Sarasota real estate owners that need the most help are slow to get assistance with mortgage payments, according to a report released by the Federal Government. The report shows that as of June of this year, only seven percent of the $7.6 billion Hardest Hit Fund money has been used to assist homeowners in America who are under financial strain. It has been more than two years since the fund was announced. Seventeen states along with Washington D.C., received funding from this plan back in 2010.
Out of the $1 billion that was awarded to the state of Florida only $51 million (5%) has been used to help homeowners in the state up to this point.
The Hardest Hit Fund was audited earlier this year by the Troubled Asset Relief Program in order to find out why the plan is getting off to such a slow start. The audit found that the fund has a limited reach and is not getting out to enough people. Monies for the plan are "just sitting...
If you are currently renting but considering buying your own Sarasota homes for sale, three professors in California may have just given you even more reasons to take the leap. In a new study they determined that being a home owner may actually benefit your parenting. The surprising results concluded that children of parents who own a home as opposed to renting may have less potential risk for dropping out of school and even a greatly reduced chance of teen pregnancy.
The study also ruled out other possible factors for these findings. Possibilities like income levels, marital status, age, race, and the education of the parents were all looked at and were attempted to be removed from the equation. The ultimate goal of the study was purely about home ownership. Can owning your...
Whether you are buying a Sarasota home for sale or condo for the first time, or are a seasoned investor, a quality home inspection is a must.
If you are new to purchasing real estate, this can be one of the scarier elements of the real estate purchase process because you may not know what to expect. While your prospective new Sarasota home may seem perfect, it takes a closer look by a professional to make sure that there are no underlying problems with the property. The process will be less daunting if you know what to expect from each of the parties involved in a typical property inspection.
Gather Information
As the buyer, you should learn as much about the property as possible...
Even while the nation continues to struggle with a sluggish economic recovery, the real estate world is see
ing signs of a rebound in the housing market. With the ability to purchase a home continuing its kinder and gentler trend, demand from buyers continues to expand. Prices are beginning to creep upwards, but the low interest rates for mortgages are adding more prospective buyers to the market.
Good news for Sarasota home sellers is that the average time a home stays on the market before receiving offers is decreasing. Figures from Realtor.com show an 11 percent decrease from last year in the number of day’s that a home remains available. A year ago a house stayed on the market an average of 107 days. Housing information from September reports a drop...
If you have been thinking about making your first Sarasota Real Estate purchase, the boy scouts have a motto they have used for decades; yet is still as cogent today as it was way back then:
"Be Prepared." It's even more succinct when dealing in real estate.
Everyone would love to be able to afford that Siesta Key Beachfront Condo for sale, but for many, the homes they inspect and fall in love with are usually the ones they can't afford. Ergo, to solve this dilemma your solution is to remember to do these four things:
- Breakout all your income and debt paperwork...
The Sarasota Real Estate market is showing strong signs of improvement. With sales being at record highs for a period over the past couple of years, there are indications of the market strengthening. It is normal to see the housing sales slow in the summertime, but this year’s sales were strong even during the traditional lull.
These positive reports are building momentum and creating what is known as a snowball effect. Because of the record low prices from the past couple of years,
housing inventory is down. Actually, it is the lowest it has been in over six years. What this means for the seller is more opportunity to get multiple...
Sarasota real estate sales are stronger than they were last year, even though September is one of the slower selling months of the year. According to Sarasota Association of Realtors members, in the month of September 2012 648 properties were sold. This percentage is approximately 14 percent higher than September 2011, which reported 78 less sales in comparison to September 2012. From August 2012 to September 2012 there was a 21 percent decrease, which is what is typically seen from year to year during the start of fall.
In September 2011 there were 140 Sarasota condos and 430 single family ...
Following years of decline, the Sarasota real estate market is emerging from its slump with renewed interest from buyers, particularly those who have experienced a foreclosure or short sale in the last six years. These buyers are referred to as "boomerang buyers," and they are accounting for an increasing percentage of newly 
purchased Sarasota homes for sale.
To qualify for a loan backed the Federal Housing Administration, a person cannot have had a foreclosure or short sale within the previous three years. Because the housing bust has been ongoing for about six years, more home buyers who have experienced a foreclosure or short sale during this period are now eligible for a loan. Currently, 729,000 households that experienced foreclosure during the bust are eligible to apply for a loan,...
Some homeowners may have seen an email that has been making the rounds claiming that those who sell their Sarasota Real Estate property after January 1, 2013, will be subject to a new tax of 3.8 percent. The tax was voted in with the passage of Obamacare, during the wee hours of March 21, 2010. This bill has caused much controversy since its passage, but many people remain unaware of the exact provisions of the 3.8 percent tax.
The tax will only affect between 2 and 3 percent of the citizens of the United States. In order for this component of the bill to affect you, you must have unearned income in excess of $200,000 and you are filing as a single person or $250,000 if you are filing jointly. The $200,000 or $250,000 can come from a combination of factors including capital gains on any Sarasota Investment...
April 2013 was a banner month for the members of the Sarasota Association of Realtors. Not since June of 2005, the height of the housing market has the members reached four figures in sales. For 90 years, the SAR has only reached four figure sales ten times, and nine of those figures occurred during the top of the housing market in 2004 and 2005. The 1,000 sales represent a strong upward trend in the Sarasota housing market.
The Sarasota real estate market for the spring of 2013 showed 714 single family homes sold along with 303 condominiums sold. A total of 1,017 closings occurred during the spring months, representing the highest total in eight years. The numbers represent a 14 percent increase from this time last year when 886 total closings were reported....
