How to Approach Real Estate in 2014 & Beyond
With the financial crisis that struck in 2008 effectively driving the housing market into the ground, the real estate market has been the top story on the news for several years. At first, the housing implosion left homeowners underwater, forcing them to abandon their investments and creating empty homes ripe for crime and robberies. As the nation slowly rose out of the Great Recession, more people were finding jobs and reestablishing credit. The housing market responded in 2013 with homes that almost anyone could buy with interest rates that were historically low. As 2014 comes bounding in, the real estate market is not as exciting. Interest rates are rising, and buyers are more wary...
Whether you're buying your first Sarasota home or you're already experienced buying homes in the real estate realm, the process of purchasing a home can be complicated. One of the most challenging factors is the many home-buying myths that are often repeated by well-meaning friends and relatives. Read on to get the real facts behind five myths about the home-buying process. Having the right information can not only save your sanity as you enter into this process, it can also potentially save you thousands of dollars.
1. A Bigger Down Payment Is Better
After the housing bubble burst in 2007, the zero down loan programs that were once common all but disappeared. Since then, popular wisdom suggests you shouldn't buy a home unless...
Overall Sarasota real estate wound up being the second highest year for unit sales in 2013. It had 11,184 closed sales which was exceeded in 2004 with 11,482 closed sales. A record for 2014 could be set if December has a strong end of month for closing.
Sarasota real estate for 2014 has been on a near-record pace with 10,621 closed sales which is 364 more than 2013 at this time. With the December 2014 sales past 500 by mid-month it is expected the annual total for 2014 will be the second highest, topping 2013 closed sales in the county.
While set for a possible record for second highest sales year, the November figures dropped belong 800 in Sarasota County for the first time in eight months. This was after topping sales...
October was another strong month for real estate sales in Sarasota, and the county remains on course to set a record for annual sales. Total sales topped the crucial 1,000 mark for the fifth time in the past eight months. The grand total for the month came to 1,011 closed sales. Of these, 288 properties were condos and 723 were single family residences. This is an 8.2 percent rise over the 934 homes sold in September and a full 23.3 percent higher than the 820 sales in October of last year.
Sarasota County may finally break the record it set in 2004 when 11,482 single family homes and condos were sold throughout the county. Total sales for 2014 already total 9,795, putting the goal well within reach. In fact, realtors in the county only need to sell another 417 properties to breach...
In July 2014, for the fifth consecutive month, Sarasota real estate sales reached close to the 1,000 mark with 928 closed transactions. Only once in the entire county's history has a five-month streak that hit the 1,000 mark been accomplished. This occurred between March and July 2004. June 2005 and July 2014 were the closest, falling just short of that level.
According to the Sarasota Association of Realtors, there were 643 single-family homes and 285 condos that were sold in July 2014. The number of closings decreased from 11.4% from June 2014, which hit a total of 1,048 sales. Also, July 2014 was down around 4% from the previous year which had 969 closings.
The first seven months of the 2014 fiscal year had a near-record sales pace, ahead of the first seven months of 2013. So far, 2014 has shown the second highest...
2014 is shaping up to be a record-breaking one for property sales in the Sarasota area, and demonstrates a continued rebound as more people want to relocate to Southwest Florida, and continue to do so. The news is terrific!
With the release of sales statistics for June 2014, a pattern of continued strong sales topping 1,000 for four months in a row shows no sign of weakening. June's closings, at 1,048 total, bettered the 997 closings from June of 2013, and fell just shy of May 2014's number of 1,100. June 2014's closings included 321 condominiums and 727 single-family homes in Sarasota.
2013's sales were likewise very strong, coming in with the second-highest rates in 91 years. The first half of 2014 shows that this...
The bottom may have fell out of the real estate market in 2008, but it opened the door wide open for Sarasota real estate investors interested in seeing a profitable return on their investment. Today, housing prices are still staggeringly low, creating innumerable opportunities for savvy investors. If you are looking to allocate some of your investment capital into real estate, you will notice that there are many routes that you can take. Since every type of real estate investment has its own inherent risks and benefits, you should have a solid understanding on each before writing the check. Let’s examine the benefits and risks of a few of the most popular types of real estate investment so you can choose the best route for your individual goals....
Before you even start looking for a home, it’s important to get your finances in order. Buying a home is going to be one of the largest financial investments you’ll ever make, after all! Not only will this financially prepare you for homeownership, but it can speed up the entire home buying process, and let sellers know that you're a serious prospective buyer.
Step 1: Follow a Budget
If you don’t already have one, we highly recommend setting and following a budget. You can create a simple spreadsheet, or choose from one of many free templates available online. Not only does this allow you to assess your current financial situation, but it also...
Everyone dreams of owning a beautiful piece of property at some point in his or her life. For many, this achievement comes after years of saving and determination to make this dream come to fruition. When it’s finally time to buy the vacation property you’ve always envisioned, here are a few things to consider before you begin your search:
Think About What You Want In A Vacation Residence
When you think about your vacation home, do you envision it as a getaway from your everyday life? Or is it more of a gathering space for your friends and family? Will it be just for you, or do you hope to rent it out while you’re away? All of these questions...
Siesta Key is one of Florida’s hottest markets for investment properties and it’s no wonder why. Between the beautiful beaches, world-class golf, and boutique shops, the area has a thriving tourism sector that dominates the economy of this quaint coastal town. But it’s important to note that not all investment properties are the same.
Here’s what to look for if you’re on the hunt for a great rental property in Siesta Key:
It’s all about location.
When people are looking for a place to rent in Siesta Key, they’re usually after one of two things: walking distance to the beach or somewhere with boat storage and access. Even condos...
