2463 links in 23 categories and 4 comments by 15 members. Directory last
updated 03/24/06.
Welcome ruthstanhop,
the newest member.
Sarasota real estate, like the rest of Florida, just a few short months ago
was high in demand, and difficult to find. The Sarasota area is a favorite
for the retirees and families considering relocation to Florida. Sunny
beaches are still the same draw they have always been.
Like other markets in the Florida real estate region, Sarasota is seeing more
homes on the market. The last couple of years have definitely been a
sellers market. The trend now is for buyers. There are more homes
on the market now than there were this time last year. Sellers are motivated,
which makes it an ideal time for the first-time buyer or the investor to consider
property here.
Real estate fixed mortgage rates are expected to rise, so now is the time
to get in while they are still low.
Real estate experts tell us that appreciation rates have been between 9-11
percent between 2001 and 2004. Appreciation was even higher last year,
up about 33 percent. Of course, appreciation rates of 33 percent aren't
realistic on a sustained basis. That doesn't diminish the appeal of Sarasota;
it just makes more home available for purchase right now.
All the reasons people relocate to Florida are still present. Optimal
weather most of they year has always been a draw to the Sunshine State. As
more and more of the baby boomers reach retirement age, real estate in Florida
will be moving.
The job outlook in Sarasota is good, so it makes an ideal location for those
that want close to beaches, and a good job as well.
Florida isn't just for the retirees. Its schools are good, a major consideration
for the younger family.
The Census Bureau of the Department of Commerce reported that privately-owned
housing starts jumped 14.5%, this is the highest in over thirty years. That's
increase of 4 percent from just last year.
The Department of Housing and Urban Development and the Census Bureau (Department
of Commerce) jointly issued a report stating that sales of new homes dropped
5% in January from 2005, while unsold homes is at a nine-year high.
The NAR (National Association of Realtors) reports that unsold homes on the market is up 2.4 percent from December. This creates the largest inventory seen since the late 1990's.
Florida home sales are down 19 percent, the number is even higher for the
Sarasota area, as home sales were down by 48 percent compared to just one year
ago.
The real estate bubble is obviously switching sides. It's becoming clear
that it is a buyers market.
Sarasota-Bradenton showed a 23 percent increase in median sales price to $353,500
from the same time period in 2005. The value is still here, and currently,
so are the properties.
Research your purchase, and check surrounding neighborhood pricing. Sellers
are more apt to make good deals with buyers than they were even six months
ago.
While this might not be the time for the short-term investor to purchase property
here in Sarasota, it's still a good investment for the long-term investor. Appreciation
will continue, just not at the high pace of the last few years.
Prices will likely go down, as sellers begin to realize what experts have
already realized. The market is slowing, and if they want to sell, they
will need to become more realistic in their expectations.
Buyers should be aware that investors have played a part in the large supply, looking for a quick turn-around on their investment. The slowdown that has been seen nationwide will soon see a leveling off period.
2463 links in 23 categories and 4 comments by 15 members. Directory last
updated 03/24/06.
Welcome ruthstanhop,
the newest member.