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Florida Realtor reports (JUPITER, Fla. – Dec. 6, 2011) with real estate prices low, many people are considering buying an investment property and becoming a landlord.
It might sound simple, but real estate pros warn that there’s a lot to know. The landlord who doesn’t follow such basic guidelines as conducting a thorough background check can get stuck with a nightmare tenant. It takes both business sense and common sense.
“Most of my tenants, 98 percent, are terrific,” said Jupiter real estate broker and investor Carl Presto, who owns 60 properties. “The problem is that 2 percent.”
The down economy that has resulted in real estate bargains also means it’s more difficult to find a tenant who can afford to pay first and last month’s rent and a security deposit upfront. Landlords report they have to go through 30 to 40 applicants before finding a qualified tenant.
Landlords also find they are competing with foreclosed houses, which some people rent below market, forcing rents lower.
Although picking up a cheap condominium unit might be tempting, David Dweck, founder and president of the Boca Real Estate Investment Club and a real estate broker and investor, advises avoiding them. Instead, buy a duplex, triplex, small apartment building... ...read full post
Financial analysis firm 24/7 Wall St. has identified the housing markets expected to offer some of the biggest discounts for home buyers. Many of these markets have been plagued with large gluts of foreclosures that have dragged down prices. In fact, six of the 10 markets on the list have had median home prices fall to less than half what they were five years ago, according to 24/7 Wall St.
The following housing markets offer home buyers some of the biggest discounts:
North Port-Bradenton-Sarasota, Fla.
Median home price: $170,000
Home value decline from peak: -51.4%
Predicted change in home value through 2Q 2012: -6.5%
See the entire list here.... ...read full post
Property sales for October 2011 in the Sarasota real estate market outpaced last October, with 577 this year compared to only 487 at the same time last year. This represents an 18.4 percent increase, and could be a harbinger for a busy season.
There was also a small increase in transactions compared to September 2011, when 570 sales were recorded. Overall, sales in 2011 are on pace to exceed last year, a remarkable fact considering that 2010 sales were at the highest level since 2005.
The inventory of available properties for sale in Sarasota, after dropping precipitously over the course of 2011, was again up slightly in October to 4,525 from last month’s 4,430 level. The inventory sunk to a 10-year low of 4,408 in August 2011.
The October 2011 median sale price for single family homes dropped to $149,838 from last month’s figure of $165,000. But the amount was higher than last October, when it was $147,500. The condo figure has been fluctuating for several months, and rose slightly in October 2011 to $143,000 from last month’s figure of $140,000. Last year at this time, the figure stood at $158,525. The year-to-date median sale price was $155,000 for single family homes and... ...read full post
Good morning,
I have extremely exciting news to share with you!
J.D. Power and Associates announced today that RE/MAX ranks highest in customer satisfaction, for both buyers and sellers, in its 2011 residential real estate survey.
That's right – we've earned the highest level of appreciation from BOTH groups of consumers, which is a remarkable statement about the Outstanding Agents in our organization. |
... ...read full post
Continuing our promise to give you the tools to make important decisions we updated our sales reports for Longboat Key, Anna Maria Island, Siesta Key and the downtown Sarasota area. To see what has sold in your building or neighborhood since January 1st of this year visit our Sales Reports page.
May saw a significant number of sales homes and condos close. Not as many as April but it still puts this year far ahead of the previous two years in sales. The number of foreclosures continues to be a large portion of sales and we expect that rend to continue thru the end of the year.
We here on our team are still actively working with sellers who are looking for help in deciding if a short sale or foreclosure is a better option for them. We had over $1,000,000 in listings under contract for the month of May alone.
With last weeks reports of home prices double dipping - dropping below a recent low - and current interest rates on mortgages, we believe there is no better time to buy a home. If we can assist you or someone you know, please call us at 941-383-3741.... ...read full post
REALTOR Magazine: For the sixth straight week, fixed mortgage rates inched down, reaching new lows for 2011. The 30-year fixed-rate mortgage averaged 4.60 percent this week while the 15-year mortgage averaged 3.78 percent, Freddie Mac reports in its weekly mortgage market survey.
... ...read full post
Well, we all knew we had the best beach in the country, now thanks to "Dr. Beach" everyone else on the country will too. This week coastal scientist Stephen P. Leatherman announced his 21st annual list of the top beaches in the US. This week he named Siesta Beach #1.
Siesta Beach has been on the list for the last several years but due to the oil spill in the gulf we were never number one. But that has changed! See the entire list on msn.com
If you would like to see first hand our sugary white sandy beach, give Robbie or I a call and we will help you find a great place to stay. We have a great list of places to stay, eat and play.... ...read full post
See the latest sales figures for Longboat Key, Anna Maria Island, Siesta Key and downtown Sarasota on our new website
In our ongoing effort to educate and share vital information, we have established a new place where you, either as a buyer or seller, can see the latest sales figures for some of our more popular areas.
Beginning this month we have established 4 pages highlighting the closed transactions for condominiums, single family homes and vacant lots on Anna Maria Island, Longboat Key, Siesta Key and downtown Sarasota, which includes Golden Gate Point and Bird Key.
We will be updating the reports monthly but will be happy to provide you a report sooner should you have an interest. Please email Andrew@AndrewBers.com with your request. ... ...read full post
 I had the pleasure of participating in Sharky's Ride The Beaches yesterday. It was the 9th year for Sharky's on the Pier charity bike ride, Ride the Beaches. This year will once again support Livestrong, The Lance Armstrong Foundation.
Very well organized bike ride and a beautiful course along the Manasota Key beach and through the Canopy of Trees. Lunch and cold beer on the beach after the ride - perfect:) Sharky's did a great job benefiting Livestrong...a worthy cause.
Learn more about it and join us next year.... ...read full post
 Siesta Beach, Siesta Key Florida: TripAdvisor announced their traveler's choice winners for beaches today. Our beautiful sugary white powder Siesta Beach again made the top 10 list. Award winners were determined based on the most highly rated beach destinations by travelers in TripAdvisor reviews. Unlike any other honors, TripAdvisor Travelers’ Choice winners are based on millions of real and unbiased reviews and opinions from travelers around the world. See the whole list here.... ...read full post
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