page
1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14
High-end homeowners are starting to capitulate on pricing and, in an odd way, are helping to stabilize prices in Southwest Florida.
As sellers come down, buyers are moving off the fence. As buyers make deals, that is pushing a fresh influx of higher-priced transactions into a mix that has been dominated by lower-priced distressed properties for more than a year.
In June that phenomenon boosted the median sales price in the Sarasota-Bradenton market by 5.4 percent to $162,000 from May.
High-end real estate agents in Southwest Florida saw 27 homes and condominiums sell for more than $1 million in Sarasota County last month and they are expecting more this summer.
"We're 50 percent off our 2005 highs," said Sarasota broker Kathy Marlowe. "That's true at almost every price point."
The most expensive home to sell in Manatee County last month went for $2.3 million, or 47 percent less than the $4.3 million that the 5,900-square-foot abode in Legends Bay commanded in November 2008.
A house on Teal Creek Glen in Lakewood Ranch that sold for $2.24 million in December 2005 went for $925,000 in June.
Marlowe has watched prices come down neighborhood by neighborhood. Sellers may hold out for a while in some areas, but eventually they... ...read full post
posted by Andrew Bers
on Sat., Jul 23rd, 2011
in
real estate
Foreclosure sales continue to drop, but foreclosure inventories remain high in many markets across the country. By the end of May, the number of mortgages that were 90 or more days delinquent, combined with the foreclosure inventory, outpaced foreclosure sales by 50:1, Lender Processing Services Inc. reports.
The biggest drop in foreclosure sales occurred in East Coast states. For example, foreclosure sales plummeted 96 percent in Washington, D.C., 80 percent in Maryland, and 79 percent in New York, according to Lender Processing Services’ monthly mortgage monitor report.
Mortgages that are 90 days or more delinquent, combined with the foreclosure inventory, totaled more than 4 million in May. Foreclosure sales at the end of May totaled 78,676.
The average time a home owner spends in foreclosure continues to get longer. More than 33 percent of home owners in foreclosure have not made a mortgage payment in more than two years.
Source: “Foreclosure Sales Plummet in May,” RISMedia (July 5, 2011)... ...read full post
4 Questions for a Pro: Short Sales
Friday, July 1, 2011 Andrew Bers has been involved with real estate since the late 1970s. He has sold millions of dollars worth of residential property, and he is an expert on foreclosures and short sales, earning "specialist" accreditation by the National Association of Realtors. Correspondent Chris Angermann sat down with him at the RE/MAX Alliance Group office on Webber Street to discuss short sales.
Q:Why do we continue to have so many short sales?
A:At the end of last year, the number of Americans who owed more on their mortgages than their homes were worth rose. Close to 50 percent of the homes in Florida are "underwater." At some point, owners make a determination to sell, sometimes informed, sometimes based on fear, or because they can't carry the mortgage anymore. Short sales — bank-negotiated settlements — are better than foreclosures. They have less impact on credit scores, and in some situations it's possible to sell the property without tax consequence or having to make up any deficiency... ...read full post
 Five Star Professional has named Andrew Bers as the recipient of the 2011 Five Star Real Estate Agent award. The award recognition will appear in a special section in the July issue of Sarasota Magazine.
Five Star Professional partnered with Sarasota Magazine to conduct research to identify a select group of real estate agents who are exceptional in both their ability and their commitment to overall satisfaction.
A survey was provided to all Sarasota area residents who purchased a home within a 12-month period, plus subscribers of Sarasota Magazine and 250 mortgage and title companies. Respondents were asked to evaluate real estate agents they knew through personal experience and to evaluate them based on nine criteria. Both negative and positive evaluations were included in the scoring.
All qualified real estate agents were screened with the State Real Estate Commission’s database to verify that licenses were current and no disciplinary actions were pending. The final list was reviewed by a panel of local realty company executives, professional and trade association officers and others directly involved in housing-related businesses.
Andrew Bers with RE/MAX Alliance Group in Sarasota, FL is a consistently top ranked Realtor worldwide. He has... ...read full post
posted by Andrew Bers
on Fri., Jul 1st, 2011
in
real estate
By Kim Fulscher • Bankrate.com In this buyer's market, some homebuyers ask themselves: Will purchasing a short sale or foreclosure end in disaster -- or yield a jackpot?
And which type is best to go all-in with: a short sale or foreclosure?
"There's really no cut-and-dry answer," says Gwen Daubenmeyer, a certified distressed property expert with Re/Max in the Hills in the Detroit area. "It really depends on the buyer and what the buyer's priorities are."
Before starting their search, homebuyers who want to play their cards right should know the benefits and drawbacks of buying either type of "distressed" property: foreclosures and short sales.
Read more: Which to buy: short sale or foreclosure?... ...read full post
posted by Andrew Bers
on Tue., Jun 28th, 2011
in
real estate
Marie Selby Botanical Gardens presents a night to celebrate freedom commencing at 6:00 p.m. until the fireworks end. The Gardens' breathtaking Bayfront location and live music by "Impulse" will ignite the Monday evening celebration. Impulse's musical style ranges from Reggae to Soca to R&B classics with a few surprises along the way.
Children's activities and lawn games for the entire family will take place on the Great Lawn. An all American BBQ and Cook-out as well as beer, wine, soda, and other beverages will be available for purchase. Bring your blankets or chairs to appreciate the spectacular community fireworks along the Bayfront.
Tickets are $20 for adults; $17 for members; $17 for member guests; children 11 and under enter free. Make reservations online now or at the Welcome Center from 10 a.m. to 5 p.m. at 900 South Palm Avenue. All Pre-sale ticket buying ends at 3:00pm on July 4th. Tickets will then be available at the Welcome Center at 6:00pm on July 4th. Please no reciprocals or guest passes, as this is a fundraising event. There are no refunds or exchanges. If the fireworks display is cancelled, all purchased tickets can be exchanged for a one-day Regular Garden Admission Pass valid... ...read full post
We've been saying it all along. The real estate market here in Sarasota and Bradenton is on the rise and today's paper confirms.
Sarasota Herald Tribune: SARASOTA-BRADENTON HOME SALES: Rose 5 percent in May when compared with the same month a year ago, with 1,079 homes sold compared with 1,029 in May 2010.
HOME PRICES: The median price dropped 8 percent to $153,700 from $166,400 year ago. The April price was down about 1.3 percent from $155,700 in April.
Read the entire story here.
Want to see what your neighbor's house sold for this year? Check out our monthly sales reports for Anna Maria, Longboat Key, Sarasota and Siesta Key on our website.... ...read full post
FloridaRealtor has written a good overview of the challenge before the state Supreme Court in regards to lenders who use faulty paperwork to foreclose on homes.
"The core issue focuses on ownership of the mortgage. Thanks to complex financial instruments, the lender servicing the mortgage does not always have paperwork giving it the authority to foreclose; and in some cases, paperwork showing mortgage ownership has been pushed through with questionable signatures and research." says FloridaRealtor.
Read the entire story.... ...read full post
...isn’t a new phenomenon in the housing crisis. But with home values continuing to decline, more owners are finding themselves in a position where they may see it as a savvy business decision to destroy their credit rather than wait years for prices to recover. Marty Likier is one who knows the mental hurdles that have to be crossed to make the decision.
Read Marty's story at LoanSafe.org... ...read full post
Buy Now - Retire Later
In the June 27th issue of Forbes Magazine, there is an article that exemplifies what we have been telling our buyers. NOW IS THE TIME TO BUY. If you are looking at retiring in the near future, buy that dream retirement home now.
The article highlights several good areas to buy, including south Florida and explains how to manage it till you are ready to live in it and some of the tax advantages and disadvantages.
Read the article here and see how you can have the retirement home of your dreams.... ...read full post
page
1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14
|
|
