Sarasota Florida Flat Fee MLS Listings FSBO – Discount Realtor & Broker

2441 Bay St.
Sarasota, FL 34237

3 Bedroom, 3 Bath
1,589 Square-Feet
$199,000

Downtown Convenience! Steps to Downtown! 10-15 Minutes to Beach! Updated & Renovated & Remodeled in 2002! Artistic Additions Such as, Glass Block Shower, Mosaic Tiles, Designer Paints * French Doors Leading to Expansive, Wrap-Around Lanai * Soaring Oak trees, Lots of Shading & Tropical Landscaping Make this Florida Paradise * Storage Shed in Fenced Backyard * Vaulted Ceiling in Family Room * Additional Formal Living Room * Tile Throughout * Breakfast Nook off Living Room & Gallery Kitchen * Recessed Lighting * Full Appliance Package * Solid Oak Cabinets in Kitchen & Energy Efficient Appliances * Quiet Family Street * Top-Rated School District * Location! Location! Location! Rare-Find!

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The drop means the number of people losing their homes will start to fall. But some pain from the crisis is sure to persist. Because millions of people are already in foreclosure, deeply discounted houses will put pressure on home prices for years.

“Housing is on a path to recovery,” said Mike Larson, a real estate analyst with Weiss Research. “It’s going to be a very long, gradual process.”

In high-foreclosure cities like Las Vegas, Phoenix and Miami, homes have lost roughly half their values from their peaks. But a report Friday from the Mortgage Bankers Association showed Nevada, Arizona and Florida had some of the biggest declines in new delinquencies.
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The days of building your dream home from the ground up appear to be in jeopardy.

 Lending institutions have become increasingly wary of issuing residential construction loans, even to qualified buyers, as defaults and outstanding loans continue to pile up.

About a sixth of all construction loans were outstanding or on the brink at the end of June, according to bank reports filed with the Federal Deposit Insurance Corporation.

The construction lending delinquency rate rose to 18.2 percent in the third quarter of 2009, nearing the peak of the 2001 recession when the rate hit 19.2 percent, according to a recent Bloomberg story.

Commercial
Construction home loans  are inflicting most of the damage on lenders. But real estate construction loans continue to be a losing proposition for scores of banks. For example, the City National Bank of West Virginia recently announced that its toxic assets mostly consisted of residential construction loans at The Greenbrier Resort.

Instead, banks are increasingly focusing on loans solely for purchasing and refinancing homes. Some have even abandoned residential construction loans all together — both JP Morgan Chase and Citi Mortgage shut down their programs this year.

In other words, the lending pool has thinned considerably for families looking to buy land and build from scratch. Combine that with a considerably tighter credit environment and suddenly the all-American concept of “building your dream home” is on the verge of disappearing.

“These families are not in the same bracket of the builders that have over built subdivisions,” Rick Gomez, owner of San Diego-based Nationwide Construction Loans, said in a recent news release. “These are the families that just want to build the American dream on their own land.

Despite the growing caution, there are still lenders out there willing to take on residential construction loans in this climate. Prospective homeowners looking to secure a  residential home loan need to prepare for a potentially turbulent search

To boost their chances of obtaining a loan today, buyers should be prepared on a few key fronts:

Know the story
Construction loans are the epitome of the “story loan.” The lender wants to consider the project background and the prospective borrower’s story before making a decision. If you don’t have a solid, well-crafted story behind the intended purchase, find one

Scour the Internet
Don’t be afraid to include online sources while shopping for lenders. But, as with any potential lender, be sure to investigate their track record and history of working with construction loans.

Check the Credit
It’s shocking how many prospective borrowers fail to reconcile errors and inconsistencies on their credit reports. About one in four credit reports has an error significant enough to quash a loan. This is especially crucial in this current market.

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Sarasota real estate market remains hot as temperatures cool

The Sarasota real estate market remained hot in November 2009 with overall sales nearly 86 percent higher than November 2008.  Total sales stood at 578 in November, mirroring last month’s total of 574 and much higher than the 311 sales reported in November 2008. The breakdown was 417 single family homes and 161 condos sold last month.
 
The fall has proven to be a busy one for many local Realtors®, and the trend doesn’t seem to be slowing down. Pending sales stood at 793 in November, just below last month’s total of 839, and far higher than last November, when only 504 pendings were reported. The statistic is a strong indicator for the next two or three months of sales, as pending sales are an indicator of current buyer activity. Some experts had predicted pending sales might slow because of the uncertainty over the extension of the first-time homebuyer’s tax credit. But that fear has proven unfounded in the Sarasota market.
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Fla.: Existing home, condo sales up in November

ORLANDO – Dec. 22, 2009 – Florida’s existing home sales rose in November, marking 15 months that sales activity has increased in the year-to-year comparison, according to the latest housing data released by Florida Realtors®.

Existing home sales rose 61 percent last month with a total of 14,026 homes sold statewide compared to 8,694 homes sold in November 2008, according to Florida Realtors. Statewide sales of existing condos increased 111 percent last month compared to November 2008’s sales figure.

For the second month in a row, all of Florida’s metropolitan statistical areas (MSAs) reported increased existing home sales and higher condo sales in November. A majority of the state’s MSAs have reported increased sales for 17 consecutive months.
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University Place
8032 Indigo Ridge Terrace
University Park, FL 34201

$249,900
3 Bedroom, 2 Bath
1,652 Square-Feet

Light & Bright, 3 Bedroom & 2 Bath Home in Sought After University Place * Not a Short Sale, or Foreclosure * Close Quick * Upgraded Tile Throughout * Custom Arches & Moldings * New Carpet in Bedrooms * Beautiful Chandeliers, Lighting Fixtures, & Upgraded Fans Included * Breakfast Bar Topped with Corian Countertops * Open Kitchen with Upgraded Tile Backsplash Under Wood Cabinets & Breakfast Bar * Total Appliance Package Included * Split Plan with Large Master Suite * Large Walk-in Closet in Master * Master Bath Includes Garden Tub & Decorative Tile Backsplash in Shower * Oversized Screened Patio/Lanai with Upgraded Tiles * Large Backyard with Lush Flower Beds & Well-Maintained Landscaping * Room for a Pool * Great Curb Appeal! University Place is Private & Gated Throughout * U-Place Offers 2 Community Pools, Barbecue Area, & Childs Recreation * Well-Maintained Lakes & Maturing Tropical Palms Throughout * Great School District * Perfect Home for a Small Family, or Professional Looking for an Upgraded, 3 Bedroom Home Under $250,000 in Amenity-Packed Community @ Prime University Parkway Location * No Dealing with Banks Here * Seller Will Respond Quick to All Offers * Easy to Show * Call 941-448-4872

Click on the Thumbnails Below to Preview Larger Photos

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WASHINGTON (AP) – Dec. 16, 2009 – Construction of new homes, helped by better weather, rebounded in the U.S. in November following a setback in the previous month.

The gain is a hopeful sign that the housing recovery is continuing, a development viewed as critical to lifting the overall economy out of recession.

The Commerce Department says construction of new homes and apartments rose 8.9 percent in November to a seasonally adjusted annual rate of 574,000 units. The gain represented strength in all areas of the country although the increase was slightly lower than economists had expected.

Applications for new building permits were also up, rising 6 percent to an annual rate of 584,000 units, a stronger showing than economists predicted.

Copyright © 2009 The Associated Press, Martin Crutsinger

Justin Shirley
CEO
Shirley International Realty
941.448.4872
www.JustinShirley.com

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WASHINGTON (AP) – Oct. 27, 2009 – Top Democrats in the Senate are pressing a plan that would extend a popular tax credit for first-time homebuyers but gradually phase it out over the course of next year.

The proposal, by Majority Leader Harry Reid, D-Nev., and Senate Finance Committee Chairman Max Baucus, D-Mont., would extend the $8,000 tax credit – which expires Nov. 30 – through March 31. Its value would drop by $2,000 for each of the subsequent three quarters of 2010.

The plan, which could face a vote in the Senate this week, appears aimed at countering a far more generous $17 billion bipartisan plan that would extend the $8,000 credit through June 30, 2010, boost the income cap for eligibility and open the credit to all buyers, rather than first-timers.
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September sales skyrocket as market approaches equilibrium
 
Real estate expert Barbara Corcoran listed Sarasota as the number one place in the nation to buy a property in her latest “hot market” prognostication. She cited the lower property prices – 30 percent below last year at this time – combined with a recent price surge of 13 percent in the last quarter, plus Sarasota’s unique “metropolitan” cultural appeal for boosting this area to the top spot.
 
On the Oct. 6th Today Show, Corcoran said Sarasota was the top place to buy real estate in the nation today, an opinion shared by SAR and most area real estate professionals.
 
As a confirmation of Corcoran’s report, home and condo sales jumped by 35 percent in September 2009, compared to the same month last year, and 9.7 percent from the August 2009 stats in the Sarasota market. Total sales stood at 554 in September, compared to 409 total sales in September 2008. The breakdown was 399 single family homes and 155 condos sold last month.
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How to beat the $8K tax credit deadline

CHICAGO – Sept. 28, 2009 – It’s not too late for a determined first-time home buyer to take advantage of the $8,000 federal tax credit, which expires Nov. 30.

Scott Voak, a San Diego practitioner specializing in first-time buyers, helps potential buyers target homes that can close quickly. To identify those properties without touring them, he suggests contacting the listing agent with blunt but important questions that aren’t usually addressed in the listing. These can include:

• Is there mold?
• Does the home need extensive repairs?
• Does the home have aging systems or appliances?
• Are there any troublesome neighbors?

Buyers should factor in these questions before making an offer:
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