Real Estate in Sarasota Florida

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Real Estate in Sarasota Florida

Thinking of buying real estate in Sarasota Florida? If so, right now is a great time to be a buyer. Your timing couldn’t be better.

Everything is on sale! Prices are down as much as 40% and more from the record home prices set during the boom years of 2004-2006.

2006 ushered in the first buyer’s market in years and it continues to be a buyer’s market in 2010 for real estate in Sarasota County. There is much "on sale."

In many cases prices are down considerably more than 40% from market peaks in 2005 to late 2006. And prices as of this writing in 2010 continue to soften, making this a good time for buyers if you're in it to live in it.

$8,000 Tax Credit for Home Buyers Extended to April 30, 2010

Buy Before April 30, 2010 and Close by June 30, 2010

Here's how it works:

1. It's available only to first-time home buyers

2. The tax credit is not a loan and does not require repayment* (*If the home is sold within 3-years, the $8,000 tax credit must be re-paid)

3. The tax credit reduces the home buyer’s tax liability; if the buyer’s liability is less than $8,000, the remaining credit will be issued as a check

4. Home purchases must be for a primary residence

5. The credit is available on a home purchased before April 30, 2010 and closed on by June 30, 2010

6. If you are single and make $75,000 or more, or are married and make $150,000 or more, you do not qualify

7. The credit is not eligible if the seller is a relative of the buyer

Foreclosures...and short sales...

And while it's a great market for buyers, it's a "not-so-great" market for sellers.

Terms you'll hear in the marketplace today are:

"short sale:" when the buyer offers the seller less than the amount owed on the mortgage and therefore the sale needs approval from the bank;
"foreclosure:" when the bank or lender on the home takes over the home;
"under water:" the home owner owes more on the mortgage than the house's current market value.

All are negatives for the seller or home owner today, especially if he or she bought real estate in Sarasota Florida and other "boom" markets in 2005-2006.

Loan Modification...or...

..."How to save your home from foreclosure."

Foreclosures are dominant in the marketplace; they also contribute to depreciating (lower prices) market conditions and to a seller's need to apply for a loan modification to stave off the foreclosure process.

In many cases a loan modification can save your home, or the home of someone you know, from foreclosure.

If you are behind on payments, or are about to go into foreclosure, or already in foreclosure, you owe it to yourself to find out how to save your home. Just click here to learn more about the mortgage loan modification process:

But there are still some great reasons to buy real estate in Sarasota Florida and the nearby areas NOW!

I’ll get to those reasons in just a moment, but first, let your imagination take over for a few minutes and let me ask you a few questions.

What kind of home are you looking for?

A cool retreat at the beach?
A starter home in a planned community like Palmer Ranch or Lakewood Ranch?
Or one in a private country club like The Oaks in Osprey, on a lush, green golf course from which you can see the ninth hole from your pool and lanai?
Or a condo with a community pool, clubhouse and workout room?
A second home or an investment property?
Maybe you’re an empty-nester looking to downsize or retire to the warmer climate here in the Sarasota Sun Coast area and move into a trendy maintenance-free paired Villa or Town Home?

There's plenty of real estate in Sarasota Florida from which to choose!

Casey Key Florida Beach House on the Bay

Just a few more questions:

Do you need to sell a home before buying and moving?
Is your present home on the market?
What’s your desired time frame for your new home?
Will you be moving from nearby or from across the country?
What’s your price range?
Are you interested in new construction or a resale home?
Are you paying cash, do you have financing lined up or should we get you pre-approved?
What features are you looking for in a home?
How many bedrooms and bathrooms?
Amount of square feet of living space?
What area?

Now that you’ve thought about the answers to those questions, let me tell you a little more about Real Estate in Sarasota Florida.

Casey Key House on the bay

The Sarasota-Venice Real Estate market also encompasses the communities of Osprey and Nokomis, which are between Sarasota and Venice and close to Gulf of Mexico beaches and Sarasota beaches. And of course, the closer the home is to the water, the pricier it will be.

But, then, not everyone is looking for a beach house. You may be one of them. And if so, you’re in luck, because there are more homes, condos, town homes and villas for sale off the water than on the water here in the Sarasota-Venice Real Estate Market.

Real estate in Sarasota home on the bay The home styles and designs are gorgeous and they can range from classy Mediterranean style mansions with beautiful barrel tiled roofs and beach front lanais looking out over the Gulf of Mexico, Sarasota Bay or the Intra-coastal waterway to sleek contemporary hideaways and what’s known as the traditional Florida Home, with tiled roofs and screen-enclosed lanais (porches).

When it comes to real estate in Sarasota Florida, there’s also a glut of new construction homes on the market as well as resale homes.

Whatever your desire, there’s a home style for you in Sarasota. And with prices ranging from under $100,000 for condos to multi-million dollar estates you should be able to find a home here in paradise.

Current Sarasota Real Estate Market Conditions:

As I mentioned above, 2006 rang in the first buyer’s market in years and 2010 continues to be a buyer’s market for Sarasota County Real Estate. Here's a look at the trends:

Sarasota Real Estate Market Trends*

January 2010 Report

December 2009 Report

November 2009 Report

October 2009 Report

Why Buy Real Estate in Sarasota Florida Now?

Sarasota Real Estate on the intracoastal

If you’re waiting for the media to tell you to buy, you may miss your chance. There may never be a better time to buy real estate in Sarasota Florida than right now. Why?

A Dozen Good Reasons to Buy Real Estate in Sarasota Florida Right Now!

It’s currently a buyer’s market
Historically low interest rates – near 40 year lows -- In 1987, the 30-year fixed rate was 11.36% today, in 2009, it is much better
Large Inventory and outstanding selection from which to choose
Real Estate continues to be a Great Investment – over 60% appreciation over the last 5 years in Florida
4.9 Million International visitors come to Florida annually
Florida had the highest U.S. migration trend because of warm weather, with 1,057,000 incoming residents from 2000 – 2005. It will not stop
Florida’s population is growing twice as fast as the national average and will double by 2040
Sarasota has great potential to create First-Mover Advantage (First to open a business in any segment generally does better than latecomers)
Sellers are apt to negotiate
Owning is still favorable to renting
Not owning postpones wealth accumulation
Impending rising demand will push prices up

If you are seriously thinking of buying in the next 6 to 12 months, you may want to check your credit, especially if you'll be applying for a mortgage, as the days of "easy loans" are over: Click for your CREDIT SCORE - $0

One More Reason to Buy Real Estate in Sarasota Florida Now:

Florida Property Tax Reform

Florida adopted a major property tax reform measure in January, 2008 that created an additional $25,000 homestead exemption applied to the assessed home value above $50,000.

Selling or Buying Real Estate in Sarasota Florida or the state of Florida?

Let Me Help You Achieve Your Real Estate Dreams!

I'm John Dial and as an actively licensed Florida and Sarasota Real Estate Professional, with local and statewide resources, I would be happy to help you sell your home or buy the home of your dreams in the price range and location you want, whether in the Sarasota area or elsewhere in the state of Florida

Whether you are looking for Sarasota Real Estate, to buy or sell, or Real Estate across Florida, simply fill out the below contact form in as much detail as possible and let me put to work for you my powerful network of Sarasota and statewide real estate connections.

It's as easy as that!

Buyer Information

Please note that all fields followed by an asterisk must be filled in.

First Name*
First Name*

Last Name*
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Street Address*
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City*

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Home Phone*
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What kind of property?*
What kind of property?*

	Single Family Home
	Condo
	Forelcosure

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