In other areas of the country, the end of the year is a time when both buyers and sellers tend to postpone their real estate plans and wait for spring. But in Florida we live and die by “season” when snowbirds flock to Florida for warm weather. Traditionally the peak buying season is January through April. The selling season in Lakewood Ranch extends through June because there are more year round residents there, but in University Park and other areas the snowbirds head north after … [Read more...]

I have heard the same story line for the past two years that the shadow foreclosure inventory is going to take us down another 15 to 20%. I don't see it. I review the country clerk records regularly and yes there are homes with pre-foreclosure filings against them that have yet to come to market, but it is a trickle not a wave. The original Lakewood Ranch Country Club has about 1500 single family homes in it. As of November 25 there were 23 homes with foreclosure filings that have not yet … [Read more...]

Record-breaking numbers of visitors came to Lakewood Ranch for the 14th annual Tour of Homes, held from Nov 4 - Nov 20. A total of 2824 people visited the 41 model homes and 3 info centers. WOW. This is great news for everybody. It shows an increase in consumer confidence and it supports our argument that people want to move to Florida and especially to the Sarasota, Bradenton, Lakewood Ranch area. The entire year has been incredible. More than 350 homes have been sold in Lakewood … [Read more...]

Answer: Short Sale. Your credit improves far faster: 2 to 3 years versus 7 to 10 years. That may not seem like a big deal when you are upside down and buried in debt, but someday in the not so distant future you are likely to want good credit again. Your credit score is an indication of your willingness to pay back the loan. It is a measurement of risk for lenders. It is also considered a measure of your character. Your credit score has nothing to do with your income level or even your … [Read more...]

Builder Magazine just published an interesting article on the top 20 healthiest housing markets in the country. Only 3 of the 20 markets are in Florida and you guessed it, Sarasota / Bradenton is one of the three. The article is based on data from Moody's Economy.com. It reviews a host of factors including job growth, building permits, resales and more. Bottom line, they are predicting that the Sarasota / Bradenton market will appreciate 2.8% in 2012. WOW. That is great news. … [Read more...]

Remember the old cliché: Location Location Location?  It holds as true today as ever, maybe more.  Most people think of location in terms of neighborhood location in regard to beaches, golf, downtown, restaurants, etc.  Though that is correct, location also applies inside the neighborhood.  It isn’t just the view.  Is the lot close to a road, near an entrance, exposed to street lights, etc.  Buyers today think about the experience one should expect living on a particular lot. The … [Read more...]

Banks have gotten much faster processing foreclosures.  The average time in Florida is expected to reduce from over 2 years to more like one year. This is partially due to improved internal processing at the large banks and partially due to changes in legislation. The big banks like Bank of America and Chase went from being the slowest a couple years ago to some of the fastest today. But they are still restricted by rules and regulations, some of which are beneficial protection for consumers … [Read more...]

I recently had an investor who put all four of his rental properties up for short sale.  Three were with Bank of America and one was with US Bank.  Bank of America approved all three of their shorts though it took several months.   US Bank on the other hand denied the short sale because the seller had never lived in the home as his primary residence.   US Bank did not respond to the legal team who was processing the short.  Instead they called the owner’s wife at her home and asked … [Read more...]

The past few months have seen a flurry of sales in the under $400,000 range, but limited success in the higher dollar ranges.  Part of the reason was that Jumbo loans (those where the loan is over $442,000) did not offer attractive terms.  Banks seemed to be avoiding big loans to limit risk.  That is changing. All of a sudden we are seeing new loan offerings that make it clear that some banks are getting back into the Jumbo market.  Scott Kolbe, from the Penny Hill Team at Wells Fargo, … [Read more...]