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Sarasota Florida For Sale by Owner Resources – FSBO Facts
Each year a small army of home sellers throw caution to the wind and “go it alone” — without the assistance of a licensed real estate professional.
This ever-decreasing band of risk-takers in Sarasota Florida, ventures into the land of pricing, marketing, screening, scheduling, showing and paperwork, with the goal of saving some money. It’s often an experience they find less than rewarding.
The numbers (if not the sellers) tell the story.
In 2006, just 12 percent of sellers chose the FSBO (“For Sale By Owner”) route, down from 13 percent the previous year, according to NAR’s 2006 Profile of Home Buyers and Sellers. This is down from about 20 percent in 1987.
But more telling than the decline in FSBOs is the fact that 40 percent of all FSBOs sold their homes to someone they knew prior to the transaction. This means that only 7 percent of all home sales are open market FSBO transactions. The rest are simply unrepresented sellers in private transactions.
From NAR’s 2006 Profile of Home Buyers and Sellers
Eighteen percent of FSBO sellers indicated that preparing the home for sale was the most difficult task when selling without the assistance of an agent, followed closely by understanding and performing paperwork (16 percent) and selling within their desired time frame (15 percent).
As for profit — after all is said and done, FSBOs don’t always come out with fatter wallets. Again, the numbers tell the truth.
Homes sold with the help of a real estate professional in 2006 sold on average for 32 percent more than FSBO sales. The median FSBO selling price in 2006 was $187,200, compared with $247,000 for agent-assisted transactions.
- 84% of FSBO’s eventually hire a Realtor® (realtor.org)
- According to a 2006 study by NAR® , only 12% of homes were successfully sold by the owner (realtor.org)
- In 2006, only 5% of buyers purchased directly from owners they didn’t know (realtor.org).
- The vast majority of FSBO sales were to friends or relatives (and if you’re selling to a friend or relative, it’s almost guaranteed that you aren’t getting full market value for your home).
- 91% of buyers are represented by a Realtor® (car.org)
- According to the NAR® 2006 Profile of Buyers and Sellers Report, the median sales price of sold FSBO homes was 17% LOWER than the median sales price of homes sold through Realtors®
If you would like some more information about Sarasota FloridaFor Sale by Owner facts and figure, just complete the form below.
Sarasota Florida Luxury Real Estate & Homes | Sarasota FL Luxury Homes for Sale presents Sarasota Florida For Sale by Owner Resources – FSBO Facts
Feb. 2011 – This Month in Real Estate – Facts about the Winter Market
Fact: More buyers are starting there search online and at http://www.sarasotachoicehomes.com and this is allowing them to look at properties year round. If you are waiting til the spring to list your home – spring is here and the internet does not have any seasons.Contact Sarasota Choice Homes to get your property the worldwide exposure that it deserves.
Sarasota Florida Luxury Real Estate & Homes | Sarasota FL Luxury Homes for Sale presents Feb. 2011 – This Month in Real Estate – Facts about the Winter Market
January Sales in Sarasota – Bradenton up – Florida beats national average
According to the latest housing data released by the Florida Association of Realtors (FAR), Florida’s existing home and existing condo sales both rose significantly in January 2011.
Existing home sales increased 14 percent last month with a total of 12,151 homes sold statewide compared to 10,702 homes sold in January 2010, according to Florida Realtors. January’s statewide sales of existing condos rose 36 percent compared to the previous year’s sales figure.
Seventeen of Florida’s metropolitan statistical areas (MSAs) reported increased existing home sales in January; 16 MSAs had higher condo sales.
“Now is a great time for anyone thinking of buying a home in Florida to make that decision,” said 2011 Florida Realtors President Patricia Fitzgerald
Sarasota Florida Luxury Real Estate & Homes | Sarasota FL Luxury Homes for Sale presents January Sales in Sarasota – Bradenton up – Florida beats national average
Sarasota Area Mortgage Rate Watch – DOWN
Mortgage rates for 30-year fixed mortgages fell this week, with the current rate borrowers were quoted on Zillow Mortgage Marketplace at 4.76 percent, down from 4.84 percent at this same time last week.
The 30-year fixed mortgage rate peaked at 4.83 percent on Wednesday then dropped to 4.77 percent on Thursday before gradually increasing over the weekend, hovering near 4.82 percent until falling to the current rate.
Additionally, the 15-year fixed mortgage rate on Tuesday morning was 4.07 percent and for 5/1 ARMs, the rate was 3.27 percent.
What are the rates right now? Check Zillow Mortgage Marketplace for up-to-the-minute mortgage rates for your state.
Sarasota Florida Luxury Real Estate & Homes | Sarasota FL Luxury Homes for Sale presents Sarasota Area Mortgage Rate Watch – DOWN
Are you waiting to find the bottom of the market? Don’t Wait Any More!
It’s no secret the U.S. has been in a real estate tailspin since June 2006. More than one-fourth (27 percent) of single-family homeowners are now in negative equity, which means their homes are worth less than what they owe on them. As a result of dropping home values, we are all caught in a sort of real estate limbo: homeowners are waiting on the sidelines to sell and home buyers are trying to time the bottom, waiting for the ultimate rock-bottom bargain. All of this leads many to wonder: “when will the bottom happen?” When will this frozen real estate landscape begin to thaw?
What many people don’t consider is that home prices are only one factor in how much a home will actually cost per month. The other major factor to take into consideration is mortgage rates. And, guess what? Mortgage rates are rising. So, if you’re timing the market for home prices to hit rock bottom, you’d better pay attention to that other part of the puzzle: mortgage rates. In fact, if you’re a buyer trying to time the bottom, you could end up with bigger monthly payments the longer you wait. Here’s why:
Case Study: 100 Main Street
To illustrate why timing the bottom is risky, Zillow’s research arm recently analyzed the relationship between mortgage rates and home value declines and how they impact your monthly mortgage payment. With that analysis serving as our inspiration, we applied it to a fictional home we’ll call 100 Main St. and found that even as the home’s value depreciated over time, the actual monthly mortgage payment increased due to rising interest rates.
We assumed that 100 Main St. was worth $300,000 at the beginning of the analysis and we calculated its depreciation based on the U.S. Zillow Home Value Index, which measures the median value of all homes. We used historic mortgage rates from Zillow Mortgage Marketplace. For future projections, we used Zillow Chief Economist Stan Humphries’ forecast that national home values would fall another 5-7%, and Freddie Mac’s forecast that 30-year fixed mortgage rates would reach 5.7% by 2012.
Purchased Nov. 1, 2010 vs. Jan. 1, 2011: $63 More Per Month
If 100 Main St. was worth $300,000 on Nov. 1, 2010, and was purchased at a 30-year fixed rate of 4.1% with a 20% down payment, it would have cost a buyer $1,159 a month. But if the buyer had waited even a couple of months for home values to fall further, they would have ended up with a mortgage payment of $1,222 a month, or $63 more. Despite the 1.8% hit to the home’s value, the mortgage rate increase to 4.7% would have counteracted that. (See graphic below)
Purchased in 2012: $126 More Per Month
What if you wait even longer for home values to decrease? Based on Freddie Mac’s forecast that mortgage rates will reach 5.7% by Q1 2012 and Zillow’s projection that home values will fall another 5-7% this year (we used 6% for our analysis), you will still end up paying more for a house. Although the home will be worth $23,000 less than it was in November 2010, the higher mortgage rates will leave the buyer with a monthly payment of $1,285, which is $126 more per month than if 100 Main St. was purchased 14 months prior.
We’ve always advised consumers against trying to time the market bottom and even economists don’t agree when it will happen. What’s most important for consumers is to control what they can: their finances and their knowledge base. Take the time to figure out your financial situation and use mortgage calculators that will help you estimate how much home you can afford. Since mortgage rates change on a daily basis and can vary from lender to lender, make sure to shop around on sites like Zillow Mortgage Marketplace to find highly competitive mortgage rates. When you do purchase your next home, make sure it is a place you can see yourself living and affording for the next five to seven years. And remember, even if mortgage rates do climb to 5.7 percent, they are still historically low and home prices in many areas are as affordable as ever.
Sarasota Florida Luxury Real Estate & Homes | Sarasota FL Luxury Homes for Sale presents Are you waiting to find the bottom of the market? Don’t Wait Any More!
Sarasota FL Luxury Real Estate – The CHOICE is Clear
If you are looking to buy or sell a Luxury Home or Condo in the Sarasota Florida area, you should google – Sarasota Choice Homes.
Sarasota Choice Homes is the Clear Choice when it comes to buying or selling a home or condo in the Sarasota, Longboat Key, Siesta Key, Casey Key, Venice and surrounding areas.
Our focus on marketing and exposing your property to the maximum amount of potential buyers is second to none.
Sarasota Choice Homes – Keller Williams Realty
Sarasota Florida Luxury Real Estate & Homes | Sarasota FL Luxury Homes for Sale presents Sarasota FL Luxury Real Estate – The CHOICE is Clear
Choice of the Day – 481 E Royal Flamingo Dr, Sarasota, FL 34236
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Lovely 4,000+ square foot home on the private East Royal Flamingo street in Bird Key. The perfect location for its proximity to the Bird Key Yacht Club; easy boating location to be in the bay in minutes! This home was made for outdoor living with its over sized pool and gracious covered lanai. The healthy yard leads to your deep-water dock with lift and bonus lifts for jet skis or kayaks!
Sarasota Florida Luxury Real Estate & Homes | Sarasota FL Luxury Homes for Sale presents Choice of the Day – 481 E Royal Flamingo Dr, Sarasota, FL 34236
Get your Spring Maintenance List together is selling your homes
The spring real estate market is approaching, and this year there is no federal tax credit to get wary buyers off the fence.
A recent survey of 3,500 U.S. homeowners and renters conducted for the National Association of Realtors by Harris Interactive found that 60 percent of those who would like to own a house worry about job security and creditworthiness.
That said, some area real estate agents say they think the market may be rebounding because prospective buyers fear interest rates are permanently back on the upward trajectory and they need to get in the game.
In a market where financial motivation is canceled out by financial apprehension, the state of each house for sale becomes even more important to getting a deal done.
Buyers are still looking for “perfection, with comfort.
Sellers who have let things slip may have a lot of work to do before their house can be considered ready for the market.
Deferred maintenance “is almost a death sentence” for a listing these days. “Things like nail pops and settlement cracks, while often easily repaired, are not being tolerated.”
Because, buyers surmise, if there are nail pops, there must be something wrong with the rest of the house.
Home inspectors typically enter the process after an agreement of sale is signed, examining nooks and crannies under the watchful eyes of agents for both anxious sellers and edgy buyers.
Sarasota Florida Luxury Real Estate & Homes | Sarasota FL Luxury Homes for Sale presents Get your Spring Maintenance List together is selling your homes
Selling a Beachfront or Waterfront Sarasota FL Home – 11 tips
Great Advice from Ray Pugel – designated broker for Coldwell Banker Bishop Realty.
Ray Pugel is a designated broker for Coldwell Banker Bishop Realty.
Top 11 things you can do to sell your home
– Price your home competitively.
If your home has been on the market for a period of time, ask your real estate agent to give you fresh information on what has sold in your neighborhood and re-price your home to be competitive with other homes on the market.
– Stage your home.
Walk in your front door and look at your home as if you were a buyer. Are there things you can do to make it more attractive? Rent a storage unit and clean out the clutter.
– Take down the Christmas lights.
It is long past time to put those away.
– Paint the front door.
According to research, the front door gives a first impression. If it is not welcoming, the buyer may not have a good first impression.
– Enhance the exterior appearance.
Even in winter there are things you can do to enhance your home’s landscaping. Get rid of the fall leaves. Sweep the gravel off the sidewalk and driveway.
– Repair those things that you know need repair.
If you can see it, the buyer can see it. If the buyer can’t see it, they will find it during the home inspection.
– If you have pets, check for odors.
We have observed that one of the biggest turn-offs for many buyers is to walk in a home and smell pet dander or urine. Have your carpets professionally cleaned and deodorized.
– Paint gives you the cheapest cost and greatest return on your investment.
If the exterior needs a refresh, consider it. If your interior has Jimi Hendrix “Purple Haze Purple” on the walls and you love it, chances are the buyer will not. Go with neutral colors.
– Clean.
Wash and polish the kitchen cabinets. Make the floors sparkle. Clean windows give a better view of the outside world and the back yard where the buyer can envision themselves relaxing in our spectacular weather. A clean home will sell faster because it exhibits ongoing maintenance and pride of ownership.
– Vacate.
When your home is going to be shown to a prospective buyer, take a walk or go get a piece of pie and cup of coffee at your favorite restaurant. If you are dieting, just stick with the coffee. Let the Realtor show the home and point out its good features. A buyer can feel intimidated if you are looking over their shoulder during the showing and may make a hasty exit to the door.
– This is a bonus.
Do not listen to your neighbor’s or Uncle Freddie’s opinion on the price of your home. It is usually wrong and inflated. Have a Realtor give you a comparable sales analysis of your home’s value.
Sarasota Florida Luxury Real Estate & Homes | Sarasota FL Luxury Homes for Sale presents Selling a Beachfront or Waterfront Sarasota FL Home – 11 tips
2011 the year of the housing recovery – 2011 Market Forecast
Ask someone when housing will return to normal and you will likely hear forecasts ranging from a few years to never. Why? The usual litany of conditions – especially weak employment. And now mortgage rates are over 5%!
So, what about this proposition: That 2011’s housing market could be better than expected – even robust? Here’s how it could happen…
The housing market’s drivers are looking good
1. Affordability – A combination of house price and mortgage interest rate (both are currently attractive – more about interest rates below)
2. Mortgage access – Capacity and willingness of banks to lend (plenty of money; willingness is improving)
3. Homebuyer capacity to buy – Employment and salaries/wages (more about this below)
4. Homebuyer willingness to buy – Confidence and attitude (consumer surveys have turned up; retail sales show a willingness to spend; recession’s slowdown in family formation means pent-up demand)
Sarasota Florida Luxury Real Estate & Homes | Sarasota FL Luxury Homes for Sale presents 2011 the year of the housing recovery – 2011 Market Forecast
Tips for Preparing to Sell your Sarasota FL area home or condo
You’ve probably seen those depressingly cheery home-themed TV shows: a couple needs to sell their house, they have an outdated kitchen, and a designer comes in and proceeds to convince them to renovate the kitchen into a stainless-steel-clad shrine to culinary greatness—for tens of thousands of dollars. In an ideal real estate market, that would add value, but in today’s market, expensive pre-sale renovations, for the most part, aren’t worth it. The numbers bear this out: In general, a home remodel will cost quite a bit more than you’ll get back when you sell; remodels done in 2010 will only recoup 60% of their price when the house is sold, according to Remodeling magazine’s 2010 Remodeling Cost vs. Value survey, done in partnership with the National Association of REALTORS® (NAR).
Two of the areas that potential buyers are often most pressured to remodel before selling are the kitchen and bathroom. Here, we’ll tackle both of those rooms, and let you know what to do—and what to avoid—when considering a pre-sale renovation:
Kitchen
-Don’t put in expensive professional-grade cook’s appliances. You may choose a tricked-out, $10,000 Wolf stove, but the buyer may be a loyalist to Viking. Or, even worse, the potential buyer might be a take-out addict.
-Do, however, service the appliances you have, so that they work perfectly. And, if you have seriously outdated appliances that can be replaced for $1,000 or less (like swapping a dingy old fridge for a basic new one), that’s a good idea. Similarly, if there are any appliances that you lack, which most buyers consider essential, it makes sense to buy one (like a dishwasher—you can get a nice model for under $1,000).
-Don’t replace your cabinetry entirely—even if it’s a little outdated. It’s just too subjective. You might think sleek, white Scandinavian cabinets are the way to go, but you’ll be in a bind if your potential buyer prefers dark wood.
-Do invest in cabinet refacing if your cabinets are extremely outdated. Many refacing companies will give your cabinets a fresh façade for well under $2,000, and it’s a good investment in creating a positive impression of the room without doing a pricey knock-down.
-Don’t go granite crazy. Or marble. Or etched-Murano-glass-accented tile. Spending thousands of dollars on a new countertop and backsplash is downright dangerous, as there are so many different options these days, it’s impossible to find one that will please most people.
-Do hire a professional cleaning company to come in and make what you have sparkle. While this won’t magically make your tile look magazine-spread-worthy, it will certainly make it look a lot better, as discoloration from age often makes tile look even worse.
Bathroom
-Don’t do expensive tub/shower repairs or replacements. Just like with the big-ticket kitchen fixes, this is a matter of taste. If you put in a round jetted tub, what if the buyer wants square? And is an amethyst-crystal steam shower really something everyone will love?
-Do replace dated bath and shower fixtures; this can be done generally quite inexpensively. For instance, if you have a 30-year-old, tiny showerhead, replacing it with a large, rainwater-style model will lend a subtle spa-like quality without costing a lot.
-Don’t replace your smallish vanity with a new, built-in model. A lot of remodelers emphasize the intrinsically relaxing qualities of having all your toiletries, towels and even reading material beautifully organized in one big unit made of high-end wood, marble and chrome. And it is certainly beautiful. But it’s also a risky choice, and a matter of taste.
-Do freshen up the vanity area. Invest in a big mirror and put bright lights over it. And a few hundred dollars spent on a nice faucet is well worth it, as, like the showerhead, it’s a true basic—and updating the basics, in most homes and markets, is all you should be focusing on.
Other tips for redoing your kitchen and bathroom frugally
Kitchen:
-Declutter your counters. A disorganized kitchen is a buyer-deterrent. Clean up the counters and pare down countertop items to the essentials—toaster, microwave, coffee pot and not much more than that.
-Keep your pantry and cabinetry clutter-free too. You don’t have to alphabetize your cereals—just know that potential buyers will probably open those cabinets, so they won’t want a ladle falling out on their head.
-Give your kitchen table or breakfast bar some life. It’s simple—placemats, a colorful vase or two and a tasteful flower arrangement will reinforce the idea that the kitchen is the heart of the home.
Bathroom:
-If you want to add a little life to the wall, try a simple, straight-lined wood or stainless-steel floating shelf with a few candles on it. It’s an elegant, boutique-hotel touch that doesn’t cost much.
-Toss down a colorful floor mat. Bathrooms are often devoid of color; this is a great way to add that color, and a little warmth.
-Again, clear clutter. Even your beauty essentials shouldn’t be on the counter if you’re in the open house stage.
Dan Steward is president of Pillar To Post Professional Home Inspections.
For more information, visit www.pillartopost.com.
Sarasota Florida Luxury Real Estate & Homes | Sarasota FL Luxury Homes for Sale presents Tips for Preparing to Sell your Sarasota FL area home or condo
| Areas Served by Bird Key Choice Homes: Bird Key FL Home for Sale: You can use this site to search for Bird Key luxury homes, Bird Key condos for sale, Bird Key waterfront homes, Bird Key beachfront homes, Bird Key beachfront condos & Bird Key foreclosures & short sales. Barrier Islands / Keys: Longboat Key, Lido Key, Bird Key, Siesta Key & Casey Key Surrounding Areas & Choices: Bradenton Fl Homes for Sale, Cortez FL Homes for Sale, Holmes Beach FL Homes for Sale, Osprey FL Homes for Sale, Nokomis FL Homes for Sale, Venice FL Homes for Sale, Englewood Fl Homes for Sale. Featured Property for Sale: Some of the best properties for sale are displayed right here. As experts in the Sarasota Florida real estate market, we can provide you detailed information on these homes, or any others! Email Listing Alerts: Be the first to know what’s coming up for sale in the Siesta Key Florida real estate market with our New Property Listing Alerts! Just tell us what you’re looking for and we’ll email a daily update of all homes listed for sale since your last update. You can unsubscribe at any time. What’s Your Home Worth: Receive a complimentary analysis of your home’s approximate present value in the Siesta Key market today. Let us know if there is something specific you are looking for and we’ll find what you need. Enjoy your visit and please contact us if there is anything we can do to make your next home buying or home selling experience the best it can be! Sincerely, Siesta Key Choice Homes |
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