Sarasota Real Estate Homestead Exemption

One of the great benefits to home ownership in Florida is the Homestead Exemption. If you own a Florida home that is your permanent residence, you are likely eligile to the $50,000 entitlement.

The exemption allows for $50,000 to be subtracted to the assessed value of the home prior to the calculation of taxes. Once a home is homesteaded, it is protected under the "Save our Homes" cap, which stipulates the property's assessed value cannot increase more than 3% per year, a protection that greatly benefited homeowners during the recent boom.

In order to qualify:

* You must hold title to the property
* You must reside in the property (more than 6 months per year)
* You must be a permanent resident of the State of Florida

You must apply in person at the property appraisers office (information below) before March 2nd of the qualifying year in order to receive the exemption.

You will need to bring the following items, which must have been obtained before January 1 of the qualifying year. If a husband and wife reside in the home, these items are required of both.

* Tax bill or deed
* Florida drivers license
* Florida Voters Registration Card or Declaration of Domicile
* Florida Automobile Registration
* Social security number

Resident aliens must present their Permanent Alien Card along with a Declaration of Domicile.

Applications are taken Monday through Friday at one of the following Property Appraiser offices:

2001 Adams Lane, Sarasota FL 34237 (941) 951-5650
4000 South Trail, Room 115, Venice FL 34293 (941) 492-3030

www.SarasotaProperty.net

Sarasota Real Estate - Rates Hit Record Lows

The average interest rate for 30-year mortgages has fallen to the lowest level since Freddie Mac began compiling its weekly survey in 1971, declining to 4.71 percent this week from 4.78 percent a week ago.

Rates also were more attractive for 15-year fixed loans, which fell from 4.29 percent to 4.27 percent, but many consumers may not have qualified for them because they now face higher credit standards from lenders.

This of course bodes well for the continued recovery of the real estate market as more people are drawn to buy, attracted by the combination of low rates and low prices.

Invest in Sarasota Real Estate? Yes and No

The investors are back in Sarasota.

After a 3 year hiatus, the front runners - those investors who come back buying before the general population - have been here in Sarasota for months.

While I do agree heartily with investing in Sarasota property right now, I have to throw in this caveat - buy NOW. Sell later.

Flipping of property, or buying/rehabbing/reselling, is still very risky business. The "general" buyers are still making their way into the market. Not to mention, prices are still low.

Given the ability to purchase homes well under market value, the smart investors are buying now, at the bottom...renting the property for a year or more to allow market recovery while collecting income...and then planning to sell at that time.

Investing in real estate is always smart - you just need to know how to read the market for your maximum benefit.

Sarasota Real Estate Market Encouraging - Again

The skeptics are running out of ammunition.

While the numbers have been on a steady positive trend for months now, many have remained reluctant to acknowledge that the real estate market may actually be recovering.

However, the October numbers recently released show that yet again, Sarasota area sales are up 50%. It seems that the tax credit, coupled with fire-sale pricing, is bringing buyers out in increasingly strong numbers.

Deals are still to be had as median sales prices are not yet recovering, but buyers are learning that the very best deals don't last long. Some are even selling over list price, unheard of just a short year ago.

With the tax credit now extended to all buyers and through the Sarasota high season, we expect to see sales numbers -and competition for the best properties - to rise quickly.

Loan Limits Extended - Tax Credit Next?

In an effort to spur the real estate market, Washington is attacking the issue on various fronts. While the homebuyer tax credit remains on the floor - discussing both extension and expansion - another key issue has been resolved.

Last week, the House and Senate passed legislation to extend the current loan limits for FHA and Freddie Mac and Fannie Mae through December 31, 2010. These loan limits, set at 125% of local area median home price and capped at $729,750, would have expired on December 31, 2009 in which case loan limits would have been reduced in many markets. The President is expected to signed this bill as of this writing.

Cash buyers continue to enjoy the greatest savings in this market, as they have the agility and ability to pick up the deals quickly.

Real Estate Cynicism

A friend of mine recently closed on a home. He had waited 3 years to purchase. He watched the markets carefully. He finally decided on a great home in a highly desirable subdivision. He got the home for 50% of what it sold for 3 years ago, and a full 10% under the current market value.

His comment to me? "I just wish I could prevent the powers that be from using this sale as part of the 'market is recovering' hype"!

Now, I understand a healthy dose of caution when purchasing in this, or any market. But to be so cynical just after making such a great buy? His take on it is that although he purchased, he didnt want someone else to use him as an example of a recovering market.

Folks, the market starts recovering when people start buying. Even at depressed prices, decreasing inventory means less available to purchase. Homes selling more quickly means that we begin to see "list to sale" ratios declining and approaching equilibrium.

Lately, there is a lot of resistance from sellers to go any lower. Just ask a few of my buyers who have been frustrated on several properties. On others, there are multiple offers. These are all signs of a market that is ready to recover, if it is not well on its way.

It's not "hype" if all the numbers are favorable. If people are buying. If inventory is decreasing, sellers are holding, and buyers are competing. Its reality.

Could something happen tomorrow to change those facts? Of course. But for now, things are heading in the right direction.

Sarasota Short Sale Pricing is Changing

This week we received word that the short sale process is being revamped and standardized at the highest levels. The most welcome news is that if the new provision passes, the banks will actually be setting the short sale price, not the listing agent.

I have heard a collective cheer go up amongst my customers. The short sale process is daunting, and most frustrating for many people is seeing a price on a listing that may not be acceptable to the bank, even if they make a full price offer.

I have noticed lately that when the daily "status change report" makes it to my inbox, that many properties have raised their price by a considerable amount. Further investigation shows that they were a short sale that has gone pending at the higher price. For instance, this morning, a home which had been listed at $109K went pending at $136K. What happened? This may be price the bank would actually take as opposed to a fantasy price set by a well meaning listing agent.

So when the short sale pricing is set by the bank, the issue of "list price reality" will be solved. What folks are not going to like, however, is that the false veil of "rock bottom prices" will be lifted. Many people express shock when a home goes into foreclosure, and the bank actually raises the price of the home from its short sale levels. It's not a surprise to me - the bank is simply finally revealing what they will accept. The reality of that number has been the same all along - we are simply finally privy to it.

Take heart, folks. Many of those prices werent real anyway. I for one would rather deal with accurate reality than fantasy.

Postscript

There is a whole other discussion to buying a short sale - if the short sale price is unbelievably low, the chances of the winning bidder paying that price is slim. They probably made an offer OVER list price. If the home is set 50% below market, making an offer 5-10% over list still makes perfect sense in order to score a great deal over the competiton who are likely offering at or less than list. In case this all sounds familiar, it should. It's called a "bidding war", and it happens in any market for well priced properties.

Sarasota Real Estate Numbers

Trends continue to signal recovery in the Sarasota market according to the Sarasota Association of Realtors September report:

* Home and condo sales skyrocketed - a 35% increase in sales over September of 2008

* Sales up 10% over August in our traditionally slowest month

* Pending sales have exceeded 800 for 7 of the 9 months in 2009, after lingering between 400-500 much of the last two years

* Time on market numbers are down to 9.8 months from over a year for a single family home - 6 months is considered a market in equilibrium

* Inventory numbers - 3,915 single family homes and 2,337 condos - are the lowest they have been since August 2005.

Median sales prices are lower , fueled by short sales and foreclosures. As these inventories dry up, prices will again begin to climb and we will begin to see more multiple offer situtatons - bidding wars - on the best properties.

Right Under Your Nose

The market has been abyssmal for so long in Florida, that there is a sense that it will never change. Buyers are content in the knowledge that they are firmly in the catbird seat, and that they should still wait out the "bottom" of the market.

The problem is, that as exclusive buyer agents in Sarasota, we are seeing the exact opposite. Three times this week, my buyers found themselves in multiple offer situations. Often, these situations are resulting in the successful bidder offering list price or higher to get the property.What is happening? The best deals are being scooped up quickly, and there is no more luxury of "wait and see". The fact is this - the list price is the most irrelevant number in the whole process - the VALUE is what is important.

Its a strange time in the Sarasota real estate market. The prices have fallen remarkably low. However, no matter how low they fall, buyers still seem convinced prices are too high. With all evidence to the contrary, they want to lowball the offer thinking that the seller will be thrilled to get an offer. However,the sellers have come to the opposite conclusion. With inventory shrinking, and sales AND values rising - they think they have gone low enough. With season approaching and news media reporting that everyone should consider a Sarasota real estate purchase - they are feeling more empowered than they have in years.

So what happens when buyers don't want to admit that times are changing, and sellers insist they are? Buyers are often missing out on incredible deals as savvy investors are buying the best deals right out from under them. The market is undeniably changing. Buyers will need to adjust their thinking or face the fact that they missed the opportunity.

The GREAT NEWS for buyers? The prices are likely still near the bottom, the properties are still available, and the deals are still there. For now.

Why didn't you show me this one?

As exclusive buyer agents, we look at a lot of property. We research neighborhoods, scour county records, and run out to preview homes that look like great deals as soon as they are listed. We pride ourselves in knowing the current inventory in Sarasota.

Often people will call us and give us their criteria, asking for our assistance in finding a great property. Criteria usually includes price range, monthly budget, lifestyle preference, and size of home. Most often, I begin to visualize great options before I even open up the search screen.

Because of the great tools on the internet, folks can search on their own. This is valuable to us, because we can begin to see those types of properties that catch your eye. The most common question I get, though, is "Why didn't you send me these homes? (see attached link) They look great!"

The answer lies in access. I simply have more access, and more information, than you do when looking at listings. It's a perk of the license. The most common reasons I didn't send you the "perfect home at the almost unbelievable price" include:

1) The home isn't in Sarasota. Yes, I know the listing says it is. But it isn't. Sometimes listing agents put a more desirable address on a property. You can't tell its 30 miles away and 15 miles from a beach. But I can.

2) It's a short sale. Some clients are well educated on the short sale process and are willing to take on the challenge, and the waiting game. Many others do not have the time luxury to wait around months for a bank. Unfortunately, the listing that you see doesn't always say that the crazy low price you see is actually not bank approved. If you are looking to buy within a time frame, a short sale is not for you. But you can't see the status.

3) I know why its so cheap. It backs up to a major road, or is located next door to a garbage dump. Or it may just have really small lot sizes. Whatever the reason, you have told me your criteria, and I know this won't cut it for you.

4) Country clubs cost money. In this market, many of the homes in the country clubs have dropped in price dramatically, making lovely homes seem too good to be true. But while the home is great, and the community is awesome, there is a required membership fee to the club - and what I have learned in in most cases, only the most avid golfer is willing to pay a membership fee that seems pricey given the price of the home. By the same token, some condos have low prices, and sky high condo fees. These are often not evident on your information.

5) Your kids, your dog, or your work truck are not welcome there - That sounds terrible, but 55+ communities often will not allow occupants under 18, many places have pet policies, or HOA rules. Based on what you told me, I know you aren't moving here without your dog - or your kids! :) So I didn't include the property. Another spin on this is when you are looking for investment/rental property, and the association does not allow rentals.

I understand that when you see a home that looks fantastic, you want to know the information on it! And I am happy to provide it. Just know that we are working diligently behind the scenes, looking at every listing, evaluating if it is good for one of our folks, and sending it along to you. We are also screening the homes that may look good on the surface, but we know to be contrary to your needs or budget.

Together, well find a great Sarasota home.

Are you working with a Dual Agent?

In Florida, real estate agents have a legal obligation to disclose their relationship to you before you enter into real estate transactions. Most often, although the terminology may be different, these agents are "dual agents". Dual agents represent both sellers and buyers. There’s one clear way to prevent representation from a dual agent: Assume most real estate agents are dual agents, then ask them.

However, there is more to the issue than simply asking, “Are you a dual agent?”

The problem is that this question doesn’t get to the heart of the matter, leaving a little too much room for interpretation. For instance, an agent assigned solely to representing that firm’s home buyers could reasonably answer, “Of course not.” Meanwhile, his or her colleagues are actively adding listings for sale on the multiple listing service.

Here’s the question that gets right to it, leaving no room for creative interpretation: “Do you, or anyone in your firm ever list homes for sale?”

Some agencies might reassure saying the two functions are kept completely separate, with different agents representing buyers and sellers. But remember, when a house sells, real estate agencies split a commission of the purchase price. When an agency represents both seller and buyer, it also splits the commission—and then gets to keep both halves!

So ask yourself, what is the true reality that there will not be an implied incentive to sell the company's own listings? And that you will be presented, up front, with ALL the properties that match your requirements, regardless of who listed them?

The biggest issue that has bothered me is this - when you work with a real estate agent, you are actually represented by the brokerage firm. If this firm has entered into an agreement to get the highest and best fair offer for their seller's home - how can the same brokerage effectively negotiate the LOWEST fair price for the buyer?

If you want true, unadulterated buyer representation, and there’s any company connection to homes listed for sale, that’s your cue to move on. You will meet resistance from the traditional real estate model, because that's the way it was always done. But this is a challenging market, and you need someone representing your interests - and yours alone.

Postscript - I am continually alarmed in speaking with people that have been out with agents and have not been presented with a representation disclosure. It is Florida law that we present you with a Brokerage Relationship Disclosure. Ask for it!

The View from Down Here

"Success is simple. Do what is right, the right way, at the right time." Arnold Glasgow

Oh that we could guarantee every move we made was the right one. As Sarasota buyer agents we are continually asked the "crystal ball" questions that all come down to this one sentiment -

"Is it safe to buy now?"

I can rattle off numbers at you. I can give you statistics. I can show you trends. Actually, I have done all that...read through the posts! Yes, it seems that in most cases, it is safe to buy right now. But you need to know what your goal is, and do the right thing to attain what you want.

If you are moving here to live indefinitely (once you get here, I predict you'll want to stay), now is a fantastic time to buy. Although the experts may disagree as to when the actual bottom will be - or already was - they do agree we are pretty darn close. As long as you have good information regarding neighborhood values, you will be just fine in the long run.

If you want to live by water or the beach, now is a fantastic time to buy. Can you get in for $200K? Probably not. But property that was listed for $1m just three years ago is now listed for $400K...this is a fire sale if ever there was one. Beach and waterfront have not lost their inherent value - we simply lost our buyers. But with so little true beach available, it will always - always - retain value. Investment 101- buy low!

If you want to buy and flip property, I would strongly caution you. I understand the draw. Prices in some cases are SO low that it seems like a no brainer. But the market is still not healthy enough to guarantee you can flip a property in a timely manner, especially after you sink money into renovation and upgrades. And even the aforementioned beach and waterfront property is a gamble - high end properties have not been moving the way people expected them to, even at deeply discounted rates.

What it comes down to is this - if a property will make you happy...if it will provide years of enjoyment...if you have always dreamed of sunsets over the bay - this is one of the best times in decades to buy a Sarasota home. If its strictly business, I recommend you build in a good amount of time needed to re-sell the property.

Overall, the view from down here - is looking up.

Forest - Meet Trees

You've heard the saying "you can't see the forest for the trees". Simply put, sometimes we get so hung up on details, that we fail to see the big picture.

In this real estate market, we see it alot. Caught up in the negotiation game, buyers walk away from a GREAT deal because the seller wouldn't give "just a little more". People pass on an incredible deal because the home needs new carpets...or a new roof...or an updated kitchen. But when a home is priced at 50% of market value, adding in the cost of these upgrades still makes it a steal.

Every day new clients tell us that they want "alot of house, a little bit of money". Of course they do, that's what everyone wants. But in the quest for the needle in the haystack, the deal of a lifetime, they often overlook opportunities that are, quite frankly, disappearing quickly.

As unfair as it may seem to everyone else, the incredible steals are sold to Sarasota area locals within hours of listing. The good news is, though, that with a qualified local professional sorting through the opportunity, we can still get you a fantastic deal before the window closes...

It's Not a Lowball Offer if its Accurate

I can't believe its still happening.

A seller puts a list price on their home. Apparently, they either have a misguided agent, or they choose not to listen to them. Granted - its a great house! But the home is grossly overpriced based on current market value and comparable sales. With the neighborhood knowledge we have, we can spot them immediately as overpriced for that area. I understand the psychology in play, but this market demands reality.

When our clients make an offer on a property, they do so with every bit of information we could find on value, comparables, upgrades, upcoming assessments...and we make FAIR OFFERS. Now, if someone has overpriced their home by $100K, and I make an offer $100K under their asking price, its not a lowball offer. It's a realistic offer. A market offer.

My home is worth about $400K in todays market. I can put a list price on the home of $750K if I want to, there is nothing to stop me. So does that mean if someone offers me $450K, that they are "low-balling" me?

No.

Sellers need to be open to hearing about the reality of market value, and realistically price the home. Then they, like other well priced properties, will likely experience multiple offers as the market improves. But getting offended because someone undercut your inflated price is not going to sell the home.

By the way, the elephant in the room is this - no matter what the agreed upon contract value, the home has to appraise. These days, getting a generous appraisal is unlikely at best. If you truly want to sell your home, take a deep breath, and find out what its worth and price it accordingly. Then my offer will be right in line with your price, and the deal will get done.

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Why Buy Before Season in Sarasota?

"Season" - Sarasota residents have a love/hate relationship with this time of year. Officially November through May, the real brunt of season is New Year's through Easter.

What is "season", exactly? Sarasota is a town with a growing residential population, but given our gulfside location, fantastic beaches and year round golf - we also have a huge popualtion of "snowbirds" and part-time residents. Add to those numbers the influx of tourists and vacationers, and the Sarasota population swells to twice its normal size.

While it can get a bit more crowded, season is a boon to local businesses, who often rely on seasonal visitors to sustain their business for the rest of the year.

With experts coming to a consensus that the overall market is heading for recovery, we have our own indicators. Sarasota's sales numbers are up, and our inventory is decreasing. Prospective buyers are reporting that their favorite "Watch properties" are being sold, and we are beginning to see multiple offer situations again on well priced property. US News and World Report says we are the 2nd most undervalued market in the country. Sales are expected to tick up as the first time home buyer credit program expires in November, further depleting inventory.

How does this tie to season? In Sarasota real estate, season has traditionally brought an upswing in prices as sellers anticiapte the influx of prospective buyers. While in recent years sellers weren't quite so optimistic, this year we are already seeing increases. With all the positive news, and homes selling better than they have in years, there is a real possibility that the months prior to season are a closing window to the best deals.

Besides, if you own property during season, you can rent it out ! We are, after all, a seasonal town. And traffic aside, for the most part, we love it.

More Assistance for 1st Time Buyers

FannieMae announced this week new rules regarding the sale of their foreclosed properties. From now on, properties must be on the MLS for at least 15 days prior to any cash offers being made.

This move is structured to assist buyers who will occupy the home, and have lined up solid financing. In the current "cash is king" envoronment. cash investors were scooping up great deals on foreclosed properties and effectively locking out the traditional buyer.

This new move will allow prospective owners to see a home and negotiate an offer before the cash investors swoop in. This move should go a long way to helping the "ordinary home buyer" take advantage of the great deals in this market.

For more information, give us a call.

Sarasota Real Estate Sales Trend Up

From the Sarasota Association of REALTORS:

The Sarasota real estate market in July 2009 was substantially more robust than July 2008, with total unit sales up 29 percent to 595, and the months of home supply on the market once again dropping to levels not seen in three years. There were 450 single family and 145 condos sold in July, compared to 331 and 130 last July.

July 2009 sales were only 15 units lower than last month, when overall sales rose above the 600 level for only the second time in 26 months. The statistics all continue to point to a market in the initial stages of recovery, with other news outlets reporting the bottom of the market.

Inventory levels continued to decline and now are at the lowest level in more than 5 years.

Sarasota Real Estate at the Bottom?

Recently, one of our clients complained that although there are many homes on the market, that there didn't seem to be much of interest. She is not alone - many folks have begun to realize that many of the best properties have indeed been scooped up.

This anecdotal evidence dovetails nicely into the recent news from the AP stating that we are at the bottom of the real estate market. Sales are up, inventory is down - and as mentioned, the really good inventory is dwindling quickly.

Over the last couple of years, when I was asked when the bottom of the real estate market would be, I spoke what I felt to be the truth. The market will be at the bottom when the media declares it to be so. The reason is that people in general wait for the indicators to tell them it is "safe" to buy. Once we are told we are at the bottom, the actual validity of that statement matters little - it becomes a self fulfilling prophesy. With consumer confidence up, the numbers backing up the recovery and the added bonus of the first time homebuyers tax credit - I expect sales to ramp up considerably in the coming months fueling the Sarasota recovery.

This realtor sees things looking up.

Sarasota Buyer Agents - Going Green

Sarasota is a beautiful natural paradise, and this town attracts people who love the outdoors and are largely committed to staying active and healthy. The opening of several new kayak launches , as well as the Legacy Trail,all speak to that. The newest hot restaurants in town include Lonjevity Cafe, a vegetarian and health food restaurant which boasts downright tasty entrees. What's next? Green real estate!

There are many designations that a realtor can obtain. They include specialization in second home purchases, resort properties, even international buyers. All of these have special significance in the Sarasota market, which is why we are dedicated to educating ourselves on all these specializations. The latest achievement recognizes the growing awareness of our customers of environmental issues and how they affect quality of life.

The Green designation certifies that your Realtor has awareness and knowledge of green building principles specifically applied in residences. They have been schooled in how to guide buyer-clients in purchasing and retrofitting green homes, as well as becoming an advocate for greener homes in the community. They have knowledge of the cost/benefit value of green homes and features, resource-efficient home systems, appliances, building methods and materials, benefits of an energy audit, sources of VOCs and toxins that impact indoor air quality and the environment


William True, Broker, is one of the first Realtors to earn this important and relevant new designation, proving once again our dedication to ongoing education to the benefit of our clients.

Top 5 Reasons to Buy a Home in 2009

For every realtor that says its time to buy, there is someone calling us opportunists and liars. I understand there is a lot of fear in the market and the economy. However, investment in a home, under the right conditions and if qualified, is still a smart move. What are the right conditions?

1) Ample inventory - you've heard this one before. But why is this important, really? It's simple supply and demand. If one seller is not willing to negotiate , the next one may well be. With far more sellers than buyers, the seller is loathe to let a buyer get away, giving buyers ultimate bargaining power.

2) Low interest rates - Buying an affordable home at a high interest rate cancels out the savings. Buying an affordable home at a low interest rate is the optimum situation, and its where we are now. Having a low interest rate can save you more money over the long run than buying a cheaper home - having both variables in your favor is the best of all worlds.

3) Buy vs. Rent - in the Sarasota metro area, it is now proving to be cheaper, monthly, to buy a home than to rent. Many people cite fear of employment instability in the future as a reason not to buy. However, in either scenario, you have a cash outlay every month. If it is cheaper to pay a mortgage rather than rent - and it buys you equity in a long term investment - it seems the practical way to go.

4) Tax Incentives - The Federal first time home buyer tax incentive is a great reason not to put off your purchase. Complete the transaction on your new home by November 30, 2009 and you are eligible to receive up to $8,000 back as a tax credit. The program is for first time home buyers , or people who have not owned a home in the prior three years. It is retroactive to homes purchased from January 1, 2009 but it does expire soon.

5) Closing Cost Credit - The same Federal program can be used against your closing costs, greatly reducing your out-of-pocket when you purchase a home.

You need money to buy a home

Sounds logical, doesn't it? Unfortunately, many folks have been misled as to what it actually takes to purchase a home - and what they will need to bring to the table.

The main discrepancy I see is the confusion between your down payment, and your closing costs.

The down payment is the amount of money that your lender will require that you pay upfront on your home. Based on the loan terms, this amount will vary but at this point in time, you will need AT LEAST 3.5% down on a home purchase. To put this in perspective, when buying a $150,000 home, the lender will require at least $5,250 to be placed towards the purchase. Remember, this is a minimum.

This amount of money, however, is not to be confused with closing costs. In Florida, the buyer will incur closing costs of roughly $2,270 on the same $150,000 purchase, which includes title insurance, required taxes, and professional fees. For a handy closing cost calculator, check out

http://www.sarasotaclosings.com/ClosingCostCalculator.shtml

Perhaps the most misunderstood element of money required at closing, however, comes in the form of lender fees. When obtaining a loan, the lender will assess fees. Make sure that you get a clear schedule of fees from your lender.

You will also need to pay for inspections and appraisals, and possibly a survey. Together, these are generally about $1,000. Often, these can be paid at the time of closing and "added into" closing costs.

This blog is not to scare you, simply to point out all the elements involved.
1) Down payment
2) Closing costs
3) Inspections, appraisals etc
4) Lender fees

IMPORTANT - if you are a first time home buyer, you are likely eligible for the federal governments tax credit up to $8000. This credit can be applied to your closing costs - however cannot be used for your down payment.

Choosing a Sarasota Agent

A recent story out of Hollywood related that the widow of TV pioneer Aaron Spelling, when selling their $150 million dollar mansion, allowed her dog to pick her real estate agent. She simply allowed the dog to sniff the agents - if he reacted badly, they were sent away. Ultimately, the dog approved of one of the agents who got the listing.

Most of our clients (ok, none of them!) are in a position to buy and sell on the level of $150 million. However, to each of our clients, the money they DO have to spend is a major sum, and is not to be treated lightly. So here in Florida, where we might be slightly more realistic than Ms. Spelling - how do you go about finding an agent that will give you the best advice for YOUR home sweet Sarasota home?

Survival of the fittest helps. As a tough housing market has dragged on, many of the agents have necessarily moved on to more lucrative careers. Those that remain likely have a following, a reputation, and a strong business plan that is supporting them in these tough times. These are the agents that have the tenacity, the commitment and the ability that has allowed them to survive, even thrive in these conditions.

But there is another trait of an excellent agent. The desire to develop skills, hone talents and always continue to grow is a rare trait in today's market, where most feel it hard to just hang on. Looking for a great agent? Look for those who have pursued additional designations and education - who have used slow times to further educate themselves to better serve you. Look for agents that go above and beyond, address your specific needs and don't just send form letters. With today's technology, everyone can set up an automatic search to alert you of new properties - does your agent offer insight and thoughts into each new opportunity as well?

I heard someone say once "I don't understand why agents get paid so much - all they do is open doors" If your experience with an agent is akin to that, I suggest you find a better agent. Today's agents are educated, dedicated, interactive and responsive business people. Don't settle for anything less.

Tax Credit Update

The $8,000 tax credit from the federal government has a string attached that many people are not aware of - the home sale must be completed by November 30, 2009.

If you are a first time home buyer, or have not owned a home in 3 years, you are eligible to receive up to $8,000 in a tax credit. Newly passed provisions also allow for home buyers to apply the credit to closing costs, or to put down more money over and above the required 3.5% ( the tax credit cannot be used to supply the required 3.5% deposit, however)

With average sales taking between 30-60 days to complete, prospective Sarasota home buyers who want to apply for the credit should plan on being in a position to purchase a home by September at the latest. First steps?

1) Get pre-qualified with a reputable lender/brokerage
2) Contact a professional buyers agent who knows the area and inventory well
3) Restrict all other major purchases that might affect your credit
4) Start looking!

Sarasota has an amazing inventory of homes in every price range for the first time home buyer. With low interest rates, low prices, and now this credit, it may be the best time in years to buy a Sarasota home.

Act Now! Home Buyer Tax Credit in 2009

Sarasota home buyers considering the purchase of their first home now have the chance to take advantage of a federal income tax credit through the American Recovery and Reinvestment Act.

This act modifies the existing, temporary federal income tax credit for qualified first-time home buyers. But the opportunity is time-sensitive, as the purchase must be made before December 1, 2009.

Qualified home buyers - individuals who have not owned a home during the past three years - can receive a federal tax credit of 10 percent of the cost of their principal residence, up to a maximum credit of $8,000. Buyers receive a tax credit on their personal income tax return in the calendar year following the year of closing on their home.

The modified version does not require home buyers to repay the credit as long as they retain ownership of the home as their primary residence, for three years. This incentive is also retroactive, covering those homes purchased on or after January 1, 2009.

To be eligible for the tax credit, qualified first-time buyers must purchase and reside in the principal residence before December 1, 2009. There are also income limits; however should a home buyer exceed the income limit, partial tax credits may be available.

The convergence of low interest rates, a healthy inventory, buyers-side power in negotiation, and this credit results in a “perfect storm” of opportunity for home buyers in 2009. Need more information? Call True Real Estate, Sarasota’s Exclusive Buyer Agents and let us help you get into that dream home.

Sarasota Real Estate Pricing

When looking for a home, especially in this market, the general tendency is to look for the lowest price. But although we love getting deals as much as the next guy, we need to throw in a word of caution.

There are many homes for sale in Sarasota that have unbelievably low prices. They generate a lot of interest and inquiries. So why aren't they selling? I'm sorry to be the bearer of bad news, but even in THIS market, if it looks to good to be true, it probably is.

1) Location - a beautiful home won't sell if its in an ugly neighborhood. Sounds harsh, but it's true. During the boom, many speculative investors and builders scooped up any patch of grass they could and built a home on it. However, if every other home in the neighborhood is 60 years old, run down or abandoned, a beautiful new home simply won't sell.

A similar problem is a home in a distressed area. If an area has alot of foreclosures, no services or amenities or is far from the beach, they may have trouble selling it with so many homes available.

2) Inherent problems - If a home needs new plumbing,, a new roof, new air conditioning and is prone to flooding, it doesn't seem like such a deal anymore, does it? Often paying more for a home is well worth it if all the major components are in good shape.

3) Environmental/neighborhood concerns - Make sure you do your due diligence on a home - are there any major construction projects palnned? Major assessments coming down the pike? Prison being built nearby? Sometimes homeowners are trying to get out of the area prior to something that may affect their market value - although that will be disclosed as you negotiate, they may hope that the price will lure you in.

The good news is, there are some excellent deals out there. You just can't go by price alone.

Top 3 Sarasota Real Estate Questions

Working with buyers 100% of the time, we find that many of the same questions and concerns arise on a regular basis. Here is a quick FAQ to help you with our most frequently heard concerns:

1) Should I buy a single family home or condo? The main concern about buying a condo seems to be the fees; about a single family home, the maintenance. The fact is, in reality you will pay about the same monthly for similarly sized properties - it comes down to semantics.

For instance, the condo fees often prove a deterrent for buyers. But the condo fees are not empty costs; condo fees generally include public insurance for the unit, lawn care and outside maintenance, pest control, maintenance for the recreational facilities, and sometimes even basic utilities. Single family homes may or may not have HOA fees, but you will have to pay lawn care, pool care, insurance, etc out of pocket.

If you will be a full time resident and don't mind doing your own lawn and home care, a single family home may be best. Seasonal Sarasota residents may prefer to have a condo take care of everything. But take heart - even if you are seasonal, there are plenty of services available to keep your home well maintained.

2) Why are the taxes so different from property to property? This is a big question, and often people prefer one $500K property over another because the taxes appear lower. The fact is, that depending on the sellers length of ownership, whether or not they homesteaded, and other exemptions can greatly affect their taxable (assessed ) value. Unfortunately, their tax rate may be completely irrelevant to yours. When you purchase a home, all levels reset to the current tax rate at market value. Therefore, virtually any $500K home will generate the same taxes. The only slight variable is within the Sarasota city limits, where taxes run a bit higher.


3) Is the Sarasota real estate market going to drop further? Oh how I wish we had the answer to this. however, from our vantage point on the ground, we can make some general observations. Well priced properties are selling, and selling quickly. This is a good sign of buyer activity. Properties languishing on the market may be doing so because the prices are still perceived as a bit high, so individual home prices may drop. But overall, we aren't seeing sellers come down too much on their home prices. Also in general, home prices appear to have less room to fall further, while condos, especially beach properties, likely will drop a bit more.

All that being said, it comes down to the individual property, and whether or not it is priced well. As full time buyer agents, we can help you spot the deals.

2009 is a good time to buy

First time Sarasota home buyers are now eligible for an $8,000 tax credit for a home purchased in 2009.

Inventory, low rates, bargaining power, and a tax credit? Seems like the perfect storm of home buying. We can help.

Let's Be Honest

Sarasota real estate is attractive right now. You know the story about the interest rates, the great deals, the home buyer's incentives. (don't know about those? Write to me and I'll fill you in)

But I am continually concerned on the social media sites when a buyer asks a question about a certain home, and the best response the realtors can muster is "I'll show it to you!"

Of course they will show a home. Its our job. The inquiry comes from a potential new client. But as a realtor who works for an agency that values our customers as lifetime clients, I cant help but feel a little awkward.

Oftentimes,the property in question is SUCH a good deal that it seems to good to be true. That's what is prompting the inquiry. If in fact the property is a good deal, let's go get it. But too often, clients are not being clued into WHY it is such a good deal.

There are communities in Sarasota which are locked in lawsuits, with an uncertain outcome for HOA fees. Others have so many REOS its like a ghost town. Still others may be great places to live, but have no children in sight for your kids to play with. I've even had people told that "every home in Sarasota is less than 10 minutes to the beach". What?

I am all about getting my clients a great deal. But it is only a good deal if the community is sound and represents a solid opportunity for recovery. Selling a home is not my goal - selling a home that is a good deal in EVERY way is.

The Times, They Are A-Changin'...

The Sarasota real estate market is changing yet again. With a couple of years of "bubble burst" under our belt, we are once again having to re-group and employ new strategies to find the best deals.

Just 6 months ago there was still room in list pricing to lower it quite a bit, situation permitting of course. We are finding that at this point, list price is alot closer to the ultimate sales price, because sellers have simply gone as low as they will go.

Although buyers have long felt that the game was to get as much off list price as possible, in todays market we are finally getting down to what is really important - which homes are a good value??

A well priced home might be worth paying full price for. There, I said it. This is completely counter to what every buyers mindset is - but I have seen too many people lose a fantastic home at a fantastic price because they wanted "just a little more off".

Let's assume there are two identical properties, each worth $200K. If one is priced at $250K, and one is priced at $175K, you obviously do better buying the lower priced home at full price than getting 20% off the higher priced home. And yet, I actually had someone say the other day "I would feel more satisfied buying the higher priced home, because psychologically I won the negotiating war"

This market demands that we stop playing games, and take a long hard look at the value of the home - if you get a deal, you get a deal. That's all that matters.

Sarasota Insurance Issues Addressed

A major insurance carrier recently announced it will no longer be providing coverage in Florida. This announcement, along with other troubling economic factors, have caused many people to worry about the ability to obtain insurance coverage at a decent rate if they purchase a Sarasota home.

My experience, even over the last months, has been that my customers are getting insurance without difficulty, and at prices they can afford. So as this question reared its head again this morning, I asked a "guest blogger" - Phil Visali from www.WeInsureFl.com - about the current insurance situation. For your benefit, here is his full response.

I understand people’s fear of not having the ability of securing property insurance in the state of Florida or paying outrageous insurance premiums. This fear is even more prevalent now that State Farm, the country’s largest insurance company has announced its plans to stop writing any property insurance in our state. Let me first say, relax and know that there are many A-rated carriers in our state that are able and willing to accept the insurance risk. They may not be well known names to your out-of-state clients but rest assured that they all have met the state of Florida’s requirement to become “Admitted Carriers.” This is important because all “Admitted Carriers” are covered by the State of Florida catastrophe fund, which provides protection for the homeowner in the event the insurance carrier becomes insolvent. This alone should give relief to your clients knowing that the state of Florida will back any “Admitted Carrier” in the event of a catastrophe.
Our agency represents all the major carriers and has the specific knowledge and expertise to recommend the right package to your clients.


If you have questions about your current insurance, or are hoping to obtain insurance in the near future, you can rest assured. To reach Phil or learn more, feel free to visit www.WeInsureFL.com or call toll-free at (866) 419-6140.

(for legal purposes, I must point out that True Real Estate is not affiliated with www.WeInsureFl.com and are not responsible for their actions. Neither are we certifying their products...simply offering an alternative. Whew! Glad thats out of the way)

Palmer Ranch Adds "Imagination"

Palmer Ranch is already a popular oasis in Sarasota - family neighborhoods, walking paths, great schools, tree lined trails.

The recent announcement that The Imagine School will open a Palmer Ranch branch proves the draw of this community just keeps getting stronger and stronger. The charter Imagine School, which recently broke ground, provides an alternative choice to parents for the education of their children.

Imagine Schools is comprised mostly of teachers, and operates 52 public charter schools and independent schools in 11 states. They educate 25,000 students nationwide. Imagine Schools was founded with the goal of restoring vision and purpose to schools and returning parents and guardians to full participation in the education of their children.

Sarasota's schools are already excellent, which explains the huge influx of young families into our area. The Imagine School will only add to our reputation of excellence.

Sarasota - Like No Place Else!

I speak to hundreds of prospective buyers of Sarasota real estate every week. Many of these folks have never set foot in Sarasota - or maybe they were here once on vacation.

It may seem odd to some that people are actively looking at purchasing a home in a place that they aren't familiar with - but I don't find it all that strange. I bought my home on Palmer Ranch after only seeing it on the internet, and having only 48 hours on the ground in Sarasota. Personally, I still claim it is the BEST THING I have ever done.

The buzz is undeniable. Publication after publication trumpets Sarasota as "the" place in Florida to raise kids, retire, have a business...the list goes on. We have beaches, business, culture, great schools and great weather - its really a pretty safe bet. I cannot even remember the last person that I toured around Sarasota that didn't fall in love.

That being said, if you haven't been here before, I urge you to keep an open mind. Often, I receive lists of criteria for their desired home - and these lists are helpful. But often, the wish list more closely resembles a home in Roanoke, or St. Louis, or Dallas...the lifestyle, homes and amenities are vastly different here in Sarasota and you will love it! But again, the best way to approach a home search in a different city is to focus less on the home itself, in the beginning - and more on your desired lifestyle. By letting us know what your hobbies are, how you spend your day, what your retirement looks like in your mind, what you want for your kids - we can begin to closely match neighborhoods to your life. And our clients dream home often turns out to be something they never considered for themselves!

Sarasota is like no other place in the world - we love it here, and we know you will too! Let us know how you live, and we'll help you find where to live .

What's Hot in Sarasota Real Estate?

The current market has opened up areas of town previously untouchable by "normal" homebuyers - those of us who do not have a million dollars lying around.

Once the playground of only the rich and famous, the hottest areas in Sarasota allow walking to the beach, proximity to all downtown has to offer, and scenic neighborhoods on the water.

Bird Key is home to multi-million dollar waterfront homes - but the homes in the middle of the Key, the "garden homes", have fallen to levels that make it completely affordable for families. Why is this Key so hot? The community is surrounded by water, is walking distance to both downtown Sarasota in one direction and St. Armands in the other - and HOA fees are a mere $380 per year! The Bird Key yacht club is available for additional amenities but is not a required expense. Lido Beach is an aggressive walk (20 minutes) or a very short drive across to Lido Key.

Just south of downtown is Bungalow Hill - an upscale bayfront neighborhood characterized by older homes, usually renovated beautifully, and situated on quiet, walkable tree lined streets. Within walking distance is Selby Gardens, the Sarasota Bayfront, Main Street, Towles Court and all of downtowns great events and amenities.

Lido Key (St. Armand's) and Siesta Key have always been favorites for those who want to walk to the beach - every day. Although very different in both personality and amenities, both Key offer what every beach lover craves - expansive, beautiful beaches and crystal water within minutes. And during season, its easy to see why beach bums want to live physically on the Key - no driving over the causeways, which can get very crowded. Both Siesta and Lido are attracting families like never before.

Buy Now, Retire Later

A recent Money Magazine article confirmed the reality that Sarasota buyer agents have been experiencing for the last 6 months - now is a great time to pick up your retirement place - even if you aren't ready to retire!

With beach, golf and resort communities at levels not seen in years, many people are seeing the opportunity to purchase their retirement home NOW, feeling pretty certain that in 10 years when they DO retire, that the prices may not be this low. And if history is any indication, they wont be.

I loved the fact that the author pointed out several points we have been making over the last year:

1) Are we at the absolute bottom? Maybe not. But we are pretty darn low, and if you can feel confident that over the long term prices will rise, its likely a great investment.

2) Buyer agents are great allies in assisting in finding the great deals, and negotiating steals based on actual data and numbers - giving you a far better chance of getting a great deal than just throwing a low number against the wall.

and # 3, and I find this to be SO important - At some point, you are likely buying a retirement home because you want to have a wonderful place to retire, to have fun, to enjoy your life. Its not always about making a 50% return - you have to be happy that you secured your dream home at a great price, and will get years of enjoyment out of it!

In Sarasota, a brisk and consistent tourist trade also pretty much ensures that you will be able to rent out the home, providing income until you are ready to use it - and THAT'S a smart move.

Pay List Price - Get a Deal!

Home buyers have been more than a little blind-sided lately.

They find a great home. Deliberate for a time, and decide to purchase the property. Even though the home was exactly what they were looking for - and they were advised the home was priced WELL under market value, they decide to lowball the offer.

After all, who pays list price in THIS market?

They submit the offer, dreaming of the grateful seller's response.

Only to be told there were three other offers, and theirs was rejected. What happened to the desperate bank or seller - and where did all these buyers come from?

The general media has done a marvelous job at making everyone believe that nothing is selling. While the market certainly has issues, one fact remains - a good home, priced well, SELLS. And even in this market, it sells quickly.

A buyers agent provides a wealth of information. People love to hear that a home is overpriced, and we have the numbers to support making a low offer. But when we inform clients that the home is actually UNDER priced, it is met with skepticism. Is that possible in this market?

Yes, it is. I have seen properties listed in the morning, and under contract a few hours later. Yes, even in this market. There are alot of folks looking for a bargain - and when it surfaces, they are ready to move.

I cannot stress it enough - Learn the reality of the market value and dont be afraid to offer full list - if the comps on a property are $300K, and the list price is $200K, a $150K offer won't cut it. Someone else is more than willing to offer $200K, "scoop" everyone else, and take the instant equity. Happily. A home priced at 2/3 of the market value is worth every penny of the list price.

Yes, many homes are languishing on the market. But the GREAT Deals? They go fast. Don't let the hype fool you out of your perfect home. Work with a buyers agency experienced in researching, finding, and scoring our customers the great deals. Even if it means paying full list price. And loving every minute of it.

Senate Housing Stimulus Package

The housing market in Sarasota is brisk. Low interest rates, ample inventories and low prices have combined to result in a classic buyers market.

Buyers of real estate will see an even greater reason to purchase this year, with Senate legislators unanimously approving a proposal Wednesday that would allow a tax credit for home buyers of 10 percent of the value of new or existing residences, up to a $15,000 limit. Current law provides for a $7,500 tax break but only for first-time homebuyers.

Getting a $15,000 tax credit as a homebuyer makes an huge impact in peoples lives and pocketbooks, and makes this an even better time to get your piece of Sarasota real estate.

Sarasota Real Estate - Above and Beyond for you

If you need brain surgery, you wouldn't call a family practice doctor to perform the procedure.

They both graduated from medical school, but the key to their relevance in your situation lies in their schooling and individual experience.

Real estate is no different. Every Florida real estate agent has a license - the key to our application in your search has to do with the advanced training we have received.

At True Real Estate, we have gone on to achieve numerous advanced designations. In fact, William True, Broker, holds more professional certifications and designations than any other realtor in the state of Florida. These designations fall into several key categories:

Buyer Agency Management - Accredited Buyer Representive (ABR) , Accredited Buyer Representative Manager (ABRM), Graduate Realtor Institute (GRI), Certified Real Estate Brokerage Manager (CRB), Certified Residential Specialist (CRS)

International Buyers: Certified International Property Specialist (CIPS), Transnational Referral Certification (TRC), At Home with Diversity (AHWD)

Niche Buyers - Senior Real Estate Specialist (SRES), Resort & Second Home Property Specialist (RSPS)

Securing a Good Deal on an REO (Bank Owned Property)

The news this morning reported that the iminent release of REO's will flood an already saturated market with more inventory.

It seems banks are not really all that interested in holding property, which it took them a while to figure out. I guess they didnt expect people to want a DEAL on an REO, not to pay market value. They also arent really all that keen on forgiving principal balances to keep people in their homes, despite some folks best efforts to gain homeowner assistance.

So we will likely see more bank owned properties, and in accordance with the law of supply and demand, they should be well priced. This is it folks - an unprecendented time in history to pick up your Sarasota vacation, beach, retirement home for a song.

Dealing with banks is different than traditional sellers of Sarasota real estate. If you are going to pursue a bank REO, here are some tips:

1) Cash is king and will put your offer on the top of the pile, ahead of other similar offers
2) If you will finance, have your financing in line and documented by your lender at the time of offer
3) The bank will not generally maintain the home nor fix deficiencies. Do not put clauses in your offer that will require them to do either - instead write an offer "as is" with right to inspect. If the inspection reveals a major issue, you can back out
4) Be ready to close quickly. The bank is motivated by serious and ready buyers
5) Hire a lawyer to review the documents. Banks utilize their own contracts and addendums that may not be familiar to your real estate agent. The bank will have a host of lawyers representing them - it is well worth a few hundred dollars to be protected.

REOs can present an excellent opportunity to buy into a neighborhood you might not otherwise be able to afford. But keep in mind you are not dealing with a personal seller; instead we are negotiating with a corporate entity. Aligning your expectations to that reality will make the process more palatable and rewarding.

Determining What to Offer

In this market, no one is willing to offer list price - not that they should be expected to. The sellers know this, and almost always have some padding in their list price to allow for the inevitable "lowball" which will take place in an offer situation.

If you are an investor and have no emotional connection to the property you wish to purchase, perhaps throwing lowball offers at the wall to see what sticks is a valid strategy. A friend of mine once told me that if he gets 1 offer out of 10 accepted, he is doing well.

But most of us in this market are looking for a place to call home. The property we choose, we searched for diligently. We walked in the front door and knew "this is it". We went home mentally firguring out where the furniture would go.

To those folks, making an offer that accomplishes not only getting a good price, but actually GETTING the home, is of paramount importance. How do we go about structuring an offer that is a good deal for us, but still gets us the home we want?

List price can be very deceiving. There are as many strategies for setting list price as there are people selling their home. List price is a guide, a parameter. But there are other factors to look at:

1) Recent comparable sales - Not only do we not want to pay more than the market says the home is worth, but if you are getting financing, the home must appraise at the sales price. The bank determines value by looking at similar homes, within proximity, and what they sold for. We must do the same in determining the properties market value today - not 6 months ago, or a year ago, but today.

2) Assessed value - to a lesser extent, we look at assessed value. This number is generated by the tax authority, and is the number on which property taxes are based. Assessed value is almost always less than market value...so if we see a home selling for less than assessed value, it is probably a steal.

3) What did the seller pay for them home? Do they have equity? How much of a mortgage do they have to cover? - All of these questions speak to not only the Sellers desire to sell the home, but their ability to do so at a lower price. Many people are willing to deal, but are going to have to cover their mortgage, and have a little left over for their next place. Folks with lots of equity are prime candidates for being able to negotiate.

4) Is the home a rental, second home, or already vacated? Vacant properties are often easier to get down on price than an owner occupied home - the owner has generally already moved on and ready to be done with the property.

The more information we have on the property, the situation and the seller, the better we can ascertain what a likely sales price will be - and it is sometimes very different than the list price.

And although people often believe that means ammunition to offer lower than list - it can work in reverse as well. Those numbers often tell us that the property is very undervalued - and we should move - quickly! Those dont last long.

When the Hype becomes Reality

Recently I posted an article on our website -according to the MSN study, the Sarasota-Bradenton area was one of the few places in the country that it now made more sense to BUY real estate vs. RENTING.

Hey! I was only the messenger! But I did get some flack for promoting the "hype" - trying to get people to buy homes was my only motivation, according to the critics.

Well, this week a friend of mine closed on his home. At the closing table, he made a remark that perked up my ears - "The monthly principal and interest on my loan is $150 less than the rent I have been paying!"

What's that? His new, spacious 3 BR home on a lake was going to cost him less per month than his 2 bedroom apartment...and he would be building equity in a long term investment. That is not to say every Sarasota real estate purchase would garner that result - you have to be smart.

But sometimes, hype is not hype at all - simply a voice in the wilderness, going against the grain perhaps, but speaking the truth nonetheless.

I didn't say it - They Did!

"Unlike the traditional agent who looks out for the seller, a buyer broker acts as your advocate, helping you find the home you want, then negotiating the lowest possible price." -Money Magazine

"We urge consumers who are purchasing a home to first consider an exclusive buyer broker relationship." - Consumer Federation of America

"An exclusive buyer broker - aims for the best deal for the home buyer." -Business Week

"Groups such as the Consumer Federation and the American Association of Retired Persons recommend using buyer's agents...the reason is they work." -Smart Money

"Unless the agent is an exclusive buyer's agent...there is a potential conflict of interest." - Chicago Sun Times

"How can one agent represent the best interest of two opposing sides? -Senior Life Style

"Exclusive buyer agents make every effort to get the lowest possible price for their buyers." -The San Francisco Examiner

"You can't represent the best interest of the buyer or the seller if you are wearing two hats." -The Idaho Statesman

"Exclusive buyer representatives act exclusively on behalf of a buyer...their loyalty to the buyer is never in question." - Fairfield County Examiner

"Buyer's agents focus all their attention on helping buyers find the right house at the best price." - Country Living

"Exclusive buyer's brokers represent you...part of their mandate is to negotiate the best price for you." - The Patriot Ledger (Mass)

"Exclusive Buyer's Agents work only for consumers and often can save them money." - Los Angeles Times

"To protect themselves, buyers can retain their own exclusive representative." - Business Week

"Only by using an exclusive buyer agent can a buyer be sure all information is kept confidential." - Mobility Magazine

"The best buyer brokers are so-called exclusive agents...they represent only buyers, never sellers." -Chicago Tribune

"You can't have partial loyalty; an agent either works for your or works for someone else." - Consumer Reports

Not only investors buying

The media has managed to convince everyone that the real estate market is at a standstill. Now, obviously we cannot say that the market is healthy - however, as a foot soldier in the Sarasota real estate market I can say this - alot more people are buying than you may think.

Many of my recent offers have run up against multiple offers - with so many homes on the market this clearly points to the fact that the good homes, the good values, are still generating interest.

A recent buyer quipped that no one else was in the market because "no one can get a mortgage". Another stated that he was probably "the sole buyer in the market." Both statements couldnt be further from the truth - there are many buyers taking advantage of the deals this market can offer.

The obvious problem with thinking that "no one else is buying" is getting nonchalant about making an offer on a home you love, thinking it will be there in a few months. We've seen several heartbroken prospective buyers as they watched their dream house (or plot of land) purchased by someone else.

The principle holds even in this market -if you are truly in the market to buy, and you find the perfect place for you, its best to try to buy it. We can negotiate, we can deal, and we will make sure you never overpay - but we can't guarantee someone else won't steal it from you if you wait too long.