How many real estate agents does it take to screw in a lightbulb?
Ok, I have not heard that joke yet, but I'm sure it is coming. The fact is, by "news magazine" standards, real estate agents are the new lawyers - deceptive, often incompetent, only out for a buck and largely unnecessary.
First let, me applaud the latest 20/20 episode for presenting some real estate topics beautifully - the benefits of home ownership versus renting, and tips for selling your home in a down market.
But the balance of the episode, in large part, dealt with why Realtors are , in some cases, nearly obsolete...in others, are pushing their clients to take deals they themselves wouldn't take. A panel of "experts" rattled off how Realtors have to have a lapse in conscience in order to survive; and my favorite, the authors (promoting their own book, by the way) who stated that using a Realtor assures you of getting a lower offer on your home.
Their example was a statistic that said that Realtors sell their homes for 3-4% higher than the general public, a fact which MUST mean they they counsel their clients to take low offers just to get a commission check. I have a different theory. When our clients have a solid offer in front of them, I cannot in good conscience counsel them to wait it out for a better offer. If they roll the dice that another offer will be higher, and if that offer never comes in, they are stuck. However, as a Realtor, I may be willing to assume that risk personally. I have always counseled my clients to work the numbers to a point that they have a bottom line fixed in their minds before the offer comes in - then the decision is mathematical and practical, not emotional.
There is no doubt that the Internet, and wide access to the MLS, has changed our industry. I have no problem with that. The brokerages that survive will be the ones that adapat and offer programs to their clients that work with the new capabilites, and don't try to resist them.
One final kudo to the show - in an effort to explain why Realtors don't care what the house sells for, they inadvertently pointed out that the average agent makes not 6%, but 1.5% after everyone gets paid. So instead of $24,000 paid on a $400,000 home, its more like $6,000, often for months and months of work. A drastic difference and one that is rarely discussed when it comes time to say Realtors make too much.
Regina Brassil, REALTOR, Buyer Agent
All opinions posted are solely those of the author.
Saturday, June 23, 2007
Monday, June 04, 2007
When Considering a Home, Do All the Math
As a buyer's agent in Sarasota, I talk to alot of prospective home owners. Given the state of the market over the last 24 months, I can understand why many of them have chosen to adopt a "wait and see" attitude.
But there are several factors involved in the true cost of a home. One is, of course, the list price. This is the magic number that everyone seems to watch.
At this point in the market, however, the more important number may be INTEREST RATES. Most data seems to indicate home prices are near the bottom, and may begin to slowly creep up. But even if they drop slightly lower, if the interest rates are rising, you will pay more, long term, for your home.
Fact is , that over 30 years, the interest is the more compelling number. And getting the home for $10,000 cheaper is actually far less of a concern than getting a home at a good interest rate.
Last week, interest rates rose on data that home sales were picking up. These are both good indicators that the market may be ready to turn around. Don't let the interest rates quietly climb while waiting for another price drop which experts say isn't coming - it could prove costly over the years.
Regina A. Brassil, REALTOR
This article is the sole opinion of the author.
But there are several factors involved in the true cost of a home. One is, of course, the list price. This is the magic number that everyone seems to watch.
At this point in the market, however, the more important number may be INTEREST RATES. Most data seems to indicate home prices are near the bottom, and may begin to slowly creep up. But even if they drop slightly lower, if the interest rates are rising, you will pay more, long term, for your home.
Fact is , that over 30 years, the interest is the more compelling number. And getting the home for $10,000 cheaper is actually far less of a concern than getting a home at a good interest rate.
Last week, interest rates rose on data that home sales were picking up. These are both good indicators that the market may be ready to turn around. Don't let the interest rates quietly climb while waiting for another price drop which experts say isn't coming - it could prove costly over the years.
Regina A. Brassil, REALTOR
This article is the sole opinion of the author.
Tuesday, May 29, 2007
Beach Retirement a Reality for 40 Year Olds
One of the frustrating aspects of being a real estate agent is seeing all these great properties and wishing I could buy them. I have bought a couple...but of course, I can't buy up all the great deals. My current obsession is a terrific loft on Longboat Key - gulf views, beach front for an unbelievable price.
A story came out yesterday about how the investor market has dried up, yet the vacation home market is going strong. The reason for it, in my mind, is simple. People my age, years away from retirement, recognize this market for what it is, and realize we may never see beachfront property at this price again. If I retire in 20 years, and my loft has tripled in price, could I afford it?
There are many negative aspects to this market. But the overriding positive has been, and remains, that for someone with a dream of beach living, the market has not been more auspicious in years.
A story came out yesterday about how the investor market has dried up, yet the vacation home market is going strong. The reason for it, in my mind, is simple. People my age, years away from retirement, recognize this market for what it is, and realize we may never see beachfront property at this price again. If I retire in 20 years, and my loft has tripled in price, could I afford it?
There are many negative aspects to this market. But the overriding positive has been, and remains, that for someone with a dream of beach living, the market has not been more auspicious in years.
Monday, May 07, 2007
Naysayer Math Just Doesn't Add Up
I read an article this morning that said in one breath that 1) prospective first time home buyers should continue to rent and 2) put their money into stocks, not real estate.
While I respect the opinion, the math just does not work, except perhaps in the wealthier enclaves of the country. Most first time home buyers I deal with are working with a strict budget - they have a small amount to put down, and plan on spending , say $1250 per month for their mortgage and taxes.
If they continue to rent, that same monthly budget goes to their landlord. It is not "extra" money. They cant rent for $1250 a month and put money into stocks.
If the monthly budget is either going to rent, or into the equity of a home, the choice is clear.
While I respect the opinion, the math just does not work, except perhaps in the wealthier enclaves of the country. Most first time home buyers I deal with are working with a strict budget - they have a small amount to put down, and plan on spending , say $1250 per month for their mortgage and taxes.
If they continue to rent, that same monthly budget goes to their landlord. It is not "extra" money. They cant rent for $1250 a month and put money into stocks.
If the monthly budget is either going to rent, or into the equity of a home, the choice is clear.
Sunday, April 29, 2007
Buyers Welcome
In a recent Realtor newsletter, the author of a story offered his criteria as to who was a "worthy buyer". His argument, essentially, was that the only real way to make money long term was with sellers..."list to live" as many have said. Buyers, he argued, can take alot of your time and should be carefully screened.
While I agree that it is important to ascertain whether or not someone is willing and able to buy a home, certainly they are not always completely ready when I first encounter them. Perhaps they need more information on the area , or need to feel comfortable about the schools. But if I followed the unspoken rules, I never would have sold homes to some of my most loyal customers.
* The couple from NJ who viewed 75 homes before buying the perfect one - with a phone call.
* The couple from Tennessee who called five realtors in town and were told "Call me when you get here". We worked with them to narrow down the search before they got here. When they did, they bought a house in two days.
* The young couple who were buying their first home and just felt they were being rushed into unfamiliar territory. After a few long conversations answering every question they had, they happily bought their home.
There was an old rule - show a buyer 5 homes and then ask them which one they want. In today's market, Buyers rule and have lots of options, so likely won't rush. But in any market, at this brokerage , Buyers are welcome. Whatever stage, whatever comfort level, whatever you need. Because sometimes all you need is someone to understand YOUR personal buying style - whatever that may be.
While I agree that it is important to ascertain whether or not someone is willing and able to buy a home, certainly they are not always completely ready when I first encounter them. Perhaps they need more information on the area , or need to feel comfortable about the schools. But if I followed the unspoken rules, I never would have sold homes to some of my most loyal customers.
* The couple from NJ who viewed 75 homes before buying the perfect one - with a phone call.
* The couple from Tennessee who called five realtors in town and were told "Call me when you get here". We worked with them to narrow down the search before they got here. When they did, they bought a house in two days.
* The young couple who were buying their first home and just felt they were being rushed into unfamiliar territory. After a few long conversations answering every question they had, they happily bought their home.
There was an old rule - show a buyer 5 homes and then ask them which one they want. In today's market, Buyers rule and have lots of options, so likely won't rush. But in any market, at this brokerage , Buyers are welcome. Whatever stage, whatever comfort level, whatever you need. Because sometimes all you need is someone to understand YOUR personal buying style - whatever that may be.
Wednesday, April 25, 2007
Can you hear me now?
Did you ever feel like you knew something amazing and no one would listen to you???
You've heard the interest rates are low. You've heard the inventories are high. You've heard that buyers have more bargaining power than ever before. You've even heard this Blogger telling you that the leading edge people were already here, buying up everything they could get their hands on in this market. And the good news just keeps on coming.
Last week Sarasota was named by Money Magazine as one of the best places to retire. Inc. Magazine has now named Sarasota as one of the best places for entreprenuers to set up shop.
Not convinced yet?
In March, the Sarasota-Bradenton real estate market seemingly shook off the gloom and doom as sales rose 19%. Naysayers will say its a fluke. That it won't last. But maybe they don't know what I know.
Sarasota is beautiful. It's lifestyle is amazing. People are buying here even when they aren't anywhere else, mainly because at these prices, paradise is on sale. When people get here, living anyplace else seems unthinkable. We win award after award. Come on down and see for yourself!
You've heard the interest rates are low. You've heard the inventories are high. You've heard that buyers have more bargaining power than ever before. You've even heard this Blogger telling you that the leading edge people were already here, buying up everything they could get their hands on in this market. And the good news just keeps on coming.
Last week Sarasota was named by Money Magazine as one of the best places to retire. Inc. Magazine has now named Sarasota as one of the best places for entreprenuers to set up shop.
Not convinced yet?
In March, the Sarasota-Bradenton real estate market seemingly shook off the gloom and doom as sales rose 19%. Naysayers will say its a fluke. That it won't last. But maybe they don't know what I know.
Sarasota is beautiful. It's lifestyle is amazing. People are buying here even when they aren't anywhere else, mainly because at these prices, paradise is on sale. When people get here, living anyplace else seems unthinkable. We win award after award. Come on down and see for yourself!
Friday, April 20, 2007
Romancing Real Estate
I read an interesting article today that compared the decision to hold off on buying real estate to fear of commitment in relationships.
"This one is perfect - but what if I see something even better tomorrow?"
"My situation is not exactly what I want, but it is comfortable and at least I know what I have"
"It's a huge commitment, and so permanent - I am not sure if I am ready".
Any of those statements could, in reality, be applied to real estate, or real life. The reason being, either decision is highly emotional and carries long term ramifications. In actuality, they can be applied to any big decision, which can sometimes seem paralyzing. In the face of a significant change, human beings often opt for the safety of what we know. Its human nature.
The real estate process, however, should be looked at far more practically. If you are currently paying $1200 in rent, that money may be better served paying a mortgage instead - in effect, you are adding to your investment every time you make a payment. At the end of ten years, you either have paid ten years of rent, and you move out with only your personal possessions - or you have solid equity in your future. Although it is tough for sellers right now, the longer term investor will almost always be safe with a real estate purchase. The key is to not NEED to sell, but to be able to wait until it is favorable to sell. Which is exactly the situation of a person looking to buy a home in order to live here.
History has proven that in a slow market, buyers are waiting for someone else to buy first. In essence , it provides validation that it is "safe" to buy. Traditionally, it is the leading edge investors - the first ones back into the market - that get the deals. By the time the market is back in an upswing, many buyers realize they are now coping with rising prices, not falling ones.
Right now, "all of the good ones" are not taken. So get out there - you may be suprised at what you find.
"This one is perfect - but what if I see something even better tomorrow?"
"My situation is not exactly what I want, but it is comfortable and at least I know what I have"
"It's a huge commitment, and so permanent - I am not sure if I am ready".
Any of those statements could, in reality, be applied to real estate, or real life. The reason being, either decision is highly emotional and carries long term ramifications. In actuality, they can be applied to any big decision, which can sometimes seem paralyzing. In the face of a significant change, human beings often opt for the safety of what we know. Its human nature.
The real estate process, however, should be looked at far more practically. If you are currently paying $1200 in rent, that money may be better served paying a mortgage instead - in effect, you are adding to your investment every time you make a payment. At the end of ten years, you either have paid ten years of rent, and you move out with only your personal possessions - or you have solid equity in your future. Although it is tough for sellers right now, the longer term investor will almost always be safe with a real estate purchase. The key is to not NEED to sell, but to be able to wait until it is favorable to sell. Which is exactly the situation of a person looking to buy a home in order to live here.
History has proven that in a slow market, buyers are waiting for someone else to buy first. In essence , it provides validation that it is "safe" to buy. Traditionally, it is the leading edge investors - the first ones back into the market - that get the deals. By the time the market is back in an upswing, many buyers realize they are now coping with rising prices, not falling ones.
Right now, "all of the good ones" are not taken. So get out there - you may be suprised at what you find.
Saturday, April 07, 2007
Pretend You're A Tourist
One of the strangest phenomena, it seems to me, is that people who live in a certain town rarely take advantage of the towns many attractions. Oh, we know where they are, we can tell visiting friends and family about them, we might even have snuck into one or two. But overwhelmingly, I meet people who confess to rarely getting to the beach...or have never seen a show at the Van Wezel. After recently extolling the virtues of Towles Court to an artistically inclined client, they asked "have you been there?"
Wow. I knew so much about the place, the schedule of their art walks, even some of the artists. But had I been there? It was almost a startling realization that I had not! With resolve I decided to go to the Friday night art walk that very week - by coincidence, a friend was exhibiting at the Sonnet Gallery. On Friday, I surprised the kids with our plans (no need to hear whining until absolutely necessary ) and we were off.
As a lifelong art lover, I expected to be charmed. Wowed. Intrigued. And to totally fall in love with the open galleries, live music and softly lit walkways. I was not disappointed. What I didn't expect was the reaction of my children. My 7 year old son who couldn't get enough of talking about the "cool colors" of glass sculptures and asking me if we could try pastel painting. My 13 year old who was so intrigued with a photography gallery, that she asked to take a photography class and has begun filling her walls with her own shots. They made me visit every gallery, didn't miss a one. And as we strolled with our drinks (white wine for me, apple juice for them) and discussed art, I realized I was exposing them to a whole new world. And it had been in my own back yard all the time.
One of the best things about being in real estate is the exposure I have to all the neighborhoods, all the properties, and the varied personalities Sarasota offers. I was glad to be reminded what a fantastic, vibrant town this is - for those of you moving here, I would love to point out some of my favorite spots. But once you get here, don't forget to be a tourist in your own town - Sarasota is a great place to explore - no matter how long you've lived here. - Regina Brassil, REALTOR
Wow. I knew so much about the place, the schedule of their art walks, even some of the artists. But had I been there? It was almost a startling realization that I had not! With resolve I decided to go to the Friday night art walk that very week - by coincidence, a friend was exhibiting at the Sonnet Gallery. On Friday, I surprised the kids with our plans (no need to hear whining until absolutely necessary ) and we were off.
As a lifelong art lover, I expected to be charmed. Wowed. Intrigued. And to totally fall in love with the open galleries, live music and softly lit walkways. I was not disappointed. What I didn't expect was the reaction of my children. My 7 year old son who couldn't get enough of talking about the "cool colors" of glass sculptures and asking me if we could try pastel painting. My 13 year old who was so intrigued with a photography gallery, that she asked to take a photography class and has begun filling her walls with her own shots. They made me visit every gallery, didn't miss a one. And as we strolled with our drinks (white wine for me, apple juice for them) and discussed art, I realized I was exposing them to a whole new world. And it had been in my own back yard all the time.
One of the best things about being in real estate is the exposure I have to all the neighborhoods, all the properties, and the varied personalities Sarasota offers. I was glad to be reminded what a fantastic, vibrant town this is - for those of you moving here, I would love to point out some of my favorite spots. But once you get here, don't forget to be a tourist in your own town - Sarasota is a great place to explore - no matter how long you've lived here. - Regina Brassil, REALTOR
Monday, April 02, 2007
Should you invest in a Sarasota Condo?
I only had the previous post up for a few minutes when I received a call to clarify a point on condos - do the rules of investing hold true in the current condo market in Sarasota?
I will keep this short and to the point. If you are looking to purchase a condo as your primary residence, or for any personal use, it is actually a terrific time to buy. With such a glut of condos on the market, some still in pre-construction, you can scoop up a condo with great amenities for a really fantastic price.
If you are looking at condos as investments to re-sell within a few years, keep in mind that it is estimated that we may have as much as a 5 year inventory of condos in Sarasota County right now. Essentially, that means that for as many years, we will likely be experiencing a tough situation for sellers of condos. I would only consider a condo for a resale strategy if I were thinking very long term, at LEAST 5 years out. If investing is of interest to you, please read the post below as well. I hope you find it informative and helpful.
Regina Brassil, REALTOR
I will keep this short and to the point. If you are looking to purchase a condo as your primary residence, or for any personal use, it is actually a terrific time to buy. With such a glut of condos on the market, some still in pre-construction, you can scoop up a condo with great amenities for a really fantastic price.
If you are looking at condos as investments to re-sell within a few years, keep in mind that it is estimated that we may have as much as a 5 year inventory of condos in Sarasota County right now. Essentially, that means that for as many years, we will likely be experiencing a tough situation for sellers of condos. I would only consider a condo for a resale strategy if I were thinking very long term, at LEAST 5 years out. If investing is of interest to you, please read the post below as well. I hope you find it informative and helpful.
Regina Brassil, REALTOR
Real Estate Investing in Sarasota
Much has been made of the plight of the real estate investor in the last 12 months. Foreclosures, abandoned deposits, and unwanted multiple mortgages on properties they couldn't sell are scary facts. As with any investment, whether it be real estate or stocks, it is the short term thinker that often gets burned. When the risk pays off, its big money, and that was the allure of too many people investing over their heads. The risk, unfortunately, didn't pay off.
However, history is quite clear that real estate as a long term investment is reliable and profitable. As someone who has invested in real estate most of my adult life, I can vouch for the fact that over the long haul, real estate has been very good to me. And I encourage others to invest in real estate if possible. But do so with a level head and some basic rules -
1. Have long term view. If conditions are favorable in the short term and you want to sell, terrific! But if your plan is to hold the property for a set period of time, market fluctuations are not nearly as intimidating.
2. Fix your mortgage. Yes, the rates can be a bit higher, but there is comfort and safety in a set, known payment - especially in uncertain times. If your plan is to rent the property out, know the going rental rates and make sure you can afford the payment if the property does not rent out immediately.
3. Buy when no one else wants to. Right now, many people are afraid to invest, but leading edge investors are buying, and buying aggressively. An investor friend of mine says his only frustration is that he wishes he could buy up more. Prices are low, the boomers are coming over the next several years and many neighborhoods in Sarasota are enjoying a renaissance. Deals are out there for the asking.
4. Find a neighborhood with promise. In Sarasota, waterfront acreage is all but gone. But there are several communities that are undiscovered gems, still unbelievably priced for their proximity to the water. Sure, the homes are older but the neighborhoods are changing; renovation and rebuilding is occurring as we speak. And if you think I am talking in terms of "Sarasota affordability" think again - I know of a few homes under $250,000 in waterfront neighborhoods. Locations within walking distance to downtown, but in quiet neighborhoods, also have fantastic upside.
5. Be realistic. The days of "flipping" on the same day of closing and making $50,000 are gone now. But Sarasota is growing, boomers are retiring, and we live in a beautiful town. The market is returning to normal. Just don't expect double digit returns within weeks and you will be fine.
If real estate investment is of interest to you, give us a call. Don't wait until the market starts to rise again - as an investor, the time is now.
Regina Brassil, REALTOR
However, history is quite clear that real estate as a long term investment is reliable and profitable. As someone who has invested in real estate most of my adult life, I can vouch for the fact that over the long haul, real estate has been very good to me. And I encourage others to invest in real estate if possible. But do so with a level head and some basic rules -
1. Have long term view. If conditions are favorable in the short term and you want to sell, terrific! But if your plan is to hold the property for a set period of time, market fluctuations are not nearly as intimidating.
2. Fix your mortgage. Yes, the rates can be a bit higher, but there is comfort and safety in a set, known payment - especially in uncertain times. If your plan is to rent the property out, know the going rental rates and make sure you can afford the payment if the property does not rent out immediately.
3. Buy when no one else wants to. Right now, many people are afraid to invest, but leading edge investors are buying, and buying aggressively. An investor friend of mine says his only frustration is that he wishes he could buy up more. Prices are low, the boomers are coming over the next several years and many neighborhoods in Sarasota are enjoying a renaissance. Deals are out there for the asking.
4. Find a neighborhood with promise. In Sarasota, waterfront acreage is all but gone. But there are several communities that are undiscovered gems, still unbelievably priced for their proximity to the water. Sure, the homes are older but the neighborhoods are changing; renovation and rebuilding is occurring as we speak. And if you think I am talking in terms of "Sarasota affordability" think again - I know of a few homes under $250,000 in waterfront neighborhoods. Locations within walking distance to downtown, but in quiet neighborhoods, also have fantastic upside.
5. Be realistic. The days of "flipping" on the same day of closing and making $50,000 are gone now. But Sarasota is growing, boomers are retiring, and we live in a beautiful town. The market is returning to normal. Just don't expect double digit returns within weeks and you will be fine.
If real estate investment is of interest to you, give us a call. Don't wait until the market starts to rise again - as an investor, the time is now.
Regina Brassil, REALTOR
Friday, March 23, 2007
Can You Feel the Love?
My broker always tells me that the reason our websites have such loyal followers is "the love" . It's that quality that personal, first hand knowledge and writing brings that a "professional content writer" could never understand. Its a passion for the Sarasota area, an in depth knowledge of neighborhoods our friends and family live in, and a true love for this lifestyle. In our websites, we try to convey information in a familiar way. We take our own photos of places we go to ourselves; we write about issues important to this area, we try to provide the best tools and we always listen to your feedback as to what we include. Far from a one-time project, our 5 sites are worked on EVERY DAY by a full time realtor - we may not have the flashiest website, or the most technical - but we have the love.
I like to think the REALTORS in our organization do our jobs the same way. I received a testimonial letter this morning from a couple who recently closed on their home. Such glowing words, from a couple who had been fantastic to work with. In the back of my mind, I heard my broker "It's the love". But it really is - its the desire to show off our town, to make sure our clients not only buy a house, but buy the RIGHT house. It's making sure they understand where they are moving. It is doing reconnaissance work before they get here and handling the deal from start to finish so they can relax.
Bill has clients that have bought upwards of 10 places from him, and wouldn't dream of going elsewhere. I don't have as long a career, but aspire to the same. We have heard over and over that we get so excited when showing someone a great neighborhood, or pointing out a gorgeous secluded beach, and we do. I just can't hide the excitement and awe I feel about where I live.
Anyone can unlock a front door and point out a granite countertop. Not everyone has the love.
Regina Brassil, Realtor.
I like to think the REALTORS in our organization do our jobs the same way. I received a testimonial letter this morning from a couple who recently closed on their home. Such glowing words, from a couple who had been fantastic to work with. In the back of my mind, I heard my broker "It's the love". But it really is - its the desire to show off our town, to make sure our clients not only buy a house, but buy the RIGHT house. It's making sure they understand where they are moving. It is doing reconnaissance work before they get here and handling the deal from start to finish so they can relax.
Bill has clients that have bought upwards of 10 places from him, and wouldn't dream of going elsewhere. I don't have as long a career, but aspire to the same. We have heard over and over that we get so excited when showing someone a great neighborhood, or pointing out a gorgeous secluded beach, and we do. I just can't hide the excitement and awe I feel about where I live.
Anyone can unlock a front door and point out a granite countertop. Not everyone has the love.
Regina Brassil, Realtor.
Friday, March 16, 2007
Perfect Home Not Always What You Expect
When moving to a new area, there is much research to be done. Not insignificant to the relocating party is the real estate market - what is available, at what price.
The MLS search engines are fantastic tools for everyone to have access to the current listings on the market. But it is important to remember that often, when we have limited knoweldge of an area, it is nearly impossible to determine which will be the right home for you, no matter how many photos are provided. Not knowing where a home is geographically located creates a huge blind spot in your search.
When you come to an area, ask your Realtor to spend some time simply driving you around town. Ahead of time, they can research where the homes in your price range are, then can drive you through those neighborhoods. Because lets face it, the most beautiful home won't be the right home if it is too far from the beach, or the school, or your job.
When I put on my "Tour Guide" hat (which I enjoy immensely, by the way) I am always interested to see where a client decides they like. Folks who thought that they wanted acreage, fall in love with downtown; people who thought they wanted to live in Sarasota find the tranquility and peace of Venice to be more their style. It is important to understand neighborhoods in their proximity to what is important to you...and to get a "feel" for the neighborhood you may soon call home.
It is only once you understand the area, and your Realtor gets a feel for the neighborhood ambience that works for you, that seeing the inside of a house will be valuable. Take the time to understand your surroundings, and your perfect home, no matter how unexpected, will likely jump right out at you.
The MLS search engines are fantastic tools for everyone to have access to the current listings on the market. But it is important to remember that often, when we have limited knoweldge of an area, it is nearly impossible to determine which will be the right home for you, no matter how many photos are provided. Not knowing where a home is geographically located creates a huge blind spot in your search.
When you come to an area, ask your Realtor to spend some time simply driving you around town. Ahead of time, they can research where the homes in your price range are, then can drive you through those neighborhoods. Because lets face it, the most beautiful home won't be the right home if it is too far from the beach, or the school, or your job.
When I put on my "Tour Guide" hat (which I enjoy immensely, by the way) I am always interested to see where a client decides they like. Folks who thought that they wanted acreage, fall in love with downtown; people who thought they wanted to live in Sarasota find the tranquility and peace of Venice to be more their style. It is important to understand neighborhoods in their proximity to what is important to you...and to get a "feel" for the neighborhood you may soon call home.
It is only once you understand the area, and your Realtor gets a feel for the neighborhood ambience that works for you, that seeing the inside of a house will be valuable. Take the time to understand your surroundings, and your perfect home, no matter how unexpected, will likely jump right out at you.
Sunday, March 11, 2007
Nothing to Gain By Waiting ? UF Study says Buy...
For a few months now, we have been advising people that the conditions are right to buy your home in Sarasota. Low interest rates, high levels of inventory and the lowest prices in years seemed to be the perfect mix of ingredients to make this a hot buyers market.
But sometimes, you get the feeling that as a REALTOR, people think it may be hype, designed to generate sales for yourself. That is why it is with great relief that I report the following:
A 5-quarter study by the University of Florida in Gainesville was released this week stating that "if you are thinking of buying a home, there is not much to be gained by waiting any longer" . The study found that home price movement is maintaining the same pace as inflation, which is a benchmark for the study. "It indicates the market is stabilizing".
The stabilization of the market came earlier than expected, and is not expected to hit all areas of the state equally, but the South Florida market is included. I have long maintained that purely from my own observances, the buyers were venturing back. Hopefully, the UF Study will convince folks that it really is a fantastic time to buy into Sarasota County - lets face it, those Gators have got a pretty good streak going!
Buyers market, Buyers Agents, Buyers Rebate - its all about the Buyer at True Real Estate. Call us today.
But sometimes, you get the feeling that as a REALTOR, people think it may be hype, designed to generate sales for yourself. That is why it is with great relief that I report the following:
A 5-quarter study by the University of Florida in Gainesville was released this week stating that "if you are thinking of buying a home, there is not much to be gained by waiting any longer" . The study found that home price movement is maintaining the same pace as inflation, which is a benchmark for the study. "It indicates the market is stabilizing".
The stabilization of the market came earlier than expected, and is not expected to hit all areas of the state equally, but the South Florida market is included. I have long maintained that purely from my own observances, the buyers were venturing back. Hopefully, the UF Study will convince folks that it really is a fantastic time to buy into Sarasota County - lets face it, those Gators have got a pretty good streak going!
Buyers market, Buyers Agents, Buyers Rebate - its all about the Buyer at True Real Estate. Call us today.
Saturday, March 03, 2007
A Good Story in Sarasota
Sometimes, anecdotal evidence is all you need.
Word of mouth is a powerful tool - everyone who has ever marketed a product knows this. What people are saying - about you or about your product - directly impacts your sales.
And so it goes in the Sarasota real estate market. Everyone is aware of the gloom and doom of the past year - but the story is changing.
"She sold her house in 2 days!"
"There were 13 buyers at the open house"
"We ran an ad and the phone hasn't stopped ringing"
These are all statements I have heard from fellow realtors in the last 48 hours. This might not jive with the national news stories, but the fact of the matter is, the Buyers are back. Not in huge numbers, not yet - but the word is spreading about great prices, low interest rates and affordable first homes. Those pesky hurricanes stayed away last year, weather is horrible up North. Buoyed by stories from elated buyers, more people are venturing back into the Sarasota market every day.
We maintain 5 regional websites. Our main Sarasota site has seen a spike in hits over the last two weeks, and my broker reports a huge increase in calls into the firm. Many are still asking for information, or for clarification on the rebate. But they are calling.
Need numbers? Currently it can cost up to $1300 to rent a 2-3 BR in Sarasota.
The stock market fall last week caused interest rates to drop as well - to below 6% for a 30 year fixed mortgage. Isn't it time to start putting that money into your own home?
The story, for those listening, is a very good one.
Regina Brassil, REALTOR
Word of mouth is a powerful tool - everyone who has ever marketed a product knows this. What people are saying - about you or about your product - directly impacts your sales.
And so it goes in the Sarasota real estate market. Everyone is aware of the gloom and doom of the past year - but the story is changing.
"She sold her house in 2 days!"
"There were 13 buyers at the open house"
"We ran an ad and the phone hasn't stopped ringing"
These are all statements I have heard from fellow realtors in the last 48 hours. This might not jive with the national news stories, but the fact of the matter is, the Buyers are back. Not in huge numbers, not yet - but the word is spreading about great prices, low interest rates and affordable first homes. Those pesky hurricanes stayed away last year, weather is horrible up North. Buoyed by stories from elated buyers, more people are venturing back into the Sarasota market every day.
We maintain 5 regional websites. Our main Sarasota site has seen a spike in hits over the last two weeks, and my broker reports a huge increase in calls into the firm. Many are still asking for information, or for clarification on the rebate. But they are calling.
Need numbers? Currently it can cost up to $1300 to rent a 2-3 BR in Sarasota.
The stock market fall last week caused interest rates to drop as well - to below 6% for a 30 year fixed mortgage. Isn't it time to start putting that money into your own home?
The story, for those listening, is a very good one.
Regina Brassil, REALTOR
Friday, March 02, 2007
Defending Against the Bullies
As a kid, you learn quickly that if you do something differently than everyone else, you will likely be resented or ridiculed. As an adult, you realize that maybe some things never change.
Real estate companies that offer rebates to their customers have always been the black sheep, held in a bit of disdain. However, in a changing market, more are experimenting with the model to try to gain market share. This swing towards incentives and rebates has only served to widen the gap between those companies that HATE the concept, and those who love it. The debate is national, and heated.
I have read numerous articles over the last several months blasting companies that offer rebates as uncaring money-grabbers who offer no service in exchange for a commission,. Instead of the focus being on the benefit to the consumer, the focus is placed on the provider - they MUST be providing less service if they are willing to give a rebate.
I have to admit - there are some rebate companies that offer little to no service and virtually no experience. I suppose in that respect, the "bullies in the playground" who want us to stop offering rebates are correct in their argument.
But the argument falls apart in the face of the FULL SERVICE agency that just happens to provide a rebate. Consumers should not be cheated out of the knowledge that full service companies exist - with top notch customer service, comprehensive knowledge and deep experience.
The argument is often that "they must be bad agents, otherwise why would they work for partial commissions?" To the contrary, many full service rebate companies employ highly independent and successful agents who simply operate on lower overhead - no marble pillars at the office, no well paid call center operators. But less dedicated, less trained or less successful? Not at all.
As with ANY service industry, there are varying levels of service. It is up to the consumer to research and learn about their options. But the belief that all rebate companies provide shoddy service is as stereotypical as believing that all agents who carry a national name are excellent at what they do.
But I don't want to be a bully.
Regina Brassil, REALTOR, True Real Estate www.TrueSarasota.com
True Real Estate offer full, comprehensive service to our customers, at up to a 2.5% rebate. Want to talk to our customers to find out? Let us know.
Real estate companies that offer rebates to their customers have always been the black sheep, held in a bit of disdain. However, in a changing market, more are experimenting with the model to try to gain market share. This swing towards incentives and rebates has only served to widen the gap between those companies that HATE the concept, and those who love it. The debate is national, and heated.
I have read numerous articles over the last several months blasting companies that offer rebates as uncaring money-grabbers who offer no service in exchange for a commission,. Instead of the focus being on the benefit to the consumer, the focus is placed on the provider - they MUST be providing less service if they are willing to give a rebate.
I have to admit - there are some rebate companies that offer little to no service and virtually no experience. I suppose in that respect, the "bullies in the playground" who want us to stop offering rebates are correct in their argument.
But the argument falls apart in the face of the FULL SERVICE agency that just happens to provide a rebate. Consumers should not be cheated out of the knowledge that full service companies exist - with top notch customer service, comprehensive knowledge and deep experience.
The argument is often that "they must be bad agents, otherwise why would they work for partial commissions?" To the contrary, many full service rebate companies employ highly independent and successful agents who simply operate on lower overhead - no marble pillars at the office, no well paid call center operators. But less dedicated, less trained or less successful? Not at all.
As with ANY service industry, there are varying levels of service. It is up to the consumer to research and learn about their options. But the belief that all rebate companies provide shoddy service is as stereotypical as believing that all agents who carry a national name are excellent at what they do.
But I don't want to be a bully.
Regina Brassil, REALTOR, True Real Estate www.TrueSarasota.com
True Real Estate offer full, comprehensive service to our customers, at up to a 2.5% rebate. Want to talk to our customers to find out? Let us know.
Tuesday, October 10, 2006
Legends and Weather Patterns Explain Hurricane Behavior
Posted by Regina Brassil
There is an old legend in this region that says early Florida settlers used to come to what is now the Sarasota area during the "Big storms". They felt it was a safe haven from what we can assume were the hurricanes that visited annually.
Modern science and documentation seems to have proven their theory correct. In a recent study by the Sarasota Herald Tribune, "hot spots" were identified - those areas most likely to be hit by hurricanes. These areas included a 300 mile swath from Key West to St. Lucie County, centering in Miami; the North Carolina Coastline; and the Florida Panhandle west through to Louisiana.
In contradiction, Sarasota, Manatee and Charlotte Counties were listed as areas LEAST prone to being hit by a major hurricane. In fact, the last major hurricane to blow into Sarasota was in 1966, when Alma passed offshore.
The clustering of the storms in "hot spots" has to do with broad weather patterns and geography. One of the main factors is the summertime location of the Bermuda High, which tends to steer storms through well-travelled "alleys". The hot-spots are located at the end of these alleys. In 2004 , the high was centered closer to Bermuda than usual - resulting in Charley, Frances and Jeanne hitting southern Florida. In 2005, however, the high was centered relatively close to the Atlantic coast, creating almost a protective barrier around Florida for most of the hurricane season.
As scientists and meteorologists get more knoweldgeable about these weather patterns, everyone will ultimately be safer. Although no area can be considered completely "safe" from hurricanes, history and science seem to agree that the Sarasota area is far less prone to a major storm than other areas in Florida; lending even more credence to residents belief that we live in a golden city on the Gulf.
There is an old legend in this region that says early Florida settlers used to come to what is now the Sarasota area during the "Big storms". They felt it was a safe haven from what we can assume were the hurricanes that visited annually.
Modern science and documentation seems to have proven their theory correct. In a recent study by the Sarasota Herald Tribune, "hot spots" were identified - those areas most likely to be hit by hurricanes. These areas included a 300 mile swath from Key West to St. Lucie County, centering in Miami; the North Carolina Coastline; and the Florida Panhandle west through to Louisiana.
In contradiction, Sarasota, Manatee and Charlotte Counties were listed as areas LEAST prone to being hit by a major hurricane. In fact, the last major hurricane to blow into Sarasota was in 1966, when Alma passed offshore.
The clustering of the storms in "hot spots" has to do with broad weather patterns and geography. One of the main factors is the summertime location of the Bermuda High, which tends to steer storms through well-travelled "alleys". The hot-spots are located at the end of these alleys. In 2004 , the high was centered closer to Bermuda than usual - resulting in Charley, Frances and Jeanne hitting southern Florida. In 2005, however, the high was centered relatively close to the Atlantic coast, creating almost a protective barrier around Florida for most of the hurricane season.
As scientists and meteorologists get more knoweldgeable about these weather patterns, everyone will ultimately be safer. Although no area can be considered completely "safe" from hurricanes, history and science seem to agree that the Sarasota area is far less prone to a major storm than other areas in Florida; lending even more credence to residents belief that we live in a golden city on the Gulf.
Monday, October 09, 2006
Come on In, the Market's Fine!
posted by Regina Brassil
Enough of the so-called "bad news" - here is the GOOD NEWS about Sarasota area real estate:
Inventory in Southwest Florida is at an all time historic high. Prices, therefore, have fallen, creating a classic Buyer's Market. By definition, a market that is favorable to the buyer.
While I would never recommend "buy and flip" type investing in these conditions, there are those who should absolutely consider buying. The classic rule of investing in anything is to "buy low, sell high".
Enough of the so-called "bad news" - here is the GOOD NEWS about Sarasota area real estate:
Inventory in Southwest Florida is at an all time historic high. Prices, therefore, have fallen, creating a classic Buyer's Market. By definition, a market that is favorable to the buyer.
While I would never recommend "buy and flip" type investing in these conditions, there are those who should absolutely consider buying. The classic rule of investing in anything is to "buy low, sell high".
* If someone is looking for a primary residence in which to live for many years, conditions are favorable.
* If someone wants to buy their dream retirement home in the near future, this is a great time.
* If an investor is looking to buy and hold long term, what better time than when prices are low?
What if the market goes lower? No one , of course has a crystal ball. But for the long term investor or buyer, history would dictate that eventually, the market WILL go up. We live in SW Florida. The baby boomers are getting ready to retire. People still want to live in the paradise that is Sarasota, and will come here.
Don't forget, when considering a purchase, all the factors are important - what if the market goes lower, but interest rates go up? You may ultimately pay more. Interest rates are currently at an 8 month low.
Buyer's Markets don't last forever. Just as many Sellers are regretting not selling when the market was hot...I fear many people looking to buy a home are going to regret not buying when they could have bought low.
For those in the market to buy in the near future, now may be a perfect time.
Consult a Sarasota Real Estate Agent and claim your piece of the Gulf Coast.
Saturday, April 22, 2006
Developers and Residents CAN Work Together
Sarasota's desirability makes it a magnet for developers. However, residents who are afraid of too much building, over-crowding and ruination of green spaces often create loud and powerful lobbies against the builders plans.
It is a battle played out every day, in every part of this region. In Sarasota's historic and charming Arlington Park, residents protested that developers Rand Hillview LLC should not be allowed to build their 65 foot tall condominium complex, Residences at Hyde Park, on a site across from the Sarasota Memorial Hospital - too big, too obtrusive onto the street, they argued. The trash dumpster area would be visible from the street; and city officials further required that a stately grand oak tree, rooted in the center of the 1.5 acre property, be preserved. Developers were sent away, back to the drawing board.
When they returned to re-pitch their project , they expected the stiff opposition to prevail once again. However, what happened instead is a lesson for all developers and associations in this growing area of the state - the residents applauded and approved the plan, which will now go before the Sarasota Planning Board in June. Why the dramatic turn-around? Residents say that they felt validated that the developers listened to their concerns, went back and seriously addressed the issues, and came up with workable solutions. These solutions included slanting the walls of the complex to create less austere presence on the street and relocating the areas for trash. The complex concept was also re-drawn by the project architect in order to save the old oak tree.
City officials are impressed by the developers willingness to create a project the community approves of, while the Arlington Park association was open minded in considering the re-design. We can only hope as Sarasota and the surrounding areas continue to grow and develop, that more such harmonious relationships can be struck, for the benefit of us all.
It is a battle played out every day, in every part of this region. In Sarasota's historic and charming Arlington Park, residents protested that developers Rand Hillview LLC should not be allowed to build their 65 foot tall condominium complex, Residences at Hyde Park, on a site across from the Sarasota Memorial Hospital - too big, too obtrusive onto the street, they argued. The trash dumpster area would be visible from the street; and city officials further required that a stately grand oak tree, rooted in the center of the 1.5 acre property, be preserved. Developers were sent away, back to the drawing board.
When they returned to re-pitch their project , they expected the stiff opposition to prevail once again. However, what happened instead is a lesson for all developers and associations in this growing area of the state - the residents applauded and approved the plan, which will now go before the Sarasota Planning Board in June. Why the dramatic turn-around? Residents say that they felt validated that the developers listened to their concerns, went back and seriously addressed the issues, and came up with workable solutions. These solutions included slanting the walls of the complex to create less austere presence on the street and relocating the areas for trash. The complex concept was also re-drawn by the project architect in order to save the old oak tree.
City officials are impressed by the developers willingness to create a project the community approves of, while the Arlington Park association was open minded in considering the re-design. We can only hope as Sarasota and the surrounding areas continue to grow and develop, that more such harmonious relationships can be struck, for the benefit of us all.
Buying "As-Is" Properties
In a market with a healthy inventory, there are many homes on the market being sold "as-is". Buyers often are averse to viewing or purchasing an "as-is" property, fearing something drastically wrong with the house that the Seller is trying to conceal. However, Buyers should not discount "as-is" homes for this reason - they are often great purchases with very minor work needed.
Traditionally, a home seller might be responsible for a certain percentage of the repairs needed to the home as determined by a licensed inspector. Sellers are more and more selling the home "as-is" to avert the possibility of unexpectedly paying for repairs out of pocket - but often will ask a lower price in return. Common misconceptions include the fear that the "as-is" home is a handyman special, in need of massive repair. This is rarely true - in reality, Sellers sell homes "as-is" for a variety of reasons, and may not be aware of any issue with the home.
Buyers are also protected in several ways. In Florida, Sellers fill out Sellers Property Disclosure forms which are readily available to prospective Buyers. In this form, the Seller is bound to disclose any material problem he knows about - prior roof leaks, proposed land use changes, or a broken security system, for instance. In a variety of categories that range from interior to exterior, heating/cooling, age of appliances, and neighborhood issues, Sellers relate their knowledge to prospects so that they might make an informed decision.
Buyers should always invoke their right to an inspection of any property they purchase. The inspection period is generally 10 days to 2 weeks, and gives Buyers the opportunity to conduct any inspections they wish, most commonly being a general home inspection and a pest control inspection.
As a Buyer's Agent, I recommend writing a contract "As-Is with Right To Inspect". When making an offer, Buyers can indicate a dollar figure they are willing to absorb in repairs - if a licensed inspector determines that the repairs needed exceed that amount, the Buyer has the right to cancel the contract and get his deposit back. This process allows the Seller to refrain from being responsible for any repairs, but also affords the Buyer protection that they are not locked into a contract if a serious issue is found.
It is important to note that a Seller is never responsible for aesthetic improvements - a new paint job, for instance. Conversely, a Buyer cannot use expected aesthetic costs as a basis for "needed repairs". But the Buyer will be protected from major issues with the home not readily noticeable to the untrained eye.
For more information on working with a Buyer's Agent who can walk you through an "as-is" purchase, visit www.TrueSarasota.com.
Traditionally, a home seller might be responsible for a certain percentage of the repairs needed to the home as determined by a licensed inspector. Sellers are more and more selling the home "as-is" to avert the possibility of unexpectedly paying for repairs out of pocket - but often will ask a lower price in return. Common misconceptions include the fear that the "as-is" home is a handyman special, in need of massive repair. This is rarely true - in reality, Sellers sell homes "as-is" for a variety of reasons, and may not be aware of any issue with the home.
Buyers are also protected in several ways. In Florida, Sellers fill out Sellers Property Disclosure forms which are readily available to prospective Buyers. In this form, the Seller is bound to disclose any material problem he knows about - prior roof leaks, proposed land use changes, or a broken security system, for instance. In a variety of categories that range from interior to exterior, heating/cooling, age of appliances, and neighborhood issues, Sellers relate their knowledge to prospects so that they might make an informed decision.
Buyers should always invoke their right to an inspection of any property they purchase. The inspection period is generally 10 days to 2 weeks, and gives Buyers the opportunity to conduct any inspections they wish, most commonly being a general home inspection and a pest control inspection.
As a Buyer's Agent, I recommend writing a contract "As-Is with Right To Inspect". When making an offer, Buyers can indicate a dollar figure they are willing to absorb in repairs - if a licensed inspector determines that the repairs needed exceed that amount, the Buyer has the right to cancel the contract and get his deposit back. This process allows the Seller to refrain from being responsible for any repairs, but also affords the Buyer protection that they are not locked into a contract if a serious issue is found.
It is important to note that a Seller is never responsible for aesthetic improvements - a new paint job, for instance. Conversely, a Buyer cannot use expected aesthetic costs as a basis for "needed repairs". But the Buyer will be protected from major issues with the home not readily noticeable to the untrained eye.
For more information on working with a Buyer's Agent who can walk you through an "as-is" purchase, visit www.TrueSarasota.com.
Wednesday, April 19, 2006
Hurricane Preparations Encouraging
As we near the summer months, thoughts naturally turn to preparing for another hurricane season. Experts are varied in their predictions of the likelihood of a major storm hitting the Sarasota region - but in the end, Nature herself will have the final word. Although the last two seasons have certainly been catastrophic in some areas, those communities better prepared for a major storm will certainly fare better. Living on the Florida Gulf Coast is a special lifestyle understood by our residents; and perhaps not by others nationwide who fear the storms. But while we cannot control Mother Nature, we are making great strides to better prepare for her inevitable arrival in the form of a major storm .
One of the factors that makes it a bit easier is that in large degree, we have ample warning that a storm is on its way. On a personal level, residents are well aware of their responsibility to stockpile water, non-perishable foods, batteries and the like. We know to watch carefully a storms path, gas up our cars and keep a spare gas can full as well. We have purchased hurricane film, shutters and millions of plywood barriers for our homes. But are our communities preparing at the same level of conscientiousness? In the Sarasota region the answer is a resounding yes.
Emergency management officials in the region report :
* New Red Cross offices have been set up to recruit volunteers and serve as additional backup sites
* New "hardened shelters (at least 18 feet above sea level) are being identified and readied, even in low lying counties
* Sarasota County has spent $2 million dollars equipping special-needs shelters, increasing capacity and hard wiring generators for oxygen for any patients who may need it.
* Pet-friendly shelters in the county have doubled
* A special team of 180 doctors, nurses and healthcare workers has been assembled for rapid responses in an emergency
* The Senior Friendship Center in Sarasota county is working with other faith based groups to assemble volunteers for debris clean up and water distribution after a storm
* The Sarasota K-9 Search and Rescue Team bought a new trailer not only for dispatch of supplies, but an air conditioned spot for the four-legged workers to rest.
Hurricanes can be scary, of course. But as we get better at predicting the paths, being pro-active, and responding to our neighbors, we lessen the impacts. Residents of South Florida understand that the benefits of living in such a paradise make this season a necessity to go through - but we are ready!
One of the factors that makes it a bit easier is that in large degree, we have ample warning that a storm is on its way. On a personal level, residents are well aware of their responsibility to stockpile water, non-perishable foods, batteries and the like. We know to watch carefully a storms path, gas up our cars and keep a spare gas can full as well. We have purchased hurricane film, shutters and millions of plywood barriers for our homes. But are our communities preparing at the same level of conscientiousness? In the Sarasota region the answer is a resounding yes.
Emergency management officials in the region report :
* New Red Cross offices have been set up to recruit volunteers and serve as additional backup sites
* New "hardened shelters (at least 18 feet above sea level) are being identified and readied, even in low lying counties
* Sarasota County has spent $2 million dollars equipping special-needs shelters, increasing capacity and hard wiring generators for oxygen for any patients who may need it.
* Pet-friendly shelters in the county have doubled
* A special team of 180 doctors, nurses and healthcare workers has been assembled for rapid responses in an emergency
* The Senior Friendship Center in Sarasota county is working with other faith based groups to assemble volunteers for debris clean up and water distribution after a storm
* The Sarasota K-9 Search and Rescue Team bought a new trailer not only for dispatch of supplies, but an air conditioned spot for the four-legged workers to rest.
Hurricanes can be scary, of course. But as we get better at predicting the paths, being pro-active, and responding to our neighbors, we lessen the impacts. Residents of South Florida understand that the benefits of living in such a paradise make this season a necessity to go through - but we are ready!
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