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Sarasota Real Estate Blog

It’s no secret that Florida has been experiencing a massive residential boom, the housing market is in high demand and shows no signs of slowing. According to the May 2018 Luxury Home Index from realtor.com®, interest from potential home buyers in Northern states have pushed two Florida counties – Sarasota and Collier – to the top of the nations fastest growing housing markets.

This May, the top 5 percent of expensive home prices in Sarasota (North Port) and Collier (East Naples) counties grew by 19 and 14 percent. But not only are Sarasota and Collier seeing expansion, Broward County – home to Fort Lauderdale – grew 9 percent year over year. These numbers are huge, and a large amount of this growth can be credited to heightened interest from buyers

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FACTS


  •       86 percent of current renters want to own a home in the future.
  •       Homeowners bring stability to neighborhoods. Homeowners move far less frequently than non-owners, and hence are embedded into the same neighborhood and community for a longer period.
  •       The average child of homeowners is significantly more likely to achieve a higher level of education and, thereby, a higher level of earnings.
  •       While both homeowners and non-owners may aspire to be engaged parents, homeowners likely live in neighborhoods with more opportunities for school involvement or participation in                neighborhood activities.
  •       Homeowners report better physical and psychological health than the average non-owner.
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The spring home-buying season is underway, but there have been a plethora of changes within this last year. "Congress has curtailed tax incentives to purchase a home, and mortgage rates and home prices are up. Yet for most folks with a stable job, buying a home is still better than renting." The new tax law has doubled the standard deduction to $24,000 for couples and caps their deductions for state and local taxes at $10,000. Those combine to greatly reduce the tax incentive to own a home – the share of homeowners who will itemize deductions and list mortgage interest and property taxes is estimated to fall from 44 percent to 14 percent. 

Most homebuyers have more disposable income to pay mortgages. In their take home pay, a higher standard

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It's that time of year again. The spring market is in full swing and crowds of buyers are fighting over their dream house—or at least the closest thing to it, considering this year's nationwide inventory shortage isn't leaving many options. So, what does that mean? For the most part, higher prices, more competition and a whole lot of bids. Listings in good condition tend to get multiple offers this time of year, and buyers are putting forth their strongest submissions—cash offers, over-asking, fast closings, no contingencies, etc. But creativity is the name of the game in this year's competitive market. Buyers are inspired to win over the seller's emotional side. Here are the latest home-buying trends for beating out the competition in a swarming

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With consideration that it is only May of 2018, this two-county area has already closed on 5,015 properties which is a substantial increase from this time last year! While the inventory levels dropped during the month of March, the median prices only continue to rise. This past month has also shown pending sales increasing greatly with indicating more closed sales on the horizon. Altogether, the closed sales for single-family homes and condos have raised 2.3% with comparison to this time last year! The condominium market has had an improvement with sales with a 9.9% increase in Sarasota County and a 9.7% increase in Manatee County. On the other hand, single-family home sales have lowered about 0.2% to 580 in Manatee County and Sarasota County decreased by

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According to the U.S. News & World Report, Sarasota, FL has been recognized as the number one place to retire. If you are looking to maximize your retirement while  living in one of the best places then take note: Sarasota has now outranked all of the other cities when considering happiness and satisfaction. This beautiful city has  actually beat San Antonio and Pennsylvania by a long shot! Some of you may be wondering how exactly it was determined that Sarasota is the #1 city for a retiree to  live- well this city was given this spot by evaluating a plethora of criteria such as "the happiness index, housing affordability, retiree taxes, job market, quality of  healthcare and desirability." This South West region, which can be found about an hour from

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Recently, the overall housing construction has not been up to pace with the population growth in the U.S.- this has been going on for more than an entire decade! To prevent shortages from happening across the nation, all builders will need to consider the fact that they will need to construct 7.3 million more homes, according to a new report. "The Up for Growth National Coalition, a group of real estate developers, owners, and builders of affordable housing, finds that since 2000, builders in about 22 states and the District of Columbia have not constructed enough homes to sustain population growth."

California is the most in need of new housing, having built 3.4 million fewer homes than necessary to support its population during this time period,

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Within this past year, the typical spring buyer is on the lookout for a three bedroom, two-bathroom home with a garage and up-to-date kitchen, according to a new survey released from realtor.com. This given survey has also found that the needs for families and the rising of rent prices are encouraging most millennials to get into the current market, while most 55+ buyers are geared towards having more privacy and comfort in the next home they purchase.

"Although record-low inventory and high prices make this housing market unique, some classic features still top most shoppers' wish lists," says Danielle Hale, chief economist for realtor.com." 

With reference to this article, some very distinct differences were identified in regards to

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North American Luxury Review- February 2018

February 2018 figures reveal that overall the luxury real estate market throughout North America continues to remain stable, settling into a “new normal”. In general, luxury home prices have leveled off mainly due to inventory constraints easing as demand decreased after the post- recession housing boom. Diane Hartley, General Manager for The Institute for Luxury Home Marketing, stated during a recent interview that “the luxury real estate market led the general housing market out of the global recession, and during that explosive upswing, we saw some of the largest year-over-year price gains ever; now we are simply seeing a return to a more typical pricing and sales paradigm — especially for

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A list by Niche.com ranks the area at No. 1.

South Sarasota has been ranked the best area to go to public school in Florida, according to a new ranking by national website Niche.com. The website gives schools in south Sarasota an A+ overall grade and A+ public schools grade. It was also ranked the 57th best place to live in Florida. The general region of Sarasota was also ranked third in best public schools in Florida, although the site does not make it clear how it breaks up regional areas. Gulf Gate Estates and South Gate Ridge, near Bee Ridge Road and U.S. 41, also made the site’s Top 5 rankings for best public schools in Florida. The Sarasota County School District is one of only two of Florida’s 67 school districts to have maintained an A

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