Real Estate News for the Sarasota - Bradenton and Lakewood Ranch

Here is some resources for recent good news relating to Real Estate in the Sarasota - Bradenton and Lakewood Ranch area. Enjoy.

Florida: a mix of different personalities: http://property.timesonline.co.uk/tol/life_and_style/property/overseas/article7043180.ece

BUILDERS BOUNCE BACK:
http://www.bradenton.com/2010/03/01/2093253/builders-bounce-back.html

Good Time to Buy a Home - Video - FoxBusiness.com:
http://video.foxbusiness.com/v/3965326/good-time-to-buy-a-home?playlist_id=87185

The Silver Lining in Today’s Cloudy Market:
http://kcmblog.com/2010/02/22/the-silver-lining-in-today’s-cloudy-market/

Homeownership: Still the American Dream:
http://kcmblog.com/2010/02/09/homeownership-still-the-american-dream/

Sarasota is Top Place For Boomers To Retire:
http://www.cnbc.com/id/35259928?slide=7

Sarasota - #1 City to buy Real Estate according to Barbara Corcoran on NBC's Today Show: http://today.msnbc.msn.com/id/26184891/vp/33191501#33191501


If these links do not show as active just cut and paste into your browser.....

First Time Home Buyer Tax Credit Gets Senate and Obama Approval

It looks like good news for home buyers. The $8,000 First Time Home Buyer Tax Credit EXTENSION has received Senate and President Obama informal approval over the last couple of days. Although the signatures to seal the deal appear all but certain it still has yet to be passed. This week Senators struck an agreement to not only push back the measure's deadline but to expand; allowing current homeowners and other buyers to claim the tax credit as well. A provision for a $6,500 tax break for homebuyers who have lived in their prior residences for at least five years may be added. Income limits for couples and individuals to qualify for the tax credits will also likely be increased, opening up the door for even more people to take advantage of the tax break(s). The plan calls for an extension of the credit until April and that buyer(s) must have a sales contract on a house by April 30, 2010 to be eligible yet gives them an additional 60 days to actually close on the property. We’ll keep you posted when it becomes official…and until then…keep looking for your new dream home!

Sarasota as the top market to buy a home RIGHT NOW!

If you are sitting on the fence about buying a home in Sarasota? Real Estate prices in Sarasota have stabilized and are starting to trend upward. On Thursday morning, October 8, Barbara Corcoran, the Today Show's real estate expert, targeted Sarasota as the top market to buy a home RIGHT NOW. Click on the link (on the Jim Soda Blog) to find out more: http://www.jimsoda.com/blog/archives/2009/10/sarasota-number-one-in-the-nation.html

Randy the Realtor's Rules for a Successful Short Sale Closing

Both clients and fellow real estate professionals can attest that real estate short sales can be a big black hole. As a Realtor that deals with the increasingly complex and changing road map involved in a successfully closing of a short sale, I believe that everyone involved in the transaction must work together to navigate the layers involved in the approval process and strive to help both buyers, sellers and lender come together. And… in an area of real estate where there seems to be no rules. Here are my rules for a successful short sale closing:

1. Short sales are here to stay for the foreseeable future
2. Buyer must be committed for the long haul (90 plus days)
3. Buyer’s offer must be based on current sold comps to match lender BPO (Broker Price Opinion)
4. Seller must have a lender negotiator/mitigator in-place
5. Seller’s Realtor or negotiator has to be a relentless pain calling the lender
6. Property should have only one loan or if two, both with the same lender

And some facts….While the market is showing signs of improvement, it's important to note that there have been over 11,000 listings entered in the Mid-Florida Regional MLS that indicate a potential short sale since January 1, 2009. Only 315 have been reported as sold transactions during that same period. If you have any questions about short sales or are looking to buy or sell real estate in the Sarasota/Bradenton area please give me a call at 941.586.9635.

Celebrate Sarasota Earth Day 2009 with a Green Commitment

To celebrate Earth Day I am posting my seven best “Green Ideas” that will save energy, money and make for a healthier living environment. If you haven' t implemented any of these suggestions try to start small and make an Earth Day commitment to at least one green idea. Like anything in life, the small things add up.

1. Buy a programmable thermostat and reduce your energy consumption by planning your energy needs.
2. Avoid buying plastic bottled water. Try to reuse everything, especially plastics…and recycle.
3. Reduce your water use. Make sure you have low-flow faucets, shower heads, and toilets.
4. Buy locally made food products and locally produced services. Healthy food, environment and economy. Try a local Farmers Market.
5. Use compact fluorescent light bulbs. By using energy-efficient light bulbs you will save energy and money.
6. Turn off lights and electronics when you leave the room. Unplug your cell phone charger from the wall when not using it. Turn off energy strips and surge protectors when not in use (especially overnight).
7. Recycle your paper, plastics and other items that your local waste pick-up will take.

Merry Christmas from The Jim Soda Group!

Hello Friends!
I hope you enjoyed your Thanksgiving and have now recovered from over-eating It's now time to shift gears, and we talk to so many people that are discouraged by the news, stock market and other media that we thought it was a good time to take a moment for a good laugh (at our expense). Click on the link below, and then create one yourself and pass it along; laughter is contagious!!

http://elfyourself.jibjab.com/view/FrGWzFlyqJroFl6h2dfT

On a serious note, if you need any assistance in your home selling / buying process in the Sarasota or Lakewood Ranch area, or simply would like someone to bounce ideas off of, we are here for you. Don't hesitate to give someone on the team a call.
Enjoy the season, those around you and make sure you take time to laugh!!!

Happy Holidays!

Randy and the Gang
The Jim Soda Group
http://www.jimsoda.com/

Real Estate Term You Should Know

MARKET PRICE - The price paid regardless of pressures, motives, or intelligence.

Price Reduction: 5762 New York Ave, Sarasota, Florida 34231

Great Duplex investment opportunity in Sarasota! Live in one unit and have unit #2 help pay the mortgage or leased both units. One unit is a 2 Bed, 2 Bath & the other unit is a 2 Bed, 1 Bath. Renters are in place at $800 each. Updated condition with newer tile, newer plumbing and electrical. Conveniently located near Clark Road and Beneva. Close to beaches, shopping and all the Sarasota area has to offer. Each unit has a laundry room and its own carport. Generously sized backyard with storage shed. New Price $259,000. Check out the Virtual Tour. Call or e-mail me if you have any questions.

About Area Neighborhoods: Indian Beach

This beautiful and historic neighborhood is located in northern side of Sarasota along the spectacular bay front. Many of the older water front homes have been remodeled and/or knocked down to make way for luxurious mansions. These homes have some of the best water views in Sarasota because this is one of the widest parts of Sarasota Bay. Located within minutes of downtown Sarasota and Bradenton.

New Listing: 1064 N. TAMIAMI TRL # 1335, SARASOTA Florida 34236

Outdoor living in a condo? YES! Live across from the Sarasota Bay and Bayfront Park and enjoy entertaining on the expansive patio which truly creates additional living space. This unique lanai and floor plan is one to remember. Live luxuriously in this 2 bedroom, 2 bath condominium with lovely appointments like granite, upgraded cabinets, tile, stainless appliances, and a washer & dryer. Building offers concierge service, media room, fitness center, billiards, heated pool/spa, meeting room, business center and underground controlled access parking. Walk to Downtown, and the new Publix next door. Convenience, style and location! Price: $289,000. Virtual tour

Join the Sarasota Coastal Clean Up Day This Saturday!

Join the Green Realtors Alliance of Sarasota (GRAS) which is partnering with the Ocean Conservancy for the 23rd Annual Keep Sarasota County Beautiful Coastal Cleanup on Saturday, September 20, 2008. Many GRAS members and others will be strolling the local waterways, catching some rays and picking up trash to beautify our area. Volunteers are needed to help clean up Sarasota's beautiful bay front parks as part of Ocean Conservancy's International Coastal Clean Up Day. Sandy Keith, Chairman of GRAS, is spearheading the Realtor® volunteer group.

The group will gather initially at Bay Front Park, which fronts on U.S. 41 near Selby Gardens. Meet by the southern archway entrance to Bay Front Park and then the group will break into smaller groups to pick up marine trash at Bay Front Park & Marina, Bird Key Park, John Ringling Causeway Parks, and Ken Thompson Park. Please consider coming and volunteering. See you there.

Fannie Mae and Freddie Mac Placed Into Government Conservatorship

Fannie Mae and Freddie Mac, government sponsored enterprises (GSEs), were placed into a conservatorship Sunday by the U.S. Dept. of the Treasury. The Federal Housing Finance Agency (FHFA) will serve as the conservator, and the CEOs of each company were relieved of their duties. Replacing them are Herbert Allison, former Merrill Lynch vice chairman, and David Moffett, former U.S. Bancorp CFO, who will now lead Fannie Mae and Freddie Mac, respectively.

MAKING SENSE OF THE STORY
· Under the conservatorship, the FHFA has the authority to take up to an 80 percent stake in the companies, and will review both GSEs’ financial condition quarterly. The federal government also may inject capital into Fannie Mae and Freddie Mac, if needed. Both GSEs will be allowed to increase their mortgage funding over the next year and a half, and their stock will continue to trade, with stockholders retaining all rights in the stock’s financial worth. However, the plan does call for a 10 percent reduction per year to GSEs’ portfolios, beginning in 2010, until they have been reduced to $250 billion.

· Although the conservatorship has resulted in lower interest rates for consumers, and restored investor confidence, the Treasury and the new CEOs will change the mission and role of GSEs. Without GSEs, mortgage capital eventually will be less predictable and more expensive. This may result in adjustable-rate mortgages becoming the standard loan for home buyers, as well as higher down payment requirements, and the possible disappearance of the 30-year fixed-rate mortgage.

· Most industry professionals support a structure that maintains GSEs in their current countercyclical roles and is urging lawmakers to support continued government involvement in supporting the institutional secondary market. As a result of these concerns, Realtors and others in real estate will be asking Congress to enact legislation to ensure GSEs continue to fulfill their congressional mission of supplying an affordable and stable flow of capital for home loans.