Fine Florida Homes Team

Keeping Current with Sarasota/Bradenton Real Estate

Have you ever heard the phrase: don’t believe everything you hear? There’s a lot of misinformation out there. And right now, making sure you have someone you can go to for trustworthy information is extra important.

1. I’ll Get a Better Deal Once Prices Crash

If you’ve heard home prices are going to come crashing down, it’s time to look at what’s actually happening. While prices vary by local market, there’s a lot of data out there from numerous sources that shows a crash is not going to happen. So, if you think waiting will score you a deal, know that data shows there’s not a crash on the horizon, and waiting isn’t going to pay off the way you’d hoped.

2. I Won’t Be Able To Find Anything To Buy

If this nagging fear about finding the right home if you move is still holding you back, you probably haven’t talked with an expert real estate agent lately...

Today’s Biggest Housing Market Myths Have you ever heard the phrase: don’t believe everything you hear?

Keeping Current with Sarasota/Bradenton Real Estate

If you’re thinking about buying a home, there are 3 reasons you may want to make your move this fall.

1) Inventory is growing, giving you more options
2) Newly built homes may be more budget-friendly than you’d expect
3) Mortgage rates have come down from their peak last October

Want to talk about what this means for your move? DM me.

Keeping Current with Sarasota/Bradenton Real Estate

When you're thinking about buying a home, your credit score is one of the biggest pieces of the puzzle. Think of it like your financial report card that lenders look at when trying to figure out if you qualify, and which home loan will work best for you. As the Mortgage Report says:

"Good credit scores communicate to lenders that you have a track record for properly managing your debts. For this reason, the higher your score, the better your chances of qualifying for a mortgage."

The trouble is most buyers overestimate the minimum credit score they need to buy a home. According to a report from Fannie Mae, only 32% of consumers have a good idea of what lenders require. That means nearly 2 out of every 3 people don’t.

So, here’s a general ballpark to give you a rough idea. Experian says:

“The minimum credit score needed to buy a house can range from 500 to...

What Credit Score Do You Really Need To Buy a House? When you're thinking about buying a home, your credit score is one of the biggest pieces of the puzzle.

Keeping Current with Sarasota/Bradenton Real Estate

Over the past couple of years, a lot of people have had a hard time buying a home. And while affordability is still tight, there are signs it's getting a little better and might keep improving throughout the rest of the year. Here’s a look at the latest data on the three biggest factors affecting home affordability.

1. Mortgage Rates

Mortgage rates have been volatile this year, bouncing around from the mid 6% to low 7% range. But there's some good news. Data from Freddie Mac shows rates have been trending down overall since May. When rates decline, it's easier to afford the home you want because your monthly payment will be lower. Just don’t expect them to go back down to 3%.

2. Home Prices

The second big thing to think about is home prices. Nationally, they’re still going up this year, but not as fast as they did a couple of years ago. As Odeta Kushi, Deputy...

Is Affordability Starting To Improve? Over the past couple of years, a lot of people have had a hard time buying a home.

Keeping Current with Sarasota/Bradenton Real Estate

Thinking about selling, but not sure where you’ll go?

The good news is the supply of newly built and existing homes for sale has grown this year. That gives you more options – each with their own perks.

So, which will you choose? A charming existing home or a shiny new build?

Let me know which features you’re looking for in your next home. Drop your answer below.

Keeping Current with Sarasota/Bradenton Real Estate

Are you a part of the Sandwich Generation? According to Realtor.com, that’s a name for the roughly one in six Americans who take care of their children and their parents or grandparents at the same time.

If that sounds familiar to you, juggling all the responsibilities involved certainly must have its challenges. But it turns out there’s one pretty significant benefit: it can actually make it a bit easier for you to buy a home.

How Can It Help You Buy a Home?

Here are a few ways their caretaking situation might be helping those 33% buy a home:

• Sharing Expenses

• Built-In Childcare

Beyond just the financial reasons, buying a multi-generational home has other advantages. The Profile of Home Buyers and Sellers from the National Association of Realtors (NAR) highlights some of the most popular, including:

• Easier To Care for Aging Parents

• Spending More...

Why the Sandwich Generation Is Buying Multi-Generational Homes Are you a part of the Sandwich Generation?

Those that are still with us are referred to as "the elderly"

Keeping Current with Sarasota/Bradenton Real Estate

Figuring out what to do with your house when you're ready to move can be a big decision. Should you sell it and use the money for your next adventure, or keep it as a rental to build long-term wealth?

Is Your House a Good Fit for Renting?

Even if you're interested in becoming a landlord, your current house might not be ideal for renting. Maybe you're moving far away, so keeping up with the ongoing maintenance would be a hassle, the neighborhood isn't great for rentals, or the house needs significant repairs before you could rent it out.

If any of this sounds like it might apply, selling might be your best option.

Are You Ready for the Realities of Being a Landlord?

Managing a rental property isn't just about collecting rent checks. It's a time-consuming and sometimes challenging job.

For example, you may get calls from tenants at all hours of the day with...

Should You Rent Out or Sell Your House? Figuring out what to do with your house when you're ready to move can be a big decision.

Keeping Current with Sarasota/Bradenton Real Estate

As someone who’s thinking about buying or selling a home, you’re probably paying close attention to mortgage rates – and wondering what's ahead.

One thing that can affect mortgage rates is the Federal Funds Rate, which influences how much it costs banks to borrow money from each other. While the Federal Reserve (the Fed) doesn’t directly control mortgage rates, they do control the Federal Funds Rate.

The relationship between the two is why people have been watching closely to see when the Fed might lower the Federal Funds Rate. Whenever they do, that’ll put downward pressure on mortgage rates. The Fed meets next week, and three of the most important metrics they’ll look at as they make their decision are:

1. The Rate of Inflation
2. How Many Jobs the Economy Is Adding
3. The Unemployment Rate

What Does This Mean Moving Forward?

While mortgage rates are going...

How the Economy Impacts Mortgage Rates As someone who’s thinking about buying or selling a home, you’re probably paying close attention to mortgage rates – and wondering what's ahead.

Keeping Current with Sarasota/Bradenton Real Estate

Having a hard time finding a place to call home in your budget?

Thousands of Americans are on the move in search of better affordability.

That’s because broadening where you're looking could help you find somewhere your money takes you a little further.

Don't make the mistake of over asking your home in our new market.

Keeping Current with Sarasota/Bradenton Real Estate

Did you put off your home search because the market was too intense?

Here’s some good news: buyer demand is easing and inventory is growing. This means you may be able to avoid being in a multiple-offer scenario.

Want to learn more about the opportunities buyers have in the second half of this year? DM me.

Our real estate market continues to cool, as homes are staying on the market much longer, and sellers are more willing to entertain lower offers.....
* New Listings have decreased compared to May 2024, but increased compared to May of 2023.
Inventory levels (Active Listings) have increased slightly compared to May 2024, but are up 56% compared to May 2023.
* The number of units sold decreased from May 2024 by 14% and has decreased by 13% compared to May 2023.
* Total Sales Volume decreased by 12% compared to May 2024 and by 10% compared to 2023.
* Average Days on Market have increased since May 2024 and are up 33% compared to May 2023.

Good week for inventory reduction. Of course price reductions are all the rage.

Proposed State Policies on Vacation Rentals:
Many local and state officials have been at odds over proposals to regulate vacation rentals, with new restrictions capping fees and outlining maximum penalties.
The proposed laws have raised concerns about how they would impact existing local ordinances in cities like Sarasota, Bradenton, Anna Maria, and Holmes Beach.
Proposals at the Florida Legislature:
The Florida Senate approved regulating vacation rentals, allowing local governments to charge reasonable fees for registration and conduct inspections.
The House version of the bill contains language that limits registration fees to a maximum of $150 and fines to $300.
City Officials' Reactions:
Cities like Sarasota and Bradenton have already enacted vacation rental regulations with fees exceeding the proposed limits.
The city of Sarasota's registry initially only applied to vacation rental owners on the barrier islands, but officials have voted to expand the ordinance citywide.
Impact on Anna Maria and Holmes Beach:
Cities on Anna Maria Island and Holmes Beach have had vacation rental regulations in place since 2015, but the ongoing struggle between local and state control continues.
Local City Officials' Concerns:
Local officials are concerned about the impact of proposed state laws on their existing regulations, with some worried that new state regulations could set caps too low to cover program costs.
Vacation Rental Registry Programs:
The city of Sarasota charges $500 for an initial certificate and $350 for renewal, with a unique requirement for a seven-day minimum stay.
The city of Bradenton charges $250 for initial registration and $150 for annual renewal, aiming to cover program costs.
Anna Maria Island Vacation Rental Regulations:
The city of Anna Maria approved a set of regulations in 2015, including maximum occupancy limits, while Holmes Beach charges $545 for registration renewable every two years.

https://www.bradenton.com/news/local/article284028923.html

Big changes coming to Bradenton’s De Soto Grand Parade in 2024. Here’s what to know With a new route, a street party and more, organizers say the revamped parade will be like a “mini Gasparilla.”

If you are ready to buy before the rates go up again, give us a call at 941-241-6968.

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I’m hungry

Sarasota’s best Cuban sandwich restaurants: Where to go and what to order Are you craving a deliciously authentic Cuban sandwich, perhaps paired with Cuban chicken and yellow rice? Check out our favorite places in Sarasota.

NAR Economist: ‘Housing Recession Is Over’ Contract signings picked up the pace last month, and home buyers are increasingly facing multiple offer situations. NAR releases its housing forecast for the remainder of the year and 2024.

What a great event for Sarasota for the 4th of July. If you get the chance to check it it out, it is really a cool experience.

39th Sarasota Powerboat Grand Prix 2023 | Your Observer APBA and UIM Class 1 Powerboats are coming to Sarasota June 30th - July 2nd for another round of the 2023 P1 Offshore and AquaX Championships.

For everyone hoping housing prices come down, you should read the article. Basically the economist believe prices have bottomed out.

April Home Prices Mark First Annual Decline in Over a Decade The cooling effect of elevated mortgage rates and affordability challenges on home prices has held firm in recent months, as

Sad news for Lakewood Ranch.

Nancy's Bar-B-Q will close in Lakewood Ranch | Your Observer The restaurant is returning to downtown Sarasota after not being able to reach an agreement to renew the lease at Lorraine Corners.