Sarasota, Florida market news is good news if you are a seller.
In August of 2014 there were 975 closed transactions. Last month it was 928 and last August 2013 it was 957 transactions. Steady on through the summer we will probably see as good a number because of the 832 pending sales from August in Sarasota, Florida.
The median sales price for single family homes for August 2014 is $195,750, down a bit from last month’s price of $201,000 and about the same for August 2013 when it was $195,000.
Now, the inventory….it’s still low at 4.1 month’s supply. It is still a SELLER”S MARKET!
The Sarasota County Real Estate market is strong and with the great demand of buyers, it will continue. Can’t wait for the snow birds to flock back.
If you want to know what your home is worth or what to do to get ready to sell just call Susan Phelps at 941-726-2227 for help.
A recent Bloomberg report listed 15 small lending firms that are offering slightly riskier mortgages. They may come with higher interest rates and larger down payment requirements and they may not be backed by the government.
As the larger banks tighten their credit standards over the last few years, smaller banks and local community based banks are starting programs for borrowers who have higher debt burdens or who had sold a home for less that the outstanding mortgage. Making smart loans to people who don’t fit in the mold doesn’t make them a worse risk.
Some lenders are working with debt-to-income ratios up to 55 percent, and interest-only loans when borrowers have “high disposable income” or “high income potential” due to their line of work.
My experience in Sarasota, Fla. is that there are some community banks that will tailor loans for individuals with assets. These portfolio loans allow the bank to be flexible enough to provide different structures to individuals who don’t fit the guidelines of the larger banks. Some smaller banks in our area are many times the first to provide new programs with down payment assistance provided by community programs.
I am not a financing expert but I certainly know people that are. For the next Women’s Council of Realtors program we have brought in an expert to discuss financing options that Realtors need to know about for their customers. Call me at 941-726-2227 if you have questions or if you want me to connect you with one of my resources for “financing out of the box.”
The Sarasota market remains strong. Once again we have hit 1,000 plus sales for the month of October! 1,011 sales were recorded in Sarasota County in the month of October.
This is the 5th time in the last 8 months. Last October we saw 820 sales so we are 23% higher than a year ago. If sales continue at this strong pace, 2014 might have higher sales numbers than 2004, when 11,482 sales were recorded in the county, our highest year in history.
Our median price for single family homes is $195,000, up from September’s price of $186,388. The median sale price for the 12-month period ending in October, which moderates monthly swings, was $196,000 for single family homes.
The inventory remains low at 4.0 month’s supply. It is still a SELLERs market everyone! Now is the time to sell!
IF YOU WANT TO KNOW THE VALUE OF YOUR HOUSE GIVE ME A CALL AT 941-726-2227.
And if you are thinking of living in Paradise, call me now. I’m Sarasota Suze, a resident for over 30 years with the knowledge and ability to help you find the home just for you.