Chazert, Home Buyer in Sarasota, FL

What is the market trend for real estate values in Sarasota expected to be for the next 2 years?

Asked by Chazert, Sarasota, FL Thu Apr 26, 2012

I am considering a real estate investment in the central Florida area

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Answers

5
Terri Fellows | Sarasota, Fl’s answer
Hi Chazert,

Boy, that's a loaded question. We currently have a lot less inventory on the market and we are seeing many multiple offers. Properties are very much priced to sell, now that sellers understand that they need to be competitive with the short sales and foreclosures. No one has a crystal ball and much will depend on the economy and what happens to interest rates. We've experience slight price increases and many are predicting that the market has turned and becoming more of a sellers market. With rumors of massive foreclosures yet to hit the market and an eye on unemployment, gas prices and the stock market, I would suggest investing with the idea of long term goals in mind. I don't think you will see much change in two years but a five year outlook could prove to be quite lucrative.

Best of luck with your investment.
Terri

Teresa M. Fellows
Broker/Associate
ERA Waterside Realty
941-350-4297
Tmf4257@mac.com
0 votes Thank Flag Link Thu Apr 26, 2012
I agree with this assessment 100%. No one can accurately predict the future but as an investor in real estate for over 30 years, now is an excellent time to invest in Sarasota.
Flag Fri May 11, 2012
I've been in the mortgage and banking businesses for 35 years in Sarasota County. We currently have the lowest interest rates I've ever seen couple with fantastic bargains in home prices. That's a perfect combination. That hasn't happened before during my career. So, how long will it last? Historically interest rates have routinely risen after the election in an election year. Therefore I say the best time to buy and finance is now.

Consideration; If you wait to buy believing that you may save on the price of a home, that financial savings strategy could be undermined if you ended up paying 1% a year more in interest expense on a mortgage loan for each year that you carry that mortgage.

Please contact me if I can be of assistance.

Kroboth & Helm Mortgage Company Inc.
Michelle Taylor NMLS #317429
Mortgage Loan Originator
1444 First Street, Suite A
Sarasota, Fl 34236
941-350-8142 Cell
941-955-7115 Office
michelle@khmortgage.com
http://www.khmortgage.com Apply-on-Line!!
0 votes Thank Flag Link Thu Apr 26, 2012
We are already seeing strong signs of recovery in the overall Sarasota County market. The number of units sold is up dramatically, and available iinventory is down. This is an indication that prices will begin trending upward (although slowly) in 2013 and 2014.

I do not believe we are sitting a large enough inventory of "shadow" homes in foreclosure that will be dumped into the market to cause prices to fall further, although I do think this will affect our neighbors in Tampa and Ft. Myers.

We are already seeing multiple offers on foreclosure properties and the anticipated increased demand will be enough to take any excess foreclosures that people keep predicting out of the market.

David Barr
Broker Associate
Sandals Realty
941.870.0656 direct
Twitter: @sarasota_homes
Blog: homesinsarasota.blogspot.com
0 votes Thank Flag Link Thu Apr 26, 2012
We are seeing good signs of growth and prices are slowly moving up. Along with the new housing starts all over the intire area. Niel Communities is working on 18 different sites as well as many other builder in the area are doing different sites as well. Sarasota is obtaining higher than the state average price too. It is still a great time to buy, I know down the road were gonna hear many say I should have bought that home I looked at in 2012. It seemed like a good deal I should have pulled the triger oh well. Come down and look. I have traveled all over the world before I made the dicision to move here. I LOVE it here, really is paradise.
Re/Max Alliance Group
Michael Beninato
cell:908-578-0886
local cell: 941-479-2777
email: michaelb1@remax.ne
0 votes Thank Flag Link Thu Apr 26, 2012
Sarasota real estate value trend for the next 2 years.

Easy question to answer if we can determine how the 'bulk foreclosure buy' program is going to actually work.

Will the new refinance programs remove at risk homes from the market?
Will circumstances in the middle east wreck our economy?
Will Ron Paul become president?
Now that the space program has been closed, will a following reduction in defense spending effect the state economies significantly?
Will ceasing mail deliver on Saturday cause businesses to fail? (joking)
On Dec 21 will we all be here or will the Myans (or the calendar interpreters) be proven wrong?
Will the new bulk of foreclosures (many of which are failed refinance homes) be available for bulk investor purchase? Will these be mandated to the rental market or resale. (really important)

In the next two years, anything can happen..but you already know that.
What you can know with confidence is what has historically taken place and the direction the arrows are pointing in now. We can rationalize the composition of the pent-up demand for housing and how those who lost their homes due to foreclosure and short sale will acquire new housing.
One can review this data and position themselves to be in front of the segment of the wave they choose.

What you will discover is the real estate value trend will be very localized as was revealed in my recently completed research of over 200 area communities. Some communities are showing tangible value improvements while others are still seeking bottom.

Barring external, for instance Myan, influences, in two years there is substantial indication, if left unimpeded, the overall real estate market in Florida will be appreciating again. The reality, however is that every politician wants to be able to say they rescued the home owner and the temptation to interfere is irresistible.

Contact a local Sarasota real estate professional and have them prepare data much like shown in my blog. Don't know a Sarasota real estate professional? Give me a call.

Annette Lawrence
Broker/Associate
ReMax Realtec Group
Palm Harbor FL
727. 420. 4041
0 votes Thank Flag Link Thu Apr 26, 2012
What do you mean by "Myan" influences?
Flag Wed May 9, 2012
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