Sarasota Florida Homes for Sale » National Real Estate News

Sarasota FL Real Estate Sales Increase 24.2% For February 2011

The Biggar Team — Sat, 19 Mar 2011 10:21:42 +0000

In Sarasota, Florida for the month of February 2011, the real estate sales for Single Family Homes and Condominiums increased by 24.2% in February 2011 compared to January 2011. The number of available properties for sale in the Sarasota real estate market has dropped to a six-year low in February 2011.

Compared to total sales of 528 in February 2010 , sales were up 27 percent to 673 total sales in February 2011. In February 2011, there were 472 closings on Single Family Homes and 201 closings on Condominiums last month by members of the Sarasota Multiple Listing Service.

For a Free Search of available properties in Sarasota, FL, please visit our web site. www.SarasotaFLAreaHomes.com

Sarasota FL Real Estate – Best Time To Buy?

The Biggar Team — Sat, 19 Feb 2011 10:25:35 +0000

We are often asked by Buyers, if the property that they are considering is at the lowest price to purchase based upon the Market Conditions. So much of what is read in the media today, states that the market in Florida is continuing to decline.

In the Sarasota Market we are experiencing a rapid recovery. Only two years ago, January 2009, our overall inventory of Single Family Homes was 25 months. At the end of January 2011, the inventory of Single Family Homes was 9 months. If we look at specific price bands, one price band was 5 months. A normal Market Equilibrium between Buyers and Sellers is 6 months of inventory.

To be even more accurate, we can look at specific neighborhood trends for our principals. Some neighborhoods have seen the bottom and are starting to appreciate based upon recent sales. Also, remember that the better properties sell first! Clearly, now is the time to buy!

For a Free Search of properties in the Sarasota, Florida area, please visit our web site at www.SarasotaFLAreaHomes.com

President Announces Making Homes Affordable Program Update.

The Biggar Team — Thu, 30 Apr 2009 23:52:11 +0000

The Making Homes Affordable Program (MHA) has a recent update, announced April 28, 2009 by the White House. The program offers addressing the Second Lien Program and Support for Homeowners.

The Second Lien Program will reach 1 to 1.5 Million Homeowners to reduce loan interest, pay for success incentives and a payment schedule for extinquishing second mortgages.

The Support for Homeowners Program includes making the home affordable by requiring servicers to refinace in tandem with MHA trial modification, pay for success incentives, more principal writedowns, legislation to help homesowners, and U.S. Treasury purchase of special Ginnie Mae Pools to provide liquidity.

Both of these programs need to pass the U.S. House of Representatives and the U.S. Senate.

U.S. Treasury Considers Purchasing Mortgage Backed Securities to Help Drive Mortgage Rates to 4.5%.

The Biggar Team — Wed, 10 Dec 2008 21:43:32 +0000

As reported last week, two government agencies are proposing plans to attempt to drive the mortgage rates as low as 4.5%. Both the U.S. Treasury and the Federal Reserve have proposed similar plans to help the housing crisis. The idea is that the increased demand for mortgage backed securities would lower the mortgage rates.

Bank Of America (Countrywide) Settles Lawsuit Over Bad Mortgages

The Biggar Team — Wed, 08 Oct 2008 21:54:58 +0000

The Florida Association of Realtors today reported that the Bank of America has agreed to modify tens of thousands of loans to keep people in 11 states from losing their homes, the Illinois Attorney General’s office said on the 7th of October.

Borrowers stuck with mortgages that they can’t afford could see interest rates reduced or have the loan principal cut. Some may qualify for only having to pay interest for a decade and others who can’t afford their homes will get help moving to a new home.

11 States have joined in this suit and if all 50 States join the settlement could provide $8.7 billion in relief for 400,000 borrowers, it is reported.

The mortgage aid includes revising customer’s payments so they don’t exceed 34% of income. Other options include reducing interest rates and adjusting principal so that borrowers don’t wind up actually losing equity under some payment plans, it was reported.