How to Buy a Property in Sarasota Real Estate.

How to Buy a Property in Sarasota Real Estate.

If you are planning to be in Florida in the future or make Florida your long term home, then here is how to buy a property in this Real Estate Market.

The Inventory Level is under 1 month, and we do not see the Inventory Level changing much for a long time. A Normal Market Inventory is 6 months. There are more Buyers than Properties for sale. Typical to have 6 to 8 Buyers trying to purchase 1 property, especially properties under $450,000.

What to do?

1. Offer a Higher Price of 14%-18% over the asking price.
2. Put a lot of cash down with a smaller amount financed.
3. Remove Contingencies like Home Inspection & the Appraisal.
4. The Market is appreciating at 1.0% to 1.5% a month, not long before it passes your purchase price.

As professionals, we know how to help you purchase Your Florida Lifestyle!

Now the three County News …….

In Sarasota County. The Closed Sales decreased -1.8% over the previous month. New Listings decreased -1.6% and the Inventory Level the same at 0.7 months (less than 1 month) of Inventory. Remember 6 months of Inventory is considered a Balanced Market. Year to Date Median Price increased +17.4% from the previous year. Days on Market decreased to 21 Days. Sold Price to List Price slightly down to 99.0%.

Manatee County. The Closed Sales decreased slightly to -0.7% over the previous month. New Listings decreased -12.0% and the Inventory Level the same at to 0.7 (less than 1 month) months of Inventory. Year to Date Median Price increased +17.8% from the previous year. Days on Market decreased to 17 Days. Sold Price to List Price increased to 99.8%.

Charlotte County. The Closed Sales decreased -5.7% over the previous month. New Listings increased +4.5% and Inventory Level the same at 0.9 (less than 1 month) months of Inventory. Year to Date, Median Price increased +23.5% over the previous year. Days on Market decreased to 18 Days. Sold Price to List Price decreased to 98.8%.

How to Buy a Property in Sarasota Real Estate.

Is Now The Time to Buy in Sarasota Real Estate

Look at the graphics with the Real Estate Activity by County in Manatee, Sarasota & Charlotte Counties. Great Interest Rates around 3%!

Different types of Loan Products are available including:

• FHA 100%
• Bank Statement Program for Self Employed
• FHA 96.5% – Down to 580 Credit Score
• USDA 100% Loans – 620 Credit Score
• VA – 100% Financing
• FHA Streamline Refinance
• W-2 Only Program
• Condo Financing
• International Buyer Financing

Each person qualifies for a loan differently and your interest rate could be different. APR is not quoted, but available. Different programs are available with low down payments. Call me to see what your rate is.

Still Great Interest Rates! What are you waiting for?

We can help you with an REO/Bank Owned, Short Sale, Normal Sale or New Home Sale. Don’t miss your opportunity!

Call Kym at (941) 400-9420 or Helen at (941) 400-9489 to help you find Your Florida Lifestyle!