Is Now the Time to Buy in Sarasota Real Estate? Here is why it is a good time to purchase.
The number of people relocating and purchasing in Florida is 1,370 per day. Their 8 to 10 year plan is to be in Florida either part time or full time. Why? Florida has no State Personal Income Tax, Much Lower Property Taxes (ask about Homesteading a Florida property), Beautiful Weather, Glorious Beaches, Great Boating, all kinds of outdoor activities and is a Happy Place to be. And to say nothing of Covid Lifestyle Changes. That is why 21,000,000 Florida Residents live in Florida with 105,000,000 people visiting in Florida between January and May every year.
And yes, we are seeing property appreciation of around 25% per year, right now. Will appreciation continue? Yes, but not as high, probably settle back to 7%-12% because of Demographics, Inventory, Supply Chain Issues getting resolved and Higher Interest Rates. Therefore, prices are not going down with current low interest rate of 2%-3% and. the Banks are not giving any money away like 2004-2006. Everyone has to qualify for a Loan. No false financial leverage!
If you have a similar 8 to 10 year plan to be in Florida, then now is the time!
As professionals, we know how to help you purchase Your Florida Lifestyle!
Now the three County News …….
Is Now the Time to Buy in Sarasota Real Estate?
In Sarasota County. The Closed Sales decreased -26.1% over the previous month. New Listings decreased -0.6% and the Inventory Level increased to 0.6 months (less than 1 month) of Inventory. Remember 6 months of Inventory is considered a Balanced Market. Year to Date Median Price increased +29.3% from the previous year (+2.4% per Month). Days on Market decreased to 23 Days. Sold Price to List Price increased to 100.4%.
Manatee County. The Closed Sales decreased -17.1% over the previous month. New Listings decreased -0.8% and the Inventory Level increased to 0.6 (less than 1 month) months of Inventory. Year to Date Median Price increased +20.6% from the previous year (+1.7% per Month). Days on Market decreased to 18 Days. Sold Price to List Price increased to 100.4%.
Charlotte County. The Closed Sales decreased -8.8% over the previous month. New Listings decreased -5.2% and Inventory Level increased to 0.8 (less than 1 month) months of Inventory. Year to Date, Median Price increased +25.0% over the previous year (+2.1% per Month). Days on Market increased to 22 Days. Sold Price to List Price increased to 100.1%.
Look at the graphics with the Real Estate Activity by County in Manatee, Sarasota & Charlotte Counties. Great Interest Rates under 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!
Published on 2021-08-17 08:30:42