Sarasota Home Equity Matters

November 25th, 2015

Sarasota Home Equity Matters

An important part of the American Dream that remains the same is homeownership. The fact that it builds family wealth is one of the biggest reasons why.

Here is a chart that shows the home equity that has been built after 7 years of making mortgage payments (while assuming the national average of 3% per year home appreciation):


This number continues to grow as you continue to own your home.

Here is the average equity homeowners have acquired by certain ages according to a report published earlier this year by Merrill Lynch.


Bottom Line

Home equity is essential when building wealth as a family. If you rent, you’d have zero equity and nothing to build on. Building equity helps you create financial stability!

Contact your local real estate agent today to find out what could work for you and your family.

Sell Your Bradenton Home Before The Winter

November 19th, 2015

Sell Your Bradenton Home Before The Winter

People around the United States are beginning to think about what their life will look like next year. It happens every autumn. We contemplate whether we should relocate to a different region for better weather or maybe move to a new city for better job opportunities.

Homeowners in this situation must consider selling their home or waiting. Here are five critical reasons to sell your Bradenton home now.

1. Demand is High

The latest foot traffic numbers show that buyers are still searching for their dream Bradenton home. These buyers are ready and willing to buy.

As the year goes on, many people have other things, like holidays and poor weather, to distract them from searching for a home. Rope these buyers in while they’re currently active.

2. There Is Currently Less Competition

In many markets around the country, there are not enough homes for sale to satisfy the number of buyers in that market. This is great news for home prices. However, further inventory is about to come to market.

There is a stifled desire for many homeowners to move as they had difficulty selling over the last few years. Since the market is improving, many of these homes will be put up for sale soon.

Also, new construction of single-family homes is beginning to skyrocket.

Since buyers will have more choices in the coming months, you’d benefit by selling now.

3. The Process Will Be Quicker

One of the biggest hurdles of the recent housing market has been the length of time it takes from contract to closing. Banks are requiring extensive paperwork before approving a mortgage. The process is inevitably prolonged during the holiday season. Selling your house before the winter holidays will lead to a smoother transaction.

4. There Will Never Be a Better Time to Move Up

If you are moving to a larger home, now is the best time. Prices are expected to increase by over 18% from now to 2019. You can also currently lock-in your 30-year housing expense with an interest rate below 4%. Rates are expected to rise in the next year.

5. It’s Time to Move On with Your Life

Why are you contemplating selling? Think about whether it’s worth prolonging your move. Is money more important than being near family? Is money more important than your health? Is money more important than having the freedom to have your own space to renovate? Ask yourself these questions, and make your decision. Selling your Bradenton home may be the best decision you have made all year.

How To Move Your Bradenton Home Yourself

November 9th, 2015

How To Move Your Bradenton Home Yourself

Moving requires not only planning but preparation. Professional movers handle this process efficiently and quickly. If you decide not to use professional movers, you need to come up with a good moving strategy that works for you. Here are some top tips to move your Bradenton home on your own!

Moving boxes

Moving boxes is the most convenient, affordable and practical method for moving household items.

You can either order boxes online or buy them from local moving companies. You can also get boxes for free from local businesses or friends.

Cushioning and wrapping materials

To make sure your possessions don’t get damaged during transportation, you need to avoid shifting inside the boxes. You can fix this problem by using packing materials such as bubble wrap, packing paper or packing peanuts.

A dolly or hand cart

A dolly can come in handy especially if you are moving by yourself. A dolly allows you to move multiple boxes at once or if you have a four wheel dolly, you can move furniture and large appliances.

Furniture pads

You’ll need furniture pads if you want to pack larger household items such as appliances and furniture. You will want to pay special attention to the corners and the legs or handles. Make sure you use a lot of packing tape so that it holds the wrapping in place.

Furniture pads also let you move heavy items without denting or scraping the floors. 

Moving straps and ropes

Moving straps are important if you are moving heavy pieces. They can be used to secure items to a dolly and can be easily placed inside the moving truck.

Hand tools

Small tools can be your best friend during your moving process. You will need them for practically everything from disassembling furniture pieces to removing doors from hinges. 

Make sure you have a box cutter, a pair of scissors, a hammer, screwdrivers, a measuring tape and a wrench.

Personal protection gear and property protection materials

On moving day you will want to wear comfortable clothes, sturdy shoes and work gloves for maximum flexibility and protection.

Don’t forget that if you want your security deposit back, you need to prevent damage from happening to your property.

Make sure you use carpet film protectors, corner guards and foam padding to keep everything in the best condition.

A good moving strategy

Flexibility, organizational skills and a focused approach are important when it comes to moving as well as the right tools, equipment and packing supplies.

Make sure you also have enough time so start the moving preparations early! It also doesn’t hurt to create a moving calendar that includes all the tasks you need to do. You will want to sort out your possessions and decide whether you want to sell or donate things that you will no longer need. This will make it easier to make an inventory list of everything you are going to take with you. Always make sure you remain focused through the entire moving process. Try not to make hasty decisions and don’t let the stress get to you and ruin your moving experience.

Helping hands

In order to have a successful move, it’s essential to have the assistance of family and friends. It’s nearly impossible to organize and plan all aspects of the moving process, pack all your belongings and lift and carry all your household items by yourself.

Don’t be afraid to ask some friends or family to help you move and in exchange provide them with some snacks and drinks.

Means of transportation

Lastly, you can’t move without a moving vehicle. Decide whether you’ll have to rent a large or small moving truck to move all of your household items to your new Bradenton home.

Good luck!

What To Buy During The Fall

November 2nd, 2015

What To Buy During The Fall

Now is a great time to save on purchases that are higher priced!


This is an excellent time to lock in your holiday airfare because prices tend to drop from their summertime highs around this time. It’s the perfect time to travel!

You can also save hundreds of dollars on cruises during this time of the year.

The conditions are perfect during this time if Europe is on your bucket list! Hotels are less expensive and airfares are reasonably priced. Also, the U.S. dollar continue to be strong against the Euro so the exchange rate is in your favor.


In the early fall, dealerships tend to roll out special incentives like cash back and low or no interest financing when the new 2016 models hit the lot.

Make sure to do all of your research before you go to a dealership, the better prepared you are, the more you can negotiate.

Car buying sites can also help you come up with some sort of target price on a new car based on what features you’re interested in and where you live.

Grills and patio furniture

Keep in mind that grills get discounted by 50% after Labor Day! Top of the line models can easily cost you over $1,000 so 50% is a pretty good deal. When it becomes October, the discounts can reach 70% off or more but the selection is more limited.

In October and November, patio furniture becomes discounted up to 85%.

Household appliances

Fall is also the best time to buy a lot of household appliances with the exception of refrigerators. This is the time when older models need to be cleared out so that there is room for newer models.

Stoves, washer and dryer sets and dishwashers are also marked down by about 20% during this time. Prices can be cut down to as much as 90% when on clearance!

Sarasota Home Owner Net Worth 45x More Than A Renters

October 29th, 2015

Sarasota Home Owner Net Worth 45x More Than A Renters

A Survey of Consumer Finances conducted by the Federal Reserve every three years is a survey where data is collected across all economic and social groups. The latest data from 2010-2013 reported that a homeowner’s net worth was 36 times greater than that of a renter.

The National Association of Realtors’ (NAR) Chief Economist, Lawrence Yun is predicting that in 2016 the net worth gap will be widening even further (45 times greater).

You can see the results of the last two Federal Reserve studies and Yun’s prediction in the graph below:


Put Your Housing Cost to Work For You

Being a Sarasota home owner is a form of ‘forced savings’. When you make a payment towards your mortgage, you are contributing to your net worth. When you’re renting, you’re contributing to your landlord’s net worth.

According to the latest National Housing Pulse Survey from NAR, 80% of consumers believe that buying a home is a good financial decision.

Bottom Line

If you think you could put your housing cost to work through being a Sarasota Home Owner, contact your local real estate agent today! We are here to help every step along the way with your real estate process. Working with a real estate agent can not only help you to save money, but can make your process that much simpler. If you are looking to becoming a Sarasota Home Owner, now may be the best time than ever to contact us about how we can help you purchase the home of your dreams. With winter approaching, now is definitely the time to buy.

Buying A Sarasota Home is Less Expensive Than Renting

October 22nd, 2015

Buying A Sarasota Home is Less Expensive Than Renting

In the most recent Rent vs. Buy Report from Trulia, they stated that homeownership remains cheaper than renting with a traditional 30-year fixed rate mortgage throughout the 100 largest metro areas in the United States.

The recent numbers show that the range is from an average of 16% in Honolulu (HI) to 55% in Sarasota (FL), and 35% throughout the country.

The other interesting findings in the report include:

  • Interest rates have stayed low and even though Sarasota home prices have increased around the country, they haven’t greatly outpaced rental appreciation.
  • Some markets might favor renting if Sarasota home prices and mortgage rates increase at a greater rate than rents.
  • Nationally, rates would have to rise to 10.6% for renting to be cheaper than buying. Rates haven’t been that high since 1989.  

Bottom Line

Buying a home makes financial sense in all avenues. Rents are predicted to increase markedly in the next year. Lock down your housing cost with a mortgage payment now. If you are looking for a team of real estate experts to help to take your home buying experience to the next level, be sure to call Team Works World Wide Real Estate. We are one of the leading real estate teams in Sarasota and are here to help you with all of your needs. Contact us today to get a free CMA on just how much your home could be worth, or speak with on of our talented real estate agents about what you may be looking for on the market. The market is booming and now is definitely the time to buy and sell!

Why You Should Buy Your Sarasota Home Now

October 15th, 2015

Why You Should Buy Your Sarasota Home Now

Winter is quickly approaching, and so are thoughts of the upcoming holidays, family gatherings, and festivities to bring in the New Year. Those who are hesitant to buy in the current market should check out these four fantastic reasons to consider buying a Sarasota home now.

1. Prices Will Continue to Increase

The Home Price Expectation Survey polls a unique panel of over 100 economists, investment strategists, and housing market analysts. Their most recent report projects appreciation in Sarasota home values over the next five years to be between 10.5% and 25.5%.

Home values will continue to increase in the coming years. It makes more sense to buy now.

2. Mortgage Interest Rates Are Expected to Rise

Although Freddie Mac’s Primary Mortgage Market Survey shows that interest rates for a 30-year mortgage have mellowed recently, most experts predict that they will begin to rise later this year. Many are projecting that rates will be up almost a full percentage point by the end of 2016.

3. Either Way, You Have To Pay

You must pay for housing whether you own or rent. Homeowners pay debt service to pay down their own principal while households that rent pay down the principal of a landlord, plus a rate of return. Because of this, owning usually ends up making more financial sense.

4. It’s Time to Take The Plunge

Look at the real reason you’re buying and decide whether it’s worth waiting. Whether you want to have a safe place to raise your family or you just want to have control over upgrades and renovations, maybe it’s finally time to take the plunge.

Bottom Line

If buying a Sarasota home is the right decision for your family this year, buying sooner rather than later could lead to significant savings. Contact TeamWorks WorldWide Real Estate today for a free CMA on how much your home may be worth or to view properties on the mls immediately.

Why You Should List Your Sarasota Home

October 8th, 2015

Why You Should List Your Sarasota Home

Don’t wait to list your Sarasota home if you’re planning on listing it this year or early next year.

Buyer Demand Continues to Outpace the Supply of Homes For Sale

The National Association of REALTORS’ (NAR) Foot Traffic report states that there are currently more buyers in the market than at any other time in the past three years.

Compared to 2014, there has been a significant increase in foot traffic that has been experienced this year.


According to the latest Existing Home Sales report, there is a 5.2 month supply of homes for sale right now. This is below August 2014 numbers and remains lower than the 6-month supply that is necessary for a normal market.

The year-over-year inventory shortages that have been experienced so far in 2015 are shown below.


Bottom Line

Find out the supply conditions in your neighborhood today by contacting your Sarasota home team, TeamWorks WorldWide Real Estate!

Top 5 Reasons To Use A Sarasota Realtor

October 1st, 2015

Top 5 Reasons To Use A Sarasota Realtor

In the current market, homes are selling fast and prices are rising. Here are several reasons why you should reconsider selling your home on your own as a For Sale by Owner (FSBO) and instead using a Sarasota Realtor.

Here are five reasons:

1. There Are Too Many People to Negotiate With

If you decide to For Sale By Owner, here are some people you will have to prepare to negotiate with.

  • Buyers that want the best deal they can get
  • Buyer’s agent who are there for the best interest of the buyer
  • In some parts of the country, the buyer’s attorney
  • Home inspection companies that will most likely find problems with the house
  • If value is questioned, the appraiser

 2. Exposure to Prospective Purchasers

According to a recent study, 88% of buyers look online for a home while only 21% look at newspaper ads. Most real estate agents know how to strategize to promote the sale of a home. Would you know how to promote the sale of your home? Every Sarasota Realtor has a definite internet plan to help to push your property out to the masses as soon as possible.

3. Results Come from the Internet

Where did buyers look for the home that they purchased?

  • 43% were found on the internet
  • 9% were from a yard sign
  • 1% used the newspaper

Nowadays you have to have have a strong internet strategy when selling your home because the days of putting up a sign or putting it in the newspaper are gone.

4. FSBOing has Become More and More Difficult

As industry disclosures and regulations have become mandatory, the paperwork that is involved in selling or buying a home has severely increased.

5. You Net More Money when Using an Agent

Sometimes, homeowners think that by selling their own home they can save the real estate commission. This is the main reason why buyers look at FSBOs. They think that they also can save the real estate agent’s commission.

According to studies, the typical home sold by the homeowner sells for $208,000 while the same home sold by an agent sells for $235,000. This shows that trying to sell your home on your own might not make that much sense.

Bottom Line

Remember you might want to consider meeting up with a Sarasota Realtor before you decide to sell your home on your own.

Is Renovating An Underwater Bradenton Home Smart?

September 24th, 2015

Is Renovating An Underwater Bradenton Home Smart?

If it seems like you’re going under and you feel the need to sell your home, you may think that all it takes is a renovation in the kitchen or bathroom. Does it make sense to invest money into a home that you owe more on your mortgage than it’s actually worth?

If you’re wondering if you should renovate your Bradenton home that is going underwater, you should take these factors into consideration.

Your Situation

First think about what your home is currently worth. You also want to take into consideration how much the renovations are going to cost you and what your home’s expected value will be after you make improvements.

While some improvements on your Bradenton home could result in an increase in a home’s value, most do not. If there are minor issues that are decreasing your chance of selling your home, they can easily be fixed and will be worth it. Things like overgrown trees in the front yard or paint chipping in the bedrooms can be fixed to increase the chance of your home selling for a more attractive price.

You should be careful though because you may not get as much value from renovations as you expect. For example, one of the lowest return on investments are kitchen remodels. Zillow CEO Spencer Rascoff and Chief Economist Stan Humphries stated that “Every dollar you spend on acquiring a new kitchen only increases the value of your home by fifty cents.”

Your market

You need to think twice about remodeling if you live in a market where prices have decreased so much that not even a renovation could increase your home’s value.

If you live in a market where buyers tend to have higher expectations where renovations are valued, then renovations might be worth it.

Your financial condition

If you have decided to take out a loan to pay for renovations, there are many loan options that are available to you. You will have to think about how much debt you already have and if you can take on the new debt from the renovations. 

Although renovations on an underwater Bradenton home can be risky, make sure you research all the options that are available to you before you make any decisions.