As you can see form the graph depicted above, we are going to be experiencing a rise in Hispanic Population throughout Sarasota. This will undoubtedly as well increase the need for Sarasota Real Estate from this specific group. With the amount increasing, our area is going to become even more of a melting pot of cultures, allowing for anyone and everything to live in this great state.
With the next few decades upon us, you will see some changes in how Sarasota real estate is marketed, to allow for an even more diversified culture. We are quite excited at these changes in the graphs of the upcoming years as we continue to grow our society in to one that is ecstatic to allow any race, gender or ethnicity in to this magnificent city.
This week marked something we haven’t seen substantially in quite sometime, the mortgage rates actually went up. Sarasota real estate has been plagued with decline rates over the past few weeks in comparison to this summer in which the actual rates sky rocketed to a two year high. Seeing them spark to an eight week high is nothing to worry about, but it worth noting that they are increasing.
The current average for a 30 year fixed mortgage rate is approximately 4.35%, as compared to 4.16% previously. The 15 year rate is not at 3.35%, of which it was happily at 3.27% previously as well. This is the first real time we have seen a substantial increase on Sarasota homes since the government shutdown ended.
“Rates are increasing because there’s a belief that the economy is improving and the Fed will start tapering its monthly bond purchases”, Anthony Sanders, a real estate finance professor stated on this Wednesday. “Economic growth is always a good thing, and the sooner the Fed can start backing out, the better.”
In the past six months alone, applications for home-purchase loans have dwindled down a staggering 17 percent as the rates continually climb from near-record lows back in May. With this increase comes the fact that contracts to purchase homes have actually dropped the most in a little over three years this September, partly from the over four percent rates. Sarasota real estate is still thriving though with new homes coming to the market daily.
Sellers are still able to get an amazing deal for their home as Sarasota home prices rise each day. The buyers are in surplus and the inventory is unfortunately still lagging behind, but this just enables the sellers to have even more inquiries for their home than before. Look for this to change a little in 2014 though as the housing market is set to recover even more with sellers coming from every where to join in on the higher priced properties.
Over the previous few years, it has been quite evident that the Sarasota real estate market has had it’s fair share of ups and downs. With the amount of foreclosures and short sales slowly dwindling down from their drastic beginning in 2007/2008, it would have been very wise to bet that owning homes in Sarasota would not have been considered the American Dream in 2013. That was the consensus until the statistics actually showed up.
Back in September, it was reported by the Joint Center of Housing Studies at Harvard University that “The long term cultural preference for owning seems to have weathered the recent housing crisis.” In simple terms, this basically states that the want and need of owning a home is still on the forefront of the minds of American’s across the nation. Sarasota homes for sale have seen a drastic increase in the recent year due mainly to this idea that owning a home is something everyone must do during their lifetime. In every book, television show, movie, etc. there is always the picture perfect family that lives in a home. Look to pop culture and you will always see the exact same thing.
Fast forward to present day November, and Fannie Mae released even more information about the American Dream from their National Housing Survey of Delinquent Mortgage Borrowers. Here is what was found from the surveying:
74% still see home ownership as better than renting when building up wealth
71% still see home ownership as better than renting when saving for retirement
73% still see home ownership as better than renting for overall financial stability
80% still see home ownership as better than renting as an investment plan
70% still see home ownership as better than renting for creating an overall tax strategy
Building up wealth, saving for retirement, financial stability, investment planning and overall tax strategies are just the tip of the iceberg of the benefits of owning your own Sarasota real estate. Look to Team Works Real Estate to help you find your next property, while selling your current home for what it truly is worth.
Holmes Beach real estate is hot right now and it is just going to keep getting better! Walk in to this dream home and you’ll be completely taken a back by all of the upgrades, amenities and scenic views. Just a stones through away from the beach, this home has it all. Enjoy your three bedroom, three bath palace and enjoy life the way it was meant to lived.
Stop by and let Team Works Real Estate show you the property of your dream in Sarasota, Bradenton, Palmetto, Holmes Beach and more! Our team of experienced real estate agents, administrative assistants, and aggressive marketers are here to help sell your property in the best way possible.
From the chart above, it seems that single women are looking to own a piece of real estate a little bit more than the single male. The reasons why this is true could be anything and everything. Maybe they like the idea of owning their dream home? Maybe the market is in a nice place right now where they can afford the Sarasota real estate they have wanted for awhile? Or maybe they see the opportunity to live the American dream and own a home that can in fact make them money in the near future through positive equity?
All of these seem like answers that only the ladies purchasing the homes could tell us. What we do know from looking at the numbers though is that women are coming in droves to purchase real estate, with or with out someone else. In every category listed, women seem to out number men on the statistics by a large margin. The 8% difference of new home buyers purchasing their first real estate in Sarasota by themselves is quite staggering. Almost one fourth of the females who purchased recently were single and looking to own their own house. Whereas, only 15% were men doing this for the first time.
Living alone and owning a home is still showing a 9% increase for women in comparison to men. Maybe women just like to be able to have a place where they can do whatever they wish and call it “their own”. The difference of almost 1/10th definitely shows that it does not phase women one bit to get what they want by themselves. No matter how you look at it though, women are coming to purchase Sarasota real estate, with or with out a partner. The more we look at these stats, the happier we get. It seems that no matter what place in your life you are at currently, you can own a home regardless of being in a committed relationship or not. Homes are not just for families with white picket fences and dogs anymore. Any one can get a home whenever they wish to move and these stats are just showing we are taking a positive step to get what we want in 2013.
Social Media giant and hashtag creator, Twitter, has been linked with the idea of looking to increase their commercial real estate up to a potential space with an additional 300,000 square feet. With the increase in active users, advertisers and daily tweets, this expansion just looks like one of many over the next few years for the 140 character inventor. Now with investors, a net worth over $9 billion, that’s right billion, Twitter is growing at a pace similar to Facebook with no signs of stopping. People want to be active online with friends and family. We want to share our daily updates with those that we care about and this is one of the biggest places to do it.
The current commercial real estate discussions suggest an extremely aggressive growth plan: The space would potentially double Twitter’s existing office space and could roughly accommodate for an amount more than 2,000 additional employees. This would double the work load as well as their current office holds only 2,000 current employees, their amount at this moment. All of this of course is partly from the fact that they will be going public in the future to a more than staggering amount per share.
Much like Facebook, we can expect some pretty high shares coming out of the New York Stock Exchange with Twitter is officially announced in the next few weeks. With close to 550,000,000 users on Twitter as of today, it’s obvious that this amount of commercial real estate space may not be enough for the ever growing social company. With a new deal with Comcast Cable that will allow users to change the tv via their Twitter app on their phone, we will be seeing a lot more of this company in the near future.
For the time being though, their possible 400,000 square foot lease right now does not seem to hold enough space for the second largest social media company to stay put. An expansion is coming and the sooner the better. As they start to build out more, they are setting the tone for social media start ups looking to increase revenue, business and overall production with commercial real estate space. Who knows, maybe they will move out to Sarasota as well to get employees on both ends of the coast.
All we know is that this purchase will go down in history as the day that Twitter expanded exponentially. Just like Twitter, Sarasota commercial real estate is also hot right now and is climbing just as fast. To get a glimpse of where you can have your next business, check out Team Works Real Estate for even more news on the changing commercial real estate market.
The image really says it all, but we definitely want to go in to more detail on why a realtor is essential to closing your homes sale. Over the past few decades of working as a dedicated real estate team in Sarasota, we have seen our fair share of crazy market occurrences including the drastic increase in prices and buyers in the past year. With that being said though, real estate agents bring a wealth of knowledge that many for sale by owners in Sarasota can not. You need a professional working with you daily, and the more that you think about it, your time is very valuable. A realtor will provide all of this and more to you when you need it the most.
Nobody likes to hear the word paperwork and we agree with them. It can be daunting, time consuming and down right frustrating at times. Paperwork is a crucial part to the real estate transaction and can take many hours to complete. Better yet, sometimes the documents that you think you may need actually aren’t needed after all! Hiring a Sarasota real estate agent can reduce all paperwork generated leaving you the option to just sit back and relax as the documents come ready to be signed.
It has been stated that they is approximately 180+ typical actions that each real estate agent must endure through research, procedures, process and review just to receive that commission. Saving this time and headache can be a sigh of relief to a typical for sale by owner for the small 3% that real estate agents receive. If these 180 tasks are not completed, that means that you are looking at having a not so smooth closing. Don’t let that happen.
Sarasota Real Estate is synonymous with the word negotiation. When you are looking at selling your home, there will be offers. Some will be great and some will make you want to think “what?”. Negotiations occur daily for realtors and we are constantly working to get the most out of your property for sale as well as the least for you to buy. These typical negotiations don’t just stop at price points either. They also extend in to other areas including furniture, mortgage rates, appliances, loans, etc.
A successful real estate agent is also a great teacher. We know what is going on at all time and know what may happen next to the market. This information is very critical as the media tends to blow certain aspects out of proportion. When working with Team Works Real Estate you are assured that you will get this information correct the first time and more than likely before it even hits the newsstands.
Team Works Real Estate is the premier real estate company of Sarasota, FL. With multiple experienced real estate agents, administrative assistants and aggressive marketers, we are on the cutting edge of real estate technology and strive ourselves to beat our previous goals daily. Contact us today for more information on how we can help sell your home!
Believe it or not, 2014 is creeping around the corner and it looks like the National real estate prices are set to continue to rise in to this next year. With an increase from $267,000 to $281,000 for new homes and $196,000 to $207,000 for existing homes, it is plain to see that Sarasota real estate equity is on the rise and will keep that trend going towards the future.
Now we must put in to perspective that these are figures for the median price range of what we can expect. Obviously some homes could only increase by 5%, where another property could actually see 20% increase in the first year. The main part that we want to specify though is that it will increase. Sellers beware though, this does not mean that sitting on that Sarasota real estate for a few more years will yearn you the return that you always dreamed of.
Sarasota real estate is set to increase year over year with our current economy making drastic steps to get back to where it was previous to 2008 and, more than likely, make substantial steps to beat that current pace. Sarasota homes are in the perfect spot to receive a boost from not only the nation economy, but our local and statewide economy as well. Recently, it was noted that unemployment dropped again to another record low for the year as well as stating that the average household income had risen once more. This is a great sign of things to come for our real estate future.
Right now, inventory is low, buyers are high and prices are rising. When you factor this all together you have the perfect storm for a sellers market. While most people are thoroughly looking forward to higher prices in the future, it makes more sense to sell now with less inventory to stop you from receiving the most amount of offers for your property. Even though we have made it to the light at the end of the tunnel, there is still plenty of light to come in the future weeks, months and years. Gather that extra home equity now with limited competition before the influx of listings comes running forward in the next few months and years.