The wonders of downtown Sarasota

Downtown Sarasota might be old hat to many of you.

We recently opened a new office off of S. Orange Avenue and I have rediscovered the joy of walking.

The Burns Court Theatre is around the corner. Marina Jack is a couple of blocks away.

Just about every type of restaurant you can imagine is a couple of blocks away.

A farmer's market on the weekend that never ceases to amaze me.

People walking their dogs everywhere.

Nightlife.

Live theatre nearby.

There is a positive energy flowing through the area.

You can hear languages from around the world as you walk along the downtown streets.

This isn't an area where you feel like the glass is half empty, this an area where you feel it is more than half full and rising.

All the best
Greg Owens P.A.
Realtor
Keller Williams On the Water
941.932.6343
greg@teamworksfla.com
www.teamworksfla.com

The rent alternative

So you can't sell your home in Manatee or Sarasota without taking a big unaffordable loss.

You don't want to short sell your house because you need your credit rating to stay intact.

Think about renting out your home.

No, you don't have to do the hands on work. There are a number of reputable property management companies in the area who can make it hassle free and they are looking for homes.

Three bedroom, two bathroom homes are a very popular rental item right now.

You may not make money on the rental, you may break even or take a slight loss every month.

But if you can afford to ride out the downtown in our housing market by renting out your home why not take advantage of that market.

All the best
Greg Owens P.A.
Realtor
Keller Williams On the Water
941.932.6343
greg@teamworksfla.com
www.teamworksfla.com

Selling price

Enough about short sales and foreclosures lets talk equity sellers.

In Manatee and Sarasota counties there are still close to 50 percent of homes being sold that are not distress sales.

The key to any of this is not marketing, not incentives, it is price. It is all about price.

Buyers are arriving daily in our area and they are looking for the bargains they keep reading and hearin about in the media.

For equity sellers, those who own their home outright are who owe less than than the market value, there are a couple of key items to look at.

One of the most recent economic reports for our region shows that homeowners on average have lost about nine years of equity in their homes.

That should give you a good idea of a starting point of where your home should be priced.

If their are a lot of foreclosures and short sales in your area they are your competition.

The distress homes may look a bit less desirable but think of this if you are for example 20 percent higher in asking price than the distress sales, a buyer can do a lot of renovating and cleaning for the price difference.

You are not giving it away. The market dictates what homes are worth and what buyers are willing to pay is what the market is all about.

All the best
Greg Owens P.A.
Realtor
Keller Williams On the Water
941.932.6343
greg@teamworksfla.com
www.teamworksfla.com

Rising market confidence

If you are wondering where the sign is that the real estate market in Sarasota and Manatee is starting to recover look no farther than the builders.

The smoke from the builders who lost in the downturn is starting to clear.

And incoming are builders who are snapping up the best values. They can now build houses again at pre boom prices do to land values being so inexpensive.

In some cases we are talking well under $100 per sq. ft. including the lot and yes we are talking a nice home with many upgrades.

Add to that the building time can be as little as three months and that builders are again building spec homes.

The builders are back.

All the best
Greg Owens P.A.
Keller Williams On the Water
941.932.6343
greg@teamworksfla.com
www.teamworksfla.com

Dropping foreclosures

The local media for Manatee and Sarasota counties recently reported a 50 percent drop in foreclosure filings in the area in December.

Apparently the lending institutions are starting to latch on to the idea of allowing short sales, selling your home for less than you owe the lender/lenders, than actually going through the lengthy and costly process of foreclosure.

If this trend continues it will be great for real estate in our area.

Some of the benefits are fewer abandoned homes that quickly fall in to disrepair while awaiting foreclosure.

More homeowners able to work out debt foregiveness rather than having a foreclosure hanging over their heads for possibly 20 years.

The potential for speeding up the process to get us out of the housing downturn.

The quicker we get the short sales and foreclosures off the market the sooner prices will start to rise again.

All the best
Greg Owens P.A.
Realtor
Keller Williams On the Water
941.932.6343
greg@teamworksfla.com
www.teamworksfla.com

Oh Canada!

If you are wondering who is buying Florida real estate you need not look any farther than our compatriots north of the border.

They are coming by air, land and sea.

The Canadian dollar is pretty much par with the U.S. dollar and our housing prices are less than half the average home price in Canada.

Add to that a number of Canadian banks have now bought up Florida regional through out the state and we are getting close to the perfect mix.

The Canadians we are talking to are looking for bargains of course but they are buying again and again.

All the best
Greg Owens P.A.
Realtor
Keller Williams On the Water
941.932.6343
greg@teamworksfla.com
www.teamworksfla.com