Is the Real Estate Market Up or Down?

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Everywhere we go, people want to know, "Is the real estate market up or down? We’ve been asked that question at dinner parties, social events, and even by fellow Realtors outside our market. Well the easiest statistics to follow are easily found on the MLS. The Manatee/Sarasota County Florida multiple listing statistics which includes, Bradenton, Lakewood Ranch, Palmetto, Ellenton, Parrish and Sarasota, shows 9045 single family homes were sold in 2009 as compared to 9986 single family homes in 2010. I would have to say that is an upsurge in sales. Total residential sales … [Read more...]

Have You Hugged a Snow Bird Today?

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The 2011 Florida Snow Bird season has arrived. This annual migration, dating back to the early 1900’s and publicized during the Thomas Edison era has evolved to represent an undeniable impact on our states economy. The Sarasota, Bradenton area of Florida is a very popular destination for folks from many frozen northern states, Canada and other international locations. To the dismay of many locals, the often distracted Snow Bird motorist has typically presented a challenge for impatient drivers and shoppers used to the tropical pace of summer weather. This year, our economy is recovering … [Read more...]

Call for ACTION

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As middle class Americans struggle to maintain relevance during the current “great recession”, new challenges are looming on the horizon. A recent report issued Dec 1 by President Obama’s deficit reduction panel presents a list of proposals to reverse the current trend of our governments operational deficit. Last year saw the national dept rise to an unsustainable $1.3 trillion. The document, titled “The Moment of Truth” urges sweeping changes in government spending and revenue sources. Just as the Bush tax cuts are likely to be extended to protect a weak economic recovery, the … [Read more...]

It’s getting COLD!!!

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Why live in Florida? We recently had a buyer client that was getting an FHA loan. When a borrower gets an FHA mortgage, they can use it for a primary residence only. The mortgage department called our perspective clients and asked them why they were moving to Florida and if this home would be their primary home. They answered the person on the phone; "Have you ever lived through a north state winter?" The person on the other line answered "no". "Well", my client answered, "if you had, you'd would know that that is a ridiculous question." The question is, why would anyone want to live … [Read more...]

Short Sale Timeline

short sale timeline

Obviously the name, short sale, does not denote the amount of time it takes to complete a short sale. We have been assisting sellers with their distressed home sales since they became common on the market from 2007. We have helped over 40 homeowners close on their short sale transactions. From the time that we put a contract together between buyer and seller, the shortest time it has ever taken to get a written short sale approval in hand has been 2 weeks. However, this has been the exception not the rule. In the beginning of 2008, we had a transaction take took 2 years from contract … [Read more...]

New Team Member

Real Estate Team

Avery-Ayers & Associates at RE/MAX Alliance Group, Univeristy office is happy to welcome Leslie Ambrosio to their team as a Buyer’s Specialist. Leslie, recently moved to the Bradenton, Sarasota Florida area from Connecticut. She came down for the wonderful warm weather and to be closer to family. She has over 25 years of experience in the real estate industry and was with RE/MAX in Connecticut. Leslie along with the team's other Buyer’s Specialist Tom Good, both focus on working with the numerous buyer inquiries that the team receives. Marie Avery and Terri Ayers are the team leaders … [Read more...]

Florida’s Amendment 4

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Purposed amendment 4 will be decided in Florida’s state wide election on-November 2, 2010. If passed by Florida voters, amendment 4 will change the process of local land use planning and shift final approval of comprehensive land use decisions from the county commission to a public voting referendum. The originators and supporters of amendment 4, Florida Home Town Democracy Inc. headed by Palm Beach attorney Lesley Blackner has fought for ballot inclusion since 2007 in a controversial initiative effort. Now on the 2010 ballot the proposed constitutional change is in response to … [Read more...]

Florida Taxes

florida taxes

Fla. property taxes not high, not low WASHINGTON – Oct. 4, 2010 – Using 2009 U.S. Census data, the nonprofit Tax Foundation created a state-by-state comparison of property taxes using three criteria: median property tax paid, property tax as percentage of a home’s worth, and property tax as a percentage of median income. In all three comparisons, Florida ranked around the middle, New Jersey came in at No. 1 for most expensive, and Louisiana finished at No. 50. The median property tax paid on a home in Florida was $1,773, which puts the state at No. 23 in the state-by-state … [Read more...]

Short Sales

short sales

Are short sales short? Negotiating a short sale between the seller and their lender takes skill, patience, and expertise. Everyone involved in the transaction needs to know what to expect. 1. The seller's credit rating will be negatively affected after doing a short sale, but not as much as with a foreclosure. We have heard estimates of a drop of 80-100 points off one’s FICO score. That kind of drop is far less damaging than how a foreclosure can affect your credit score. 2. The seller will receive a 1099 for forgiven debt and will owe taxes on the amount on their primary home, up to … [Read more...]