Flipping Foreclosures Becomes New Game

By | April 19, 2011

More investors are finding a sweet spot in flipping foreclosures, but it’s not the same type of house flipping seen during the real estate boom. During the housing boom, investors would take advantage of skyrocketing real estate prices and loose lending regulations by buying a property, remodeling, and then selling it for profit. Today’s flippers are buying at ultra-low prices — mostly in cash deals — and are … Read More! »

Fannie Offers Closing Cost Help for REOs

By | April 15, 2011

Fannie Mae is trying to lure more buyers to its foreclosure properties by offering to cover 3.5 percent in closing costs for home owners who close by June 30 on its HomePath properties. Fannie’s HomePath program provides low down payment financing on REO property sales and has no requirements for mortgage insurance or appraisals. During the fourth quarter of last year, Fannie offered closing cost assistance and was … Read More! »

Sales in the Sarasota Real Estate Market Reach Highest Level in Six Years

By | April 14, 2011

Total property sales in the Sarasota real estate market hit 800 for the month of March 2011 – the highest level since September 2005 when sales started to decline. The other great news in March –  prices rose in double digits for both single family homes and condos from the previous month, pending sales were the highest since the real estate boom ended in 2005, and the inventory … Read More! »

Burns Court Dining

By | April 14, 2011

The Burns Court Historic District has been designated a U.S. historic district since 1984. The district runs from 400 through 446 Burns Court and 418, 426, and 446 South Pineapple Avenue and contains 24 historic buildings. The area is a mix of residential, art and antique galleries, shops, restaurants and the Burns Court Cinema. I had the pleasure of dining at the Retropolitan last week and would highly … Read More! »

Helpful Hints For Short Sale Purchases

By | April 1, 2011

First of all, let me say that short sales have come a long way. There was a time when banks were very hesitant to accept short sale offers and, as such, they were pretty unreasonable about the whole deal (wouldn’t you be, if it was you who was losing millions of dollars to bad debts?) These days, acceptance rates are way up and processing time at the banks … Read More! »

April in Sarasota

By | March 31, 2011

Spring has sprung and the weather couldn’t be better! Get out and enjoy all that Sarasota has to offer. Here’s just a few of the activities happening in the Sarasota area during the month of April: Date Event or Activity Location Click Link forMore Information April 1st SFF Moonlight Movies: Megamind Nokomis Sarasota Film Festival April 2nd 25th Annual Run for the Turtles Siesta Key Mote Marine Aquarium … Read More! »

What’s A Short Sale?

By | March 29, 2011

Once upon a time, short sales were among the rarest of transactions. Houses tended to appreciate (heavily) over time and mortgages used to come with heavy down payments, leading to lots of equity for sellers. People could wait a few years, get a few tax benefits, and then sell for a profit. Not anymore. These days, more and more homes are marketed as short sales (the first step … Read More! »

Gecko’s Trivia Wednesday

By | March 28, 2011

Why haven’t you been to the new Gecko’s on Hillview?   Gecko’s fills a void that Southside Village was lacking: really good food at a really good price.  It feels like Southside Village and not like you’re at a bar in a strip mall (like, um, at the original Gecko’s at the Landings).  It’s really nice in there: loft celings, beautiful rough-edged granite bar and table tops, and plenty … Read More! »

Florida Housing Bucks The National Trend (Again)

By | March 25, 2011

Bucking the national trend (yet again :) ), Florida’s housing market showed rising sales in February and stable housing prices.  This is indicative of where our market has been for the past 2 years. Out here in the trenches, we can attest to the same – the market is really hot right now and buyers are facing stiff competition for the houses that are priced right and in … Read More! »

February ’11 Market Stats: Sales up; Inventory Drops to 6 Year Low in Sarasota Market

By | March 15, 2011

The number of available properties in the Sarasota real estate market dropped to a six-year low in February 2011, and sales were up 24.2 percent from the previous month. Median sales prices for both single and condominiums dropped as bargain hunters continued to grab foreclosures and short sales, which represented almost 47 percent of all sales. Compared to this time last year, sales were up 27 percent to … Read More! »