People are attracted to the Sarasota real estate market and the surrounding area because of white sandy beaches, the diverse cultural attractions and one of the best quality of life communities in Florida. Siesta Key and Clearwater Beach are often ranked as one of the best beaches in the country and living here puts them just about in your backyard!
The Sarasota real estate market and the surrounding areas remain strong. Since the crash of 2008, the increase in pricing is on much stronger footing than the prior run-up. The difference? The price explosions from 2004-2007 were mostly fueled by loans made by the mortgage industry that allowed for purchasing with little or no money down and little (if any) qualification standards. From about 2011 when the market started to turn, the number of all cash sales exceeded the financed sales and through 2018, the number of cash sales compared to financed sales are almost even. In other words, about half all sales are cash. In the event there is a hiccup, people won't walk away like they did in 2007. This is a much more solid market and they aren't making any new waterfront property.
With these thoughts in mind we have prepared a brief Home Buyers Guide. Each real estate transaction is unique so there is no way we can incorporate decades of experience into a written guide. Our objective is to provide an overview of the home buying process and related costs. There are also issues you should know about before you begin buying the various types of distressed properties.
Our guide contains how to go about finding a home, real estate finance, organizing yourself when seeing real estate, making and negotiating an offer, what to do once you are under contract, different types of inspections, Florida homeowners insurance issues, buyer side closing costs, title insurance, and what to expect the prior to and at closing. We also touch on the best approach and pitfalls you may encounter when buying a new home, a foreclosure, a short sale, or a Florida condominium.
This guide is not a substitute for having a seasoned real estate professional working for you on your behalf. Our team members are specialists in the area and have the know how to find your the right home. There are too many variables to cover in a simple guide. Our guide’s intention is to provide you some basic information and a starting point to help you understand the process of buying a home with the least amount of stress.
We hope you call on us when you’re ready to buy. Enjoy the guide and we welcome your suggestions and comments.