The 2016 Gulf Coast of Florida Housing Market
The Gulf Coast housing market finished 2016 strong. There was a slow down right before the election, but despite the election slow down the Manatee County median single family home price soared up 7.5% to $285,000 from December 2015. Condo prices in Manatee County also saw a modest gain over last year of 3.8% to bring the median sales price to $185,000. Cash sales equated for less percentage of total sales compared to last year, but still much higher than other counties in Florida as well as the rest of the Nation. Condo cash sales between Manatee and Sarasota counties combined represented 63.1% of total sales down from 66.1%. While cash sales for single family homes in December for both counties compared to December of 2015 dropped from 40.9% to 34.1%. Inventory levels increased this year in both counties. Manatee County month’s supply inventory for Condos and single family homes is hovering around a 4 month supply closer to a balanced market of a 6 month supply.
The 2017 Trump Presidency and Economy
The Trump presidency so far has been good for the economy in the stock market, but with stocks looking optimistic it has slowed Real Estate Sales in the very short term. Interest rates began to shoot up and caused Buyers to see their purchasing power decrease and Mortgage loan applications dropped. Another effect was the U.S. Department of Housing and Urban Development (HUD) which was set to have a premium cut on FHA loans saving the average FHA borrower $500 a year in insurance costs was suspended and does not look like it will be reinstated in the near future. I think these woes will adjust themselves as we move closer to a balanced market. Hopefully a stronger and healthier economy is in the near horizon. This year will still be a seller’s market, but properties will take longer to sell due to higher competition. I expect median home sale prices to rise and inventory levels to also increase. Find out today how much your home has appreciated and how much equity you have built with a FREE Comparative Market Analysis.
Why Manatee County? Why not! The Manatee area provides you the best of all worlds. Centrally located north of Sarasota county and south of St. Petersburg, you can enjoy all the luxuries and amenities that Tampa and St. Pete offer with the ability to leave the big cities behind when you are done. Whether you like the city, country or something in between Manatee County has you covered. Beautiful beaches for those who love the Gulf such as Anna Maria Island, Holmes Beach, Bradenton Beach, and Long Boat key offer some of the best salt life Florida has to offer. As you head east from the Beaches you hit great places for boat activists like the community of Coral Shores with Canals that lead out to the Bay. To the North you find the Luxurious homes of Palma Sola and the greens of Golf courses of the popular west side of Bradenton. Boating and elegance meet in the best boating community of the area: the Inlets. Water front views combined with master crafted homes and some of the largest reserves of mangroves in the state make up this community. Want a more country feel – life by the river may be what you seek. Bright color peacocks and wild life bring this landscape to life in communities like Magnolia Manor, Braden River Lakes and Braden River Ranchettes. Find easy access to St Petersburg from Palmetto from beautifully maintained Deed Restricted Subdivisions of New Homes. Find peace and quiet and Acreage with no deed restrictions or HOAs out in the Country of Myakka City or Parrish. No matter your taste Manatee county has somewhere to call home.
This wealth of all different sorts of people, communities and property is only amplified by the remarkable weather Manatee County enjoys! Sunshine almost all year round brings so many to retire, make their new home, or live here seasonally.
So much to do here from sporting events of St. Petersburg and Tampa including hockey, baseball and football to Busch Gardens, Zoos, aquariums, museums, historical sites, racing at the Bradenton Drag Strip, fishing, hiking, state parks, boating, art galleries, shows, events, great restaurants, golf courses, new malls and plenty of shopping to name a few things you can stay busy with.
“Master the Market with Masters of Real Estate”
There are many options out there for your Real Estate needs, but no one else out there will serve you like we do. Why deal with any old real estate agent when you can have the pleasure of dealing with a Master of Real Estate. Excellence is what we strive for. You are more than just another transaction to us. We hope you will be added to our growing number of clients that have become our friends and extended family.
Above and Beyond the Call of Duty
Our agents have gone above and beyond the call of duty every time they have taken on a new client. From helping tear down a guest house to get a transaction to close, to organizing a garage sale, helping clean up, moving junk to help the seller or the buyer before or after close, making videos for clients buying property who are out of state, giving insights and tips to help clients sell their property out of state, visiting clients at the hospital and just being a friendly voice on the other side of the phone line when you need someone to talk to. This is not in the job description of a real estate agent, but that is the service Masters gives you – that extra mile, helping hand service that comes from trying to be a good steward for you. Our agents have 24 hour access to a seasoned local real estate attorney for any real estate law questions that may arise. Our eye catching listing ads feature descriptive narratives about your home and neighborhood matched with beautiful and artistic photographs putting your property in the best light possible. While at the same time accurately not letting down Buyers with photo shopped views that leave them feeling cheated when they see the home in person. Let us assist you with what we do best from knowing the market, pricing a home to sell fast for the most money, staging, advertising your home, contract language, effective marketing, communication and negotiation skills to guide you through the process. Even in difficult transactions like short sales, we demonstrate how we are Masters of our Trade.
Sorry we are experiencing system issues. Please try again.
In this day and age the fewer recurring monthly payments you have the more money you can keep in your pocket. I look for anyway I can to eliminate that drain on the finances. For example, why go to the gym and pay $60 bucks when I can invest that in buying the equipment outright.
Homeowner Insurance Discounts
Homeowners are required to pay homeowners insurance if they have a mortgage, but there are ways to cut costs with this expense. If the home is well maintained you will receive discounts on the cost. The 4 point inspection and wind mitigation assign certain credits on your policy based on these inspections. After you purchase a home you can help reduce the cost of your homeowners insurance by improvements that make your home safer.
One of the first things Homeowners can put a little money into that will help their insurance premium go down and make their home safer is Wind and Disaster Mitigation. These include: hurricane doors, window shutters and reinforced garage doors. In Florida these are great features for your peace of mind, bring down your premium and save you money in the long run when disaster strikes.
Home Safety Options
Another feature that a lot of homeowners want to help make their home safer is an alarm system. For those of you that only live in Florida during the winter months this is almost a necessity in today’s day and age. This can alert you of fire or a break in and helps deter burglars.
An internal sprinkler system is another modification to make your home safer. Make sure each head is set off only by high temperatures and not smoke so you do not accidentally saturate your home for no reason. Consider if you want heads in just the major living spaces such as living rooms or if you want them even in areas like closets.
Some features you purchase that save money on insurance will take a rather long time to recoup the out lay, but if you are going to be there for a while they are worth it and also are great selling points. Sometimes you will need to have another wind mitigation inspection to get credit or for an alarm system you may need a certificate so talk to your local insurance agent today about what you can do to make your home safer while helping you safe money.
The Current Market in Manatee & Sarasota
The current real estate market in Manatee and Sarasota County is very active. Properties are selling and they are selling fast. Homes that are priced competitively and advertised properly are being sold almost as fast as they are listed. Others are being sold before they are even listed in the Multiple Listing Service (MLS).
In this type of market, timing is a key element when buying a home. I have experienced firsthand with my clients the ups and downs of the home buying process. My clients have made competitive offers only to find out another offer was accepted or the property just went under contract. It is certainly a roller coaster. Yet, I have found that each client will find the right house to meet their specific needs.
Patience & Dedication to Find the Right Home to Purchase
I recently had a client who was extremely disappointed when their offer wasn’t accepted. They almost stopped looking. It took a little longer to find another property they liked. But with their patience and my dedication we found a home that was less money and better suited to their needs.
My advice to any home buyer is to be patient and hire a real estate agent who is willing to put in the effort and time necessary to find the home of your dreams. A good Agent is worth waiting for they will help you save money, time, headaches and steer you into a good investment if you allow them the time necessary.