Finding your next home locally can be challenging. When you add hundreds or even thousands of miles to the equation, it becomes significantly more complicated. Though long-distance house hunting has its unique challenges, it is not impossible. In fact, we help people with it every day, and with modern technology, it has never been easier to buy a house remotely. Here are a few critical factors to keep in mind when you find yourself in a home search from afar.
The local market for condos and townhomes is continuing its shift, although not necessary how you would expect during the Pandemic. When compared to last year at this time, the market favors seller’s for price points below $400,000 in Sarasota County. Above $400,000, the market favors buyer’s in Sarasota County when compared to last year. We saw the entire market other than price points from $600,000 to $999,999 favor buyers more in Manatee County than they did last year.
A comparative market analysis (or “CMA”) is a report prepared by a real estate agent to help a client determine the value of a home. The report analyzes recently sold properties that are similar to the home in question.
You would not know it by driving through much of Lakewood Ranch, but the weakest link in the housing market is new construction according to the National Association of Realtors (NAR). Due to the Pandemic, there are still many homebuilders that are being conservative by staying on the sidelines.
Whether you are looking to buy, sell or invest in real estate, it is important to understand market conditions. Real estate is hyper-local, with market dynamics changing from subdivision to subdivision. However, county trends generally give you a good idea of what to expect.
