We sold our house earlier this year as our oldest went off to college last fall, and we thought we would try something new. However, we didn’t find a house we wanted to buy quickly enough to make an easy transition. To make lemonade out of a lemon, we decided to try living on a key. Accordingly, we ended up doing an off-season rental of a home on Siesta Key.
Tag: Sarasota
The latest mortgage delinquency statistics show that Hurricane Irma is continuing to disrupt local mortgage repayments this month. Both short-term delinquency rates (30 days late) and more serious delinquencies (90 days plus late) are up year on year. Although we have yet to see a foreclosure spike, it sure still looks like it is coming.
While I focus most of my time on what’s happening in Manatee and Sarasota counties, it’s also important to follow the broader real estate trends. Overall, the real estate market in the United States is seeing significant price increases. Over the past 12 months, average sale prices for homes have risen by 7.0%.
This newly renovated, Morrison-built home in Sarasota, is centrally located in the distinguished neighborhood of Summerwood. The home features new wood laminate flooring throughout and fresh paint in a crisp modern color. The kitchen has been completely redone and features beautiful white cabinetry, granite countertops, stainless steel appliances, an oversized farmers sink and abundant counter space.
The Sarasota and Manatee county markets for condos & townhomes remain disconnected at the luxury end of the spectrum. While buyers have the leverage in condos & townhomes over $600k in Manatee, that isn’t the case in Sarasota. In fact, the more expensive the condo in Sarasota, the more likely the transaction will favor sellers.