Bradenton Florida Real Estate News

Saturday, December 30, 2006

97 Ways to make your home sell faster

Experience shows that this is the season for the serious homebuyer. And with so many listings for that buyer to look at, the successful seller will be the one whose house stands out in the crowd.

In the trade, this is known as "curb appeal." How a house looks from the street, the National Association of Realtors says, is often enough to bring a prospective buyer in for a look.

We have a special report/checklist that we provide to all of our listing clients entitled, "97 Ways to Make Your Home Sell Faster." This checklist contains suggestions for creating great curb appeal and showcasing the home.

I would be happy to send you a free email copy. Just send your request to blog@premierteam.com

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Bradenton Real Estate

Friday, December 29, 2006

Positive signs in the Bradenton - Sarasota housing market

Today's local paper ran this front page headline: "Local market sees slight rise in home sales".

This is the first positive article about our local housing market this year. I believe you can look for more positive articles in the future.

On the national level, the housing market has turned the corner and shown improving numbers for the last three months. Since our local market was the hottest market in the nation in 2005 we will lag that overall improvement by a few months.

My own study of our Bradenton - Sarasota multiple listing service shows a 2.75 percent increase in November sales over October. Since December is a normally slow month, the December numbers may not be very significant. By the end of the spring the stabilization of the housing market will be undeniable and the local media will be forced to print positive articles. 2007 will show the end of our local housing market decline.

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Bradenton Real Estate

Wednesday, December 27, 2006

How bad will the 2007 housing market be?

This chart shows a forecast for the 2007 real estate market.

I just read this article:

"Americans are increasingly nervous about the real estate market in 2007. They have good reason to be. But the news isn't all bad: Interest rates will remain at historically low levels, homebuyers will see more opportunities, and, best of all, for those planning for the long term, 2009 could be primed for a comeback.

"To gauge what the next 12 months might look like, though, BusinessWeek.com asked economists at leading real estate research firms to provide their outlooks for the housing market in 2007.

"The less-than-festive consensus: Home prices will continue to fall in some markets, and the rate of price appreciation will slow in most places. Declines in homes sales, which directly influence price trends, will set the stage for another year of price decreases in 2008. Foreclosures will continue to increase. For those struggling to hold onto their homes, their net worth will shrink as these homes lose value. Long-term mortgage rates will rise. Housing starts will see double-digit depreciation, the sharpest decline since 1991, the worst year for housing starts on record.

"Grim as that might sound, there are some bright spots. Nationwide, home prices will be flat to up slightly in 2007, with many large markets seeing small increases. While new home sales will be down for the year, existing home sales will also be flat. And housing starts won't see as sharp a decline as they did in the early '90s or early '80s....(Continue at http://tinyurl.com/y4ljwn )

Here in the Bradenton - Sarasota , Florida market we are still forecasting things to get worse before they get better. However, we are encouraging buyers to act now! Don't wait in an attempt to time the market. There are fantastic bargains out there and mortgage rates are at historical lows.

Friday, December 22, 2006

Merry Christmas from Premier Team


Merry Christmast to all from Premier Team
Dan Forbes
Marie Avery
Lee Forbes
Jean Trousdale

Thursday, December 21, 2006

Mortgage Insurance now deductible

Congress has passed a bill making MI premium payments deductible for homeowners with adjusted an gross income of less than $100,000.00* (for new originations beginning January 1, 2007). *100% of MI premiums can be deducted for borrowers with adjusted gross incomes of $100,000.00 or less. For borrowers with adjusted gross incomes between $100,001.00 and $110,000.00, deductions are phased out at 10% increments.

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Bradenton Real Estate

Monday, December 18, 2006

6 tips when negotiating a home purchase

I just read an article about 6 things to keep in mind when writing a purchase offer on your next home.

  1. Negotiated with serious homesellers. A seller that must sell is more flexible than one who only wants to sell.
  2. Discover why the seller is selling. This will reveal their motiviation.
  3. Find out what the seller paid for the home. This will tell you something about their equity position.
  4. Ask if the seller has had a home inspection completed.
  5. Find out if the seller has a deadline. Maybe they are building a new home of have a job transfer.
  6. Ask your Realtor to prepare a CMA. What are other homes in the neighborhood selling for.

These are good things to keep in mind and your Realtor should be happy to help you find out the answer to these questions.

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Bradenton Real Estate

Friday, December 15, 2006

Advice for selling in today's market

Realtors and other market experts advise taking these steps to sell a house or condominium:

  • Price the home realistically. Remember, what was realistic two or three years ago isn't realistic today. That's especially true of higher-priced homes.
  • Clean the house thoroughly before each showing.
  • Fix all the little problems you've been putting off.
  • Be willing to bargain.
  • Offer some concessions to buyers. Common ones include paying part of the closing costs, or paying a moving or decorating allowance.
  • Be patient.

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Bradenton Real Estate

Wednesday, December 13, 2006

Price cuts will help home sales in 2007

Most housing markets experiencing slowdowns aren't facing fundamental economic problems like job losses and out migration and will see prices correct, rather than collapse, in 2007.

That was the outlook of housing experts who participated in a conference call discussion Monday, "Housing Forecast 2007: Inside the Crystal Ball," moderated by Inman News publisher Bradley Inman.

Barring an unforeseen jolt to consumer confidence or a sudden rise in interest rates, panelists predicted that nationwide, the volume of home sales in 2007 will be similar to or slightly below 2006 levels. But in order for that to happen, prices will have to come down in areas that saw rapid appreciation during the boom years.

A "good solid price correction will bring buyers back into the market," David Lereah, chief economist for the National Association of Realtors, said. The economy, although not "robust," continues to grow, he said, and a combination of wage gains and price drops will "make affordability better in many areas of the country."

Although 75 percent of the country will "probably be in expansion mode" in '07, Lereah said, "the real big boom markets will have a prolonged correction ... (and) it's anybody's guess how far prices have to drop to get that correction."

Lereah predicted home sales will hold at 6.4 million in 2007, down slightly from 6.46 million in 2006 and 7.07 million in 2005. A 50-basis-point increase in interest rates in 2006 might have put a deeper dent in sales, he said."

I'm breathing a sigh of relief," NAR's top economist said of indications that sales may have bottomed out. "

Here in our Bradenton - Sarasota market the median sale price is 22 percent lower than one year ago. Sellers who are willing to cut their price are having good success.
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Bradenton Real Estate

Friday, December 08, 2006

Market Condtions Report - Bradenton, Florida

Premier Team’s
Market Conditions Report Summary – Nov 06

(from our study of the Gulf Coast Regional Multiple Listing Service)

Statistics for Single Family Homes:
Total Single Family Home Listings: 4237 - Up 102% over last year.
Total Solds: 181 - Down 21.6% year to year
Median Sales Price: $270,000 – Down 17.4% from last year and down 22.8% from 2005 high
Absorption Rate: 10.6 months. This is how long it would take to sell all of today's listings at the rate homes are selling and if no other homes were listed.
Average Days on Market: 92 - Up 142% over last year

Statistics for Condos:
Total Condo Listings: 1940 – Up 157% over last year.
Total Solds: 42 – Down 49.4% year to year
Median Sales Price: $163,000 – Down 32% from last year and down 31.3% from 2005 high
Absorption Rate: 12.3 months
Average Days on Market: 82 – Up 115%

Summary: Good news and bad news
Last month we report the first good news in our market with a decreasing absorption rate. Well, the rate ticked up slightly in November, but price reductions were down significantly. The median sales price is now that same as it was in January of 2005.

The total inventory of single family homes rose slightly and the trend indicates that things will get worse before the get better. However, on the national scene there are signs of improvement If the trend continues we could see our market bottoming out sometime in 2007.

The condo market is hardest hit with a 31% price depreciation from the high median sale price of 2005. Worst of all is the 12.3 month supply of condos for sale. There is no good news in the condo market. It’s is going to take a long while for the condo market to stabilize and start showing any gain.

We are selling homes and working with buyers. We have been blessed this year with the large portion of our business coming from repeat clients and referrals. Buyers have great opportunities and sellers are still doing well, provided they have owned their home for two years or more. Keep the vision, keep the faith, and stay positive!

-Dan Forbes & Marie Avery
Premier Team Inc., Realtors
Bradenton Real Estate

Thursday, December 07, 2006

This week's club meeting, Dec. 8th

Don't miss this week's meeting of the Bradenton Real Estate Club on Friday, December 8th at 11:45 a.m. (see details below)

This weeks topic: Marketing Your Real Estate Investment Business. Vendor member Molly Brockhoff of U2canprint.com will share with us. Also, bring your best ideas and questions.

As always, your input and ideas are welcome.
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BRADENTON REAL ESTATE CLUB
WHEN: Every Friday, 11:45 - 12:15 Order and enjoy lunch. 12:15 - 1:15 Discussion/Presentation

WHERE: Stoneybrook Clubhouse in Heritage Harbour, 7515 Grand Harbour Parkway, Bradenton, Florida 34212. (I-75 Exit 220, go one mile East on State Road 64 to entrance).

WHAT: This is a round-table luncheon and discussion of real estate topics and trends open to the general public, investors, landlords, owners, renters, buyers, and sellers.

INFO: For information call Dan Forbes at 941-746-0505 or visit our web site at http://www.BradentonRealEstateClub.com

I hope to see you there!

Monday, December 04, 2006

Dog houses







You've got to see this. Doggie Mansions, a company in West Palm Beach builds designer doghouses priced from $10,500 to $100,000.


The mansions take two to four weeks to build, and can be shipped around the world.

The company's Web site, http://www.doggiemansions.com includes doghouse listings.

More optimism for the housing market

A growing number of analysts are beginning to hint that the country’s housing slump may be over, pointing to a rebound in home builder stocks and declining mortgage reasons as proof.

Indeed, builder stocks rallied sharply on Nov. 30 following an analyst’s upgrade, while Freddie Mac confirms that the average interest on a 30-year fixed mortgage slipped to 6.14 percent this past week.

Office of Federal Housing Enterprise Oversight (OFHEO) Chief Economist Patrick Lawler reports, “The transition from sizzling markets to normal or weak markets has been orderly so far, and recent drops in interest rates lessen the likelihood that precipitous changes will occur.”

Still, there is no denying that the U.S. residential property sector is still soft compared with the previous three years, with several once-sizzling markets still vulnerable to continued sales and home-price declines.

Source: Los Angeles Times (12/01/06) Haddad, Annette
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Bradenton Real Estate

Friday, December 01, 2006

5 Ways to improve curb appeal on the cheap

Curb appeal is important. When the outside turns off buyers, they may never bother to look at the inside of a home.

An investment of as little as a few hundred dollars can make a huge difference in the appearance of an exterior. Here are some simple but effective suggestions:

  • Wash the windows and replace any cracked or broken ones.
  • Put a fresh coat of paint on siding, downspouts, and doors.
  • Fill cracks in the driveway and walks.
  • Trim bushes to below window height. Edge the lawn.
  • Fertilize the lawn and plant blooming flowers.
  • Put potted plants in strategic places.

    Source: Chicago Tribune (11/27/06)

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Bradenton Real Estate