Bradenton Florida Real Estate News

Friday, April 27, 2007

Send a message to Florida Legislators: "Lower property taxes!"

Florida Legislative Update on the Property Tax Issue

April 26 • 10:30 P.M.
Tie breaker? With the Florida House and Senate at an impasse over the best way to provide immediate property tax relief to thousands of Florida homeowners, Gov. Charlie Crist today announced a plan he considers a reasonable compromise. His four-part program includes rolling back local property taxes for 2003 levels, with an allowance for inflation and population growth; doubling the homestead exemption to $50,000; Save Our Homes portability; a 25% property tax exemption for first-time homebuyers; and a $25,000 exemption in taxes for business equipment and other tangible personal property for businesses.

“This plan would provide immediate relief to both those who are barred from the American dream of owning their first home and those current homeowners who feel unable to move and trapped by skyrocketing property taxes,”

Governor Crist said in a press conference this afternoon. “By providing immediate relief now along with a plan for future reductions, we can reverse the trend of high property taxes and make living in Florida more affordable.”

Tell lawmakers what property tax reform legislation means to you. With the 60 day session scheduled to conclude next week, legislators need to hear that comprehensive property tax reform for commercial and residential real estate is needed NOW, during the regular session.

The House continues to push for a property tax/sales tax swap but the idea is flatly opposed in the Senate. Governor Charlie Crist recently indicated he does not support a sales tax increase, but wants more relief than what the Senate proposes.

April 25 • 10:30
Try again tomorrow. The Senate came back to the property tax reform conference committee tonight with a new offer: they’ll agree to roll back property rates to 2000-01 levels, but no deal on replacing property taxes on homestead properties with a higher state sales tax. House conferees weren’t impressed and asked the Senate for a “formal” offer. And so it goes.

Check in tomorrow for the latest in the ongoing search for meaningful property tax reform.

April 25 • 3:30 P.M.
No deal. The House and Senate remain at odds over the best way to deliver “doable” and meaningful property tax relief to Floridians. After a raucous conference committee meeting yesterday, each chamber met separately this morning to try to patch together a compromise. FAR lobbyists report little progress after either meeting. House is holding firm on its plan to abolish property taxes on primary homes in favor of a higher sales tax. The Senate wants to roll back property taxes to 2005-06 levels, double the $25,000 homestead exemption for first-time buyers and allow homeowners to transfer a portion of savings they accrue under the Save Our Homes amendment when they buy a new home. The House and Senate Conference Committee meets again at 6 pm.

====================
Find your Senator or Representative and send a message:
www.FLSenate.gov and www.MyFloridaHouse.gov Tell them we want a roll back in property taxes to 2001 levels, increase the sales tax and eliminate property tax, set limits on local and state spending. MORE property tax relief than currently being discussed! Send a fax! Send an email!

===================
Bradenton Real Estate

Labels: ,

Thursday, April 26, 2007

Home sales jump 16%




Today's Bradenton Herald began a story about increasing home sales this way...



"MANATEE --While most of the nation saw significant drops in the number of homes sold in March compared to a year ago, sales in Bradenton-Sarasota increased 16 percent.The National Association of Realtors reported that unseasonably bad winter weather and the tightening purse strings of banks and other lenders throughout the country further hindered a market many hoped was on its way to recovery.



"Statewide, the market saw a 28 percent drop in the number of single-family home sales, and the median price dropped 4 percent. Locally, single-family home prices fell 9 percent to $291,500, but Manatee-Sarasota proved to be one of only two markets in the state that experienced an increase in sales compared to March 2006."



My own study of the Gulf Coast Multiple Listing Service which serves primarily the Bradenton ( Manatee ) , Florida market shows a 20.9% increase in sales in March over February for residential properties. Condo sales increase 32.5%.



That's good news and further evidence that our local real estate market has bottomed out and better days are ahead.


===================


Bradenton Real Estate

Labels: , ,

Monday, April 23, 2007

84% of sellers just don't get it...prices are down


As many as 84% of home-sellers just don't get that prices are down. I see expired listings every day that may be as much as $100,000 overpriced in the $500,000 - $600,000 price range. But it's true for all price ranges.


Sellers wonder why their home has been on the market for months and months. Some have gone through several Realtors. Those recently entering the market wonder why there are so few showings and no offers. I've got the answer: IT'S PRICE!


I have two of my own investment properties under contract. One sold in less than 2 weeks. Why? Because I priced both the homes to be the obvious "best value". My team and I have sold 29 homes this year, because we are able to help our sellers select the best price and then our marketing plan takes care of the rest.


Here's and article about seller's thoughts:


Eighty-four percent of U.S. residents say home values will hold steady or increase, despite trends to the contrary, a nationwide poll published in the Los Angeles Times found.


Nearly a third of those surveyed this month predicted home values in their local markets would rise in the next six months, a Los Angeles Times/Bloomberg poll said. Only sixteen percent anticipated a decrease. The rest said values would hold steady.


The belief that home values will increase in the short term is missguided according to many industry experts.


"Mortgage credit is clearly tightening, affordability is not good and there are a record number of unoccupied homes for sale," said Scott Simon, a mortgage-bond fund manager for Pacific Investment Management Co. in Newport Beach, said in an interview with a Los Angeles Times reporter. "We think prices should be down a few percent this year and, if we are wrong, it will be worse than that."


Recently, the National Association of Realtors (NAR) reported home prices fell 2.7 percent in 2006's last three months.


NAR forecasted just this week that existing-home prices would probably slip an average 0.7 percent this year.


Sixty percent of the poll respondents also said a recession was somewhat or very likely within the next year.


Source: National Realty News

======================

Bradenton Real Estate

Labels: ,

Friday, April 20, 2007

When loan approvals turn sour


Well it happened again!


This week a transaction failed to close because the buyer's loan was rejected. But wait, we had been presented a letter with the offer stating the Buyer was APPROVED for financing.


The letter was generated by the real estate agent working for the buyer. He also works as a mortgage broker.


When I inquired as to why the Buyer's loan was rejected I was told it was because the buyer has been self-employed less than 2 years. The loan program requires more than two years.


So, how is it we get to within a few days of closing, with a loan-approval letter in the file, and it is just now discovered that he's self-employed less than two years. Good grief! Wasn't that question asked during the pre-qualification questioning? Wasn't that information on the written loan application?


Did the agent/mortgage broker generate the approval letter fraudulently in order to put the deal together? Or, is he just incompetent?


It's too bad that only one who suffers is the seller, who has taken his home off the market all this time. It's too bad there are no penalties incurred by whomoever dropped the ball!


This is the nature of today's real estate market. Marginal buyers are about the only buyers out there. Desperate real estate agents and desperate mortgage brokers try to make the buyer look good in order to get the deal executed. Then they hope and pray they can get the buyer approved.


Loan pre-qualification letters and loan approval letters just aren't worth the paper they are printed on.


Thanks for letting me rant!

Labels:

Thursday, April 19, 2007

Practical Advice for Home Sellers


A lot of sellers in today's market don't want to paint, clean or fix anything. The assumption is the house down the street sold last year for more money, and that home does not come close to comparing to theirs! Even when an experienced listing agent makes recommendations to the seller -- the seller's refuse to take them to heart. Why? They believe their home and situation is different from everybody else that is selling a home.


They feel they have the best home, or perhaps some aspect of their home that makes them totally unique. In the seller’s mind, they get an exemption from doing the required work.


But this can be the fatal mistake or real estate, failing to see that the home down the street is unique as well. Maybe it has been totally updated with new siding, or new roof.


Buyers will view your home with a critical eye -- all the while comparing current pricing and all other real estate in your area. They want to be certain the money they are spending to purchase a property is well spent! They do not want to overpay on a home that still needs work. So if the carpets are dirty and original, the carpet padding has lost it's resiliency, if there are water stains on the kitchen ceiling, there is rusty water underneath the hot water heater, the paint trim has yellowed, the windows are fogged up, the furnace is gasping, and the home is on the market with none of the needed maintenance taken care of, the buyer will say "Next!"


And then when the buyer does move on, the seller may be thinking that his agent is wasn't working for him -- not holding enough open houses or placing ads and classifieds in magazines. The truth is they were not listening.


Clean and staged homes are important. The buyer needs to be able to envision themselves living in the space. Spending weeks -- or months -- on the search for their next perfect home has tired the buyer out. They don't want to see the grimy floors and the minor repairs that they'll spend week fixing when they move in.


For some quick tips, have your homeowners:

+Mow the yard and weed the flower beds.

+Tone down the color. You love the red, but a neutral tone, such as beige. You are selling the room, not the color.

+Declutter, especially before and open house or a walk-through.

+If they don't want to clean, hire a maid service for a day. Have them mop and dust and scrub -- especially in the kitchen and bathrooms!


So sellers, listen to reasonable advice in the form of wisdom from the experienced agent you have hired to sell your home. Ask for the market statistics to be substantiated. Compare your homes to other homes in your own community "apples to apples!" Then paint, clean, fix, update, and still price your home or real estate competitively!


Source: Realty Times; Jim Crawford


=======================
Bradenton Real Estate

Labels: ,

Monday, April 16, 2007

Rally for property tax relief

The time to act is now. And we need your help! Homeowners are hurting and small businesses are closing their doors.

Floridians for Property Tax Reform will rally in Tallahassee on April 17. Enough is enough. We must make sure our elected officials know that this crisis must be addressed before May 4. We cannot wait another year for real change. The most effective message will be delivered when a large assembly of citizens file into the courtyard at the Capitol, and announce to our Legislators that we mean business.

http://saveourhomesforever.com

Labels: ,

Thursday, April 12, 2007

Home Prices to be flat this year

David Lereah, NAR’s chief economist says, "Existing-home sales are likely to total 6.34 million in 2007 and 6.52 million next year, in contrast with 6.48 million in 2006. New-home sales are seen at 904,000 this year and 935,000 in 2008, below the 1.05 million last year. Housing starts are estimated at 1.47 million in 2007 and 1.55 million next year, down from 1.80 million units in 2006.

“As home sales moderate, overall home prices will be essentially flat this year,” Lereah says.

“The good news is that inventories remain well below the levels experienced during the last housing downturn in the early 1990s, and supplies are close to balance in many areas.”

The national median existing-home price will probably slip 0.7 percent to $220,300 in 2007, following a 1.0 percent rise last year. The median new-home price is projected to increase 0.4 percent to $246,200 this year, after gaining 1.8 percent in 2006. Modest growth is expected next year, with existing-home prices increasing 1.6 percent and new-home prices rising 2.0 percent.

===============
Bradenton Real Estate

Labels: ,

Tuesday, April 10, 2007

This Week's Bradenton Real Estate Club Meeting - Fri. Apr. 13th

Don't miss this week's meeting of the Bradenton Real Estate Club on Friday, April 13th at 11:45 a.m. (see details below)

This week's topic: "Evictions ", presented by Alvin Holmes of LandlordsOnline. Bring a guest if you can

===========================

BRADENTON REAL ESTATE CLUB

WHEN:Every Friday
Arrive: 11:45 - 12:15 Networking, Order and enjoy lunch ($13.00 includes lunch, drink, and tip).
Meeting: 12:15 - 1:15 Discussion/Presentation

WHERE: Stoneybrook Clubhouse in Heritage Harbour, 7515 Grand Harbour Parkway, Bradenton, Florida 34212. (I-75Exit 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 at941-746-0505 or visit our web site at http://www.BradentonRealEstateClub.com

I hope to see you there!

DanDan Forbes (e-PRO,CRS,GRI)
2005 Realtor of the Year (Manatee Assoc. of Realtors)
PREMIER TEAM Inc.REALTORS
3850 E. State Road 64
Bradenton, FL 34208
Office: (941) 746-0505
Fax: (941)749-0383
Toll Free 1-877-646-8326
http://www.BradentonRealEstate.com
and
http://www.BradentonRealEstateClub.com
======================

Labels:

Friday, April 06, 2007

Bradenton - Sarasota Real Estate Market Has Hit Bottom

The Bradenton - Sarasota, Florida real estate market has hit bottom, and will stay there for the next 12-18 months and then begin a 3-4 percent annual growth climb.

At least that's the word from Hank Fishind a well respected Florida economist. And that's good news for our Bradenton Real Estate Market. Having seen a median price decline of approximately 22% since the high of 2005, it seems that we have finally hit bottom.

Personally, our real estate team is having a strong 2007 as we see buyers entering the market to take advantage of the price declines. Low interest rates and a great inventory selection makes this a perfect time to buy.

To our listing clients we reccommend the following:
1. Be sure you are priced competitively, because homes ARE selling. Buyers are buying the "obvious best value." What's that mean? It means your home should be the BEST priced home in the area, hands down.

2. Clean, paint, install new carpet. Do everything you can to make your home show perfectly and be "move in" ready. Buyers have 100's of homes to compare to yours, make sure yours shows the BEST.

3. When you receive an offer, be courteous, grateful, and negotiate it to it's highest, then seriously consider executing it. Many seller's have been on the market a year or more with NO offer. Don't lose an interested buyer.

To our buyer clients we say:
1. Have a clear picture of the home you want to buy. With so many homes on the market it's easy to get confused by looking at 20 homes or more. Narrow down your criteria to a short list of homes to visit.

2. Make your offer attractive by having a pre-qualification letter in hand from your lender. We can help you with that. There's no cost or obligation to that particular lender.

3. Be sure that your are working with a Realtor who is a Certified Residential Specialist or an Accredited Buyers Representative. These designations (which we hold) give you the assurance that you are working with a highly trained professional.

Fishkind's presentation yesterday in Manatee County was covered by our local paper. You can read the full story here...
http://www.bradenton.com/mld/bradenton/news/local/17035333.htm

==============
Bradenton Real Estate

Labels: , , ,

Wednesday, April 04, 2007

This Week's Club Meeting - Fri. April 6th

Don't miss this week's meeting of the Bradenton Real Estate Club on Friday, April 6th at 11:45 a.m. (see details below)
This week's topic: "31 Ways to Find Motivated Sellers ", presented by Dan Forbes, Premier Team Inc., Realtors. Bring a guest if you can.
===========================

BRADENTON REAL ESTATE CLUB

WHEN:Every Friday Arrive: 11:45 - 12:15 Networking, Order and enjoy lunch ($13.00 includes lunch, drink, and tip). Meeting: 12:15 - 1:15 Discussion/Presentation

WHERE: Stoneybrook Clubhouse in Heritage Harbour, 7515 Grand Harbour Parkway, Bradenton, Florida 34212.(I-75Exit 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 at941-746-0505 or visit our web site at http://www.BradentonRealEstateClub.com

I hope to see you there!

Dan

Dan Forbes (e-PRO,CRS,GRI)
2005 Realtor of the Year (Manatee Assoc. of Realtors)
PREMIER TEAM Inc.REALTORS
3850 E. State Road 64
Bradenton, FL 34208
Office: (941) 746-0505
Fax: (941)749-0383
Toll Free 1-877-646-8326
http://www.BradentonRealEstate.com
and
http://www.BradentonRealEstateClub.com
======================

Labels: