Sea to Sky Realty . Weiss International » Bradenton

Bradenton / Sarasota ranks high in online interest

Bea Weiss, Real Estate Consultant, Attorney — Fri, 03 Feb 2012 16:20:12 +0000

Bradenton / Sarasota is the #3 most popular area in the nation for home buyers who are searching for homes using the internet.

What does this mean to you if you’re selling a home? It means that you should be choosing a company who offers the strongest online marketing available: Sea to Sky Realty!

With our company your home gets showcased not just locally, but also nationally and internationally! Contact us today for a free consultation.

Here is the full story from today´s Herald Tribune:

Online searches for properties at a prominent real estate site showed North Port-Bradenton-Sarasota as the third biggest target in the nation.

The local market was behind only Palm Bay-Melbourne-Titusville and Lakeland-Winter Haven on a list produced by Trulia.com for the fourth quarter and released on Thursday.

The calculation by the Internet real estate site, which logs 100 million property views each month, found more than six times as many “inbound” home searches by outsiders for this region as “outbound” by local residents.

The region had been tops on a previous list for the third quarter.

Trulia also gave some insight as to where the interest was coming from. In the case of Gulf Coast homes, more came from Chicago than anywhere else. For the Atlantic coast and Central Florida, demand was coming from New York more than anywhere else.

“Today’s house hunters are deal seekers, who focus their search in places where prices are low,” said Jed Kolko, Trulia’s chief economist. “Although locals in Florida, inland California and the Southwest are suffering from high foreclosure rates and lost equity, huge prices declines since the height of the housing bubble have drawn house hunters from across the country.”

“As America’s retirement capital, Florida has received the most attention from prospective homebuyers and renters from the Northeast and Midwest,” Kolko said. “Baby boomers who had planned to retire to cheaper places elsewhere in the South during the boom years can once again buy in Florida.”

Facts

Where demand for online house hunters is strongest on Trulia.com:
1. Palm Bay-Melbourne-Titusville
2. Lakeland-Winter Haven
3. North Port-Bradenton-Sarasota
4. Cape Coral-Fort Myers
5. Tulsa, Okla.
6. West Palm Beach-Boca Raton- Boynton Beach
7. Fort Lauderdale-Pompano Beach-Deerfield Beach
8. Riverside-San Bernardino-Ontario, Calif.
9. Charleston-North Charleston- Summerville, S.C.
10. Orlando-Kissimmee-Sanford

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Lakewood Ranch Builder earns national award

Bea Weiss, Real Estate Consultant, Attorney — Mon, 09 Jan 2012 19:19:24 +0000

LAKEWOOD RANCH — Neal Communities will be featured as “America’s Best Builder” in the March edition of the national industry trade publication, Builder Magazine.

The Lakewood Ranch company was the only builder in the country to receive the award that closed between 100 and 500 homes last year. Three other developers that fit different size categories earned the same honor for their respective classes.

“We really do feel honored,” said Leisa Weintraub, creative director and vice president of marketing. “If they don’t feel any of the applicants fit the bill, they don’t always give the award. I think that’s pretty indicative of their high standards.”

The builder was judged on a number of categories ranging from home design to company finances and marketing.

It was the first time Neal Communities applied for the award.

With houses ranging from cottages in Forrest Creek to $1 million mansions in Lakewood Ranch Country Club, Weintraub said the company’s variety of homes has helped it better withstand the housing bust than many others.

Neal Communities closed on 376 homes in 2011, with more than 400 gross sales.

The company reported total revenue last year of $126.3 million.

The developer is moving forward with plans this year to build a massive Grand Palm subdivision in Venice and a smaller 140-site community on State Road 70 in Manatee dubbed Fairfield.

Neal Communities also runs a title company, mortgage company, pool company and interior design service. The developer has built more than 8,000 homes in Southwest Florida.

“Winning this year is even more special,” Builder Magazine Editor in Chief Denise Dersin said in a statement. “Despite many housing industry losses, the America’s Best Builder program drew a strong field of candidates, of which Neal Communities was determined to be the best in its class.”

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Real estate sales in Bradenton on the rise

Bea Weiss, Real Estate Consultant, Attorney — Tue, 27 Dec 2011 17:54:52 +0000

Bradenton real estate home sales on the rise

MANATEE — Existing real estate home and condo sales rose throughout the Bradenton-Sarasota area in November to mirror upswings nationally. The Bradenton real estate market overcame an uptick in contract cancellations to continue the momentum built earlier this year. November is a historically busy month for housing and real estate in general in Manatee as snowbirds and winter tourists soak up inventory left from the summer.

The downside: Distressed properties (REO, short sales, more info on short sales: Bradenton Shortsale) continue to dominate the landscape, which has kept a tight grip on values across the region. The Bradenton-Sarasota real estate market recorded 816 existing single-family home sales in November 2011, a modest 2 percent jump from October and a 17 percent increase from the same time last year, according to figures released Wednesday by Florida Realtors. Existing condo sales also climbed from October to reach 269 in November, a 7 percent gain from a year ago. Through 11 months of the year, local real estate sales are on track to handily bag their best cumulative total since the days of the boom. But because most of the transactions involve foreclosures and short sales, prices have been slow to recover.The median real estate sales price for existing homes in Bradenton and Sarasota last month was $152,100, a slight increase from the $149,300 reported in November 2010. The median is the midpoint where half the homes sold for more, half for less.

Existing residential real estate sales statewide dipped about 6 percent month over month with 12,993 units sold in November. That figure, however, represents an 11 percent increase over the same time last year, the MLS report shows. Florida’s median real estate sales price held relatively steady at $130,100. Similar to the local numbers, U.S. homes sales rose 4 percent in November to a seasonally-adjusted annual rate of 4.42 million units, according to the National Association of Realtors.

To search for current up for sale homes in the Bradenton and Sarasota area, please check Bradenton and Sarasota MLS property search: Bradenton MLS

For more information please contact us:

Axel and Bea Weiss
Sea to Sky Realty
(941) 866 1666
Email

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Forbes.com: Bradenton/ Sarasota is #1 destination of Americans hunting for homes

Bea Weiss, Real Estate Consultant, Attorney — Tue, 06 Dec 2011 22:53:59 +0000

More good news for the Bradenton/Sarasota Real Estate Market: Forbes.com names the North Port-Bradenton-Sarasota area as #1 area where Americans are hunting for homes!

All of the top 10 cities “picking up strength” are in the Sun Belt. Florida dominates the list with five snow bird hubs in the top 10: the North Port-Bradenton-Sarasota area (No.1), Fort Lauderdale-Pompano Beach (No. 4), Cape Coral-Fort Myers (No. 5), West Palm Beach-Boca Raton (No. 6), and Orlando-Kissimmee-Sanford (No. 10).

In Bradenton a little over six times as many people from outside the area were looking for properties there as the number of people living there looking for properties elsewhere.

Another sign of improving health in the Florida real estate market: Existing home sales along the coasts picked up somewhat dramatically this year, even in the slower summer and early fall months.

…both investors looking to purchase rental properties and Baby Boomers scouting for vacation and/or retirement properties are hunting for bargains in floundering housing markets in Florida and California. “Part of the long term trend is Baby Boomers moving toward retirement, and some of those that put off their searches while home prices were skyrocketing in the Sun Belt, are now looking again because prices have fallen so much.”

Give us a call at 941866.1666 if we can help you buy or sell a property in Bradenton / Sarasota, Florida.

Good news for Florida Real Estate

Bea Weiss, Real Estate Consultant, Attorney — Thu, 17 Nov 2011 22:44:39 +0000

Though the past four years have seen many cities suffering from large numbers of foreclosures and a loss in home values, ten of these real estate markets are now leading the nation towards a general recovery and stability of the housing sector. The six markets included – Miami, Orlando, Ft. Myers/Cape Coral, Ft. Lauderdale, Sarasota/Bradenton & Lakeland/Winter Haven.

Here is Realtor.com’s opinion of the Sarasota FL real estate market:

Sarasota-Bradenton, FL: A total of 11 percent of all foreign buyers in Florida are in Sarasota-Bradenton specifically. Number six on the turnaround report, the market has seen a list prices increase of more than 17 percent year-0ver-year and a decrease of inventory of 32 percent according to the Realtor.com October data. The market still has a long way to go, after losing more than 55 percent of home values from 2006 to the second quarter of 2011 due to foreclosures.

The Realtor.com analysis found that:

• Sarasota-Bradenton attracted 11 percent of Florida’s international buyers.

• List prices in the market are up 17.5 percent from 2010.

• The number of days a home spends on the market before being sold is down 32 percent.

Let’s take a closer look at all markets:

Miami, FL: The number one town on the report, Miami has gone from being one of the first victims of the subprime crash to having a healthy inventory that is only half the size from a year ago. Today, Miami is only reporting one foreclosure for every 407 homes, compared to the national rate of one per every 213. And, condo sales have increased 79 percent in the first five months of this year, largely due to an influx of foreign investors.

Orlando, FL: Ranked second on the report, Orlando leads the nation in the ratio of Realtor.com searches to listings. Inventory has also obtained a balance with demand. Foreclosures hurt the market in 2007-08, but foreclosures in Orlando were down 58 percent in September, compared to last year.

Fort Myers-Cape Coral, FL: Median prices in Fort Myers-Cape Coral have increased almost 33% year-over-year, according to Realtor.com’s October 2011 Real Estate Trend Data. In addition, foreclosures are down–only one in 313 homes in September–while inventory has been reduced and foreign buyers have been attracted to the area’s real estate prices. The metro ranked third on the turnaround report.

Fort Lauderdale: FL: A decrease in inventory coupled with an uptick in prices earns Fort Lauderdale the number five spot on the report. Inventory decreased almost 38 percent year-over-year, according to Realtor.com’s October data report. Prices have fallen about 46 percent since 2006, but are now going up.

Sarasota-Bradenton, FL: A total of 11 percent of all foreign buyers in Florida are in Sarasota-Bradenton specifically. Number six on the turnaround report, the market has seen a list prices increase of more than 17 percent year-0ver-year and a decrease of inventory of 32 percent according to the Realtor.com October data. The market still has a long way to go, after losing more than 55 percent of home values from 2006 to the second quarter of 2011 due to foreclosures.

Lakeland-Winter Haven, FL: A year ago, Lakeland-Winter Haven topped national foreclosure filing lists, but now the area’s distressed sale market share has decreased 46 percent. The area–ranked 7th on the turnaround list–has seen total listings decreased more than 36 percent year-over-year and median age of inventory decrease more than 17 percent, according to Realtor.com’s October data. Prices are also up 12 percent compared to last October.

Realtor.com’s Top Ten Turnaround Town Report is compiled using a formula based on price appreciation, changes in inventory, median age of inventory, searches by Realtor.com visitors, and unemployment data.

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Tax Notices are Here but What do They Really Tell Us?

Bea Weiss, Real Estate Consultant, Attorney — Wed, 07 Sep 2011 22:40:47 +0000

The deadline for filing a petition To contest the property value on your TRIM notice is September 9th.

Here’s an informative summary of and commentary about your property taxes:

Tax Notices are Here but What do They Really Tell Us?

BRADENTON — Tax notices are here, but what do they really tell us? Every year at this time, if you own real estate, you receive a state mandated tax notice called the TRIM Notice. TRIM is an acronym for Truth in Millage. Unfortunately, this form is anything but “Truth in Millage.”

The millage rate is the tax rate per $1,000 of value on your homestead. Getting to the total bill is not so simple.

First, to determine the taxes you owe, each government must set the tax rate by holding two public hearings. However, you will only find the first public hearing date on the TRIM notice.

Unless you live in the City of Bradenton or Longboat Key, you pay extra for fire services. West Manatee is the only fire department raising the assessment (a fire tax) by over 4%. It is odd that when trying to raise the Sheriff’s tax rate by this same amount, there was opposition; however, the fire department so far, has none. Maybe no one noticed, since it is on the back of the TRIM Notice and there is no notice of when they will meet to approve their budget.

The front of the notice lists last year’s tax rate; what this years’ rate will be and the tax rate if “NO budget changes are made.” However, the tax rate that determines if “NO budget changes are made,” is not what it means to the average taxpayer. “NO budget change” would be if last year’s total taxes were collected with a higher tax rate this year. Only government can define terms that do not mean what they are supposed to be.

Since property values are declining, the rate if “NO budget changes” are made is a higher rate than proposed by most of the government’s proposed budgets with the exception of the Cities of Bradenton Beach, Anna Maria and the School Board (the state raised your school property taxes, but they said they lowered them… shhhh, maybe they think they fooled you). The school tax “by State Law” is going up almost 5% or about $120 for my home, meaning more total taxes collected than last year.

Let’s start at the top of the TRIM Notice:

Taxable Value Determination:

The first part of the TRIM Notice is the Taxable Value Determination. This is what the tax rate is multiplied by, to get the taxes that you’re going to pay. Years ago this was easy, today not so much. Taxable value is not market value. Taxable value could be substantially less than your home’s market value if you are homesteading, since your taxable value is capped each year by a maximum of the CPI’s (Consumer Price Index) increase or 3% known as “Save Our Homes”.

The other component affecting taxable values are exemptions. The most common is a homestead exemption which used to be $25,000 for all homesteaded property owners.

Now:

Every homesteaded property owner gets a $25,000 exemption.

On the second $25,000 taxable value there is no bonus exemption.

On the third $25,000 there is now a bonus exemption. However, the bonus exemption is not applied to the school part of your taxable value.

Most of us that are homesteaded will see $50,000 for exemptions for everything but public schools, which is $25,000. This is another tax break homesteaders received about two years ago and also reduced revenues to all governments except the school board. Remember, the state relies on the school and property tax to fund their state budget. They take money from counties and cities but yet they keep their tax collections protected. If you are not homesteaded nor have commercial property, you do not see any of these exemptions.

There are also other exemptions such as; Widows, Veterans Disability, Additional Homestead and Combat Veterans HX Discount (with some getting 90% exempted).

County:

The first items are approved by the Manatee County Commission. The County rate is lower than last year. The Sheriff’s is higher, but the total of the two will not increase. Based on action of the commission, the Sheriff’s budget was protected from the same cuts as the county services to protect public safety. The County funds everything from Parks and Recreation to ambulances. The GO (General Obligation) Refunding is the debt payments for bonds. This tax rate goes up about 4% to cover the fixed payments since taxable values went down. This is not discretionary since the taxpayers voted for this debt. The unincorporated rate is set the same as last year at .6109 and is charged to only those not living in a city charging a tax rate (overall result tax decrease).

Public Schools:

The School Board has to increase its tax rate “By State Law”. The State mandated this, so contrary to what was said from Tallahassee, the governor and legislature actually raised property taxes by raising the tax rates for schools. The tax rate is not set locally for this portion of the school boards tax rate. This money goes from our County to the State and we don’t get it all back. We only receive around 40% back and the rest goes to the State for funding other counties. So, your property taxes fund schools not even in our county!

The School Board has no power to reduce the tax rate set by the governor and legislature (by state law). They do approve the local board and capital outlay tax rates. The Manartee School Board has generated controversy around the desire to increase the capital outlay tax rate from 1.25 to 1.50. I am opposed to this increased tax rate for several reasons. The school board recently voted to eliminate the school impact fees. They already get a half cent sales tax for capital improvements from all of us, so I question the justification for even more of our tax dollars for capital improvements.

Municipality:

The Cities are all different. Bradenton is increasing its rate from 4.9452 to 5.2002; collecting the same taxes as last year (no tax break). Palmetto increases their rate from 4.6662 to 5.1185, collecting the same taxes as last year (no tax break). Holmes Beach and Bradenton Beach tax rates are the same as last year’s. Holmes Beach has a tax decrease, but Bradenton Beach has a tax increase since the rate is higher than the rate if no budget changes were made. The City of Anna Maria is increasing its tax rate from 1.7882 to 2.05 which is more than any city and collecting more of your taxes than even last year; a substantial tax increase.

Not all cities provide the same services:

For example: the City of Bradenton operates their own fire department. Palmetto does not, but they have one of the highest tax rates of any city. The cities also have storm water utility fees and they add taxes to your electric bill. The County does not have any of these extra fees or taxes.

WCND:

West Coast Inland Navigational District is another tax rate set by four county commissioners representing Lee, Charlotte, Sarasota, and Manatee. This tax funds regional navigational projects and navigational related expenditures, ensuring the economy that we receive from our waterways is maintained (small tax decrease over the region).

Fire Tax:

Fire Tax rates are set by fire commissioners elected from each of the fire districts and all these tax rates are the same as last year. However, they also have an assessment that is listed on the back of the TRIM Notice and can be no higher than the State Legislature has approved. Only Westside Fire Department is increasing this assessment, but they are also the only fire department where the voters rejected a fire tax. Therefore, there is no fire tax and the overall fire cost should be less.

However, at the end of the day, the bottom line bill is what counts.

If you own your home and are homesteaded your tax bill is probably going up because of:

State mandating a tax increase for balancing the State school budget on the backs of Manatee County tax payers along with the other counties.
Westside Fire Department increased their fire assessment
The rate increase in the City of Anna Maria.
Total taxes collected are higher in Bradenton Beach
Your taxable rate is lower than the market rate. The tax breaks were realized when values went up so the taxable values increased by no more than 3%.

If you own non-homesteaded property such as commercial, investment or reside somewhere else, you should see a tax decrease unless the Property Appraiser increased your market value. The exceptions are if you live in the City of Anna Maria, Bradenton Beach, and/or in Westside Fire District.

The sad part of the TRIM Notice is that it just does not give you the real truth of where your taxes are going. Most mistakenly blame the county commissioners for the total bill, but as you can see, there are many other people including the governor that set the tax rates which ultimately affects the bottom line of your tax bill.

If you don’t agree with the value total on your TRIM Notice, you can always appeal the value determinations by filing a petition before September 9. You can also attend a Public Hearing to voice your concerns about your tax rates. The first of the many Public Hearings will be held at the Manatee County Commission Chambers, Wednesday, September 7 at 6 p.m., 1112 Manatee Avenue West.

Source: www.thebradentontimes.com

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Bradenton/Sarasota area on list of recession resistant cities

Bea Weiss, Real Estate Consultant, Attorney — Mon, 05 Sep 2011 17:59:13 +0000

Forbes - using Zillow data - recently created a list of “America’s Recession-Resistant Cities For Real Estate.” Florida, one of the states to suffer most from the real estate boom and bust, contributes six cities to our list – more than any other state. Sarasota came in on #7!

Here are some excerpts from a Sarasota Herald article covering that topic:

To some, it might seem surprising that a business magazine catering to wealthy readers would name Sarasota-Bradenton and Punta Gorda on its list of “America’s Recession-Resistant Cities For Real Estate.”

But Forbes’ recognition this month for a region that has suffered mightily in the Great Recession is more a study of the present than the past.

To real estate professionals and other observers in Southwest Florida, there has been a clear stabilization in pricing for 2011. Admittedly, that has happened during a sizeable drop in the supply of distressed properties because of the robosigning crisis.

Teaming up with Zillow.com, the real estate analysis site, Forbes calculated median sales prices by quarter for homes, condominiums and apartments at all price points in more than 154 communities nationwide.

The resulting list had five Florida cities: Fort Myers at No. 2, Port St. Lucie at 6, Sarasota at 7, Destin at 10 and Punta Gorda at 18. That was more than any other state.

“The Florida metro areas have really paid their dues, coming off quite a lot since 2006 in terms of home values,” Zillow economist Svenja Gudell told Forbes. “We are finally seeing those numbers start to stabilize.”

In Fort Myers, for examples, Forbes said that prices have been steadily appreciating — and at a faster rate in the most recent quarter — since November. A similar phenomenon has occurred in the Sarasota-Bradenton and Charlotte County-North markets.

“We are starting to see some organic growth that can’t be traced back to tax credits, whereas in 2010 we saw some home value appreciation simply because of them,” Gudell said.

Give us a call at 941.866.1666 if we can help you buy or sell a home in the Bradenton / Sarasota area.

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Market Update July 2012

Bea Weiss, Real Estate Consultant, Attorney — Tue, 09 Aug 2011 17:25:35 +0000

The median sales price of listed single-family homes in July was $250,000, the highest since December 2009, according to the most recent multiple listings report from the Manatee Association of Realtors. The median price of condominiums sold, $121,500, is at the highest point since September 2010. That statistic is just one of several positive developments evident in the association’s July report.

There are 2,729 homes for sale, which is the lowest number for at least three years — a sign that demand is catching up with supply.

But these good news might not last for long – as there is still plenty of “shadow inventory” of bank-owned homes and homes waiting to go into foreclosure which will sooner or later flood the market.

So if you are thinking of selling your home now is a good time to get started.

More buyers purchasing multimillion-dollar homes

Bea Weiss, Real Estate Consultant, Attorney — Mon, 18 Jul 2011 19:32:01 +0000

I found an interesting article in the Sarasota Herald today that reflects what we have seen in the last couple of months - more and more buyers are purchasing luxury homes again.

Here are some interesting facts:

In the unincorporated areas of Manatee and Sarasota counties and on Longboat Key, builders have begun construction of 49 luxury homes during the 12-month period ended June 30 at an initial cost of $58.5 million. That compares with 32 homes valued at $31 million during the preceding 12 months. Those numbers do not include Bird Key, Anna Maria Island and the city of Sarasota, where at least 40 more high-end homes are under construction at a total cost of around $40 million.

Court records show that at least one third of 115 luxury homes permitted in Manatee and Sarasota counties since July 2009 have been purchased by people from out of state or out of the country.

So if you are interested in selling a luxury home, make sure that it is marketed to those out of state and out of country buyers.

Call us today at 941.866.1666 if we can help you buy or sell a luxury home.

New Homes For Sale on Anna Maria Sound – Harbour Isle

Bea Weiss, Real Estate Consultant, Attorney — Wed, 30 Mar 2011 13:31:06 +0000

Florida Island Living At Its Very Best!

Anna Maria Sound is located in the city of Bradenton, Manatee County, Florida. Harbour Isle, located in beautiful Perico Island, is just minutes away from Anna Maria Island, with its quaint business districts, award-winning restaurants, specialty shops, and arts and entertainment venues that make it one of the nation’s favorite vacation spots.

These new homes in Harbour Isle offer easy access to US Highway 41 State Road 64 (Manatee Ave W).

Harbour Isle will be a gated community offering a lush tropical setting. After entering through the gated guard tower, visitors will proceed down a narrow Royal Palm-lined drive, running parallel to a 2-mile walking path that encircles the island, skirted by a 38-acre man-made lake, and bordering a large mangrove preserve on the east side.

Buyers have a choice of 7 different homes, beautifully designed in a southern coastal resort-style architecture. The homes will range in size from 1,621 to 2,960 square feet of living space, and will be LEED® (Leadership in Energy and Environmental Design) Certified, the highest rating for green features such as energy efficiency, enhanced indoor air quality, water efficiency and sustainable use of materials and land.

Minto Group, created in 1955, has built more than 67,000 homes, including over 19,000 in Florida.

Please contact us to request more information about these new luxury condominium at Harbour Isle.

Sea to Sky Realty . Weiss International » Bradenton

Bradenton / Sarasota ranks high in online interest

Facts

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