Monthly Archives: August 2016

What is the real estate moderation sales say

unduhan-4For those that follow Sarasota Real Estate Market activity in the media, it’s not new news to you that the pace of sales has clearly retracted through most of 2016.  However, conversely, keeping up with the brisk tempo of the last two record-setting years might be cause for some concern, given the still limited growth in inventory.  Homebuilder confidence once again rose this month, according to the National Association of Homebuilders, which is great news as it is the new construction that has had the greatest impact on the market this year.

As mentioned in my last month’s Moulton Sarasota Real Estate Report, new home sales are not recorded with the Association of Realtors as all other data is, so it is difficult to have an accurate count of just how many new homes are being completed and sold.  Last week John Hielscher of the Herald Tribune reported that new home starts in the Sarasota Real Estate Market have grown 43.6% over the prior year.  Industry experts estimate that new home availability is about 4.5-months of supply, nearly the same as our existing home reserve.

While market reports indicate that total transactions in the Sarasota Real Estate Market fell over 22% last month, when adding the increase in new home construction and sales, and eliminating distressed transactions form the calculations, I do not believe that the moderating pace of sales is quite as dramatic as the number appears.

Within months, literally thousands of new condominiums, single-family homes and rental homes will be completed in our region, and looking at the Sarasota Real Estate Market conditions, I see a healthy environment and most certainly a sustainable one.

Sales

As mentioned, Sarasota Real Estate Market transaction fell more than 22% in July.  But if you remove the substantial decline in the distressed market, the “traditional” sales fell at a much less alarming level of 15.5%.  Indeed, the number is still worthy of a raised eyebrow, however, as I have said, I feel that new home/condo inventory is growing at a healthy pace now and is keeping real estate, one of our area’s most important economic drivers and employment sources, on an upward track.

When taking the sales activity and slicing it by price tier, the largest decline – about 26% – was in the under $200,000 category.  At the luxury level where most of my activity takes place (above $1 million), sales decreased about 18%.  Year-to-date, all sales in Sarasota’s Real Estate Market have fallen less than 8%.

  • Sarasota is averaging monthly sales in 2016 of $301.4 million vs. $277.4 million in 2015. July saw $311.1 million in transactions, 14% less than July 2015.
  • The monthly average of single family sales this year is 581 vs. 613 in 2015 and for condos the monthly sales are 281 vs. 297 last year through July.
  • Single-family sales last month were down 22% from prior year, and down 14% from June 2016.
  • Condominium sales were down 25% from last year in July and about 28% less than June.
    • S. real estate sales decreased 10.9% in July.
    • Florida’s housing transactions saw single-family home sales fall 8% compared to last year and condo sales were down 11.5%.
  • All cash sales in Sarasota continue to be strong with 34% of single-family and 59% of condos sales closed without a mortgage.
    • On a national scale, all cash sales were 21% of total sales.
  • Distressed sales were only 6.2% of total sales, compared to 12% last year.

Note:  Some analysts have suggested that because July had five weekends and only 20 business days during which closings would be scheduled, the unusual calendar event may have contributed to the more significant drop in sales compared to other months of 2016.

Prices

Once again, the Sarasota Real Estate Market showed impressive price growth.  Though we have fallen a bit from the heady 20+% year-over-year increases of last year, again this moderation is a sign of health and market stability.

  • In July, Sarasota’s single-family homes were sold at a median price of $242,500 vs. $219,500 a year ago, an increase of nearly 9.5%. The year to date monthly median average was $212,536 vs. $182,200 last year.
  • Condominium median sale price grew to $205,000, an increase of 8% over July 2015.
    • Florida median price for a single-family home is reported to be up 11.6% over last year, to $223,000, and condo median prices increased 6.8% to $160,000.
    • Nationally, median prices for all homes rose 5.3%.
  • The average sale price for houses in Sarasota was $335,617 in July vs. $308,356 a year ago, a 8.8% increase.
  • Sarasota’s condominiums sold for an average price of $325,238 vs. $275,700 a year ago, an 18% increase.
  • Sarasota homes sold at 95% of the list price.

Find the real estate market that you are looking for

unduhan-5Whether you’re a homeowner, a potential buyer, or a realtor, it makes good sense to stay atop real estate trends. But considering the never-ending flood of forecasts, predictions, and reports on the state of the real estate market some of which outright contradict one another it’s difficult to know which reports to trust and which to ignore.

While savvy real estate buyers and sellers try to stay abreast of industry predictions and overarching trends, they also understand that real estate is a lot like politics: Local events tend to play a much larger role in local property values than national trends.

Taking the Temperature of Your Market

When it comes to buying property, every potential homeowner has his or her own wish list. That makes it difficult to pinpoint specific factors that make for “must buy” property.

Many people first consider their finances when making a purchase, noting the monthly mortgage payments should be no more than 28 percent of pre-tax income. Others consider location above all else, prioritizing a dwelling close to home so they can bike to work. You, of course, might value something entirely different in a new home.

Whatever your personal taste in property, the real danger is completing a transaction without first knowing the market. To inform your real estate decisions, consider the following five factors that heavily impact local home values:

1. School quality. High-quality schools often signal a stable housing market. Homes in these areas might be more expensive, but they also have stronger resale values.

Consider the benefit of not having to pay private school expenses as a way to offset the added upfront investment. Even if you don’t have kids, buying a home in a first-rate school district can pay dividends.

When researching school quality, find news reports on the school district’s projected spending. Compare its budget to nearby towns and counties as well as state and national averages. Many school systems also publish extensive budget data on their own websites. Additional information is available online through ballotpedia.org and governing.com.

2. Infrastructure reliability. The cost and convenience of living in an area greatly affects home values as well as residents’ quality of life.

Measure the frequency of media stories on power and cable outages, water main problems, and storm-related flooding. You might visit the city’s department of public works to ask about the age and condition of water and sewer lines in the home’s neighborhood. A visit to your city’s permitting department should help you determine how common homeowner repairs — whether from vandalism or weather-related incidents — are in the area.

When touring a neighborhood, pay attention to your cellphone reception and connection to your wireless data network. Dead zones can be tough to live with and can hurt resale values. Inquire about the availability of high-speed internet and check online reviews of area internet service providers.

3. Demand for housing stock. New construction trends and forecasts offer clues to the future value of homes in an area.

Heavy construction typically implies strong job growth and means increased property values for homeowners. A spike in construction also might lead to more of the amenities homebuyers appreciate, including better transportation options, shopping and entertainment, recreational activities, and schools.

Talk with a real estate agent to learn about the current inventory of homes in various price ranges and to learn whether those numbers have changed recently. You can also find this information on your own, including the average number of days homes have been listed on the market before sale, through the National Association of Realtors.

How comfort on your apartments living

Pune is one beautiful city that offers a peaceful lifestyle with its great environment, weather conditions and open spaces. Without a doubt, you can find local residents, student and employees from several parts of India of the world in Pune. This city is totally splendid with all that it has to offer its inhabitants.

The real estate industry in Pune has grown to a new level today. There are several commercial and residential projects that are happening through the city of Pune. With many real estate companies in the market today, tough competition is something that can be expected, with every company trying to offer good commercial and residential spaces.

Legacy Lifespaces is a popular company that has gained immense popularity with its amazing constructions. This is one company that individuals can trust today with their eyes closed.Legacy Twin Arcs Phase 2 is the latest project of Legacy Lifespaces that is focused on offering high-quality residential apartments that offer luxury and pure comfort.  This project consists of 3 well-designed towers, with each containing 11 floors. Offering several variants of 1BHK, 2BHK, and 2.5BHK, there are many options for you to choose according to your requirements. The carpet area space of the variants starts at 401 sq. ft. and movies up to 700 sq. ft., excluding the terrace space which is added separately.

If you’re looking out for the extraordinary apartment then you have come to the right place. Legacy Twin Arcs Phase 2 Pune offers apartments that are simply gorgeous. From modern furnishings and fittings to kitchens with granite platforms, water purifier, designer vitrified tile flooring and so much more. Pure luxury is what you will get at this project. The exterior amenities include a gymnasium, sports facilities and play zone for children, meditation center, day care center, fast elevators, multipurpose hall, 24hour water, landscape gardens and loads of open spaces to just have a good day each and every day. There’s nothing that you can’t do at this development. This project has also taken up rainwater harvesting, has security cameras, power backup and firefighting equipment for safety.

Located at Punawale, Legacy Twin Arcs Punawale comes in close proximity for all your requirements and emergencies. From schools to colleges, malls, shopping centers, hospitals, medical centers, restaurants, public transport and close roads to highways, you can find it all with ease. Long distance travelling is just not needed when you’re staying at this luxurious development.

Starting at a superb price of Rs.35.04 Lakhs and going up to Rs.57.50 Lakhs, the Legacy Twin Arcs Phase 2 price is like an icing on the cake, as it offers high-end apartments at prices that are affordable and totally worth it. This development offers all that you deserve, a happy and modern lifestyle. You can opt for different payment options and easy home loans too.