Sarasota Real Estate - The Market Sees A Slight Reduction In New Home Closings

By Vanessa A. Doctor 

The residential real estate market in the Sarasota-Bradenton region, according to market analysts, began to overheat in late 2004 and 2005, and still continues to struggle because of the upsurge of speculative inventory created during that time frame. However, many say the positive news is that the market steadily reduced the level of finished vacant inventory during 2007.

The Sarasota market has seen a slight decrease in new home closings than other housing markets in the state, dropping only 14% since the peak that occurred in the second quarter of 2006, while the Tampa Bay market reported a 41% drop in closings from its first-quarter 2006. Two important demographics - retirees and foreign buyers, help to reduce the impact created by the lack of job creation, and helps to establish a more predictable level of demand.

Evaluating The Single-Family Home Closing For The Past Two Years

For the Sarasota-Bradenton area, the quarterly closings for single-family homes during the fourth quarter of 2007 tallied to 1,212 units, and represents a drop of 38.6% as compared to the 1,975 units closed during the fourth quarter of 2006. The annual closing rate was 6,492 units for the 12 months ending in December 2007, which analysts view is 13.6% less than the annual closing rate of 7,516 units tallied at the end of the fourth quarter of 2006.

Single-family home inventory, which is made up of homes undergoing construction, finished vacant units and model homes, totaled 3,890 units at the end of the fourth quarter of 2007, and represents a 7.2-month supply. The area's total housing inventory also fell by to 46.6%, as compared to the same period in 2006. The number of new homes under construction also dropped, from 2,382 units from the end of the fourth quarter of 2006 to only around 1,202 units at the end of 2007.

A Look At Lot Development Figures In This Area

Housing analysts note that the region's finished vacant inventory lessened by 31%, from 3,375 units at the end of the fourth quarter of 2006 to 2,329 units at the end of 2007. Vacant inventory also included second homes and investor homes that have not been occupied yet. A total of 684 lots were delivered to the Sarasota-Bradenton market during the forth quarter of 2007, as compared to the 2,960 lots delivered in the same period in 2006.

The inventory levels for vacant developed lots was placed at 36,967 units, which represents a drop of 3.6%, as compared to the 38,348 lots reported at the end of the same period in 2006. Housing market observers say that the inventory of vacant developed lots represents a 143.1-month supply, which is an increase of 75 months compared to the fourth quarter of 2006. While lot development in the region has slowed down considerably, lot delivery was still a bit higher than housing starts during the fourth quarter.

In light of the updated levels in both single-home closings and vacant lot inventory, the Sarasota-Bradenton region could be nearing the bottom of the market, however it will still continue to reduce inventory this year. Many regional housing analysts say that new housing starts would probably rise during the first or second quarter of the year, but will remain below new home closing levels.

Most agree that the Sarasota-Bradenton area is still a less expensive retirement haven as compared to areas like Naples, as retiring baby boomers will continue to increase demand, and whose numbers will continue to rise during the next five years.

http://siestakeyrealestate.com - Sarasota Real Estate

Vanessa A. Doctor from Jump2Top - SEO Company Article Source: http://EzineArticles.com/?expert=Vanessa_A._Doctor

Deciding Whether to Rent or Buy a House

By Jerry Warner 

Choosing whether you want to rent or buy a house can be a major decision, after all, there will be an expense over the years either way you go but you'll end up with vastly different circumstances depending upon which option you choose. In order to help you to make the decision, below you'll find some of the advantages and disadvantages of both renting and buying a house. Just keep in mind that this is a major decision, and that you should consider all of your options carefully before choosing the one that's best for you and your situation.

Advantages of Renting

When deciding whether you should rent or buy a house, you should consider the following advantages of rental property. In addition to being easier to find and negotiate than property that is for sale, rental property requires a much lower initial investment. There is no loan binding you to the property, and though you may have a lease for a certain period of time there is nothing else that will make you stay there after the lease has expired if you decide that you want to move. Additionally, you don't have to worry about many of the additional costs such as property taxes that are associated with property ownership.

Disadvantages of Renting

Of course, if you decide to rent instead of buy a house there will be some disadvantages that you'll encounter as well. One of the main disadvantages is the fact that while you live on the property you have no rights of ownership. Any modifications must be approved by someone else, and the property owner can often make any modifications that they wish so long as they fall within what is allowed by rental law. The money that you pay towards rent doesn't go toward a purpose such as paying off a mortgage; it's simply money that you're paying to someone else in order to stay in your home for another month.

Advantages of Buying

Obviously, if you want to rent or buy a house you should consider some of the advantages of owning the property that you'll be living on. Home ownership allows you to make all of the decisions within the law pertaining to what is and isn't allowed on your property. Additionally, you will be able to build up equity and establish your home's value should you need to take out a major loan in the future.

Disadvantages of Buying

Just like renting, buying a house has its disadvantages. While it's true that you'll be the owner of the property that you buy, you may be limited by the mortgage lender in regards to exactly what improvements or additions you make to the house until the mortgage has been repaid. You may also find that the added cost of property taxes and other home maintenance expenses is more than you were planning on; being overwhelmed by these costs can be dangerous, as it can also cause you to fall behind on your mortgage payments.

Jerry Warner writes general finance and loan articles for the Bad Credit Loans Online website at http://www.badcreditloansonline.co.uk Article Source: http://EzineArticles.com/?expert=Jerry_Warner

Why Is The Government Destroying The Housing Market?

By Kevin Morley

The Government in general and Gordon Brown in particular have done well out of the housing boom over the past decade. Stealth taxation via stamp duty and inheritance tax have enabled them to increase public spending faster than the economy has grown, while lax controls in the credit market have powered equity release to feed consumption growth in the 'spend not save' culture they have encouraged.

They readily blame the sub-prime problems in the USA for the current state of the UK housing market but we believe the real rot is much closer to home!

Northern Rock has little to do with the sub-prime debacle but everything to do with a business model the Government tells us was flawed, but which was regulated and controlled by the FSA and the Bank of England? Indeed the flawed business model they criticized Northern "Wreck's" management for, is precisely the same model they are now wrestling with. They can drop base rates but the real world is running off LIBOR, which is priced against toxic debt not political whim.

At the same time the uncontrolled inflation of house prices has encouraged off-plan investors and buy-to-lets while producing an impenetrable barrier for first time buyers. The Government has of course enjoyed dramatically higher Stamp Duty - £6.4 billion in 2006/7 - to squander on ever increasing Government (out of control) spending. When will they be made to measure the benefits achieved from their expenditure honestly and consider the costs to the economy?

Meanwhile the total lack of understanding of the new-build planning process means we are still building too few dwellings and those we are building are of the wrong type - 50 per cent flats compared with 15 per cent in 1996. Following this, new built flats are now selling at auction 26 per cent below their original selling prices while instead of building more housing starts are actually falling. As if this is not enough, their dogmatic insistence on introducing HIPS, in the face of the best advice from all stakeholders, has added insult to injury in a market already suffering from economic mismanagement over the last 10 years.

I leave you to debate whether all this is incompetence or a deliberate (but failed) attempt to micro manage one of the key drivers of the economy for political aims. Either way if the Government was a public company the senior management would be gone by now!

Quick Move Now Quick Move Now are one of the leading house buying companies in the UK. They specialize in providing a quick house sale and will buy my house. They will buy your house for 90% of its value and can turn around in 7 days. Quick Move Now Quick Move Properties Unit 15, Interface Business Park Bincknoll Lane Wootton Bassett Wiltshire SN4 8SY 0800 068 3366 http://www.quickmovenow.com Article Source: http://EzineArticles.com/?expert=Kevin_Morley

The Changing Face of Indian Property Market

By Wain Roy 

With more than fifty years of independence, India is rapidly emerging with a completely new outlook. Thanks to the growing real estate industry, the impact of urban development is not only being felt in the metros but also in the satellite towns. Renowned developers are making huge investments to bring about a complete revolution in the infrastructure of major towns and cities. Shopping malls, business centers, multiplexes are cropping up in large numbers thus contributing to this trend of emerging urbanization.

Reasons for this sudden boom in the property sector can be ascribed to the return of the non-resident Indians (NRIs), who find an avenue in this sector to invest their funds. Multinational companies are also setting up their bases across the country with cities like Bangalore, Pune, Hyderabad, Chennai, New Delhi, Gurgaon, Kolkata, Noida, and Mumbai in the lead. Consequently, real estate in these cities has become a spectator of some drastic changes.

Gone are the days when the Indian property market used to be unorganized. With major industrial big shots investing, the property market in India is setting up new examples for itself. The support of the Government has also been highly appreciable, with introduction of new policies championing the cause of home buyers and developers. The Tata, Wadia, and Godrej group apart, the Hiranandanis have made it big in the overseas market too. This positive trend would certainly be of great help to Indian builders for bagging international projects.

Construction activities across the country certainly match international standards. However, developers are on constant lookout for introducing additional or unique features in their projects. Six screen multiplexes, shopping malls, lifestyle homes; environmental-friendly e-malls are some of the instances to name. The stress on environmental-friendly lifestyle is growing day by day, where the chief aim lies in creating a green and natural ambience. The Mumbai-based builders like Raheja and Hiranandani are responsible for some mega township projects. On the other hand, Delhi Bangalore, Gurgaon, and Vizag have shown how a sudden property boom can be brought about. Kolkata and Pune are also not lagging behind. The Avani Group, Bengal Ambuja, and the South City builders have made outstanding progress in this industry. Gera Developments and Nyati Group are some of the renowned builders of Pune.

As the Indian property sector hots up throughout the country, more and more industries would find themselves investing in the sector. Plots are available either for sale or are leased out for long periods. Property owners are having a gala time if they own a plot in a prime zone in any of the metros. For instance, one can lease property in Kolkata or set up a plot for sale in Pune with almost equal benefit. It's time now for all the traditional buildings of the colonial rule to be dismantled... new infrastructure is ready to take over!

Wain Roy is an internet marketing professional expert in various industries like real estate, web design, finance, medical tourism, pharmacy drug and plot for sale in Pune Article Source: http://EzineArticles.com/?expert=Wain_Roy

Getting Closer To the Indian Real Estate Scenario

By Wain Roy 

The real estate market in India is experiencing its golden phase; thanks to the growing demand for infrastructure in the country. With healthy economic trends, both in the commercial and residential sectors, real estate has been successful to emerge as one of the hot favorite investment options across the country!

The commercial real estate demand in India is chiefly led by the growing services sector in the country. The Information Technology (IT) sector alone is believed to account for 150 million sq.ft. of space to conduct its operations throughout the country by the end of 2010. Another major factor contributing to the growth of commercial real estate is retailing. This industry is expected to grow beyond 25% in the coming years. With more than 50 shopping malls cropping up at the NCR, Mumbai, Bangalore, Chennai, Chandigarh, Ludhiana and Ahmadabad, real estate developers are looking forward to a phenomenal growth.

The scenario in residential real estate is equally appeasing. As the Indian middle class continues to expand, the demand residential unit grows by folds. Rise of income apart, the common people are benefited by the numerous home loan schemes offered by financial institutions like SBI, ICICI, HSBC, HDFC, etc. This is indeed good news for real estate developers, who will have no dearth of customers purchase to buy new homes.

The real estate industry has evolved itself to adopt corporate style of management. The developers are also approaching capital markets to raise capital for financing their big shot projects. For instance, DLF, Ansals, Parsvnath and Omaxe introduced their Initial Public Offering (IPO) with similar projects in the pipeline.

The support of the Indian Government has been encouraging- it has allowed 100% FDI in real estate projects. Besides, big foreign companies are also investing capital to operate their projects in India. A real estate consultancy reports that around USD 10 billion of investment in likely to be conducted in the real estate industry within the next two years. In fact, buying and selling properties in the metros have become a lot easier with real estate boom across the country. You can buy property in NCR, sell property in Bangalore, or even rent property in Chennai with equal ease. The coming years awaits even more unexpected upsurge in the real estate sector across the country.

Wain Roy is an internet marketing professional expert in various industries like real estate, web design, finance, medical tourism, pharmacy drug and sell property in Bangalore Article Source: http://EzineArticles.com/?expert=Wain_Roy

In This Home Buyer's Market Sellers and Buyers Can Win

By Keith Donald

The problems with selling homes in a home buyer's market are in the news everyday. While the politicians may think it is up to them to legislate the solutions, given a chance the market has a unique way of solving its own problems. Instead of looking to the government, mortgage lenders, or banks for help perhaps it is time to look to one another for some very simple, creative, and effective mortgage funding solutions.

This buyer's market is severely impacted by a tremendous credit crunch. One of the results is the crisis suffered by the investment bank Bear Stearns. You have probably heard by now about the buy-out of Bear Stearns by JP Morgan Chase at an astounding $2 per share. Bear Stearns' stock fell from a 2007 high of $158.39 to about $30 last Friday. The sale at $2 per share is not zero, but it is too close for comfort.

The dominoes continue to fall in what began as the sub prime mortgage crisis. Credit for everyone is much more difficult to get regardless of credit score. Underwriting guidelines typically require a 20% down payment, much lower debt to equity ratios, and six months of capital reserves. What is even more disturbing is the fact so many lenders don't have money to lend as a result of the credit crisis.

This high profile credit problem has the attention of both the private and the public financial sectors. Don't be surprised if we end up financing the recovery of the problems created by outrageous behavior by selfish and greedy individuals and businesses.

Let's quickly define the problem and a solution. Home sellers need home buyers. That is pretty simple right? When a property is for sale the normal question a buyer will ask a property seller is, "how much do you want for your property?"

In a home buyer's market like this one that is not the right question to ask. The question you must ask is, "how much is the property worth to me?" You see in a home buyer's market inventory exceeds the demand for property. In some markets the estimates are fifteen sellers for every potential home buyer.

According to the National Association Of Realtors there is enough inventory in the market right now to last ten months in the best circumstances. As you know these are not the best circumstances.

The most difficult reality to overcome for the current home sellers is the fact most properties are not as valuable as they may have thought. In truth a property value is determined by market demand, not by how much you owe. While it may be true that a property is not likely to have zero value, if it doesn't sell within an acceptable time frame, is there much difference? If you can't cash in when you need to, the value may as well be zero.

Home sellers need home buyers. In a market like this one there is tremendous emotional turmoil when a house or property gets no traffic, no interest, and no offers to buy. When a prospective home buyer makes an offer to purchase your property, that is a very good thing. At least you have a starting point towards the sale of your property.

It is extremely important for the seller to understand there are many ways to sell your property. In most cases it will be either a cash sale or a terms sale. If you expect a "cash" sale, be prepared to discount your sale price. How much of a discount depends on your situation. Consider the location, condition, and price of your property.

If you need debt relief and a full price sale, you can expect to structure some sort of "terms" sale. This arrangement will get you closer to top dollar for your property, but it will take a little more time to cash out.

A clear understanding of what your particular circumstances are will make it much easier for you to effectively negotiate for the sale of your property. It is not as simple as running comps, establishing a value, and adding on to the sale price to cover ancillary costs.

Lots of properties are over financed, or worth less than the mortgage balance. That is a major reason why Bear Stearns was sold for $2 per share. Too many mortgage backed securities have inflated property values. By contrast, too many foreclosures are deflating property values.

The property seller must have a clear understanding of what your objectives are relative to the sale. This will help you determine whether a "cash" or "terms" sale provides the best solution for your situation.

The property buyer must make sure your financial home work has been done effectively. This is a great time to determine how much you can afford to invest in home ownership. Work the numbers, and be sure to make arrangements for savings and investment funds in your cash flow projections. If you don't how will you be able to handle unexpected emergencies?

If you have resources that allow you to offer both a "cash" solution and a "terms" solution, that would be ideal. If not, simply make a well researched and constructed offer to purchase the property.

If you are a potential home buyer, this is the perfect time for you to find the property you really want, to organize your resources, to make an offer that is almost impossible to refuse. Every offer needs to be considered by the property seller. The lenders are intimately familiar with the problems in the housing market. Taking more properties back in foreclosure will not solve their problems. Getting properties sold will solve the problems of everyone involved. Home buyers this is your time. Take advantage of it.

Copyright © | 2008 | TDO Properties, LLC | All Rights Reserved

Keith Donald is a professional in private real estate financing. He will consult individuals and small businesses in structuring private paper transactions and turning private paper assets into cash. Mr. Donald is available to assist you with the creation, purchase, and sale of real estate notes. He can be contacted at: E-mail: http://www.Cash-Now-Seller-Financing.com/contactus.html Web Site: http://www.Cash-Now-Seller-Financing.com Article Source: http://EzineArticles.com/?expert=Keith_Donald

SEO and Real Estate Companies Helping Each Other in Progress

By Jron C. Magcale 

Real Estate marketing has gone from papers to cyberspace, as the internet gives the real estate market a significant boost to its surroundings. It is a rather common thing that the internet becomes a tool on marketing, given the power that it offers to the market, internet reaches everywhere, not just locally but worldwide. It serves as a great source of information for anything that goes around the web, real estate like everyone else relies on the internet as well. Believe it or not it is the best source nowadays. Right now real estate websites have point their guns to the internet market. As they try everything from blogging to advertising and now the growing popularity of SEO or Search Engine Optimization have draw some real estate market attention.

SEO now has become a reliable partner for real estate marketing that is making an entrance in the internet marketing craze. As they try to be a big help to gain search engine visibility and website popularity. The basic thought of a search engine optimization company is that they exchange links from other website to gain traffic and gain a spot at the top page of search engines such as Google and Yahoo! This paves way to the advertising and marketing front of real estate that is now become a popular and in-demand trend. The SEO techniques are now being utilized to be some kind of a useful tool for internet marketing.

A number of big time real estate companies have teamed up with SEO companies to gain the advantage in the real estate market. They are gaining the edge that the technology is offering us. Now, the demand to it has been big and the people who invest in the market prove otherwise. The SEO companies give a strong impression on giving the real estate companies the added plus for internet marketing, thus giving them an overall edge on their market. A great deal of help in information has been the root on this tandem as they both help each other in their line of business. With the growing trend of internet marketing it is a more of a demand than anything else because it provides big help.

The big dogs of real estate and SEO have been trying to create a bigger trend that in time will be more productive and useful for both markets. The reason behind its success is the related help that it gives and contributes to their respective economies, Real Estate for its market and SEO for its business, they both need each other to succeed in the tech biz because they are both gunning for the consumer's attraction.

Jron Magcale

http://jump2top.com

Jron c. Magcale from Jump2Top - SEO Company Article Source: http://EzineArticles.com/?expert=Jron_C._Magcale

Blogging for Real Estate Marketing Brings Out Great Ideas

By Jron C. Magcale 

Common knowledge dictates that technology offers so much to our daily lives that it gives us the given advantage that helps us in many different ways, be it on our home, school, work etc. Technology is equals to innovations, and innovations give us advantage and advantage gives us edge. For more than a decade now the internet has been a huge tool for our lives works, everything is in the internet, even the slightest of information can be found there. Everything can be found in the internet nowadays. Pictures, movies, articles, tips and everything that involves information, it has been a valuable tool and now even in Real Estate marketing it plays a big part and gives the experts the edge on giving the home buyers seeking for much needed information options.

Real estate marketing using blogging, has been the latest trend among real estate experts. For those who are guarding the real estate progress now opts on making blogs about the market which have done wonders for it. Now, information about your local market is visible in blogs. So how does blogs help the marketing for real estate anyway? Well, if you are an internet enthusiast you'll know what role blogs play in the World Wide Web, you'll be surprised how much information goes into blogs. Everything now is being blogged, different topics in assortment of ways; blogs have been an important part of getting information nowadays. There are so many blog sites that have surfaced to cater the needs of bloggers.

In real estate marketing, the help that blogs gives to investors and realtors is significant, because blogs gives away everything when it comes to information, tips, numbers, stats, news, personal comments, overviews, reviews, everything name it. What makes it so great is that the fact that it came from a personal point of view, it comes to personal comments so you know there is no sugar coating. What makes it better is that there no restrictions so people who blogs about the market tells what they really feel with full honesty. It marketing it gives the home buyers important information regarding their needs, which makes it a bonus for people if they can get tips and some helpful facts.

Real estate marketing using blogging plays very significant role on realtors and investors, so more and more people blog about the business because they know that if they blog it will reach out to many people and if many people knows they will be aware of it and it will stem to reach more people to get a taste of the information that is laid out in blogs. Right now blogging acts as advertisement as well, it is now the base of internet-based marketing and it's still growing. It is just nice to have such innovation that helps the market and the people as well.

Jron Magcale

http://realestatepr.org

Jron c. Magcale from Jump2Top - SEO Company Article Source: http://EzineArticles.com/?expert=Jron_C._Magcale

Real Estate Appraisals 101 - A Simple Guide for Everyone

By John Marsden

Even though this seems obvious, a definition is a good place to start with such an important topic.

A real estate appraisal is a process to determine the value of a home or other property for pretty much one of three reasons:

1. A potential borrower wants to borrow money against the value of a property.






2. A person wants to buy or sell a house or other property.






3. Someone is involved in a family situation (such as executing a will) and they need to determine a property value.

The person who actually makes the valuation of the property is an appraiser, state licensed and regulated, trained, and experienced in real estate in the area where the property is located.

There is a big difference in appraisers, based on their training, experience, and attention to detail. The opinion of value in an appraisal report is an estimated fair market value. In other words this is the price a normal buyer would expect to pay a normal seller for the home if it were for sale. The appraiser uses local market information to arrive at this opinion of value.

Real estate appraisals are conducted for commercial, residential, and industrial properties, including leased agricultural trust lands, but for most people, what they really need is a valuation for a home. they want to be able to buy one or sell one or borrow against one.

Real estate appraisals are used for buying and selling while an insurance value appraisal is for determining insurance coverage amounts. And while there is often a degree of mystery in how they are conducted, real estate appraisals are a necessary step in the property buying process. There is a lot of confusion out there regarding the truth about appraisals.

Real estate appraisals are the next best thing to having your own private real estate assistant and when you are looking for one, reputation is everything. Without using an appraiser with a great reputation, you always run the risk of having your property over or under valued. While this might seem like a great deal at the time, when it comes to your property and your finances, you really only want the truth.

A real estate appraisal gives you a professional view of how much someone will offer or ask for a property in your area. With true professional appraisers, you will not only learn about the valuation methods used in your appraisal, but also understand what that value means in the specific situation for which you need the valuation.

Reputable appraisers will share all the information they have obtained with you and will go out of their way to watch out for the best interests of all the parties involved in the transaction. Reputable appraisers will not take sides in any negotiations because the truth is their reputation rests upon yours and the real estate agents referrals. In my personal experience, a professional reputable appraiser is worth usually double or triple the fee they receive, making their service one of the best bargains in the real estate world.

And the best of the best will answer any question you have, honestly, truthfully and in language you can understand.

John Marsden is an internet real estate writer and investor who lives in the Palm Springs area. Whenever he needs the services of a Certified Real Estate Appraiser he always calls on Gregory Carver, the best of the best who has conducted many a Coachella Valley Appraisal and is ready to show you the same great service John has enjoyed. Article Source: http://EzineArticles.com/?expert=John_Marsden