JD Power Ranks RE/MAX #1

A question imany nquiring home buyers and home sellers have when they want to use the top real estate agency, in any market is "who's #1?". Many real estate companies market and advertise in the media stating that they are number 1 in the area. An independent survey can prove to be the best determinant. J.D. Power and Associates announced July 27, 2011 that RE/MAX ranked highest in customer satisfaction, for both BUYERS and SELLERS, in its 2011 residential real estate survey. The was performed with a national study of 4200 evaluations from 3,680 respondents showing that factors … [Read more...]

Home Prices Lowest since 2002

Click Here For Local Real Estate Market Report What is the true sign of real estate in today's market? An index of home prices in big metro areas has reached its lowest level since 2002, driven down by foreclosures, a glut of unsold homes and the reluctance or inability of many to buy. Many economists think prices nationally will drop at least 5 percent more by year’s end. Prices fell from February to March in 18 of the metro areas tracked by the Standard & Poor’s/Case-Shiller 20-city index. The nationwide index fell for the eighth straight month. After adjusting for inflation, … [Read more...]

Team vs Single Agent

When you hire Avery-Ayers and Associates to sell your Sarasota, Lakewood Ranch or Bradenton, Florida real estate, you are actually hiring 4 licensed and active Realtors and 2 client care professionals at the same cost of hiring a traditional single real estate agent. Comparing the team approach to the single agent model can illustrate the advantages of combining and leveraging resources, individual talents, office systems and synergy to provide superior real estate transactions. Contrary to popular belief, Realtors are not on call 24/7. In today’s market of labor intensive task such as … [Read more...]

Florida Foreclosures

A foreclosure or "REO" which means Real Estate Owned, means that the bank or mortgage company owns the property. These are homes which have been foreclosed on and the previous owner does not have any rights in the property. When you are considering the purchase of Manatee County foreclosures or Sarasota County foreclosures, there are two options available. The first option, is to go to a foreclosure sale auction, where the bank tries to sell the property on the "Court house steps" in a bid auction. The bank usually has a minimum bid amount they are looking for in the sale, and if … [Read more...]

Is the Real Estate Market Up or Down?

Everywhere we go, people want to know, "Is the real estate market up or down? We’ve been asked that question at dinner parties, social events, and even by fellow Realtors outside our market. Well the easiest statistics to follow are easily found on the MLS. The Manatee/Sarasota County Florida multiple listing statistics which includes, Bradenton, Lakewood Ranch, Palmetto, Ellenton, Parrish and Sarasota, shows 9045 single family homes were sold in 2009 as compared to 9986 single family homes in 2010. I would have to say that is an upsurge in sales. Total residential sales including … [Read more...]

Have You Hugged a Snow Bird Today?

The 2011 Florida Snow Bird season has arrived. This annual migration, dating back to the early 1900’s and publicized during the Thomas Edison era has evolved to represent an undeniable impact on our states economy. The Sarasota, Bradenton area of Florida is a very popular destination for folks from many frozen northern states, Canada and other international locations. To the dismay of many locals, the often distracted Snow Bird motorist has typically presented a challenge for impatient drivers and shoppers used to the tropical pace of summer weather. This year, our economy is recovering … [Read more...]

Call for ACTION

As middle class Americans struggle to maintain relevance during the current “great recession”, new challenges are looming on the horizon. A recent report issued Dec 1 by President Obama’s deficit reduction panel presents a list of proposals to reverse the current trend of our governments operational deficit. Last year saw the national dept rise to an unsustainable $1.3 trillion. The document, titled “The Moment of Truth” urges sweeping changes in government spending and revenue sources. Just as the Bush tax cuts are likely to be extended to protect a weak economic recovery, the next few … [Read more...]

It’s getting COLD!!!

Why live in Florida? We recently had a buyer client that was getting an FHA loan. When a borrower gets an FHA mortgage, they can use it for a primary residence only. The mortgage department called our perspective clients and asked them why they were moving to Florida and if this home would be their primary home. They answered the person on the phone; "Have you ever lived through a north state winter?" The person on the other line answered "no". "Well", my client answered, "if you had, you'd would know that that is a ridiculous question." The question is, why would anyone want to live … [Read more...]

Short Sale Timeline

Obviously the name, short sale, does not denote the amount of time it takes to complete a short sale. We have been assisting sellers with their distressed home sales since they became common on the market from 2007. We have helped over 40 homeowners close on their short sale transactions. From the time that we put a contract together between buyer and seller, the shortest time it has ever taken to get a written short sale approval in hand has been 2 weeks. However, this has been the exception not the rule. In the beginning of 2008, we had a transaction take took 2 years from contract … [Read more...]

Short Sales

Are short sales short? Negotiating a short sale between the seller and their lender takes skill, patience, and expertise. Everyone involved in the transaction needs to know what to expect. 1. The seller's credit rating will be negatively affected after doing a short sale, but not as much as with a foreclosure. We have heard estimates of a drop of 80-100 points off one’s FICO score. That kind of drop is far less damaging than how a foreclosure can affect your credit score. 2. The seller will receive a 1099 for forgiven debt and will owe taxes on the amount on their primary home, up to a … [Read more...]