Keller Williams Real Estate is moving!

LAKEWOOD RANCH — The major partners in Keller Williams Lakewood Ranch, Paul Cornuke and Steven Dutoit, have purchased the former Neal Communities offices at 8210 Lakewood Ranch Blvd. for more than $1.3 million as part of a new venture.Image

Keller Williams is leasing the space and will move in beginning Thursday. The business partners purchased the building as Red Vette Ventures, LLC, drawing the name from Dutoit’s prized 1967 red Chevrolet Corvette.

“I always like to pick a name that’s cute,” said Cornuke, who was dressed for work Monday, hammering along with construction workers as they completed renovations on the building. “I have the tool belt on as we speak.”

They chose to purchase the building now because “we practice what we preach,” Cornuke said. “It’s the best time to buy so we felt this was a great opportunity, what with the timing of our lease expiring.”

Red Vette Ventures is leasing the building to Keller Williams.

Neal Communities relocated to 5800 Lakewood Ranch Blvd., just south of University Parkway, said Leisa Weintraub, vice president of marketing for Neal Communities.

The majority owner observed that the real estate business seems to go in five-year cycles.

“This has been an extreme

ly long down cycle and we are having a great up cycle starting now,” Cornuke said. “Agents are getting back into the business now because we are seeing the up cycle now.”

The pair said they chose the location because of its central location and surrounding beauty.

“It has beautiful greenery and landscaping, yet you can walk across the street to Starbucks. It’s heaven on Earth,” Dutoit said.

The new location is big enough to house about 300 agents and to offer a place for companywide meetings.

“We always want to have a desirable place for people to work,” Cornuke said. “We are almost fully occupied already. The majority of agents have a home office. We can provide an office atmosphere if they want to come in and check on the computer.”

Dutoit said he was drawn to the nature surrounding the Lakewood Ranch building.

“There’s 46 oak trees on the lot and a lake on the back of the property,” Dutoit said. “The conference room looks out at this beautiful lake. There’s a picnic area under the oak trees and we’ll be setting up a barbecue grill for office events. The land is timbered and we are upgrading the landscaping. It’s the kind of an environment where you go there and you don’t feel like you’re in a commercial space at all.

The current Keller Williams office is moving from the former John Cannon building on Professional Parkway, less than a mile away.

Housing Inventory Shortages Start to Ease

A pair of hands holding a small house.  Real estate or insurance concept.

The percentage of homes for sale has risen 25 percent this year and housing inventories have started to outpace typical seasonal upticks, realtor.com® reports. 

Rising home prices likely are encouraging more home sellers to test out the market. The inventory crunch may be showing signs of easing with listings rising 5.8 percent in May. Still, the number of homes for sale is low by historical standards. Listings in May are still 10 percent below year-ago levels. 

The places where the number of homes for sale rose the most were Atlanta (rising 3.4 percent in May), Miami (2.8 percent), and Tuscon, Ariz. (1.8 percent). 

“Even with the increases, inventories in many markets remain tight, but any easing in the extreme shortages of the past year could ultimately cool the pace at which home prices have been rising,” The Wall Street Journal reports.

Meanwhile, median asking prices rose 4.8 percent nationally over year-ago levels, according to the report. Sacramento posted the highest increase in asking prices (rising 42.3 percent from April 2012) and Oakland (a 38 percent increase). 

 

 

Source: “Housing-Inventory Crunch Could Be Easing,” The Wall Street Journal (June 13, 2013

The percentage of homes for sale has risen

The percentage of homes for sale has risen 25 percent this year and housing inventories have started to outpace typical seasonal upticks, realtor.com® reports. 

Rising home prices likely are encouraging more home sellers to test out the market. The inventory crunch may be showing signs of easing with listings rising 5.8 percent in May. Still, the number of homes for sale is low by historical standards. Listings in May are still 10 percent below year-ago levels. 

The places where the number of homes for sale rose the most were Atlanta (rising 3.4 percent in May), Miami (2.8 percent), and Tuscon, Ariz. (1.8 percent). 

“Even with the increases, inventories in many markets remain tight, but any easing in the extreme shortages of the past year could ultimately cool the pace at which home prices have been rising,” The Wall Street Journal reports.

Meanwhile, median asking prices rose 4.8 percent nationally over year-ago levels, according to the report. Sacramento posted the highest increase in asking prices (rising 42.3 percent from April 2012) and Oakland (a 38 percent increase). 

 

 

To see all available homes for sale in Sarasota and Bradenton homes for sale,

call Angie Cegnar now at 941-556-5030 or email us at Amcegnar@gmail.com today!

 

 

 

 

Source: “Housing-Inventory Crunch Could Be Easing,” The Wall Street Journal (June 13, 2013)

4 Real Estate Trends for Summer 2013!

handoverAre you finally off the fence and doing a little home shopping? As the market  heats up and sellers regain control, here are a couple of trends to  consider.

Low mortgage rates

The 30-year fixed mortgage rate on Zillow Mortgage Marketplace is currently hovering near historic lows, at 3.78 percent. And while rates have  crept up this past week, they’re not going to skyrocket suddenly, says Erin Lantz, director  of mortgages at Zillow. “Even if the Federal Reserve starts to scale back its  stimulus program, the Fed will still help keep rates low for the remainder of  the year in order to accelerate the housing market recovery. As the Fed  withdraws support and the economy recovers, we expect rates will rise gradually  over the next 18 months.”

Slim pickings

As of February, slightly less than 2 million homes were for sale nationwide.  This represents a supply of less than five months (six months’ supply is  considered “normal”). During the same period last year, the supply was 6.4  months. In a dozen markets, there is less than a three-month supply of homes on  the market! Granted, rising home prices should lead to more inventory (and  ultimately more sales because it encourages new construction and encourages  homeowners to sell), but one key question is whether prices will rise enough so  that for-sale inventory will hit bottom and start expanding again.

Home stalking

As demand from home buyers grows faster than the supply of homes for sale,  many buyers are taking less conventional routes to find their dream home:  They’re knocking on the doors of homes they like, writing handwritten notes, and  tracking down the owners in hopes they may be willing to sell even though their  home is not technically on the market. Zillow’s Make Me Move® section,  where homeowners list their properties with a “dream” price, is seeing a flurry  of activity: There are now 148,000 listings, and contacts to owners are up 132  percent over last year.

Bidding wars

As many of the nation’s markets heat up, bidding wars are quickly becoming  the norm — especially in places such as California (San Francisco, Sacramento  and cities in Southern California), Boston, Washington, Seattle and New York.  This poses a challenge, in particular, for first-time buyers seeking entry-level  properties in Las Vegas, Tampa and other markets where investor demand is  particularly strong. Who do you think wins the bidding competition — investors  with all-cash offers or buyers who need to obtain financing and have the home  appraised at their offered price?

Read more:  thank you fox news

For more information on the current Real Estate Market in Florida, or to search for homes for sale in Bradenton, Sarasota and the west coast of Florida, call us now! @ 941-556-5030 ~ Angela Cegnar and Marty Garcia, The C & G International Realty Team. Keller Williams. Lakewood Ranch, Florida