Longboat Key luxury awaits you! New Listing

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Longboat Key luxury awaits you! Don’t miss the opportunity to make this your dream home in one of the most sought after neighborhoods on  Longboat Key! Southern exposure fills this 3 bedroom 2 car garage residence with generous amounts of light. Just off the intra-coastal waterways, no bridges to Sarasota Bay within minutes to the Gulf of Mexico! The Barrel Tiled roof and circular driveway makes for a grand entrance. But beware! As soon as you move in, all of your relatives  will soon be making a visit! You will fall in love with the large open entryway as well as the front doors in the dining room leading out to the covered porch area.  Updated tile and shower doors as well as double sinks in the master bathroom with an over sized closet.  This is the perfect place for entertaining! Just fire up the grill around the over sized screened pool and patio area.  This home also boasts a walk around dock right in your backyard with a fishing station for a fun filled day fishing. Country Club Shores also has Deeded Beach access as well as a short distance to the fine dining and shopping area of St Armand’s Circle

 

 

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For more information or to schedule a showing call the C & G International Realty Team today! 941-556-5030 

International Sales key to Florida’s Housing Market

International real estate deals made up 8 percent of all existing homes sales in Florida over a one-year period ending in July 2013, according to Florida Realtors®’ recently released “2013 Profile of International Home Buyers in Florida.” By dollar volume, international real estate transactions made up 9 percent of sales over the same period.

The report is based on an annual study done by the National Association of Realtors® (NAR) in cooperation with Florida Realtors. A total of 977 Realtors responded to this year’s survey conducted July 9-Aug. 16, 2013.

For the study, foreign buyers were defined as non-resident foreigners – individuals who purchase property in the U.S. but live here only part of the year. These buyers typically use the property as a rental unit, vacation unit or both.

The international real estate market is important to Florida. Nationwide, 61 percent of all reported foreign sales take place in five states: Florida, California, Arizona, Texas and New York, according to NAR’s larger study on international homebuyer activity in the U.S. Of those five states, Florida has the largest share: 23 percent of national sales to foreign buyers closed in the Sunshine State.

For the 12 months ended July 2013, existing home sales in Florida – single-family homes, townhomes and condos – accounted for 327,350 transactions worth $74 billion dollars. Of that total, there were 22,572 transactions worth $6.4 billion dollars to foreigners.

Prices paid by non-resident foreign buyers tend to be higher than domestic buyers, though overall, international sales have been down due to the worldwide recessions, according to NAR.

Report highlights

  • Two in three (63 percent) of Realtors in Florida have international clients, compared to the national average of 27 percent.
  • Of the Realtors who have international clients, 33 percent (one in five state Realtors) said that international transactions made up 26 percent or more of their business compared to 12 percent of Realtors nationally.
  • 80 percent of surveyed Realtors said that international clients found Florida property less expensive than similar property in their home country. Overall, foreign buyers say the U.S. residential housing market provides a good value.
  • 31 percent of respondents say Florida’s percentage of international clients has increased in the last five years, compared to 21 percent at the national level.
  • Canadians lead the way (30 percent of total Florida international sales) as the largest source of buyers, followed by Venezuela (8 percent), Brazil (7 percent), and the U.K. (6 percent).
  • International buyers focused most of their effort in Miami-Miami Beach (21 percent of international sales in Florida), Orlando-Kissimmee (14 percent) and Fort Lauderdale (9 percent).
  • International buyers paid a median price of $216,477 for a home unit in Florida compared to the state’s overall median price of $144,074, and the U.S. median price of $187,483. In general, buyers from Brazil, Venezuela and Western Europe purchased above the median price.
  • 84 percent of international transactions are cash sales.
  • International buyers had a preference for detached single-family homes (47 percent of Florida foreign sales), followed by townhouses (11 percent) and condominiums (34 percent).

Article courtesy of: http://www.prnewswire.com/news-releases/

 

If you know of anyone thinking about purchasing a holiday home/ vacation rental call us now for more information 941-266-3872

The C & G International Realty Team: Angela Cegnar/ Marty Garcia/ Nancy Curtis/ Theresa Shelley

Keller Williams Lakewood Ranch. Sarasota Real Estate Market

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

Are banks easing up on mortgage standards?

Are banks easing up on mortgage standards?

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NEW YORK – March 6, 2013 – A very tight mortgage lending environment “promises improvements this year as the drivers of tough credit standards reverse,” according to Moody’s Analytics ResiLandscape Report. Still, lending will remain tight by historical standards, the report notes.

Tight underwriting conditions have been one of the main obstacles to a housing market recovery. But the credit agency says that those conditions began to ease somewhat this year and likely will continue to do so.

“Rising house prices give lenders more breathing room to extend credit,” the analysts at Moody’s noted.

Over the past year and a half, large lenders have loosened up or, at least, held standards stable on prime loans for mortgage originations, according to the Survey of Senior Lending Officers.

Aiding lenders’ confidence is that mortgage delinquencies have fallen to pre-recession rates.

“Being right-side up on the mortgage improves a borrower’s credit profile. It also lowers the risk of default and increases the likelihood of trade-up buying,” according to Moody’s report.

Mortgage supply will remain constrained, but “improved consumer credit quality combined with steady growth in jobs, low mortgage interest rates and modestly rising house prices makes it clear that more households will be able to qualify for a mortgage,” Moody’s said. “Greater credit availability will, in turn, help drive stronger home sales and stronger price appreciation.”

Source: “Slight opening of credit spigot aids housing outlook,” HousingWire (March 4, 2013)

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for more real estate information visit us now on www.cegnarsellsflorida.com

http://www.floridarealtors.org/NewsAndEvents/article.cfm?id=288341