Venice Area Homes Blog

Venice FL - Southwood 3/3/2 with pool on lake in sunny Florida!

Tue, 22 Nov 2011 14:48:30 -0800

3/3/2 Southwood, Venice FL

4975 Laurel Hill Drive, Venice FL 34293

This price allows you to start building your appreciation immediately. Priced below county assesed value, this lakefront home in Stonecastle boasts over 2600 sq ft of living space. The cook will appreciate generous working space and storage in kitchen with granite counters. Enjoy calming lake views from living areas and master bedroom. On those rare occasions cozy up to the wood burning fireplace in the family room. Other amenities include tile flooring throughout, central vac, tray ceilings with oversized bedrooms. Beautiful swimming pool with lakeview and mature fruit trees. The gated community of Stonecastly at Southwood is conveniently located to great shopping, world class golfing, fabulous local dining, and short drive away from Sarasota Cultural activities. Beach goers have many beaches to choose from including Manasota Beach, Venice Beach, Nokomis Beach and USA's top rated beach - Siesta Key. This is Florida living at it's best.

View more photos at www.FindVeniceFLHomes.com.

Serving customers in Venice Florida, South Venice, Osprey, Nokomis Florida, Casey Key, Manasota Key, Englewood Florida, Rotonda West and North Port communities. Call me to list your home for sale, answer questions regarding steps you can take to AVOID FORECLOSURE or answer any general questions you may have about real estate.

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FHA Loan Limits Restored

Sun, 20 Nov 2011 07:44:28 -0800

Today I received an email from the National Association of Realtors Realtor Action Committee stating that Congress restored the loan limits for FHA. Realtors have been working hard to help preserve this right and finally our hard work has paid off. This is a big step towards our real estate market recovery. Below is the full letter I received.

"Last night Congress restored the loan limits for the Federal Housing Administration (FHA) for two years.

As you know, in late September the FHA, Fannie Mae; and Freddie Mac loan limits were reduced in 42 states pricing potential home buyers out of the American Dream of home ownership and holding back the housing recovery.

NAR immediately went to work with the goal to get the loan limits restored in Congress. For weeks that goal seemed unlikely.

You, and countless other REALTORS® like you along with YOUR leadership and YOUR management team worked to educate Congress that well-qualified buyers didn't need yet another hurdle to access affordable mortgage financing.

They finally listened. Because we were persistent. And because we were right.

The reinstated FHA loan limit formula and cap change will help make mortgages more affordable and accessible for hard-working, middle-class families in 669 counties in 42 states and territories, where the average loan limit reduction after the reset last month was more than $68,000. The provision reinstates the FHA loan limits through 2013 at 125 percent of local area median home prices, up to a maximum of $729,750 in the highest cost markets, the floor will remain at $271,050. However, Congress chose not to apply the loan limits restoration to Fannie Mae and Freddie Mac. Fannie-and-Freddie-backed mortgages will remain at 115 percent of local area median home prices up to $625,500.

The bill also provides for a short-term extension of the National Flood Insurance Program through December 16, 2011. NAR will continue to press Congress to use the additional time to complete their work on a five-year reauthorization of the program, which ensures access to affordable flood insurance for millions of home and business owners across the country.

I know that when we work together we can accomplish anything we set our minds to in order to preserve, protect and defend the American Dream of Home Ownership."

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Casey Key Florida Real Estate Market Update

Thu, 29 Sep 2011 15:15:34 -0700

JUNE JULY AUGUST

AVERAGE SOLD PRICE $950,000 $4,562,500 $1,536,667

LOWEST SOLD PRICE $950,000 $1,550,000 $ 700,000

HIGHEST SOLD PRICE $950,000 $7,575,000 $1,960,000

AVERAGE DAY ON MARKET 258 83 676

AVERAGE LISTING PRICE $3,822,800 $3,692,500 $2,096,333

LOWEST LISTING PRICE $1,175,000 $990,000 $695,000

HIGHEST LISTING PRICE $6,499,000 $6,395.000 $3,999,000

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Englewood Florida's Manasota Key - Real Estate Market Update August 2011

Sat, 24 Sep 2011 12:59:57 -0700

Summary of Sold Homes for Manasota Key Florida

Sold Date

Address

Bed/ Bath

Year Built

List Price

Sold Price

% Diff List vs. Sold Price

Days On Market

01/24/2011 2480 Alamander 3/2 1979 $128,900 $128,900 0.00% 120*

02/23/2011 6155 Manasota 3/4 2007 $1,390,000 $1,350,000 -2.88% 405

02/28/2011 8075 Manasota 4/3 2011 $449,900 $400,000 -11.09% 47

03/25/2011 1755 Manasota 3/2 1978 $125,000 $125,000 -0.00% 74**

04/15/2011 1710 6^th St 3/2 1997 $300,000 $240,000 -20.00% 149

04/27/2011 1724 Fessler 3/2 1977 $280,000 $150,000 -46.43% 802

05/05/2011 8300 Manasota 2/3 1950 $1,500.000 $1,000,000 -33.33% 265

05/27/2011 1403 Manasota 3/2 1978 $125,000 $125,000 0.00% 53**

07/15/2011 2660 Alamander 2/2.1 1989 $269,900 $260,000 -3.80% 41

08/23/2011 1774 Gale St 2/2 1987 $219,900 $197,00 -11.62% 74

08/26/2011 1730 Manasota 2/2 1976 $109,000 $102,000 -6.86% 251

09/02/2011 725 N Manasota 2/2 1977 $995,000 $775,000 -28.38% 1

09/16/2011 2560 Lemon 3/2 1992 $149,900 $160,000 +6.31% 119*

Summary of Activity for Manasota

Date Range

#Sold

Average Price

# Now For Sale

Average Price

#Under Contract

Average Price

01/01/11-06/28/11 8 $441,738 69 $1,738,072 4 $312,950

06/28/11-09/24/11 5 $257,333 46 $1,766,991 5 $1,308,760

Just a Note...

What a great time of year. The air gets crisper, fall festivals fill the calendars, the back to the school rush is done and everyone seems more settled into life's routines. The summertime fun is behind us and the holiday rush hasn’t yet begun, but the days are sure and steady, don’t you think?

Sure and steady can be a good thing, especially when you are considering big decisions like buying or selling a house. Know I’m here if you need me, and a steady force you can count on when you’re weighing all your options. Also know that when you’re looking for additional resources for your home or family, I’ve usually got some great recommendations you can lean on as well. Whether it’s a roofer or plumber, handyman or even tutor, you’d be surprised how many names and numbers I might be able to help you with.

As a real estate professional, I am blessed to get to know people from all walks of life and if I don’t have a referral for you, I’m sure one of my colleagues will. Just call me and ask. My business is more than just real estate — it’s helping people just like you in whatever way I can each day. Have an amazing October, and remember, I’m just a phone call away!

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Critters in my Englewood Florida backyard

Sat, 24 Sep 2011 12:18:43 -0700

Took this photo of a huge spider that is at the door way to my home office. This guy is very scary and I believe him to be a Banana Spider. What do you think my Venice Florida Realtor and friend, Jim Bath? He also just found himself some breakfast. This is fasinating as well as I wish he move to someone else's yard. Do you know what kind of spider this is?

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Venice Florida Real Estate Market remains stable in August 2011; inventory drops to new decade low

Sat, 24 Sep 2011 12:13:47 -0700

A steady drop in property inventory for sale, combined with a stable, sales demand in the Venice/Englewood real estate market, is pointing toward normal, healthy property appreciation in the coming months. An analysis of sales, prices and inventory figures reflects a market in recovery, led by a declining pool of available properties on the market. The inventory of available properties for sale has been dropping for the past nine months, and hit another decade-low figure of 2,451 in August 2011. Sales during the past 10 months have averaged about 400 every month, and exceeded over 500 two times. As a likely result of consumer demand and dropping inventory, the median sale price for single family homes and condos has recovered from the lows reached in January 2011, when both categories showed a median price of $132,000. The latest monthly figures in August showed a median price of $152,000 for both single family homes and condos – a 15.2 percent improvement from the lows of only seven months ago.

No one has a crystal ball, and it wouldn’t be wise for anyone to make a solid prediction on the future of our market. But we can clearly see the normal market forces of supply and demand as Venice/Englewood is becoming a seller’s market, in which price appreciation would be expected.

With only a quarter of the properties on the market compared to four years ago, competition for properties has been dramatically increased, and agents are now fielding multiple bids on many properties. The months of inventory dropped slightly to 7.3 months from last month’s figure of 7.6.4 months. This statistic represents the time it would take to sell the existing inventory at the current month’s rate of sales. The 6 month level is traditionally a point which represents equilibrium in the market between buyers and sellers. For properties priced under $350,000, most price ranges are indicating a seller’s market has returned. This is in marked contrast to three years ago, when a buyer’s market was in full force. In August 2011, pending sales were 395 up compared to July 2011 at 321. “We are coming out of the usually slower summer sales months with a much improved, healthier real estate market,” said Michael Bruno Sarasota MLS President. “The fall should prove to be steady and strong. The only thing continuing to hold back our market from even bigger numbers is the percentage of distressed sales, which is still higher than we’d like to see.” The overall percentage of distressed sales (foreclosures and short sales) dropped slightly in August 2011 to 17.33 percent from the 18.17 percent figure in July 2011. That compares to a 12 month high in December 2010 of 22.72 percent. “The non-distressed properties are still selling for two or three times more than the short sales and foreclosures,” explained Bruno. “This is a huge difference, and naturally pulls down the overall median sale price. But everyone remains hopeful that the distressed inventory, which now represents less than 20 percent of the total available properties, will start to drop rapidly in the coming months.

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APPRAISALS vs. BPOs: Can we please put an end to this insanity?

Tue, 20 Sep 2011 10:21:41 -0700

Patty Da Silva, CDPE - Davie REALTOR® - Certified Distressed Property Expert wrote an excellent post on Appraisal vs BPOs and the on going problems short sale agents are facing with each and every short sale we do. Based on the amount of comments Patty received this is a huge problem that lenders seem to be ignoring and desperately needs regulation. Thank you Patty for excellent post.

Via Patty Da Silva, CDPE - Davie REALTOR® - Certified Distressed Property Expert (BROKER of Green Realty Properties® - 954-667-7253):

Today I want to address a question that I have long wondered about and have no good answer for, and that is why are BPOs ordered by lenders for short sales instead of appraisals?

Let’s think about this, and look at a few examples. When an investor, such as Fannie Mae, "invests" in a mortgage loan, they won’t accept a loan without an appraisal. Similarly, before a lender approves a loan, they don’t order a BPO, they order an appraisal. The most puzzling and irrational example is when the buyer and seller have the same lender...which is common with the larger lenders. I have seen the same lender, in the same transaction, order a BPO on the seller’s side, and then turn around and order an appraisal on the buyer’s side. Of course the BPO is always inflated, and somehow the same property has suddenly lost $50,000 in value in the weeks it took for that lender to approve the short sale. Why do BPOs even exist as the deciding factor on a short sale transaction?? Why can’t appraisals be ordered by all sides? Some can argue because they save time and money, but do they really?

For argument’s sake let’s say it costs $100 to hire a BPO agent to do a BPO, and roughly $400 to hire an appraiser to do a proper appraisal. It costs $100 to hire someone who isn’t necessarily licensed (and definitely not regulated), to spend less than 5 minutes in a house, and to not take into account all the factors an appraiser would. I have heard BPO agents say that they do 500-600 BPOs a month. That’s impossible for ONE person to do! We have all heard that some of these BPO agents hire (unlicensed) people to drive around and take pictures of the outside of the property, and I have actually seen BPO agents recruiting these drive-by photographers on Craigslist.

Now let’s juxtapose the BPO agent against the appraiser. An appraiser is a qualified professional who goes through serious training, and then is supervised for two years before being able to work on their own. Plus the appraiser’s sole objective is to appraise the property; they don’t do it in hopes of getting REO listings from the banks. Appraisers are qualified to appraise, take the time to take all factors into consideration, and generally speaking, give fair market values. They are regulated and are subject to consequences if they don’t do their job right.

Don’t get me wrong, I know that there are bad appraisers and great BPO agents, but that’s not the norm. We are in a serious mess and its being exacerbated for what? Lenders think that they are saving time and $300 per property, but in reality, thousands of hours are wasted disputing BPO values and getting nowhere. It takes time to dispute a bad BPO value on a file, months to resolve the issue with the lender… months that the property sits on the lender’s books, the sellers and buyers are left in limbo, while values continue to drop.

Can’t we put an end to this insanity? Please! Lenders/Investors are losing thousands and thousands of dollars on short sales and foreclosures, yet they are worried over a $400 appraisal? Am I the only one who is confused about this lack of common sense?

Lender and Investors: PLEASE…JUST ORDER AN APPRAISAL AND HELP US HELP YOU!

Help lots of people and have a great day!

Patty Da Silva, CDPE©, RESS®, AHWD®, e-PRO®, GREEN, CFS, TRC, RSPS

BROKER - REALTOR® Serving South Florida ::: 954. 667. SALE (7253) ::: Green Realty Properties®

Visit www.PattyDaSilva.com &www.GreenRealty.net for SouthEast Florida's best properties.

Copyright © 2008 - 2011 By Patty Da Silva, CDPE©. All Rights Reserved.

Legal Stuff: This article (Contents) reflects the opinion of the author and it is not to be considered legal advice. The author is not an attorney or a CPA. If you are in need of legal or tax advice, it is recommended that you to contact a trusted professional advisor.

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A Good One On Bank of America... (You Needed a Smile)

Sun, 11 Sep 2011 10:13:01 -0700

Thank you Mike Jones of Tucson AZ for an interesting story on the history of the credit card. I try not to use these anymore unless I am going to be able to pay in full at the end of the month.

Via Mike Jones (SUNSTREET MORTGAGE, LLC):

~ MasterCard Stock Hits 52 Week High August 3, 2011 ~

Okay. You need a smile, and I'm here to help out. Credit on demand was the stock market winner today, keeping the market from having its longest losing streak since 1978.

Do you know how Credit Cards came to be? I have a Bank of America story for you...

The year was 1958. Bank of America wanted to get into the credit card business.

Diners Club, the very first credit card, was established in NYC in 1950 by a man named Frank McNamara. It was accepted at its outset by just 14 restaurants in New York, but within two years, companies had begun to realize the power of credit on demand, and Diners Club had grown dramatically in usage. Some 400 restaurants and about 200 car rental agencies now accepted payment by credit card.

McNamara believed that credit cards were a fad that would fade over time, and when he was offered $200,000 for his share of the business, he sold out. (His heirs would like to turn him over in his grave.)

But I digress. A man named Joe Williams was a Bank of America employee in California in 1958, and Joe had an idea. Bank of America would corner the west coast market for credit cards by giving one, unsolicited, to every person in in the fine town of Fresno, California.

Bank of America mailed out 60,000 credit cards. (This was before people had credit scores.) The fine print on the credit cards, each of which had a credit limit of $300, made the cardholder liable for all charges to the card, including fraudulent charges. The bank couldn't lose.

If big is good, bigger must be better, yes? Within 18 months, Joe Williams and his bosses expanded the credit card "drop" program dramatically, and 2,000,000 cards were sent, unsolicited, to citizens of California.

Unfortunately for BofA, 20% of the cards immediately went delinquent. "Hey," people thought, "free money!" The bank was ill prepared to deal with delinquency on accounts where nothing could be repossessed. They were even less prepared to deal with credit card fraud.

Bank of America lost nearly nine million dollars on its credit card launch, and Joe Williams was looking for employment elsewhere. (See? I told you I would make you smile!)

Bank of America recovered, but don't you wonder whatever happened to the BankAmericard? Bank of America changed the name to VISA in 1976.

Today, we Americans have more than six hundred million credit cards in our pockets, wallets and purses. Credit on demand wasn't a fad, and a card is swiped somewhere in the world ten thousand times each and every second!

I just thought you might like to know... :)

_____________________

I'm Mike in Tucson, your preferred Tucson Arizona Mortgage Lender

NMLS #223495

SUNSTREET MORTGAGE LLC ~ Correspondent Mortgage Bank
Offices in Mesa, Tucson, Sierra Vista & Nogales

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If They Could See Us Now!

Sun, 11 Sep 2011 09:59:55 -0700

Thank You Pamela Cendejas, Second Self Virtual Assistance for a wonderful post on how much has changed from 1955 United States to 2011. It is certainly eye opening.

Via Pamela Cendejas, Second Self Virtual Assistance (928) 692-3235 (Second Self Virtual Assistance):

A friend of mine emailed the following to me today. Thought you might get a kick out of it:

Comments Made in the Year 1955!

I'll tell you one thing, if things keep going the way they are, it's going to be impossible to buy a week's groceries for $10.00.

Have you seen the new cars coming out next year? It won't be long before $2,000.00 will only buy a used one.

If cigarettes keep going up in price, I'm going to quit; 20 cents a pack is ridiculous.

Did you hear the post office is thinking about charging 7 cents just to mail a letter.

If they raise the minimum wage to $1.00, nobody will be able to hire outside help at the store.

When I first started driving, who would have thought gas would someday cost 25 cents a gallon. Guess we'd be better off leaving the car in the garage.

I'm afraid to send my kids to the movies any more. Ever since they let Clark Gable get by with saying DAMN in GONE WITH THE WIND, it seems every new movie has either HELL or DAMN in it.

I read the other day where some scientist thinks it's possible to put a man on the moon by the end of the century. They even have some fellows they call astronauts preparing for it down in Texas .

Did you see where some baseball player just signed a contract for $50,000 a year just to play ball? It wouldn't surprise me if someday they'll be making more than the President.

I never thought I'd see the day all our kitchen appliances would be electric. They're even making electric typewriters now.

It's too bad things are so tough nowadays. I see where a few married women are having to work to make ends meet.

It won't be long before young couples are going to have to hire someone to watch their kids so they can both work.

I'm afraid the Volkswagen car is going to open the door to a whole lot of foreign business.

Thank goodness I won't live to see the day when the Government takes half our income in taxes. I sometimes wonder if we are electing the best people to government.

The fast food restaurant is convenient for a quick meal, but I seriously doubt they will ever catch on.

There is no sense going on short trips anymore for a weekend. It costs nearly $2.00 a night to stay in a hotel.

No one can afford to be sick anymore. At $15.00 a day in the hospital, it's too rich for my blood.

If they think I'll pay 30 cents for a haircut, forget it.

Hope you enjoyed these 1955 statements. What do you remember about the "good ol' days"?

Google me!

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Not a Short Sale - Nokomis Florida

Sun, 11 Sep 2011 09:51:46 -0700

What a deal, cute as a button and clean as a whistle. Ready for you to move in. Nice backyard great for fun partys and BBQs. Minutes away from some of the areas most beautiful beaches, close to great shopping, local restaurants and I75 interchange. The Legacy Trail is close by for those cycling enthusiasts. Not many homes left at this price in this condition. Don't let this one pass you by.

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Under Contract in 5 days - Luxury Home Short Sale Osprey Florida The Oaks Bayside

Sun, 11 Sep 2011 08:35:38 -0700

SHORT SALE This price allows you to start building your appreciation today. Your success will show in every room of this much sought after - rarely found courtyard home located in prestigious Oaks Bayside. Just south of Sarasota this tropical paradise offers amenities second to none. Through the doors of this unique home you will find elegant entertainment area with summer kitchen, pool, spa & water fountain. Magnificent views of the tropical preserve and north creek can be enjoyed from most rooms - luxury living with comfort and tranquility. Travertine marble flooring, master bedroom with balcony, master bath with dressing room, roman shower, jetted spa and bidet, gas fireplace in living area, french doors, concrete safe room, with separate guest quarters. You will appreciate the generous working space in the kitchen and the views of the tropical palms and of North Creek. The Oaks boasts two championship golf courses, tennis, Jr Olympic Swimming pool, Croquet, 3 restaurants and a Georgian style clubhouse. Residents enjoy a vibrant active lifestyle and you are also minutes away from the top rated beach in America, Siesta Key Beach, world class shopping and all of Sarasota's cultural activities. You will be proud to call this house your home. Exceptionally priced at $575,000.

To view more photos click here

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Short Sale Osprey Florida Waterfront Luxury Home The Oaks Bayside

Sat, 03 Sep 2011 11:21:03 -0700

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Venice Florida Jacaranda West Area Over 12 Acres For Sale

Sun, 28 Aug 2011 19:35:42 -0700

Over 12 acres available next to tennis courts of Jacaranda West Country Club. Acreage includes lake. Jurisdictional wetland delineated (with county and state). Potential for 9 residential lots or one large estate.SWFTMUD approval.Parcel #0438-15-0033 is zoned RSF-2 and Parcel #0447-02-0014 is zoned RSF-1. Both parcels are to be sold together in one transaction.

View more photos and information at FindVeniceFLHomes.com.

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Just Sold North Port FL Short Sale Lakeside Plantation

Sun, 28 Aug 2011 19:22:21 -0700

Closed another short sale in North Port Florida in Lakeside Plantation. If you are considering a short sale please give us a call at 941-270-1851 to discuss all the options available to you to help you avoid foreclosure or visit our website at www.FindVeniceFLHomes.com.

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Search Venice Florida Homes For Sale

Sun, 28 Aug 2011 19:13:24 -0700

Search for homes right now: Use the search tools on this site to see all the homes for sale in Sarasota, Charlotte and Manatee Counties just like Realtors do for FREE.

This site is loaded with powerful and helpful tools you will not find in any other service. It is extremely easy to use.

You can easily:

• Find any home listed in the Multiple Listing Service- just like Realtors do!
• Make an informed decision and find your dream home quickly.
• Receive automatic notification of price reductions and new listings, FREE

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