Bradenton Real Estate

May 9, 2013

Real Estate Market Update, News, and Data Report for Manatee County in Florida

Manatee County, Florida, real estate, news, Year over Year, Sales Data, statistics

Real Estate Sales for Manatee County by Zip Code & Transaction Type
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Average Days on Market for Manatee County Florida Real Estate Sales

Average Days on Market for Manatee County Florida Real Estate Sales
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median real estate sold price per manatee county florida zip code

Median Real Estate Sold Price
Per Manatee County Florida Zip Code
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median real estate sold price per manatee county florida zip code

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February 24, 2013

FNC Report: Housing Recovery Takes Hold for the Long Haul

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FNC Report: Housing Recovery Takes Hold for the Long Haul

Though home foreclosures continue to be a challenge in many hard-hit markets, a report released this week by mortgage technology company FNC indicates the ongoing housing recovery should continue for the long haul.


According to FNC’s Foreclosure Market Report, foreclosure prices have bottomed out in recent months and the foreclosure market has stabilized while underlying home values are rising. Foreclosure prices are at a 10-year low (when the sizes of foreclosed homes are factored in).

This trend of a rising underlying market accompanied by stabilizing foreclosure prices is the first encouraging development in the housing recession, according to FNC Senior Research Economist, Dr. Yanling Mayer.

“The fact that we are seeing a combination of rising home prices and a bottoming out of foreclosure prices is a very good sign the housing recovery is taking hold,” Mayer says. “This is the very first time in the long housing recession that the two are happening at the same time.”

FNC’s report shows that foreclosure price discounts, which compare a foreclosed home’s estimated market value to its final sales price, have dropped to pre-mortgage crisis levels at about 12.2 percent in Q4 2012. At the height of the mortgage crisis in 2008 and 2009, foreclosed homes were typically sold at more than 25 percent below their estimated market value. Additionally, the report indicates that the typical size of foreclosed homes is also approaching pre-crisis levels.

“If you look at the period of short-lived recovery under the first-time homebuyer tax credits, the foreclosure market was still in the midst of rapid deterioration with the influx of delinquent mortgages,” Mayer says. “This time, we are witnessing an entirely different development in the foreclosure market.”

FNC publishes the mortgage industry’s first market-valued based foreclosure price discount to gauge the degree of market distress. For more information about the foreclosure price discount, please refer to FNC’s March 2011 report located here.

More highlights from FNC’s Foreclosure Market Report:

• Single-family REO and foreclosure sales are 18.1 percent in Q4 2012, down from 26.5 percent in Q1 2012 and 24.2 percent in Q4 2011.

• The median foreclosure price is $93,000 or $65 per square foot. In comparison, the median price on non-foreclosure sales is $183,500 or $106 per square.

• Foreclosure price discounts are typically larger for low-tier properties, averaging 18.4 percent in Q4 2012. High-end properties, on the other hand, are typically sold close to their market value.

• Collateral depreciation – the difference between a property’s prior purchase price and foreclosure sale price – continues to decelerate, down to 6.4 percent in Q4 2012 from 8.4 percent a year earlier. Among the re-sales of non-distressed homes, homeowners typically broke even and many even realized a small price appreciation (+0.4 percent).

• Michigan has the nation’s highest concentration of foreclosure sales; 56 percent of homes sold in Q4 2012 are foreclosure sales. In contrast, foreclosure sales in judicial states such as New York, New Jersey, and Vermont only make up 5 percent of home sales.

• Foreclosure rates in a number of the hardest hit states are at or below the national average: Arizona (14.3 percent), California (19.8 percent), Florida (20.5 percent), and Nevada (13.0%).

• Midwest cities including Detroit, Chicago, Cleveland, and St. Louis have the largest concentration of foreclosure sales.

• Las Vegas, Phoenix, Riverside, and Sacramento show rapid declines in foreclosure sales in the last 12 months.

• Foreclosure price discounts are much smaller in markets with fast-rising prices. Many buyers in Phoenix, Las Vegas, Sacramento, San Diego, and Riverside paid a price premium on foreclosure sales, meaning foreclosure sales price exceeded estimated market value.

• Judicial foreclosures are generally associated with the largest price discount in foreclosure sales: New York (30 percent), Boston (32 percent), and Philadelphia (32.8 percent).

• Of the cities identified by the Federal Reserve Board as the largest REO inventory markets entering 2012, Phoenix, Los Angeles, and Riverside saw a significant decline in market distress during the year.

Phoenix is leading the nation in recovery with home prices up 26 percent in 2012 and foreclosure down from 29 percent to 12 percent.

For more information, visit www.fncinc.com.

The Serena Group ~ Keller Williams Realty of Manatee

is here for you!  Contact Us Today!

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September 19, 2012

Manatee County Real Estate Market Report – Year to Date – August 2012

Manatee County

Real Estate Market Report – Year to Date

All Property Types

Single Family and Condominiums – August 2012

manatee county, real estate, market, report, data, statistics, news

Thinking of selling or buying a home in

Bradenton, Sarasota, Manatee or Sarasota County?

THE SERENA GROUP is here for you!   Direct → 941.757.5377

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June 20, 2012

Bradenton, Sarasota, Manatee County, or Sarasota County Home Owner, Contemplating a Move?

selling a home, selling real estate, home selling

If you’re thinking about the pros and cons of selling your home in the current Bradenton, Sarasota, Manatee County, or Sarasota County real estate market, here are a few key points to consider:

  1. Low inventory in your neighborhood with high ‘buyer’ demand is usually indicative of a seller advantage or seller’s market for that area.  If this is the case for your neighborhood or subdivision, you may end up with multiple offers or a bidding war on your home, which is a great position to be in as a home owner!  Offers over the ‘list price’ are becoming more common for high demand areas.
  2. Even if there are distressed property competitors or a higher inventory of available properties for sale in your neighborhood, if you’re selling a home and then buying a new home too, you could very well make up on the ‘buying side’ of the process what you might lose on the selling side.  In some instances, you might even gain more than you lose.  Enlist the assistance of a great real estate team/agent to give you an analysis of the real estate market for your area and to offer their professional interpretation of the facts.
  3. Although the real estate market is moving in an upward direction, after a number of ‘down years,’ you still might be able to take advantage of a ‘move up’ opportunity or of purchasing a bigger, more elegant, or newer home at a price that may not be available long or be seen again for years.

Need an ear, a hand, or just some wise and professional real estate advice?

Contact The Serena Group today!

Our team of 7 seasoned agents is here for you with free online home research tools, market reports, a free home seller consultation, short sale resources, or a free market analysis for your home.

Email or contact our team leader, Robert Serena at ►  info@TheSerenaGroup.com

or by Direct phone ►941.928.1248.

If you do decide to sell your home, you may benefit from some of these excellent moving tips.

Vital Ideas to Make Moving as Easy as Possible

Moving is one of life’s most stressful events.  Here’s a quick guide to make your move as painless as possible.

Decide what not to pack

  • Now’s a good time to declutter your life by deciding which items you don’t want to take with you. Decide what you want to give away, throw away, or sell.
  • Get packing materials
  • If you’re not using a professional mover, you’ll need to get some packing materials. Bookstores often have strong boxes they don’t want anymore — call on the day of a delivery to ask for them.
  • Draw a floor plan — and use labels
  • Create a plan of your new home that you can use as a guide throughout the moving process. Label each of your boxes according to this plan. And clearly list what’s in each of the boxes.

What to pack first

  • Pack things you don’t need often first. Books, out-of-season clothes, and memorabilia make good candidates to go into boxes right away.
  • Pack “essentials” boxes
  • Mark some boxes as “essentials” and put in them the things you need on your first night in your new home.  That way you won’t waste time (and valuable energy) trying to find important things.

Food…and plants

  • Food, particularly from the freezer, isn’t easily stored, so try to use it up. Put plants in big plastic bags to avoid dirt spilling.

January 25, 2012

Real Estate Statistics and Market Conditions

regional map for data, market reports

The Map above shows the areas that are represented in the real estate data and statistics below

View this document on Scribd

Data Source ► MyFloridaRegional MLS

Click here for a ‘no strings,’ customized, free market report for your area or neighborhood!

November 11, 2011

Real Estate, Market, Report, Data, and Statistics – for November 2011

Real Estate, Market, Report, Data, and Statistics – for November 2011

November 2011 Market Update

While home sales in September were down slightly from a relatively strong month in August, they were up from a year ago, giving encouraging signs of a strengthening market and potential for stabilizing, if not appreciating, home prices. These signs include an increasing demand, shown by the number of people shopping for homes, and the decreasing inventory of homes for sale, in conjunction with some of the lowest levels of new housing construction since the 1960s when the Beatles first came to the United States.

Of the 3.48 million homes sold in September, 32% were first-time home buyers. With more and more people entering the market, the persisting obstacle for most is still the restrictive lending environment. In a plea to banks and policy makers, NAR President Ron Phipps said, “We need to remove the roadblocks to a housing recovery—not place more obstacles in the way of financially qualified buyers.”

With an increasing demand and shrinking inventory, it is hoped that banks will begin to see the market potential and start to lend to otherwise creditworthy home shoppers, opening the road to a more rapid recovery. While consumer confidence still remains at all-time lows, retail spending increased 1.1% last month, a positive sign of growth fueled by the approaching holiday season, which could propel the U.S. into a promising new year.

This Month’s Video

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Mortgage rates were down again, from 4.35% in September of last year to 4.11% this September. While the Federal Reserve continues to put downward pressure on interest rates to spur sales, Congress’s recent action to lower loan limits has further tightened lending among banks. This had the biggest impact in the Western states, which experienced an 8.8% drop in sales. This was mainly due to the concentration of more expensive properties in California, where buyers rushed to purchase properties in August before loans limits dropped on the October 1 deadline.
Home prices were down, with a 3.5% drop in September compared to a year ago. The national median price for homes in September was $165,400, with distressed properties, foreclosures, and short sales still accounting for 30% of sales. This is a great opportunity for those potential buyers still thinking about purchasing a home, especially as the housing industry begins to show increasing signs of stability.
With stronger sales than a year ago, the amount of homes for sale was reduced to 3.48 million units, or an 8.5-month supply at the current sales volume. With the lowest new housing construction in almost fifty years, the inventory of homes on the market is projected to continue to decline, which is a positive sign that prices could begin to climb again.

Green Your Home Did you know that the housing and building industry accounts for nearly 40% of the world’s energy and raw material consumption? Our ability to “green our homes” truly has the ability to change the world. The principles of green are really about understanding priorities for a well-lived life—living healthy, being smart with money, and acting more sustainably.

We typically spend more than 80% of our nonworking or commuting hours inside our homes. Because we spend so much of our lives inside, it only makes sense we make a healthy inside zone the first priority. Here are a few DIY tips from Green Your Home to get you started:

1. Cross-Ventilate. An average adult takes in more than 14,000 breaths—or about 3,000 gallons of air—a day! Surprisingly, you are more likely to breathe polluted air inside your home than outside—even in cities like Los Angeles, which aren’t known for air quality. Opening one window won’t cut it… you need cross-ventilation so the breeze actually blows though your home, taking the pollutions back out with it. Open a front door and a back door, or one window upstairs and one downstairs.

2. Lighten Up. Simply swapping out the five most commonly used incandescent bulbs for CFLs or LEDs in your home can save you $60 to $100 a year. Combined with well-designed artificial lighting, natural lighting is also a great way to boost efficiency.

3. Low Flow. American families use about 400 gallons of water a day, and 70% of that is used inside the home. The majority is used in the bathroom: the average person flushes the toilet 2,500 times a year. Transform your home’s toilet from water-waster to water-miser for cheap. Place a brick or 2-liter plastic bottle filled with water into your toilet’s tank. The volume of these objects means less water will be needed to fill your tank—you’ve just created your own low-flow toilet. Also, be sure and have a leaky or running toilet fixed by a plumbing professional immediately.

For more tips, buy your copy of Green Your Home now at http://www.kellerink.com/greenyourhome

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Brought to you by KW Research. For additional graphs and details, please see the This Month in Real Estate PowerPoint Report.
The opinions expressed in This Month in Real Estate are intended to supplement opinions on real estate expressed by local and
national media, local real estate agents and other expert sources. You should not treat any opinion expressed on This Month in
Real Estate as a specific inducement to make a particular investment or follow a particular strategy, but only as an expression of
opinion. Keller Williams Realty, Inc., does not guarantee and is not responsible for the accuracy or completeness of information,
and provides said information without warranties of any kind. All information presented herein is intended and should be used for
educational purposes only. Nothing herein should be construed as investment advice. You should always conduct your own research
and due diligence and obtain professional advice before making any investment decision. All investments involve some degree of risk.
Keller Williams Realty, Inc., will not be liable for any loss or damage caused by your reliance on information contained in This Month
in Real Estate.

September 11, 2011

Bradenton, Sarasota, Real Estate, Homes for Sale, Market, Reports, and Sales Data

Welcome to the latest issue of The Serena Group Newsletter!

As a real estate professionals, we strive to keep in touch with our clients providing them with information that we hope they will find useful.

This newsletter is an opportunity to let you know about the state of the market & current trends. It may even touch on ways that you could enhance your home’s value.

We hope the market data & articles will help you with understanding real estate today & help you with your real estate decisions. If you have any questions, please do not hesitate to contact us!

Sending our best,

The Serena Group
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Trend, Tips & Tricks

Manatee County in Florida Real Estate Sales Data

Average Listing Price (last 12 months)

Average List Price in August

Single Family Homes $423,080 Condos/ Townhomes $304,510 Multi-family $323,619

Words, Words, Words

How well do you know some of the different words used to describe people working in Real Estate? Do you know what these mean?

contingency
A condition that must be met before a contract is legally binding. For example, home purchasers often include a contingency that specifies that the contract is not binding until the purchaser obtains a satisfactory home inspection report from a qualified home inspector.
escrow
An item of value, money, or documents deposited with a third party to be delivered upon the fulfillment of a condition. For example, the earnest money deposit-which shows serious intent to buy- is put into escrow until delivered to the seller when the transaction is closed.
prime rate
The interest rate that banks charge to their preferred customers. Changes in the prime rate are widely publicized in the news media and are used as the indexes in some adjustable rate mortgages, especially home equity lines of credit. Changes in the prime rate do not directly affect other types of mortgages, but the same factors that influence the prime rate also affect the interest rates of mortgage loans.

Manatee County in Florida Real Estate Sales Data

Days on Market (last 12 months)

Current Average Days on Market in August

Single Family Homes 186 Condos/ Townhomes 228 Multi-family 290

Monthly Trivia articles

September

September is a time of harvests, leaves changing colors and back to school, but don’t forget September 19th is international “Talk Like a Pirate Day”.
September is named after “septem” which is Latin for “seventh month” (the first month in the Roman calendar is March).
The birth flower is Forget-Me-Not, Aster, or Morning Glory. The modern birthstone is Sapphire (loyalty, sincerity, truth and commitment) and the traditional birthstone is Lapis (protection and understanding).

Manatee County in Florida Real Estate Sales Data

Price Reduction (last 12 months)

Recent Price Reductions in August

Single Family Homes 6.9% Condos/ Townhomes 6.5% Multi-family 14.1%

An Easy Furniture Fix – Without Calling an Expert

Revive your wicker

Wicker furniture can be a challenge to clean. But that’s no reason to pay a professional. Here are some insider tips:
1. Use a vacuum cleaner with a brush attachment to lift dust, dirt and lint from within the woven reeds.
2. Wipe wicker with a clean cloth moistened with paint thinner (first try a little thinner on an inconspicuous spot to make sure it does not harm the finish). For stubborn stains, lightly rub with a green pot scrubber moistened with paint thinner.
3. To bring up the sheen on wicker, apply furniture wax with a clean cloth.

April 18, 2011

Real Estate, Market, Reports and Statistics, for Manatee County, FL

Whether you’re in the Real Estate market as a home buyer or a home seller, it is especially important, in the current real estate climate,  to be educated on the local market activity.

Here are:  Real Estate, Market, Reports and Statistics, for Manatee County, FL.

Real Estate, Market, Reports and Statistics, for Manatee County, FL

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