Lakewood Ranch wins another reward

Lakewood Ranch News:  This master-planned community was named of the country's 50 best by "Where to Retire" magazine. Actually it will be in the August issue. Recently the community ranked  #2 in the United States for building activity. If you are considering Sarasota for your retirement living you will find many areas from which to choose and don't forget our beaches are ranked #1 in the country as well.

Sarasota Florida: Learn As You Play In Your Retirement

Sarasota Florida: Learn As You Play In Your Retirement

When you consider retiring and moving to a beautiful, warm place like Sarasota Florida, you might be thinking of a life of luxury, rounds of golf, beachcombing and drinking iced tea on your front porch. Amazingly, though, a large portion of people who move to Sarasota as a retirement destination find themselves enrolling in universities for continuing education and other activities to keep their minds rich and active.

One such Sarasota establishment is the Lifelong Learning Academy at the University of Florida's Sarasota-Manatee campuses. This is a school run by retired teachers and professors, and attended by many retirees who have the desire to continue their learning experiences well past their retirement years. The success of universities such as this will only continue to grow as the next generation of retirees find themselves choosing Saratoga as a retirement destination. These newer retirees will be bay boomers, and they will be bringing with them a love of learning, a desire to achieve goals that they could not reach previously in their working lives, and generally a higher level of college education than those that have retired to Sarasota before them.

Sadly, the economy is at play in the decision to further a retiree's education and find work. In today's economic downturn, living a life of luxury on pensions and social security might not be realistic for everyone. Even though Sarasota real estate is well within reach of those facing retirement, they might find themselves having to continue to work to support themselves in these uncertain times. Luckily, Sarasota will meet the needs of retirees by offering continuing education and enhancement programs through programs offered by institutions such as the Lifelong Learning Community.

The soon to be retiring baby boomer generation will have to work harder for less, even in the affordable Sarasota real estate market. Many baby boomers have had to tap into their retirement nest eggs to make ends meet. Still, the dream of warm, sunny Saratoga Florida is within reach for the next generation of sun seeking retirees. They might need to downscale the home of their dreams, but the idea of moving to Sarasota is still alive and well for most people when they think of Florida as a retirement destination.

Retiring baby boomers will bring a unique blend of determination and business savvy to the Sarasota scene. Already a health conscious group as a whole, they will be finding ways to capitalize on inexpensive healthy recreational forms instead of the stereotypical retiree on yachts and golf courses. This business acumen will follow them in their choices of homes and living arrangements as well. This generation of retirees are used to knowing what they want, and they are accustomed to working for what they need. They won't be held down by having to work later in their lives to keep their lifestyles alive; they will most likely find ways to make money from their interests. Careers in health care will always be in high demand, as are opportunities in Sarasota real estate, construction, and food services.

College courses like those offered by the Lifelong Learning Academy offer a place for retirees to meet and interact socially. Friendships are formed by the common goals of continued learning and self enrichment. This idea of interaction amongst peers is another reason these continued educatinal opportunities are so popular.

Sarasota Florida is known for its rich background of continuing education for retirees. Since the 1970's introduction of the Sarasota Institute for Lifetime Learning, these classes have been a key attraction for retirees. Baby boomers in particular will love this Sarasota feature due to the affordability of schooling; since most classes are taught by other retirees, some of which are volunteers, costs can be lowered significantly to attend school.

Sarasota real estate offerings are not only affordable, they are further sweetened by the city's rich heritage in arts and cultural attractions. These tend to draw the college educated baby boomer retirees. The comparable wealth of the region will ensure that these attractions and educational opportunities will continue for some time to come.

Considering Sarasota as a retirement destination is an investment in anyone's future. Full of rich educational opportunities and steeped in arts and cultural offerings, Sarasota Florida is one place where retirees can make their retired lives as relaxed or as active as they choose to be.

Real Estate Deal Breakers

Common real estate deal-breakers

Real estate professionals are trained in the art of shepherding a property sale from contract to closing. They counsel their buyers through every step of the lending process, mediate between buyer and seller while inspections and repairs are completed, and reassure nervous sellers that the buyers' financing will be sewn up tight by closing.

But the best laid plans of buyers and sellers can and do go awry from time to time, especially amid the stress and fatigue of a pressure-cooker deal between highly motivated buyers and sellers.

A disappearing ficus tree, secrets under the dining room rug, erroneous inspections and a particularly contrary house cat are just a few of the last-minute deal breakers that have quashed or threatened real estate transactions. And while deal breakers by their very nature are not typical, they do tend to arise from several common areas.

The single most common deal breaker? The buyer's financing falls through.
This is understandable, considering that a typical home sale actually involves two contracts: one between the buyer and seller, the other between the buyer and his or her lender. Where big money is at stake and the ticking clock is exerting additional pressure, there is no such thing as a sure thing.

A deal can fall through when the buyers fail to maintain the financial status upon which their loan was based.

"The buyers spent way too much money before closing and when it came down to a few weeks before closing, they couldn't qualify for their loan anymore," she says.
Dick Pelosi, broker-agent with Century 21 Advance Realty in suburban Boston, says the old industry phrase "Buyers are liars" sometimes applies to their loan documents.
"Getting prequalified or preapproved, that's easy to do," he says. "When it comes down to it, can they get the loan commitment? That's where it's always shaky. People lie on the application or they can't produce their pay stubs."

Every real estate agent's nightmare is a renegade inspector.
Because most inspectors' livelihoods are based on agent referrals, their reports tend to be fair but not overly picky. Once in awhile, however, they can be flat-out wrong, as Brook Ashley, a broker in Montecito, Calif., found out the hard way. "I had an escrow fall out when an inspector said a beam was way too long and not structurally correct. After a lost escrow and $10,000 later, a structural engineer came in and said actually it's not one beam but two beams and they are joined twice as well as they need to be. But we lost the sale."

Property condition issues also can doom a sale.
"I had a listing where the seller had redone a house magnificently, but underneath this gorgeous area rug under the dining room table, he hadn't put hardwood floor in," according to Paulette Koch, broker with The Corcoran Group in Palm Beach, Fla. " I was in shock. Everyone was in shock. If he had just told everyone, it wouldn't have been the end of the world. When people have the knowledge upfront, they're usually fine with it. People just don't like surprises."
Ashley's quick thinking one morning saved a $4.5 million sale.

"The buyer walked in and said that the seller had taken a potted ficus tree and they were going to cancel this morning's closing. I found a ficus. It couldn't have been more than a $70 ficus, but I found it at 8 o'clock in the morning. It could have just been a bluff but it didn't feel like it to me."
Homeowner associations also car spoil a sale at the last minute when the prospective buyer discovers unacceptable restrictions, such as "no pets."

"Our real estate contract now requires the seller to deliver the last six months' minutes of the homeowner association," says Kraft. That way, deals won't fizzle because a buyer belatedly discovers an association rule that nobody told him or her about.

But the award for strangest deal breaker goes to Ashley.
"I had a condo sale where we were in escrow with a little old lady whose only companion was a large, vicious, horrible Himalayan cat named Miss Kitty. She called to cancel escrow because she said she had talked to Miss Kitty and Miss Kitty said it wasn't the right thing to do.
"We canceled it on Miss Kitty's hiss. That was fun telling the selling agent."

Sarasota - Sunsets and Beaches

Sarasota is probably best known for its wonderful climate and glorious beaches. Both make the city a great place to live, a fact that is not lost on baby boomers making their move to Sarasota homes. Their attraction to Sarasota real estate is certainly understandable. Among the reasons: spectacular sunrises and sunsets over pristine beaches, year-round warmth, and abundant sunshine.

Sunny and MildLife in Sarasota is filled with sun-drenched days. Mild temperatures are in no short supply either. Even the winter months rarely see lows less than 50 degrees. And that combination of blue skies and warmth coaxes residents out of their Sarasota homes all year long to enjoy recreational activities.

There are a lot of outdoor pastimes to choose from. Make a day out of water sports. Serve up a few games of tennis. Test your swing against one of the many challenging golf courses that pepper the landscape of Sarasota real estate.

Chances are you won´t have to venture very far to enjoy any of these activities. That´s because Sarasota homes come in golf and tennis communities and with yards that reach out to the gulf and bay waters. Imagine heading out for a sunrise jog or a sunset stroll along beaches that are just steps from your door.

Sandy and ScenicThe white sand beaches cover more than 35 miles of Sarasota real estate that forms the shoreline along turquoise waters. Some of beaches meander past waterfront Sarasota homes. Others frame the barrier islands just offshore. Still others are a shell collector´s paradise.

All of the beaches offer a pleasing mix of sand and surf that makes Sarasota homes so popular among those enjoying or nearing retirement. Here are just three of the beaches that you will definitely enjoy sinking your toes into:

Crescent Beach: Touted as one of the most superb beaches anywhere, Crescent Beach is without a doubt one of the most beautiful stretches of Sarasota real estate. It has a picturesque crescent shape ? thus its name ? and the sand is pure white and especially fine. The Sarasota homes on Siesta Key, where Crescent Beach is located, are just as fine and range from condos to villas.

Lido Beach: Located on Lido Key, a barrier island with upscale Sarasota real estate, Lido beach offers trails that are ideal for observing nature and scenic views from the overlooks. There is also an impressive dual view from the south end of the beach. The Gulf is on one side and the skyline that highlights attractive waterfront Sarasota homes is on the other.

Caspersen Beach: Unspoiled Sarasota real estate is the phrase that best describes Caspersen Beach. It has a windswept aura, and a boardwalk provides a panoramic Gulf view. The beach is virtually covered in shells and now and again you can find pre-historic shark´s teeth. You will also find a lush nature trail, mangroves and palms, and fresh and saltwater marshes.

There are many more Sarasota beaches that are sure to strike your fancy. And there are many beachfront Sarasota homes that you will certainly find appealing too. What better way to while away the days than enjoying the sunshine and sunsets that make owning Sarasota real estate very attractive indeed.

Sarasota Real Estate Prices

Sarasota Real Estate Prices

Sarasota Buyers Agent

As you search for your Sarasota Home, it is important you understand my role as a Buyer's Agent. In Sarasota, a Buyer's Agent is exactly what it states - a Real Estate agent who represents only the Buyer. aka Single Agent. Florida laws have changed over the last couple of years, disallowing one agent from fully representing both the Buyer and the Seller. This is known as "Dual Agency" and still exists in some states but not in Florida. Here is how a Buyer's Agency works. more

Lakewood Ranch Cinemas set to open

It was reported today that the Lakewood Ranch cinemas are set to open. The interior seats need to be set in place and the walls painted ... But its close. I am sure they will be open for Thanksgiving.

Lakewood Ranch - New Home Sales

NEW HOME SALES
Sales of new homes posted the biggest increase in five months in August, raising hopes that the steep slide in the housing industry may be leveling off. Sales of new single-family homes increased by 4.1 percent -- far better than the 3 percent decline economists had expected.

Tax Dollars Wasted

This morning I read the following in the paper...County commissioners on Tuesday OK'd a controversial $3.1 million purchase of land on the Myakka River, arguing that multimillion-dollar homes would be built on the pristine site if it isn't protected.

There wasn't a single mention, though, of what has made the purchase controversial during the past two months -- that Tamara Ley, wife of County Administrator Jim Ley, is the real estate agent on the deal.Commissioners felt that issue was resolved last month when Tamara Ley promised to either donate her $45,000 commission to charity or not take a commission on the deal, said Commissioner Jon Thaxton. The deal has also been criticized because the owner, Myakka Properties, bought the property 19 months ago for $650,000 and the price has since nearly quintupled.

The land had been targeted for acquisition by the county's environmentally sensitive lands program since 2000. But the county's agent, The Nature Conservancy, had failed to close a deal at a time when the land was much cheaper.

What the heck is going on? In these days of soaring insurance rates and soaring utility increases, why in the world would we spend 3 million dollars on land that potentially could generate more income to the county? Who in their lifetime or their children's lifetime will every even see this land let alone use it?I bet if this purchase was financed by raising the local sales tax - it would never happen. In fact, thinking about it, that is exactly what should be done. Cut the real estate taxes so people are not taxed out of their homes and raise the sales tax. Then we'll see how the anti-growth geniuses manage a budget. Now they spend money like it is their own...

Market is predicted to stabilize

The housing market is in a process of stabilizing with little change in overall sales volume expected over the balance of the year, according to the National Association of Realtors (NAR).

David Lereah, NAR’s chief economist, says the indicators already are leveling-off. “We’ve seen a minor easing in closed transactions of existing-home sales, and a slight increase in the leading indicator of pending sales based on contracts,” he says. “New-home sales and housing starts have been fluctuating, so the overall market is stabilizing.”

“On one hand is the rise in mortgage interest rates that has slowed sales in many higher-cost markets, and on the other is 3.8 million new jobs over the last two years,” Lereah adds. “This means many potential homebuyers could enter the market in the foreseeable future, especially in moderately priced areas where affordability conditions remain favorable. In fact, this is already occurring.”

Although sales will be fairly steady over the balance of the year, declines since last fall mean annual totals will be lower. Existing-home sales are forecast to fall 6.5 percent to 6.61 million this year, the third highest on record after 2005 and 2004. New-home sales are projected to drop 12.8 percent in 2006 to 1.12 million, also the third best on record. Housing starts should be down 9.1 percent to 1.88 million this year.

The 30-year fixed-rate mortgage is running nearly a percentage point higher than a year ago but is likely to rise very slowly in the months ahead, reaching 6.9 percent in the fourth quarter.

NAR President Thomas M. Stevens says current market conditions are favorable for buyers. “The rise in housing supply is the biggest change in the market over the last year,” says Stevens. “Clearly, this has taken pressure off of home prices and has significantly widened choices for buyers. At the same time, sellers are getting excellent returns -- but in this competitive environment they need real estate professionals more than any time since the 1990s to market their homes and maximize value.”

The national median existing-home price for all housing types is forecast to grow 4.3 percent this year to $229,000, while the median new-home price is expected to rise only 0.5 percent to $242,100 as builders offer incentives to clear unsold inventory.

The unemployment rate should average 4.7 percent for the balance of the year. Inflation, as measured by the Consumer Price Index, is likely to be 3.5 percent for 2006, while growth in the U.S. gross domestic product is projected at 3.5 percent. Inflation-adjusted disposable personal income is expected to grow 3.0 percent this year.

Mortgage Rates Fall Again - more to come?

Mortgage rates declined for the second straight week on signs that the economy is growing at a slower pace than expected, Freddie Mac reported Thursday.

The average rate on 30-year fixed-rate loans fell to 6.63 percent for the week ending August 2 from 6.72 percent the week before.

A year ago, the 30-year mortgage rate averaged 5.82 percent.

"Second quarter Gross Domestic Product [GDP] came in weaker than the market had expected. This means inflation is less of a threat, and that translates into lower mortgage rates," Frank Nothaft, Freddie Mac vice president and chief economist said in a prepared statement.

"Although lower rates are a welcome sight, we still feel that the 30-year fixed-rate mortgage rate will drift up and down somewhat over the next few months, but will average less than seven percent for the year," Nothaft added.

Florida Economy in good shape

Consumer confidence among Floridians in June rose four points to 90, reflecting optimism about the long-term future of the U.S. economy.

“The rise in confidence comes as a surprise given what is happening in the economy that should be affecting consumers,” says Chris McCarty, director of the survey research center at UF’s Bureau of Economic and Business Research. “Gas prices declined a bit in June, but so did the stock market. The Federal Reserve has induced rises in interest rates on credit cards and home loans. It’s unclear why consumers are so optimistic about the future.” Maybe it is because the Fed. Chair. signaled that the possible end in prime rate increases.

US Homes and Lennar Guarantee Prices

As a means to encourage buyers to move forward and sign a contract for a new home rather than wait to see if prices will come down, Lennar Corp. which is located in Miami and US Homes are making a commitment to prospective buyers if prices come are reduced before the closing of your purchase, you will receive the lower price. In the alternative, if the prices go up, the buyers cost will not go up and the company will honor the original contracted price. It is a good deal for both parties I think. This guaranteed price contract applies to the cost of the home but not to any upgrades. In addition, the program is only for owner-occupied housing.

Homeowner's Insurance can be difficult

Storms keep insurance at bay. The Bradenton Hearld reported the case of one such homeowner.
In the summer of 2004, during one of the most active hurricane seasons for Florida, Joanne Johansen was buying a new house.

The process of buying a home can be stressful, but that process was made worse, Johansen said, by hurricanes Charley, Frances, Ivan and Jeanne.
In order to complete the home-buying process, a one-year insurance policy must be written before a mortgage can be closed, said Johansen, owner of Platinum Mortgage Solutions in Bradenton.

Unfortunately, insurance companies may not write policies when hurricanes threaten.
"The person buying my house was trying to get insurance, I was trying to get insurance, and the person whose house I was buying was trying to get insurance for his new house," Johansen said. "It was a little crazy."

During the season, some insurance companies stop writing new policies, and renewing old ones, as soon as a hurricane enters what is called "The Box."
"The Box" runs along latitude and longitude lines from North Carolina to Jamaica, and Jamaica to the Yucatan Peninsula, encompassing all of Florida and most of the Gulf of Mexico, said Ken Hughes, manager of Hughes Insurance Services Inc., located on 26th Street West in Bradenton.

The window of opportunity to get insurance between hurricanes could be as narrow as a few days. In 2004, Johansen said there was about a six-week period when a hurricane was in "The Box" almost constantly.

"We all basically had to wait for that window and jump on it," Johansen said. "We closed and moved into the house on Friday, and Jeanne came in that Sunday."
When no hurricanes are looming, insurance agents try to bind as many policies as possible. Binding a policy provides homeowners with a legal document saying the insurance company will insure their homes beginning on a certain date, Hughes said.

In order to bind a policy, agents at Hughes Insurance need an appraisal and other information about the house. During hurricane season, however, Hughes said agents understand the need for people to get a policy quickly so they work to expedite the process. They can complete the process in a few days.

"People need to be aware of the storms and their closing dates and get insurance locked up as soon as possible," Hughes said. "They need to get their insurance figured out while the weather is still OK."

Other insurance companies stop writing policies when a hurricane watch or warning has been issued for an area.

State Farm Insurance makes its policy decisions based on forecasts from the National Weather Service, said Chris Neal, public affairs manager for State Farm of Florida.
If a watch or warning is in effect for South Florida, State Farm agents will still write policies for northern counties. If most of the state is under a hurricane advisory, no policies will be written.
Clients hoping to get insurance and buy a house simply have to wait until the advisories are lifted.

State Farm also tries to bind policies quickly in between storms but the process is complicated, Neal said. Agents have to inspect the house and get basic information about it, such as when it was built, any damage it has, the condition of the plumbing and wiring, and for how much the property should be insured.

"When people are looking at buying a new home, they definitely need to line up a policy as quickly as possible," he said. "I would encourage people to call their insurance agent as soon as they have picked out a house."

Florida Sales Tax

A Message From Secretary Simone Marstiller
Fellow Floridians,
Governor Jeb Bush recently signed legislation authorizing Florida’s second annual sales tax holiday for hurricane preparedness. This is an important component of Governor Bush’s comprehensive plan to instill a “culture of preparedness” in Florida. The sales tax holiday begins on Saturday, May 21, to coincide with National Hurricane Preparedness Week, and ends on June 1, the first day of the 2006 Hurricane Season. It is important for all Floridians have a family disaster plan in place BEFORE a disaster threatens. So, I encourage you to prepare as soon as possible. I also urge all Florida business owners to take appropriate measures, including developing a disaster plan, to protect your businesses and business records, and to lay out how you will get your business up and running following a hurricane or other devastating event. Your plan should also include a process to account for employees after an event. For more information on creating a family disaster plan and for a list of tax exempt items, please visit www.FloridaDisaster.org.

Ritz-Carlton golf course course

The new Ritz Carlton golf club is all that one would expect it to be. With its lush fairways and private setting in Lakewood Ranch, if you love the game of golf, this facility will not disappoint you... more

Ranch residents find fun, fellowship at town hall

The ever-evolving Lakewood Ranch prides itself as a community for everyone. The recently completed Town Hall is home to not only Ranch staff but also serves as a gathering place for any number of Lakewood Ranch clubs and organizations. This is an area which is a pleasure to show people looking for a new home. The schools are great for families with kids. The Country Club is a big attraction as well as the vast array of amenities which have come to Lakewood Ranch.
Ranch residents find fun, fellowship at town hall

Everybody seems to be a real estate expert

It seems everybody is a real estate expert and all real estate agents are a dying breed, according to an article in the New York Times. But considering it is the NYT, what they publish may or may not be factual. Anyway, the NAR responded to the article. I wanted to pass it on...

March 6, 2006

To the Editor:
Stephen Dubner and Steven Levitt’s vicious attack on real estate agents (Endangered Species, New York Times Magazine, March 5) carries so many errors of fact and false assumptions that there is insufficient space here to put the record straight.


The authors could have lifted their thesis from Bill Gates’ “The Road Ahead,” published a decade ago. He predicted the Internet would reduce the number of real estate agents in half, but instead, there are about a third more members of the National Association of REALTORS® today. And the percentage of home sellers who choose to hire professionals continues to rise, despite the fact that we have just witnessed what may prove to be the greatest seller’s market in history.


What happened? First, the real estate industry adapted to the Information Age and changed the way we work to meet consumers’ needs. That’s why studies have consistently shown that home buyers who use the Internet to search for a home are more likely to work with a professional than those who don’t. The industry also spawned new business models and gave consumers more choices in how they work with professionals.


Second, what real estate agents do is very different from travel agents or securities brokers. Every piece of real estate is unique, the transaction process is complex and, if you will excuse me for pointing out the obvious, real estate is the original bricks and mortar business.
Finally, the plain fact is that hiring a professional pays off. The typical home represented by a professional last year sold for 16 percent more than those sold without a professional’s help.
That profit more than pays for the agency’s commission. Millions of homeowners know it, and that’s why they will continue to call on experienced real estate professionals.

Sincerely,
Thomas M. Stevens CRB CRS GRI2006 President, National Association of REALTORS®

The 'Baseball cottages'

It's that time of year again. The pitchers and catchers have reported - and Spring Training is officially underway.

Our area is blessed with two national league teams - the Pirates and the Reds, who call this area home for the Spring.

If you are a baseball "nut". I am sure you will find the following bit of history very interesting. more...Baseball cottages'

Post office for Lakewood Ranch delayed

Unfortunately the much awaited Post Office in Lakewood Ranch has been delayed. I suppose to some retailers who specialize in providing shipping and mailing services this is good news. But for the general public a drive down state road 70 to the nearest post office will continue. more...Post office

13th Annual Singing River Rendezvous

If you are looking for something to do this weekend check out the 13th Annual Singing River Rendezvous at Camp Eagle. I read about this event this morning and thought I would pass along the article from today's herald Tribune. It sound like a great family experience and is open to the public beginning Friday thru Sunday. more...Traders, organizers set up shop at camp

Sales Report on the area

The sales report from the Sarasota MLS yesterday underscores a couple of the reasons the Sarasota market has flattened a bit. First, there is Big Al Greenberg’s one-man crusade to destroy the economy by again raising interest rates; this is the same Al who waited too long in 1999-2000 to lower rates. Oh well he is done.

The second reason is the # of inexperienced agents in this area. They foolishly over-price listings. Yesterday there were about 38 closed transactions. There were 100 or so new listings and about 130 price reductions.

Our Buyers know what is going on in the market. They do not and will not offer on the over-price listings. Sometimes they stay around and continue to look and sometimes they go elsewhere … in many cases home.

Do not – Do not – Do-not overprice your home. I don’t want you to under-price it either. Nevertheless, the bottom line is you will make a profit but perhaps not as much as you thought. Do not worry – no one ever lost money taking a profit.

Sarasota Maps

I am always getting lost even after 10 years in Sarasota. However, being a guy I'll never admit it -...until I spend about an hour driving in a circle! Save yourself some time and print out my little collection of maps from my website. Sarasota Maps

Lakewood Ranch Districts' News

The districts in Lakewood Ranch have recently adopted several new ideas and plans. more...Lakewood Ranch

Florida Democrats support reducing assessments on homeowner insurance premiums

Gov. Bush has said sales taxes should not go toward reducing homeowner assessments because, in his view, that would be tantamount to bailing out insurance companies that still enjoy strong profits.more...Homeowners Insurance

"Do Not Call" Cell Phone Register

Beginning 2006, cell phone numbers will be released to telemarketing companies. Good news though- you can register your cell phone on the national Do Not Call register. More..."Do Not Call" Cell Phone Register

26 developers tackle Manatee infrastructure

developers

Florida Prescription Drug Prices - Introduction

Most of us are concerned about the cost of our prescription medications. Shopping for the best price can be difficult and time consuming. Most pharmacies do not advertise or even display drug prices, check prices...Florida Prescription Drug Prices

Private golf club up and running

The Ritz-Carlton Members Golf Club is officially open - to club members, that is. more...Ritz Golf Club

Manatee county Holiday Closings for New Year's Day

Here is a list of some of the closings in Manatee county for New Years. more...Holiday Closings

3rd Home Buying on the Increase

People are buying 3rd homes reports the New York Times. more...3rd Homes

Lakewood Ranch Polo draws a classy crowd

Sipping on champagne and snacking on hors d'oeuvres, spectators at the Sarasota Cup cheered for their favorite polo players Sunday afternoon more...Polo

Lakewood Ranch- Main Street vision is now becoming a reality

It was October of 2002 when the developers of Lakewood Ranch announced their plans for Main Street. more...Main Street vision

Get tax credits for energy improvements

Hold off until after Jan. 1, 2006 if you are considering purchasing anything related to home=energy. This is when the recently enacted Energy Tax Incentives Act of 2005 kicks in. more...Get tax credits for energy improvements

Sarasota Polo Club begins its 15th season today

If you are a fan of the movie "Pretty Woman" then this is something you don't want to miss. Take a drive out Sunday to Lakewood Ranch and check it out. Bradenton Herald | 12/11/2005 | Sarasota Polo Club

Jovial cricket players, spectators gather for annual festival

LAKEWOOD RANCH -- Cricket buffs bunched by the hundreds, lounging field side and sipping Heinekens as white-uniformed players swung bats and wickets. more ...
Cricket players

Lakewood Ranch cinema funding secured

The Sarasota Film Society has completed a deal that will make the organization the largest nonprofit film society in the nation, according to Noel Hazard, executive director of the society.
Bradenton Herald | 11/29/2005 | Lakewood Ranch cinema funding secured

Consumer Confidence surges in November

The Consumer Confidence Index improved in November. The Index now stands at 98.9, up from 85.2 in October. The Present Situation Index, which gauges consumers' attitudes about current conditions, rose to 114.0 from 107.8. The Expectations Index, which gauges consumers' attitudes about the future, surged to 88.8 from 70.1 last month.



"A decline of more than 40 cents in gasoline prices this month and the improving job outlook have combined to help restore consumers' confidence," says Lynn Franco, Director of The Conference Board Consumer Research Center. "While the Index remains below its pre-Katrina levels, the shock of the hurricanes and subsequent leap in gas prices has begun wearing off just in time for the holiday season. Despite this latest boost in confidence, holiday spending will be driven by the bargains consumers have come to expect."



Consumers' assessment of present-day conditions improved in November. Those claiming business conditions are "good" increased to 25.5 percent from 23.3 percent. Those claiming conditions are "bad" decreased to 17.3 percent from 18.4 percent. Labor market conditions also appear to be improving. Consumers saying jobs are "hard to get" decreased to 23.2 percent from 25.3 percent, while those claiming jobs are "plentiful" was virtually unchanged at 20.8 percent.



Consumers' outlook for the next six months is considerably more upbeat, although not as optimistic as earlier this year. Those expecting business conditions to worsen decreased to 11.7 percent from 18.5 percent. Those expecting business conditions to improve rose to 18.8 percent from 14.1 percent.



The outlook for the labor market is also more optimistic. Those expecting more jobs to become available in the coming months increased to 14.2 percent from 12.3 percent, while those expecting fewer jobs fell to 17.7 percent from 24.0 percent in October. The proportion of consumers anticipating their incomes to increase in the months ahead improved to 20.9 percent from 17.4 percent last month.



The Consumer Confidence Survey is based on a representative sample of 5,000 U.S. households. TNS conducts the monthly survey for The Conference Board. The cutoff date for November's preliminary results was Nov. 16.


from our Association...
2005 FLORIDA ASSOCIATION OF REALTORS

Lakewood Ranch Buyers should consider 40 year mortgage

THE NEWER LONGER MORTGAGE

Forty-year mortgages don’t always seem like a good idea when compared to a 30-year loan, but the popularity of the longer mortgages is gaining ground because many homebuyers view them favorably when compared to an interest-only home loan.

For a slightly higher interest rate, borrowers receive an initial monthly payment nearly as low as the one on a comparable interest-only loan, with the amortization enabling them to slowly amass equity in the property.

Argent Mortgage President Sam Marzouk reports that 40-year loans are particularly attractive to consumers who consider their home to be a long-term investment.

Some consumers should be aware, though, that many loans that amortize on a 40-year schedule have balloon payments that come due after 30 years.

Sarasota real estate sales to International Buyers on rise

When David Ford took early retirement from his job in England, he envisioned spending six months in Florida playing golf and six months in England.

"I fell in love with Florida," Ford said.

Now, the owner/broker of Sunset International Realty and Property Management in East Manatee, Ford helps international and local buyers find their own piece of Florida.

International buyers, led by those from Great Britain, are searching for permanent residences, second homes, rentals or straight out investments more ... Real Estate Sales in Sarasota to International Buyers on rise

Senior Buyer Trends, Sarasota real estate

More Seniors are choosing Florida for the second home / retirement home. More and more seniors are using the internet in their search. more...Senior Buyer Trends, Sarasota real estate

Sarasota Fishing

Fishing in Florida is a great time ... even a passion ... for many. If you know a little or a lot or something in between about fishing around Sarasota here is some information you might find useful more...Sarasota Fishing

Sarasota Home Seller's Tip - Remove the Clutter!

Unclutter your home when selling! This is the hardest thing for most people to do because they are emotionally attached to everything in the house. After years of living in the same home, clutter collects in such a way that may not be evident to the homeowner. However, it does affect the way buyers see the home, even if you do not realize it. Clutter collects on shelves, counter tops, drawers, closets, garages, attics, and basements. more...Sarasota Home Seller's Tip

UK Investing

Below is the list of sites I recommend if you are considering investing in the UK:


EZ Mortgage UK - Adverse Credit Mortgages UK - Home mortgage loans for people with adverse credit, self certification, non status and bad credit mortgages and home loans.

Better Loans UK - Offering debt consolidation, bridging, personal, secured and unsecured loans for the self employed, bankrupt or bad credit applications.

100% Buy to Let Mortgages UK - Exclusive ! Unique 100% Buy to let Mortgages.

Second Mortgage Loans UK - Specialist in Loans for problem mortgages, second mortgages, re-mortgages and new mortgages for people with problem credit history.

Best Buy to Let Mortgages UK - Providing advice and online product database of various rates for buy to let mortgage loans and advice on buy to let mortgage loans. Instant quotes.

French Property Sales - UK based agency providing a free service for new and resale property in the South of France, Leaseback and and new-build a speciality. Mortgages, tax, legal services & info on french property purchase

What Mortgage UK - What Mortgage UK offer the most competitive rates available today, for secured UK mortgages and remortgages.

Endowment Policy Maximiser - We'll obtain as many quotes as possible from at least 10 market makers for second-hand endowment policies to ensure you obtain the best price in the market.

Equity Release - Home Equity Loan - Provide extra income – For many the incentive is enhancing their lifestyle by using some of their equity to provide additional income/

Personal Loans UK Secured Loans - UK based Secured loans. Our friendly and helpful staff will find you the most competitive loan for you even if you have some adverse credit history, CCJ's or other financial problems.

Rent a villa with pool in the South of France for your holiday - Beautiful houses with 2 or 3 bedrooms, new kitchens and bathrooms and quality furnishings for a great holiday in the south of France, near St Tropez and Ste Maxime - prices from £250 to £1000 a week.

Accident Injury Helpline UK - With nothing to pay upfront and a 'No win no fee' guarantee. Just spend a few minutes filling out our quick and easy enquiry form. We'll then help you honestly assess your claim.

Personal Injury Advice UK - Compensation claims personal injury claims on a no win no fee arrangement.

The Property Investors Club UK - Offers discounted off-plan buy to let investment property, property investment funds, REITs, overseas investments, leaseback, discount properties, commercial property, education and property seminars.

First Time Buyers Club UK - The First Time Buyers Club has been established to help first time buyers (and others who require more affordable housing) get onto the property ladder.

Moneysworth - Moneysworth provides cost effective and discounted financial services with life assurance, traded endowments, pensions and much more.

Best Cash ISA Rates -

French Villa Rental South of France - Vacation holiday home rental villa france, nr. st tropez; plan de la tour, on the french riviera. two bedroom luxury villa with pool.

Vacation Rental Holiday in France - Choice of French Villas, Cottages and Apartments to rent in the South of France, near St Tropez, Ste Maxime and Plan de la Tour

Assetz Bulgaria - Buy properties in Bulgaria for investment or holiday homes.

Polaris World Spanish Property Sales - Expert in PolarisWorld Golf Resort and Resale Properties in the Murcia Region of Spain

Mum Plus One - UK Insurance for family protection and the cost of raising a child.

Buy To Let in Florida - Buy to Let opportunities in sunny Florida

Buy To Let In France - Advice on buying-to-let in France

Buy To Let In Spain - Spanish properties available for buy-to-let

Buy To Let Overseas - Buy-to-let for outside the UK

Cheap Loan Centre - UKs cheapest loans

The Home - Information for home owners

Assetz Property Investment - Assetz is the new name for a group of well known and successful property companies offering you selected premier UK and overseas property, education, buying assistance, finance and after-sales service

Assetz Cyprus - Buy properties in Cyprus for investment or holiday homes.

Le Roc France - Investment property in Le Roc, France

Buying a New Home

If you are purchasing a new home in Sarasota chance are you will be purchasing new construction. As a Buyers Agent I act solely on the Buyer's behalf. It is important to understand the on-site development sales people represent the Builder only.

The following is an article from BankRate.com which offers some great advise when purchasing new construction. Buying a New Home

State of Florida Information

The State of Florida has an enormous amount of information. To search for answers or just interesting information check it out here...

Sarasota Real Estate, Sarasota Florida Real Estate, Siesta Key, Bradenton, Sarasota new homes, Sarasota house, Lakewood Ranch Real Estate, Lakewood Ranch, Sarasota County Real Estate, Sarasota Florida, Sarasota, Florida, Gary Brey

Special Events at Lakewood Ranch

Check here often for upcoming Lakewood Ranch Events:

Special Events at Lakewood Ranch

Re-Invent Your Life in Sarasota

The 15 Best Places to Reinvent Your Life

Baby boomers are redefining retirement-and leading the move to a new generation of dream towns

By Grace Lichtenstein, Elaine Robbins, and Michael Dupuis



Once again, baby boomers are breaking the rules. This influential group has bumped traditional retirement off its list of priorities. While "their parents were off fleeing to Leisure Worlds," says historian William Strauss, boomers are contemplating what to do in the next stage-and where.

A recent AARP study estimated that 70 percent of those 45 and older plan to continue working in their "retirement" years, and a Roper Starch Worldwide survey found that the number may be as high as 80 percent. Financial stability isn't the only reason; the Roper study notes that pure enjoyment of work (35 percent of those questioned) or just a desire to try something new (5 percent) will also keep people on the job.

The choices boomers make-in everything from jobs to zip codes-will alter the country's future physical and financial landscape in substantial ways. "Fully situated in middle-age, boomers have become a serious economic as well as social force with which to be reckoned," says William H. Frey, a University of Michigan demographer and a leading researcher of age-migration trends. "And, as usual, all eyes are on them." Already, it's possible to discern certain trends.

Among those ages 45 to 54, only 4.7 percent-fewer than one out of 20-move across county lines each year, while even fewer move across state lines, according to Frey. So it's likely that the largest portion of this demographic will stay put. Why? Boomers "see their homes as legacies," explains Strauss. And since they tend to get along with their kids, they have no plans to get away from them.

How We Picked the Cities

Our research team looked at 10 criteria reflecting the needs, interests, and tastes of Americans age 50 and older. Not all of the towns excel in every category, but each ranked high in several, and many scored high in most. You'll see some surprises here-we made a genuine attempt to spotlight sleepers-vibrant towns and cities that may not have occurred to you.

Availability of jobs, since many in this group will work beyond age 65.

Affordable housing-many cities have costs on par with or below the national median price of $161,600.

Culture and entertainment (from museums and opera to shopping and sports events).

Access to outdoor recreation, from skiing and biking to walking and hiking.

Safety-personal and property safety, and a generally secure feeling.

Colleges or universities (for continuing education and a multigenerational vibe).

Sense of community (often places with a vital and walkable downtown).

Proximity to comprehensive, well-regarded health care facilities.

Good public high schools, since many boomers still have teens at home.

Ease of getting around (public transportation, traffic, access to an airport).

For those who will move, sometimes the pull of the familiar is key. Many will move to be near family. One of the differences between baby boomers and the older "silent generation," says Strauss, is that this younger group is not rebelling against family ties. In fact, remaining close to loved ones is a priority. College towns, too, offer a familiar feel. The experience for those who "were in college from the middle 1960s into the early '70s," says Strauss, "was something that set the whole generation on a life-cycle trajectory. College communities were the closest thing boomers had to the beaches of Normandy."

In addition to the community aspect, universities generate jobs and lend a youthful vibe. And they often come with arts centers, medical facilities, and sophisticated restaurants.

Another trend: choosing a new locale first-opting for one with appealing cultural and recreational lifestyles-and only afterward looking for ways to earn a living there. Strauss calls this the "aesthetic choice." Some who make this jump wind up telecommuting, starting a small business, or working part-time.

This is particularly true of the region Frey calls "the New West." Colorado, Washington, Idaho, Wyoming, and other states have recently lured long-time Californians (others are coming along, too) who loved the Golden State lifestyle but became fed up with high taxes and crowds. Flush from cashing out their equity in houses whose value mushroomed, these California migrants are transplanting themselves to attractive neighborhoods in nearby states.

Also a popular choice: purchasing vacation homes with a view to spending more time there in the future. Again, the New West-particularly Colorado-is seeing much of this activity. Other hot spots? West Virginia, Tennessee, and Arkansas-all quieter, less crowded destinations that come with lower prices.

Since "boomers and middle age are now synonymous," says Frey, "the whole country will become more middle-aged-but some places more than others." Where might those places be? We've compiled a list of 15 highly livable towns by looking at a range of criteria-from affordability to community life to job growth. Ultimately, of course, choices are as varied as the people making them. But this is a good place to start dreaming.


SARASOTA, FL

Sarasota, a small, civilized city on Florida's Gulf Coast, has it all-35 miles of beaches, a temperate climate, golf courses and tennis courts aplenty, and good boating in the Gulf and Sarasota Bay. Fine dining has rendered the early-bird special an endangered species-you'll have no trouble finding first-rate food at places like Pattigeorge's on Longboat Key or late-night burgers at Patrick's downtown. The local economy is robust (unemployment is a mere 2.8 percent), and there is a mix of jobs in tourism, the financial and health fields, and information technology.

But, apart from the sun, what residents love most is the range of cultural opportunities. What other small Florida city has an opera, a symphony, a film society, a theater scene (from Broadway classics like Porgy and Bess to a cabaret where you can dine while watching original productions), lots of art galleries-and The Ringling Museum of Art (with paintings by Rubens as well as circus props). "If you can't find something to do around here," says Regina Kelley, a local teacher, "you'd better check your pulse."

Experts Agree- No Sarasota Real Estate Bubble!

Home Price Analysis for Sarasota-Bradenton-Venice

By the Research Division of the National Association of REAL TORS@

Executive Summary


With home prices rising strongly in most parts of the country, there has been widespread media coverage on the possibility of a housing market bust. A thorough analysis of the Sarasota-Bradenton- Venice metro market, as detailed below, reveals that there is very little danger of this.

In fact, the local housing market is in excellent shape with a
potential for significant housing equity gains, particularly for homebuyers who plan to remain in their house for the long run.

Because prices have risen faster than income, the ratio of price-to-income is currently above the historical norm. This measure is frequently cited to imply that there is a housing market bubble.

But this ratio is a misleading measure in assessing bubble
prospects.

A more relevant measure is the mortgage servicing cost relative to income.
This ratio is at a very manageable level. It implies no widespread financial
overstretching to purchase a home in the region. Furthermore, the nationwide supply of homes on the market relative to home sales is very lean, suggesting similarly tight market conditions in the local area.

Price Activity

The current price of $367,800 is 80% above the national average.
The median home price rose 23% in 2004 and 92% in the past three years.
Home price growth has been weak throughout the 1990s.

So part of the recent increase is attributable to the "catch-up" effect.


Affordability

Because the prices have risen faster than income in recent years, the ratio of price-to-income has been rising strongly. This measure is frequently cited to imply that there is a housing market bubble.

Mortgage rates declining to 45-year lows have been a major force in boosting home
prices in recent years. Lower rates allow homebuyers obtain a larger loan without
necessarily increasing monthly mortgage payments.

A more relevant measure for assessing the risk of a home price bubble is the median
mortgage servicing cost relative to the median income. This ratio is currently above
the local historical average, but well below the worrisome levels of the early 1980s.

It implies no widespread financial overstretching to purchase a home in the region
Furthermore, the newly arriving retirees may not get reflected in the income data
since they are not working, but they could have substantial wealth holdings.


Local Sarasota Fundamentals

The job market has been exceptionally strong. There have been 41,000 payroll job
additions in the past five years. Many new job holders seek their own housing units.

The region added in the past five years an estimated 56,000 new housing units of
which about 42,000 were single-family units.

The ratio of five-year job gains to five-year new home construction shows the
"hangover" impact of the housing shortage, or housing surplus.

In our case, the localmarket is at a neutral level as the ratio is right near one. With recent job gains

and the expected continued economic expansion, the jobs-to-new home ratio could further increase. In addition, as mentioned earlier, the newly arriving retirees will not show up in the jobs data, though they will need housing.


Other Factors

There is no good data on ARMS or interest-only loan composition for the local
market. But, there have been some reporting in the media of a higher use of these
loans in recent years compared to the past. If true, some homeowners will feel the
pinch of higher rates over time.

The baby boomers are in their peak earning years and have been active in purchasing
second homes, which many consider as their future retirement homes. The baby
boomer impact will continue for another 10 to 15 years.

The region is a prime retirement destination. The local market will benefit from
second-home purchases by U.S. baby boomers as well by wealthy foreigners.


Stress Test

Price declines in the local market are unlikely according to our stress test.
The local housing market will experience a price decline of 5% only under
extreme unlikely scenarios.

For example, mortgage rates rising to 9% in
combination with 33,000 job losses could lead to a price decline. Other scenarios
that could lead to a price decline of 5% are shown below.

Such scenarios are highly unlikely. Most credible forecasts predict the region will
create at least 12,000 jobs over the next 24 months and mortgage rates will hover
around 7% by the end of 2006, which bodes well for future price gains.

Even in the unlikely event of prices declining by 5%, most homeowners will maintain
sizable equity build-up in their homes.

Housing equity will most likely continue to accumulate to local homeowners. The
equity gains under three price growth scenarios are presented below.

One scenario assumes a historical conservative price appreciation of 1.5% above consumer price index inflation.

With most credible inflation forecasts pegged at 2.5%, home prices
can expect to rise by 4% per year under normal circumstances. The two other
scenarios assume slightly below (1.5%) and slightly above (6.5%) the normal rate of
appreciation.

The local market is more likely to appreciate at an above-normal rate because of the
on-going wealthy baby boomer searching for retirement destinations.


Additional Discussion Points

Home price declines are very rare. In fact, the national median home price has not
declined since the Great Depression of the 1930s. Stock market collapses, the OPEC
oil crunch, economic recessions, and even wars have not negatively impacted national
home prices since the 1930s.


There have been few times when local prices declined. In nearly all these cases, the
price declines were accompanied by sharp prolonged job losses. It is difficult to
foresee a price decline in ajob creating economy.

Homes trade far less frequently than financial assets (about one home sale every 7 to
10 years for most homeowners). There are also larger transaction costs associated
with selling a home due to the lengthy careful examination demanded by home
buyers and sellers. Therefore, home prices are not prone to fluctuations as in the
stock market.

There are neither panic sells nor margin calls associated with homes.

Many non-quantifiable factors could be important for this metro market in
determining home prices.

Access to cultural life, the quality of museums, nearby local and national parks, water views, exclusive neighborhoods, weather, the international airport, city vibrancy, restaurants, and a host of other non-quantifiable factors could have an important influence on the overall pricing.

There are immense tax benefits to owning a home. These tax considerations were not
considered in the analysis. For example, the 1998 law permitting primary owner
occupants to trade down without having tax consequences.

Also most home sales results in no capital gains tax. In addition, long-term capital gains tax rates were reduced in 2003, thereby providing higher return for home investors. These positive
benefits, if accounted for in the analysis, would have shown an even stronger case for housing fundamentals in supporting home prices.

Understanding a "Housing Bubble"

HOUSING BUBBLE PROSPECTS Q&As

What is a housing bubble?

As broadly interpreted, a housing bubble refers to an unsustainable gain in home prices. The premise is that a
price bubble is at risk of "popping," resulting in a loss of equity.


Has there ever been a national housing price bubble?

No, not since good recordkeeping began in 1968. There was a national decline in the 1930s during the Great
Depression; however, home prices were not a prime concern in that era. The greatest issues were essentials such
as food, clothing, employment and shelter of any kind. Declining home prices were a natural result of a general
economic collapse caused by the stock market crash in 1929.


What is the "normal" rate of home price growth over time?

Since 1968, the national median existing-home price has increased an average of 6.4 percent per year.
However, that includes a period of high inflation. A better frame of reference is in relation to the overall rate of
inflation. Home prices typically have increased 1.5 percentage points faster than the rate of inflation, as
measured by the Consumer Price Index.


What are the biggest factors that drive home prices?

In simple terms, it gets down to supply and demand. The inventory of homes available for sale has been
historically low since 2001, which is why home prices have been rising at above normal rates.
In a balanced market between home buyers and sellers, there typically is a six-month supply of homes on the
market. Over the last four years, the supply has hovered around 4.5 months. By contrast, in the recessionary
period of 1990-1991, there was in excess of a 9-month supply.


What conditions are necessary for home prices to soften or decline?

Generally, two conditions are necessary for price softness in a given area: an oversupply of homes available for
sale, and adverse economic conditions -generally a weak local job market. Sometimes these conditions occur
against a backdrop of overall economic weakness, recession or high interest rates.


Where and when have home prices declined in the past? What were the general market conditions?

Most metropolitan areas, especially in the Midwest and South, have not experienced price declines in the era of
modem recordkeeping. Iii the period from the mid-1980s though the early 1990s, many metros in the Northeast
and on the West coast saw localized declines. Typically, this occurred in large population centers with very
little capacity for growth. When housing shortages developed during a period of high demand, prices grew at
sharp double-digit rates -often over 20 percent per year -for several consecutive years.
After local economic conditions declined in those areas, home sales stalled and the inventory of unsold homes
rose, which eventually led to price softness or decline.


How long have home prices declined in the past?

Although there are exceptions to any general fmding, most metro areas that experienced price declines were
relatively short lived (several years). Most homeowners who went through such downturns --but stayed in their
home for a normal period of homeownership --still netted healthy gains when they sold. People view
homeownership as a long-tenn investment as opposed to the kind of quick-in, quick out investment that Wall
Street is fond of. Unlike stocks, homeowners don't panic sell simply because a home down the street sold for
less. Home prices tend to be sticky on the downside --usually a single digit decline in any given year following a
sustained period of double digit gains. Very few people buy at the top of a market and then sell in a short
timeframe. After several years, home prices level and return to normal appreciation patterns.


Should we be concerned that home prices are rising faster than family income?

No. There are three components to housing affordability: home prices, income, and financing costs -the latter
are historically low.
During the last four-and-a-halfyears of record home sales, there has been a shortage of homes available for sale.
As a result, home prices during this period have risen faster than family income. However, in much of the
1980s and 1990s, the reverse was true -incomes rose faster than home prices.
On a national basis, according to the Housing Affordability Index published by the National Association of
Realtors@, a median income family who purchases a median-priced existing home is spending a little over 20
percent of gross income for the mortgage principal and interest payment. In the early 1990s, a typical mortgage
payment was in the low 20s as a percent of income, and in the early 1980s it was as high as 36 percent. Overall
housing affordability remains favorable in historic terms.


What are the prospects of a housing bubble?

There is virtually no risk of a national housing price bubble, based on the fundamental demand for housing and
predictable economic factors. It is possible for local bubbles to surface under the right circumstances, but that
also is unlikely in the current environment. There are tight supplies of homes available for sale in most of the
country, and labor markets have been improving. In other words, the two conditions necessary for price softness
do not exist in most of the country.

The strong underlying demand for homes results from the simple fact that the population is growing faster than
the supply of homes. In addition, it is highly unlikely that the cost of construction will decline. In fact, .
construction material shortages are expected to continue and the cost of building and development is trending
up.


Baby boomers remain in their peak earning years. Echo boomers -the children of the baby boom generation -
are just entering the period of life in which people typically buy their first home. The echo boom is the second
largest generation in U.S. history. Considering the median age ofa first-time buyer is 32, echo-boomers will be
a big factor over the next decade. In addition, immigration has been strong for many years. Census data shows
that immigrants eventually achieve homeownership rates higher than do native born Americans -this also will
be a strong factor in housing demand in the future. Also, minority ownership rates have been trending up.
All this means the demand for housing is historically high and is one of the reasons 2005 will be the fifth
consecutive year of record home sales. Even in an economic downturn, the demand remains. If conditions
become unfavorable, home buying may be postponed, but a general price decline remains highly unlikely.


What is likely to happen with home prices?

The forecast is for mortgage interest rates to rise slowly over the next year, which will have a minor breaking
effect on home sales. The good news is that will help inventory levels to recover and allow the market to come
into a closer balance between buyers and sellers.
In other words, a general slowing in the rate of price growth can be expected, but in many areas inventory
shortages will persist and home prices are likely to continue to rise above historic norms.

Public Image of Realtors® Reaches All -Time High

For more information contact:
Steve Cook, 202/383-1014
scook@realtors.org


Public Image of Realtors® Reaches All -Time High

CHICAGO (October 20, 2005) –Public opinion of the nation’s Realtors® has reached an all-time high for the third straight year according to an annual tracking survey conducted to measure the effectiveness of the eighth season of the National Association of Realtors®’ multimillion-dollar Public Awareness Campaign.

The survey’s composite image score of 19 beliefs, opinions and attitudes about Realtors® rose from 56 percent in 2004 to 59 percent—up 11 points since 2002. The survey also found that the likelihood of real estate consumers to use a Realtor over a real estate licensee who is not a Realtor® rose 4 points to 64 percent this year.

Some of the consumer beliefs and opinions that improved most over the past 12 months are: “Realtors® bring the latest technology to buying and selling a home” (up 6 points to 63 percent); “Realtors® have the expertise to help sellers price their home fairly” (up 4 points to 64 percent); “Realtors® earn their commission” (up 6 points to 50 percent) and “Realtors® advocate private property rights of homeowners” (up 12 points to 54 percent).

“Public support for Realtors® and the value Realtors® bring to the real estate transaction is higher than it has ever been. Consumer attitudes towards Realtors have been improving steadily for the past few years due to many factors, especially the effectiveness of the Public Awareness Campaign,” said NAR President Al Mansell of Salt Lake City.

Total awareness of NAR’s television and radio advertisements reached the highest level in the history of the campaign. Awareness rose 2 points to 73 percent—reaching nearly three out of four real estate consumers in America. In 2005, 55 percent of consumers recalled seeing or hearing at least one of the NAR advertising executions, an increase of 2 points over 2004. Awareness of the call to action introduced last year, “Ask your agent if they’re a Realtor®, a member of the National Association of Realtors®,” increased from 32 percent to 39 percent.

Beliefs about Realtors® that improved the most this year were: that they have the best network of sources to help buyers and sellers (79 percent up 6 points over year ago); that they are best qualified to promote the sale of a home (73 percent, up 12 points); that they are professional (70 percent, up 13 points); that they conduct business with ethics and integrity (69 percent, up 11 points); and that they get the job done properly (68 percent, up 10 points).

Buyers who purchased a home in the past 12 months reported a jump from 39 percent to 56 percent in agents identifying themselves as Realtors®, while sellers reported an even more dramatic 23 percentage point gain, from 41 percent to 64 percent.

Realtor® support for the advertising campaign continues at levels similar to those last year, according to a survey of NAR members conducted in concert with the consumer survey. Ninety-eight percent of all NAR members favor the ad program, 94 percent would like to see more advertising, and 78 percent rate the advertising effectiveness as excellent/very good (up four points). Sixty-seven percent of members, a significant 10 point gain over last year, cite NAR’s advertising as an important reason for joining the association.

The National Association of Realtors® Public Awareness Campaign kicked off its eighth season last February and it will end next week. New ads this season featured people talking about their real estate experiences and touting the benefits of working with a Realtor®. The ads encourage consumers to contact a Realtor® first when it comes time to buy or sell a home or lease a commercial space.

The $25 million advertising campaign featured four new television commercials this year and four new radio spots, as well as new customizable print ads, posters and Web banners for state and local associations to use. Commercials included NAR’s first-ever Spanish-language television ad. The new spot, which closely resembles the English-language version, featured Hispanic Americans sharing their hopes, dreams and stories about trying to achieve the American dream of homeownership.

The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing more than 1 million members involved in all aspects of the residential and commercial real estate industries.

National Parks in Florida

If you plan to visit Lakewood Ranch here are the National Parks located in Florida:



Big Cypress National Preserve
Ochopee, FL National Preserve

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Biscayne National Park
Miami, Key Biscayne & Homestead, FL National Park

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Canaveral National Seashore
Titusville and New Smyrna Beach, FL National Seashore

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Castillo De San Marcos National Monument
St. Augustine, FL National Monument

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De Soto National Memorial
Bradenton, FL National Memorial

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Dry Tortugas National Park
Key West, FL National Park

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Everglades National Park
Miami, Naples, and Homestead, FL National Park

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Fort Caroline National Memorial
the Timucuan Preserve; Jacksonville, FL National Memorial

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Fort Matanzas National Monument
St. Augustine, FL National Monument

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Gulf Islands National Seashore
Gulf Breeze, Florida and Ocean Springs, Mississippi , FL,MS National Seashore

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Timucuan Ecological & Historic Preserve
Jacksonville, FL Ecological & Historic Preserve

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ParkNet U.S. Department of the Interior FOIA Privacy Disclaimer FirstGov

Sarasota Reading Festival

Sarasota Reading Festival


The Sarasota Reading Festival is an annual free community event promoting literacy and
celebrating the pleasures of reading. The Festival is one of our area’s special events that truly offers something for everyone! There are dozens of events, including readings and discussions by award-winning authors, book signings, food booths, inventive crafts, and children’s activities.

The Festival is held each year in downtown Sarasota, and attracted over 18,000 people in 2004.

The Festival is produced by Friends of the Selby Public Library, Inc., and New College Library Association, Inc. Presenting Sponsor is the Sarasota Herald-Tribune.

The 2005 Sarasota Reading Festival will be held Saturday, November 5, in downtown Sarasota.

Up-to-the-minute Festival information may be found at the Festival Web site, www.sarasotareadingfestival.com, or by calling 941.906.1733.

Begins: 11/05/2005 09:30 AM
Ends: 11/05/2005 05:00 PM

County, city to sell a lot of lots

Article published Oct 26, 2005
County, city to sell a lot of lots
Seized North Port properties to be sold for affordable housing

By Doug Sword

SARASOTA COUNTY -- North Port and Sarasota County will jump into the real estate market in a big way next week, hoping to make $50 million to $70 million that the county can use for affordable housing.

The county has already committed much of its windfall, expected to top $20 million, to affordable housing initiatives. While North Port hasn't yet dedicated its windfall, one commissioner said the city needs to use the money to pay for road projects.

While officials already had the money spent, a Web site is scheduled to launch Monday to whet the public's appetite for 2,100 North Port properties seized between 1998 and 2003 after the owners didn't pay their property taxes.

If the average parcel sells for $25,000, that would bring $51.2 million to the city and county after expenses.

The two governments hired Fisher Auction Co. of Pompano Beach on Tuesday to conduct the auction with bidding, some via the Internet, starting in early January and ending Feb. 11.

General Development Corp. originally sold the 2,100 lots beginning in the 1950s. After decades of little appreciation in value, the owners, mainly Midwesterners, stopped paying property taxes by the early 1990s, said David Bullock, deputy county administrator. At the time, a typical tax bill was only $20 or $30 a year, he said.

It's taken a decade to get control of the properties and for North Port and Sarasota County to settle a lawsuit over ownership. The two governments went to mediation and North Port will get 55 percent of the profit from the massive property sale, while Sarasota County gets 45 percent.

An initial estimate puts the estimated profits from the sale at about $50 million.

"I'd say that's conservative," said North Port Commissioner Barbara Gross. The city hasn't decided how to spend the money, but Gross would like to see much of it spent on improving roads.

The county will spend its share on affordable housing initiatives and infill development, which could include extending utilities to parcels in urban and suburban areas that development has skipped over.

The 21,000 properties, scattered throughout North Port, have been unwanted for years. During the 1990s, they were all put up for public auction because of unpaid back taxes. But there were no bidders.

Officials say that won't be the case this time around. The properties were appraised at $11 million two years ago. North Port's population has risen by 55 percent over the last four years so the two governments expect that appraisals could easily quadruple.

Based on recent sale prices, the average bid price during the auction could be $35,000, said Larry Arnold, general manager of business operations for the county's public works department.

Four questions to ask yourself before you jump on the home buying bandwagon

Should I buy a house?


Four questions to ask yourself before you jump on the home buying bandwagon.
April 4, 2005: 8:54 AM EDT
By Sarah Max, CNN/Money senior writer

Salem, Ore. (CNN/Money) –A month ago my friend caught me off guard when she asked the seemingly simple question: "Should I buy a house?"

After seeing all of our friends – even the single and unsettled – jump on the buying bandwagon, this free-spirited friend was starting to think that she too should commit to a mortgage.

"Am I going to kick myself a year from now for not doing it?" she asked.

"Do you even know where in the world you'll be a year from now?" I came back, thinking of recent conversations about out-of-state job opportunities and international fellowships.

Still, I wasn't about to take responsibility for this kind of decision.

So I did what any good friend would do: I asked a few leading questions and waited for her to come to her senses.

Why do you want to buy a house?
It used to be that buyers wanted to find a place to live, with the additional benefit of making some money over the long run. Increasingly, buyers say they want to find a place to invest, with the additional benefit of having somewhere to live in the short term.

Yet, even cheerleaders of the housing market warn that double-digit price gains aren't realistic. David Lereah, chief economist of the National Association of Realtors and author of the new book "Are You Missing the Real Estate Boom?" says he expects healthy price appreciation through the next decade. But his idea of healthy is 4 percent to 6 percent a year.

Even in strong markets, you may not break even if you sell too soon.

Let's say my friend buys a $200,000 house and sells it a year later for 10 percent more than she paid, which a pretty nice return by historical standards. After she pays a real estate agent, accounts for her closing costs and pays capital gains taxes, she'll walk away with less than $4,000 -- which is what I'm guessing she would spend sprucing up the house.

If the house appreciates only 5 percent, she'll lose money on the deal.

True, my friend could hold the house and rent it out. Of course, if she's not sure she's ready for the responsibilities of owning a house, she's definitely not ready to be a landlord.

At least she won't throw away money renting, right? Actually, most of her mortgage payment will go toward interest during her first year, and what little she puts toward principal will be eaten up by property taxes, insurance and other costs of owning.

A reasonable timeframe is three to five years, said Linda Marcelli, managing director of Merrill Lynch in Tampa Bay, Fla. "If you do happen to buy a house at the top of a market, you need to have flexibility to wait for prices to come back," she said.

Can you afford it?
Given that you can buy a house with no down payment, roll your closing costs into your mortgage and opt for an interest-only loan, this question might sound outdated.

But buying a house still takes money even if you manage to keep your mortgage payments low and save on closing costs. Between the time you pay for a home inspection and make your hundredth trip to Home Depot -- and I'm speaking from experience -- you could spend thousands of dollars in incidental expenses.

"We always advise people to have a cash reserve of four to six months of expenses in the bank," said Marcelli. "But if you're buying a house you should have even more."

What is the cost of renting?
Nationally, the gap between the cost of renting and the cost of owning is now the widest it's been in a decade, according to Gleb Nechayev, senior economist for Torto Wheaton Research. In most markets, he said, the price of owning has gone up while the cost of renting has remained flat or declined.

If you're weighing the pros and cons of buying, you might find it useful to take the pulse of the local rental market for a couple of reasons.

First of all, you might learn that you can actually save more money renting over the course of a year or two than you would on an appreciating home. My friend thinks she could rent a small two-bedroom house for about $700 a month in her market.

Her mortgage, property taxes and insurance on a similar house would likely ring in at close to $1,300 a month. At that rate her house would need to appreciate more than 10 percent in a year (assuming she sells with an agent) for her to walk away with more than she saved renting.

Second, the relationship between rent prices and the cost of owning is one way to gauge the health of a real estate market.

"There is an underlying relationship between home price and rents in close analogy to the stock market's [price-to-earnings ratio]," said Nechayev. If the cost of owning is significantly higher than renting similar property, the housing market may be overvalued relative to its economic fundamentals.

Are you ready to commit?
You should weigh the pros and cons of owning, take a close look at what you can afford and research your local market. But, at the end of the day the answer to the question "Should I buy a house" isn't going to show up on a spreadsheet or be revealed by a survey of friends and family.

"Emotionally, I'm not ready to commit," my friend told me a few weeks after she first came to me with her dilemma. "I feel like I should listen to that."

"A house is a huge commitment," I added, thinking how instead of touring Europe this summer I'll be landscaping my overgrown yard and pulling up tile in an out-of-date bathroom. "You'll know when the time is right."

As the saying goes: You want to own the house. You don't want the house to own you.

Sarasota #4 in Nation

DANA SANCHEZ
Herald Staff Writer

MANATEE - We're on the map in more ways than one.

Manatee County's recent astronomical property appreciation rate - 41 percent this year - brought national attention to the area. Now the growing Sarasota-Bradenton Metropolitan Statistical Area is drawing attention for other reasons: showing up on quality-of-life indexes on an almost daily basis.

Like Entrepreneur Magazine's Top 50 Places for Entrepreneurs (Sarasota-Bradenton was No. 47) and Colin Powell's Alliance For Youth 100 Best Communities for Young People (We showed up on the unranked list). We're also No. 8 on a list of 100 top renter-friendly midsize towns by ApartmentRatings. com.

On Tuesday, the area landed the No. 4 spot on a list of the 10 hottest major metropolitan markets for jobs by American City Business Journals.

Sarasota-Bradenton is the top Florida market for jobs and is bettered by only Las Vegas, Phoenix and Washington, D.C., according to a report at www.bizjournals. com.

The study compared unemployment rates (3.5 percent for Sarasota-Bradenton in June, down from 4.4 percent last year), non-farm employment, jobs added and the percentage change.

This area's work force grew by 16,500 jobs from June 2004 to June 2005, the study found. That's a 5.6 percent increase.

Quality of life and a growing population are getting the area onto lists, said Nancy Engel, executive director of the Manatee Chamber's Economic Development Council.

"When your metropolitan statistical area grows, that kicks in more things being recognized," Engel said.

The population for the Sarasota-Bradenton Metropolitan Statistical Area is 639,438, according to the U.S. Census Bureau's 2004 American community survey.

Some list-makers consider that a large city like Entrepreneur.com, which ranked the hottest large, mid-size and small cities for entrepreneurs.

Sarasota-Bradenton ranked 47th on its list of top 50 large cities to start and grow a business. Phoenix ranked No. 1 followed by Charlotte and Raleigh-Durham, N.C., and Las Vegas.

Phenomenal demand for real estate has helped Sarasota-Bradenton rank high in quality-of-life indexes, said Jim Parrish, a business analyst at the University of South Florida's Small Business Development Center in Tampa.

"When people move to an area to achieve quality of life, they need things," Parrish said. "Any business oriented towards consumers is going to do very well." That includes restaurants, retail establishments, financial services and banking, he said.

Here's a list we didn't show up on: Forbes' 2005 list of most expensive ZIP codes. Heading that list was the Atherton, Calif., ZIP code 94027, with a median home price of $2,496,553. Miami Beach's 33109 ZIP code was the most expensive Florida ZIP to make the list, with a median home price of $1,505,655.

This compares with Sarasota-Bradenton with a median home price of $347,400 in August, up 34 percent from $258,700 last year, according to the Florida Association of Realtors.

Here's an informal sampling of other lists ranking Sarasota-Bradenton:

• The area ranked No. 161 for risk from diesel soot out of 359 metropolitan statistical areas, according to a February study by the Clean Air Task Force using data from the Environmental Protection Agency.

• The Milken Institute, a nonprofit economic think tank ranked Sarasota-Bradenton sixth in a list of top performing cities in November.

• Sarasota ranked third in a list of top 10 Best American Art Towns, a guide to galleries, museums, festivals, lodging and dining, according to the Economic Development Corp. of Sarasota County.

• Sarasota was named sixth on a list of best markets for the creation of start-up businesses, according to a study by SalesGenie.com.

Lakewood Ranch gets first assisted-living facility

REBECCA BLUE
Bradenton Herald Staff Writer

LAKEWOOD RANCH - Over the past few years, family members frequently encouraged Mary Lee O'Neil and her husband, Joseph, to enter an assisted-living facility.

But leaving behind a six-bedroom ranch house in Lincroft, N.J., just wasn't something this 90-something-year-old couple wanted to do.

"We were afraid we'd have regrets about leaving behind our home of 32 years. We had wonderful neighbors and friends," Mary Lee O'Neil said.

When their nieces, both Lakewood Ranch residents, found out an assisted-living facility was coming to their neighborhood, they saw an opportunity.

The opportunity coincided with New Jersey's frigid 2004 winter season, which caused the O'Neils to change their thinking.

"We had to have our driveway plowed seven times. That did it. That was our last winter," Mary Lee O'Neil said.

The O'Neils moved into their 604-square-foot "Osprey" apartment at The Windsor of Lakewood Ranch on Sept. 14. In the two weeks they've resided at the new facility, they've quickly made themselves at home.

Joseph O'Neil is particularly fond of the relaxing atmosphere.

"I'm looking forward to the lack of chores," he said.

So far, the Windsor, 8220 Natures Way, is at one-third of its 86-room capacity. A good chunk of its residents are similar to the O'Neils. They have adult-aged children living in Lakewood Ranch, according to Jason Rosenberg, residence director.

"It's convenient and allows the family to be closer," Rosenberg said.

The average age of The Windsor's residents is 82. The facility allows its residents to come and go as they please. Transportation is provided but some of the residents still drive, according to Rosenberg.

The Windsor's owners, Pete Russell, Cathy Layton and Tim and Gail Buchanan, are all local residents and have been in the business for more about 15 years. They also own The Windsor of Bradenton and The Windsor Oaks, also located in Bradenton.

When they envisioned the Lakewood Ranch facility, they wanted to maintain a homey feeling, Russell said.

Two stories tall, the facility is surrounded by a wildlife nature preserve, complete with a lake on its west side.

The Windsor offers eight one-bedroom floor plans, ranging from 360 to 604 square feet and costing from $2,325 to $3,200 a month. The base service plan also includes a life-enrichment plan with several activities; weekly housekeeping, personal laundry and linen services; three meals a day; all utilities, except phone services; and 24-hour staff availability.

Residents can add on tailored services such as medication management, specialized diets and assistance with bathing, grooming and other personal-care needs. Companion service is also available to perform errands, escort residents to facility events or outside activities, and for additional housekeeping services.

The Windsor also offers a dining room with a view of the preserve; a living room with a 55-inch screen television complete with surround sound; media and game rooms; a library; a screened lanai and courtyard; a personal care suite for health and wellness evaluations and service; a therapeutic spa; and a beauty salon.

Rebecca Blue, Herald reporter, can be reached at rblue@HeraldToday.com or at 708-7919.

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© 2005 Bradenton Herald and wire service sources. All Rights Reserved.
http://www.bradenton.com

Burnt Store Road getting 1,800 homes

By John Heys
Sarasota Herald Tribune

CHARLOTTE COUNTY -- Lennar Communities plans to build a golf course community of 1,800 homes off Burnt Store Road in Charlotte County.

The community, dubbed Tern Bay, will feature a mix of single-family homes and condominiums on 1,700 acres south of Punta Gorda and north of the Lee County line, Lennar announced Tuesday.

A 27-hole Chip Powell-designed golf course, with a clubhouse, restaurant and fitness center, also is planned.

US Home and Lennar will build homes in the community. Prices haven't been set, but Lennar says it expects them to be "competitive for the area."

The project developer, Tern Bay Development Co., committed in January to widen nearly two miles of Burnt Store Road in return for impact-fee credits from the county worth about $5.6 million. The two-lane road will be widened to four lanes.

Lennar has built more than 25,000 homes in Charlotte, DeSoto, Manatee and Sarasota counties.

On Monday, the Miami-based company reported better than expected third-quarter earnings. Net earnings for the quarter were $337.3 million, or $2.06 per share, compared with $225 million, or $1.36 per share, in 2004.

That beat several Wall Street estimates.

New Flood Insurance Program Starts Oct. 1st

New Flood Insurance Program Starts Oct. 1st
Coverage under the nation's flood insurance program will change as October 1st, a long-planned event not directly related to Hurricanes Katrina and Rita, but one that will substantially impact those most likely to be flooded in the future.

Until this point the National Flood Insurance Program (NFIP) has provided three basic levels of coverage:


Owner-occupants could obtain as much as $250,000 for property damage plus $100,000 for lost contents.

Tenants could insure personal property for as much as $100,000.

Investors could get coverage of up to $500,000 per property, a figure which includes both damage to the structure as well as contents.
Depending on where you lived, maximum residential coverage for the structure and contents ranged from $703 to $1,822 per year. Less coverage was also available with lower annual premiums.

The problem with the program's long-term approach is that while coverage was fairly equivalent, claims were not. For instance, one study done by the National Wildlife Federation found that 5,629 homes had 19,979 flood insurance claims.

These homes had a gross value of $307.5 million -- but because of repeated claims owners obtained flood insurance payments worth $416.3 million. That's right -- insurance coverage was more than $100 million greater than actual property values.

The problem of repetitive losses structures is huge. Essentially the current insurance system encourages folks to build again and again in the same way and in the same spot where they have previously been inundated.

"About 1 percent of the 4.4 million properties currently insured by the program are considered to be repetitive loss properties," says the General Accounting Office. However, this magical 1 percent produces about 38 percent of all program claim costs, $4.6 billion since 1978.

In other words, a lot of people overpay for flood insurance to assure the coverage of those most likely to be inundated. Seen the other way, those most likely to be flooded are paying less than they should.

As of October 1st, however, program rules will change. Under the Bunning-Bereuter-Blumenauer Flood Insurance Reform Act of 2004 -- legislation signed into law in June 2004 -- owners with flood insurance will get a chance to upgrade risky properties. If they don't, insurance premiums will soar.

Under the new rules:


A "severe repetitive loss property" is defined as a structure with one to four units with four or more separate flood insurance payments exceeding $5,000 each or a total of more than $20,000 in claims. A property with two claims which together exceed the value of the property is also defined as a "severe repetitive loss property."

Grants will be available for elevating risky properties, relocating them to higher ground, demolishing properties prone to flooding, flood-proofing risky properties and buying them outright.

Owners of flood-prone properties can decline such offers and have a right to appeal "repetitive loss" designations.

Premuims will increase 150 percent above current flood insurance rates for those who refuse to mitigate.

If a damage claim to a property exceeds $1,500 and the property owner has refused mitigation, the insurance premium will again increase 150 percent.
The plain purpose of the new flood insurance standards is to target those properties most likely to produce claims -- and to force owners to either improve what they own or to pay more for flood coverage.

That seems both logical and fair.

The new flood insurance rules are surely a better approach than the old standard if only because they target the properties most in need of mitigation. That said, there are several issues to consider:

First, it's difficult to imagine that many beach-front structures -- no matter how elevated or flood-protected -- can be defended in the face of Katrina, Rita and storms of similar size and power. It may be that we are entering a new era of hurricane activity, one that will cause even further changes in the construction and insurance of beach-front property.

Second, beach-front structural improvements without wetland and barrier island re-development are useless. Unless we get serious about coastline ecology, it's easy to see where taxpayer money will be washed out to sea.

Third, what about those impacted by Katrina and Rita? Will homes destroyed by these hurricanes be instantly defined as "severe repetitive loss" properties? If yes, one can assume that virtually all Gulf Coast owners will accept mitigation or buy-out offers.

For more articles by Peter G. Miller, please press here.


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Written by Peter G. Miller



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