Sarasota County Market Update
Published On: October 22, 2015 Posted by: Brad
Market Update October 22, 2015
Red Hot market conditions in South West Florida at this moment in time. The geographic region I specialize in Venice, Nokomis, Osprey, Sarasota the pendulum has swung aggressively to favor the Seller. Pricing continues to rise on a quarterly basis. National Association of Realtors states Florida will be 2nd only to California in terms of expected appreciation for 2016 at a robust 8-9 percent. That would equate to over 5 consecutive years of appreciation in Florida; two of those yeas seeing double digit appreciation figures. At the moment the horizon looks pretty darn good in terms of continued growth. Mortgage rates continue to remain low and new construction building permits are reminiscent of pre Great Recession. Couple more points that impact the market at this moment in Sarasota would be both hazard insurance and flood insurance. Both are becoming more and more cumbersome in the purchase process. Asking questions about insurance upfront will elevate pain and suffering when it’s too late. New Flood Insurance Rate Maps in conjunction with Four Point and Wind Mitigation inspection to see if homes qualify for any discounts make it an interesting era we live in today. My next post be dive into the insurance issues in Southwest Florida more in-depth.
Sarasota County Real Estate