Looking for your Dream Home?
USE A REALTOR: As a buyer, it usually costs nothing to hire a real estate professional to help you find and purchase a home--your Realtor will likely get a portion of the commission the seller pays to his Realtor. When choosing an agent, get referrals from friends, relatives, and co-workers, and then interview as many agents as possible. Pick an agent that works in the neighborhoods you're interested in. Listen to your agent, but make your own decision.
SELL YOUR OWN HOME FIRST: This is generally sound advice unless you live in an extremely hot market and your Realtor is sure you'll be able to sell your home quickly, or you are looking for a 2nd home or investment property. Timing is crucial, so start working with your agent to find a new home as soon as yours is listed. With a little bit of luck, the day you accept an offer on your home, you'll be able to make an offer on a new home and close both deals on the same day. At worst, you may have to live in a rental for a couple of months, but most people agree that moving twice is preferable to being stuck with two mortgage payments!
WORK OUT YOUR FINANCES: That means determining how much money you can raise for your down payment and how much you can afford to pay on a monthly basis. Go to a lender to find out the size of mortgage you qualify for and get pre-approved. Better yet, use a mortgage broker to find you the best mortgage rate possible. When calculating the costs of home ownership, remember to plan for homeowner's insurance, property taxes, private mortgage insurance (if required), utilities, repairs, and maintenance.
FORECLOSURES & SHORT SALES: With bank foreclosures and short sales representing approx.50% of the Sarasota market, speculators and bargain hunters continue to grab these great investments.
Whether you are looking for anything close to the water and the beaches as a holiday getaway, or perhaps you are a retiree looking for a place in the sun for the winter months, or maybe you are an investor, looking for income producing properties for annual rentals. With so many people losing their homes to foreclosure, the rental market is particularly good in Sarasota.
I specialise in RE0's (bank foreclosures) and short sales (where the bank will agree to take less than the amount owed).
