In spite of the national economic downturn, home sales in the Sarasota and Bradenton area of Florida rose again in January, 2009 bucking the national trend.
Bill Geller, President of the Sarasota Association of Realtors, is reported as having said that "even during downturns in the economy, opportunities exist for savvy buyers." The Sarasota - Bradenton real estate maket includes just about every type and size of residence and neighborhood one could want. The area, including our island keys offers waterfront homes and condos, golf course communities of wonderful new and existing homes as well as exciting places to live downtown in the heart of all the social, arts and cultural action.
There is no denying that over the past few years, home prices in our area have risen to a point where homes were becoming unaffordable to many people who eiher already lived here or who would like to move to our sunny Sarasota Florida area. But as of January, 2009, the median home price for a single family home in the Sarasota market fell below $150,000, meaning homes in our area are once again becoming affordable for middle-class working families.
The recently enacted American Recovery and Reinvestment Act (known as the "stimulus package") includes a $75 billion Housing Support and Foreclosure Prevention program and also provides a tax credit of $8,000 for eligible first-time home buyers. These two programs, combined with historically low mortgage interest rates, are getting people interested in buying homes again and that is good news for everyone.
Once people start buying homes, they will need furniture, new carpeting, appliances, lawn mowers, and all sorts of help moving into and decorating their new homes. All of these will provide jobs and further strengthen the economic recovery thqt is just now beginning to take hold in this area.
Sarasota is perfectly situated with a good jobs market, beautiful weather, a plethora of arts and cultural attractions as well as over 80 golf courses, and now once again, affordable homes and condos.
Isn't it time you got serious about buying your dream home here in Sunny Sarasota Florida. Give me a call at 941-228-2321 or e-mail me at brianward@remax.net. You may also want to visit my Sarasota real estate website for even more information on the delightful Sarasota lifestyle.
2 comments:
i agree that there are always opportunities for the savvy buyer. home prices have historically been about 2.8 times the median income. So if median income is $45,000 median home price should be $126,000. What's the median household income where you live? The stock market is down, unemployment is up.....and property will continue to depreciate until it is allowed to hit bottom.
I agree with you, Sarasota real estate market has shown some good results even at the recession time. This is highly recommendable job done by real estate professionals.
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