While existing home sales in other parts of the country have fallen for more than 6 months, the Bradenton - Sarasota real estate market was the fourth highest selling market in Florida.
Home sales for January, 2009 rose by 4% over the same month in 2008 in part because of a reduction in the median price of homes in our market. The median price in this market has fallen to $144,800 from $246,300 a year ago, the lowest it has been since November, 2001.
The decrease in home prices has meant that home ownership has once again become affordable for the average family and thus more families, young and older, are beginning to look at homes in the Bradenton Florida area. There are currently about 2,650 existing homes for sale and another 1,800 homes working their way through foreclosure in Bradenton so there are plenty of homes to consider.
Once people start looking at homes here, they also learn something else very appealing. Mortgage interest rates are at all-time lows. QuickenLoans.com is currently quoting a 30-year fixed rate mortgage at 4.75% (APR 4.967%) and a 15-year fixed rate mortgage at 4.25% (APR 4.622%).
For those with more limited down payment funds, an FHA Express 30-year fixed rate mortgage can be had for 5.00% (APR 5.185%). With an FHA Express loan, your down payment can be as low as 3.5% of the price of the home and first-time buyers, defined as anyone who has not owned a home in the past 3 years, are eligible for an income tax credit of up to $8000.
If you are a young family that has been wishing homes in the Bradenton Florida area would become more affordable so you could bring the pleasures and benefits of home ownership to your family, it's time to start looking.
If you are a senior looking for a warmer clime in which to retire, or maybe just a seasonal golf course or waterfront home or condo to escape the harsh northern winters, Bradenton Florida may be the right place and this may be the right time to make your move to the Florida SunCoast.
If you would call me at 941-228-2321 or e-mail me at brianward@remax.net, it would be my pleasure to be of service to you by either just answering your questions or showing you the many fine home and condo values available here. You may also want to visit my Sarasota Bradenton real estate website for information on the many golf course and waterfront communities here, all of which offer the delightful Florida SunCoast lifestyle.
6 comments:
Homes are adjusting to livable prices.
homes are trying to adjust to livable prices, but interventions will not allow this, look for property to slowly continue its depreciation as unemployment rises.
Bradenton is one fine town and I yoo enjoy showing homes in your hometown, Brian
This is the right time for investment.
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Prices dropped to $144,800 from $246,300, that too in an year's time is unbelievable. I think it is high time to invest there. Prices here are of march but i believe not much difference of rate would be there in current time.
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