buyer: More Florida Buyers Are Paying Cash
- 02/09/11 01:02 PM
With condos and homes selling for up to 60% off their all time highs, investors, move-up home buyers, and luxury home buyers are finding value in Florida real estate. In December 2010, almost half of all buyers paid cash in the major markets in Florida. In the Tampa Bay area, over 44% of all buyers paid cash. In Miami, over 54% of buyers paid cash. Last year about 28 percent of all sales in the U.S. were cash transactions, according to the National Association of Realtors®. In 2008, the rate was only 14 percent. In the last week, Zillow, The Wall Street … (0 comments)
buyer: Wave Of Foreclosures Has Begun In The Greater Sarasota Area
- 08/12/10 03:23 AM
According to data released by California based RealtyTrac Inc., total foreclosure filings in the three-county region surrounding Sarasota jumped to 3,349 during July, a 40 percent increase from a month earlier and a 10.6 percent increase from July 2009. While much of the reason for the rise stems from resets on adjustable-rate loans, market watchers are also seeing an increase in commercial foreclosures. Records also show a steady flow of luxury properties going into foreclosure. At least eight homes in the million-dollar-and-over range fell into foreclosure in July. The largest was a $2.08 million loan on a 5,569-square-foot house on Osprey Point Drive. … (0 comments)
buyer: Getting Approved For A Mortgage Is About To Get Harder
- 09/29/09 03:18 AM
For the second time in less than 3 months, Fannie Mae announced changes to its mortgage guidelines. The updates are meant to reduce the mortgage firm's overall risk. The first major change is with respect to credit scoring. All Fannie Mae loans -- whether underwritten electronically or manually -- require a 620 credit score minimum. There are very few exceptions. A second change relates to loans with private mortgage insurance. Homeowners whose loan-to-value exceeds 80 percent now have a choice: Accept higher mortgage insurance premiums month-after-month Accept a one-time fee paid at closing to compensate for higher risk Both options pass higher costs to … (3 comments)
buyer: Home prices and sales surge in Sarasota / Bradenton
- 08/13/09 04:14 PM
Housing prices in the Sarasota-Bradenton market posted a nearly 10 percent increase during the second quarter when compared with the first three months of the year, and sales rose 20 percent. http://www.heraldtribune.com/article/20090813/ARTICLE/908131058/2107/BUSINESS?Title=Home-prices-and-sales-surge … (0 comments)
buyer: International Buyers Keep The Luxury Real Estate Market "Humming"
- 11/14/08 04:00 PM
The New York Times reported on November 6th that real estate agents around the country are ratcheting up their efforts to woo the Russian oligarchs, Korean industrialists and other international buyers who have been making headlines with splashy top-dollar purchases. With the outreach of the Internet, it is much easier for a web savvy agent to get their properties in front of people from all over the world. In the last six months, Cornerstone Properties has tracked visitors to our website from over 81 countries worldwide. As global equity markets slow, we are seeing a different type of international buyer. In the … (0 comments)
Local insight about the Tampa & Sarasota areas, economic conditions that affect the luxury housing market, and unique marketing ideas that help you sell your home.
Steve Eckhardt is the Founder, President, & CEO of Cornerstone Properties & Investments. He has been recognized by Who’s Who In Luxury Real Estate and has established himself as one of the area’s preeminent purveyors of luxury homes. His company, Cornerstone Properties & Investments, is a full service luxury boutique firm listing and selling some of the most expensive properties in Greater Tampa Bay and the Sarasota Gulf Coast Regions. His skilled team is committed to providing legendary client service with an unparalleled standard of integrity and expertise. Known for high-profile properties and clients, Steve can provide access to the most exclusive neighborhoods with complete confidentiality. His high regard for client's privacy is what keeps them referring friends and colleagues. We serve the Greater Tampa Bay, Clearwater, St. Petersburg, Sarasota, Siesta Key, and Longboat Key markets.
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