A True Top Ten for Buying Real Estate in Sarasota.
With the new year rapidly approaching, and with significant data to back our prognostications, here’s what we see as the top trends for Sarasota home buyers in 2012.
#10: Sarasota will continue to be a buyer’s market, with inventory in desirable neighborhoods shrinking and prices expected to bottom out.
#9: Mortgage rates may continue to decline. Buyers will recognize that there is no better return on investment than real estate in Sarasota.
#8: Federal programs may continue to relax the requirements for assistance through HARP and other government assistance, thus keeping some Sarasotans in their homes and equitably releasing other properties to the marketplace.
#7: Big banks and mortgage insurers stung by the back-load of foreclosures will begin a “kindler, gentler” treatment of those in default. At the same time, properties will be released to the market that will entice buyers to invest, remodel, rebuild and repurpose those properties.
#6: More buyers, locally and from out-of-area, out-of-state and out-of-country will be ready to purchase. The bargains will continue well into 2012.
#5: The role of real estate, particularly home ownership, in righting the economy will be a pivotal plank in the political scene as the economy and job creation, two major issues on both sides of the political area in Sarasota, are tied to real estate.
#4: The return of the landlord will also be significant, as multi-family home prices have dropped significantly and the base of renters has increased due to distress in the housing market. Investors will return to the market in droves.
#3: Extra efforts will be made, through local, state and federal agencies, to better regulate, monitor and impede fraudulent transactions by both buyers and sellers.
#2: Buyers will become more confident as the economy improves, and the “trickle down” effect of upgrading, landscaping, furnishing and repairs will recharge the support markets for home ownership.
And the #1 trend for 2012 in Sarasota real estate?
“Real estate will return to its prior status of being the most solid and safe long-term investment, as consumers continue to be rocked by roller-coaster stock markets and unsure retirement plans,” says Broker William True.
Sarasota Real Estate Trends for 2012
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