Sarasota/St. Petersburg Real Estate Blog by Corcoran Dwellings

Corcoran Expands Florida Footprint to Sarasota and St. Petersburg

NEW YORK, NY – January 12, 2022 - 

Corcoran Group, LLC today announced its continued expansion in Florida by welcoming its newest affiliate in Sarasota and St. Petersburg, Corcoran Dwellings, led by Liane Jamason and Marc Rasmussen. The announcement, made by Pamela Liebman, President and CEO of The Corcoran Group, is the firm’s first affiliate launch of the new year.

From the broad beaches of its barrier islands to the vibrant cultural landscape of its downtown core, Sarasota offers an unparalleled array of opportunities for residents and visitors alike. Just recently, U.S. News and World Report named Sarasota as the best place to retire in 2022. Comparably, St. Petersburg is the 5th largest city in Florida known for its youthful atmosphere, historic...

Should I Waive My Home Inspection in a Competitive Market?

 

My sister and brother-in-law are trying to buy a home here in St. Petersburg, Florida or surrounding cities like Largo or Seminole, but like many other buyers in 2021, are getting frustrated. They’ve put in several offers on homes they like under $400,000, but keep getting outbid by cash buyers and institutional buyers paying way over asking price in most cases. It’s a tough situation to be in when you need to get a mortgage.

Finally, we made an offer on one that got accepted – yay! We did a short inspection period and did our inspection on day 1 of the contract. Turns out, the inspector found mold. And lots of it, along with many other items of concern. You see the home was a flip. It looks fantastic on the inside! But one thing the inspector immediately noticed was that there were...

Sarasota and Manatee County Market Statistics - May 2021

May 2021 Sarasota County Real Estate Market Update 

May 2021 was a Seller's market! The number of for sale listings was down 77.1% from one year earlier and down 9.1% from the previous month. The number of sold listings increased 90.1% year over year and decreased 13.3% month over month. The number of under contract listings was down 4.5% compared to previous month and up 28.6% compared to previous year. The Months of Inventory based on Closed Sales is 0.6, down 87.4% from the previous year.

The Average Sold Price per Square Footage was down 0.9% compared to previous month and up 55.7% compared to last year. The Median Sold Price increased by ...

How Are Sellers in the Current Market REALLY Doing?

How Are Sellers in the Current Market REALLY Doing? With a low supply of homes for sale, sellers find sales happen quickly and fetch higher and higher offers. According to a new survey conducted with 1,600 homeowners, here are some statistics to showcase how the real estate market, nationally, is doing.

In the past six months, 82% of listings, or 8 out of 10 properties, sold for list price or higher. Plus 1 in 10 had no showings before contract signing, and 1 in 4 had 5 showings or less. 

What’s more, homes are selling faster too: 25% of home sellers said they had 5 or fewer showings before finding a buyer. 26% had between 6 and 10 showings before selling. Nearly 10% say they had no in-person showings at all and still sold their home due in part to the uptick in virtual tours that have been increased during...

How Long Will the Housing Shortage Last? Years — Here's Why

Thinking optimistically and knowing a little about US homebuilders and American ingenuity, builders might create an average of 2M homes annually and achieve a supply-demand balance in about 6 years.

Courtesy of Inman News. Written by BEN CABALLERO
May 12, 2021

 

Beginning in 1959, the US Census Bureau started to record housing starts. During the 48 years between 1959 and 2006, builders completed 52,941,000 homes for an average of 1,102,938 homes per year.

For the...

Statistics Show April is the Best Month of the Year to Sell a Home

In today’s market, it seems as if it’s always a good time to sell a home because they’re selling fast, often sight unseen. However, this month, depending on the city, may be the best time of the best times to sell a home, according to realtor.com’s 2021 Best Time to List analysis.

From April 18-24, debuting home sellers should see more buyer interest, less competition from other sellers, a faster sale and a higher listing price, the study suggests.

To determine the optimum time to list, the study considered competition from other sellers, median listing prices, time it takes to sell, likelihood of price reductions and interest from buyers measured by views per property on realtor.com’s website. Because of COVID’s disruption in 2020, the analysis included 2018-2019 listing data.

“Unlike 2020...

Historic Belle Haven in Downtown Sarasota Listed For Sale

Perched between the 10-floor Hyatt Regency and the gleaming new 18-story Ritz-Carlton condo tower on 15 bayfront acres being developed under the umbrella of the Quay Sarasota, the Mediterranean Revival apartment building opened in 1926 and just hit the market for $12.5 million.

The three-story Belle Haven has kept its good looks. Designed by architect Dwight James Baum, Belle Haven was originally known as Broadway Apartments and was one of the buildings in the Broadway Development that also included the Baum-designed John Ringling Towers and the headquarters of the Sarasota Times newspaper–now the upscale restaurant and bar Sage. After Belle Haven was completed, developer Owen Burns bought the building for $250,000 and named...

Tampa Bay Housing Market with Liane Jamason

Josh Sidorowicz (anchor):

It has been one of the interesting paradoxes of this pandemic.

On the one hand, as we report so often, so many people are struggling with unemployment to pay their rent and their bills. On the other hand, this Realtor say it's unlike anything they've ever seen. Prices are soaring in houses. They aren't selling in days. They are selling within hours.

I spoke with bay area realtor Liane Jamason. She's been doing this for 15 years. She knows her stuff and she told me that at the rate we are going if no new homes were to come onto the market this area would essentially run out in less than a month. So, here's some of her advice if you're looking or if you're thinking about listing.

Liane Jamason...

6 Gulf Front Communities to Generate Rental Income

Some would say living the Florida dream would be having a residence near the beach that you can stay at whenever you want. Others would argue the ultimate Florida dream is to own a place near the beach you can use AND rent to make some passive income. We work with a number of clients that have an expressed interest in finding property that has the potential to generate rental income. Whether it's used by seasonal tenants or for vacation guests, here are a few condo communities worth checking out if you want to invest on the Gulf to produce some serious spending money. 

Siesta Key

El Presidente...

Bidding War Tips to Make Your Offer Competitive

Bidding War Tips DWELL Real EstateThese are crazy times for our local real estate market. Inventory is at record lows, demand is sky high, prices are climbing... it's a tough time for buyers trying to secure their dream home. We came across a great article in Forbes discussing how to navigate through a multiple offer situation and ways to put yourself in a better scenario to win a bidding war. 

 

In a hot housing market, it’s often not enough to quickly make an offer on a house you just discovered. You’ll likely face competition from at least one other buyer (if not more), and it will be up to the seller to decide who can best close the deal.

To improve your odds of winning a bidding war, you’ll need to...