Larry's Sarasota Blog

Sarasota Florida, Beaches, Parks, Points of Interest and Yes, Real Estate Info too

Tag: Sarasota Page 2 of 6

Florida Homestead Exemption

By

On December 21, 2021

In Florida Homestead Exemption, Home Buying

Are you a permanent Florida Resident and homeowner?

If you are, have you filed for the Florida Homestead Exemption?

Decorative Image
Sold by Larry Brzostek

Hi, I’m Larry Brzostek with RE/MAX Alliance Group. I can walk you through what the Homestead Exemption is and why it matters to you.

What is the Florida Homestead Exemption?

As a permanent Florida Resident and homeowner, you are entitled to get a homestead exemption on your primary residence.
The exemption is a $50,000 reduction of the assessed value of your home which determines your property taxes.

What are the eligibility requirements for the Homestead Exemption?

To be eligible for the Homestead Exemption your home must be your primary residence as of January 1 in the year you are filing. If you rented the property in the previous year, you only could have done so for a maximum of 30 days.

When should I file an application for a homestead exemption?

Your application must be filed between January 1 and March 1. The March 1st deadline is in year you are filing.
You can file online in Sarasota County using the Sarasota Appraiser’s site
https://www.sc-pa.com and look under Exemptions. If the property you are homesteading is in another county, look under that county’s appraiser site.

What documentation do I need to file for the homestead exemption?

All documentation must show your permanent residence address.
You will need:
• Valid Florida Driver License or Valid Florida Identification card with the ID number and issue date.
• Florida Vehicle registration (if vehicle owner) with tag number and issue date.
• Voter registration (if registered voter) with ID number and issue date.

If you are not a citizen, you will need your Permanent Resident Alien Card with ID number and issue date.
(Also, you must submit a copy will be as part of the exemption application).

What other information is on the exemption application?

You will also have to provide the following:
• Date of birth
• Social Security Number (if you are married, you will also be required to provide your spouse’s SSN)
• Date you purchased the property
• Date you occupied the property
• Address of previous residence
• Address of other property or properties owned
• Telephone number
• Employment information (if applicable)
• Mailing address listed in last IRS tax return

Married couples filing for homestead exemption must complete the application during the same application session. If you are married AND your spouse is NOT filing for homestead exemption, you will be asked to provide the following information:

• Name of spouse
• Spouse’s Social Security Number
• Spouse’s Date of birth
• Spouse’s Florida Driver License or Florida Identification Card number (if applicable)
• Spouse’s primary residence address & residency-based exemptions/discount information

In addition to the homestead benefit the Save Our Homes (SOH) cap was established in 1995 according to Florida Statutes. The SOH cap is placed on the Assessed Value the year after the property receives a Homestead Exemption and is based on the lower of the following:

Three percent of the Assessed Value of the property for the prior year, or the percentage change in the Consumer Price Index (CPI) as reported by the U.S. Department of Labor, Bureau of Labor Statistics. This means your taxes will not increase by more than 3% in any given year.

In 2008 a constitutional amendment was passed adding portability of the exemption; allowing some or all of the exemption to be transferred to another home. Very beneficial to a homeowner who trades up to a larger home or one who downsizes to a smaller one.


Do you qualify for additional homestead exemptions in Sarasota?

To find out if you qualify for additional homestead exemptions,
Contact the Property Appraiser’s office in the county that your property is located.

Hopefully this information will help you. Happy homesteading!

For more information Call or Text me @941-993-3125
And Checkout my Website
LarrySellsSarasota.com

Stage Your Home to Sell

By

On November 25, 2021

In Information, Real Estate

Infograph
Stage Your Home to Sell

Stage Your Home to Sell

To earn top dollar and sell your home more quickly, you need to make it stand out from the competition. And one of the best ways to do that is through staging.

4 Reasons to stage
1. Your home will shine online. Buyers first found 92% of the homes they visited on the internet. Good staging can make your home stand out before buyers even visit.
2. It shows off the potential. 77% of agents say staging makes it easier for buyers to visualize a property as their future home.
3. It spurs walk-throughs. Clients are more willing to walk through a home that has been staged, according to 40% of agents.
4. Your home will sell faster. Nearly two-thirds of agents say staging decreases the amount of time a home spends on the market.

6 most important rooms to stage
1. Living Room
2. Master bedroom
3. Kitchen
4. Outdoor space
5. Dining room
6. Bathroom

“Staging is preparing a home for sale so the buyer can mentally move in.”
Barb Schwarz, California Realtor and chairwoman of the International Association of Home Staging Professionals.

Simple fixes agents recommend
Declutter – 93% (“Clutter eats equity.” says Barb Schwarz.)
Full home cleaning – 89%
Carpet cleaning – 81%
Remove pets before showings – 80%
Make minor repairs – 75%
Depersonalize the home – 72%
Paint walls – 68%

Cost of professional staging
Most stagers charge $300 to $600 for an initial consultation, then $500 to $600 per room per month.

Sources: NAR 2017 Profile of Home Staging, Househunt.com, realtor.com, Barb Schwarz

I hope this information keeps you informed and I thank Florida Realtors for allowing us to share this.

Have a Great Day!

As always, for all your Real Estate needs in the Sarasota Area
Call or Text Larry @ 941-993-3125
or
Go to Larry’s RE/MAX Site and search all you like LarrySellsSarasota.com

Zillow is out of the home-buying business

By

On November 25, 2021

In Information, Real Estate

by Peter Crowley, President of RE/MAX Alliance Group

Peter Crowley
Peter Crowley, Broker/Owner RE/MAX Alliance Group

Last week Zillow sent a shock wave through the real estate industry when it announced that it was exiting the home-flipping market and terminating its Zillow Offers program. Just a few weeks earlier, Zillow claimed it was merely pausing its purchasing efforts in order to catch up with the backlog of properties it currently held in its pipeline. Ultimately, Zillow’s CEO, Richard Barton, realized the decision was more permanent when he stated, “We’ve determined the unpredictability in forecasting home prices far exceeds what we anticipated, and continuing to scale Zillow Offers would result in too much earnings and balance-sheet volatility.”

This had many real estate professionals claiming a win over the 1,000-pound gorilla that is Zillow. For years, the Zillow Zestimate has been the bane of the real estate agent’s existence as an often wildly inaccurate estimate of a home’s value. Zillow claimed to have refined its home-valuation algorithms to the point where it could accurately predict what price to buy and then subsequently flip the house at a profit. In reality, however, closer analysis of Zillow’s property portfolio demonstrated that it was overpaying for properties (a win for some sellers) but eventually listing and selling those properties at a loss. This may not seem like a big deal for a company the size of Zillow, but those losses will likely total in excess of $500 million when all of the write-offs are accounted for as the program winds down. Even with a balance sheet as large as Zillow’s, this is a big financial hit, and investors have taken note with a beating to the stock price in recent weeks.

I have been reluctant to high-five my fellow real estate agents over this news. First, as a result of terminating its Zillow Offers program, they announced a reduction of 25% of their workforce – that is more than 1,000 individuals who will be out of work and should not be overlooked. Second, and maybe less obvious, is that Zillow is still the behemoth that it was before this setback. It is still a company that relies heavily on the paid advertising platform that was the foundation of the company’s success. Who pays for that advertising? Many of the same real estate agents who were pounding their chests when Zillow swung and missed on the Zillow Offers program.

Rest assured, I am not a cheerleader for Zillow. Ever since the company stood on stage several years ago and insisted that it was only a marketing company and would never enter the real estate business, only to turn around and do exactly that a few years later, let’s just say I have a healthy dose of skepticism about the company’s intentions. But as long as Zillow maintains its grasp on the real estate consumer, it will continue to pivot toward profitability and growth – eventually.

What this setback does demonstrate, however, is that real estate is in fact very local. A real estate professional does more than place a sign in the yard. The local expertise of a real estate professional lends itself to better pricing decisions, a cadre of local connections to vendors integral to the home-buying and selling process and an overall understanding of the intangible nuances of the local real estate market. Algorithms and a seemingly endless supply of cash can fix some things, but some things are better left to the local experts.

Peter Crowley is the president of Re/Max Alliance Group.

We would like to thank our guest author Peter Crowley
Larry and Ann Brzostek

As always, for all your Real Estate needs in the Sarasota Area
Call or Text Larry @ 941-993-3125
or
Go to Larry’s RE/MAX Site and search all you like LarrySellsSarasota.com

Home Selling Process – Explained

By

On October 21, 2021

In Home Selling, Real Estate

The Home Selling Process – Explained

Right now, there are not enough houses for sale, with many buyers looking at a small inventory.
So, if you’re thinking about selling your home, now is the ideal time to put your house on the market. Many houses are selling above their asking price, which means more money in your pocket.

But how do you sell your home?

First you meet with a real estate professional.
There is no commitment required on your part for an initial meeting. It will be educational and help you identify your next steps.

I’m Larry Brzostek a Broker/Associate with Re/MAX Alliance Group and I will guide you through the process.

Establish a Price
As your agent I will provide a market analysis, which will help you set an asking price.

Tips on Strategic Pricing
It’s important to review the market analysis and consider your home price objectively.

Prepare Your Home
View your home through the eyes of the buyer and ask yourself what you’d expect. I will offer some useful suggestions.

List It For Sale
When everything is in place, I will put your home in the Multiple Listing System. It’s critical for potential buyers to view your home.

I will also create a virtual tour of your home along with a youtube video.
Social media is another important tool and your home will be posted regularly.

Getting your home the most exposure:

I use Adwerx a web company that places your home on Facebook as well as throughout the web on both desktop and mobile devices.

Open Houses are scheduled at your convenience (usually on weekends) but are not always necessary to sell you home.

Tips on Showings
I like to give my seller’s at least 24 hours notice for a showing

However, Potential buyers may ask to see your home on short notice.
It’s best if you can accommodate these requests. You never want to miss a potential sale.

Offers and Negotiation
If everything goes well, a buyer (and most often the agent who represents them) will present me, your agent, with an offer.

I will present the benefits and risks of each offer. You will have the opportunity to either accept or counter any offer based on its merits.

Under Contract
At this point, you and the buyer have agreed to all of the terms and conditions of the offer and both parties have signed the agreements.

Final Details
While under contract the buyer will work with their mortgage provider to finalize the loan and perform other due diligence.

Inspection Tips
The buyer will usually perform a physical inspection of the home. They may even ask you to make certain repairs. I will explain all your options regarding the inspection.

Closing
This is the transfer of funds and ownership. Depending on when the buyer moves into the home, you will need to be all packed up and ready to move.

CONGRATUALTIONS!
You’ve successfully sold your home.

Thinking of Selling?
I can help! Contact me and let’s talk!
Call or Text me @ 941.993.3125

Have a Great Day!
Larry

As always, for all your Real Estate needs, call or text Larry @ 941-993-3125
or
Go to Larry’s RE/MAX Site and search all you like LarrySellsSarasota.com

Tips for Buying a Vacation or Second Home

By

On October 20, 2021

In Buying a Vacation or Second Home

Location! Location! Location!
Sarasota, Florida is accessible, close to airports and major highways.
It is one of the most beautiful locations in the USA. Magnificent Beaches, Arts and Entertainment are all here in this Paradise on the Gulf Coast!

I’m Larry Brzostek a Broker/Associate with Re/MAX Alliance Group and I will guide you through the process.

Types of Property
A second home can be a single family home, a condominium or a multifamily with 2 or more units (adding the possibility of rental income
Each type of property has its own pros and cons.
Consider carefully how you will use the property. If you like to work on your home, choose a single or multi-family.
If you prefer all maintenance to be done for you, then a condominium with a monthly maintenance fee
Deciding what you like and how you will use it should give you direction in your search.

  1. Consider how you’ll use the home. Will it just be for family and friends, or do you plan to rent it as well? And realistically, how many times will you use it per year?
  2. Evaluate locations. Are there enough amenities and attractions to keep you – and renters – coming back year after year?
    Local building and zoning codes should be investigated.
    Are they restrictive or nonexistent?
    Does the property conform to the codes and can the property be rebuilt in event of damage.
    These are important questions.

Availability and Inventory
In this fast changing Real Estate Market it is important to know what homes are available.
Its is also important to Get prequalified (a loan approval for a certain dollar based on finding an acceptable property) cuts down on the closing time.

Negotiating
Once you have found the property that suits your needs, negotiating the transaction can make it yours.
The more questions you ask (and get answers to) the more able you are to sketch out an offer that will be acceptable to the seller.
Every real estate transaction has 3 elements – Price, Terms. and Conditions.
Neither buyer nor seller always gets all three.
For example, a buyer willing to meet the seller’s price might want concessions on the terms (ex. large mortgage contingency, later closing) and/or conditions (repairs to property, extra items included).
How long a property is on the market is not confidential and may give you some insight to make a win-win proposal for both parties.

Financing and Tax Considerations
Talk to your accountant or financial advisor
This person can advise you on such issues as the tax implications of rental income (should you decide to rent your property and changes in Federal tax laws that could impact deductions.

Working with an Agent
I am a professional Real Estate agent and make my living marketing and selling properties.

Knowledge:
Knowing the Comps (comparable properties that are listed and more importantly, comparable properties that have recently sold) can be critical in your decision on the offer you make on the property.

Experience:
I’ve been selling second homes and vacation properties since 1986 starting on Long Beach Island, NJ and Here in Sarasota, FL since 2005.

Dependability:
I am always available to meet the needs of my clients
No location or town is perfect; a successful agent knows the pluses and minuses of the area. A good agent can help you find your dream house; a great agent can make it a pleasure!

Service:
Expect outstanding service and GET IT!

Check out my website LarrySellsSarasota.com
Look around you can search for properties and find more information about Sarasota and much more

CONGRATULATIONS!
You are a Second Home Owner

For more information Call or Text me @941-993-3125

And again I invite you to checkout my website
LarrySellsSarasota.com

Have a Great Day!

Larry Brzostek, CRS, CLHMS
RE/MAX Alliance Group, Sarasota, FL

Sarasota Real Estate Market Update | October 2021

By

On October 15, 2021

In Real Estate Statistics

Information courtesy of RE/MAX Alliance Group – Sarasota, FL

Sarasota Real Estate Market Update
Sarasota Real Estate Market Update

Welcome to October’s Real Estate Market update.

Let’s take a look at residential real estate
activity in your area during the month of September.

The number of active listings was down 55% from one year earlier and down 9% from the previous month.

This smaller inventory means that buyers who waited to buy may have had a smaller selection to choose from.

As you can see the median listing price for the month was just over$510,000.

Compared to last year the average number of days units spent on the market before being sold was down 74%.

This lower number of days may signal
a positive trend in the local inventory turnover rate.

The median sale price was just over $400,000.

The number of units sold decreased 6% year over year and heald steady month over month.

Even though sales figures were down from a year ago, the recent local market conditions were basically unchanged.

Thanks for watching. I hope you found this video helpful as you gather more information to make smart informed real estate decisions.

If you’d like more information or assistance please Call or Text me @ 941-993-3125

Larry Brzostek, CRS, CLHMS Broker/Associate
RE/MAX Alliance Group

Search Sarasota Listings @ LarrySellsSarsota.com

2984 Jeff Myers Circle a Classic Luxury Estate Home

By

On October 13, 2021

In Luxury Home, Real Estate


Welcome to 2984 Jeff Myers Circle in the gated community of Laurel Oak Country Club

2984 Jeff Myers Cir Sarasota.mp4 from MoneyShotSRQ on Vimeo.

Take a 3D Tour

MLS# A4513780 Offered @ $2,000,000
View Listing Details

You walk into the dramatic 2-story entrance where the living room with a gas fireplace opens to the pool and lanai.

This 5060 SqFt classic luxury colonial home is truly special with 5 bedrooms (4 on them en-suite), 4 full baths, 2 half baths and 3 gas fireplaces.

The screened lanai and pool feature an outdoor kitchen, lagoon style pool and spa with a preserve view for privacy.

 There is a formal dining room with crown molding.

 The open floor plan includes a kitchen with granite counters and center cooking island with a breakfast area, a sun room.

Beyond is the family room with the second fireplace; also opening to the pool and Lanai.

The master bedroom is where you will find the third fireplace it features a sitting room, master bath with dual vanities, granite counters, garden tub and shower. Dual walk-in closets with built-ins

Laurel Oak Country Club 

Laurel Oak Country Club is 813 acres with only 402 homes

The country club has two 18-hole golf courses 12 tennis courts junior Olympic heated pool and a 45,000 square foot clubhouse

Membership is not mandatory for those who want to live in laurel oak and there are several levels of membership to choose from.

Have a Great Day!

As always, for all your Real Estate needs in the Sarasota Area
Call or Text Larry @ 941-993-3125

Go to Larry’s RE/MAX Site and search all you like, you can contact Larry directly from the website LarrySellsSarasota.com

Larry and Ann

Protect Yourself From Wire Fraud

By

On October 1, 2021

In Finance, Real Estate

Infograph
Protect Yourself from Wire Fraud

You’re finally buying your dream home. It’s time to wire your closing costs to the title company. You follow the directions of an email that came to your inbox. Only, the email was fraudulent, and you just lost your hard-earned cash… and the house of your dreams.

It’s called wire fraud, and it’s happening all around the country. Criminals comb through sites looking for pending home sales. Once identified, they will find contact information for the parties involved in the transaction. It’s easy to do through public websites and online searches. Then, they hack into a real estate agent’s or title company’s email system, monitor communications, and, when the time is right, send a fraudulent email that looks like its from a trusted advisor. That email will offer falsified wire transfer instructions to steal mortgage payoff funds, a downpayment or closing costs.

How can you avoid being a victim?

  1. Be skeptical.
    Beware of any changes in wiring instructions, like those that have you wire money to a company that is not the same name as the title company you’re using.
  2. Ask for phone calls.
    Ask for all wire transfer instructions to be delivered to you via phone with the number listed on the title company’s website. If you receive an email that details changes in the wire transfer instructions and that email contains a phone number, don’t call it.
  3. Verify all communications.
    Call the title company immediately after you send any funds via wire transfer to verify it right away. This check-in will give you the confirmation that you sent the funds to the appropriate account and the confidence and peace of mind that the transaction wasn’t real estate fraud.
  4. Confirm the details.
    Ask your bank to confirm the account number as well as the name listed on the account before sending a wire transfer.
  5. Learn to spot a fraudulent email.
    There are telltale signs that an email is a fraud. Look for misspellings, poor grammar and mistakes in the content. Many times, the property address is spelled incorrectly, dollar figures are missing dollar signs, and the return email address doesn’t match, or the company name is spelled incorrectly.

If you are a victim of a wire fraud crime in Florida, call the Attorney General’s Fraud Hotline at (866) 966- 7226. You should also file a complaint with the Federal Bureau of Investigation (FBI). To do so, contact the nearest FBI field office. Locations are listed at fbi.gov/contact-us/field-offices

Sources: altitle.com and Bay National Title Company
Florida Realtors

I hope this information keeps you informed and I thank Florida Realtors for allowing us to share this.

Have a Great Day!

As always, for all your Real Estate needs in the Sarasota Area
Call or Text Larry @ 941-993-3125
or
Go to Larry’s RE/MAX Site and search all you like LarrySellsSarasota.com

Sarasota Real Estate Market Update for September 2021

By

On September 15, 2021

In Real Estate Statistics

Information courtesy of RE/MAX Alliance Group – Sarasota, FL

Decorative
Sarasota Real Estate Market Update

At RE MAX we know the market.
Welcome to September’s Real Estate Market update.

Let’s take a look at residential real estate
activity in your area during the month of August.

The number of active listings was down 59% from one year earlier and down 10% from the previous month.

This smaller inventory means that buyers who waited to buy may have had a smaller selection to choose from.

As you can see the median listing price for the month was just under $510,000.

Compared to last year the average number of days units spent on the market before being sold was down 76%.

This lower number of days may signal
a positive trend in the local inventory turnover rate.

The median sale price was just under $390,000.

The number of units sold decreased 7% year over year and decreased 10% month over month.

Fewer sales could indicate an opportunity for buyers to negotiate better terms.

Thanks for watching. I hope you found this video helpful as you gather more information to make smart informed real estate decisions.

If you’d like more information or assistance please Call or Text me @ 941-993-3125

Larry Brzostek, CRS, CLHMS Broker/Associate
RE/MAX Alliance Group

Search Sarasota Listings @ LarrySellsSarsota.com

Why do I need title insurance?

By

On September 1, 2021

In Home Buying, Information

by Peter Crowley, President of RE/MAX Alliance Group

Peter Crowley, President RE/MAX Alliance Group
Peter Crowley, President RE/MAX Alliance Group

As a co-owner of a local title company, we are often asked, “Why do I need title insurance?” Depending on your circumstance, the answer may vary. As with most forms of insurance policies, no one is typically thrilled to pay for something that you hope that you never have to use. Unlike your homeowner’s insurance or car insurance, however, title insurance is a one time charge that will provide protection for as long as you own your home.

If you are financing your home, your lender will require a lender’s title policy to insure that their security interest in your property (the mortgage) is in superior position to anyone else that may claim an interest in your property. The amount of the coverage for the lender’s policy is the amount of the outstanding mortgage principal. When purchasing a home with a mortgage, because you are already paying for a lender’s title policy, the additional cost for an owner’s title policy is only slightly more and it just makes sense to include the owner’s policy – so that you are covered. The lender’s policy alone does not give you as the owner any coverage.

Prior to closing on the sale and financing of your home, the company conducting the closing will search the public records to discover any liens (public or private), encumbrances (outstanding mortgages or restrictive covenants from a condo or homeowners association) or easements (utility or other agreements to use your property). If there are any issues they may create a cloud on title, which typically must be resolved prior to closing.

Since our local market has a large amount of cash closings, we are often asked, “If I am not getting a mortgage, then why do I need to pay for title insurance?” In this case, an owner’s title policy will protect the owner for similar undiscovered liens or encumbrances that may impact the owner’s ability to use their property as they intended. The amount of coverage for an owner’s title policy is typically the purchase price of the home. In some cases, such as a fraudulent transfer, the owner’s title policy would protect them from the economic loss of not being able to occupy the property. Without an owner’s title policy, your only recourse in the event that a title defect is discovered would be to sue the seller/grantor based upon the warranty deed that you were provided at the time of your purchase/closing. However, if that seller/grantor is deceased, or cannot be located, or does not have the assets to compensate you for any loss you may have suffered, you would be left without a remedy (unless you have title insurance).

We would like to thank our guest author Peter Crowley
Larry and Ann Brzostek

As always, for all your Real Estate needs in the Sarasota Area
Call or Text Larry @ 941-993-3125
or
Go to Larry’s RE/MAX Site and search all you like LarrySellsSarasota.com

Page 2 of 6

Previous

Next

Powered by WordPress & Theme by Anders Norén

The owner of this website has made a commitment to accessibility and inclusion, please report any problems that you encounter using the contact form on this website. This site uses the WP ADA Compliance Check plugin to enhance accessibility.