David Barr's Sarasota and Venice Real Estate Blog

This past weekend I had the privilege of showing properties to buyers on Palm Island.  Palm Island is accessible only by ferry or private boat, and offers beachfront cottages and homes for sale.  The ferry is located just north of the Boca Grande Causeway off Hwy 776. We viewed 8 homes, including a couple within Palm Island Resort.  Homes outside the resort have a combination of pools and tennis courts in their homeowner's association.  Within the resort, homeowners have pool, tennis, as well as concierge services. You can view Palm Island properties for sale on my website:   http://www.davidbarrhomes.com/#!placida/c154p The ferry service is not for everybody.  I can understand why some would have concerns about accessibility to the mainland, especially in an emergency.  Palm Island has fire personnel, and emergency services are readily at hand no matter the time of day.  If you like seclusion and uncrowded beaches without high-rise condos,...

I have a couple of buyers under contract.  It's at this point in the buying process that I emphasize the role of the home inspection.  The key to a smooth transaction and happy buyers and sellers is making sure both parties understand the terms they agreed to in the contract regarding the inspection and repairs. The home inspection is not to be used to negotiate a further price reduction or concessions from the seller, unless latent (hidden) material structural problems or improperly functioning systems are discovered. In a traditional sale , the buyer has a right to an inspection during the agreed-upon inspection period.  Per the new FARBAR Purchase and Sale Contract, cosmetic items (visible items not affecting the structure or function of the property) the seller is NOT obligated to repair as a result of the inspection are outlined on page 5.  Major systems such as roofs, HVAC, and pools, are required to be in working condition (performing the function th...

Some current customers of mine have an accepted offer on a bank owned foreclosure. All foreclosure contracts are as-is with right to inspect, meaning the buyer is accepting the property in it's current condition at the time of the offer.  The buyer has the right to have a home inspection to discover any potential hidden defects, not readily visible to the buyer, that may affect the value of the property or may cause the buyer to spend more money than planned on repairs. Most as-is contracts specifically state how much money a bank will spend on repairs.  This number is usually $0.00.  This was the case with the contract for these buyers. I discovered water damage in the home due to an apparent roof leak, while performing a service to the buyers by taking a video walk-through of the property and providing detailed pictures of the interior and exterior.  I discovered this damage during the inspection period negotiated in the contract. At this point in the pur...

What's happening now in the Sarasota real estate market? As little as 6 to 8 months ago, cash buyers were flooding the market, snapping up single family homes and condos in the $100K range.  Most of those types of properties were seeing multiple offers and bidding wars. Now, this type of activity seems to have moved up market, but with a different type of buyer. I've been showing single family properties in the mid $200's to low $300's to a couple of different buyers over the past month.  We are encountering multiple offer situations, and properties going under contract quickly.  Buyers in this price range seem to be looking for a primary residence, who have sold other property in an improving real estate market. My advice to home buyers in this price range is essentially the same as I've given in the past.  Make sure you are ready with your financial information (proof of funds document for cash purchases or mortgage pre-qual letter for mortgage), and prep...

Is it a conflict of interest if you work with a buyer's agent, and you then make an offer on a home listed by another agent with the same real estate brokerage? According to FL law, the answer is no.  In practice, the answer is maybe, especially in the luxury sphere. Many real estate firms pride themselves on  getting "both sides" of the real estate sale, meaning different agents from the same brokerage represent the buyer and the seller in a transaction.  Some brokerages post their listings on their websites first.  Nothing illegal with this at all.  But does this serve the prime interests of a buyer, or the brokerage? My philosophy is that a buyer who hires me to be their buyer's agent deserves an equal opportunity to view all properties that meet their criteria, not just those of my brokerage first. Read more about buying real estate in the Sarasota area on my website: www.davidbarrhomes.com/buyers www.davidbarrhomes.com/buying_process www.davi...

Looking for the best real estate deals on the market right now in the Sarasota area? I just updated my best deals page on my website, www.davidbarrhomes.com/best_deals , with my latest picks. Today's update includes luxury waterfront homes at up to half their last sale price at the height of the market. If you have interest in these homes and condos, or any like them, please let me know and I'll be happy to help.

Have you been searching for Sarasota, Bradenton, Venice, or Englewood real estate and found the process frustrating? Many of my competitors advertise that you can see listings for these areas on their websites.  This is true, but it takes a bit more work for the consumer.  Most make you go to a blank search form for the MLS, and if you aren't that familiar with our area, the results you get back may not be exactly what you're looking for. When I created davidbarrhomes.com, I put myself in the shoes of the customer.  I have specific pages with real estate listings for over 45 popular local towns, areas, and neighborhoods in the greater Sarasota area.  Want to search for homes west of the Trail in Sarasota?  I have a page for that:   www.davidbarrhomes.com/west_of_trail .  The public MLS does not have a field for this geographic area, and unless you are from the here, you may not be exactly sure of the boundaries for what the locals call west of Tra...

Getting a mortgage for a condo in Sarasota , or any other area in Florida, is possible but not an easy process.   To make the process as easy as possible, please use a local lender. If you are planning on using your condo as a vacation home, you will need at least 30% down, regardless of your credit score, as of this writing.  If you are using your condo as an investment property, the 30% down still applies but you will likely have a higher interest rate. As a buyer, you should get a mortgage qualification letter from your lender prior to starting your search .  One thing to watch is condo association fees.  The average condo fee in the Sarasota area is $350 per month.  These fees can negatively affect your income/expense ratio and could decrease the price range of the condo you can afford to purchase. Banks no longer check just your own individual credit when making a lending decision.  They are interviewing condo associations through written questi...

People are always asking me why real estate in Punta Gorda and Port Charlotte is relatively less expensive than Sarasota and Venice.  The simple answer is:  they're not close to a beach. To get to a beach from either PG or PC, you have to take a lengthy journey down Hwy 776 to get to Englewood Beach or Stump Pass State Park.  In some cases you're looking at a 40 to 45 minute drive. Real estate is driven by demand, and demand for real estate within easy reach of a beach in FL is in higher demand, hence part of the reason for the higher real estate prices in the Sarasota area. So why aren't Charlotte County officials looking into some kind of bridge over Charlotte Harbor directly to one of their beautiful beaches?  I know there's all kinds of environmental issues, but wouldn't the tolls they could charge on the bridge, and the access fees, the fishing piers, and the increase in real estate tax receipts from increased values, make a bridge worth a look? Just a...

In case you missed it, I have several pages on my site devoted to real estate that can be hard to find on the public MLS. On davidbarrhomes.com , you can find: Pool homes :  Single family homes with private pools Gated communities :  Single family homes in gated communities Turn key furnished condos :  Great for investors or out of town buyers Villas :  Single story, detached or semi-detached properties, managed like condos.  Maintenance free! Townhomes :  Perfect for buyers looking for townhome-style properties New home listings :  All the latest new construction offered for sale in the MLS Owner financing :  If you've got 30-50% for a down payment, you can see available properties offering non-qualifying assumable loans or owner financing 55 and over communities : View condos and villas for sale Vacant land :  Lots and land for sale for building your vision You can find these links on davidbarrhomes.com under the "More Ch...

We all hear about great customer service when working with our real estate clients.  One part of the great service we often don't talk about is shielding our clients from unnecessary stress or problems that arise when working with other Realtors during a transaction. Our profession is constantly in a state of change, especially when it comes to real estate law and the documents involved, such as contracts and disclosures. Many Realtors get distressed when I tell them that a seller's disclosure is no longer required in Florida, unless the seller is making a negative disclosure about the property.  I have no problem providing a buyer with a seller's disclosure if the listing agent went to the unnecessary trouble of having a seller complete the 5 page disclosure.  Unless there is a negative disclosure, a buyer working with me is not signing or initialing an unnecessary 5 page document.  There's enough paperwork already. Other Realtors seem to have a problem with ...

Yes, that may seem a silly question, but I keep seeing a lot of confusion about what a video actually is in reading real estate industry articles, as well as in our own MLS. Still photos, set in motion with animation and sometimes with a music track, is not a video.  It is an animated slide show.  Our own MLS offers a "virtual tour" feature that costs a whole $2 for the listing agent. I would not dare post an animated slide show as a video on YouTube.  YouTube users are sophisticated and want to experience real video of your subject, whether it's a hike, a scenic vista, or a home tour. This is exactly why I provide real video for buyers and sellers on my YouTube channel, sarasotahomes .  Buyers can preview a home from long distance exactly as they would walk through it themselves.  I provide this service for my home listings as well as for buyers who are familiar with an area or a condo complex, and want to see an individual property. Read more on my we...

I read an interesting article on real estate marketing and the basic business card. The premise of the article was "My Face is Not My Brand".  It went on to say there's a divide in the real estate community about putting faces of agents on everything from cards to yard signs to real estate websites.  I call this vanity marketing. I am of the school that believes no one is going to select me or not select me because of how I look.  I have always said I prefer to work with people that select me as their agent because of my knowledge and local experience.   Here's something to think about:  Do doctors or employees of major corporations put their head shot on their business cards? Vanity marketing might be great for politics, but it's not so great for real estate. Do we even need business cards at all in the digital age?  Now there's a topic for a future blog.

Woo hoo! I got an email today from Trulia to let me know my profile on their site ranks in the top 1% of agents nationwide, for views by real estate consumers. I'm not a big fan of Trulia and it's major competitor, Zillow.  In fact, I think these two sites do more to damage the real estate business than anything Congress or a bad economy have done.  Why?   Read more here. However, these two sites do receive a lot of traffic, and offer free exposure for me to promote my brand and my online presence, including my website and this blog.  I consider it one of my missions as a Realtor to help consumers who post questions on Trulia's forum, understand why so many of their "listings" are not available for sale, and why so many of their property value estimates are flat out wrong.

The recent case of a lawsuit against a Tampa area real estate agent for a violation of the US Fair Housing Act in the public remarks on their listing prompted me to blog about this law and what it means for real estate buyers. The Fair Housing Act states, i n the sale and rental of housing:  No one (Realtors or property owners) may take any of the following actions based on race, color, national origin, religion, sex, familial status or handicap: Refuse to rent or sell housing Refuse to negotiate for housing Make housing unavailable Deny a dwelling Set different terms, conditions or privileges for sale or rental of a dwelling Provide different housing services or facilities Falsely deny that housing is available for inspection, sale, or rental For profit, persuade owners to sell or rent (blockbusting) or Deny anyone access to or membership in a facility or service (such as a multiple listing service) related to the sale or rental of housing. Advert...

Our MLS provides some excellent, cutting edge tools that many local agents are probably not utilizing to help their clients access Sarasota real estate listings on their mobile devices.  I am always looking for common sense, easy to use features to help my clients find the right property and learn more about our local real estate market. In fact, our MLS tools are so advanced that you don't even have to download an app, and you don't have to worry about your OS. Scan the code above, or click here to go directly to a mobile-optimized MLS search site with advanced map searching. Please contact me with any questions.

Divosta is one of the most reputable new home builders in our area.  Divosta communities are known for solid poured concrete walls, precision interior fit and finish, and resort-style amenities.  Village Walk in Sarasota in Palmer Ranch, in particular, has it's own salon, gas station, fitness center, restaurants, and stunning community pools overlooking lakes and bike trails. Divosta communities offer a nice range of property styles that will appeal to most buyers.  Styles include paired villas with 2 bedrooms, townhomes with 3 or 4 bedrooms, and single family homes with 2 to 4 bedrooms.  The paired villas and townhomes can usually accommodate private pools. Because Divosta Homes have such a solid reputation, I have created a web page devoted only to available re-sale homes in Divosta communities in my service area, which you can view here:   www.davidbarrhomes.com/divosta_homes . I update the property listings every week, and I include a location map alo...

I just read an article from Inman News, the real estate news source, about Trulia's changes to their "listings" and their mobile app. I've blogged about Zillow's inaccurate data several times, and Trulia is not much different.  Trulia scrapes local tax data and posts pre-foreclosure and foreclosure properties as available for sale, when they are not.  Every single day, I respond to questions from confused buyers on the Trulia forum about these types of homes. Trulia is touting updates and changes to their mobile app in an effort to get buyers to use it and sell advertising on the app to real estate agents. For buyers, the same inaccurate Trulia "listings" will show up on their mobile app.  I can imagine a buyer pulling up outside a home they found using the Trulia mobile app, calling the featured real estate agent from the app, and asking about a home that isn't for sale.  End result:  a disappointed buyer and an agent who paid for the privile...

As you may have read in a previous blog post, many of the customers I work with are interested in a condo, when sometimes a single family home might actually be a better option. If you are the type of buyer who wants the lower maintenance benefits of a condo, but like the idea of a single family home, a villa-style property may be a great option for you. In the Sarasota area that I serve, a villa is considered to be detached or semi-detached (shared wall), and is managed in an owner's association much like a condo. Villas are ground floor, so you don't have to worry about stairs, and have more outdoor living options like a larger patio or a lanai, than a typical condo unit.  The yard and common area maintenance are covered by the owner's association dues, just like a condo.  Some villa communities even allow individual units to have their own private pools. Are you now intrigued by the idea of a villa property in the Sarasota area?   Visit my website to see a li...

Technology is rapidly changing the way we do business in real estate.  I'm a huge proponent of using the latest tools and techniques to help buyers and sellers of Sarasota FL real estate, because technology helps the process move more quickly and easily. One of the tools I've been using is DocuSign .  I've watched clients sign offers on their I-Pad or tablet PC, and even self-admitted computer-challenged clients find it is easy to use. DocuSign offers legal, secure signing online and eliminates paper, time consuming scanning, and faxing. If you are a buyer, bank owners of foreclosure properties specifically ask for highly legible, non-hand-written documents.  DocuSign is a great way to help your offer stand out in a competitive multiple offer situation, because in part there is no degradation in print quality.  It also greatly reduces missed initials or signatures that can cause your foreclosure offer to be rejected by the bank.