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6021 Midnight Pass Rd, Sarasota FL, 34242
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October 2013

Found 4 blog entries for October 2013.

September 2013 Sarasota Real Estate Market Report

Seasonal trends in real estate happen everywhere, and the Sarasota real estate market is no different. For a more accurate assessment on the local real estate market regarding homes and condos for sale in Sarasota, statistics should be viewed on a year-over-year basis, not month to month.

Reminiscent of September 2012, late summer tends to have lower real estate sales numbers compared to August highs, but September 2013 showed sales were up 22.5 percent compared to 2012. Compare August 2013 sales of 957 homes and September 2013 sales of 817 homes just in Sarasota County alone and you get a 14.6 percent difference. Most September sales were single family homes compared to condominiums. For example, 545 houses sold compared to 272 condominiums.

Late

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Sarasota Home Buyers Need To Understand and Respect Sellers

The somewhat adversarial attitude many home buyers took toward the people whose homes they wanted to purchase just a few short years ago has now turned into a more open and beneficial relationship. As the economy shows signs of recovering from its multi-year downturn, buyers realize the Sarasota real estate market is now starting to tip toward sellers. Potential home buyers who educate themselves about the issues facing sellers will have a much better chance of finding the property they really want, at a price that helps their budget and shortens the entire purchasing process.

Although the demographics related to Sarasota home sellers haven’t changed substantially, there are some factors a

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The Federal Government is fading out the subsidizing of flood insurance for current policy holders and is not subsidizing flood insurance on new acquisitions. For the cash buyer this means that the decision to buy flood insurance for their at risk home might be a bit more difficult, especially when purchasing a non elevated home. Elevated homes will continue to have relatively low premiums for flood insurance. For the current  home owner there is a mechanism in place for incremental premium increases to the full – non subsidized rate. Unless things change all owners, potential buyers and their real estate and insurance advocates need to understand what to expect and move forward accordingly regarding flood insurance pricing. Both buyers and their agents

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Sarasota real estate flood insurance ratesIf you currently own a home or follow the Sarasota real estate market, and have seen large increases in flood insurance premiums as a direct result of the ever changing federal program, there may be hope to reduce these rates according to some experts.

Many homeowners are not aware that the flood map can be changed. Almost all federal officials realize there is a strict limit on their resources and funding, and these mapping decisions can be questioned.

According to the Federal Emergency Management Agency, homeowners need to be aware of these changes and what has caused them.

Currently homeowners in certain flood zones have seen large increases in their flood insurance rates due to the more than $24 billion deficit that FEMA is facing. This massive

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