Monthly Archives: March 2017
Monthly Archives: March 2017
We are so very blessed to live in the Sarasota area with Farmer’s Markets year round. Please enjoy our short video.
Farmer’s Markets are so much more than just places to buy, fruits, vegetables and flowers. They provide a wonderful gathering place, for diverse groups of neighbors to meet and mingle, to share news, stories and conversations
Who can resist the colorful sight of booths piled high with colorful, locally grown produce, the beautiful flowers, the smell of fresh brewed coffee and artisan bread?
Our local Farmer’s Markets offer us a chance to try products we have not tried before while supporting our area small farms and artisans. It helps to boost the local economy as well.
Farmer’s Markets are by nature cooperative and communal events. They provide local small business people an opportunity to interact with each other and share ideas while presenting their wares to the community.
For us, as consumers, Farmer’s Markets provide a direct connection to the people that produce the goods and services that we consume. This gives us immediate access to the producers and therefore more information about what we purchase.
We truly enjoy visiting the different markets in our area. Each seems to have its own personality.
Historic Dearborn Street, Oct. – May, Thur. 9am-2pm
This one is a real surprise. It is huge. It is an outdoor market set on one acre located among the pines in historic downtown. Englewood Farmer’s Market offers everything you can imagine including farm-fresh produce, flowers, herbs, honey and citrus. This is the second largest farmers market in the area with over 50 vendors.
Phillippi Estate Park, 5500 S. Tamiami Trail, Oct. – May, Wed. 9am-2pm
Here is a mid-week fix for your Farmer’s Market callings. The Phillippi Farmhouse Market is situated on the grounds of the gorgeous Phillippi Estate Park. There are over 40 vendors offering local, fresh produce and plants as well as prepared foods.
Main Street & Lemon Avenue, Year Round, Sat. 7am-1pm
This is the granddaddy of them all and the hip place to be on Saturday morning. It was established in 1979 and is located smack-dab in the heart of downtown Sarasota. Bring the family and the dog and go downtown to enjoy the sights, sounds and smells. The Sarasota Farmers Market includes over 70 vendors and it is really big. Don’t miss this one with all of the products and services of local artisans, businesses and farmers. We love that this one is also open year round.
5124 Ocean Blvd, Year Round, Sun. 8am-12pm (1pm from Oct. – May)
The Siesta Key Farmers Market starts a day later than most of its outdoor farmer’s market friends but still provides a beautiful bounty just the same! This laid back, outdoor offering brings an abundance of choices together with music and entertainment. It is one of the smaller markets, however it is open year round. It makes for a lovely Sunday morning scene in the heart of Siesta Village near world famous Siesta Beach.
Nokomis & Tampa Avenue, Year Round, Sat. 8am-12pm
The Venice Farmer’s Market probably has everything you are looking for and we love that it is open year round. It is not huge – but a good size. It is a beautiful setting, with palm tree lined streets, near the shops and the beach. If you’re looking for goods from local farmers, fishermen, craftsmen, bakers and artisans, look no further than Historic Downtown Venice for the Venice Farmer’s Market. It is a true outdoor market paradise.
Our goal is to be the best that we can be, to be joyful and to make a difference. We are personally committed to delivering High Touch Services combined with High Tech Systems to focus on your desires and needs. It is our pleasure to provide you with the information you need and to help you sort the options so you can make informed decisions about the best options for you.
Because we have decades of experience as full-time professional real estate consultants, you can count on a high level of help and clarity from us. We truly love what we do, helping our family of friends and clients build wealth while they enjoy their lifestyles with smart real estate decisions.
We help our family of clients define their values, create a plan, and map out a strategy to achieve their goals. We strive to provide 5 star service while having fun along the way. Give us a call now at 941-321-3916 so we can help you get from where you are to where you want to be.
Did you know that you can pay your Sarasota county property taxes on a quarterly basis instead of having to pay all at one time?
In order to participate for this year, you must apply by April 30th. Click here to find the Installment Application form. In June, the Sarasota county tax collector will mail your first installment bill to you, with instructions. The great thing is that once you apply you do not need to reapply each year.
Once you have elected to participate by paying the first payment however, you are required to continue participation for the tax year.
The real estate tax bill is a combined notice of ad valorem taxes and non-ad valorem assessments.
Ad valorem taxes are paid in arrears (at the end of the year) and are based on the calendar year from January 1 – December 31. I like to describe ad valorem as “based on value”. So if your house is bigger, or your land is bigger, or your view is better, you pay more “based on value”.
Non-ad valorem assessments are not based on value but a unit of measure determined by the levying authority. The assessment periods vary and may not be based on the calendar year. Examples of non-ad valorem assessments are stormwater utility, fire and rescue, and solid waste collections. So all homes on the street would pay the same, regardless of size or amenities.
If you do not pay quarterly, taxes are due and payable on November 1st with discounts for early payment.
In cases where the property owner pays through an escrow account, the mortgage company requests and is sent the tax bill and the owner receives a copy of the notice. The mortgage company is then responsible to pay the taxes on time.
The following discounts apply for early payment of your Sarasota county real estate taxes:
The property appraiser assesses all property at just value each year on January 1. When you acquire new real property, the assessed value of the property “resets” to equal the just (market) value.
If the new property owner has applied for and has been approved to receive the homestead exemption, the Save Our Homes cap is placed on the assessed value of the property the year after the property received the homestead exemption. This means that if the just value of the property increases, your next year assessed value cannot increase more than 3% or the Consumer Price Index (CPI), whichever is less. For 2017, the CPI is 2.1%.
If the property does not benefit from a homestead exemption, the assessed value increase is limited to 10% each year.
So be sure to take advantage of the opportunity to pay your taxes quarterly and also take advantage of the homestead exemption with the Save Our Homes Cap.
Let us know how we can help with any of your real estate needs.
Sarasota Real Estate Market Trends
The new statistics have been released for February 2017.
The number of homes sold year over year went up slightly
829 homes sold in February 2017 versus 808 homes sold in February 2016
The Sold volume increased slightly as well
The February volume for 2017 was $286,524,900 which is up 1.1% over February 2016
The Average Sales Price decreased a little
The February 2017 average sales price was $345,627 which is down 1.5% from February 2016
The Average Days on Market increased from last year
February 2017 average days on market was 75 compared to 68 in February 2016 – a 10% increase
The Number of Active Listings increased from last year
The number of active listings in February 2017 was 5,157 which is 19% above February 2016
Since over 96% of Buyers begin their home search online, it is more critical than ever to align your self with professionals who
are committed to a strategic, individually tailored online campaign to get your home sold.
Get more information on what these numbers mean to you. Just get in touch with us – we are here to help
Wealth is within reach for many people; however, according to a recent study, 63 percent of Americans said it’s not likely they’ll become rich.1 While younger people are more likely to say they’ll achieve wealth one day, only 34 percent of people aged 30 to 49 and 21 percent of people aged 50 or older say the same. There is no secret to becoming rich: it takes time, sacrifice and good financial sense. Here are a few ways to build your household’s wealth.
Let Compound Interest Work for You
Compound interest is your interest earning interest. While the concept may work against you when you take out a loan to buy a car or use your credit card, it works in your favor when you’re saving money. For example, if your savings is growing at a rate of four percent, your investment will double in eight years and quadruple in 16 years. Your money will grow exponentially the longer you save: the more money you’ve saved, the more your money will grow.
Tap into Your Home Appreciation
Experts expect home prices to appreciate 3.24 percent and grow by 21.4 percent cumulatively.2 If a homeowner purchases a home this year for $250,000, they could earn more than $40,000 in equity over the next five years. Although the home value of the average American family’s home is $165,000, home values vary by market.3 If you’re curious about the value of your home, give us a call!
Build Equity in Your Home
One of the most compelling reasons to own a home is it allows you to build wealth over time. According to one study, the average homeowner has a net worth of $200,000, which is 31 to 46 times the net worth of the average renter.4 Saving for a down payment, especially if you plan to put down more than 20 percent, helps you adopt good financial habits. The more you put down when you buy, the higher your share of equity when you close. Although for the first five to seven years, the majority of your payment will go toward interest, over time more money will be applied to the principal. There are many tools online that calculate your current and future equity in your home, including this one here.
Build equity sooner by choosing a shorter amortization term. While your payment may be higher, you’ll likely qualify for a lower interest rate and will pay less interest over the life of the loan.
Build Equity Faster in Your Home
|Mortgage Term||30 Years||15 Years|
|Months to pay||360||180|
|Annual percentage rate||4.0%||3.0%|
Source: Federal Reserve Bank of Dallas, Building Wealth: A Beginner’s Guide to Securing Your Financial Future
Pay Down Your Mortgage…or Not
Many homeowners grapple with whether or not to pay down their mortgage. On one hand, if you pay it down, or pay it off early, you’ll save money on interest, which you can use to make other investments. On the other hand, if your goal is to be debt free, it’s better to pay off your higher-interest debt, such as credit card debt, first before paying down your mortgage debt. Additionally, if you’re saving for retirement, putting extra cash toward your retirement accounts will help you build a nice nest egg to enjoy later on.
If you decide to pay off your mortgage sooner, here are a few ways to do so:
Your financial advisor can help you decide if paying off or paying down your mortgage is right for your goals.
Purchase Investment Property
Investment properties provide passive income to your growing financial portfolio. More than 25 percent of Americans say real estate is the best way to invest money you may not need for the next 10 years.5 While many people flip houses to make money—that is, they buy a home at a low price, fix it up and sell it quickly—others purchase multifamily properties to create monthly cash flow to save or to reinvest in other properties.
The longer you own a property, the better investment it becomes as you’ll continue to build equity. While rental costs rise with inflation, your mortgage will remain the same. The best part? Once you pay off the mortgage, your cash flow will increase. Remember to create a budget for maintenance each month, between 10 to 20 percent of the rent you receive, or more if the home is older. This will help you save more money in the long run and allow you to prepare for unexpected repairs.
There are tax benefits to owning investment property as well. You may be able to claim deductions for depreciation, as long as it fits within the guidelines; repairs, travel expenses, interest and more. If you’re thinking of purchasing investment property, talk to your tax professional to get the details.
Achieve More Wealth by Creating Financial Goals
Setting a goal will help you achieve your desired level of wealth. Once you achieve one goal, reassess and set the bar higher.
|Total Income||= $|
|Daily Expenses||– $|
|Monthly Bills||– $|
|Total Available for Investment||=|
To increase the amount you can invest, make adjustments to your daily spending and monthly bills, if possible. Look for opportunities to save money and transfer that savings into your accounts.
It’s never too late to begin building your family’s wealth. Whether you’re interested in buying a first home, upgrading to a larger home or are thinking of renovating, we have you covered. Give us a call and we’ll answer all of your real estate questions and offer suggestions to help you increase the value of your home.
2. Pulsenomics, Home Price Expectation Survey Q4 2016
3. Statistic Brain, August 1, 2016
4. National Association of REALTORS, Economists’ Outlook, September 8, 2014
5. The Motley Fool, July 30, 2016