Our New Blog

Absolutely you can!  We deal with many Canadian Buyers here in Southwest Florida.  There are no restrictions when purchasing and no extra fees are incurred because of your sale.

If you are purchasing an investment/income producing property, you will need to obtain a Tax ID number.  You will need this number should you eventually decide to sell the property, investment or not.  It would be advisable to speak with your accountant and or possibly an account here in Florida.

Financing is limited here for international buyers so you may want to look into your options at home before you book your trip down.  In our current market, cash is king for all buyers local or not.

We have helped many Canadians both investors and 2^nd home buyers purchase property in Venice and surrounding Cities and would be happy to discuss with you further what you need to know before you buy.

Call or email us today!

Janet Thomas, Broker

Venice Hometown Realty, LLC

212 Palermo Place

Venice, FL 34285

941-306-3059

Would you Like to Make up to 18% Return on Your Investment?

As I talked about in earlier blogs people are confused about exactly where to put their money right now. In one of my earlier graphs, you saw that real estate has proven to outperform other various investment options over the last 11 years. You also saw that the cost of home ownership and renting are about the same right now. The main difference is that rents typically increase annually around 3%.

We are successfully helping buyers purchase a pre-retirement home, and then utilize it as an investment property. It’s a great option for someone wanting to get in on the low prices and low financing but aren’t quite at the retirement point yet. It gives the buyer the flexibility to come down when the home isn’t rented but still benefit from rental income and, a home that’s being used is much better than one left to sit empty. While an annual rental generally produces more income, you wouldn’t have the benefit of use for yourself.

We also work with investors who are taking advantage of the low prices. They are buying mostly distressed properties, rehabbing them and quickly getting them back on the market for re-sale or rental. The rental demand is quite high and produces many tenants vying for the same property.

We offer guidance in choosing the home with the best rental potential. Because we talk with tenants daily, we know what they are looking for in a rental home and can help you align their needs with yours. Before you even start looking we recommend a consultation with one of our expert agents and our rental manager to get you started in the right direction.

There is good money to be made in this market! If you would like more information about how you can earn up to 18% return on your investment, stop in, call or email us. We would love to talk with you.

Janet Thomas, Broker

Venice Hometown Realty, LLC

212 Palermo Place

Venice, FL 34285

Phone: 941-306-3059 Email:sales@venicehometownrealty.com

These days many investors are scratching their heads wondering what exactly is the best investment.  The chart above shows that overall Real Estate is still one of the best investment options.  It was never meant to be a short term investment, like in the craziness of 2004-2005 where investors were literally flipping a home before they left the table for the first closing.  Lots of us are wishing that was just a bad nightmare, just like the stock market crash in 2000, but it isn't and we are still picking up the pieces.  Price wise, nationally, we are back to the pre-bubble prices of 2003.  The interest rates back then, nationally, were about 5.84 percent.  Today the rates are hovering around 4 percent.  So even though the price remains the same, people can purchase the same house at the same price and save $222.00 per month or more than $2600 per year.  That's a big savings over a 30 year period.

Rates are bound to start going up again, we just don't know exactly when.  Here's what will happen when they do,

As you can see a 1-2 percent rate increase can mean a few hundred dollars extra in the monthly payment and again multiply that out over 30 years and you have a much more expensive home.

If you are an investor looking to purchase a rental property.  Rentals are at a all time high demand due to the increasing number of people forced out of their homes because of foreclosure, lack of financing for less than perfect credit scores and countless other reasons.  Put your money where you can actually drive by and see it working for you.  In most cases you should be able to net a return of about 10% and eventually start to gain some appreciation value as well.  We have agents that are savvy with this market and will point you in the right direction.  We also have a rental program to put those properties to work. 

Give us a call or come by to discuss the many options available to you as a buyer right now!

Janet Thomas, Broker

Venice Hometown Realty, 212 Palermo Place, Venice FL 34285, 941-306-3059

A Florida Licensed Brokerage

Every Day Someone comes up to me to ask how the market is doing.

Well these are the current national numbers. Cecilia Chin,  senior direction of Moody's Analytics expects existing homes sales will reach 5.3 million annualized base this year which is a little above where it is now meaning we're going to have a little bit of a spurt from now to the end of the year. Next year, Cecilia said, sales should reach 6.5 million and housing starts, new construction, could hit one million.  As for our market here locally, 7723 homes have been sold, per our MLS, in Sarasota County since 1/1/2011.  That is 26 homes sold everyday for each day this year.  This doesn't incorporate private sales, outside of MLS.  This figure represents a 6% increase in the amount of homes sold in the county over last year. 

So if you are a buyer and believe in the buy low sell high motto, you should probably just go for it.  The interest rates are at all time lows, inventory is still good and it looks like financing options in the next few years are not going to be as lenient as what we have come to expect.  If you're afraid that your going to lose money long term, all you have to really ask yourself is if you plan to stay in the home more than 6 months because by the middle of next year houses are going to start appreciating again. At least that's what the leading 107 economists in this country think.

I hope this information is useful for those "on the fence" or just wondering what is going on in real estate these days.  It's not as bleak as you might think.  If we can answer any questions, don't hesitate to call or email us!

Janet Thomas

Venice Hometown Realty

Some Material Provided by KCM-October 2011

These days getting a mortgage is no easy feat.  It seems only the most extremely well qualified borrowers are actually finding success with them, at least in our part of the country.  Here are some helpful tips to keep in mind before you actually start the process.

1.)  Find out your Credit Score.

Good numbers are key here.  On an FHA loan with 3.5% downpayment you are required to have a score above 580.  FHA is one of the more readily available money sources and not all borrowers will qualify.  If your score is in the 500 - 579 range you will be looking at a minimum of 10% down with FHA Financing.  There are many other programs out there and you should see which one would fit your particular circumstances best.

2.)  Get your Documentation Ready.

You will need 2 years of tax returns, a few months of pay stubs and bank statements.  You will also need to list your assets and liabilities.  Compiling this in advance will save time and give you a more accurate dollar amount for your home search.

3.)  In most instances you will need to be employed at the same workplace for at least 2 years.

Don't make any hasty job changes if you are looking to purchase a new home.  Most lenders are looking for stability.

4.)  Don't make any large purchases before closing.

This is a big no no and can leave you homeless at the closing table when the bank does that last minute credit check.

These are just a few things to work on before you meet with your loan officer.  Being well prepared is key!

Janet Thomas, Broker

Venice Hometown Realty, LLC

You can't turn on the news these days without hearing about the foreclosure crisis.  If you were thinking of listing your home for sale you are probably more confused than ever before.

I will try to shed some light on the subject.  If you are a bank trying to liquidate your recent repos, this is bad news.  Your already bursting at the seams supply of homes is going to get larger, while you figure out if your foreclosures were done properly.  All that money sitting idle, not a good thing.

If you are a regular home owner with equity, now is the time to jump on the bandwagon.  This is a window of opportunity where your low priced competition is at a standstill.  Season is coming and for you this is good news!  But only if take action soon.  Eventually they will get this figured out and the foreclosures will come back onto the market.

It pays to work with a real estate professional than can guide you through these rough times. 

Janet Thomas, Broker

Venice Hometown Realty

Although Venice, Fl, had not had any sign of oil on it's pristine beaches it was wonderful to read in this mornings Herald-Tribune headlines "Gusher Appears Sealed for Now'. Mud pumped into the well, followed by cement, has been successful. 70% of the 4.9 million gallons of oil that leaked from the well has been burned, evaporated, skimmed, dissolved naturally or captured. That is very encouraging news. With our 150 mile shelf off our coast, the flow of the natural current in the Gulf and microbes that eat the oil, we can continue to enjoy our beautiful, turquoise beaches in Venice, FL.

Sales in Venice dropped for the first time in many months. Total units sold during July, 2009, was 119. This years figures dropped 8% to 106 units sold during July, 2010.

2009 2010

Median Price $150,000 $137,500

Average Price $191,263 $172,885

Total Volume $22,760,330 $16,596,926

Bargain prices are driving our market. Cash is still number one method of purchase at 51% but financed purchases are close behind due to exceptionally low interest rates.

Hooray! The Legacy Bike Trail has completed the final link with a bridge over Dona Bay. The 11 mile trail for bicyclists and walkers travels from McIntosh Road in Sarasota to the Venice Train Depot. The trail offers many scenic views of bay and skylines. During the fall of this year construction will begin on a 3.1 million overpass on 41 in Venice to connect bicyclists to Venice Island and the intra coastal and finish at Caspersan beach.

The weather has been hot and humid so everyone here is taking advantage of the beaches and pools and enjoying a wonderful summer. Hope to see you here.

Hello, hope everyone is having a great summer!  Just wanted to clear up any confusion some may have.  Venice, LA has oil.  Venice, FL does not.  My own brother almost canceled his vacation because he saw on tv that the entire West Coast of FL has been affected.  This is not true.  Our Gulf Waters and our Beaches are Oil Free!

There are happy vacationers here!  Come on down and see for yourself.  Our temperatures here are most likely lower than yours at home too.

If you want to keep an eye on our area, follow this link to the Venice Chamber of Commerce:

www.venicechamber.com

Happy summer travels to you all,

Janet Thomas