Alice's Real Estate Blog

Home Sales in Manatee County, FL

2010-02-15T12:53:00.000-08:00

Hi Everybody,
Here is a quote from a newsletter I got today from Pete Minarich with REMN Mortgage.

"INFO THAT HITS US WHERE WE LIVE The National Association of Realtors last Thursday reported existing home sales UP 27.2% for the last three months of 2009 versus a year earlier. This amounted to a seasonally adjusted annual rate of 6 million homes. -- a 13.9% increase over the third quarter's annual rate of 5.29 million homes. Clearly, buyers are taking advantage of the low mortgage interest rates and the tax credit that was extended and expanded by Congress."

This is pretty good news!
Alice Ohme
Wagner Realty

Open Houses are Hot !!!

2010-01-31T16:04:00.000-08:00

Hi All,
I can't believe the number of people coming to Sunday open houses at homes for sale in the last couple of weeks! Last week I had a condo in the El Conquistador area open and had 12 parties, which I thought was a lot. Then today I had a villa in Terra Ceia Country Club open and gosh, I lost track, but I think it must have been well over 20 parties. I ran out of flyers, which hasn't happened to me in years.
Anyway, I'm so excited to see that people are finally looking (and hopefully buying). We really needed this in this marketplace in Manatee County, FL.
See you at my next open house next Sunday!
Alice Ohme
Wagner Realty

Manatee County Single-Family Market is Hot!

2010-01-26T12:41:00.001-08:00

Hi All,
I can finally say that our low to moderately priced single-family home market is really moving around here now. The Bradenton Herald from this morning said sales are up and prices are up a little. Actually, I'm seeing the increase in sales but not the increase in pricing yet. In fact, we are still having a terrible time with getting home sales to appraise for the new financing. In other words, buyers are willing to pay more for houses in this market than the market seems to think the homes are worth. It seems to me this is kind of what got us into trouble the first time around so I think it's good that the appraisers are being very careful about appraised values.
Condo sales continue to be slower and pricing continues to go down in this market.
There are some important changes coming down the pike on FHA mortgages, including a higher FHA insurance premium upfront and not as much being allowed for seller contribution (was 6%, now proposed to be only 3%). So, if you are planning on buying a home anytime soon with an FHA Mortgage, now would be the time!
More later ...
Alice Ohme
Wagner Realty

Boy Has it Been Cold in Florida!

2010-01-15T09:34:00.001-08:00

Wow! 10 days in a row it never got above 40 degrees in Manatee County, Florida. This was definitely a new record.
However, our local real estate market is getting busy, which is something we've been waiting for a long time to happen. People are actually looking and feeling confident about buying now. Prices are so low and interest rates continue to be very low. What better time to buy than now?
Short sales are still a hassle but we're wading through them the best we can. One just has to be really patient and be prepared on what to do if the answer from the mortgage company is not what was wanted.
A lot of short sales are being rejected by the lenders. You have to submit offers that are near market value or the lenders are just simply not going to approve them.
It can be a tough process.
More later...
Alice Ohme
Wagner Realty

Short Sales Continue to be a Real Nightmare!

2010-01-08T15:00:00.000-08:00

Hi Everybody,
Well, after waiting for 6 1/2 months on one short sale, we still don't have an answer and after waiting for 3 months on another, it got rejected this week. Oh how I love working for months for nothing!! The worst part isn't even the lost income, but telling the customers about it really hurts the most! I like to give good new, I really don't like giving bad news, but that sure has become a big part of being a Realtor!
I really would be so very happy if the lenders could streamline their short sale approval process. It is so unbelievably frustrating to sellers, buyers, and agents. I'll bet it's frustrating to them too! I don't see this happening any time soon. Does anybody have any info about short sale processing getting better? If so, please respond and let us know what is happening.
Thanks for reading.
Alice Ohme
Wagner Realty

Happy (Cold) New Year in Manatee County, FL

2010-01-03T13:36:00.000-08:00

Wow, can you believe the high in Manatee County, Florida, today was in the 40's! That is really unseasonably cold for us. And the worst part is this cold spell is going to continue for about another week. It probably will freeze in this area tonight and maybe a couple of other days this week as well. I'm sure there are many very disappointed tourists here wishing for an escape from the cold weather up north.

I sure hope this won't be an indication of the way the 2010 real estate market will be in the upcoming year!!!

Anyway, showings seem to be holding steady as we go into the new year. I've seen a number of new short sales come on the market in the last two days, and I know these are going to be a huge factor in our local real estate market for years to come. Right now people are concerned about if they can buy a short sale and get it closed in time to meet the deadline for the newly extended tax credits.
It's going to be tight in some cases.
Anyway, Happy New Year to all my real estate customers. I wish you many blessings in this new year and I hope you have a healthy and prosperous New Year and may God bless you and your family.
Alice Ohme

Happy New Year Manatee County Real Estate Customers!

2009-12-26T10:20:00.000-08:00

Happy New Year!
Can you believe it, another year has come and gone! It seems like 2009 has just gotten started and here we are already about to embark on yet another new year. The Real Estate market in Manatee County, FL continues to improve but still a big percentage of our business is short sales and foreclosures. Even though the lenders have promised to start streamlining the short sale process, it just hasn't happened. I have one that has been in process now for 6 MONTHS!!! Can you believe that? The buyer is about ready to find something else and the seller is pretty anxious. That lender really needs to get their act together. This is Bank of America and I have found them to be the absolutely worst!
It would seem to me like these lenders should want to get some money out of these properties! I just can't believe how they treat their customers. It's almost criminal.
Anyway, hopefully, I'll have some good news soon.
Later.
Alice Ohme
Wagner Realty

Happy Holidays to All my Customers!

2009-12-19T16:03:00.001-08:00

I just want to take this opportunity to thank all my loyal customers for their business during this last very difficult year in the real estate business in Manatee County, FL. May the holiday season bring you happiness and joy and many blessings.
Happy Holidays!
Alice Ohme
Wagner Realty

Happy Holidays! Short Sales, Short Sales, etc.

2009-12-12T13:45:00.001-08:00

Hi All,
I can hardly believe we are only two weeks away from Christmas. It seems like 2009 just got started and here we are already!
Real estate continues to be a challenge here in Manatee County, FL. It's a little busy with showings but everyone is looking at everything before they buy (if they do buy!). There are some good deals out there to be found, but unfortunately, most of them are short sales and foreclosures, which are definitely a challenge to get closed. It takes the patience of a saint to accomplish this, but this seems to be the way real estate now is so we'd all better get used to it!
I think 2010 is going to have the most short sales we've ever seen before, so let's get prepared for another year of this. I've heard some rumors that some of the larger lenders are getting more streamlined with regard to processing short sales. I heard that Bank of America is going to have a website that can be referenced to get updates on progress. Since they are just the very worst to deal with, this is good news if it actually happens. I'll believe it when I see it.

Well, all for now. Have fun shopping and be good as Santa is watching!
Alice Ohme

Lots of New Foreclosures on Market

2009-12-06T08:21:00.000-08:00

Just this week we have seen a whole ton of new foreclosures hit our local real estate market. In addition to this, there are more and more short sales. This tide doesn't seem to be going down at all. Actually, there are getting to be more of these distressed properties. I really can't wait for some return to normalization of our real estate market, sometime soon I hope!!!
Alice Ohme

Short Sales Still Hard to Deal With

2009-11-29T09:40:00.000-08:00

We've all been dealing with a lot of short sale offers. You'd think by now the lenders would have figured out how to streamline their short sale approval procedures. But, yet another example of this not happening has occurred to me this morning. The lenders seem to be just as slow and confused about this procedure as they have been for the last several years.
It really is asking a lot for a potential buyer to wait for 4-5 months to find out if the offer on the house they wish to buy is going to be accepted.
What many of these lenders don't realize is that prices have gone down in many instances in the areas where the short sale offer has been made. If they don't accept the current offer, the next time around they are going to be looking at a lower price. Buyers are getting a little distressed waiting on approval and wondering if they are paying too much for the house as they watch prices deteriorate in the area they are buying.
It just doesn't seem like this process is getting any better at all, especially with the larger lenders. The smaller lenders are doing much better on the short sale approval process.
Anyway, short sales are a big part of our business, especially in Florida, and if a Realtor chooses not to deal with them, it is hard to stay in business.
I just wish the lenders could get better at this.
More later.
Alice Ohme

Activity Continues to Be Good in Manatee County

2009-11-20T14:55:00.000-08:00

We are finally starting to get good condo activity in the Manatee County real estate marketplace. It is so good to see this as we really didn't have much of a condo season the last two years. Prices are way down and the properties that are priced low are the ones that are selling but it sure is better than nothing, like it was last year!
I think the extension of the tax credits will really help and continue to keep our business active for the next few months.
Now is definitely the time to buy!!

Homebuyer Tax Credit Extended and Expanded!

2009-11-13T07:32:00.000-08:00

This is great news for the entire real estate industry! The $8000 first time buyer tax credit has been extended. The definition of a first time homeowner is a person or couple who has not had an ownership interest in a home for the past 3 years. The measure will extend the first-time homebuyer tax credit until April 30, 2010. In addition, those who have signed a contract before May 1, 2010 will have 60 days to close on the home. This also increases the income limits to $125,000 on a single return and $225,000 on a joint return

Also, for the first time, now existing homeowners can take advantage of a tax credit, which is $6500. This can be used by homeowners who have used their existing home as their primary residence for 5 consecutive years of the 8 last years. The $6,500 tax credit will be eligible on purchases between December 1, 2009 and May 1, 2010 and will have 60 days to close on the home. The income limits are $125,000 on a single return and $225,000 on a joint return and have a $20,000 phase-out thereafter.

So, if you've been waiting to buy a new home, this should help. Get out there and start looking!!
Alice Ohme

Short Sales Still Rule our Marketplace

2009-11-04T09:02:00.000-08:00

The Manatee County, Florida, real estate marketplace is still largely driven by short sales and foreclosures. Many areas have only sales of these type of properties. It is increasingly difficult for getting properties to appraise, especially if they are regular arms length transaction and are not short sales or foreclosures. Many appraisers have only the short sale/foreclosed sales to deal with as comparables. We are still seeing prices go down in this area, although not as quickly as previously.
We are expecting to see many new foreclosures come onto the local market within the next few months.
It is, however, still a good time to buy, especially if the tax credit gets extended or expanded, which I hope happens.
They need to make this available to everyone, not just first time home buyers.
More later.
Alice Ohme

Real Estate Market Has Many Short Sales

2008-09-25T12:20:00.000-07:00

Hi All,
Well, our real estate market in Manatee County, Florida, is still slow, and so many of the listings are short sale listings. This can be very time consuming and frustrating for many sellers and buyers, especially if they have a time limitation involved in selling or buying. Especially with the large lenders, we are seeing it taking a long time to get an answer on short sale contracts. The time frame is somewhere between 6 weeks and 3 months. So, if you're going to do a short sale, you'd better have lots of patience and not need to move anytime soon if you're a buyer.

Prices continue to come down in our marketplace on single-family homes. Prices haven't come down so much on condos but number of sales has been very low.

I hope the government can get this rescue plan worked out soon, as I think think will definitely help our real estate market. It think buyers are just sitting back and waiting to see what happens here. I can't say I blame them. If I were buying, I think I'd do the same thing.

Well, all for now. Will keep you posted.
Check out my website at: www.aliceohme.com
You can search MLS for all the latest listings on my site.
Have a great day!
Alice Ohme, G.R.I., e-PRO
Realtor
Wagner Realty
Bradenton FL

Manatee County Market Continues to Improve

2008-04-24T19:48:00.001-07:00

Hi Everybody,
The Manatee County Real Estate market definitely is getting better. My whole office has had a really good month or two. A number of properties that have been on the market for a year or two have all of a sudden sold. Of course, prices have really gotten down there, as well. It will be interesting to see if this trend continues when all our snowbirds go home, which is happening right now. I think the condo market may slow a bit, but I see no decrease in the number of potential buyers out there for single-family homes. It is important to note, however, that buyers are really taking their time making a buying decision and looking at everything on the market in their price range and geographical location. Mortgages continue to be somewhat of a challenge, but if a buyer is well qualified, it really isn't a problem. Even the marginal buyers can get a mortgage, but should expect to pay a little higher interest rate and fees.
All in all, I think the market look good and I look for it to continue the upward trend.
I'll keep you posted.
I invite you to post here your real estate experiences.
Check out my website at http://www.aliceohme.com for slideshows and virtual tours on all my listings.
Alice Ohme

Manatee County Real Estate Still Better

2008-03-25T07:23:00.000-07:00

The news is getting even better. Our real estate market in Manatee County is getting really busy. We are having lots of showing activity and even condos are getting shown. We're busy!! Prices are still down, but I think they've pretty much bottomed out (which is really good). I'm optimistic. Now is the time to buy! Interest rates continue to be low, inventory is still high, it's time to get out there and buy!
Check out my listings and virtual tours at www.aliceohme.com.

Wagner Realty Red Tag Sale

2008-02-18T17:56:00.001-08:00

Hi Everyone,
Wagner Realty is running a repeat this coming weekend (Feb 23 and 24) of our Red Tag Sale Event. If the sellers of properties we have listed wish to participate, their listing will be offered for this weekend only at 10% off the list price. Some properties will be held open during the course of the weekend, and many others will just be advertised at the reduced price.
We last ran this program in October and sold a number of properties as a direct result of the promotion. Since activity is better now, we are expecting good response to this weekend promotion. A large advertising campaign has already started and will features details on the participating listings in this Saturday's Bradenton Herald Real Estate Section.
This is an excellent opportunity to get that home or condo you might have been wanting at a greatly reduced price. We also welcome participation from agents with any other company.
Please see the details section of my listings on my website at www.aliceohme.com for specific details on the participating listings. I look forward to seeing and hearing from you this coming weekend
I'll let you know how this program turns out.
Thanks,
Alice Ohme, Realtor, Wagner Realty

Manatee County Real Estate Market is Active!

2008-02-16T10:13:00.000-08:00

Hi Everyone. Well, the local real estate market is getting better still since my last post. I put together three contracts the last 10 days, one on a manufactured home, one on a condo, and one on a single-family home. So, our activity has been pretty much across the board. I've been busy! A lot of the activity, however, is still with the lower priced properties, but we are seeing increases in activity on more expensive homes, as well.I hope this is not just a seasonal thing and that this increase in activity will continue even after our tourist season ends about the end of April. With interest rates at historical low levels, I think it will continue. Isn't it hard to believe that a person can now get a 30-year fixed rate mortgage for somewhere in the 5.5 to 5.75% range? We are even starting to see investors coming back into the market (however very cautiously!). Folks, NOW is the time if you've been waiting to buy. Low Interest Rates, Huge Inventory and lots of selection now!Anyway, this is an entirely different market picture here in Manatee County than it was a year ago today. What a difference!I'll keep you posted on how this is going. Let me know your thoughts and experiences, as well. I'd love to have your post on my blog.Please go to my website at http://www.aliceohme.com/ for slideshows and virtual tours on all of my listings. I'm never too busy for YOUR business.Have a great day!Alice

Real Estate Activity is Picking Up!!

2008-01-25T15:19:00.000-08:00

Well, I can't hardly believe it, but it's finally happening. I am very busy showing property to prospective buyers. It seems like all of a sudden the buyers are coming out of the woodwork. Most aren't ready to make commitments yet and make an offer, but looking is certainly the first step. It's great to see this after over two years of not much activity. I'm even getting a lot of interest on condos. Interest rates are extremely low right now and it is the perfect time to buy. Inventories continue to be high and prices have come down to a very affordable level. I'm strongly urging everyone in Florida to vote on the upcoming amendment on the ballet on January 29th about Taxes. It's not a perfect solution, but it definitely is a step in the right direction. If this doesn't pass, we'll be stuck with these ridiculous taxes for at least another year. Please, everyone, get to the polls and vote YES on Amendment 1.
Thanks. I'll be in touch! Check my listings at http://www.aliceohme.com. I have slideshows and virtual tours for every property I have listed.
Alice

Happy New Year!

2007-12-27T08:54:00.000-08:00

Well, we made it through another Christmas! It has been pretty quiet with regard to real estate activity in Manatee County this last week (as can be expected, I suppose!). I'm very optimistic about good activity beginning after the New Year. I know of so many people who have told me that they are going to be buying early in 2008. I hope this materializes, as the prices are great out there for buyers and interest rates continue to be at historic lows and there is a lot of inventory to choose from.
There are certainly many out of town license plates to be seen on local highways in this area. One can always tell when the weather up north gets cold and bad as everyone starts arriving here.
Anyway, Happy New Year and I'll keep you posted as to how the market progresses.
Alice Ohme, Realtor, Wagner Realty
www.aliceohme.com

Activity on Local Manatee County Condos

2007-12-12T19:15:00.000-08:00

Well, finally, we're starting to see some showing activity on condos in the Manatee County, Florida, marketplace. I've had calls this week on condos that haven't received any activity for months!! I'm getting more and more optimistic about our market everyday. I think things are getting better, slowly but surely. Any improvement is greatly welcomed.
I'll keep you posted.
Alice Ohme

Improved Manatee County Real Estate Market

2007-11-27T07:55:00.000-08:00

In spite of all the negative press, we are seeing more people calling, and looking and buying. Mainly so far it is with single-family homes. We are starting to see a little more activity on condos, but it is not yet translating into sales. Prices still continue to edge down slightly. The number of foreclosures is definitely impacting prices. Some subdivisions have only foreclosure sales as comparables in the last few months.
All in all, it seems to be looking up.
Alice

Manatee County Real Estate Market

2007-11-07T08:18:00.000-08:00

Well, I was hoping by now that we would have some really good news about our local real estate market, but it still seems to be slow. However, there is some good news. In my personal business, every week that goes by seems to be getting a little better. I've been getting more calls and more showings on my listings. There certainly seems to be a lot of cars with out of state license plates showing up on our streets. That's always a good sign that the snow birds are starting to arrive and hence our real estate market should start picking up. I certainly hope that holds true for this year!!!
From what I'm seeing from within "the trenches" it seems like the lower priced single family homes are the ones getting the most activity now. The condo market hasn't started to improve yet, but that market is usually seasonal and hopefully we'll see improvement in the next few weeks.
The negative press about the subprime market hasn't helped our situation here as well as daily news articles about the increasing number of foreclosures in our marketplace. It will take a while for this to all work its way out of the system.
Anyway, that's all for now. I'll write again in a couple of days and let you all know what good news I have to report in our local Manatee County real estate market.

Welcome to Alice's Real Estate Blog

2007-11-05T12:44:00.000-08:00

I'm going to try to keep all my customers up to date on what is happening in the local real estate market through this forum. I hope you will take the time to read this periodically and make comments of your own. I'm looking forward to keeping in touch with you.