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The Secret to Pricing Your Home to Sell

Contrary to popular belief, when selling your home its value is determined by one thing and one thing only - what a qualified buyer is willing to pay for it. No more and no less. Sure, many sellers will argue that their home has an insurance replacement value, or an appraised value, or a tax assessed value, but unless your insurance agent, your banker, or your tax assessor is willing to write you a check for the home - guess what? None of that matters. A home without a buyer has no value in the market place. Sure it might have a value to you the seller, and it might have a value to your banker, and to your insurance agent, and to your appraiser. But none of these people are buyers.
So here is the secret to pricing your home to sell - It's not what you think the home is worth that matters, it's what a reasonable buyer will think your home is worth that will ultimately determine if your home will sell.
Now you maybe thinking - Hey wait, if I left it up to a buyer, they would pay me as little as possible for my home. True, they would. But in the real world every buyer knows that you, the seller, have no obligation to sell your home at any price. To purchase your home the buyer will have to make you an offer you can't or won't refuse. One that will motivate you to pack up your Ken and Barbie collection, hire a local mover, and wave good bye to a home full of memories.
But here-in lies the trap that many sellers fall into which is the mistaken idea that we can hold out for an inflated price and eventually the market will come to us. Wrong! Buyers are under no obligation to buy any particular home, and no amount of marketing, open houses, websites, or signage will motivate a buyer to purchase an overpriced home. Why? Because they can buy one of your neighbors homes for less! This reveals one of the most important considerations in pricing your home - Price VS Time.
Understanding Price VS Time
The age old dilemma that has faced buyers and sellers since the dawn of private property rights is a simple question: What is more important price or time? Believe it or not this conundrum underlies and controls every sellers decision to sell, and every buyers need to complete a purchase. For sellers this boils down to the need to sell within a set time frame or instead to hold out for the best possible price, and as you might guess, for buyers it's the need to buy within a set time frame or to purchase a home for the lowest possible price.
A seller who would like to sell for top dollar should be prepared to potentially wait longer for a buyer willing to pay a premium price. Like trying to sell ice during December, a seller might have to give the stuff away just to get rid of it, but if they wait long enough, say until mid-August when temperatures crest over 100 degrees suddenly that same ice can have real value. On the flip side, a seller who needs to sell quickly, and doesn't have time to wait, should expect to discount their price somewhat because of the limited time they have to expose their home to the market.

What's the difference? Timing!
Buyers are in the same boat. A buyer who has the luxury of shopping for a home over a long period of time can probably wait to find a bargain, while another buyer who must buy a home in the next few weeks will probably be willing to pay a premium. Again it boils down to price vs time. So you might ask yourself what is your highest priority - Selling quickly or selling for a higher price?
To be honest when I pose this question to my own clients they often smile coyly and then answer - I want both! The funny thing is that they aren't kidding! This sticky situation often reminds me of one of my first jobs after graduating high school, which was working graveyard at a local lumber mill. Like clock work every night, the foreman would come by to monitor my production. We called him Perry, which could have been his last name or his first name because he never clarified it. Over the roar of the machinery Perry would cup his hands together and yell "You need to put out more wood!" Finally after an especially tough day, I looked him back in the eye, and yelled back "Do you want quantity or quality?" Throwing his yellow hard hat down on the concrete floor and then kicking it for emphasis he snarled back "I want both!"
Like Perry, most of my clients want their cake with the icing generously slathered on top. Because of this, many homeowners will attempt to put the responsibility of getting both top dollar and fast sale on the back of their hired gun, the real estate agent. The result can be summed up in one word - frustration. Why? Because no matter how much a seller yells, screams, and kicks a real estate agent, they don't do miracles. This is why successful sellers understand that while a real estate agents job is to provide marketing, expert advice, and negotiating services, in the end they don't own the property. They don't make the final decisions on pricing. The seller does, and ultimately the seller's asking price will in large part determine how slowly or quickly the home will sell.
To frame this discussion in a different way, consider what you will do should you arrive luggage in hand at the end of your listing period and the home has not yet sold. At that point are you more likely to give it a little more time or adjust your price? I know - Neither, I'll just fire the agent! To be honest, this is exactly what many sellers' do, they fire their agent and reboot the marketing. Does it work? Sometimes it does, but often these sellers end up three months later in the same slow boat to nowhere. Successful sellers on the other hand take ownership of their pricing decisions by making a clear decision about which is more important to them, selling quickly or selling for top dollar.
Successful sellers have learned that to price their home accurately means they need to think like a buyer, they need to get inside a buyers skin and look at the world through a buyers eyes. For instance, imagine for a minute that you are moving to another area of the country, to a city that you are completely unfamiliar with. If you were faced with buying a home in strange city what would be your first step? If you're like most buyers you would probably start online by viewing listings at websites like www.realtor.com or www.yahoo.com/realestate to get a general feel for local home prices. Next you might narrow your search down to a specific community or neighborhood by comparing utility costs, school reports, and crime statistics with other online tools like www.homefair.com or www.neigborhoodscout.com. Feeling good about your findings you might then venture out into the real world to begin viewing homes in person.
As a typical internet empowered real estate buyer you will look at an average of nine homes over eight weeks with the assistance of a real estate professional. By the end of your journey, like many buyers, you become so knowledgeable about the market that by the last showing you are able to guess, with reasonable accuracy, each homes listing price before your agent can even tell you.
So what happened here? As a buyer you went from a blank slate, with no impression of the market to having the ability to predict listing prices. A big leap sure, but this description is exactly what most buyers' experience. But this is only the build up, the next step for buyers who have found their dream home is to review a Comparative Market Analysis.
A Comparative Market Analysis is a report that compares a specific home, often called the "subject home" with other homes in a specific neighborhood. This analysis is then used to provide an anticipated sales price or price range for the subject property. Although not formally called an appraisal, the report provides a similar function by giving home buyers and home sellers a clear understanding of the market data that might affect their opinion of value. To learn more about using a CMA to help price your home talk to your local REALTOR®.

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New Mortgage Benefits

Pay the Mortgage with Plastic

American Express Co. is announcing today that cardholders will be able to pay their mortgages using plastic and get credit-card rewards for doing so. American Home Mortgage Investment Corp. and IndyMac Bancorp Inc., two of the top 10 residential-mortgage originators, are the first lenders to sign up for the program. Participants will be charged a one-time fee of $395 paid to the mortgage lender to cover account management. Once enrolled, the cardholder will earn cash back, airline points or other types of rewards offered by their American Express card. A cardholder with a $2,500 monthly mortgage would amass 30,000 card points a year.

The Wall Street Journal, Lingling Wei (05/23/2007)

FLORIDA PROPERTY TAXES

Click on the link to see what is happening with our politicians in Tallahassee and what you can do to bring our Property taxes into line.

www.nomorepropertytax.com

GOOD PROPERTY PHOTOS

A picture is worth 1,000 words, especially when it comes to selling a home. As more buyers shop for properties online, high-quality photos are more important than ever. “Good photos will grab people’s attention and help you sell a home,” “Bad pictures will absolutely give you trouble, because you won’t have any calls on it and nobody will come to see it.”Whether you take the pictures or you hire an expert, here are some tips for making the home look its best on camera.

Insist on good photography equipment so the photos are sharp and colors aren’t washed out.
Get rid of clutter in the home so the focus can be on the property, not the furniture and personal items.
Don’t shoot at night. Natural daylight will make the home look brighter.
Use flowers; they’ll add color to the photos.
Wide-angle lens are good, unless they distort the view. Making an average living room look like a ballroom will only disappoint potential buyers when they see the real thing.

Vacant-Home Rate Sparks Economic Concerns

Amid many signs that the housing market is improving, there's one piece of data that's still causing concern among many economists: the Homeowner vacancy rate is 2.7 percent, higher than it has been in the four decades that the U.S. Census Bureau has measured it.

The vacancy rate is a measure of how many homes for sale in the country are empty.

Goldman Sachs economist Jan Hatzius concluded in a report last Monday that rising vacancies signal that the excess housing supply continues to grow – and that new construction has to decline further this year, even after a 13 percent decline in new home starts in 2006.

Meantime, J.P. Morgan economist Haseeb Ahmed said the overhang of vacant housing stock could erode existing home values as sellers cut prices to move their vacant properties.

Economists fear that many vacant homes are owned by speculators who are stuck with investment properties that they can't sell and who may be under increasing pressure to drop their prices.

"We are concerned that there could be downward pressure on prices for awhile," Ahmed says.

Source: The Wall Street Journal, Michael Corkery (02/05/2007)

OPEN HOUSE SUNDAY 1 to 4

BOTANICA ON PALMER RANCH

Stop by and view these four Sensational, Upscale Condos

7490 Botanica Parkway
This 2300 sq.ft Tropical Wisteria is the largest Condo. 3BR, 2 1/2 Baths, Den, 2 car Garage. This one has it all Priced $170,000 below the last sale at $529,500

7525 Botanica Parkway
Pocket sliders open onto a Picturesque long lake view. 3/2/2 available Now at $459,500

5266 Bouchard Circle
Across from the Clubhouse, 1800 sq.ft 3/2/2 former Model. Price slashed to $435,000

7465 Botanica Parkway
Second floor 1778 sq.ft 2BR/2Bath with Internet Alcove. Only $314,500 or $322,500 furnished

Rob and Linda Clark
Horizon Realty
941-586-0110
roblindaclark@comcast.net

Insurance Lobbyists predict doom and gloom

TALLAHASSEE, Fla. – Jan. 24, 2007 – As state lawmakers debated and cheered the property insurance savings they are bringing to their districts, insurance lobbyists sounded alarms Monday about the cost to their industry and ultimately to consumers.
Much of the grumbling centered on Citizens Property Insurance, which the Legislature agreed to expand by permitting the state-backed insurer to compete with private insurers to sell multiperil policies covering risks such as fire and theft. Selling those insurance lines will enable Citizens to lower its property insurance rates because multiperil policies are more lucrative.
Lower rates or not, expect to see private insurers fight Citizens’ expansion.
“I think we’re going to urge the traditional philosophy that Citizens ought to be the insurer of last resort,” State Farm lobbyist Mark Delegal said.
He described the change as “the biggest long-term threat to the private insurance market.” The playing field is unfair, he said, given Citizens’ advantages as a quasigovernmental entity such as its tax-exempt status and suppressed rates.
“We won’t leave our customers; they will potentially, hypothetically, make a decision to leave us,” Delegal said. “Long term, it could be devastating.”
State betting storm won’t hit
The Property Casualty Insurers Association of America ran full-page advertisements in the Sunday Miami Herald, Tallahassee Democrat and St. Petersburg Times criticizing the legislation. According to the ad, the state and its policyholders are assuming too much risk by expanding Citizens, “mortgaging our economic future on the hope that a major storm won’t strike anytime soon.”
In one bad season of two or three storms, assessments to cover the state’s expanded liabilities could exceed $2,500 for a single policyholder, said William Stander, assistant vice president of Property Casualty Insurers.
“I understand what they’ve done; they’re trying to deliver some short-term rate relief,” Stander said. “But they’re doing it on the backs of your kids and mine.”
The Legislature is betting on a massive storm not hitting in the near future, agreed Sen. Jim King, R-Jacksonville. If a 100-year storm were to hit, the state would have to tap into every available source of revenue, not only assessing policyholders but also probably raising taxes and looking to the federal government for help.
“Everybody knew that everybody was going to have to play with a little bit of pain,” King said. “Nobody was going to be singled out as a sacred cow. We’re of the opinion that we did just enough harm to everybody, and just enough good to everybody, that we can make a difference.”
Even in the House, which resisted allowing the Citizens expansion until the final hours of negotiations, lawmakers betrayed no second thoughts.
“The industry has market share and, like any business, they don’t want to give that up,” said Rep. Stan Mayfield, R-Vero Beach.
People in monopolized markets have no choices now, which undermines the free-market argument, he said. “In a real true sense, we are calling the industry’s bluff about the markets they say they could pull out of.”
With the state providing low-cost reinsurance to private insurers, covering their losses in the event of a catastrophic storm season, King predicted that the number of private insurers will gradually rise in Florida, not fall.
Reining in profit called ‘punitive’
Delegal called a provision to ban insurance companies from making excess profit a “punitive” slap at the industry that could jeopardize its ability to keep rates down and cover damage.
“You’ve got to make substantial profits in nonwind years so that you can pay extraordinary losses,” he said. “You want me to make $100 million in a year so I can pay $2 billion a year when the wind blows.”
It will be up to the Office of Insurance Regulation to determine what profit is excessive, said Rep. David Rivera, R-Miami. “It’s like when the Supreme Court ruled on pornography. The Supreme Court judge said, ‘I can’t define it, but I know it when I see it.’ I think OIR will know excessive profits when they see it.”
Insurance companies will also be re-evaluating their presence in Florida in light of the so-called cherry-picking provisions, requiring companies that sell auto insurance in Florida to also sell homeowners insurance here if they sell it elsewhere.
Asked if the industry will mount a counterattack to tear out the provision during a future session, Stander demurred, saying companies first will watch how the new rules are implemented.
Rep. Jack Seiler, D-Wilton Manors, a key negotiator of the bill, said the insurance lobby took more than one heavy knock this week. “But I’ll be honest with you, for once it’s nice to hear the industry complain and not the consumers.”

Think Your Place is Small

London Strides Above the World in Pricey Property

London may be the world’s most over-priced real estate market.

In trendy Knightsbridge, a 77-square-foot former storage room is being marketed as a studio apartment. The asking price – $335,000 or $4,340 a square foot.

The basement room has a tiny shower and a shallow closet, two hot plates and a sink. Adding electricity and heat to make the place habitable will cost an additional $59,000.

“It’s an investment,” says Andrew Scott, the real estate practitioner handling the sale

Ultra high-end properties in London are the priciest in the world, averaging $5,900 per square foot, making that basement studio look like a bargain.

— The Associated Press (01/23/07)

FLORIDA PROPERTY INSURANCE

Legislators roll back Citizens premiums, insure non-homestead properties
TALLAHASSEE, Fla. – Jan. 23, 2006 – Charged with the daunting task of reducing homeowners insurance premiums for millions of Florida property owners, the Florida Legislature last night passed a 167-page bill that could lower premiums between 5 percent and 40 percent and provide other insurance relief to millions of property owners. Gov. Charlie Crist is expected to sign the legislation today.
“Florida’s 160,000 Realtors® congratulate Governor Charlie Crist for his commitment to reducing property insurance costs, and to the Legislature for acting in a truly non-partisan manner to provide relief those who call Florida home,” says Nancy Riley, 2007 president of the Florida Association of Realtors (FAR). “This is a good first step in reenergizing the housing sector of our economy so buyers can take advantage of very attractive interest rates. But there’s more work to be done in order to create a vibrant and competitive insurance market. FAR’s leadership and public policy teams will continue to work with legislators throughout the 2007 legislative session to keep the American Dream of homeownership alive for all families.”
Here’s how legislators intend that to happen:
Lower rates
• Allow property owners to exclude windstorm coverage from their policies;
• Allow policyholders to exclude contents coverage;
• Remove the requirement that Citizens Property Insurance Corporation charge the highest premiums in the state;
• Repeal Citizens’ Jan. 1, 2007 rate increase and freeze rates at the Dec. 31, 2006 level.
• Eliminate the cap on deductibles so a homeowner can choose a deductible other than the standard 2 percent, 5 percent or 10 percent in current law. However, the policyholder must execute a written statement demonstrating understanding and intent, and must obtain approval by a mortgage or lien holder if the deductible is over 10 percent on a home valued under $500,000.
• Allow non-homestead properties to be eligible for Citizens coverage effective March 1, 2007;

• Authorize Citizens to write multi-peril policies in the windstorm pool, which will result in a direct decrease in premiums for at least 110,000 policy holders.
Protect policyholders
• Require all Florida-only insurance company subsidiaries to have a surplus of at least $50 million in liquid assets to help ensure that policyholders can receive payment when they need it;
• Require insurance companies to evaluate the hurricane-security of a structure rather than the date of construction when determining risk and establishing premiums. Age of the home may not be used as the sole reason for rejection of coverage;
• Require insurance companies to give at least 100 days written notice, or written notice by June 1, whichever is earlier, for any non-renewal, cancellation or termination of a homeowners policy that would be effective between June 1 and Nov. 30;
• Require insurance companies to expedite payment of claims following a storm. Insurance companies must pay or deny a property insurance claim within 90 days of notice of the claim with an exception for factors beyond the control of the insurer. Violation is subject to penalty under the Insurance Code, subjecting the insurance company to disciplinary actions against its license;
• Prohibit excess profits by property insurers.
Expand the market
• Require any insurance company that writes homeowners policies in other states and writes auto insurance in Florida to sell homeowners insurance in Florida effective Jan. 1, 2008;
• Allow Citizens to write statewide commercial insurance policies and to determine policy limits and premiums;
• Allow Citizens to sell traditional homeowners policies to 350,000 customers who currently buy only windstorm coverage from Citizens;
• Enable insurance companies to purchase additional backup insurance from the state’s Hurricane Catastrophe Fund at rates lower than on the private reinsurance market;
• Repeal a law that had called for insurers to pay extra into the fund to build up its reserves;
• Allow state regulators to waive a deposit requirement for foreign-based reinsurance companies. The idea is to lure more worldwide reinsurers to sell coverage to Florida companies, raising the possibility they'll be able to find additional cheaper reinsurance.

“Today, property owners in Florida are very happy,” says John Sebree, FAR’s vice president of public policy. “The goal of the one-week special session was to lower property insurance rates. It’s what the citizens were seeking and what the Governor promised.
“But this is just the beginning of meaningful reforms,” he adds. “Available and affordable property insurance remains a key issue for Florida Realtors, and FAR will press legislators for additional reforms during the 2007 legislative session that begins March 6.”
To read the bill in its entirety, visit http://snipurl.com/185co.

© 2007 FLORIDA ASSOCIATION OF REALTORS®

Want to Buy Your Own Country?

For Sale: Sealand, a sovereign nation with its own national anthem, stamps, and coins. And it'll only cost you $975 million to own it.

Sealand is a 5,920-square-foot artificial island in the North Sea created by Britain during World War II. It was abandoned after the war ended until retired Army Maj. Paddy Roy Bates took it over and declared it a principality in 1967.

Despite Britain’s best efforts, the courts upheld Bates’ claim of sovereignty and territorial waters. The 85-year-old Bates now lives in Spain. A Spanish real estate company is helping him sell Sealand, promoting it as a base for online gambling or offshore banking.

Source: The Associated Press (01/16/07)

INSURANCE COMPANY SUBSIDIARY ???

JACKSONVILLE, Fla. – Nov. 21, 2006 – As the 2006 hurricane season tiptoes into history, Floridians are relieved they haven’t had to trade their two-bedroom ranch for a FEMA double-wide.

But even though Mother Nature might have handed homeowners a break, they shouldn’t expect one from their property insurance carrier.

Premiums will continue to levitate thanks to rising reinsurance costs, inadequate competition, and projections of increased hurricane activity, industry insiders say.

Bad news for homeowners already reeling from sticker shock.

Homeowners rates in the First Coast, by one estimate, have more than doubled in the past three years.

“One season is probably not enough to drive the entire marketplace substantially downward,” said Justin Terry, a vice president at insurance broker Harden & Associates. “There are too many other factors driving pricing up and capacity down, including new risk modeling software, rating agency requirements, higher construction costs and continued development in coastal areas.” Ponte Vedra Beach-based insurance agent Chuck Bushong expects premiums to – at best – stabilize at the current high levels.

“If we get additional years of low storms, or no storms like we’ve had this year – pricing could go down,” he said. “But we need more than one year in a row for that to happen.” State Farm spokesman Justin Glover declined to speculate on the direction of insurance premiums next year, but didn’t raise any hopes.

“We look at [hurricanes] over many, many years,” Glover said. “One mild season does not mean that we are back into a cycle of no hurricanes. State Farm’s risk may not have changed.” For the insurance industry, which saw its bottom-line deluged by billions of dollars in claims in the past two years, the ‘06 season is being viewed as a catch-up year.

Hurricane-related losses in the past two years wiped out all profits that State Farm’s Florida subsidiary had earned since Hurricane Andrew struck in 1992, Glover said. After 2004, the subsidiary had to take out a $650 million loan from its Bloomington, Ill.-based parent to pay claims and stay afloat.

Insurers need to make money in the “years the wind doesn’t blow, to be able to pay in the years that it does,” said Jeff Grady, president of the Florida Association of Insurance Agents. “Losses are large when they come, and you gotta have a big bag of money to pay for it.” Dale Eberhardt, who paid more than $2,000 in insurance premiums this year, isn’t buying the industry’s sob story.

The Orange Park retiree’s annual insurance premium spiked 130 percent in the past year. Eberhardt said he hasn’t made a claim on his four-bedroom home in the past 10 years.

“If there’s no claims, why should insurance prices keep on increasing?” the 67-year-old asked. “Now, I’m paying more in [home] insurance than I am paying in [property] taxes.” Eberhardt said he understands insurers need to raise rates to help build back their decimated financial reserves.

But, “if there’s going to be increases, [they should be] reasonable,” he said. “One hundred thirty percent in one year, and then they are going to try to raise it again next year? That doesn’t make a whole lot of sense.” Market forces – not just natural forces – are fueling premium inflation.

In the past three years, at least 25 carriers have scaled back coverage in Northeast Florida, or said they would not write new policies, Bushong said. Such declines in capacity are ratcheting up the rates consumers pay.

What is needed, insurance executives say, is legislative changes to make it easier for insurers to tap into the Florida Hurricane Catastrophe Fund, also known as the CAT fund, a backup reinsurance account that kicks in when insurers lose too much money.

The threshold for CAT fund help is $5.2 billion in losses, and state Chief Financial Officer Tom Gallagher has suggested lowering that threshold to $3 billion.

The insurance industry waves off the 2006 hurricane season as an anomaly. Florida is in the middle of a period of increased hurricane activity – one that is expected to last 10 to 15 years, Bushong said.

El Nino, a periodic warming of Pacific Ocean temperatures, has been credited with providing Florida with a respite.

Typically occurring every two to seven years, an El Nino warming can cause a shift in the jet stream over North America, according to the University of Florida. This shift brings cooler, wetter weather to the Southeastern U.S. during fall and winter months and providing shearing winds that rip hurricanes apart before they hit the coastline.

The main driver of premiums – reinsurance – is also expected to remain high. Insurers buy reinsurance to help offset the cost of paying claims after a major storm or other catastrophe.

“The thing that’s driving the [insurance] rates in Florida is the reinsurance costs,” said Tony Loughman, chief executive officer at Jacksonville-based Southern Oak Insurance Co. “End of story.” Reinsurers claim they are not charging enough to justify the risk the market represents, said Dan Dieterle, a senior vice president at Harden & Associates.

Although reinsurers have “models that would substantiate their position, it’s all speculation,” he said, because of weather’s unpredictability.

State Farm’s Florida subsidiary saw its monthly reinsurance costs more than triple this year to $55 million, compared with the prior year.

Sunshine State Insurance Co. has seen its reinsurance costs more than double in the past year, CEO John Rogan said. The St. Augustine-based property insurer expects another 8 percent to 10 percent increase in its reinsurance costs next year.

Homeowners “should pray for another good year,” Rogan said. “If we get two good years, back-to-back, it may enable reinsurers to take another look at their prices.”

Copyright © 2006 The Florida Verdana,Arial-Union, Jacksonville, Urvaksh Karkaria. Distributed by McClatchy-Tribune Business News.

OPEN HOUSE SUNDAY 1 to 4

BOTANICA ON PALMER RANCH

7490 BOTANICA PARKWAY
The "Gem" of Botanica is available unfurnished at $599,500 or Designer furnished for $649,500. 2300 sq.ft with a 2 car garage, three bedrooms, den and 2 1/2 baths. This one has it all including a private elevator.

7525 Botanica Parkway
The most private lake/cul de sac location in Botanica. 1800 sq.ft. with a 2 car garage, two bedrooms and a den. Unique floor plan $499,900

5266 Bouchard Circle
Across from the Clubhouse. 1800 sq.ft with a 2 car garage & three bedrooms. Extensive tile. Make an offer $499,500

Come by and see these three wonderful Condos available for immediate occupancy at the Premiere Gated Mainland Condominium Community in Sarasota. Conveniently located at the corner of Honore and Palmer Ranch Parkway. Only 168 homes in 35 French Country inspired buildings. Clubhouse with a full exercise center, card/meeting room, catering kitchen and two heated pools.

The "LOCK & LEAVE" Lifestyle You Deserve.

Rob & Linda Clark
Horizon Realty
941-586-0110

OPEN HOUSE SUNDAY 1 to 4

This Jasmine at 7525 Botanica Parkway has the most picturesque long lake view at Botanica. On a Cul de sac with 1800 sqft 3BR 2Bath 2Car Garage. Foyer entry, extensive tile, plantation shutters, 8 ft doors, maple kitchen, Solar & UV tinted windows and doors. Can be available for immediate possession. Gated, Maintenance-Free community with 4000 sqft Clubhouse and 2 heated pools. $499,900

Conveniently located at the corner of Honore and Palmer Ranch Parkway.
Call us for gate code

Rob and Linda Clark
Horizon Realty
941-586-0110
roblindaclark@comcast.net

Reverse Mortgages Are Popular with Some Seniors

Reverse mortgages are increasingly popular among older home owners, who often have much of their net worth tied up in their homes.

Brad Stroh, co-founder and co-CEO of Bills.com offers this advice for anyone contemplating a reverse mortgage:

•How much equity is there in the property? If the home still is mortgaged, the home owner will have to use proceeds from the reverse mortgage to pay off the loan.

•Know your borrowing eligibility. The Federal Housing Authority regulates how much home owners can borrow with a reverse mortgage. The amount varies with the home’s value and the borrower’s age. Get a ballpark figure with a calculator such as AARP's.

•Determine the costs. Closing costs on reverse mortgages are more expensive than regular mortgages. The fees are subtracted from the proceeds.

•The U.S. Department of Housing and Urban Development provides information free of charge to potential reverse mortgage applicants who need help finding a lender or understanding if they qualify. “Counselors” who offer this service for a fee may be scammers.

REALTOR® Magazine Online

300 Million of Us

U.S. Population to Hit 300 Million on Tuesday

The population of the United States is expected to reach 300 million on Tuesday at 7:46 a.m. Eastern Time.

Population hit 200 million in 1967. Here’s a quick look at how the U.S. has changed in 39 years, in terms of new home prices, population density, and household growth.

From 1967 to 2006

U.S. Households went from 59 to 113 million

The Price of a new home rose from $24,600 to $290,600

The Home ownership rate was 63.6 and now is 68.9

People per square mile rose from 57 to 84


Source: Associated Press (10/14/2006)

OPEN HOUSE SUNDAY 1 to 3:30 X 3

BOTANICA ON PALMER RANCH
COME BY AND SAY HELLO AND SEE THREE WONDERFUL CONDOS AVAILABLE FOR IMMEDIATE OCCUPANCY AT THE PREMIERE CONDOMINIUM COMMUNITY ON THE PALMER RANCH. THE "LOCK & LEAVE" LIFESTYLE YOU DESERVE.

7490 BOTANICA PARKWAY
2300 SQFT 3 BEDROOMS, DEN, 2 1/2 BATHROOMS, AND A 2 CAR GARAGE. TROPICALLY ELEGANT WITH A PRIVATE ELEVATOR. A MUST SEE IF YOU WANT THE VERY BEST. $599,500

7525 BOTANICA PARKWAY
1800 SQFT 3 BEDEROOMS, 2 BATHROOMS AND A 2 CAR GARAGE THE MOST PICTURESQUE LAKE VIEW IN BOTANICA. YOU'LL LOVE THIS FLOOR PLAN. $520,000

5266 BOUCHARD CIRCLE
1800 SQFT 3 BEDROOMS, 2 BATHROOMS AND A TWO CAR GARAGE. STEPS TO THE FABULOUS BOTANICA CLUHOUSE FROM THIS FORMER MODEL. $499,500

CONVENIENTLY LOCATED AT THE SW CORNER OF HONORE AND PALMER RANCH PARKWAY. CLOSE TO THE NEW SARASOTA "RAILS TO TRAILS" PARK.

CONTACT US FOR ACCESS

CALL ROB and LINDA CLARK
HORIZON REALTY
941-586-0110
roblindaclark@comcast.net

FOR YOU BILLY JOEL FANS

Billy Joel, the iconic singer from Long Island, is selling his 14,000 square foot home for 37.5 million dollars. The home in Centre Island, a hamlet on Oyster Bay Harbor, also has a guest cottage and a pool house. Joel has another home in Sag Harbor, along with homes in Greenwich Village and Miami.


The Piano Man’s spread includes a 14,000-square-foot brick, gabled house with 1,550 feet of frontage on Oyster Bay Harbor. Among the amenities is a domed-roof indoor pool room where Joel had the pool filled in to create the perfect acoustical home for a grand piano. Also on the grounds are a guest cottage and a pool house.

Billy Joel is ‘movin’ out’ - Newsday.com.

FABULOUS ACTIVE ADULT COMMUNITY

RESORT STYLE LIVING

CONTACT ROB and LINDA CLARK OF HORIZON REALTY AT 941-586-0110 FOR A HOME BUYERS PACKAGE (or email roblindaclark@comcast.net)"

MAINTENANCE-FREE NEW HOMES, VILLAS and CLUB HOMES (2-4 BEDROOMS) IN A GATED COMMUNITY from the $290's to the $400's …AND ALL HAVE 2 CAR GARAGES.

ROB & LINDA CLARK
REALTORS YOU NEED TO KNOW...FOR THE LIFESTYLE YOU DESERVE

FULL-TIME ACTIVITIES DIRECTOR, WATER AEROBICS, TRIVIA NIGHT, BOCCE BALL, BRIDGE, POKER NIGHT, SOCIAL EVENTS, MEET YOUR NEIGHBOR DINNERS, BILLIARDS, TOTAL EXERCISE CENTER, PUTTING GREEN, INERNET CAFE, BIG SCREEN TV'S, LIBRARY, CRAFT ROOM.

LEARN MAJ JONG, LANGUAGES, COMPUTERS, CRAFTS

ROB & LINDA CLARK
HORIZON REALTY
941-586-0110
roblindaclark@comcast.net