Sarasota's Median Sales Price for Single Family Homes reaches $500,000 (Bradenton: condo, landscaping)

[MOforthewin]

Originally Posted by loves2read

I had to call her about some bamboo in her back yard that was too tall and touching power lines
She said she had bought home intending to move with her significant other to retire down here
She is in her 60s she said but he died fairly close to buying the house—
Don’t know if it was CoVid or other issue and she just was up in air about what to do then

She has pool and yard service but has had a trash can sitting outside the garage for almost a month now and yard is all but dead from lack of rain and irrigation
Just a bad vibe on our street

I would talk to the county. Start fining her. That's BS.


Something sounds shady about all this.

[loves2read]

Originally Posted by MOforthewin

I would talk to the county. Start fining her. That's BS.


Something sounds shady about all this.

Plenty of homes in my neighborhood are seasonal
Some owned by Germans or Canadians were empty during all of CoVid restrictions but they had people checking on theirs
I wonder if her home owners knows she isn’t there

[MOforthewin]

Originally Posted by loves2read

Plenty of homes in my neighborhood are seasonal
Some owned by Germans or Canadians were empty during all of CoVid restrictions but they had people checking on theirs
I wonder if her home owners knows she isn’t there

That's understandable with the Canadians.

[loves2read]

Originally Posted by MOforthewin

That's understandable with the Canadians.

With many absent owners earlier
Now travel has picked up and restrictions are relaxed even in Europe

[Sunshine Rules]

Noticed today in the MLS that Taylor Morrison just reduced the prices of 6 spec homes in one of their south Manatee county communities in the range of 6.4 - 7.35%. This is after another small price reduction about 2 weeks ago.

For example, one listing started at $641,720 and is now priced at $598,910 after 39 days on the market.

Not seeing any significant moves by other area builders as yet, so no definite trend.


On the resale side, we are seeing more price reductions on listings where they definitely were over enthusiastic about the original list prices, with some of those hitting the 30 days (or more) active days on market mark.

The average days on market before going under contract is still low, averaging 4 days, but I am starting to notice an increase in the number of homes that have Days On Market (DOM) of 20 - 35. It will be interesting to see the actual sales prices of those homes when they close, did they make list price or possibly less?

[BeirksDentley]

Just wait, a lot of bankers do see the development of a downward movement.


I know that's hard to believe and digest for some.

[srq57]

Originally Posted by loves2read

How old is your condo and the roof?
Composite or tile?
What is the governing body…city or county

Palm Sola Trace, off 75th Street in Bradenton. Manatee county. Roofs are maybe 12 years old.

[loves2read]

yes—but composite asphalt shingle roofs can be at end of their chain at 12 years
Tile roofs are usually good for 20-25 yrs if they were installed and maintained properly

Maybe the insurance wont give full coverage because your condos need to have roofs replaced

[MOforthewin]

Originally Posted by loves2read

yes—but composite asphalt shingle roofs can be at end of their chain at 12 years
Tile roofs are usually good for 20-25 yrs if they were installed and maintained properly

Maybe the insurance wont give full coverage because your condos need to have roofs replaced

I live in a townhouse/Condo in St. Louis. The type where it's two houses connected to one, basically two houses.


Anyway, the roofs were having issues after about 13 years with leaks in some of them.


Ours had some issues too. Wasn't covered under insurance but we didn't have to pay much. The homeowners association covered nearly all the new roofs!!!

[loves2read]

Originally Posted by MOforthewin

I live in a townhouse/Condo in St. Louis. The type where it's two houses connected to one, basically two houses.


Anyway, the roofs were having issues after about 13 years with leaks in some of them.


Ours had some issues too. Wasn't covered under insurance but we didn't have to pay much. The homeowners association covered nearly all the new roofs!!!

that is how it works with a condo COA—you pay monthly dues and hopefully the Board does good job with the proceeds and pays for ins to cover replacing common property like roofs or maybe repaving parking lots and landscaping maintenance
Sometimes your have a major expense NOT anticipated and every owner is assessed their share of the cost—

Neighborhoods in my part of TX have HOAs—many of them were planted with pear trees by developers for landscaping common areas—pear trees are a pain—make a mess and often get disease and die in droves and need replacing—that can be an expense the HOA does not anticipate—
Some neighborhoods had to have an assessment to cover costs of removing and replacing their trees after big ice storm—not something cover by insurance

My son in law owns condo on Venice Island bought before they married and they lived there for years after their marriage—but it was only 1 bedroom so when they were having baby had to get house
He kept condo—prices were really low and he couldn’t have covered his mortgage
They had to have special assessment to have all the water lines replaced with PEX while they were living there—had to move to empty condo for week or so while their side of the floor was being done

He rents it out during the winter
Wish he would sell it since market is stronger but he keeps hoping someone will buy all three buildings to build new development—not likely IMO