All Blog Entries by Sandra Israelson 
There are currently 10 blog entries published by Sandra Israelson.
Florida Insurance
Sunday, February 28th, 2010 at 9:44am. 394 Views, 1 Comments.
The Herald Tribune had a terrific article this morning listing ratings of more than 50 companies that insure residential homes in Florida. The top 6 insurers without any major red flags are: ACA Home Insurance, American Strategic Insurance, Castle Key (formerly Allstate Floridian), Florida Farm Bureau Casualty, Nationwide Insurance Company of Florida, and Safeway Property Insurance. Six with red flags are: Homewise Preferred, Magnolia Insurance, Northern Capital Insurance, People's Trust, Sunshine State, and Southern Oak Insurance.
Having the proper insurance coverage is so important, especially here in Sarasota and the rest of Florida. But it's very difficult to know which insurers to put your faith in. Most of us compare companies based on what…
Sarasota in TOP 10 Places to Retire
Friday, February 26th, 2010 at 1:37pm. 369 Views, 0 Comments.
Once again, Sarasota has earned a spot in the top places to retire. This comes as no surprise to those of us who live here. Check out the full article.... http://finance.yahoo.com/focus-retirement/article/108918/the-top-10-places-to-retire?mod=fidelity-livingretirement
Extension for First Time Home-Buyer Credit Unlikely
Sunday, January 3rd, 2010 at 1:34pm. 1138 Views, 0 Comments.
The last time that lawmakers extended the first time home buyer tax credit, they made it abundantly clear that they would not extend it yet again. So what does this mean to those of you thinking of taking advantage of this credit?
For starters, you'll need to have a contract finalized for a purchase by midnight April 30, 2010. And secondly, you'll need to close on the purchase by June 30, 2010.
With interest rates still low and real estate prices equally low, now is the time to begin looking so as not to run out of time. It can easily take more than a month to find what you want and negotiate a purchase.
There are plenty of properties in Sarasota, Lakewood Ranch, and Bradenton that might meet your needs. Please use this website to search out…
Mortgage Rates hit record low ...
Friday, December 4th, 2009 at 11:38am. 409 Views, 0 Comments.
The average interest rate for 30 year mortgages hit a new record low since Freddie Mac began tracking interest rates in 1971 !! The interest rate for a 30 year fixed rate mortgage dropped to 4.71%. So what does this mean in terms of a consumers buying power? The 4.71% gives a factor of $5.19 per every $1000 borrowed. This means that for a $100,000 loan, your mortgage payments would be just $519.
Of course, you need to remember that the banks will tack on a PMI fee (Private Mortgage Insurance) if you borrow more than 80% of the value of the property. And they will also add in escrow payments for your insurance and property taxes. But the bottom line is that these are great rates making it a terrific time to buy real estate. …
FHA Considering tightening Lending Policy
Thursday, December 3rd, 2009 at 10:54am. 432 Views, 0 Comments.
The FHA announced today that they are considering tightening their lending policies. Under current policy, borrowers can purchase a property with only 3.5% down payment as long as they have a credit score of 620 or higher. This has enabled many first time home buyers to purchase homes. Stay tuned for more information on this topic in weeks to come. I will post any changes as they are announced.
Black Friday Weekend was defined by Bargain Hunters
Monday, November 30th, 2009 at 1:39pm. 401 Views, 0 Comments.
I wasn't surprised at all at the news reports that shopping over the weekend was defined by bargain hunters. The report said that more people were shopping, but that sales were fairly flat. The real estate market is showing similar signs. There are more people out shopping for homes than there were just six months ago. But they are all looking for bargains.
The lower end properties are being snapped up fairly quickly - especially bank owned properties. But even in the higher priced segments, buyers want bargains. Sometimes short sales are perceived as bargains, but not always. Bank owned, or foreclosed properties, are almost always viewed as bargains. But most of these properties need quite a bit of work to bring them back to move-in…
New Tax Credit for Longtime Homeowners
Sunday, November 29th, 2009 at 10:22am. 400 Views, 0 Comments.
Congress has extended the tax credit for home buyers to current homeowners who have owned and lived in their residences for at least 5 years. This credit is for $6,500 rather than the $8,000 that first time home buyers qualify for. All the other provisions of the first time homebuyer tax credit apply.
Tax Credit for First Time Homebuyers Extended
Sunday, November 29th, 2009 at 10:17am. 500 Views, 0 Comments.
Congress has extended the tax credit for first time homebuyers.
How much is the credit?
This credit is for the higher of $8,000 or 10% of the purchase price of the home. So if you purchase a home for, say, $70,000, then your credit will be for only $7,000. And remember that a tax credit is a return of the whole amount. It's not like a deduction, where it benefits you by only 15% or so. Also, you may file an amended tax return and get your refund immediately - no need to wait until the following year when you submit your regular tax return.
Who qualifies for this tax credit?
1) A first time homebuyer is defined as someone who has not owned a home within the last 3 years. So even if you owned a home back in 2006 or earlier, you qualify for…
Sarasota named one of America's 10 Best Undervalued Places to Live
Saturday, August 1st, 2009 at 9:57am. 429 Views, 0 Comments.
The U.S. News & World Report just published an article on America's 10 Best Undervalued Places to Live, and Sarasota is listed as Number 5, behind only Las Vegas, Houston, Naples (FL), and Oklahoma City. Oklahoma City? Yikes!
The article points out Sarasota's wonderful arts and culture as well as the terrific boating and our currently depressed housing prices. It's time to buy!
Read Entire Article ...
Have we reached the bottom?
Thursday, July 9th, 2009 at 2:46pm. 419 Views, 0 Comments.
I hear this question frequently. Many buyers want to wait to purchase until we reach the bottom. The problem with this strategy is that one can never know when we've reached the bottom until we are past the bottom. So by definition, if you are waiting for the bottom to appear, you will surely miss it. A better strategy is to purchase when you find a home that you love at a price that you are comfortable with. And as always, real estate should be viewed as a long term strategy. If you see yourself having to sell in less than 3 or 4 years, you probably are better off not purchasing at all.