Enjoy the benefits of Esplanade resort living in this 3 bedroom, 3 bath condo. With almost 2,400 square feet of living space, this is a rare opportunity to own a “non-golf-bundled” home in one of Lakewood Ranch’s most sought-after communities.
After a rapid rise in interest rates to start 2018, we have seen them start to stabilize. Average U.S. rates for 30-year fixed rate mortgages are currently at 4.42%. At the end of last month, they were sitting at 4.44%. While it is great to see upward momentum halt for the moment, the general forecast is for a steady continued rise over the rest of the year.
If you haven’t looked at the prices people are getting for rental properties in Sarasota, you should. The rents compared to the cost of ownership are very favorable for the owners of single family homes and condos. Further, as stock market volatility is making it look like downside risk is outweighing upside opportunity in stocks, investing in a local property can be highly appealing.
The latest mortgage delinquency statistics show that Hurricane Irma is continuing to disrupt local mortgage repayments this month, but in a slightly different way than last month. Short-term delinquency rates (30 days late) are lower than what we saw last month, but more serious delinquencies are still up. Although we have yet to see a foreclosure spike, it sure looks like it is coming.
There are plenty of articles full of useful tips for home buyers, especially for first-time home buyers. Accordingly, I am not going to repeat them. Instead, I am going to offer some additional tips that most articles don’t tell you.