I'm hearing that people are having 2nd thoughts about being in Florida, and want to sell their Sarasota, Venice, or Lakewood Ranch home. What?
I know. It seems like every Realtor Facebook or Instagram post promotes Florida as a "dream" and "paradise". Florida, especially Lakewood Ranch, has been a well-promoted destination for those looking for better weather, lower taxes, and excellent schools, for years. But, do all good things come to an end? If you want to live in Florida, it's not getting cheaper. No doubt you've heard about rapidly rising home prices. There's still a low inventory of homes for sale here, and there's still high demand, but that may not last forever. The Sarasota and Lakewood Ranch real estate markets are already showing signs of transitioning to a buyer's market.
Add to that a string of storms, increasing homeowner's insurance rates, higher HOA and condo fees, more traffic, crowded schools, and we could have the formula for a possible exodus out of the state. On top of all this, there's the threat of a water crisis, with Sarasota and Manatee Counties experiencing their driest year EVER in 2023. Are there enough home buyers moving to Florida who can qualify for a mortgage for a newer $750,000 home (or more), or can get equity out of their current home up north? If you are having 2nd thoughts and want to sell your Lakewood Ranch Florida home, I won't judge you. The best time to sell your home and get the most equity might be right now. Give me a call to get answers to your questions 941-993-6853.