E-Newsletter October 2018
In This Issue
Welcome to our e-newsletter "The Real Estate Corner." This newsletter is sent out the first week of every month. We wanted to provide a newsletter that provides current information on the real estate market, economy, tax tips, and more! In addition, there are some fun things like golf tips, and recipes for your pleasure. We hope you find these to be useful. If you wish not to receive this newsletter in the future, you can unsubscribe at the bottom. Enjoy!

 
What Is The Difference Between "Average Home Price" vs. "Median Home Price"

The average sale price is calculated by adding all the sale prices for homes sold in a specific area within a specified time frame and dividing that total by the number of properties sold. For instance, if ten properties sold in a city in the last thirty days, the average home price would be calculated by adding the sale prices for all ten properties and dividing that figure by ten.

The challenge with the average sale price, is that if one or more properties were sold at an extraordinarily high or low price, the average is skewed higher or lower as a result. In this case, the average becomes a somewhat unreliable metric.
The median sale price, is the sale price in the middle of the data set when you arrange all the sale prices from low to high. The median sale price, then, represents the figure at which half of the properties in the area sell at a higher price and other half at a lower price. The U.S. Census Bureau and Federal Housing Finance Administration uses these and other figures to create the House Price Index.
 
Sarasota and Manatee Real Estate Total Sales Climb In August

Both Sarasota and Manatee counties saw an uptick in sales and home values in the month of August. There was a total combined 1898  closed sales for the month of August. This is a 4.3% increase year- over- year. The  Sarasota condo market had a very strong month with an increase over 10.0%, whjle Manatee soared just shy of 27.0% year- over -year!  As for single-family homes, Sarasota sales decreased by 1.2 % and Manatee sales increased by 0.2 %.

 "Homes went under contract at a faster rate in August and prices continue to go up," said Greg Owens, 2018 President of the REALTOR® Association of Sarasota and Manatee. "We're still feeling the impact of low inventory levels."
 
Median sales prices also continue to gain year-over-year. Sarasota single-family homes increased just under 10.0%, while Manatee increased by 3.0 %. Condo prices in Sarasota increased over 9.0% to $232,950 and Manatee increased by just under 4.0% to $190,000. Realtor.com announced Sarasota, Florida as #1 of out the top 20 U.S. cities that has had the highest sales increases in the luxury market. ($1 million +)

The condo market continues to stay strong with new listings hitting the market. In August, Sarasota condo new listings increased over 11.0 % and Manatee condo new listings increased over 8.0%. Single-family home new listings increased by 4.5 % in Manatee County, while Sarasota single-family home new listings only increased by 0.3 %. Certainly, the expansion of new high- rise condos being erected in downtown have had a huge impact on this increase.

Based on a low supply of resale home inventories, (3.9 months)  Sarasota and Manatee counties still favors the "seller." Condos in Manatee and Sarasota County are currently at a four month's supply. It becomes more of a "buyer's" market when there is a six month supply or better.

Please understand the value of a property and location will deviate from the previous figures provided. These percentages are based on the overall market. If you would like to know specific market trends and pricing in your community, please contact me and I will run specific numbers that reflect your home and community.


River Strand Community- September Updates

In the month of September, 12 properties were sold in River Strand community ranging from $167,000- $475,000. Currently there are a total of 12 properties available including single family homes, coach homes, villas, and condominiums available to purchase from $164,900 to $889,000 .

If you reside in the River Strand community, be on the lookout in your email box for my monthly blog, which will provide further details of our beautiful real estate community. It will include market trends, local vendors, and much more!
If you, or you know someone who is looking to buy, sell, or invest into real estate in the near future, please contact us at Keller Williams On The Water. Michelle and I appreciate the opportunity to assist you with all your real estate needs!




Notes: All index returns (except S&P 500) exclude reinvested dividends, and the 5-year and 10-year returns are annualized. The total returns for the S&P 500 assume reinvestment of dividends on the last day of the month. This may account for differences between the index returns published on  Morningstar.com  and the index returns published elsewhere. International performance is represented by the MSCI EAFE Index. Past performance is no guarantee of future results. Indices are unmanaged and cannot be invested into directly .


"Happiness is not in the mere possession of money;
it lies in the joy of achievement, in the thrill of creative effort."
 
- 
Franklin D. Roosevelt

Tomato Panzanella
Serves 6

Ingredients:  
  • ½ loaf sourdough bread, preferably stale (about 1 pound) 
  • 2 large cloves garlic
  • 6 anchovy fillets
  • 3 cups basil
  • ½ cup olive oil, plus more for serving
  • 2 tablespoons sherry vinegar
  • Kosher salt
  • Pepper
  • 2 pounds heirloom tomatoes (in various colors and sizes)
  • 4 tablespoons unsalted butter
 
Directions:  
  1. Preheat oven to 400°F.
  2. Remove crust from bread and tear bread into large pieces.
  3. Put garlic, anchovies, 1½ cups basil, and ¼ cup olive oil in food processor; finely chop.
  4. Add vinegar and ¼ teaspoon salt; press pulse to create a thick dressing.
  5. Slice tomatoes into wedges and chunks. Mix lightly with dressing. Let set for 30 minutes at room temperature.
  6. At the same time, melt butter with the remaining ¼ cup oil in a small saucepan.
  7. Gently shake bread and butter mixture together to coat.
  8. Arrange in single layers on a baking sheet for roasting.
  9. Turn the bread regularly until it is light brown, crispy, and slightly chewy on the inside, 15-20 minutes.
  10. Gently add and mix in croutons with tomatoes. Carefully incorporate the rest of the basil into the mix by tearing leaves into smaller pieces.
  11. Drizzle with additional oil and add fresh cracked pepper. 
 
Recipe adapted from Good Housekeeping [19]
   

You Have More Time to Challenge IRS Levy *

New tax laws enacted in December 2017 extend the time allowed to file an administrative claim or sue for wrongful levy or seizure. The new limit is two years.

Here are the facts about levies and the time extension:
  • The IRS can seize and sell property to pay a tax debt. "Property" is defined as wages, money in your bank account, vehicles, and real estate.
  • The timeline applies to property the IRS has already sold.
  • If you make an administrative claim against the IRS within the two years, the time period is extended for either one of two periods (whichever is shorter):
  • 12 months from the date of the claim filing.
  • Six months from the date the IRS disallowed the claim. 
  • The rule applies to tax levies made before, on, or after December 22, 2017, as long as the previous nine-month period (prior to the levy) hasn't yet expired.
  • If you receive a "Final Notice of Intent to Levy and Notice of Your Right to A Hearing," contact the IRS immediately. This may allow you to make arrangements to pay the tax debt before the IRS proceeds with a property levy.
Other details may apply, and you can find more information on the IRS website.

* This information is not intended to be a substitute for specific individualized tax advice. We suggest you discuss your specific tax issues with a qualified tax advisor .


Tip adapted from IRS.gov [20]
How to Fix the Biggest Putting Mistake

First of all, stop listening to the advice of the friends or golf experts who tell you to put topspin on your ball to increase accuracy. It doesn't work.

Here's how to make the ball plop into the hole as planned, says professional golfer Dave Stockton.
 
Concentrate on keeping the putterhead low through impact. The putterhead will naturally rise anyway. So, focusing on a low strike will produce a solid impact on the ball.  

The center of the putter carries the most impact for a good putt. By connecting the center of the putterhead with the ball, you have more control of the movement and produce more distance .  


Tip adapted from GolfDigest[21]
No More Stretching the Truth About Stretching

You hear the rumors: You must stretch; never stretch; hold stretches; don't bounce; do bounce; twist yourself into a pretzel.

So, what's the scoop on stretching?

First off, the traditional view:  
  • You have to hold your stretch to get the benefit.
  • Don't bounce. You'll pull something.
  • If you don't stretch before a workout, you're going to hurt yourself.
Not quite.

Now that we've thrown conventional wisdom out the window, what's the real deal?

According to the American College of Sports Medicine, stretching is good, but not mandatory. Stretching helps to keep older joints and muscles - particularly the hips and hamstrings - healthy and strong.

ACSM experts say you should stretch each of your major muscle groups for 60 seconds per exercise and do the stretches twice a week.

What about holding a stretch?

Stretching and holding for 15 seconds or so is called a static stretch, which if done correctly can be helpful.

Dynamic stretches, however, are just as helpful. With these types of stretches, you move your various muscle groups through the complete ranges of motion.  

What about stretching before exercise? Studies show that it might not be such a good idea for peak performance. Static stretching, in fact, may weaken muscles before a routine. A gentle warm up may provide the best benefit.

How about after-exercise stretching? Static stretches might fit well at the end of your workouts when you have better circulation and your limbs and muscles are limber.  

Stretching has benefits, but it would be stretching the truth to suggest they are absolutely necessary .  


Tips adapted from WebMD [22]
Cooking Up Energy Efficiency

Getting motivated to save money and become energy efficient in your kitchen is easy, once you know the facts.

Let's talk electricity. An hour's worth of cooking in a standard electric oven creates 2.7 pounds of CO 2 . A toaster oven creates 1.3 pounds in 50 minutes. A microwave oven creates 0.5 pounds in about 15 minutes of cooking. 

Using microwave ovens to cook also saves energy. Microwaves use half the energy of conventional ovens.

Dishwashers are modern marvels for two reasons: They save human time and energy and conserve water. The average dishwater uses 8.7 gallons of water per load while the average dish washing by hand, with water running, uses 20 gallons .

Tip adapted from WWF[23 ]
Share the Wealth of Knowledge!
 
Please share this market update with family, friends, or colleagues. If you would like us to add them to our list, simply click on the "Forward email" link below. We love being introduced!

 

 
Visit My Site
Bruce and Michelle Hearon
"Team Hearon"
Keller Williams On The Water Sarasota
22 Links Ave. #200

Copyright © 2018. All Rights Reserved.