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2310 Gulf Drive North, #206, Bradenton Beach, Florida 34217
2310 Gulf Drive North, #206, Bradenton Beach, Florida 34217
Beauty and the Beach!... Delightful, Direct Gulf Front, 2 bedroom/1 bathroom corner condo on beau...
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Key Royale Boat Dock, Holmes Beach, Florida 34217
Key Royale Boat Dock, Holmes Beach, Florida 34217
SOLD: Here is a great opportunity to own a rarely available 16' wide boat slip on a Key ...
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2307 Avenue C, Bradenton Beach, Florida 34217
2307 Avenue C, Bradenton Beach, Florida 34217
Superb Anna Maria Island duplex, beautifully renovated inside and out, with a heated pool and a g...
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747 North Shore Drive, Anna Maria, Florida 34216
747 North Shore Drive, Anna Maria, Florida 34216
The pleasures of a beach front vacation start with the many relaxing Gulf views from this Key Wes...
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8027 Marina Isles Lane, Holmes Beach, Florida 34217
8027 Marina Isles Lane, Holmes Beach, Florida 34217
SOLD: Dolphin Watch . . . an exclusive and serenely private, luxury, bay front residence of ...
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Home Values Rising On Anna Maria Island

75th street front
Anna Maria Island Home For Sale

By GRACE GAGLIANO
ggagliano@bradenton.com

BRADENTON — With the exception of Anna Maria Island, home values across Manatee County continued to decline in June, according to statistics released Monday (Aug. 9)  by real estate tracker Zillow.com

Home values in the Sarasota metro market, which includes Manatee and Sarasota counties and with their cities and neighborhoods, fell to $150,200 in June, a .3 percent decline from May and 4.4 percent drop from a year ago.

Home values in the United States declined 3.2 percent from June 2009 to $182,500 in June 2010, according to Zillow.com.

Meanwhile, home values continue to rise on Anna Maria Island. Zillow reported Anna Maria and Holmes Beach saw its fifth straight month of value increases, rising to $458,100 and $364,600 respectfully. Bradenton Beach home values increased .1 percent from May to June, rising for a fourth straight month to $231,200.


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Mortgage Rates Hit Lowest Level In Decades

house_sold

By ALAN ZIBEL, AP Real Estate Writer

WASHINGTON – Mortgage rates dropped to the lowest level in decades for the sixth time in seven weeks, offering the most attractive opportunity for those who qualify to refinance or purchase a home.

Government-controlled mortgage buyer Freddie Mac said Thursday that the average rate for 30-year fixed loans this week was 4.49 percent, down from 4.54 percent last week. That’s the lowest since Freddie Mac began tracking rates in 1971.

The average rate on the 15-year fixed loan dropped to 3.95 percent, down from 4 percent last week and the lowest on record.

Rates have fallen since spring as investors seek the safety of U.S. Treasury bonds. That has lowered the yield on Treasurys. Mortgage rates tend to track those yields.

The last time home loan rates were lower was during the 1950s, when most mortgages lasted just 20 or 25 years.

Low rates have sparked some activity in the weak housing market, but not a massive boom in refinancing.

Applications to refinance loans increased 1.3 percent and those to purchase homes increased 1.5 percent, according to the Mortgage Bankers Association.

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Former Tidemark to Become Reality Under Mainsail Development

Buildings surround the marina in this architect's rendering of the Mainsail development in Holmes Beach.

Buildings surround the marina in this architect's rendering of the Mainsail development in Holmes Beach.

By Pat Copeland – Sun Staff Writer
June 30, 2010

HOLMES BEACH – Joe Collier, president of Mainsail Development of Tampa, unveiled drawings by the architectural firm of Cooper, Johnson, Smith for the Mainsail Lodge and condos at 5325 Marina Drive.

“We should have construction drawings by early fall,” Collier said. “Our goal is to have the building permit before the end of the year.

“We have a nice amount of reservations – about eight. We’ll work on pricing over the next 30 to 45 days.”

He said the Mainsail marina complex would have 37 units. In addition, there is a 62-slip marina with boats and fishing guides and a lodge is planned.

“We have been sprucing up the trailer there and added boats and lifts,” he said.

Collier said the company has sold four units and is about to sell a fifth at the Beach Inn, its other Island condo complex at 101 66th Street. Units are being sold as a modified condo/hotel, and when the owner is not using a unit, it is a hotel rental.

The Mainsail Lodge and Marina, formerly the Tidemark Lodge and Marina, was begun by Nick Easterling in 2001. Easterling filed for bankruptcy in 2004 and in 2005, Reliance Realty Partners joined the project and the bankruptcy was resolved.

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HOLMES BEACH – Joe Collier, president of Mainsail Development of Tampa, unveiled drawings by the architectural firm of Cooper, Johnson, Smith for the Mainsail Lodge and condos at 5325 Marina Drive.
“We should have construction drawings by early fall,” Collier said. “Our goal is to have the building permit before the end of the year.
“We have a nice amount of reservations – about eight. We’ll work on pricing over the next 30 to 45 days.”
He said the Mainsail marina complex would have 37 units. In addition, there is a 62-slip marina with boats and fishing guides and a lodge is planned.
“We have been sprucing up the trailer there and added boats and lifts,” he said.
Collier said the company has sold four units and is about to sell a fifth at the Beach Inn, its other Island condo complex at 101 66th Street. Units are being sold as a modified condo/hotel, and when the owner is not using a unit, it is a hotel rental.
The Mainsail Lodge and Marina, formerly the Tidemark Lodge and Marina, was begun by Nick Easterling in 2001. Easterling filed for bankruptcy in 2004 and in 2005, Reliance Realty Partners joined the project and the bankruptcy was resolved.

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Mortgage Rates Drop to Lowest Level In Five Decades

Alan Zibel
The Associated Press
July 2, 2010

WASHINGTON – July 2, 2010 – Mortgage rates have sunk to the lowest level in more than five decades, but consumers aren’t rushing to refinance their loans or buy homes.

Mortgage company Freddie Mac said Thursday the average rate for 30-year fixed loans sank to 4.58 percent this week.

mortgagerateart

That’s down from the previous record of 4.69  percent set last week and the lowest since the  mortgage company began keeping records in 1971.  The last time they were cheaper was the 1950s, when  most long-term home loans lasted just 20 or 25  years.

Rates have fallen over the past two months. Investors wary of the European debt crisis and the stock market have shifted money into the safety of Treasury bonds, driving down yields. Mortgage rates tend to track the yields on long-term Treasury’s.

On Wednesday, the yield on the benchmark 10-year Treasury note dropped to 2.95 percent. That was the first time it has fallen below 3 percent since April 2009, when the markets were beginning to recover from the financial crisis.
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Existing Home Sales Up In April

WASHINGTON (May 24, 2010) – Existing-home sales rose again in April with buyers motivated by the tax credit, improving consumer confidence and favorable affordability conditions, according to the National Association of Realtors®.

increasing home sales (art)Existing-home sales1, which are completed transactions that include single-family, townhomes, condominiums and co-ops, increased 7.6 percent to a seasonally adjusted annual rate of 5.77 million units in April from an upwardly revised 5.36 million in March, and are 22.8 percent higher than the 4.70 million-unit pace in April 2009. Monthly sales rose 7.0 percent in March.

Lawrence Yun, NAR chief economist, said the gain was widely anticipated. “The upswing in April existing-home sales was expected because of the tax credit inducement, and no doubt there will be some temporary fallback in the months immediately after it expires, but other factors also are supporting the market,” he said. “For people who were on the sidelines, there’s been a return of buyer confidence with stabilizing home prices, an improving economy and mortgage interest rates that remain historically low.”

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Statewide Existing Single-Family Home Sales Up 24%

ORLANDO, Fla. – May 11, 2010 — Sales of existing single-family homes in Florida rose 24 percent in first quarter 2010 compared to the same period a year earlier, according to the latest housing statistics from Florida Realtors®.

A total of 38,846 existing homes sold statewide in 1Q 2010; during the same period the year before, a total of 31,410 existing homes sold. It marks the seventh consecutive quarter that Florida has seen higher existing year-to-year home sales, according to the state association.

Statewide sales of existing condominiums in the first quarter rose 67 percent compared to the same time the previous year.

Single-Family Homes, Condo Sales Continue Upward Trend

Single-Family Homes; Condo Sales Continue Upward Trend

This marks the sixth consecutive quarter for increased statewide sales in both the existing home and condo markets compared to year-ago levels.

“The first quarter data release from the Florida Realtors paints a picture of a housing market continuing down the long road to recovery,” said Dr. Sean Snaith, director for the University of Central Florida’s Institute for Economic Competitiveness.

“Transactions in the single family market have extended quarterly year-over-year gains for nearly two years, and condo sales have also risen sharply.

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Mortgage Rates Retreat To 6-Week Low

McLEAN, Va. – May 7, 2010 – Rates for 30-year fixed mortgages have fallen to their lowest level in six weeks, Freddie Mac said Thursday.

The average rate for 30-year fixed-rate mortgages was 5 percent this week, down from last week when it averaged 5.06 percent. A year ago, 30-year fixed rate mortgages averaged 4.84 percent, Freddie Mac said.

The average rate for 30-year fixed-rate mortgages was 5 percent this wee

The average rate for 30-year fixed-rate mortgages was 5 percent this week

Rates dropped to a record low of 4.71 percent in December, pushed down by a campaign by the Federal Reserve to reduce borrowing costs for consumers.

The program ended at the end of March, but the Fed left the door open to reviving the program if the economy weakens.

The last time rates for 30-year fixed mortgages averaged less than 5 percent was the week of March 25, when they were 4.99 percent.

Rates dropped to a record low of 4.71 percent in December, pushed down by a campaign by the Federal Reserve to reduce borrowing costs for consumers. The program ended at the end of March, but the Fed left the door open to reviving the program if the economy weakens.
The last time rates for 30-year fixed mortgages averaged less than 5 percent was the week of March 25, when they were 4.99 percent.
Freddie Mac collects mortgage rates on Monday through Wednesday of each week from lenders around the country. Rates often fluctuate significantly, even within a given day, often tracking the interest rate paid on long-term Treasury bonds.
This week, the average rate on a 15-year fixed-rate mortgage was 4.36 percent, down from last week when it averaged 4.39 percent.
Rates on five-year, adjustable-rate mortgages averaged 3.97 percent, down from 4 percent a week earlier. Rates on one-year, adjustable-rate mortgages dipped to 4.07 percent from 4.25 percent.
The rates do not include add-on fees known as points. One point is equal to 1 percent of the total loan amount.
The nationwide fee for loans in Freddie Mac’s survey averaged 0.7 of a point for 30-year, 15-year, and 5-year loans, and 0.6 of a point for 1-year loans.
Freddie Mac: Mortgage rates sink to 6-week low
McLEAN, Va. – May 7, 2010 – Rates for 30-year fixed mortgages have fallen to their lowest level in six weeks, Freddie Mac said Thursday.
The average rate for 30-year fixed-rate mortgages was 5 percent this week, down from last week when it averaged 5.06 percent. A year ago, 30-year fixed rate mortgages averaged 4.84 percent, Freddie Mac said.
Rates dropped to a record low of 4.71 percent in December, pushed down by a campaign by the Federal Reserve to reduce borrowing costs for consumers. The program ended at the end of March, but the Fed left the door open to reviving the program if the economy weakens.
The last time rates for 30-year fixed mortgages averaged less than 5 percent was the week of March 25, when they were 4.99 percent

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Pending Sales of Existing Homes Rise 5.3%

By Shobhana Chandra – Bloomberg BusinessWeek – May 4, 2010

More Americans signed contracts in March to buy previously owned homes before the expiration of a tax credit that has helped support the housing market.

The housing market, which triggered the worst recession since the 1930s, has received a boost from a tax incentive of as much as $8,000 for buyers who signed the contracts by the end of April. Job gains are needed to help sustain demand and limit foreclosures in the absence of government aid, broadening the economic recovery.

increasing home sales (art)“More people came in to beat the rush,” Stephen Gallagher, chief U.S. economist at Societe Generale SA in New York, said before the report. “Sales are rising at a pretty healthy clip. There’s growing confidence that the job market has bottomed out and is crawling up again.”

Sales were projected to rise in March after an originally reported gain of 8.2 percent in February, according to the median of 39 forecasts in the Bloomberg survey. Estimates ranged from gains of 0.9 percent to 9 percent.

Orders placed with U.S. factories unexpectedly rose in March, propelled by demand for business equipment and petroleum, signaling the economic expansion gained speed at the end of the first quarter.

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By Shobhana Chandra
May 4 (Bloomberg) — More Americans signed contracts in March to buy previously owned homes before the expiration of a tax credit that has helped support the housing market.
The housing market, which triggered the worst recession since the 1930s, has received a boost from a tax incentive of as much as $8,000 for buyers who signed the contracts by the end of April. Job gains are needed to help sustain demand and limit foreclosures in the absence of government aid, broadening the economic recovery.
“More people came in to beat the rush,” Stephen Gallagher, chief U.S. economist at Societe Generale SA in New York, said before the report. “Sales are rising at a pretty healthy clip. There’s growing confidence that the job market has bottomed out and is crawling up again.”
Sales were projected to rise in March after an originally reported gain of 8.2 percent in February, according to the median of 39 forecasts in the Bloomberg survey. Estimates ranged from gains of 0.9 percent to 9 percent.
Orders placed with U.S. factories unexpectedly rose in March, propelled by demand for business equipment and petroleum, signaling the economic expansion gained speed at the end of the first quarter.

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Tourist Still Flocking, But Spending Less

Tourist numbers are on a par with last year, said Kathy O'Bryan, manager of Peach's Restaurant on Holmes Beach.

Tourist numbers are on a par with last year, said Kathy O'Bryan, manager of Peach's Restaurant on Holmes Beach.

By RICHARD DYMOND – rdymond@bradenton.com

ANNA MARIA ISLAND — Every year for the past 25, Mark Short and his family leave the suburbs of Detroit for a week and come to Anna Maria Island for a vacation.

Sometimes it’s for Easter week like this year, sometimes it’s in the summer.

Still, some things have changed.

For one, the Shorts now plan out everything they will spend for the week instead of just letting spontaneity rule.

And instead of spending the whole week at a rented condo or house at the beach, they now save money by spending half their vacation with either Short’s sister-in-law, Nancy Haller, or his father-in-law, Jim Tyrrell, both of Bradenton.

Occupancy levels for hotels and motels in Manatee County showed small incremental increases over last season, starting in December, said Jessica Grace, marketing and public relations director for the Bradenton Area Convention and Visitor’s Bureau.

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Tourists still flocking, but spending less
By RICHARD DYMOND – rdymond@bradenton.com
Buzz up!
ANNA MARIA ISLAND — Every year for the past 25, Mark Short and his family leave the suburbs of Detroit for a week and come to Anna Maria Island for a vacation.
Sometimes it’s for Easter week like this year, sometimes it’s in the summer.
Still, some things have changed.
For one, the Shorts now plan out everything they will spend for the week instead of just letting spontaneity rule.
And instead of spending the whole week at a rented condo or house at the beach, they now save money by spending half their vacation with either Short’s sister-in-law, Nancy Haller, or his father-in-law, Jim Tyrrell, both of Bradenton.
Occupancy levels for hotels and motels in Manatee County showed small incremental increases over last season, starting in December, said Jessica Grace, marketing and public relations director for the Bradenton Area Convention and Visitor’s Bureau.

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Rates on 30-Year Loans Rise to 5.21%

By Alan Zibel, Associated Press real estate writer

WASHINGTON (AP) – April 9, 2010 – Rates for 30-year home loans surged last week, rising to the highest level in eight months due to the improving economy and the end of a government push to keep rates low.

Interest Rates Hit 8-month High

Interest Rates Hit 8-month High

The average rate on a 30-year fixed rate mortgage was 5.21 percent this week, up from 5.08 percent a week earlier, Freddie Mac said Thursday. That’s the highest since mid-August, when the average rate was 5.29 percent.

Rates had dropped to a record low of 4.71 percent in December, pushed down by a campaign by the Federal Reserve to reduce borrowing costs for consumers. The program ended last week, but the Fed left the door open to reviving the program if the economy weakens.

Freddie Mac collects mortgage rates on Monday through Wednesday of each week from lenders around the country. Rates often fluctuate significantly, even within a given day, often tracking the interest rate paid on long-term Treasury bonds.

Treasury yields have climbed steadily in recent weeks because of weak demand. The government has had to offer a better interest rate to sell its bonds as investors shift toward stocks and riskier corporate debt.

The 10-year yield rose above 4 percent on Monday for the first time since June, but fell back to 3.85 percent on Thursday.

This week, the average rate on a 15-year fixed-rate mortgage was 4.52 percent, up from 4.39 percent last week.

Rates on five-year, adjustable-rate mortgages averaged 4.25 percent, up from 4.1 percent a week earlier. Rates on one-year, adjustable-rate mortgages rose to 4.14 percent from 4.05 percent.

The rates do not include add-on fees known as points. One point is equal to 1 percent of the total loan amount.

The nationwide fee for loans in Freddie Mac’s survey averaged 0.6 of a point for 30-year, 15-year and 5-year loans and 0.5 of a point for 1-year-loans.

WASHINGTON (AP) – April 9, 2010 – Rates for 30-year home loans surged last week, rising to the highest level in eight months due to the improving economy and the end of a government push to keep rates low.
The average rate on a 30-year fixed rate mortgage was 5.21 percent this week, up from 5.08 percent a week earlier, Freddie Mac said Thursday. That’s the highest since mid-August, when the average rate was 5.29 percent.
Rates had dropped to a record low of 4.71 percent in December, pushed down by a campaign by the Federal Reserve to reduce borrowing costs for consumers. The program ended last week, but the Fed left the door open to reviving the program if the economy weakens.
Freddie Mac collects mortgage rates on Monday through Wednesday of each week from lenders around the country. Rates often fluctuate significantly, even within a given day, often tracking the interest rate paid on long-term Treasury bonds.
Treasury yields have climbed steadily in recent weeks because of weak demand. The government has had to offer a better interest rate to sell its bonds as investors shift toward stocks and riskier corporate debt.
The 10-year yield rose above 4 percent on Monday for the first time since June, but fell back to 3.85 percent on Thursday.
This week, the average rate on a 15-year fixed-rate mortgage was 4.52 percent, up from 4.39 percent last week.
Rates on five-year, adjustable-rate mortgages averaged 4.25 percent, up from 4.1 percent a week earlier. Rates on one-year, adjustable-rate mortgages rose to 4.14 percent from 4.05 percent.
The rates do not include add-on fees known as points. One point is equal to 1 percent of the total loan amount.
The nationwide fee for loans in Freddie Mac’s survey averaged 0.6 of a point for 30-year, 15-year and 5-year loans and 0.5 of a point for 1-year-loans.
Copyright © 2010 The Associated Press, Alan Zibel, AP real estate writer.

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