The biggest issue in the Sarasota Metro new construction market is builders raised prices as much as 35% in the first 5 months of 2022. This is true even though material cost peaked in 2021 and all of those costs and resulting increases were realized in 2021. It was last years story and reason sales reps and realtors touted as the justification of the substantial increases. Material cost had fallen prior to 2022 from its peak. My thought is builders anticipated a spring buyer rush to beat the inevitable forecasted interest rate hikes and raised prices excessively. When prices increase 35% over 5 months anyone would be justified in questioning it. Now builders are cutting prices through incentives and pushing them as a great deal even though regardless of the the incentives we are still way over the 4th quarter 2021 pricing in a much changed and softer market. Does not make much sense. Plus now builders are hard pressed to lower prices further because they dont want to anger buyers who bought at the near term peak and have yet to close on their home. I have yet to have anyone from builders, sales reps or realtors quantify the excessive increases in the first half of 2022. Supply and demand? Really 35% over 5 months, dont think so.
Thank you Katrin for being transparent and welcoming an open dialog. Other realtors have deleted truthful and useful commentary of mine I suspect because it did not conform to the nothing but blue skies narrative they were trying to portray.
Great video I think you should expand more on these communities with videos of the development, models, amenities (if any) and News on prices/interest rates drop or increase. This will help you as well as an agent.
Ya Mattamy homes is huge here in Toronto area, their headquarters is about 10 minutes drive from me. The owners sons name is Matt and his daughters name is Amy. They make really good homes here.
Hi Barbara, yes that is absolutely right. 15 minutes to Venice beach. That's what I said but the audio is a little muffled. I am having lots of audio issues that I have not been able to fix yet :(.
So publicly traded, Builders will sell and reduce price to meet their bottom line . Does that mean that private companies like Mattamy will hold the line on prices?
It stands for Community Development District. A developer will take out a bond which is passed through as CDD fees to residents to finance the community infrastructure and amenities.
from WSJ "The traffic tie-ups aggravated by the newcomers threaten to become a drag on economic growth. Miami residents lost 105 hours to traffic jams on average in 2022, according to Inrix, up 30% from 2019. Nashville’s lost hours over the same period rose 13% to 41. Other Sunbelt metropolitan areas with worsening delays include Las Vegas; Sarasota, Fla.; St. Petersburg, Fla.; and Savannah, Ga."
Thank you young lady for keeping us informed.God bless.
Thank you for your kind words Shannon. 🙃
The biggest issue in the Sarasota Metro new construction market is builders raised prices as much as 35% in the first 5 months of 2022. This is true even though material cost peaked in 2021 and all of those costs and resulting increases were realized in 2021. It was last years story and reason sales reps and realtors touted as the justification of the substantial increases. Material cost had fallen prior to 2022 from its peak. My thought is builders anticipated a spring buyer rush to beat the inevitable forecasted interest rate hikes and raised prices excessively. When prices increase 35% over 5 months anyone would be justified in questioning it. Now builders are cutting prices through incentives and pushing them as a great deal even though regardless of the the incentives we are still way over the 4th quarter 2021 pricing in a much changed and softer market. Does not make much sense. Plus now builders are hard pressed to lower prices further because they dont want to anger buyers who bought at the near term peak and have yet to close on their home. I have yet to have anyone from builders, sales reps or realtors quantify the excessive increases in the first half of 2022. Supply and demand? Really 35% over 5 months, dont think so.
Thank you Katrin for being transparent and welcoming an open dialog. Other realtors have deleted truthful and useful commentary of mine I suspect because it did not conform to the nothing but blue skies narrative they were trying to portray.
Another well thought out,researched and delivered segment,you should have a guest spot on channel 40 news.
Total pro!!
John, I always appreciate your kind words. Thanks so much. Have a great weekend.
Great video I think you should expand more on these communities with videos of the development, models, amenities (if any) and News on prices/interest rates drop or increase. This will help you as well as an agent.
👍 :)
Ya Mattamy homes is huge here in Toronto area, their headquarters is about 10 minutes drive from me. The owners sons name is Matt and his daughters name is Amy. They make really good homes here.
Thank you for your input. Most people seem to be happy in a Mattamy home.
prices and rates are still too high we need prices back down to 300,000 for SFH fees and insurance all adds up
I think that the Venice beaches are only about 15-20 min. away, not 50 minutes.(from Talon Preserve)
Hi Barbara, yes that is absolutely right. 15 minutes to Venice beach. That's what I said but the audio is a little muffled. I am having lots of audio issues that I have not been able to fix yet :(.
Have you done anything on Wellen? Or is it outside your wheelhouse? TY
Hi Kenneth, I service Wellen Park as well. All these communities in Sarasota County are relatively close to each other.
So publicly traded, Builders will sell and reduce price to meet their bottom line . Does that mean that private companies like Mattamy will hold the line on prices?
What is a cdd fee?
It stands for Community Development District. A developer will take out a bond which is passed through as CDD fees to residents to finance the community infrastructure and amenities.
Thank you
@@bikerider6228 you're welcome
from WSJ "The traffic tie-ups aggravated by the newcomers threaten to become a drag on economic growth. Miami residents lost 105 hours to traffic jams on average in 2022, according to Inrix, up 30% from 2019. Nashville’s lost hours over the same period rose 13% to 41. Other Sunbelt metropolitan areas with worsening delays include Las Vegas; Sarasota, Fla.; St. Petersburg, Fla.; and Savannah, Ga."
thanks for sharing