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Hey Mark! Thanks for checking in. Is it your believe that all new construction homes will be 30% cheaper next year? Or certain builders? or is it location based? I am curious about your thought process here or what indicators you are basing that on! Would be helpful for everyone to know. Thanks!

@JustinBenzRE There is a glut of inventory in most of the state. Unless the state takes drastic action, the condo market will collapse. Real estate investors are on the hook for higher taxes, and much higher insurance premiums. Look at how long homes sit unsold, even after price reductions. If your dream is to own a home in Florida, wait a year. At least we will know what the bottom of the market looks like. We made low offers on four properties, before we had an offer accepted. It's definitely a buyer's market, and will trend that way for a least the next year. I'd steer clear of buying a condo completely, at this point. The state legislature lack any foresight with the new laws on condo maintenance and finance. They should have allowed more time to phase in financial changes. As for new construction. I think developers will either hold back on plans or offer big incentives, paying property taxes, and insurance premiums for two or more years. It's already happening in some locations. What is the average number of days on the market in your area? What was that time frame two years ago?

@@markrichards6863 Great insight! I definitely agree about the condo market. It is brutal if you're trying to sell a condo right now. I have even turned down some condo listings recently siting a lack of buyers! New construction is rather unique since builders are able to get creative with their incentives and rate buy down programs (vs regular homeowners trying to sell). We have definitely seen an increase in inventory across the board (including new construction), but some builders are still pumping out homes and selling them with relative ease. The average DOM around here (Sarasota and Manatee Counties) is about 60 days, vs 2 years ago it was probably half of that. Insurance on new builds is extremely cheap still, with a 2,000 sq ft home getting insurance for appx. $1500/year. That of course also depends on location. Anyways, let me know if you hear of new legislation or other developments with the RE market here in FL. I love the engagement, thanks again!

@JustinBenzRE I feel bad for sellers who are under water financially, because their insurance and condo/HOA fees have gone sky high. HOAs were all the rage a few years ago. I would not want to be in an HOA now, even if the house and location was perfect.

Interesting! What’s it going to take to get you down to SWFL!? 75 and sunny here today :) Plenty of new construction options under $800 as I’m sure you’ve been seeing on my other vids 💪🏽. Talk soon! As always, thanks for tuning in

@@JustinBenzRE My wife is terrified of the hurricanes in that area. The insurance will most likely become an issue when our new home is older. Too many things going on Florida. we loved the sarasota area and lakewood ranch looked amazing but we are scared lol

@@BlackBirdieGolf I hear you! There is definitely some valid concern there. This year was unprecedented in terms of the number of named storms that hit FL, especially our little area. But unless you were here driving around the neighborhoods after each storm, it would be hard for you to understand the real effects. Anything off the coast was largely unaffected (downed trees, power outages, fence damage, etc.) I had 4 of my 30 solar panels fly off my roof and live about 1/2 a mile from Sarasota Bay. All the homes out in LWR were for the most part fine, and especially the newly built homes, which are built like fortresses and not built in any flood zones, were ok. Regarding insurance, there are no issues with newly built homes and I can tell you that they use an algorithm to price it out, and the closer you are to the water, the more expensive it is. My insurance is 3x that of larger houses in LWR just because I am closer to the water, even though I too, am not in a flood zone. Crazy. But Yeah, come on down for a visit and let's check some stuff out in person! Cheers.

@@JustinBenzRE Ive always appreciate your information. I would love to go down there again. We looked at the Taylor Morrison and toll Brothers communities. We liked the toll Brothers community in wellen park area also. I'll let you know the next time we are in the area. My co worker just retired and had a house built in Mill Creek in St Johns county. I'll see how stable Florida is in a couple years and revaluate. I just hope the hurricanes don't increase in volume going forward.

@@BlackBirdieGolf Awesome sounds good! Keep me posted. Happy to be a resource or even hit the links! Keep tuning in 😀

Absolutely! $200-ish a month for basically a resort. Amenities are insanely nice. Definitely want to look at one of the bigger models then. There’s a few in that range you mentioned 👍👍

You nailed it with the upgrades and cost to get premium water view lots, for example. In general, you can ballpark a pool + cage from the builders to cost just under $100k alone. Aftermarket companies can be a bit more affordable, maybe $75k for a really nice pool with a cage. Lot premiums also add to the cost of homes in most communities. Anywhere from $5k to crazy numbers of $250k in some communities (Toll Brothers, for example). Regarding the weather, all these new construction homes are built so well that there really isn't "weather risk", in my opinion. This area around Sarasota and LWR just went through 3 hurricanes (unprecedented) and most of the damage is with landscape, fencing, maybe some roof shingles, and not out east in the new communities of LWR. Do you have your eyes on any specific communities or just looking in general?

Absolutely right! You can always consider the models to be pretty “decked out” with extras. THanks for watching and let me know if there’s anything else I can help with during your search!

Agreed! Crazy good value going on in Two Rivers right now. Let me know if you want any more details on Pulte or any of the other builders in there. Thanks!

Thanks for commenting! Do you happen to live in this community? The low HOA seems crazy for the amenities you get, perhaps they "make up for it" with the CDD...

​@@JustinBenzRE No just a prospective buyer. When it comes to HOA's I believe that builders keep the HOA cost low because it factors in to the whole affordability aspect of buying a home. I think one can fully expect that the HOA will go up substantially once the builder leaves. I am only speculating but I believe that at the inception of Skye Ranch it was the intention to keep the CDD stable thru the final sale but perhaps they encountered some unanticipated costs that made them have this variable CDD depending on the lot being sold. What it seems is it gets progressively more expensive for new buyers as time goes by. So basically someone who bought early on can have a CDD that is half the cost of someone who lives in the community with the same exact home and comparable lot. It kind of puts a curveball into resales since a buyer would favor a equally priced comparable home with a much lower CDD. There is also the expansion of the amenities on the Esplanade side with the Bahama Bar and new amenities which my feeling is was more of an afterthought to boost the slowdown in sales than part of the original plan. Also there is Turner Park which is a Sarasota County public park on the Skye Ranch footprint which the residents of Skye Ranch foot much of the cost of from the construction, ongoing maintenance and insurance. It is set up to be net neutral to the County of Sarasota tax base. Doesn't seem very fair but it is one of the concessions the builder made to County to ok the project.

@@claudiahansen4938 that’s a great update! Thanks for sharing, and glad you guys and your house are ok 💪🏽🌴

I saw where a few stayed and the rest evacuated but not one home suffered damage and while everyone around their community was without power they never lost it. This community sounds like the safest community to live in.

100% And lots of builders to choose from! Have you been there in person yet?

Good builder. Horrible pricing.

Yes, very good / reputable builder. They have high ratings on Google as well in our area. I would say you can make a fair comparison with Toll Brothers in terms of quality, some would even say better.

I tend to agree, now that you have pointed that out! Although I am guessing that if you rearrange the furniture a bit (aka get rid of those 2 chairs and move the couch down towards the sliders, things would work out a lot better. I have been in some units that were arranged much better than this. Have you seen some of the other villas in the area?

Exactly!! What is your favorite part?

You are not alone, some of my clients have the same feelings. It really depends on the builder and location too. Lakewood Ranch and Sarasota have still held pretty strong demand, especially at the higher price points, whereas builders to the South and North of us have been offering really great incentives trying to dump some of their excess inventory, especially at the lower price points. Let me know if you ever want to set up a meeting to discuss further! Thanks for watching :)

Makes sense. What do you like to compare them to? Like which builders?

Thanks for the message! Hope you and yours are doing well!

So on the Lido, as an example... there are currently 2 that are completed and ready for move in (meaning finishes already picked, etc.) Without a pool, those are right around $585k and $600k, respectively. Add a pool and you are up another $100k at Cresswind. Keep in mind this is a 55+ over community. If interested in learning more, let me know! Thanks.

Hi @Matthew, you nailed it! This exact model all in would cost appx. $850k. The pool alone is roughly $100k. Let me now if you want more details or a more specific breakdown of upgrades. Text is best, 941-999-0364.

Hi @wildernessdisneydad1621 This exact model all in would cost appx. $850k. The pool alone is roughly $100k. Let me now if you want more details or want to set up a tour. Text is best, 941-999-0364. Thanks for checking and I look forward to helping you with your home search! 🌴

How is your business going?

🙌🏼🙌🏼🙌🏼

@@JustinBenzRE I feel very proud to be your friend