Boomers All Remember American Top 40, SRQ Local Master Planned Communities, Keep Cranking Out The Hits, Year After Year, Ranking #2 & #4 In All USA Again !

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Local Developments Among Top US Sellers By John Hielscher, Staff Writer, Sarasota Herald Tribune, 4 January 2019

In a further sign of the strength in the region’s real estate market, two master-planned communities in Southwest Florida again ranked among the top sellers in the country.

Lakewood Ranch moved up one spot to second place for sales in 2018 in newly released reports by two real estate consulting firms.

The West Villages in south Sarasota County ranked fourth in the report from John Burns Real Estate Consulting and fifth in a survey by RCLCO.

Lakewood Ranch, which sprawls across the border of Sarasota and Manatee counties, posted 1,479 new home sales in 2018, a 23 percent increase from the 1,206 reported the year before.

That 31,000-acre community with 32,000 residents ranked third in sales nationally in 2017. Among the top 10, only one community showed a higher percentage gain in annual sales. Lakewood Ranch has been listed among the top-selling master-planned communities in the country for seven years.

West Villages closed 1,108 new home sales in 2018, up 12 percent from the 992 the previous year. That 15,000-acre community’s rank differed because sales were estimated and varied at a project in California.

West Villages is being developed by a partnership that includes Mattamy Homes, the largest privately owned home builder in North America, and developer Vanguard Land.

Lakewood Ranch said its numbers were boosted by the opening of such new neighborhoods within it as The Isles by Toll Brothers, and by the growth of Waterside, a village in the Sarasota County portion of the community.

“The expansion in activity at Lakewood Ranch is driven in part by the opening of Waterside, the community’s 16th village, on the southern edge of the community,” RCLCO said. “The neighborhood, which will have a new town center with 100,000 square feet of retail, dining and office space, will include 5,000 homes at build out, meaning Lakewood Ranch’s time near the top of the survey will likely continue for the foreseeable future.”

Home buyers at Lakewood Ranch are coming from Tampa, Orlando and Florida’s East Coast, and from New York, New Jersey, Connecticut, Illinois and the mid-Atlantic, the community said. Buyers are showing up in increasing numbers from Georgia and California.

The developer also credits its “multi-generational” approach to marketing.

“Young families, their parents and grandparents have all found their home in Lakewood Ranch, and this reinforces our very strong extended family dynamic and helps amplify our home sales,” said Laura Cole, vice president of marketing for LWR Communities LLC.

Driven by demand from baby boomers, four Florida master-planned communities ranked in the top 10 and a total of 10 among the top 50. Master-planned communities in the state accounted for 28 percent of top 50 sales, RCLCO said.

“The Florida market continues to be buoyed by mature buyers due to the state’s long-term attractiveness as a retirement destination, and many of the top-performing Florida communities offer an age-restricted product,” RCLCO stated.

BRENT LEATHWOOD, MBA

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3 Big Mistakes Buyers make:

  1. 1. NOT KNOWING THE NEIGHBORHOOD...ContinuedReal estate always has been and always will be a local business. Know your neighborhood is a cardinal rule in this business. A real estate professional knows what is going on in their local market area. Hire a knowledge, local professional. When we see folks wandering around with a notebook and a list of questions, we know they are the most likely to make a costly mistake. A PROFESSIONAL Realtor, (please note the word professional), can spend 15 minutes listening to your needs and wants, and probably rule out 90% of the local market options, and focus your attention, on the 3 or 4 or 5 communities that will meet your needs, and make sense from both a financial and lifestyle point of view. I am amazed at how many people from out of State, go it alone, end up buying in the wrong community, and come to regret it. I meet people like this everyday, and everyone single one of them will say to me: “I wish we had met you first.”
  2. 2. GETTING STUCK IN AN HOA NIGHTMARE...ContinuedHome owners association nightmares are the stuff of legend in our State. Do not buy the wrong property in the wrong community. A knowledgeable real estate professional can explain to you upfront, the ins and outs of the HOA regulations of the community you are considering, and help you avoid 99% of these potential pitfalls. This is another very costly mistake.
  3. 3. THINKING YOU DO NOT NEED A REALTOR WHEN BUYING A NEW HOME...ContinuedEverybody knows you need a Realtor to represent you, when buying a resale home. Many do not know, you also need a Realtor to represent you, when buying a new home. The new home sales person in the model home works for the Builder, not the Buyer. They are paid to look out for their employer’s interests, not yours. You will not save $1 by going it alone. You will lose money. A lot of money. One of our largest local builders reported 872 annual sales, of which, 762 were handled by Realtors representing the Buyer. That is 87% of the total. The Builder has already factored paying a finder’s fee into the price. The Builder will not rebate $1 of this money back to you. Builders laugh under their breath, when Buyers try this negotiating tactic, even though they will politely agree with you. Professional representation costs you $0, why would you fend for yourself, in a market you know almost nothing about? Buyers know less than 20% of what they actually need to know, to get a great deal. Having gone through the new home buying process hundreds of times with clients, we know all the pitfalls to avoid, and how to make the process go smoothly. Do not go it alone, get professional representation, it costs you $0. Not doing this is the most costly of the 3 mistakes. But everyone has heard the old saying, you can lead a horse to water. We are in the business of helping our customers solve a problem. Our ability to do that, is the sole reason we have a thriving business. We are here to help you through the entire process, and get a great deal.

4 Big Mistakes Investors make:
  1. INCOME... ContinuedThe rental income does not justify the $/sq. ft. purchase price.
  2. EXPENSES... Continued The monthly expenses are too high, relative to the property type and rental income produced.
  3. CAP RATE... Continued The capitalization rate is too low to justify the investment.
  4. HOA REGS... Continued The home owners association regulations are too restrictive, or do not permit the intended use. Frequently overlooked or glossed over by some sales people, the long run financial consequences are catastrophic if a mismatch occurs.
Avoid Costly $$$ Mistakes: Hire Brent. Costs you $0.