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Bruce Farlow

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The Value of “Home” and the American Dream

by Bruce Farlow

Many people ask “is a major facet of owning a home still a pillar of the American Dream?” Well, it is and always has been a tenant of the age old saying. Home ownership has never been stronger than it is today. Home values are strong, rates are low, and people are flocking to buy homes.

Why is this? Why are people going full-throttle with buying homes? Simple: the market is strong. Not only that…but because, well, people want to. They know that it is the best time to buy a home in the past decade. South Florida especially is a hot bed for new construction, vintage style homes, and any type of real estate you can think of.

Many people are buying homes for various reasons. Maybe they want to invest in properties solely for passive income. Maybe they want to buy their dream home for their family. Some people are going as far as to renting out plots of grass in their backyard for people to grow a vegetable garden. There are endless possibilities when it comes to home ownership—and nothing as heartwarming as turning a house into a home and calling it your very own.

Your home is yours and you have the power to do whatever you’d like. Once again, isn’t that the core tenant of the American Dream—to work hard and be able to provide for yourself and your family and have the options of doing what you want? With renting, it just isn’t the same. Yes, you can spruce up your apartment…but it truly isn’t the same.

Of course, buying isn't for everyone. Maybe you’re uncertain with your current employment situation and you don’t want to get too tied down. Maybe you enjoy a bit less responsibility than comes with home ownership. All of the aforementioned is fine and dandy. Everyone has their preferences. That is, of course, the ultimate foundation of the American Dream.

 

There’s No Place Like Home

by Bruce Farlow

Ah, yes—the spring in the Sunshine State. Truly the best time of year. Time to hit the beach, practice your backhand on the court, or your stroke on the green. Florida offers so much and Sarasota is in the heart of this great state. How could you not want to live here?

Florida, believe it or not, is a very affordable place to call home. With no state income tax, residents get to benefit from the extra income throughout the year. In addition, suburban homes are not far from the average throughout America when it comes to price. Florida is a very appealing place to call home.

Sarasota also harbors a plethora of different housing options ranging from waterfront villas to suburban townhomes. There is not a style of home you can’t find in Sarasota. Whether you’re single, married, or have a family—there are amazing communities calling your name.

The weather is something that cannot be ignored, as well. The cool Atlantic gulf breeze coupled with the sun-kissed afternoons make a beautiful climate year-round. Would you rather be shoveling snow during December up north or digging your toes in the powder white sand of Siesta Key?

Sarasota also provides year-round entertainment for out of towners or locals. With the Ringling Museum, Siesta Key entertainment, Selby Botanical Gardens, and much more—there is family-fun entertainment for all walks of life.

Not to mention--In 2017 Dr. Beach, a.k.a. Dr. Stephen P. Leatherman, Director of Laboratory for Coastal Research at Florida International University (considered America’s top tier beach expert) awarded Siesta Key as America’s Best Beach published popularly in US News. What more could you possibly need?

Should I Buy a Home Now?

by Bruce Farlow

I'm often asked if this is a good time to buy a home. Some clients are concerned that home prices may fall down the road, while others are convinced that home prices will go up.

Home prices are one factor in determining your cost of ownership, but so are interest rates and financing availability. Even though interest rates have fluctuated, they are still near historic lows. Since your monthly mortgage payment is a combination of paying down your principal and paying the interest owed, a one point rise in interest rates could cost tens of thousands of dollars over the life of your mortgage!

While a home is a major investment, it is also the center of your personal life. It's important to live in a home that reflects your taste and values, yet is within your financial "comfort zone." To that end, it may be more important to lock in today's relatively low interest rates while they are still available.

Please give me a call if I can be of any assistance in determining how much home you can afford in today's market.

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Bruce Farlow
Coldwell Banker
201 Gulf of Mexico Dr
Longboat Key FL 34228
941-650-4469