Mortgage Rates Tumbled This Week, Take Action New

Mortgage rates tumbled this week getting closer to historic lows. Freddie Mac reported on Thursday that the average 30-year mortgage rate fell to 4.41% from 4.51% last week while the average 15-year loan rate dropped from 3.56% to 3.45%.

For those hoping to buy as a first or second home one of the Lakewood Ranch homes for sale, this is great news. Mortgage rates had risen a whole percentage over the past year since hitting record lows. The major cause of the increase3 was speculation that the Federal Reserve would cut back on its mortgage buying program, but that has been trimmed back only slightly.

While the increase in mortgage interest rates had slowed home sales which fell for three straight months, home sales in 2013 were nonetheless the best since the housing crisis began.

It is important for prospective home buyers to understand, however, that a single point increase in the interest rate will reduce your buying power by about 11%. That is to say, if you could afford the mortgage payments on a $250,000 home at an interest rate of 4.5%, you will only be able to afford the payment on a home worth about $223,000 if the mortgage interests rate increases to 5.5%, a one percentage point increase.

The Lakewood Ranch village of Greenbrook is an example of one of the nice places to consider buying a home right now. Located in the northeast section of Lakewood Ranch and has neighborhoods set amidst pristine lakes and nature preserves and wildlife habitats, Greenbrook is a community within a community with neighborhoods dedicated to a comfortable Florida lifestyle. Homes in the Banks neighborhood of Greenbrook begin in the $100's while homes in the Ravines neighborhood range from the 200's. Larger homes in the Preserve are priced in the range from the $300's to the high $500's.

So, if you are considering buying a home or condo in the Sarasota real estate market anytime in the next year or two, now is the time to get moving. As the Federal Reserve reduces its mortgage buying program, as it surely will, interest rates will go up and that will decrease your buying power. Call me today at 941-228-2321 to start looking at homes in Lakewood Ranch that may fit your needs and desires.

Elegant Home in the Lakwood Ranch Country Club Community

I want to introduce you to a home with 4 bedrooms, 4 full baths and 2 half baths that exudes private luxury with resort-quality landscaping here in the Lakewood Ranch Country Club section of this unique Florida development.

Lakewood Ranch offers some of the finest Sarasota luxury homes, albeit that they are just slightly out of the city of Sarasota, itself. Lakewood Ranch is within an easy ten to fifteen minute drive of all the amenities of downtown Sarasota and yet just comfortably away from the noise and traffic of downtown during daylight hours. The gated Country Club community within Lakewood Ranch offers a wide variety of Lakewood Ranch country club homes in seven separate neighborhoods, all built around the 54-hole private Lakewood Ranch Golf & Country Club and Athletic Center. This delightful Lakewood Ranch "village" includes miles of side walks and trails allowing you to stroll the area in view of surroundings left in its natural state.

The private Lakewood Ranch Golf & Country Club includes 3 separate 18-hole courses each of which will challenge you and your fellow residents whatever your level of play. The elegant clubhouse includes dining lounges and card rooms, a pro shop, locker rooms, steam room sauna and whirlpool and cart storage. The fitness center is filled with state-of-the-art equipment, heated pools and eighteen lighted tennis courts.

Luxurious mahogany doors introduce you to this immaculate and spacious Pruett-built home via the foyer with inset water-cut stone medallion. You'll find beyond those gorgeous doors, the interior of an elegant home with Swarovski crystal chandeliers and tremendous lake views. A uniquely gorgeous heated pool with dolphin fountain and spa, outdoor kitchen and lush gardens highlight the outdoor area of the home.

A morning Room and open-air Italian-style loggia with private garden add to feeling of luxury as you dine at breakfast or causally in the afternoon. With a formal living room with marble fireplace, formal dining room, family room, theater with seating for nine, billiard room, and a luxurious first floor master suite opening to a private courtyard, and an office. The large open kitchen has Viking appliances, raised/covered dishwasher, granite countertops, and wine storage. Plus, there's an enormous upstairs bonus area with balcony. This home is truly exceptional.

Recent upgrades to this home with 6,171 square feet of living space and a total of 8,514 under roof include hurricane-grade doors/windows, upgraded A/C, push-button shades, porcelain/maple floors throughout, and fantastic landscaping.

I don't believe you can find another home with similar features, beauty, serenity, and privacy at this price of $1,999,995 anywhere on the Florida real estate market. Contact me today at 941.232.4053 to arrange a private showing of this elegant one-of-a-kind home.