Sarasota Florida News & Blog – DWELL Real Estate

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Good News for the Sarasota/Bradenton Real Estate Markets
Some positive news in the Sarasota/Bradenton real estate markets. Yesterday the July stats came out and the average home price for Sarasota county was $470,000 which was the same as it was a year ago. So, maybe prices have stopped falling. Condo prices are another story. We've got about a five to six month inventory of single family homes and that's a pretty balanced market. Other positive news is that mortgage rates have been the lowest they've been in a very long time. Jerome Powell with the Federal Reserve is showing signs of lowering rates next month when the when the Fed meets. So, if that happens, maybe mortgage rates will fall even more. Another positive thing is Warren Buffett just invested $1.8 billion in two home builders, Lennar and Dr. Horton. So, it appears that he's pretty bullish on the real estate market. We're also seeing a lot of news articles about real estate. I was on TV recently. A Tampa news station interviewed me a few weeks ago. So, the mainstream media is starting to get it. They're starting to report on it. So, the general public will start to get it. If you're a buyer, you actually have a lot more to choose from than than you did in the last few years. Sellers, you just have to price your property according to this year's sales, not last year's sales or the sales in the past 3 or 4 years. The sales prices we all wanted.
Posted 27 August 2025 | 7:51 pm

Buyers Agent Commissions Rose One Year After NAR Settlement
It turns out that many people do value real estate agents. Nowbam.com is reporting that real estate buyer commissions rose one year after the NAR settlement. I pasted the article below. Buyer Agent Commissions Rise to 2.43% One Year After NAR Settlement One year after the National Association of Realtors’ (NAR) settlement upended the way commissions are handled, buyer agent compensation is not falling as many predicted. Instead, it’s creeping back up to pre-settlement levels. According to a new Redfin report, the average U.S. buyer’s agent commission rose to 2.43% in Q2 2025, up from 2.38% a year earlier. That’s the third consecutive quarter of increases, bringing compensation back to where it was in the first quarter of 2024, before the settlement officially went into effect. Byron Lazine put it simply on this week’s Real Word Podcast: “One year in, Redfin—who hates agents earning a comp—they’ve got to publish the truth. And the stats don’t lie. Compensation is moving up.” So why are buyer agent commissions on the rise? Let’s break down the data and the market dynamics driving it. Redfin’s Key Findings on Buyer Agent Compensation Redfin’s analysis looked at thousands of closed transactions from its agents, partner agents, and Bay Equity Home Loans. The results show a steady recovery in compensation levels after a brief dip immediately following the NAR settlement. Here are the highlights from Q2 2025: National average: Buyer agent compensation was 2.43%, up from 2.38% a year earlier. Homes under $500,000: Compensation averaged 2.52%, the highest level since Q3 2023. Homes $500K–$999K: Compensation rose to 2.34%, up from 2.31% a year ago. Homes $1 million+: Compensation ticked up to 2.21%, up slightly from the previous quarter’s record low of 2.19%, but still below the 2.24% seen a year earlier. The report also noted that in June, the U.S. housing market had 500,000 more sellers than buyers, the largest gap since 2013. With so few buyers, sellers are under pressure to offer competitive terms, including higher compensation, to close deals. Why Predictions of a “Race to the Bottom” Fell Flat When the NAR settlement took effect in August 2024, commissions initially dropped to a low 2.36% in the third quarter. Many believed this signaled the start of a downward slide. But as Byron pointed out on The Real Word, those predictions underestimated how consumers actually behave: “If consumers wanted no agent or less agent support…then you’d actually see comp moving down one year later. You’re not seeing that. You’re seeing that consumers value what we do. They seek it out. They prefer it.” Nicole White added her perspective from the buy side when Byron asked what she’d never had the ability to do outside the last 12 months. Her answer: “Negotiate what you’re going to get paid.” Used to be whatever number was being offered on the MLS was the number buyer agents were taking. They might complain, but typically, most agents didn’t ask for more. There were exceptions, though, as Nicole pointed out, describing one agent on her team who’d been in the business for a much shorter time and was asking for more than what was offered. “I was flabbergasted that she was doing it, but she was able to do it because she was showing her value. So she definitely was on the bandwagon before any of this ever came on… If it was being offered, she was asking her clients for more.” The lesson? When agents demonstrate value and outcomes, buyers are often willing to support higher compensation rather than shop for the lowest fee. Local Market Dynamics Redfin’s report also highlighted differences by market: In Austin, TX, most buyer agents now request 3%, up from 2.5%–2.75% before the settlement. In Kansas City, MO, sellers often ask about lowering or eliminating commission, but most still pay close to 3%when buyers request it. In Minneapolis, MN, buyers typically expect a 2.7% commission, though some flexibility has brought negotiated rates down to 2.5% in certain cases. These examples reflect a broader point on the podcast: great agents with higher standards have raised the bar. And consumers are willing to pay more for a better experience, not to mention a better result. What It Means for Agents A year into the “new world” of compensation, and commissions are stabilizing or even rising in many markets. That signals opportunity for agents who can communicate their value and negotiate effectively. Here are three takeaways for real estate professionals: The market rewards value. Agents who show measurable outcomes and provide clear expertise are more likely to secure higher compensation. Negotiation is now standard. With MLS rules changed, conversations around compensation are happening earlier and more directly. Market conditions matter. In buyer-heavy markets, agents may see more pushback. In seller-heavy markets, buyers and their agents often have leverage. As Byron summed it up, “There’s such an opportunity for agents to come in, especially in this new world, and really not only raise the bar but raise their earning opportunity.” Marc Rasmussen Broker/Owner of Corcoran Dwellings Office 941.822.0708
Posted 21 August 2025 | 1:53 pm

Want a Lower Mortgage Rate? Buy New Construction
Are you tired of waiting for lower mortgage rates to buy a home? We recently had a buyer purchase in Sweetwater in Lakewood Ranch. M/I homes "bought down" the buyers mortgage rate to around 4.5%. This rate enticed them to buy now. If you are not familiar with "buying down" the rate. This is a strategy where buyers pay an upfront fee, often called mortgage points or discount points, to lower their monthly payments. Every lender charges a different amount for their buy down rates. Rates will also vary from borrower to borrower based on credit rating, downpayment size and type of loan. As a rule of thumb, a 1% buy down reduces the interest rate by about .25%. Again, this varies by lender. For example, on a $500,000 loan, one point would cost $5,000 and could drop your rate from 6.5% to 6.25%.  This is particularly attractive to home buyers if the builder pays this large up-front cost. Home builders in new communities have a tough time lowering their prices because it upsets previous buyers. So, instead of lowering the home price they will give incentives to home buyers. Builders might give up $30,000 - $50,000 in incentives for today's home buyers.  Sound interesting? Send me a text at 941-800-5000 and we can talk about your real estate needs.  Related Articles: Buydown: Definition, Types, Examples, and Pros & Cons Marc Rasmussen Broker/Owner of Corcoran Dwellings Office 941.822.0708
Posted 19 August 2025 | 6:26 pm

Market Bottom? Warren Buffett Just Made Big Investment in Home Builders
Is the real estate market about to bottom? Warren Buffett's Berkshire Hathaway secret investments have been revealed.  Warren Buffett invested around $1.8 billion in home builders Lennar and D.R. Horton as well as steel manufacturer Nucor. These are companies tied to real assets like housing and infrastructure.  The focus on companies tied to real assets indicates a shift in investment strategy, possibly in response to the current economic climate. Warren Buffett has previously said, "Be fearful when others are greedy, and be greedy when others are fearful." Sounds like he is bullish on real estate.  Time to buy? Related articles: Now we know Warren Buffett's $1.8 billion secret Warren Buffett's Berkshire Hathaway Discloses $1.8 Billion Investments in Nucor, D.R. Horton, and Lennar Warren Buffett’s Berkshire Hathaway invests nearly $800M in homebuilding giant Lennar  Warren Buffett’s company reveals new investments in Nucor, UnitedHealth and two big homebuilders Marc Rasmussen Broker/Owner of Corcoran Dwellings Office 941.822.0708
Posted 18 August 2025 | 5:53 pm

Florida Housing Market Shows Signs of Stabilizing, Says Major Homebuilder
If you have an interest in Florida real estate, then here is an interesting article: Major Homebuilder Sees Surprising Signs of Life in Troubled Florida Housing Market. I like to watch builders because they watch supply and demand closely and often have a good pulse on the market. They tend to be more realistic when it comes to real estate values.  Here are some takeaways from the article: * PulteGroup, the third-largest homebuilder in the nation, said that net new orders in Florida rose 2% last quarter compared with a year earlier. * In recent months, there are signs that Florida’s housing market is getting closer to equilibrium, with inventory stabilizing and price declines slowing. "Florida and its constituent markets are in a period of price decline, but it appears that decline is slowing," says Realtor.com® senior economist Joel Berner. "As inventory growth flattens, prices in Florida look poised to do the same. Prices may not rebound quickly, but their current retreat may be coming to an end." * In June, single-family home sales in Florida ticked up 2.8% compared with a year earlier, the state’s first annual increase since January, according to the Florida Realtors®. Inventory might also be stabilizing after years of rapid expansion. Since April, the supply of homes on the market in Florida has declined for three straight months, reflecting a decrease in new listing activity. * Faced with weaker demand, homebuilders have pulled back on new construction in the Sunshine State. In the first six months of 2025, new permits for single-family homes in Florida totaled 59,699, down 11% compared with a year earlier, according to U.S. Census Bureau data compiled by the National Association of Home Builders. Nationally, single-family permits declined 6%. * Housing policy expert Samuel Staley, the director of the DeVoe L. Moore Center at Florida State University, estimates that Florida needs an additional 100,000 housing units to meet overall demand for housing in the state, a supply gap that has helped drive home prices far out of proportion with local wages. In his view, the structural shortage of homes will prevent home prices from plunging dramatically in Florida anytime soon. “We’re going to continue to see moderation in home prices, and in some areas, see declines. But we’re not going to see prices go back to pre-pandemic levels unless we dramatically increase the supply of housing,” he tells Realtor.com. “I think it’s going to level off at levels that are significantly higher.” Marc Rasmussen Broker/Owner of Corcoran Dwellings Office 941.822.0708
Posted 11 August 2025 | 5:44 pm