$400K mortgage with a 7% fixed rate, the monthly payment on a 15-year loan is $3,595. The payment on a 30-year loan, by comparison, is $2,661. Just keep in mind that neither amount factors in the cost of insurance or property taxes, which will both be included in your monthly payment. There are a very few jobs in Sarasota that pay enough to afford 400k homes

@ZachPayneSarasotaRealEstate

2 ай бұрын

Correct. Most of my clients as well as the people moving to Sarasota fit 1 of 2 demographics. 1. They are moving here from a more expensive state ie. Boston, New York, or California where the real estate prices are much higher than they are here. They may be able to put down more than the standard 20%. Heck, 44.5% of single family homes are payed for in CASH. On that same note people who work remotely but are still getting paid wages for the state they are moving from are happy to pay the $2,661/mo or however much to live in a state where they don’t have to shovel snow, scrape ice, or not see sunlight for 3-4 months out of the year. The 2nd demographic is a retiree. These people are on a fixed income but are downsizing from a “typically” larger more expensive home. And again are able and willing to put a larger down payment down to lower a monthly mortgage. Again the point of this video is to show people where the affordable areas of Sarasota are going to be.

@adfreeviewer9005

2 ай бұрын

Most of Floridians are prices out. Out of state buyers are the only ones who can afford these insane prices.

You really know what you are doing man, I’m sure you know that! I love Sarasota, my only destination for vacation and I do plan to buy a house there at some point, but there are a lot of unknowns that I need to learn. Thank you so much for amazing info!

Awesome video Zach! Keep it up!

@ZachPayneSarasotaRealEstate

2 ай бұрын

Thank you!!

Thank you ❤ I love all your videos. I want to move to Sarasota soon

@ZachPayneSarasotaRealEstate

2 ай бұрын

Thank you! Give me a call when you’re ready to move down. I’d love to help you! 941-444-1245

I grew up in Lake Sarasota, i remember when it was dirt roads in the 90s. no one who lived there when I was there Can afford to buy there now, including myself and I'm an Engineer. It has great schools and no HoA so the prices are nuts.

It’s only affordable is you have money lol

@ZachPayneSarasotaRealEstate

2 ай бұрын

In today’s real estate market this is some of the most affordable real estate options in all of Sarasota.