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Sarasota, FL Real Estate News

By Marc Rasmussen, Sarasota Real Estate
(DWELL Real Estate)
Two real estate experts went on record last week saying that the worst is over for the Sarasota real estate market. Lawrence Yun, the Managing Director of Quantitative Research at the National Association of REALTORS stated that the current softness in the Southwest Florida real estate markets will only last another 6 to 12 months. "Do not bet against this region," he said. "In the long term, Sarasota will have faster home price growth than the rest of the country." Sean Snaith, director of the University of Central Florida's Institute for Economic Competitiveness, issued a report stating in the opening sentence: "For those with a house on the market, there's good news, the worst is over." I agree with these experts.  The Sarasota real estate market really hit the wall about July of 200...
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By Nicki Conway, Sarasota Fl Real Estate
(RE/MAX Alliance Group)
Yeah, if I seem like I'm speaking through my teeth, it's because it's "Actively Raining" those awful Florida LOVE BUGS here in Sarasota FL.  Today is the worse day.  Went kayaking up to Midnight Pass and the love bugs were as thick as smoke there.  There, we were afraid to open our mouths to talk, so we silently ran over the grassy hump and jumped into the Gulf.  Fortunately, out in the open water, they are not so bad.  At least the things don't bite.  For any of you who've never seen them, they are little black creature with a tiny bit of red on their tip and they are always mating.  Once they mate, they die, so their existence is short lived.  The swarm of love bugs comes to the area twice a year and usually lasts for 1-1/2 to 2 weeks.  Then they're gone till next time.  Besides being...
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By Marc Rasmussen, Sarasota Real Estate
(DWELL Real Estate)
This home in the exclusive neighborhood of Harbor Acres sold recently for $7.3 million. It sets a record for the neighborhood. The 10,500-square-foot mansion features 6 bedrooms, a home theater, an outdoor kitchen and entertainment area, a private dock and postcard-perfect views of Sarasota Bay and the John Ringling Causeway. Unfortunately, I did not represent the buyer or seller in this transaction.  ;-) Is your market more or less expensive?  Sarasota, FL real estate
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By Marc Rasmussen, Sarasota Real Estate
(DWELL Real Estate)
April sales were good in Sarasota. In fact, Sarasota was the only places in Florida where the sales numbers were good. Existing home sales activity were up 16 percent compared with a year earlier. It was the only market in Florida to have a positive sales growth for April. The median sales price for homes dropped by 2 percent. Many view the price erosion started in the summer of 2005 may be finally leveling off and bottoming out. We have been in this down slide for nearly 2 years now. According to the Sarasota Herald Tribune in Sarasota-Bradenton 796 existing homes sold last month compared with 685 homes sold a year ago for a 16 percent increase. The market's median sales price for homes was $294,800; it was $302,100 in April 2006 for a 2 percent decrease. A total of 333 existing condos...
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By Marc Rasmussen, Sarasota Real Estate
(DWELL Real Estate)
On May 18th, 2007 SKY Sotheby's International Realty and J.P. King teamed up to sell a portfolio of luxury properties via auction. The auction was held at the Ritz Carlton in downtown Sarasota, Florida. Over 300 people attended the exciting event which was the areas largest luxury home portfolio auction ever presented in a single swoop. The largest transaction in the auction was a mansion in Lakewood Ranch. The 14 acre, 7 bedroom, 11,000 square foot home with a 22 stall barn sold for $6,000,000. The buyers also had to pay a 15% buyer premium so the buyer actually paid $6.9 million. Typically, properties will sell before, at and after the auction. The president of SKY Sotheby's International Realty predicts that ultimately a total of about $32 million dollars of property will have sold. ...
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By Marc Rasmussen, Sarasota Real Estate
(DWELL Real Estate)
Hank Fishkind, one of Florida's most watched economist, predicted that the residential housing market in Sarasota will rebound in 2008 and 2009.  Fishkind spoke at the Lakewood Ranch Country Club recently to Realtors, builders, lenders and other industry experts. Fishkind predicted that Sarasota will burn off excess inventory this year, and that sales will improve in 2008 and 2009. This prediction seems logical to me. Home prices in the Sarasota area have dropped roughly 20% to late 2004 levels, interest rates remain to be low, property taxes and insurance relief will hopefully happen in 2007. If Florida's property taxes and insurance rates drop Sarasota homes will become much more affordable. This should buoy the market. Properties that show well, are marketed well and priced well stan...
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By Marc Rasmussen, Sarasota Real Estate
(DWELL Real Estate)
I just sold this lovely 3 bedroom, 3 bathrooms home in Sarasota, Florida. This Bent Tree home has 3209 square feet and sits on a large lake and has almost an acre.  A young family with 2 small children purchased the home. The home was dated and in need of some updating. The new owners plan on renovating the home. Bent Tree Woodlands I is a very desirable family neighborhood in east Sarasota. It is a gated community with grand home sites and large lakes throughout the community. Prices in the neighborhood start at $400,000 and go up to about $1,500,000. If you are looking to buy or sell a home in Sarasota give me a call at 941-812-6272.
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By diana Kryszak
(Michael Saunders & Company)
Today is Friday, the first day of the 2007 Memorial Day Holiday.  The traffic on Ringling Blvd is picking up and parking spaces are getting to be a premium on St Armands Circle.  The bay is a brilliant turqouis, the breeze is picking up and windsurfers are making their appearance.  Stonecrab season is over, but blue crabs are plentiful!  Foot traffic is picking up and there are more and more visitors seriously looking at this marvelous community. Business for Michael Saunders and Company is up and we see continued growth as snowbirds and retirees look for a home in paradise, also known as the Gulf Coast and Sarasota and the barrier islands.  As of today there are 46 homes listed for sale on Lido Key.  While most are new construction or significant remodels, there are a few opportunities...
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By Nicki Conway, Sarasota Fl Real Estate
(RE/MAX Alliance Group)
One of the greatest things about Sarasota is it's cultural atmosphere.  Theatre is one of my passions and Sarasota has such a bountiful offering of live theatre.  I was in a play a couple of years back...no, I'm not an actress, but I wanted to try the whole experience and be a part of the theatre.  It was always a dream of mine.  What I found most interesting, is that the actors and actresses spend such a huge amount of time together, praciticing, blocking, memorizing lines, etc. that they really do become a family.  I understand that now completely.  I ended up doing pretty well.  I played Mrs. Boyle in "The Mousetrap" and felt I gave her a pretty good representation.  You know, part of being a good Real Estate Agent, is understanding and appreciating different personality types.  I fe...
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By Axel Weiss, Sea to Sky Realty
(Bradenton Realtor and Sarasota Homes for Sale)
Sarasota liegt an der Westküste Floridas und ist ein äußerst beliebtes Reiseziel der Deutschen.Nicht zuletzt das umfangreiche kulturelle Angebot unterscheidet Sarasota von anderen Gegenden. Sarasota ist das kulturelle Zentrum in Florida. Hier gibt es sehr viele Theater, in denen man Bühnenstücke, Ballett oder Musicals genießen kann. Hinzu kommen zahlreiche Galerien und Museen, wie beispielsweise das Ringling Museum mit bedeutenden Werken von Rubens und anderen bekannten Künstlern. Darüber hinaus gibt es selbstverständlich die schönsten Strände Floridas, an denen man wunderbar baden oder ausführliche Strandspaziergänge machen kann. Die vielen Möglichkeiten zum Wassersport -  wie zum Beispiel Bootsausflüge, Fischen, Parasailing, Kanu oder Kajak fahren - machen die Gegend auch zum Paradies...
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By Gary Brey
(AKELA REALTY INC)
Sarasota is probably best known for its wonderful climate and glorious beaches.  Both make the city a great place to live, a fact that is not lost on baby boomers making their move to Sarasota homes.  Their attraction to Sarasota real estate is certainly understandable.  Among the reasons: spectacular sunrises and sunsets over pristine beaches, year-round warmth, and abundant sunshine. Sunny and MildLife in Sarasota is filled with sun-drenched days.  Mild temperatures are in no short supply either. Even the winter months rarely see lows less than 50 degrees.  And that combination of blue skies and warmth coaxes residents out of their Sarasota homes all year long to enjoy recreational activities.There are a lot of outdoor pastimes to choose from.  Make a day out of water sports.  Serve u...
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By Gary Brey
(AKELA REALTY INC)
Maybe it is time for a new approach to taxing real estate and still keep necessary funds coming into local government. Necessary is the operative word.What is necessary?How much money do we really need to operate the county? I think it is a lot less than we spend now. By the way, where is the budget? Is it printed for examination? I need to look into these things.Ok, ask yourself, should voters have more of a say in certain county expenditures - like purchasing land for one thing or funding public enterprise like the Van Weezel. Do we need to buy land as a public body which is not intended to be used for public service? I don't think so.Should certain services like trash pick-up be turned completely over to private enterprise including the billing? If I am gone for awhile, why should I ...
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By Gary Brey
(AKELA REALTY INC)
Are you interested in claiming a piece of the Sarasota real estate market? Do Sarasota homes interest you? Well, you have good reason to focus on Sarasota, Florida, despite the misleading numbers that might be given to you about the Sarasota real estate market right now. Here is a guide to the general trends of the industry so you can better understand what's going on.The whole country has seen a boom and small bust in the real estate industry. After an impressive year of sales, revenue has now (in 2006) declined and home construction has dropped off as well. But this downward trend is a relatively small one (in most regions) and is really indicative of a new, promising stability. Moreover, it may inspire more buyers to come to the table.Florida, while a member of the region that has do...
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By Ray Higdon
(Forever Wealth Club)
CASHFLOW! - 22 units in Sarasota! These are 11 duplexes, 21 units are 2/1's and one is a 3/1. The rents have not been kept in line with the market so they vary greatly. Each duplex is between 1200 and 1400 square feet. A super wal-mart has just agreed to build less than .7 miles from here so this has the potential to turn into commercial. These sit on approximately 2 acres. All units are concrete block and tiled throughout. Half of these are on HUD but have not been updated. HUD now pays $824 a month for 2/1's and $1024 for 3/1's in this area and there is a waiting list. The currents rents vary from the lowest of $585 to the highest 2/1 at $785, however, these are in the process of being bumped up by Section8 (HUD). You can buy one duplex or all 11. Comparables are hard to find but we f...
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By Louann Nudi
(TOVIJE Enterprises, Inc.)
Fractional Ownership has come to our area!  Seems like our undiscovered coastline is growing up or at least Anna Maria Island is!  The De Soto Grande on Anna Maria Island is offering 8 waterfront fractional ownership residences ranging in price from $196,000 to $215,000.  The company developing the property has plans for another on Lido Key.  Seems they have done their research and are banking on its success!According to Nichole L. Reber, a news correspondent for the Herald Tribune, "each unit has 3 bedrooms and 2 baths and views of the village of Anna Maria and/or the water (either the gulf or the bay).  The price guarantees four weeks' use of the luxury condominium, though owners have the option of purchasing more time." Fractional ownership began with planes and yachts and has now mo...
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By Shannon Moore, Realtor, Sarasota & Charlotte
(Green Lion Realty)
Our local newspaper, The Sarasota Herald-Tribune, is running a great series on "Moving Houses." The first one ran Friday, and it is a continuing series about different strategies Realtors can use to move homes.   If you'd like to read the first one and follow the others, here's the link:   http://www.heraldtribune.com/apps/pbcs.dll/article?AID=/20060804/PHOTOS02/60804011   The first article was on staging homes. I think you may enjoy it if it is not in your local paper.   Roxanne
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