Sarasota Real Estate News Blog

Sarasota Real Estate Sales Continue Strong Pace

2009-11-19T08:26:00.002-05:00

Sarasota Real Estate Sales Continue Strong Pace

Press release with data on the sales in the Sarasota real estate market for October 2009. Sales were up again.

Downtown Sarasota Bayfront Scenes

2009-11-08T17:36:00.004-05:00

If you were in Sarasota, Florida today, you know how wonderful the weather was -- residents and visitors of Sarasota were out enjoying the cool balmy day. The downtown Sarasota bayfront was active with walkers, bikers, fishermen, boaters, wildlife, new scuptures and waverunners. Enjoy our great day!

What a perfect way to spend a perfect day!

Great News for Sarasota Real Estate

2009-11-05T15:38:00.002-05:00

The U.S. House of Representatives has just voted (403-12) to extend and expand the first time-homebuyer tax credit. President Obama is expected to sign the Bill tomorrow. All changes to the Bill become effective when he signs the Bill.

Sarasota real estate should continue its uptick with this good news for first time homebuyers.

If you are looking for your first home in Sarasota, give us a call.

10th Annual Morton's Fire House Chili Cookoff

2009-11-03T13:15:00.008-05:00

What a great event! Sunday afternoon in Sarasota was beautiful. The 10th Annual Morton's Fire House Chili Cookoff was a hit with adults, children and babies! The band was fabulous and played music spanding many generations even adding a little Elvis for some of the older crowd. About 12 fire houses participated with ample chili for all. The beer truck was busy constantly and the dunking tank along with other fun games were a real hit.

Make plans to attend next year's event if you missed the cookoff. Visit with your neighbors and join in and get involved in a great Sarasota charity event.

Take a Sarasota Real Estate Trolley Tour

2009-10-23T06:11:00.005-05:00

There's a new way to view Sarasota real estate! Contact Chris Moon of Allen Real Estate Services, Inc. at 941-586-0722 to get on the next Sarasota homes for sale Trolley Tour. You can get all the info on this tour by visiting their website at HomeTrolleyTours.com or call Chris to book your appointment.

The next tour on Saturday, November 7, 2009 visits six homes for sale in quaint neighborhoods. Hop aboard the trolley at Morton's Gourmet Market in Southside Village and relax from 9:30 am - 11:30 am while you choose your dream home. Morton's is located at 1924 Osprey Avenue in Sarasota's West of the Trail neighborhood close to Sarasota Memorial Hospital.

If you need additional information on Sarasota real estate, contact Annette Smith at 941-504-3922. Otherwise, sit back and enjoy the ride!

Sarasota Real Estate Mortgage Rates Below 5%

2009-10-14T08:07:00.004-05:00

For the first time in four months, Sarasota real estate mortgage rates dropped below 5% Freddie Mac said on October 2. Although still above the lowest rates for 2009, the average rate for a 30 year mortgage was 4.94%. The week ending May 28 saw the lowest rates thus far.

Signed contracts are up for the 7th straight month according to the National Association of Realtors indicating more positive news for the Sarasota real estate market. Freddie Mac’s economist point out that these low interest rates are helping to “stabilize homes sales.”

Buyers may want to consider purchasing a Sarasota home now as the Federal Reserve announced last week that they are slowing down a program to reduce mortgage rates. Rates, according to analysts, will probably remain low for awhile but will certainly see a move upward eventually.

If you think now is the time to purchase one of the Sarasota Florida homes for sale, give our Sarasota real estate team a call for the most professional services available in this market.

Best Places to Buy a Home - Sarasota, Florida No. 1

2009-10-07T05:13:00.005-05:00

Did you see Barbara Corcoran on the Today Show yesterday? Ms. Corcoran, real estate correspondent for the Today Show told Al Roker in an interview that Sarasota Florida is “the number one place to buy a home today!” Citing "the beaches, warm weather, the culture, the homes and the people," Ms. Corcoran said prices have stabilized in Sarasota after a huge drop and are on the way back up.

For the entire Today Show interview, see video below.

Visit msnbc.com for Breaking News, World News, and News about the Economy

If you are searching for a Sarasota homes for sale, contact us for information or to make an appointment to view Sarasota real estate.

Sarasota Homes for Sale Update

2009-09-23T11:36:00.004-05:00

Sarasota homes for sale have long been popular with buyers from across the United States. Many of the current buyers have been vacationing and visiting the Sarasota area for decades. With newsy lists like Dr. Beach 10 Best Beaches in America, Siesta Key Beach moved up a notch to the number 2 spot, and once again Sarasota real estate is on everyone’s real estate radar. In fact, US News and World Reports named Sarasota to its Top 10 Most Unervalued Places to Live list.

Out of state buyers often purchase maintenance free condos where they can walk away and lock their door until they return. Lately new companies offering landscaping, home watch and pool services are creating an interest in single family homes.

Inventory of single family homes for sale in Sarasota is up and prices after a large correction are now ranging from low $100,000s to $15 million for some luxurious waterfront estates. Barrier island homes for sale on canals or open bay offering swimming pools and boat docks have dropped in price significantly bringing in worldwide buyers who have been watching the Sarasota market.

Barrier Island Real Estate

Casey Key Homes for Sale
· Active Listings: 49
· Pending Listings : 1
· Sales in the Last 6 Months: 5

Siesta Key Homes for Sale
· Active Listings: 212
· Pending Listings: 44
· Sales in the Last 6 Months: 74

Bird Key Homes for Sale
· Active Listings: 38
· Pending Listings: 44
· Sales in the Last 6 Months: 18

Longboat Key Homes for Sale
· Active Listings: 78
· Pending Listings: 12
· Sales in the Last 6 Months: 19

For more information on Bird Key real estate, Siesta Key homes, Casey Key estate or Longboat Key homes and condos contact me at 941-544-6467 or search our main website for all Sarasota homes for sale, lender and title referrals, as well as insurance and tax contacts. We provide the resources to make your Sarasota Florida lifestyle choice close smoothly.

Sarasota Real Estate News Update

2009-09-04T05:42:00.008-05:00

Sarasota real estate news continues to hit the web. In May when Dr. Beach, added Siesta Key beach to the 10 Best Beaches in America list, we noticed articles appearing in US News and World Report, several personal Sarasota real estate blogs and just yesterday the New York Times. Read entire article here.

Summer real estate showings were brisk this year when we are usually taking a break. The barrier islands of Sarasota get the most attention as we are getting calls for Siesta Key condos, Lido Key and Longboat Key condos too. Mainland Sarasota homes are on the move too!

Summer Activity on the Barrier Islands

Siesta Key Real Estate

Active Single Family Homes: 209
Active Condos, Town Houses & Villas: 406
Current Pendng Sales: 85
Sold Last Six Months: 194

Lido Key Real Estate & St Armands

Active Single Family Homes: 50
Current Pendng Sales: 4
Sold Last Six Months: 45

Longboat Key Real Estate

Active Single Family Homes: 153
Active Condos, Town Houses & Villas: 415
Current Pendng Sales: 67
Sold Last Six Months: 175

Casey Key Real Estate

Active Single Family Homes: 48
Current Homes Under Contract: 1
Homes Sold Last Six Months: 3

These stats come from the Sarasota MLS. Results are not guaranteed as many listing agents add same listing to multiple categories: single family home, condos, townhouse, villa. Condos for the purpose of this post include fractional ownership and time share complexes.

If you have been reading articles on Siesta Key and Sarasota real estate lately and would like more information, give us at call. Sarasota is our full-time home and a Paradise just waiting for you to discover. Barrier island real estate is getting a nationwide look as prices have corrected considerable from the peak of the Sarasota real estate boom.

MGM City Center Expected to Reduce Prices

2009-08-26T23:24:00.003-05:00

MGM CityCenter, MGM Mirage’s 8.5 billion dollar showcase property in the heart of the Las Vegas Strip, announced earlier this month that it was likely they would be adjusting the prices downward on the three residential developments in the mixed use project: Veer, Vdara and The Mandarin Oriental. Reductions are being considered in the wake of the world’s economic recession and the local Las Vegas real estate market depreciation of up to50% on residential properties.

MGM opened sales at the CityCenter in January 2007, when the Las Vegas real estate market was red hot. Original purchasers have been seeking price reductions on the condominiums and condo hotel units they purchased two years ago, during the height of the Las Vegas boom.
According to Bob Hamrick, CityCenter’s Sales Manager, “CityCenter remains a unique product that can’t be touched by anything else in Las Vegas. But there are some realities we recognize, and we have to respond.” Any announced price reductions would be offered to original contract holders and to buyers purchasing between now and when the official price reductions are announced in early September of 2009. Rumors are flying that reductions could be anywhere between 20% and 40%.

MGM is also trying to find sources of private financing to help buyers close on their condos. With tighter federal guidelines and banks struggling under a glut of foreclosures, high rise and condo hotel loan programs from Las Vegas mortgage lenders have all but vanished, The few that remain are requiring 50% to 60% down payments and higher interest rates. The Mandarin Hotel is expected to start closing on luxury residential units in December of 2009. Units at Veer, the twin residential towers fronting the CityCenter complex, are expected to begin closing in January of 2010, and condo hotel units at Vdara are expected begin closing if February of 2009.

The next big question is not only how much of a reduction will be offered to MGM CityCenter buyers, but also how the reductions will affect the future of the Cosmopolitan Hotel and Casino next door. The Cosmopolitan, a condo hotel and hotel casino project, was taken over through foreclosure by Deutsche Bank last year, and sales were suspended. There are almost 2,000 current contract holders in the Cosmopolitan that are waiting to hear if the project will move forward with the proposed condo hotel program, or if the contracts will be voided and the units absorbed into the hotel room inventory. Sales in the Cosmopolitan commenced on February 14th in 2005, with over 900 units being reserved the first day in a record breaking frenzy.

Elsewhere on the Las Vegas Strip, real estate investors are snapping up units at fire sale prices in the beleaguered MGM Signature project. Owners of condo hotel units that originally sold from $400k to over $1M have become part of the Las Vegas foreclosures statistics due to high mortgage payments, declining values, and rental incomes below expectations. Current purchasers are taking advantage of prices starting in the mid $100s, or 33 cents on the dollar. Trump Tower is experiencing the same hardship, and there are some real bargains to be had on resale units. The Palms Place luxury condo hotel units, on the other hand, have fared much better due to high occupancy rates in the popular boutique venue. And in general, Las Vegas homes for sale inventories are way down from the same time last year as first time buyers and investors are drawn back into the market by affordable pricing.

Sarasota Real Estate Undervalued

2009-08-01T07:00:00.005-05:00

Sarasota Florida Real Estate Undervalued

Pending sales info for last few months was excellent. Buyers seem to be shopping what they finally feel is the bottom of the Florida real estate market. On July 16, US News and World report mentioned that Sarasota real estate was undervalued in a post on the Internet. Could that be why our phones are ringing and email requests are way up or could it be that Siesta Key was named the No. 2 beach in America on Dr. Beach's latest beach report? Whatever the reason, we're happy to be busy and help customers with their Sarasota real estate goals. Read US News article here.

US News says "after home prices plunged 44 percent from the first quarter of 2006 to the first quarter of 2009, the market presents would-be buyers with some attractive opportunities."

Sarasota is a tropical paradise offering an elegant laid-back lifestyle. The community provides its residents with cultural venues and outstanding waterfront real estate. Residents are proud to call Sarasota home.

The Sarasota MLS is a great source for searching for Sarasota homes, condos, villas or land. If you would like to send us your parameters, we're happy to do the searching for you. Contact Annette at 941-504-3922 or send an email for a prompt reply regarding your Sarasota FL real estate needs.

Big Sugar - West of the Trail Restaurant

2009-07-30T07:07:00.003-05:00

Sandy Whitehead and I have talked about going to Big Sugar for months. We usually eat at Knick's Tavern, our favorite West of the Trail restaurant, about 3 times per week. Sandy and I catch up on our real estate business after very busy days and enjoy visiting with the locals as well as the friendly staff at Knick's. Last night we had a delightful evening at Big Sugar.

Both Sandy and I had the chopped Caesar salad. I opted to add chicken on mine. Big Sugar's presentation is just beautiful. The Caesar salad's arrived on square glass plates with tiny frosty crystals embedded in the glass. Sandy had beef spring rolls that were too spicy for her but not for me -- delicious!

The restaurant staff was friendly, accomodating and gracious to us. We plan to return soon. We heard a rumor that the chef/owner used to be at the Table on Hillview -- we've missed that salad and happy to know it's now available at Big Sugar.

If you are looking for a restaurant West of the Trail where you can mingle with the locals, try Big Sugar. You won't be disappointed. Looking for a West of the Trail homes for sale in Sarasota? Call Annette Smith for listing information or to schedule an appointment. Send an email. We answer promptly!

Lunch on the Water at Bert’s Bar & Grill Matlacha, FL

2009-06-30T13:26:00.009-05:00

Melanie Wright called on Thursday and suggested that we go on an adventure to Pine Island. We made the Pine Island trip right after Hurricane Charley and both of us wanted to see the progress the island has made since that devastating hit. Approaching the island on Pine Island Road from I-75, we couldn’t believe all the new strip malls, fitness facilities, professional buildings and new restaurants like Carrabba’s, Outback and Bob Evans.

New is definitely not Pine Island! We stopped at Bert’s Bar & Grill, as we did in 2004 and were taken back in time. Matlacha is one of Florida’s old fishing towns that hasn’t disappeared. You’ll see “cozy cottages, bed & breakfasts, fishermen tending to their nets, bait shops, shrimp boats.” My camera was busy recording the sights and scenes of this coastal wonder.

Two buildings house Bert’s Bar. In the 1930s, the original building was a “sweet shoppe.” This building sits very near the main road. Arrive early to maneuver your car into a spot at this popular restaurant. In 1941, the “hotel” building was built at Bert’s. World War II soldiers used to be the main customers of Bert’s in the war years.

After the war, the bar was known as “Mother’s” and later became “Harry’s Barge Inn. In the 1970s, another name took over: Tri Dill Inn.

Bert Clubb purchased the bar later and as a famous Lee County bar operator, Bert’s became the “bar of choice” for locals. A long-time employee purchased the bar from Bert many years later and sold the bar again in 2000.

Melanie and I feasted on poppers, a shrimp basket with homemade fries and grouper basket while sipping some suds. Oh and we had some fabulous “wings” too. We listened to locals chatting who knew each other, a fisherman describing his morning catch and a couple came by boat planning their 4th of July celebration. Quite a cast of characters: all charming!

In 2006 & 2007 the Pine Island Eagle voted Bert’s Best Bar & Best Burger. For more on Bert’s history and to get directions for a day trip to Pine Island, visit http://www.bertsbar.com/. Bert’s is approximately 2 hours from Sarasota. You can arrive by car or by boat!

After lunch, we continued our Pine Island adventure.

Contact Annette Smith for Sarasota Florida area information or if you are planning on purchasing property in Sarasota.

Pets Permitted at Longboat Key Condos

2009-06-21T05:44:00.008-05:00

If you are searching for a pet friendly community on Longboat Key, be sure to check with your Sarasota real estate agent. All condominiums have different rules. Snuffy Smith, Sarasota's famous pooch, is making a list with his Realtor on Longboat Key. Snuffy wants to be able to visit friends and customers without any trouble with a Home Owners Association.

So far Snuffy's list includes pet friendly environments at these popular condos on Longboat Key:

Gulf Side: Longboat Terrace, Sunset Beach, Longbeach Condo, Longboat Beach House, Cedars West of Longboat, Salty Acres Condo, La Playa, Island West

Bay Side: Fairway Bay Phase 1, Fairway Bay Phase 2, Buttonwood Cove, Harbour Villa Club, Grand Bay

Seaplace is a condo on Longboat Key that does not allow pets. With 25 Sarasota MLS listings reported, Seaplace has a great selection of condos in inventory but not if you want to bring your doggie. Prices range from $324,900 to $799,000 for two bedrooms and two baths.

Seaplace amenities include an active clubhouse, workout room, two heated swimming pools and party room in addition to Longboat Key Beach.

Residents and visitors enjoy magnificent banyan trees on the property as well as gorgeous lush tropical landscaping.

Don't get your heart set on a condo like Seaplace and suddenly tell your Realtor in Sarasota that you need a pet friendly complex. Snuffy's wants to visit his friends and follow the rules.

Contact Annette Smith at 941-504-3922 to view condos for sale at Seaplace. Annette shows condos on Longboat Key including Beachplace, Water Club and Beaches.

Sarasota Florida Follows Roundabout Craze

2009-05-22T06:33:00.005-05:00

The Herald Tribune reports this morning that Sarasota Florida is following Asheville, North Carolina and Carmel Indiana as well as other cities in the roundabout craze that has hit the United States. I'll be taking on the Asheville roundabouts when I visit family there in July.

My first experience with roundabouts was about 20 years ago visiting friends in Hilton Head. It took me awhile to get use to them, but now that I understand the lanes, I like the roundabouts. In 1996, I spent a little time in France and went in circles several times in the middle of nowhere trying to go the correct direction. Rome was really quite a challenge too. Fortunately, I wasn't driving, and we made it to St. Peters and back to the Spanish steps unscathed.

Work on a Five Points roundabout in Sarasota begins this summer. I'm sure some will be against this project, but I think it will be a beautiful asset to an already beautiful city.

If you are searching the Sarasota MLS for properties and need some help, give Annette Smith a call at 941-504-3922 or send an email for a quick response.

Mother's Day at Selby Gardens in Sarasota, FL

2009-05-11T06:03:00.011-05:00

Old and young alike enjoyed Mother's Day at Selby Gardens in Sarasota, Florida yesterday. Betsy de Manio of Coldwell Banker invited me to join her along with Elizabeth and Elliott Rose for a fun afternoon. We enjoyed the concert under the banyan trees at Selby. What fun!! The Venturas delighted the crowd with their repertoire of wonderful oldies.

Bunch was served at 11:00 am, and the Venturas performed from 1:00 pm. - 3:00 pm. The crowd gathered under the banyans sitting in folding chairs and sipped ice tea, wine and beer to upbeat tunes. Renditions of music made famous by Dean Martin, Ella Fitzgerald, Billie Holiday and others were repeatedly applauded. Children climbed in the banyan trees as the audience clapped, toe tapped and finger snapped to the lively rhythms.

At the far end of the lawn, dancers hid behind trees to jive to Chuck Berry while a delightful couple entertained the crowd with their own rendition of the swing.

Two very young dancers met for the first time under the banyan trees at Selby Gardens yesterday. Maybe we saw future contenders for "Dancing with the Stars."

The Mother's Day performance at Selby Gardens was the last concert performance this season. If you haven't been to the Gardens lately, it's a must if you're visiting Sarasota.

For Sarasota real estate information, contact Annette Smith at 941-504-3922. You can catch the Venturas on Wednesday evenings at the Ritz Carlton or Thursday at Madison's on Main Street in Sarasota.

Sarasota Waterfront Condos on Sarasota Bay

2009-05-09T16:31:00.004-05:00

Condos such as Essex House, Regency House, Sarabande and Tessera all have prestigious street addresses at Gulfstream Avenue and Palm Avenue. Incredible views from these Bayfront Sarasota condos command a higher price than a city view. Residents enjoy multiple amenities and are part of an urban lifestyle dreamed about by real estate web surfers.

Palm Avenue is home to restaurants, specialty shops and art galleries. Sarasota’s Main Street is a short walk away. Residents can easily take in a show at cultural events, all within a short drive too.

Gulfstream Avenue faces Sarasota Bay and Marina Jack’s. Many condominiums in this downtown area have views of the Marina as well as Sarasota’s Bayfront Park. Walk around the park and stop at the dancing dolphin fountain and make a wish – a new downtown Sarasota condo!

Daily the downtown Bayfront Park is bustling with condo owners from the Essex House, Regency House, Sarabande and Tessera. Condominium owners enjoy walk, visiting with their neighbors and shopping in downtown Sarasota. Sunsets from balconies facing West are sensational.

Active Listings Sarasota Bayfront Condos

Essex House: 3 Lowest Price: $374,900
Regency House: 3 Lowest Price: $544,000
Tessera: 3 Lowest Price: $933,000
Sarabande: 3 Lowest Price: $1,495,000

If you are searching for a waterfront condo in Sarasota, contact Annette Smith at 941-504-3922 to schedule an appointment. Other downtown waterfront properties can be found on Golden Gate Point. Condos such as La Bellasara and Grande Riviera have outstanding waterfront views.

Sarasota Neighborhoods - 14th Annual Giving Hunger the Blues

2009-04-19T07:09:00.006-05:00

Love the Blues?

Last year in April I was in Mississippi at the Juke Joint Festival with my Mississippi Maes. My childhood friend, Francine Luckett's husband Bill owns Ground Zerio blues club with Morgan Freeman, and we were dancing on tables. This year I don't have to go so far to hear the "blues" since the 14th Annual Giving Hunger the Blues is from 12:00 pm to 8:00 pm today in Southside Village on Hillview. All proceeds from this Sarasota Florida event will go to All Faiths Food Bank and PAL Sailor Circus. No table dancing for me but the street will be perfect!

Support your community and enjoy local musicians, area restaurants, and beverage vendors. Children will delight in the games, martial arts and dance demos. Okay, grownups will enjoy the games and performances too! For a list of performers or more information: www.5oclock.net.

Subscribe to our blog or read about Sarasota community events on visit our main website. If you are searching for the perfect Sarasota home and need to check out Sarasota neighborhoods, we show properties daily on mainland Sarasota and the barrier islands of Siesta Key, Casey Key, Bird Key, Lido Key and Longboat Key, Florida.

St. Armands Real Estate - Sarasota, Florida

2009-04-06T07:36:00.006-05:00

Real estate on St. Armands Circle is “hot.” Buyers from Europe are entering the market and scooping up some great buys. What a great location! The beach is two or three minutes from your home. You can walk to the Circle for a cup of morning coffee, go back for a swim in your pool and wander to lunch at a quaint café. Take a nap on the beach and then a quick shower before cocktails and dinner in downtown Sarasota after you’ve been to the opera. Sounds like a fairytale: it’s all here in Sarasota, Florida!

Some great streets to scope on St. Armands are: McKinley, Polk, Adams and Morningside. The Sarasota MLS currently reports homes for sale in the St. Armands and Lido areas in the $500,000s on these streets. We searched over 25 homes today priced from $575,000 to $11,300,000.

*St Armands Homes for Sale

Lowest Priced Home: $575,000
Highest Priced Home: $11,300,000
Average List Price: $2,768,433
Median List Price: $2,275,000

Drive around the Circle, park at Lido Beach and call Annette Smith for your St. Armands real estate needs. We show homes and condos on St. Armands and Lido Key regularly and are ready to assist you in the purchase of your Sarasota real estate. Call Annette at 941-504-3922 for a prompt reply.

*Pulled from Sarasota MLS data in Lido C, Lido Beach and St. Armands Subdivisions. We search Sarasota Florida real estate daily.

Sarasota Real Estate Market

2009-03-28T10:55:00.005-05:00

Good morning from the sunny Sarasota real estate market. I took a drive over to Longboat Key early this morning to check on a condo for some owners and noticed lively activity on the downtown Bayfront as well as St. Armands Circle. I've been telling our blog readers for a few months now that our web traffic is up, as well as showings -- traffic in the area is up too!

Surfing the web this morning even Yahoo Finance pointed out that some real estate markets are heating up. Good things are starting to surface about the Sarasota real estate market:

it's a great time to buy: Interest rates are at historic lows, with high inventory levels, there's lots of choice, and prices are down.

Read entire Yahoo Finance story. Sarasota is no. 4 in overall cities searched for real estate.

If you're on the fence and think now is the time to jump off and into our Sarasota real estate market, give us a call to show you homes and condos in one of South West Florida's most beautiful markets. Sarasota offers its residents sunshine, warm weather, beaches, waterfront activities and cultural venues similar to larger cities.

Sarasota Golf Course Homes Priced From $500,000-$700,000

2009-03-24T05:59:00.007-05:00

Sarasota Golf Course Homes Available In Your Price Range

Real estate prices in Florida have dropped considerably in the last three years, and if you've been thinking of retiring to South West Florida, you may be pleasantly surprised at what golf course homes in Sarasota are available in country club communities between $500,000 and $700,000. Gated communities such as University Park, Laurel Oak Estates, the Oaks, and Prestancia offer outstanding community amenities as well as golf. Lakewood Ranch is another option -- a complete master planned community with dining, shopping on its Main Street and an active country club.

Some of the single family homes in University Park currently listed in the Sarasota MLS between $500,000 and $700,000 include a 2256 sq.ft. home built in 1995 to a home with over 2900 sq.ft. on a golf course/lake lot. In Laurel Oak Estates, buyers will find only 12 listings priced between $500,000 and $700,000. World-class golf, tennis and and a recently renovated Club House are some of the amenities available in this outstanding community located East of I-75.

Homes in the prestigious gated Oaks country club community, shown in Sarasota MLS data, that might be of interest include a 2600 sq.ft home with 3 bedrooms, 2 baths offered at $521,200 and a Oaks Preserve home built in 2001 that is listed at $699,000 for over 3,800 sq.ft. Check with a Realtor in Sarasota for an appointment to view any of these homes.

If you are looking for a Sarasota golf course home, all of these communities are worth checking out and Annette Smith is experienced in Sarasota country club real estate sales and is ready to assist you in finding the perfect golf course home. Email Annette for a list of luxury Sarasota real estate available if South West Florida is your choice.

Sarasota Real Estate Stats Out for February 2009

2009-03-23T14:55:00.005-05:00

The following press release was sent to local media today by the Mid-Florida Regional MLS. This is good news for the Sarasota area as buyers are definitely coming to view properties at great prices!!!!

Pending sales rise to highest level in three years in February 2009
Pending sales in the Sarasota real estate market once again rose in February 2009, hitting 782 - the highest level since April 2006, a three year period. According to statistics from the Mid-Florida Regional MLS for members of the Sarasota Association of Realtors®, 611 single family homes and 171 condominiums were reported under contract in February, almost 100 more than the 683 pending sales reported in January 2009, and 19 percent higher than the 654 pendings reported in February 2008.
Pending sales have now exceeded the 500 level for the 14th consecutive month, and the statistic bodes well for the next two or three months, when many of these pendings will become closed sales. Pending sales reflect contracts executed by buyers and sellers. The report continues to reflect a steady, strong pattern, and indicates buyers are more active in the Sarasota market even in the face of difficult economic times.
"We are encouraged by this statistic, and the word of mouth reports indicating an uptick in showings and offers," said 2009 SAR President Bill Geller. "Buyers are becoming even more aware of the many opportunities in the Sarasota market and are making offers and executing contracts. Local Realtors® are continuing to educate the public on our market, and this excellent chance to purchase a great home at a very attractive price, with interest rates at historic lows."
Overall, there were 354 sales closed in February, compared to 319 in January, for a 10 percent increase. The figure was lower than February 2008, when 418 properties changed hands. The breakdown was 260 single family homes sold, and 94 condominiums sold.
The recently enacted first-time homebuyers' tax credit of $8,000 should help spur sales to higher levels, Geller noted. Those who meet eligibility requirements and purchase a home this year prior to Dec. 1 are eligible for a tax credit of up to $8,000, and unlike the 2008 tax credit, this one does not have to be repaid. This credit, combined with historically low interest rates should help encourage more homes sales, experts aree.
"Particularly for the first time homebuyer trying to purchase in the Sarasota market, this is an amazing time to realize the dream of home ownership," said Geller. "Affordable prices, combined with very low interest rates, plus the tax credit - you really haven't seen a better time to buy for decades." The median sale price for single family homes declined to $142,000 in February 2009 from $149,950 in January 2009 - a 5.3 percent decline.
The median sales price for condominiums fell to $198,000 in February 2009 from $220,000 in January 2009, for a 10 percent drop. These statistics appear to indicate the growing number of short sales and foreclosure sales in the market, which tend to impact the median sales prices more dramatically than the normal price trends. Another important market tracker - the absorption rate of properties on the market - continues to track lower than last year at this time for both single family homes and condominiums, as inventories have declined.
Absorption rate is the number of months it would take to sell the entire remaining listed inventory in a particular category, based upon the sales for that particular month.For February 2009, the absorption rate for single family homes stood at 24.1 months, compared to 25.3 months in January 2009, and compared to 29.6 months in February 2008. For condominiums, the absorption rate was at 28.5 months, compared to 38.4 months in January 2009, and much lower than the 44.0 months reported in February 2008.
For a pdf file of this report as well as charts and graphs, click here.
For Sarasota real estate information, contact Annette Smith at 941-504-3922. We show Sarasota properties daily.

Smooches for Pooches in Sarasota

2009-03-15T11:03:00.007-05:00

There is always something "fun" going on in Southside Village. Friday night Sandy Whitehead and I went to Knick's Tavern to grab a quick burger and enjoyed a nice surprise. Southside Village hosted the Smooches for Pooches Stroll, and we had a ringside seat.

Have you ever wanted to go to the Westminster Dog show? Well, we felt like we were there. Dog breeds represented that we spotted were: Poodles, Labradoodles, Goldendoodles, Water Spaniels, Great Danes, Pugs, Chihuahuas, Austraian labradoodle, Yorkies, Irish Setters, Portuguese Water Dog, Weimaraners and even Newfoundlands and St. Bernards.

Sandy fell in love with Ollie, the goldendoodle, only 7 months old and rescued by the nice lady at Jeanine's Professional Dog Training's booth. Our table was right next to the booth, and we became instant admirers of beautiful Ollie. Snuffy, Sarasota's famous pooch, didn't attend. He was so heartbroken that I assured him he will be on next year's guest list.

Booths were set up all along Hillview and Osprey streets, and the turnout was superb! The Adoption Van and Pet Therapy Smooch a Pooch booth were onsite. This was the second annual stroll with proceeds going to the Sarasota Humane Society.

A good time was had by all and we were treated to meeting two llamas named Pete and Batman. The pictures didn't turn out too great as they were taken with my Blackberry but I'm posting them anyway.

Contact Annette Smith at 941-504-3922 or Sandy Whitehead at 941-928-3435 if you are interested in homes West of the Trail near Southside Village and Sarasota Memorial Hospital. We show homes for sale in the area regularly.

Financing Options for Buying a Sarasota Home

2009-03-06T06:59:00.005-05:00

Need some financing options for buying a Sarasota home?

Bruce Garlitz of Countrywide Home Loans stopped by our office with some interesting options for financing your real estate purchase. If you are thinking of buying a Sarasota home and are short on cash for a down payment, you might consider an FHA loan as a solution to your mortgage needs. Bruce explained the First-Time Homebuyer Tax Credit to us too while we munched on a delicious lunch. Thanks Bruce -- lunch and the information were excellent.

FHA loans were popular many years ago, and now they making a comeback for primary homeowners and first time buyers. Give Bruce a call for the Guidelines or shoot us an email. You can contact Bruce at bruce_garlitz@countrywide.com.

For information on Sarasota homes for sale, email Annette for detailed sheets from the Sarasota MLS on homes that match your criteria. Search our IDX database for any Sarasota County home.

Downtown Sarasota Condos Update

2009-02-27T07:59:00.006-05:00

In our December, 2008 report on downtown Sarasota condos, we shared information we pulled for a customer from current MLS listings in 1350 Main, Tessera, Beau Ciel, Plaza at Five Points, and Grande Riviera. Downtown Sarasota remains one of the areas we are asked about each day. Buyers moving into Sarasota want to economize by living, working and playing in the same locale.

In this report, we have added One Hundred Central and Sarabande as we have had many calls in the last two months for these downtown Sarasota condos too.

Downtown Sarasota Condos UPDATE - February 27, 2008

1350 Main

Building Type: Highrise
Built in: 2007
Active: 21
Pending: None
*Sold: 3
Price Ranges: $339,900-$1,595,000
**Pets Permitted: Yes

Beau Ciel

Building Type: Highrise
Built in: 2003
Active: 10
Pending: None
*Sold: 2
Price Range: $1,095,000-$8,500,000
Pets Permitted: Yes

Grande Riviera:

Building Type: Highrise
Built in: 2005
Active: 2
Pending: None
*Sold: None
Price Range: $3,750,000-$5,950,000
**Pets Permitted: Yes

One Hundered Central

Building Type: Highrise
Built in: 2005
Active: 5
Pending: 1
*Sold: None
Price Range: $389,000-$995,000
Pets Permitted: Yes

Plaza at Five Points

Building Type: Highrise
Built in: 2005
Active: 5
Pending: None
Price Range: $749,000-$2,999,999
*Sold: None
**Pets Permitted: Yes

Sarabande

Building Type: Highrise
Built in: 1998
Active: 2
Pending: None
*Sold: 1
Price Range: $1,495,000-$1,600,000
Pets Permitted: Yes

Tessera

Building Type: Highrise
Built in: 2000
Active: 5
Pending: None
*Sold: 2
Price Range: $993,000-$4,995,000
Pets Permitted: Yes

All of these downtown Sarasota condos buildings are within walking distance to shopping, restaurants, galleries, downtown bayfront and many cultural activities of Sarasota Florida.

If you are searching for a condo downtown or any other Sarasota real estate, contact Annette Smith for listings, photo galleries, showings, and virtual tours. These sellers are wanting offers on these listings. If you think the market is going down another 25%, write your offer and factor in a reduction in the market -- just write the offer. You might be surprised to find a seller who will work with you.

*Sold data is pulled MLS report of the last six months. Appraisers use comparables of properties sold in the last six months. See our downtown Sarasota condo report for December 2008.
**Check with your Sarasota real estate agent regarding pet restrictions