Real Estate

Found 19 blog entries about Real Estate.

 

Here are the September 2013 statistics for the real estate market in Sarasota County. These statistics offer a clear-eyed view of exactly what's happened in the Sarasota County real estate market during the past 12 months. Community stats for a particular ZIP Code appear on the neighborhood pages.

These results have not yet been released to the public by the Sarasota Association of REALTORS®.

Note that these four charts are updated frequently and automatically from Multiple Listing Service (MLS) feeds. For the date of the most recent update, please see the line below each chart.

  • The Market Activity chart tracks inventory trends;
  • The Pricing chart tracks median and average sale price changes;
  • The Days On Market chart tracks length of
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Single-Family home builders shared results of a June 2013 survey about how room sizes compare in homes measuring 3,000 square feet or more.

That set me thinking about larger residences in Sarasota & Her islands.

I recently held an open house at a 7,452-square-foot residence in Country Club Shores on Longboat Key where the Master Bedroom measured 441 square feet or about 6 percent of the finished floor space. The National Home Builders Association (NAHB) special study of space allocations in new homes (released October 1, 2013) gives a way to see how finished floor space is distributed in homes these days.

Let's look at Master Bedroom as an example. Interestingly, the Master Bedroom is the only completely separate type of room present in

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Here are the August 2013 statistics for the real estate market in Sarasota County. These statistics offer a clear-eyed view of exactly what's happened in the Sarasota County real estate market during the past 12 months. Community stats for a particular ZIP Code appear on the neighborhood pages.

These results have not yet been released to the public by the Sarasota Association of REALTORS®.

Note that these four charts are updated frequently and automatically from Multiple Listing Service (MLS) feeds. For the date of the most recent update, please see the line below each chart.

  • The Market Activity chart tracks inventory trends;
  • The Pricing chart tracks median and average sale price changes;
  • The Days On Market chart tracks length of
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Do you keep one eye trained on the Rosemary District hoping that the eclectic neighborhood will bloom again? This area showed so much promise as a developing arts district before the Great Recession dealt its blows.

And maybe, like me, you’ve wondered about the Alfstad& Productions whose intriguing website promises to create "a quality ‘White Cube’ multi-purpose exhibition space that will become the contemporary art destination of choice."  

Now it looks like Alfstad& Productions and its team, which includes artists and crafts people, at least three of whom are graduates of Ringling College of Art and Design, are poised to breathe new life into this historic and well-located Sarasota neighborhood located just north of downtown.

The

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The reauthorization last year of the National Flood Insurance Program (NFIP) made a big change to flood insurance rates by gradually ending federal subsidies for flood insurance. Yes, the differences are significant for some homeowners who received subsidies, yet most people did not receive subsidies in the first place.

Even so, if you are buying or selling real estate whether or not flood subsidies are involved, you must be vigilant about disclosures covering whether or not a property lies in a Flood Zone. Sellers must disclose the details of any applicable flood insurance. Buyers must investigate the availability and cost of insurance.

Older homes in flood zones benefited from subsidies that kept flood insurance rates low, and the owners of these

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Thirteen percent of Sarasota homeowners with mortgages — that’s 17,318 homes — are bobbing within 10 percent of the equity waterline. Formerly drowning in mortgage debt, they either have now or soon will have enough equity to sell their home in the next year or so.

RealtyTrac’s report for September 2013 also categorized 21 percent of Sarasota homeowners with mortgages as having a loan-to-value (LTV) of 50 percent or lower.

The improved position means that the inventory of homes on the market should improve in coming months.

Of the 2,075,484 Floridians with mortgages, 40 percent were drowning with an LTV of 125 percent or more. Florida ranked third in underwater mortgages behind Nevada and Illinois.

There are still 45,835 or 33 percent of

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If you received a letter offering to copy your certified property deed, Sarasota County Clerk of the Circuit Court and County Comptroller Karen Rushing urges you to decline the offer and go to her office for that document. You will save time and money.

Property deeds are public records. The Clerk's Office provides these documents starting at $3 a copy — considerably less than $59.50 cited in solicitation letters received recently in Sarasota County.

You can print a noncertified copy of your documents for FREE by going to www.SarasotaClerk.com—choose Online Services and look for Official Records.

For a Certified Copy, call the Clerk’s Office at 941.861.7425 or visit your local office at 2000 Main Street in Sarasota or 4000 S. Tamiami Trail in

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Sarasota Mayor Shannon Snyder suggests developing the GWIZ site in concert with the nearby Quay property, according to SRQ Magazine. He wants the waterfront property on the city tax roll.

 Other commissioners see the possibility of renting to a new and similar tenant.

 GWIZ closed with a whimper on August 12. The children’s hands-on science museum limped along for the past year and has 60 days  to remove its equipment and property.

Photo by Louis Wery

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The Chief economist for the popular real estate website Zillow.com predicts moderation in Sarasota home prices over the next 12 months. Stan Humphries noted a 13 percent increase in home values over the last year but predicted a more sustainable 4.3 price-appreciation percent for the next 12 months, according to an interview with Harold Bubil in the Sarasota Herald-Tribune.

Humphries points to higher mortgage rates, lower affordability and new construction as factors in reducing demand. He expects newly built homes to ease the current low inventory. Also, homeowners will begin selling again once they achieve enough equity to cover transactions costs.

He suggests that the Sarasota real estate market take four or five years to return to boomtime

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The Local Market Insightall-cash deal has held sway in Sarasota for as long as I can remember, especially in the luxury market, and I have lived in the Sarasota area for more than 20 years. In my experience focused on selling residences listed at $500,000 and up, my clients are individual buyers, not institutional investors.

Certainly, people became more aware of this reality as credit tightened. The buyers who need mortgage support do struggle to find sellers willing to accept their offer.

In July 2013, there were 562 all-cash out of 991 sales for 57 percent; 389 involved a loan (39 percent); and 40 were classed as other (4 percent). For Manatee County, 47 percent of the July sales were all cash (330 out of 701). My Florida Regional Multiple Listing Service

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