Monthly Archives: November 2009

Kanaya Condo – Feng Shui in Downtown Sarasota

Kanaya in Sarasota FL
Kanaya in Sarasota FL

Balanced, healthy living is the central theme to Kanaya’s thirty-five Feng Shui inspired residences.  Located on South Orange Avenue, Kanaya is in a quiet downtown neighborhood steps from Burns Court, downtown’s theater district, and Sarasota’s finest shopping and dining.

Offering two floor plans, the Laurel units are 2,655 square feet with 3BR/2.5B, and the 24 Bamboo units are 3,026 square feet with 3BR/3.5B plus study.  Prices start at $699,000 and go up to over $2 million. Residences include spectacular views of the bay, gulf, and city, outdoor parks with contemplation paths, a rooftop garden and pavilion for 360 degree water and city views, and a spectacular entrance to the amenities level with a Japanese garden and saltwater aquarium.

Amenities include a 60 foot solar heated chlorine-free swimming pool, a spacious pool deck with a hot tub, labyrinth, and grill, infrared sauna, two separate gym areas: one with equipment dedicated to Pilates and yoga and the other with traditional cardiovascular exercise equipment, and a social room with an entertaining kitchen that flows out to the pool area.

If healthy living is your focus, Kanaya was meant for you!  All residences were built with formaldehyde-free insulation, granite countertops and cabinets shielded from formaldehyde release, reverse osmosis, charcoal filtered drinking water system, air conditioning with advanced filtration filtration systems, mildew resistant, no V.O.C. paints used throughout the interior, reduced electro-magnetic fields, and humidistats and positive ventilation to prevent mold and fungus in individual residences.  Even if healthy and green, the residences still feature life’s finer luxuries with elegant master baths, garden tub, spacious walk-in closets, and terrace access from the master bedroom.  The gourmet kitchen highlights several amenities including granite counters, European cabinetry with raised panel doors and under cabinet lighting.

Kanaya’s unique residences and theme are unrivaled. Contact us for a viewing of this unique, health-inspired, exclusive residential complex. We will also be happy to show you other downtown Sarasota condos that may interest you.

November Real Estate News

Below are some of the top national real estate news stories for the week ending November 13, 2009.

Mortgage rates remain below 5% Nationally according to Freddie Mac. The average rate for a 30 year home loan fell to 4.91%, down from 4.98% the previous week.

The National Association of Realtors announced that the recent homebuyer tax credit extension will have an additional benefit to US Armed Forces. U.S. Military, foreign personnel and intelligence service members who were out of the United States for 90 days during any part of 2009 will get an additional year to buy their homes with the tax credit.

National Foreclosure rates dipped 3% on October from September according to RealtyTrac.com. It was the third straight monthly decline. RealtyTrac attributed the decline to improved foreclosure prevention programs.

Investors are moving back into the market to take advantage of greatly reduced prices, according to Move.com.

The Federal Housing Administration announced that it is relaxing its condominium underwriting guidelines as a way of helping the struggling sector ride out the downturn. The move could help boost condo sales by making more FHA mortgages available to buyers.

Fannie Mae announced this week that it is going to give borrowers on the verge of foreclosure the option of renting their homes for a year. This new “Deed for Lease” program will allow owners to transfer title to Fannie Mae in exchange for a one year lease.

Sarasota Florida Real Estate Sales Are Up

Home and condominium sales jumped 35% last month, compared to the same month in 2008 according to MLS numbers released by the Sarasota Association of Realtors. Sales were fuled by the $8,000 first time home buyer credit (this was just extended until the end of June 2010), and investors/buyers taking advantage of greatly reduced prices. Total unit sales for the month were 554 versus 409 for the same period last year. 399 single family homes and 155 condos were sold. Approximately half of the homes and a third of the condo sales were short sales or foreclosures. The SAR reports that most of the statistics point to a market that is in the recovery mode. Inventory levels have been steadily declining and are now at the lowest point since the real estate boom ended.

As we pointed our in a previous post, Barbara Corcoran believes that Sarasota, FL is the best real estate market in the United States to by a home right now. According to the interview, prices have stabilized and will be headed back up. She also points out that Sarasota is a sophisticated town with big city amenities and fabulous beaches.

Sarasota is Number 1 Market to Buy a Home in U.S.

Last month, Barbara Corcoran announced on the Today Show that Sarasota, Florida is the number one spot in the United States to buy a home. According to Corcoran, Sarasota prices have stabilized and will be headed back up. She also spoke about Sarasota’s world famous beaches (Siesta Key Beach is #2 beach in U.S. according to Dr Beach), fabulous weather and extensive cultural offerings.

Watch the Today Show interview below.

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