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Sarasota Real Estate

Sarasota Real Estate Sales Stats for September 2010

The Sarasota Association of Realtors just released statistical data for the September 2010 Sarasota real estate market.  The data mirrored the numbers that we saw in August. Both prices and sales were almost identical to the numbers from the previous month. In addition, the report states that September 2010 figures are “virtually identical” to the median price and unit sales from a year earlier in September 2009.

Eric Shumway, SAR President, pointed out that “we’ve observed a very steady local real estate market for the past 12 months.” August and September are typically our slowest months for real estate activity.

For the full report: click here http://www.sarasotarealtors.com/Sept2010stats.pdf

The Obama Administration & Congress Need to Make a Decision on Income Taxes

We are seeing many buyers that appear to be waiting to see what the Obama Administration and Congress will be doing with regards to Taxes. There is so much uncertainty out there because of the Obama Administration’s failure to make a decision and take action on setting the Tax Rates for 2010. In order to get the economy and real estate market going, the emphasis needs to be on restoring confidence to consumers and small businesses. Business and consumers seem to be waiting on this administration to make a decision. We are working with many buyers right now that are putting off large decisions (like buying a home), because they do not know what the repercussions will be on Income Taxes and Obamacare.

Foreclosure Moratorium

In addition, the foreclosure moratorium would be disastrous for the real estate market. Banks certainly need to be following the law. But allowing hundreds of thousands of delinquent homeowners to remain in their homes because of technicalities will only add to the challenges of the real estate market. So far, President Obama has been reluctant to place a nationwide freeze on foreclosures. Democrats like Nancy Pelosi and Harry Reid have pushed for a nationwide freeze on foreclosures. Many are speculating that this is an effort to win votes in the mid-term elections, despite the harm that a move like this would do to the economy. So far, the President has resisted the pressure from the left wing. Let’s hope that he stands strong.

L’Ambiance Condo on Longboat Key – September 2010 Update

L ambiance is an elegant two-building condominium on Longboat Key.  This 24 hr guard gated community offers its residents outstanding amenities behind the gates of the Longboat Key Club.  Play tennis, swim, walk the private beach or workout at home every day.  If golf is your game, the course is minutes from L’Ambiance Longboat Key.  Walk to the Longboat Key Club for lunch – whatever your heart desires – it’s a fabulous beach lifestyle at L Ambiance!

L Ambiance on Longboat Key Sales Update

The Sarasota MLS currently reports 4 condos for sale at L’Ambiance on Longboat Key.  Prices range from $1,395,000 for a spacious 3 bedrooms, 3 bath condo built in 1992 to a larger condo with 3 bedrooms, 3 ½ baths priced at $2,599,000.  There are two pending sales at L Ambiance.

Downtown Sarasota and St. Armands Circle are minutes away from L Ambiance as well as many of Longboat Key’s wonderful restaurants and specialty shops.

If you are searching for elegant real estate on Longboat Key, contact the John Allen Team.  Our experienced agents specialize in luxury Longboat Key condos.  We can help you with a  condo at Positano, Sanctuary and Villa di Lancia too – all elegant beach residences on Longboat Key.

London Bay Homes Acquires Remaining Founders Club Sarasota Real Estate

Naples based builder, London Bay, purchased the remaining 86 building lots at the Founders Club.  The company will also take over the maintenance and marketing of the Founders Club real estate.

Located East of Interstate 75 at Fruitville Road, the Founders Club consists of 700 acres.  There are 286 home sites surrounding the golf course, lakes and tropical acreage.  Famed golf course designer, Robert Trent Jones, Jr. designed the golf course.  The Club House is one of the most charming in Sarasota bringing a low country design to the area and showcasing some of the area’s most precious golf history.

The Founders Club is sure to see some significant improvements since the members purchased the remaining golf course memberships and now Builder Magazine’s 2008 Builder of the Year will start new designs beginning with a remodeled sales center.  London Bay builds homes starting in the $800,000s.  Custom designed homes feature fabulous architectural detailing and quality designs sought in a builder of luxury homes.

Currently the Sarasota MLS reports 26 current listings for sale at the Founders Club.  Prices range from $674,000 for a 4 bedroom, 4 and ½ bath home to a 5 bedroom, 5 ½ bath home with over 6,000 sq.ft. priced at $3,999,950.  Pending sales at the Founders Club total 3 and 8 homes have sold in the last six months.

If you are interested in more information on the Founders Club or any other Sarasota real estate for sale, contact the John Allen Team at 941-544-6467.

Sarasota Real Estate Market: Recent Sales Data Released

The Sarasota Board of Realtors just released sales data for property sales in the Sarasota real estate market in July 2010.  As expected “sales slowed to pre-tax credit numbers following the expiration of the federal $8,000 homebuyer incentive.”

In July 2010, there were 525 total sales which was a 47.8 percent declines from the June 2010 figure of 776 sales. The reported stated that “the sales figure was much closer to the 506 sales in January 2010 and the 528 sales in February 2010, when the homebuyer credit wasn’t a factor in the market.” Pending sales were lower too, dropping to 653.

Single family homes for sale in Sarasota sold dropped to 374, compared to 576 single family homes sold in June 2010.  “The median price also trended lower at $155,000, compared to June’s figure of $175,000.  The figure was more in line with the 12-month rolling median sale price of $162,000.”

Sarasota condo sales in July totaled151.  This was down from last month’s figure of 200.  “The median price of condos also fell in July to $127,000, which again primarily reflected distressed property sales.  Non-distressed condo sales saw a median price of $227,500, while for distressed properties, the median sale price was $73,000 for bank-owned condos and $121,700 for condos involved in short sales.”

Eric Shumbway, 2010 SAR President pointed out that slower sales were predicted once the tax credit expired.  He also pointed out that Sarasota is “not immune to economic forces which continue to limit the nations’ recovery.”

To read the full report, click HERE for the complete PDF version of the Sarasota Board of Realtors’ press release, along with two pages of statistical charts.

Real Estate Sales in Sarasota Reach Higest Level for 2010

Sarasota Florida’s real estate sales for 2010 just keep getting better even with negative press about the oil crisis to our north, the end of the taxpayer credit and looming worries of a bad economy.

The Sarasota Board of Realtors released stats today for June 2010 and “once again property sales topped the 700 mark” hitting the highest level for this year.  Sales were higher than any date since December 2005.  The previous high for Sarasota real estate sales was in May of this year when sales topped 766.  June property sales totaled 776.  Sales were 27.2 percent higher than last year in June.

“In June, 576 single family homes were sold, 28.3 percent higher than June 2009, when only 449 single family homes sold.”  Homes values are trending higher also.

Condo sales totaled 200 in June showing a 24.2 percent increase over June 2009.  Median price of condos fell, primarily due to distressed property sales.

Once again, pending sales were strong although not as high as the period where homebuyers were eligible for tax credits.  Eric Shumway, 2010 SAR President pointed that Sarasota “anticipated a potential drop off in sales with the expiration of the $8,000 tax credit.”  Strong June figures show continued strength in the Sarasota real estate market.

Distressed property sales for foreclosures and short sales rose in June and property inventory dropped.  Inventory is at the lowest level since the late summer of 2005.

The return of a seller’s market is in sight for properties under $250,000.  To read the full Sarasota real estate report, click here.

Contact the John Allen Team for more information on Sarasota homes for sale at 941-544-6467.  Visit our newest comprehensive downtown Sarasota real estate site if you are searching for an urban lifestyle.

Sarasota, FL Named Best Place to Buy Real Estate

The International Property Journal reports in their online blog that Sarasota, Florida is the “Best Place to Buy in the Western World.”  Those of us who live and work in Sarasota have been shouting and touting Sarasota’s amenities and beauty to the world for quite some time.  The report “ranks popular resort and second home locations around the world.”  Since Sarasota real estate prices have fallen tremendously in the past two years, Sarasota is the cheapest holiday home location in the western world according to the report.

Sarasota Florida’s warm climate, tropical breezes and magnificent waterfront vistas are a huge draw internationally.  Offering its residents cultural venues such as the Sarasota Opera, the Ringling Museum of Art and the Van Wezel Performing Arts Hall, Sarasota has become home to many professionals, sports and entertainment celebrities as well as baby boomers seeking a community that offers it all.  Sarasota, Florida is not longer known as just a “beach” resort, the world has found its “Best Place to Buy.”

Check out the full report:  http://internationalpropertyjournal.com/latest-news/109-best-buys-internationally.html

If you need assistance searching for Sarasota homes for sale, contact the John Allen Team at 941-544-6467 for experienced guidance in all areas of Sarasota including Siesta Key, Casey Key, Longboat Key, Lido Key and downtown Sarasota.

Sarasota Real Estate Update for Siesta Key

For the second year in a row, Dr. Beach named Siesta Key Beach the No. 2 Beach in North America on its Top 10 Beaches list.  Siesta Key real estate along with Sarasota real estate realizes a boost each time they receive national attention.  The top beach report is timely this year with worries of the oil slick in Louisiana.  Sarasota beaches are just fine.

Sales on Siesta Key Florida have improved right along with the local Sarasota real estate market.  Buyer activity is robust with daily requests for information on this famous beach.  Condos are moving even with stricter lending requirements for significant deposits in buildings that allow liberal rentals.

Siesta Key Real Estate Activity Last 6 Months

  • Current Homes Listed: 174
  • Pending Home Sales:  43
  • Homes Sold:  82
  • Lowest Priced Home:  $269,000
  • Highest Priced Home:  $15,000,000

 Siesta Key Condos

  • Current Condos, Villa, Town Houses Listed:  410
  • Pending Condo Sales:  57
  • Condos Sold:  151
  • Lowest Priced Condo:  $150,000
  • Highest Priced Condo: $3,200,000

If you are planning to purchase Sarasota real estate, contact John Allen at 941-544-6467 with your parameters.  We can help you find a Sarasota home for sale or a condo on Longboat Key, Lido Key or downtown Sarasota!

University Park Homes for Sale in Sarasota FL

University Park Homes for Sale
University Park Homes for Sale

Behind a guarded gate just off University Parkway in Sarasota, you find homes for sale in University Park Country Club. The dramatic entrance boulevard winds through the tropically landscaped grounds. University Park’s pristine vegetation takes your breath away.  Previously, “Best Community Design in America” was bestowed upon University Park by The National Association of Homeowners. University Park has also won numerous other awards since its development.

Master golf course architect Ron Garl designed the golf course which is 4anked as one of Florida’s top golf courses, University Park’s course offers a challenging 27 holes of championship golf.  Information on the Club and golf course are available if you are interested in purchasing a home for sale in University Park.

Within its gates, University Park consists of 31 communities. Residents enjoy a resort lifestyle in maintenance free villas or larger estate styled homes. The University Park Country Club’s has one of the best Club Houses in the area as well offering its members 11 Har-Tru tennis courts, fitness facility, and many fitness classes too. Several choices of dining venues such as the Lakeside Room, the Park Grille and Café are available too.  The Card Room is reserved for “Members only.”

Currently, the Sarasota MLS reports its inventory of homes for sale in University Park Sarasota at 53 listings.  There are an additional number of villas available. Pending sales indicated in the MLS total 9 and in the last six months, 33 homes have sold in University Park Country Club.

If you are planning to retire in Sarasota, FL and are searching for a country club lifestyle with an active golf course community, the selection of University Park homes for sale may office you the perfect choice for your Florida move. Contact John Allen at 941-544-6467 for a consultation and an appointment to view homes for sale in University Park.

Never picked up a golf club in your life, and you aren’t going to now — it’s the beach in your dreams and always will be.  Take a look at the Lido Key homes for sale close to St. Armands Circle. You can relax at the beach during the day, shop on the Circle, take a break at your new home and wander back to the Circle for dinner.  Just another Sarasota lifestyle option!

Longboat Key Towers Condominium on the Beach

Longboat Key Towers
Longboat Key Towers

Located behind the gates of the Longboat Key Club, the Longboat Key Towers is home to 88 units.  The two buildings were completed in 1970 but recently underwent a $12 million renovation.  Providing its owners excellent on-site management, amenities include:

  • His and Hers Locker Room
  • Sauna
  • Fitness/Exercise Room
  • Gulf-front Pool/Spa

The Sarasota MLS currently reports 3 condos for sale at Longboat Key Towers on Longboat Key.  Sales prices range from $995,000 to $1,699,000.  There are no sales pending and one condo has sold in the last six months.  The selling price was $651,000.

Longboat Key Towers could be your place in the sun.  For showing information, prices and stats, give us a call.  Our agents know Longboat Key condos and regular show on the Key.  Some of our favorites include: En Provence, Sanctuary and Islands West.