Information in part from a Report Copyrighted by Sarasota Assoc of Realtors
While nationally the housing market remains flat at best, the Sarasota Association of Realtors just reported that for the full year 2011, Sarasota area property sales jumped 8.2% to 8,224, the highest level since 2005 and a 44% increase over the low point in 2008. The surge in sales was accompanied by stabilization in the median sale price, which now stands at $155,925 for single-family homes and $156,800 for condominiums.
SAR President Laura Benson reported that "... (Sarasota) offers very affordable pricing. Combined with the high quality of homes and condos on the market, I think we clearly have the best values in Florida, without question." Sarasota is clearly the destination of choice for many of today’s home buyers.
Transactions in the Sarasota real estate market jumped 7.3% in December 2011, over November. At the same time, there has been a consistent drop in the available inventory of homes and condos for sale. At the end of 2011, there was 6.3 months of inventory for single family homes and 9.2 months for condos. The market for single-family homes is on the verge of becoming a “seller's market,” the first time this has happened in several years. An available inventory of homes for sale of less than 6 months is considered a seller's market.
Distressed properties continued to be a higher percentage of the market than than normal for the 4th quarter, 2011. 41.7% of sales in the 4th quarter were foreclosure and short sale distressed property transaction). This was slightly higher than the 3rd quarter, when the overall percentage was 38.8%, but well below the market high of over 50% in the 2nd quarter of 2010. The increase in distressed property sales is a reflection of the fact that banks realize that the market is now healthier so they are putting more of their distressed properties back on the market expecting, and receiving, offers much closer to their actual value than could be expected earlier.
Overall, several positive forces are coming together here in the Sarasota – Bradenton real estate market. The lower inventory of homes for sale is stabilizing, and beginning to put upward pressure on, prices. People, in general are feeling more upbeat than at any time in the past 3 years according to the Consumer Confidence Index. And, there are more buyers in the Sarasota-Bradenton real estate market looking to buy a home or condo now at these historically low prices and interest rates. President Benson noted, "There is a real sense of optimism and excitement returning to the market. We're entering the height of the season, and open houses have been bustling with energy and interest."? "New home sales doubling in one community and setting records for annual sales in another are clear signs of the strength of the current Sarasota real estate market." she added.
If you are visiting our area now or planning to come to Sarasota in this Winter season, we encourage you to call upon a local Sarasota Luxury real estate agent like Judie Berger at 941-928-3424 or Bradenton real estate expert, Brian Ward at 941 228-2321 today. You may also wish to E-Mail Judie Berger or E-Mail Brian Ward with your questions about the Sarasota - Bradenton real estate market.
Saturday, January 14, 2012
Thursday, September 29, 2011
Intro to the River Wilderness Golf and Country Club community in Bradenton Florida
River Wilderness Golf and Country Club is a secluded, gated golf and boating community bordering the northern side of the Manatee River in Bradenton Florida.
The custom homes in River Wilderness come in a wide choice architectural styles and floor plans situated on over-sized lots in an exquisitely natural setting.
The River Wilderness golf course, designed by Ted McAnlis, sits amid 150 acres of pristine landscape. The course is part of the Audubon Cooperative Sanctuary System blending its natural beauty with an abundance of wildlife. The 27,000 sq.ft. clubhouse provides community residents with a wide variety of activities and amenities. An athletic center offers fitness, tennis and swimming programs at all levels.
Says Andree Huffine, a well-known Sarasota real estate professional, "while offering an exclusive, yet countrified setting, River Wilderness is centrally located with reasonable drive times to the center of Bradenton, the Sarasota-Bradenton airport and downtwon Sarasota." Local beaches and those on Anna Maria Island and local state parks are easy drives away. For boaters, the community includes a boat launch and boat and RV storage facilities.
If you would like to know more about the fine homes in the River Wilderness community or about other nearby Bradenton and Sarasota waterfront communities and neighborhoods, Rich Stover, a respected Sarasota real estate expert would be happy to introduce you to this and other lovely Bradenton area waterfront communities offering a wide variety of lifestyles and home prices. You can review all of the Sarasota - Sarasota golf course communities on Rich Stover's website.
Thursday, August 18, 2011
Home Sales Slump Unexpectedly in July
Across the United States, sales of existing homes fell unexpectedly in July, as strict lending and low appraisals prevented consumers from scooping up some of the cheapest houses since 1970. Home sales rose in the Northeast and Midwest, but the gains were offset by declines in the West and South. Distressed homes, which include foreclosures, accounted for 29% of sales in July.
The fall in home prices across the country now totals about $1.3 trillion of lost home equity just over one year. If this continues, the result will be about $2 trillion sliced out of the U.S. economy when it needs several trillion dollars of new credit each year just to keep going.
In the Sarasota - Bradenton Florida market, there were 599 closings in July including 445 single-family homes and 154 condo, down from over 700 in four of the first 6 months of 2011. In June, home sales had reached 728 during the height of the spring buying season, a pattern, which according to Connie Belmont, a Sarasota homes for sale specialist, that has been evident for the past few years.
On a brighter note, the percentage of distressed home sales in the Sarasota market (short sales and foreclosure sales) remained at 38% of the July 2011 sales down from as high as 47% in February, 2011.
Nationwide, sales of previously-owned homes tumbled 3.5% last month to an annual rate of 4.67 million, down from 4.84 million in June, according to the National Association of Realtors (NAR) and Brian Ward, a respected Bradenton FL real estate agent with Keller Williams Realty. The national median home price in July was $174,000, down 4.4% from a year earlier.
Plans for new home construction were also weaker than expected in July after showing some strength in June. Economists were surprised by the slump as they had expected July sales to come in at a much higher rate of 4.87 million homes.
"Affordability conditions this year have been the most favorable on record dating back to 1970, but many buyers are being held back because banks are offering financing to only the most highly qualified borrowers, ignoring a large share of otherwise creditworthy buyers," Yun said.
"While the struggling housing market has made buying a home increasingly affordable for consumers, many just cannot get financing from lenders to make the purchase," said NAR chief economist Lawrence Yun. "Those potential buyers represent the difference between an uneven recovery and a much more robust housing market that could stimulate economic activity and create jobs," he added.
"Contract failures across the nation, largely caused by rejected mortgage applications and appraisals below the negotiated price, were unchanged in July from the earlier month. Nearly 10% of Sarasota Florida Realtors reported that one or more sale contracts had been delayed or lost in the past 3 months because of low appraisals," said Dick Plumb, another well-known Bradenton real estate agent. Nationwide, 13% of Realtors reported that sasles contracts had to be re-negotiated down to a lower sales price because an appraisal came in below the price initially agreed upon.
It is clear that the housing problem in the U.S. has not gone away and is, in fact, still a long way away from anything that looks or feels like good news and/or stability. "Conversely, for those with cash and a good deal of risk-tolerance," says Bert Stanley, author of the Real estate of Florida information-packed website, "there are homes priced at bargain levels all across the United States and a few investors are taking advantage of those bargains." Investors, both domestic and foreign buyers, may be the one piece of good news in the U.S. real estate market today.
The fall in home prices across the country now totals about $1.3 trillion of lost home equity just over one year. If this continues, the result will be about $2 trillion sliced out of the U.S. economy when it needs several trillion dollars of new credit each year just to keep going.
In the Sarasota - Bradenton Florida market, there were 599 closings in July including 445 single-family homes and 154 condo, down from over 700 in four of the first 6 months of 2011. In June, home sales had reached 728 during the height of the spring buying season, a pattern, which according to Connie Belmont, a Sarasota homes for sale specialist, that has been evident for the past few years.
On a brighter note, the percentage of distressed home sales in the Sarasota market (short sales and foreclosure sales) remained at 38% of the July 2011 sales down from as high as 47% in February, 2011.
Nationwide, sales of previously-owned homes tumbled 3.5% last month to an annual rate of 4.67 million, down from 4.84 million in June, according to the National Association of Realtors (NAR) and Brian Ward, a respected Bradenton FL real estate agent with Keller Williams Realty. The national median home price in July was $174,000, down 4.4% from a year earlier.
Plans for new home construction were also weaker than expected in July after showing some strength in June. Economists were surprised by the slump as they had expected July sales to come in at a much higher rate of 4.87 million homes.
"Affordability conditions this year have been the most favorable on record dating back to 1970, but many buyers are being held back because banks are offering financing to only the most highly qualified borrowers, ignoring a large share of otherwise creditworthy buyers," Yun said.
"While the struggling housing market has made buying a home increasingly affordable for consumers, many just cannot get financing from lenders to make the purchase," said NAR chief economist Lawrence Yun. "Those potential buyers represent the difference between an uneven recovery and a much more robust housing market that could stimulate economic activity and create jobs," he added.
"Contract failures across the nation, largely caused by rejected mortgage applications and appraisals below the negotiated price, were unchanged in July from the earlier month. Nearly 10% of Sarasota Florida Realtors reported that one or more sale contracts had been delayed or lost in the past 3 months because of low appraisals," said Dick Plumb, another well-known Bradenton real estate agent. Nationwide, 13% of Realtors reported that sasles contracts had to be re-negotiated down to a lower sales price because an appraisal came in below the price initially agreed upon.
It is clear that the housing problem in the U.S. has not gone away and is, in fact, still a long way away from anything that looks or feels like good news and/or stability. "Conversely, for those with cash and a good deal of risk-tolerance," says Bert Stanley, author of the Real estate of Florida information-packed website, "there are homes priced at bargain levels all across the United States and a few investors are taking advantage of those bargains." Investors, both domestic and foreign buyers, may be the one piece of good news in the U.S. real estate market today.
Wednesday, August 3, 2011
Introducing the Pinebrook/Ironwood Golf Club in Bradenton Florida
The Pinebrook/Ironwood Golf Club is nestled inside a beautiful community in the heart of Bradenton, Florida at 4260 Ironwood Circle. The course offers a challenge for golfers of all ages and handicaps with greens that were renovated in the summer of 2003 with "Champion Ultra Dwarf Bermuda". This putting surface is far superior to the traditional bermuda grass seen on most Sarasota area golf courses.
The 18-hole, semi-private course features 3,964 yards of golf from the longest tees for a par 68. "Sixteen of the fairways are bordered by water with 37 bunkers surrounding the 18 greens," reports Dick Plumb, an avid golfer and Bradenton golf course homes realtor. "In addition to 18 fine holes of golf, he says, "the amenities include a pro shop, snacks, refreshments and a putting green."
"The Pinebrook/Ironwoods course,according to Bradenton locals, is one the best executive courses in the area with its narrow fairways, plenty of water hazards, and small well-bunkered greens," says Brian Ward, another realtor focusing his buyer agency services on Bradenton FL homes for sale
The 18-hole, semi-private course features 3,964 yards of golf from the longest tees for a par 68. "Sixteen of the fairways are bordered by water with 37 bunkers surrounding the 18 greens," reports Dick Plumb, an avid golfer and Bradenton golf course homes realtor. "In addition to 18 fine holes of golf, he says, "the amenities include a pro shop, snacks, refreshments and a putting green."
"The Pinebrook/Ironwoods course,according to Bradenton locals, is one the best executive courses in the area with its narrow fairways, plenty of water hazards, and small well-bunkered greens," says Brian Ward, another realtor focusing his buyer agency services on Bradenton FL homes for sale
Wednesday, June 22, 2011
Stoneybrook Golf Course Homes are Bargain Priced
Stoneybrook Golf and Country Club is located on the south side of Sarasota, in beautiful Palmer Ranch, one of Sarasota Florida's most prestigious areas. Stoneybrook offers a regulation par 72, Arthur Hill designed, 18-hole golf course, as well as a host of other amenities that you would expect to find at a premier country club.
"Most of the Stoneybrook condos were built in the late 1990's and are mostly garden-style first and second floor units, and villa style condominiums, many with gorgeous golf course or watefront views" says Andree Huffine, a Sarasota real estate professional familiar with the area. Many for sale units are turnkey-furnished. For those considering buying a Stoneybrook condo as an investment property for now, and maybe as your home during retirement, there is an active on-site rental office for Stoneybrook owners who wish to rent their units.
Stoneybrook Golf and Country Club is a gated community with beautifully maintained ladnscaping and sidewalks that meander along ponds and lush foliage. The 18-hole Arthur Hills designed golf course, community swimming pools, Har-tru tennis courts and a well equipped fitness center add to the pleasant surroundings. The large clubhouse has a full service restaurant, grill room and pro shop. There are themed parties held throughout the year but there are also on-going activities including Bridge, Euchre, Mahjongg, and more.
Stoneybrook is the perfect community for long walks or bike rides regardless of your age and it is convenient to all the retail and restauratns you could ever want almost next door on the famous Tamiami Trail (U.S. Rte 41). Siesta Key and famous Siesta Beach arfe just a short causeway drive away.
There is a condo or villa in Stoneybrook that is just right for you. "There's a golf course home in the price range and the location anyone could possibly want in Sarasota Florida", according to the Real estate of Florida website and Stoneybrook is but one great example of that truism.
Thursday, May 12, 2011
Introducing Bent Tree Country Club in Sarasota
The Bent Tree Country Club is a master-planned community situated east of Interstate-75 at exit 38 just off of Bee Ridge Road in sunny Sarasota, Florida.
The Bent Tree County Club has a picturesque setting retaining the natural beauty of wooded areas, lakes and streams and protecting birds and wildlife. This unspoiled terrain serves as the back drop for a game of golf in what feels more like a northern setting.
The country club golf course is accented by tree-lined fairways bounded by mature oak trees, expansive greens, and miles of lakes and streams. The Bent Tree golf course is very "walkable," says Janet Dugan, Sarasota Realtor and avid golfer, "and provides four sets of tees ranging from 5,465 to the tips at 6,863 yards." Country club membership is optional for residents of the community, but club amenities include an updated clubhouse with casual and fine dining facilities, banquet facilities, tennis courts, a swimming pool as well as a children’s wading pool.
Want to know more about the Bent Tree Country Club golf course community in sunny Sarasota Florida ? Bob Henley of RE/MAX Alliance Group would be delighted to show you around Bent Tree and other golf course communities in the Sarasota real estate market.
Monday, May 2, 2011
Selling a Sarasota Home in the Off-Season
Not everyone who relocates to the Sarasota – Bradenton area of Florida has the desire or the resources to buy a home while they are here as “snowbirds” in the months of December through April when the appeal of our Sun Coast lifestyle is so obvious or when the kids are out of school for three months before the kids need to be back in school. If you need to sell a home or condominium during these “off-seasons,” there will still be buyers looking for homes. You just may need to put a little more effort and creativity into the task of selling your home.
Everyone who has ever sold a home has heard the usual advice. Find a good Realtor, be aware of local home values, remove personal items and de-clutter the home. Touch up the paint, remove old wallpaper, be out of the home during showings, and keep your pet out of the way. "That is all good advice, but it’s not always enough,” says Bob Henley, a specialist in selling Sarasota Florida real estate. "You may need to go a few “extra miles” to achieve success if you’re selling a home in the off-season,” he says.
The following five thoughts may help you succeed where others will fail.
1. Get more specific about your home’s value: You probably already know enough to use neighboring home values as comparisons in setting your asking price.. But now, some additional homework can pay off. If you need to sell quickly, stay ahead of the market by pricing yours a bit lower. In the wake of the bursting real estate bubble, it’s also important to have a heightened awareness of foreclosures in your immediate area. Any foreclosures in your immediate neighborhood wil put a dent in your home’s market value.
2. Get Involved: Just because you’re working with a Realtor® like Andree Huffine, Sarasota Realtor doesn’t mean you can’t add in some of your own legwork. The first 10 days on the market are the most critical to selling a home because new listings get the most attention from buyers. Internet-based social media sites have opened limitless new strategies to sell your home. Also consider using sites like Craigslist, Facebook, Flickr, Zillow and YouTube. Make sure you’ve agreed with your Realtor to pay his or her commission (or some other mutually agreed-upon amount) if you sell it yourself using one of these venues. Post pictures on these sites that show your home at its best. You can even upload a narrated video tour – because that’s what you’d want to see as a buyer. At some real estate agencies, a video tour is becoming the new requirement for sellers.
3. Accept a helping hand: Take advantage of a wide range of services, beyond your local Realtor’s, that could help you streamline the buying and selling process. Some cost money, such as a home “staging” service that can help you show your home at its best If you are employed or in the military, you may find that your employer or the the military offer services ayou can use either for free or at discounted rates.
4. Get Creative With Your Terms: "Sometimes it takes some out-of-the-box ideas to seal a deal" say the authors of the Real Estate of Florida website. "You might sweeten the pot by offering to pay some or all of a buyer’s closing costs, for example. Or, in some communities, you may also be able to offer to pay the new owner’s membership initiation fee for the local golf course, yacht club or other local association."
5. Above All Else, Remain Flexible: As a home seller, you need to keep your personal feelings and sensitivities out of the deal. Be willing to make concessions, especially in the off-season. That means not haggling over minor repairs or refusing to leave behind the chandelier your buyer has fallen in love with. Factor into your thinking the expenses of keeping up your home for several more months versus accepting a lower selling price or letting something go with the home and having the sale done right now.
Even in the most sluggish real estate market, getting ahead of the curve with a little extra effort may be the key to a quick sale in a sluggish or off-season market.
Everyone who has ever sold a home has heard the usual advice. Find a good Realtor, be aware of local home values, remove personal items and de-clutter the home. Touch up the paint, remove old wallpaper, be out of the home during showings, and keep your pet out of the way. "That is all good advice, but it’s not always enough,” says Bob Henley, a specialist in selling Sarasota Florida real estate. "You may need to go a few “extra miles” to achieve success if you’re selling a home in the off-season,” he says.
The following five thoughts may help you succeed where others will fail.
1. Get more specific about your home’s value: You probably already know enough to use neighboring home values as comparisons in setting your asking price.. But now, some additional homework can pay off. If you need to sell quickly, stay ahead of the market by pricing yours a bit lower. In the wake of the bursting real estate bubble, it’s also important to have a heightened awareness of foreclosures in your immediate area. Any foreclosures in your immediate neighborhood wil put a dent in your home’s market value.
2. Get Involved: Just because you’re working with a Realtor® like Andree Huffine, Sarasota Realtor doesn’t mean you can’t add in some of your own legwork. The first 10 days on the market are the most critical to selling a home because new listings get the most attention from buyers. Internet-based social media sites have opened limitless new strategies to sell your home. Also consider using sites like Craigslist, Facebook, Flickr, Zillow and YouTube. Make sure you’ve agreed with your Realtor to pay his or her commission (or some other mutually agreed-upon amount) if you sell it yourself using one of these venues. Post pictures on these sites that show your home at its best. You can even upload a narrated video tour – because that’s what you’d want to see as a buyer. At some real estate agencies, a video tour is becoming the new requirement for sellers.
3. Accept a helping hand: Take advantage of a wide range of services, beyond your local Realtor’s, that could help you streamline the buying and selling process. Some cost money, such as a home “staging” service that can help you show your home at its best If you are employed or in the military, you may find that your employer or the the military offer services ayou can use either for free or at discounted rates.
4. Get Creative With Your Terms: "Sometimes it takes some out-of-the-box ideas to seal a deal" say the authors of the Real Estate of Florida website. "You might sweeten the pot by offering to pay some or all of a buyer’s closing costs, for example. Or, in some communities, you may also be able to offer to pay the new owner’s membership initiation fee for the local golf course, yacht club or other local association."
5. Above All Else, Remain Flexible: As a home seller, you need to keep your personal feelings and sensitivities out of the deal. Be willing to make concessions, especially in the off-season. That means not haggling over minor repairs or refusing to leave behind the chandelier your buyer has fallen in love with. Factor into your thinking the expenses of keeping up your home for several more months versus accepting a lower selling price or letting something go with the home and having the sale done right now.
Even in the most sluggish real estate market, getting ahead of the curve with a little extra effort may be the key to a quick sale in a sluggish or off-season market.
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