Sarasota Real Estate Blog - Sarasota Real Estate News

Are prices in Sarasota, Florida rising yet?

It depends on where you look. Here is a concrete example of where prices have risen. Take a look at the Marquee en Ville condos in downtown Sarasota.

These are the hip looking modern townhouses on Fruitville road. From this location you can walk to all of the amenities of downtown Sarasota. The difference between these and other downtown condos is that you get over 2,000 square feet and a 2 car garage whereas most other condos are in a high rise with less square footage.

In early 2010 I sold one of these townhouses for $360,000. You can see the blog post here - 235 Cocoanut Avenue. In 2010, there were 6 sales in Marquee en Ville from $325,000 to $385,000.

Take a look at what they are selling for…

Is Sarasota a cheap or expensive real estate market? I guess it depends on who you talk to. Someone coming from Manhattan might view this area as a bargain. Another buyer from Detroit, Michigan might view Sarasota as very expensive. It is all relative to what you are used to.

Sarasota vs. Vail

I am on vacation this in Vail with my family. Even though this is a vacation I am still observant when it comes to real estate. We are staying in the Lionshead area of Vail which is within walking distance to a gondola and a few chair lifts. It would be the equivalent of buying on the beach in Sarasota (Siesta Key, Longboat Key, Lido Key).

Our condo is in the Antlers condo community which is a nice 2 bedroom, 2 bathroom with roughly about 900 square feet.…

This is a follow up to last week's post - 50% off?

Clients often ask us what kind of discount they can expect to receive in an all-cash transaction. Sellers love receiving cash offers and typically will discount their home a little more because of no mortgage headaches. However, the discount is not as great as most people think. Below are sales statistics in Sarasota county for sold properties in the last six months.

Sarasota County Sales in the Last Six Months

• 4,171 - Number of properties sold
• 2,628 - Cash transactions
• 63% of all transactions were cash
• $5,250,000 - Highest sales price
• $2,500 - Lowest sales price (could be a reporting error)
• $206,474 - Average sales price
• $119,900 - Median sales price
• 93% - sales…

Foreclosures....Bank Owned....Short Sales....REO's

These are popular buzz words in today's real estate world. We talk to buyer daily and often hear "Super Deal!", "Sweet Deal!, "Great Deal!" or something similar. That is perfectly ok. Today is a fabulous time to take advantage of the depressed real estate market.

How much can knock off these foreclosures and short sales?

Many home buyers come to Florida with the misconception that you can immediately take off 30-40% from the list price of these distressed properties. Let's see how much you can expect to get.

I ran a search on MyFloridaMLS to show me all single family homes and condos that are either foreclosures or short sales sold in 2011 in Sarasota county. Here are the…

I just listed a remodeled 1 bedroom, 1.5 bathroom condo in the Lido Regency building on Lido Key. This is the perfect place for those looking to escape the cold northern winters or a small weekend getaway to get from the daily grind. You can dip your toes in the Gulf of Mexico within seconds of this lovely condo.

1700 Ben Franklin Drive #4F

2311 Tanglewood Drive

For the full year 2011, property sales of members of the Sarasota Association of Realtors® jumped by 8.2 percent to 8,224, achieving the highest level since 2005. The surge in sales was accompanied by stabilization in the median sale prices, which now stand at $155,925 for single family homes and $156,800 for condos over the full year, and have not fluctuated much for the past 12 months.

Once again, the market has demonstrated that Sarasota is a destination of choice for many homebuyers. For the overall year of 2011, the resurgence in sales was dramatic, and represents a 44 percent increase over the low point of the downturn in 2008, when only 5,820 properties changed hands.

"This is really incredible news, and demonstrates how far this market has…

I was showing homes in Trillium the other day and noticed the sign in front of this one. I didn't see it inside but the photos look fantastic. Take a look at the images and information of 7509 Trillium Blvd. in Sarasota.

Give us a call at 941.812.6272 if you want to see it.

I sat down with some folks recently in the office who were thinking of buying a vacation property in the Sarasota area. They had looked at property here roughly a year and a half ago. Like many, they were surprised at how little there was for sale in our market.

Just like the weather, real estate is local. You won't hear a national weatherman say. "The average U.S. temperature is going to be 72 degrees." If the market is bad in Fargo, North Dakota it doesn't mean that the Lakewood ranch market will be the same. Despite bad national economic and real estate news the Sarasota market is doing well.

Sarasota Inventory

Like other goods, the price of real estate is mostly dictated by supply and demand. If you have rampant buying with dwindling…

I just listed this fantastic condo in the Palm Bay Club community on Siesta Key. What a fabulous escape from the harsh northern winters. Enjoy Florida beach living in this well maintained 2 bedroom/2 bathroom condo within footsteps of one of the prettiest beaches you will ever see. One of the great features about Palm Bay Club is short term rentability. There is an on-site rental office which easily handles all of the renting for you.

Inside the Palm Bay Club community are amenities that provide endless entertaining activities to its residents and guests such as boat docks, fishing piers, yacht basin, private clubhouse, heated swimming pools, fitness center, game rooms, and tennis courts. In addition, there are picnic groves and barbecue facilities,…