Bird Key

Below is press release from the Sarasota Association of Realtor. Here are the highlights:

• More than 1,000 properties sold in April 2013. 
• This is the first time sales have hit four figures since June 2005.
• There have only been ten months in SAR's 90-year history that sales have topped 1,000. The otehr 9 occured in 2004 and 2005
• 14% increase over April 2012
• April 2013 median sales price - $217,000
  
• April 2012 median sales price - $175,000
• Pending sales were at 1,097, slightly lower than last month's figure of 1,221 and slightly up from last April's figure of 1,068.
  
• The inventory is down almost 19 percent since April 2012.
  
• The April 2013 months of inventory were 3.2 months for single family and 3.9 months for condos, with both…

A little free press doesn't hurt. Below is an article from the Sarasota Herald Tribune about all of the fabulous sales in the luxury home and condo market. They were nice enough to quote me. Here is a link to the article - Sarasota luxury sales hit 4 month high. 

Sarasota luxury sales hit four-month high

Luxury homes sales in Sarasota County hit a four-month high in April, driven by a shrinking inventory of high-end properties and the seasonal upswing in real estate activity.

Forty-six luxury residences priced over $1 million changed hands for a total of $85.3 million last month.

That topped the 40 single-family homes and condos that sold for $72.1 million in March, and outstripped the 36 sales for $76.4 million in April…

If you really want to annoy a Realtor ask them to help find you a home and then buy the home through a different Realtor. Like many agents I have been burned this way in the past but not so much anymore.

I was recently contacted by someone asking for help in buying a home. One of the questions I ask everyone is, "Are you represented by a Realtor?" This person said, "Yes, I have been working with a close friend." Not everyone knows how real estate works so I explained to this person how the real estate process works and how that they need only hire one good Realtor to represent them.

Mid Florida MLS

All Realtors who pay their MLS fees have access to the Mid Florida MLS which contains all properties for sale. This is a big database of…

If you read this blog consistently then you probably won't be surprised by the following news about how well the Sarasota real estate marketing is doing. Here is a press release from the Sarasota Association of Realtors. 

I was poking around my blog this morning and ran across this post from December 2010 - "I'm only interested in short sales and foreclosures."

I added this picture to the post because it was how many agents and myself felt. Virtually every buyer we spoke with mentioned how they were only interested in short sales and foreclosures. 

Things have changed over the last 2 years. Buyers are not as adamant about finding a distressed home. In many prices segments buyers are just hoping to purchase without having to compete with other buyers in a multiple offer situation. 

Here is how today's market compares with December 2010 for distressed properties:

Where do today's home buyers come from?

The National Association of Realtors (NAR) conducts surveys every year to help us Realtors figure out where to spend our time and money. It is interesting to see that 86% of home buyers come from the internet, a Realtor or a yard sign. Newspaper and magazine ads are responsible for producing less than 3% of buyers. 

Looking for this view? The waterfront is one of the most sought after segments of the Sarasota real estate market. That is totally understandable. Who wouldn't want to sit on their terrace or lanai sipping a tasty beverage while watching a gorgeous sunset? Because everyone seeks the water it remains the most expensive segment of the real estate market. 

5 Most Expensive Sales in Sarasota in 2013

As you can see the most expensive sold properties this year have all been on the water. 

• 3410 Flamingo Avenue - $10,000,000
• 1452 Hillview Drive - $7,000,000
• 1630 Bay Harbor Lane - $2,300,000
• 4178 Roberts Point Circle - $2,125,000
• 309 S. Washington Drive - $1,785,000

Sarasota Waterfront Foreclosures

Below are some recently…

How do you figure out the value of a property?

• It is not the price you paid for the home plus improvements and real estate commissions.
• It is not how much your friend, in-laws, attorney, accountant, sister with a real estate license, neighbor or anyone else thinks your house is worth unless they are willing to buy it at that price and you are willing to sell it at that price.
• It isn’t what you paid for the home plus a needed or expected rate of appreciation.
• It isn’t more than what your neighbor’s house sold for because you like your house better.

I recommend you read Wikipedia's page on Real Estate Appraisal to give you a great understanding on how to determine the value of…

If you have ever been to an open house or inquired about a property for sale you have probably been asked by the agent, "Are you working with a Realtor?" This is one of the most important questions an agent can ask a potential buyer. Here are 3 reasons why agents ask this question.

1. Agents are required to adhere to our Code of Ethics. 

Standard of Practice 16-9
REALTORS®, prior to entering into a representation agreement, have an affirmative obligation to make reasonable efforts to determine whether the prospect is subject to a current, valid exclusive agreement to provide the same type of real estate service.

Ethical agents don't want to “poach” someone else's client. We often invest a lot of time, energy and money into our clients…

Tips & Information for Prospective Home-Buyers

• Why should I work with a Realtor?

Oh, so many reasons!  Since you are reading this, you probably already know it is a good idea to work with a professional on what is likely the largest purchase you will ever make.  Good call, by the way! 

A few things you may not know:

• As a buyer, there is NO downside to working with a real estate professional.  Your agent will get paid by the seller, no matter if the sale is traditional, a short sale, or the sale of a bank-owned property, so it will not cost you anything financially.
• Realtors have access to the MLS, which is the most accurate and comprehensive database of available homes that exists.  Top that, Trulia!  So working with a…