Longboat Key Real Estate

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…

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…

We are busy, busy, busy. It seems like the busy selling season is starting early. I put two Longboat Key properties under contract in the last 30 days. One of my client put a home under contract tonight. Karin Swanson has listed two properties & put two properties under contract in the last 30 days. She also wrote an offer today that may result in a 3rd successful contract. Allison Werner has put two properties under contract in the last 30 days, received 3 offers on one of her listings and wrote another offer today. Shayla Twit put 3 properties under contract in the last month and is showing property every single day this week.

**** 12/20/2011 Update ****

Karin Swanson has been busy showing downtown Sarasota condos. Shayla Twit wrote another offer…

Clients of mine just purchased a great unit in the Beachplace condo complex on Longboat Key. This unit is a 2 bedroom, 2 bathroom, 1,503 square foot condo directly on the beach looking west over the tranquil blue waters of the Gulf of Mexico. This was a Longboat Key short sale.

It was originally listed in September of 2010 for $941,500. In November of 2010 the price was dropped to $725,000. In December of 2010 the unit went under contract. In April of 2011 the condo came back on the market and was priced at $652,500. A couple of days later the condo went under contract again. Last month, in November, the short sale was finally approved however they buyer had walked from the transaction. The bank approved the sale at $650,000. My buyers came in and…

Be careful using Trulia to find your next Sarasota home. I have noticed several inaccuracies on the website over the years. Here is an example:

Above you will see a screen shot I took from Trulia that shows a listing in Palm Bay Club on Siesta Key for $500,000. However, there is no such listing in the community (here is everything for sale). Trulia has this property listed as MLS#A3935725. If you search our actual MLS system you will see a condo for sale in Island House on Siesta Key. Below is a screen shot from this website showing the property. So not only does Trulia show a listing in Palm Bay Club that does not exist but it also provides an MLS# that goes with a completely different property.

You will probably find…

I just added some New Listings pages to the website. These pages will be very useful for those looking to stay on top of the Sarasota real estate market. My site and these pages are updated several times a day so you are sure to receive fresh information. Below are the links to my new listings pages:

• Sarasota New Listings
• Siesta Key New Listings
• Longboat Key New Listings
• Bird Key New Listings
• Casey Key New Listings
• Lido Key New Listings
• Lakewood Ranch New Listings

Give us a call at 941.812.6272 if we can help you buy or sell a property in the Sarasota, Florida area.

More good news for the Sarasota Florida real estate market. Take a look at this article:

Forbes.com - Where Americans Are Hunting For Homes

Searching for a luxurious weekend getaway, winter escape or retirement condo? Below are several Longboat Key beach condos under $500,000 with water views.

Longboat Key

One of Florida's most valued treasures is located off the coast of Sarasota, Florida. This 11 mile long barrier island has a variety of housing options which offers both full-time and part-time residents a luxurious lifestyle in the Florida sunshine. This is a popular hotspot for those looking to escape the northern winters. Instead of shoveling snow you could be walking down Longboat Key beach in your flip flops enjoying the bright sunshine and comfortable weather. Enjoying the beach, boating around the Sarasota bay, shopping on St. Armands Circle, enjoying a tasty meal with friends…