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        <title>Sarasota Real Estate Blog - Sarasota Real Estate News</title>
        <link>http://www.luxurysarasotarealestate.com/blog/miscellaneous/</link>
        <description>Get your fill of the latest Sarasota real estate news. This Sarasota blog is updated frequently with homes for sale, recently sold homes and condos, market updates and plenty of other valuable information.</description>
        <item>
            <guid>http://www.luxurysarasotarealestate.com/blog/cash-how-much-off.html</guid>
            <link>http://www.luxurysarasotarealestate.com/blog/cash-how-much-off.html</link>
            <author>marc@luxurysarasotarealestate.com (Marc Rasmussen)</author>
            <title>Cash - How Much Off?</title>
            <description> <![CDATA[ 



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 price/list price




Cash transactions had an average discount of 7%.


 


Let's break it down even further by price range.


Sold Properties - $0 - $100,000




1,120 properties sold


$64,846 - average sales price


94% - average sales price/list price




Sold Properties - $100,001 - $200,000




770 properties sold


$141,690 - average sales price


94% - average sales price/list price




Sold Properties - $200,001 - $300,000




318 properties sold


$244,495 - average sales price


92% - average sales price/list price




Sold Properties - $300,001 - $500,000




238 properties sold


$379,115 - average sales price


92% - average sales price/list price




Sold Properties - $500,001 - $1,000,000




121 properties sold


$687,984 - average sales price


90% - average sales price/list price




Sold Properties - Above $1,000,001




61 properties sold


$1,765,794 - average sales price


88% - average sales price/list price




As expected, the higher you go in price the larger the discount. Properties over $1,000,000 have a 12% discount on average while homes under $100,000 only have an average discount of 6%


 What about the barrier islands? Do you see smaller or larger discounts with a cash offer? Let's analyze sold properties based on locations.


Siesta Key Sold Properties




211 sold properties in the last 6 months


131 or 62% of these sales were cash transactions


$448,753 - average sales price


90% - average sales price/list price




Longboat Key Sold Properties




122 sold properties in the last 6 months


83 or 68% of these sales were cash transactions


$710,310 - average sales price


89% - average sales price/list price




Lido Key/St. Armands Circle Sold Properties




22 sold properties in the last 6 months


15 or 68% of these sales were cash transactions


$889,752 - average sales price


92% - average sales price/list price




Bird Key Sold Properties




12 sold properties in the last 6 months


7 or 58% of these sales were cash transactions


$2,352,143 - average sales price


82% - average sales price/list price




Casey Key Sold Properties




11 sold properties in the last 6 months


9 or 82% of these sales were cash transactions


$1,465,556 - average sales price


80% - average sales price/list price




Downtown Sarasota Sold Properties




133 sold properties in the last 6 months


102 or 77% of these sales were cash transactions


$376,829 - average sales price


90% - average sales price/list price




Again, the higher end markets tend to have more cushion in their asking prices. Casey Key and Bird Key have an average discount of 80% and 82%.


I hope this clears up the mystery a bit about expected cash discounts. In the higher price ranges you can probably expect a 10-20% discount from asking price. This obviously depends on the seller's motivation level and other buyer interest. Properties under $1 million can generally expect discounts of less than 10% when paying cash.


Please give us a call at 941.812.6272 if we can help you buy or sell a home in Sarasota.
 ]]> </description>
            <pubDate>Tue, 24 Jan 2012 11:14:53 -0500</pubDate>
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            <guid>http://www.luxurysarasotarealestate.com/blog/truliacom-inaccurate-data.html</guid>
            <link>http://www.luxurysarasotarealestate.com/blog/truliacom-inaccurate-data.html</link>
            <author>marc@luxurysarasotarealestate.com (Marc Rasmussen)</author>
            <title>Trulia.com - Inaccurate Data</title>
            <description> <![CDATA[ 
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 innacurate information on almost any real estate website. However, it seems more prevalent with the national real estate sites like Trulia, Zillow and Movoto. In the Palm Bay Club listing above Trulia shows the source as HomesandLand.com. That is most likely the source of the error. When you pull your data from various sources you are relying on those website to be accurate. Obviously, they aren't.


LuxurySarasotaRealEstate.com pulls it data directly from MyFloridaMLS.com. This is the MLS system that Sarasota Realtors use to find and list property. It is the most accurate source.


Why Some Realtors Hate Trulia


I don't really hate Trulia. Even though some of their data is innacurate I think they have done a great job with their website.


Some Realtors really have a problem with Trulia's business model. In a nutshell here is how it works. Realtors spend their time, energy and money to get listings (home sellers). They put those homes and condos for sale on the MLS system. Trulia pulls the listing data from the MLS system as well as several other sources in an effort to attract visitors and buyers to their website.  Trulia then sells buyer leads and advertising back to the Realtors (even to the ones who listed the property in the first place). I happen to think it is quite clever but not all Realtors are big fans.
 ]]> </description>
            <pubDate>Tue, 13 Dec 2011 07:54:43 -0500</pubDate>
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        <item>
            <guid>http://www.luxurysarasotarealestate.com/blog/forbescom-sarasota-florida-1.html</guid>
            <link>http://www.luxurysarasotarealestate.com/blog/forbescom-sarasota-florida-1.html</link>
            <author>marc@luxurysarasotarealestate.com (Marc Rasmussen)</author>
            <title>Forbes.com - Sarasota, Florida #1</title>
            <description> <![CDATA[ 
More good news for the Sarasota Florida real estate market. Take a look at this article:


Forbes.com - Where Americans Are Hunting For Homes


 


All of the top 10 cities “picking up strength” are in the Sun Belt. Florida dominates the list with five snow bird hubs in the top 10: the North Port-Bradenton-Sarasota area (No.1), Fort Lauderdale-Pompano Beach  (No. 4), Cape Coral-Fort Myers (No. 5), West Palm Beach-Boca Raton (No. 6), and Orlando-Kissimmee-Sanford (No. 10).


In Bradenton a little over six times as many people from outside the area were looking for properties there as the number of people living there looking for properties elsewhere.


Another sign of improving health in the Florida real estate market: Existing home sales along the coasts picked up somewhat dramatically this year, even in the slower summer and early fall months.


...both investors looking to purchase rental properties and Baby Boomers scouting for vacation and/or retirement properties are hunting for bargains in floundering housing markets in Florida and California. “Part of the long term trend is Baby Boomers moving toward retirement, and some of those that put off their searches while home prices were skyrocketing in the Sun Belt, are now looking again because prices have fallen so much.”


Give us a call at 941.812.6272 if we can help you buy or sell a property in Sarasota, Florida
 ]]> </description>
            <pubDate>Tue, 06 Dec 2011 08:13:18 -0500</pubDate>
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            <guid>http://www.luxurysarasotarealestate.com/blog/welcome-karin-swanson-to-dwell-real-estate.html</guid>
            <link>http://www.luxurysarasotarealestate.com/blog/welcome-karin-swanson-to-dwell-real-estate.html</link>
            <author>marc@luxurysarasotarealestate.com (Marc Rasmussen)</author>
            <title>Welcome Karin Swanson to DWELL Real Estate</title>
            <description> <![CDATA[ 
 


We would like to welcome Karin Swanson to DWELL Real Estate. Allison, Shayla and I are excited to have her join our team. I originally met Karin at SKY Sotheby's (now Signature Sotheby's) back in 2006 where she won awards for being a top producer. Some of her sales accolades include:




Winning Mini Cooper car for highest production.


After joining SKY Sotheby's Karin sold first house in 17 days.


First quarter in business she sold $3 million worth of property.




In 2008, Karin joined the St. Armands Circle office of the prestigious Michael Saunders and Company. Karin is a true professional with extensive market knowledge and endless drive to help her clients achieve their goals.


Please congratulate her. For her real estate services give her a call at 941.321.1111.
 ]]> </description>
            <pubDate>Mon, 07 Nov 2011 11:25:39 -0500</pubDate>
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            <guid>http://www.luxurysarasotarealestate.com/blog/sarasota-chalk-festival-photos.html</guid>
            <link>http://www.luxurysarasotarealestate.com/blog/sarasota-chalk-festival-photos.html</link>
            <author>marc@luxurysarasotarealestate.com (Marc Rasmussen)</author>
            <title>Sarasota Chalk Festival Photos</title>
            <description> <![CDATA[ 
The weather was fantastic this weekend. I took the family over to the Sarasota Chalk Festival on Sundat to check out some of the great art work. Sarasota is blessed to have such a vibrant arts community.


2011 Theme: 'Pavement Art Through the Ages'


Coming November 1 – 7, The 2011 Sarasota Chalk Festival, ‘Pavement Art through the Ages’, will trace the evolution of this ephemeral art-form from its thinly documented ancient roots to today’s diverse contemporary movements. A Gallery show featuring and curated by Kurt Wenner will be hosted by the Ringling College of Art and Design that will display historical documentation of Pavement Art and innovations of his own art on pavement.


More information on Sarasota Chalk Festival


Photos of Sarasota Chalk Festival

























































 ]]> </description>
            <pubDate>Mon, 07 Nov 2011 06:47:03 -0500</pubDate>
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        <item>
            <guid>http://www.luxurysarasotarealestate.com/blog/opening-my-own-brokerage-dwell-real-estate.html</guid>
            <link>http://www.luxurysarasotarealestate.com/blog/opening-my-own-brokerage-dwell-real-estate.html</link>
            <author>marc@luxurysarasotarealestate.com (Marc Rasmussen)</author>
            <title>Opening my Own Brokerage - Dwell Real Estate</title>
            <description> <![CDATA[ 



I took the leap. As of last Friday, I left Michael Saunders and Company and started my own Sarasota real estate brokerage – Dwell Real Estate.  You may be thinking, “Why in the world would anyone open a real estate brokerage in Sarasota, Florida when so many other companies have gone bust?”


Great question.


Michael Saunders and Company


First, I would like to say that my time of over 3 years at Michael Saunders and Company was fantastic. I have the utmost respect for Michael, Drayton, the management team and the fabulous Realtors that work there. At a time when many real estate agents are leaving the business, brokerages are shrinking or going out of business Michael Saunders and Company has thrived. I don’t think anyone can deny that they have a successful business model. In a challenging market like this, you don’t succeed by accident or luck.


I have been selling Sarasota real estate since 2000 and have been associated with 3 large brokerages – RE/MAX Alliance, SKY Sotheby’s (now Signature Sotheby’s) and Michael Saunders and Company. All three companies are successful and well respected in the area. At each company I observed what made the Realtors and the clients they served happy and unhappy and plan to use this knowledge at my new firm.


In a nutshell, we are going to create an energetic, fun environment of real estate professionals who provide unparalleled service to their clients.


My Team


I am happy to announce that my team is coming with me. Both Shayla Twit and Allison Werner are making the jump as well. Since 2005 the Sarasota real estate market has been very challenging. Anyone who owns a home, pays attention to the news or is in the real estate industry will agree me. Fortunately, Allison, Shayla and I have survived and some might say thrived in a tough market. Perhaps we are doing something right. ;-)


Our Office


Dwell Real Estate offices will be located in a downtown Sarasota, Florida location. Since we are selling properties in Sarasota, Siesta Key, Casey Key, Lido Key, Longboat Key, Bird Key, Lakewood Ranch and Bradenton we chose the downtown area since it is centrally located.


Even though there are only three of us (for now) it has not affected our ability to provide our clients with superior service and market knowledge. If anything, it has made us hungrier and even more eager to put a smile on the faces of our clients. 


At the end of the day the service you receive will not necessarily depend on the real estate brokerage you are working with but with the individual Realtor who represents you.


Why Open Dwell Real Estate?


To put it simply, we believe in ourselves, are excited about our future and the future of the Sarasota real estate market. Below is a chart showing inventory, sales and pending sales for Sarasota county.





As you can see above property sales are up and the inventory of homes and condos have dropped substantially over the last 5 years. We think the future of this area is bright.


Please wish us luck and of course give us a call at 941.812.6272 if we can help you buy or sell a home in the Sarasota area.
 ]]> </description>
            <pubDate>Mon, 24 Oct 2011 07:26:57 -0400</pubDate>
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            <guid>http://www.luxurysarasotarealestate.com/blog/securing-your-vacation-home.html</guid>
            <link>http://www.luxurysarasotarealestate.com/blog/securing-your-vacation-home.html</link>
            <author>marc@luxurysarasotarealestate.com (Marc Rasmussen)</author>
            <title>Securing Your Vacation Home</title>
            <description> <![CDATA[ 
Written by: HomeSecurityFamily.com





Most people understand, at least to some extent, how to take care of and protect their homes. There is, after all, a huge range of home security advice out there for homeowners, and a good deal of home security is actually based in common sense. However, what many people – even those with a good deal of common sense – do not always consider, is how to take care of a vacation home. If you have a vacation home, you have probably looked into some of the basic principles of upkeep and security; however, there may be some ways of securing your home that you are unaware of, which could be hugely beneficial. For more details on some of the following discussion, visit http://www.homesecurityfamily.com. 

One good example of a home security tool that not many people consider is security camera systems. Though most people don’t realize it, a number of professional security companies actually offer installation of these systems in homes. Of course, many people see this as a bit excessive, and think that it’s more normal for security cameras to be reserved for offices and other similar settings. However, if you are attempting to secure a house that you do not regularly live in, a security camera system is a great idea. With one of these systems, you will be able to record any harmful or undesired activity in or around your vacation home. 

Another thing that you will want to consider when securing your vacation home is an alarm system that is hooked up to your cellular network. In the past, alarm systems did not have this capability, and while they were still effective in identifying and deterring threats, homeowners had less control over them. These days, however, you can set your system up in a way that allows you to activate and monitor it from your cell phone, giving you remote access to your home’s security. This is particularly helpful for a vacation home, in that you can control security from a distance, and activate or deactivate your system whenever necessary. 

Of course, ultimately decisions regarding the security of your properties are entirely up to you, and the level of protection that you obtain depends on your independent needs and desires. However, particularly if you are hoping to secure a property at which you do not permanently reside, some of the features listed above can be quite helpful. A vacation home is a serious investment, and you should go to great lengths to make sure that it stays safe from intrusion or vandalism.
 ]]> </description>
            <pubDate>Mon, 19 Sep 2011 09:58:15 -0400</pubDate>
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        <item>
            <guid>http://www.luxurysarasotarealestate.com/blog/home-prices-rising-in-sarasota.html</guid>
            <link>http://www.luxurysarasotarealestate.com/blog/home-prices-rising-in-sarasota.html</link>
            <author>marc@luxurysarasotarealestate.com (Marc Rasmussen)</author>
            <title>Home Prices Rising in Sarasota</title>
            <description> <![CDATA[ 



A funny thing can happen when supplies shrink and demand is good - prices will eventually rise. Today in the Sarasota Herald Tribune there is an article titled - Region makes national list of recession-resistant cities for real estate. The article talks about a recent Forbes article using Zillow data to create a list of "America's Recession-Resistant Cities For Real Estate." Using data from Zillow.com, the Forbes article states that Sarasota real estate prices have begun to appreciate. Several cities in Florida made the list.


Excerpts from Sarasota Herald Tribune article:



"To real estate professionals and other observers in Southwest Florida, 
there has been a clear stabilization in pricing for 2011."



"These are not markets where the economy as a whole has necessarily 
improved," Michael Saunders, founder of the real estate brokerage of the
 same name, wrote on her blog this week. "Instead, they are places where
 -- in spite of high unemployment and other economic challenges -- real 
estate is showing marked signs of improvement after having spent the 
better part of the past five years correcting over-inflated prices born 
of the boom."


"The resulting list had five Florida cities: Fort Myers at No. 2, Port 
St. Lucie at 6, Sarasota at 7, Destin at 10 and Punta Gorda at 18. That 
was more than any other state."



What does this mean for home buyers?


It simply means that you are running out of options. There are still great homes out there for sale however just not as many. Our inventory levels are the lowest they have been in over 5 years. 


Buyers DO NOT have the leverage they used to. Don't walk into a home and expect the seller to bend over backwards for you. Remember, the average discount from the last (not original) seller asking price is hovering around 5-6%.


What does this mean for home sellers?


The good news is that you have more leverage now. There are fewer of you out there and thus less competition. This doesn't mean that you should call your Realtor and have him raise your asking price. It is not a sellers market. There is roughly 6 months of inventory in Sarasota county which means it is fairly balanced. Read Sarasota Real Estate Inventories Fall Again for more useful statistics.


Obviously, this is welcome news to many. Hopefully, prices will continue to rise slowly and steadily to bring more confidence back into the market and economy. 


Give us a call at 941.812.6272 if we can help you buy or sell a home in the Sarasota, Florida area.
 ]]> </description>
            <pubDate>Wed, 31 Aug 2011 13:47:55 -0400</pubDate>
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            <guid>http://www.luxurysarasotarealestate.com/blog/5-tips-to-finding-a-home.html</guid>
            <link>http://www.luxurysarasotarealestate.com/blog/5-tips-to-finding-a-home.html</link>
            <author>marc@luxurysarasotarealestate.com (Marc Rasmussen)</author>
            <title>5 Tips to Finding a Home</title>
            <description> <![CDATA[ 
By: Allison Werner





When you are at the stage where you are seriously
thinking of making a move, there are a few essential steps that will help
everything go as smoothly as possible:




Figure
out the price range that is comfortable for you.  If you plan to acquire financing it is a good
idea to speak with a lender before you even begin seeing homes.  This ensures that all of your questions are
answered, that you’re looking at the right homes, and that once you find the
one you’ll be ready to move forward and submit an offer accompanied by your
preapproval letter.  If you plan to pay
cash, it is helpful to have a bank statement or letter from your bank stating
that you have the funds available to purchase within the price range you are
looking.


Enlist the
help of a professional Realtor! 
Trying to buy a home without an expert in the local market and purchase
process in your corner really puts you at a disadvantage for a few
reasons.  First, Realtors can help you
narrow down the areas that will fit your lifestyle and budget much more
efficiently than most buyers are able to do on their own.  Secondly, Realtors negotiate offers regularly
and can be very effective at justifying a price – as a buyer, you definitely
want one on your side.  Finally, from
submitting your offer to finding a qualified inspector, a Realtor can guide you
through the process.  You wouldn’t try to
represent yourself in court or fix your own broken arm, so why try to buy a
house, which is one of the biggest financial decisions of your lifetime,
without professional help?


Prioritize
what is important to you.  Are you a
golfer who really wants to cart around a golf community?  A person who love to cook and needs a nice
spacious kitchen?  What about distance to
work and other amenities?  It helps to
have a general idea of which of these factors will be most important to you
when you start your search.


Look at
homes you can afford.  If you are
able to buy a house for $300,000, please do not look at houses that are priced
at $400,000.  The average home in
Sarasota is now selling for 94% of the price it is listed at.  Some sell for less, but no one is selling
their homes at half of the list price or anywhere near that, no matter what you
have heard.


Educate
yourself about the market.  Your Realtor
can help you a lot with this, but often it is also beneficial to do things like
explore neighborhoods and sometimes even drive by homes you think you’ll
like.  The internet is also a good place
to start and your Realtor can send you information on properties this way too.


 ]]> </description>
            <pubDate>Mon, 08 Aug 2011 13:44:25 -0400</pubDate>
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        <item>
            <guid>http://www.luxurysarasotarealestate.com/blog/handling-multiple-offers.html</guid>
            <link>http://www.luxurysarasotarealestate.com/blog/handling-multiple-offers.html</link>
            <author>marc@luxurysarasotarealestate.com (Marc Rasmussen)</author>
            <title>Handling Multiple Offers</title>
            <description> <![CDATA[ 
by: Allison Werner





People frequently ask me how the market is doing and my
answer recently is that things are VERY active.  We have been seeing lots
of buyer activity, even in these typically slower summer months.  I
personally have been involved in quite a few multiple-offer situations this
year and they have been both on bank-owned properties (where this situation is
most common) and also on regular arm’s-length sales. 


Recently a listing of mine was active on the market for
about 30 days and then received not one, not two, but THREE OFFERS in one
day!  There were about 15 showings in the first month but no offers, then
the interest peaked one weekend.  We made sure to price the property right
from the start, which is the most important factor in our market now.  Due
to the multiple-offer situation, we are now submitting an offer to the bank
that is 97.5% of the original list price of the home.  That is in contrast
the 94.5% market average sale price to list price ratio now!


If a property isn’t priced right, it isn’t going to
sell.  Period.  Here are a few tips for multiple-offer situations:


If you are a seller:


-         
Price  it right from the beginning! 
Homes get the most attention in the first 14 days that they are on the market,
so don’t waste that time being overpriced.  Sellers who do often end up
chasing the market down and with a lower price in the end then if they started
out with a more realistic price from the beginning.


-         
Make sure you prepare for showings and that the
home looks its very best.  This includes decluttering and making sure the
home is clean, as well as the old tricks of opening the blinds, turning on the
lights, and even playing soft music – they really work!  The three-offer
home I mentioned above had a large dog and a baby, but it always looked
meticulous and smelled fresh.  Even if you’re priced right, you still need
people to like the house.


-         
Find a competent agent to work with you who can
assist you in pricing well and throughout the sale process.  


If you are a buyer:


-         
Don’t be afraid to offer more than list price
and always bring your highest and best offer.  I was working with buyers
on a sale where theirs was one of three offers.  They decided to offer
$1000 above the list price and they not only were the best offer but still got
a great deal because the home was SO well-priced to begin with.


-         
It is important to look with your Realtor at the
comparable sales in the area.  If the list price is $250,000 but
everything has been selling for $275,000 or more and there are multiple offers,
slightly under list probably isn’t going to cut it.


-         
The terms of the offer can also make a
difference.  Try to be flexible on things like timeframes and the amount
of money in escrow if you can.  


-         
I always advise my buyer clients who are
involved in multiple-offer situations to offer the highest amount that they
feel comfortable paying for the home.  Buyers and buyers’ agents are not
allowed to know what the other offers are, so I can tell my clients what the
home really SHOULD be selling for based on market info but if it is worth more
or less to them personally then that is their call. 
 ]]> </description>
            <pubDate>Mon, 01 Aug 2011 12:41:50 -0400</pubDate>
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