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        <atom:link href="http://www.luxurysarasotarealestate.com/blog/tags/sarasota-real-estate/rss/" rel="self" type="application/rss+xml" />
        <title>Sarasota Real Estate Blog - Sarasota Real Estate News</title>
        <link>http://www.luxurysarasotarealestate.com/blog/tags/sarasota-real-estate/</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/just-sold-siesta-key-canal-home.html</guid>
            <link>http://www.luxurysarasotarealestate.com/blog/just-sold-siesta-key-canal-home.html</link>
            <author>marc@luxurysarasotarealestate.com (Marc Rasmussen)</author>
            <title>Just Sold - Siesta Key Canal Home</title>
            <description> <![CDATA[ 
Congratulations to clients of Jim and Jamey Hirschman for buying 5073 Higel Avenue. This immaculate Siesta Key canal home has 3 bedrooms, 3.5 bathrooms and 2,466 square feet. I have shown this home several times and thought it was a great waterfront home.


The asking price was $899,900 and it closed for $840,000 (public record).


5073 Higel Avenue


The "wow" factor will be the first thing you think about upon entering the front door of this totally and perfectly renovated and expanded canal front home made for families and entertaining.Fabulous gourmet kitchen, an expansive center island with Viking stainless steel appliances including a warming oven. Three bedrooms 3.5 baths with close to 3000 square feet of living space highlighted with porcelain tile, walnut wide plank wood floors,recessed lighting, granite, custom cabinets, electric fireplace, French doors, laundry and exercise rooms and paver brick patios scattered all around this beautifully tropical landscaped property with a summer kitchen grill area nestled among the trees.A heated salt water pool and spa, boat dock and lift with a 2-car garage, new roof and 2 new air-conditioners complete this absolutely stunning residence. Minutes to Siesta Village and our #1 Siesta Key Beach.

















Photos courtesy of Sylvia Zimmerman of Michael Saunders and Company
 ]]> </description>
            <pubDate>Tue, 22 May 2012 09:13:50 -0400</pubDate>
                    </item>
        <item>
            <guid>http://www.luxurysarasotarealestate.com/blog/april-2012-sales-hit-a-new-seven-year-high.html</guid>
            <link>http://www.luxurysarasotarealestate.com/blog/april-2012-sales-hit-a-new-seven-year-high.html</link>
            <author>marc@luxurysarasotarealestate.com (Marc Rasmussen)</author>
            <title>April 2012 Sales Hit a New Seven-Year High</title>
            <description> <![CDATA[ 
There seems to be no stopping the Sarasota real estate market! April 2012 saw yet another seven-year high for monthly sales, hitting 886 total closed transactions. The figure topped last month's 831 sales by 6.6 percent.It was the highest number of sales since August 2005, and when there were 908 total sales. The breakdown was 589 single family home sales and 297 condo sales. Last April, the totals were 546 homes and 226 condos for a total of 759 overall sales, so the jump was about 17 percent year-to-year. In addition, pending sales (which represent properties that went under contract during the month) remained very high at 1,068, the third straight month that topped 1,000, and a major indicator of the future direction of the market. Last year's spring surge didn't slow down until July, and the numbers seem to indicate there remains strength in the current market dynamics.

"We've had an incredible string of positive numbers in the Sarasota real estate market, and we hope for a consistently strong market going forward," said SAR President Laura Benson. "I'm hopeful that this will be the case, because we seem to be leading the nation into the real estate market recovery. The national economy continues to improve, employment numbers are better, and we're in the perfect marketplace in Sarasota."


In addition to the amazingly high level of sales, the median sale price for both categories remained at the highest levels of the year in April. The median sale price for condos was $191,750, almost identical to the March figure of $192,000, a level not seen since May 2011. Single family was at $175,000, just above last month's figure of $174,900, and a level not reached since June 2011. Single family home prices remain at a level 21.4 percent higher than the low of the market reached 13 months ago, while condo prices are almost 30 percent higher than the low point.


The reason for the price resurgence is likely tied to the lower number of distressed property sales. The total number of distressed sales, foreclosures and short sales, fell to only 31 percent, down slightly from last month's 32 percent figure - a new three-year low.


Currently, only 621 properties for sale in the MLS are short sales or foreclosures, down from last month's figure of 701 properties. This represents about 14 percent of available properties, down from last month's 15 percent figure. In February 2012, the number was 740 (16 percent of the market), and in January 2012 it was 812 (17 percent of the market). If this percentage continues to trend lower, we could begin to see median sales price increases going forward.


The available inventory of homes on the market dropped to a new decade low of 4,283, even lower than the previous low of 4,408 seen in August 2011. The combination of high sales and low inventory has also dropped the months of inventory to near decade lows. The market now reflects a figure of 4.7 months of inventory for single family homes and 5.1 months inventory for condos. Months of inventory represents the time it would take to deplete the current inventory at the current sales rate. Lower inventory and higher sales normally result in greater competition for available properties, which tends to push prices up.


"The decline in the available inventory has been remarkable, and competition for homes and condos generally creates upward price pressure," said Benson. "Buyers and potential buyers should understand that the current market scenario is clear - if you wait, you will miss out. We're at a decade low for inventory, the mortgage interest rates are at the lowest level since the 1950s, and Sarasota remains the nation's perfect place to relocate."


Benson continued, "Every number indicates that we are seeing the virtual opposite of a perfect storm in local real estate. I would call this the perfect opportunity - a market in strong recovery, prices still very low compared to the price surge of 2003-2005, and interest rates at record lows. And SAR Realtor® members are certainly ready to help buyers and sellers achieve their dreams."




11 Year Roller Coaster Ride


The chart below shows the properties For Sale (Supply), Sold (Demand) and Pended Sales (Demand) for the last 11 years by quarter for Sarasota county. Notice the drop in the number of properties for sale (Supply) around 2004 as well as the increased sold properties (Demand). The percentage drop in the supplies was substantial. The 2005 increase in properties for sale was HUGE. The real estate bubble was about to burst. We are back to pretty balanced market.





Average Sales Price for 11 Years


The chart below is showing the average Sold and For Sale prices of properties in Sarasota county for the last 11 years. You can see the big run up in prices during 2003-2005. Then the decline from the beginning of 2006 to now. Notice how the average sales price has remained about the same from 2009 to today. I told clients that we would scrape along the bottom of the market for awhile which appears to be true.


Something interesting to note is that the average sales price in 2001is slightly higher than today.


Is the market oversold?





 
 ]]> </description>
            <pubDate>Mon, 21 May 2012 12:31:42 -0400</pubDate>
                    </item>
        <item>
            <guid>http://www.luxurysarasotarealestate.com/blog/longboat-key-condo-market-update.html</guid>
            <link>http://www.luxurysarasotarealestate.com/blog/longboat-key-condo-market-update.html</link>
            <author>marc@luxurysarasotarealestate.com (Marc Rasmussen)</author>
            <title>Longboat Key Condo Market Update</title>
            <description> <![CDATA[ 

January 1, 2012 - May 15, 2012


The Longboat Key condo market has been active this year. Here are the sales statistics for all Longboat Key condo from January 1, 2012 to May 15, 2012. There were 171 condo sold in this time period.





 

Beds

Baths

Sq Ft

List Price

Sold Price

SP/SqFt

SP/LP Ratio


High


4


5


3,811


$3,600,000


$3,450,000


$905.27


149



Low


0


1


336


$44,900


$44,000


$107.14


54



Average


2


2


1,742


$661,543


$603,293


$325.09


92



Median


2


2


1,503


$499,000


$455,000


$293.02


93






 


January 1, 2011 - May 15, 2011


Below are sales statistic for sold condos on Longboat Key from January 1, 2011 to May 15, 2011. There were 139 condos sold in this time period.





 

Beds

Baths

Sq Ft

List Price

Sold Price

SP/SqFt

SP/LP Ratio


High


3


4


3,582


$10,900,000


$9,500,000


$3,244.54


105



Low


0


1


450


$60,000


$45,000


$63.83


61



Average


2


2


1,580


$705,248


$631,854


$347.98


90



Median


2


2


1,392


$468,000


$425,000


$323.08


90






 


Prices are Rising!


It is great to see how many more condos sold in 2012 vs. 2011.You will notice that there was a $9,500,000 sale in 2011. This was the sale for the entire Grand Mariner condo complex. It distorts the numbers. To make a true comparison that sale should be removed. Below are the Longboat Key condo sales with that sale removed.





 

Beds

Baths

Sq Ft

List Price

Sold Price

SP/SqFt

SP/LP Ratio


High


3


4


3,582


$2,950,000


$2,635,000


$735.62


105



Low


0


1


450


$60,000


$45,000


$63.83


61



Average


2


2


1,571


$631,373


$567,592


$326.99


90



Median


2


2


1,392


$465,963


$425,000


$323.06


90






This gives a more accurate picture of what is happening in the condo market on Longoat Key, Florida.


A couple of things to note:




2012 average sales price - $603,293


2011 average sales price - $567,592






2012 total condo sales - 171


2011 total condo sales - 138






2012 median sales price - $455,000


2011 median sales price - $425,000




 


3 Years of Longboat Key Condos


Below is a chart of Longboat Key condo sold, for sale and pending. An important thing to note is that there were more sales in 2012 versus 2011 despite having fewer properties to sell. Take a look at the number of condos for sale during the January, February and March months of 2011 and 2012. That is the inventory that we Realtors have to offer potential buyers. It is interesting to see how many more condos there were for sale. However, we ended up selling more condos this in 2012. This is an indication of strong buyer motivation. These buyers were able to make a decision to purchase even though they have fewer condos to choose from. That is a good indication of demand.





Waiting for the Bottom?


Are you still waiting for the Sarasota real estate market to drop even more? I urge to read this blog post - First Quarter Sarasota Market Update. Take a look at the average sales price comparison from 2011 to 2012 for the various areas of Sarasota, Florida. You will notice that the average sales price is higher in ALL areas. Only time will tell if we have seen the bottom (I think we have).


Give us a call at 941.812.6272 if we can help you purchase a condo on Longboat Key, Florida.
 ]]> </description>
            <pubDate>Tue, 15 May 2012 21:00:23 -0400</pubDate>
                    </item>
        <item>
            <guid>http://www.luxurysarasotarealestate.com/blog/sold-longboat-key-condo.html</guid>
            <link>http://www.luxurysarasotarealestate.com/blog/sold-longboat-key-condo.html</link>
            <author>marc@luxurysarasotarealestate.com (Marc Rasmussen)</author>
            <title>Sold - Longboat Key Condo</title>
            <description> <![CDATA[ 
Doesn't this look like a nice place to enjoy your morning coffee and breakfast? This terrace is facing east over the Sarasota bay so it provides stunning views of the sun rise in the mornings.





A client of ours just purchased this 3 bedroom, 3 bathroom, 2,482 square foot condo in Fairway Bay on Longboat Key.


2016 Harbourside Drive, Longboat Key, Florida


Open and spacious is this 3BD/3BA condominium home in Fairway Bay! Savor the expansive bay views and lush tropical mangroves all within the beautiful backdrop of downtown Sarasota and the Ringling Bridge situated across the bay. The oversized kitchen is well appointed with granite countertops, parquet floors and a gracious eat-in area to enjoy your morning coffee. The light shade of hardwood flooring throughout the living and dining room, combined with the abundance of natural light and outdoor scenery from the many windows, helps to create a feeling of wonderful relaxation. The master suite is well laid out with double sinks, a spa tub, separate shower, spacious closets and opens up to a large private terrace with bay views. With two additional bedrooms and baths there is plenty of room for the extended family to enjoy holidays and vacation time in your Fairway Bay sanctuary. Two new A/C units installed in December 2010. Home includes 1 covered parking space #313. 2011 annual Bay Isles fee- $450.05.


For more photos, information and a virtual tour visit 2016 Harbourside Drive, Longboat Key.


Original Asking Price - $599,000


Sales Price - $515,000 (public record)


Fairway Bay on Longboat Key


Fairway Bay is a fabulous bayfront community located on the south end of Longboat Key. It is comprised of townhouses and midrises with many of them overlooking the gorgeous waters of the Sarasota bay.


This exclusive gated community consisting of 287 condominium units in a lush tropical setting. It is located along Harbourside Drive, offering its residents proximity to the some of the finest shopping, dining, and entertainment establishments that define a posh and upscale lifestyle.


Residents of Fairway Bay can take advantage of various amenities to include a clubhouse, a heated swimming pool with spa, modern fitness center, two tennis courts, volleyball courts, picnic groves, and waterfront bike and nature trails. Other recreational activities that may be pursued by residents are golfing, hiking, biking, kayaking, and canoeing. A private beach access is available for residents at the Bay Isles Beach Club nearby.


Fairway Bay was developed in the late 1980's by Arvida. Units in this complex offer endless water views to the east, and some condos even have views of Downtown Sarasota skyline. Located mid-island these Longboat Key condos are behind the gates of The Longboat Key Club and have easy access to 27 holes of golf, tennis and marina.


View all condos for sale in Fairway Bay.


Photo Courtesy of Bruce Myer/Lynne Koy of Coldwell Banker
 ]]> </description>
            <pubDate>Tue, 15 May 2012 20:31:38 -0400</pubDate>
                    </item>
        <item>
            <guid>http://www.luxurysarasotarealestate.com/blog/sold-lakewood-ranch-country-club-home.html</guid>
            <link>http://www.luxurysarasotarealestate.com/blog/sold-lakewood-ranch-country-club-home.html</link>
            <author>marc@luxurysarasotarealestate.com (Marc Rasmussen)</author>
            <title>Sold - Lakewood Ranch Country Club Home</title>
            <description> <![CDATA[ 
Sharon Straw is on a roll! Not only did she represent the buyers on this Longboat Key beach condo but she also just sold a very nice home in the Lakewood Ranch Country Club.


The home at 6607 The Masters Avenue in Lakewood Ranch is a 4 bedroom, 3 bathroom, 2,992 square foot, 2000 built home. The original asking price was $609,000. The sellers then lowered the price to $599,900 and it closed for $565,000 (public record).


Lakewood Ranch Country Club Home


6607 The Masters Avenue


If you are looking for perfection, you just found it! This elegant 4 bedroom, 3 bath home will WOW you for sure. Lush landscaping surrounds this well-designed Cannon home. As you walk up your paver drive, inviting French doors greet you and open to rich finishes everywhere you turn. Exquisite hardwood flooring, double tray ceilings w/wood detail, accent lighting, decorative columns, crown moldings, surround sound, sharp window treatments including plantation shutters and much more. Enjoy breakfast gazing through your aquarium window and marvel at the spectacular nature views. Family room has pocket sliders that open to pool and spa with outdoor storage and fully appointed outdoor kitchen where you will enjoy entertaining with friends and family surrounded by a one-of-a-kind peaceful private setting. Kitchen has it all too with granite counters, stainless steel appliances, double ovens, gas cooktop, double sinks, center island, breakfast bar and pantry. Master suite offers walk-in closets with separate entrance to pool and spa. Master bath has custom wood cabinetry, garden tub, vanity and walk-in shower. Fourth bedroom w/bay window is perfect for guests with bath and separate door that leads to lanai. This home is in a perfect location with easy access to Lakewood Ranch Blvd, LWR Main Street, shopping, dining, medical facilities and just minutes to I-75.





















 ]]> </description>
            <pubDate>Wed, 09 May 2012 09:21:09 -0400</pubDate>
                    </item>
        <item>
            <guid>http://www.luxurysarasotarealestate.com/blog/sold-longboat-key-beach-condo.html</guid>
            <link>http://www.luxurysarasotarealestate.com/blog/sold-longboat-key-beach-condo.html</link>
            <author>marc@luxurysarasotarealestate.com (Marc Rasmussen)</author>
            <title>Sold - Longboat Key Beach Condo</title>
            <description> <![CDATA[ 
Congratulations to Sharon Straw for selling a fantastic Longboat Key beach condo in Whitney Beach on the north end of the island. This beachfront condo offers stunning beach and water views. See what I mean?





I would not mind hanging out there.


6701 Gulf of Mexico Drive #306


Make you daydreams of living on the beach a reality! Watch the dolphins play in the sparkling water of the Gulf of Mexico or wave to one of the passing sailboats as they leisurely pass by your fully furnished corner beach residence that offers spectacular northwest views of the beach and Gulf of Mexico. your extensive screened in private balcony can be accessed from both the master bedroom and living room, affording a panoramic view of the water.. Your beautifully furnished residence is mover-in ready and provides you a very comfortable space in which to relax or entertain family and friends. In addition to your private beach residence, you have easy access to a swimming pool directly on the beach, boat slips, fishing pier and excellent tennis courts set in a bucolic setting. Island living frees your spirit and lets your imagination soar. When you want to be immersed in a plethora of fine dining establishments and amazing cultural venues, downtown Sarasota is a short drive away. If you choose to not make this your home, it would make a fine investment property, especially given the liberal monthly rental policy. Life is good and you deserve it! Furnishings exclude artwork.


This 2 bedroom, 2 bathroom, 1,377 square foot condo had an asking price of $479,000. However, the sales price was $525,000. They had multiple offers on this condo which is not a rare occurence these days.


Longboat Key Condo Sold


Here are more photos of this sold Whitney Beach condo on Longboat Key.























 


Longboat Key Condo Market Update


Below is a chart showing the number of condos for sale on Longboat Key, condos sold as well as condo under contract.





The chart below is the average price per square foot for all condos on Longboat Key. It has limited use because it is averaging vastly different condos like new luxurious condos in Positano with less expensive bayside condos in Windward Bay. 


The chart below shows the number of months of inventory of Longboat Key condos.





As you can see there is only 6.7 months of inventory bassed on closed sales. Another indication of a balanced Sarasota real estate market. In many segments the buyers are no longer dictating the market.
 ]]> </description>
            <pubDate>Tue, 08 May 2012 21:34:15 -0400</pubDate>
                    </item>
        <item>
            <guid>http://www.luxurysarasotarealestate.com/blog/how-long-do-short-sales-take.html</guid>
            <link>http://www.luxurysarasotarealestate.com/blog/how-long-do-short-sales-take.html</link>
            <author>marc@luxurysarasotarealestate.com (Marc Rasmussen)</author>
            <title>How Long Do Short Sales Take?</title>
            <description> <![CDATA[ 



We often get asked from our buyers, "How long do short sales take to close?" I typically give a pretty vague answer because some of them happen quickly and some take what seems like forever. I prepare people that they will typically be waiting for several months to get a response.


Last year I closed this Lakewood Ranch short sale in just over a month. But that is because the bank involved was a local community bank and it was easy to get the decision maker on the telephone.


Clients of mine are currently under contract on a short sale home in the Hammocks. Last week we received a response from the bank. It took just over 3 months for the bank to respond to our offer.


There are many variables that affect short sales response times. Some of them include:




What bank is involved? Some banks are more responsive than others.


Has the seller provided all of the necessary documents to the bank/negotiator? Lazy/unorganized sellers will delay the process.


Who is processing the short sale? Are they any good? Are they persistent in calling the bank?




Many Realtors give the standard answer of 4 to 6 months to close a short sale. Based on the data below this seems to be a pretty good rule of thumb.


Time to Close Sarasota Short Sales


I ran a search in our MLS system for short sales in Sarasota county that have closed from January 1, 2012 to May 2, 2012. These include all areas and price ranges. In this time period and geographic area there was a total of 3,579 transactions with 568 of them listed as short sale. Below are the statistics for the short sales.





 

Sold Price

Sales Price/List Price

Days to Contract

Days to Closed


High


$2,700,000


134%


1,370


1,450



Low


$17,000


52%


0


27



Average


$153,012


95%


163


273



Median


$95,500


96%


89


201






The average days to contract is 163 and the average days to close is 273. The difference between these two numbers is the time it took to get the short sale processed and closed. The average difference is 110 days.


I listed the top 50 short sale transactions in terms of price.






Address


Sales Price


Days to Contract


Days to Sold


Processing Time




2 SANDY HOOK ROAD


2,700,000


1136


1220


84




604 MOURNING DOVE DR


1,650,000


693


710


17




897 FREELING DR


1,525,000


361


557


196




7350 PERIWINKLE DR


1,400,000


1


252


251




535 SANCTUARY DR # A-702


1,170,000


774


1450


676




1400 SIESTA DR


1,100,000


30


331


301




9261 MCDANIEL LN


850,000


374


449


75




440 CAMILLE DR


845,000


27


423


396




6300 MIDNIGHT PASS RD # 1211


760,000


110


133


23




58 S WASHINGTON DR


725,000


281


453


172




7540 PRESERVATION DR


705,000


9


87


78




705 S CASEY KEY RD


700,000


147


205


58




801 LYTHAM CIR


700,000


274


323


49




563 S PALM AVE # 21


650,000


331


386


55




363 ARDENWOOD DR


610,000


0


27


27




921 INLET CIR


610,000


200


309


109




551 YARDARM LN


592,500


115


186


71




6512 Midnight Pass Rd # 306


575,000


1208


1305


97




101 SUNSET DR # 302


575,000


565


595


30




2633 RANCH CLUB BLVD


555,000


739


781


42




5328 HUNT CLUB WAY


549,000


992


1080


88




252 OSPREY POINT DR


500,000


5


169


164




690 N RIVER RD


475,000


20


84


64




3735 EAGLE HAMMOCK DR


435,000


160


248


88




7614 WEEPING WILLOW CIR


434,000


219


228


9




1657 RIDGEWOOD LN


400,000


67


204


137




650 INDIAN BEACH LN


400,000


156


316


160




1722 HANSEN ST


380,000


179


253


74




4753 ACORN CIR


380,000


139


225


86




4577 TUSCANA DR


380,000


89


146


57




629 ALHAMBRA RD # 904


380,000


4


76


72




1837 ORCHID ST


362,000


207


290


83




630 E BAY ST


350,500


115


271


156




6300 MIDNIGHT PASS RD # 4


350,000


49


162


113




8900 BLIND PASS RD # A112


350,000


176


339


163




392 PINE RANCH TRL


350,000


4


140


136




2045 GULF OF MEXICO DR # 204


350,000


439


665


226




101 TORCELLO CT


347,500


155


252


97




6150 MIDNIGHT PASS RD # V 5


345,000


34


120


86




1088 EAGLES FLIGHT WAY


340,000


55


191


136




4773 HUNTERS RUN


331,000


235


349


114




3606 BAY SHORE RD


325,000


64


191


127




464 ISLAND CIR


325,000


1283


1429


146




8875 MISTY CREEK DR


321,700


100


234


134




523 S PALM AVE # 9


319,900


67


171


104




6701 AVENUE B


319,000


96


244


148




2332 MCCLELLAN PARKWAY


317,000


1370


1400


30




1440 BAYSHORE DR


312,500


312


442


130




5016 SANDY SHORE AVE


310,000


8


91


83




1368 TEAROSE PL


309,000


84


155


71




 


 


 


 


 




 


 


Average Processing Time




122








In the numbers above I calculated the Processing Time by subtracting the Days to Contract from Days to Sold. Based on the top 50 sales the Average Processing Time was 122 days which is pretty close to 110 days calculated from the total 568 properties sold.


Pre-approved Short Sales


If you scour the MLS enough you will notice that some listings are advertised as a "Pre-approved Short Sale." What usually happens is buyer #1 puts the house under contract, gets tired of waiting for the bank to respond and ultimately cancels the contract. The bank continues working on the short sale approval process and gives a response. The listing Realtor will then advertise that the property has a pre-approved price. Buyer #2 comes in makes an offer and can possibly get the property at the approved price. It depends on how much time has passed between getting the bank response and the new contract.


On some of the short sale transactions above you will notice that the processing time is very short. For example - 7614 WEEPING WILLOW CIRCLE only took 9 day from contract to close. You can see in the Realtor remarks, "LENDER APPROVAL WITHIN 48 HOURS."


Another example is 604 MOURNING DOVE DRIVE on Bird Key. This property closed in a mere 17 days. If you look at the Realtor remarks it says, "BANK APPROVED - FULL PRICE OFFERS ONLY!" This Bird Key short sale had been under contract a few times so that probably elicited the bank response allowing it to close so quickly when the final contract came in.


Key Takeaway:




The average number of days to process a short sale is about 110 days or almost 4 months.


The processing time for a "Pre-approved short sale" is shorter than a regular short sale.


Don't be afraid to pursue a short sale if you are patient.


Make sure everyone (banker, seller, buyer, negotiator) is on top of their game to get a short sale closed as quickly as possible. Surround yourself with talent.


84% of the transactions in Sarasota county from 1/1/2012 to 5/2/2012 were NOT SHORT SALES.


If you limit yourself to only short sales you are only looking at 16% of the market.


 ]]> </description>
            <pubDate>Wed, 02 May 2012 21:24:22 -0400</pubDate>
                    </item>
        <item>
            <guid>http://www.luxurysarasotarealestate.com/blog/four-fabulous-siesta-key-condos.html</guid>
            <link>http://www.luxurysarasotarealestate.com/blog/four-fabulous-siesta-key-condos.html</link>
            <author>marc@luxurysarasotarealestate.com (Marc Rasmussen)</author>
            <title>Four Fabulous Longboat Key Condos</title>
            <description> <![CDATA[ 









The Gulf of Mexico and Sarasota Bay are home to the island of Longboat Key. And along the eleven acres of this key is the beautiful community of Longboat Key condos. With views, activities, and well designed and accented condos you have a place where you can run away from it all and still be close to Sarasota, Florida.


The location is paramount to the condos that are built here. Whether you are a business man, retiree, or utilizing the home for a wonderful second home getaway this is a place to enjoy your life. Beaches and their expanses give rise to the stunning sunsets and sunrises that will decorate your world.


In Beachplace the name says it all. This is one of the largest condominium complexes on the key. There are over thirty acres where the buildings reside. The expanse of beaches gives you the chance to look for shells, fish, or simply walk the soft sand that deposits here. The community is active with golf, tennis and other events available to enjoy. But if you need a little night out, then St. Armand's Circle is only minutes away. The twenty four hour security and manager that lives on site gives the safety and security a very strong plus.


In the southern region of this key is Seaplace. The smaller units available give the opportunity for many to buy in for second homes or simply provide on a smaller income. This beautiful location is two buildings, townhomes, and multiple garden buildings located on over forty acres of wild tropical land. There is a new clubhouse to meet for tennis, golf, or even outings to nearby Sarasota. With miles of walking trails you can find new places to enjoy and exercise.


Appropriately names Sunset Beach these units have the beach waiting right out their door. The white and soft beaches that this area is known for are not only waiting but are ready for your shelling, fishing, or hiking needs. All these buildings have swimming pools, views of the ocean, and a community that crates activities to share together.


If you want grace and elegance combined with larger floor plans and stunning views then En Provence is the place for you. Many of the units have their own private swimming pools, giving them added opulence and comfort. Residing on six acres of beachfront property the views are the draw but the luxury is why you stay. The community is strong and golf and tennis are always included in the day to day events.


Located midway down Longboat key are the stunning Positano condominiums. They were recently built and are freshly designed with large windows and high ceilings. A huge terrace is ready and waiting for meals or simply a glass of wine while watching the ocean. For the chef they will appreciate these units have gourmet kitchens and larger floor plans joining luxury with space. All the same amenities of golf, activities, tennis, and swimming are also available. If you can leave your gorgeous condo, that is.


Living at Longboat Key condos is finding the perfect balance of beauty and quality. With so many condos to choose from everyone can find what they need. The beach surrounds this key and brings the ocean to you. Find the time and come to your new home on the lovely island of Longboat Key.






 ]]> </description>
            <pubDate>Tue, 24 Apr 2012 09:33:54 -0400</pubDate>
                    </item>
        <item>
            <guid>http://www.luxurysarasotarealestate.com/blog/sarasota-march-sales-hit-7-year-high.html</guid>
            <link>http://www.luxurysarasotarealestate.com/blog/sarasota-march-sales-hit-7-year-high.html</link>
            <author>marc@luxurysarasotarealestate.com (Marc Rasmussen)</author>
            <title>Sarasota March Sales Hit 7 year High</title>
            <description> <![CDATA[ 
The Sarasota Association of Realtors just issued a press release today regarding the flurry of buying in the Sarasota FL real estate market.





The Sarasota real estate market saw sales climb to a seven-year high in March 2012, with 831 properties changing hands during the month. Not since September 2005 has the local real estate association seen sales at that level. In addition, pending sales (which represent properties that went under contract during the month) reached the highest level in 12 month, another good indication that the current market surge will continue in the next few months.  “This is amazing news, and our local brokers and agents should be extremely proud of all their hard work and diligence, helping buyers and sellers make their dreams come true,” said SAR President Laura Benson. “The strength that the Sarasota market has demonstrated in the past few months has been remarkable, and I’m looking forward to a continuing resurgence in local real estate. Property sales drive so many other elements of the local economy, and that means more jobs, higher salaries, and a better overall community.”  In addition to the high level of sales – 596 single family homes and 235 condos sold – the median sale price for both categories hit a high for the year in March. The median sale price for condos was $192,000, a level not seen since May 2011, and was 11 percent higher than last March. Single family was at $174,900, a level not reached since June 2011, and 9.8 percent higher than last March. The reason for the price resurgence is likely tied to the lower number of distressed property sales. The total number of distressed sales, foreclosures and short sales, fell to only 32 percent from 37.4 percent in February 2012 – a three-year low.  Pending sales continue to soar, which signals a likely continuation of a high number of closings in the next 60 to 90 days. A total of 1,191 properties went under contract in March 2012, a level not seen since last March.  Another positive sign was the drop in the available inventory of homes on the market. The number fell to 4,463 from February’s total of 4,588. The level is close to the decade low figure of 4,408 in August 2011, and the combination of high sales and low inventory has dropped the months of inventory to eight-year lows.  Not since 2004 has the market seen a figure of 4.8 months of inventory for single family homes and 6.7 months inventory for condos. Lower inventory and higher sales normally result in greater competition for available properties, which tends to push prices up.  “It’s great to see that we’ve come so far from the days of 2008, when the months of inventory hit 25 months for single family and 40 months for condos,” said Benson. “The real estate agents who stuck with it through those difficult months are certainly glad they did, now that we’ve turned the corner.”  Single family home prices are now 21.4 percent higher than the low of the market reached 13 months ago, while condo prices are almost 30 percent higher than the low point.  Currently, only 701 properties for sale in the MLS are distressed listings (short sales and foreclosures), or roughly 15 percent of the market. In February 2012, the figure was 740 (16 percent of the market), and in January 2012 it was 812 (17 percent of the market). If this percentage continues to trend lower, we could begin to see median sales price increases going forward.


“The Sarasota market appears to be leading the nation into a new, dynamic period in real estate,” noted Benson. “While no one can predict the future, certainly all the vital signs of the economy have been moving in the right direction for many months, so I’m very hopeful we will see continued growth in our area.”
 ]]> </description>
            <pubDate>Wed, 18 Apr 2012 18:18:57 -0400</pubDate>
                    </item>
        <item>
            <guid>http://www.luxurysarasotarealestate.com/blog/longboat-key-towers-paradise.html</guid>
            <link>http://www.luxurysarasotarealestate.com/blog/longboat-key-towers-paradise.html</link>
            <author>marc@luxurysarasotarealestate.com (Marc Rasmussen)</author>
            <title>Longboat Key Towers - Paradise</title>
            <description> <![CDATA[ 
I have sold a couple of units in the Longboat Key Towers buildings on south Longboat Key over the years. These are great buildngs because of the double view. Units run from the west side of the building overlooking the beach and Gulf of Mexico Drive to the east side which overlooks the Longboat Key Club golf course and Sarasota Bay.


Longboat Key Towers located on the beautiful island of Longboat Key Florida is a superior architectural statue consisting of two charming twelve-story buildings appended by a one-story element with a total of 88 apartments.  Both towers are situated behind the secure gates of the elite Longboat Key Club and all apartments overlook the unrivaled Florida Gulf beaches with breathtaking balconied views to the east and west.  Apartments on the end of each tower have the advantage of three exposures.  The lush tropical landscaping and excellent on-site management makes the Longboat Key Towers the ultimate paradise.


In the one-story appendix is an apartment exclusively for the resident manager with a modern office, a fitness center with a sauna &amp; steam room and individual storage lockers for each apartment.  The twin towers are adjoined with a corridor.  The appealing outdoors greets residents with steaming hot tubs and a rejuvenating pool that borders the white stretched out magnificence of the beaches on the gulf front. Buyers are now impressed and magnetized by the new sophisticated look of the building after the completion of a $12 million restoration project.


Longboat Key Towers was erected in 1979 and have been one of the most attractive Longboat Key condos.  The now novel appearance makes it a very tempting buy. Interior upgrade improvements were made to the fitness center, the card room and to the welcoming lobby.  Old windows were replaced by state of the art high impact alternates and ultra modern railings were part of the exterior upgrade.  The tower initiative of a “tower” design eliminates the need for extensive corridors and has a central elevator core.  Each floor has its own semi-private foyer and offers residence the distinctness of privacy that is seldom available in apartment arrangements.


Longboat Key Towers Location


Residents of Longboat Key Towers can indulge in a most lavish life style by engagement in the boundless activities of the world class surrounding resorts that is within comfortable distance. Residents can pick and choose without any limitation from many of the swimming, boating, fishing, golfing and tennis activities available.  There is certainly no scarcity of exclusive shops, excellent restaurants and supermarkets in world class St. Armands Circle that is located a mere two miles from Longboat Key Towers. Downtown Sarasota is only about 15 minutes away. Here you can shop, dine, play and just people watch. Not even art lovers are neglected and they can engage in exhibits, workshops, art classes and cultural events all under one roof in the Longboat Key Center for the Arts which are only minutes away. Not only does the Longboat Key Towers gracefully outline the sky with elegance but it can also become the ultimate destination for you as buyer to inherit an unequalled life style for the future.


Give us a call at 941.812.6272 if we can help you buy or sell a Longboat Key condo.
 ]]> </description>
            <pubDate>Sat, 14 Apr 2012 08:32:56 -0400</pubDate>
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