Marc Rasmussen's Blog: All Categories

Take a look at this five year chart of Sarasota, Florida single family homes. The light green are the number of homes for sale, dark green represents solds and the red line shows pending homes sales. See how inventories have plummeted since the beginning of 2008? Pretty remarkable how inventories were over 8,000 and now they are hovering around 4,000. A 50% decline in the inventory is pretty dramatic.

Sales activity has also been active. Some buyers are feeling better about the market by jumping off the fence and buying. Assuming the market is bottoming and we have normal appreciation imagine the home equity that will be created over the next 10 years from those homeowners who purchased at or near the bottom.

Take a look at how high the pendings are on…

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Luxurious yet relaxing. Imagine waking up in the morning to the soothing sounds of the Gulf of Mexico. If you ever wanted to live or own a second home on the beach this is a great time to start looking. There may never be a better time to buy a Sarasota beachfront home.

Siesta Key Beachfront Homes

Siesta Key is an 8 mile long barrier island with one of the prettiest beaches in the world. It recently ranked as the #2 prettiest beach in the United States by Dr. Beach. The Sanderling Club on Siesta Key is a gated community on the south end of the island. It has a gorgeous beach and is home to some magnificent beach front estates.

Longboat Key Beachfront Homes

Longboat Key is an 11 mile long barrier island off the coast of Sarasota. This is a pristine…

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I was reading though the newspaper this morning (online of course) and noticed Harold Bubil's blog post about how AOL real estate is reporting that Sarasota, Florida is the 2nd most undervalued city in the country. You can read the article here. It sounds like they are getting their information from IHS Global Insight.

Sarasota is a relatively upscale community on Florida's west coast. "It's a nice boating community, and they have got a lot of beautiful homes there," says Jack McCabe of Florida-based McCabe Research & Consulting. After home prices plunged 44 percent from the first quarter of 2006 to the first quarter this year, the market presents would-be buyers with some attractive opportunities. IHS Global Insight considers the median home price in… Read Full Post

 

 

Sarasota Foreclosures

Below are some statistics on the Sarasota/Bradenton foreclosure market. All data is from the Sarasota and Manatee counties. All of this information comes from the Sarasota MLS.

• 12,072 total properties for sale
• 234 bank owned properties
• 2,112 properties in short sale or pre-foreclosure

2009 Sales of Foreclosures and Short Sales

• 7,344 total properties sold
• 1,037 short sale or pre-foreclosure properties sold
• 1,935 bank owned properties sold
• Bank owned properties and short sales make up about 40% of the sales in the Sarasota and Manatee county area.

Foreclosure

A foreclosure is essentially a bank owned properties. This is a home or condo…

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Bird Key

Bird Key is a beautiful residential island community conveniently located between mainland Sarasota and Lido/St. Armands Key. Circus magnate John Ringling purchased this island in the early 1920’s and linked it to mainland Sarasota; that "link" is named, but of course, the John Ringling Bridge. The bridge was recently converted to a fixed-span beauty that has become symbolic of the downtown Sarasota skyline.
 
Bird Key is an upscale residential community consisting of over 500 homes. Many of these homes were originally built in the 1950’s and have been completely remodeled, with newly-constructed luxurious bayfront homes emerging alongside them. The Bird Key residents are a mix of sophisticated professionals and their families along with…

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Below is a chart showing Sarasota, Florida county inventories, sales and pending sales for the last 3 years. It is great to see declining inventories, more sales and more pending sales. It sounds like a market bottoming out.

Notice the red line on the chart which shows pending sales as well as the dark green bar at the bottom which shows closed sales. As prices have declined buyers have jumped off the fence. There are still a lot of people waiting for the bottom. When the overall concensus thinks the bottom is here you will see even more buying from people trying to time it. Think of the wealth that could be created in this country with so many people buying around the bottom and then a normal appreciation rate for the next 10-15 years.

Sarasota Today…

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I was running through my IDX registration this morning and noticed something cool. See where this lead came from? It came from one of my REW blog posts - http://www.realestatewebmasters.com/blogs/marc-rasmussen/7538/show/. This is not the first time I have seen a registrant come from my REW blog. I actually have had several people visit my website from here. I know a lot of you write posts only for the links but keep in mind that you can get additional traffic to your site.

Is anyone getting traffic from their REW blog?

Sarasota homes for sale

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Lido Shores Home

This home at 1301 Westway Drive on Lido Key sold recently for $7,423,500. This is a 5 bedroom, 5.5 bathroom, 6.580 square foot home on Lido Shores in Sarasota, Florida. The list price was $8,999,000. It took 329 days to receive a contract.

1301 Westway Drive

One of Sarasotas prettiest homes on the azure waters of New Pass in sought-after Lido Shores! This international designers home shows like nothing else in Sarasota with its elegant, but livable sophistication. Superb quality one expects in a home of this caliber is present everywhere: walnut floors, wonderful woodworking, stone terraces, 3 fireplaces. This is quiet luxury. Handsome 2 story living room, formal… Read Full Post