Marc Rasmussen's Blog: Sarasota Foreclosure

There was an article in the Sarasota Herald Tribune this morning titled - October home sales up 50 percent in Sarasota-Bradenton market. You can read it here.

Highlights of the article include:

• During October, buyers in the Sarasota-Bradenton market feasted on distressed properties and other homes that had undergone big price cuts, driving sales up 50 percent.
• Fearing the $8,000 tax credit for first-time purchasers would expire at the end of November, buyers raced to close on homes in Sarasota-Bradenton.
• Prices suffered in all the activity, though the median in Sarasota-Bradenton remains $10,500, or 7.3 percent, above the low point of 2009 -- a median of $144,000 in February.
• The median price dropped 9 percent to $154,500 from…

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Below are the top 20 Sarasota real estate brokers for the last 12 months.

Sarasota Broker Top Sales By Volume Volume  Market Share List Sales Units Avg. Price List Sales Buyer Sales Units Avg. Price Buyer Sale Michael Saunders and Company $720,618 19.60% 831 444.2 903 389.2 Coldwell Banker Residential $477,397 13.00% 979 276 729 284.2 RE/MAX Alliance $341,989 … Read Full Post

The chart above shows the number of single family homes and condos for sale, under contract and sold over the last 5 years in Sarasota, Florida. The light green lines represent the number of homes and condos for sale. The red line shows the number of properties under contract and the dark green line represents the number of sold properties.

From an owner of Sarasota real estate and a Realtor selling in Sarasota it is great to see the sharp decline in inventory, the rise in pending sales and closed sales. It looks like we still need to absorb some of the inventory in the market. Based on closed transactions we currently have jut over a 10 month supply of properties for sale. Real estate "experts" profess that a 6 to 7 month supply is normal. If we get a…

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An associate in my office listed this in the Harbor Acres neighborhood recently. This is a 4 bedroom, 3.5 bathroo, 4,852 sqaure foot home on the water. It has breathtaking views of the Sarasota bay. Harbor Acress is one of the most sought after communities in Sarasota, Florida. This is not only a gorgeous waterfront home with a great neigborhood but it is also a bank owned property or a foreclosure.

1240 Hillview Dr, Sarasota

Tremendous upside potential in this gated estate on the Mainland's most desired street. Enjoy a preferred southern exposure over the long lawn, big panoramic Bay views and a deep sailboat water dock on over a 31,000 sq. ft lot priced millions under neighboring properties. A…

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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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