Heritage Oaks - A Golfer's Community

Heritage Oaks is a private, gated and moderately-priced Sarasota golf and country club community just East of I-75. The community offers villas, single-family detached homes, and veranda-style condominiums. Very nice condos and villas are available in the $200 and low $300's while larger homes on the most desirable lots are typically priced from the high 300's to the high 400's.

The Heritage Oaks 18 hole golf course is maintained in top condition nestled behind the clubhouse with all the amenities you expect fdrom a first class country club: 5 pools, 4 lighted tennis courts, putting green, aqua driving range, professionally staffed fitness center, meeting rooms, full service dining room, the 19th Hole Grille Room, patio dining. The Heritage Oaks country club community is only about a 20 minute drive to all the action, entertainment and cultural amenities in Downtown Sarasota.

An example of the fine homes available in Heritage Oaks is this single-family pool home that may be just what you're looking for. The Rutenburg "York" model split 4 bedroom, 3 bath floorplan provides plenty of room for the family that wants to be together in the family room and then off to their own private side of the layout.

The open eat-in concept kitchen offers access to the major gathering areas of the home with the pool conveniently located off the coffered ceiling living room. The master suite with tray ceiling, the vaulted ceiling family room and the 4th bedroom with the pool bath. Accordion hurricane shutters on all windows except the front entry and pool lanai which uses the hurricane screen to flex with the wind pressure on the lanai and the front door.

The 3-car garage will accommodate three vehicles or your golf cart in the third bay. The HVAC system was replaced about 3 years ago and the water heater is brand new. This home built in 2000 is available now at the attractive price of $479,000.

If you would like to view this home and other similarly attractive homes in Heritage Oaks or homes in other Sarasota golf course communities, call me today at 941.266.1799 and please mention MLS # A4101622 when you call. I'd be delighted to discuss any facet of the Sarasota real estate market with you when you call.

Preserve at Misty Creek Home Available Now

Here is a stunning, meticulously maintained 3,678 sq ft home on one of the largest, most beautiful waterview lots in the Preserve at Misty Creek.

With 4 generously sized bedrooms, 3 ½ baths, formal living & dining rooms, a gorgeous chef’s kitchen, family room and game room, the layout of the home is sensational. The master bathroom is stunning, the wine cooler and wet bar are perfectly located for entertaining casually or in the formal areas and the full outdoor kitchen with a gas fireplace makes for another lovely entertaining spot as the sun sets over the lake.

Whoever purchases this fine home now priced at $724,900, will receive a free full year’s membership at the Misty Creek Country Club.

Preserve at Misty Creek is located on 730 acres in eastern Sarasota County is a deed-restricted, gated community of 302 single-family homes. Abundant wildlife including deer, sandhill cranes, red-tailed hawks, and others share the live oak hammocks, wetlands and extensive areas of open conservation spaces. Residents may fish and paddle on the many lakes in Misty Creek.

Membership in the Misty Creek Country Club, a private member-owned 18-hole championship golf course within is one of the amenities avasilable to Misty Creek residents. Good shcools including Lakeview Elementary, Sarasota Middle and Riverview High are Sarasota County Schools serve the community but magnet, parochial and private schools are also available.

This outstanding home at 8311 Eagle Crossing in this incredible golf and country club community is truly one you must see if your plans include the possibility of becoming a Sarasota resident. Its amenities both in and out are just too numerous to mention.

The current owners are motivated but not foolish and are willing to consider serious offers from serious buyers. Furnishings are available under a separate contract.

If you'd like to tour this home this week, call me at 941.266.1799. I'd be happy to show you this and other Sarasota golf course homes throughout the Sarasota and Bradenton area. When you call, please mention MLS # A4107262.

Broadway Promenade - Enjoy "The Good Life" in Sarasota Florida

  A grand condominium built to offer the "good life" to it's residents, Broadway Promenade offers a luxurious lifestyle including concierge and valet service, a Publix grocery store, plus retail & office space right within the complex. Other amenities include a gathering room, a library, a billiards room, a fully-equipped athletic center, a resort-style heated pool and sundeck, saunas, and an outdoor grilling area.

  Broadway Promenade is one of the most affordable, newer downtown Sarasota condos and yet it is located right in the Arts and Cultural District of Sarasota across the street from Sarasota Bay. The Van Wezel Performing Arts Hall and Players Theatre are within a comfortable walking distance as are numerous other theaters, concert venues, fine restaurants, art galleries, and boutique shopping venues.

  The eclectic shopping and dining at St. Armands Circle is a short trip across the Ringling Bridge while the Lido Key's beaches and warm waters are just a hop and a skip beyond St Armands. For those who own a boat, marinas and mooring areas are also nearby. And, for your convenience and security, underground parking is available.

  If your plans don't support the notion of buying one of the much more expensive Downtown Sarasota condos, a Broadway Promenade condo might be perfect for you. The 187 residences at Broadway Promenade range from cozy 860 sq.ft. units to some with over 2,050 sq.ft. Units have from 1 to 3 bedrooms and all have private balconies facing Sarasota Bay, Downtown, the park or the central courtyard of the complex. Broadway Promenade condos are priced from the $200's to the mid $300's although there are a few 1 bedroom units that sell for less than $200,000.

  I would be delighted to show you Sarasota condos for sale at Broadway Promenade or any of the several other Downtown Sarasota living opportunities.

  If you'd like more information on Broadway Promenade or other reasonably priced Sarasota condos, call me today at 941.266.1799. If Broadway Promenade doesn't seem to be exactly what you want, I invite you to visit my Sarasota real estate website where you'll be able to review to the full range of residential options available to you in Sunny Sarasota Florida.

Do You Know About the Sarasota Luxury Condos at the Alinari Complex

  The Alinari luxury condominium complex located at 800 Tamiami Trail, Sarasota consists of two buildings, the Renaissance Alinari andthe Alinari at Rosemary Place, next door. Both are located across the street from the Van Wezel Performing Arts Hall and Centennial Park. Among all Sarasota condos, the Alinari rates as one of the most attractive and most attractively priced Downtown Sarasota condos for the amenities offered.

  Alinari at the Renaissance is a 16-story tower with 244 one, two and three-bedroom floor plans as well as unique terrace and garden lofts, plus penthouse choices including a 2-story floor plan, all with spectacular views of Sarasota Bay and the Arts and Cultural District. Alinari at Rosemary Place, completed in 2007, includes 205 one, two and three bedroom residences with equally appealing views.

  Both Alinari towers are within walking distance of the acclaimed Van Wezel Performing Arts Hall and the Players Theatre, and only minutes from the Sarasota Opera House, Sarasota Orchestra, Asolo Theatre, Ringling Museum of Art, Selby Botanical Gardens and Sarasota's beautiful beaches on Lido Key.

  Amenities at the Alinari luxury condominiums include:

• Concierge service, Billiard room, Fitness center, and Poolside cabanas
• Lap pool, Spa and Saunas
• Movie theater
• Guest Suites
• Temperature-controlled Wine cellar
• High Speed Internet and Business Center
• Controlled Access Parking
• Climate-controlled storage

  Alimari luxury condominium residences are typically available from the lowto mid $300s to $1.3 million for the penthouse units. These spacious Sarasota condo living spaces range from 1,070 to 2,595 square feet

  Here's an example of what's available at Alinari. This is the view from the terrace of your turnkey-furnished 2 bedroom, 2 bath unit with 1,323 sq feet of air conditioned space. It is tastefully decorated and just waiting for your arrival.

  You will enjoy the Downtown Sarasota condo lifestyle at its best here at Alinari, or if you choose, use it as a rental income investment for the attractive price of $380,000.

  If you'd like to tour this attractive Alinari condo for sale this week, call me at 941.266.1799 and please mention MLS Listing # A3997867. Id at his point you'[d just like to know more about your Sarasota real estate options available to you, visit my Sarasota real estate website.

Truly Unique Longboat Key Penthouse Residence Now Available at Tangerine Bay Club

  If you have been seeking a truly unique Longboat Key luxury condominium residence, here it is - a stunning penthouse residence sitting atop the Tangerine Bay Club with magnificent views of Sarasota Bay and the Sarasota skyline.

  Tangerine Bay Club is a complex of 90 luxury condos in 10 Mediterranean architectural style buildings behind the security and privacy of a 24/7 manned gate. Two-story penthouses like this one sit atop each building. Laid out in a horseshoe formation around an attractive lagoon, these Longboat key luxury condos overlook an island with a resort-size, heated swimming pool with waterfalls and spa. Other amenities include a state-of-the-art fitness center and a well-equipped club house.

  You'll enjoy 3,010 square feet of spacious living featuring three bedrooms, four and one-half baths as well as an office or den area on the second level. Soaring ceilings, skylights, a gas fireplace in the great room and stunning marble floors are just a few of the wonderful details that make this condominium residence so special. All three bedrooms are en-suite, perfect for accommodating family and friends. A huge, private two-car garage offers lots of additional storage.

You will also enjoy morning or evening strolls through the lushly landscaped property, over the bridge to the fabulous waterfall pool or to the fishing pier and day dock.

  This is a perfect location across the street from the Longboat Key Club Islandside golf courses, just minutes from the St. Armand's Circle shopping and dining mecca and just another 5 minutes across the Ringling Bridge to all the arts, cultural, shopping, dining and entertainment venues of Downtown Sarasota.

  This unit is available to you for $1,164,900. Furniture in the unit is available for purchase under a separate bill of sale for $15,000, but the oil painting over the sofa in living room is excluded.

  Longboat Key luxury condos like this one are seldom available at this price point, so call me now at 941-266-1799 to tour this uniquely stunning penthouse. Please mention MLS # A3982935 when you call. I'd be delighted to show you this property this weekend.

August Real Estate Report for Sarasota Florida

  The National Association of Realtors (NAR) announced this month that existing home sales climbed nationwide by 2.4% to a seasonally adjusted rate of 5.15 million. On the bright side, the pressures that caused home sales to stall last year seem to have eased. The average 30-year fixed mortgage rate has dropped back to just over 4.1% and home prices are no longer rising at double-digit annual rates.

  Unfortunately, all that positive news aside, the outlook for real estate sales nationwide is also showing some weaknesses. Viewed regionally, July home sales in the Northeast were flat while Midwestern home sales increased by only 1.7% and remain 4.7% below the July, 2013 level. Home sale in the South did rise by 3.4% although the increases were not evenly spread across the whole region and in the West, sales climbed by only 2.6%, still 8.6% below the rate of sales in 2013.

  The S&P/Case Shiller index of 20 metropolitan areas reported in August that single-family home prices in those markets actually declined slightly in the first half of 2014. Lawrence Yun, NAR Chief Economist, warned that in upcoming months, the affordability of homes will most likely decline as median household incomes continue to lag inflation and the job market, while improving, is doing so only slowly and not evenly across the nation.

  A reputable economic agency reported that across all income levels, incomes have actually lost ground to inflation in the first half of 2014. According to a Rutgers University report, 41% of those surveyed reported that they have less pay and savings now than before the recession began in 2007. Only 7% of respondents say they're better off now. Adding to the downbeat outlook, as the Fed starts allowing interest rates rise in 2015, mortgage rates will inevitably rise making home affordability an even bigger issue. None of these factors bodes well for the housing industry across the United States.

  But then there's the Sarasota Florida “Sun Coast” area including Bradenton, Lakewood Ranch, and the barrier islands, Longboat, Lido, Bird and Siesta Key and Anna Maria Island. Here, you'd never know there that the housing market is facing headwinds. To date this year, Sarasota real estate sales volumes have been running at a near record breaking rate. The Sarasota Association of Realtors (SAR), reported that property sales in Sarasota County reached almost the 1,000 level for the fifth straight month in July. The year-to-date pace remains at or close to the near-historic level of sales rate in 2013. August sales, while a bit slower because this is the slowest time of the year for home sales, still look healthier than they have in years.

  In Sarasota County, the median sale price for the 12-month period ending in July, a statistic that moderates the effect of monthly swings, was up 11.2% for single-family homes and up 10.6% for condos over last year; a far different scenario than one sees on a nationwide basis. The inventory of homes and condos available for purchase dropped in July by a fairly significant one month decline of 6.7% as buying keep snapping up homes. The month’s supply of inventory for single family homes stood at a 4.4 month supply and for condos only a 3.8 month supply. “The Sarasota real estate market remains a seller’s market, with low inventory and rising prices,” said SAR® President, Peter Crowley. “All the numbers point to a very healthy 2014 for Sarasota County real estate.”

  Part of the reason the Sarasota real estate market is doing so well is clearly the affluence of the area and the real estate market. A higher than normal rate of home sales here are done as all-cash transactions especially for reasonably affluent folks at or approaching retirement.

  But the affluence of the area, alone, doesn't explain why, quite the opposite of the nationwide situation, the Sarasota real estate market continues to grow at a robust rate. Clearly something else is at work here. In fact, the reason so many people of all ages and incomes choose to live, work and retire in Sarasota Florida is not difficult to understand.

  Those who love sunshine and a year-round warm climate who enjoy lounging on the beach, there are 35 miles of beaches in Sarasota County, Florida including world-famous Siesta Key with the softest, whitest sand in the world. And nowhere will you find more gorgeous sunsets to view as you sip a cocktail next to your country club or high rise condo pool than here on Florida's West Coast jewel.

  It's been said that “Sarasota offers all the amenities of a big city with the charm and casual lifestyle of a much smaller community.” With literally scores of galleries, theaters, boutique shops, casual and fine dining restaurants and entertainment venues in downtown Sarasota, at world-famous St Armands Circle and many other spots, there’s always something to do and see. There's a constant flow of public events including live music, art festivals, shows and parades.

  Sarasota, Lakewood Ranch, Bradenton, Osprey and Venice offer over 80 public, semi-public and private golf courses which will challenge every level of player and those courses are surrounded by communities of golf course homes, villas, and condos in all price ranges.

  Boaters, day-sailors, scuba divers and fishermen love the wide variety Sarasota of private docking facilities, marinas, yacht clubs and the warm, crystal clear waters of Sarasota Bay, the Gulf of Mexico the Manatee River and many smaller lakes and ponds.

  Arts and culture buffs know Sarasota as "Florida's Cultural Coast," home to the Sarasota Orchestra, Sarasota Ballet, Sarasota Opera, the Van Wezel and Asolo theaters, the Ringling Museum and mansion and many other local venues.

  As for housing options, Sarasota has the widest range of housing styles, prices and locations you can imagine from wonderful golf course and waterfront homes and condos, to historic neighborhoods and more than its share of Sarasota luxury homes and condos.

  And, Sarasota County offers some of the best health care, long term care, and active living facilities for seniors in the nation.

  Perhaps the question you should be asking isn’t "why is the Sarasota Florida area doing so well when other regions of the country are not", but rather "why aren't you living here? "

  My goal as your Sarasota Realtor is to help you find and buy the perfect home or condo in the Sarasota Florida real estate market in the right neighborhood at a right price with a minium of hassle and frustration. I'd be delighted to answer your questions Sarasota itself or about the homes and condos options that might best suit you in Sarasota, itself, or in next door communities of Lakewood Ranch and Bradenton, Osprey and Venice. You may wish to peruse my website dedicated to homes for sale in Sarasota Florida. For an immediate response, though, call me today at 941.266-1799

Sarasota Florida Real Estate Report for March, 2014

Unlike other parts of the country that have now experienced three months in a row of declining home sales, the Sarasota real estate market in March remained stable, even continuing its steady improvement as time goes by. In January and February, there was some concern that perhaps the Sarasota market was stalling out, but that fear has gone away with the March rebound in both closings and pending sales.

Sarasota County home and condo sales in March, 2014 topped 1,000 for the first time since May 2013. March closings came in at 1,050 (698 single-family and 352 condos) almost the same as the volume a year ago but a substantial uptick from the February 2014 sales volume of 787.

Pending sales at the end of March remained at a healthy level, topping 1,200, a level not seen in the past 3 years. These sales will close in coming months indicating that the months of April and May will show equally healthy closed sales volumes.

Peter Crowley, President of the Sarasota Association of Realtors® said in his monthly report, “This spring has seen very robust sales, just like last year. Agents have been busy and buyers are actively investing in the Sarasota real estate market."

The median sale price for single-family homes stood at just under $189,500. The median condo sale price in March was $170,900, just above the year-ago number of $165,000. The median sale price for the rolling 12-months ending in March, which tends to moderate month-to-month swings, was $188,000 for single-family homes, about 20% higher than the previous 12-month period. For condos, it was just over $166,500, up 9.2% over the previous 12-month period.

The inventory of homes for sale in Sarasota County dropped slightly in March to 4,810 after topping 5,000 in February, a very manageable 3.8% month-over-month drop. Maintaining a healthy inventory of properties available for sale helps to keep prices from rising too fast.

If you would like to know more about the Sarasota real estate market in general, or the cultural, shopping or recreational amenities of Sarasota, call me today at 941-266-1799 or visit my website dedicated to homes for sale in Sarasota Florida. I'd be happy to be of assistance.

Yet Another Luxury Condo to be Built in Downtown Sarasota - One88

    In the past few months demand for high-end Sarasota condominiums has come roaring back in Southwest Florida and particularly, here in Sarasota. Yet another developer has now decided that Sarasota is the place to build new luxury real estate properties. The Vandyk development company of Toronto, Canada was in Sarasota two weeks ago to unveil plans for One88, another limited-size condo development on prestigious Golden Gate Point. The site of this latest new luxury condo development is at 188 Golden Gate Point overlooking Sarasota Bay and the John Ringling Bridge.

    One88 will join AQUA being built nearby at 280 Golden Gate Point and others in this recent burst of new luxury condominium developments getting started in downtown Sarasota. The Jewel Residences, being built at the corner of Main Street and Palm Avenue, with 18 luxury residences ranging from 2,100 to over 4,300 square feet,is still another major development currently underway in the Downtown Sarasota waterfront condos market.

    John Vandyk, president of the company developing One88 said at the unveiling that, having visited Sarasota many times for pleasure, “there is a lot of art and culture here in Sarasota, and the people are very kind. It’s a different lifestyle, a beautiful lifestyle.”

    Like AQUA, One88 will have just eight residences. One88 will have two residences on each floor, each with about 3,000 square feet of air-conditioned space with over sized terraces. The limited size of the development was in part dictated by the small size of the lot on which it will be built. Unlike other developers, Vandkk is not taking reservations for these Sarasota luxury condos. "We're going direct to contract," the developer's spokesperson said.

    Prices range from $2.6 million to $3 million on the first three fours. The two penthouses on the fourth floor, which have rooftop terraces are currently priced at $3.9 million. A unique feature of these luxury boutique condos is that buyers of each residence will receive a social membership at the Sarasota Yacht Club. The Sarasota Yacht Club, one of the most prestigious yacht clubs in Sarasota offers the benefits of a member-owned private social club with extraordinary services and facilities regardless of whether the member owns a boat or not. The docks at the yacht club can accommodate boats up to 100 feet and drafts of up to 10 feet.

    Explaining why the Vandyk group chose Sarasota for their first investment in the United States, Karin Silver, Vandyk USA VP of Marketing & Sales said, culturally, we like Sarasota better than Naples or Miami. There is the right balance of culture and amenities here. To us, Sarasota is a diamond in the rough, a hidden jewel. There is pent-up demand here."

    Your home at One88 on prestigious Golden Gate Point wil be just a few steps away from downtown Sarasota with all its restaurants, shops and galleries and only a short drive across the John Ringling Bridge to St. Armand’s Circle and the beaches of Lido Key.

    Vandyk plans to develop another downtown Sarasota property at 635 S. Orange Avenue in Burns Court, though it’s not yet decided exactly what form that project will be.

    Call me at 941.266.1799 to learn more about One88, AQUA or other attractive Downtown Sarasota luxury residences.

Misty Creek Golf Course Home For Sale Now

By Rich Stover

This 2,788 sq. ft home in the gated community of Misty Creek is a nature lover's retreat complete with lakes, wildlife, mature trees, and sidewalks throughout the community. Golf and tennis are optional. This community has no CDD fees.

This meticulously well kept and recently updated home is move in ready featuring an amazing master bedroom and bath and walk-in closet plus dual shower and sinks with a lovely garden tub. You'll entertain in the beautiful dining room and living room or, as you cook in the comfy gourmet kitchen. Stainless steel appliances, granite, tile, and tons of cabinets. A large laundry room has plenty of storage space.

The family room has a wood-burning fireplace with built in bookshelf and glass shelves. The two guest bedrooms and bath have a pocket door for privacy and there's even a fourth bedroom which could be used as a study or in-laws quarters with it's own private bath and exit to the lanai and pool. Crown mouldings and tray ceiling add a touch of class to this home.

Enjoy swimming in the heated pool and relaxing in the hot tub with amazing lake views during the sunset hours while deer and sand cranes wander by.

The oversized garage has room for your own private golf cart and the price includes a one-year free golf membership . Available turnkey furnished on a separate bill of sale. Siesta Key beach is just a short drive as are shopping, restaurants, doctors, hospitals and St. Armand's Circle.

The Misty Creek 18-hole golf course and country club offers an endless array of activities for its members. For those few who need a break from golf, the social amenities at this active country club include dances, parties, dining facilities, bar and lounge, snack bar, and 4 tennis courts.

Come see this one an fall in love with it today for $569,000 today. Call me today at 941-266-1799 for an appointment to see this gem!

Take Me Out to the Ball Game

By Rich Stover

    It was back in 2009 that the Baltimore Orioles made the decision to relocate their Spring Training baseball camp from Fort Lauderdale to Sarasota Florida.  A lot has happened since then.  This year will mark the fifth year the Baltimore Orioles have been here and their fourth year in the renovated Ed Smith stadium.

   Today, the Ed Smith Stadium, located at 2700 12th Street at the corner of 12th and Tuttle in the northeastern part of Downtown Sarasota, is a facility the city of Sarasota can be proud of and it has been drawing large crowds to the Orioles home games.  During the 2013 Spring Training season last Spring, the Orioles set an all-time record with 120,455 attendees.  The Orioles also set a franchise record in 2013 with 9 sellouts, including an Ed Smith Stadium single-game record of 8,797 fans.

    Ed Smith Stadium is a great place for baseball enthusiasts to catch a few pre-season games.   Unlike some spring training camps, there's plenty of parking available right at the stadium.  There are lots of concession stands, an on-site team shop, and, for those so inclined, a several suites that can be purchased by celebrities and businesses to watch games with friends or business associates.  While there are some who complain about the small size of the Ed Smith stadium, it is just about the right size if you're one of those who likes to get "up close and personal" with the team's players.   You can almost touch them from the front row seats.

    Today, February 14th, marks the first official day of spring training workouts for Orioles pitchers and catchers.  Baseball fans who've been waiting for this can watch the team work out on the back fields of the complex for free every day until home games begin.  The first full-team workout will be on Wednesday, February 19th.  Thereafter, the team will work out from about 9:15 a.m. to noon each day until the first home game against the Toronto Blue Jays on Saturday, March 1st.

    For security reasons, no umbrellas, hard-sided coolers, thermoses, glass bottles, cans or alcoholic beverages are permitted in the stadium.  Non-alcoholic beverages in plastic bottles are permitted in the park although all items will be checked at the gates and any beverage which has been opened or partially consumed prior to entry is subject to confiscation if it is thought to contain alcohol.

    So, what if you're not a big Orioles fan.  Come on out anyway. You can watch the Orioles play against visiting teams including the Tigers, Yankees, Red Sox, Blue Jays, and, of course, the local favorites, the Tampa Bay Rays.  Individual game tickets have been on sale since the end of January, but tickets can often be purchased on the day of the game as well.

    The Orioles have been very charitable toward Sarasota.  Since moving year-round operations to Sarasota from Fort Lauderdale in 2010, the Orioles have donated more than $1.3 million in cash and in-kind contributions to our community. And, the team has on-going out-reach programs in place year round.

    Whether you are a seasonal visitor or a permanent resident of the Sarasota Florida area, you may want to take in a Baltimore Orioles spring training camp game.  Like other sporting venues being developed all around the Sarasota area, like the Competitive Rowing Facility being built at Nathan Benderson Park, spring training baseball games provide yet another truly pleasant way to enjoy the sunny Sarasota Florida lifestyle.

    If you are in the market for a home or condo here in the Sarasota real estate market, call me today at 941.266-1799.  I’d be delighted to answer your questions and offer suggestions on where we can find the property that best matches your needs and desires here in sunny Sarasota Florida.

Trends Suggest a Banner Year for Sarasota Home Sales in 2014

Residential home sales in the Sarasota real estate market continue to exhibit strength as we enter 2014.   During the year 2013, 11,184 homes and condos were sold, the second highest total since home and condo sales have been tracked.  And if current trends continue as they look likely to, 2014 will be an even bigger year.

Sarasota Association of Realtors President Peter Crowley reported that “December was a great month for Sarasota residential sales. Many of our seasonal residents and visitors appear to have  decided to buy this year." This trend has been attributed to higher mortgage interest rates expected in 2014”  Others suggest that the substantial rise in the stock market during the past year has made more people willing and able to consider buying a second home here in Sarasota.

Existing homes are selling well in both Sarasota and Manatee County and out on the popular Barrier Islands.  Home sales in Lakewood Ranch, for example, have been particularly strong in upscale neighborhoods and in Esplanade, the all-new "active adult lifestyle" community.  Of the 573 homes sold in Lakewood Ranch last year, nearly 350 of them were new-consruction homes.  The limited number of existing homes for sale has led builders across the area to become aggressive in buying lots and raw land to meet the expected high level of demand for homes in 2014.

Sarasota area luxury homes and condos on the Sarasota waterfront and on the Barrier Islands were also being bought at a rapid pace as 2013 closed out.  The luxury homes recovery is occurring predominantly in the $500,000 to $2 million categories where sales increased in 2013 over 2012 by 39%. Luxury porperties priced above $2 million have continued to be stalled although with a few outstanding exceptions.

In addition to the high level of existing home sales, there has been a very noticeable uptick in new construction just about everywhere lots and open land are available.   Builders and developers spent more than $60 million purchasing nearly 1,250 acres of raw land and 294 building lots from Bradenton and Lakewood Ranch to Punta Gorda in December alone. Builders buying up land locally include all  the major players including Neal Homes, Taylor Morrison, DR Horton,  Ashton Woods and many others.

The demand for new homes isn't limited to modestly-priced homes.  And, the demand for luxury homes is not limited to just  Sarasota condos along the waterfront and out on popular Barrier Islands like Longboat and Siesta Key.  New luxury homes are in demand and being built in many other Sarasota communities like The Lake Club in Lakewood Ranch.  Back in 2006, when that gated, Tuscan-inspired community opened, its 10 opulent, estate-sized model homes carried price tags of $3.5 to $8 million. Then, during the housing slump of 2008, ’09 and ’10, activity slowed to a crawl.  That has now changed.   Of the 34 new-construction homes sold in The Lake Club in 2013,  the average price was over $1.2 million.   Today,  there are 28 more ultra-luxury  homes in the 7,000+ square foot range being built in The Lake Club, but not as spec homes.  All of them are already sold.

With all this new demand, Neal Homes President, Past Neal, was quoted as saying  “Land prices are going up and so are the prices of drywall, framing labor and concrete. Pretty soon home prices will have to start going up too.” 

So trends suggest that 2014 will be a record-breaking year for Sarasota real estate sales, and with the cost of everything from the land to labor and materials rising, if you’ve been thinking about buying a home, a villa or condominium here on the Sarasota Sun Coast, you should contact a Sarasota Realtor very soon and get started.  The bargain prices on short sale and foreclosure properties of yesterday are largely gone, but there is still time to buy that dream home or condo before prices rise further.

If you are in the market for a Sarasota luxury home or condo, call Rich Stover today at 941.266-1799.  I’d be delighted to answer your questions and offer suggestions on where we can find the property that best matches your needs and desires here in sunny Sarasota Florida.

Have You Visited PepperTree Bay on Siesta Key

    Located directly on Siesta Key's beaches, Peppertree Bay sits on 16 acres extending across the width of Siesta Key from the Gulf of Mexico to Sarasota Bay.  Peppertree Bay consists of garden homes, 2-story townhomes, and five high-rise buildings.  PepperTree Bay consists of two sections, Gulfside and Bayside.  The Gulfside section is located directly on Siesta Key's world-famous Crescent Beach and the Gulf of Mexico while the Bayside section on the other side of Midnight Pass Road, faces Sarasota Bay and the Downtown Sarasota mainland.

    Peppertree Bay includes 362 units, in five floor plans, with most units ranging between about 975 and 1,550 square feet.  Some Gulfside units are directly on the gulf beach.  Others face either Sarasota Bay or well-maintained garden areas. Some units have private garages and there is also plenty of room for guest parking.  This Siesta Key condo property, though built in the early to mid 1970's, is exceptionally well-maintained.

    Most Peppertree Bay units are sold on a turn-key, furnished basis.  Units sell in a range from the high $200's to over $500,000 with units on higher floors and closer to the waterfront selling at higher prices, but, owners of all units enjoy a complement of features including two swimming pools, tennis courts, a fitness center, barbeque facilities and a gorgeous private beach.  There's even a fishing pier on Roberts Bay for those so inclined.  There is also an on-site rental office to assist those wishing to rent their units. Units may be rented for a minimum term of 30 days up to four times a year. Pets are not allowed.

    Peppertree Bay residents enjoy a carefree and casual lifestyle within a comfortable walking distance all of the eclectic shops, boutiques and casual dining experiences for which Siesta Key is so well-known.

    If you would like to know more about Peppertree Bay, other Siesta Key or Sarasota waterfront real estate opportunities, it would be my pleasure to assist you. Please visit my Sarasota real estate website or, for an immediate response to your questions, call me today at 941-266-1799.

Sarasota Real Estate Outlook for 2014

By Rich Stover

The month of December proved to be another good month for home and condo sales in Sarasota including the barrier islands, Lido, Bird, Siesta and Longboat Key as well as in the neighboring communities of Bradenton and Lakewood Ranch.  The number of properties on the market at this point remains tight and as a result of continued demand, prices are rising.

The peak tourist season is just kicking off as our snowbird friends from the northern U.S. and Canada come into the market. This increase in demand, along with the current tight supply of homes on the market has driven the median price of condominiums up by over 20% from the level last year at this time.   Similarly, the median price of single-family homes is 11% above the level at this same point a year ago. A continuation of such dramatic increases in home prices coupled with expected higher interest rates could derail the housing recovery in 2014, but there are factors at work here in Sarasota that will counter that risk.

First, the slight drop-off in sales volumes in the months of November and December was due, in large part, to the tight supply of homes available for sale.  But, as prices have risen, more homes and condos are beginning to come on the market.   At the end of November, there were 4,288 properties on the market compared with 4,032 the prior month.  This uptick in the supply of homes available will help keep the market from becoming overheated. 

Second, the affluent nature of the Sarasota area is such that modest increases in the mortgage interest rates, if they occur, will not have as big an impact on Sarasota as it would on other real estate markets. As in the past, Sarasota waterfront condos and upscale Sarasota golf course homes, in areas like the Lakewood Ranch Country Club and Country Club East developments are frequently sold on an all-cash basis,

Sarasota Association of Realtors President Roger Piro suggested recently that the strong attendance Realtors are seeing at open houses, coupled with the traditional increase in seasonal residents we see at this time  suggests, based on past trends, that Sarasota will continue to experience a busy real estate market in the coming winter and spring months and probably see continued strength through the rest of 2014.

Lawrence Yun, the chief economist for the National Association of Realtors has a similarly positive, yet balanced, outlook for 2014. He suggests that two forces will balance each other out.  Rising interest rates may tend to dampen home sale volumes slightly but, at the same time, he sees buyers becoming more emboldened to make the buy decision buoyed by both improving job numbers and more lenient mortgage qualification standards.  Existing home sales, he forecasts, will remain at a healthy rate of about 5.1 million units.  And, while new housing starts have languished in 2013, Mr. Yun predicts new housing starts will increase by 18.5% from 430,000 in 2013 to 510,000 in 2014.  This increase in supply will help moderate price increases and offset the effects of slightly higher interest rates.

 In summary, the most likely scenario we see at this point is for the Sarasota real estate market to stabilize in 2014 at a healthy level, not expanding so fast as to create another bubble,  but also not depressed by higher mortgage interest rates.   

We see Sarasota benefitting in 2014 from healthy trends that are occurring both nationally and locally.  And unless something foolish is done in Washington to inflict new damage on the economy, 2014 looks to be a good year for the sales of homes for sale in Sarasota Florida and the people lucky enough to live in this wonderful area. 

If you would like a more complete understanding of why now is the right time to invest in a Sarasota waterfront home or perhaps a downtown Sarasota condo or a golf course home, please contact me at your convenience.  For a more immediate response to your questions, call me on my cellphone at 941-266-1799 today. I'd appreciate the opportunity to be of service to you.

Introducing Citrus Square - A Unique Downtown Sarasota Housing Option

For those looking for affordable Sarasota condos right in downtown Sarasota, you may be surprised to learn that quite affordable the condominium units are  available at Citrus Square, a relatively new residential and retail community.  Citrus Square runs from 4th Street to 6th Street along pedestrian-friendly North Orange Avenue adjacent to the trendy Rosemary District, just a few blocks north of Main Street.

Citrus Square is an unusual concept available to those who like the idea of  living in downtown Sarasota but want to avoid the massive high-rise nature of many of the other options available.  Built in 2009, these three-story buildings with uniquely classic facades include several upscale boutiques on the first floor with luxurious one and two bedroom condominiums on the two upper floors.  Residents of Citrus Square can comfortably walk downtown to shop, dine, or take in a movie or meet friends for coffee or dinner in the café/bakery or the restaurant right downstairs. 

 

The 16 units in this complex ranging in size from 644 to 1,240 square feet are among the most value-priced condominiums in downtown Sarasota.  The economical $289 per month maintenance fee, one of the lowest for comparable condos in Downtown Sarasota, covers all exterior maintenance, grounds care, building insurance and reserves. These units are pet-friendly and can be rented out for a minimum term of 1 month, up to 12 times a year..

 

In my opinion, the location, creative floor plan layouts and quality construction of these units makes them ideal for those seeking a uniquely different, yet distinctly high-end, lifestyle within walking distance of just about everything.

 

Units available at the time of this writing range in price from the mid $200's to about $425,000. I invite you to ask me to show you these unique Citrus Square condominium homes. If the in-town lifestyle is not your "cup of tea," then visit my Sarasota real estate website for more options or call me directly at 941-266-1799 for an immediate response to your questions.

Consider Investing in a Sarasota Vacation Home

Buy Property in Sarasota for a Dream Vacation Home
    Sarasota is a beautiful city and a fabulous place to take a vacation. It offers wide sandy beaches, water sports and recreational sporting activities, world class shopping, fine dining, and a host of fantastic entertainment opportunities too. If you love Sarasota as much as we do then you’ll know that all of these reasons, combined with over 300 days of sunshine every year, make it the perfect place to buy a vacation home. More than 250,000 people (both from America and abroad) buy property in Florida each year and it’s no wonder, as there are hundreds of great reasons why you should. Here are just a few of them:

Buy-to-Rent Vacation Property
    The short-term rental market in Florida is very strong with vast numbers of tourists travelling to Sarasota from other states, and of course the rest of the world, to take advantage of the fantastic weather and fabulous attractions. Florida is a hugely popular destination and stop-off point for transatlantic and domestic cruise liners, with many cruise passengers choosing to finish their vacations with a week in the Florida sun, perhaps playing a round of golf at one of the many Sarasota golf courses.

    As Planet Cruise says, the memories of cruising across the Atlantic remain forever, and it's easy to see why cruising is a growth industry in this region of the world. Sarasota is a coastal city making it the perfect beach destination, and a stay in Sarasota is often combined, as part of a two-center vacation, with a stay at the Disneyland or Universal Orlando resorts. With all these options for vacations in Sarasota it’s no surprise that it is such a popular place to buy Sarasota real estate as vacation property for rental purposes, and the potential financial returns from doing so are massive. Renting your Sarasota property also allows you to have the best of both worlds: you can ensure your home is empty whenever you wish to use it yourself, and then make a profit from it by renting it when it would otherwise be empty.

Affordable Property
    One of the first questions every potential homeowner needs to ask before they make the decision to buy their own home is can they afford to make this purchase. You need to think not only about your current financial situation but also any potential changes to that in the short term future: is your job safe for example, or are you planning to start a family and dramatically reduce your combined income? There is a wealth of property in Sarasota suitable for a range of budgets so look for a property with the lower end of your budget in mind, rather than stretching yourself to purchase something you can’t really afford. For overseas potential buyers the value of the Pound and Euro are still strong against the dollar, making America a very attractive and affordable place to invest in one of our attractive communities of Sarasota golf course homes or perhaps a waterfront condominium in Downtown Sarasota. You’ll get considerably more for your money and the weather alone makes Sarasota a much better place to buy a vacation home than, say, London!

    America is the third most popular place in the world for British people to buy vacation property (after France and Spain) and another benefit of buying in Sarasota for overseas buyers looking to invest in foreign property is of course that there is no language barrier, as there would be in France or Spain. You can discuss your specific requirements with your realtor and feel confident that none of your requirements would be overlooked or lost in translation.

Florida is Much More than Orlando!
    When many people think of Florida, they immediately think about Orlando and all of the attractions it has to offer. But Florida is about so much more than Disneyland and Universal Studios. Coastal regions like Sarasota are in fact considerably more beautiful than Orlando, and particularly attractive to tourists and vacationers, as well as people looking to permanently relocate to warmer climes and make Florida their home.

    For more information on homes and condos for sale in Sarasota Florida, please send me an E-Mail or, for an immediate response to your questions, call me today in Sarasota Florida at 941-266-1799. International callers, please dial 001-941-266-1799.

Higher Interest Rates Are Not Depressing Home Sales

The average rate on a 30-year fixed rate mortgage fell for the second week in a row this week to 4.31%, down from 4.37% last week according to Freddie Mac.

While the rate has now fallen for 2 weeks, the rate is still nearly a full percentage point above the level it was at in early May. While rates are still low by any historical measure, they have risen since the Federal Reserve suggested that it might begin reining in its bond buying program later this year. But, the higher rates do not seem to be depressing home sales.

Judie Berger, a friend of mine and respected Associate Broker and Sarasota luxury homes Realtor with Premier Sotheby's International in Sarasota Florida, said that in spite of the rising rates, homes for sale in Sarasota Florida continue to sell almost as fast as they come on the market. Realogy, the nation's largest residential broker, agreed saying that its transaction volume grew by 21% in the second quarter of 2013 from the level at the same time in 2012.

Builder confidence also remains high, rising this month to 57 on a scale from 1 to 100. At the bottom of the housing bust, that index had dropped to as low as 10. Builders attribute the improved confidence level to both higher traffic through model homes and higher expectations about future sales. Builder confidence in the Sarasota real estate market is indicated by the fact that several builders have started new developments or added on to existing developments in recent months in the popular Lakewood Ranch development.

Lakewood Ranch has been at the epicenter of home building activity in the Sarasota County this year driven by builders Taylor Morrison, Lennar and Neal Communities in both existing neighborhoods such as Central Park and Country Club East and the newest start-up community of Bridgewater.

For information on mortgage interest rates or the state of the Sarasota real estate market. feel free to contact me at 941-266-1799. I'd be delighted to answer your questions.