Tag Archives: Sarasota Real Estate

Condo Market Updates – Sarasota Real Estate

The city of Sarasota is located on a lovely stretch on Southwest Florida’s Sun coast, and is describe by many as being a paradise unto its own, with fine white sand beaches, a classy and diverse arts scene, wonderful shopping amenities, upscale resorts, country clubs, fine dining establishments and community events.

Along with the area’s stunning natural beauty and year-round good weather, these are among the finest reasons why the city ranks among the nation’s 15 most livable communities, based on a study by Money Magazine. The area’s residents know all to well charms and beauty of this southern city that best combines a relaxing atmosphere with all the comforts of big-city living. The city has a wonderful array of waterfront estates, golf courses, condominiums and villages that are carefully designed to compliment the city’s historic areas and neighborhoods.

How The City’s MLS Figures Performed in February 2008

According to a report by the Venice Area Board of Realtors in Sarasota County, around 110 pending home sales in February 2008 were registered, as compared to 85 in January 2008. This increase represents a rise of 29 percent.

In addition, the Sarasota Association of Realtors MLS figures have reported 654 sales pending for single-family homes and condos in February 2008, which represents an increase of 27 percent over the 516 sales reported pending in the first month of the year. Sarasota also registered 418 closed sales in February 2008, which was up by percent from the 327 closed sales in the first month of 2008.

How The Condo Markets Fared in 2007

For assessing the city’s condo markets in 2007, the city had more condo units sold over the first 11 months of 2007 than in 2006, and this represents an increase of 3%. The area’s m Median sale price for condo’s also went up by 6.3. %. These numbers are in stark contrast to the other condo markets in Florida, where condo sales and prices have slumped considerably in 2007 as well.

In general, the consensus among condo buyers, real estate brokers and analysts is that the condo market in Sarasota has better outperformed other state and regional markets. For example, a two-bedroom unit at The Plaza at Five Points, has started selling for around $650,000, and is now being resold for as much as $760,000, representing a 17% appreciation, while the certificates of occupancy have yet to be issued.

According to property market analysts, the Sarasota housing market, is expecting to add 1,883 units over the next three years, which are nearly 2,000 fewer than were built in the preceding three-year period. However, despite the gloomy present outlook, the future prospects for the area’s housing and condo markets as well are upbeat.

Among the reasons for the rosy forecast are the following reasons: More foreign buyers are interested in the area’s real estate market; Home prices have been slashed by 30%-40% since the market highs of 2005; Mortgage rates are low; Home lenders are loosening up credit a little bit; A property-tax relief amendment is on the way; The impending change in administration in Washington should increase consumer confidence; The presence of pent-up buyer demand; and home construction is very low, which means there are fewer new homes added to the market.

Vanessa Arellano Doctor
http://siestakeyrealestate.com

Siesta Key Real Estate Options To Consider

The city of Sarasota is considered to be one of the most vibrant mid-sized cities in the state of Florida.

According to a survey by Money Magazine, the city ranks among the nation’s 15 most desirable areas to live,as the county enjoys a prime location on the West Coast of Florida, which is about 60 miles south of Tampa and is a mere hours away from Orlando’s Disney World.

The city’s 36 miles of coast line are home to the world’s finest, pristine whitest-sand beaches. The city is also home to a number of barrier islands, called Keys, which offer both wonderful real estate options, as well as excellent areas for swimming, water sports, and other leisure activities.

Property Options In Siesta Key Are Wonderful

One of the city’s famous keys is Siesta Key. This area offers one of the best vacation and second home property options here. Many housing and investment observers see living in Siesta Key as a truly good deal, as the area offers upscale waterfront homes, condo units, and upscale apartment developments.

For businessmen, retirees and families seeking wonderful vacation homes, the place offers a wonderful array of investment choices, wherein your family can live in a comfortable beach atmosphere and have the privilege of using many watersports and leisure facilities.

The Key is famous for its offering of upscale, elegant condominium developments, and the most favored units here are the ones that are located near the beach. Prospective owners would surely enjoy living in close proximity the area’s fine white sand beaches, and most developments offer a wide array of amenities, and the units are offered in varying prices.

Tips Before investing In Sarasota Properties

For investors, the abundance of real estate options in this city would surely make your heads turn, and sometimes will make your thoughts spin in deciding which ones to choose.

Before investing in a wtaerfront home, apartment or condo unit, it would be better to first ask for advice from local property brokers, local housing agency officials, or agents of Multiple Listing Services (MLS) sites. The city has many property brokers who could assist you in finding suitable investment options, and can also assist you in evaluating each offer, as well as help you in crafting the best possible financing options for you real estate investment.

Siesta Key is a lovely 8-mile long barrier island located off the coast of the city. The place is connected to mainland Sarasota by two bridges, which makes it very convenient for residents to go to town and run some errands, or do some shopping in the city’s fashionable shopping districts.

The beaches in this Key are actually rated as one of the most attractive and beautiful beaches in the world. And the area also offers tourists and residents alike with wonderful facilities for just about every type of sporting or leisure activity such as bating, swimming, sailing, fishing, jet skiiing, dolphin tours, and sunset cruises. The Key is also home to many condo developments, and they outnumber the single family homes and dominate the beach area.

Vanessa Arellano Doctor