Archives June, 2011

The Neighborhood Report – Oyster Bay Estates

Discover the remarkable lifestyles available in Oyster Bay Estates. Pictured: 1414 N Lakeshore Drive.

Located West of the Trail and along Sarasota Bay, Oyster Bay Estates began as residential community after developer Robert W. Newman purchased the real estate in 1951 from the Woolley family, who previously used the land as a dairy farm. Many of the 168 homes in the community area were built at that time.

Market Activity – Oyster Bay Estates

Recent activity in Oyster Bay has been very positive, as four properties priced between $369,000 – $2,150,000 sold in the last 30 days and four are pending. This leaves only seven active properties priced between $489,000 and $3,750,000 available at this time, which once again reinforces the desirability of Oyster Bay. Other positive activity includes the multiple offers Kim & Michael Ogilvie received on a listing at 4475 Camino Real, closing it at $925,000—$26,000 higher than the asking price. (more…)

Michael Saunders & Company is pleased to welcome Stephanie Kitsemble to the Siesta Key office.

 

Originally from Wisconsin, Stephanie lived in San Francisco for 20 years before locating to the Sarasota area in 2003. With an extensive background in marketing, she owned and operated a marketing company for 18 years in the San Francisco Bay area. During this time, she also served as the US representative for a French transfer of technology firm.

After gaining experience working for a commercial developer in San Francisco, Stephanie obtained her real estate license in 2003 in Sarasota where she specializes in waterfront properties, the second-home market and investment real estate. Additionally, she has earned the Graduate of the Realtor Institute (GRI) REO Specialist (REOS) and Transnational Referral Certifications (TRC) designations. Prior to joining the Siesta Key office of Michael Saunders & Company, Stephanie was the broker for the Gulf & Bay Club here on Siesta Key.

A Window Of Opportunity

Throughout one of the strongest buyers’ markets in Florida real estate history, sellers have had precious little to feel cheerful about as they watched home prices deflate by as much as half from their boom-time highs of 2005.   But the clouds have since parted; and for now, at least, there’s a silver lining for would-be sellers who list their properties in the near future.   Here’s why:

For more than six months, Sarasota County home sales have been on a sustained upswing; with pending sales suggesting that the trend will continue.  During that time, the inventory of available homes has been pared down to just a six-month supply, traditionally the dividing line between a buyer’s market and a seller’s market.  Moreover, the number of new listings is also down by 31% versus six months ago.  (Source:  Trendgraphix; May 2011)

(more…)

Saunders Luxury Sales report for June 16, 2011

Michael Saunders & Company is proud to announce several closings made possible through the professional representation of our agents, who work each day to fulfill the unique needs of homebuyers and sellers.  For the week ending June 16, 2011, the properties below sold for over $1 million:

Linda Dickinson of Michael Saunders & Company represented the seller and Ann Martin of Michael Saunders & Company represented the buyer of a Twitchell designed home.  The property sold for $2,150,000 on June 6, 2011.

Michael Hays of Michael Saunders & Company represented the seller and Beverly Alter of Michael Saunders & Company represented the buyer of an amazing penthouse on Siesta Key.  The residence sold for $2,625,000 on June 6, 2011.

Nicole Hammons-Dovgopolyi of Michael Saunders & Company represented the seller of a beach residence on North Casey Key.  The property sold for $3,150,000 on June 9, 2011.

Jaime Carrion of Michael Saunders & Company represented the seller of a spectacular beachfront home in Boca Grande.  It sold for $3,900,000 on June 15, 2011.  Gasparilla Properties represented the buyer.

Beth Afflebach and Joan Dickinson of Michael Saunders & Company represented the seller and Sylvia Zimmerman or Michael Saunders & Company represented the buyer of a sophisticated condominium in the Tower Residences.  The unit sold for $2,250,000 on June 15, 2011.

Linda Driggs of Michael Saunders & Company represented the buyer of a stunning home on Bird Key.  The residence sold for $1,600,000 on June 10, 2011.  Coldwell Banker represented the seller.

Saunders Commercial Sale and Lease Report for June 15, 2011

Michael Saunders & Company is proud to announce serveral successful leases made possible through the professional representation of our agents, who work each day to fulfill the unique needs of commercial buyers, leasers and sellers.  For the week ending June 15, 2011:

LEASE 

Landlord:  Kodra Professional Center

Tenant:  David Stevenson

Address:  777 Palm Avenue, Units #1 & #10, Sarasota, FL  34236

Type of Space:  2,238 SF Office Space

List and Sale Side:  MS&C Agent Susan Goldstein

 

LEASE

Landlord:  Kodra Professional Center

Tenant:  Lee & Norman, LLC

Address:  777 Palm Avenue, Unit #8, Sarasota, FL  34236

Type of Space:  860 SF Office Space

List Side:  MS&C Agent Susan Goldstein

 

LEASE

Landlord:  Fred and Anne Swing

Tenant:  Matiassou-Ti-Maza

Address:  2765 Tamiami Trail, Unit E, Port Charlotte, 33952

Type of Space:  288 SF Office Space

List and Sale Side:  MS&C Agent Larry Schaper

 

LEASE

Landlord:  200 S. Washington Blvd., LLC

Tenant:  Florida CNA Skills Center, Inc.

Address:  200 S. Washington Blvd., Unit #9, Sarasota, 34236

Type of Space:  680 SF Office Space

List Side:  MS&C Agents Linda Emery and Eric Massey

Sale Side:  Sarah Lancaster

 

LEASE

Landlord:  MiraMar Plaza Associates, LTD.

Tenant:  Runding Corporation

Address:  45 – 79 Palm Avenue, Suite #222, Sarasota, 34236

Type of Space:  1007 SF Office Space

List Side:  MS&C Agents Linda Emery, Eric Massey & Sarah Lancaster

Sale Side:  MS&C Agent Linda Emery

 

LEASE

Landlord:  MBKK Properties, LTD.

Tenant:  Equity Management & Holdings, Inc.

Address:  400 Madison Avenue, Suite #208, Sarasota, 34236

Type of Space:  550 SF Office Space

List Side:  MS&C Agents Linda Emery, Eric Massey & Sarah Lancaster

Sale Side:  MS&C Agent Linda Emery

 

LEASE

Landlord:  Nu Beginnings at Sarasota, LLP

Tenant:  West Coast Construction Services Group, Inc.

Address:  7353 International Plaza, Unit #307, Sarasota, 34243

Type of Space:  1,176 SF Office Space

List Side:  MS&C Agent Peter Bartys

Michael Saunders & Company is pleased to welcome Diane Rosano to the Boca Grande office.

Originally from Connecticut, Diane relocated to Florida’s Gulf Coast when she settled in Boca Grande in 1997. With an extensive background in accounting, Diane worked for over 25 years as director of accounting for a graphics arts business before transitioning to real estate in 2002. As a professional Realtor, she has developed a specialty in assisting home buyers and sellers with waterfront properties.

Father’s Day – Top Sarasota-Area Father’s Day Ideas

Do dad a favor and skip the necktie this year.

Through the years, dad has received his share of neckties and tools for Father’s Day. This year, treat him to something different with one of our area restaurants or attractions that are serving up plenty of Father’s Day deals and specials.

Beyond ties and tools, here are our top ways to celebrate Father’s Day throughout the Sarasota area: (more…)

A Decade of Housing Inventory

Sarasota County
Highlights from latest Trendgraphix, for May 2011

The housing inventory in Sarasota County reveals a market whose quickening recovery offers a window of opportunity for both buyers and sellers.

If you’re a buyer, now is a wise time to intensify your search:
•    With prices at a ten-year low, each month ends with fewer select properties to choose from. Compared with April, there were 7.2% fewer properties on the market in May, 17.6% fewer than last May; and 57 % fewer than May of 2007 during the depths of the housing turndown.
•    Sarasota County currently has a six month supply of  available properties, the threshold widely considered the dividing line between a buyer’s and seller’s market. As if to prove the point, May’s median sale price rose 5.9% from the previous month.
•    Though too early to signify a developing trend, May’s median sale price of $144,000 was highest in a year.
•    The inventory of $1 million-plus properties is at its lowest level since January ’03, when the market had a 19.6 month supply. Today there’s a 16.9 month supply.

If you’re a seller, now is an opportune time to list your property:
•    Committed buyers are presently in the market in numbers not seen since 2005.
•    With inventories drastically pared down, the bulk of foreclosures temporarily off the market; and buyers protesting the growing shortage of  choice properties, now is an extremely opportune time to list your home for a potentially faster and more satisfying outcome.
•    With fewer competitive properties in the mix, the most desirable of today’s best-priced homes frequently receive multiple, competitive offers.
•    Selling empowers you to buy another home at an equally low price and move on with your life.

The Neighborhood Report – Waterlefe Golf & River Club

Tranquil waters create wonderful views for many homes in Waterlefe. Pictured: 10708 Riverbank Ter.

Uniquely nestled on the banks of the Manatee River at Upper Manatee River Road, Waterlefe Golf & River Club is the only community in Manatee County that offers its residents both a world-class golf course as well as remarkable boating water.

With 616 residences ranging from 1,254-square-foot condominiums to an executive boating water home of over 9,000 square feet, Waterlefe has many different types of residences to suit any taste. Residents also delight in exceptional community amenities, as the River Club at Waterlefe features a fitness center, a Junior Olympic-size heated pool, a tiki Bar and a wonderful restaurant and bar area. (more…)

Why It’s Time To Buy

To read this Wall Street Journal article in its entirety, complete with supporting graphs and images, go to wsj.com.

The Clouds Haven’t Quite Parted, But the Long-Term Case for Home Ownership Is Looking Stronger

By RUTH SIMON and JESSICA SILVER-GREENBERG

Back in June 2006, when the housing market peaked, the prospect of a five-year national housing bust seemed unimaginable to most people. And yet here we are, with the latest Standard & Poor’s Case-Shiller index showing that prices hit new bear-market lows, falling back to 2002 levels nationally and to 1990s levels in some battered regions.

Despite all the gloom, however, there are growing indications that it is a good time to buy. Mortgage rates, which fell to 4.55% for the week ending June 2, according to Freddie Mac, are near 50-year lows. Homes have become more affordable than they have been in years: According to Moody’s Analytics, the ratio of home prices to income is now 20.9% lower than the 15-year average through 2010, and 12.5% lower than the 1989-2004 average. A historic glut of homes, meanwhile, has created a buyer’s market: There were about 15 million vacant homes in the U.S. last year, according to John Burns Real Estate ConsultingInc.—some 3.1 million more than normal.

Such conditions might not last long. Moody’s Analytics predicts that the number of distressed sales will begin to fall in 2013, and that prices will begin to edge upward then. Home building is at a virtual standstill, so the supply overhang isn’t likely to get much worse. Meanwhile, demographic indicators such as “household formation”—the number of new households each year—are on the rise, and promise to take a bite out of the glut in coming years.

(more…)

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