Archives May, 2012

Saunders Luxury Sales Report for May 12, 2012

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 May 12, 2012, the properties below sold for over $1 million.

Doug Parks of Michael Saunders & Company represented the buyer of a custom built and never lived in estate on Longboat Key.  The residence sold for $3,300,000 on April 23, 2012.  Coldwell Banker represented the seller.

Carol Stewart of Michael Saunders & Company represented the buyer of a charming three-bedroom, four-bathroom cottage in Boca Grande.  The home sold for $1,195,000 on May 10, 2012.  Sotheby’s International Realty represented the seller.

Paul DeSantis and Nancy Sarajew of Michael Saunders & Company represented the seller of a luxurious Mediterranean-style home on Siesta Key.  The property sold for $2,500,000 on May 7, 2012.  Stagi & Company represented the buyer.

 

 

 

 

Linda Dickinson of Michael Saunders & Company represented the seller of a spectacular gated bayfront estate on Siesta Key.  The residence sold for $3,000,000 on May 9, 2012.  Coldwell Banker represented the buyer.

 

 

 

 

Kim & Michael Ogilvie of Michael Saunders & Company represented the seller and Lenore Treiman, also of Michael Saunders & Company, represented the buyer of a coastal traditional home with wide open water views.  It sold for $2,850,000 on May 8, 2012.

 

 

 

Pat Mudgett of Michael Saunders & Company represented the seller of a 2012 Showcase Designer Home just blocks away from downtown Sarasota.  The residence sold for $1,051,000 on May 10, 2012.  Coldwell Banker represented the buyer.

 

 

 

Linda Dickinson of Michael Saunders & Company represented the seller of a beautifully modern residence in Oyster Bay Estates.  It sold for $1,575,000 on May 11, 2012.  Sotheby’s International Realty represented the buyer.

Michael Saunders & Company is pleased to welcome Debra Germain to the St. Armands Circle office.

Originally from Louisville, KY, Debra lived in Orange County, CA, and Houston, TX, before finally settling in Sarasota in 1999. A real estate professional since 2000, Debra began her career in the industry with the New Home Division in Lakewood Ranch Country Club, where she worked for a high-end luxury builder. She later joined Michael Saunders & Company’s New Home Division and went on to engage her talents as a residential specialist, focusing on properties in the Lakewood Ranch Country Club, on Longboat Key and beyond.

New Listing Showcase – Sprawling Longboat Key Gulf Frontage

Discover this unique opportunity to own an expansive Gulf-front estate property with approximately 200′ of prime Longboat Key Beach frontage. The exceptional size and two-lot configuration provide the new owner many options for future development and enjoyment, including building a sizeable Gulf-front residence and guest home, or constructing a home on one lot and retaining the other for its investment potential. (more…)

Saunders Commercial Sale & Lease Report for May 12, 2012

Michael Saunders & Company is proud to announce several successful closings 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 May 12, 2012:

 

SALE

Seller:  Maranan Isidro

Buyer:  Mike and Janice Vitch

Address:  6326 Midnight Pass Road, Sarasota, FL  34242

Type of Space:  1,054 SF Residential Condo

Price:  $410,000

List Side:  Coldwell Banker, Ken Kiesewetter

Sale Side:  MS&C Agent Barbara Baseman (Residential Referral from Janis Collier, Main Street)

 

SALE

Seller:  Sharkstooth Properties, Inc.

Buyer:  Kenn & Rebecca Piotrowski

Address:  1290 Shore View Drive, Englewood, FL  34223

Type of Space:  4,622 SF Multi-Family

Price:  $280,000

List and Sale Side:  MS&C Agents John Weiss and Heather Schouten

 

SALE

Seller:  Frank & Mary Alfonso

Buyer:  Jessup’s Four, Inc.

Address:  1019 S. Tamiami Trail, Port Charlotte, FL  33953

Type of Space:  8,000 SF Retail Building

Price:  $520,000

List and Sale Side:  MS&C Agent Tom Farr

 

SALE

Seller:  Priscilla Figueroa

Buyer:  Linda D. Rich and Gregory Hengel

Address:  2412 E. Crescent Court, Bradenton, FL  34208

Type of Space:  1,830 SF Single Family Home

Price:  $84,000

List Side:  Keller Williams Realty Manatee, Linda Seybold

Sale Side:  MS&C Agents John Weiss and Heather Schouten

 

SALE

Seller:  Michael Bennett and Jon Grantham

Buyer:  All Directions Moving & Storage, Inc.

Address:  1401 Whitfield Avenue, Sarasota, FL  34243

Type of Space:  5,200 SF Industrial Building

Price:  $300,000

List Side:  Sperry Van Ness, Brett Kaplan and Michael Gilliand

Sale Side:  MS&C Agents Susan Goldstein and Howard Drourr

 

SALE

Seller:  Robasota Real Estate, Ltd.

Buyer:  First Cut Brazillian Steakhouse, LLC

Address:  1491 2nd Street. C-2, Sarasota, FL  34236

Type of Space:  416 SF Office Space (Relocation)

Sale Side:  MS&C Agents Eric Massey and Sarah Lancaster

 

SALE

Seller:  Konstatine Yankopolus

Buyer:  Michael and Elizabeth Blahnik

Address:  400 Waterside Lane, Nokomis, FL  34275

Type of Space:  2,603 SF Single Family Home

Price:  $299,900

List Side:  Premier Sotheby’s International Realty, Norm and Sandy Padula

Sale Side:  MS&C Agents John Weiss and Heather Schouten

 

 

Bradenton Real Estate – Garden Lakes

Pictured: 5601 Garden Lakes Majestic, #5601. MLS#: A3947940

Located in Bradenton, where it enjoys convenience to both Sarasota and St. Petersburg, Garden Lakes is a wonderful community with a total of 295 residences comprised of freestanding homes, paired villas and a smaller group of 33 condominiums, the Courtyards. The 262 units that are land-owned are set inside the gated section and are divided into seven separate components—three components of paired villas and four components of freestanding homes called the Village. The Courtyards comprises a separate eighth component. As each section was developed and built at different times—and sometimes by different builders—they became separate entities and each was set up as a condominium with the state of Florida. Subsequently, each component has its own board of directors and is basically self-ruling. In 1993, they declared themselves an age 55 or older community, so each new homeowner would now be required to have at least one person aged 55 or older living in the home. (more…)

Sarasota Real Estate – Buyer Demand For New Listings is Here, Now and Very Real

Favorable forces have finally conspired to make selling a home in Southwest Florida as easy as buying one has been.   Deflated prices, low interest rates and a recovering economy are just some of the factors that have helped ignite another boom in buying, which in turn has led to a serious shortfall in inventory.

As a result, every new listing of a previously-owned home captures the immediate attention of buyers who often bid-up the final sale price with multiple offers—provided the property is well-priced to begin with.   The vast majority of buyers are purchasing homes to live in and enjoy. The rest are largely paying all cash for properties to lease out in a gainful response to today’s simultaneous shortage of rental properties.

But what about the so-called “shadow inventory” of distressed properties we’ve been told could come cascading down at any time?  Aren’t there plenty of these to satisfy demand? (more…)

Saunders Luxury Sales Report for May 5, 2012

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 May 5, 2012, the properties below sold for over $1 million.

Kathleen and David Callender of Michael Saunders & Company represented the seller and Kim & Michael Ogilvie of Michael Saunders & Company represented the buyer of a 3-bedroom unit at The Sanctuary on Longboat Key.  The condominium sold for $1,045,000 on April 30, 2012.

 

 

 

Kim and Michael Ogilvie of Michael Saunders & Company represented the seller and Maurice Menager, also of Michael Saunders & Company, represented the buyer of a beautiful single-family home with bayviews from almost every room.  The residence sold for $1,500,000 on April 30, 2012.

 

 

 

Jenifer Schwell of Michael Saunders & Company represented the seller of a timeless waterfront residence in exclusive Bay Isles.  The home sold for $2,100,000 on April 30, 2012.  Coldwell Banker represented the buyer.

 

 

 

 

Jennifer Linehan and Jami Kellogg of Michael Saunders & Company represented both the buyer and the seller of a beautiful penthouse unit in Hudson Crossing.  The condominium sold for $1,375,000 on May 1, 2012.

 

 

 

 

Beth Afflebach and Joan Dickinson of Michael Saunders & Company represented the buyer and seller of a stylish and sophisticated unit at The Ritz-Carlton Tower Residence.  The spacious condominium sold for $1,800,000 on May 4, 2012.

Michael Saunders & Company is pleased to welcome Trish Chandler to the Lakewood Ranch office.

Originally from Knoxville, Tennessee, the Chandlers’ love of the Gulf Coast beaches brought them to the Bradenton area in 2006, where Trish specializes in residential properties throughout Manatee and Sarasota counties.

A real estate professional since 1989, Trish has been a consistent multi-million dollar producer who brings a proven track record of exceptional service. Prior to joining Michael Saunders & Company in 2006, Trish worked for RE/MAX, where she further enhanced her wealth of knowledge on the areas she serves.

 

Michael Saunders Hosts a Chinese Delegation of Investors from Beijing

Yesterday, Michael Saunders, hosted a market familiarization tour for the president of a Chinese investment firm from Beijing, along with their U.S. marketing representative from Washington. After breakfast at the Longboat Key club and lunch at the Ritz, the delegation moved on to tour properties throughout the area.

 

 

 

 

 

 

 

 

Sarasota Real Estate – A Rare Moment of Equilibrium

As more and more home buyers get off the fence while prices are still at their bottom, they’re experiencing escalating competition for the best-priced properties.  Thus with inventories at their lowest levels since the property boom of 2004-2006, our market has finally reached a rare moment of equilibrium in which it is also a good time to sell.

Last week’s Wall Street Journal chronicled on its front page how buyers from coast-to-coast are being caught off guard by bidding competitions brought on by serious supply shortages.  The title of the story says it all:  Stunned Home Buyers Find the Bidding Wars Are Back.

The article goes on to say that “the Wall Street Journal’s quarterly survey found that the inventory of homes listed for sale declined sharply in all 28 markets tracked.  Real estate agents consider a market in balance when there is a six-month supply of homes for sale.  At the height of the housing crisis, in 2008, there was an 11.1-month supply.  In March there was a 6.3 months supply.”

Here in Sarasota County the supply shortage is even more acute.  With buyers as active as they’ve been since 2005, our market has seen its inventory drop from a 28-month supply in 2008 to only a 5-month supply at the end of March 2012.  That number is expected to decline even further, as April sales continued to outpace new listings, even as they chipped away at our existing supply of properties.  In other words, with buyers hungry to buy, our market is becoming increasingly starved for new listings.

Amid this shortage of supply, and with home prices in Sarasota County trending as much as 30-40% below their boom-time highs, it’s not at all uncommon for new listings to receive multiple offers within days, perhaps sooner. This time around, however, the competitive bidding is not the product of rampant, un-informed speculation. Nor is it producing huge unrealistic spikes in prices.  Instead well-capitalized buyers are finding homes at 2012’s vastly reduced prices to be well worth competing for. (more…)

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