Archives October, 2013

Residential Real Estate Market Trend Report for Southwest Florida – August 2013

REGIONAL SNAPSHOT FOR AUGUST 2013

With the noteworthy exception of properties under $150,000 August sales of single-family homes throughout the Sarasota, Manatee and Charlotte Counties region were up significantly over last August. Year-over-year sales of condominiums in most price ranges were up significantly as well, according to the latest sales report for August issued by Trendgraphix.

“I was not at all surprised to see (August) sales of single-family homes under $150,000 throughout the region decline by a quarter over last year,” says Michael Saunders, founder & CEO of Michael Saunders & Company. “This price range is not only the most popular and affordable for young families and first time home buyers but also with investors large and small. Investors helped jump-start our market by buying properties in this price range at a brisk pace—mainly to help satisfy our market’s intensifying demand for rental properties. Thus, the drop in sales in this price range has less to do with any softening in consumer demand than with the steep reduction in inventory over the past two years that is limiting selections and delaying purchases. The dearth of inventory has also helped jump-start the region’s market for new homes and condominiums; as buyers have few other options until more existing homes come on the market—which I predict will occur with greater frequency as property values rise.”

As of August the supply of properties in the price ranges under $500k is down substantially from the 6-month supply considered healthy in a balanced market. Conversely price ranges above $500k have anywhere from a normal to an overstocked supply, especially for properties over $1 million. Investors in these price ranges are exerting minimal impact on inventories, thus it is taking longer for normal end-user demand to exhaust the levels of supply that have built up over the past few years.

To continue reading the Market Trend report for August, please click on the image below:

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Pumpkin Party: Hunsader Farms Festival Kicks Off This Weekend

Photo courtesy of Hunsader Farms

Photo courtesy of Hunsader Farms

If you’ve been craving some homemade pumpkin pie, you’re in luck – the 22nd annual Pumpkin Festival at Hunsader Farms in Bradenton starts this weekend, October 12-13.

Each fall the event attracts thousands of visitors, with 100 craft booths, food vendors, live country music, hay rides and of course an abundance of the festival’s big orange star, the pumpkin.The festival runs October 12-13, 19-20 and ends with a kids costume contest on Halloween weekend, October 26-27. (more…)

Saunders Luxury Sales Report for September 28, 2013

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 September 28, 2013 the properties below sold for over $1 million.

 

Property Address:  680 Neptune Avenue

Sale Price:  $1,437,500

Sale Date:  9.10.13

Listing Agent(s):  Barbara Najmy and Walter Hackett, Michael Saunders & Company

Selling Agent(s):  Terri Derr, Michael Saunders & Company

 

945 Casey Key Rd - A3982420_21Property Address:  945 Casey Key Road

Sale Price:  $2,450,000

Sale Date:  9.12.13

Listing Agent(s):  Deborah Beacham, Michael Saunders & Company

Selling Agent(s):  Re/Max

 

0 S Shore Dr - A3972665_12Property Address:  0 S Shore Drive

Sale Price:  $1,400,000

Sale Date:  9.16.13

Listing Agent(s):  Klaus Lang and Nora Johnson, Michael Saunders & Company

Selling Agent(s):  Legacy Property Services

 

392 Cezanne Dr A3972974_01Property Address:  392 Cezanne Drive

Sale Price:  $1,153,250

Sale Date:  9.16.13

Listing Agent(s):  Harvey & Ethel Lovelace, Michael Saunders & Company

Selling Agent(s):  Re/Max

 

P1736 Bay St A3981719_01roperty Address:  1736 Bay Street

Sale Price:  $1,200,000

Sale Date:  9.17.13

Listing Agent(s):  Kim and Michael Ogilvie, Michael Saunders & Company

Selling Agent(s):  Kim and Michael Ogilvie, Michael Saunders & Company

 

102 Carrick Bend LnProperty Address:  102 Carrick Bend Lane

Sale Price:  $1,396,000

Sale Date:  9.17.13

Listing Agent(s):  Carol Stewart, Michael Saunders & Company

Selling Agent(s):  Carol Stewart, Michael Saunders & Company

 

1382 Harbor Dr A3974757_01Property Address:  1382 Harbor Drive

Sale Price:  $1,700,000

Sale Date:  9.17.13

Listing Agent(s):  Susan Mitchell, Michael Saunders & Company

Selling Agent(s):  Murray Realty

 

1281 GOMD_53Property Address:  1281 Gulf of Mexico Drive, #605

Sale Price:  $1,530,000

Sale Date:  9.20.13

Listing Agent(s):  Developers Realty

Selling Agent(s):  Denise and Nicole Mei, Michael Saunders & Company

 

1141 11th St W_2Property Address:  1141 11 Street, #W

Sale Price:  $1,575,000

Sale Date:  9.20.13

Listing Agent(s):  Gasparilla Properties

Selling Agent(s):  Carol Stewart, Michael Saunders & Company

 

1423 S Lake Shore Dr - A3982522_30Property Address:  1423 S. Lake Shore Drive

Sale Price:  $1,740,000

Sale Date:  9.27.13

Listing Agent(s):  Lenore Treiman, Michael Saunders & Company

Selling Agent(s):  Paterson Properties

 

13207 Palmers Creek Ter - A3970128_57Property Address:  13207 Palmers Creek Terrace

Sale Price:  $1,775,000

Sale Date:  9.27.13

Listing Agent(s):  Lenore Treiman, Michael Saunders & Company

Selling Agent(s):  Sylvia Zimmerman, Michael Saunders & Company

The 5th Annual Ringling International Arts Festival Comes to Sarasota

Spain’s Rocío Molina will be performing at this year's Ringling Inernational Arts Festival. Photo courtesy ringling.org

Spain’s Rocío Molina will be performing at this year’s Ringling Inernational Arts Festival. Photo courtesy ringling.org

Consider me culturally spoiled. I live in Sarasota (Florida’s cultural capital) where I could see dozens of visual or performing arts experiences any day of the week. Then, in addition to this daily assortment of artistic opportunities, Wednesday, October 9th is the beginning of a festival featuring renowned international artists and they might as well get up and start performing in my living room!

The 5th Annual Ringling International Arts Festival will soon be getting underway at The Ringling.  This highly-attended festival is only four days long and celebrates the brilliant diversity of nations and culture with a hand-picked selection of artists from around the world.

Spanish flamenco artist Rocio Molina will kick off the festival in the Mertz Theatre. Called “one of the most brilliant bailaoros of our time”, she’ll be dazzling audiences with three performances in all. (more…)

An International Perspective

LondonNot that they ever came close to being a total panacea for all the issues that beset the U.S. housing market during the Great Recession, but international home buyers brought a positive overseas perspective that definitely helped ignite the recovery in local markets such as ours.

While domestic buyers were frozen in place by the uncertain effects of the economic slump, buyers from other countries were confidently investing in an economy which—for all its recessionary woes—is still regarded from afar as the most stable and resilient in the world.  True, they also braved a U.S. housing market with sharply declining home values, but with a proven history of bouncing back strongly after every rough patch in its cycle.

In possession of this balanced perspective, more international buyers than ever seized on the opportunity to invest in U.S. housing—both to take advantage of our reduced prices while often striving to protect their financial assets from the vicissitudes of their own troubled economies.  Unlike an ounce of gold or a stock certificate, whose values are similarly prone to cycles, here was a long-term investment that could be lived in and enjoyed; or profited from as a seasonal or annual rental. (more…)

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You Haven’t Lived in Sarasota until You’ve Crossed this Bridge

There are probably a dozen experiences one must undergo in Sarasota before you can truly consider yourself a local. Some of the items on my all-important list include: – Attend a show at one of our award-winning community theatres. – Go to the Sarasota Farmers Market (but know in advance what you are purchasing). – Avoid the beach because, well, everyone else is there. Still, there is one spectacular (and free) rite of passage that rests at the very top of my SRQ initiations: – Go for a walk across the Ringling Causeway Bridge! RinglingBridge_14 (more…)

Go Forward In Time


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