Archive for the ‘Sarasota Herald Tribune Op-Ed’ Category
Posted by Michael Saunders on February 1, 2012
Harbor Acres: 1204 Hillview Dr. Sarasota, FL
A first-time visitor to the “West of Trail” neighborhoods of Harbor Acres and Cherokee Park will be immediately impressed by two things.
First, these are obviously exceptional neighborhoods; filled as they are with immaculately-maintained and manicured waterfront estates of every size, shape and architectural style. Though each home makes its own individual statement, most have in common beautifully landscaped streets, magnificent water and city views, backyards that lead to private boat docks; and close proximity to downtown Sarasota—with all its cultural and culinary attractions. Even the homes that don’t directly face Sarasota Bay (or a boat-able inlet) boast the beauty of their vintage neighborhoods, closeness to the restaurant and retail pleasures of the Hillview District; and the walk-able lifestyle of one of Florida’s most walk-able cities.
Secondly, the flurry of new construction and renovations taking place in these classic neighborhoods not only makes it clear that the upper end of our market is finally in the beginnings of a sustained recovery, but also telegraphs that these classic, close-to-downtown enclaves will always be home to some of Sarasota’s most sought-after real estate.
This wasn’t always the case. In its pre-development days, Cherokee Park was thought too far removed from downtown Sarasota to invite serious buyer attention; and Harbor Acres was considered an uninhabitable jungle tract better suited to mosquitoes than people. (more…)
Posted by Michael Saunders on January 26, 2012
A few weeks ago, this column revisited a subject we’ve touched on before: From a comparative point of view—and despite all its recent, well-publicized woes—real estate is still one of the most productive long-term investments a person can make.
As we have in the past we included a graph—courtesy of real estate expert Steve Harney—comparing returns on investment for real estate versus the Dow, S&P and NASDAQ. The updated graph—which covers the twelve years beginning January 2000—shows that had you invested $100 in each early that year, by now you would have netted $140 in real estate, $112 on the Dow, $90 on the S&P and $70 on NASDAQ (Source: MSNMoney.com, Case Shiller—updated 01/01/12). Plus, you have the incalculable benefit of owning a home to be lived in and enjoyed for the duration.
Since then, we’ve heard a chorus of voices from the mainstream media chime-in on the same theme. This past weekend, the Sarasota Herald-Tribune became just the latest to suggest that now may well be the time to buy Sarasota real estate. In his Sunday column, real estate reporter Harold Bubil quoted Ted Jones—chief economist of Stewart Title—as saying that real estate has been a much better income-producing asset than stocks over the past decade. Jones, who holds a Ph.D in economics, explained to an audience at the Sarasota Association of REALTORS® why real estate is not just a good investment, but a great one. “Overweight your investment in real estate,” he advised them. “It is cheap and on sale.” (more…)
Posted by Michael Saunders on January 19, 2012
La Bellasara - 464 Golden Gate Pt. #Ph9c
Fans of movie musicals—plus anyone of a certain age—will recall the images of Fred Astaire and Ginger Rogers swirling in choreographed perfection through nearly a dozen feature films. To heighten the image of their characters’ worldly sophistication, the most famous dance team in cinematic history was often filmed gliding across sets depicting glamorous penthouses soaring high above the canyons of Manhattan. Mesmerized viewers were left with no doubt that these “castles in the sky” represented life at the top—in more ways than one.
Cinematic tastes have changed considerably, but penthouses still connote the epitome of urban elegance and privacy, high style; and the unmistakable sense that their owners have “arrived.”
Penthouses live very spaciously, their “footprints” often equaling two or three combined residences on the floors below. Common to all are breathtaking vistas, oversized terraces, floor-to-ceiling windows to frame their amazing views, extraordinary privacy and amenities; and turnkey convenience to always allow for instant arrivals and departures. In other words, penthouses are designed and built to enhance every unique feature of their enviable top-floor locations. (more…)
Posted by Michael Saunders on January 12, 2012
It’s that time of year again. The business media and its many pundits are issuing all sorts of recommendations for investments that are predicted to perform best in the New Year. You can barely watch TV or pick up the Wall Street Journal without seeing one.
Despite all its recent woes, real estate still enjoys the potential for being one of the best long-term investments you can make. That’s because the turmoil that rocked real estate markets over the past few years has largely subsided, leaving Southwest Florida home prices at their lowest level since the turn of the century. Now presumed to be at or near bottom, prices are expected to trend higher over the next several years; restoring real estate to the reliable long-term growth asset it has traditionally been. Plus with mortgage interest rates at unprecedented lows, the long-term cost of owning a second home, investment or retirement property has seldom been lower.
Each month, national real estate authority Steve Harney updates a graph comparing returns on investment for real estate versus the Dow, S&P and NASDAQ. His latest version (shown above) covers the dozen years between January 1, 2000 and January 1, 2012. Recent volatility in all these markets notwithstanding, had you invested $100 in each in early 2000, by now you would have netted $140 in real estate, $112 on the Dow, $90 on the S&P and $70 on NASDAQ (Source: MSNMoney.com, Case Shiller—updated 01/01/12).
Today’s real estate investors are a far cry from the frenzied, poorly-leveraged property flippers of a few years ago. They are well-capitalized, often pay in cash; and understand that to profit from real estate typically means hanging on to a well-maintained property for several years. Still, many investors begin recouping their costs immediately by leasing out their properties in today’s exceedingly strong rental market.
Beyond its investment potential, the purchase of a Southwest Florida home at today’s vastly lower prices will yield much more than a tangible parcel of real estate. You are also buying into one of America’s most outstanding cultural and recreational scenes, its top-rated beach, a superior choice of schools, universities and medical facilities; and many other first-rate amenities no other region in Florida can match. Plus, yours is an investment you can live in, retire to or vacation from—when you aren’t letting it pay for itself by leasing it out. (more…)
Posted by Michael Saunders on January 4, 2012
Last week, the Sarasota Herald-Tribune profiled the buyers of last year’s ten most expensive homes. In doing so, it praised them for not only investing their wealth and confidence in Southwest Florida; but also for bringing a wealth of career and life experience to our community. The article was also quick to point out that the two highest sales of the year—involving properties sold for $12.5 and $7.58 million—were purchased by buyers from England and Canada. Not mentioned was the fact that agents from Michael Saunders & Company controlled 11 “sides” of the 10 sales. Six of the properties were listed—and five found buyers—through agents with the company.
News of these sales is encouraging on several fronts. First, our market, though by no means recovered, is having less and less trouble finding buyers for high-end properties—provided they are priced aggressively. Secondly, educated buyers in all price ranges are drawing the same conclusion; namely there may never again be buying opportunities to compare with those in today’s largely undervalued market. Still, even with value high on every buyer’s “must-have” list, they also choose Southwest Florida for its array of cultural amenities, award-winning beaches and other superior lifestyle options. (more…)
Posted by Michael Saunders on December 29, 2011
T’was the week before Christmas and the headlines were jolly. In a single day last week, the Sarasota Herald-Tribune was a major chronicler of glad tidings for our market. Just as it prepares for its busiest season of the year, Southwest Florida’s real estate market posted sharp gains in both the number of homes sold during November and the median price they fetched, the paper announced from its front page.
“Census sees a new influx into Florida,” proclaimed a second headline on the front page. “Florida is growing again,” the accompanying article said. During the fifteen months between April 2010 and July 2011, 119,000 people moved to Florida from other U.S. states; a number surpassed only by Texas.
Not to be outdone, the front page of the newspaper’s business section announced that the U.S. economy will enter 2012 “on a roll,” with its job market in recovery, manufacturing and retail spending up, gas prices down, and the stock market posting impressive year-end gains. (more…)
Posted by Michael Saunders on December 22, 2011
Nothing raises our spirits more than seeing the last soldiers depart Iraq in time for the holidays. The recurring image of tearful families being re-united with their loved ones underscores the magnitude of sacrifices each has made throughout the nine-year conflict. To every soldier—and to his or her loved ones—we offer our solemn and heartfelt thanks and best wishes for your holiday reunion.
Regrettably, our returning heroes’ next big challenge will be to re-establish their footing in the midst of a tenacious recession noteworthy for persistent unemployment and growing human need. Amid deep corporate and government cuts in funding for community outreach, it now falls to charitable organizations to underwrite many of the programs that help rescue the less fortunate among us—including children, veterans and the homeless.
Helping bridge the funding gap is one of the primary reasons behind the MSC Foundation, a 501(c)(3) not-for-profit organization that was launched this past spring. In spite of equally tough times for the real estate industry, many of our 550-plus agents have joined together to expand on their long-standing tradition of giving back to their communities. (more…)
Posted by Michael Saunders on December 15, 2011
If you’ve walked down Main Street, around St. Armands Circle or through any other major retail zone in Southwest Florida you’ve probably noticed far fewer vacant store fronts. Not to mention many new stores, restaurants and boutiques that weren’t there this time last year—or even six months ago. That’s because just as our local economy appears to be shedding its doldrums, commercial sales and leasing rates are holding at their lowest levels since before the real estate boom. Consequently, forward-thinking businesses are seizing on today’s best buying and leasing opportunities as a guaranteed way to keep a lid on their operating costs.
Commercial markets from coast to coast have had precious little to be cheerful about over the past few years. Our market is no exception, as sales remained relatively flat throughout 2011. Still, as the year winds down, we are starting to notice a slight—but encouraging—sea change in the economic fundamentals that drive the commercial real estate market. (more…)
Posted by Michael Saunders on December 8, 2011
With cultural venues dotting the landscape in numbers far disproportionate to our population, it’s no wonder Southwest Florida’s enjoys a worldwide reputation for being “Florida’s Cultural Coast ®.”
But it could just as easily be dubbed “Florida’s Recreational Coast.” For in addition to the outsized array of outdoor activities that typically lure newcomers to the region—including golf, tennis and all manner of water-related sports—Southwest Florida is home to several unique venues that attract the most iconic names in amateur, professional and Olympic Athletics.
IMG Academies is a prime example. Located in Bradenton, IMG Academies is the world’s foremost training academy for excellence in such sports as tennis, golf, soccer, baseball, basketball, football, lacrosse—and yes, in academics as well. Chances are your favorite sports hero has trained here at one time or another. In fact, IMG’s Bollittieri Tennis Academy regularly churns-out many of the sport’s most successful players. But you needn’t be a superstar to train like one. IMG Academies offers year-round, weekend and summer programs for non-professional athletes who simply want to up their games. (more…)
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Posted by Michael Saunders on December 1, 2011
As 2011 winds down, there’s little new to report about our region’s housing market that hasn’t already received widespread attention in both the mainstream and social media. That attention has largely been positive; focused as it should be on the desirability of our market and the deeply-reduced cost of owning a piece of it.
Therefore today’s column is a snapshot of how the Sarasota-Manatee market is faring as we look forward to another year of solid recovery in 2012:
- Our market’s turnaround in pricing is generating headlines that have captured the favorable attention of serious buyers and investors the world over.
- In one of the best performances by any market in the Sunshine State, year-over-year unit sales in the Sarasota-Manatee market rose by 20% during October. Florida itself experienced a year-over-year unit increase of 13%. These performances are even more impressive when measured against the modest 1.4% increase reported nationally by the National Association of REALTORS®. (more…)
