The Saunders Blog

The Neighborhood Report – Downtown Sarasota

Alinari - Downtown Sarasota Living

The condominiums gracing Sarasota’s downtown offer a carefree lifestyle among an assortment of exciting amenities. As area prices have decreased considerably, buyers from around the world are taking advantage of once-in-a-lifetime values in some of downtown’s most sought-after complexes, namely One Hundred Central, Plaza at Five Points, Condo on the Bay, The Ritz-Carlton Tower Residences, The Residences at The Ritz-Carlton, Kanaya and The Renaissance, among many others. Gary Loughlin, branch manager of Michael Saunders & Company’s Main Street office, reports a standout opportunity in residences in Alinari. This beautiful location has experienced dramatically reduced developer prices on units, some up to 40 percent lower than the beginning of 2009, resulting in a steady flood of homebuyers taking interest.

Success Stories from Main Street

Main Street agent Karen Wall is the site representative for Michael Saunders & Company at Alinari. In the last few months, Karen has been involved in ten closed sales and currently has several more under contract. One recent buyer found the opportunity so exceptional that they purchased two units.

Until the price modifications were put into effect, the sales in the building had been quite slow for an extended period of time. These adjustments have definitely created a very strong buyer interest, with many people who previously viewed the units returning to purchase.

Gary’s Bottom Line – Advice to Homebuyers

Do not try to time the bottom of the market!  Right now, there are many fine properties and very attractive prices. Buyers are finding extraordinary values and moving on them.

The Neighborhood Report – St. Armands Communities

St. Armands Circle

The casually elegant St. Armands Circle on Lido Key stands as the southern gateway to Longboat Key, and presents a superlative collection of boutiques, art galleries, restaurants and outdoor cafes. Encircling a well-manicured park and enveloped by a tropical Florida ambiance, St. Armands Circle provides a memorable experience for residents and visitors alike, who seek the charms of a world-class shopping and dining destination. For those who desire their own piece of this exclusive location, the agents our longstanding St. Armands real estate office are area experts who specialize in matching people with the perfect properties.

Areas of Interest

Barbara Roberts, Managing Broker of our St. Armands office, has noticed a heightened buyer interest in available properties located on the southern end of Longboat Key and throughout Lido Key. These residential opportunities vary from elegant beachfront penthouses to modest single-family homes, so the choices are sure to please any taste. Agents working out of our John Ringling office are greeting more and more people who stop by to inquire about what “great buys” are around for them. We are also seeing more buyers who are planning to retire within the next several years and want to know how the market is faring. (more…)

The Neighborhood Report – South County Communities

Well-Manicured Courses Attract Golfers to Rotonda

The real estate market in southern Sarasota County and beyond to Charlotte County is very active, with two main driving factors: waterfront options and reasonable prices. The many available properties fronting waterways, canals and the Gulf of Mexico are cherished by those who enjoy fishing, boating, kayaking or even sunbathing along the miles of beautiful sandy beaches.

Areas of Interest

Home buyers looking for waterfront opportunities have an abundance of properties to choose from throughout Englewood, Punta Gorda and Port Charlotte. Here, we have it all for a fisherman’s dream or a boater’s delight, all surrounded by scenic enchantment. In the Stillwater and Rotonda communities, there has been a notable increase in sales activity. Both communities offer newer construction and offer a variety of housing types. The golf courses of Rotonda provide challenging, well-manicured playing grounds for enthusiasts of the game. (more…)

The Neighborhood Report – Siesta Key Communities

Summer Cove on Siesta Key

The community of Sarasota Beach stretches from the Gulf of Mexico to the Grand Canal and includes the world renowned Siesta Key Village. Its meandering boating canals and proximity to Siesta’s beautiful beaches, world-class shopping and fine restaurants have made the community’s single-family homes, multi-family properties and carefree condominiums highly sought after for those in search of a convenient island lifestyle. Current list prices throughout Sarasota Beach range from $215,000 to $3.9 million. Presently, there are 34 active homes, 13 under contract (pending) and seven have sold in the past three months. Michael Saunders & Company was involved in four of the seven closings, which demonstrates our influence in the Siesta Key market. The hottest part of this market is found in properties priced under $500,000. At the time of this report, only six homes in Sarasota Beach are priced under $500,000, which means there is just a little over three months of inventory. (more…)

The Neighborhood Report – Lakewood Ranch Communities

Lakewood Ranch

With a convenient East County location, Lakewood Ranch is an attractive master-planned community perfect for an active lifestyle. Miles of well-manicured trails and sidewalks connect residents to each friendly neighborhood, and a host of challenging outdoor recreational activities—including polo, cricket, golf and tennis—provide year-round excitement for sports enthusiasts. Seven splendid villages—Edgewater, Greenbrook, Lakewood Ranch Country Club, Riverwalk, Summerfield, The Lake Club and Country Club East—offer a variety of residential choices and share a dramatic backdrop of pristine preserve, tranquil lakes and gorgeous landscaping.

Lakewood Ranch Residential Statistics

Our Lakewood Ranch office is the company’s first brand-new building custom designed to greet homebuyers and sellers with comprehensive real estate resources. Branch manager Gloria Weed and her team keep their fingers on the pulse of Lakewood Ranch’s residential opportunities to ensure their clients receive the information essential to making wise real estate decisions. As of August 3, Gloria reports that there are only 244 single-family homes actively listed for sale in all of Lakewood Ranch, which constitutes a 6.5-month supply when figuring the 96 homes under contract. As far as pricing, there are only 16 single-family homes for sale under $200,000, and 38 between $200,000 and $300,000. (more…)

The Neighborhood Report – Palmer Ranch

Palmer Ranch Office

Though a fairly new development of less than 20 years, Palmer Ranch offers a variety of real estate options within its approximately 80,000 acres. The area is renowned for its great family neighborhoods, new home communities, and maintenance-free villas and condominiums, all of which offer an assortment of amenities for the active household and are within proximity to beautiful Gulf of Mexico beaches. Additionally, the Legacy Trail, the area’s new 12-mile walking and biking trail, and the YMCA complex, which hosts activities for every age, both present a wealth of recreational opportunities for any sporting enthusiast.

How is the Palmer Ranch Market?

Darla Furst, branch manager of Michael Saunders & Company’s Palmer Ranch office, is pleased to report a genuine “up tick” in real estate transactions for the second quarter of 2009. Within this time, the Palmer Ranch Area has experienced an active inventory of 518 in March to 455 in June, which is a 14 percent decline in available houses. The absorption rate, or months of inventory available, based on closed sales has gone from 17 months in March to 9 months in June; that’s an incredible decline of 44 percent in one quarter. (more…)

The Neighborhood Report – Longboat Key

South Longboat Key Office

Longboat Key is a vibrant, picturesque island with 11 miles of exceptional beaches, beautiful neighborhoods, fine dining and world-class shopping. Boasting a casually elegant atmosphere, Longboat Key welcomes visitors from all over the world—many of whom fall in love with this desirable location on Florida’s southwest coast.

Michael Saunders & Company maintains three offices on Longboat Key that are strategically positioned to serve as a gateway to the exceptional properties of “the Key” and beyond. With a variety of condominiums and single-family homes, both on the beach and off, living on Longboat Key provides convenient access to St. Armands Key, Lido Key, Bird Key, downtown and beyond. Our knowledgeable agents assist visitors in buying and selling fine waterfront, island and mainland properties throughout this sought-after area.

How is the Longboat Key Market?

Longboat Key South Branch Manager Georgina Clamage finds the Longboat Key market to be strengthening with inventory down 13 percent from its highest point of this year. Pending sales for the second quarter in 2009 are up more than 38 percent, compared to the same quarter in 2006, and even higher when compared to the same quarter in 2007 and 2008. The average price of properties sold on Longboat Key during the quarter ending in June 2009 is $693,000. These sales represent both condominiums and single-family homes, and range in price from $125,000 to $3,330,000. (more…)

The Neighborhood Report – Bradenton

MS&C Bradenton Office

From the shore of Anna Maria Island and stretching eastward along the Manatee River, the Bradenton-Manatee area is a remarkable place highlighted by a host of art and historical attractions, as well as a coastline of sun-drenched beaches. From adorable Florida fishing cottages and stately southern houses to luxury condominiums, modest mid-century homes and island bungalows, this Gulf Coast destination boasts a great sampling of residential lifestyle options. As proven area experts, the agents of our Bradenton office specialize in helping homebuyers and sellers throughout the communities of Bradenton, Palmetto, Anna Maria Island, Parrish, Terra Ceia and Lakewood Ranch.

How’s the market in Bradenton?

Bradenton office branch manager Pam Ali has witnessed a very active market in her area. Additionally, our Bradenton agents have recently seen a significant increase in the number of buyers and sellers making inquiries via the Michael Saunders & Company website, michaelsaunders.com. Many of these are from out-of-town potential buyers who found our piece of paradise online. Within the last 14 days, the Bradenton office has received 20 pending transactions, which indicates a healthy amount of interest in Bradenton real estate. (more…)

The Neighborhood Report – Main Street

MS&C Main Street Office

Sarasota’s downtown is a vibrant destination brimming with a wealth of fine restaurants, specialty shops and splendid cultural attractions. With lifestyle options varying from soaring penthouse residences to quaint cottage-style homes, the downtown area boasts the perfect opportunities for anyone seeking the vivacious pace of city life. Centrally located at 1801 Main Street, Michael Saunders & Company’s downtown office is perfectly sited to allow our Realtors the convenience to serve property buyers and sellers throughout Longboat Key, Lido Key, Bird Key, Siesta Key and anywhere in Sarasota quite easily. 

How is the Downtown Sarasota Market?

Gary Loughlin, branch manager of the Main Street office, finds the market to be improving in general with property pricing being the most important consideration for both buyers and sellers. As of July 17, the downtown Michael Saunders office has over 40 pending transactions, a number that already exceeds the total of July 2008. This month’s closings span the pricing spectrum and involve properties that have spent a variety of time on the market. Of course, some are very quick closings and others have been in the works for quite a while. (more…)

Market Maintains its Momentum as Southwest Florida Slows for the Summer

SARASOTA, Florida—(June, 2009)—“Its very heartening to see that the sales momentum that built so impressively during the first four months of 2009 continued to be strong even as we transitioned from the busy winter season into our customarily slow summer months,” said Michael Saunders upon examining the latest sales statistics for May, just out from TRENDGRAPHIX.. “With bottoming prices, low interest rates and extraordinary, limited-time-only buying incentives—like the First Time Homebuyers Tax Credit—buyers are expressing their confidence in the market by stepping up to buy wherever they detect the best buying opportunities.”

“Sales continue to be disproportionately clustered in the under-$300,000 price range, thanks to prices that have been impacted by foreclosures and short sales; but sales are also occurring in every price range where sellers wisely list their homes in very close proximity to what comparable homes are actually selling for,” Saunders added. “The most encouraging news from this new data is that closed sales, although down slightly in most cases for May in Sarasota, Manatee and Charlotte Counties—as would be expected as we enter the slow summer months—largely held their own compared with April; while pending sales are way up compared with last May. Further, with most of these pending sales set to close in the next 30 to 60 days, it looks like the trend toward improved sales, established early this year, will continue throughout the summer.” (more…)