Sarasota Real Estate Happenings

I took this picture of Lido Beach sunset on Wednesday, June 7...plenty of people out...and nice clean water and sand!!!

 Sarasota's, and all of Southwest Florida's, beaches continue to remain clear of oil and tar balls.  As we watch the Deepwater Horizon well spew its disastrous mess across the Gulf of Mexico; our pristine sands, estuaries, sounds, and wildlife go unaffected.  Our luck is bittersweet, as we know the unprecedented damage that is being done to the fragile ecosystems in Louisiana, Mississippi, and Texas.

Sarasota Real Estate continues with a steady rate of sales, as our inventory drops.  This is particularly true in the case of new construction.  As such, we are seeing an increase in investor, developer, and builder purchases of vacant land and discounted homes in areas such as:  "West of the Trail", Siesta Key, Lido Key, Longboat Key, Casey Key and other waterfront opportunities.

Sarasota, Florida remains a viable real estate investment with a solid long-term growth forecast.   Just this year, Sarasota has been named a Top Place to Retire (CNBC), the #1 Best Buy in Real Estate (Today Show) for the U.S., and most recently, the #1 Best Buy for Real Estate in the entire Western Hemisphere of the World (International Property Journal).  Sarasota has an exceptionally low probability of an oil impact in our region and this will likely have the affect of area home values increasing.  This is due to the fact that several other Gulf states, and cities in North Florida and the East Coast will see a decline in sales as home buyers and investors seek areas that are unaffected by the oil spill.  These combined factors will continue to drive sales in Sarasota, decrease inventory, and push our market back into a seller's marketplace.

According to a recent article in the International Property Journal, the wonderful coastal community of Sarasota, Florida is the best buy for vacation and second-home real estate in the entire western world.  In consideration of this new ranking, we expect to see an influx of European buyers in our area.  As this occurs, we will see a continued decline in inventory and sales prices will likely increase over the next two years.  Even in consideration of the oil spill threat, it is well-known through all of the various computer models, that Sarasota, Florida is one of the least likely areas of Florida to be affected.  The east coast of Florida would likely be affected before our area is.  As such, this adds even more value to Sarasota real estate over the long-term.

Many experts have agreed, time and time again, that Sarasota, Florida continues to be an area of great investment opportunity.  The long-term projected increases in property values are positive and substantial.  I would implore anyone who is not familiar with our area to come and take a visit for yourself.  I might even be able to get you a discount with our affiliated vacation property management company!

I decided to write this blog post in an effort to provide its readers with some solid, "boots-on-the-ground", information concerning where oil is, and is not, in the Gulf states.  I will begin by telling everyone that it is unequivocally NOT IN SARASOTA or Longboat Key, Anna Maria Island, or anywhere else in Central or Southwest Florida. 

The national news media simply states that there is oil in "Florida".  This is a generic term...we are a reasonably large state and I feel that it is irresponsible reporting that continues to hurt the great people of our state.  I wish that I did not even have to blog about this, but this is our reality.  Some northern areas of the Florida Panhandle have been affected, as has Louisiana and Alabama - I am deeply saddened by this and empathize with anyone who is having to live with this tragedy on their shores.  However, I find it of utmost importance to inform the uninformed.  My purpose?  To keep people visiting and relocating to our beautiful state!  I implore everyone out there who can blog to do the same.  If you have visited recently...tell your friends how beautiful it is here.  THIS IS A RECENT PICTURE OF SIESTA BEACH

There are no current computer models that put this thing on the southwestern gulf shores of Florida.  Can it happen?  Yes, but it is not likely.  I will not get into all of the negative things that I have to say about this whole mess, but we are hopeful that this will end soon so that we may limit the damage that is being caused to the Gulf's ecosystem.  I will keep everyone posted periodically on our area and call out to everyone who reads this and lives in Florida to do the same.

Southwest Florida, and all of Florida, is still a great place to live, rasie your family, and enjoy the waters.  Stay posted for more pics and updates!

Sarasota property sales hit their highest levels since 2005!  May sales were at 766, the highest number of sales for the year.  This number represents a 51.3% increase over May of 2009 and was the highest number of sales in any month since December of 2005.  It truly is incredible to think that our area is doing so fantastically well! No surprises though, given the fact that Sarasota is one of the most sought after and beautiful places to live in the country!  According to SAR (Sarasota Association of Realtors) President Erick Shumway, “The May 2010 statistics continued to show that the Sarasota real estate market is continuing a steady recovery”.

The home sale numbers for single family homes was 539, and condo sales were at 227.  In May of 2009, single family home sales were at 375, while condos were at 131.  Albeit these numbers may seem impressive to those who do not live here, we Sarasotan’s have every day to understand why. Sarasota, Siesta Key, Venice and her Islands, Longboat Key and Lido Key are the reasons why.  Nowhere else do you find such beauty, culture, and such a great opportunity to live in one of the most pristine and prestigious areas of our country.  The white powder, quartz sands of Siesta Key continue to rate as the top in the country and you will need to walk in it only once to understand why.

As far as what is selling…about 40% of our sales last month were distressed properties.  This is down from late 2009, where it stood at about 48%.  What does this tell us? That our market is getting back to where it should be.  Add to this the fact that inventory dropped to 7.2 months and we are well on the road to recovery.  Consider this: Inventory for single family homes was right around the 6,094 mark in May 2010 – the lowest level since the summer of 2005!  In May of 2009, this number was 14.3 months!  Inventory has been cut in half! What about condos you say?  How about this: 9.7 months of inventory!  Crazy, I know…it was at an astronomical 19 months in just May of last year!  I have said this before and I will say it again…we are nearing equilibrium in our market.  If you are a seller reading this (and in Sarasota), this is good news for you.  If you are a buyer…you better get off that fence because the door is closing.  Have you ever had those moments in your life where you have said to yourself, “If I had only just…” Don’t let it happen again.  The opportunity is happening now.

Agents…our hard work is paying off and we are getting people into, and out of, their homes like no other time in most of our histories.  Feels pretty good doesn’t it?  If you are wondering about the Gulf oil…it isn’t here and is not projected to be in our area…ever.  I will post on that Charlie Foxtrot (military terminology that I will let you try to figure out…ok, here’s a hint: “Charlie” is “Cluster”) in a subsequent blog.

Ciao to all!

First and foremost, I wish everyone a very safe and enjoyable Memorial Day weekend!  I would also like to just say thank you so much to all of those who have sacrificed so much for our independence and freedom as a nation.  In our ever-changing and increasingly globally dependent political environment, we still find ourselves as the most powerful and great nation the world has ever seen.  This position was not accomplished through appeasement, but through the hard work, ingenuity, and sacrifices of the American people and our great Soldiers, Marines, Seaman, and Airman. 

Right now, as I write this blog post, there is a soldier overseas who may be fighting for their very survival.  There is a soldier saving a life, perhaps even an enemy combatants life.  There is a soldier who has looked down after waking up from surgery to find that they no longer have their legs.  This is happening right now.  These brave men and women stand strong and deserve our utmost respect and admiration. So, as we enjoy our weekend of barbeque's, pool parties, beach days, and boating - let us take a moment of silence to remember why we have our freedom and why it is so vitally important that we remain vigilant to the changes occurring in our world.  Having been all over the world, I can honestly say that this is the only place that I would ever want to live.  I am so grateful for my country and am grateful to have had the opportunity to serve in the Armed Forces myself. 

Here in Sarasota, we have a statue on our bay front called "Unconditional Surrender".  It commemorates the end of World War II and is a 45 foot statement of the greatness of our country.  Believe it or not, there were many who have tried to fight to get this statue out of Sarasota.  Fortunately, it looks like the patriotic citizens of Sarasota have put enough pressure on the city commissioners to keep it here.  If not for the generosity of city resident, and WWII veteran, Jack Curran and so many other patriots, the statue may have been lost. Mr. Curran has purchased the statue for $500,000 and donated it to the City of Sarasota. 

I would implore anuyone who visits, or is considering relocating to Sarasota, to visit this beautiful and patriotic reminder of days past...and of sacrifices made.

Thank you all and Happy Memorial Day!  Ricardo "Ric" Ruiz del Vizo, Veteran and Patriot

Would you believe that you could live in a gated, maintenance free, brand new, gated beach community on Siesta Key for under $275 a foot?  Coronas Park, located on the much sought-after Siesta Key, is a small gated community of 13 single family homes and lots available immediately.  The model (see slide show) boasts 4 bedrooms, 4 and one-half bathrooms, a 4 car garage, elevator, pool, spa and much, much more.  The home is constructed to higher than required standards, with solid concrete slab construction between every floor. The flooring finishes include solid wood, tile, marble, and carpeting.  Granite counter tops, tray ceilings and crown molding are standard throughout.  This home is light bright, and airy - with partial views of the Intercoastal Waterway and Gulf of Mexico from your third floor.  Located walking distance from the vibrant and active Siesta Key Village and nearly directly across from a small public beach access.  Imagine walking down to the Village, having some breakfast at one of the local restaurants, then strolling down the beach on your way back home as the sun rises and the waves lap upon the shore.  A warm, humid Florida breeze brushes across your face and you know that you are in...paradise.

This model home is being offered with a generous leaseback from the owner developer while other homes are being constructed.  If you are in the area, feel free to stop by and visit one of our friendly sales staff or call Ric Del Vizo 941-928-0737 to arrange a showing.  The model is open daily to visitors, however, hours can vary.  You can also find this home on the Multiple Listing Service under MLS#A3920379. Enjoy condo style living, with the freedom and space of a single family home - at a fraction of the cost.

                                                                                        Coronas Park is a brand new walled and gated, maintenance free community of single family homes currently under development on magnificent Siesta Key. Just a short stroll from the fun, carefree Siesta Village and famed Siesta Beach. Coronas Park boasts elegant, well proportioned homes with a British Colonial style perfect for the tropical setting. These residences have been designed with features and quality that reflect this extraordinary location and the passion of the architect/designer for finest materials and elegant design. Watch the sunsets from you third floor Master Suite with glimpses of the Gulf of Mexico!  This beach community reflects the "New Urbanism" that provides owners with community, privacy and security.  Unbelievable value at this per square foot, for brand new construction on Siesta Key... you simply can not find a better opportunity.

There are 13 individual parcels that combine into a private, gated, maintenance free community with a coastal architectural theme. Coronas Park offers extraordinary and exclusive coastal style retreats. Each home is unique in design while capturing the true essence of Florida living. These homes feature only the finest materials and will reflect the passion of the astute buyer that can see the true value this neighborhood has to offer in both quality and location.  

The Owner/Developer is offering a very generous leaseback on this first model home.  Model has the addtional options of an elevator, pool, and jacuzzi.  At under $275 psf for brand new concrete construction (concrete slabs between each floor as well)..this is truly an amazing bargain on Siesta Key.  You have to see it to believe it!  On-Site Agent available daily. 

Offered by Coffey & Company Realty, A Licensed Real Estate Brokerage located in Sarasota, Florida  MLS#A3920379

OK, you already have (or had) a real job!  That being said, the new Southside Village Barbershop is sure to become a local man spot for years to come!  To look at it, you would think that it has just always been there...it just, well...belongs.  Located in the popular Southside Village of Sarasota,this Barbershop is clean, well-appointed, has a great LCD TV for our viewing pleasure, and is a classic, "old school" barbershop.  Debbie can set you up to get a real hot towel, straight razor shave, or cut your hair like she were Edward Scissorhands.  Tom is happy to accommodate you as well, and their talent in the art of the cut is unparalelled.  It's funny actually...a quick story here...I went to a friends house that I hadn't seen in some time and one of the first things he noticed was my new haircut.  It was actually a bit strange, but he said that it was the best haircut he had ever seen on me.  He was truly impressed and I was actually very surprised.  I don't usually get statements about my haircut, you see.  So, if your visiting or just in the area, stop by the Southside Village Barbershop at 1816 Hillview Street, across from the Southside Deli and relax, get a haircut, catch up on your sports, step back in time for a moment...and enjoy.  You can also visit their website at www.southside-village-barbershop.com. 

Please try to imagine that Robin Williams is screaming that title over the airwaves...it just sounds better than when I try to do it!  It is a great morning here in Sarasota, Florida and Southwest Florida in general.  After a crazy day of rain and wind yesterday, we couldn't ask for a more beautiful, sunny day.  We certainly are fortunate to live in such a paradise!  With our great weather, fantastic homes, superior culture, beaches, and waterways; it is no surprise that Sarasota sales were up 49% in February 2010 from the same month in 2009.  Pending sales were standing at the highest level in four years at a whopping 967!  Nearly half of all of these sales were distressed properties, which is a strong indicator that investors and first-time homebuyers are very active right now picking up the pieces of the down housing market.  With single family home inventory levels at about 10 months, time is running out!  For those of us in the real estate profession, we know that the 6 month mark in our inventory is the coveted "equilibrium", meaning the buyer's market will be coming to a close over the next year or so here in Sarasota.  Why are things doing so well here as opposed to other markets around the U.S.?  Simple really - Sarasota is a fantastic location with world-renowned beaches, excellent schools, superior culture, great homes and great prices.  Buyer's looking to relocate or invest know that this Florida coastal community is Number 1 to many and there is going to be no better opportunity to buy here than now!

How many times have we sung that song in our heads, right?  I can tell you one thing is for sure...I have certainly been singing it when I think about having to get on here and blog regularly!  Life is so busy that it sometimes seems impossible to get it done.  Is anyone else out there feeling this way?  Here in Sarasota, we're busy!  After working 12, 14...18 hours, I'm ready to have a glass (or two) of wine and hit the sack!  Woe is me!  You know what though?  We can't do it!  It is imperative to our business that we must not only blog...but we must blog intelligently and CONSISTENTLY to be effective.  I know...it just sucks sometimes.  There is no lack of a better word in that previous statement either.  However, my friends...we must do it.  Consistency is one of the variables that the all powerful Google algorithms demand (along with originality, content relevant keywords, proper keyword ratios....on and on).  It ain't easy (Johnny Paycheck's voice), but it must be done.  Let's educate ourselves, remain on top of the ever changing world of blogging, social networking, and website SEO in order to ensure our continued success...unless, of course, you are a Realtor in the Sarasota area.  In which case, I would prefer that you just stay as oblivious to these changes as possible...hehehe.