In 2012, did you know Sarasota had the fourth highest sales year in history? Sales for the first two months of 2013 are already topping last year’s monthly levels by 23 percent! At this pace, the Sarasota real estate market could see yet another historic sales year.

So, in other words, …Absolutely forget what you have heard anywhere else in the world about the real estate market being slow. Not here, Not now.

Sometimes, (well…often times if the buyers are from outside of Florida), a new-to-the-market buyer has a very different perception of the Sarasota market conditions. They believe the sellers are “hurting to sell” and their initial strategy might sound something like this, “…whatever they are asking, take 30% off of it for my offer”.

SURVEY SAYS>>>>>>> X (Remember Family Feud?)

That is far from being accurate and a terrible strategy for many reasons. Without the right data, a lot of the buyer’s time could be wasted making offers that don’t even get considered or countered. Worse yet, many times there are multiple offers for the Seller to consider, so the buyer who “lowballs” may never even get a chance to make another offer. Also, some sellers are bargain priced already, so this strategy would epically fail for these bargain-priced properties. That would be a real shame.

Define “lowball offer”

I don’t define a lowball offer by the dollar amount the buyer wants to slash off the list price. I determine a lowball offer based on the amount the buyer wants to slash off the true market value.

Example) I had a past deal where I represented the Buyer and based on my recommendation, my Buyer offered $600,000 below the list price of a home. Now, even though I recommend a buyer does not lowball per se in a hot market, based on my thorough analysis, I still came to the conclusion my client should offer 600k less. The buyer was willing to offer more than I was recommending, but took my advice.

Now, the Seller and listing agent told us to basically “pound sand” based on my client’s offer. However, armed with the right data, I responded by asking the listing agent to tell me what the market time was for a home in that area in that price range. According to my figures which I presented to them, it was over 5 years. After reconsidering the offer with the appropriate data, they responded back within 24 hours that they would take the deal. The data we uncovered was our ally.  Even if the data was found not to be our ally, it is important to know what the true situation is, and respond accordingly.  Not all offers significantly below list price are lowball offers. It all depends on our in-depth market analysis.

Current February 2013 Sarasota Market Statistics

The Sarasota real estate market saw sales leap by 24 percent in February 2013, compared to February 2012. This follows January’s 22 percent increase, and if the rest of the year continues to reflect 20 percent monthly sales increases, 2013 could be one for the record books.

Members of the Sarasota Association of Realtors® sold 733 properties in February, compared to only 591 sales last February, and 626 closings last month. The breakdown was 504 single family homes and 229 condominiums. That compared to 414 single family homes and 177 condos sold in February 2012. In 2012, sales increased markedly in February, March and April, climbing to 886 closed transactions in April before moderating in the summer months.

Sarasota Pending Real Estate Sales

Pending sales, which predict future closings, were at 1,138 in February, up from January’s total of 1,047. The figure was the highest since March 2011, almost two years ago. The statistic represents properties that went under contract during the month, and indicates sales in March and beyond could also be at high levels.

Sarasota Available Housing Inventory

The available inventory remained near the lowest level in a decade, declining to 3,790 from the January 2013 total of 3,846 properties on the market. The figure is 17.4 percent lower than in February 2012.

The median sale prices for single family homes rose slightly in February to $184,500 from the January figure of $183,800. Last year at this time, the median was $167,500, reflecting a 10.2 percent increase this year. Condo median sale prices recovered to $173,000 in February 2013 after dropping markedly in January 2013 to $130,000. Last February the figure was $150,000, for a 15.3 percent year-to-year increase.

The February 2013 months of inventory were 5.0 months for single family and 5.6 months for condos, lower than the January 2013 figures of 5.4 months and 8.4 months, respectively. The February increase in sales in relation to the smaller inventory resulted in the lower months of inventory numbers. Months of inventory represents the time it would take to deplete the current inventory at the current sales rate. Last February, there were 7.2 months of inventory for single family homes and 9.1 months of inventory for condos. At the worst point of our market in November 2008, there were 24 months of inventory for single family homes and 41.7 months for condos.

Sarasota Distressed Properties

Sales of distressed properties represented only 27.5 percent of the overall sales in February 2013, down significantly from January’s figure of 35.4 percent, and far below the 51 percent figure experienced in the fourth quarter of 2010. The sales price differential between distressed and normal arm’s length sales continues to be high. Locally, the median sale price for a single family foreclosure sale was $96,000 in February, while the median for arm’s length sales was $220,000. Nationally, the price gap has narrowed to only 12 percent, according to Business Insider Magazine in an article headlined “Those Amazing Deals on Foreclosed Homes Are Disappearing.”

Currently, only 427 properties listed for sale in the MLS are short sales or foreclosures, down 43 from last month’s figure. This represents about 11.3 percent of available properties, down from last month’s figure of 12.2 percent and a big drop from January 2012 when the figure represented 17 percent of the market.

Summation

In February 2013, statistics continue to reflect a vibrant Sarasota real estate sales market, with many seasonal visitors and local residents purchasing homes or investment properties.  If you are looking to buy your piece of paradise, give us a call, we will learn about your goals, and will deliver more than you expect!

View Complete Sarasota Housing Report

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There were a total of 626 properties from the MLS that sold in January. It breaks down to 466 single family homes and 160 condominiums. That compared to 365 single family homes and 148 condos sold in January 2012. The January sales represented a drop off from the December 2012 total of 828 sales. A similar decrease was seen last year from December to January. In 2012, sales increased markedly in February, March and April, climbing to 886 closed transactions in April before dropping off slightly in the summer months.

Pending sales, which predict future closings, were at 1,047 in January – the highest level in nine months, and well above the pending sales reported in January 2012 (963). This statistic, which represents properties that went under contract during the month, indicates the February sales could also be at a healthy level.

Inventory level in the Sarasota housing market

The available inventory remained near the lowest level in a decade, but rose somewhat in January 2013 to 3,846 from the December 2012 total of 3,657. The figure was still 1,000 fewer properties than in January 2012.

The median sale prices for single family homes dropped slightly in January to $183,800 from the December 2012 figure of $189,500. But the figure was 14 percent higher than last January’s median of $162,000. Condo median sale prices dropped markedly in January 2013 to $130,000 from the December 2012 figure of $182,500, and were also much lower than last January ($180,000). A closer examination of the condo category showed many sales in the sub-$100,000 price range, which pulled down the overall statistic. In 2012, the full year median prices were 13 percent higher than in 2011.

The January 2013 months of inventory were 5.4 months for single family and 8.4 months of inventory for condos, somewhat higher than the December 2012 figures of 3.9 months and 5.4 months, respectively. The increase can be attributed to two factors – a large increase in new listings on the market (988 compared to only 596 in December); and the decrease in sales, both of which resulted in a larger inventory and smaller percentage of closed sales.

Months of inventory represents the time it would take to deplete the current inventory at the current sales rate. Last January, there were 8.3 months of inventory for single family homes and 11.3 months of inventory for condos. At the worst point of our market in November 2008, there were 24 months of inventory for single family homes and 41.7 months for condos.

Sarasota Short Sales and Sarasota Foreclosures

Currently, only 470 properties listed for sale in the MLS are short sales or foreclosures, almost identical to last month’s figure. This represents about 12.2 percent of available properties, down from last month’s figure of 12.9 percent and a big drop from January 2012 when the figure represented 17 percent of the market.

Sales of distressed properties, however, represented 35.4 percent of the overall market in January 2013, up slightly from the December 2012 figure of 32 percent, but still significantly below the 51 percent figure experienced in the fourth quarter of 2010.

Sarasota market Summary

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Anyway, onward!

Background Of The Complaint

Over the past 60 days or so, we have received numerous anonymous emails from someone who is obviously very upset that the listing that shows on our website for an address in Riomar is listed as part of the Cascades subdivision in Manatee County, when in fact according to their email, it is not part of the Cascades. They claim Riomar is it’s own subdivision (which is the neighboring subdivision).

This person thinks we listed this home and are actually intentionally misleading the public as to where it is actually located, and they are demanding us to cease misleading the public.

The Riomar & Cascades Confusion Explanation

Ok, let’s talk about the community first. I can understand why he/she is confused. The Cascades is the master development plan, and Riomar is a phase from that master development plan. See the attached image of the tax record for a Riomar property. They operate independently, but from a legal description sense, Riomar is indeed a phase of the Cascades.  Phase II according to the tax record.

I erased the address, because it is irrelevant. This address is West of Tuttle Avenue in the community of Riomar. All homes in Riomar have legal descriptions similar to this one.

We are not the one’s that decided this, this is actually the Manatee County Property Tax office indicating that Riomar is a phase of the Cascades master development plan.

Riomar is its own community

Even though according to the legal description of the property, it is a phase of the Cascades, this community is independent.  They have their own rules, regulations, and community government.

Why Is Riomar Listings Showing Under Cascades Listings on Your Website Then?

Great question! Our MLS (which is the central database of all Sarasota Real Estate agent listings for sale in Sarasota & Bradenton) pulls the data and compiles it using tax record information. My website takes the MLS data, and organizes it and displays it in a manner that visitors and clients can search for homes super-easily. Since Riomar’s tax record in the Manatee County book of records indicates it is phase II of the Cascades, the MLS data feed will also indicate Riomar listings as the Cascades.

Then, from there, we display all the listings available through the entire MLS from all brokerages and all agents that participate in the MLS.  So, the good news is we are a one-stop shop for looking at ALL Sarasota listings available from the MLS!

The listing that this person keeps writing to us about is not our one of our Sarasota listings actually. However, even it it was our listing, we can not change what is displayed on the website regarding community name due to the manner Riomar’s tax record is written.

In Conclusion

I really hope that this clears up the Cascades and Riomar misunderstanding for this frequent visitor.  As a Sarasota Realtor, I would never purposefully mislead the public, that I can assure you.

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1400 Quail Drive in Sarasota Florida!

Granite counters, custom cabinets, wood and marble flooring! Features two wood-burning fireplaces,home theater! *Tropical swimming pool with waterfall with Spa and Cabana! * Dock and boat lift! No bridges to Bay!!! Game room, home office, a wine cellar!!! Oversized 2 car garage! Best location in Sarasota! $1.2M for this fantastic listing.

Right now, it is a WeSellsarasota.com exclusive, and you can only find it online here!! …but not for long, so if you want to get the first shot at it before it hits the MLS, contact us now!!

Property Data Sheet: 1400 Quail Drive, Sarasota Fl.

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Contact Us About This Listing

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Here is just a short list of some of the improvements.

• Mobile device friendly!

  Now, you can browse WeSellSarasota.com from any mobile devices like Iphone, Ipad, Droid, etc. with ease.

• Save searches and favorite listings.
• Similar and sold listing recommendations.
• Display results in a list, on a map, or with a grid.
• Open house and sold listing search.
• Interactive map search.

If you are a regular visitor, be sure to register your free account in order to save your favorite listings and search criteria.   Whether this is a first visit or you are a frequent visitor, feel free to drop me a note in the comment section below and let me know what you think of the new website.  I do listen to all your feedback !

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Median sale prices have remained very stable, averaging $155,925 for single family homes and $156,800 for condos over the full year. The market has come a long way in 3 years. Sales performance for the Sarasota area is impressive, and represented a 44 percent increase over the low point of the downturn in 2008, when there were 5,820 properties that sold. It is very clear that Sarasota remains a top destination for many homebuyers seeking the Florida lifestyle.

If you are considering a purchase in Sarasota, contact us to help you find your Sarasota dream home!

Property transactions in the Sarasota real estate market jumped 7.3 percent in December 2011, compared to the November totals. Combined sales stood at 648, up from last month’s figure of 602 and the October 2011 sales of 577. This sales resurgence has paralleled the drop in the available inventory, and put the remaining months of inventory in the range of a seller’s market.

The inventory of available properties for sale in Sarasota was at 4,567 in December, down slightly from the 4,672 in November. The inventory fell to a 10-year low of 4,408 in August 2011. As the inventory has slid, the months of inventory has dropped and now stands at 6.3 months for single family homes and 9.2 months for condos. A figure of 6 months is considered equilibrium between a buyer’s and a seller’s market.

The December 2011 median sale price for condos recovered strongly to $150,000 from November’s figure of $127,000. This was the highest level since August 2011. Condo prices have been fluctuating for several months, with the year-to-date median sale price at $156,800.

For single family homes, the median sale price dropped slightly in December to $160,000 from $162,000 in November 2011. For the overall year, the figures have remained remarkably steady, indicating a stabilizing market.

Click HERE for the complete press release in PDF format, plus six pages of statistical charts.

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411 North Casey Key Road

Listed for $19,000,000

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Spanning over 300′ of pristine, white sand beach, this magnificent & very private gulf-and-bay-front compound includes 3 separate custom residences & occupies nearly three lushly landscaped, gulf-to-bay acres on the highly-coveted north end of Casey Key.The two principal homes in this remarkable, walled-in compound share dazzling, unobstructed views of the Gulf of Mexico, a seaside sculpture garden, sumptuous pool with cascading rock fountain; & access to two private boat docks. The newly-resurfaced tennis court, lighted for nighttime play, is situated between the 2 Gulf-front homes. Several dining & sun decks with views of the Gulf & the estate’s private strand of beach make this setting an absolute jewel for entertaining; or simply watching Southwest Florida’s legendary sunsets. A third home, nestled alongside Little Sarasota Bay, & a large additional parcel of land to its immediate south complete this expansive, one-of-a-kind compound. Beach entry is provided via private boardwalk & each home within the compound has an attached 2 car garage. Walled & gated, this luxurious estate comingles the elegant feel of an expansive Mediterranean villa with a dramatic setting worthy of Hollywood.

411 N. Casey Key Rd, Osprey, FL 34229 (MLS # A3933597)

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Spanning over 300' of pristine, white sand beach, this magnificent & very private gulf-and-bay-front compound includes 3 separate custom residences & occupies nearly three lushly landscaped, gulf-to-bay acres on the highly-coveted north end of Casey Key.The two principal homes in this remarkable, walled-in compound share dazzling, unobstructed views of the Gulf of Mexico, a seaside sculpture garden, sumptuous pool with cascading rock fountain; & access to two private boat docks. The newly-resurfaced tennis court, lighted for nighttime play, is situated between the 2 Gulf-front homes. Several dining & sun decks with views of the Gulf & the estate's private strand of beach make this setting an absolute jewel for entertaining; or simply watching SouthwestFlorida's legendary sunsets. A third home, nestled alongside Little Sarasota Bay, & a large additional parcel of land to its immediate south complete this expansive, one-of-a-kind compound. Beach entry is provided via private boardwalk & each home within the compound has an attached 2 car garage. Walled & gated, this luxurious estate comingles the elegant feel of an expansive Mediterranean villa with a dramatic setting worthy of Hollywood.

Property Type(s): Residential / All, Residential / Single Family

Last Updated	6/3/2013	Tract	Casey Key
Year Built	1977	Community	n/a
Garage Spaces	5.0	County	Sarasota
Total Parking	5	Walk Score ®	6

Location

Listing information deemed reliable but not guaranteed. Read full disclaimer.

(view all details for MLS #A3933597)

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8250 Sanderling Road

Listed for $14,500,000

This residence has the same style as another luxury Sarasota home I personally sold earlier this year.

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Architectural Award-winning Beach House. This dramatic sculptural residence is situated in the very private and gated Sanderling Club on Siesta Key. The home turns abstract art into concrete reality. After a four year collaboration, the homeowners andtheir architect, Guy Peterson, agree that they achieved exactly the modern masterpiece they envisioned. Peterson organized living spaces in color coded “cubes”. The cubes reflect a privacy gradient from public uses to shared spaces to family areas to children’s zone. The home is perfectly designed for its’ beachfront setting with deep overhangs which shade the property from direct sunlight but allow for maximum light and spectacular water views. The home functions like a private family resort with its wonderfully large pool designed to accommodate both water polo games and lap swimming. The pool features a slide purely for the fun of it and an oversized Jacuzzi for relaxing. A fire pit is ideal for evening gatherings and the volley ball court attracts players of all ages. The stunning 1.53 acre site features beautifully landscaped gardens on both the entry side of the residence and the beach side living and entertaining area.

8250 Sanderling Rd, Sarasota, FL 34242 (MLS # A3940236)

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Architectural Award-winning Beach House. This dramatic sculptural residence is situated in the very private and gated Sanderling Club on Siesta Key. The home turns abstract art into concrete reality. After a four year collaboration, the homeowners andtheir architect, Guy Peterson, agree that they achieved exactly the modern masterpiece they envisioned. Peterson organized living spaces in color coded "cubes". The cubes reflect a privacy gradient from public uses to shared spaces to family areas to children's zone. The home is perfectly designed for its' beachfront setting with deep overhangs which shade the property from direct sunlight but allow for maximum light and spectacular water views. The home functions like a private family resort with its wonderfully large pool designed to accommodate both water polo games and lap swimming. The pool features a slide purely for the fun of it and an oversized Jacuzzi for relaxing. A fire pit is ideal for evening gatherings and the volley ball court attracts players of all ages. The stunning 1.53 acre site features beautifully landscaped gardens on both the entry side of the residence and the beach side living and entertaining area.

Property Type(s): Residential / All, Residential / Single Family

Last Updated	3/16/2013	Tract	Sanderling Club, Siesta Properties Inc Unit 1
Year Built	2000	Community	n/a
Garage Spaces	4.0	County	Sarasota
Total Parking	4	Walk Score ®	6

Location

Listing information deemed reliable but not guaranteed. Read full disclaimer.

(view all details for MLS #A3940236)

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600 North Jackson Road

Listed for $13,500,000

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Exquisite 100-acre luxury equestrian estate that is among the finest properties in Florida. Magnificent residence with the finest appointments and craftsmanship available, including a spectacular gourmet kitchen, gym and state-of-the-art home theater.Thoroughbred facilities that will satisfy the most discriminating equestrian buyers, including 22 stables, 10 paddocks and track. Tennis court, fabulous guest house, 8-car garage, plus equipment garages and 2 caretaker’s apartments only name a few of the other features. Pass through the natural stacked stone, secured, iron gate and imagine being transported to a pastoral landscape in Northern Italy or somewhere in Spain. Winding down the tree-lined entrance, one is in awe of the beauty of this estate and is struck in wonder when first gaining sight of the magnificent home that punctuates the landscape. This grand main home includes 5 bedrooms, 7 full and 4 half baths and is dramatic in its architectural style and detail. The main entry into the home showcases arched, custom mahogany double doors which open into the extraordinarily opulent two-story cathedral-esque space of the great room. A 35-foot vaulted, raftered, cedar ceiling adds an overwhelming freedom to the space. The gorgeous Tennessee sandstone flooring and floor-to-ceiling, double-sided, white marble stone fireplace further add to the beauty of this space. From this point on in touring the home one is in continual awe of the finishes and the most discriminating buyer will not find fault.

600 N Jackson Rd, Venice, FL 34292 (MLS # A3938290)

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Exquisite 100-acre luxury equestrian estate that is among the finest properties in Florida. Magnificent residence with the finest appointments and craftsmanship available, including a spectacular gourmet kitchen, gym and state-of-the-art home theater.Thoroughbred facilities that will satisfy the most discriminating equestrian buyers, including 22 stables, 10 paddocks and track. Tennis court, fabulous guest house, 8-car garage, plus equipment garages and 2 caretaker's apartments only name a few of the other features. Pass through the natural stacked stone, secured, iron gate and imagine being transported to a pastoral landscape in Northern Italy or somewhere in Spain. Winding down the tree-lined entrance, one is in awe of the beauty of this estate andis struck in wonder when first gaining sight of the magnificent home that punctuates the landscape. This grand main home includes 5 bedrooms, 7 full and 4 half baths and is dramatic in its architectural style and detail. The main entry into the home showcases arched, custom mahogany double doors which open into the extraordinarily opulent two-story cathedral-esque space of the great room. A 35-foot vaulted, raftered, cedar ceiling adds an overwhelming freedom to the space. The gorgeous Tennessee sandstone flooring and floor-to-ceiling, double-sided, white marble stone fireplace further add to the beauty of this space. From this point on in touring the home one is in continual awe of the finishes.

Property Type(s): Residential / All, Residential / Single Family

Last Updated	4/30/2013	Tract	North Venice Farms
Year Built	2003	Community	n/a
Garage Spaces	n/a	County	Sarasota
Total Parking	5	Walk Score ®	0

Location

Listing information deemed reliable but not guaranteed. Read full disclaimer.

(view all details for MLS #A3938290)

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5965 Gulf Of Mexico Drive

Listed for $11,500,000

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LONGBOAT KEY “THE JOHNSON ESTATE” located on TWO+ acres with 150 ft of pristine beach front on the Gulf of Mexico. This heralded, gated estate completed in 2007 in accordance with current code hosts 10,000 sq. ft. of sheer neoclassical elegance. Archedcathedral clerestory windows and French doors frame serene views of unending blue waters, beach & sunsets. The 7BR/6.5 BA- 2 complete master baths! -with spacious guest wing designed for privacy are joined by resort-like amenities such as a freshwater pool w/ salt generating chemicals & mosaic underwater table, stools, benches, spa + 5000 a/c square feet of play and storage area. Multiple covered patios and open spaces overlooking the pool and beach are ideal for romantic sunset dining or grand entertaining. Direct beach access from pool area. Interior highlights feature a 2-story library designed after the Biltmore House library, motorized high chandeliers, music/entertainment area, 3 laundry rooms, gourmet kitchen, Bizazza glass mosaics and marble baths, handcrafted “wave & seashell” wrought iron railings, opera balconies and double mahogany stairway. “Light Touch” programmable lighting system, sun room, bay windows with window seats, walls faux painted-no wallpaper! 3 outdoor garden showers, lush mature landscaping and butterfly gardens. Brick paver circular motor court leads to 4-car garage. Security cameras & emergency generator for entire home.

We're sorry, but we couldn't find MLS # a3933339 in our database. This property may be a new listing or possibly taken off the market. Please check back again.

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1232 North Casey Key Road

Listed for $9,950,000

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Poised on over an acre at the exclusive North end of Casey Key this walled and gated elegant estate offers the utmost in comfort and security. Completed in 2005 this luxurious residence offers exquisite detailing throughout with custom iron work, woodcoffered ceilings, custom millwork and art glass windows. Designed to capture both Gulf and Bay views terraces enlarge the outdoor living areas which include a large summer kitchen overlooking the infinity edge pool. Serene views, a covered dock, whole house generator, elevator, staff apartment and private beach complete the perfect island estate.

We're sorry, but we couldn't find MLS # a3951140 in our database. This property may be a new listing or possibly taken off the market. Please check back again.

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If you’re interested in buying  Sarasota Luxury homes for a possible purchase, we would be delighted to assist you in your search.
Please contact us for a consultation so we may learn more about your personal luxury residence needs,  and allow us to exceed your expectations in personal service.

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What is the year to date (as of October 2011 report) percentage increase in MLS sales for both single family homes and condos for Sarasota?

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Siesta Key Homes  – #1

The first home is a 2 bed, 2 bath 1620 sq ft home located on 1 1/2 canal lots in Siesta Manor. It was built in 1970, offering 1620 sq feet. This home’s location is fantastic. It is walking distance to the ever popular Siesta Village. This was a great investment opportunity, as evidenced by the very short market time. The list price was $379,900, and went under contract 21 days later, and sold for the 91.3% of the list price at $347,000.

Siesta Key Homes – #2

The second featured home was built in 2007 and situated in Siesta Beach community. It is a 4 bedroom, 2 1/2 bath, boasting over 3100 sq feet. The home is surrounded by a canal and water on two sides, and has a new dock and 166′ of seawall with 13,000 lb. lift. Hardwood floors, gourmet kitchen and custom wood cabinets are a few featured of the beautiful home. Just walk to the beach!

The list price was $999,900, and was on the market 65 days before it went under contract. It closed for 95% of the list price ($950,000).

If you are interested in your own slice of Siesta Key real estate, Check out all Siesta Keys Homes for sale now!

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…BUT, I thought I would throw out a trivia question for you.  I thought it would be fun to see what you think, and to see how quickly someone gets the correct answer.   Ok, here it goes (In my best game show voice)…

According to the September 2011 MLS market sales report for Sarasota,  how many Sarasota real estate sales have occured over $1 million dollars since January 1 2011?

Feel free to offer your best guess in the comments below!

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