Sarasota Realtors Robert and Valerie Orr
A World Of Real Estate Possibilities
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October 2013 Median Prices Rise Drastically Y-O-Y

The month of October in the Sarasota real estate market has been a good one, mightily outpacing the numbers posted in the same month of last year. Property sales prices spiked in a dramatic fashion, especially in single family properties, which dramatically overshadowed condo unit sales and townhomes.

A shift occurred during the month, which is likely attributable to price escalation, which was markedly pronounced in the condo category.

Another factor is that more homes put on the market in recent months have been over $200,000, which tend to favor single family properties. That puts buyers looking for a bargain in a position where it's better to spend a little more to get a lot more in return. Simply put, in residences priced over $200,000, there are more deals to be had.
Sarasota Homes See a Median 11.6 Percent Price Increase from Y-O-Y
The median sales price climbed to an astounding $186,776 in October for single family dwellings, which represents an increase of 11.6 percent from the same month last year when the median sales price stood at $166,500. Condo too, performed well, with prices rising to $175,000, a 20.7 percent increase from last year, when the median sales price was at $145,000.

The twelve... read article

Laurel Lakes Real Estate Report For October

Just to the north of Bee Ridge Road lies the home community of Laurel Lakes. This gated neighborhood is one of the newer in the area and has some very nice on-site amenities. Residents enjoy a heated swimming pool, two har-tru clay tennis courts, an exercise room, a beautiful clubhouse, and scrumptious landscaping.

Along its winding sidewalks are 291 single family luxury homes; each well-equipped and built from the finest materials. The community gives homeowners easy access to Sarasota’s many destinations. It’s ideal for families, professionals, snowbirds, and retirees alike. What’s more, the community doesn’t burden its residents with CDD (community development district) fees as do similar neighborhoods.

Laurel Lakes by the Numbers

In the month of October, Laurel Lakes had no new listings and one home Sold during October, which included:

The average list price in October (No New Listing for the month)
The average sales price was $436,750

Inside the Numbers
Laurel Lakes performed very well against its nearby community competition:
See New Listings
See Average Days on the Market
See Recently Sold Properties
See Inventory totals

Click on address for detailed information on new listings
No new Listings for October

View all Laurel Lakes homes for sale

... read article

Turtle Rock Real Estate Report For October

Located in the master-planned community of Palmer Ranch in beautiful Sarasota, Florida, are twenty-three communities. At the southern end of the development lies Turtle Rock, a gated, secure, single family community, with many amenities and over 500 acres of wetland set aside for wildlife, this community, built in the 1990's is one of the most magnificent places to embrace the tropical lifestyle. Complete with a community clubhouse, large swimming pool, tennis courts, a basketball court, children's playground, a nature trail and well-landscaped sidewalks, it's ideal for lazy weekends, quiet nights, and evening strolls.

Turtle Rock by the Numbers
In the month of October, the community boasted an upward real estate market, which included:
The average list price was $443,400
The average sales price was $404,822
The average sales price increased by 8.5 percent from year's average

Inside the Numbers
Turtle Rock performed very well against its nearby community competition:
See New Listings
See Average Days on the Market
See Recently Sold Properties
See Inventory totals

Click on address for more Details on new listings for October
7953 Meadow Rush Loop Sarasota Florida 34238
5112 Far Oak... read article

Silver Oak Real Estate Report For October

With its lavish 230 acre new construction landscape, Silver Oak is one of the most exciting and sophisticated communities in Sarasota’s Palmer Ranch. Comprised of three upscale neighborhoods, Silver Oak features two to five bedroom homes ranging in size from 2,000 square feet to over 7,000 square feet.

The Enclave is situated on the west side of the community, with just 21 homes occupying a private cul-de-sac set. Nearby, The Vineyards is located, with 71 Mediterranean-themed residences, complete with a clubhouse and swimming pool. Silver Oak Estates is the most posh neighborhood, with spacious lots ranging from one-quarter to half an acre in size.

Approximately 270 homes are located in the gated community of Silver Oak, and two of its neighborhoods feature maintenance-free living.
Silver Oak by the Numbers
In the month of October, this community had One new listing and two sold homes, which included:

The average list price in September was $499,900
The average sale price during the month of August was $814,750

Inside the Numbers
Silver Oak performed very well against its nearby community competition:
See New Listings
See Average Days on the Market
See Recently Sold Properties
See Inventory totals

Click on address to view more details... read article

Pricing Your Home To Sell

Putting a property up for sale is a big decision. What makes it all the more difficult is the fact that the majority of homeowners do not have any experience in selling a property. Of course, in order to sell, you must first have bought a home, but that alone does not make a real estate marketing guru.

The nuts and bolts are a bit more minutiae than exact science because real estate is fluid; slow often times, yet still flowing. For example, in the month of November, the Sarasota market recorded 4,708 sales and there are about 3,000 homes for sale currently. The median sales price is $193,750, however, the average listing price is $612,682--that's quite a difference. Could it be most homes go on the market overpriced? Or is it just a matter of arithmetic--the difference between "median" and "average" is not only semantic, but mathematical.

Truth be told, it's far too common for FSBOs or For Sale By Owner to be overpriced. The dirty little secret here is it's the worst kept secret in the game of real estate. Sellers know they price their property too high--that's supposed to give them negotiating power. Buyers know overpriced properties when they... read article

Challenges Of Selling A Custom Built Home

When it comes to selling a property, there are a number of factors to consider. Selling a home means having to purchase another, and carefully orchestrating the ebb and flow of marketing and home search to get the two into a synergy that ultimately comes to a simultaneous conclusion.

The current median list price in Sarasota is $329,000, a year ago it was $315,000, a near five percent increase in the year over year figures. However, the median list price isn't the same as the average listing price, and it sure isn't the average selling price. The average number of price reductions is at 444 in the latest statistics which means a significant portion of sellers have had to adjust their asking price.

What these numbers also mean is that it's a greater challenge to sell a custom built property. The reason of course, is a custom house was constructed with only the original occupants in mind. Luxury properties are a niche in the real estate industry, but custom luxury homes are even smaller. Big prices, big marketing, big challenge, and a small pool of qualified, willing buyers sums up the proposition of selling a customized home best.
The Tract Home and the... read article

Laurel Oak Estates & Country Club Real Estate Report For November

Laurel Oak has about 400 impressive luxury homes ranging in size from 3,000 up to 10,000 square feet, with some of the communities inside the Laurel Oak Country Club being maintenance free. Three subdivisions comprise this five-star home development, with generous lot sizes and features everything from elegant villas to palatial estates.

Homeowners will most enjoy the beautiful, well-kept grounds, stretching over 800 acres, maintained by the community’s HOA. Amenities include two championship golf courses designed by Gary Player and Rees Jones, 12 tennis courts, heated swimming pool, and 45,000 square foot clubhouse.

Laurel Oak by the Numbers
In the month of November, this community had 4 new homes listed and no sold homes, which included:
The average list price in November was $ 1,114,498
No homes closed for the Month

Inside the Numbers
Laurel Oak performed very well against its nearby community competition:
See Average Days on the Market
See Recently Sold Properties
See Inventory Totals

Click on Address for more details about new listings
7796 Alister Mackenzie Drive Sarasota Florida 34240
2919 Dick Wilson Drive Sarasota Florida 34240
7767 Alister Mackenzie Drive Sarasota Florida 34240
View all Laurel Oak homes for sale
7724 Alister Mackenzie Dr Sarasota... read article

Silver Oak Real Estate Report For November

With its lavish 230 acre new construction landscape, Silver Oak is one of the most exciting and sophisticated communities in Sarasota’s Palmer Ranch. Comprised of three upscale neighborhoods, Silver Oak features two to five bedroom homes ranging in size from 2,000 square feet to over 7,000 square feet.

The Enclave is situated on the west side of the community, with just 21 homes occupying a private cul-de-sac set. Nearby, The Vineyards is located, with 71 Mediterranean-themed residences, complete with a clubhouse and swimming pool. Silver Oak Estates is the most posh neighborhood, with spacious lots ranging from one-quarter to half an acre in size.

Approximately 270 homes are located in the gated community of Silver Oak, and two of its neighborhoods feature maintenance-free living.
Silver Oak by the Numbers
In the month of November, this community had four new listings and one sold home, which included:

The average list price in November was $1,012,600
The average sold price during the month of November was $560,000

Inside the Numbers
Silver Oak performed very well against its nearby community competition:
See New Listings
See Average Days on the Market
See Recently Sold Properties
See Inventory Totals

Click on address to view more details... read article

Bird Key Real Estate Report For November

Between downtown Sarasota and peaceful Lido Key lies Bird Key, an exclusive waterfront community which boasts panoramic views of the bay, canals, and the Gulf of Mexico. With approximately 510 residences on the barrier island, this upscale area is just minutes from Longboat Key and internationally renowned St. Armands Circle via the John Ringling Causeway.

First developed in the 1950s and 1960s, many of the original homes have been replaced by newer construction or have undergone extensive remodels. Residents of this island not only enjoy waterfront living, they also enjoy one of the finest and most convenient locations in the area.

Bird Key by the Numbers
In the month of November, this community had an active real estate market, which included:
There were 4 new listings with an average list price of $1,906,250
There were 2 homes sold in the month of November for an average price of $ 750,000

Inside the Numbers
See New Listings
See Average Days on the Market
See Recently Sold Properties
See Inventory Totals

Click on address to view more details on new homes listed:
585 S Spoonbill Drive Sarasota Florida 34236
... read article

Founders Club Real Estate Report For November

One of the best kept secrets in all of Sarasota is the 700 acre luxury community known as The Founders Club, with its beautiful landscaping and 18 hole golf course designed by course architect Robert Trent Jones Jr.

More like a resort than a community, the Founders Club boasts many amenities, including outdoor tennis courts, basketball, sand volleyball, and picnic areas. Its crown jewel is the 24,000 square foot Golf Hall with an elegant dining room, casual bar and grille, a private dining room, and a stunning outdoor terrace.

Founders Club by the Numbers

In the month of November, the community recorded an upward real estate market, which included:

An average list price of $ 2,372,500
An average sale price of $1,755,000

Inside the Numbers

Founders Club performed very well against its nearby community competition:

See New Listings
See Average Days on the Market
See Recently Sold Properties
See Inventory Totals

Click on address to view more details on new homes listed
3224 Founders Club Drive Sarasota Florida 34240
8257 Archers Court Sarasota Florida 34240

View all Founders Club homes for sale... read article

Cherokee Park Real Estate Report For November

Near world famous St. Armand’s Circle is Cherokee Park, a community first developed in 1926 with luxury homes featuring Italian, Spanish or Moorish architectural styles. Most of the residences in the neighborhood of Cherokee Park have been remodeled, which range widely in floor plan from Florida ranch style mansions. The largest and most expensive residence sold in 2007 for $6,600,000.

The most attractive thing about this Sarasota community is its location. Close to St. Armand’s Circle and the Asolo Theatre, it’s also near Siesta Key Beach. Residents can enjoy a round of golf or nightlife and entertainment is just a stone’s throw away. Its palm-lined roads are quintessential Florida, with many homeowners boating in the bay or gulf.

Cherokee Park by the Numbers

In the month of November, this community had one new home listing and one home sold during the month.

1 home listed at $ 779,000
There was 1 home sold for the month at $ 2,100,000

Inside the Numbers
See New Listings
See Average Days on the Market
See Recently Sold Properties
See Inventory Totals

Click on address to view more Details on new listings for November
1742 North Drive Sarasota Florida 34239

View... read article

Sarasota Median Prices Climb 20.6 Percent For Single Family Properties In November

Sarasota Median Prices Climb 20.6 Percent for Single Family Properties in November

In the latest year over year figures, the median price for a single family home rose 20.6 percent. Last November, the median price of a single family property was $155,000, it now stands at $187,000. These numbers show a clear trend of a local market in full recovery. In addition, the state of Florida leads the nation in real estate cash purchases, according to Realtytrac. This is a sign investors as well as residential homeowners are confident about the upward trend of the state's real estate market.

This is likewise an improvement from October of this year, when the median price was at $185,776 for single family properties, and bested last year's figure of $147,000 in the same category. Condo prices were a bit less, coming-in at $157,750 compared to $160,000 in November 2012. However, the rolling median for the past twelve months was at $163,000, which represents an increase of 10.1 percent from the same month last year. In October of this year, condo prices were at $175,000, which is a decrease of 10.9 in November's figures.
Sarasota Homes See a Median 20.6 Percent Price Increase from Y-O-Y
Property sales in... read article

Hammocks Real Estate Report For November

With its heavily wooded nestled lots, featuring some pristine lakes views, The Hammocks is a luxury neighborhood located in Sarasota in its own delightful private setting. With its pristine lakes and preserves, this gated, beautifully landscaped community, boasts a dramatic entrance like none other.

Nature trails are one of the biggest amenities, perfect for long walks sunrise to sunset. The community also has a play area for kids, and is located in a convenient area. Impressive, high quality construction single family residences are situated around the nature preserves.

The Hammocks by the Numbers

In the month of November, this community had an active real estate market, which included:

The average list price in November was $525,500
The average sales price was $484,333

Inside the Numbers
The Hammocks performed very well against its nearby community competition:

See New Listings
See Average Days on the Market
See Recently Sold Properties
See Inventory Totals

Click on Address for detailed information
3872 Royal Hammock Blvd Sarasota Florida 34240
3730 Eagle Hammock Drive Sarasota Florida 34240

View all Hammock homes for sale... read article

Harbor Acres Real Estate Report For November

One of the most luxurious communities in Sarasota is Harbor Acres, a waterfront neighborhood just to the south of downtown Sarasota. With 166 home sites, winding along palm lined streets, residents enjoy bay front or canal front views from their homes. Stunning panoramic views of the Ringling Bridge and Bird Key are another reason this community is so desirable.

High quality construction and gorgeous landscaping reign supreme in this neighborhood. Close to shopping, entertainment, nightlife, dining, and the historic museums the area is so internationally well known for, Harbor Acres screams, “location, location, location”.

Harbor Acres by the Numbers

In the month of November, this neighborhood had two new listings, which included:

The average list price in November was $3,292,000

No Homes Sold in the month of November

Inside the Numbers

Harbor Acres performed very well against its nearby community competition:

See New Listings
See Average Days on the Market
See Recently Sold Properties
See Inventory Totals

Click on address to view more details on new homes listed
1435 Hillview Drive Sarasota Florida 34239
1380 Harbor Drive Sarasota Florida 34239

View all Harbor Acres Homes for Sale... read article

Laurel Lakes Real Estate Report For November

Just to the north of Bee Ridge Road lies the home community of Laurel Lakes. This gated neighborhood is one of the newer in the area and has some very nice on-site amenities. Residents enjoy a heated swimming pool, two har-tru clay tennis courts, an exercise room, a beautiful clubhouse, and scrumptious landscaping.

Along its winding sidewalks are 291 single family luxury homes; each well-equipped and built from the finest materials. The community gives homeowners easy access to Sarasota’s many destinations. It’s ideal for families, professionals, snowbirds, and retirees alike. What’s more, the community doesn’t burden its residents with CDD (community development district) fees as do similar neighborhoods.

Laurel Lakes by the Numbers

In the month of November, Laurel Lakes had two new listings during November, which included:

The average list price in November was $504,450
No homes sold during month of November

Inside the Numbers
Laurel Lakes performed very well against its nearby community competition:
See New Listings
See Average Days on the Market
See Recently Sold Properties
See Inventory Totals

Click on address for detailed information on new listings
2980 Seasons Blvd Sarasota Florida 34240
2942 Bravura Lake Drive Sarasota Florida 34240

View all Laurel Lakes homes for... read article

Turtle Rock Real Estate Report For November

Located in the master-planned community of Palmer Ranch in beautiful Sarasota, Florida, are twenty-three communities. At the southern end of the development lies Turtle Rock, a gated, secure, single family community, with many amenities and over 500 acres of wetland set aside for wildlife, this community, built in the 1990's is one of the most magnificent places to embrace the tropical lifestyle. Complete with a community clubhouse, large swimming pool, tennis courts, a basketball court, children's playground, a nature trail and well-landscaped sidewalks, it's ideal for lazy weekends, quiet nights, and evening strolls.

Turtle Rock by the Numbers
In the month of November, the community boasted an upward real estate market, which included:
The average list price was $413,900
The average sales price was $379,500
The average sales price increased by 4 percent from year's average

Inside the Numbers
Turtle Rock performed very well against its nearby community competition:
See New Listings
See Average Days on the Market
See Recently Sold Properties
See Inventory Totals

Click on address for more Details on new listings for November
7953 Meadow Rush Loop Sarasota Florida 34238
8200 Deerbrook Cir... read article

Should You Buy And Sell Or Sell And Buy?

Buy and sell or sell and buy? It's a common conundrum facing homeowners who want to list their property and purchase another. It's an unenviable position to be in--listing a home, finding the next perfect place and getting an offer accepted, then having to fund two mortgage payments. Very few people have the ability to afford paying two monthly loan installments, so it's best to sell and buy at the same time.

While it’s location, location, location, in real estate, it's not really possible to just up and relocate your home, so that means all that is left is to take advantage of the best timing and price your property fairly. After all, timing has a lot to do with selling a home, as does pricing.

The average listing price here in the Sarasota area is $620,479; however, the median sales price is $193,000--seemingly a big disparity. The reason is average and median are calculated differently, and another factor is homeowners often make the mistake of basing their listing price on the listing prices of comparable homes close by their home. The right way to determine an asking price is to look at sales of comparable properties in the last three to... read article