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Sarasota-Manatee Real Estate Market Continues To Favor Sellers

Sarasota, Florida (May 2017) -- In the latest figures compiled by My Florida Regional MLS, the April 2017 residential real estate market looks quite healthy. During April of this year, an increase occurred in single family home sales, median sales prices, and inventory across Sarasota and Manatee, in comparison to April 2016.
Sarasota and Manatee Median Home Prices
Median home prices in Sarasota County rose by 9 percent for single family properties, rising to $272,500. While in Manatee County, single family median prices rose by 5.4 percent, up to $285,000. However, condos median prices in Sarasota Counties declined by 1.4 percent, falling to $215,000. But, condo median prices in Manatee County did rise by 2.1 percent, bringing it up to $170,500.

The number of new listings put into the local MLS across both Sarasota and Manatee counties decreased from March, likely marking the end of the season. "This year’s season started slow in January, but picked up steam in February and March, levelling out again in April," said Xena Vallone, the President 2017 Realtor Association of Sarasota and Manatee said.
Top five luxury homes closed in April
1372 Harbor Dr, 4 bedrooms, 3 full baths,... read article

Should I Refinance To Stop Paying PMI

You probably don't like having to pay more out on a monthly basis than you absolutely have to but, it's a reality you've come to accept -- to a point. As your home gains more equity, it comes closer to be worth enough to let you out of paying for private mortgage insurance or PMI. You might know that it's not insurance for your benefit, but for the lender, particularly because it does provide protection in the event you are unable to pay your mortgage.
What you might believe, due to a lot of misconceptions which float out in the nether, is that your PMI doesn't magically go away. Many people think that once their principal balance falls to 80 percent, private mortgage insurance detaches itself from their monthly obligation, but that's not the case. Most lenders require you go through a process in order to cancel PMI.
There are different ways to get into a position that allows you to cancel private mortgage insurance. One, of course, is to pay more into the principal to accelerate your equity position. Another way is to use savings or other... read article

Sarasota Real Estate Market Sales Increase

Sarasota, Florida (April 2017) -- During the month of March, the Sarasota-Manatee real estate market experienced a sales bump as the season begins to wind down. In fact, data collected by the Florida Realtors of My Florida Regional MLS, shows strong numbers in county combined closed sales for condos and single family properties. Those combined sales represent an increase of 6.2 percent over March 2016.
Sarasota and Manatee Closed and Pending Sales
This continues a trend, as single family homes in Sarasota County increased by 2.4 percent and condo sales rose by 0.4 percent in February. For Manatee County, closed sales for single family residences rose by 6.6 percent in February.

For the month of March, condo sales in Sarasota increased by 13.5 percent, compared to last year, while single family property sales rose 2.6 percent. In Manatee, condos actually experienced a dip of 4.4 percent, compared to last year, but single family home sales rose by 11.7 percent.

Pending sales -- the number of listings which went under contract during the month -- are generally considered a strong indicator of the following month's sales performance. In both Sarasota and Manatee counties, pending sales rose by 6.1 percent, compared to March 2016. This, despite... read article

Best Seller Open House Hosting Tips

As the Sarasota market continues to favor sellers, more homeowners are jumping in, opting to sell their properties as home value steadily rise. So, now is the time to know the best seller open house hosting tips to get top dollar and increase your return on investment. Buyers are eager to take advantage of the near historically low interest rates and to purchase before prices rise too high. It's all a matter of making the right impression, well before buyers see your home in-person.

Best Seller Open House Hosting Tips
Data collected by the National Association of Realtors reveals 92 percent of home searches begin on the internet. This figure certainly isn't surprising because it's the simple and easiest way to see scores of homes. Of course, clicking and tapping through hundreds of photos isn't a substitute for real-time experience. Buyers need to be on-site in order to get a complete understanding of what the home offers, the neighborhood dynamics, and more. But, to get buyers to actually see your home, said photos must pique interest and cause people to act.

When a home hits the market, one... read article

Sarasota/Manatee February Market Report

Sarasota, Florida (March 27, 2017) -- During the month of February, residential real estate inventory hit 8,557 properties across the two county market in both single family homes and condos. This represents the highest level of residential inventory since nearly five years ago, April of 2012.
Sarasota Manatee Real Estate Inventory Rises in February
In Sarasota County alone, single family inventory increased by 15.1 percent, compared to a year ago, February 2016. In Manatee County, single family inventory is also up against the same month last year by 6.5 percent. Condo inventory likewise rose in both counties. In Sarasota County, condo inventory rose by a remarkable 24.3 percent over last year. While in Manatee County, condo inventory rose slightly, by 1.6 percent.

“With more active listings on the market, buyers are able to take time to view and compare more properties, and are not under pressure to jump on the first property they see. We are seeing this translate into longer time on the market, making it even more important for sellers to price their properties appropriately,” said 2017 RASM President Xena Vallone.
Top five luxury homes closed in February
95 Columbus Blvd, 3 bedrooms,... read article

Bird Key Sarasota History

Located in Sarasota Bay, just south of the Ringling Causeway and nearby St. Armands Key, lies Bird Key. Originally, the small island was connected by a causeway which ran between it and the Ringling Causeway. Known as one of the most desirable locations on Florida's west coast, Bird Key was home to John Ringling North, a nephew of the famous circus magnate. Other famous residents include hard rock singer Brian Johnson and tennis star Martina Navratilova. And, one of its biggest boasts is the Bird Key Yacht Club, offering a marina, event hosting and much more.
Bird Key Sarasota History
Bird Key wasn't always the beautiful jewel we enjoy today. Back at the beginning of the last century, the small island was no more than a flocking ground for birds (hence the namesake). It only stood a few feet about the shallow grass flats surrounding it. That is, until Cincinnati transplant Thomas Martin Worcester fell in love with the plentiful fishing nearby.

The Worcesters and Arvida Realty Company
About late 1911 or early 1912, Mr. Worcester and his wife began to dredge and fill, raising the island out of the water by approximately 5... read article

Bradenton-Sarasota Ranked #1 For Well-Being In U.S.

Siesta_key_beachThe Bradenton-Sarasota-North Port earned the honor of being named the number 1 region for well-being in the country, according to research by the Gallup organization. Its well-being index scores 64.1, the highest among the 100 most populous metropolitan areas in the United States. Bradenton-Sarasota outranked Honolulu, Hawaii, Oxnard-Thousand Oaks-Ventura, Raleigh, North Carolina and Winston-Salem, North Carolina. What's more, Bradenton-Sarasota is the only metro area in the state of Florida to rank in the top 10.

Gallup Research: Bradenton-Sarasota Well-Being Rating Highest in United States
The Bradenton-Sarasota area scored high in all five essential elements of the study. The elements include residents being happy with their work; enjoying supportive relationships; managing the finances responsibly for less stress; liking their location; feeling safe and possessing good health, as well as reporting high energy levels. This means residents of the Bradenton-Sarasota are content and feel secure in their finances, community and purpose.

"Improving and sustaining high well-being is vital to any population's overall health and economy. State, local and business leaders should consider specific well-being interventions that make the healthy choice the easy choice for their population. A comprehensive long-term environmental strategy creates... read article

Sarasota - Manatee January Real Estate Market Starts Strong

Sarasota, Florida (February 2017) -- The two county area is off to a strong start for the year, according to the most recent real estate market data. Inventory was again a prime mover, which began in October, November, and December of last year. That particular trend continued in the month of January. Pending sales likewise rose in the first month of the new year, as did median home prices in both Sarasota and Manatee counties. Moreover, the two county area has struck a balance between sellers and buyers.
“The increased inventory is easing the supply and demand pressure and giving buyers more choices. The increase in pending sales is a good indication of future closed sales,” Xena Vallone, 2017 RASM President explains. “A balanced market is driven by supply and demand and favors neither the seller nor the buyer. If the market is strong and balanced, buyers have more choices and sellers have a larger pool of buyers.”

Top five luxury homes closed in January
2251 Gulf of Mexico Dr #502, 4 bedrooms, 4 full baths, 2 half baths $5,250,000
300 S Pineapple Ave #PH1, 4 bedrooms, 4 full baths... read article

Siesta Key History

Virtually uninhabited since settlers came to Florida, Siesta Key is a relatively new community. In the 16th century, the peninsula which would become the 22nd largest and 3rd most populous state in America, was home only to a few native Indian tribes. In 1513, Europeans began to explore the land. But, it wasn't until the early part of the 20th century, Siesta Key even became home to some daring families. At the time, it was completely unrecognizable from today. In fact, it's a wonderful transformation. And, it all started in earnest when one ambitious entrepreneur opened a fertilizer plant in about 1848.

Siesta Key History
Today, four districts comprise Siesta Key: Siesta Beach, Crescent Beach, Turtle Beach, and Siesta Key Village. But this certainly wasn't always the case. Home to just a few fisherman families, with plenty of mosquitoes and snakes to contend, its dense vegetation, wildcats, boars, and sand fleas made it all but uninhabitable. In fact, the only way to get supplies from the mainland was by boat, across Sarasota Bay. Therefore, it's no surprise only the most hardy and handy of families could call this... read article

December 2016 Sarasota Real Estate Condo Market Posts Increase

Sarasota, Florida (January 2017) -- The Sarasota and Manatee real estate market boasts strong condo activity for December 2016. Closed sales were particularly impressive in the condo unit category, while single family homes actually declined slightly, compared to the same month in 2015. Inventory across the two county real estate market rose again, as it did in the preceding months of October and November last year. This is somewhat unusual as the buying and selling season generally occur in the first few months of the new year.
“With increased inventory in the condo market, it appears our sellers started early in anticipation of northern visitors wanting to escape the harsh winters. This is the time of the year they wait for, it is truly when the largest pool of buyers are in the market to purchase their product,” Xena Vallone, 2017 Realtor Association of Sarasota and Manatee President, explains.
Top five luxury homes closed in December

280 GOLDEN GATE PT Unit#9, 3 bedrooms, 4 full baths $4,295,000
271 ROBIN DR, 4 bedrooms, 5 full baths $3,110,000
7610 SANDERLING RD, 5 bedrooms,6 full baths $2,989,000
3049 BAY SHORE RD, 4 bedrooms,5 full baths $2,862,500
1357 HARBOR DR, 4 bedrooms, 5... read article