Stoneybrook on Palmer Ranch is an excellent choice for investment and enjoyment. As one of Sarasota’s most affordable gated country club communities it is made even more desirable by it’s close proximity to the beaches of Siesta Key. Sarasota Square mall is also very close by. The clubs amenities include restaurant, pools, fitness center tennis and many social activities. Currently there are 42 condominiums for sale ranging in price from $169,900 to $335,000. The average price is $236,811. Because of the amenities, transferable golf memberships and proximity to the beach these condominiums are readily rented for the winter season. This year 18 condos were sold in Stoneybrook at an average selling price of $239,550. On average the properties sold garnered 92% of their sales price. For more details about the available properties, click here.
The Swanepoel Trends Report recently conducted a study of marketing trends. They found that the Sun-Times Group, owners of the Chicago Sun Times and other trouble newspapers recently filed for bankruptcy. The group has had 12 failed newspapers in the last year. Gatehouse Media, a newspaper conglomerated had 8 failed newspapers and presided over $3,000,000 in losses and declining revenue of 15%. The Ganett Company was hit with a 34% decline in revenues and saw 7 of it’s papers fail. additionally, The Tribune Company, owners of the Baltimore Sun and the Los Angles Times filed for bankruptcy in 2008. The newspapers are suffering unsustainable losses mainly because the print model has been made largely irrelevant due to the internet and other means of electronic delivery. This Christmas we are seeing an enormous demand for electronic media readers such as Amazon’s “Kindle” and Barnes & Noble’s “Nook”. People may be reading more than ever, they’re just not reading newspapers. The National Association of Realtors conducted it’s own studies indicating that 90% of home buyers begin their home shopping on the internet. In recognition of this trend we continue to focus our marketing efforts on our websites, blogs and social media.
Today, Sarasota’s Ritz-Carlton will begin serving Black Angus burgers on the waterfront patio. Casual waterfront dinning will be available Fridays and weekends from 11 a.m. to 8 p.m. Affordable fare will include the Big Bufford burger with cheddar, bacon, and onion ring and BBQ sauce. Casual dinners will also enjoy checkin sandwiches, hot dogs, cocktails and milkshakes. Dinning at the Ritz for less than $10.00… We’ll see you there.
MSNBC recently quoted Arthur Wong who runs a Canadian based U.S. Real Estate fund as saying, “This could be a once-in-a-generation opportunity for real estate investment.” The artilce went on to state that Buyers from countries like Brazil, France, and the Netherlands with strong currencies are spending millions on condominiums in Florida, New York and Las Vegas.
“As part of our global asset allocation, we are targeting Florida as one of the areas with the most potential to recover value on the residential side,” said Shlomo Cohen, vice president of real estate for Dizengoff-Trading Group which just completed the purchase of 115 condo units in Palm Beach. The same Isreali based company completed the purchase of 118 condos in Jensen Beach in September.
The weak dollar and market which by many accounts has reached bottom is fueling a flurry of investment is Florida. I see many great deals here in our Sarasota/Bradenton market and are working on many purchases with foreign investors. Now is the time to back into the market.
Tortuga on Siesta Key is among my favorite condominiums on Siesta Key. Tortuga is a great choice for anyone looking for a full time residence on the beach or for a winter homes. Visit www.tortugasiestakey.com for more information.