Sarasota Real Estate Investing

Sarasota Home Prices Up 5%

I have always said that when there is a recession Sarasota is among the last to experience it and among the first to recover.  The National Association of Realtors indicated that homes prices have fallen in 8 of 10 cities in the US in the third quarter.  At $185,200, the median home price in the Sarasota-Bradenton area is up 5.3% from the second quarter of this year.  Total home sales in Sarasota-Bradenton for the third quarter of this year  topped 2,314 which was about the same as in Q2 but up 32 percent from last year.    The Today Show named Sarasota the number one place to buy and it looks like now is the time to buy.  Visit www.todayshowsarasota.com for more information.

Ten Million Dollar Home in Sarasota

Wondering what kind of home you can buy in Sarasota for $10,000,000?  If so, you can click here to view a virtual tour a home that was just listed by another Sarasota broker. This waterfront home is located Lido Key’s prestigious Westway Drive.

Today Show, Sarasota is Best Place to Buy Real Estate

The Today Show just aired a segment on Real Estate naming Sarasota as the number one place in the country to buy real estate.  Our beautiful beaches were mentioned and  Sarasota was described as “a sophisticated city, an urban city with all the things that sophisticated people like to find.”  They also stated that the median home price in Sarasota is $175,800 which is own 34% from last year and that there has been a 13% increase in property values since last quarter indicating that the market has bottomed and is increasing again.  If you are a sophisticated person, Sarasota is the place for you and now is the time to buy!  The market has turned around.  Visit www.todayshowsarasota.com to see the video.

Heritage Oaks Condominium – Pending

Today one of our listings at Heritage Oaks Golf & Country Club went under contract. The cash buyer comes from the U.K.  and as with all of our European clients we will monitor the exchange rates to help them determine the best time to transfer funds to complete the transaction. The exchange rate was at 1.64 this afternoon. Golf condominiums like this are excellent choices for Europeans that holiday in the summer as they can rent the properties for peak winter season rates to Americans and enjoy the off season time for their traditional summer holiday.  You can click here to see details about this property.

Sarasota Boating

Sarasota is a fantastic place to enjoy boating. Sarasota has 36 miles of beaches and numerous inlets and islands to explore. While there are many boat ramps and launch sites throughout the county, serious boaters will want a more permanent home for their vessel. Of course owning a home or condominium directly on the water is the most obvious choice but their are many alternatives including numerous marinas with dry storage, yacht clubs, leased or owned boat slips, dockuminiums or rackuminiums.

The most visible of these is Marina Jack’s which is located at the center of Sarasota’s downtown bay front.  This marina offers many amenities and a great location.  Prices for boat slips start at $14.50 per foot per month.  If you have a boat of at least 35 feet and are looking for resort amenities in addition to a boat slip you should consider the Longboat Key Club Moorings.  Boat slips are individually owned a the Moorings but leased slips are available for $20 per foot  per month.  Their is an additional charge of $100 per months that provide for full use of the amenities of the Longboat Key Club Resort.  Yacht Clubs such as the Bird Key Yacth Club and the Sarasota Yacht Club are another alternative which also feature resort amenities.  New additions to the boating scene in Sarasota are facilities like the Phillipi Harbor Club which offer dry storage in an enclosed building.  These rack spaces are called rackuminiums.  Prices start at $50,000.  

Here are just a few of the boating facilities here in Sarasota:

• Marina Jack’s 941-955-9488
• Siesta Key Marina 941-349-1970
• Sarabay Marina 941-349-1970
• Bird Key Yacht Club 941-955-2406
• Phillipi Harbor Club 941-925-3214
• Cannons Marina 941-383-1311
• Longboat Key Club Moorings 941-383-8383
• Midnight Pass Marina 941-349-9449
• Sarasota Yacht Club 941-952-9451

Tortuga Siesta Key

Recently I had the pleasure of spending some time with past clients, Mr. & Mrs. Dabagian.  They purchased their beautiful penthouse at Tortuga condominiums on Siesta Key about 11 years ago.  They had much to say about their satisfaction with their island home and the Sarasota lifestyle.

Five Points Roundabout

This Summer the City of Sarasota will begin the work of installing a roundabout at Five Points on Main Street in Downtown Sarasota.  Additional roundabouts will also be created at the corners of Orange Avenue and Alderman Street and at Ringling Boulevard and Palm Avenue.  The total cost of the three Roundabouts are expected to be $1.5 million.  Fund will come mainly from the Florida State Department of Transportation.  Some funds will also come from sales taxes collected in the City of Sarasota. These improvements to our intersections will make our streets more pedestrian friendly. Possibly more importantly these projects will can be seen as a beautification. Sarasota is already a beautiful place and further improvement and beatification to roads and neighborhood areas is a welcome idea. Take a moment to navigate the embedded maps.

 

 

Mahindra Dealership in Sarasota

Soon an Indian automotive dealership will open on Clark Road next door to the Land Rover Dealership. The new automotive dealership from India is known as Mahindra Motors. The company which is a maker of trucks and SUVs enjoy an 85 percent market share in India. The company hopes that their economical diesel powered vehicles will be hit here in the US. Sarasota will be home to the first US dealership. The company hopes to open hundreds more in the near future.

Siesta Key Condos For Sale

Currently there are 429 condos for sale on Siesta Key ranging from $135,000 to $4,250,000. The average price is $734,665. There are 25 condominium properties under contract at this time. Last year 212 condominium units were sold on Siesta Key at an average selling price of $550,258 was 88% of list price. So far this year 19 condo have been sold Siesta Key. The average selling price of condominium this year to date is $526,810. The highest sale price was $872,500 and the lowest was $195,000.

Sarasota Opera House

Of all Sarasota’s cultural assets, the Opera House truly encompasses downtown Sarasota’s historic and artistic flavor. After a year long, $20 million dollar renovation, the Opera House reopened in February of this year. The project, being donor-funded, was greatly patron supported to keep up Sarasota’s reputation as a fine arts community. The theatre’s 2008 productions include Verdi’s most popular works Rigoletto and I due Foscari, Puccini’s La Rodine, and Mozart’s delicious comedy Cosi fan tutte. Before you hit the box office, take some time to indulge in downtown Sarasota’s Bijou Cafe, Jolly’s Expresso Bar, or Zak’s Steakhouse which are all located right by the House. The Opera House’s convenient proximity and tasteful qualities are just added bonuses to any prospective resident of the downtown area. Just when we thought it wasn’t possible, Sarasota living just got even better. 

For more information visit www.sarasotaopera.org