Sarasota Real Estate Blog 
Sarasota Market Shows 30% Drop in Short Sales
Wednesday, April 11th, 2012 at 10:15am. 11 Views, 0 Comments.
The number of properties on the Sarasota Multiple Listing Service that are listed as short sales continues to drop. In November there were 353 properties listed as short sales. As of April, there are only 244. That is a 30% decline!
As I have been writing for the last 18 months, the doomsdayers who are predicting a flood of foreclosures and short sales continue to be wrong! Having followed the foreclosure market closely for the last 4 years I knew the number of distressed properties in Sarasota was on the decline. But "experts" keep saying that a flood of distressed properties is just around the corner. After hearing this for four years I think it is time to say we have turned the corner! And the view from there is bright.
I set up a search map in…
SARASOTA SHORT SALES ON MARKET CONTINUE TO DROP
Wednesday, February 22nd, 2012 at 9:19am. 15 Views, 0 Comments.
Another month has gone by and the number of properties on the Sarasota market that are short sales continue to dwindle. When I started tracking the Sarasota market back in early November there were 353 properties listed for short sale. Each month that number has gone down and early in February it was down to 289, an 18% decline.
Foreclosures started at 96 properties in November and went down slightly to 84 then went to 94 and was 102 in early February. But hardly the huge surge that has been predicted for the last 2-3 years. The increase epresents a 6% uptick in 3 months.
I am especially surprised by the fall in short sales. One would expect that with so many homeowners behind on their mortgage we would see a big increase rather than a decline. Once…
SARASOTA SHORT SALES & FORECLOSURES YET TO EXPLODE
Monday, January 23rd, 2012 at 1:03pm. 18 Views, 0 Comments.
Just checking in to update everyone on the increase (or decrease) of shorts sales and bank-owned properties in Sarasota. I have been keeping a detailed record as of the 10th of each month, starting last November. This was in response to all I hear & read about in the media that we will soon be seeing a "flood" of bank-owned properties onto the market.
I have been hearing this for 3 years now and have yet to see it happen. But if people keep saying it, it has to be true - right? So I decided to set up a geographic search area (basically the Sarasota area, from University Parkway to Nokomis) and check the numbers each month on the 10th.
So far I have statistics for November, December & January. The results show the number of bank-owned properties has…
SARASOTA SHOWS STRONG SALES & STABLE PRICES IN 2011
Thursday, January 12th, 2012 at 9:29am. 22 Views, 0 Comments.
Sarasota Property sales up 8.2 percent for full year 2011; Prices stable - Good News!
For the full year 2011, property sales of members of the Sarasota Association of Realtors® jumped by 8.2 percent to 8,224, achieving the highest level since 2005. The surge in sales was accompanied by stabilization in the median sale prices, which now stand at $155,925 for single family homes and $156,800 for condos over the full year, and have not fluctuated much for the past 12 months.
Once again, the market has demonstrated that Sarasota is a destination of choice for many homebuyers. For the overall year of 2011, the resurgence in sales was dramatic, and represents a 44 percent increase over the low point of the downturn in 2008, when only 5,820…
November Sales Statistics for Sarasota Continue To Impress
Sunday, December 18th, 2011 at 11:24am. 22 Views, 0 Comments.
Below is the latest press release from the Sarasota Association of Realtors. It looks at the latest sales figures for single family homes and condos in Sarasota County for November.
Onca again, numbers are up pretty much across the board, indicating once again our area appears to have hit bottom and is now in recovery mode.
"SARASOTA ASSOCIATION OF REALTORS - NOVEMBER SALE STATISTICS"
November 2011 sales up 12.7 percent over last year
November 2011 property transactions in the Sarasota real estate market totaled 602, up 12.7 percent over last November. The total also exceeded the October 2011 sales figure of 577. The market has remained strong and stable as the winter season gets into full swing, reflecting continued confidence in Sarasota as a…
Tracking Sarasota Short Sales and Foreclosures
Wednesday, December 14th, 2011 at 1:36pm. 25 Views, 0 Comments.
Just like everybody else who reads the paper or listens to the news, I keep hearing about ALL the foreclosures that are going to be flooding the market when the banks decide to finally release them.
The only problem is, I've been hearing and reading this for the last two and a half years. In the meantime, I watch the available inventory of bank-owned & short sale homes & condos continue to drop! But every month it is the same tune - "yes, short sales & bank-owned properties are decreasing in availablity, but just wait until the banks open the floodgates!"
So I am now keeping copious records on the numbers. On the tenth of every month I am recording the total number of short sale properties there are at that time on the market as well as the number of…
CORRECTLY PRICING A SHORT SALE
Thursday, November 17th, 2011 at 12:34pm. 33 Views, 0 Comments.
If you’ve listed your home for sale in the past, you’ve already heard this: It must be listed at the correct price in today’s market.
That means the agent you choose must have a thorough knowledge of the market in your neighborhood. He or she must also have the skills to prepare a market analysis based on viewing your home and the homes used for comparison.
Your experienced agent will also know how to position your home within the price parameters that the market analysis suggests – so that offers will come quickly and your short sale can be closed before the bank decides to take action on a foreclosure.
A too-high price will mean fewer showings and no offers. A too-low price will bring offers, but those offers will meet with…
SOLUTIONS FOR YOUR MORTGAGE CRISIS
Tuesday, November 8th, 2011 at 1:06pm. 41 Views, 0 Comments.
Are you in financial distress because of your mortgage? Do you need to get out from under a payment that has become too hard to manage - but can’t sell your house because it is no longer worth enough to cover the mortgage balance? If so, you are certainly not alone. Hundreds of thousands of other Americans are in that leaky boat with you, and there’s no easy way out. But you do have choices, and you should take a look at all of them before deciding what to do. You can: · Hope for a loan modification · File bankruptcy · Let the bank foreclose, or · Attempt a short sale. A loan modification sounds the best, but the rules the banks are playing by are both confusing and conflicting.…
LIST PRICES UP SIGNIFICANTLY IN SARASOTA OVER 2010
Friday, November 4th, 2011 at 7:59am. 52 Views, 0 Comments.
Below is an article that appeared in the Daily Real Estate News in late September.
15 Cities Where Listing Prices Are Rebounding
Daily Real Estate News | Friday, September 23, 2011Prices are rising in Florida: Florida cities have had the largest year-over-year increases in average list prices, according to the latest real estate data from Realtor.com. Florida cities make up 9 of the top 10 places for highest year-over-year list price spikes, based off of August data of 2.2 million listings in 146 markets.
Nationwide, the average list price is $320,325, up 2.36 percent year-over-year.
Here are the top 15 cities boasting the highest percentage of year-over-year increases in average list prices.
1. Miami
Average list price:…
SELLERS - HERE ARE 3 THINGS YOU DO THAT TURN BUYERS OFF!
Saturday, October 29th, 2011 at 9:51am. 45 Views, 0 Comments.
3 Things That Turn Buyers Off 1) Stalker Sellers You may think you’re being helpful walking the buyer through your home and pointing out the wagon-wheel light fixture you made with your own two hands, the custom mural of a stingray you paid top dollar to have painted across your living room wall or the delightful sounds of happy schoolchildren running across the front yard.
Unfortunately, the buyers might be trying really hard to ignore, minimize or
figure out how to undo the very features of your home you hold dear.
They also may want or need to have personal space and conversations with
their mate or their agent while they’re viewing your home.…