Sarasota FL Real Estate Blog

Cash Investors Predicted To Rule Sarasota Residential Market In 2013

Investors coming into any real estate market with cold-hard cash in their pockets will always be preferred over buyers working with bank loans. Studies show that more prominent individuals armed with money – rather than loan documents – are becoming noticeable in the Sarasota residential market, and are likely to stick around for the start of next year.


Firms in the industry predict that the competition amongst buyers is going to be stiffer in the preliminary quarters of 2013, especially after considering the notable increase of big-time investors searching for distressed residential properties. Bidding is also likely to go in favor of those coming to the auction with cash in their pockets, despite the fact that some competitors – backed by bank financing – are capable of bidding higher....

Sarasota Real Estate Market Sales Finishes Strong in 2012

Real estate companies with Sarasota portfolios couldn’t be any happier with current market conditions, as the local industry seems to be heading towards a more positive direction, which could very well continue during the start of 2013 and beyond. According to studies, the combined pending homes sales of the Sarasota, Manatee and Charlotte counties have increased by 23.7 percent this October from the previous month.


Sarasota’s pending sales came in strong for the fourth quarter, as a 33.4 percent increase was noted for the month. The spike becomes even bigger at 41.4 per cent when compared to statistics gathered during October of 2011.

Meanwhile, the US index, which gauges the number of individuals who’ve signed contracts for residence...

Worst Home Improvement Projects to Invest In

island-house_11_640When it comes to home improvement projects, people tend to move forward with a project usually for one of two reasons: to fulfill a desire and to personally enjoy the renovation, or to improve the home's resale value. If your home improvement objective falls into the latter then it’s probably best to avoid the following projects:

1. Swimming Pools

Swimming pools can become astronomically expensive and take much time to install, plus they require constant maintenance. This home improvement choice may actually deter buyers from purchasing your otherwise desirable home as families may view the pool as a safety hazard to young children, while other homebuyers may not want to sacrifice lawn space for it. Bottom line: the ROI for...

Sarasota Rental Costs Rising - Could It Soon Be Cheaper To Own a Home Than Rent?

The rising cost of renting a home in the Sarasota area has further enhanced the city’s status as one of Florida’s best performing real estate markets of late, conversely having the effect of making homes in the area more affordable to those looking to buy a property, according to a survey out by Trulia.


The San Francisco-based real estate listings company reported that Sarasota, Florida, now tops the list of metro areas in the USA registering the biggest increases in rental costs. The study, which looked at a 12 month period through to March of this year, revealed that Sarasota’s average rent rose by almost 13% compared to March 2011. This is a bigger increase even than Miami, the state’s biggest real...

Sarasota Residential Market Recovery Backed By Sales Statistics

Things seem to be getting brighter for Sarasota’s housing industry, as recent statistics show that the market is undergoing intense recovery, thanks to a notable increase in sales accredited to a rise in demand, coupled with a decrease of inventory.

Studies show that a total of 648 houses were sold last September, denoting an impressive fourteen percent increase from the 570 properties sold during last year of the same month. Moreover, times when sales undergo a decline – like during the period of summer – turned out much better than what everyone was expecting.


Sarasota realtors and sellers point out that there is a notably greater homebuyer traffic being directed towards open houses as compared to last year. In addition, they’ve actually received even more offers this 2012,...

Lack Of Housing Inventory Propels Sarasota’s Construction Industry Recovery

Sarasota’s traditionally busy winter selling season is kicking off earlier than usual this year, thanks to an unusually high demand and reduced inventory which meant that, unlike most previous years, the city didn’t see a pre-holiday season lull in sales activity.

Sarasota real estate experts say that as a result, pending sales in the area continue to grow, rising by an astonishing 33.4% in the county and by 6.4% in neighboring Manatee County, from September to October, whilst year-on-year increases of 41.4% and 60.5% respectively were also recorded.

The situation is highly unusual in Sarasota, where prospective buyers traditionally wait until the end of the school term before buying a home and moving. Consequently, we often experience a lull in buying activity from Thanksgiving, lasting up until the beginning of the holiday period.

However, something unusual has happened, with local markets being afflicted by a serious lack of inventory for the...

Bank’s Main Street Buildings Sold To Developer Christopher Brown

Companies managed by Osprey developer Christopher Brown recently purchased a retail plaza and 24,336 square foot office building in downtown Sarasota from the MFC Company Inc., which is a subsidiary of Northern Trust Bank.


Both properties, located at 1718 and 1734 Main Street, were sold in an all-cash deal amounting to $2.8 million. Research shows that the MFC seized these developments from Joseph A. Costello Sr. – who had paid $3.36 million to acquire – back in August.

Brown’s move to purchase the buildings, which currently have an occupancy rate of only 63 percent, was stimulated by the renewed growing interest in Sarasota’s downtown commercial properties, specifically for use as sites for soon-to-rise developments.