Sarasota Real Estate Sales Headed in the Right Direction

According to the latest reports and statistics from the Sarasota real estate listings data, sales in this area are headed in the right place: up! Just last week the Today Show’s Barbara Corcoran named Sarasota as the No. 1 Best Place to Buy a Home in the United States. The Sarasota real estate market was hit hard in the last few years with prices coming down a whopping 33% last year but now are up by 13% in the last few months. The median price for a home is now $179,000. Sarasota seems to have stabilized with low interest rates, a great selection of inventory providing buyers excellent choices of Sarasota real estate.
There are homes for sale in Sarasota to suit almost every lifestyle and budget. The equestrian can choose from a fabulous section of acreage, farms or ranches. The golf enthusiast can find a home on a beautiful lagoon overlooking a peaceful fairway in one of Sarasota’s premier gated country clubs. Buyers of beachfront property will be certainly surprised to see that they can purchase a luxury condominium on the Gulf of Mexico at a price far below the prices of previous years. In downtown Sarasota, urban lifestyles are conveniently offering buyers amenities of luxury resorts without leaving their condominium. Walking neighborhoods are popular in downtown as well as Sarasota’s West of the Trail are near Sarasota Memorial Hospital.
With all these lifestyle choices including beach, golf course and downtown Sarasota real estate, Sarasota will remain in the news as the area continues its recovery! Make sure you are searching for your Sarasota home before you are priced out of the market.

Sellers Are Dropping the Prices on Luxury Sarasota Real Estate

High-end sales of Sarasota real estate have lagged similar to the national trend. Even Hugh Hefner took a big price reduction when he recently sold his California home. Many Sarasota sellers are getting the message and finally reducing prices causing the market to see some activity.
In Sarasota, Florida two recent sales gave estate sellers a boost in confidence that the high-end market is rebounding in this area. According to Sarasota MLS records, the recent sale in Lido Shores was originally listed at $11,000,000. It sold for 7,423,500 or 67% of original price.
Casey Key homes for sale have demanded top prices for many years. The home at 1538 North Casey Key Road recently sold for $6,200,000 (adjacent parcel included with the original listing was sold off in 2008 for $3,797,500). The listing was originally priced at a whopping $20,035,000. Both properties were on the market for several years.
Sarasota Florida waterfront real estate has been prime real estate for decades. Luxury home buyers have pursued properties in Sarasota largely because of the beautiful beaches and warm weather. Sarasota brings culture into the picture too. The cultural venues of this delightful city include an opera, ballet and symphony. The downtown area of Sarasota is a place to enjoy shopping, dining and professional services as well as Sarasota’s fabulous Bayfront Park. The Sarasota lifestyle is the best!
If you are interested in receiving any information on Sarasota real estate, head over to BuySarasota.com to start your search. We regularly show all Sarasota barrier islands of Casey Key, Siesta Key, Bird Key, Lido Key and Longboat Key as well as the mainland Sarasota.

Sarasota Mortgage and First Time Home Buyer Tax Credit Update

Bruce Garlitz of HomeBanc just emailed to us let everyone you know that 30 year fixed conventional rates are now between 5.25% and 5.375% depending on the day. FHA rates have been between 5.375% and 5.5% depending on the day. The US government is still offering the $8,000.00 federal housing tax credit to 1st time home buyers.

Qualifications for $8,000 tax credit:

• Must purchase a home (close and receive title) between January 1, 2009 and December 1, 2009.
• Must be a first-time home buyer, which means you cannot have owned a home for the previous three years prior to purchase.
• The home must be a primary residence, cannot be used as a vacation home or rental property.
• Home can not be purchased from a close relative such as your spouse, parent, grandparent, child or grandchild.
• Buyers must make less than $75,000 for a single taxpayer or less than $150,000, if filing jointly.

For more information on the tax credit, visit the IRS page First-Time Homebuyer Credit Questions and Answers: Homes Purchased in 2009.
Contact us today for more information, or visit our award-winning Sarasota real estate website where you view detailed information on the hundreds of communities in the area and search thousands of MLS listings.

Bird Key Homes for Sale – Sarasota MLS Update

Our report on Bird Key homes for sale is often posted quarterly, but since this community is quite active we are providing an update. Our April 28, 2009 post reported 44 homes for sale on Bird Key. Read our Poston the Bird Key real estate market update in the April report. This month there are 39 Bird Key properties currently available in the Sarasota MLS.


Bird Key’s winding deep canals lead to open waters and provide a Paradise for boaters. Located between St. Armands Circle and downtown Sarasota, boaters have easy access to Sarasota Bay and the Gulf of Mexico. Many homes on Bird Key have their own dock or owners use the active Yacht Club to moor their vessels.

Buyers of Bird Key Homes can choose from old Florida style ranch and plan to redo to fit their own lifestyle or select a mini mansions with custom fishes created for the luxury buyer. Many older homes were replaced in the last several years on this popular Key. There are over 500 homes in this enclave, and buyers can select from the 39 active listings of homes for sale in the Sarasota MLS. Bird Key continues to be an active area of Sarasota for single family sales as the statistics show:

Bird Key Home Sales Update:

• Least Expensive Home: $451,000


• Most Expensive Home: $6,800,000


• Average Home Price: $2,180,397


• Median Home Price: $1,775,000


• Under Contract: 19


• *Solds: 18

For additional news and information on Bird Key real estate sales, contact John Allen at 941-544-6467. John knows waterfront properties and has the experience to guide you to a successful purchase of a home on Bird Key. If you are planning to view homes for sale on Bird Key, please give us plenty of notice as our calendars fill quickly. Owners and agents need time to make their arrangements also.

*Homes sold in the last 6 months on Bird Key, according to the Sarasota MLS database.

St Armands Cirlcle: Cork Restaurant

If you have a home or condo on Lido Key, Longboat Key or Bird Key, chances are you’ve been to Cork on St Armands Circle. Cork is one of the new bright spots on the Circle and quite popular with many locals. Sarasota magazine recently named Cork the "Best New Restaurant." Jeff Trefry, Executive Chef, adds his experience and culinary gifts to bring metropolitan cuisine to Sarasotans palates.


If you're in the mood of fish, try the seared mahi fillet with celery root puree. It’s a hit and a favorite of many diners. Located at 29 N. Boulevard of the Presidents on St. Armands Circle, Cork is just above the Bottle Shop.

St. Armands’s has many popular restaurants, but Cork Restaurant is exceptional. Buy a bottle of great wine to enjoy at home from the Bottle Shop on your way back to your Longboat Key home! If you can’t get a table at Cork, try Columbia, Hemingway’s Retreat or the always popular Columbia Restaurant.

For information on St Armands Key real estate for sale or properties on Longboat Key, Lido Key or Bird Key, contact John Allen at 941-544-6467. John shows waterfront properties regularly on all of Sarasota’s barrier islands.

More Good Sarasota Real Estate News

Sarasota real estate got some more good news this week. The Herald Tribune reported a $6,000 rise in the median price of homes in Sarasota-Bradenton in March from February figures. Sales rose 8% from a year ago. Read entire article.

We noted in several blog articles since the first of the year that our web traffic and showing are up. Inventory levels have gone down. Sale pendings are following the upward trend too. Foreclosures and short sales are popular right now, but there are some fabulous buys out there in properties that are not distressed too. Sellers who are realistic are making deals and buyers are taking advantage of a brisk buyers’ market.

Contact us today to help with your Sarasota Florida real estate needs or shoot us an email for a prompt reply.