SRQHomesForSale

Misty Creek, a Golf Course set on a wildlife preserve

2010-11-04T04:44:00.000-07:00

Misty Creek Golf & Country Club is not your average SW Florida Golf & Country Club neighborhood. Take a drive and see for yourself. Located out Bee Ridge Road to the end, past the new Publix, turn right on Bee Ridge Extension. Just a few miles down on the left is the entrance. It is a secured entrance, so if you go on a Sunday, you may get lucky with granted access if you find an open house. Another way of looking at lucky would be to call me so that I can personally introduce you to the home I am marketing for sale. You will be pleasantly surprised. This sunset photo was taken from the backyard patio that overlooks the lake. The home is a sanctuary in and of itself, meticulously maintained and tastefully appointed. As for the championship member-owned golf course, this course is rare because it is set in a wildlife preserve. Virtually every fairway is bordered on one or both sides by dense vegetation and live oaks and you will enjoy spectacular views while hitting your long drive. This is the place to be if you love a quiet and contemplative game of golf.

Misty Creek Country Club is recognized by Audubon International for its environmental excellence, designated as a Certified Audubon Cooperative Sanctuary. Misty Creek Neighborhood has 300 homesites, all built out. Don't make a purchase decision until you have experienced Misty Creek.

September 2010 Real Estate Market

2010-10-14T20:02:00.000-07:00

September 2010 property sales a mirror image of August
September 2010 looked a lot like August 2010 in the Sarasota real estate market, with sales and prices virtually identical to the previous month. In fact, September 2010 was also virtually identical to September 2009 in overall sales and median prices.

Property sales in September 2010 stood at 547 total sales, compared to 567 last month and 554 last September. Prices were also virtually identical. September 2010 saw a median sale price of $155,000 for single family homes and $150,450 for condos. This compares to $154,500 last month and $165,000 last year for single family homes; and $155,000 last month and $162,500 last year for condos. In effect, the market has essentially stood still for 12 months, with minor fluctuations in prices month to month. There was an expected spike in sales experienced during the three months of the federal $8,000 homebuyer tax credit period.

"We've observed a very steady local real estate market for the past 12 months," said 2010 SAR President Erick Shumway, noting the market stability is a welcome trend.

The median sale price for single family homes over the past 12 months was $164,000, and for condos was $169,000. Last year at this time, looking back over the previous 12 months, the median sale price for single family was $165,000, and for condos was $200,000.

There were 404 sales of single family homes in September 2010, compared to 408 last month and 399 in September 2009. There were 553 pending sales last month, which reflect future closing activity. The inventory rose slightly, from 3,887 to 4,007.

Condos saw 143 sales in September 2010, compared to 159 last month and 155 in September 2009. There were 191 pending sales reported in September, slightly lower than last month's 217, but higher than the 185 reported last September.

Distressed condo sales have dragged the overall median price down substantially, with normal arm's length sales garnering three-times as much as bank-owned properties, and twice as much as short sales on average.

Overall pending sales dropped slightly in September to 744 from last month's figure of 816.

"The one factor that continues to be a drag on the median sale prices has been the level of distressed sales," said Shumway. "We continue to have a market heavy on short sales and bank-owned property sales. Once those percentages drop, we should see a return to clear property price appreciation."

The level of sales of distressed properties (foreclosures and short sales) rose in September 2010 to 54.6 percent, from last month's figure of 47 percent. This was the highest percentage since the distressed market began to show dominance locally. Distressed market sales previously reached a high just below 50 percent in late 2009, and have hovered in the range between 44 and 48 percent since that time. The median sale price for distressed sales continues to be less than half as much as for normal arm's length sales - in many cases approaching only a third as much.

The property inventory level has remained fairly consistent for months, hitting 6,163 in September 2010, which remains one of the lowest monthly levels since late summer of 2005.

The months of inventory for single family homes in September 2010 rose to 9.9 months from 9.5 months in August. The figure was 9.8 months in September 2009. This figure represents the number of months it would take to sell all available homes at the current pace. For condos, the figure rose to 15.1 months from 13.5 months in August 2010. It was also at 15.1 months in September 200. Once the market reaches the 6 month level it is considered to be in equilibrium between a buyers and sellers market.

Click HERE for the complete press release in PDF format, plus two pages of statistical charts.

Sarasota Association of REALTORS®

Bird Key | Opportunity Knocks

2010-10-10T08:37:00.000-07:00

Bird Key, Sarasota, Florida.

For anyone interested in the intelligent rules in buying real estate, location, location, location, this is it. Currently, there are 45 homes on the market on Bird Key, out of the 505 that exist on this beautiful island. If you are looking for opportunity, you must check out 533 Bird Key Drive. Currently the lowest list price on the island, priced at $499,000. It is a Garden Home on a spacious lot with a private backyard. Circular driveway, side entry garage. The Bird Key Yacht Club offers tennis, boating, thriving social events and fine dining. St. Armand's Key and Lido Beach are right around the corner and the proximity to downtown make Bird Key an outstanding location in Sarasota. If you are curious about this fabulous opportunity, go to my site: http://www.srqhomesforsale.com/ and check it out!

Palm Aire Golf & Country Club | Welcome to the Villa

2010-10-10T07:56:00.000-07:00

Palm Aire Golf & Country Club is located off University Drive, which is the dividing line between Manatee and Sarasota county. This villa, NOW PRICED AT $199,000, has impressive soaring volume ceilings. The owner of this 3/2 unit is an avid golfer and tennis player and is the original owner who maintained a high level of owner's pride since day one. The Villas of Eagle Creek is a small enclave of 32 villas, set amongst majestic pines and on a quiet culdesac. Enter the home through this ivy-covered archway and inside you will see a split floor plan; ceramic flooring and a screened patio with Mexican tile. The new roof and easy-to-install hurricane fabric panels neatly stored away. A 2-car garage, full laundry room and plenty of storage. Wait ... there's more. The option to join the Palm Aire Country Club, which is private member-owned and ranked among the best in Florida by Golfweek Magazine. Furniture package available, as well as the golf cart! The bonus here is that someone could take over the equity membership in the club for $100. To view details, go by my site: http://www.srqhomesforsale.com/

Promoting Sustainable Home Building in Sarasota

2010-10-09T16:44:00.000-07:00

LOCAL REALTOR® ACHIEVES
NATIONAL ASSOCIATION OF REALTORS® GREEN DESIGNATION

September 2010

Sarasota, FL – Bernadette Caswell of Michael Saunders & Company Main Street office has been awarded the National Association of REALTORS®’ [NAR’s] Green Designation, the only green real estate professional designation recognized by NAR.

Caswell has achieved this prestigious designation after completing 18 hours of course work designed specifically for REALTORS®. The courses were created in collaboration with a multidisciplinary team of industry experts from across the country; ensuring designees gain comprehensive knowledge of green homes and buildings and issues of sustainability in relation to real estate.

More specifically, Caswell was trained in understanding what makes a property green, helping clients evaluate the cost/benefits of green building features and practices, distinguishing between industry rating and classification systems, listing and marketing green homes and buildings, discussing the financial grants and incentives available to homeowners, and helping consumers see a property’s green potential.

“Living green is about making healthy choices that are also easy on your wallet. NAR Green Designees have the necessary resources & relationships to effectively work with you on your next green project.” said Al Medina, Director of NAR’s Green Designation. NAR’s Green Designation was developed in response to growing consumer awareness of the benefits of resource-efficient homes and buildings. The designation helps consumers who care about energy efficiency and sustainable building practices identify REALTORS® who can help them realize their green real estate and lifestyle goals.

As an NAR Green Designee, Caswell has gained the knowledge and the tools necessary to become a trusted green resource for Sarasota. For more information about Bernadette Caswell, please visit http://www.srqhomesforsale.com/ or e-mail bernadettecaswell@michaelsaunders.com.

For more information about NAR’s Green Designation, visit http://www.greenresourcecouncil.org/

Staging to Maximize Marketability of Your Property

2009-07-31T11:20:00.000-07:00

Do you think staging properties will help sell property? Absolutely! I have a great testimony. The property I was marketing, for over a year, belongs to an artist and she had every textile in every color on every wall you could imagine. Remarkable pieces of art. The problem was that it was a distraction. Buyers were looking at her art rather than the property. Michael Saunders & Company has an affiliation with ASID-certified Interior Designers, Stage III Designs and I hired them for the job. Without adding a single piece, they visually transformed the property. They knew what needed to be removed and they master the art of placement. I was a little worried that the owner would be offended, but quite the contrast. She saw her home in a new way - I believe she liked the results.

Within one week, I had an offer on the property and we are marching on to closing. These designers offered an invaluable service during a very challenging market. The amount of money I would have spent on additional marketing was better spent on staging. So, yes, I believe and will do it again when necessary.

History of Mortgage Interest Rates

2009-07-04T10:25:00.000-07:00

Did you buy a home back in 1981? Did you actually pay 18% on your mortgage?! I was thinking back over the years, all the places I have lived and the homes I have owned, specifically: Florida, Kentucky, California - and finally, Sarasota. I came across this chart that shows the history of Mortgage Interest Rates and see the spike back in 1981. It was 1980 that I bought a home in Bradenton, FL and wasn't even phased by the interest rate - we wanted to buy a home and that was it. With the state of the economy what it is today, we can at least appreciate the OPPORTUNITY that exists with the current interest rate, whether we are in a position to jump into the market or not, it's something to appreciate. To me, FOURTH OF JULY is a day to reflect and appreciate. If you are interested in buying or selling a home in the Sarasota area, I'd like to represent YOU. If you're planning to buy or sell in another city, I have the resources to find and connect you with a reputable agent in your area. Call or email me. Michael Saunders & Company, Licensed Real Estate Broker BernadetteCaswell@MichaelSauders.com Cell: 941-320-8265

Renovation Loan Program - Thinking Ahead

2009-06-18T19:36:00.000-07:00

Did you know that there's a "Renovation Loan" program offered through Wells Fargo, allowing buyers to finance the purchase and cost of improvements into the loan amount. This program is ideal for the buyers of REO's or short sales where there tends to be a high incidence of deferred maintenance or obsolescence. Examples of allowable repairs include:

Roofs, gutters, downspouts

HVAC Systems

Plumbing, Electrical systems

Existing flooring

Minor remodeling

Interior and Exterior painting/siding

Weatherization including storm windows, doors, insulation, weather stripping, etc.

Appliances - free standing and built-ins allowed

Handicapped Accessibility

Mold remediation

Repair/replace exterior patio/porch

Septic and well systems/repair and replace

Fencing (no, this is not your "martial arts" training)

There are some "ineligible work items", however.

We are also talking about FHA loans ($442,500) and the maximum renovation cost allowed to borrow is $35,000 and it MUST be a primary residence. I did the math and realize that the cost of using this money, rolled into the mortgage is definitely economical. If you want to discuss further, I would be happy to share what I know and turn you over to the most trusted Wells Fargo Rep I know.

Rates on 30-year Mortgages up slightly

2009-05-18T13:30:00.000-07:00

Interest rates on a 30 year-fixed mortgage are still below the 5% mark, but rose slightly for the 2nd straight week. To read more on this story, click here: http://www.floridarealtors.org/NewsAndEvents/N1-051509.cfm

As an agent with Michael Saunders & Company, I have the pleasure of working closely with Harry Fager, who is a private mortgage banker with MSC Mortgage, an affiliate of Wells Fargo. My experience of working with Harry is that he is extremely responsive and reliable. For anyone shopping for a loan, I suggest going to www.mscmortgage.com to start the process and then contact Harry.

Visit Sarasota

2009-03-25T14:48:00.000-07:00

Sarasota...on Florida's Southwest Gulf Coast

Why Visit Sarasota

Well of course, it's the Cultural Capital of Florida and Sarasota offers some of the best-of-the-best in live performance, music, ballet, theatre, film, and graphic mediums from sculpture and paintings, to photography and jewelry.

Florida Fact: Founded in 1949, the Florida West Coast Symphony has the distinction of being the oldest continuing orchestra in the State of Florida.

Not only are the culture offerings outstanding, Sarasota offers an abundance in Life Quality. Weather that is near perfect, year-round, golf, tennis, boating, hiking, canoeing or rollerblading....your choices are beyond compare.

Don’t Miss Siesta Key Beach
Sarasota offers an expressive chain of barrier islands, featuring some of the Best Beaches anywhere. World renowned and award-winning Siesta Key Beach attracts residents and visitors alike to its powdery white sand and calm azure Gulf waters.

The Legacy Trail
The origin of The Legacy Trail dates back to 1911, when it was the hub of transportation in Southwest Florida. Carrying soldiers and circus folk, the rail line eventual closed in 1971. This area has been resurrected as a recreation location, with an amazing 12-mile paved trail to bike, or walk. Abundant natural surroundings and local history accompany you from Sarasota to Venice. More information is available scgov.net/legacytrail.

WINDOW SHOPPING ON ST. ARMAND'S CIRCLE

2008-12-04T18:22:00.000-08:00

LOOK NO FURTHER THAN ST. ARMAND'S CIRCLE , a compact shopping and dining paradise. The Circle, we locals refer to it as, is brimming with everything from chic designer apparel to timeless classic brands. Exquisite jewelry, art galleries and some of the best fudge you will ever taste. To fully appreciate the extraordinary selection, you will want to step inside, and many of the shops are open until 9:30. The master planners of The Circle were clever enough to strategically place comfortable benches for the patient ones who would rather sit and watch the action than shop. Don't let lack of parking keep you from coming out to the circle, valet will happily park your car for you, though rarely necessary. No matter what time of day or what calendar day of the year, it's always bustling with action and smiling friendly faces.

Farmer's Market Downtown Sarasota

2008-11-24T08:49:00.001-08:00

Sarasota's Downtown Farmer's Market on a bright and sunny Saturday morning definitely excites the senses. Between the scent of candles, the texture of the woodworker's products, the sound of musicians, the organically grown produce and the fury little four legged pooches - it is a wonderful way to start the day.

Always in search of a great photo to share some of the local color, here you have it. There's nothing like fresh tomatoes.

2008-10-31T09:07:00.000-07:00

Weekly Mortgage Applications Survey for the week ending October 3 showed an increase of 2.2 percent over the previous week. So there must still be some optimists out there who believe the credit crunch will end in time for them to get a loan.
The Market Composite Index, a measure of mortgage loan application volume, was 465.5, an increase of 2.2 percent on a seasonally adjusted basis from 455.4 one week earlier. On an unadjusted basis, the Index increased 2.2 percent compared with the previous week and was down 28.6 percent compared with the same week one year earlier.
The average contract interest rate for 30-year fixed-rate mortgages decreased to 5.99 percent from 6.07 percent, with points decreasing to 1.09 from 1.12 (including the origination fee) for 80 percent loan-to-value (LTV) ratio loans.