A perceptible shift has happened to the Sarasota real estate market thus far in 2013; prices rising and inventories are low bringing in a “seller's market”.
While still nothing at all like the fevered , cheap money buying spree that sent things into a tailspin, the market has definitely become favorable for sellers. Many Bradenton and Sarasota area realtors are reporting multiple offers and with a limited amount of inventory, competition for for buyers has been increasing. It seems to some unbelievable that we could shift from such a deep decline in housing to once again a n active and rising real estate market so quickly, but along with the Sarasota area's long list of amenities that offer a uniquely attractive location, several demographic changes are also working in our favor.
Chief among those demographic forces working to heat up the market is the Baby Boomer generation coming to retirement age. In fact the numbers are staggering, nearly 10,000 baby boomers are moving into retirement every day. Of course with Sarasota's wonderful charms and the comparatively higher tax rate of many northern states, it's no wonder why so many are looking into Sarasota and Manatee counties for retirement.
Adding to that influx... ...read full post
Marty Haines was presented with the RE/MAX 100% Club Award at a RE/MAX Alliance Group award ceremony held recently. The 100% Club is an international award level recognizing associates who have earned between $100,000 and $249,999 in gross commissions during the preceding calendar year.
In addition, Haines received a certificate for graduating from Buffini & Company’s Peak Producers 12-week training program and was presented with the RE/MAX Alliance Group Spirit Award for demonstrating support to RE/MAX Alliance Group and the community through participation, leadership and service to others.... ...read full post
Real estate sales continued to increase, with December sales rising 8.1% in Sarasota County
and 6% in Manatee County compared to November.
In Sarasota County, the median sold price was $165,000, which was 6.5% above
November’s price, and 21.8% above last December’s price of $135,500. In Manatee
County, the median sold price was $164,900, 3.7% above the previous month and 9.9%
above last December’s price of $150,000.
The trend throughout 2012 has been very consistent and pointing toward a market in full
recovery mode. Inventory has significantly decreased, demand is steadily increasing, houses
are staying on the market for less time and prices are increasing. While the percentages may... ...read full post
Across southwest Florida the real estate
market continues to improve even during November, traditionally a slower month. With a declining a declining supply of homes for sale and fewer foreclosures destabilizing prices, home values in the Sarasota – Bradenton area continued to increase.
While home sales were only 2 points from October, with 1,119 homes sold, sales were up full 25% from the previous year!
Amazingly Southwest Florida is having the fourth highest year in nine decades. However the recession left such a deep depression in home prices – prices declined almost 60% at the deepest point – that normal market conditions may not completely return for while longer. In fact, if inventory continues to fall, economists say the lack of properties may have a slight negative affect for a time.
"The numbers reflect a market that has been recovering the past 18 months," said Peter Crowley
, broker and co-owner of Re/Max Alliance Group in Sarasota and Bradenton. "The consistency is there now to look back and see we made steady improvements in both sales and prices."
A number of factors have contributed to the strong real estate activity. Many retirement age home buyers had put off making a real... ...read full post
Remax Alliance Group jump starts Goodwill Industries Manasota Inc.'s
effort to employ 50 war veterans this year. After giving so much for their country many, Bradenton and Sarasota area vets have returned home to a tough job market. Even with the local real estate
markets showing continued month over month improvement, the job market is still weak.
To help give back to the vets retuning from harms way RE/MAX alliance group has donated $10,000 in seed money to help kick off the non-profit jobs initiative. The donation caught the attention of JPMorgan Chase who has contributed another $25,000 to the effort. The donations will allow this important initiative to be funded throughout 2013.
The job market has been especially tough on returning vets who have returned from tours overseas to find an unemployment rate in 2012 of 12.1%. It's been even tougher for younger vets. For veterans aged 18 to 24, the joblessness rate was even at nearly 30 percent. While the unemployment rate for vets has begun to decline slightly as of late, many vets also face other personal challenges after years of re-deployment.
Goodwill recognized the difficulties facing returning vets and began the "American Veterans and Their... ...read full post
The overall trend of shrinking inventory and steady demand continues. Inventory shrank 2.3% in Sarasota County and 4.6% in Manatee County over the previous month, with a year-over-year drop of 24.8% and 20.9% respectively.
The fairly consistent drop in pending activity across the market reflects the momentary pause in buyer activity due to the holidays. Compared to last year, both sold and pending activity is far ahead, which signals an even healthier buying season for 2013.
The number of homes sold increased 4.7% in Sarasota County and 8.3% in Manatee County over the previous month, with a year-over-year increase of 18.7% and 35.4% respectively. Pending sales increased 18.8% in Sarasota County and 42% in Manatee County compared to last year.... ...read full post
Sarasota Real Estate Agents Larry and Jill Johns of RE/ MAX Alliance Group helped spread cheer and good tidings this Thanksgiving by delivering over seventy delicious holiday dinners to needy families across the Sarasota area. The food which came from donations to Sweetbay store in Sarasota, needed to be delivered across the county and Larry and Jill stepped up to make sure it would be enjoyed by those
who needed a little help this year.
“Sarasota is an exceptional area, now that the are is recovering from the downturn, being able to give back and help people during the holidays is very rewarding
” said Johns.
About Larry and Jill Johns.
Larry and Jill's mission and their commitment to each and every customer is to deliver a concierge-level of service, combined with in-depth knowledge and expertise of the Sarasota real estate market. Prior to entering the real estate profession, Larry was in the retail field and excelled both at the management and customer-focused levels. Jill was involved in the interior design field as an Owner and Design Principal of her own company. Both fields have complimented their transition into... ...read full post
Real Estate Season Begins Earlier Than Usual Trends continue to show a real estate market in recovery, as declining inventories combine with a steady increase in demand to drive up home prices. The typical slowdown before an election did not occur this year, with pending sales continuing to rise in almost every area of our market. Pending sales were up 33.4% in Sarasota County and 6.4% in Manatee County from September to October, with year over year increases of 41.4% and 60.5% respectively. The median sold price rose 31.1% in Sarasota County and 16.8% in Manatee County compared to the same time last year. Months supply of inventory continued to decline, dropping 52.4% in Sarasota County and 55.1% in Manatee County year over year.... ...read full post
While not widely known it's not news that locally our housing prices have been gradually going up for about a year. However it seems that nationally we have turned a corner in the housing market. This conclusion comes from the S&P/Case-Shiller home price index in which the August report showed the average home price for 20 major cities jumped 0.9%.
This market the 5th consecutive increase in home prices, with all but one of the cities (Seattle) having month over month price increases.
S&P spokesman had this to say about the recent positive report, "The sustained good news in home prices over the past five months makes us optimistic for continued recovery in the housing market"
This is just on report indicating a healthier housing market and an indication that we may be in for additional positive trends in the national housing market. In some markets builders have increased activity with new housing starts on the rise
The Case-Shiller report is one of many gauges of housing market health that has turned upbeat in recent months. New and existing home... ...read full post
Alliance Group Property Management (AGPM) has recently opened to provide a full suite of residential property management services
AGPM will provide first-class property management services throughout Sarasota, Manatee and Charlotte counties. The company will manage rentals in all price ranges, including single-family homes, condominiums, villas, townhomes and investment properties. Both owners and tenants will benefit from a unique combination of top quality property managers coupled with state-of-the-art technology to allow for complete online access to monthly statements, vendor repair requests and much more.
“Despite the recent challenges experienced by the housing industry, the rental market in the Southwest Florida area has never been stronger,” said Peter Crowley, President and Co-owner of AGPM. “We feel confident in our formula of a commitment to customer service and providing our property managers with the best tools to perform their roles.”
AGPM is proud to introduce its team of property managers: Stevie Krumm (Sarasota), Chris Moon (Sarasota and South County), Bill Davis (East Manatee) and Michael Giordano (Anna Maria and West Bradenton). AGPM will operate from select RE/MAX
Alliance Group offices in Sarasota, Manatee and Charlotte counties. For more information, please call Karen Cox at (941) 308-4343. Website: alliancegrouprentals.com.... ...read full post