Housing Slowdown May Be Over

Signs Could be Pointing to A Return to Normal

In the past few weeks, buyers have been emailing asking for more information on Sarasota Real Estate than in the last few months. From all outward signs, there could be a return to normal soon for the national market.

In Sarasota, according to an article in last week's Herald Tribune, buyers in this area, not willing to chance that prices are going up, are stepping up to the plate and purchasing. Price have been slashed by sellers, some even willing to take loses to move forward.

If you think now is the time to start your search for a downtown Sarasota condo or a Sarasota home, email Annette Smith for updates on properties in Sarasota FL or make an appointment to be added to our showing schedule prior to your arrival in Sarasota.

Sarasota Marathon

Sarasota Marathon - Race with a View

In 2003, I was introduced to the Ironman competition when my son, Bill, called and said "pack your bags; we're going to Hawaii to watch Frank finish the Ironman. Frank, being Bill's former roommate from Washington DC, whom we have known since he attended WVU is quite the adventurer. He looked at a little Sarasota real estate last year while in town for the 2006 Sarasota Marathon.

In 2003, Frank dreamed of his father, a World War II veteran, being at the finish line of the famed Ironman in Kona, HI (he was), and then later that year of accompanying his father at the dedication of the new World War II Memorial (he did). George Fumich, Frank's father, taught him to set his lofty goals and to "never give up" to achieve them. George now rests in Arlington National Cemetery after a full military recognition, and Frank continues to strive for even higher goals.

Yesterday I got an email from Frank stating he will kick off 2007 on January 9 by flying to Argentina to attempt to climb Mt. Aconcagua, located in the Argentine-Chilean Central Andes. Ackon Cahuak, or "Stone Sentinel," one of the Seven Summits (the highest mountain in South America) rises majestically to 23,000 feet and is the highest mountain in the world outside the Himalayas. Frank expects this to be his hardest challenge yet, and since he's completed Ironmans, run 135 miles through Death Valley, 140 miles through the Sahara, climbed the highest mountains on two other continents (Africa and Europe), and recently married his beautiful, Chelsea, we'll be following along for the 14 day climb. 

When you set your goals for 2007, why not register for the 2007 Sarasota Marathon. Frank talks of the view he will see at his finish in Argentina. Our marathon doesn't take 14 days, and you don't have to go as far; yet the Sarasota Marathon does have an incredible view. This year's race will draw 3000+ runners and is sponsored by ABC 7. Mayor Ed Atkins is the Honorary Chairman.

If your 2007 goal is to search for Sarasota waterfront property with a view, contact Annette Smith at 941-504-3922 or send an email with your real estate goals.

The Lake Club at Lakewood Ranch

The Lake Club - Golf Course Community

Next 10 New Home Sites

Every homesite in the Lake Club offers spectacular views of water, preserves, exquisite landscaping in its 1,500 acres. A $10,000 deposit is required to reserve a home site.

Phase I

Park Lots from $187,000-$273,000
Meadow Lots from $212,000-$329,000
Manor Lots from $373,000-$504,000
Estate Lots from $369,000-$959,000
Plantation Lots from $707,000-$1,300,000

If you are ready to purchase Sarasota Real Estate, check out homes for sale in the many golf communities of Lakewood Ranch. The new Lake Club development at Lakewood Ranch is taking reservations.

For more details and information about Lakewood Ranch homes, give Annette a call at 941-504-3922 or send an email to annette@annettesellssarasota.com with Lakewood Ranch or Lake Club in the subject line.

New Downtown Sarasota Condo

Marquee on the Bay Now Taking Reservations


Notification of new 1800-2800 sq.ft. floorplans available at Marquee on the Bay have arrived. Reservations are now being accepted for this new Sarasota condo on the downtown bayfront across from Marina Jack's at the corner of Gulf Stream and Main. There are 10 remaining residences available from 1800-5000 sq.ft. with prices starting in the $1 millions.

Panoramic views of the bay, marina and city, along with heated swimming pool and spa overlooking Sarasota Bay highlight Marquee on the Bay. Other features are its fully equpped fitness center and 24 hr valet and concierge/doorman service.

If you think now is the time to start your search for a downtown Sarasota condo or a Sarasota home, email Annette Smith for updates on properties in Sarasota FL or to make an appointment to view floorplans and amenities at the Marquee's Design Center.

Sarasota Real Estate Sales

Sales Figures for October Indicate "Orderly Decline"

From the statistics gathered by the Sarasota Association of REALTORS MLS in November 2006, existing home sales in our market and nationwide are showing stablization.

The Sarasota MLS stats show 5,623 single-family homes and condos have sold year to date through October 31, 2006. These figures are closer to the sales figures for the same period in 2001 and 2002. The boom years of 2003, 2004 and 2005 produced sales of almost 10,000 per year. These figures tend to skew the results when comparing this year with the previous three years.

Prices are stablizing along with sales as the median price single-family home is now $345,000 year-to-date through October. This is a drop of only 1.4 percent. The median Sarasota condo sale price for the same period was $300,000, an increase of almost 2 percent from the $295,000 median price of 2005.

NAR's chief economist, David Lereah, says "when consumers recognize that home sales are stablilizing, we'll see the buyers who've been on the sidelines get back into the market, and sales will be at more normal levels in the wake of the unsustainable boom that we saw last year."

If you think now is the time to start your search for Sarasota homes or Sarasota condominiums, email Annette Smith for updates on properties in Sarasota.

Preconstruction Downtown Sarasota Condos

City Place Preview



Several years ago, I met Monica Waterman in an advanced mentoring class provided by our previous Sarasota real estate company. Monica moved on to Michael Saunders & Company and I moved to RE/MAX Properties. I had the pleasure this week of viewing Monica's presentation and tour of yet another new condo in Sarasota: City Place. Wow! What an excellent job -- kudos to Monica. You must go see what's in store for downtown Sarasota living and shopping. If you like
100 Central, you will love City Place!

City Place is in the heart of downtown at Pineapple Square. Theaters, restaurants, shopping, cultural attractions are at your doorstep. Whole Foods Market is just half a block away, and the white sand beaches are minutes from downtown as well as St. Armands Circle, Ringling Museum of Art and the Sarasota airport.

Building amenities feature a large gathering room with bar, fireplace and flat screen TV, a large warming kitchen with storage, a professionally equipped fitness center, a theater/media room.

For more information on City Place or other downtown Sarasota condos, email Annette Smith.

Recent Sales Siesta Key Condominiums

Siesta Key Condo Sales

Searching the Sarasota MLS for recent sales of condominiums sold for the last three months on Siesta Key resulted in 27 condo units with selling prices from $250,000 to a direct gulf views unit at Siesta Dunes with a selling price of $2,900,000.

There are currently 520 condos actively listed on Siesta Key. Siesta Key condos are offered from $250,000 for approximately 300 sq. ft. to over $3 million for a new Siesta Key condo at the Crescent or Summer Cove, Siesta Key's newest highrises featuring all the new amenities of a luxury beach lifestyle.

For more information on Siesta Dunes, the Crescent or other Siesta Key real estate, email Annette Smith.

Sarasota Real Estate News

Looking for Your Home at the Beach

So you think you want a small home on the beach with the waves lulling you to sleep every night. You look at your savings and say that you've been faithful putting the money away for your dream of living by the sea. Next step: email a Florida real estate agent with a request for small home on the beach, minimum two bedrooms and two baths. Oh yes, we have children so this must be in a nice area within walking distance to shops, restaurants and attractions. Our price range is under $250,000.

Well, unfortunately, in Sarasota even with the downturn in the market, you have to add a few more zeros to your price range. Those tiny beach cottages have been replaced with estates or gated communities featuring mini mansions such as Solymar on Siesta Key. These new Siesta Key homes offer premium construction designs.

Yes, we've had major prices increases in the last three years and now these real estate prices are on a downturn, but even three or four years ago $250,000 for what I described above was out of the question for Sarasota, Siesta Key and Longboat Key. Beach property is prime property, and it is still prime! Now is the time to start your search for Sarasota real estate because if not at the bottom of the downturn, we are near the end according to many experts.

For more information on Solymar or Siesta Key new condos, email Annette Smith.

Burns Court - Sarasota, Florida

Sarasota Neighborhood Update

If you haven't seen Burns Court in Sarasota in the last year, you'll be surprised. Burns Court movie goers recently saw the changes. New construction is on every corner. As you can see from some of the snapshots, this inner city neighborhood still oozes with charm and could be the perfect spot for your Sarasota home.


From the handcrafted mosaic sidewalks to the new Burns Court Villas. The sidewalk on the Orange Street is creatively designed with fish, crab and other creatures of the sea.

Rising high above the neighborhood roofstops is the new Kanaya highrise. Kanaya is a balanced building with city and bay views located at the corner of Orange Avenue and Laurel Street.

For your information package on Burns Court Villas and new condos in Sarasota or info on Kanaya, call or email Annette Smith.

Luxury Condominiums on Siesta Key

Beach Villas

Just steps away from the Siesta Key Village, shopping, seashells, dining and entertainment, Beach Villas offer an ideal island lifestyle. These Siesta Key condos house just 22 spacious one and two story villas ranging from 1,350 to 3,400 sq.ft. Interiors provide from 2 bedrooms, 2 baths to 4 bedrooms, 2 baths and 2 half-baths with high ceiling and coffered foyers in select residences along with kitchens equipped with wood cabinetry, stone countertops and stainless steel appliances.

Building amenities include a freeform swimming pool with waterfalls, spa, central tropical courtyard, private terraces.

Villas are priced from the low $1 millions - Penthouse suites from $2+ million

For your information package on preconstruction pricing and new condos in Sarasota or your Beach Villas priority registration, call or email Annette Smith

Longboat Key Dining

Moore's for Stone Crabs

Recently I had stone crabs at Moore's, watched the dolphins and sipped some vino. Every season, my friend Melanie Wright, owner of The Wright Look on Pineapple Street in downtown Sarasota calls to extend her invitation for this festive season. We always enjoy the peacocks crossing the road just before Moore's too.

Before joining Melanie for dinner, I shopped St. Armands for some comfortable Florida outfits for showing Sarasota real estate. The windows of the shops just beckon shoppers as most storefronts are set for the upcoming winter season.


Crossing Fillmore Street, I peeked at shoes before heading back to my car for the ride out to Longboat.

Longboat Key property is worth a look if you are interested in Longboat Key real estate. There are currently over 200 single family homes on the market and over 400 condos are available. Longboat Key is a wonderful location for a Florida lifestyle in a pristine environment. St. Armands shopping is just a short drive away.

Call or email Annette Smith for more information on Longboat Key properties.

Lido Key Real Estate

The Lido Grille

Traffic is picking up in Sarasota, and the second home owners are returning for Sarasota's winter season.

Thursday evening, I met West Virginia customers and friends who recently returned to Sarasota. St. Armands Circle - the Lido Grille was the meeting spot. The Grille is located in the same block, same side of the street as Tommy Bahama's. The martinis are huge, great bruchetta and fantastic scampi! This restaurant has a nice long bar with tvs for football watching or listen to jazz and let your hubby watch the game while dining in a cozy St. Armands atmosphere.

The Lido Grille is walking distance from your Lido Key home, and the beach just a breeze away.

Current St. Armands real estate and Lido Key listings:

Single family homes: 43 priced from high $700,000
Condos: 119 priced from high $300,000

If you are interested in Lido Key real estate or St. Armands real estate, email Annette Smith at annette@annettesellssarasota.com or call 941-504-3922 for up-to-date info in Sarasota, Florida.

Sarasota New Construction

The Forest - Hi Hat Ranch

On November 17, east of Intersate 75, The Forest of Hi Hat Ranch is holding its broker Grand Opening. This gated community of 54 three to six-acre homesites is slated for development by three prominent Sarasota builders:

John Cannon Homes, Inc.
Arthur Rutenberg Homes
Lee Wetherinton Homes

These homebuilders have agreed to follow low-impact development guidelines to preserve the environmental integrity of the land. Natural land beauty will be maintained while residents enjoy a "gracious country living!"

Homes site and residences from $1.1 million.

If you are interested in purchasing a home in Hi Hat Ranch or other Sarasota real estate, call Annette Smith at 941-504-3922 for an appointment.

Sarasota Living & Real Estate

Florida Life

Most of living in Florida is about the water, the sun and relaxation. Saturday I was invited to a football party to cheer for LSU. I've lived in Florida a long time and most of the fans I know here cheer for the Gators. Growing up with SEC football "roots," the adjustment of a move to West Virginia in 1968 was huge, mostly because I never thought any of my new friends liked anything but WVU football. I had to become a Mountaineer!

Well, after moving to Sarasota many years ago, I knew the Gators "got it!" Unfortunately, I was not a Gator, and I was always on the opposite end of the football season.
Then a few months ago, the Sarasota Herald had an article about a couple who re-did their backyard incorporating their beautiful Louisiana collected treasures into a fabulous landscape design featuring a pool, an outdoor fireplace, wrought iron gates!

In a recent blog post, I mentioned making the call to this adorable Southern couple after reading that article. Saturday afternoon, along with their other friends, we cheered the LSU Tigers to a victory against Tennessee. I assure it was all because of our "focus" and the jambalaya and crawfish pie.

Sarasota Florida is like coming "home" from wherever you move. It's not just all about Sarasota real estate, the sunshine and the water. It's about wonderful people from all parts of the country incorporating their old life into their new life and making Sarasota home.

Go Tigers!!!!

Sarasota Real Estate News

According to statistics from the Sarasota Association of Realtors MLS, homes sales in the Sarasota real estate market have eased off from the 2004 historic run-up in prices. The years 2003, 2004 and 2005 were the peak years. The total number of sales has returned to a more normal market such as 2002 and prior years. The median home price has risen significantly above figures from four years ago.

Felix Power, President of SAR 2006, explained that "real estate continues to sell in Sarasota, and at a pace not much lower than what was experienced in 2002, before we had our three peak years." "The median price for homes and condominiums is up significantly from 2002, the overall sales volume is also significantly higher this year than in 2002." We are now back to a more normal market.

The Concession, Sarasota Florida

Culinary Expertise at The Concession

If you are wavering on a purchasing a golf course home at the Concession, Beach Bistro's Sean Murphy is bringing his outstanding culinary style to this new Sarasota country club. Murphy is incorporating all his excellent elements at the Golf Clubhouse, which rated Beach Bistro "extraordinary to perfection" by Zagat, in designing of the kitchen, to menu creation, to dining spaces. Members will enjoy unforgettable experiences in dining pleasure at this new golf course while owning Sarasota real estate. So if you are wavering, The Concession offers the ultimate Sarasota lifestyle.

Lindrick homesites from one acre start at $1 million. Nicklaus Manor homes including Signature Membership are offered from the $2 millions.

Retiring in Sarasota

So You Want to Live in Florida

Many of the telephone calls we receive are from buyers who live in another area and want to buy a Sarasota property as an investment, rent it out and then retire here in ten years. It's a great long-term plan.

This week we spent some time with buyers who have a $1 million maximum price range. Since these prospective residents have never been to Sarasota, we gave them our "general tour" of our town. From Longboat Key's manicured lawns through downtown Sarasota to Siesta Key's beach-style community, we checked out available properties within their "wish" guidelines. Fortunately these buyers were very savy real estate investors and realize that you have to sometimes "give" to "get". Giving up some of your wish list is a toughy, but in today's Sarasota real estate market even in a buyer's market, you probably will have to compromise even at $1 million.

Want to live on the beach, with three bedrooms, a guest suite for an inlaw with an additional kitchen in a golf community? For a $1 million, you can live on the beach, maybe have three bedrooms, but the additional kitchen and golf community will probably not be part of the deal. For $6 million, you might can have it all!

In our general tour this week, we viewed condos instead of single family homes as maintenance is always an issue when owning an investment property or second home out of state. Downtown Sarasota condos hit a soft spot with these "wanna be" Sarasotans and the Burns Court Villas were more to their liking as this complex is similar to home-living and offers the convenience of a downtown lifestyle. One of the hottest new downtown addresses is 100 Central with prices ranging from $735,000 for approximately 1500 sq. ft. for a new Sarasota condo.

Sarasota Lifestyles

Enjoyment of Collecting in Sarasota, FL

In addition to previewing Sarasota listings and selling Sarasota real estate, I'm an avid treasure collector. When I see a treasure, I know it is for me and just where to work it into my Sarasota home or my next "fixer upper" project. So when I started glancing through Sunday's, August 27, 2006, Herald Tribune, I was intrigued by the main article in the real estate section about Sarasota residents, Karee and Ed Valek. The Valeks hired landscape designer, Robert Davie to create a New Orleans style courtyard for their Old Forest Lakes home. The article caught my eye as I've been collecting old relics which are now referred to as my "treasures" by anyone who asks for an explanation of these old pieces. An antique gate was featured in this article, and since my collection includes old columns, a knight in armor, pots, wrought iron pieces and pretty much anything that talks to me, I read more.

In the 1960s I enjoyed my T. Harry Williams history classes at LSU almost as much as going to a football game at Tiger Stadium. The LSU Tigers stayed with me and Mr. Williams history lessons trinkle my life through my collection of treasures each with their own history. The Herald article beautifully describes this Old Forest Lakes home and its passionate LSU residents -- not many of those fans in Gator country. Not knowing the Valeks but knowing that we were kindred LSU fans with a West Virginia connection too, I placed a call to Karee. We spoke shortly and her Southern graciousness was quite apparent from beginning to end of our conversation. I hope to be able to cheer with these Tigers at an LSU broadcast in the future and visit their special "garden" although I will miss seeing the LSU carved into their backyard -- the new swimming pool will just have to do.

Saturday or Sunday mornings are the best days to visit Sarasota's garage and estate sales. Visit South Gate or Forest Lakes on any weekend and you too can fill a seat, a trunk or a trailer full of "stuff." Some of my found treasures:

1. A wine goblet from Galatoire's in New Orleans -- brought back to me from a wedding in the French Quarter. The goblet houses a small matchbook collection from around the globe.

2. A very old newspaper clipping of the menu and offerings of "Doe's Eat Place" - a famous "hole in the wall" steakhouse in Greenville, MS, my hometown. Doe's has been visited by many celebrities and it is celebratory spot for many college graduates who got a degree to earn a steak at Doe's.

3. Many pieces of blue and white porcelain collected from Atlanta to Sarasota- each holds a different memory in my heart

4. A fabulous rhinestone pin sent to me from Baton Rouge by my former roomie and cousin Teegie Hamilton with the letter "LSU" found for $1.50, now worth about $150.

5. A very special autographed picture of Dick Clark from 1960 when I danced on American Bandstand in Philly.

6. An orginal Decca record of "Sugar Blues". My Dad played the sax in the recording. This one purchased on Ebay.

7. A chandellier bought at a Sarasota estate sale by a friend and presented to me as "just perfect" for your house. It was!

If you're a collector of treasures, be sure to make the South Gate and Forest Lakes rounds on a weekend in Sarasota!

Hot in Florida

Longboat Key Former Resident Writes:

"I used to live in LBK, and they closed down a Holiday Inn to build a condo... I
think the minimum price for a 1-bedroom condo was about $1,000, 000

--
Posted by Hot in Florida to Sarasota Real Estate News at 9/10/2006 09:09:09 PM

Sarasota Real Estate News

Sarasota Median Price Rises Slightly July 2006

Congratulations to Maria Sharapova! I took a little break from showing Sarasota real estate on Saturday, and doggie sat for friends and past clients. Snuffy, Kita (the Sarasota pooches)and I watched the men's semi finals of the US Open, LSU football and then flipped to the women's final of the Open. Maria trained at Nick Bollettieri's Tennis Academy in Bradenton so we were thrilled to see her win and convincingly too!

Saturday afternoon's mail delivered statistics from Sarasota Realtor Magazine with the median price statistics for July 2007. As sales ease, the median price rose slightly. In Sarasota, the median sales price for a single-family home a year ago was $350,000 compared to $360,000 in July of this year. The number of single-family Sarasota homes sold this year was 349, compared to 534 last year in July.

Market adjustments continue in Sarasota and the inventory of homes available for sale remain at very high levels.