This unit si ridiculously priced below market value and should be sold inside of a week, we are holding an open house this Sunday, October 18th, 2009 from 1 to 4.  just google 6145 Midnight Pass Road unit E-4 and we will see you there.

Despite what many people think our inventory of really great listings are going away at rock bottom prices and as you may know our prices are actually going up.  I can attest to that because I just got another Gulf front unit under contract and based on the last sale it looks as if prices are going up.  That’s good news for us all, not so good for those folks waiting on the side lines for a bottom that has already passed.

So I checked the stats for the MLS and there are roughly 101 active listings on Lido Key, which includes Condos and Single Family.  When I break it down for condos only there are 69 active listings.  according to the Sarasota Association;

“Sales in July 2009 up 29 percent over July 2008 in Sarasota market”

The Sarasota real estate market in July 2009 was substantially healthier than last year at
this time, with total unit sales up 29 percent to 595, and the months of home supply on
the market once again dropping to levels not seen in three years. There were 450 single
family and 145 condos sold in July, compared to 331 and 130 last July.
July 2009 sales were only slightly lower than the 610 sales in June 2009, when overall
sales rose above the 600 level for only the second time in 26 months. The statistics all
continue to point to a market in the initial stages of recovery.
Inventory levels continued to decline. There were 4,067 single family homes for sale at
the end of July, down from 4,477 at the end of June. Condos experienced a similar
decline, to 2,447 from 2,587. Inventory is now at its lowest point in more than 5 years.
The number of months of inventory – the time it would theoretically take to.

Conclusion: if there was or is a bottom to this market we surely have been there or are there as we speak.  Sales in communities that long have had a dry spell in terms of sales, like Deer Creek in Palmer Ranch, which has in the past had no sales or Pending Sales for months has in the last 60 days 8 Pending Sales, 4 sales and only 14 active properties for sale. As far as active sales in Deer Creek that’s only 5% of the communities overall existing homes.  “By now or Be Sorry”

It just closed and was sold to, in my opinion, the two nicest people I have met in years, It just so happens to be Bill and Darla Furst.  For those of you who dont know Darla, she is the Managing Broker for Michael Saunders and Company in Palmer Ranch and has beeen very successful in Managing Sarasota Agents for Almost 20 years.  Those of you who live or own a piece of property may know Bill, his name is on your Cut-Sheet when you get you proposed taxes for the year, Bill is the County Appraisser. 

Even know my house eventually sold for a great discount, my wife and I are thrilled to pieces to know that it went to two genuinely nice people and we wish them all the best in thier new home…..By the way, never sell a house in Florida without a pool it’s difficult…I wanted to get that comment in before Marc Rasmussen of Real Estate Rag had got the news of the wire.

Marc Rasmussen and I would often Joke and say that “when that house sells it will be the bottom of the market”.  Well let’s see if that is right, we are coming in to our most popular time of year to sell, lets see how sales above 500k do as well.  Inventory in the 500k and above is high in comparison to the brisk sales in 300k and under.

Beat you to the Punch Marc.

Crystal Sands is a unique combination of one and two bedroom suites fronting the Gulf of Mexico; and individual one, two and three bedroom villas flanking  their attractive palm-lined drive. It has two luxurious heated pools and a fabulous beachfront that affords the vacationer access to miles of sun kissed beaches and unlimited water activities plus some of the most gorgeous sunsets ever. Located on world famous Siesta Key, Crystal Sands derives its name from the sands of internationally acclaimed Crescent Beach.

An experienced and cordial staff, which includes Sue and Aimme at the front office, providing 24-hour answering services as well as 911 emergency services professionally manages Crystal Sands. Rentals are available by season, by month or one week minimum (for villas in the summer months).

And right down the road from Crystal Sands lies Quaint shopping villages, fine dining experiences and the extraordinary cultural activities afforded by Sarasotaƒthe “Jewel of the Suncoast.” Long recognized as a haven for the arts, Sarasota offers several live professional and community theatres and features its own Opera, Ballet and Symphony Orchestra. Sarasota is the home of the world-renowned John & Mable Ringling Museum of Art and is host to the Ringling Circus Museum as well. The Marie Selby Botanical Gardens affords the visitor a delightful stroll through acres of natural beauty along the shoreline while the Mote Marine Laboratory and Aquarium allows a close look at life in the sea.

So when deciding on a unique experience which often translates in to the purchase of Beachfront Property, please dont hesitiate to call me, Tom Kelley, with any questions about unit 606 Direct Gulf Front for $789,000. at Crystal Sands….own a piece of Siesta Key today!

You would think that after the high of July 2005, almost 3.5 years that we would see some form of light at the end of the proverbial tunnel. The median price of $163,000 in Sarasota Bradenton, up from $150,000 in March might indicate that pent up demand for housing has finally reached critical mass…..maybe? Although Buyers are still shell shocked from the last 9 months and may become gun shy about committing to Real Estate purchases especially in Florida. While prices rose sales have declined 12% in the Sarasota Bradenton markets, but I suspect that is due to a large portion of our population of snow birds (estimated population of about 100,000 from various cold northern regions) leaving the area after Easter weekend and not committing to anything other than their familes and packing up th condo for their northern homes.
In other fronts, such as the condo market, this area has show signs of real life with the meadian cost of a condo going from $129,000 at the possible bottom of the market in March to rise $20,000 to $149,000. I, Tom Kelley, personally have been having a tremendous amount of success in the area of condo sales on Siesta Key, one of Sarasota’s best Barrier Islands. I find that retirees and families that have been coming down to Siesta Key to vacation and have fallen in love with the area are finally committing more time by purchasing Gulf Front condos on Siesta Key’s Crescent Beach. These are the same folks that serendiptiously missed the market in 2004 when prices seemed to soar to the heavens.
I wouldnt want to under state the fact that condos are typically easier to mantain from a distance, as the communities generally have staff that maintain the units on either a daily or weekly basis to check for leaks or any other household issues that seem to develop and thus protecting the investment of the owners. Houses typically stand alone unchecked for months and could possibly have Air conditioning problems or roof leak issues that if going unchecked can create mold issues that are difficult to remedy, making condos the logical choice for many buyers.

In any case it is hard to predict what consumers will do in the future and how quickly they will return to any one market, but one thing is for sure, Sarasota and her Islands havent changed and the beaches are still amazing as well as perfect weather in Paradise, sales have proven that and those buyers will continue to come. The old Wall Street adage goes, “you cant catch a falling knife”, which means you cant mark the bottom and most folks make that mistake…I suggest you not be one of them and But now.

The number of properties reported pending skyrocketed to 981 in April 2009 in the Sarasota real estate market, the highest since the boom years of local real estate in the 2003-2005 period and topping the previous month by 21 percent.

This is’nt serendipity there is a reason for why sales are up; money is cheap, at 4.5/8% for a 30 year fixed for 30 years. Inventory has more selection and hasnt been this cheap since 2001 price levels. And more importantly sellers are more willing than ever to give the Buyers there best deals, better than Short Sales or Foreclosures in some cases as I have found out recently in one of my many sales this month.

I have attached a link of why Sarasota is still one of the best places to live in the country, just double click on it and watch this beautiful montage of Sarasota’s best beaches, culture and nightlife!

]]> http://kelleyluxuryhomes.com/sarasota/?feed=rss2&p=162 http://kelleyluxuryhomes.com/sarasota/?p=157 http://kelleyluxuryhomes.com/sarasota/?p=157#comments Fri, 22 May 2009 22:19:02 +0000 TK http://kelleyluxuryhomes.com/sarasota/?p=157 It’s Not always easy selling property in this market, but when it comes to Siesta key Gulf Front Condos, it’s more like a dream.  Coming from the Northeast, Boston more specifically, I had never seen sand like this before (99% quartz), I was hooked right away.  So when I picked up the Sarasota Herald Tribune this morning and had also hopped on www.msn.com to see the Dr. Beach a.k.a. Dr. Leatherman had released his newest list of the top ten beaches in the Nation I was happily surprised that Siesta Key’s Crescent Beach had jumped from Number #3 to #2 in the Nation.

Although I really should’nt have been surprised about the new ranking so much since I myself am a huge fan of Crescent Beach and Siesta Key in General.  I have also had a tremendous amount traffic and Sales in my most favorite community on Crescent Beach, Horizons West.  It’ easy to see why the beach sales on Siesta Key continue to rise in Pending Sales, all the Buyers who had been looking in 2002-2004 and had’nt pulled the trigger then have been coming back in droves now.  Most people when they walk in to a Gulf Front unit and head straight to view, which brings emotion back in to this market, where has’nt been any for a long time.  In any case, I welcome these folks to our long know secret called Crescent Beach, I just hope it doesnt get too crazy, this sleepy little key likes its quiet time.

]]> http://kelleyluxuryhomes.com/sarasota/?feed=rss2&p=157 http://kelleyluxuryhomes.com/sarasota/?p=151 http://kelleyluxuryhomes.com/sarasota/?p=151#comments Wed, 20 May 2009 02:53:38 +0000 TK http://kelleyluxuryhomes.com/sarasota/?p=151 Finally, the Sales activity is picking up in Sarasota!!!  it’s like someone turned on the faucet again and something tells me that this is going to be one busy summer, so let me tell you now what the media will tell you in three to four weeks from now…..Pending Sales are through the roof, communities that  didnt have any activity inside of 9 months have been getting 3 to 6 pending sales in a weekend.  For example, look at Laurel Oak Estates, one of, if not, the Country Club in Sarasota had’nt had a decent sale inside 9 months and what I mean by that anything over 500k, now we have 5 pending sales in just the last 2 weeks, one of which is my pending deal at 7590 Albert Tillinghast Drive.  Take another commnity that will make my pal Marc Rasmussen at www.realestaterag.com laugh.  Deer Creek is the community in question where the sales were at an all time low, but now, in the same time frame as the aforementioned country club, has had 5 pending sales just this past week.  I am not sure exactly what the reason is for these brisk sales but I suspect it is the renewed confidence in the past month in the stock market. A quick stat is that the world wide economy has jumped 12% since the markets low of 6500.

Most likely it is the sense that deals are to be had and now is the time to buy, trying to mark the bottom of the market is a past time this country has been long a part of.  

In anycase, I think it will be a very busy summer for all of us at Signature Sothebys International Realty, especially for anyone who wants to stay committed to this market as I have inthe past 18 months.

]]> http://kelleyluxuryhomes.com/sarasota/?feed=rss2&p=151 http://kelleyluxuryhomes.com/sarasota/?p=148 http://kelleyluxuryhomes.com/sarasota/?p=148#comments Wed, 20 May 2009 02:32:31 +0000 TK http://kelleyluxuryhomes.com/sarasota/?p=148 When it comes to working in Southwest Florida’s Real Estate marketplace.

 

I used to work with Marc Rasmussen at Sky Sotheby’s up until eight months and we would have many conversations about how horrible this market had become for a slew of different reasons.  One of many conversations would end with or begin with a house I had listed in a community in Palmer Ranch called Deer Creek at 8377 Shadow Pine Way in Sarasota, which happened to be my personal home.

 

I will start by saying that the house was admittedly overpriced for a home without a pool and where I had come from homes with pools were a LUXURY, but not in Florida where they are more a necessity than anything else.  With this said Marc would often go on about how I was priced too high and told me that when this property would sell, (which I have as a pending sale as of last week) that this would mark the bottom of the market.

 

I’m here to tell you he was not wrong, but I would like to give myself a little credit as well, I did finally wake up and reduce it to the point where it was an awesome deal for someone!  In any case my “Real Estate Rag”buddy is in the Highlands of North Carolina as I write this and is enjoying his vacation with his family.

 

In any case my buddy is in the Highlands of North Carolina as I write this and is enjoying his vacation with his family.

 

I will tell you that it’s not only pricing property correctly that sells homes and condos but also the hard work on the part of the realtor. Let’s face it, its not easy out there but I have recently pended 3 of my listings this past week and the deals, which were abundant, are now flying off the shelves.

 

I haven’t worked this hard in years and haven’t taken a vacation in over two years, but when you love what you do it’s not really work is it. 

 

BTW Marc enjoy yourself in the Highlands, we miss you here in Sarasota!

]]> http://kelleyluxuryhomes.com/sarasota/?feed=rss2&p=148