The most interesting part of this survey for us is that the Bradenton/Sarasota area makes the third place for the most frequently reported location of a home purchase after the Miami-Fort Lauderdale and the Orlando-Kissimmee areas. If you take in consideration that our area is much smaller than the Miami or Orlando area, this news is even more significant.

The buyers who bought property in Bradenton and Sarasota were mostly from Western Europe (44 %) and Canada (44 %). This survey shows how important international buyers are for our local market. “For home sellers it is extremely important that their property gets enough exposure on the international market. International Marketing can be the difference between selling or not selling their homes”, according to Weiss.

According to the survey foreign-born Realtors are more likely to work with international clients than U.S.-born Realtors. Foreign buyers often feel more confident when working with Realtors from their home country.

The reason for the increasing interest of foreign buyers in Florida properties can be seen in the falling value of the U.S. dollar relative to major world currencies during the past several years. As a result the cost of Florda property, priced in dollars, is much lower when converted to the buyer´s home country currency. From the percpective of foreign buyers Florida real estate is effectively on sale.

No, no, don’t laugh. I’m serious. Of course, I don’t mean property that is overpriced or overvalued. The kind of real estate that is only available at these times and at these prices.  Realistic sellers, short sales and foreclosures mean opportunities for buyers.

Look ahead of the crowd

Today, you can find some great bargains on real estate in the Florida, if you know where to look. Look ahead now and you won’t have missed the boat like you did before. I mean these people from overseas saying, if we knew the market would go like this, we should have bought something here in 1995. The 2nd chance is just around the corner waiting.

Sure, the US Real Estate and mortgage market is desparate now. Have we already seen the bottom of the real estate market and the US-Dollar vs. the other important currencies of the world? I don’t believe so, but nobody knows for sure. Besides that election year is coming, what I know for sure is that the US Real Estate market is not Florida. Why?

Sail, surf and beaches! Period!

Espcially the Sarasota / Bradenton market was ahead of the rest when the prices began to skyrocket and it was ahead when they began to drop. So this is the market where you should starting looking now. Don’t wait to long and try to chase prices better catch them in advance.

More money to buy real estate

The falling dollar and the mortgage crisis make up a perfect storm that has left overseas investors in U.S. stocks and bonds facing unattractively low interest rates and unattractively low (or negative) returns on stocks. The dollar’s fall will cause them to lose money in their home currencies even if U.S. stocks hold steady.

An increasing number of overseas investors are joining the global search for alternatives.  The number one alternative is real estate.

 Do you think real estate is a smart investment now?

At some point, though, those same overseas investors will realize that U.S. real estate is a great hedge against what they fear most: an attack of runaway inflation in the United States. A physical asset such as real estate goes up in value when inflation soars. At some point, those overseas investors will notice that real estate in the U.S. is cheap enough that any recovery in the American economy will produce windfall profits.

And besides all profits, don’t forget: Surf, sail and beaches and this can be the source for: More profits…

Axel Weiss, MBA
Lic. Real Estate Pro, Lic. Mortgage Broker
with material from Matt Augustyniak, Horizon RealtyBradenton, Florida

The responsible local Real Estate company for this auction was Sky Sotheby’s Realty of Sarasota. The auction was overseen by Daniel DeCaro Real Estate Auctions Inc.

Some noticeable outcome:

1522 & 1538 N Casey Key Road
8 Bedroom(s) | 10 Full Bath(s) | 0 Half Bath(s) | 11748 sq. ft.
Offered for $20,035,000
Sold for $14,000,000

We compile a sale to listing price ratio: 69%

120 Osprey Point Drive
6 Bedroom(s) | 7 Full Bath(s) | 2 Half Bath(s) | 11759 sq. ft.
Offered for $8,900,000
Sold for $ 6,100,000

Sale to listing price ratio: 68%

204 Bird Key Drive
5 Bedroom(s) | 5 Full Bath(s) | 1 Half Bath(s) | 8071 sq. ft.
Offered for $7,900,000
Sold for less than $4,200,000

Sale to listing price ratio: 53%

Lake Vista Condos, Lakewood Ranch
3 Bedroom(s) | 2 Full Bath(s) | 1 Half Bath(s) | 2000 sq. ft.
Offered for $600,000.
Sold for $200,000

Sale to listing price ratio: 33%

Sarasota’s Westwater construction had 6 properties sold at an average of 60% of listing price.

The Sarasota Herald titles: “The auction achieved neither of its goals — pulling in $200 million and selling all 79 homes and lots — but Sky Sotheby’s and DeCaro Real Estate called the auction “record-breaking”"

Chad Roffers of Sky Sotheby’s says to the Bradenton Herald: “In some cases, the auction may bring prices back down to levels not seen since the 1990s.”

RE auctions are usually subject to regular Real Estate commissions in additon to the auctioneer’s commission which is up to 10%. So the final net proceeds for the sellers are usually significantly lower at an auction.

Our opinion:
We at Weiss & Weiss International, Axel & Bea Weiss provide an unique international marketing approach within the Bradenton / Sarasota area. In contrary to anonymous, large franchised companies, we deal directly with Real Estate Professionals from all over the world and market the properties directly to the prospective sellers. Of course for prospective buyers auctions like this give an opportunity for getting a good deal.

For sellers instead, this is not the way we would recommend. Real Estate auction companies have offered their services to us in the past. We have never seen an advantage for our clients in this. Although the auction companies always protect the broker’s commission (which is fast money for the broker), the additonal auction commission implies a serious disadvantage to the sellers.

We think transactions should be a WIN-WIN situation for all parties involved, so should prospective sellers when considering putting a property to an auction.

Owners of condominiums now fear, that it will be even harder to find a buyer. With to much inventory on the market it hurts if the board is cutting out a big part of potential buyers.

If you struggle to sell your condo, please pick up your phone and give us a call @ 941.866.1666. We will market your home to our qualified local and international buyers.

 The top 10 areas for starting a business are:

1. Orlando
2. Sarasota-Bradenton, Fla.
3. Miami-Fort Lauderdale, Fla.
4. Las Vegas
5. Jacksonville, Fla.
6. Raleigh, N.C.
7. Washington, D.C.
8. Salt Lake City, Utah
9. Oxnard-Thousand Oaks, Calif.
10. Minneapolis-St. Paul

If you´re interested in moving to this area, please give us a call.

We will be glad to help you with all your Real Estate and Financing needs!

Sarasota provides lots of cultural life and leisure activities, and offers its residents a superb quality of life.

Have fun in the sun at the beautiful beaches or enjoy a luxurious nightlife with the finest waterfront dining. Sarasota also is a true boaters’ paradise aswell as a golfer’s dream coming true as it features numerous beautiful golf courses.

Recognized as the cultural center of the state of Florida since the early 1920s, artists of many disciplines have been attracted to the community in great numbers. Sarasota is home to The John and Mable Ringling Museum of Art. You will also find a multitude of art galleries lining the streets and one of the finest art schools in the world, Ringling School of Art and Design. Theater, music and film are also important venues of creativity in Sarasota.

Furthermore you will find a friendly business environment. The business market is booming in southern Florida. Low unemployment and an active incentive program attracts and keeps businesses in the area.

Sarasota real estate is prime on the West Coast of Florida and according to Money Magazine, ranks among the nation’s 15 most desirable areas to live. Sarasota neighborhoods range from oceanfront condo developments, to luxury golf communities, to historic downtown streets lined with classically styled homes.

The city is home to Sarasota-Bradenton International Airport (also known by its IATA designation, SRQ) which serves both Manatee and Sarasota counties.

Colleges in Sarasota include New College of Florida, a highly acclaimed public liberal arts college which serves as the honors college for the state; Ringling School of Art and Design, a school of visual arts and design; and a satellite campus of both Eckerd College (based in St. Petersburg) and University of South Florida (based in Tampa). Several two-year colleges include Sarasota County Technical Institute and Keiser College of Sarasota.