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Here is the full story from today´s Herald Tribune:

Online searches for properties at a prominent real estate site showed North Port-Bradenton-Sarasota as the third biggest target in the nation.

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Sarasota – Connecticut residents Neal and Sandra DeFeo bought the most expensive luxury property in Sarasota County in December – a 4,239-square-foot house off Shell Road on Siesta Key. The DeFeo’s paid $3.015 million, or $1.1 million less than Kevin D. Cogan paid in May 2006.

All told, 18 luxury homes or condos sold for more than $1 million in Sarasota County last month.

Here are the top 10 Luxury Home Sales in Sarasota for December 2011:

1. $3.015 million: 4083 Shell Road, Siesta Key

Buyer: Neal and Sandra DeFeo
Seller: Kevin D. Cogan

2. $2.4 million: 7100 Manasota Key Road, Manasota Key

Buyer: Jonross Inc.
Seller: Nancy Blackstone Spiegel

3. $2.275 million: 1403 Kenilworth St., Sarasota

Buyer: Robert Bonilla
Seller: Pamela Morris

4. $2.2 million: 8140 Manasota Key Road, Manasota Key

Buyer: Carolyn Joseph
Seller: Harold S. Samhat

5. $2 million: 15 N. Sandy Hook Road, Siesta Key

Buyers: Renee Chase and Edward Aroyan
Seller: Linda M. Boring

6. $1.975 million: 1281 Gulf of Mexico Drive, Longboat Key

Buyers: Paul and Lisette Jacobs
Seller: Ingrid Leitzen

7. $1.89 million: Luxury condo, the Hyatt Siesta Key Beach, 915 Seaside Dr, Siesta Key

Buyer: Judith K. Peters
Seller: NS/CSE Siesta Key LLC

8. $1.8 million: Luxury condo, Ritz Beach Residences, 1300 Benjamin Franklin Drive, Lido Key

Buyer: Eugene S. Kahn
Seller: Arlene Barsumian.

9. $1.705 million: 929 Casey Cove Drive, Nokomis

Buyer: Steven and Deborah Grossman
Seller: Mary E. Guyton

10. $1.6 million: 751 N. Manasota Key Drive, Manasota Key

Buyer: Robert and Patricia Darroch
Seller: Claude Darroch

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MANATEE — Existing real estate home and condo sales rose throughout the Bradenton-Sarasota area in November to mirror upswings nationally. The Bradenton real estate market overcame an uptick in contract cancellations to continue the momentum built earlier this year. November is a historically busy month for housing and real estate in general in Manatee as snowbirds and winter tourists soak up inventory left from the summer.

The downside: Distressed properties (REO, short sales, more info on short sales: Bradenton Shortsale) continue to dominate the landscape, which has kept a tight grip on values across the region. The Bradenton-Sarasota real estate market recorded 816 existing single-family home sales in November 2011, a modest 2 percent jump from October and a 17 percent increase from the same time last year, according to figures released Wednesday by Florida Realtors. Existing condo sales also climbed from October to reach 269 in November, a 7 percent gain from a year ago. Through 11 months of the year, local real estate sales are on track to handily bag their best cumulative total since the days of the boom. But because most of the transactions involve foreclosures and short sales, prices have been slow to recover.The median real estate sales price for existing homes in Bradenton and Sarasota last month was $152,100, a slight increase from the $149,300 reported in November 2010. The median is the midpoint where half the homes sold for more, half for less.

Existing residential real estate sales statewide dipped about 6 percent month over month with 12,993 units sold in November. That figure, however, represents an 11 percent increase over the same time last year, the MLS report shows. Florida’s median real estate sales price held relatively steady at $130,100. Similar to the local numbers, U.S. homes sales rose 4 percent in November to a seasonally-adjusted annual rate of 4.42 million units, according to the National Association of Realtors.

To search for current up for sale homes in the Bradenton and Sarasota area, please check Bradenton and Sarasota MLS property search: Bradenton MLS

For more information please contact us:

Axel and Bea Weiss
Sea to Sky Realty
(941) 866 1666
Email

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According to the Sarasota Association of Realtors, November 2011 property transactions in the Sarasota real estate market totaled 602, up 12.7 percent over last November.

The real estate report from Barbara Corcoran on NBC’s “Today” show in late November noted that Sarasota was one of the top recovering markets in the nation. Corcoran said Sarasota is a “beautiful beachfront community” that offers residents and visitors “a sophisticated, urban cultural experience” that is propelling sales and prices in 2011.

Overall, sales in 2011 continued on pace to exceed last year by a wide margin and should put the Sarasota market at the highest level since 2005.

“The Sarasota real estate market has retained traction, and we hope the brightening national economic picture will help maintain and even push this market higher,” said SAR President Michael Bruno. “There is an encouraging sense of stability and strength in our market.”

Pending sales were up in November 2011 to 782 compared to last month’s figure of 772 and last November’s total of 764. Last month 552 single-family homes and 230 condos went under conSubdivision.

“We were certainly happy to see that Sarasota was in the national spotlight on the ‘Today’ show, and in a positive way,” said Bruno. “Very few communities in the nation can compete with Sarasota in terms of affordable home values, climate, culture, amenities and the wealth of properties offered here.”

Statistics were compiled on properties listed in the MLS by members of the Sarasota Association of Realtors as of Dec. 12, including some listings in Manatee, Englewood, Venice, and other areas. Single-family statistics are tabulated using property styles of single-family and villa. Condo statistics include condo, co-op and townhouse.

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All of the top 10 cities “picking up strength” are in the Sun Belt. Florida dominates the list with five snow bird hubs in the top 10: the North Port-Bradenton-Sarasota area (No.1), Fort Lauderdale-Pompano Beach  (No. 4), Cape Coral-Fort Myers (No. 5), West Palm Beach-Boca Raton (No. 6), and Orlando-Kissimmee-Sanford (No. 10).

In Bradenton a little over six times as many people from outside the area were looking for properties there as the number of people living there looking for properties elsewhere.

Another sign of improving health in the Florida real estate market: Existing home sales along the coasts picked up somewhat dramatically this year, even in the slower summer and early fall months.

…both investors looking to purchase rental properties and Baby Boomers scouting for vacation and/or retirement properties are hunting for bargains in floundering housing markets in Florida and California. “Part of the long term trend is Baby Boomers moving toward retirement, and some of those that put off their searches while home prices were skyrocketing in the Sun Belt, are now looking again because prices have fallen so much.”

Give us a call at 941866.1666 if we can help you buy or sell a property in Bradenton / Sarasota, Florida.

„Today“ contributor and Real Estate Expert Barbara Corcoran picked the cities where prices have dropped the most during the downturn, but in the last quarter, prices are shooting up.

So if you´re in search of a home or investment property in Sarasota and want the biggest bang for your bucks call us today at 941.866.1666. We´re here to help!

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Though the past four years have seen many cities suffering from large  numbers of foreclosures and a loss in home values, ten of these real estate  markets are now leading the nation towards a general recovery and stability of  the housing sector.  The six markets included – Miami, Orlando, Ft. Myers/Cape Coral, Ft. Lauderdale, Sarasota/Bradenton & Lakeland/Winter Haven.

Here is Realtor.com’s opinion of the Sarasota FL real estate market:

Sarasota-Bradenton, FL: A total of 11 percent of all foreign buyers in Florida are in Sarasota-Bradenton specifically. Number six on the turnaround report, the market has seen a list prices increase of more than 17 percent year-0ver-year and a decrease of inventory of 32 percent according to the Realtor.com October data. The market still has a long way to go, after losing more than 55 percent of home values from 2006 to the second quarter of 2011 due to foreclosures.

The Realtor.com analysis found that:

• Sarasota-Bradenton attracted 11 percent of Florida’s international buyers.

• List prices in the market are up 17.5 percent from 2010.

• The number of days a home spends on the market before being sold is down 32 percent.

Let’s take a closer look at all markets:

Miami, FL: The number one town on the report, Miami  has gone from being one of the first victims of the subprime crash to having a  healthy inventory that is only half the size from a year ago. Today, Miami is  only reporting one foreclosure for every 407 homes, compared to the national  rate of one per every 213. And, condo sales have increased 79 percent in the  first five months of this year, largely due to an influx of foreign  investors.

Orlando, FL: Ranked second on the report, Orlando  leads the nation in the ratio of Realtor.com searches to listings. Inventory has  also obtained a balance with demand. Foreclosures hurt the market in  2007-08, but foreclosures in Orlando were down 58 percent in September,  compared to last year.

Fort Myers-Cape Coral, FL: Median prices in Fort  Myers-Cape Coral have increased almost 33% year-over-year, according to  Realtor.com’s October 2011 Real Estate Trend Data. In addition, foreclosures are  down–only one in 313 homes in September–while inventory has been reduced and  foreign buyers have been attracted to the area’s real estate prices. The metro  ranked third on the turnaround report.

Fort Lauderdale: FL: A decrease in inventory  coupled with an uptick in prices earns Fort Lauderdale the number five spot  on the report. Inventory decreased almost 38 percent year-over-year, according  to Realtor.com’s October data report. Prices have fallen about 46 percent since  2006, but are now going up.

Sarasota-Bradenton, FL: A total of 11 percent of  all foreign buyers in Florida are in Sarasota-Bradenton specifically.  Number six on the turnaround report, the market has seen a list prices  increase of more than 17 percent year-0ver-year and a decrease of  inventory of 32 percent according to the Realtor.com October data. The  market still has a long way to go, after losing more than 55 percent of home  values from 2006 to the second quarter of 2011 due to foreclosures.

Lakeland-Winter Haven, FL: A year ago,  Lakeland-Winter Haven topped national foreclosure filing lists, but now the  area’s distressed sale market share has decreased 46 percent. The area–ranked  7th on the turnaround list–has seen total listings decreased more than 36  percent year-over-year and median age of inventory decrease more than 17  percent, according to Realtor.com’s October data. Prices are also up 12 percent  compared to last October.

Realtor.com’s Top Ten Turnaround Town Report is compiled using a formula  based on price appreciation, changes in inventory, median age of inventory,  searches by Realtor.com visitors, and unemployment data.

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Here is an excerpt:

One of the key attractions of Sarasota County has been, well, its keys — six barrier islands that lie between the Sarasota Bay and the Gulf. With 35 miles of wide, white beaches, it’s little wonder they attract visitors from around the world. Perhaps the most popular among them is Siesta Key, whose powdery beaches of ground quartz were ranked No. 1 in the United States by coastal scientist Stephen Leatherman, a.k.a. “Dr. Beach.” Siesta is arguably the place to watch the sun set into an impressionist palette of gold, orange, and pink. Not to be forgotten, Longboat Key offers a cosmopolitan atmosphere, where beachfront communities, resorts, and top-notch dining abound, while Casey Key is a quiet enclave of multi-million-dollar homes. Nature lovers appreciate the trails and pine forest on Lido Key and the remoteness of Manasota Key, and divers delight in the abundance of shark’s tooth fossils off the stretch of Venice Beach.

Venice is one of many areas in Sarasota County that has some of the world’s best saltwater fishing. Of course, the inland areas offer large populations of trout and other freshwater fish. The Myakka River provides a front seat to observing wildlife, such as alligators and ospreys, from an airboat. The Oscar Scherer State Park is a favorite of hikers and campers, and Mote Marine Laboratory’s aquarium tours give up-close glimpses of dolphins, manatees, and more.

Read the full story

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Forbes

Here are some excerpts from a Sarasota Herald article covering that topic:

To some, it might seem surprising that a business magazine catering to wealthy readers would name Sarasota-Bradenton and Punta Gorda on its list of “America’s Recession-Resistant Cities For Real Estate.”

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