April 30th, 2017 9:13 AM by Linda Holley
According to Google, 3,788 people read my blog last week…THANK YOU!
Lawrence Yun, National Association of Realtors Chief Economist, says that home shoppers are coming out in droves competing with one another other for listings in the affordable price range. "In most areas, the lower the price of a home for sale, the more competition there is for it. Buyers are showing resiliency given the challenging conditions; however, at some point — and the sooner the better — price growth must ease to a healthier rate. Otherwise sales could slow if affordability conditions worsen."
Linda’s List
5302 Cape Leyte, my favorite single family home in Siesta Isles, 2BR 2BA, den, garage, open floor plan with over 1,600 sq ft, beautifully maintained, large yard compared to other Siesta Key single family homes, many updates, newer air conditioner, block/stucco, less than a five-minute bike ride to Siesta Key Beach. This is the least expensive single family home in Siesta Isles on the market today. Love this neighborhood! Call me at 941-914-4914 for more information. Listed at $619,000.
6037 E. Peppertree Way #228, condo, Peppertree Bay, 2BR 2BA, enclosed balcony, views of Intercoastal waterway and downtown Sarasota, 1,180 square feet with washer/dryer. Peppertree Bay is a condo community-- beach to bay-- with two pools, fitness center, and updated clubhouse. One month minimum rentals, four times a year. $590,000. Listed by Michael Saunders & Co.
1275 Dockside Place, #216, condo Harbour Towne, 3BR 3BA, deeded boat slip accommodating boat up to 45 feet, garage, one-month minimum rentals, three times a year; now $669,000, which is more than$100,000 price reduction. Listed by Michael Saunders & Co.
Siesta Real Estate Facts:
114 properties have been on the market longer than 180 days and 26 have been on the market over one year. Three are single family homes from $514,000 to $850,000, all updated, BUT none are within walking distance of the beach or Village. Location, location, location! This is why 5302 Cape Leyte is such an awesome deal!
Fastest selling Siesta beach condos:
Just to give you an idea of the people’s choices, here are the fastest selling Siesta condos the past six months looking at days on the market in MLS. The average price shown below includes all sizes and locations. Many are investment properties that rent by the day, several are gulf side, have deeded beach access, or are an easy walk to the beach. Could be many reasons that these properties sold within days of being listed, so just call me if I can answer any questions for you! Linda Holley, Realtor, Siesta Key Michael Saunders & Company, 941-914-4914.
Anchorage $470,00.
Beachway Apts $402,000.
Boca Siesta $469,000.
Casa Blanca Villas $388,000.
Casa Mar $342,000.
Castaway Cove $406,000
Continentals Sea Club $311,000.
Ebbtide $260,000.
Harbor Towers $396,000.
Horizons West $475,000.
Inlet Apartments $302,000.
Jamaica Royale $439,000.
La Siesta $354,000.
Palm Bay Club $407,000.
Peppertree Bay $420,000.
Pointe on Midnight Pass $349,000.
Polynesian Gardens $400,000.
Provincial Gardens $399,000.
Sandy Cove $457,000.
Sara Sea $375,000.
Sea Crest Apts $389,000.
Sea Village $499,000.
Sea Shell $430,000.
Siesta Harbor $307,000
Siesta Rev, $350,000
Siesta Royale $340,000
White Sands Village $274,000.
Crystal Sands: The backup offer that I discussed last week did not come to fruition. The property closed this week at a price lower than our offer, which means that the Buyers did everything the Sellers wanted all the way through to closing. Crystal Sands had tornado damage over a year ago, and the homeowners association had to borrow money for repairs because the insurance company has not paid. Our backup offer was for a 2BR, 2BA on the 2nd floor unit, completely updated, with a direct gulf view that sold for $700,000; the price was reduced from $798,000 (which is market price for a full gulf view) and it was on the market 463 days. The discussion between the Buyer and Seller in my backup offer was about who would pay a potential assessment of $18,000. The Buyer I worked with was willing to do this, but the primary offer won because that Buyer met all the Seller’s terms. So, if you are a Buyer with a contract to purchase a property, be careful playing hardball with the Seller because there may be a backup offer on the table that is better than yours. A 3BR unit just came on the market in Crystal Sands on the 11th floor with a fantastic view for $1,050,000; saw it yesterday, BEAUTIFUL!!
WIRE FRAUD ALERT – “Show me the Money!” Throughout the US business industry, hackers are emailing individuals with banking information to wire funds directly to them. The money goes into their account but it was not the recipient the sender of the money expected. This has now reached the real estate industry and Buyers are in jeopardy. If you receive an email from an individual with wiring instructions, always verify!
SURVEILLANCE: If you list your home with Michael Saunders & Company and have surveillance equipment in your home, we must disclose that! Sellers can keep their eye on people viewing their home and attending Open Houses, which is a violation of their privacy unless it is disclosed. We are living in a different world, folks!
DEED RESTRICTIONS: Whether you are a Buyer or Seller, it’s important to get a copy of the deed restrictions. You’ll find out about the approved policies such as rentals, pets, and vehicles allowed. You’ll be surprised what homeowners agreed upon decades ago, and some are in serious need of updating legally. Sadly, this week I obtained a copy of deed restrictions for a Sarasota neighborhood that is over 60 years old, and the deed restrictions clearly violate the Fair Housing Laws. I have a feeling it won’t be long until these deed restrictions follow federal laws…speaking of “different worlds” and this was not that long ago! How sad!!!
Have a great week, please don’t text and drive, and call me if I can answer any questions about Sarasota real estate. Visit my website at LindaHrealtor.com for helpful information about buying and selling real estate, and see my previous blog posts at LindaHrealtor.com/blog.
Most sincerely yours,
Linda Holley, Realtor, GRI
Michael Saunders & Company
941-914-4914
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