Sarasota Real Estate News

Hello and Happy New Year!

Topics: Sarasota real estate market update, relocating to Sarasota, and what's happening in performing arts. 

2018 was my best year, having sold over $3 million as both a Listing Agent and Selling Agent.  It was also hard because the deals that Team Dunn and I put together required price reductions, and Sellers were not ready to admit that there has been a change in the market.  Sadly, two of my listings expired.   

Siesta Isles subdivision on Siesta Key, a short walk or bike ride to the public beach, and many canal homes.  This is a delightful neighborhood of 296 homes, most of which were built in the 1960's, with many tear-downs replaced by luxury homes.  The last home we sold in Siesta Isles had been on the market and listed by another company over a year.  When we got the listing, we required that the Seller reduce the price, and it sold it in 86 days $150,000 below the original list price. That was the good news.

Bad news/expired listings: I tried but failed to get the Sellers to list their homes at market price, and they are still unsold today.  Although the homes were beautifully updated, they were overpriced and Buyers found better deals.

It seems that today's real estate market today is shifting to a buyer's market because for many, renting is more cost-effective than a down payment on a mortgage and headaches of home ownership.  Interest rates are up and so are home prices, and that's not a good combination.  So if you are thinking about selling your home, get a good market analysis from a professional Realtor and if you really need to sell, be ready to start reducing your price if you don't have an offer the first 30 days.  If you put in new flooring, kitchens, and baths, don't expect to recover your money; think of it as keeping your home modern, being competitive with other Sellers, and doing repair and maintenance. 

As a Selling Agent, Listing Agent, and homeowner, I have had situations where the homeowner was a weekend handyman, or maybe he bought a six pack of beer and brought in friends to help, because work had been done without required permits.   Buyers can choose to walk away from a situation like that but the work is going to have to be done correctly at some point and the necessary permits pulled.  Sarasota County does not forgive and forget--there are penalties for work being done without a permit.  It's important because the purpose is to have licensed professionals doing the work and to get the County to inspect to be sure it was done right.  Future homeowners deserve that peace of mind.

HVACs are big deals in Florida because they are in use 90 percent of the time.  If the outside condenser/compressor are replaced but the inside air handler is not, there may be warranty issues.  This is just not fair to the Buyer.  When the home is being sold, a home inspector will check the permits to be sure that the permits are closed and the County has inspected.  That's when the Seller and Buyers put on their gloves and sometimes the Buyer walks thinking, "What else has been done to this place by someone's weekend handyman rather than a licensed professional?"

In my own condo that I purchased in June, working this deal with the owner and his Realtor was like coming face-to-face with Bonnie and Clyde. Not kidding.  The Seller and his agent said anything possible to keep the deal together, requiring me to do a lot of research on my own.  My lease was up, and I had to move, otherwise I would have walked away.  Now I'm finding that the HVAC was not serviced for four years and the electrical work was so shoddy it's amazing the place did not burn down.  My dining room light fixture was being held up by a light bulb.  It cost me $700 to have an electrician come in an fix what was wrong, things that my home inspector would not have caught, and I just paid $250 to get the HVAC coil cleaned.  Fortunately, I have a home warranty, because all of the plumbing issues have been corrected (I hope) for just a $75 service call and there have been three. 

Here's what you need to know about relocating to Sarasota:  It's a lovely, small town surrounded by lovely beaches, but it's still a small town.  I have been here for ten years, and moved here during the recession, so I did not try to sell real estate at first.  For anyone who is not retired and wants to move here, you need to know that it's very hard to find a job.  I worked for several temporary agencies doing administrative work, and also did home health care until the real estate market recovered.  If I take you out to show you property one day, I do have stories to tell about working for "the man" after spending 32 years in federal civil service as an analyst.  My training was Defense Work Methods and Standards, and in my last assignment I identified $70 million per year in cost savings by improving work methods.  What I'm saying is that improving work methods and streamlining work processes goes over like a lead balloon when you are the new kid on the block in a small town.  Sarasota workforce has been in place for years so don't try to change a thing. 

If you are a Republican, you may not be happy living on Longboat Key...just saying....

Physical Therapy is big here, and there is a center on every corner, seems like.  It took some time for me to find the right doctor and church.  I moved here from Atlanta and still am an Atlanta Braves and Falcons fan, even though I tried to shift my loyalties to the Tampa Bay Bucks and the Rays. The schools are great and it's easy to get the kids around for their sports activities and other appointments.

Here are just a few things going on - so are you ready to get out and have some fun?

PROFESSIONAL THEATER

SARASOTA

“APPLES IN WINTER”: Roxanne Fay stars in the regional premiere of Jennifer Fawcett’s dark one-person drama about a mother’s pie-baking skills and the legacy of a crime from decades earlier. Jan. 11-Feb. 10. Urbanite Theatre, 1487 Second St. 941-321-1397; urbanitetheatre.com

“THE CRUCIBLE”: Arthur Miller’s landmark psychological drama about the community of Salem, Massachusetts being torn apart as neighbors turn against one another amid accusations of teenage girls practicing witchcraft. Through March 10. Asolo Repertory Theatre, Mertz Stage, 5555 N. Tamiami Trail. 941-351-8000; asolorep.org

“A DOLL’S HOUSE PART 2: Set 15 years after the original play, Lucas Hnath’s sequel to the Henrik Ibsen classic finds Nora Helmer a successful writer and independent woman, but still confronted with skeletons from her past. Jan. 16-March 31. Asolo Repertory Theatre, Mertz Stage, 5555 N. Tamiami Trail. 941-351-8000; asolorep.org

“FST IMPROV: WHEN X MEETS Y”: Inspired by one location and three random notes on the keyboard, the cast of FST Improv weaves a story where two strangers meet, fall in love, fall out of love, and then work to come together for the future of their relationship. Saturdays through Feb. 16. 7:30 p.m. Saturdays. Florida Studio Theatre, Bowne’s Lab, John C. Court Cabaret, 1247 First St. 941-366-9000; floridastudiotheatre.org

“A GENTLEMAN’S GUIDE TO LOVE AND MURDER”: Robert Freedman and Steve Lutvak’s Tony Award-winning, witty and tuneful musical achieves some but not all of its potential in this production that stars Jimmy Nicholas as a young man who discovers he is eighth in line to a British title, and Richard Henry as all the family members standing in his way. (Reviewed by Jay Handelman.) Extended through Jan. 13. Florida Studio Theatre, Gompertz Theatre, 1247 First St. 941-366-9000; floridastudiotheatre.org

“GHOSTS”: From 20th century playwright Henrik Ibsen, a critique of morality and family through a story about the death of Captain Alving and the lies that unravel in the wake of his death. Through Jan. 20. FSU/Asolo Conservatory, Cook Theatre, FSU Center for the Performing Arts, 5555 N. Tamiami Trail. 941-351-8000; asolorep.org

“GUITAR GIRLS”: There is joy, passion and a lot of talent on display from five singer/musicians in this lively, country-flavored musical revue that celebrates the music and lives of such female singer-songwriters and musicians as Dolly Parton, Joni Mitchell, June Carter-Cash and more. (Reviewed by Jay Handelman.) Extended through April 7. Florida Studio Theatre, Goldstein Cabaret, 1241 N. Palm Ave. 941-366-9000; floridastudiotheatre.org

“HAND TO GOD”: Set in the Christian Puppet Ministry of a small Texas town, Robert Askins’ dark comedy about a teenage boy finding a creative outlet in his new puppet, who quickly spins wildly out of control and saying things the boy never could. For mature audiences. Jan. 16-Feb. 8. Florida Studio Theatre, Bowne’s Lab, John C. Court Cabaret, 1247 First St. 941-366-9000; floridastudiotheatre.org

“MARVIN GAYE: PRINCE OF SOUL”: You can feel a sense of “Pride and Joy” watching how Sheldon Rhoden has grown in the role of soul singer Marvin Gaye in Nate Jacob’s revised version of this musical biography that tries to tell too much but comes to life everytime you hear one of Gaye’s many hits. (Reviewed by Jay Handelman.) Through Jan. 13. Westcoast Black Theatre Troupe, 1012 N. Orange Ave. 941-366-1505; westcoastblacktheatre.org

“STRAIGHT WHITE MEN”: An engaging cast makes Young Jean Lee’s recent Broadway play a lively, thought-provoking and sometimes puzzling experience at Florida Studio as they depict a family of white men gathering for Christmas and addressing the privileges they enjoy and what they do with those benefits, sometimes to the detriment of others less fortunate. (Reviewed by Jay Handelman.) Through March 1. Florida Studio Theatre, Keating Theatre, 1241 N. Palm Ave. 941-366-9000; floridastudiotheatre.org

“UNCHAINED MELODIES”: The point or concept isn’t always clear but you get a good number of popular songs from the doo-wop era and into the 1960s performed by an amiable cast of four singers in this pleasant cabaret revue. (Reviewed by Jay Handelman.) Through Feb. 3. Florida Studio Theatre, Bowne’s Lab, John C. Court Cabaret, 1247 First St. 941-366-9000; floridastudiotheatre.org

VENICE

“ALWAYS... PATSY CLINE”: Alana Opie plays the legendary country singer in this musical play about her relationship with a major fan from Houston. Jan. 11-Feb. 10. Venice Theatre, MainStage, 140 W. Tampa Ave. 941-488-1115; venicestage.com

“SEE ROCK CITY”: There are a few strong and involving performances but also some bumps along the way in Arlene Hutton’s bittersweet and grounded play that continues the love story of a couple first seen in “Last Train to Nibroc” as they maneuver through their first year of married life with their mothers always around. (Reviewed by Maureen Martin.) Through Jan. 20. Venice Theatre, Pinkerton Stage, 140 W. Tampa Ave. 941-488-1115; venicestage.com

If I can help you with any real estate questions, please don't hesitate to call me at 941-914-4914.

Most sincerely yours,

Linda Holley, Realtor, GRI, Team Dunn