Sarasota Real Estate News

THANK YOU!  In the past 30 days, 8,296 people have read my blog, which is about my personal experiences in Sarasota real estate the past week. Most of the Buyers I see live out of town and here's what appeals to them about living on Florida's gulf coast.  

1.  Lifestyle:

    - Canal homes and condos are very affordable in South Sarasota, Nokomis and Osprey; favorites: South Bay and Sorrento South.  

    - Single family homes and condos within 10 minutes of Siesta Key Beach; favorites: Gulf Gate single family homes and Castel del Mare condos.  

    - Beach condos with rental income and deeded beach access.  Favorites: La Siesta, Peppertree, and Gulf and Bay.  

2.  Schools:  Two families with school-age children have relocated to Sarasota/Venice and have purchased new 4 BR homes, and a third family is on their way!   Schools of choice:  Riverview High School in Sarasota, Venice High School in Venice, and Pine View School in Osprey--a public school for gifted students.  In Sarasota, a new home in Arbor Lakes by Taylor Morrison was selected; in Venice - new homes in Caribbean Village built by D.R. Horton and Island Walk built by Divosta are the Buyers' choices.

I LOVE Buyers who purchase new homes and choose to work with me as the Selling Agent so we can go through this process together.  It's very personal to me because I was stung purchasing new construction out of state before I became a Realtor and learned the duties Realtors owe to their clients/customers--the first of which is honesty.  It makes me smile when a Buyer thanks me for my honesty. 

This week, I have received MLS notifications about price reductions, and no, I don't think that the economy is falling apart.  It's because the listing was overpriced to begin with and there are some real estate brokerages and their agents who typically overprice a home just to get the listing--this is so unfair to the Seller!  Michael Saunders and Company does not have that reputation in Sarasota!  Problem is that the most visibility a listing will get is the first week on the market, so overpricing a home means that it will stay on the market much too long, and when you lose the interest of a qualified Buyer, they are long gone....

My picks of the week:  Go to my home page http://www.LindaHrealtor.com and enter the MLS number to see photos.

1.  Luxury home:  7152 Point of Rocks Circle, $5,249,000.  MLS A4175408  
Six bedrooms, 4-1/2 baths, total square feet 6,338.  I know the Sellers and yes, I'd love to sell this one, even though it is not listed with my brokerage.

2.  Canal homes*:  1806 Caribbean Dr. MLS A4173966  3BR 2BA $450k; boat ramp
7833 Holiday Dr., MLS A4171370  3BR 2BA for $515k* (both on Tuesday tour)

3.  Gulf Gate*:  
2857 Gulf Gate Dr., MLS A4174722 2BR 2BA completed updated for $275k (on tour)

* These three homes will be on the Michael Saunders & Company tour Tuesday from 10 a.m. until noon.  If you stop in, please say that Linda Holley sent you!  :-)  

4.  Siesta Key:
1080 West Peppertree MLS U7801858, 2BR 2BA gulf side, renovated for $450k.  Peppertree is a fabulously maintained, upscale condominium community on the gulf and the bay.  Monthly dues are $573, built in 1974, and the rental policy is 1 month minimum, 4 times a year.  There is an on-site management office, underground parking, elevators, security, and a clubhouse that overlooks the beach!  I can help you as a Selling Agent, but this is not listed with my brokerage.

SO YOU THINK YOU WANT TO SELL?  Please pressure wash the front of your home, your lanai, clean your pool, and have your HVAC cleaned and serviced.  If you can, put in new granite counter tops. at least in the kitchen, and leave your furniture. Laminate flooring, while it looks new, also looks cheap, so for new flooring, I recommend tile and there are many fine choices, some of which resemble wood.   Most of the Buyers in Sarasota I see today are "snowbirds" here for the winter and they don't want to try to furnish a condo that will be used for rentals or their own seasonal use.  Clean out your closets so the Buyers can see how much room there is for their own things.  If you have a purse or shoe fetish, pack your 200 items away--get a storage facility for the things you don't need, Buyers are distracted and amused at these things when they open the closets, and they won't take the sale of your home seriously.   If you must take your furniture, stage it with at least a few pieces so Buyers can visualize how the space is used.  Replacing the kitchen appliances with stainless is always a good idea, and I recommend getting your home under warranty with American Home Shield--that is always a good selling point.  PLEASE DON'T TRY TO PAINT YOUR CABINETS...and If in doubt about the price and comps, get an appraisal and also a home inspection.  If you are working with Linda Holley, I'll reimburse you at closing.

Have an awesome day and please don't text and drive.

Most sincerely yours,

Linda Holley
Realtor, GRI
941-914-4914

For the past two years, I have worked for Michael Saunders & Company in Palmer Ranch, Sarasota, Florida, for Managing Broker Darla Furst.  Her tenure has just ended as Chairman of the Florida Real Estate Commission (FREC).  What an awesome real estate professional, an indication of the expertise and leadership within our great company.  Take a look at this article about Darla, who is also known as "Judge Judy," on FREC.  

Here to help you with your Sarasota real estate needs.
Linda Holley, Sarasota Realtor, 941-914-4914

UK Buyers:  Florida salutes our buyers from the United Kingdom!   Our state is a major destination for 39% of the UK buyers, followed by California at 15%.  It's about location...Florida happens to be closer and less expensive to travel here from the UK!  

Housing Forecast:  Approximately 40,000 new homes were built across the country this year, and an additional 60,000 are expected to be built in 2017. You do need your own personal realtor with you when you buy a new home, and if you are my customer and buy a new home without me, I can't help you, you are at the mercy of the developer and builder.  I know the individual communities from Bradenton to Venice, and can help you select the area based on your wants, needs, and preferred lifestyle.  You can spend two weeks driving around with your GPS finding the new home communities, or we can see them all in a day.  I'll be sure to let you know which builders are famous for tacking on additional costs for things that some builders consider standard, such as granite and wood cabinets, and what is included in your maintenance fees.  Plus I know where the best schools are!

My nightmare - In 2004, before I was a realtor, I bought two investment properties in Taos Ski Valley, New Mexico, that were under construction - just three hours north of my home in Albuquerque.  This was before I became a realtor, and simply did not know what I did not know.  These properties were over a year late being finished, and right off the bat, I lost money in a failed 1031 exchange, plus the properties were filled with defects and code violations.  Had I known what I was doing, I would have gone to visit the site with a real estate agent from a different brokerage in Taos, such as Prudential or Century 21, and either of these brokers would have helped me terminate my contract and get my deposit back; sadly, everyone but the out-of-state Buyers knew that there was trouble ahead.  This project was a joke around town during construction!!  The developer ran out of money, the contractors and his subcontractors funded the project, the project manager was fired (which was the right thing to do), and we the owners acquired mechanics liens about a month after we closed!   After closing and a few months later...In the middle of the winter, and ski season...our water pipes were known to freeze and break, totally ruining the contents of our new ski condos.  I was asleep one night, and the building caught on fire because ice and snow from an adjacent building roof fell on our unprotected gas meter and ignited.  I'm lucky to be alive today to talk about this.  

The project, Wheeler Peak Condominiums, was a joke, but no one, especially the realtors who helped us sign our contracts, would tell the 24 Buyers.  After several law suits, the homeowners association was awarded over half a million dollars for the repairs (just three years after construction), but it was not enough.   If you are an investor, try to sell your property that has been seriously stigmatized around town.  

As I contacted the local real estate and construction professionals in Taos to get ready for my own law suit, which was against the contractors AND the realtors, I quickly learned that our realtor worked for the Seller and not us, although by their actions they led us to believe we were fully represented and that they "had our backs."    So call me (941-914-4914) if you want someone to look out for your best interests in Sarasota new homes.  That is New Mexico 10 years ago...onward to Florida!

Your 2016 property values are posted online at the Sarasota County Property Appraiser's website.  http://www.sc-pa.com/   On August 22, 2016, TRIM notices (taxable value)  will be mailed.  You have 25 days after August 22 to file an appeal.  Please look over your TRIM notice and if you feel that the value is too high, go ahead and file your appeal.  If your home has been on the market and has not sold, you have a good argument, and Bill Furst, the Sarasota Property Appraiser, (whose first career was in real estate), will determine if your Fair Market Value needs to be reduced.  

Wow! If things are not confusing enough with technology, the Florida real estate contracts are vague in the financing clauses.  Always use the Appraisal Addendum if you are planning to financing your home, because the language in the addendum can protect you run into problems with the appraised value of the home you are buying.

That's all for today!  Have an awesome weekend and let me hear from you if I can assist you in your Sarasota real estate needs.

Most sincerely yours,

Linda

I JUST LISTED THIS!  Ground floor end unit well-maintained condo, 1,147 square feet, association dues just $304 per month, built in 2000, Plaza de Flores.  This is the largest two bedroom on the market, and the homeowners association is very financially healthy.  Walk to Publix, Walgreens, YMCA, Subway, and 15 minutes to the beach.  Go to www.PalmerRanchLindaHolley.com and search for MLS number A4142178 .  

Palmer Ranch villa, 1,421 square feet, 2BR 2BA in maintenance-free Mira Lago listed for $260,000.  Built in 1990, no pool, with a water view from the kitchen.  Call me and I'll make an appointment for you.  Linda Holley 941-914-4914  HAPPY HOLLEY-DAYS!

OPEN HOUSE TODAY 7467 Botanica Pkwy .. October 25, from 1-4, in Botanica subdivision of Palmer Ranch, Sarasota, FL zip code 34238.  This is a gated community with just 168 carriage style homes, all maintenance free.  This Cedar model is a ground floor 2BR 2BA with a garage and lake view for only $289,000.  

Botanica is just minutes away from Siesta Key beach, Nokomis Beach, Legacy Trail for biking, wonderful restaurants, and Sarasota Square Mall.  

You'll feel at home the moment you enter the private gates of Botanica. This small resort style maintenance free community has it all lush landscaping, a 4,000 square foot clubhouse, two heated pools, fitness center and is located in convenient and beautiful Palmer Ranch. . The interior offers volume ceilings, crown molding, tile on the diagonal throughout the main living areas, large kitchen with breakfast bar, breakfast nook, separate dining room, and so much more. 

Please stop in or call me at 941-914-4914 if you have questions.  

Most sincerely yours,
Linda Holley, Realtor, GRI
Michael Saunders & Company
www.PalmerRanchLindaHolley.com

I have updated my website PalmerRanchLindaHolley.com with great recipes and other helpful information!

Look out!  The Millennials and Baby Boomers are coming--buying homes in Sarasota in historic proportions--explaining the inventory shortage. 

Statistics for Palmer Ranch Homes Sold, June 2015.  82 sold, up from 68 last June.  So this was our best month this year, the average price of homes sold for $345,000. I have compiled a list of the communities with the least expensive home that sold in June.  

Bella Villino from $122,000 (condo)

Botanica from $282,000 (condo)

The Hamptons from $390,000 (single family)

The Isles from $257,000 (villa)

Mira Lago from $405,000 (single family)

Pinestone from $185,000 (condo)

Prestancia from $260,000 (condo)

Sandhill Preserve from $480,000 (single family)

Silver Oak from $679,000 (single family)

Serenade from $95,000 (condo)

Stoneybrook from $175,000 (condo)

Turtle Rock from $381,000 (single family)

VillageWalk from $270,000 (single family)

Villas at Deer Creek from $380,000 (single family)

Wellington Chase from $305,000 (single family)

Linda

Thank you for reading my weekly blogs!  The Botanica condominium community in Palmer Ranch is just 10 minutes from Siesta Beach.  My listing is at 5222 Bouchard Circle, Sarasota, FL, 34238, and you can find it by searching by that property address on the main page of my website PalmerRanchLindaHolley.com

I will be at the property on the next two Sundays from 1-4 p.m. holding Open Houses for the Sellers so stop by if you get a chance.  This home is 1,969 square feet, 3 bedrooms, 2 baths, all rooms are upstairs with an elevator to bring you up from the front entrance and garage.  You will enjoy a private and quiet southerly view of the lake.   Each room is wired for sound, there is a reverse osmosis water system in the kitchen, and also a new water softener.   The master bath has a jetted tub, a walk-in shower, and two vanities; the master bedroom has a lake view with two large walk-in closets.  Seller will leave the beautiful furniture (not furnishings), all for $350k.  That's a DEAL because in terms of value, this home is priced at $178 per square foot and the average home sells for $184 per square foot in this community.  The price indicates that this seller is motivated!

Botanica has only 168 homes and the construction began in the early 2000's.  Residents enjoy regular activities at the clubhouse, connecting with their neighbors, and they love to celebrate with holiday parties.  The clubhouse has a catering kitchen, fitness center, grills, a conference room, and two heated pools.

I have met many residents at Open Houses in Botanica who rave about the great maintenance that is included in their quarterly maintenance fees.  That’s exactly why many of Sarasota's homeowners are moving to maintenance-free, gated communities in the $300-400k range.   You can find single family homes in Venice and Gulf Gate but most were built in 1960-1980, they are not in gated communities, do not have amenities such a fitness center and heated pools, and are not maintenance-free: let's face it: homes in Florida are all maintenance-intensive! 

Don't think you can save money on maintenance fees in a home just by hiring your own lawn crew.  Maintenance fees in Botanica also include water, cable, heated pools, fitness centers, all exterior maintenance and everything beyond the paint of your walls becomes the responsibility of the homeowners association.  That's why many buyers whom I meet insist on maintenance-free living so they don't have to worry about finding good local service personnel to do this work.

Think maintenance-free, think Botanica!