The "New" 10 Commandments

I. Thou shalt have no God in America, except for me. For we are no longer a Christian nation and, after all, I am the chosen One. (And like God, I do not have a birth certificate.) SOURCE

II. Thou shalt not make unto thee any graven image, unless it is my face carved on Mt. Rushmore. SOURCE

III. Thou shalt not utter my middle name in vain (or in public). Only I can say Barack Hussein Obama. SOURCE

IV. Remember tax day, April 15th, to keep it holy. SOURCE

V. Honour thy father and thy mother until they are too old and sick to care for. They will cost our public-funded health-care system too much money. SOURCE

VI. Thou shalt not kill, unless you have an unwanted, unborn baby. For it would be an abomination to punish your daughter with a baby. SOURCE

VII. Thou shalt not commit adultery if you are conservative or a Republican. Liberals and Democrats are hereby forgiven for all of their infidelity and immorality, but the careers of conservatives will be forever destroyed. SOURCE

VIII. Thou shalt not steal, until you've been elected to public office. Only then is it acceptable to take money from hard-working, successful citizens and give it to those who do not work, illegal immigrants, or those who do not have the motivation to better their own lives. SOURCE

IX. Thou shalt not discriminate against thy neighbor unless they are conservative, Caucasian, or Christian. SOURCE

X. Thou shalt not covet because it is simply unnecessary. I will place such a heavy tax burden on those that have achieved the American Dream that, by the end of my term as President, nobody will have any wealth or material goods left for you to covet. SOURCE

Life In Sarasota Florida

Explore Sarasota Florida, the ever-evolving Florida destination. Sporting the finest beaches in the world, including Siesta Key, Lido Key, Anna Marie Island, Longboat Key & Lakewood Ranch, Sarasota is a small community rich in culture, fine restaurants, and the wonderful Sarasota Florida climate. Located on the West coast of Florida, 45 miles south of Tampa, Sarasota Florida real estate offers something for everyone. From single family homes on the Sarasota mainland, to condominiums on Siesta Key Longboat Key and Lido Key; Anna Marie Island; New Home construction in Lakewood Ranch & Manatee County; Old Florida charm in downtown Sarasota; Gated Communities and golf course settings - Sarasota has it all... Come to Sarasota - You have earned it!Sarasota Florida is known as the "crown jewel" of the South. The pure white crystal sand beaches of the Sarasota barrier islands of Siesta Key, Lido Key, Anna Marie Island, Holmes Beach and Longboat Key, a booming economic climate and the overall Sarasota Florida real estate community attracts tourists from all over the world. Every season offers a totally unique experience! Make your plans now to visit the wonderful Sarasota area.

Sarasota - A World Class Community Our flourishing educational, cultural & economic landscape and the diverse opportunities Sarasota offers makes it easy to understand why Money Magazine named Sarasota Florida:

#1 Best U.S. Small City and Best Places to Retire in the U.S.

Sarasota Named Arts Capital of Florida

According to a recent article in Southern Living magazine, Sarasota Florida and Sarasota County is the nations per-capita Arts Capital. The rich arts landscape of Sarasota includes the world-class Florida West Coast symphony, Sarasota Opera, Van Wezel Performing Arts Hall, Asolo Performing Arts, John Ringling Museums, Sarasota Ballet, Selby Botanical Gardens, Sarasota Film Festival, Sarasota Music Festival, Banyan Theater Company, Tampa Performing Arts, Sarasota Film Society, Venice Little Theater, Manatee Players, Circus Sarasota, G Wiz Museum, Golden Apple Theater, Sailor Circus, Players Theatre, Sarasota Jazz Club, Ruth Eckerd Hall, Burns Court, & Towles Court art communities.

In downtown Sarasota visit the Friday night gallery walks, catch the music once a month at "Downtown After Five' or spend a Saturday morning at the Sarasota Farmers Market, the new Whole Foods Market or relax at the Sarasota News & Bookstore. Sarasota is also home to the Ringling School of Art & Design.

Florida Real Estate Listing Agreements

Exclusive Agency Listings

By definition this type of agreement in which the home owner appoints a real estate broker as the exclusive agent to sell the property for a pre determined period of time, usually 8 to 12 months but can be as little as 3, at a pre- determined price or Listing Price and a pre-determined commission paid to the broker for the sale. In this type of contract the owner maintains the right to directly sell the property without paying a commission if the buyer did not come as a result of the agent´s effort.

Your real estate agent is your strongest allied in selling the property, but this type of agreement allows the home owner to compete with the agent, thus making it a complicated relationship in which a greedy buyer may approach directly the homeowner and negotiate a better price.

This type of agreement is easily circumvented hence very unpopular among real estate agents. No agent in Sarasota, which really is committed to sell a property, will accept this type of agreement because of the obvious difficulty to track where the buyer came from thus making all agents´ efforts to sell null, if the buyer claims otherwise. Often a seller feels inclined to sell directly and avoid paying a commission easily accomplished by just waiting to close after the expiration of the agreement. In addition, there are no provisions for listing in the Multiple Listing Service hence no other brokers or agents involved. A commission will be paid only if the real estate is sold to a buyer obtained through that brokerage.

Reputable agents will not invest any effort in this type of transaction since there are time and expenses involved, that will not be recovered if the agent is circumvented. A sign of the times, contracts of this kind are biased and often detrimental to the agent or call for an ethical conduct among parties that no longer exits or is rare to find and difficult to prove in a court of law which in term demands additional expenses.

The agent may choose or agreed upon not to advertise your property in the MLS making it available to thousands of other real estate agents and possible buyers. Not having your property listed with an online search engine or the MLS is to curtail the chances of selling you property sooner and at a better price.

If you are determined to sell your property and want an agent to work hard to sell the house, honestly earning a commission then you might consider other types of agreement since the Exclusive Agency Listing will not yield the results you expect in Sarasota or anywhere else.

Deciding Where to Retire

Deciding where to retire

Deciding on where to retire is a decision millions will face in the coming years. It may be to places like Sarasota or it could be simply down-sizing to a place near "the kids".

Baby Boomers have several choices. They can stay where they are, downsize to more suitable 'digs', move away or even buy a motor home and live everywhere / nowhere. Where's the perfect place is anyone's guess. There can be some method to finding your 'right place'. Sarasota is definitely a great option for many Boomers.

Needs will always changeStudies show people often go through stages of retirement. A person who is 62 will have different needs than a person who is 85. Deciding where to live will change over time and thus people will probably make a move more than one time. Many dip their toes in the water first - retire slowly. Boomers today have too much ambition to quit and do nothing. For a lot of people, they understand they can work from anywhere. With cell phones and internet access, I could almost sell real estate in Florida from my home state of Michigan. ...more

Buyers Agent

In today's volatile real estate market the role of a Buyer's Agent is more important than ever. Foreclosures, Short Sales and REO (bank owned) sales make up a large portion of today's real estate business. Understanding each of these types of sales is a very important service provided by a Buyer's Agent. For More information...

Sarasota Neighborhoods

Sarasota is a bright and eclectic patchwork of neighborhoods and lifestyles. Made up of dozens of communities, there is no one unifying experience that sums up the life and the heartbeat of this city among cities. From the eternal sunshine and to glittering white crystal sand beaches, Sarasota will forever be many things to many people. Below is a either a link to the individual Sarasota area or a brief description of the neighborhood. Also you will find a rough idea of the price range of the respective locale.



Sarasota neighborhoods

The Current Rules of the Game

How to safely " play real estate' in Florida. That is a good question. Are prices at the bottom? Don't know - no more than anyone knew they were at the top. What I have noticed is more of the 'experts' seem to be more neutral or positive than in recent months.

The current prices are pre-2003 for many Sarasota houses and condos. If you purchase a property today, will it go lower tomorrow? Maybe. But it very well could be a day away or week away from turning around. It is a lot closer to the end now than in 2007.

Be cautious. Be wise. Do your homework and find an agent who cares about finding you the very best property which meets your needs.

Save Money Tip

TIPS ON PUMPING GAS (Good information)

I hope these tips will help ease the pain at the pumps !

I don't know what you guys are paying for gasoline.... but here in California we are also paying higher, up to $3.50 per gallon. But my line of work is in petroleum for about 31 years now, so here are some tricks to get more of your money's worth for every gallon.. Did you know that when they fill a ferry boat with fuel there can be a 23 gallon difference depending on if the tank is warm or cold.Here at the pipeline we deliver about 4 million gallons in a 24-hour period thru the pipeline. One day is diesel the next day is jet fuel, and gasoline, regular and premium grades.
We have 34-storage tanks here with a total capacity of 16,800,000 gallons.

Tip #1.) Only buy or fill up your car or truck in the early morning when the ground temperature is still cold. Remember that all service stations have their storage tanks buried below ground. The colder the ground the more dense the gasoline, when it gets warmer gasoline expands, so buying in the afternoon or in the evening....your gallon is not exactly a gallon. In the petroleum business, the specific gravity and the temperature of the gasoline, diesel and jet fuel, ethanol and other petroleum products plays an important role. A 1-degree rise in temperature is a big deal for this business. But the service stations do not have temperature compensation at the pumps.

Tip #2.) When you're filling up do not squeeze the trigger of the nozzle to a fast mode. If you look you will see that the trigger has three (3) stages: low, middle, and high. In slow mode you should be pumping on low speed, thereby minimizing the vapors that are created while you are pumping. All hoses at the pump have a vapor return. If you are pumping on the fast rate, some of the liquid that goes to your tank becomes vapor. Those vapors are being sucked up and back into t he underground storage tank so you're getting less worth for your money.

Tip #3.) One of the most important tips is to fill up when your gas tank is HALF FULL or HALF EMPTY. The reason for this is, the more gas you have in your tank the less air occupying its empty space. Gasoline evaporates faster than you can imagine. Gasoline storage tanks have an internal floating roof. This roof serves as zero clearance between the gas and the atmosphere, so it minimizes the evaporation.

Unlike service stations, here where I work, every truck that we load is temperature compensated so that every gallon is actually the exact amount.

Tip #2.) Another reminder, if there is a gasoline truck pumping into the storage tanks when you stop to buy gas, DO NOT fill up--most likely the gasoline is being stirred up as the gas is being delivered, and you might pick up some of the dirt that normally settles on the bottom.Hope this will help you get the most value for your money.

Sarasota Property Taxes

Sarasota Taxes

Property Taxes - General Information

When do I pay my property taxes?

Florida law provides for certain discounts on CURRENT TAXES if they are paid before March of the following year. Discounts are accepted according to the POSTMARK of your payment. Tax bills are mailed out in November of each year with the following discounts in effect for early payment:

4% if paid in November
3% if paid in December
2% if paid in January
1% if paid in February

Gross taxes become due in March. Taxes become delinquent April 1st and additional charges become due.

What if I don't get my bill?

According to Florida law, it is the responsibility of the property owner to see that a bill is received and taxes are paid. Tax statements are sent to the owner and the address on record. If you move, it is your responsibility to send written notification to the Property Appraiser. A delay in recording of the deed can also result in your not receiving a bill on your property. You should have received a separate tax bill for each property you own. Verify that the legal description on the tax bill is for all of your property. If you do not receive a bill by November 15th, notify this office immediately or you can obtain one from this web site. Click here.

What if I receive a tax bill and I no longer own the property?

If you received a real estate tax bill for property you no longer own, please forward it to the new owner or return it to this office. If you received a tangible personal property tax bill for property you no longer own, but you did own on January 1, 2004, you are still responsible for paying the taxes. If you did not own the tangible personal property on or after January 1, 2004 you need to contact the Property Appraiser immediately at (941) 861-8200.

What if I receive a notice stating "This bill has been requested by an escrow company"?

This statement means that an escrow company has requested your original bill. By Florida law, when an escrow company requests a property tax bill, the tax collector is required to send it to them. The property owner then receives an informational notice, which is what you have. If your taxes are not escrowed through a mortgage company, you should submit payment with the bottom portion of your notice. If your taxes are escrowed you do not need to do anything further - your escrow company would have received the same bill. However, if your taxes are escrowed and you received the original bill (with no statement across the top), contact your mortgage company immediately.

How can I get a paid receipt?

Paid receipts can be printed anytime from this web site (click here) or can be received by fax from Tax Talk at (941) 861-8315.

Do I have to pay all my taxes at once?

If your taxes are at least $100 this year, you may choose to pay next year's taxes on the installment plan. Property owners must send a completed application to the Tax Collector before May 1st for taxes which will be due later that year. Otherwise, all taxes are due and payable in full. Applications can be printed from this web site (click here). Payments are quarterly: in June, September and December of the tax year, and March of the next year. Remember, you must plan ahead. If you wait until you receive your tax bill in November, it will be too late to pay by installment for that year.

What if I can't pay my tax bill?

Florida law entitles you to defer payment of a portion of your tax bill if you are eligible for homestead exemption. This also depends on your age and income. Interest is charged on the deferred taxes and treated as a lien against your property. Taxes and interest are due only upon your death or if you sell your home. Application must be made on or before January 31st. For more information, click here.

I bought the property in the middle of the year. Will I have to pay taxes for a whole year?

No matter when you purchase the property, as the owner, you are responsible for paying the entire tax bill mailed in November. However, taxes are usually prorated on the closing statement and credit is given by the seller for the time during the year that you were not the owner. This credit is between you and the seller. No money is given by the seller to the Tax Collector as partial payment of that year's taxes.

Who decides what my taxes will be?

According to Florida law, your tax bill includes both ad valorem taxes and non-ad valorem assessments. For more information about each of these: Ad Valorem Taxes Non-Ad valorem Assessments

Who do I contact for other questions?

Jim Todora, Property Appraiser (941) 861-8200 Karen Rushing, Clerk of Circuit Court (941) 861-7400

As a property owner in Sarasota County, it pays to be informed about your rights and responsibilities under Florida law. Understanding the procedures regarding property taxes can save you money and will help this office to better serve you. If you have questions not answered here, please do not hesitate to call us at (941) 861-8300 or e-mail to Info@SarasotaTaxCollector.com

For more information on the taxes for Sarasota please go to the following web site.:
http://taxcollector.co.sarasota.fl.us/PROPERTYTAX_PAGES/PT_GeneralInfo.htm

Reverse Mortgages

Reverse Mortgage

By Gary R. Brey, Broker
Manasota Realty Inc.

Over the last ten years or so, there has been a major increase in specialty mortgages. It use to be, in the not so distant past, that you would go to the bank to get a mortgage and there was really only one kind of mortgage that you could get.

These days, you have your interest-only loans, your Sarasota home equity loans and now comes a new kind of mortgage, and it sounds almost too good to be true.

A reverse mortgage actually stipulates that you do not have to pay back a single cent of your mortgage until you move out of your Sarasota home. That’s right, you do not pay a cent until you move out. Are there catches? Well, yes, of course there is, but that doesn’t mean that the reverse mortgage won’t work for you. Let’s take a closer look at this new borrowing tool.

You have to be over the age of 60 and own your own home. A reverse mortgage wouldn’t work for a first time buyer or if you don’t already own a home. It’s more like a home equity loan, but one you don’t have to pay back for a long time.

If you pass away before you move out of your home, the cost of the mortgage must still be paid off by whoever takes possession of the home next.

A major advantage of the reverse mortgage is that there are no income requirements at all. Since you don’t have to make monthly payments, the bank completely ignores your financial situation, even if you are retired and living on a fixed income. This can be a Godsend for those that need money to improve their home but wouldn’t be able to make even the smallest monthly payments.

You have many different choices when it comes to how you want to spend this windfall. You can have a single lump sum payment sent to you for you to do what you want with. You can get a monthly payment from the bank, like getting an extra check every month. You can even use it as a credit line, much like a credit card, where you write checks up to the balance of the amount you borrowed. This can be a great option if you’re simply paying contractors to work on your home.

Most reverse mortgages are set up so that you must live in the home while you have the mortgage. Even if you still own it, if you move out and begin to rent the property to others, your reverse mortgage would come due. Of course, every bank will have their own set of rules, you should check with your local lenders to see what their rules are.

Should the equity of your home fall due to a disaster or some other unforeseen problem, a reverse mortgage can really bite you in the butt. Most people take a reverse mortgage to improve their home and build equity so that they can then sell it, pay back the reverse mortgage and still have a nice investment profit. But there are circumstances when a house’s value falls and you’re still left with the mortgage to pay back. Just because you don’t have to pay it off every month, you shouldn’t underestimate the fact that the debt is real and so is the eventual repayment.

If you know someone who might be considering one of these loans, make sure they completely understand what they are getting into before they sign on the bottom line. Since you must be over a certain age to get this mortgage, judgment can be altered due to conditions such as Alzheimer’s and other illnesses associated with age. While it is completely possible that the person getting the loan will never have to pay back a penny of its cost, that person’s children will be given the debt after they die.

A reverse mortgage can be a wonderful way for people on fixed incomes to improve their living situations. But just like any other mortgage, it will have to be paid back eventually so they should not be entered into lightly.
Sarasota Real Estate

IRAs offer way to invest in real estate

IRAs offer way to invest in real estate
By Gary Brey, Broker, Sarasota, Florida

Nothing can make your retirement account grow the way Real State Investments can. A long term, stable, steady growth… sounds like a winner for me, but guess what? It can even be purchased with “Tax Differed” dollars! Yes, you can invest your retirement account into Real Estate.

Traditional IRA’s custodians like most banks and brokerage firms, only allow you to work with traditional financial instruments like mutual funds, annuities, certificates of deposit and stocks; finding a custodian that allows you to invest in real estate will be the task. Allowed by section 408 of the Internal Revenue Code, one can purchase commercial property, condominiums, trust deeds, land and residential property among others, with funds from several common forms of IRA’s including a Roth IRA, Traditional IRAs and Simplified Employee Pension Plans commonly known as SEPA-IRA.

The owner of the IRA account cannot be the custodian of the account; so one should find a custodian knowledgeable in the area, since they will hold the title to the real estate, start a search under “Real Estate IRA” or “Self-Directed IRA”. The custodian should just holder the titles and usually do not service the account, like collect rents, take care of repairs and other similar things, he will charge a service fee, but in addition you, must have someone servicing the properties. Some will do both and, of course, you will be charge accordingly. Whichever way you decide to go, or with whom, just make sure rents are paid into the IRA and taxes are paid by the IRA account. Like everyone says, do your homework and know what you are getting into.

Most custodians allow the purchase of residential property, commercial buildings and even vacant land. These purchases can be made in conjunction with family member, partners or friends in other words you will be buying a portion of the property. According to the rules set by IRS, you cannot occupy the property not even as a vacation home, nor can your business lease an office in the commercial building owned by your IRA. The rule restricts the use of the property and to ignore the rule will cost you plenty in taxes and penalties. The property your custodian will buy with your IRA cannot be property previously owned by your, your wife or children; this is mentioned in section 4975 of the Internal Revenue Code, the “Lineal Descent” will be disqualified.

If you are adding some other funds so the custodian can purchase the property be sure to include that amount in the total due so the title company will reimburse after the closing.
Following the code the title of the property you are buying will show the custodian’s name and your IRA’s.

All income generated from the property must be deposited in the IRA account, this income will pay for all maintenance, repairs, taxes and insurance that are needed to operate de business, all those payment should be drawn from the same IRA account. A property held by you IRA custodian can be sold as long as the proceeds go back to the same account and is not sold to a lineal descent. One can continue making regular contributions into a traditional IRA account or Roth IRA account of up to 3,000 per year or 3,500 if you are age 50 or over.

At age 59 and a half you can have the custodian do a distribution and receive the property then you will have to pay taxes over the current market value of the property. This is applicable to traditional IRA accounts. However, with a Roth IRA account you will not owe a penny, very attractive if you consider that the property will appreciate with time.

Funds from most IRAs are allowed to be invested in Real Estate there are some additional benefits in addition to yield great returns:

A Roth IRA: Will give you no deductions on your current contributions, but since taxes were already taken, your withdrawals are non taxable. So if you are planning to hold Real Estate purchased from this type of retirement account know that the biggest benefit will come from long term purchases in which the property will appreciate.

A SEP IRA: This type of retirement account is designed for small businesses and self employed people. Allows for contributions up to 40,000 per year or 25% of your income which ever is smaller. This option allows for larger contributions and rapid growth to build up a fund that can afford to invest in real estate. Distributions, in this case, are taxed as regular income.

Traditional IRA: Allows for deductions directly from your untaxed income up to 3,000 per year. Distributions are considered an income hence is taxable.

Sarasota Real Estate

Eliminating 'Phantom Tax' on Foreclosures

A couple of my friends and perhaps yours are faced with losing their homes. It is a very tough time.
Please read the following article. It is important.

REALTOR® Magazine-Daily News-Eliminating 'Phantom Tax' on Foreclosures Lauded

Reverse Mortgages

Over the last ten years or so, there has been a major increase in specialty mortgages. It use to be, in the not so distant past, that you would go to the bank to get a mortgage and there was really only one kind of mortgage that you could get.

These days, you have your interest-only loans, your Sarasota home equity loans and now comes a new kind of mortgage, and it sounds almost too good to be true.

A reverse mortgage actually stipulates that you do not have to pay back a single cent of your mortgage until you move out of your Sarasota home. That’s right, you do not pay a cent until you move out. Are there catches? Well, yes, of course there is, but that doesn’t mean that the reverse mortgage won’t work for you. Let’s take a closer look at this new borrowing tool. more...

Siesta Key Beach

Too often we natives here forgot what a jewel we have in our beaches...especially Siesta Key.

In the Great International White Sand Beach Challenge of 1987, scientists studied samples from more than 30 beaches around the world before declaring that the beaches of Siesta Key were home to the finest, whitest sand in the world-a designation they still hold today. The geology department at Harvard University determined Siesta´s sand to be 99 percent pure quartz and of such a fine texture that it remains cool even during the hottest hours of a sunny day. more about Siesta Key and it's beaches

Sarasota Real Estate Taxes

Finally someone gets it! Yesterday a Florida state senator from Miami seemed to get the fact that local governments, who get their taxing authority from the State, spend too much money and tax too much. Although he praised Sarasota (he was a guest here speaking) I think Sarasota is just as bad as any government when it comes to spending my money and your money. If anyone does not think this is a problem, get yourself a copy of the Sarasota county budget. Call the county and they will send one - free of charge of course. (It only weighs about 5 lbs., by the way).

State lawmakers seem to be ready to deal with the exploding real estate taxes. Perhaps they are tired of paying taxes like we are. Perhaps they understand it is our money and not their money. If you want to kill an economy then raise taxes, vote down any new projects which would increase the tax base and tax revenue.

Local governments and for that matter any level government do not create wealth. They reduce it. But thanks in part to what may be a changing mood and tide in Tallahassee, someone is starting to get it.

What can you and I do about it? For one thing, vote. And, vote for those that would cut taxes and cut spending. Today's lawmakers at the local level somehow feel it is their mandate to create a social state where they the government exists to provide everything to everyone.

Vote for candidates who are savers and not spenders.

Documentary Stamps

The purchase or the sale of real estate in Florida is assessed a "Doc" stamp tax. Remembering that Florida has no income tax, doc stamps are one of the taxes we pay in this state as well as many other states I should mention.

The "stamps" are literally affixed to a deed in a real estate transaction. Both the seller and the buyer pay this tax - but not at the same rate.

Buyers pay $.35/$100 for new money (borrowed money) such as a mortgage. The stamps are not assessed on cash paid from the Buyer. The seller is charged $.70/$100 on the sale price of the transaction. In any deal, the payment of the "doc" stamps is negotiable.

The Buyer or the Seller can agree to compensate the other party for the stamps. It can be a last minute closing maneuver to see if one can enhance their position or it can be an upfront negotiation item. more...

Understanding The Agency Rules of Florida

Florida agency law overall is very favorable to consumers-buyers and sellers of real property in the state. Buyers and sellers do not have to face the prospect of dual agency, which is still legal in some states, thus avoiding potentially serious conflict of interest issues. Notice and disclosure requirements that are imposed upon licensed agents are clear and specific. In addition, the types of agency relationships that are allowed, single agency or transaction brokerage relationships, are clearly defined, and the duties to consumers imposed upon single agents or transaction brokers are established in detail. more info...

Florida's existing home sales down, median price down in September

Florida's existing home sales down, median price down in September

Are you interested in claiming a piece of the Sarasota real estate market? Do Sarasota homes interest you? Well, you have good reason to focus on Sarasota, Florida, despite the misleading numbers that might be given to you about the Sarasota real estate market right now. Here is a guide to the general trends of the industry so you can better understand what’s going on.

The whole country has seen a boom and small bust in the real estate industry. After an impressive year of sales, revenue has now (in 2006) declined and home construction has dropped off as well. But this downward trend is a relatively small one (in most regions) and is really indicative of a new, promising stability. Moreover, it may inspire more buyers to come to the table.

Florida, while a member of the region that has done the best in the real estate market (the South), has had some struggles. Especially due to natural events like Hurricane Wilma, South Florida has had had some steep drop offs in sales and the like. However, as a whole, it seems to be stabilizing like the rest of the country. The same goes for the Sarasota real estate market. Sarasota homes are still an in-demand item and there are some positive trends that may mean they become even more sought after in the future.

The Florida Association of Realtors (FAR) has documented the statewide decline in home sales. Basically, there's been a 34 percent decrease in sales (12,485 units were sold, as opposed to last year’s 20,451). The price of the average home in Florida only went down about 1 percent however, to $243,900. But generally, in the past five years at least, sales have increased; some homes increased in value and others decreased.

As for the rest of the nation, a similar trend is apparent, according to the National Association of Realtors (NAR). An existing single-family home went for about $225,700 in August, down only about 1.7 percent from September 2005. In California and the Northeast, the average price of a home is above this average however.

Even though 2006 will be significantly slower in pace than 2005, it still promises to be the third strongest sales year on record! This is because while 2006's numbers may be overshadowed by the housing boom of last year, they will still be high, resulting in the new stable atmosphere that is being reached right now. Assuming interest rates remain level and employment continues to increase, NAR has a positive outlook about future sales activity (it ought to be lively).

Even though Sarasota homes have seen declining sales this year, the Sarasota real estate market is merely reflecting the overall national trend. Even Miami sold 100 less units this year as opposed to last year. So it's not much to worry about. Prices, as a whole, are leveling out and this is something to keep in mind when judging the Sarasota real estate market.

Sarasota is the cultural heart of Florida and a popular tourist destination to boot. So it still has great potential, despite the inevitable slowdown in pace. In fact, it may even have a significant increase in sales in the coming years, as baby boomers start to buy second homes in states that sport great vacation spots -- like Florida (and consequently, Sarasota!).

Not to mention, the recent decline in condo ownership may start to rise again, as a result of this. Anything's possible in real estate. Coastal cities have especially dynamic real estate markets, as they are vulnerable to unpredictable natural disasters and off the heels of Hurricane Katrina, this now seems truer than ever.

The smaller markets in Florida -- like Pensacola -- have actually flourished, which is a good sign for other cities in the state, including Sarasota.

Overall, in Florida, the real estate will always be in-demand and other factors like interest rates and mortgage rates are not too shabby, so the conditions aren't bad for the industry. Likely, the state will see another subtle rise in sales and find a comfortable pace, including the Sarasota real estate market.

Time for new property tax?

Maybe it is time for a new approach to taxing real estate and still keep necessary funds coming into local government. Necessary is the operative word.

What is necessary?

How much money do we really need to operate the county? I think it is a lot less than we spend now. By the way, where is the budget? Is it printed for examination? I need to look into these things.

Ok, ask yourself, should voters have more of a say in certain county expenditures - like purchasing land for one thing or funding public enterprise like the Van Weezel. Do we need to buy land as a public body which is not intended to be used for public service? I don't think so.

Should certain services like trash pick-up be turned completely over to private enterprise including the billing? If I am gone for awhile, why should I pay for the trash truck to come by my house? I think this is one area we could cut out of the county budget and pay as you go.

Another service could be the park and beach maintenance service including the lifeguards. Private enterprise could do a lot better job and charge the county a lot less money. No jobs are being lost. They are just being transferred to private enterprise.

I have never seen a public service that could not be better served through private enterprise? How about schools? You want better results in schools? Get rid of the public administration and the teacher unions. Let private contractors run our public schools and for that matter our fire departments. The airport just saved a ton by going to a private fire department.

I think there are many answers to the outrageous real estate taxes in Florida, which are workable. We just have to have enough people stand up and say "no more".

Sarasota Real Estate: Today´s Early-Bird Special

It seems like only yesterday when Florida retirees were lining up for early-bird dinner specials. A couple of things have come together to change that retirement picture - the appeal of Sarasota real estate and the vitality of the baby boomer generation. more...

Senior Buying Trends

A new study shows sales of second homes property and vacation homes make up a significant portion of the overall housing market. Recent findings by survey groups interested in determining the buying trends of senior citizens as far as real estate are proving empirically that which most of us tend to already know subconsciously: the older we get, the less likely we are to want a change. more...

Florida Existing Home Sales

Florida's existing home sales down, median price softens in September

Are you interested in claiming a piece of the Sarasota real estate market? Do Sarasota homes interest you? Well, you have good reason to focus on Sarasota, Florida, despite the misleading numbers that might be given to you about the Sarasota real estate market right now. Here is a guide to the general trends of the industry so you can better understand what’s going on.

The whole country has seen a boom and small bust in the real estate industry. After an impressive year of sales, revenue has now (in 2006) declined and home construction has dropped off as well. But this downward trend is a relatively small one (in most regions) and is really indicative of a new, promising stability. Moreover, it may inspire more buyers to come to the table.

Florida, while a member of the region that has done the best in the real estate market (the South), has had some struggles. Especially due to natural events like Hurricane Wilma, South Florida has had had some steep drop offs in sales and the like. However, as a whole, it seems to be stabilizing like the rest of the country. The same goes for the Sarasota real estate market. Sarasota homes are still an in-demand item and there are some positive trends that may mean they become even more sought after in the future.

The Florida Association of Realtors (FAR) has documented the statewide decline in home sales. Basically, there's been a 34 percent decrease in sales (12,485 units were sold, as opposed to last year’s 20,451). The price of the average home in Florida only went down about 1 percent however, to $243,900. But generally, in the past five years at least, sales have increased; some homes increased in value and others decreased.

As for the rest of the nation, a similar trend is apparent, according to the National Association of Realtors (NAR). An existing single-family home went for about $225,700 in August, down only about 1.7 percent from September 2005. In California and the Northeast, the average price of a home is above this average however.

Even though 2006 will be significantly slower in pace than 2005, it still promises to be the third strongest sales year on record! This is because while 2006's numbers may be overshadowed by the housing boom of last year, they will still be high, resulting in the new stable atmosphere that is being reached right now. Assuming interest rates remain level and employment continues to increase, NAR has a positive outlook about future sales activity (it ought to be lively).

Even though Sarasota homes have seen declining sales this year, the Sarasota real estate market is merely reflecting the overall national trend. Even Miami sold 100 less units this year as opposed to last year. So it's not much to worry about. Prices, as a whole, are leveling out and this is something to keep in mind when judging the Sarasota real estate market.

Sarasota is the cultural heart of Florida and a popular tourist destination to boot. So it still has great potential, despite the inevitable slowdown in pace. In fact, it may even have a significant increase in sales in the coming years, as baby boomers start to buy second homes in states that sport great vacation spots -- like Florida (and consequently, Sarasota!).

Not to mention, the recent decline in condo ownership may start to rise again, as a result of this. Anything's possible in real estate. Coastal cities have especially dynamic real estate markets, as they are vulnerable to unpredictable natural disasters and off the heels of Hurricane Katrina, this now seems truer than ever.

The smaller markets in Florida -- like Pensacola -- have actually flourished, which is a good sign for other cities in the state, including Sarasota.

Overall, in Florida, the real estate will always be in-demand and other factors like interest rates and mortgage rates are not too shabby, so the conditions aren't bad for the industry. Likely, the state will see another subtle rise in sales and find a comfortable pace, including the Sarasota real estate market.

Identity Theft Ring Operates in Florida

Identity theft ring targets real property
MIAMI -- Oct. 25, 2006 -- For the last few months an identity theft ring has been targeting property owners, mortgage lenders and the title insurance industry -- an international scheme in that many of the suspects appear to be of Eastern European origin and much of the stolen money is being wired to accounts in Greece, the Slovak Republic, Russia, Latvia and elsewhere.

The scheme involves absentee-owned property and includes both vacant land and improved residential and commercial properties. In most of the cases reported, the true owners reside outside Florida. Additionally, in some of the cases, the properties are listed for sale through the local Multiple Listing Service (MLS).

"This involves millions and millions of dollars, and it's all over the state -- not just South Florida," says Doug Pollock, 
President and Founder of Information Data Services, Inc.IDS, (http://www.idsnetwork.com) which serves the legal, corporate, title insurance and mortgage lending industry.

The refinance scheme

The perpetrators assume the identity of the real property owner and obtain a physical mailing address (always a "mail drop location") in the community near the residence of the real property owner. They then contact a mortgage broker or lender as well as a title agent to originate and close a new refinance mortgage loan using the identity of the real owner. In most cases, the properties are owned free and clear of any liens or mortgages of record.

After receiving loan approval from a mortgage lender, the perpetrator then contacts the title agent and requests that they either transmit the closing documents to one of the Internet's free e-mail addresses or the mail drop address. After the executed closing documents have been returned to the title agent, the perpetrator provides written instructions for the agent to wire the loan proceeds to bank accounts held outside the United States, mostly in Eastern European countries.

The foreign banks accounts were previously opened based on fraudulent identification, and shortly after funds are deposited, they're withdrawn in cash.

Many times, the perpetrators attempt to defraud more than one lender using the same property as collateral. A different title agent is used for this second loan; and both closings must occur at almost the same time so neither settlement agent is aware of the other closing until after the funds have been disbursed and the money has left the country.

Similar characteristics of Florida cases

1. All contact with the perpetrators is by telephone or e-mail. There is no personal contact. They will refuse to attend a closing or come by the office to pick up a check.
2. They require the settlement agent to execute a letter agreeing that they will wire the proceeds from the closing to bank accounts held outside the United States.
3. All contact addresses provided are " mail drop box" locations.
4. All telephone numbers provided are pre-paid cell phones and are untraceable.
5. All identification provided are fraudulent driver’s licenses and do not bear the likeness or resemblance to the identity theft victim.
6. The proceeds from each of the closings exceed $300,000.

Source: Information Data Services Inc.
© 2006 FLORIDA ASSOCIATION OF REALTORS®

What if ...the Buyers tries to Break the Deal?

To purchase a property, a buyer must make an offer of the amount he is willing to pay. This offer may be what the seller is asking, but often times is lower, in which case a negotiation ensues between the parties. Such negotiation is typically conducted between buyer’s and seller’s respective representatives, either attorneys or realtors, and concludes when a mutually-acceptable sale price is reached.

A buyer can change his mind about the purchase of a property for any reason up until the time a seller accepts an offer. Sometimes, a seller will accept immediately. When negotiations occur, it can take some time to reach an agreed-upon final purchase price, in which case the buyer can back out of the negotiations prior to receipt of a document from the seller or his representative indicating acceptance of the most recently presented offer.

In the real world Buyers sometimes try to reneg. Learn More

Sarasota Fishing

On Saturdays, in the early morning, radio talk shows in Sarasota devote time discussing fishing in Sarasota. If you are a fisherman, visit my website for a complete list of charter fisherman in the area along with some information about the Sarasota fishing waters. ...

Canadian Buyers & Sellers

If you are a Canadian and thinking of purchasing property here in Sarasota or perhaps selling Sarasota property you already own, I put together some very basic information for you on my website. You can review this information by going ... (HERE)

New Homes - No Money Down for Civil Servants

Stephen Frater in the Hearld Tribune reports today that Neal Communities along with Sun Partners Mortgage are offering a special deal for public employees in the two counties.

Teachers, firefighters, city and county employees can receive special financing options on the new town homes in Forest Creek. Full financing is available with no down payment and no closing costs, with payments as low as $1,140 a month.

The offer is good through Oct. 31.

Forest Creek, the latest Neal community, is a 135-acre planned residential community five miles east of Interstate 75 on U.S. 301 near Parrish.

Free downtown valet parking in downtown Sarasota

Beginning Oct. 19, a free, central valet parking service will open to the public. The central valet parking will operate Mon – Fri, 3:00 pm to 2:00 am and Saturday- Sunday, 9:00 am to 2:00 am. Downtown employees and customers can drop off their cars at one location and pick up their cars at the same or different location.

Locations: Main St/ Orange Ave; Main St/ Lemon Ave; Main St/ Pineapple Ave (Five Points); Main St/ Palm Ave; Palm Ave (near Caraguilo’s). Currently the valet service is privately funded, but funding alternatives may be explored in the future.

Do we need more taxes in Sarasota?

Do we need more taxes here in Sarasota? If one thinks we do then vote for Jennings in the upcoming election.

Should America cut and run out of Iraq? Should America wait and fight the terrorists here on our soil? If yes then vote for Jennings.

Do Seniors need more taxes like the death tax? Yes? Vote for Jennings.

Does America and 3,000+ fallen heroes "deserve to lose" in Iraq as Democrats claim? Vote for Jennings.

Do you want the Democrats defending us against North Korea? Yes? Vote Jennings.

But if you think the economy is in better shape, growing at 3-4% a month and the war on terrorism is better fought in the middle east and North Korea is a lot more than an idol threat, and unemployment which is at an all-time low is a good thing, then get out and vote for Vern Buchanan and bring a friend.

Enough taxes already.

Sarasota Real Estate Market

Herein is a wealth of information relating to the Sarasota real estate market. Please email your questions to: gbrey@comcast.net

Sales Drop - Prices Increase

Today's paper reported on the current home/condo sales market.

Right now if you are a seller here are some tips too ... have the home inspected now and make all necessary repairs. You have a lot of competition out there.

As always get rid of the clutter. Paint. Clean the windows and carpet, tile and grout. Make your garage sparkle. Have your driveway pressure washed and even painted.

Back to the article...

While single-family home and condo sales continued their slump in September compared to a year ago, prices are on pace to show a 12 percent to 14 percent gain.

"Unless there is a downturn in the last three months, the annual appreciation for 2006 will be between 12 percent and 14 percent, comparable to levels in 2003," Dale Friedley of the Manatee County Property Appraiser's Office said in a press release that accompanied sales figures for September and the third quarter.

The market is likely returning to where it was in 2002-03, and "one can regard the market of 2004 and 2005 as an aberration," Friedley said, adding that the fourth-quarter numbers will be key to determining price trends. Locally, home sales in September slid 37.2 percent from last year. Condo sales tumbled by 73.6 percent.

The median cost of homes and condos climbed slightly but not by the leaps and bounds seen in 2004 and 2005. The median price of condos climbed to $209,900 and single family homes escalated to $309,000.

Manatee County set to continue to move forward

As Sarasota county "sits and studies" things, Manatee County plans to once again expand its tax base.

Schroeder-Manatee Ranch is looking past the current soft housing market and proposing two massive developments that could bring more than 8,000 new homes to Lakewood Ranch. Both developments are slated for open pastoral northeast of the intersection of Lakewood Ranch Boulevard and State Road 70, near the stalled hockey arena project.

The 8,100 new homes would add to the roughly 6,000 already built in Lakewood Ranch, and were part of the Ranch's original master plan that extends over 30 years and could lead to development of 7,000 acres.

The new expansion would also contain over 300,000 sq' of commercial space as well. This translates into more jobs and more tax payers. Of course Sarasota County continues to "study' and I believe tries to find a way to keep people out of our area. But, this is what you get when one elects the bone-head type of leaders we seem to continually put in office here in Sarasota.

Sarasota new home sales

NEW HOME SALES
Sales of new homes posted the biggest increase in five months in August, raising hopes that the steep slide in the housing industry may be leveling off. Sales of new single-family homes increased by 4.1 percent -- far better than the 3 percent decline economists had expected.

3 Million dollars of Your Tax dollars

This morning I read the following in the paper...

County commissioners on Tuesday OK'd a controversial $3.1 million purchase of land on the Myakka River, arguing that multimillion-dollar homes would be built on the pristine site if it isn't protected.There wasn't a single mention, though, of what has made the purchase controversial during the past two months -- that Tamara Ley, wife of County Administrator Jim Ley, is the real estate agent on the deal.

Commissioners felt that issue was resolved last month when Tamara Ley promised to either donate her $45,000 commission to charity or not take a commission on the deal, said Commissioner Jon Thaxton. The deal has also been criticized because the owner, Myakka Properties, bought the property 19 months ago for $650,000 and the price has since nearly quintupled.

The land had been targeted for acquisition by the county's environmentally sensitive lands program since 2000. But the county's agent, The Nature Conservancy, had failed to close a deal at a time when the land was much cheaper.

What the heck is going on? In these days of soaring insurance rates and soaring utility increases, why in the world would we spend 3 million dollars on land that potentially could generate more income to the county? Who in their lifetime or their children's lifetime will every even see this land let alone use it?

I bet if this purchase was financed by raising the local sales tax - it would never happen. In fact, thinking about it, that is exactly what should be done. Cut the real estate taxes so people are not taxed out of their homes and raise the sales tax. Then we'll see how the anti-growth geniuses manage a budget. Now they spend money like it is their own...

Tax notices are out

The property tax notices (Trim notices) are coming out again. Guess what? Taxes didn't go down... For non-resident owners they really didn't go down. They exploded.

What is up with the commissions in this area - city and counties. Why can they figure out how to generate money without raising taxes? Why can't they figure out how and when to build schools that don't go empty? Why can't they figure out we don't need more parks and conservation lands? Why can't they figure out how to roll back actual property taxes to 2002 and live within that income?

Prop 13 worked in California years ago - rolling back taxes - and it can work here in Sarasota. One would think Jimmy Carter was the president and that interest rates were 20% and inflation soaring and unemployment at 9%.

Frankly, who can afford to own a house any more? The monthly insurance payment and monthly tax payment almost doubles the house payment. Even if we social engineer an affordable housing plan, who will be able to afford the taxes or the insurance? Oh, we don't charge them taxes? Says who? Do we get to vote on that? If not - why not?

If you really are looking for a way to get your blood pressure up, watch the commissions in action and listen to these idiots discuss how to spend our money. It is a joke. These people have no idea about economics. They have no idea how to generate money into the community besides raising our taxes. Of course they have wonderful ideas how to spend money.

Maybe it is time for some new ideas ... try these on for size...

I would roll back real estate valuations & taxes to 2002 and cap them at 2% maximum increases for everyone and raise the sales tax to 9%. Yup 9 %!

I would approve all developments coming into the area as fast as we could.

I would call the Cincinnati Reds and tell them everything is a go!

I would not buy another piece of property - what the heck is the government doing owning property in the first place? Sell every piece of county or city property owned now.

I would sell and lease-back for 99 years all municipal buildings like the post office does.

I would charge for parking at the beaches.

I would stop picking up trash 2 x's a week in the city. My trash gets picked up once a week and everything seems to be just fine.

I would roll-back the commissioners salaries to 2002 plus inflation.

that's my 2-cents... what's yours?

Van Wezel schedule for 06 - 07

Van Wezel performing arts has posted their schedule for the up-coming 2006-2007 year. It looks like a 'can't miss' season.

In looking over the schedule I noticed the Smothers Brothers are booked. Tom Smothers lives in Sarasota. I had the pleasure of meeting him casually and he is a great guy. Of course his show is as great as ever.

Van Wezel 2006-07 season schedule

Sept. 29-Oct. 1: "The Producers." $55-$75.
Sept. 29: Premiere party. $150 per person, includes preferred seating to "The Producers."

Oct. 7: "The Snow Dragon." $7.
Oct. 8: Dennis Miller. $49, $59.
Oct. 14: Superstarzz featuring Ray Parker Jr., Craig Chaquico and Warren Hill. $30- $40.*
Oct. 24-25: "Annie." $45-$55.

Nov. 2: "Wait Wait ... Don't Tell Me!" $25, $35.
Nov. 4: "Triple Threat" with BlackHawk, Little Texas and Restless Heart. $39, $49.
Nov. 5: Paula Poundstone with Chris Bliss. $29, $39.*
Nov. 7: The Conga Kings. $25, $30.*
Nov. 10: Trisha Yearwood. $45-$65.
Nov. 11: Leo Lionni's "Swimmy, Frederick, and Inch by Inch." $7.
Nov. 15: The Temptations and The Four Tops. $55- $65.
Nov. 16: Mozart Festival Opera: "Don Giovanni." $45- $55.*
Nov. 17-19: "Hairspray." $55-$70.
Nov. 20: The Pink Floyd Experience. $29, $35.*
Nov. 24: Smothers Brothers and Judy Collins. $45, $55.
Nov. 25-26: "Jesus Christ Superstar." $45-$65.
Nov. 27: Perlman Music Program Young Artist Recital Series: Giora Schmidt. $20. (Mertz Theatre at the FSU Center for the Performing Arts.)

Dec. 1-3: Cirque Dreams, "Jungle Fantasy." $35, $45.
Dec. 1: Sixth Annual Van Wezel Foundation Gala: Cirque Dreams, "Jungle Fantasy." $250 and up.
Dec. 4: "A Rockapella Holiday." $30, $35.*
Dec. 5: "A Scottish Christmas" with Bonnie Rideout. $25, $35.*
Dec. 6: "Cool Jazz Christmas" with David Benoit, Jonathan Butler, Michael Franks and Kirk Whalum. $45-$55.
Dec. 8: George Carlin. $45, $55.
Dec. 12: "The Colors of Christmas" with Peabo Bryson, James Ingram, Stephanie Mills and Deniece Williams. $45- $65.
Dec. 13-14: "Wonderful Towns." $45, $55.
Dec. 15-16: "Altar Boyz." $35, $45.
Dec. 17: Tony Bennett. $75, $85.
Dec. 18: Mandy Patinkin with Paul Ford. $40-$60.
Dec. 19: "The Big Band Broadcast." $25.
Dec. 23-Jan. 5: The Perlman Music Program.
Dec. 19-24: "Plaid Tidings." (Presented at Players Theatre Dec. 19-22.) $30.*
Dec. 27: The Manhattan Transfer with John Pizzarelli. $45, $55.
Dec. 28: Jackie Mason. $40-$50.
Dec. 29-31: "Man of La Mancha." $45-$65.
Dec. 31: New Year's Eve party post-show: $200, includes preferred seating to "Man of La Mancha."

2007:

Jan. 1: "Salute to Vienna." $39-$69.
Jan. 2: Perlman Music Program "Celebration Concert." $40-$60.*
Jan. 3: State Ballet Theatre of Russia: "Cinderella." $45, $55.*
Jan. 8-9: Elton John and Tim Rice's "Aida." $45-$65.
Jan. 10: Frankie Valli and The Four Seasons. $49, $59.
Jan. 13-14: Willy Bietak's "Broadway on Ice." $35-$55.
Jan. 16: "Joseph and the Amazing Technicolor Dreamcoat." $45-$65.
Jan. 17: Michael Feinstein with Robert Klein. $45-$60.
Jan. 18: Johnny Mathis. $65, $75.
Jan. 19: Circus Sarasota. $7.
Jan. 21: Peter Appleyard Quintet. $25.
Jan. 21: Joshua Bell and Jeremy Denk. $45, $55.
Jan. 24: Paul Taylor Dance Company. $35, $45.*
Jan. 26: " I Can't Stop Loving You." $40-$50.
Jan. 27: Band of the United States Air Force Reserve. Free.
Jan. 28: Hungarian Symphony Orchestra. $65-$75.
Jan. 29: Neil Sedaka. $45, $55.
Jan. 31: "Drum!" $35-$45.*

Feb. 1: Tango Pasion. $25-$55.*
Feb. 4: Maynard Ferguson and his Big Bop Noveau Band. $25.
Feb. 5: Hamburg Symphony. $65-$75.
Feb. 13: Academy of St. Martin in the Fields. $65-$75.
Feb. 16: Chicago Symphony Orchestra. $65-$75.
Feb. 17: Tom Chapin. $7.
Feb. 19: Hubbard Street Dance Chicago. $35, $45.*
Feb. 19: Perlman Music Program Young Artist performance: Kristin Lee. $20. (Mertz Theatre at the FSU Center for the Performing Arts.)
Feb. 20-21: "Riverdance." $50-$65.
Feb. 22: Liza Minnelli. $65-$85.
Feb. 23: Kris Kristofferson and Rosanne Cash. $45, $55.
Feb. 25: "The Jazz Singers" featuring The Tierney Sutton Band and Carol Welsman. $25.
Feb. 25: Melissa Manchester. $30, $35.
Feb. 26: Les Ballets Trockadero de Monte Carlo Dance Company. $35-$45.
Feb. 27: Hal Holbrook in "Mark Twain Tonight." $35, $45.*
Feb. 28: Atlanta Symphony. $65- $75.

March 3: "Keep the Beat!" $7.
March 4: André Watts. $35-$55.
March 4: Doc Severinsen and his Big Band. $35-$45.
March 6: "Bowfire." $40- $50.
March 8: New Orleans Jazz Orchestra. $25.
March 9: The Beach Boys. $49-$69.
March 10: Neil Berg's "100 Years of Broadway." $25.
March 11: Itzhak Perlman. $65, $75.
March 12: Paul Anka. $55-$65.
March 14-18: The 27th Annual Sarasota Jazz Festival.
March 14: "Jazz on the Bayfront." Free.
March 16: Eartha Kitt. $40, $50.
March 17: The Four Freshmen. $25.
March 17: Dick Hyman and Friends. $32, $39.
March 18: John Pizzarelli and The Swing Seven. $29, $35.
March 18: The Count Basie Orchestra. $25.
March 26: Carl Rosa's "Pirates of Penzance." $45, $55.*
March 30: "Les Folies Russes." $40-$50.

April 1: National Philharmonic of Russia. $65-$75.
April 3-8: "Mamma Mia!" $55-$75.
April 9: Russian National Ballet Theatre and Orchestra: Sergei Prokofiev's "Romeo & Juliet." $45, $55.*
April 10: Hungarian State Folk Ensemble. $35-$45.*
April 12: Nana Mouskouri's Farewell Tour. $45, $55.
April 14: Tom Jones. $55-$75.
April 15-21: Festival Diapente.
April 15: "Breakfast with the Arts (Cà d'Zan, Ringling Museum of Art.)
April 15: "Family Fest on the Bay." Free.
April 15: Kenny Loggins. $55, $65.
April 16: Perlman Music Program Young Artist performance: Rebecca Albers. $20. (Mertz Theatre at the FSU Center for the Performing Arts.)
April 17: "Selby Wine Tasting Under the Banyans."
April 17-22: Steve Solomon's "My Mother's Italian, My Father's Jewish and I'm in Therapy." $35.* (Presented at the Players Theatre April 17-20.)
April 18: Ragamala Music and Dance Theater. $25, $30.*
April 24-29: "Pluck in 'The Specialists.'" (Presented at the Players Theatre April 24-27.) $30.*
April 28: "Hänsel and Gretel." $7.
April 30: Key Chorale and Van Wezel present Giuseppe Verdi's "Requiem." $22-$42.

Mortgage Rates Fall Again

Mortgage rates around the country dipped for a third week in a row, pushing 30-year mortgages to their lowest level since April.

Mortgage giant Freddie Mac said Thursday that 30-year, fixed-rate mortgages fell to 6.55 percent this week, down from 6.63 percent last week.

That was the lowest level for 30-year mortgages since they averaged 6.53 percent the week of April 20. Since that time, mortgages have been rising, hitting a more than four-year high of 6.80 percent the week of July 20.

Spring Baseball is good for Sarasota

In case you are not aware of it, Spring Major league baseball is in danger of being thrown a real curve by the Sarasota city commission.

The Cincinnati Reds ( our team) needs new facilities. They are willing to chip in about 10 million dollars. The State will give us another 15 mil. The City which I think is awash in funds because of property value increases the last few years is balking. Who are the geniuses anyway? Certainly not business folks who know anything about economics and business.

How can we continue to elect retired school teachers and "socially responsible" nerds to the Commissions of this area?

Our local commissions spent 15 million dollars for parks last year. When is the last time you went to a park or drove by a park and saw anyone there using the facilities? (By the way, take the park lands and build some afforable housing)

If we lose the Reds we lose a big economic draw for the area. Call someone today and let them know how you feel. After all its your city - and your money. You just don't get to spend it - just pay it.

Finally some good news from the Fed

This time there was some drama over what the Federal Reserve's Open Market Committee would do.

In the end, they decided to stand pat, a decision that creates winners and losers.

Here is a rundown of how different types of borrowers and savers will be affected:

Adjustable-rate mortgage holder or shopper: Winner

Rates on adjustable-rate mortgages, or ARMs, had been rising as an indirect consequence of the Fed's rate increases. Now that the Fed has stopped or at least paused, rates on ARMs are likely to follow suit. If your ARM adjusts every six or 12 months, the rate almost certainly will rise when the adjustment period arrives, but not as much as it otherwise would have. If you recently got a hybrid loan such as a 5/1 ARM, in which the initial rate lasts five years, your rate won't go up immediately.

Fixed-rate mortgage shopper: Winner (possibly)

If you already have a fixed-rate mortgage, the Federal Reserve's decision won't affect your monthly house payment. If you don't have a fixed-rate mortgage yet and you're shopping for one, you're in the middle of a waiting game. It's too soon to know how the Fed's pause will affect long-term fixed-rate mortgages. Rates might hold steady, following the Fed's lead. But if investors conclude that the central bank isn't zealous in fighting inflation, long-term rates could rise in the coming weeks and months.

Home equity line of credit borrower: Winner

Home equity lines of credit, or HELOCs, feature variable rates that move up and down roughly with the prime rate. The prime rate will remain 8.25 percent, so your HELOC rate is likely to remain unchanged, too.

Home equity loan shopper: Winner

Homeowners who already have home equity loans aren't affected either way, because these loans have fixed rates. Home equity loan rates have been rising gradually this year. There is no guarantee that they will stop rising, but it's the most likely outcome.

Certificate of deposit investor: Loser

We knew the Fed couldn't keep going forever. Whether this latest Fed action represents a pause in rate hikes or an all-out end to the trend, it doesn't necessarily mean that CD yields on shorter-term maturities will stop dead in their tracks. The need for deposits could spur some institutions to continue offering attractive yields. But more likely, we'll see banks pushing consumers toward longer maturities with better yields on the long end of the yield curve and skimpier returns on the short end.

The average yield on a six-month CD is at 3.57 percent, a hefty 10 basis points above its mid-July average. Today's average yield for a five-year CD is 4.3 percent, an increase of only 2 basis points since mid-July. In general, expect that scenario to reverse with longer-term CDs seeing heartier gains while the red-hot shorter-term sector cools off considerably.

Also of interest, as surveyed by Bankrate.com, the average yield on a three-month CD is 2.87 percent and the average yield for a one-year CD is 3.83 percent.

For the immediate future, CD buyers may want to stick with short maturities. But keep an eye on high-yields that are offered in your neighborhood or on Bankrate's 100 highest yield page to find the best returns across all maturities from around the nation. You might find some long-term CDs at 6 percent or better that are worth locking up.

Auto loan shopper: Winner

New-car loan rates have been inching up in the past month, but with incentives and manufacturer rebates, shoppers can still make some deals.

New-car rates for five-year loans have increased 0.10 percent to 7.98 percent since the Fed meeting in June, a response to that rate-hike raise. The average interest rate on a 36-month used-car loan has declined since that meeting and it's been holding steady at 8.91 percent. With the Fed holding the prime rate at 8.25 percent, car-loan rates should hold their ground, too.

Since fall is traditionally a peak car-selling season, car buyers are likely to find deals on last-year's models or be able to take advantage of the millions of dollars in rebates most manufacturers are offering.

Credit card debtor: Winner

With the Fed holding the prime-rate line, credit card holders should tackle their debt.

If you hold a variable-rate card, there's a good chance your rate will remain the same for a while. The average standard variable credit card rate stands at 14.72 percent, up nearly 0.50 percent since the June Fed rate hike.

The average rate for standard fixed-rate cards has been sitting at 13.08 percent since March and will probably stay there.

This may be a good time to look at switching from a variable-rate card to a fixed-rate card. If you do, be sure you transfer your balance to the new card carefully to avoid fees.

Jade Homes

I have a customer who unfortunately was building with Jade homes in Rye Wilderness. He was told today they have filed for bankruptcy. He had more than $175,000 on deposit with these people.

Jade was not a new company. Their were two brothers who ran the business, according to their website. Maybe the situation will resolve itself somehow.

Real Estate Companies

I decided to form an individual local real estate company versus buying into a franchise for several reasons. One is that many real estate companies are actually owned by one company. See below...

Cendant Corp. is no longer affiliated with real estate. The company broke away its real estate operations into a new company, Realogy, with the spinoff official this past Monday. Realogy is now the corporate franchiser for Century 21, Coldwell Banker, Coldwell Banker Commercial, ERA, Sotheby's International Realty, NRT Inc., Cartus and Title Resource Group.

Realogy stock had been traded on a "when-issued" basis since July 19, but began active trading on Monday. Realogy's single-letter ticker symbol "H" was chosen to represent "homes," with the one-letter symbol symbolic of Wall Street's belief in the company's corporate strength. In 2005, Realogy posted revenue of $7.1 billion and net income of $627 million. The company's stock is part of the S&P 500 Index.

Realogy Vice Chairman and President Richard A. Smith, Chairman & CEO Henry R. Silverman and other company executives rang the bell at the New York Stock Exchange this morning.

Realogy is a coined word resulting from the fusion of "real estate" and "logy," meaning "the study of" real estate. It's pronounced "REEL-uh-jee."

Selling in a Slow Market

A drop-off in buyer demand and rising home inventories has made putting a house on the market trickier for home owners whose properties appreciated during the boom and who hope to retain their gains, says a new report on RealEstateJournal.com, The Wall Street Journal's guide to property. The RealEstateJournal.com offers these tips for selling a home in a cooling market:

1. Size up the playing field. Study your local market and investigate other homes for sale, local asking prices and what buyers are paying.

2. Price competitively. If a home is overpriced, a buyer will dismiss it and move on to the next one. Price a residence just below what the market will bear.

3. Do your legwork. Use the Internet and networking to locate a buyer.

4. Don't delay. Point out to a seller that even if an offer isn’t all he had hoped, taking it instead of waiting for a better deal can save money in the long run.

5. Negotiate. Offer concessions to potential buyers, such as making minor fixes. Small expenditures speed a sale and, ultimately, preserve price gains.

6. Play up a home's assets. Impress buyers with a repainted interior, clean closets, nice landscaping and an orderly garage.

Builders holding to 2005 Prices

For the most part, builders are holding to their 2005 prices. Many are advertising 'huge reductions' which simply translates into prices are the same this year as last year. Does this mean that the 2005 home buyer from last year has lost money. The short answer is no. What is does mean is that appreciation has settled in at pre-2002 levels or about 6-8% per 18 months.

In the long run this should be good news for homeowners. Their property values are going to be on sound footing and when the time comes to sell there will be a larger pool of potential buyers.

Title Insurance in Florida is too high!

Florida plans to embark on a comprehensive study of title insurance rates after a preliminary report by the state Office of Insurance Regulation revealed that homeowners are paying premiums of up to 136 percent more than consumers in other states pay for comparable coverage.

A recent expansion in building and mortgage refinancing is partly responsible for the 310-percent increase in title insurance premiums from 1995, to a total of $1.8 billion in 2004, with $2,048 being the average cost of title insurance -- which now accounts for about 14 percent of settlement costs.

Fidelity National Financial, Attorneys Title, First American Title, Land America, Stewart Title and Old Republic wrote 99 percent of premiums in the state in 2004.

"We will combine the data from this study with an analysis of what consumers are presently paying to set fair and accurate rates for this industry," Florida Insurance Commissioner Kevin McCarty said in a statement.

Builders Slash Prices or Do They?

There was article in yesterday's local paper about national 'spec' builders slashing prices. A spec builder, as opposed to a custom builder, builds houses without them being sold. In the past few years, the 'spec' builder had the ;luxury of actually being a custom builder - in other words they could pre-sell everything they could build.

Back to the subject. Yesterday's article indicated that builders were slashing prices by several thousands of dollars. At first glance one would think this is a disaster in the making for both the local real estate market and for those Buyers who recently purchased. However, the article could have just as easily been titled "Builders hold firm on 2005 prices for 2006".

Basically, what these builders have done in the past is raise their prices 2-3% or more a month. Demand was that great. In fact, the prices in Sarasota were low for many years compared to other Florida prime areas such as Naples, Miami, Boca Raton etc. The market was seeking its top level. When demand cooled last Summer/Fall, the builders kept increasing the prices past the point where there were Buyers. At the same time, the spec builders kept building their homes - but they stopped selling after the first of the year.

So the builder "slashes his prices" by 20-25% the percentage he has been increasing his prices - which can amount to 50,000 to $100,000 . However these selling prices are the the same as their 2005 prices.

Bottom line is the article could have been headlined "Builders roll-back prices to 2005".

US Homes Introduces Guaranteed Price Program

US Homes and Lennar try to boost sales with their new guaranteed price program.
As a means to encourage buyers to move forward and sign a contract for a new home rather than wait to see if prices will come down, Lennar Corp. which is located in Miami and US Homes are making a commitment to prospective buyers if prices come are reduced before the closing of your purchase, you will receive the lower price.

In the alternative, if the prices go up, the buyers cost will not go up and the company will honor the original contracted price. It is a good deal for both parties I think. This guaranteed price contract applies to the cost of the home but not to any upgrades. In addition, the program is only for owner-occupied housing.

Sarasota Property Values Rise

Property values rose about 10% in Sarasota versus a year ago. Although sales of both condos and single family homes were down, there is no bubble bursting or crash of the real estate market. In fact yesterday the Sarasota MLS reported a 1 day year high of 62 new sales contracts being written. This is a good 1 day absorption rate for the market.

FSBO Sellers in Florida

In 2005, most FSBO (For sale by Owner) sellers reported they #1 reason they tried selling their home without using an agent was to save the real estate commission. No surprise here. What may be a big surprise is how much money a FSBO really saved or lost by not using an agent.

According to a vast study conducted in Florida, the average FSBO seller was pretty successful for the year 2005 in terms of successfully selling their single family home. So this should be good news right if you are selling your property on your own? Well, before one jumps to this conclusion they better consider the following "rest of the story" about what happened in 2005.

In 2005, while attempting to save the 7 or 6% commission, the average selling price for a Florida home, by those not using an agent, was 18% less than those sellers who did use a Realtor. That is a huge difference. In fact this is a 11-12% net difference. I guess the old adage "If it seems to be too good to be true ..." Can really hurt your pocketbook when it comes to selling without using a professional agent.

Sellers Beware. The money you lose could definitely be yours!

6-Month Prices for Lakewood Ranch

On my website (Sarasotagroup.com) I have updated the real estate prices for many of the Sarasota neighborhoods. Included is Lakewood Ranch real estate. The facts reflect what I believe is a very healthy state of affairs. Sellers are coming to realize that the days of 30% appreciation are gone. Rather, there is a very nice 7-12% market growth as measured over the last 12-16 months. For more information including graphs see ... Lakewood Ranch real estate

Sarasota real estate taxes

The real estate taxes in Sarasota are too high. Maybe it is time for the voters to start electing people with a background in business and finance instead of retired teachers and community activists.

The county should be awash in money. With property values at an all time high, where is all of the money being spent? I have no idea. I am lax in that I have not really examined our budget. However, I do know that all we hear about is how much more money the public servants always need.

As an example, we hear about the needs of our schools but then we find out they mis-judged the number of new students coming into our schools. Another issue is why do we need to pay 10 million dollars for additional park lands which is something they did this past year? Every park I drive by seems to be always be pretty much empty.

I think we should roll back real estate taxes to 2002 and make them portable - meaning the home owner can take them to their next property. This would also help solve the issue of affordable housing. Right now people are not moving up because they can't afford the taxes.

Lets hope something changes.

Check Out the Theatre Odyssey

For a great time, explore the Theatre Odyssey on North Tamiami Trail in Sarasota. Upcoming 5/22/2006 is a very cool performance of 10 minute plays for your review. more...

Median Prices rise a healthy 12%

In first quarter 2006, Florida's housing sector followed the national trend, demonstrating signs of a market adjusting to rising mortgage rates, higher inventory levels and a better balance between buyers and sellers. Statewide sales of single-family existing homes totaled 45,864 during the three-month period, a decrease of 20 percent compared to 57,532 homes sold during the same quarter a year ago, according to the Florida Association of Realtors® (FAR)."

Sales of existing single-family homes in Florida behaved like much of the U.S. across the 2006 first quarter," says Dr. David Scott, executive director of the Dr. Phillips Institute for the Study of American Business Activity and professor of finance at the University of Central Florida (UCF). "The stress points on unit sales come from two key sources: One, rising inventories of dwellings for sale and two, rising mortgage rates. On the latter, conventional mortgage rates closed the 2006 initial quarter at 6.35 percent and are trending up."

The statewide existing-home median sales price rose 20 percent to reach $248,000 in the first quarter; a year ago, it was $206,700. In 2001, the first-quarter statewide median sales price was $119,500, which is an increase of about 107.5 percent over the five-year period.
"The rate of increase in unit prices continued on the upswing, albeit at a pace that is beginning to more closely reflect underlying economic trends and capabilities," Scott says. "Median sales prices were still up a strong 20 percent in the first quarter; but, this was down from the 29 percent pace that ended with the fourth quarter of 2005." He notes that inflationary pressures are beginning to register with the state's economy as the price of gasoline at the retail level is at about $3.00 per gallon and the price of oil per barrel is in the $68 to $72 range.

Looking to Florida's existing condominium market, sales of existing condos also decreased during the quarter, with a total of 15,386 condos sold statewide compared to 19,657 in first quarter 2005 for a 22 percent decline, according to FAR. The statewide median sales price for condos rose 8 percent to $217,700 for the three-month period; a year ago, it was $201,800.
The latest economic outlook from the National Association of Realtors® (NAR) notes that while the housing market is adjusting, it should experience its third best year in 2006 with job creation and a growing economy offsetting some of the effects of rising interest rates. According to Freddie Mac, the national commitment rate for a 30-year conventional fixed-rate mortgage averaged 6.24 percent in first quarter 2006; last year, it was 5.76 percent.

Among the state’s larger markets, the Jacksonville metropolitan statistical area (MSA) reported 3,987 existing homes sold for the quarter, a 5 percent increase over the 3,795 homes sold a year ago. The market’s median sales price increased 17 percent to $200,000; a year ago, it was $171,400. The median is a typical market price where half the homes sold for more, half for less.
The Ocala MSA, one of the smaller market's in the state, had a 5 percent increase in resales for the quarter, with 1,464 homes changing hands compared to 1,395 homes sold a year ago. Over the same period, the market’s median home price rose 32 percent to $161,400; a year ago, it was $122,100.

"A strong sense of community and friendly way of living are part of what attracts people to our area," says Gregory Lord, president-elect of the Ocala-Marion County Association of Realtors® and co-owner of Homes To Ranches Realty Inc. in Ocala. “This is just a beautiful place to live, with horse farms, rural areas and the Ocala National Forest."
Another smaller market reporting an increase in existing-home sales for the first quarter was Tallahassee, where 1,161 homes sold for a gain of 11 percent. The market's existing-home median sales price rose 12 percent to $176,800

Florida Sales Tax

Governor Jeb Bush recently signed legislation authorizing Florida’s second annual sales tax holiday for hurricane preparedness. This is an important component of Governor Bush’s comprehensive plan to instill a “culture of preparedness” in Florida. The sales tax holiday begins on Saturday, May 21, to coincide with National Hurricane Preparedness Week, and ends on June 1, the first day of the 2006 Hurricane Season. It is important for all Floridians have a family disaster plan in place BEFORE a disaster threatens. So, I encourage you to prepare as soon as possible. I also urge all Florida business owners to take appropriate measures, including developing a disaster plan, to protect your businesses and business records, and to lay out how you will get your business up and running following a hurricane or other devastating event. Your plan should also include a process to account for employees after an event. For more information on creating a family disaster plan and for a list of tax exempt items, please visit www.FloridaDisaster.org.

Sarasota Area Ranks High

The annual report of Inc. magazine studied 393 population centers across the nation, identifying job creation and other signs of business vitality. Big cities are idling, and the real entrepreneurial hot spots are on the periphery -- where low costs and favorable regulatory environments make it possible to thrive.

Which metropolitan areas are really booming? Here, you'll find a searchable database, the full 2006 rankings broken down by small, medium, and large cities, an interactive map, stories explaining why -- and where -- companies are flourishing today, and much more.

2,000 homes coming to Venice

More than 2,000 new homes are planned for the Venice area. The Venice planning commission approved rezoning the 400+ acres, east of 75, at their last meeting. read more here... more

New College named "best value" by the Princeton Review

Again New College of Sarasota wins another achievement award. The Sarasota institution is an outstanding institution of higher learning drawing students worldwide. It represents what Sarasota is all about and I think it reflects the nature of our beautiful community as a whole. You can read more about the award here...
New College

Sarasota Film Festival Schedule

This year's Sarasota Film Festival is jammed packed with a terrific array of artistic offerings. The festival has moved up in prominence as witnessed by the improved slotting of the event into March.

The festival is just one more amenity which draws real estate buyers to Sarasota. Known as the 'crown jewel of the South', the Sarasota market has so much to offer. If you are a first time visitor to our area, please call us with any questions. We can be reached at:

(941) 926-8771 or (800) 968-3345.


Sarasota Film Festival Schedule

30-Year Mortgage Rates Fall a Second Week

Mortgage rates continue to fall for the second straight week. This is great news for home buyers waiting on the sidelines. In 2003 the rates were as high as 6.44 percent the week of Sept 5.

The real estate market has adjusted/corrected which favors both Buyers and Sellers. I say this because most sellers will become buyers, once their property sells.


30-Year Mortgage Rates Fall a Second Week

Sarasota is #4 in the Nation for Employment Opportunities

Sarasota is #4 in the Nation for Employment Opportunities

New jobs are opening up in Sarasota at the rapid pace of four times the national average. This dramatic increase is understandable given the notable influx of new residents to the County over the last decade. In 1995, Sarasota reported 283,258 residents. By 2005, the population had risen by 23% to 367,867. With statistics like these, Sarasota has been ranked #4 in the list of major cities for jobs in the United States.

Sarasota County reported only 2.8% unemployment for November, 2005, or 4,869 of 171,250 laborers out of work. At 2.8%, Sarasota County ranked below the state average for unemployment, which was at 3.5%. Both Sarasota and the state of Florida scored significantly lower than the national average of 4.8%.

So where can job-seekers find work? The highest percentage of jobs, 15%, is in Health Care and Social Assistance. 11% of workers are in the Construction industry, and another 10% are involved in Accommodation and Food Services. Other popular sectors include Office and Administrative Support Occupations, Sales, and Production Occupations. Employees in Sarasota gross an average of $638.00 per 40-hour work week, which calculates to an annual income of $33,176.

FSBO Beware

It happens more often than one would think - a real estate agent being attacked when showing homes. Most of us are trained on the correct procedures to follow when showing property to a stranger. But FSBO sellers, in my opinion, have no idea the risks they face when opening their house to a stranger. Older sellers, as we often have here in Sarasota, are especially vulnerable to attack or to theft. Imagine a "nice couple" showing up at your home to view the property. Also imagine they split up once inside the house - one going one way and the other a different direction. You cannot watch 2 at once if you are along. A professional thief can grab a piece of jewelry in about 2 seconds. The situation could also result in a violent attack. The bottom line is let us do our jobs for you. Stay out of trouble. Here is a story about a recent attack. ... Agents wary after attack

Sarasota Real Estate Market #13 in Country

The Sarasota/Bradenton metropolitan area is ranked 13th in the country for appreciation. In the 4th quarter of 2005, property values increased 8%. At the same time, market sales slowed. The market has cooled-off. This is a good thing.

Because the market is "over-listed' in terms of price, we have developed the Relative Value Index TM or RVI TM which is a proprietary Free tool available to our Buyers. It is a mathematical formula which analyzes the list price of any property against the property's RVITM.

If you would like the RVITM for a property simply email us with address of the home.

Sarasota New Construction

In case you have been wondering about the state of the real estate market in Sarasota and Bradenton Florida, the Sarasota Group reports that new construction continues to thrive in Sarasota and especially Manatee County today.

Between the two counties, builders and developers have submitted plans for 22,000+ new homes in 2005 with many more to come in 2006.

One reason builders remain bullish on the market - more than 1,000 people a day are moving to Florida. In addition, relatively speaking, interest rates continue to remain low.

The proposed new developments range in size. Lakewood Ranch alone plans to add 4,000+ homes. Check out areas along Buckeye Road in north Manatee County as well as Myakka City.

Plans have been submitted for more than for more than 14,000 single-family. Not all of these will be built necessarily. Builders and developers change their plans. Nevertheless, most will I think.

Manatee County has changed / eliminated sections of the planning code, making it more difficult to get developmental approval in some cases. Nevertheless, two facts remain certain - the baby-boomers are retiring by the millions and many are definitely coming to the sunshine. In addition, the snow keeps falling in Buffalo each year.

Of course, not all of the homes will be built at once either. Lakewood Ranch has been developing for more than 10 years for example. Similarly, Greyhawk Landing has also been in a 6-year build-out plan, with more to come. The approval process, which used to take months, can now require more than a year to complete.

There are other driving forces to this market. Investors who have ‘taken to the sidelines’ over the last 8 months have been slowly easing back into the market. What is not apparent, now, is whether they intend to hold or try to ‘flip’ and immediately sell.

Another Sarasota Golf Course to Give Way

Well, another piece of Sarasota recreational land is headed for single family and condo development. The Gulf Gate golf course, located in south Sarasota is on the verge of being purchased. I don't think there is anything the surrounding homeowners can do about this one.

In fact most of the existing homes will not be directly affected since only a few of the homes now sit on the golf course.

If the sale and planned development goes through, there definitely will be more traffic in the area. One of the stumbling blocks will be the current zoning which calls for 1 home per acre. I am sure any attempt to change this restriction to more than 3/4 homes per acre will be strongly opposed.

One would hope the new project would be assimilated into the existing neighborhood and character. The bottom line though is this is a done deal in my opinion.

Women Buyers

There was an interesting article to from Realtor online. It had to do with the number of single women buyers. What's the message here> I suppose the bathroom and kitchen are now more important than ever. Security is no doubt a big issue too. more...women buyers

Sarasota homes sales

Home sales this year are expected to remain historically strong. Our local sales data backs this up. more...Sarasota homes sales

Sarasota commissioners OK plans for Pineapple Square in downtown

Yesterday Pineapple Square took another step closer to becoming a reality here in Sarasota. I'm not sure if this is a good idea or not. From the city's point of view It seems to me to be about parking. On the other hand I don't think any government should stand in the way of business. Be prepared for a reaction regarding the homeless. It is going to force these people elsewhere... Pineapple Square

News from the Sarasota Group web site

After 10 years with Re/Max I have changed brokerage. I have chosen Horizon Realty, the largest independent real estate company in the greater Sarasota area. With over 400 agents I feel I can better serve both Buyers and Sellers through a company which is focused 100% on Sarasota real estate.

Although it was difficult to leave my broker & many colleagues, I am looking forward to new opportunities and adventures. My phone numbers are still the same as is my email address of course.

Consumers Like the Economy!

The Conference Board Consumer Confidence Index had also increased in December. The Index now stands at 106.3, up from 103.8 in December. The Present Situation Index (PSI)rose 8 points. The Expectations Index, which considers opinions about the economy six months in the future, declined very slightly to 91.5 from 92.6 last month.


"Consumer confidence is now at its highest level in more than three years (June 2002, 106.3)," says Lynn Franco, director of The Conference Board Consumer Research Center. "This month's increase was driven solely by consumers' assessment of current economic conditions, especially their more positive view of the job market. But while consumers rate current conditions more favorably than they have in more than four years (Aug. 2001, 144.5), the improvement has not translated into greater optimism about the near-term future. In fact, the gap between consumers' assessment of current conditions and their expectations remains wide."



Overall, consumers' assessment of present-day conditions was more favorable in January than in December. Consumers claiming conditions are "good" increased to 25.8 percent from 24.4 percent. Those claiming conditions are "bad," however, also increased to 16.0 percent from 14.9 percent. Labor market conditions continued to perk up. Consumers saying jobs are "plentiful" rose to 26.9 percent from 23.3 percent, while those claiming jobs are "hard to get" decreased to 20.3 percent from 22.5 percent.

Sarasota Information

The Sarasota real estate market is a dynamic phenomena. Unlike many markets Sarasota homes attract many different types of buyers. Sarasota serves as home to young families, vacationers, retires and snow birds. Because of the unique landscape of Sarasota, from the Gulf of Mexico, the 50+ golf courses, the emerging downtown condominium living, planned community living such as Lakewood Ranch, Sarasota has a place for ever taste.

Because the Internet has become the prime research tool for over 72% of Sarasota real estate buyers, we have compiled some of the most-often asked about topics for both Buyers and Sellers. We are constantly updating these areas of interest based on the requests we receive. For instance, information regarding 1031 tax deferred Exchanges is a much-requested topic this time of year. Tax season is not far away.

Another 'hot topic' is the status of our market. Is the bubble bursting? What's happening regarding new construction? The short answers are "no" and a "a lot".

Too many real estate agents

I'm convinced the greater Sarasota area has too many real estate agents. At first glance you would think this is a benefit to the consumer, right? 'More agents = lower commissions and more money to the Sellers' is what a lot of folks think. The fact is the result is the direct opposite.

Several phenomena are taking place in today's market which are hurting the consumer. With too many agents (5,000+) in the market, most with less than 2 years experience, competition for listings is resulting in an abundance of over-priced properties. The newer agents are fighting to make a living - and get a listing. They do two things. They over-state the value of the property to 'get the listing'. Second, they deeply discount the commission rate. The end result is that over-priced listings don't sell because of price and cut-rate commissioned properties don't sell because they are not shown.

Sellers beware. "If something seems to be too good to be true ..."

Sarasota Real Estate Terms

We have put together a real estate glossary of the most common terms and definitions used in real estate contracts & negotiations. more...Real Estate glossary

Sarasota Music Festival

Sarasota has long been noted for its cultural offerings. Included in its menu are its film festival and the Sarasota Music Festival. This year the music festival runs May 29 - June 17. Make plans now to attend. You don't want to miss this. more...Music Festival

Steps in Buying a House

Perhaps it has been awhile since you have purchased a home. Believe me the procedure and the laws have changed. The good news is these changes have benefited the Buyer. To get a good perspective of the current home buying process, I recently updated my guide to buying a house on my website. more...Buying a House

Sarasota - "Employee's Market"

Sarasota county posted an unbelievable 2.3% unemployment rate. Manatee county - home to Bradenton - was not far behind. What does all of this mean? If you want a job in Sarasota - you have good choices more...jobless rate

Sarasota - "Employee's Market"

Sarasota county posted an unbelievable 2.3% unemployment rate. Manatee county - home to Bradenton - was not far behind. What does all of this mean? If you want a job in Sarasota - you have good choices more...jobless rate

More Good News for the Sarasota real estate market

More good news for the Sarasota real estate market. Sarasota rank #5 in the nation on the the Hotwire Travel Value Index. The index identifies the top US cities for travel bargains. more ...Hotwire Travel Index

Sarasota Political Clubs

Perhaps you are a political junkie. You might enjoy joining a local political club. Check these out...Sarasota political clubs

Sarasota Clubs

If you are looking for something to do or looking for a club associated with your hobby or interest we have com;plied of list of clubs. The list is extensive. more...Sarasota Clubs

10 Steps to Prepare for Homeownership

Steps to Prepare for Homeownership. When you are ready to purchase a home, here is a brief check-list to guide you into the process. more...Homeownership

Florida's Documentary Stamp Tax

The purchase or the sale of real estate in Florida is assed a "Doc" stamp tax. Remembering that Florida has no income tax, doc stamps are one of the low taxes we pay in this state as well as many other states I should mention. more...Doc stamps

06 Housing Market

As a sign of a rock-solid real estate market, experts predict a balanced real estate market for 2006. more...Jan 06 Forecast

Sarasota Employment

Sarasota un-employment is the lowest in the state. I think this is a great indication of our local economy including the real estate market. Our real estate market is definitely on strong ground. more... Sarasota Employment

"Do Not Call" Cell Phone Register

Beginning 2006, cell phone numbers will be released to telemarketing companies. Good news though- you can register your cell phone on the national Do Not Call register. More..."Do Not Call" Cell Phone Register

Driving Distances from Sarasota to Other Florida Cities

If you are planning some travel from Sarasota to other Florida cites here are some driving distances for your reference more...Driving Distances

What to do in case of Identity theft

If it happens, here are some excellent tools for dealing with Identity Theft. Unfortunately more people every day are becoming victims of identity theft and fraud. more...identity theft

Tax Deductions for Landlords

This is the time of the year to begin planning for the filing of tax returns. If you own rental property, most small landlords can deduct up to $25,000 in rental property losses each year. more...Tax Deductions for Landlords

Siesta Key Beach

Siesta Key beach in Sarasota Florida was recently rated one of the top beaches in the world. Know fdor its silky white crystal sand, the beach is a true natural resource of Sarasota. more...Siesta KeySiesta Key Beach

Sarasota Real Estate Investment Articles

I have complied a list of over 500 investing articles. If you have a question about real estate investing or Sarasota homes for sale you will find the answer here. more...Real Estate Investment Articles

Sarasota Real Estate Topics

I recently referred my readers to a list of terrific real estate topics. If you are considering the purchase of real estate I am sure you will find these very helpful. more...Sarasota Real Estate Topics

REALTOR? Magazine - Daily News

Mortgage rates fall again. Goo news. more...mortgage rates

Siesta Key Enclave features Victorian designs

A small, luxury residential development on Siesta Key is being designed as a new interpretation of a venerable architectural style more...Siesta Key Enclave

Mortgage rates dip slightly this week

Mortgage rates dipped slightly this week as financial markets liked signals from the Federal Reserve that its string of interest rate hikes could be drawing to a close. more...Mortgage rates

Historically strong home sales expected in 2006

The housing market for 2005 is headed for a fifth consecutive annual record and sales activity in 2006 is expected to be the second best year in history, according to the National Association of Realtors? more...
Strong home sales expected in 2006

Home Buying Guide

There are certain steps as well as 10 'Do's and Dont's' when Buying a home and obtaining a mortgage. One of the keys to making the homebuying process easier and more understandable is planning. In doing so, you'll be able to anticipate requests from lenders, lawyers and a host of other professionals. Furthermore, planning will help you discover valuable shortcuts in the homebuying process. more...Home Buying Guide

Reverse mortgage can offer security to senior citizens

Perhaps a "reverse mortgage" is right for you? Basically it is a way a accessing the equity in your home without selling the property. The downside is it has to be paid back at the time the property is sold. more...Reverse mortgage can offer security to senior citizens

Sarasota Housing Market Analysis

The Sarasota housing market is becoming balanced and this is a very good thing overall. No more talk of a bubble. Rather good, steady growth. ...more Sarasota Housing Market Analysis

Affordability continues to drive demand for condos

Apartment conversions to condos make these properties the most affordable just like they did 25 years ago. Orlando is a perfect example. more Affordability continues to drive demand for condos

Rosemary District of Sarasota

The rosemary district of Sarasota, a very hip & area of Sarasota,
announces their first annual street festival. read more ...

Homeowners Insurance

Florida insurance rates are expected to rise a bit since the storms of this past season. To get ahead of the game it might be wise to change companies now and lock in your rate for the next 12 months. Here are some general tips you might consider about your insurance coverage. Homeowners Insurance

Market is balancing in Sarasota

Excellent time to buy in Sarasota - at least that what is indicated. And it is just in time for the winter market in Florida. more ... Balanced Market

Sarasota Real Estate

If you are looking to find real estate in Sarasota or information about the Sarasota area look here. Search for homes, condos, new construction, rentals located in Sarasota, Siesta Key, Longboat Key, Bradenton & Lakewood Ranch. more Searching Sarasota real estate

Park East welcomes housing proposals

If the city assists them with zoning or other requirements, a church and a business in the Park East neighborhood are anxious to build moderately priced apartments for downtown-area workers. more...
Park East welcomes housing proposals

30-Year Rates Fall to 6.26%

30-Year Rates Fall to 6.26%

(December 2, 2005) -- Good news. The national average commitment rate on a 30-year, fixed mortgage dropped to 6.26 percent from 6.28 percent during the past week, marking the second straight decline, according to Freddie Mac.

Analysts attribute the decrease to economic uncertainty but predict that mortgage borrowing costs will move upward as the Federal Reserve implements additional short-term rate hikes.

The national average commitment rate on a 15-year, fixed mortgage, meanwhile, held steady at 5.81 percent. The average rate on a one-year, adjustable-rate mortgage rose to 5.16 percent from 5.14 percent, and the five-year hybrid ARM edged up to 5.76 percent from 5.75 percent.

Sarasota Arts & Culture

Sarasota is considered the arts capital of the South - a Soho with sunshine, a Taos with a beach. Check out the highlights of the Sarasota Artistic landscape ...Sarasota Culture

Florida's home resales' median price rises in October

Home sales statistics from the Florida Association of Realtors® (FAR) show that home prices continued to rise but the number of sales fell in October, notably in southern areas directly impacted by Hurricane Wilma's march across the state. Most insurers stopped issuing new policies when the hurricane neared Florida, and, following the storm, some lenders required a re-inspection of properties before they would release mortgage money.

Despite storm problems, however, the state's median home price rose 28 percent in October to $241,000 from $188,800 in October 2004. In September 2005, the median price was $247,800. In October 2000, FAR records show the statewide median sales price was $116,100, resulting in an increase of 107 percent over the five-year-period.

Many Realtors across the state report gains in housing supply, giving buyers a larger selection of homes to consider. Statewide, a total of 16,029 existing single-family homes sold last month compared to 16,844 homes a year ago for a decrease of 5 percent, according to FAR.

The national median existing-home price in September was $212,000, up 13.4 percent from the previous September's median price of $187,000, according to the National Association of Realtors® (NAR). In California, the statewide median resales price was $543,980 in September; in New York, the median price was $275,000; and in North Carolina, the average resales price was $208,097.

Interest rates for a 30-year fixed-rate mortgage averaged 6.07 percent in October, a slight increase from the average 5.72 percent in October 2004. However, they did edge back down in early November. FAR’s sales figures reflect closings, which typically occur 30 to 90 days after sales contracts are written.

Among the state’s larger markets, the Daytona Beach metropolitan statistical area (MSA) reported that 1,037 homes sold in October for an 18 percent gain over October 2004 home sales of 881. The median home price in Daytona Beach rose 35 percent over the same time period, from $165,000 in October 2004 to $223,300 in October 2005.

Shawn M. Goepfert, president of the Daytona Beach Area Association of Realtors and owner of Ideal Realty of Volusia, says that demand for Daytona-area homes is now catching up with supply. "We started 2005 off with only about 1,000 residential listings, really robust sales and it taking only about two or three weeks to get a contract," Goepfert says. "That demand really pushed up our sales price, but in the last 30 days, our inventory has increased to about 3,000 residential listings."

Other larger MSAs with strong sales and price increases include Jacksonville, with 1,504 home sales in October for a 38 percent gain over October 2004 sales numbers; and Tampa-St. Petersburg-Clearwater, with 3,735 homes sold for an increase of 4 percent over the same time period. Prices also rose in both markets over the year. In Jacksonville, the median price rose 20 percent to $191,600; in Tampa-St. Petersburg-Clearwater the median price rose 35 percent to $225,700.

Among the state’s smaller MSAs, Lakeland-Winter Haven posted a 24 percent gain in home sales in October, with 513 homes changing hands compared to 414 homes a year ago. The market’s median sales price rose 50 percent in October to $173,500; last year, it was $115,500.

"I think people have discovered our little secret," says Peggy Daley, treasurer of the Lakeland Association of Realtors and a Realtor with ImperiaLakes Realty Services in Lakeland. "We've got the best of everything. People are moving here in droves from South Florida, plus people from the North keep coming down and quickly realize that we're centrally located with easy access to Tampa or Orlando -- but without the traffic."

Florida's home resales' & median price rises in October

ORLANDO, Fla. -- Nov. 28, 2005 -- Home sales statistics from the Florida Association of Realtors® (FAR) show that home prices continued to rise but the number of sales fell in October, notably in southern areas directly impacted by Hurricane Wilma's march across the state. Most insurers stopped issuing new policies when the hurricane neared Florida, and, following the storm, some lenders required a re-inspection of properties before they would release mortgage money.

Despite storm problems, however, the state's median home price rose 28 percent in October to $241,000 from $188,800 in October 2004. In September 2005, the median price was $247,800. In October 2000, FAR records show the statewide median sales price was $116,100, resulting in an increase of 107 percent over the five-year-period.

Many Realtors across the state report gains in housing supply, giving buyers a larger selection of homes to consider. Statewide, a total of 16,029 existing single-family homes sold last month compared to 16,844 homes a year ago for a decrease of 5 percent, according to FAR.

The national median existing-home price in September was $212,000, up 13.4 percent from the previous September's median price of $187,000, according to the National Association of Realtors® (NAR). In California, the statewide median resales price was $543,980 in September; in New York, the median price was $275,000; and in North Carolina, the average resales price was $208,097.

SMH expands emergency and urgent care services

Sarasota Memorial Hospital has expanded its emergency medicine expansion, which includes 26 new treatment rooms. The hospital has hired more emergency medicine physicians, and will soon announce a new 30-minute guarantee patients will not wait longer than 30 minutes to receive care. SMH is also planning to open a new walk-in clinic in January at 2415 University Parkway. The clinic, staffed by the SMH emergency care doctors, is for people who need immediate or urgent, but not necessarily emergency care think flu, ear infections, cuts.

Steps in Purchasing a Home

Many of the Buyers I represent seem to fall into 2 categories - either they are first-time Buyers or its been awhile since their last purchase. In either case I have put together some information to familiarize home purchasers with the buying process here in Florida. more...Home Buying Guide

Sarasota is now a Buyer's Market

The latest news about Sarasota real estate indicates the market, in terms of inventory, is now favoring the Buyer. There are many more homes currently listed for sale in the Sarasota and surrounding markets. The existing market reflects the fact that demand has eased a bit.
We don't see a drop in prices. Rather we see a flattening off in the market. more...Sarasota Buyer's Market

Picking a Place to Retire

For many its the time to pick a place to retire. For myself I want to be in 2 places or 3 places at once it seems. I fell in love with Sarasota about 10 years ago. This is my 'special place'...
more...Picking a Place to Retire

Mortgage rates finally stop rising

Mortgage rates finally stop rising

By Holden Lewis ? Bankrate.com
Mortgage rates finally stopped rising. Rates had gone up nine weeks in a row. This week, for the first time since early September, mortgage rates didn't rise.

The end of the longest rising-rate streak in 18 years is being celebrated in silence. The streets remain peaceful as home buyers observe the end of the remarkable run by wondering whether they should lock, in case rates resume their upward path again, or float, in case rates fall. There is no celebratory speech by the chairman of the Federal Reserve, nor are fireworks being discharged over the headquarters of the Mortgage Bankers Association. Calm reigns over this electrifying development in mortgage rates.

The benchmark 30-year, fixed-rate mortgage remained 6.42 percent, according to the Bankrate.com national survey of large lenders. The mortgages in this week's survey had an average total of 0.35 discount and origination points. One year ago, the mortgage index was 5.76 percent. Four weeks ago, it was 6.17 percent.

The 15-year, fixed-rate mortgage rose 3 basis points, to 5.99 percent. A basis point is one-hundredth of 1 percentage point. The 5/1 adjustable-rate mortgage fell 1 basis point, to 5.93 percent.

In Bankrate's weekly survey, the 30-year benchmark rate hasn't dropped since Aug. 31, when it"

Sarasota Economy is in Fantastic Shape!

The latest economic news for Sarasota is terrific. Unemployment is is under 3% and is also below the state average. Businesses are literally pitching a tent outside their stores to recruit employees ... more Sarasota Economy

Gamma likely heading toward Southwest Fla.

Good News - Bad News ... The Sarasota Hearld Tribune reports this morning 'Gamma' it appears is coming our way ... probably to the south of Sarasota. The good news is it appears to only be a lot of rain. ... moreGamma likely heading toward Southwest Fla.

HOMEOWNERS' INSURANCE

The chairman of Citizens Property Insurance Corp., the state's insurer of last resort, said Thursday that its rates are too low and must increase so private insurers will want to do business in Florida. Meanwhile, sinkhole risk has already caused Citizens to raise its insurance premiums, especially in Pasco County.

Read the full story from Planet Realtor:

Homeowners Insurance

Fractionals Let Buyers Grab Slice of Luxury Life

From the Realtor Magazine I noticed a couple of interesting articles. One has to do with Fractional ownership ... not totally unlike a timeshare, more...REALTOR� Magazine - Daily News: "Fractionals Let Buyers Grab Slice of Luxury Life"

Secret Service investigating fake cash

Not exactly related to Sarasota real estate, we would like our readers to be aware of "fake" $20's floating around in the area. This is nothing new but all should be cautious. Check your change. more...Secret Service investigating fake cash

Sarasota Houses

Guide to current Sarasota real estate prices:
Properties on or near any water can be significantly higher.
These figures are based on the sales reported in the local Sarasota MLS.
Sarasota Real Estate Sales Data:

Residential Average Price: $520,682
Residential Median Price: 352,500

Condo Average Price: $489,950
Condo Median Price 300,000

% of List Price to Sales Price:
House: 97.2
Condo: 97.0

Average Price: The total price of all of the sold homes divided by the number of homes sold.

Median Price: is the value that separates the highest half of the sample from the lowest half.

Real Estate Sales in Sarasota to International Buyers on rise

When David Ford took early retirement from his job in England, he envisioned spending six months in Florida playing golf and six months in England.

"I fell in love with Florida," Ford said.

Now, the owner/broker of Sunset International Realty and Property Management in East Manatee, Ford helps international and local buyers find their own piece of Florida.

International buyers, led by those from Great Britain, are searching for permanent residences, second homes, rentals or straight out investments. more...Real Estate Sales in Sarasota to International Buyers on rise

Senior Buyer Trends, Sarasota real estate

More Seniors are choosing Florida for the second home / retirement home. More and more seniors are using the internet in their search. more...Senior Buyer Trends, Sarasota real estate

Sarasota Fishing

Fishing in and around Sarasota is terrific. If your like me you perhaps are not a native saltwater fisherman. I have tried to gather some information you should find useful about this great sport. more...Sarasota Fishing

Excellent new site I found ...

Find Property USA is a Property and Real Estate Directory. We have For Sale By Owner and Real Estate Agent listings. If you do not find what you are looking for on this visit, please come back soon as we are continually updating the site with new listings. If you have a property to sell they can help as well.

Sarasota Home Seller's Tip - Remove the Clutter

Removing clutter is the single hardest thing for most people to do because they are emotionally attached to everything in the house. After years of living in the same home, clutter collects in such a way that may not be evident to the homeowner. However, it does affect the way buyers see the home, even if you do not realize it. Clutter collects everywhere ... on shelves, counter tops, drawers, closets, garages, attics, and basements.

Do yourself a favor and take a step back and pretend you are a buyer. Let a friend help point out areas of clutter, as long as you can accept their views without getting defensive. Let your agent help you, too
Sarasota Home Seller's Tip

Sarasota hospital reduces ER wait

Sarasota Memorial Hospital is trying to reduce the "pain" of going to the emergency room. They have announced a plan to greatly reduce the waiting time of being attended to by the medical staff. more...Sarasota hospital reduces ER wait

Sarasota Real Estate Topics

Purchasing property is a little different in every state. The real estate climate also differs in each state or region of the country. I've compiled a list of subjects you might find interesting. more...Sarasota Real Estate Topics

UK Investments

If you are considering investing in the UK here are some helpful links...

EZ Mortgage UK - Adverse Credit Mortgages UK - Home mortgage loans for people with adverse credit, self certification, non status and bad credit mortgages and home loans.

Better Loans UK - Offering debt consolidation, bridging, personal, secured and unsecured loans for the self employed, bankrupt or bad credit applications.

100% Buy to Let Mortgages UK - Exclusive ! Unique 100% Buy to let Mortgages.

Second Mortgage Loans UK - Specialist in Loans for problem mortgages, second mortgages, re-mortgages and new mortgages for people with problem credit history.

Best Buy to Let Mortgages UK - Providing advice and online product database of various rates for buy to let mortgage loans and advice on buy to let mortgage loans. Instant quotes.

French Property Sales - UK based agency providing a free service for new and resale property in the South of France, Leaseback and and new-build a speciality. Mortgages, tax, legal services & info on french property purchase

What Mortgage UK - What Mortgage UK offer the most competitive rates available today, for secured UK mortgages and remortgages.

Endowment Policy Maximiser - We'll obtain as many quotes as possible from at least 10 market makers for second-hand endowment policies to ensure you obtain the best price in the market.

Equity Release - Home Equity Loan - Provide extra income – For many the incentive is enhancing their lifestyle by using some of their equity to provide additional income/

Personal Loans UK Secured Loans - UK based Secured loans. Our friendly and helpful staff will find you the most competitive loan for you even if you have some adverse credit history, CCJ's or other financial problems.

Rent a villa with pool in the South of France for your holiday - Beautiful houses with 2 or 3 bedrooms, new kitchens and bathrooms and quality furnishings for a great holiday in the south of France, near St Tropez and Ste Maxime - prices from £250 to £1000 a week.

Accident Injury Helpline UK - With nothing to pay upfront and a 'No win no fee' guarantee. Just spend a few minutes filling out our quick and easy enquiry form. We'll then help you honestly assess your claim.

Personal Injury Advice UK - Compensation claims personal injury claims on a no win no fee arrangement.

The Property Investors Club UK - Offers discounted off-plan buy to let investment property, property investment funds, REITs, overseas investments, leaseback, discount properties, commercial property, education and property seminars.

First Time Buyers Club UK - The First Time Buyers Club has been established to help first time buyers (and others who require more affordable housing) get onto the property ladder.

Moneysworth - Moneysworth provides cost effective and discounted financial services with life assurance, traded endowments, pensions and much more.

Best Cash ISA Rates -

French Villa Rental South of France - Vacation holiday home rental villa france, nr. st tropez; plan de la tour, on the french riviera. two bedroom luxury villa with pool.

Vacation Rental Holiday in France - Choice of French Villas, Cottages and Apartments to rent in the South of France, near St Tropez, Ste Maxime and Plan de la Tour

Assetz Bulgaria - Buy properties in Bulgaria for investment or holiday homes.

Polaris World Spanish Property Sales - Expert in PolarisWorld Golf Resort and Resale Properties in the Murcia Region of Spain

Mum Plus One - UK Insurance for family protection and the cost of raising a child.

Buy To Let in Florida - Buy to Let opportunities in sunny Florida

Buy To Let In France - Advice on buying-to-let in France

Buy To Let In Spain - Spanish properties available for buy-to-let

Buy To Let Overseas - Buy-to-let for outside the UK

Cheap Loan Centre - UKs cheapest loans

The Home - Information for home owners

Assetz Property Investment - Assetz is the new name for a group of well known and successful property companies offering you selected premier UK and overseas property, education, buying assistance, finance and after-sales service

Assetz Cyprus - Buy properties in Cyprus for investment or holiday homes.

Le Roc France - Investment property in Le Roc, France

Sarasota Real Estate Prices

The following is a guide to the current real estate prices in the Sarasota area. Properties on or near the water are significantly higher than inland homes. ...Sarasota Real Estate Prices

Sarasota Baby Boomers

Don't call them seniors. Baby boomers, who reveled in the culture of youth a quarter-century ago, aren't about to be their parents' retirees. "Baby boomers think they never will get old," said Myril Axelrod, president of Marketing Directions Associates in New York. "This self-image will have a lot to do with their future housing choices." "Aging boomers are not considering retirement housing. Instead, they call it next-stage housing," said Axelrod, who spoke at a recent senior housing symposium in Chicago.

Buying a New Home

If you are purchasing a new home in Sarasota chance are you will be purchasing new construction. As a Buyers Agent I act solely on the Buyer's behalf. It is important to understand the on-site development sales people represent the Builder only.

The following is an article from BankRate.com which offers some great advice when purchasing new construction. Buying a New Home

All about ARMs

Mortgages can be very confusing. In the recent past ARM's (Adjustable rate mortgages) have been very popular. As rgw interest rates have creeped up a little the ARMs have been less desirable. more...
All about ARMs

Sarasota Temperatures

The temperature in Sarasota is really nice all of the year! Even the hot & humid months are not much different than Chicago or Grand Rapids or Dayton in the summer. Here is a table of the average monthly temps...
Sarasota Temperatures

Buyers Agent

Maybe you have seen this term or title used by real estate agents. To clarify exactly what it means and what a Buyer's Agent does click below...
Buyers Agent

Morton's 6th Annual Firehouse Chili Cook-Off

If you are looking for something fun to do Sunday check this out. The Sarasota Firemens' Benevolent fund and Morton's Market officials have announced their plans to host the 6th Annual Morton's Firehouse Chili Cook-Off, which will be held on Sunday November 6, 2005 from 2pm-5pm. The event will be held on Osprey Avenue between Hyde park street and Hillview avenue (between Fred's Restaurant and Morton's Gourmet Market). more...


Morton's Firehouse Chili Cookoff

Sarasota Relocation Information

If you are moving or acquiring a second property in Sarasota there are many details to attend to such as phone and electric service. You might want to check out the following information pages...

Relocation Information

Investing IRA Funds in Sarasota Real Estate

Investing IRA Funds in Real Estate:

Did you know you can invest IRA funds in real estate? There are some guidelines which need to be followed but many have chosen the real estate market over the stock market in which to invest.

In Sarasota a $100,000 investment made in 2001 would now be worth about $400,000. Typical return on investments in this area is closer to 8%.

The link below will give you more information about investing IRA funds in Sarasota real estate...

Investing IRA Funds in Sarasota Real Estate

WHO ARE THE SARASOTA Originals?

WHO ARE THE SARASOTA-MANATEE ORIGINALS?

The Sarasota-Manatee Originals organized in September 2003 with a passionate desire to celebrate and preserve our community’s culinary “sense of being”. A group of 24 independently owned restaurants in the Sarasota-Manatee County region became Florida’s first chapter of the Council of Independent Restaurants of America (CIRA). CIRA has chapters in 18 other cities around the US. The Sarasota-Manatee Originals now boast more than 50 active members!

Nowhere is this sense of independence and quality more important than the Sarasota-Manatee area. Within a twenty-mile radius of downtown Sarasota, there are more Florida Trend Award and Zagat top-scoring restaurants than any other area of the state and every one of these award-winners is independently owned.

We’re obsessed with the flavors that define our region and are always looking for ways to incorporate interesting styles of cuisine from around the world into our own brand of Sun Coast dining. We devote our time and energy to providing you with the best dining experience your money can buy. We live here, work here and play here. We’re a part of the community that embraces the exceptional quality of life the Sarasota-Manatee region is known for. We appreciate your business and enjoy being your neighbors.

We promise to serve you only the freshest food available. Our long-standing relationships give us the distinct advantage to offer you meals prepared within hours of harvest from fields & waters close to our kitchens. Many of us have been delighting locals & visitors for twenty to thirty years and have established a culinary heritage that simply can't be replicated in the corporate kitchens of Chicago, Los Angeles or Dallas. Fresher is better and freshest is the best. We are truly fortunate to live amidst such delicious bounty.

From casual beach dining to an exquisite night on the town, we guarantee that the meals you eat are freshly prepared using the best local ingredients combined with the heritage flavors the Sun Coast is famous for. You have our word on it.

Sarasota - A Great Place to Re-Invent Your Life!

The 15 Best Places to Reinvent Your Life

"Baby boomers are redefining retirement-and leading the move to a new generation of dream towns"

By Grace Lichtenstein, Elaine Robbins, and Michael Dupuis



Once again, baby boomers are breaking the rules. This influential group has bumped traditional retirement off its list of priorities. While "their parents were off fleeing to Leisure Worlds," says historian William Strauss, boomers are contemplating what to do in the next stage-and where.

A recent AARP study estimated that 70 percent of those 45 and older plan to continue working in their "retirement" years, and a Roper Starch Worldwide survey found that the number may be as high as 80 percent. Financial stability isn't the only reason; the Roper study notes that pure enjoyment of work (35 percent of those questioned) or just a desire to try something new (5 percent) will also keep people on the job.

The choices boomers make-in everything from jobs to zip codes-will alter the country's future physical and financial landscape in substantial ways. "Fully situated in middle-age, boomers have become a serious economic as well as social force with which to be reckoned," says William H. Frey, a University of Michigan demographer and a leading researcher of age-migration trends. "And, as usual, all eyes are on them." Already, it's possible to discern certain trends.

Among those ages 45 to 54, only 4.7 percent-fewer than one out of 20-move across county lines each year, while even fewer move across state lines, according to Frey. So it's likely that the largest portion of this demographic will stay put. Why? Boomers "see their homes as legacies," explains Strauss. And since they tend to get along with their kids, they have no plans to get away from them.

How We Picked the Cities

Our research team looked at 10 criteria reflecting the needs, interests, and tastes of Americans age 50 and older. Not all of the towns excel in every category, but each ranked high in several, and many scored high in most. You'll see some surprises here-we made a genuine attempt to spotlight sleepers-vibrant towns and cities that may not have occurred to you.

Availability of jobs, since many in this group will work beyond age 65.

Affordable housing-many cities have costs on par with or below the national median price of $161,600.

Culture and entertainment (from museums and opera to shopping and sports events).

Access to outdoor recreation, from skiing and biking to walking and hiking.

Safety-personal and property safety, and a generally secure feeling.

Colleges or universities (for continuing education and a multigenerational vibe).

Sense of community (often places with a vital and walkable downtown).

Proximity to comprehensive, well-regarded health care facilities.

Good public high schools, since many boomers still have teens at home.

Ease of getting around (public transportation, traffic, access to an airport).

For those who will move, sometimes the pull of the familiar is key. Many will move to be near family. One of the differences between baby boomers and the older "silent generation," says Strauss, is that this younger group is not rebelling against family ties. In fact, remaining close to loved ones is a priority. College towns, too, offer a familiar feel. The experience for those who "were in college from the middle 1960s into the early '70s," says Strauss, "was something that set the whole generation on a life-cycle trajectory. College communities were the closest thing boomers had to the beaches of Normandy."

In addition to the community aspect, universities generate jobs and lend a youthful vibe. And they often come with arts centers, medical facilities, and sophisticated restaurants.

Another trend: choosing a new locale first-opting for one with appealing cultural and recreational lifestyles-and only afterward looking for ways to earn a living there. Strauss calls this the "aesthetic choice." Some who make this jump wind up telecommuting, starting a small business, or working part-time.

This is particularly true of the region Frey calls "the New West." Colorado, Washington, Idaho, Wyoming, and other states have recently lured long-time Californians (others are coming along, too) who loved the Golden State lifestyle but became fed up with high taxes and crowds. Flush from cashing out their equity in houses whose value mushroomed, these California migrants are transplanting themselves to attractive neighborhoods in nearby states.

Also a popular choice: purchasing vacation homes with a view to spending more time there in the future. Again, the New West-particularly Colorado-is seeing much of this activity. Other hot spots? West Virginia, Tennessee, and Arkansas-all quieter, less crowded destinations that come with lower prices.

Since "boomers and middle age are now synonymous," says Frey, "the whole country will become more middle-aged-but some places more than others." Where might those places be? We've compiled a list of 15 highly livable towns by looking at a range of criteria-from affordability to community life to job growth. Ultimately, of course, choices are as varied as the people making them. But this is a good place to start dreaming.


SARASOTA, FL

Sarasota, a small, civilized city on Florida's Gulf Coast, has it all-35 miles of beaches, a temperate climate, golf courses and tennis courts aplenty, and good boating in the Gulf and Sarasota Bay. Fine dining has rendered the early-bird special an endangered species-you'll have no trouble finding first-rate food at places like Pattigeorge's on Longboat Key or late-night burgers at Patrick's downtown. The local economy is robust (unemployment is a mere 2.8 percent), and there is a mix of jobs in tourism, the financial and health fields, and information technology.

But, apart from the sun, what residents love most is the range of cultural opportunities. What other small Florida city has an opera, a symphony, a film society, a theater scene (from Broadway classics like Porgy and Bess to a cabaret where you can dine while watching original productions), lots of art galleries-and The Ringling Museum of Art (with paintings by Rubens as well as circus props). "If you can't find something to do around here," says Regina Kelley, a local teacher, "you'd better check your pulse."

Experts Agree - No Sarasota Real Estate "Bubble"

Home Price Analysis for Sarasota-Bradenton-Venice

By the Research Division of the National Association of REAL TORS@

Executive Summary


With home prices rising strongly in most parts of the country, there has been widespread media coverage on the possibility of a housing market bust. A thorough analysis of the Sarasota-Bradenton- Venice metro market, as detailed below, reveals that there is very little danger of this.

In fact, the local housing market is in excellent shape with a
potential for significant housing equity gains, particularly for homebuyers who plan to remain in their house for the long run.

Because prices have risen faster than income, the ratio of price-to-income is currently above the historical norm. This measure is frequently cited to imply that there is a housing market bubble.

But this ratio is a misleading measure in assessing bubble
prospects.

A more relevant measure is the mortgage servicing cost relative to income.
This ratio is at a very manageable level. It implies no widespread financial
overstretching to purchase a home in the region. Furthermore, the nationwide supply of homes on the market relative to home sales is very lean, suggesting similarly tight market conditions in the local area.



Price Activity

The current price of $367,800 is 80% above the national average.
The median home price rose 23% in 2004 and 92% in the past three years.
Home price growth has been weak throughout the 1990s. So part of the recent
increase is attributable to the "catch-up" effect.


Affordability

Because the prices have risen faster than income in recent years, the ratio of price-to-income has been rising strongly. This measure is frequently cited to imply that thereis a housing market bubble.

Mortgage rates declining to 45-year lows have been a major force in boosting home
prices in recent years. Lower rates allow homebuyers obtain a larger loan without
necessarily increasing monthly mortgage payments.

A more relevant measure for assessing the risk of a home price bubble is the median
mortgage servicing cost relative to the median income. This ratio is currently above
the local historical average, but well below the worrisome levels of the early 1980s.

It implies no widespread financial overstretching to purchase a home in the region
Furthermore, the newly arriving retirees may not get reflected in the income data
since they are not working, but they could have substantial wealth holdings.


Local Sarasota Fundamentals

The job market has been exceptionally strong. There have been 41,000 payroll job
additions in the past five years. Many new job holders seek their own housing units.

The region added in the past five years an estimated 56,000 new housing units of
which about 42,000 were single-family units.

The ratio of five-year job gains to five-year new home construction shows the
"hangover" impact of the housing shortage, or housing surplus.

In our case, the localmarket is at a neutral level as the ratio is right near one. With recent job gains and the expected continued economic expansion, the jobs-to-new home ratio could further
increase.

In addition, as mentioned earlier, the newly arriving retirees will not show
up in the jobs data, though they will need housing.


Other Factors

There is no good data on ARMS or interest-only loan composition for the local
market. But, there have been some reporting in the media of a higher use of these
loans in recent years compared to the past. If true, some homeowners will feel the
pinch of higher rates over time.

The baby boomers are in their peak earning years and have been active in purchasing
second homes, which many consider as their future retirement homes. The baby
boomer impact will continue for another 10 to 15 years.

The region is a prime retirement destination. The local market will benefit from
second-home purchases by U.S. baby boomers as well by wealthy foreigners.


Stress Test

Price declines in the local market are unlikely according to our stress test.
The local housing market will experience a price decline of 5% only under
extreme unlikely scenarios.

For example, mortgage rates rising to 9% in combination with 33,000 job losses could lead to a price decline.

Such scenarios are highly unlikely. Most credible forecasts predict the region will
create at least 12,000 jobs over the next 24 months and mortgage rates will hover
around 7% by the end of 2006, which bodes well for future price gains.

Even in the unlikely event of prices declining by 5%, most homeowners will maintain
sizable equity build-up in their homes. Housing equity will most likely continue to accumulate to local homeowners. The equity gains under three price growth scenarios are presented below.

One scenario assumes a historical conservative price appreciation of 1.5% above consumer price index inflation. With most credible inflation forecasts pegged at 2.5%, home prices can expect to rise by 4% per year under normal circumstances.

The two otherscenarios assume slightly below (1.5%) and slightly above (6.5%) the normal rate of appreciation.

The local market is more likely to appreciate at an above-normal rate because of the
on-going wealthy baby boomer searching for retirement destinations.


Additional Discussion Points

Home price declines are very rare. In fact, the national median home price has not
declined since the Great Depression of the 1930s. Stock market collapses, the OPEC
oil crunch, economic recessions, and even wars have not negatively impacted national
home prices since the 1930s.


There have been few times when local prices declined. In nearly all these cases, the
price declines were accompanied by sharp prolonged job losses. It is difficult to
foresee a price decline in ajob creating economy.

Homes trade far less frequently than financial assets (about one home sale every 7 to
10 years for most homeowners). There are also larger transaction costs associated
with selling a home due to the lengthy careful examination demanded by home
buyers and sellers. Therefore, home prices are not prone to fluctuations as in the
stock market.

There are neither panic sells nor margin calls associated with homes.

Many non-quantifiable factors could be important for this metro market in
determining home prices.

Access to cultural life, the quality of museums, nearby
local and national parks, water views, exclusive neighborhoods, weather, the
international airport, city vibrancy, restaurants, and a host of other non-quantifiable factors could have an important influence on the overall pricing.

There are immense tax benefits to owning a home. These tax considerations were not
considered in the analysis. For example, the 1998 law permitting primary owner
occupants to trade down without having tax consequences.

Also most home sales results in no capital gains tax. In addition, long-term capital gains tax rates were reduced in 2003, thereby providing higher return for home investors.

These positive benefits, if accounted for in the analysis, would have shown an even stronger case for housing fundamentals in supporting home prices.

Understanding a "Housing Bubble"

HOUSING BUBBLE PROSPECTS Q&As

What is a housing bubble?

As broadly interpreted, a housing bubble refers to an unsustainable gain in home prices. The premise is that a
price bubble is at risk of "popping," resulting in a loss of equity.


Has there ever been a national housing price bubble?

No, not since good recordkeeping began in 1968. There was a national decline in the 1930s during the Great
Depression; however, home prices were not a prime concern in that era. The greatest issues were essentials such
as food, clothing, employment and shelter of any kind. Declining home prices were a natural result of a general
economic collapse caused by the stock market crash in 1929.


What is the "normal" rate of home price growth over time?

Since 1968, the national median existing-home price has increased an average of 6.4 percent per year.
However, that includes a period of high inflation. A better frame of reference is in relation to the overall rate of
inflation. Home prices typically have increased 1.5 percentage points faster than the rate of inflation, as
measured by the Consumer Price Index.


What are the biggest factors that drive home prices?

In simple terms, it gets down to supply and demand. The inventory of homes available for sale has been
historically low since 2001, which is why home prices have been rising at above normal rates.
In a balanced market between home buyers and sellers, there typically is a six-month supply of homes on the
market. Over the last four years, the supply has hovered around 4.5 months. By contrast, in the recessionary
period of 1990-1991, there was in excess of a 9-month supply.


What conditions are necessary for home prices to soften or decline?

Generally, two conditions are necessary for price softness in a given area: an oversupply of homes available for
sale, and adverse economic conditions -generally a weak local job market. Sometimes these conditions occur
against a backdrop of overall economic weakness, recession or high interest rates.


Where and when have home prices declined in the past? What were the general market conditions?

Most metropolitan areas, especially in the Midwest and South, have not experienced price declines in the era of
modem recordkeeping. Iii the period from the mid-1980s though the early 1990s, many metros in the Northeast
and on the West coast saw localized declines. Typically, this occurred in large population centers with very
little capacity for growth. When housing shortages developed during a period of high demand, prices grew at
sharp double-digit rates -often over 20 percent per year -for several consecutive years.
After local economic conditions declined in those areas, home sales stalled and the inventory of unsold homes
rose, which eventually led to price softness or decline.


How long have home prices declined in the past?

Although there are exceptions to any general fmding, most metro areas that experienced price declines were
relatively short lived (several years). Most homeowners who went through such downturns --but stayed in their
home for a normal period of homeownership --still netted healthy gains when they sold. People view
homeownership as a long-tenn investment as opposed to the kind of quick-in, quick out investment that Wall
Street is fond of. Unlike stocks, homeowners don't panic sell simply because a home down the street sold for
less. Home prices tend to be sticky on the downside --usually a single digit decline in any given year following a
sustained period of double digit gains. Very few people buy at the top of a market and then sell in a short
timeframe. After several years, home prices level and return to normal appreciation patterns.


Should we be concerned that home prices are rising faster than family income?

No. There are three components to housing affordability: home prices, income, and financing costs -the latter
are historically low.
During the last four-and-a-halfyears of record home sales, there has been a shortage of homes available for sale.
As a result, home prices during this period have risen faster than family income. However, in much of the
1980s and 1990s, the reverse was true -incomes rose faster than home prices.
On a national basis, according to the Housing Affordability Index published by the National Association of
Realtors@, a median income family who purchases a median-priced existing home is spending a little over 20
percent of gross income for the mortgage principal and interest payment. In the early 1990s, a typical mortgage
payment was in the low 20s as a percent of income, and in the early 1980s it was as high as 36 percent. Overall
housing affordability remains favorable in historic terms.


What are the prospects of a housing bubble?

There is virtually no risk of a national housing price bubble, based on the fundamental demand for housing and
predictable economic factors. It is possible for local bubbles to surface under the right circumstances, but that
also is unlikely in the current environment. There are tight supplies of homes available for sale in most of the
country, and labor markets have been improving. In other words, the two conditions necessary for price softness
do not exist in most of the country.

The strong underlying demand for homes results from the simple fact that the population is growing faster than
the supply of homes. In addition, it is highly unlikely that the cost of construction will decline. In fact, .
construction material shortages are expected to continue and the cost of building and development is trending
up.


Baby boomers remain in their peak earning years. Echo boomers -the children of the baby boom generation -
are just entering the period of life in which people typically buy their first home. The echo boom is the second
largest generation in U.S. history. Considering the median age ofa first-time buyer is 32, echo-boomers will be
a big factor over the next decade. In addition, immigration has been strong for many years. Census data shows
that immigrants eventually achieve homeownership rates higher than do native born Americans -this also will
be a strong factor in housing demand in the future. Also, minority ownership rates have been trending up.
All this means the demand for housing is historically high and is one of the reasons 2005 will be the fifth
consecutive year of record home sales. Even in an economic downturn, the demand remains. If conditions
become unfavorable, home buying may be postponed, but a general price decline remains highly unlikely.


What is likely to happen with home prices?

The forecast is for mortgage interest rates to rise slowly over the next year, which will have a minor breaking
effect on home sales. The good news is that will help inventory levels to recover and allow the market to come
into a closer balance between buyers and sellers.
In other words, a general slowing in the rate of price growth can be expected, but in many areas inventory
shortages will persist and home prices are likely to continue to rise above historic norms.

Public Image of Realtors® Reaches All -Time High

Public Image of Realtors® Reaches All -Time High

CHICAGO (October 20, 2005) –Public opinion of the nation’s Realtors® has reached an all-time high for the third straight year according to an annual tracking survey conducted to measure the effectiveness of the eighth season of the National Association of Realtors®’ multimillion-dollar Public Awareness Campaign.

The survey’s composite image score of 19 beliefs, opinions and attitudes about Realtors® rose from 56 percent in 2004 to 59 percent—up 11 points since 2002. The survey also found that the likelihood of real estate consumers to use a Realtor over a real estate licensee who is not a Realtor® rose 4 points to 64 percent this year.

Some of the consumer beliefs and opinions that improved most over the past 12 months are: “Realtors® bring the latest technology to buying and selling a home” (up 6 points to 63 percent); “Realtors® have the expertise to help sellers price their home fairly” (up 4 points to 64 percent); “Realtors® earn their commission” (up 6 points to 50 percent) and “Realtors® advocate private property rights of homeowners” (up 12 points to 54 percent).

“Public support for Realtors® and the value Realtors® bring to the real estate transaction is higher than it has ever been. Consumer attitudes towards Realtors have been improving steadily for the past few years due to many factors, especially the effectiveness of the Public Awareness Campaign,” said NAR President Al Mansell of Salt Lake City.

Total awareness of NAR’s television and radio advertisements reached the highest level in the history of the campaign. Awareness rose 2 points to 73 percent—reaching nearly three out of four real estate consumers in America. In 2005, 55 percent of consumers recalled seeing or hearing at least one of the NAR advertising executions, an increase of 2 points over 2004. Awareness of the call to action introduced last year, “Ask your agent if they’re a Realtor®, a member of the National Association of Realtors®,” increased from 32 percent to 39 percent.

Beliefs about Realtors® that improved the most this year were: that they have the best network of sources to help buyers and sellers (79 percent up 6 points over year ago); that they are best qualified to promote the sale of a home (73 percent, up 12 points); that they are professional (70 percent, up 13 points); that they conduct business with ethics and integrity (69 percent, up 11 points); and that they get the job done properly (68 percent, up 10 points).

Buyers who purchased a home in the past 12 months reported a jump from 39 percent to 56 percent in agents identifying themselves as Realtors®, while sellers reported an even more dramatic 23 percentage point gain, from 41 percent to 64 percent.

Realtor® support for the advertising campaign continues at levels similar to those last year, according to a survey of NAR members conducted in concert with the consumer survey. Ninety-eight percent of all NAR members favor the ad program, 94 percent would like to see more advertising, and 78 percent rate the advertising effectiveness as excellent/very good (up four points). Sixty-seven percent of members, a significant 10 point gain over last year, cite NAR’s advertising as an important reason for joining the association.

The National Association of Realtors® Public Awareness Campaign kicked off its eighth season last February and it will end next week. New ads this season featured people talking about their real estate experiences and touting the benefits of working with a Realtor®. The ads encourage consumers to contact a Realtor® first when it comes time to buy or sell a home or lease a commercial space.

The $25 million advertising campaign featured four new television commercials this year and four new radio spots, as well as new customizable print ads, posters and Web banners for state and local associations to use. Commercials included NAR’s first-ever Spanish-language television ad. The new spot, which closely resembles the English-language version, featured Hispanic Americans sharing their hopes, dreams and stories about trying to achieve the American dream of homeownership.

The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing more than 1 million members involved in all aspects of the residential and commercial real estate industries.

National Parks in Florida

If you plan to visit Sarasota Florida here are a list of the National Parks located in Florida.
FLORIDA


Big Cypress National Preserve
Ochopee, FL National Preserve

--------------------------------------------------------------------------------

Biscayne National Park
Miami, Key Biscayne & Homestead, FL National Park

--------------------------------------------------------------------------------

Canaveral National Seashore
Titusville and New Smyrna Beach, FL National Seashore

--------------------------------------------------------------------------------

Castillo De San Marcos National Monument
St. Augustine, FL National Monument

--------------------------------------------------------------------------------

De Soto National Memorial
Bradenton, FL National Memorial

--------------------------------------------------------------------------------

Dry Tortugas National Park
Key West, FL National Park

--------------------------------------------------------------------------------

Everglades National Park
Miami, Naples, and Homestead, FL National Park

--------------------------------------------------------------------------------

Fort Caroline National Memorial
the Timucuan Preserve; Jacksonville, FL National Memorial

--------------------------------------------------------------------------------

Fort Matanzas National Monument
St. Augustine, FL National Monument

--------------------------------------------------------------------------------

Gulf Islands National Seashore
Gulf Breeze, Florida and Ocean Springs, Mississippi , FL,MS National Seashore

--------------------------------------------------------------------------------

Timucuan Ecological & Historic Preserve
Jacksonville, FL Ecological & Historic Preserve

--------------------------------------------------------------------------------



ParkNet U.S. Department of the Interior FOIA Privacy Disclaimer FirstGov

Sarasota Reading Festival

Sarasota Reading Festival


The Sarasota Reading Festival is an annual free community event promoting literacy and
celebrating the pleasures of reading. The Festival is one of our area’s special events that truly offers something for everyone! There are dozens of events, including readings and discussions by award-winning authors, book signings, food booths, inventive crafts, and children’s activities.

The Festival is held each year in downtown Sarasota, and attracted over 18,000 people in 2004.

The Festival is produced by Friends of the Selby Public Library, Inc., and New College Library Association, Inc. Presenting Sponsor is the Sarasota Herald-Tribune.

The 2005 Sarasota Reading Festival will be held Saturday, November 5, in downtown Sarasota.

Up-to-the-minute Festival information may be found at the Festival Web site, www.sarasotareadingfestival.com, or by calling 941.906.1733.


Begins: 11/05/2005 09:30 AM
Ends: 11/05/2005 05:00 PM

County, city to sell a lot of lots

Article published Oct 26, 2005
County, city to sell a lot of lots
Seized North Port properties to be sold for affordable housing

By Doug Sword

SARASOTA COUNTY -- North Port and Sarasota County will jump into the real estate market in a big way next week, hoping to make $50 million to $70 million that the county can use for affordable housing.

The county has already committed much of its windfall, expected to top $20 million, to affordable housing initiatives. While North Port hasn't yet dedicated its windfall, one commissioner said the city needs to use the money to pay for road projects.

While officials already had the money spent, a Web site is scheduled to launch Monday to whet the public's appetite for 2,100 North Port properties seized between 1998 and 2003 after the owners didn't pay their property taxes.

If the average parcel sells for $25,000, that would bring $51.2 million to the city and county after expenses.

The two governments hired Fisher Auction Co. of Pompano Beach on Tuesday to conduct the auction with bidding, some via the Internet, starting in early January and ending Feb. 11.

General Development Corp. originally sold the 2,100 lots beginning in the 1950s. After decades of little appreciation in value, the owners, mainly Midwesterners, stopped paying property taxes by the early 1990s, said David Bullock, deputy county administrator. At the time, a typical tax bill was only $20 or $30 a year, he said.

It's taken a decade to get control of the properties and for North Port and Sarasota County to settle a lawsuit over ownership. The two governments went to mediation and North Port will get 55 percent of the profit from the massive property sale, while Sarasota County gets 45 percent.

An initial estimate puts the estimated profits from the sale at about $50 million.

"I'd say that's conservative," said North Port Commissioner Barbara Gross. The city hasn't decided how to spend the money, but Gross would like to see much of it spent on improving roads.

The county will spend its share on affordable housing initiatives and infill development, which could include extending utilities to parcels in urban and suburban areas that development has skipped over.

The 21,000 properties, scattered throughout North Port, have been unwanted for years. During the 1990s, they were all put up for public auction because of unpaid back taxes. But there were no bidders.

Officials say that won't be the case this time around. The properties were appraised at $11 million two years ago. North Port's population has risen by 55 percent over the last four years so the two governments expect that appraisals could easily quadruple.

Based on recent sale prices, the average bid price during the auction could be $35,000, said Larry Arnold, general manager of business operations for the county's public works department.

Four questions to ask yourself before you jump on the home buying bandwagon

Should I buy a house?


Four questions to ask yourself before you jump on the home buying bandwagon.
April 4, 2005: 8:54 AM EDT
By Sarah Max, CNN/Money senior writer

Salem, Ore. (CNN/Money) –A month ago my friend caught me off guard when she asked the seemingly simple question: "Should I buy a house?"

After seeing all of our friends – even the single and unsettled – jump on the buying bandwagon, this free-spirited friend was starting to think that she too should commit to a mortgage.

"Am I going to kick myself a year from now for not doing it?" she asked.

"Do you even know where in the world you'll be a year from now?" I came back, thinking of recent conversations about out-of-state job opportunities and international fellowships.

Still, I wasn't about to take responsibility for this kind of decision.

So I did what any good friend would do: I asked a few leading questions and waited for her to come to her senses.

Why do you want to buy a house?
It used to be that buyers wanted to find a place to live, with the additional benefit of making some money over the long run. Increasingly, buyers say they want to find a place to invest, with the additional benefit of having somewhere to live in the short term.

Yet, even cheerleaders of the housing market warn that double-digit price gains aren't realistic. David Lereah, chief economist of the National Association of Realtors and author of the new book "Are You Missing the Real Estate Boom?" says he expects healthy price appreciation through the next decade. But his idea of healthy is 4 percent to 6 percent a year.

Even in strong markets, you may not break even if you sell too soon.

Let's say my friend buys a $200,000 house and sells it a year later for 10 percent more than she paid, which a pretty nice return by historical standards. After she pays a real estate agent, accounts for her closing costs and pays capital gains taxes, she'll walk away with less than $4,000 -- which is what I'm guessing she would spend sprucing up the house.

If the house appreciates only 5 percent, she'll lose money on the deal.

True, my friend could hold the house and rent it out. Of course, if she's not sure she's ready for the responsibilities of owning a house, she's definitely not ready to be a landlord.

At least she won't throw away money renting, right? Actually, most of her mortgage payment will go toward interest during her first year, and what little she puts toward principal will be eaten up by property taxes, insurance and other costs of owning.

A reasonable timeframe is three to five years, said Linda Marcelli, managing director of Merrill Lynch in Tampa Bay, Fla. "If you do happen to buy a house at the top of a market, you need to have flexibility to wait for prices to come back," she said.

Can you afford it?
Given that you can buy a house with no down payment, roll your closing costs into your mortgage and opt for an interest-only loan, this question might sound outdated.

But buying a house still takes money even if you manage to keep your mortgage payments low and save on closing costs. Between the time you pay for a home inspection and make your hundredth trip to Home Depot -- and I'm speaking from experience -- you could spend thousands of dollars in incidental expenses.

"We always advise people to have a cash reserve of four to six months of expenses in the bank," said Marcelli. "But if you're buying a house you should have even more."

What is the cost of renting?
Nationally, the gap between the cost of renting and the cost of owning is now the widest it's been in a decade, according to Gleb Nechayev, senior economist for Torto Wheaton Research. In most markets, he said, the price of owning has gone up while the cost of renting has remained flat or declined.

If you're weighing the pros and cons of buying, you might find it useful to take the pulse of the local rental market for a couple of reasons.

First of all, you might learn that you can actually save more money renting over the course of a year or two than you would on an appreciating home. My friend thinks she could rent a small two-bedroom house for about $700 a month in her market.

Her mortgage, property taxes and insurance on a similar house would likely ring in at close to $1,300 a month. At that rate her house would need to appreciate more than 10 percent in a year (assuming she sells with an agent) for her to walk away with more than she saved renting.

Second, the relationship between rent prices and the cost of owning is one way to gauge the health of a real estate market.

"There is an underlying relationship between home price and rents in close analogy to the stock market's [price-to-earnings ratio]," said Nechayev. If the cost of owning is significantly higher than renting similar property, the housing market may be overvalued relative to its economic fundamentals.

Are you ready to commit?
You should weigh the pros and cons of owning, take a close look at what you can afford and research your local market. But, at the end of the day the answer to the question "Should I buy a house" isn't going to show up on a spreadsheet or be revealed by a survey of friends and family.

"Emotionally, I'm not ready to commit," my friend told me a few weeks after she first came to me with her dilemma. "I feel like I should listen to that."

"A house is a huge commitment," I added, thinking how instead of touring Europe this summer I'll be landscaping my overgrown yard and pulling up tile in an out-of-date bathroom. "You'll know when the time is right."

As the saying goes: You want to own the house. You don't want the house to own you.

Sarasota #4 in Nation

DANA SANCHEZ
Herald Staff Writer

MANATEE - We're on the map in more ways than one.

Manatee County's recent astronomical property appreciation rate - 41 percent this year - brought national attention to the area. Now the growing Sarasota-Bradenton Metropolitan Statistical Area is drawing attention for other reasons: showing up on quality-of-life indexes on an almost daily basis.

Like Entrepreneur Magazine's Top 50 Places for Entrepreneurs (Sarasota-Bradenton was No. 47) and Colin Powell's Alliance For Youth 100 Best Communities for Young People (We showed up on the unranked list). We're also No. 8 on a list of 100 top renter-friendly midsize towns by ApartmentRatings. com.

On Tuesday, the area landed the No. 4 spot on a list of the 10 hottest major metropolitan markets for jobs by American City Business Journals.

Sarasota-Bradenton is the top Florida market for jobs and is bettered by only Las Vegas, Phoenix and Washington, D.C., according to a report at www.bizjournals. com.

The study compared unemployment rates (3.5 percent for Sarasota-Bradenton in June, down from 4.4 percent last year), non-farm employment, jobs added and the percentage change.

This area's work force grew by 16,500 jobs from June 2004 to June 2005, the study found. That's a 5.6 percent increase.

Quality of life and a growing population are getting the area onto lists, said Nancy Engel, executive director of the Manatee Chamber's Economic Development Council.

"When your metropolitan statistical area grows, that kicks in more things being recognized," Engel said.

The population for the Sarasota-Bradenton Metropolitan Statistical Area is 639,438, according to the U.S. Census Bureau's 2004 American community survey.

Some list-makers consider that a large city like Entrepreneur.com, which ranked the hottest large, mid-size and small cities for entrepreneurs.

Sarasota-Bradenton ranked 47th on its list of top 50 large cities to start and grow a business. Phoenix ranked No. 1 followed by Charlotte and Raleigh-Durham, N.C., and Las Vegas.

Phenomenal demand for real estate has helped Sarasota-Bradenton rank high in quality-of-life indexes, said Jim Parrish, a business analyst at the University of South Florida's Small Business Development Center in Tampa.

"When people move to an area to achieve quality of life, they need things," Parrish said. "Any business oriented towards consumers is going to do very well." That includes restaurants, retail establishments, financial services and banking, he said.

Here's a list we didn't show up on: Forbes' 2005 list of most expensive ZIP codes. Heading that list was the Atherton, Calif., ZIP code 94027, with a median home price of $2,496,553. Miami Beach's 33109 ZIP code was the most expensive Florida ZIP to make the list, with a median home price of $1,505,655.

This compares with Sarasota-Bradenton with a median home price of $347,400 in August, up 34 percent from $258,700 last year, according to the Florida Association of Realtors.

Here's an informal sampling of other lists ranking Sarasota-Bradenton:

• The area ranked No. 161 for risk from diesel soot out of 359 metropolitan statistical areas, according to a February study by the Clean Air Task Force using data from the Environmental Protection Agency.

• The Milken Institute, a nonprofit economic think tank ranked Sarasota-Bradenton sixth in a list of top performing cities in November.

• Sarasota ranked third in a list of top 10 Best American Art Towns, a guide to galleries, museums, festivals, lodging and dining, according to the Economic Development Corp. of Sarasota County.

• Sarasota was named sixth on a list of best markets for the creation of start-up businesses, according to a study by SalesGenie.com.

Lakewood Ranch gets first assisted-living facility

REBECCA BLUE
Bradenton Herald Staff Writer

LAKEWOOD RANCH - Over the past few years, family members frequently encouraged Mary Lee O'Neil and her husband, Joseph, to enter an assisted-living facility.

But leaving behind a six-bedroom ranch house in Lincroft, N.J., just wasn't something this 90-something-year-old couple wanted to do.

"We were afraid we'd have regrets about leaving behind our home of 32 years. We had wonderful neighbors and friends," Mary Lee O'Neil said.

When their nieces, both Lakewood Ranch residents, found out an assisted-living facility was coming to their neighborhood, they saw an opportunity.

The opportunity coincided with New Jersey's frigid 2004 winter season, which caused the O'Neils to change their thinking.

"We had to have our driveway plowed seven times. That did it. That was our last winter," Mary Lee O'Neil said.

The O'Neils moved into their 604-square-foot "Osprey" apartment at The Windsor of Lakewood Ranch on Sept. 14. In the two weeks they've resided at the new facility, they've quickly made themselves at home.

Joseph O'Neil is particularly fond of the relaxing atmosphere.

"I'm looking forward to the lack of chores," he said.

So far, the Windsor, 8220 Natures Way, is at one-third of its 86-room capacity. A good chunk of its residents are similar to the O'Neils. They have adult-aged children living in Lakewood Ranch, according to Jason Rosenberg, residence director.

"It's convenient and allows the family to be closer," Rosenberg said.

The average age of The Windsor's residents is 82. The facility allows its residents to come and go as they please. Transportation is provided but some of the residents still drive, according to Rosenberg.

The Windsor's owners, Pete Russell, Cathy Layton and Tim and Gail Buchanan, are all local residents and have been in the business for more about 15 years. They also own The Windsor of Bradenton and The Windsor Oaks, also located in Bradenton.

When they envisioned the Lakewood Ranch facility, they wanted to maintain a homey feeling, Russell said.

Two stories tall, the facility is surrounded by a wildlife nature preserve, complete with a lake on its west side.

The Windsor offers eight one-bedroom floor plans, ranging from 360 to 604 square feet and costing from $2,325 to $3,200 a month. The base service plan also includes a life-enrichment plan with several activities; weekly housekeeping, personal laundry and linen services; three meals a day; all utilities, except phone services; and 24-hour staff availability.

Residents can add on tailored services such as medication management, specialized diets and assistance with bathing, grooming and other personal-care needs. Companion service is also available to perform errands, escort residents to facility events or outside activities, and for additional housekeeping services.

The Windsor also offers a dining room with a view of the preserve; a living room with a 55-inch screen television complete with surround sound; media and game rooms; a library; a screened lanai and courtyard; a personal care suite for health and wellness evaluations and service; a therapeutic spa; and a beauty salon.

Rebecca Blue, Herald reporter, can be reached at rblue@HeraldToday.com or at 708-7919.

--------------------------------------------------------------------------------

© 2005 Bradenton Herald and wire service sources. All Rights Reserved.
http://www.bradenton.com

Burnt Store Road getting 1,800 homes

By John Heys
Sarasota Herald Tribune

CHARLOTTE COUNTY -- Lennar Communities plans to build a golf course community of 1,800 homes off Burnt Store Road in Charlotte County.

The community, dubbed Tern Bay, will feature a mix of single-family homes and condominiums on 1,700 acres south of Punta Gorda and north of the Lee County line, Lennar announced Tuesday.

A 27-hole Chip Powell-designed golf course, with a clubhouse, restaurant and fitness center, also is planned.

US Home and Lennar will build homes in the community. Prices haven't been set, but Lennar says it expects them to be "competitive for the area."

The project developer, Tern Bay Development Co., committed in January to widen nearly two miles of Burnt Store Road in return for impact-fee credits from the county worth about $5.6 million. The two-lane road will be widened to four lanes.

Lennar has built more than 25,000 homes in Charlotte, DeSoto, Manatee and Sarasota counties.

On Monday, the Miami-based company reported better than expected third-quarter earnings. Net earnings for the quarter were $337.3 million, or $2.06 per share, compared with $225 million, or $1.36 per share, in 2004.

That beat several Wall Street estimates.

New Flood Insurance Program Starts Oct. 1st

September 27, 2005 Reality Times

New Flood Insurance Program Starts Oct. 1st


Coverage under the nation's flood insurance program will change as October 1st, a long-planned event not directly related to Hurricanes Katrina and Rita, but one that will substantially impact those most likely to be flooded in the future.

Until this point the National Flood Insurance Program (NFIP) has provided three basic levels of coverage:


Owner-occupants could obtain as much as $250,000 for property damage plus $100,000 for lost contents.

Tenants could insure personal property for as much as $100,000.

Investors could get coverage of up to $500,000 per property, a figure which includes both damage to the structure as well as contents.
Depending on where you lived, maximum residential coverage for the structure and contents ranged from $703 to $1,822 per year. Less coverage was also available with lower annual premiums.

The problem with the program's long-term approach is that while coverage was fairly equivalent, claims were not. For instance, one study done by the National Wildlife Federation found that 5,629 homes had 19,979 flood insurance claims.

These homes had a gross value of $307.5 million -- but because of repeated claims owners obtained flood insurance payments worth $416.3 million. That's right -- insurance coverage was more than $100 million greater than actual property values.

The problem of repetitive losses structures is huge. Essentially the current insurance system encourages folks to build again and again in the same way and in the same spot where they have previously been inundated.

"About 1 percent of the 4.4 million properties currently insured by the program are considered to be repetitive loss properties," says the General Accounting Office. However, this magical 1 percent produces about 38 percent of all program claim costs, $4.6 billion since 1978.

In other words, a lot of people overpay for flood insurance to assure the coverage of those most likely to be inundated. Seen the other way, those most likely to be flooded are paying less than they should.

As of October 1st, however, program rules will change. Under the Bunning-Bereuter-Blumenauer Flood Insurance Reform Act of 2004 -- legislation signed into law in June 2004 -- owners with flood insurance will get a chance to upgrade risky properties. If they don't, insurance premiums will soar.

Under the new rules:


A "severe repetitive loss property" is defined as a structure with one to four units with four or more separate flood insurance payments exceeding $5,000 each or a total of more than $20,000 in claims. A property with two claims which together exceed the value of the property is also defined as a "severe repetitive loss property."

Grants will be available for elevating risky properties, relocating them to higher ground, demolishing properties prone to flooding, flood-proofing risky properties and buying them outright.

Owners of flood-prone properties can decline such offers and have a right to appeal "repetitive loss" designations.

Premuims will increase 150 percent above current flood insurance rates for those who refuse to mitigate.

If a damage claim to a property exceeds $1,500 and the property owner has refused mitigation, the insurance premium will again increase 150 percent.
The plain purpose of the new flood insurance standards is to target those properties most likely to produce claims -- and to force owners to either improve what they own or to pay more for flood coverage.

That seems both logical and fair.

The new flood insurance rules are surely a better approach than the old standard if only because they target the properties most in need of mitigation. That said, there are several issues to consider:

First, it's difficult to imagine that many beach-front structures -- no matter how elevated or flood-protected -- can be defended in the face of Katrina, Rita and storms of similar size and power. It may be that we are entering a new era of hurricane activity, one that will cause even further changes in the construction and insurance of beach-front property.

Second, beach-front structural improvements without wetland and barrier island re-development are useless. Unless we get serious about coastline ecology, it's easy to see where taxpayer money will be washed out to sea.

Third, what about those impacted by Katrina and Rita? Will homes destroyed by these hurricanes be instantly defined as "severe repetitive loss" properties? If yes, one can assume that virtually all Gulf Coast owners will accept mitigation or buy-out offers.

For more articles by Peter G. Miller, please press here.


--------------------------------------------------------------------------------
Written by Peter G. Miller



--------------------------------------------------------------------------------

Copyright © 2005 Realty Times. All Rights Reserved.

Prepare for the Manatee of tomorrow, CEO says

MATT GRISWOLD
Herald Staff Writer

LAKEWOOD RANCH - Manatee County continues to change, but Rex Jensen's message does not: Growth is coming, like it or not. So plan and prepare - or suffer the consequences.

It's not the first time that Jensen, president and chief executive of Lakewood Ranch developer Schroeder-Manatee Ranch Inc., has given his "Nature of Planned Growth" talk and it won't be the last. But with each passing month, as out-of-town residents continue their influx into Manatee County, the weight of Jensen's words get heavier and heavier.

"Regulation hasn't stopped, or even controlled, growth," Jensen said. "We need a shift of thinking from trying to manage growth to trying to plan for it."

About 75 people were on hand Wednesday for the Manatee Chamber of Commerce-sponsored presentation.

It's poor planning, he said, that is responsible for all of the people who oppose new growth.

"I don't blame people for not liking growth," he said. "It's linear, environmentally negative and unattractive. It consumes infrastructure without providing any."

His company's master-planned development - Lakewood Ranch - is a good laboratory, he said, to study growth planning and how it can be dealt with efficiently and effectively.

Jensen identified insufficient roads and county policy on residential density requirements as the two biggest problems facing the area.

"The roads we have today won't support the population of tomorrow," he said.

Jensen pointed to the State Road 70 widening project which he says should have been done 10-15 years ago.

County Commissioner Donna Hayes was on hand for Jensen's talk and, like Jensen, believes that transportation is one of the most important issues facing Manatee County.

"There's no doubt about it. We missed the boat on transportation," Hayes told The Herald. "We haven't been able to keep up with it."

She said a new east-west connector, like extending 44th Avenue all the way out to Lakewood Ranch, will help ease congestion on heavily traveled arteries like S.R. 70 and State Road 64.

Hayes is also a proponent of developing a new transit system to include buses and trolleys that people would use to get to and from work each day.

The commissioner also said the county is going to have to make some concessions with developers regarding density if there's any hope of developing housing that is truly affordable to the average worker - something that is imperative if Manatee County is to continue to attract new employers.

Jensen said it's critical to start working on these problems now. Problems can't continue to worsen without economic and quality-of-life ramifications, he said.

"Look at the places we draw people from - New York, New Jersey, Michigan, Ohio. How long will it take for this place to get worse than another place? We can't let it get that far."

Matt Griswold, Herald business reporter, can be reached at 708-7908, or at mgriswold@HeraldToday.com.

Tips for Real Estate Investors

Tips For Real Estate Investors


Got the real estate investment bug? You aren't alone.

By the end of 2004, the National Real Estate Investors Association's 20,000 affiliated members were double the previous year's numbers, but even at 20,000 represented only about one fourth of all U.S. real estate investors in investment clubs, the association said.

Investors accounted for what's likely a record 23 percent of all home sales last year, according to the National Association of Realtors' "2005 National Association of Realtors Profile of Second-Home Buyers."

While the investor purchase portion is 23 percent, other second home buyers who become aware of the potential for a return on their property may very well take a more speculative approach. The second home market now accounts for 38 percent of the existing housing stock and 36 percent of all homes purchased last year, NAR said.

"These aren't second homes. You know where that down payment is coming from. People are leveraging one price asset against another on a pure momentum play," said Robert M. Campbell, a San Diego-based investor and author of "Timing The Real Estate Market."

Residential real estate investors have become a driving force in the residential real estate market -- much as the dot com stock market did to create the New Economy and the longest economic expansion on record.

But just as the dot com bust littered Wall Street with lost shirts, a real estate down turn could leave blood red ink flowing down Main Street if rookie investors let the lure of green cloud their judgment.

We talked to individual investors, real estate agents who also invest, investment clubbers and others to help get you started with the dos and don'ts of real estate investments.

Here's what they suggest.

Buy your own home first. Buying a home will not only put a roof over your head, but teach you the true cost of property ownership beyond the monthly mortgage payment, give you a primer on financing, school you on how location and changing market conditions affect property values, give you the angle on tax and other home owning benefits, help you learn about property maintenance, introduce you to a host of professionals who could prove invaluable when you really get into investments and otherwise act as a prerequisite foundation for higher studies in real estate investments.

Even before home ownership the process of buying a home provides basic information that later could prove invaluable to you as an investor. What's more -- your first home could later become your first investment property, a property in a market with which you are familiar.

"I bought my first house on May 1, 1981. The property became a rental in February 1988. Technically it was 50 percent a rental in June 1981 as I shared the house to afford it," said Richard Calhoun, a real estate investor for nearly two decades.

Go back to school. A booming real estate market that pushes your home value up by double digit percentages in the first year doesn't automatically make you a savvy investor any more than the dot com boom could have made you a stock market mogul. After you buy your own home turn to the Internet, libraries of books by reputable authors, successful, credible investment groups, college and university level courses. Individual real estate investors, salespeople and others who you met on the way to home ownership may also be valuable resources, both for information and perhaps as a mentor.

Using more than one resource will help you cancel out the bad information and ferret out the good.

"The importance of knowledge and education cannot be overestimated and is almost always underestimated," said Calhoun.

Get professional help. The same way you find any competent, trustworthy and honest professional is the same way to look for a mentor, investment partner with prior knowledge or investment group. Seek referrals from friends, family, professionals with whom you already conduct business, co-workers and others you trust who've recently had a satisfactory, successful experience investing in real estate. Someone who already knows the ropes comes in handy when you need a leg up on a deal.

"There are many honest and reliable outfits and clubs that are genuinely beneficial to those looking to increase their knowledge. That's one of the good things about a club -- you get to ask other people whose information is good and whose is garbage," says Phyllis Rockower, founder of the Real Estate Investor's Club of Los Angeles.

You'll also need professional help once you are beyond the buying stage -- someone to manage your investment for example.

"For many, the question of managing rental properties is resolved by the proximity to the property and the willingness on the part of the owner to invest the time required to market and manage the property. Often, it makes sense for those far away to take advantage of a "local" property manager. The rewards of self management may be great, but one needs to consider the time investment required," said Bart Meltzer, president of RentOne Online, a Scotts Valley, CA, Web-based marketing and management tools provider for vacation rental managers.

Learn your investment market. One market's bubble could be one investor's boom and another investor's bust. A home in one market could give you vacation rental income in a half year sufficient to cover the cost of principal, interest, taxes, insurance, home owner association dues, upkeep and other costs, but not appreciate, while another home in another market won't bring you enough rent to cover your expenses but appreciate more than enough to make up for it over the long term. The variables are endless.

"The most common mistake of inexperienced investors is to make the mistake that one area is the same as another," said Romeo Danais, who has investments in Oklahoma, Texas and New Hampshire.

"Twenty-five years ago, a bunch of guys in San Jose, CA, 'discovered' Sacramento, CA, investment real estate. Duplexes could be purchased for half the price of San Jose duplexes. So these guys purchased a lot of duplexes and then made another 'discovery'. The Sacramento duplexes didn't rent for as much as duplexes in San Jose. In fact, due to the glut of empty duplexes in Sacramento they rented for even less than the differential in prices. Assuming rather than proving is a big mistake," Danais said.


Written by Broderick Perkins

How Does the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 Affect Your Rights?

By M. Lewis Hall, III, Attorney, Williams Parker Harrison Dietz & Getzen, Sarasota Florida
(941) 366-4800

On April 20, 2005, President Bush signed into law the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (the “Act”), making the most significant change to the Bankruptcy Code since 1978. Most of the changes made by the Act go into effect October 17, 2005. A few of the provisions, particularly the limitation on the homestead exemption, became effective immediately upon enactment. Most of the changes made by the new Act primarily affect individual consumer bankruptcy filings, but there are provisions affecting both corporations and small businesses.

At the heart of the new Act is the abuse standard for Chapter 7 (liquidation) filings. The abuse standard requires a debtor who is seeking Chapter 7 bankruptcy relief to pass one of two income tests – otherwise, the debtor will have to resort to either a Chapter 11 (reorganization) or a Chapter 13 (reorganization) for bankruptcy relief.

The limitation on the homestead exemption could be the most significant new provision in Florida, due to Florida’s unlimited homestead exemption. The provision reduces the debtor’s homestead exemption for increases in home value that resulted from the use of non-exempt property by the debtor, “with intent to hinder, delay, or defraud creditors” in the 10 years prior to the debtor’s bankruptcy filing. The new Act also contains a two-year residency requirement provision for state property exemption laws to apply – in other words, the debtor’s place of domicile for the previous 730 days will govern which state’s property exemption laws apply in the filing.

The new Act does increase the list of possible exclusions from a debtor’s bankruptcy estate. The most noteworthy of these exclusions include contributions to qualified benefit plans, education accounts or tuition credit accounts, and property transferred to tax-exempt organizations.

Other notable changes within the Act include longer wait times before filing subsequent bankruptcy cases, greater document production requirements, mandatory credit counseling as a prerequisite to filing a bankruptcy petition, and a provision allowing a Trustee to pay a tardily filed claim under certain circumstances.

Property Tax Roll-Back

Residential Real Estate Tax-Reform Program / Affordable Housing Incentive

Goals:

1. Increase affordable housing in Sarasota
2. Insure current homeowners can afford their Sarasota homes
3. To strengthen the current housing market

Program:

All currently homesteaded property / or declared “second home property” would have their real estate taxes rolled-back to 9/11/2001 or the least tax ever assessed on the property since 2001, such as newer construction.

An owner would only be able to declare 1 property as a ‘second-home”.

When an owner sells his primary or second - home property and purchases another property of greater value which will also be homesteaded or declared “a second home, he “takes with him” his property tax from the house he is selling.

Also the new purchaser of the subject property may “keep the rolled back tax” if he intends to homestead the property or declare it a “second-home. If the property is being purchased not as a primary or qualifying second home, the tax would be at the current assessed value.

Also,

1. In order to qualify as an approved second-home, the property must be located at least 75 miles from the purchaser’s primary residence.

2. First-time home buyers will have their property taxes frozen for 3 years.

3. All new construction would be taxed according to current value.

Bubble? What Bubble?

from the New York Times...

August 23, 2005
Bubble? What Bubble?
By CHRIS HARRIS
Los Angeles

SO, you've been thinking about buying that first home, but you keep reading reports that this "housing bubble" may finally be nearing its peak. Things are cooling off; better sit things out for a while, right? Well, you've never been more wrong in your life.

As an expert in the field - I've spent my entire life living in or behind homes - I can assure you that aside from any moment in the past decade, there has never been a better time to enter the real estate market. Here are two important reasons.

We already experienced the Internet bubble. The crash taught us all that a feeling of invincibility can lead to disaster. Now that we've learned this humbling lesson, there's absolutely no possible way it could ever happen again to us.

More important, the housing market is incredibly durable. Unlike sneakers with lights in them or monogrammed poker chips or - I believe - computers, houses are not some fad that people will any day now look at and say: "This is stupid. I don't want mine anymore." Housing is a basic need, not unlike shelter.

The following Q. and A. should ease any remaining concerns.

Q. Are you sure I haven't missed the boat? Housing prices have risen so much already.

A. Actually, if you look at this chart, which is based on my years of research, you'll find that prices have been remarkably stable. No less a man than Winston Churchill put it best: "Now this is not the end. It is not even the beginning of the end. But it is, perhaps [a phenomenal time for buying that starter home you've had your eye on]."

Q. Winston Churchill really said that?

A. I don't know why you're arguing with me. I used quotation marks.

Q. With my luck, the second I buy a home the market will collapse.

A. This just doesn't make any sense. There are literally trillions divided by trillions of new homeowners every week. Do you really think the entire market is geared to maximize your bad luck?

Q. I'm still not convinced.

A. Well then, look at these numbers:

Now: 58

Five years from now: 8,472

That's a nearly 15,000 percent increase!

Q. Wow. Wait, what exactly are those numbers?

A. What? What kind of question is that? This is just the kind of foot-dragging that's kept you paying rent on the same roach-infested closet for years while your home-owning friends have gotten fantastically wealthy. Did you know that we homeowners are having Champagne-and-caviar parties every weekend and not inviting you?

Q. Come on.

A. It's true. And sometimes we hire the White Stripes to play. That's right, the White Stripes. You love the White Stripes, don't you? Then buy a house!

Q. Aren't you being a little pushy?

A. What on earth is wrong with you? I'm doing this as a favor. It's not like I'm desperately trying to convince you because I myself have overspeculated in the housing market, now suddenly it's peaking, and if it doesn't continue its insane and completely unjustifiable rise then I'll lose everything. It's not that at all. Just relax.

Q. You relax.

A. I am relaxed. You're the one who's not relaxed. I'm totally fine.

And so to all prospective buyers out there, I say be confident as you pursue the American dream of owning your own home. And to my aunt in San Francisco, I love you and desperately need to ask you for a favor. Please return my calls before the 12th of next month.

Chris Harris is a writer for the forthcoming television show "How I Met Your Mother."



Copyright 2005 The New York Times Company Home Privacy Policy Search Corrections XML Help Contact Us Work for Us Back to Top

Air Tran to Fly NYC & Boston Non-Stop

MANATEE - AirTran Airways on Wednesday announced plans to add daily nonstop service to area fliers' top two destinations - New York and Boston - from Sarasota-Bradenton International Airport beginning in November.

The expansion brings the number of destinations offered by the low-cost carrier to seven since it began service at Sarasota-Bradenton in December.

The latest announcement represents a milestone and promises to stimulate interest from other airlines, airport officials and an aviation consultant said.

An elated Fred Piccolo, airport president and CEO, told airport authority members Wednesday that AirTran's rate of expansion is "unheard of" in the industry.

"Up until a year ago, Sarasota-Bradenton was viewed as a risky airport," said Mike Boyd, an aviation consultant with The Boyd Group in Evergreen, Colo.

Boyd, who worked with Sarasota-Bradenton International Airport to attract AirTran, said SRQ could be one of the fastest-growing small airports in the nation in the next two years.

"The airport is coming of age," Boyd said. "Airlines are discovering markets like Sarasota-Bradenton, where they can make money. The days are over when you have to worry about air service there."

Daily round-trip flights to New York's La Guardia Airport will begin Nov. 8 using Boeing 717 aircraft. Service to Boston's Logan International Airport will begin Nov. 16 on Boeing 737s.

An AirTran spokeswoman confirmed the airline's satisfaction with the Sarasota-Bradenton market.

Adding seven destinations in eight months "is certainly a record for us," said Judy Graham-Weaver, public relations manager with AirTran. "We want routes that are going to be profitable and well received by the market. So far, everything we have put into SRQ has done just that."

With the new service, AirTran will serve seven of the top 10 destinations from Sarasota-Bradenton airport, including the top two - New York and Boston - said John Kirby, AirTran's director of strategic planning, in a news release.

AirTran destinations from Sarasota-Bradenton include Atlanta, Baltimore-Washington, Chicago, Detroit and Indianapolis.

"New York City is our No. 1 market, and Boston, over the years, has consistently been a top-five market despite the lack of nonstop service," Piccolo said.

Piccolo celebrated by presenting airport authority Chairman Bob Waechter with New York Mets, Yankees and Boston Red Sox baseball caps at the monthly authority meeting Wednesday.

"We've been trying to get nonstop service to Northeast destinations for years," Piccolo said.

Passenger traffic was up 20 percent at SRQ in June, and up almost 20 percent for the year.

Boyd estimates about 1 million passengers in the Sarasota-Bradenton area have used other airports because of the lack of seats and higher fares associated with flights departing from SRQ.

But all that's history, Boyd said.

"Both have been addressed," he said. "This is just the start."

Waechter echoed the optimism.

"We hope other airlines will look at us," Waechter said. "We have built it. Now they can come."

New High School Opens

RICHARD DYMOND
Herald Staff Writer

EAST MANATEE - It was a long road, but Braden River High School opens today to take its place as Manatee County's sixth high school.

Built on the history-rich corner of State Road 70 and Caruso Road in East Manatee, the vast, red-brick campus features eight academic buildings woven amid athletic fields and a football stadium.

The school opens with an enrollment of 650 freshmen and sophomores and about 900 King Middle School students, displaced by demolition and rebuilding of their school.

With its acoustically advanced auditorium ceiling, looking so high-tech that one subcontractor dubbed it "The U.S.S. Enterprise" from Star Trek, Braden River High School blends sophisticated with simple.

"The buildings were mostly rectangles because that affords the most space and is easiest to build on time," said project manager Matt Lethbridge of W.G. Mills Construction Company. "Then you have the ceiling of the auditorium where, to achieve great acoustics, you see double and triple angles that leave you speechless."

For 75 years, the only thing acoustic about the site where Braden River High now sits was the sound of rain on greenhouse roofs.

The University of Florida's Gulf Coast Research and Education Center once resided on the 195 acres at the corner of Caruso Road and S.R. 70. In 2001, the university decided to close the landmark center because the facilities had aged beyond renovation.

There was an outcry from growers, politicians and local citizens.

"We are not talking about a facility here; we are talking about tradition," said then-state Rep. Mike Bennett, R-Bradenton.

Although Bennett and other political leaders were able to get a three-year stay-of-execution for the local center, it was obvious that fate was about to introduce S.R. 70 and Caruso Road to its next occupant.

On Oct. 8, 2002, the Manatee County School Board voted its intent to buy the 195-acre site from the University of Florida and turn it into a high school modeled after Lakewood Ranch High School and designed for 2,000 students.

"If you looked all over Manatee County, you couldn't find a more ideal site for the next high school," said then-Superintendent Dan Nolan.

There were approximately 1,000 high school students living between U.S. 301 and Interstate 75, most attending Lakewood Ranch at the time, school officials said.

Desperately needing a high school to relieve crowding at Lakewood Ranch High, school officials set their sights on meeting an August 2004 opening date.

Public reaction was mixed. One concern was traffic.

"I don't agree with it," said Sonny Newberry, a resident of nearby Tara. "I think it's going to make a lot of congestion at Caruso Road."

During routine soil testing of the site, the school district discovered four small areas of chemical contamination, residue of the former agricultural operations.

The county and the university haggled over the problem and the university finally agreed to pay about $100,000 to clean up the site.

On March 3, 2003, the deal was done - Manatee County had the hot corner for $11.9 million and all attention turned to getting a $38 million school started.

The best-laid plans

On April 14, 2003, the school board broke ground on what was then known as AAA High School.

Excitement was in the air.

"What this all means is that classes will not be overcrowded and we will not have double sessions at Lakewood Ranch High School," Nolan said.

But the excitement was short-lived.

In June 2003, a prehistoric American Indian burial mound was found near the site, causing Southwest Florida Management District to put brakes on the project.

Construction was held up three months.

The mound was used by an unnamed tribe to bury its dead as long ago as 200 A.D., before the Spanish came to Florida, before the days of the Seminole Indians, said Bill Burger, a local archeologist who investigated the site.

By the time The Florida Division of Historical Resources cleared Southwest Florida Water Management District to issue the permit, the school board decided to delay the opening.

The board said that since the school wouldn't be finished until four months into the 2004 school year, it would open in August.

Blessing in disguise

The core of the campus - the eight academic buildings - took 16 months to build and were completed Oct. 29.

Even though the athletic fields and other areas were not done, the classrooms were ready and a need arose to use them.

King Middle School students began attending Braden River High in April this year while their school was being torn down.

"It was a great help," said Sheridan Dowling, the head of construction services for the school district. "King now has walls coming out of the ground because we could demolish that building the first of April."

As a result of concern over possible traffic congestion on Caruso Road, the district and the county teamed up for a plan to add lanes to Caruso Road and improve the intersection at S.R. 70 and Caruso Road.

Although construction has been going all summer, it won't be ready this month, Dowling said.

"I would say this is the only negative associated with the project," Dowling said. "The roadwork took a tremendous amount of time in permitting and the work is detailed. You have to move all the subsurface and above ground utilities."

Caruso Road won't be finished until late October, Dowling said.

There are also plans for a road on the southeast corner of the campus, giving access to S.R. 70.

"I would say we are many, many months away on that," Dowling said. "I don't think the permits will be worked out for six more months."

But Dowling gives the campus itself high praise.

"In my opinion, it's the most beautiful school we have ever built," Dowling said. "The most striking thing about the facility is the beauty of the brickwork. The patterns give it a very rich and distinctive look."

The 369,000 bricks used in the project are mostly palomino red clay that are colored light and dark.

But in the front of the school, some "chocolate" bricks were used for accent.

Gang of Pirates

New Principal Jim Pauley and his staff have been preparing for a year for today's adventure of opening a new school.

When he first spoke to his teachers as a group a few weeks ago, Pauley said a few things that revealed his personality.

"I don't like meetings," the former Palmetto High School principal said. "This is probably the longest meeting we will have all year."

Pauley told them a few other things, like his preference for dropping into classrooms to peek in on what's going on.

Then, he gave a Gipper speech, Pirate style.

"We're untying the ship from the dock," he said, delighted in the way the Pirate mascot can fit into almost any motif. "We might hit a sandbar or two on our maiden voyage. But, ladies and gentlemen, there is also a lot of blue water out there."

By the numbers

1: Elevator at the football field press box

1.5: Miles to walk around building, football stadium and student parking areas

2.5: The length, in inches, of the longest shark's tooth found during site clearing

32: Security cameras on campus

47: Height, in feet, of the tallest building, the auditorium

800: Distance, in feet, of campus courtyard

240,000: Square feet of interior space

369,000: Estimated number of red clay bricks used for outside walls

As students return to class today, those at Braden River High School start fresh. But it took years of planning and determination to get here.

School starts earlier

Public school hours have changed this year: elementary school, 8:45 a.m. to 2:45 p.m.; middle school, 9:30 a.m. to 3:35 p.m.; and high school, 8 a.m. to 2:05 p.m.

Have questions?

Call the school's hotline at 708-4976, or go online at www.manatee.k12.fl.us.

"In my opinion, it's the most beautiful school we have ever built. The most striking thing about the facility is the beauty of the brickwork."

- Sheridan Dowling, head of construction services for Manatee County schools


--------------------------------------------------------------------------------
Richard Dymond, Herald reporter, can be reached at 708-7917

Valeo Clearance License 3.120.4786851-72327

Palmetto eager for growth

Sanctuary Cove's residential, shopping mix expected to raise city's image

By KATHLEEN CULLINAN

PALMETTO -- Once the butt of jokes, Palmetto could soon have another upscale waterfront development to bolster its self-esteem.

Sanctuary Cove calls for seven high-rises, more than 150 canal-lined homes and 200,000 square feet of commercial space along the Manatee River.

The development, which is working through the city's planning process, could take seven years to complete. It would join a host of other upscale projects along the river's shores.

Residents and city officials say Sanctuary Cove, like Riviera Dunes before it, is proof that the city is finally coming into its own.

"It means growth, a lot of growth. It means a lot of people. It means a lot to the business community," said Roger Talbot, who's owned the Palmetto Meat Shop for 25 years. "That's what's called progress."

Home shoppers at Sanctuary Cove could pick from 70 attached villas encircling the property, 165 single-family homes overlooking man-made canals in the middle, or 31 homes on one-third of an acre lots overlooking a mangrove preserve and the river.

Mayor Larry Bustle said Sanctuary Cove's mix of commercial and residential will be a convenience for those who live there.

"It puts people in the area where you need them," Bustle said. "It puts people on the streets so they can patronize the cafes and the gift stores."

The 210-acre property would stretch from U.S. 301 down to the river, with a strip of mangrove forest and a walking path buffering the homes against the water.

Canals would stripe through the currently empty field next to a factory on 301. Sanctuary Cove's mid-sized single-family homes would each overlook a street on one side and water on the other -- an innovative way of meeting water runoff requirements and sprucing the place up for residents, city officials said.

And residents of the 12-story high-rises would have good views of water on both sides.

Like Talbot, longtime resident and former City Council member Ron Witt said new projects like Sanctuary Cove are great for a city that's struggled with image problems in the past.

"We've seen our share of a lot of problems," Witt said, thinking back on rutted roads and businesses that repeatedly chose Bradenton over Palmetto.

"The business sector is taking off because it can support itself off the population there," he said. When buyers come to Palmetto for Sanctuary Cove, he said, retailers and other businesses follow close behind.

All of which spells change for Palmetto.

Talbot says the rush of progress is good, citing the old adage that what doesn't move forward ends up dead.

But when it comes to his own restaurant, Talbot said, "I'm not going to make any changes."

I-75 Has LWR Signage

Representative Ron Reagan (R-67th) has worked with the Florida Department of Transportation to secure signage for Lakewood Ranch on Interstate-75.

Two signs are now placed on the Southbound side before State Road 70 and on the Northbound side before University Parkway. Both say “Lakewood Ranch Next Two Exits.” There will also be an arrow at the University Parkway exit directing drivers to Lakewood Ranch.

“I’m pleased to have been able to advance this initiative,” states Reagan. “As Florida continues to enjoy record popularity as a tourist destination and desirable place to relocate, we need to direct motorists who are not familiar with our community safely to their destinations.”

Lakewood Ranch residents have frequently requested interstate signage. The master-planned community is now home to more than 10,000 people. Plus, there are more than 8,000 employees in Lakewood Ranch-based businesses. There are also thousands of people visiting the area to patronize the shops, hotels, restaurants and golf courses.

“This is an important step in further establishing our identity as a new community in the state,” notes Schroeder-Manatee Ranch, Inc. President and CEO Rex Jensen. “With the recent announcement of a US Post Office in the works, we are well on our way.”

New home sales soar to new record in June

New home sales climbed to an all-time record, surging 4 percent in June, according to information released last week by the U.S. Commerce Department.

Single-family home sales were 14 percent higher than those reported in June 2004, continuing the nation's hot real estate market.

East Manatee rural land to become retail

MATT GRISWOLD
Herald Staff Writer

EAST MANATEE - Developers plan to develop more East Manatee range land into expensive homes and turn a rural intersection a few miles away, where a roadside peanut vendor formerly held sway, into a substantial commercial center.

Mike Tringali and his development partners closed a $34.2 million sale deal Friday on the 1,144-acre Rusty Pot Ranch, on Clay Gulley Road in the Myakka City area.

The new owners are calling the project Steeple Chase. The residential community, off sparsely populated Clay Gulley Road, will feature about 210 equestrian-oriented, five-acre lots, somewhat like East Manatee's Panther Ridge, but pricier and more upscale.

Homes will start in the $750,000 range and soar well past the $1 million mark. The low-density development will sit just northeast of Myakka River State Park.

The land deal is part of Tringali's continued efforts to expand his development presence locally after relocating from Atlanta in 1998.

Tringali is also building Golden Verna Estates, comprised of about 80 homes and about 90,000 square feet of commercial near the Verna Bethany Road intersection with State Road 70, to include professional and medical office space, restaurants and retail as well as a gas station and convenience store.

That site previously was the place of business for a long-time roadside vendor selling boiled peanuts.

There has been some resistance from residents there about commercial development and higher-density residential development, Tringali said.

People need to get over the idea that Manatee and Sarasota counties shouldn't change, he said. Sitting in his office, Tringali points to a county map that shows that once University Parkway is extended to connect with S.R. 70 and Verna Bethany, his development will be in a prime position to serve the needs of many commuters passing through.

Larry Mau, the county's transportation director, said the extension will likely be funded and built in the next 10 to 20 years.

"I know people don't want to hear it, but there's nowhere to build west. People are coming. We can't stop them," Tringali said.

Susan Estler, who has lived off Verna Bethany for 13 years, prefers her quiet, rural setting, but said she and her neighbors understand that there's not much anyone can do about the onslaught of new residents and new homes.

"I think everybody realizes that growth is inevitable and commercial development is inevitable," Estler said.

The No. 1 request from existing residents is that developers and county officials continue to set aside pockets of open, green space, she said.

"You have those people who want to not see any change whatsoever," Estler said. "I think that's human nature that you move somewhere for a reason, and like it.

"As long as open areas are still available, people understand that that's going to happen."

Tringali has a number of other projects in the works.

He owns 449 acres with an option for 40 more just south of Lakewood Ranch and just north of the Founder's Club in Sarasota. He's planning a 1,300-home development with about 200,000 square feet of commercial space near Lakewood Ranch's Sarasota Village project. Tringali expects the land to be developed in about two years and built out in five years.

In addition to Steeple Chase and Golden Verna Estates and Sarasota Lakes Village, Tringali is planning to develop and build St. Ives Northwest - a 29-acre, 29-home private, gated community in northwest Bradenton at 9400 9th Ave. N.W. All 29 homes will exceed the $1-million mark, he said.

Tringali is also building Portofino on the Bay - a 20-home community on Sarasota Bay featuring two- and three-story Mediterranean-style homes, some with boat slips.

Matt Griswold, Herald business reporter, can be reached at 708-7908, or at mgriswold@HeraldToday.com.


Valeo License Number: 3.120.4835320-105863

Plan targets river area

PALMETTO - Residents got their first glimpse at a consultant's plan to guide the redevelopment of about 230 acres of the city's downtown.

Highlights of the plan include updated land policies, improved road systems and the introduction of mixed-use developments.

The plan concentrates on the area between 10th Avenue West/Old Main Street and Estuary Park south of Seventh Street West. A diverse portion of Palmetto, the area includes parks, housing of various degrees, Palmetto Elementary School and Riverside Plaza.

With development cruising at a steady pace in Palmetto, city and downtown officials sought a consultant's hand to make sure existing residents have a say in what happens around them through 2025.

As city Commissioner Eric Ball put it, the goal is to make Palmetto's waterfront available to everyone.

Mayor Larry Bustle agreed. He lauded the plan and the turnout of more than 60 residents Tuesday night at City Hall, many of whom asked questions or provided input.

"I think we have the beginnings of a great plan," Bustle said. "We can't stop the bear (development) but we can hold him by the tail. I think this plan will help steer the bear the way we want to."

The consulting firm Wallace Roberts & Todd, commissioned by the Palmetto Community Redevelopment Agency to create the $145,570 master plan, intends to take the input gathered Tuesday and return in a few months with updates.

The master plan includes turning Old Main Street into a destination by encouraging mixed-use developments where retail or restaurants take up bottom floors and apartments occupy upper floors of facilities; building up the waterfront edge with activities; creating a pedestrian-friendly environment to get people walking to the river instead of driving; and strengthening the area's neighborhoods.

The plan needs help at the city level. For example, mixed-use developments would not be allowed on Old Main Street under current land codes. But from this master plan, the Palmetto CRA expects to propose land use changes to city commissioners sometime in the near future.

Other suggestions include more boat ramps, more parking and a direct street connection from Riviera Dunes to Riverside Plaza. But no high-rise buildings.
Dennis Bradford, one of the Dunes developers, said the best way to get affordable housing on the waterfront is with a tall building or two.
But John Fernsler, a principal with Wallace Roberts & Todd, said the community doesn't want it.

That's good news to many residents. "Quite frankly, the skyline is prettier without them," said Pam Cain, who owns a duplex in Jet Mobile Home Park. "That's what a lot of us in the park are concerned about."

The master plan suggests that future development may prompt homeowners in Jet Park to sell their property and that the city should strive to keep the area open for affordable housing, but the plan did not suggest that city or redevelopment district officials buy the park. Several concerned Jet Park residents asked the city if it planned to use eminent domain to grab up their land.

Both Ball and Scott Maloney, chairman of the redevelopment district, said there are no plans to buy Jet Park. Maloney said he doubts an eminent domain grab of Jet Park would stand up in court.

Fernsler said the preliminary master plan presented Tuesday "reflects what people told (consultants) they want the waterfront to look like. "It wants the best of the old and new," he said. "It maintains the character of the neighborhoods and enlivens the waterfront with new activities."

Tim W. McCann, Bradenton and Palmetto city government reporter, can be reached at 745-7080, ext. 2620, or at twmccann@heraldtoday.com.

Valeo Clearance License 3.120.4769417-115590

Siesta Point

Article published Jul 19, 2005 Sarasota Herald Tribune
Park sale to close
Benderson may be part of $350M Siesta Point project

By Kevin McQuaid

SARASOTA -- Cogan Development Co. and partners are expected this week to finalize the purchase of a mobile home park at U.S. 41 and Stickney Point Road, land that is expected to be the linchpin of a $350 million village of condominiums and retail space.

Cogan's planned Siesta Point project also may have a new partner in Benderson Development Co. Inc., the giant developer planning a spate of projects throughout Southwest Florida.

Cogan, the Maitland-based developer proposing as many as 500 residences within the 25-acre project, intends, together with Promenade Partners II L.L.C., to acquire the Pine Shores Trailer Park land for $17.5 million beginning Friday.

Benderson's involvement could be an even more significant development, however, solidifying Siesta Point as an upscale retail destination.

In addition to six condo towers rising 10 floors over parking, Cogan envisions Siesta Point with roughly 200,000 square feet of retail space.

"It's been critical from the beginning that we find a partner with the wherewithal financially as well as the expertise involved in integrating both residential and retail," said Christopher Cogan, Cogan Development's founder.

Although Cogan said a "substantial entity" has agreed to be a joint venture partner, he declined to confirm Benderson's involvement. Benderson officials did not return numerous telephone calls seeking comment.

Morgan Bentley, an attorney representing Pine Shores owners Tollyn and Robina Twitchell, said that while he has been contacted by Benderson representatives, he has yet to receive signed documents indicating their involvement.

"As far as I know, the contract (for Pine Shores) has yet to be assigned to anyone," Bentley said. "But we're looking forward to closing."

If Benderson does sign on, Siesta Point would mark the latest in a series of ambitious projects that the South Manatee County developer has planned in the region.

Siesta Point, for instance, is slated to become the first major redevelopment to seek county "mixed-use, urban infill" zoning.

The project would also be among the largest pedestrian-oriented villages yet developed outside downtown Sarasota.

It might also become a model for the county's Sarasota 2050 concept, a development program that encourages village construction in rural areas.

Benderson is also working to develop a 1,660-acre, mixed-use project in North Port, and 390,000 square feet of retail space, a pair of hotels and office space in Ellenton.

Its most ambitious local project, however, is a planned 1.7 million-square-foot retail town center at Interstate 75 and University Parkway, near Lakewood Ranch. There, Benderson hopes to construct at least two department stores.

In all, Benderson owns and manages more than 250 properties in 35 states, containing more than 24 million square feet of leasable space, the company's Web site says.

In April 2004, Benderson sold more than 100 retail properties in a transaction valued at roughly $2 billion.

The sale halved Benderson's portfolio but left the company well-capitalized.

Although no tenants have been identified for Siesta Point, Cogan has said he'd like to attract a gourmet grocery store and retailers such as Crate & Barrel.

The sale will displace numerous longtime, mostly elderly, residents of Pine Shores. Under Florida law, the 102 residents will be eligible for $1,375 to $2,700 from the state because of the displacement.

In addition to Pine Shores, Siesta Point will comprise the former South Key Shell Station, at 6494 S. Tamiami Trail, and a building housing A&A Baby and Toddler Rentals, also on U.S. 41.

Promenade Partners, a collaboration between Cogan and financiers Neil Malamud and Ron Shenkin, hopes to begin construction a year from now.

"We realize there's an onus of responsibility on our part to make this a meaningful development," Cogan said. "This will be a gateway to Sarasota County and Siesta Key, so it warrants that it be done properly."

Sarasota - "Downtown After 5"

Downtown Sarasota is where to be tonight. This popular monthly outdoor festival will be featuring live music from Yovany & Latin Passion. Free. Tonight, July 8 - 6:00 to 9:00 pm, in downtown Sarasota on Lemon Avenue between Main Street and 2nd Avenue.

Manatee property values go up, up, up

NICK MASON
Herald Staff Writer

MANATEE - Property values in Manatee County jumped again last year, posting the largest increases in more than a decade and providing new evidence of robust growth.

The total value of property climbed more than 18 percent to $33.58 billion, and the taxable value rose nearly 17 percent to $24.71 billion, according to the preliminary tax roll certified by Manatee County Property Appraiser Charlie Hackney.

The tax roll shows property values as of Jan. 1 and reflects changes of value during the prior year. The 2005 roll numbers are the largest set of property value increases in one year since Hackney was elected property appraiser in 1992.

"The numbers just keep going up year after year," Hackney said Tuesday. "The numbers seem very high, but then you compare us to the east coast of Florida and places like Naples, and we are just now getting in line with a lot of other places."

Most of the increase in total value came from rising values of existing homes and other properties, but more than $1.1 billion came from new construction last year.

More than 90 percent of the value of new construction during 2004 was for structures built in unincorporated areas of the county, according to the preliminary tax roll. Less than 10 percent was in the six local municipalities.

Almost lost in Hackney's flurry of figures is the 36 percent increase in the value of tax-exempt homestead property under the Save Our Homes constitutional amendment Florida voters passed in 1992.

More than $4.4 billion of homestead property value in Manatee County now escapes tax because of the annual cap on assessments dictated by the constitutional amendment. That figure is up from $3.24 billion of exempt homestead property value a year ago.

Voters approved the amendment based on advertising campaigns that an assessment cap would save senior citizens and others living on fixed incomes from being taxed out of their homes. But the largest benefits of the tax break have gone to owners of waterfront and other expensive homes, which prompted Hackney to dub the amendment "Save Our Mansions."

Hackney said 90 homeowners in Manatee County each now avoid paying property tax on more than $1 million of their home's value because of the annual assessment cap, which is 3 percent this year.

"As you can see, the little old ladies are benefiting from this," Hackney said sarcastically.

Property values are a major piece of the budget-and-tax jigsaw puzzle that the Manatee County School Board, Manatee County Commission, local cities and other taxing agencies will put together in coming months.

The large boost in taxable value means Manatee County government would collect more than $20 million of additional property tax if there is no change in property tax rates this year, said Jim Seuffert, the county's financial management director. The current county budget includes more than $168.5 million of property taxes.

Additional income from property taxes would help cover the rising costs of building a judicial center, dredging Wares Creek and other public services needed by a growing population, he said.

"It's not just the growth," Seuffert said. "It costs more to do some very basic things."

Hackney plans to mail a Truth-in-Millage notice to each property owner in mid-August. The notice shows the property assessment and explains how the property owner may challenge Hackney's assessment to the county's Value Adjustment Board.

Once assessment challenges are decided, Hackney issues a final tax roll in the fall so tax bills may be prepared and mailed to property owners in late October or early November.



3.120.4654392-128133

A "Taste of Sarasota"

The Taste of Sarasota 2005 is once again being co-hosted by the Sarasota Association of Realtors® and the Florida Restaurant Association. The Chef's Competition is scheduled for Monday, October 10. The downtown event will be held on Sunday, October 23.
Tickets will go on sale August 1 at the Sarasota Association of Realtors® office, RE/MAX Gulfstream office on University Parkway, and at All Faiths Food Bank at 717 Cattlemen Road in Sarasota. Tickets are $50 each; $75 for two.
The Hyatt will once again host the Chef's Competition the evening of Monday, October 10, beginning at 7 p.m.
Proceeds from the Taste will benefit 40 Carrots, All Faiths Food Bank, and the Realtor Affordable Housing Fund. Last year, $21,000 was raised to benefit the Realtor Affordable Housing Fund.
Sponsors are needed for this event! If you or your company would like more information on sponsorship opportunities, please contact any of the following Program Committee members: Susan Brooks (Chair) 360-7777; Kris Niehaus (co-chair) 349-4478; D. Mark Holley 752-9210; Debbie Lane 349-4478; Ruth Gonzalez 921-4226; Robin Gruters 320-1071; Kathryn Durno 363-5015.

Sarasota - Florida's fastest growing metropolitan area

Robust growth in Florida continues. Despite moderating in early 2005, Florida remains among the nation’s fastest growing states as population growth, tourism, and real estate-related industries propel the economy forward. In first quarter 2005, year-ago job growth in the state stood at 3.4 percent, twice the corresponding gain nationally (See Chart 1). The state’s labor markets have continued to tighten, and jobless rates are well below the national average.

Sarasota was the state’s fastest growing metropolitan area in first quarter 2005, with employment up 5.3 percent from a year earlier.

Creekside townhomes set for East Manatee

EAST MANATEE - The sizzling Manatee County real estate market is rife with new construction, and another new builder is getting into the act.

California-based KB Home has built homes and townhomes in Florida, and a new 107-acre development in East Manatee is taking the builder where it has never been before.

KB Home is laying the groundwork for Willowbrook Townhomes off Town Center Parkway not far from Colonial Village, the apartments-turned-condo that garnered attention last week as people camped out for a chance to purchase them.

The popularity and pricing of the condo conversion will most likely have bearing on the pricing of the nearby townhomes, said Dale Friedley of the Manatee County Property Appraiser's Office.

The neighborhood is near Lakewood Ranch, but ultimately not part of the master planned community. The proximity to the desired address may also drive up the cost of the townhomes.

"The appreciations are so out of touch with reality," Friedley said.

Pricing for Willowbrook is not being released by KB Home until the project is further along.

The community will feature approximately 270 townhomes, said George Orsua, a company representative.

"It will be strictly townhomes," Orsua added.

The decision to keep the development townhomes may be more of a practical issue than one of style. Cooper Creek runs along the property, and Friedley said the project is inevitably going to be in the flood plain.

According to the Manatee County Property Appraisers' records, KB Home purchased the land in late January for almost $3 million above the appraised value.

The Los Angeles-based company builds in 14 states. Developments similar to the proposed Willowbrook project can be found in Tampa and surrounding areas.

Though the land is just beginning to be turned, a sign touts Willowbrook's townhomes will begin at 1,154 square feet.

Orsua expects the sales office to open in September, with a model opening scheduled for late November or early December.

Melissa Followell, Herald reporter, can be reached at 708-7920 or mfollowell@HeraldToday.com.

www.sarasotagroup.com

3.120.4655012-83844

Dockominiums/ rackominiums on Whitaker Bayou

Sarasota Harbour Yacht Club is selling “dockominiums” and “rackominiums” – wet and dry boat storage spaces that you own, rather than lease. The Yacht Club will be a high-end, five-star facility, modeled after the Sanibel Harbour Yacht Club, also developed by Knight and currently under construction. The Sarasota Harbour Yacht Club will be built in 2006 on Whitaker Bayou, which will undergo a major dredging in the next year. The sales office will be hosting sales parties this weekend

Lakewood Ranch Condos Go Fast

They wanted so badly to buy in Lakewood Ranch, they camped out to do it
RICHARD DYMOND
Herald Staff Writer

THE LONG WAIT

LAKEWOOD RANCH - Alan Danziger showed up a day before the doors opened and was still 11th in line to buy a condo at The Village at Town Park near Lakewood Ranch.

The first person in line, Bill Morris, actually arrived on Wednesday and was looking a little sleepy by Friday afternoon.

What was drawing these modern day "Sooners" was the chance to buy a one, two or three-bedroom condo, which was previously a rental apartment built in 2000 and 2001, in Colonial Village at Town Park.

The condos were rumored to sell from $150,000 to $260,000, but Danziger, Morris, and about 50 others camped out to get them didn't know the exact prices until 6 p.m. Friday when the doors opened at the condo office for a sale preview.

The actual prices announced by O'Dell late Friday ranged from $159,900 to $266,400.

"It's craziness, insanity and greed," said Danziger, when asked why he stayed overnight to buy a condo.

"I'm doing this for an investment," Danziger added. "There isn't any other rental property in Lakewood Ranch going condo. There are only about two apartment complexes on the east side of Interstate 75."

Most of the campers slept in their cars Thursday night in the condo parking lot and set up lawn chairs and umbrellas Friday morning, ordering out for food and having friends and relatives occupy their places in line so they could shower.

Danziger, who works for Verizon and already lives in Lakewood Ranch, stayed overnight Thursday, watching the movie, "Star Trek IV: The Return Home" on his van's DVD player.

When the doors finally opened, the campers rushed in to leave $5,000 deposits on the units they wanted and make a reservation to come back at 10 a.m. Saturday, when the units would actually go on sale.

"It's extremely hectic," Julie O'Dell, marketing director of the Miami-based Paramount Companies of Florida, said by phone at 6:09 p.m.

Since apartment renters have first right to buy the units, it is unclear how many units might be available, O'Dell said.

The 19-building condo complex is located off Town Center Parkway, adjacent to Lakewood Ranch.

Paramount also sent invitations to customers from their residential projects in South Florida. This is their first Manatee County project.

"It's definitely a buy," said Elliot Wachman, who drove up from Davie after getting an invitation by mail and, like the other campers, spent some time wandering through condo models.

"Broward County, where I live, is done. There is nothing left to buy. This place reminds me of Arvida's Westin property in Broward. It's a great location."

Monica Waterman, from Venice, arrived late - she pulled in Friday afternoon and got No. 41.

"I'm not a camping kind of girl," Waterman said.

Waterman was positive it would be worth her while to buy one of the units, which range from 898-square-feet for a one-bedroom to roughly 1,500-square-feet for a three-bedroom.

"There is no question this is a great investment," Waterman said. "The location is incomparable. It will continue to grow in value."

The campers are grabbing the units because there just isn't anything available in Lakewood Ranch at reduced prices, O'Dell said.

"Everything seems to start at $300,000 in Manatee County," O'Dell said. "We see it as affordable housing in the right neighborhood."

Richard Dymond, Herald reporter, can be reached at 708-7917 or rdymond@HeraldToday.com.

How much?

One-bedroom, one-bath: $159,900 to $172,000, depending on views, locations (first or second floor) a garage or upgrades

Two-bedroom, two-bath: $199,900 to $244,900 - with increases also due to upgrades and views

Three-bedroom, two bath: $231,900 to $266,400

Valeo Clearance License 3.120.4711641-75396

Local prices top state and national numbers

Local prices top state and national numbers
Another record broken for median home prices in Bradenton and Sarasota: $316,600
MELISSA FOLLOWELL
Herald Staff Writer

MANATEE - Home prices rose as quickly as the temperature in Bradenton and Sarasota during May when both grew even hotter.

Median existing home prices in the Bradenton-Sarasota market soared to $316,600, almost $86,000 above the state's median prices.

But Sarasota - Bradenton still is well below markets such as Naples. The highest median sales price was Naples at $488,900, a 31 percent increase.

Nationwide, the median cost was $207,000, up 12.5 percent from May 2004. It is only the second time median prices exceeded $200,000. April was the first, according to the National Association of Realtors.

Though local prices climbed, the number of sales was down 9 percent from the previous year, with local observers citing a shortage of inventory.

"More dollars are chasing fewer houses," said Patrick McGuire, sales manager of Buccaneer Realty in Bradenton.

He said he's seen eager buyers offer sellers more than the asking price to seal the deal. In many cases, those willing to go above the list price have lost out on two or three homes already and are not willing to risk it again, McGuire said.

"Our prices are going to continue to grow until our supply catches up with our demand," McGuire said.

Horizon Realty agent Cindy Morton lives and works in Lakewood Ranch and has seen how quickly property in the master-planned community disappear.

"Supply here has dwindled to nothing, and people still want to live here," Morton said.

The area's design is keeping demand high, and the high demand is garnering attention - in some cases even sparking further demand.

"It's kind of like going to a restaurant where there are always lines of people. Nothing draws a crowd like a crowd," McGuire said.

He said he anticipates two to three more decades of growth before supply and demand begin to even out.

As prices grow throughout the nation and make it more difficult for workers to own their own home, lenders are exploring ways to make ownership possible for those whose incomes aren't keeping up with the growing cost of real estate.

The Miami Herald reported this month that Fannie Mae will buy 40-year mortgages from lenders, something it didn't do previously.

Though interest rates on such loans are higher than the 30-year counterparts, the loans may attract buyers who are on the edge of qualifying, the article said.

Even that may be of little help to buyers priced out of the local market and employers may have to work harder to attract quality workers, McGuire said.

"Employers will have to pay more money to have people live and work here, similar to the job markets in San Francisco and L.A.," McGuire said.

Re/Max real estate agent Peggy Bunn experienced sticker shock when she visited her daughter in San Francisco. Now the 30-year Manatee County resident sees a picture not so different locally.

"I know how it was in California and I know that's where it's headed," Bunn said. "You pick up anything that lists the greatest places to live and Bradenton is on there."

Valeo Clearance License 3.120.4667880-118148

No reason for housing bubble burst

WASHINGTON - People may be talking about whether there's a housing bubble ready to burst, but Harvard University economists see little reason for homeowner gloom: U.S. home prices have been climbing for 13 years, with the rise in 2004 the largest annual jump since 1979, according to a new report from the university's Joint Center for Housing Studies.

Federal Reserve Chairman Alan Greenspan last week warned that home prices in some areas are "unsustainable." In a report to be released today, however, the Harvard economists say the market continues to be fueled by easy credit, low interest rates, affluent baby boomers buying second homes and the continued growth of immigration. Moreover, thanks to an expanding economy, regulatory constraints and a limited supply of land for development, they see no sign of a slowdown.

"The muscularity and potency of this market continues to amaze," said Nicolas P. Retsinas, the center's director and a former assistant secretary for housing at the Department of Housing and Urban Development.

Most housing indicators set records in 2004, the report noted, including homeownership rate, new home sales, existing home sales and single-family housing starts.

But some Americans have been left out of the party, according to the report. Renters face a diminishing supply of apartments because rental-housing construction fell to a 10-year low in 2004 and affordable units that are being demolished to make way for high-end condominiums are not being replaced, according to the report. Many renters can't afford the new units being constructed. About half of renters face "severe cost burdens," the report said.
KIRSTIN DOWNEY
The Washington Post

http://www.sarasotagroup.com/

Sales in Sarasota to International Buyers on rise

Manatee real estate market attractive to buyers overseas: "Better than the British stock market"
MELISSA FOLLOWELL
Herald Staff Writer

MANATEE - When David Ford took early retirement from his job in England, he envisioned spending six months in Florida playing golf and six months in England.

"I fell in love with Florida," Ford said.

Now, the owner/broker of Sunset International Realty and Property Management in East Manatee, Ford helps international and local buyers find their own piece of Florida.

International buyers, led by those from Great Britain, are searching for permanent residences, second homes, rentals or straight out investments.

"It's better than the British stock market," Ford said.

Though many like to spend vacations on or near Florida's beaches and sunshine, Coldwell Banker sales associate Barbara Ackerman has dealt with many buyers recently who are interested simply in investment.

"Most of international buyers I've dealt with are using the purchases as a vehicle of investing with the idea that they'll spend little to no time here," Ackerman said.

It's not uncommon for Ford, Ackerman and other Realtors to never meet their buyers face to face.

"They buy really freely and they will buy virtually sight unseen," said Mike Migone of Wedebrock Realty.

The international market hasn't been completely smooth during the past five years. In October 2001, the Patriot Act was passed, making it harder for international buyers to purchase property.

"The Patriot Act soured people on it," said Michael Saunders Realtor Michael Moulton. "Several clients sold their properties because they don't want to own here anymore."

An initial panic following the Patriot Act had buyers around the world thinking the United States was going to place a limit of 30 days on visa waivers instead of the 90-day system currently in place.

"Why would you buy a home if you could only use it for 30 days instead of 90 or longer?" Ford said. "Fort Myers took the brunt of the panic selling in 2001."

The international buyers started to slowly creep back into the market, until last year when the number of international sales shot up. Two percent of 2004's recorded property sales in Manatee County were to foreign owners, with United Kingdom buyers surpassing Canadians as the most prevalent buyers.

Luxury Real Estate owner Mark P. Riley said international sales have picked up tremendously in the past six to 12 months.

"You can't make this kind of return in England," Riley said.

Moulton hasn't seen the same resurgence. Working on Longboat Key and dealing primarily with properties that top the million-dollar mark, he said the international buyers aren't looking to spend the way they have in the past.

"High-end foreign investment is drying up," Moulton said.

He said people in the European market are looking closer to home for real estate comparable to what Florida can offer. Places like Spain, with its beaches and warm weather, requires a shorter trip and they can travel more freely.

While weather is often a big draw for international clients, Rose Bay Real Estate agent Donna Bucher has recently sold homes to several families relocating so their children can attend Nick Bollettieri's IMG Tennis Academy.

"I recently sold to families from Thailand, India, Belgium and England," Bucher said.

Ten-year-old Oscar Bailey's love for tennis and desire to attend IMG might have led the English family to Bradenton, but Kim Bailey said they feel completely at home.

"We fell in love with Manatee County," Bailey said.

She and Oscar live here full time. While visa issues have so far prevented her husband Luke from being able to call the United States home, he visits quite often.

The Baileys moved to the area in August 2004 and four hurricanes soon followed, but the family never considered leaving.

"We didn't think much of the hurricanes because we're from England and it's always blustery and windy there," Bailey said.

For son Oscar, life on the hot tennis courts of IMG was different than the indoor courts of England. The stifling summer heat took some getting used to, but now, weather and all, Oscar loves Florida as much as his mother.

"He's already speaking with an American accent," Bailey said.

Exchange rates are favorable for European buyers with the Euro valued higher than the American dollar. For those English buyers, the constantly appreciating real estate market in their country makes United States real estate more appealing.

"It's like buying property at half price for us," Bailey said.

In addition to their Cypress Creek home, the Baileys bought a condo as an investment. Finding renters for their Wildwood condominium is easy now that Bailey took a job as a property manager for Rose Bay Real Estate, the same company that helped her find her dream home.

Turning residential homes into rental properties, especially short-term rentals, irritates some year-round residents in different communities, but Ford said it is usually only a small group of people who complain and usually it is because of poor management of the property.

"Some property manager will leave trash cans to rolling around in the streets," Ford said.

In some areas, Ford has heard of attempts to change deed restrictions, but hasn't heard of any location where it has actually been successful.

Technology has brought about many changes in both buying property and finding vacation rentals.

"The Internet has created a lot of entrepreneurs," he said.

Barry Edgley and his family moved to Florida on Jan. 13, 2004. The booming real estate market didn't scare the Edgleys one bit, in fact it was kind of like home.

"Property in England has been silly really. At one point, home prices were going up 10,000 pounds a month," Edgley said.

Edgley found a similar market when he moved to Lakewood Ranch. After just 10 months, Edgley sold his home for a 43 percent profit before moving further east to Wauchula, where real estate prices are rising steadily but not at Lakewood Ranch's rate.

For less than what his house in Lakewood Ranch sold for, Edgley was able to buy a home situated on 13 acres in Wauchula.

"We're planning to do what we did in England, which is buy a house and completely refurbish it," Edgley said.

He also wants to carve a five-acre parcel out of the property and build another home there as an investment.

In England, Edgley said he quadrupled his money in three years with one particular property.

"The biggest problem in investing in places like Bradenton and Engla