Sarasota Real Estate Blog

Medical Care in Sarasota Florida

2012-01-24T18:12:00.003-05:00

Due to the aging populace in Sarasota Florida, they are equipped with a heavy number of medical locations for emergency and expert care. Whether the problem is minor or major, Sarasota is capable of providing top medical service and treatments. Sarasota Memorial hospital was honored recently with an award for their operational expertise and patient care accomplishments. Besides the residence in Sarasota, visitors are also welcome to receive Sarasota medical treatment. Not only is there a fantastic selection of service providers and medical professionals, but recuperating while being cared for by Sarasota doctors is a pleasurable experience. Here is a list of the well-known medical care facilities available in Sarasota:

Sarasota County Hospital This Sarasota run hospital has been recognized for its efforts in various areas. Sarasota Memorial Health Care System has over 800 beds, and the second biggest intensive care community hospital in Florida. It is a complete service facility with focused dedication in vascular, neuroscience services, heart, cancer, home health, and long-term care.

Doctors Hospital of Sarasota This Sarasota hospital has over 160 beds and is recognized as a general care service hospital servicing the Sarasota and Manatee regions. They encompass an emergency room that is accessible all year round, every day, all day. They supply medical and specialty services including outpatient facilities, diagnostics, and rehabilitation services.

Tampa General Hospital The Tampa General has over 800 beds and is identified as an acute care hospital. Tampa General serves as the district’s, including Sarasota, only facility for comprehensive burn care, adult organ transplants, and level one trauma. Patients needing care at Tampa General are airlifted from Sarasota to the Tampa General hospital.

University of South Florida College of Medicine TGH is known as one of the eight widespread stroke centers in Florida. It is also identified as a state qualified spinal cord and head injury rehabilitation facility.

James A. Haley Veterans’ Hospital The James A. Haley Veterans Hospital is the most active of four poly-trauma centers in the country. Services are accessible to over 100,000 veterans living in the four-country district of Florida including a comprehensive care VA medical facility in Sarasota.

Dattoli Cancer Center This center is focused on prostrate cancer and its prevention. The goal is to keep from having a detrimental effect on their patient’s lifestyle. They propose an option to prostrate surgery with an unequaled blend of pioneering diagnostic treatment technology.

Sarasota doctors are trained in other well-known fields such as chiropractic procedures, dentist, ophthalmologists, opticians, physical therapist, orthopedic surgeons, and cardiologist. Among other Sarasota medical care centers, there are special facilities for family care that includes: Pediatrics . Flu Shots . Preventive medicine . Heart problems . High cholesterol . Infections . Physicals dealing with school, sports, or work . Primary care therapy for any adult illnesses Acupuncture and Eastern Medicine along with aging and lifestyle specialist are also part of Sarasota medical care assistance. The Sarasota Medical Center also offers a inclusive weigh loss program. This is why so many residence in Sarasota feel that they have found the secret to feeling and looking good. It is a paradise for those who feel the need for relaxation, nice weather, and tranquility. In addition, there are also Sarasota doctors trained in Juvederm, Botox injections, and vein sclerotherapy.

Unusual Cold Weather Won't Last

2012-01-18T10:59:00.001-05:00

Sarasota, an amazing place in Florida is now in its season where many lives are being affected by the cold weather which is abnormally unusual. A mixture of sunny plus cloudy climate is creating a problem for the residents of Florida who are living in the Sarasota weather. The weather reports have been constantly indicating that the temperatures are expected to drop even further in the next few days from now and the Sarasota cold weather is going to create several problems if the residents are not prepared to face the low temperatures.

What are the general temperatures throughout the year in Sarasota?

If you carefully check records, you can observe that the Sarasota weather is not normally extreme in any case. It does not exceed 35 C and does not drop down beyond 10 C. It is cool and pleasant. But from the past few days, the Sarasota cold weather has been dropping considerably. If weather reports are seen, then the maximum average temperature around January- February is around 23 C and the minimum average temperature is 10-11 C. Rest of the year the temperature keeps fluctuating, tentatively rising upto 33 C and dropping to 10 C.

This is generally the climatic condition in Sarasota. But this time the Sarasota weather, especially the Sarasota cold weather is expected to be very chilly and freezing. Unexpected and infrequent rains are expected. The temperature, which is becoming lower than the normal temperature in addition to the strong winds, is causing problems for the residents who are living in this chilling Sarasota weather.

Siesta Key Florida

2012-01-16T23:12:00.003-05:00

Located on the central western coast of Florida, Siesta Key is a beautiful barrier island between Sarasota Bay and the Gulf of Mexico. It is eight miles long with two bridges connecting it to Sarasota. The gorgeous beach with its miles of fine white sand was voted the best in America last year.

This little island paradise has more than sunny beaches, however. Siesta Key has two shopping and restaurant areas. Stylish shops display fashions, beach accessories and souvenirs for all types of shoppers. Visitors and residents can relax in informal garb while dining in the many restaurants for breakfast, lunch or dinner. A selection of dining establishments offers everything from delis, cafes, tapas and oyster bars to fine dining on seafood, Japanese, Italian or French cuisine.

The district of Crescent Beach offers upscale boutiques, custom jewelry, a full service grocery store, drug store and post office. Siesta Village, which is north of Siesta Beach, is a pedestrian area where visitors and residents can relax in sidewalk cafes and enjoy its stores, shops and restaurants. There is a drug store and post office here also, and the Chamber of Commerce is in the village center.

The year-round balmy weather is ideal for all kinds of outdoor activities from just strolling along the beach to tennis, volleyball, bike riding, kayaking or even flying a kite. Sailing charters are available to tour the turquoise waters and view the dolphins, manatees and a great variety of sea birds. Fishing charters, jet skiing and parasailing are also popular on Siesta Key. Access to the beaches is numerous, with quaint names such as Turtle Beach and Point O’ Rocks. Siesta Key has beautiful woodlands, wetlands and exotic wildlife.

For lovers of golf, the area near the mainland coast has many top golfing destinations. There are public courses designed for all skill levels.

Siesta Key is conveniently located near the Sarasota-Bradenton International Airport. Other airports, Tampa International, St. Petersburg-Clearwater International or Southwest Florida International, are all within easy driving distance.
An Episcopal, Catholic and Presbyterian Church are located on Siesta Key and nearby Sarasota has many denominations of churches, synagogues and other spiritual centers. Siesta Key has a private preschool and elementary school. The Sarasota County School District serves the island community with an elementary, middle and high school, as well as magnet programs and a school for gifted children.

Siesta Key is only minutes from Sarasota, which is considered the cultural center of Florida, where there is an array of museums, art galleries and theaters, including ballets, orchestras and circuses. Also, four hospitals are nearby and Siesta Key is just six miles from Interstate Highway #75.

There is a great selection of accommodations in this vibrant community for both visitors and those looking for either a fulltime residence or a second home. Remember that Florida residents can be exempt from the first $25,000 of their home’s value for tax purposes, which reduces their property tax bill. Condos, single family homes, townhouses and villas, as well as land, are available for sale on Siesta Key.

Sarasota Living

2012-01-16T19:54:00.003-05:00

The Sarasota Florida life style is very dynamic. This city has everything under the Florida sun to offer that the state is most known for. From pristine beautiful white sandy beaches to rich Floridian culture, Sarasota intrinsically pulls off melding together both the bohemian lifestyle with sophistication and fun at the same time. The town was first founded in the 1880’s and has since adapted into a major metropolitan city bordering other growing cities such as Bradenton, Palmetto, Ellenton and Venice. Located in the middle of the western Florida coastline it is less than a day’s drive from any city in Florida, and only a couple hours at most from more well known larger cities – Tampa, Miami, and Orlando.

It is easy to see why this city is so well loved by both the tourists and proud locals. Like many places in Florida, there is great seafood and the many, many sunny days. Having a tropical climate, this area rarely freezes and never snows. The gulf beach breezes are only minutes away when a fun day of escaping the summer heat is in need. The Sarasota lifestyle is one of the most relaxing and beautiful places to live in the United States.
　
Sarasota is home to what is debated to be some of the world’s best beaches. Siesta key is loaded with a beautifully generous stretch of glistening blue ocean skylines, white powdery sands, gulf sunsets, and occasional dolphin sightings. People travel from all over the world to visit there. Lido is in close proximity, which is a quieter beach that is also popular as well; for some locals it is the preferred beach. It is next to St. Armand’s Circle that has many small upscale restaurants and shops. This is a wonderful place to spend the day. St. Armand’s Circle is loaded with infamous local artists and small family owned shops with excitement for all the senses; such as a small family owned fudge shop where you can watch the employees make homemade treats before your eyes, various small stores holding original artworks by local artists and small boutiques with one of a kind fashions.

Sarasota is also a great place for the family. The mote marine is a wonderful place for both kids and adults, where you can view dolphins, manatees, and pet the stingrays. The museum is a great place to learn about the Florida reefs and ecology. There is a nice gift shop at the end of the museum’s tour.
　
Sarasota is not just known by tourists for its shopping, weather and beaches, it is also a well known amongst artists. It is the home of the prestigious Ringling School of Art, named after John Ringling, an eccentric circus performer who first put Sarasota on the map.

John Ringling made an elaborate Italian villa for his wife Mable, and had his mansion and extensive art collection donated to the People of Florida which has become the official art museum of the state of Florida. The collection contains thousands of art collections from paintings to sculptures and hosts the medieval fair in October where people can watch reenactments by performers dressed in costumes from the Middle Ages.

The "New" 10 Commandments

2009-07-23T13:10:00.001-04:00

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

2009-07-11T10:42:00.003-04:00

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

2009-07-05T19:41:00.006-04:00

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

2009-06-29T22:00:00.003-04:00

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

2009-06-26T07:17:00.002-04:00

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

2009-06-23T17:13:00.005-04:00

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

2009-04-09T07:19:00.003-04:00

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

2007-12-05T13:26:00.000-05:00

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

2007-10-21T11:58:00.000-04:00

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

2007-10-06T09:49:00.000-04:00

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

2007-10-05T08:25:00.000-04:00

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

2007-09-27T15:50:00.000-04:00

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

2007-03-05T10:41:00.000-05:00

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

2007-02-13T13:35:00.000-05:00

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

2007-01-27T08:24:00.000-05:00

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

2007-01-13T07:37:00.000-05:00

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

2007-01-08T06:36:00.000-05:00

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

2006-11-18T11:25:00.000-05:00

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?

2006-11-17T10:12:00.000-05:00

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

2006-11-16T09:02:00.000-05:00

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

2006-11-16T07:04:00.000-05:00

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

2006-11-03T18:45:00.000-05:00

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

2006-10-30T16:34:00.000-05:00

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?

2006-10-29T11:43:00.000-05:00

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

2006-10-28T07:17:00.000-04:00

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

2006-10-27T22:43:00.000-04:00

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

2006-10-23T06:46:00.000-04:00

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

2006-10-19T08:50:00.000-04:00

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?

2006-10-17T07:35:00.000-04:00

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

2006-10-16T15:18:00.000-04:00

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

2006-10-13T08:31:00.000-04:00

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

2006-10-04T08:11:00.000-04:00

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

2006-10-02T09:18:00.000-04:00

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

2006-09-14T06:25:00.000-04:00

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

2006-08-19T12:48:00.000-04:00

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

2006-08-13T07:30:00.000-04:00

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

2006-08-11T16:41:00.000-04:00

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

2006-08-10T06:23:00.000-04:00

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

2006-08-09T15:11:00.000-04:00

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

2006-08-07T17:56:00.000-04:00

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

2006-08-02T19:11:00.000-04:00

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

2006-08-02T12:26:00.000-04:00

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

2006-07-23T08:56:00.000-04:00

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!

2006-07-18T18:43:00.000-04:00

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?

2006-06-25T06:39:00.000-04:00

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

2006-06-15T19:14:00.000-04:00

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

2006-06-13T11:45:00.000-04:00

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

2006-06-12T08:05:00.000-04:00

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

2006-06-11T15:51:00.000-04:00

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

2006-05-20T12:59:00.000-04:00

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

2006-05-18T13:17:00.000-04:00

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%

2006-05-16T08:02:00.000-04:00

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

2006-05-06T17:23:00.000-04:00

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

2006-05-05T05:42:00.000-04:00

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

2006-04-19T07:07:00.000-04:00

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

2006-03-29T05:35:00.000-05:00

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

2006-03-28T05:51:00.000-05:00

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

2006-03-25T07:44:00.000-05:00

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

2006-03-13T20:07:00.000-05:00

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

2006-03-12T06:48:00.000-05:00

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

2006-03-04T15:35:00.000-05:00

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

2006-02-28T08:00:00.000-05:00

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

2006-02-27T09:33:00.000-05:00

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

2006-02-15T14:23:00.000-05:00

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

2006-02-08T22:32:00.000-05:00

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

2006-02-08T08:10:00.000-05:00

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

2006-02-02T22:54:00.000-05:00

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!

2006-02-01T12:09:00.000-05:00

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

2006-01-31T01:30:00.000-05:00

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

2006-01-29T11:10:00.000-05:00

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

2006-01-28T21:16:00.000-05:00

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

2006-01-28T20:27:00.000-05:00

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

2006-01-21T09:08:00.000-05:00

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"

2006-01-21T07:17:00.001-05:00

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"

2006-01-21T07:17:00.000-05:00

More Good News for the Sarasota real estate market

2006-01-19T08:21:00.000-05:00

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

2006-01-14T14:12:00.000-05:00

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

Sarasota Clubs

2006-01-14T14:07:00.000-05:00

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

2006-01-13T22:38:00.000-05:00

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

2006-01-13T22:29:00.000-05:00

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

2006-01-11T08:56:00.000-05:00

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

2006-01-07T08:05:00.000-05:00

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

2006-01-03T18:21:00.000-05:00

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

2006-01-03T18:15:00.000-05:00

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

2005-12-30T13:56:00.000-05:00

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

2005-12-30T08:19:00.000-05:00

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

2005-12-28T08:19:00.000-05:00

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

2005-12-25T12:08:00.000-05:00

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

2005-12-25T11:56:00.000-05:00

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

2005-12-23T14:03:00.000-05:00

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

Siesta Key Enclave features Victorian designs

2005-12-18T07:15:00.000-05:00

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

2005-12-16T19:10:00.000-05:00

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

2005-12-13T16:28:00.000-05:00

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

2005-12-13T07:28:00.000-05:00

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

2005-12-12T15:04:00.000-05:00

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

2005-12-07T19:03:00.000-05:00

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