Home prices here is Sarasota and Bradenton have increased 9.5% from March to April of 2009, according to the Sarasota Association of Realtors and reported in an article in the Sarasota Herald Tribune this morning. See link below.
This is great news for the real estate market here in Sarastoa and Brandenton but also great news for the local economy as a whole. As a result the median sales price up $20,000 from the February low. Some want to be cautious saying that more foreclosures as adjustable-rate mortgages rest in higher payments at the same time more people are losing their jobs may could turn our recover around. But they aren't taking into account that fact that this is Sarasota. Most likely the most desired place to live in the country. People will buy up those foreclosures as they have already this year and the market will continue on this current course of recovery. You can take that to the bank.
Sarasota Herald Tribune
To learn more go to
Friday, May 29, 2009
Sarasota Housing Market is on the Rebound
According to the Herald Tribune today, May 26, 2009, the median sales price in the Sarasota-Bradenton market is showing life, as sales rose in March. Pricing is spurring bidding wars for some properties. Pending sales in some local markets are up double digits. The number of vacant housing units in the Sarasota-Bradenton market is down 30 percent in the last 12 months.
Sarasota-Bradenton builders started only 236 single-family housing units during the first quarter of 2009.
Florida Association of Realtors data from March showed the median sales price in Sarasota-Bradenton up $6,000 from the previous month to $150,000.
"Sarasota is a little more ahead of the curve in getting rid of the existing inventory," said Polito, director for the greater Tampa Bay area that includes Sarasota and Manatee counties. "We've seen prices correct a little more quickly than in other Florida markets and prices have stabilized in the last three months."
The affordability of homes and condos is the best it has been in years, while availability -- of credit, of being able to sell a home up north to buy a retirement abode here -- is at a decades-long low, Polito said.
"So affordability is the best it has been in a long time and inventory is down, too, so those are good trends," Polito said. "Venice, Sarasota and even up into Bradenton are all doing better.
Herald Tribune Article
To learn more go to
Sarasota-Bradenton builders started only 236 single-family housing units during the first quarter of 2009.
Florida Association of Realtors data from March showed the median sales price in Sarasota-Bradenton up $6,000 from the previous month to $150,000.
"Sarasota is a little more ahead of the curve in getting rid of the existing inventory," said Polito, director for the greater Tampa Bay area that includes Sarasota and Manatee counties. "We've seen prices correct a little more quickly than in other Florida markets and prices have stabilized in the last three months."
The affordability of homes and condos is the best it has been in years, while availability -- of credit, of being able to sell a home up north to buy a retirement abode here -- is at a decades-long low, Polito said.
"So affordability is the best it has been in a long time and inventory is down, too, so those are good trends," Polito said. "Venice, Sarasota and even up into Bradenton are all doing better.
Herald Tribune Article
To learn more go to
It is the time to buy the Sarasota Real Estate Market is Improving.
NBC Today Show
"For the first time in a long time, you can actually get both a short-and long-term gain
on a real estate investment. With prices down, interest rates at record lows, and so many would-be buyers deciding to rent instead,
it’s a great time to buy a real estate investment." -Barbara Corcoran
Source: NBC TODAYShow.com3/12/09
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CBS Early Show
CBS Early Showmoney maven Ray Martinweighed in on the Saturday Edition about whether buying is indeed the way go to now.
Question:IS THIS A GOOD TIME TO INVEST IN REAL ESTATE?
Answer: Yes, it is, and for a number of reasons. For one thing, housing prices are declining just about nationwide. Plus, mortgage rates are at a serious low. Rates on a 30-year, fixed-rate mortgage are at a level we won't see again in our lifetime. Finally, if you buy before December 1, you'll get an $8,000 tax credit if you're a first-time buyer. For all those reasons, there's really never been a better time to go shopping for real estate.
Source: CBS.com 3/14/09
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Kiplinger's Personal Finance
"It's a good time to snag a bargain if you're confident in your job prospects and you don't plan to sell for at least five years."
Source: Kiplinger's Personal Finance 3/09
To learn more go to
"For the first time in a long time, you can actually get both a short-and long-term gain
on a real estate investment. With prices down, interest rates at record lows, and so many would-be buyers deciding to rent instead,
it’s a great time to buy a real estate investment." -Barbara Corcoran
Source: NBC TODAYShow.com3/12/09
--------------------------------------------------------------------------------
CBS Early Show
CBS Early Showmoney maven Ray Martinweighed in on the Saturday Edition about whether buying is indeed the way go to now.
Question:IS THIS A GOOD TIME TO INVEST IN REAL ESTATE?
Answer: Yes, it is, and for a number of reasons. For one thing, housing prices are declining just about nationwide. Plus, mortgage rates are at a serious low. Rates on a 30-year, fixed-rate mortgage are at a level we won't see again in our lifetime. Finally, if you buy before December 1, you'll get an $8,000 tax credit if you're a first-time buyer. For all those reasons, there's really never been a better time to go shopping for real estate.
Source: CBS.com 3/14/09
--------------------------------------------------------------------------------
Kiplinger's Personal Finance
"It's a good time to snag a bargain if you're confident in your job prospects and you don't plan to sell for at least five years."
Source: Kiplinger's Personal Finance 3/09
To learn more go to
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