Sarasota Speaks

Wall Street Journal Ranks Stephen Pindel In Top 100.Coldwell Banker Residential Real Estate announced that Stephen Pindel, a Sales Associate in the company’s Fort Myers office ranks #81 among the nation’s top 100 agents and teams in closed sides and volume by the Wall Street Journal/REAL Trends Top 400 rankings for 2010. These rankings are based [...]

How well do you know your Realtor? The sale or purchase of a property will probably be one of your largest transactions. Isn't wise to know who is representing you in such a transaction?A few weeks ago I was showing property to some new clients.

Linda Gross Awarded The American Advertising Federation Silver Medal Award.Linda Gross, owner of Advice Inc., was awarded the coveted Silver Medal Award by the American Advertising Federation - Suncoast at their recent meeting. The award, presented by AAF-Suncoast president Alice Fernandez, is given to an outstanding member of the local advertising community.“It’s an honor to be [...]

We just sold this beautiful beach front condo in Sunset Beach Longboat Key yesterday. It closed for $659,000. Longboat Key CondosLooking for a "wow" water and beach view? This fabulous top floor unit offers spectacular  full gulf, sunset and beach views from every room.

Purchasing international real estate is becoming more alluring to investors & vacationers world wide.Pragmatcally speaking, it is a way to diversify an investment portfolio and/or to provide rental income.

We had company this past weekend from California that wanted to experience parasailing. I can now say that I have tried it and LOVED it! What a fun way to spend the afternoon. We called ahead and made a reservation with Siesta Key Parasailing (941-586-1972).

Glenda Philpot Receives SGMS Designation. NRT Southeast LLC, Coldwell Banker’s Parent Company, announced that Glenda Philpot, Regional Vice President of Relocation, recently earned the SGMS (Senior Global Mobility Specialist) designation from WERC (Worldwide Employee Relocation Council). According to Philpot, who is located in the region’s Sarasota headquarter office, “I would recommend this program to any relocation professional who [...]

Icard, Merrill, Et Al Awarded Outstanding Pro Bono Service Award.The law firm of Icard, Merrill, Cullis, Timm, Furen & Ginsburg, PA., was named the 2010 recipient of the Outstanding Pro bono Service by a law Firm in Sarasota County Award. This esteemed award was given in recognition for the organization’s outstanding dedication to pro bono efforts [...]

Cracker Barrel Breakfast Best In 2010 Zagat Consumer Survey.Head to one of the Cracker Barrel Old Country Store® locations in the Sarasota area for the best breakfast available at a full-service chain restaurant, according to the prestigious Zagat survey released recently. Over 6,500 regular chain restaurant diners shared their opinions on 39 full-service restaurants in the [...]

The Showcase of Homes //Deborah Beacham //612 S. Casey Key Road from Ryan Bodie Films on Vimeo.

The Showcase of Homes //Deborah Beacham //Villa Toscana from Ryan Bodie Films on Vimeo.

Pamper Lounge Added To Cutting Loose Salon.Since 2007 Cutting Loose Salon has catered to the area’s chic and sophisticated. Now the salon is reinventing itself to better serve guests while immersing them in luxury by offering new Pamper Lounge spa services.Private rooms in the back of Cutting Loose are now home to the Pamper Lounge. [...]

 I asked a client of mine to write about why he chose to purchase a downtown Sarasota condo. He was nice enough to write the following:Downtown Sarasota: Sophisticated, Urban and ManageableOn June 30 we closed on our new home in downtown Sarasota

Existing-home sales were sharply lower in July following expiration of the home buyer tax credit but home prices continued to gain, according to the National Association of EALTORS® www.realtor.org , which are completed transactions that include single-family,

Existing-home sales were sharply lower in July following expiration of the home buyer tax credit but home prices continued to gain, according to the National Association of EALTORS® www.realtor.org, which are completed transactions that include single-family, townhomes, condominiums, and co-ops, dropped 27.2 percent to a seasonally adjusted annual rate of 3.83 million units in July from a downwardly revised 5.26 million in June, and are 25.5 percent below the 5.14 million-unit level in July 2009. Sales are at the lowest level since the total existing-home sales series launched in 1999, and single family sales – accounting for the bulk of transactions – are at the lowest level since May of 1995.www.realtor.org/research/chief_economist Lawrence Yun,NAR chief economist, said a soft sales pace likely will continue for a few additional months. “Consumers rationally jumped into the market before the deadline for the home buyer tax credit expired. Since May, after the deadline, contract signings have been notably lower and a pause period for home sales is likely to last through September,” he said. “However, given the rock-bottom mortgage interest rates and historically high housing affordability conditions, the pace of a sales recovery could pick up quickly, provided the economy consistently adds jobs.“Even with sales pausing for a few months, annual sales are expected to reach 5 million in 2010 because of healthy activity in the first half of the year. To place in perspective, annual sales averaged 4.9 million in the past 20 years, and 4.4 million over the past 30 years,” Yun added.Mortgage Rates Dip According to Freddie Mac, the www.freddiemac.com/pmms national average commitment rate for a 30-year, conventional, fixed-rate mortgage fell to a record low 4.56 percent in July from 4.74 percent in June; the rate was 5.22 percent in July 2009. Last week, Freddie Mac reported the 30-year fixed was down to 4.42 percent.The national median existing-home price for all housing types was $182,600 in July, up 0.7 percent from a year ago. Distressed home sales are unchanged from June, accounting for 32 percent of transactions in July; they were 31 percent in July 2009.“Thanks to the home buyer tax credit, home values have been stable for the past 18 months despite heavy job losses,” Yun said. “Over the short term, high supply in relation to demand clearly favors buyers. However, given that home values are back in line relative to income, and from very low new-home construction, there is not likely to be any measurable change in home prices going forward.Inventory Rises Total housing inventory at the end of July increased 2.5 percent to 3.98 million existing homes available for sale, which represents a 12.5-month supply at the current sales pace, up from an 8.9-month supply in June. Raw unsold inventory is still 12.9 percent below the record of 4.58 million in July 2008.NAR President Vicki Cox Golder said there are great opportunities now for buyers who weren’t able to take advantage of the tax credit. “Mortgage interest rates are at record lows, home prices have firmed and there is good selection of property in most areas, so buyers with good jobs and favorable credit ratings find themselves in a fortunate position,” she said. A parallel NAR practitioner survey shows first-time buyers purchased 38 percent of homes in July, down from 43 percent in June. Investors accounted for 19 percent of sales in July, up from 13 percent in June; the balance were to repeat buyers. All-cash sales rose to 30 percent in July from 24 percent in June. Breakdown of the NumbersSingle-family home sales dropped 27.1 percent to a seasonally adjusted annual rate of 3.37 million in July from a pace of 4.62 million in June, and are 25.6 percent below the 4.53 million level in July 2009; they were the lowest since May 1995 when the sales rate was 3.34 million. The median existing single-family home price was $183,400 in July, which is 0.9 percent above a year ago.Single-family median existing-home prices were higher in 11 out of 19 metropolitan statistical areas reported in July in comparison with July 2009 (the price in one of 20 tracked markets was not available). However, existing single-family home sales fell in all 20 areas from a year ago.Existing condominium and co-op sales fell 28.1 percent to a seasonally adjusted annual rate of 460,000 in July from 640,000 in June, and are 24.0 percent below the 605,000-unit level in July 2009. The median existing condo price was $176,800 in July, down 1.7 percent from a year ago.Existing-home sales in the Northeast dropped 29.5 percent to an annual pace of 620,000 in July and are 30.3 percent lower than a year ago. The median price in the Northeast was $263,800, up 4.8 percent from July 2009.Existing-home sales in the Midwest fell 35.0 percent in July to a level of 800,000 and are 33.3 percent below July 2009. The median price in the Midwest was $151,600, down 2.8 percent from a year ago.In the South, existing-home sales dropped 22.6 percent to an annual pace of 1.54 million in July and are 19.8 percent below a year ago. The median price in the South was $156,300, down 3.3 percent from July 2009.Existing-home sales in the West fell 25.0 percent to an annual level of 870,000 in July and are 23.0 percent below a year ago. The median price in the West was $224,800, up 3.3 percent from July 2009. Source: NARFor information about the Sarasota Real Estate Market, visit PremiumPropertiesSarasotaFor information about the Sarasota Real Estate Market, visit PremiumPropertiesSarasota.com

C.J. Coury And HomeBanc To Sponsor “Appraisals 2010” Seminar Series. Realtors, homebuyers and homesellers who are losing real estate deals because of low-ball appraisals from out-of-town appraisal management companies will benefit from a series of appraisal seminars sponsored by HomeBanc. In September HomeBanc’s “Appraisals 2010” will educate participants on how to secure sound appraisals in the era [...]

Angela Massaro-Fain Appointed To Sarasota Chamber Small Business Chair And SCORE Advisory Board.Angela Massaro-Fain, Founder and President of Grapevine Communications, recently accepted volunteer leadership positions with the Small Business Council of The Greater Sarasota Chamber of Commerce and Manasota SCORE. Her term begins this fall and she will chair the Small Business Council (SBC) and become [...]

100 Of The World’s Best Beers Available For Tasting This Weekend.This Saturday, August 28th inside the air-conditioned (and dry!) Robarts Arena sample more than 100 of the world’s greatest IMPORT, CRAFT & SPECIALTY BEERS plus free food from great area restaurants and live music from Paper Airplanes.Saturday, August 28, 5:00PM - 9:00PMRobarts ArenaSarasota Fairgrounds3000 Ringling Blvd.One [...]

Yearning for a more metropolitan lifestyle without many of the hassles of a large city. Downtown Sarasota is a great place to live if you want to be within walking distance to the Sarasota bayfront, Marina Jacks, numerous restaurants, art galleries, cozy retail stores, Florida Studio Theatre, Van Wezel Performing Arts Center, Sarasota Opera and several other cultural venues

Another great condominium complex here in Lakewood Ranch is Lake Vista. It is one of the newest condo projects with walking or biking distance to shopping and eating at Lakewood Ranch Main street. Here are some quick facts: Gated Community...

 The Showcase of Homes //Deborah Beacham //Casa Almafi from Ryan Bodie Films on Vimeo.Casa Amalfi on Casey Key with Realtor Deborah BeachamCasa Amalfi, at 3206 Casey Key Road, is a unique waterfront property that is value priced in today’s market for a luxury home on the 8 mile island of Casey Key, located 15 miles [

New Century, the 3rd largest sub-prime lender in the US, is in a world of hurt. First, the rejected loan pass-throughs, then the federal investigation of fraud, and then the resulting dot-com-like crash of their stock price (see graphic). Now, with no one else's money to lend, they've finally come to the conclusion that they can no longer lend any money at all.

Hey, this housing implosion in Florida has created a new job opportunity - processing foreclosures. It's a dirty job, but some one's gotta do it. Maybe Mike Rowe could be called in to do an episode.

In my diatribe about the sub-prime industry (how it created the bubble and is now suffering for it's sins), Freddie Mac, a major purchaser of Mortgage Backed Securities on the secondary market, has seen the light and is now clamping down. Hard.

Before we move on to Freddy Mac and Fannie Mae's take on the toxic loan market, here now a local story on the effects of these "buy now, pay later" mortgags. From Rene Stutzman at the Orlando Sentinel.