Foreign Buyers Market Surges

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Sarasota seen from a different angle

http://www.heraldtribune.com/article/20110919/MULTIMEDIA/110919565/2416/NEWS?Title=Google-offers-up-a-sharper-view-of-Sarasota

Sarasota Real Estate News

Zillow and Forbes say home prices in five cities, including Sarasota and Punta Gorda, have begun appreciating.

STAFF REPORT



Published: Wednesday, August 31, 2011 at 12:37 p.m.

Last Modified: Wednesday, August 31, 2011 at 3:01 p.m.




To some, it might seem surprising that a business magazine catering to wealthy readers would name Sarasota-Bradenton and Punta Gorda on its list of "America's Recession-Resistant Cities For Real Estate."


Facts

PRICE INCREASES

Forbes/Zillow measure of home, condominium and apartment appreciation in Florida cities:

No. 2, Fort Myers

Median home price: $126,100

Second quarter increase: 3.8%

No. 6, Port St. Lucie

Median home price: $112,600

Second quarter increase: 2.5%

No. 7, Sarasota

Median home price: $143,000

Second quarter increase: 6.7%

No. 10, Destin

Median home price: $159,300

Second quarter increase: 5.6%

No. 24, Punta Gorda

Median home price: $116,600

Second quarter increase: 1.9%

Pensacola

Median home price: $121,000

Second quarter increase: 3.9%

Source: Forbes, Zillow.com



But Forbes' recognition this month for a region that has suffered mightily in the Great Recession is more a study of the present than the past.

To real estate professionals and other observers in Southwest Florida, there has been a clear stabilization in pricing for 2011. Admittedly, that has happened during a sizeable drop in the supply of distressed properties because of the robosigning crisis.

"These are not markets where the economy as a whole has necessarily improved," Michael Saunders, founder of the real estate brokerage of the same name, wrote on her blog this week. "Instead, they are places where -- in spite of high unemployment and other economic challenges -- real estate is showing marked signs of improvement after having spent the better part of the past five years correcting over-inflated prices born of the boom."

Teaming up with Zillow.com, the real estate analysis site, Forbes calculated median sales prices by quarter for homes, condominiums and apartments at all price points in more than 154 communities nationwide.

The resulting list had five Florida cities: Fort Myers at No. 2, Port St. Lucie at 6, Sarasota at 7, Destin at 10 and Punta Gorda at 18. That was more than any other state.

"The Florida metro areas have really paid their dues, coming off quite a lot since 2006 in terms of home values," Zillow economist Svenja Gudell told Forbes. "We are finally seeing those numbers start to stabilize."

In Fort Myers, for examples, Forbes said that prices have been steadily appreciating -- and at a faster rate in the most recent quarter -- since November. A similar phenomenon has occurred in the Sarasota-Bradenton and Charlotte County-North markets.

"We are starting to see some organic growth that can't be traced back to tax credits, whereas in 2010 we saw some home value appreciation simply because of them," Gudell said.

Topping the Forbes list was Bay City, Mich. Third behind Fort Myers was Pueblo, Colo.

States with cities represented also included California, Illinois, Massachusetts, Pennsylvania, North Carolina, Oregan, Oklahoma, South Carolina, Tennessee and Washington.

Washington D.C. was 24th on the list.

Siesta Key Parking

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Sarasota From the Air

Siesta Key Beach just named #1 Beach in the U.S.

Siesta Beach in Sarasota, Fla., is seen in this May 18, 2011, photo. (AP Photo)
(AP) SARASOTA, Fla. - After years as a head-turning bridesmaid in the best-beach rankings, Sarasota's Siesta Beach is finally the bride.


The wide slice of brilliant white sand and warm, emerald water on Florida's southwest Gulf coast was named the best beach in the United States Friday in an annual survey by Florida International University professor Steven Leatherman, who is also known by the friendly nickname "Dr. Beach."


Siesta Beach, 40 acres of almost pure quartz crystal sand on the Siesta Key barrier island, was runner-up in Leatherman's rankings the past two years and was third in 2008.


"The sand is like sugar," said Leatherman, director of FIU's Laboratory for Coastal Research. "Some people can't believe it. You have to bring sunglasses because it's so bright. It's super soft, super fine. They claim to have the finest, whitest sand in the world, and I can't argue with that."


Pictures: Best U.S. beaches 2011
Dr. Beach's Beachfinder
N.Y.'s Southampton Beach tops 2010's list


San Diego's Coronado Beach was runner-up. Rounding out the top 10 were:


No. 3, Kahanamoku Beach in Waikiki, Honolulu, Hawaii
No. 4, Main Beach, East Hampton, N.Y.
No. 5, Cape Hatteras in North Carolina
No. 6, St. George Island State Park, Florida Panhandle
No. 7, Beachwalker Park, Kiawah Island, S.C.
No. 8, Coast Guard Beach, Cape Cod, Mass.
No. 9, Waimanalo Bay Beach Park, Oahu, Hawaii
No. 10, Cape Florida State Park near Miami

Leatherman ranks beaches on 50 criteria, including the look and feel of the sand, water quality, weather, facilities and crowds. A top score is 250. Siesta Beach came in the 230s, losing minor points because the vista is heavy on condos to the north and south of the county park. Once a beach reaches the pinnacle of Leatherman's list, it is retired from consideration for future rankings.


A No. 1 spot on the popular list annual typically brings a 15-to-20-percent boost in visitors for the beach destinations.


Siesta Beach got big points for shallow water and gentle currents.


"Most days you measure waves over there in inches, not feet," Leatherman said.


Praise for Siesta Beach is no surprise to Leonard and Linda Rush, who vacationed at the beach annually for 20 years when both were teaching in Ohio, then retired and moved to within a half hour's drive of the place. They visit often now, enjoying the "powdered sugar" sand, calm waters, cleanliness and nearby bathrooms.


"It's pretty pristine," 64-year-old Leonard Rush said as he and his wife relaxed in folding chairs gazing out at the Gulf of Mexico one recent morning. "They keep it in pretty good shape. It's got the best sand of any beach."


"It's a really wide beach," said 20-year-old Britanica Graves, who lives in Sarasota and visits Siesta Beach often. "It can be crowded and not seem like it's crowded. It's just wide and long."


Parking at the public beach is free, but regulars say that by late morning it can be challenging to find a spot in the 800-space lot.


Leatherman touted Gulf Coast destinations Siesta Beach and St. George Island State Park despite last year's BP oil spill, which soiled parts of the western Florida Panhandle coastline. Siesta Beach and other strands on the state's west coast remained untouched by crude, but BP crews are still scouring places that were affected for scattered tar balls, even though the vast majority of damage has by now been cleaned up. St. George Island, in the eastern part of the Panhandle southwest of Tallahassee, didn't get any oil, but Leatherman knocked it off last year's list because it was in the "line of fire" before the gusher was capped.


"Even then, when the oil spill occurred, I said oil is not going to get to the Sarasota beaches (and) southwest Florida," Leatherman said. "A big loop current trapped the oil 100 miles offshore. And the oil just spun and spun in the Gulf. And, in fact, right now we can hardly find any of it, even in the areas which did have oil and tar on the beaches in the Panhandle."


Separate from the top 10 list, which is in its 21st year, Leatherman has a project called the National Healthy Beaches Campaign. Campaign member beaches pay $800 a year to be evaluated monthly on 60 self-reported criteria and receive advice on maintaining environmental quality through "proactive management," Leatherman said. He emphasized that beaches do not pay to be evaluated for the top 10 best beaches list, and that he visits top 10 candidates incognito to collect sand and water samples for study.


Leatherman insists that eliminating each year's national winner from consideration in future surveys hasn't diluted the quality of his annual rankings.


"The good thing about the United States is we have hundreds of beautiful beaches," he said. "I can die before I run out of beaches."



Read more: http://www.cbsnews.com/stories/2011/05/27/travel/main20066758.shtml#ixzz1O1cAs2ul

Sarasota Sales on the Rise

Real estate sales in the Sarasota market were up 24.2 percent in February from the previous month and the housing inventory dropped to a six-year low, according to the Sarasota Association of Realtors. There were 673 total sales in the area, up 27 percent from February 2010. That included 472 closings on single-family homes and 201 closings on condominium units. The median sales price dropped slightly in the past month, down to $137,500 for both homes and condos. Realtors hope a low inventory makes prices turn around. Inventory for homes dropped to 8 months worth, compared to 10.2 months worth in January, and inventory for condos dropped to 10.4 months, compared to 14.1 months in January