Tuesday, October 10, 2006

Legends and Weather Patterns Explain Hurricane Behavior

Posted by Regina Brassil

There is an old legend in this region that says early Florida settlers used to come to what is now the Sarasota area during the "Big storms". They felt it was a safe haven from what we can assume were the hurricanes that visited annually.

Modern science and documentation seems to have proven their theory correct. In a recent study by the Sarasota Herald Tribune, "hot spots" were identified - those areas most likely to be hit by hurricanes. These areas included a 300 mile swath from Key West to St. Lucie County, centering in Miami; the North Carolina Coastline; and the Florida Panhandle west through to Louisiana.

In contradiction, Sarasota, Manatee and Charlotte Counties were listed as areas LEAST prone to being hit by a major hurricane. In fact, the last major hurricane to blow into Sarasota was in 1966, when Alma passed offshore.

The clustering of the storms in "hot spots" has to do with broad weather patterns and geography. One of the main factors is the summertime location of the Bermuda High, which tends to steer storms through well-travelled "alleys". The hot-spots are located at the end of these alleys. In 2004 , the high was centered closer to Bermuda than usual - resulting in Charley, Frances and Jeanne hitting southern Florida. In 2005, however, the high was centered relatively close to the Atlantic coast, creating almost a protective barrier around Florida for most of the hurricane season.

As scientists and meteorologists get more knoweldgeable about these weather patterns, everyone will ultimately be safer. Although no area can be considered completely "safe" from hurricanes, history and science seem to agree that the Sarasota area is far less prone to a major storm than other areas in Florida; lending even more credence to residents belief that we live in a golden city on the Gulf.

Monday, October 09, 2006

Come on In, the Market's Fine!

posted by Regina Brassil

Enough of the so-called "bad news" - here is the GOOD NEWS about Sarasota area real estate:

Inventory in Southwest Florida is at an all time historic high. Prices, therefore, have fallen, creating a classic Buyer's Market. By definition, a market that is favorable to the buyer.

While I would never recommend "buy and flip" type investing in these conditions, there are those who should absolutely consider buying. The classic rule of investing in anything is to "buy low, sell high".

* If someone is looking for a primary residence in which to live for many years, conditions are favorable.

* If someone wants to buy their dream retirement home in the near future, this is a great time.

* If an investor is looking to buy and hold long term, what better time than when prices are low?

What if the market goes lower? No one , of course has a crystal ball. But for the long term investor or buyer, history would dictate that eventually, the market WILL go up. We live in SW Florida. The baby boomers are getting ready to retire. People still want to live in the paradise that is Sarasota, and will come here.

Don't forget, when considering a purchase, all the factors are important - what if the market goes lower, but interest rates go up? You may ultimately pay more. Interest rates are currently at an 8 month low.

Buyer's Markets don't last forever. Just as many Sellers are regretting not selling when the market was hot...I fear many people looking to buy a home are going to regret not buying when they could have bought low.

For those in the market to buy in the near future, now may be a perfect time.
Consult a Sarasota Real Estate Agent and claim your piece of the Gulf Coast.

Saturday, April 22, 2006

Developers and Residents CAN Work Together

Sarasota's desirability makes it a magnet for developers. However, residents who are afraid of too much building, over-crowding and ruination of green spaces often create loud and powerful lobbies against the builders plans.

It is a battle played out every day, in every part of this region. In Sarasota's historic and charming Arlington Park, residents protested that developers Rand Hillview LLC should not be allowed to build their 65 foot tall condominium complex, Residences at Hyde Park, on a site across from the Sarasota Memorial Hospital - too big, too obtrusive onto the street, they argued. The trash dumpster area would be visible from the street; and city officials further required that a stately grand oak tree, rooted in the center of the 1.5 acre property, be preserved. Developers were sent away, back to the drawing board.

When they returned to re-pitch their project , they expected the stiff opposition to prevail once again. However, what happened instead is a lesson for all developers and associations in this growing area of the state - the residents applauded and approved the plan, which will now go before the Sarasota Planning Board in June. Why the dramatic turn-around? Residents say that they felt validated that the developers listened to their concerns, went back and seriously addressed the issues, and came up with workable solutions. These solutions included slanting the walls of the complex to create less austere presence on the street and relocating the areas for trash. The complex concept was also re-drawn by the project architect in order to save the old oak tree.

City officials are impressed by the developers willingness to create a project the community approves of, while the Arlington Park association was open minded in considering the re-design. We can only hope as Sarasota and the surrounding areas continue to grow and develop, that more such harmonious relationships can be struck, for the benefit of us all.

Buying "As-Is" Properties

In a market with a healthy inventory, there are many homes on the market being sold "as-is". Buyers often are averse to viewing or purchasing an "as-is" property, fearing something drastically wrong with the house that the Seller is trying to conceal. However, Buyers should not discount "as-is" homes for this reason - they are often great purchases with very minor work needed.

Traditionally, a home seller might be responsible for a certain percentage of the repairs needed to the home as determined by a licensed inspector. Sellers are more and more selling the home "as-is" to avert the possibility of unexpectedly paying for repairs out of pocket - but often will ask a lower price in return. Common misconceptions include the fear that the "as-is" home is a handyman special, in need of massive repair. This is rarely true - in reality, Sellers sell homes "as-is" for a variety of reasons, and may not be aware of any issue with the home.

Buyers are also protected in several ways. In Florida, Sellers fill out Sellers Property Disclosure forms which are readily available to prospective Buyers. In this form, the Seller is bound to disclose any material problem he knows about - prior roof leaks, proposed land use changes, or a broken security system, for instance. In a variety of categories that range from interior to exterior, heating/cooling, age of appliances, and neighborhood issues, Sellers relate their knowledge to prospects so that they might make an informed decision.

Buyers should always invoke their right to an inspection of any property they purchase. The inspection period is generally 10 days to 2 weeks, and gives Buyers the opportunity to conduct any inspections they wish, most commonly being a general home inspection and a pest control inspection.

As a Buyer's Agent, I recommend writing a contract "As-Is with Right To Inspect". When making an offer, Buyers can indicate a dollar figure they are willing to absorb in repairs - if a licensed inspector determines that the repairs needed exceed that amount, the Buyer has the right to cancel the contract and get his deposit back. This process allows the Seller to refrain from being responsible for any repairs, but also affords the Buyer protection that they are not locked into a contract if a serious issue is found.

It is important to note that a Seller is never responsible for aesthetic improvements - a new paint job, for instance. Conversely, a Buyer cannot use expected aesthetic costs as a basis for "needed repairs". But the Buyer will be protected from major issues with the home not readily noticeable to the untrained eye.

For more information on working with a Buyer's Agent who can walk you through an "as-is" purchase, visit www.TrueSarasota.com.

Wednesday, April 19, 2006

Hurricane Preparations Encouraging

As we near the summer months, thoughts naturally turn to preparing for another hurricane season. Experts are varied in their predictions of the likelihood of a major storm hitting the Sarasota region - but in the end, Nature herself will have the final word. Although the last two seasons have certainly been catastrophic in some areas, those communities better prepared for a major storm will certainly fare better. Living on the Florida Gulf Coast is a special lifestyle understood by our residents; and perhaps not by others nationwide who fear the storms. But while we cannot control Mother Nature, we are making great strides to better prepare for her inevitable arrival in the form of a major storm .

One of the factors that makes it a bit easier is that in large degree, we have ample warning that a storm is on its way. On a personal level, residents are well aware of their responsibility to stockpile water, non-perishable foods, batteries and the like. We know to watch carefully a storms path, gas up our cars and keep a spare gas can full as well. We have purchased hurricane film, shutters and millions of plywood barriers for our homes. But are our communities preparing at the same level of conscientiousness? In the Sarasota region the answer is a resounding yes.

Emergency management officials in the region report :

* New Red Cross offices have been set up to recruit volunteers and serve as additional backup sites

* New "hardened shelters (at least 18 feet above sea level) are being identified and readied, even in low lying counties

* Sarasota County has spent $2 million dollars equipping special-needs shelters, increasing capacity and hard wiring generators for oxygen for any patients who may need it.

* Pet-friendly shelters in the county have doubled

* A special team of 180 doctors, nurses and healthcare workers has been assembled for rapid responses in an emergency

* The Senior Friendship Center in Sarasota county is working with other faith based groups to assemble volunteers for debris clean up and water distribution after a storm

* The Sarasota K-9 Search and Rescue Team bought a new trailer not only for dispatch of supplies, but an air conditioned spot for the four-legged workers to rest.

Hurricanes can be scary, of course. But as we get better at predicting the paths, being pro-active, and responding to our neighbors, we lessen the impacts. Residents of South Florida understand that the benefits of living in such a paradise make this season a necessity to go through - but we are ready!

The Sarasota Boom By the Numbers

I was recently out with a prospective buyer who was very interested in a particular country club in the area. Brand new homes with high end upgrades, gorgeous amenities and a lush environment, this is a special oasis. He wondered, therefore - why was so much of the neighborhood for sale? Was there something wrong with the property he wasn't aware of?

The answer is fairly simple, and it lies in the numbers. In a study by the National Association of Realtors, much of the 2005 real estate boom was fueled not by "traditional" buyers, but by speculation and investment. Consider this fact - almost 40% of the homes and condos bought last year (nearly 3.35 million properties) were bought by people who had little to no intention of living in them full time. Approximately 2/3 of those were strictly investments while the remainder were presumed "vacation homes". In Florida statewide, traditionally 76% of all single family homeowners lived in the home they bought. In 2004-5, however, only 55% of buyers claimed that home as a residence, leaving nearly half as investments.

What does all this mean? Certainly, many people rightfully view this area as one that people will continue to flock to, making investments attractive. As long as the inventory is healthy, fueled by investors looking to cash in on their investment, a buyer looking for a residence or future retirement home is in a terrific position to find a great home in the Sarasota area.

Wednesday, April 05, 2006

Venice Catches Eye of Prospective Residents

Sarasota County is often associated only with Sarasota proper - Prospective homebuyers are often delighted to discover, just to our south, the charming (and growing) town of Venice.

Reaping all the benefits of being in Sarasota county - like fantastic schools and a short drive to all things "famous" about this area - Venice remains slightly detached with an energy all its own.

A few traditional reasons Venice is favorite - and a couple new ones - include:

* Homebuyers can still find a Florida boating and waterfront lifestyle for under $250,000

* Beachfront condos can run up to 30% less than in other areas

* Beaches are traditionally less crowded, and therefore more conducive to long walks, shelling, shark tooth hunts and sea turtle nesting. Venice Beaches, especially at the jetty parks, are often cited as "the" place to spot manatees and dolphins

* Venice has experienced a bit of a rebirth, with revitalization on the Community Center, the opening of a new modern movie theater, and the groundbreaking of a new YMCA complex

* Dog lovers will be thrilled at the "Paw Park", a pet friendly state park that encourages interaction with our favorite best friends ( an incredible 40 parks occupy the relatively little town of Venice, amazing in their diversity)

* Venice Main Street offers quaint "old time" events including Christmas walks complete with sidewalk carolers and hot chocolate. Year round, Main Street is reminiscent of the way things used to be, with unique "mom and pops" and ice cream parlors dotting the tree lined avenue.

All of this is within 20 miles of Sarasota's vibrant downtown, making Venice a terrfic place to consider for your family, your retirement, or your vacation.

Sarasota Arts & Events Make it Special

There are hundreds of miles of white sand beaches in Florida (although some would argue Siesta Key the best!) There are many places to watch for dolphins, enjoy the sun or play some golf. But there is only one Sarasota - truly unique in its character. Sarasota's unique blend of beach life and cultural richness make it the perfect place to consider calling home.

This is not a suprise to anyone living here, but important to those considering a move. Recently, Sarasota and Sarasota County was once again named Per Capita Arts Capital of Florida by Southern Living magazine. Long hailed as a cultural haven, Sarasota just keeps getting better - visitors and residents alike can enjoys literally hundreds of events at venues such as Sarasota symphony, Sarasota opera, Van Wezel Broadway Shows & concerts, 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 Theater, Sarasota Jazz Club, Burns Court, & Towles Court art communities.

There are gallery walks on Friday nights, popular outdoor art exhibits (don't miss the exhibit currently on display at Island Park "Embracing our Differences" ) and even an eclectic Farmers Market to stroll through on a beautiful sunny Saturday morning- enjoy some coffee, buy fresh produce and meet local artists. Whether the Selby Gardens Sunday Night Music series sounds like a great evening, or Shakespeare on the Bay is more your style, there is no excuse in Sarasota for not expanding your horizons and experiencing a truly special event.

Thursday, March 23, 2006

Buying or Selling? New Tool Helps Your Perspective

As REALTORS, we have seen (and understand) both sides of the equation.

Sellers of a property want the highest price they can possibly get - while Buyers want to pay as little as possible for the same property.

Because there are so many factors to consider, and each party brings some emotion to the table, Buyers and Sellers can have vastly different persepectives on the value of the same property.

Enter Zillow.com. Still in Beta stages, this new tool holds much promise for Buyers, Sellers and Realtors alike. Whether on the Selling side of the equation, or the Buying side, this tool can help bring some unbiased perspective to both parties in valuating a home based on the facts of recent sales data amongst similar properties, in similar neighborhoods. Zillow.com has many positive attributes - easy to use, easy to understand, and fast results - but perhaps the most innovative is that Buyers and Sellers can get this information anonomously, and without anyone calling them. This gives them powerful information in a comfortable atmosphere until they are ready to call in a professional. Whether looking to correctly price your home, understand its value for an equity line, or to compare to another neighborhood, Zillow.com can assist in setting a realistic valuation range.

Try Zillow.com on your own property - and let us know what you think. It is a new service and doesn't have a long history - but we are eager to have such a tool available to our customers. We will have links on each of our websites, beginning with www.TrueSarasota.com ; and are anxious to hear from you as to if this tool is helpful. As with prior posts, we maintain information is always critical in a major decision - Zillow.com may just be one of the most useful real estate innovations for consumers in a long time.

Sunday, March 19, 2006

When Relocating, Information is the Key

Relocation can be a daunting process. There are questions regarding jobs, schools, services, area attractions, proximity to transportation...the list goes on. Not the least of these worries, of course, is trying to decide where to live. It is nearly impossible to come into a new town and understand within a couple of days where your "dream home" may be.

True Real Estate is proud of our efforts to educate our customers as much as possible. We maintain 5 informative websites that are specific to distinct areas in the Sarasota/Bradenton areas. We have many loyal visitors to our sites as they can search the MLS not only for free, but without "registering" on the site. We don't ask you to sign a guestbook or register to search - we are confident that when you are ready, you will contact us. We understand that you may look for months, or longer, before being ready to have even a first conversation.

Those familiar with our websites may have noticed a few changes - we are working diligently to provide more information neighborhood by neighborhood; photographs, subdivision and condo information, local schools and nearby amenities. We invite you to browse any one of the 5 websites to learn about your area of interest.Don't forget while you are there, to read about the Rebate.

Please take a look through our websites - and contact us if there is an area you would like to see profiled, a neighborhood or subdivision you would like more information on - or even a photo you would like to share. Because we know - even when moving to paradise, INFORMATION is the Key.

www.truesarasota.com Greater Sarasota
www.truevenice.com Venice, Osprey, Nokomis, Englewood, Northport
www.truesiestakey.com The Keys - Siesta, Longboat, Lido, Bird, Casey
www.truebradenton.com Bradenton, Anna Maria, Parrish, Palmetto
www.truerealestate.net Search the Florida IDX, Agent Roster/Bios

Friday, March 17, 2006

Charity is Alive and Well

For those who may have read the article citing Sarasota as "the Meanest City", I respectfully differ with the findings. Sarasota residents are unfailingly generous and give to a myriad of causes in our area. Want to join in? This weekend, the Annual Walk to Cure Diabetes will take place at Siesta Beach. The event is expected to draw more than 2,000 participants from families, local businesses, schools and community organizations. The 5K walk will begin at 9am at the Siesta Key Picnic Area. Visit jdrf.org for more information or call 941-929-0621. For information on Sarasota Events, organizations or community information, please visit www.truesarasota.com .

Thursday, March 16, 2006

Hurricanes Little Issue for Florida Growth

Regardless of the devestating 2004 hurricane season, Florida continues to lead the nation with the highest number of fast-growing communities. Florida's population rose by more than 400,000 in 2005, with approximately 20,000 of that number settling in the Sarasota/Bradenton area. According to the census bureau, this area has experienced 12.4% growth since 2000. That is slightly higher than Florida's overall 11.3% rate. The hurricanes did seem to make a difference, however, in storm ravaged areas - Charlotte County, hardest hit by Hurricane Charley, only saw "growth" of 212 people - a virtual standstill. Residents and lawmakers expect that to change as rebuilding efforts continue.

Friday, March 10, 2006

Sarasota Readies our own Red Carpet

Although over 2500 miles away from Hollywood, Sarasota's annual film festival has its own allure for A-List stars. Set to open March 31st, this years festival features a lineup of nearly 200 features, short films and documentaries from 19 countries. Arriving in Sarasota to enjoy the festivities are Desperate Housewive's star Felicity Huffman and her movie star husband William H. Macy (Best Supporting actor for "Fargo" in 1996); former KISS frontman Gene Simmons, Chevy Chase and Allison Janney of The West Wing. The 8th annual festival is a 10 day celebration offering events ranging from glitzy black tie parties to childrens events. Single tickets start from as low as $8, allowingf everyone to join in the fun. Visit www.sarasotafilmfestival.com for more information.

Monday, March 06, 2006

Sarasota Opera Plans for Major Renovation

Sarasota has long been known as a cultural center and destination for those who love the arts. It was announced today that Sarasota's Opera house will undergo a $20 million renovation to allow the venue to produce such massive productions as Verdi's Aida. The project will enlarge the orchestra pit , lobbies and seating capacity; its goal is to preserve an historical old-time look and feel, while providing state of the art comfort and technical capabilties.

Thursday, March 02, 2006

Is Sarasota a Buyer's Market?

The Herald-Tribune proclaimed it loud and clear on March 1, 2006 - the 48% drop in home sales that the Sarasota/Bradenton market is experiencing tops the state of Florida. What does this mean for those who are looking to buy a home here? Contrary to what might be a gut reaction, Sarasota, and the SW Gulf Coast in general, is still a highly desirable location. Another recent headline stated " 85.8 million visited in 2005", speaking to Florida's constant draw, regardless of heat or hurricanes.

Yesterday (March 6th) the Herald Tribune printed an article about home prices slipping in the Sarasota/Bradenton area. It was bound to happen, with such a rapid rise over the last few years and a relatively lopsided inventory-to-buyer ratio right now. But is that bad news?

I don't hold that opinion. Of course, it is just an opinion and there are many out there. However, my experience is that there are still interested buyers, just not as many speculators and investors. Those buyers looking to relocate here are in the enviable position of having much to choose from, and the sellers overall seem willing to negotiate. Although the scales have tipped a bit too far, perhaps, over the next few months I am hoping we will see a return to a more equalized market - buyers having choice and buying power, and sellers getting fair prices for their homes. Sarasota remains a highly desirable place to retire, or to move a young family. Market adjustment, ebbs and flows, are a fact of any market - and those looking to move to Sarasota this year will find an much friendlier environment in which to search, negotiate, and purchase their home. In my humble opinion, the Buyers are now in a great market that will likely continue for some time. - Regina Brassil, REALTOR