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.