Sarasota Pre-Construction - Florida Pre-Construction

I get calls and emails frequently about Sarasota and Bradenton pre-construction opportunities. Many people want to find a project where the developer will allow buyers to "flip" or "assign" their contracts. Very few developers are allowing assignment of contracts these days. In fact, I know of none. I have heard a few of the smaller projects might be allowing this.

I believe this to be a good thing. I don't think a project with a large number of speculators is good for the real estate market. I have read about pre-construction condos in Miami and Ft. Lauderdale with 80%-90% of the unit being sold to speculators. Projects like that are kind of scary. I would rather buy in a development where the majority of buyers are end users.

Downtown Sarasota Condos

Land sold for condos, shops
A $35 million complex will replace law offices in Sarasota's Burns Court

By KEVIN MCQUAID
kevin.mcquaid@heraldtribune.com

SARASOTA -- The Safety Harbor-based developer that revamped the Paradise Plaza shopping center has bought the longtime offices of Kirk Pinkerton PA and is planning a $35 million complex of residences and retail.

Paradise Communities' $4.8 million deal for the law firm's offices at 720 S. Orange Ave., in the Burns Court area, is the latest sign of growing interest in property outside Sarasota's downtown core.

There are more than 400 condominiums under construction or planned in the city's central business district, where condo development has exploded in the past two years.

Paradise Communities, which acquired the 1.25-acre, Burns Court property Monday, is planning 26 residences above 12,000 square feet of retail space.

"It's the best parcel in Burns Court," said Mike McCanless, a development partner in Paradise Communities, a subsidiary of Paradise Development Group Inc..

The property, which contains a two-story, 10,000- square-foot building completed in 1972 and a 3,000-square-foot house, is zoned "Downtown Edge" under the city's new downtown zoning code. Under that zoning, developers can build up to five stories.

See the rest of the article here:
http://www.sarasotaherald.com/apps/pbcs.dll/article?AID=/20050824/BUSINESS/508240333

Sarasota Home Prices

Home prices level off and volume is down, for now

By RICH SHOPES and MICHAEL POLLICK

The median price of existing homes in Sarasota-Bradenton eased off a June high of $336,800, potential evidence that the region's housing boom might have reached its zenith this summer.

But experts -- even some who have been bearish about Southwest Florida's housing market for months -- cautioned against reading too much into the June-to-July drop of $2,900.

After all, the $333,900 price could be just a blip.

The July price was still 32 percent higher than a year earlier. It is less than 1 percent below June's record price and comes during summertime, when the housing market traditionally slows.

Such monthly declines occurred in October and November 2004, right after the hurricane season took its toll and before prices rebounded sharply in December, noted Hank Fishkind, owner of Orlando-based Fishkind & Associates.

The Charlotte County-North Port market showed no similar drop: The median sales price was $236,600 in July, 9.3 percent more than the June price of $216,500. But Fishkind, considered one of the state's pre-eminent economists, does think "that the market has peaked from a volume perspective."The 1,012 home sales in Sarasota-Bradenton in July constituted a 28 percent drop compared with the same month last year, tied for the biggest drop in the state with Fort Lauderdale. It was part of a five-month trend of declining volume and ballooning prices.

Since April, the Sarasota-Bradenton market's median sales price has risen 10.6 percent.Volume in the Charlotte County-North Port market was 10 percent lower in July than the same month last year.

Statewide, there were 21,669 home sales, an 8 percent drop.

The sales decline was mirrored nationally.

The National Association of Realtors reported that July sales of existing homes -- including single-family houses, town homes and condominiums -- totaled 7.16 million at a seasonally-adjusted national rate.

See the rest of the article here:
http://www.sarasotaherald.com/apps/pbcs.dll/article?AID=/20050824/BUSINESS/508240525

Sarasota Real Estate Agent

Finding a new home should be fun and exciting. Work with a Sarasota real estate agent that is knowledgable about homes, condos, land and new construction in Sarasota, Siesta Key, Longboat Key, Lido Key, Bird Key and Casey Key.

Any Realtor can claim to be knowledgable. There are many people out there with a Florida real estate license.

Remember, buying a home will most likely the most expensive purchase you ever make. Do you want to put in the hands of a part time agent or someone who rarely sells any real estate?

When considering hiring a Sarasota real estate agent ask them:

Do you work at this full time?

Are you familiar with real estate in Sarasota, Lakewood ranch, Siesta Key, Longboat Key, Lido Key, Bird Key and Casey Key? Have you sold anything in these areas?

Do you know the new home and condo developments in Sarasota? Have you sold any?

I have sold over $10 million dollars so far this year with a mix of new condos and homes in Sarasota and Lakewood Ranch. I have also sold property on Casey Key, Lido Key, Siesta Key and Longboat Key this year.

Siesta Key Condos

Many yearn to wake up in the morning to the sounds of the ocean and a panoramic view of the gulf. Prices for Siesta Key condos start around $350,000 and go up. To see all condos on Siesta Key for sale go to: http://www.thesarasotamls.com/siesta-key-condos.php

Sarasota Luxury Homes

Please visit my website for a quick and easy way to search for Sarasota luxury homes. These homes are updated daily and make it easy to see what luxury real estate is for sale in Sarasota, Siesta Key, Lido Key, Bird Key, Longboat Key and Casey Key.

Golden Gate Point Condos

Atlanta developer pays $50M for Pier 550
By MICHAEL POLLICK
michael.pollick@heraldtribune.com

SARASOTA -- An Atlanta developer, Peachtree Group, has agreed to pay $50 million so that it can tear down a downtown waterfront condo complex and build 62 high-end units.

Confirmation of Peachtree's involvement came from Mark Kercher, a freelance real estate investor who put together the deal for Peachtree.

Various groups have been vying for the Pier 550 property since January."We had heard that several folks had tried to assemble the property and made various offers," Kercher said Friday. "The last offer we heard was $45 million, which is when we upped the ante."

Read the rest of the article here:
http://www.sarasotaherald.com/apps/pbcs.dll/article?AID=/20050806/BUSINESS/508060490