Development of residential properties in downtown Sarasota continues to heat up along with conscientious efforts to preserve the city’s historic legacy. This thrust to preserve the downtown’s cultural heritage manifested a new with the retention of the facade of the vintage DeMarcay Hotel and Roth Cigar Factory at 33 South Palm where construction of new additions to Sarasota downtown condos for sale started early in November 2014.

Sarasota remains as one of the favored destinations for those who seek to downsize their residences in order to slash housing costs in retirement. Prices of Sarasota condo units, villas and townhouses, the favored residential styles in home downsizing, still look quite attractive despite the recent price spikes in the home market. During the first nine months of 2014, the Sarasota median prices of condo units and similar housing types in the resale market have remained under the $205,000 high mark set in the county in July.

Add Country Club West and Country Club/ Edgewater Village as candidate choices if you’re searching for Sarasota homes for sale in gated communities which offer several advantages, such as less exposure of small children to vehicular traffic. At Edgewater Village, sales-listed homes are typically priced from the $300s to the $600s. Efforts are gaining ground for the privatization of the roads and gatehouses at the entrances of these Lakewood Ranch (LWR) neighborhoods.

Indications continue to mount that market activity in upscale Sarasota condos for sale will further intensify in coming months, with the recent upsurge not only in sales but also in new listings and new building projects. Between late September and early October of 2014, ownership of several luxury condos changed hands, with two recorded at Ritz-Carlton’s The Beach Residences on Lido Key. Both deals closed to the tune of nearly $3 million and involved units with floor spaces in the vicinity of 4,500 square feet.

The City of North Port scored a pair of water-resource related gains in September 2014, receiving a prestigious international award on water conservation and finally gaining full ownership of Warm Mineral Springs which led to its reopening that same month. North Port was cited at the Annual WateReuse Symposium, the world’s preeminent conference devoted to water reuse, for its rain barrel art contest promoting the city’s year-round water conservation and protection, education, and awareness program.

Excited about the growth potential of the housing market in Florida, the Oakville, Ontario-based Mattamy Homes is fast moving forward with The Enclave At Forest Lakes in Sarasota and has likewise started site development for Harmony at Lakewood Ranch. This Canadian company is among the biggest privately owned builders in North America and the largest homebuilder in Canada. Around mid-2014, it also paid $86 million for Thomas Ranch, a property comprised of more than 6,000 acres in North Port.

Count in Lakewood Ranch (LWR) among many things that get better with time. For seven weeks in October and November 2014, this master planned development showed how it has mellowed like vintage wine over the years, treating prospective buyers with even more scintillating choices of Sarasota homes for sale in its 17th annual fall Tour of Homes. The 2014 event is a showcase for more than 30 models by 12 builders, reaffirming LWR’s stature as one of the premier master-planned communities in the U.S.

Plans are moving forward for the development of a town center at Bay Isles in Longboat Key, a move which was affirmed by a 2013 Urban Land Institute (ULI) report. In May 2014, the Long Boat Key Town purchased a 2.81-acre vacant land at 594 Bay Isles Road, a site recommended by the ULI report. Plans for the town center development were presented to the Sarasota County Commission in October 2014 for approval and possible support funding.

Harrison Ranch certainly can’t steal the thunder from new developments in its more illustrious southern neighbor Lakewood Ranch, but this district in Parrish between U.S. 301 and Erie Road too is getting its fair share of recent exciting additions on Sarasota homes for sale. Just in October 2014, Bloomfield Hills, MI-based Pulte Homes announced that it is opening a new 43-home neighborhood in Harrison Ranch. Pulte and its sister homebuilder, Del Webb, are already building in other communities in Harrison Ranch.

Waterfront homes in Florida are still less expensive compared to those in other popular U.S. home buying destinations, even as the premiums paid for such properties in the Sunshine State’s Riviera Beach, Sarasota, Tampa and Lake Worth are among the top 10 percentage-wise in the nation. Price-wise, Honolulu tops in median price for waterfront homes with an estimated $3.8 million, which compares with the national average of $370,900.

An average of 115,500 to 123,500 vehicles has been estimated either entering or exiting this interchange on the Sarasota-Manatee county line daily. A significant increase in this traffic volume has been widely anticipated with the October 2014 opening of the new Mall at University Town Center just west of the interchange. Added vehicular traffic is likewise expected with many new residential property developments which have been sprouting around this area.

Living in Sarasota may have been significantly altered by the economic growth and added glitz that the city has experienced in recent years. Sarasota Bay Real Estate notes, however, that it is highly unlikely that such profound changes will overshadow the long-standing cultural maturity of Sarasota that has contributed much to enhancing property values in its residential communities. One primary reason that Sarasota will remain magnetic as a hub of culture is the strong opinions that Sarasotans generally have on their city’s arts and cultural heritage, the full service realty firm observes.

The construction of a new seawall in the south side Bay Island Park on Siesta Key is expected to be completed December 2014, following resumption of the project in June. Already more than 40 years old, the structure suffers from erosion issues. Work to replace the park’s seawall began in March 2013 but was halted in August that same year due to the default of the contractor for the project’s northern section which is under the jurisdiction of the city of Sarasota.

Close to 50,000 households are in the crosshairs of Benderson Development Co. as it filed plans with Manatee County authorities for the demolition of its Home Depot-anchored Lakeside Plaza shopping center at 2108 Cortez Road West, South Bradenton, to give way for the construction of a 44,670-square-foot retail hub. Benderson purchased the Cortez Road property in 2012 for $1.7 million. This 25,000-square-foot South Bradenton shopping center has largely remained untenanted, except for a barber shop and a Chinese restaurant.

Recent initiatives to upgrade golf facilities in Sarasota underscore the truism that enjoying the lifestyle of golf communities could be reasonably affordable. For instance, a four-point plan set in motion in September of 2014 to rehabilitate the Bobby Jones Golf Club sparks some attention to home buying opportunities around this historic 45-hole municipal links. Established in 1927, Bobby Jones was named after Robert Tyre Jones Jr., the Tiger Woods of the royal and ancient game during the 1920s.

Enhanced client servicing and better efficiencies can be expected with the realtors’ associations of Manatee and Sarasota counties merging into the Suncoast Realtor Association (SRA), effective January 1, 2015, Sarasota Bay Real Estate reports. In an overwhelming vote, members of the Sarasota Association of Realtors (SAR) and the Manatee Association of Realtors (MAR) approved the merger in late August 2014. The approval brings into motion a consolidation of SAR and MAR’s memberships.

Recent efforts of the Sarasota Bradenton International Airport (SRQ) to bring in new flights to the region are beginning to bear fruit, thus providing added economic stimulus in the region, including market attention on Sarasota homes for sale. In September 2014, SRQ officials announced Delta Air Lines will start non-stop Saturday service between SRQ and New York to the John F. Kennedy International Airport (JFK), effective February 14 to April 4, 2015. Delta will use in these new SRQ seasonal flights its 76-seat CRJ-900 aircraft.

Exhibiting a heightened sense of social responsibility, the private and government sectors in Sarasota are undertaking various initiatives to address housing affordability and homelessness, Sarasota Bay Real Estate reports. These moves, the full service realty firm notes, should consequently contribute to further enhancing the quality of life in many local communities and eventually result too in adding luster on Sarasota homes for sale.

Forecasts of a sustained rise in mortgage rates in 2015, coupled with prevailing tight lending standards, may look as daunting, particularly for prospective first-time home buyers in search of Sarasota homes for sale. Nevertheless, the dream of homeownership amidst such headwinds remains highly possible with the help of a professional agent, Sarasota Bay Real Estate (SBRE) maintains. First, what’s important is for buyers to have a mindset that the regime of record-low mortgage rates is now over…

Several major developers served notice that the home construction industry in Manatee could be headed toward a banner year in 2015, following their frenetic land banking activities moving into this year’s fourth quarter. Toward end-August, Neal Communities paid a record of nearly $8.3 million for 111 acres of rural land at the eastern end of 44th Avenue. This purchase was reported as the largest single land deal ever for Neal in Manatee and Sarasota counties.

Casa Museo, a single-family housing development, is moving forward in an 8.4-acre site at 4200 Bay Shore Road in this West of the Trail locality. Level Homes, a Baton Rouge, LA, based developer, has submitted plans for a 23-home residential complex in this property located near the existing Indian Beach/Sapphire Shores neighborhoods. The company earlier purchased the land for $4.1 million, thus sidestepping moves by the local residents to convert the property into a park.

WCI Communities, a fully integrated community developer and luxury homebuilder focused solely on the coastal Florida markets, has further accelerated development of Sarasota National, a 2,400-acre Venice golf community that it acquired in 2013. Following a string of model launchings during the first half of 2014, the Bonita Springs-based homebuilder introduced in July 2014 the first collection of coach homes at the community’s Banbury II neighborhood.

Consider vehicular traffic, pollution and parking as diminishing areas of concern if you’re planning to relocate to downtown Sarasota and its nearby areas. The city government and local business and civic groups are taking purposive efforts to address these issues exacerbated by the current trend of reverse migration to the downtown from suburban districts. Signs of accelerating population growth in Sarasota’s urban core abound.

The New York and London-based Fitch Ratings Corporation in August upgraded to “AA+” its rating for the outstanding utility system revenue bonds amounting to nearly $190 million that Sarasota County issued in 2013. When these financial instruments were launched last year, they received an “AA” rating from Fitch, one of the three nationally recognized statistical rating organizations (NRSRO) designated by the U.S. Securities and Exchange Commission.

Conditions remain volatile for distressed residential properties in Southwest Florida, although foreclosure cases are falling. A realtor who can help clients, either as buyer or seller of Sarasota homes for sale, would be a valued resource to expertly navigate through the possible market shifts. One factor to watch is another wave of discounted bank-owned residential properties which could hit the region’s market in the months ahead.

By the fall of 2015, delivery is expected for the pre-sold condo units of the Aria, which is but one of the recent property developments reshaping Longboat Key. Other projects in the pipeline include the Infinity condo and single family homes at two proposed luxury subdivisions—Bonaire with just nine residences and the Enclave set for only three homes. These new projects are in addition to the 17 new single-family home permits that the town of Longboat Key issued from October 1 to April 15.

Well-guided are those home buyers who put Manatee and Sarasota high on their search list due the high standard of education available in the two counties. Both again showed stellar rankings in 2013–2014 district grades which the Florida Department of Education released in July. Sarasota emerged tops among eight similar-sized Florida districts in the ranking which utilized the Florida Comprehensive Assessment Test or FCAT.

Lakewood Ranch (LWR) appears well en route to maintaining its lofty stature among the top 10 best selling master planned communities in the U.S. In 2013, Lakewood Ranch was ranked ninth in the list of the country’s best-selling master planned developments compiled by the John Burns Real Estate Consulting. As of August, some of LWR’s first-run inventory has already been sold out, in effect providing increased demand for resale homes in the 17,500-acre Lakewood Ranch enclave.

Home buyers who prefer new construction will find the choices more plentiful in Sarasota and Manatee. Preliminary research data from Metrostudy showed that from April to June of 2014, builders officially started the construction process on 988 new homes in the two counties. This represents a 19.6% improvement from the first three months of 2014 and an 8.9% increase from the same three-month period in 2013. This pace goes on record as the fastest clip achieved after the Great Recession.

Reflecting the upbeat mood of luxury home market segment, sales activity has picked up in recent months in the upscale Lake Club community at the master-planned Lakewood Ranch development. Ownership of a dozen homes was reported to have changed hands in this community in the 12 months ended June 2014, with one sale already on the pending list. Taking a look at the bigger picture in Sarasota, July recent months were indeed busy times for many luxury home sales agents.

A new down payment assistance program opened recently can pave the way for these buyers stymied by a limited budget. A fresh infusion of funds amounting to $650,000 from the State Housing Initiatives Partnership Program made the down payment assistance facility possible. To educate local realtors and lenders about this facility, a workshop was conducted in August by the joint city and county Office of Housing and Community Development.

A scenario of softening home prices due to rising mortgage rates appears on the radar screen of some market analysts in 2015. This forecast, in turn, is kindling interest in real estate solutions which can help both prospective buyers and sellers engage the market, particularly in metro areas where the home values, as per the property research firm Veros, are expected to drop by an average of around 3% next year.

Investors eying opportunities for rental properties in Manatee-Sarasota area would appear on the right track if they narrow down their choices to residences which would appeal most to the baby boomers or new retirees. According to RealtyTrac, a web-based housing data provider, Manatee and Sarasota Counties respectively ranked as 14th and 15th among the leading U.S. destinations for baby boomers who seek rental homes.

Citing “significant residential growth” expected near the Mall at University Town Center (UTC), its developer is now seeking retail space addition of 600,000 square feet plus another 100,000 square feet of space to the commercial hub set to open. If approved, this proposal of Benderson Development Co. will bring the UTC Mall’s total retail space to 2.28 million square feet and office space to 320,000 square feet. The additional retail and office spaces are proposed to be located in the UTC property between the mall and I-75.

The accelerated growth of the property market in the Suncoast in recent years has reawakened interest toward a career in real estate. This resurgence is evident in the enrolment at the Ed Klopfer Real Estate Schools in Sarasota which increased by about 20% this year. This gain is over and above the expectation of its owner, Ed Klopfer, who noted that people are now more optimistic going into the real estate profession.

According to Metrostudy, a real estate data firm, there is less than two weeks’ inventory of finished vacant new homes in each of the residential property markets in the Sarasota-Bradenton and Naples-Fort Myers region. Lack of buildable home sites and rising lot prices, along with shortage of skilled labor, are major hurdles for builders to boost inventory, data presented during the 48th Annual Real Estate Journalism Conference held in June 2014 at Houston, Texas, indicate.

Outside prime property markets like New York and London, Sarasota and other smaller cities in America and Europe are likewise providing strong allures for wealthy home buyers, observes the Financial Times of London in a recent feature. The paper notes that these offbeat destinations attract the super-rich because “they are discreetly upmarket” and take much pride in their distinctive assets. FT further says that these smaller markets offer exceptional meaning and character as well as unique homes to upscale buyers.

Weighed down by issues on affordability, the rate of home ownership in the U.S. has been on the decline in recent years. However, there are strong indications that millennials—Americans born from the early 1980s to year 2000—can drive homeownership rate toward the nearly 70% peak the U.S. had in 2005. In the 2013 first quarter, the U.S. Census Bureau estimated home ownership in the nation at 64.8%, the lowest level in 19 years. In Florida, the percentage is slightly better at 66.9%.

Manatee County looks an enticing destination for prospective buyers of affordably priced homes in the Suncoast, based on recent data from the local realtors’ organization. In May of 2014, the county’s new listings of single family residences at the $150,000–$199,999 price range advanced 21.3%. This gain is in marked contrast with the 1.1% decline in overall new listings in Manatee during April and May. Notably, more choices in the market have also appeared in mid-priced homes as new listings increased by 17.4%.

Developers are upping up their ante in Manatee County in an apparent move to position themselves to grab a significant share of the estimated 300,000 people expected to migrate to Florida soon.
One of the most aggressive moves was taken by D.R. Horton, a Texas-based national homebuilder, which has scheduled construction starting August for its Del Tierra community. This development is located on a 665-acre site at Upper Manatee River Rd. near Rye Rd.

Upscale home buyers keen on buying opportunities in Sarasota will need to rely on real estate agents specialized on sales of luxury residential properties. Pinpointing the right choice would be a bit difficult without the right professional help as the inventory of luxury Sarasota homes for sale has declined significantly since hitting over 50 months of supply at the height of the 2010 housing crisis. Industry analysts now estimate that inventory of luxury properties in Sarasota has dropped by nearly 25% since its 2010 peak.

Economic growth in the Sunshine State in recent months points to a climate growing more hospitable to would-be entrepreneurs, Sarasota Bay Real Estate reports. During the 2014 first quarter, for instance, Florida consumer spending gained by 3%. April job figures are as encouraging with unemployment trimmed to 6.2%, matching the near six-year low posted in January and February. Some 34,000 new jobs were created in April, more than any month in the past three years.

The recent increases in home prices and mortgage rates currently confront prospective residential property buyers. Nonetheless, there are ways by which they can address the projected 5-6% increase in home prices this year and the expected gain in mortgage rate to 5% for the rest of 2014. Availing of down-payment assistance programs is one of the solutions that were presented in 2014 June’s National Real Estate Editor’s conference in Houston.

One member of the panel, which was comprised of real estate website executives, ZipRealty CEO Lanny Baker pointed out that licensed professional real estate agents represented nearly 90% of home sellers in 2013. This slice, the executive said, compares with 69% in 2001, speaking well of the realty agents’ ability to maintain their role as trusted advisors even amidst the wealth of online real estate information that has already become available.

The growing opportunities in the Suncoast for senior citizens to pursue an active lifestyle continue to draw baby boomers—persons born between 1946 and 1964. Recent statistics from the U.S. Census Bureau, in fact, indicate that the influx of retirees to the region is one of the strongest in the nation. The demographics of Suncoast seniors from 2010 to 2013, according to the bureau’s data, showed an increase, with those in 65–69 age bracket rising to 34,676 in 2013 from 33,858 in 2012. Similar gains were noted in ages 70–79.

No, the situation isn’t desperate. But nonetheless, aspiring first-time homeowners, with the help of their realty agents, need to hurdle the challenge of rising prices and homes becoming less affordable for entry-level buyers. Besides the home affordability obstacle, first-time home buyers are also facing tougher qualification standards on mortgages and scarcity of sales-listed homes in the lower-priced ranges.

Currently, less than 20 residential properties in North Venice are listed in the MLS of Sarasota homes for sale. Additional options in new home builds, however, can be expected to be available in the medium-term as rezoning of the Villages of Milano, a project of Neal Communities, was approved June 2014 by the Venice City Council. From residential multi-family-1, the project’s 383-acre site along Jacaranda Boulevard, between Border and Laurel roads was rezoned to a planned unit development (PUD).

The list of property developers which have set up stakes in this locality has continued to grow, with the recent entry of Mattamy Homes, a leader in developing master-planned communities in Canada, Sarasota Bay Real Estate reports. This Canadian developer which is also behind several Florida communities, acquired in May of 2014 Thomas Ranch, a property consisting of over 6,000 acres in North Port and an additional 3,650 acres in unincorporated Sarasota County.

Sarasota County Technical Institute (SCTI) cleared a major hurdle for the establishment of a new campus in South Sarasota County. The school, which offers affordable education, has been granted a $3 million allocation under the record $77-billion Florida state budget for 2014–2015. The SCTI state funding is the last piece that school authorities have been waiting for to implement the establishment of the new Sarasota campus. The amount will complement the $18 million that the Sarasota County School Board has already set.

Demonstrating the vibrant mood of the luxury home market in the region, it took Holmes two tries before finally closing the deal at the Concession. The pro golfer, who clinched the Wells Fargo Championship at Quail Hollow Club, Charlotte, NC, in May, earlier failed in a bidding duel with a buyer from Peoria, IL for another sales-listed residence at the golf community. The eventual buyer, Michael J. Stone, shelled out $2.85 million for the contended 9,000-square-foot home.

Prospective home sellers would be well on track if they include international buyers among their specific target markets, Sarasota Bay Real Estate reports. The possibility of a more expeditious sale is one advantage of attracting foreign buyers who often have the ready cash for a home purchase. In the 12-month period ending July 2013, a study from the Florida Realtors showed that 84% of the 22,572 transactions involving non-resident foreigners buying properties in the Sunshine State were cash sales.

Total home inventory in the Sarasota-Manatee-Charlotte market has begun to creep higher but prospective buyers, nonetheless, will have to contend with a sellers’ market, Sarasota Bay Real Estate (SBRE) reports. In April of 2014, the aggregate number of condos and single family homes available in the three counties was estimated at a 5.3 months’ supply. This level, though an improvement from the year-earlier estimate of 4.6 months, is still below the industry benchmark of a 6-month supply equilibrium.

Prospective home buyers eying properties around the mid-price range are facing a more arduous search due to very limited inventory, Sarasota Bay Real Estate reports. As of April 2014, the available homes for sale in Sarasota in the $150,000–$200,000 price range stood at just 2.1 months’ supply. Similarly, a 2.8-month supply was estimated for sales-listed homes priced between $250,000 and $300,000. For a balanced market, a 6-month supply is generally considered as the benchmark for residences.

Since the start of 2014, this two-story shopping center has been assembling not only a powerhouse cast of tenants within its 880,000-square-foot of retail space. A $315-million project of Taubman Centers and Benderson Development, it has also catalyzed the establishment of other commercial and business enterprises around the University Parkway corridor which is the fulcrum for many residential communities in Manatee and Sarasota counties.

This year, Honore Avenue is scheduled to punch its 19-mile north-to-south extension through Pinebrook Road, thus providing added stimulus for property developers in the locality. The Honore Avenue project dovetails perfectly with the 1.2-mile extension of the Jacaranda Boulevard which opened in October last year. This extension traversing Border Road to Laurel Road has created a new north–south access route east of Interstate 75.

The authoritative advice of a reputable broker is a must in the current property market particularly those coming in for the first time either as a seller or a buyer, Sarasota Bay Real Estate (SBRE) observes. As the market is slowly creeping back to normalcy, there are some fluctuations bringing in excellent selling and buying opportunities which can only be discerned by experienced agents, adds the full service real estate firm which recently received the 2013 Florida Excellence Award from the US Trade and Commerce Institute.

Sustained gains in the tourism sector in Sarasota and Bradenton bode well for investing in a vacation home which can double as a rental property in these two popular Southwest Florida travel destinations. Prospects remain bright as local tourism officials have taken several initiatives to maintain the record-breaking growth of tourism experienced in the region during the past three years.

Here’s a piece of good news for prospective home buyers in Charlotte County. An analysis by CoreLogic Case-Shiller validates this realtor sentiment, predicting that Charlotte County home prices will advance by just 4.3% through mid-2014. Continuing concerns on rising mortgage rates have been cited as a dampener to a faster acceleration of home prices in the county and in neighboring Manatee and Sarasota counties where median home sale prices surged by an estimated 21% last year.

Taken as a single market, the Sarasota-Bradenton area’s annual starts rose 32.8% to 3,785 units. For the 2014 first quarter, construction was started on 918 single family homes, up 2.7% from the 894 starts in the 2013 first quarter. Inventory in the year’s first quarter for single family homes stood at 1,834 units, 21.3% above the same period in 2013. The current inventory level represents a 6.4 months’ supply of units under construction, home models, and finished but still vacant residences.

Financing-dependent home buyers need to take some crucial steps in order to successfully compete with the cash buyers who currently dominate in the U. S. residential market. Cash home sales during the 2014 first quarter accounted for 43 percent of the total sales for the three-month period, according to a recent research by RealtyTrac. This slice for cash sales stands at its highest level since the analytics firm started monitoring this particular market gauge in 2011. Significantly, this benchmark is even higher in several local markets.

Market activity for residential properties in the area dubbed as ”West of the Trail” in Sarasota can be expected to pick up. Summer 2014, a new community, called The Enclave, was scheduled to commence construction in this locality which is a perennial favorite destination of home buyers. This area approximately covers the residential communities west of US 41 or the Tamiami Trail from Mound Street to Siesta Drive.

The rising employment opportunities in Southwest Florida, which indicate an economic recovery stronger than the national pace, make markets like Sarasota a looming hotspot for potential investors and home buyers. The strong resurgence of the local economy manifested in March 2014 as the combined unemployment rate in Sarasota, Manatee, and Charlotte slipped to 6% from the previous month and from last year’s 7% level.

The Sarasota property market has been exhibiting vigor which is likely to intensify further. Besides the sustained gains in home sales and prices recently, a recent tally of the City of Sarasota provides another encouraging sign of the gathering verve of the local real estate sector. City records show that more than 1,500 new residential units could be brought in by the two dozen or so real estate developments within or near the Sarasota’s Community Redevelopment Area (CRA).

Marketing has started for the Sansara, a 10-story mixed use development located at 300 South Pineapple, at the southwest corner of Pineapple Avenue and Ringling Boulevard. Groundbreaking for this luxury condo is scheduled this May. Its site is one of the preferred locations in Burns Court, which was named after Owens Burns, one of Sarasota’s pioneer builders and developers during the 1920s. MK Equity Corp., a boutique-style real estate development company based in Chicago, is developing the Sansara.

The robust banking and financial institutions operating locally, statewide, and nationally should help keep the home market in Sarasota on its healthy track. Recent stress tests by the Federal Reserve showed that the largest national banks operating in the Sunshine State are in now a better position to cope with a severe downturn similar to the recent Great Recession. Conducted annually, these bank checkups are mandated under the federal Dodd-Frank Act in order to monitor performance of the US banking industry.

An initiative is underway which can be expected to further bolster the reputation of Sarasota as the Cultural Coast, a trait which has attracted many creative hands, hearts and minds to settle in this part of Southwest Florida. Through the combined efforts from the private and government sectors, a comprehensive feasibility study was launched recently for the establishment of an artists’ enclave in Sarasota’s historic North Trail corridor.

Sarasota marks its 100 years of cityhood in 2014 without much fanfare save for an “On the Street Where You Live” presentation by the Historical Society of Sarasota County in January which detailed the colorful local real estate history. Be that as it may, Sarasota Bay Real Estate reports that city authorities and the community have joined hands in many noteworthy efforts contributory to the continuing growth of the city. The city’s Bayfront Connectivity Plan is one of the most visible of these endeavors.

Competition from moneyed investors appears as a continuing concern for prospective home buyers in Florida, Sarasota Bay Real Estate reports. The lingering investor interest on buying opportunities in the Sunshine State’s residential market was evident in February 2014. During the month, Florida led cash home sales in the US, with all of its regional markets landing in the top 100 regions nationwide where cash sales exceeded 50%.

Realtors will need to do some diligent work for their clients in search of distressed residential properties for sale in Manatee, Sarasota Bay Real Estate reports. Foreclosure and short sales are on a general decline in the county during the past three months and the deep discounts erstwhile available are being eroded by recent price gains. Reflecting the downtrend in 2013, Manatee foreclosure sales dropped 9% year-over-year the following January, while median sales price increased 22.5% to $110,250 from $90,000.

Another distinction is shaping for Sarasota which has established itself as Florida’s Cultural Coast with its enriching arts and culture legacy. Combined with Bradenton and North Port, Sarasota in recent years is carving a reputation as a millionaires’ hub after consistently coming out among the top U.S. metropolitan statistical areas (MSA) having the highest concentration of the wealthiest households. As per the 2013 reading of Phoenix Marketing International, 5.3% of the 319,611 total households in the North Port-Sarasota-Bradenton MSA have investible assets of at least $1 million.

The local home market in Florida looks getting back to normal at a pace quicker than the national level, recent industry data indicates. Coupled with gains in prices, sales of single family homes in February of 2014 advanced in the Sunshine State, a stark contrast to a decline nationally. Sales contracts on 15,826 single-family homes were closed state-wide during the month, up 1.5 percent from the year-earlier level of 15,591 and 5.5 percent higher than the 15,000 closed sales in January.

Sales of available properties at Coral Shores, one of the popular boating communities in West Bradenton, appear going on a brisk pace. As per the last count in the MLS of Sarasota homes for sale, six properties out of a dozen listings in this community already have pending contracts. Further stimulus to market activity here and in neighboring communities like the Palma Sola Trace of national homebuilder Taylor Morrison can be expected.

In the beginning of 2014, the Sarasota County Commission approved a special permit exception for the construction of a three-story building with both rental and retail space at a former restaurant site on Ocean Blvd. A high-end apparel retailer, Gidget’s Coastal Provisions, was reported as planning to acquire the lease on the building’s ground floor. Already, the Sarasota downtown-based Lotus Boutique, known for its upscale fashion items, has set up shop at Ocean Blvd.

The recent upturn of the residential property market in Sarasota can be expected to notch up even higher. Along with the momentum that the local home market further gained in the beginning of 2014, Sarasota Bay Real Estate (SBRE) reports that realtors and brokers in the county are gearing themselves up to maximize opportunities from the heightened market activity. The market for resale homes in Sarasota hit the ground running in 2014 with a substantial increase in new listings which spurred a 10.6% rise in total inventory from December.

Builders in Sarasota and Manatee have the residential property market in these two counties pretty well covered with their current model offerings cutting across various price segments. This wide choice for prospective buyers of newly built residences was evident in the annual Parade of Homes which the Manatee-Sarasota Building Industry Association held in late February up to early March of 2014. Eighty homes from 26 builders were showcased during the 16-day tour, up from the 65 house models displayed the previous year.

SBRE, a full service realty firm, observes that since October 2013, Lennar has been aggressively promoting sales of its new builds starting around the $200s at the Gran Paradiso community in the West Villages district of North Port. The homebuilder acquired this 370-acre property sometime in the latter half of 2013, drawn by the infrastructures that its original developer, Sam Rodgers, has already set up. Also, the community’s strategic location near I-75 and U.S. 41 is a decisive advantage.

Prospective home buyers more inclined on searching for new construction are likely to find Sarasota-Bradenton as richer a hunting ground among the metro areas in Southwest Florida, Sarasota Bay Real Estate (SBRE) says. The full service realty firm based this observation on a recent research from the consultancy firm Metrostudy showing a 6.9-month supply of single-family homes under construction, finished models, and vacant units in the Sarasota-Bradenton metro area.

The demand for new home construction in the U.S. appears shifting toward bigger homes, Sarasota Bay Real Estate (SBRE) reports. Quoting four-year comparative statistics from the Census Bureau, Rose Quint, NAHB assistant vice president for survey research, noted during the show that the average size of U.S. residences built in 2013 rose to 2,679 square feet from 2,2,362 square feet in 2009. An upward trend was likewise observed in the percentage share of new builds with at least four bedrooms.

The Manatee Association of Realtors (MAR) marks its centennial in 2014 with a vibrant residential property market contributing much to the upbeat mood in its celebration of this milestone event. More home buyers and sellers are now getting involved in the residential market in Manatee, as per indications at the start of the year. In January of 2014, Florida Realtors statistics compiled from MAR members’ reports show that inventory of single family homes in the county stands at a 4.6-month supply, a tenth of a point below the year-earlier level.

Emotional thinking appears significantly at play in home buying in major U.S. cities these days, a situation which underscores the importance of having a real estate agent who can provide an objective viewpoint on available properties. A recent market survey showed that “falling in love” with an available residential property come as a prime enticement for those in search of American homes for sale. This survey was based on the frequency of the word “love” in the copies descriptive of properties found in the Multiple Listing Service.

There’s some thinking in the Southwest Florida real estate circle that Manatee looms as the region’s epicenter of the market for new homes as more land is becoming more available for residential development in the county than its neighbor Sarasota. The recent spate of proposed and approved homebuilding projects announced in Bradenton, Palmetto, and Parrish indeed supports this viewpoint. However, Sarasota Bay Real Estate notes that what may actually be developing is a dynamic growth that encompasses both counties.

Recent indications of declining home affordability and rising mortgage rates need not discourage first-time buyers or homeowners eying to sell their residences and scale down to a smaller house. Mortgage rates, at their current levels are still historically cheap at around 4%, reports Sarasota Bay Real Estate (SBRE) whose website has a facility to track monthly mortgage interest rate trends. Notably, mortgages carried as much as 7 percent interest after the U.S. economy took a beating in 2007, according to the full service realty firm.

SARASOTA, FLORIDA, September 29th, 2014 – It isn’t only Orange Hammock Ranch LLC which won in the recent auction of the 5,774-acre McCall Ranch in North Port, Sarasota Bay Real Estate reports. The communities around this property, touted as the last of its kind in South Florida, also emerged as immediate winners. Prospects now look brighter that a part of McCall Ranch or its entire area of lush natural environment teeming with wildlife can be preserved.Orange Hammock’s winning bid was $13.9 million, or $2,190 per acre.

SARASOTA, FLORIDA, September 29th, 2014 – Some profound changes appear looming ahead in Venice, Florida, Sarasota Bay Real Estate reports. The full service realty firm notes that local officials had a series of planning sessions this February to seek inputs from its citizenry for proposed ways to create a more diversified economic base for the city. In so doing, Venice wants to be more than just a retirement community but also mold itself as an attractive option for younger residents.

SARASOTA, FLORIDA, September 29th, 2014 – Preservation of a quaint beach area in Long Boat Key, locally known as Beercan Island, has taken priority over a coastal protection project in its locality. This development, Sarasota Bay Real Estate reports, demonstrates the high sense of community which makes the barrier island’s neighborhoods ideal to settle in.A threat to Beercan Island came about late last year when a state permit to build a concrete football-field-sized coast protection across its shore was granted to the town of Longboat Key.

SARASOTA, FLORIDA, September 29th, 2014 – Previously reported and released full-year housing data for 2013 confirmed encouraging prospects for homebuilders who have lined up additional projects in Manatee County, Florida, Sarasota Bay Real Estate reports. The strong market demand amid substantially reduced availability of resale homes last year that resulted in significant gains in prices should continue to be fertile ground for the county’s home construction sector

SARASOTA, FLORIDA, July 11th, 2014 – A vibrant market for Sarasota homes for sale is shaping up this summer, Sarasota Bay Real Estate (SBRE) reports. The realty firm notes that major players in Southwest Florida’s residential property sector have in their pipeline a strong supply of spec homes and buildable lots in anticipation of increased demand. This supply buildup of the homebuilders comes at a time when the inventory on resale homes appears to be on an upward trend, SBRE adds.

SARASOTA, FLORIDA, July 11th, 2014 – Main Street of Lakewood Ranch (LWR) has come into its own as a life and leisure center, Sarasota Bay Real Estate reports. The realty firm notes that this LWR business and commercial hub has consistently drawn new tenants and successfully organized special events, thereby strengthening its stature as among the local attractions drawing prospective buyers of Lakewood Ranch homes for sale.

SARASOTA, FLORIDA, July 1st, 2014 – Looming shifts in two centers of gravity in the retail landscape in Sarasota, Florida, promise to add further dynamism to its property sector. One of these hubs, The Mall at University Town Center (UTC) is already generating excitement among residents and prospective buyers of Sarasota homes for sale around its vicinity at University Parkway and Interstate 75. The UTC is scheduled to open in mid-October 2014 and is drawing keen consumer interest.

SARASOTA, FLORIDA, July 1st, 2014 – Residents and visitors of Siesta Key can expect some relief from parking problems in the barrier island particularly in areas near its beaches which are year-round magnets for both local and foreign tourists. This issue on parking again cropped up this January when the Sarasota County Commission banned parking on certain parts of Avenida de Mayo. Some stretches along this road had served as a popular option for overflow parking of beach-bound visitors and patrons of the shops and restaurants in the village.

SARASOTA, FLORIDA, June 6th, 2014 – Thanks to the rising number of builders in Southwest Florida who have committed themselves to construct 100% Energy Star^®-certified homes, prospective buyers of have plenty of excellent choices on energy-efficient residences. Last year, Sarasota Bay Real Estate notes that four more homebuilders operating in the region were added to the roster of partners to this energy-efficiency building program of the U.S. Environmental Protection Agency (EPA).

SARASOTA, FLORIDA, June 6th, 2014 – The presence of stores which provide superior services certainly contributes to the quality of life in any residential community. With this sound logic, residents of Sarasota as well as neighboring Manatee have reason to cheer about Publix Supermarkets coming out anew in the Fortune magazine list of the best 100 U.S. employers. After all, happy employees subsequently make happy customers. Since 1998, this Lakeland, FL-based supermarket chain has been a consistent lister in the business publication’s roster of the best 100 companies

SARASOTA, FLORIDA, June 6th, 2014 – Prospective buyers looking for foreclosures and short sales in Sarasota County expecting dollar discounts in the tens of thousands may be in for some disappointment. There aren’t too many of these distressed properties anymore and their price gap from the conventional Sarasota homes for sale has already narrowed substantially. Nonetheless, purchases of these distressed Sarasota homes for sale at prices approximating their former attractive levels can still be fruitful.

SARASOTA, FLORIDA, June 6th, 2014 – Searchers of residences in Southwest Florida who have handicapped-accessible public facilities prominent on their checklist would be well-advised to consider Sarasota homes for sale. Public accommodations in the county aren’t only complying with the Americans with Disabilities Act (ADA) which among other things mandates installation of handicapped-friendly facilities in public places. Many local establishments are taking a step further to improve on this requirement.

SARASOTA, FLORIDA, June 6th, 2014 – Legends Bay and Bayshore Gardens are two attractive destinations for prospective home buyers eying options in southwest Manatee. Sarasota Bay Real Estate reports though that the available properties in these areas aren’t too plenty across the various price ranges, reflecting the tight 4-month supply of Manatee County homes for sale. Buying interest is relatively keen as about one-third of the current 32 sales-listed Bayshore Gardens residences have been sold.

SARASOTA, FLORIDA, May 22nd, 2014 – Congress approved this January a stop-gap measure to delay the implementation of the increases in flood insurance premium to homeowners. Adopted under the $1-trillion government spending bill, this remedy is however only for the short-term and will only defer the rate hikes’ implementation for at least nine months. This will buy Congress enough time to mull over a more wide-ranging reform bill designed to delay implementation for four years.

SARASOTA, FLORIDA, May 19th, 2014 – Chances have grown better for the young adult community in Sarasota and Manatee to pursue careers locally instead of seeking greener pastures elsewhere. This development drives household formation and spurs demand for Sarasota homes. It is being fostered by the recent emergence of the Florida High Tech Corridor as one of the country’s emerging hubs for technology development.

Each year the USTCRI conducts business surveys and industry research to identify companies that have achieved demonstrable success in their local business environment and industry category. They are recognized as having enhanced the commitment and contribution of small businesses through service to their customers and community. Small businesses of this caliber enhance the consumer driven stature that Florida is renowned for.

SARASOTA, FLORIDA, March 12th, 2014 – Sarasota is largely considered to be a retirement community, but it can compete with other U.S. cities of its size in terms of a lively lifestyle. This was stressed anew in a recent ranking of the website Movoto.com on “The 10 Most Exciting Small Cities in America” wherein Sarasota emerged tenth from among the 50 cities rated. Despite the fact that seniors vastly outnumber young residents in the city, Sarasota was tops in the list in terms of nightlife and live music venues per capita.

SARASOTA, FLORIDA, March 12th, 2014 – Growth momentum appears on the side of Ellenton, a small community just off the northern banks of Manatee River, a prospect which could further add to the allure of Manatee and Sarasota home choices. By the end of 2014, over 400 full-time employees are expected to be hired by Feld Entertainment in its global operations of Ringling Bros. circus and Disney on Ice which it started moving to a 47-acre site in Ellenton from Vienna, Va., early last year.