Venice Area Homes Blog

                                                     JUNE                       JULY                      AUGUST

AVERAGE SOLD PRICE                    $950,000               $4,562,500         $1,536,667

LOWEST SOLD PRICE                     $950,000               $1,550,000         $ 700,000          

HIGHEST SOLD PRICE                    $950,000               $7,575,000         $1,960,000

AVERAGE DAY ON MARKET                   258                    83                          676

AVERAGE LISTING PRICE                $3,822,800            $3,692,500           $2,096,333

LOWEST LISTING PRICE                 $1,175,000            $990,000              $695,000

HIGHEST LISTING PRICE                 $6,499,000           $6,395.000           $3,999,000

Summary of Sold Homes for Manasota Key Florida

01/24/2011  2480 Alamander 3/2      1979     $128,900       $128,900          0.00%      120*

02/23/2011  6155 Manasota  3/4      2007     $1,390,000    $1,350,000      -2.88%        405

02/28/2011  8075 Manasota  4/3      2011     $449,900      $400,000        -11.09%         47

03/25/2011  1755 Manasota  3/2      1978     $125,000      $125,000         -0.00%      74**

04/15/2011  1710 6^th St       3/2      1997      $300,000     $240,000        -20.00%        149

04/27/2011  1724 Fessler      3/2      1977     $280,000      $150,000       -46.43%        802

05/05/2011  8300 Manasota  2/3      1950     $1,500.000    $1,000,000     -33.33%        265

05/27/2011  1403 Manasota  3/2      1978     $125,000       $125,000         0.00%       53**

07/15/2011  2660 Alamander 2/2.1    1989     $269,900      $260,000          -3.80%         41

08/23/2011  1774 Gale St     2/2       1987     $219,900      $197,00          -11.62%        74

08/26/2011  1730 Manasota  2/2      1976      $109,000      $102,000         -6.86%       251

09/02/2011  725 N Manasota 2/2     1977       $995,000      $775,000        -28.38%          1

09/16/2011  2560 Lemon      3/2     1992       $149,900      $160,000          +6.31%     119*

Summary of Activity for Manasota

01/01/11-06/28/11   8      $441,738        69         $1,738,072           4              $312,950

06/28/11-09/24/11   5      $257,333        46         $1,766,991           5            $1,308,760

Just a Note...

What a great time of year.   The air gets crisper, fall festivals fill the calendars, the back to the school rush is done and everyone seems more settled into life's routines.  The summertime fun is behind us and the holiday rush hasn’t yet begun, but the days are sure and steady, don’t you think?

Sure and steady can be a good thing, especially when you are considering big decisions like buying or selling a house.  Know I’m here if you need me, and a steady force you can count on when you’re weighing all your options.  Also know that when you’re looking for additional resources for your home or family, I’ve usually got some great recommendations you can lean on as well.  Whether it’s a roofer or plumber, handyman or even tutor, you’d be surprised how many names and numbers I might be able to help you with. 

As a real estate professional, I am blessed to get to know people from all walks of life and if I don’t have a referral for you, I’m sure one of my colleagues will.  Just call me and ask.  My business is more than just real estate — it’s helping people just like you in whatever way I can each day.  Have an amazing October, and remember, I’m just a phone call away!

Took this photo of a huge spider that is at the door way to my home office.  This guy is very scary and I believe him to be a Banana Spider.  What do you think my Venice Florida Realtor and friend, Jim Bath?  He also just found himself some breakfast.  This is fasinating as well as I wish he move to someone else's yard. Do you know what kind of spider this is?

A steady drop in property inventory for sale, combined with a stable, sales demand in the Venice/Englewood real estate market, is pointing toward normal, healthy property appreciation in the coming months. An analysis of sales, prices and inventory figures reflects a market in recovery, led by a declining pool of available properties on the market. The inventory of available properties for sale has been dropping for the past nine months, and hit another decade-low figure of 2,451 in August 2011. Sales during the past 10 months have averaged about 400 every month, and exceeded over 500 two times.  As a likely result of consumer demand and dropping inventory, the median sale price for single family homes and condos has recovered from the lows reached in January 2011, when both categories showed a median price of $132,000. The latest monthly figures in August showed a median price of $152,000 for both single family homes and condos – a 15.2 percent improvement from the lows of only seven months ago.

No one has a crystal ball, and it wouldn’t be wise for anyone to make a solid prediction on the future of our market. But we can clearly see the normal market forces of supply and demand as Venice/Englewood is becoming a seller’s market, in which price appreciation would be expected.

With only a quarter of the properties on the market compared to four years ago, competition for properties has been dramatically increased, and agents are now fielding multiple bids on many properties. The months of inventory dropped slightly to 7.3 months from last month’s figure of 7.6.4 months. This statistic represents the time it would take to sell the existing inventory at the current month’s rate of sales. The 6 month level is traditionally a point which represents equilibrium in the market between buyers and sellers. For properties priced under $350,000, most price ranges are indicating a seller’s market has returned. This is in marked contrast to three years ago, when a buyer’s market was in full force. In August 2011, pending sales were 395 up compared to July 2011 at 321. “We are coming out of the usually slower summer sales months with a much improved, healthier real estate market,” said Michael Bruno Sarasota MLS President. “The fall should prove to be steady and strong. The only thing continuing to hold back our market from even bigger numbers is the percentage of distressed sales, which is still higher than we’d like to see.” The overall percentage of distressed sales (foreclosures and short sales) dropped slightly in August 2011 to 17.33 percent from the 18.17 percent figure in July 2011. That compares to a 12 month high in December 2010 of 22.72 percent. “The non-distressed properties are still selling for two or three times more than the short sales and foreclosures,” explained Bruno. “This is a huge difference, and naturally pulls down the overall median sale price. But everyone remains hopeful that the distressed inventory, which now represents less than 20 percent of the total available properties, will start to drop rapidly in the coming months.

Patty Da Silva, CDPE - Davie REALTOR® - Certified Distressed Property Expert wrote an excellent post on Appraisal vs BPOs and the on going problems short sale agents are facing with each and every short sale we do.   Based on the amount of comments Patty received this is a huge problem that lenders seem to be ignoring and desperately needs regulation.  Thank you Patty for excellent post.

Thank you Mike Jones of Tucson AZ for an interesting story on the history of the credit card.  I try not to use these anymore unless I am going to be able to pay in full at the end of the month.

Thank You Pamela Cendejas, Second Self Virtual Assistance for a wonderful post on how much has changed from 1955 United States to 2011.  It is certainly eye opening.  

What a deal, cute as a button and clean as a whistle.  Ready for you to move in. Nice backyard great for fun partys and BBQs. Minutes away from some of the areas most beautiful beaches, close to great shopping, local restaurants and I75 interchange. The Legacy Trail is close by for those cycling enthusiasts. Not many homes left at this price in this condition. Don't let this one pass you by.

Click here to view additional photos and information

SHORT SALE This price allows you to start building your appreciation today.  Your success will show in every room of this much sought after - rarely found courtyard home located in prestigious Oaks Bayside. Just south of Sarasota this tropical paradise offers amenities second to none.  Through the doors of this unique home you will find elegant entertainment area with summer kitchen, pool, spa & water fountain. Magnificent views of the tropical preserve and north creek can be enjoyed from most rooms - luxury living with comfort and tranquility. Travertine marble flooring, master bedroom with balcony, master bath with dressing room, roman shower, jetted spa and bidet, gas fireplace in living area, french doors, concrete safe room, with separate guest quarters. You will appreciate the generous working space in the kitchen and the views of the tropical palms and of North Creek. The Oaks boasts two championship golf courses, tennis, Jr Olympic Swimming pool, Croquet, 3 restaurants and a Georgian style clubhouse. Residents enjoy a vibrant active lifestyle and you are also minutes away from the top rated beach in America, Siesta Key Beach, world class shopping and all of Sarasota's cultural activities. You will be proud to call this house your home. Exceptionally priced at $575,000.

To view more photos click here

SHORT SALE This price allows you to start building your appreciation today.  Your success will show in every room of this much sought after - rarely found courtyard home located in prestigious Oaks Bayside. Just south of Sarasota this tropical paradise offers amenities second to none.  Through the doors of this unique home you will find elegant entertainment area with summer kitchen, pool, spa & water fountain. Magnificent views of the tropical preserve and north creek can be enjoyed from most rooms - luxury living with comfort and tranquility. Travertine marble flooring, master bedroom with balcony, master bath with dressing room, roman shower, jetted spa and bidet, gas fireplace in living area, french doors, concrete safe room, with separate guest quarters. You will appreciate the generous working space in the kitchen and the views of the tropical palms and of North Creek. The Oaks boasts two championship golf courses, tennis, Jr Olympic Swimming pool, Croquet, 3 restaurants and a Georgian style clubhouse. Residents enjoy a vibrant active lifestyle and you are also minutes away from the top rated beach in America, Siesta Key Beach, world class shopping and all of Sarasota's cultural activities. You will be proud to call this house your home. Exceptionally priced at $575,000.

To view more photos click here