Sarasota Realtors are happy. They have been hearing some good news lately about the Sarasota real estate market. Last week Barbara Corcoran, one of ABC's sharks on the hit show Shark Tank and real estate expert, gave a list of the top 10 places to buy a home in the U.S. and Sarasota, Florida was #1. Now we have some good news from the Sarasota Association of Realtors. See below:

Real estate expert Barbara Corcoran listed Sarasota as the number one place in the nation to buy a property in her latest "hot market" prognostication. She cited the lower property prices - 30 percent below last year at this time - combined with a recent price surge of 13 percent in the last quarter, plus Sarasota's unique "metropolitan" cultural appeal for boosting this area to the top spot.

On the Oct. 6th Today Show, Corcoran said Sarasota was the top place to buy real estate in the nation today, an opinion shared by SAR and most area real estate professionals.

As a confirmation of Corcoran's report, home and condo sales jumped by 35 percent in September 2009, compared to the same month last year, and 9.7 percent from the August 2009 stats in the Sarasota market. Total sales stood at 554 in September, compared to 409 total sales in September 2008. The breakdown was 399 single family homes and 155 condos sold last month.

Sales in September 2009, traditionally a slow month at the end of the summer, were unexpectedly higher than in August 2009, perhaps signaling an early end for the traditional slower season as we head into a hoped for robust fall and winter.

The median sale prices continued to be held down by the high number of bank-owned property sales and short sales, which accounted for half of the single-family home sales and a third of the condo sales. But the "discount rack" is beginning to thin out, and once the bargains are gone, there is the potential for price appreciation on a stronger scale. The median sale price for single family homes was $165,000 last month, up slightly from the previous month, but down 21.8 percent from a year ago. The condo median sale price was $162,500, down significantly from September 2008's $190,000 figure.

The future price trend might well be upwards, as about half of the single family sales and one third of the condo sales involved short sales and foreclosures. Once these distressed properties are off the market, the normal, arm's length sales should bring the median prices to higher, true value levels. "We certainly agree with Barbara Corcoran, and her conclusions are what we've been saying for many months," said Bill Geller, 2009 SAR President. "This is an amazing time to buy Sarasota properties at prices not seen since the early 2000s, or even earlier. But the public needs to understand - these prices won't last. Once the market reaches equilibrium, and we've exhausted the distressed property pool, we will start to see more and more multiple offers on choice homes."

The $8,000 first-time homebuyer tax credit was one of the factors in the recent market resurgence, which produced sales in September that nearly topped the 600 level for the second time in 2009. In addition, investors seem to have returned to take advantage of the price drops. Pending sales in September have also continued to show strong levels - very near the 800 mark - as the real estate market recovers after a two-year recession.

Pending sales have now exceeded the 800 level for seven out of nine months in 2009, after lingering in the 400 to 500 per month range for much of the previous two years. The statistic is a strong indicator for the next two or three months of sales, when many of these pendings will become closed sales. Pending sales are sales where an offer has been accepted during the month, but the sale has not yet closed. Even though some pending sales never close, pending sales are an indicator of current buyer activity.

Most of the statistics continue to point to a market in the initial stages of recovery. Inventory levels continued to decline and are now at the lowest point since the boom ended - a good sign for a market in recovery. There are now only 3,915 active single family listings and 2,337 active condo listings, figures not seen since August 2005 and earlier when the boom first started.

The "months of inventory" - the number of months it would take to sell all the available properties at the current sales rate - was down for both single family and condos. The figure is 9.8 months for single family and 15.1 months for condos. A figure of 6 months is considered to be a market in equilibrium between buyers and sellers.

Roberts Point Road is one of the most exclusive streets on Siesta Key. It is quiet, laid back, comfortable and extremely desireable. There are some mega-mansions in Roberts Points on Siesta Key. Located near the north end of Siesta Key it allows residents easy access off the island into Sarasota. Roberts Point residents can be walking along the Siesta Key beach within a few minutes car ride or even a bike ride.

Some of the waterfront homes on Roberts Point are nothing short of breathtaking. There are over the top estates with breathtaking views of the Sarasota bay as well as older homes that been extensively remodeled or the unremodeled ones that simply have not been torn to make way for newer homes.

If Roberts Point sounds right for your give us a call at 941.812.6272. We would be happy to help you buy or sell any Sarasota real estate.

Are you looking for stunning? Thinking about a purchase in Sarasota, Florida? Take a look at Lido Shores homes on Lido Key. This is one of the most sought after communities in Sarasota, Florida. In 2009, there was a sale for just over $7.4 million. The home was not on the beach however it had a fabulous view of New Pass (the pass between Lido Key and Longboat Key). The water is deep along this section of Lido Shores so boaters will love it.

Lido Shores is just north of the world famous St. Armands Circle and on the north end of Lido Key. It offers some of the nicest homes in Sarasota. A few of the most expensive residential real estate transactions happened in Lido Shores. It really is a great place to call home.

Give me a call at 941.812.6272 if I can help you purchase Sarasota real estate.

This is one of my favorite condo complexes on Siesta Key. The great thing about Terrace East are the gorgeous water and beach views, convenience to Siesta Key village and Siesta Key beach within about a 100 feet. You can park here and rarely have to get in the car. Need a meal? You can walk down to Daquiri Deck, Gilligans or the Broken Egg. Everyone is in the village seems relaxed and having a good time.

Terrace East condos has 46 condos that were constructed in 1973. Many of the units have been remodeled. As of October 2009 the price ranges of condos for sale range from $649,000 to $995,000. You also won't find a bunch of renters in the Terrace East condos. They don't allow short term rentals in the building.

If I can help you buy or sell a Siesta Key condo give me a call at 941.812.6272

Take a look at this stunning Bird Key home for sale. This 2002 built home has 4 bedrooms, 5 bathrooms and 6,735 square feet. The water and city views from this home are gorgeous.

429 Meadow Lark Drive, Sarasota, Florida

If you are used to the best, this is your home. The wide curved driveway leads to your dreams. Enter through hand crafted doors of solid wood with charming speakeasies and discover this gorgeous residence flooded with daylight, luxurious amenities and views of Sarasota's incredible bayfront and skyline. Richly designed Saturnia marble flooring, cherry wood flooring, and stone columns adorn this unique custom residence with casual elegance. Tastefully appointed features are everywhere. Custom lighting, two gas fireplaces, an elevator, infinity pool with spa, boat dock with two lifts and melodious outdoor fountains. A graceful stairway leads to the billiard room, wet bar, custom home theater, music library and guest suites. Entertain with panache. The fa bulous kitchen includes granite counters, walk-in pantry, Sub-Zero refrigerator, Sub-Zero wine refrigerator, two Sub-Zero refrigerator drawers, Dacor double convection wall ovens, 6-burner Dacor gas range, warming drawer, two Bosch dishwashers and more to discover.

If you would like to view 429 Meadow Lark Drive, Sarasota, Florida give me a call at 941.812.6272.