November 2010 saw resurgence in the Sarasota real estate market , with more sales and higher median sale prices indicating a healthy seasonal boost. There were 534 total sales reported last month, compared to 487 in October 2010 and 553 in November 2009. The median sale price for single family homes rose to $160,100, from last month's figure of $147,500, and for condos the price stood at $159,000 - slightly higher than the October 2010 figure of $158,525. The stability in the median sale prices shows signs of improvement.Overall sales rose by 9.7 percent in November 2010 compared to last month, but about 7 percent lower than last November, when the $8,000 homebuyer tax credit buoyed sales as the initial period was due to expire. Looking at the most recent five months, there has been a fairly steady trend in sales and prices, a sign of recovery.Pending sales were also strong in November 2010, and at 764 were very near the total in November 2009 (793), when the market was strength...

WASHINGTON – Dec. 2, 2010 – Pending home sales jumped 10.4 percent in October, showing another positive uptrend since bottoming in June, according to the National Association of Realtors® . The Pending Home Sales Index (PHSI), a forward-looking indicator, rose to 89.3 based on contracts signed in October from 80.9 in September. The index remains 20.5 percent below a surge to a cyclical peak of 112.4 in October 2009, which was the highest level since May 2006 when it hit 112.6. The latest surge also reflects market strength, since buyers had an additional push to close quickly in October 2009 to qualify for one version of the first-time homebuyer tax credit that expired in November. The data reflects contracts and not closings, which normally occur with a lag time of one or two months. The data also surprised economists who had expected a decline in pending home sales given current troubles within the housing market . However, Lawrence Yun, NAR chief economist, says excell...

Pending sales spiked by 10 percent in October 2010 in the Sarasota real estate market , signaling more closings in future months as the season begins in southwest Florida . There were 819 total pending sales reported last month, compared to 744 in September 2010 and 839 in October 2009. Pending sales reflect future closing activity and they are now trending upward sales dropped by 11 percent in October 2010 compared to last month, and 15 percent from last year at this time. The drop is likely attributable to a slowdown in foreclosures prompted by lender concerns over faulty paperwork. Looking at the most recent four months, there has been a fairly steady trend in sales and prices, indicating a stabilizing of the market following more fluctuations earlier in the year.Property sales in October 2010 stood at 487 total sales, compared to 547 September sales and 574 sales in September 2009. The breakdown was 351 single family home sales and 136 condos .The median sale price for single fa...

Consumer confidence and business spending are key to whether the U.S. housing market will move into a virtuous or a vicious cycle in 2011, NAR Chief Economist Lawrence Yun told a packed audience at the Residential Economic Outlook Forum Friday in New Orleans . After the downturn, the housing market has clawed its way back to a point of near stability, Yun said, with the pace of new foreclosures easing, sales moving toward historically normal levels and prices on a national basis gaining modestly. At the same time, affordability remains strong. He said all of the price excesses from the housing bubble have been squeezed out. In San Diego , for example, buyers today would pay $1,564 a month in mortgage payments for a house that at the height of the boom would have cost them $2,833 a month. The broader economy is also showing positive signs, with businesses enjoying strong profits, sitting on huge cash reserves, and even adding jobs. Yun predicts this positive trend to continue into...

Nov. 11, 2010 – Sales of existing condominiums in Florida rose 15 percent in third quarter 2010 compared to the same period a year earlier, according to the latest housing statistics from Florida Realtors®. A total of 16,938 existing condos sold statewide in 3Q 2010; during the same period the year before, a total of 14,793 units changed hands. Fourteen of Florida’s metropolitan statistical areas (MSAs) reported higher existing condo sales in the third quarter, according to Florida Realtors. The statewide existing-condo median sales price was $84,000 for the three-month period; in 3Q 2009, it was $106,000 for a decrease of 21 percent. “A healthy housing market is built on the foundation of a robust economy,” said Dr. Sean Snaith, director of the University of Central Florida’s Institute for Economic Competitiveness. “As the economic recovery continues in Florida – and in particular as the labor market improves – the housing market will follow suit. The price decline in the condo ma...

Image via Wikipedia Chaim Gleitmann Earns CIPS Designation On November 3, 2010, in Residential Real Estate , Sarasota County , by Press Release .0 ... SARASOTA, FL – Chaim Gleitmann of Xena Vallone Realty has earned the Certified International Property Specialist (CIPS) designation, awarded by the National Association of REALTORS® . Only 2000 real estate professionals throughout the world have achieved this distinction. Gleitmann also holds the Short Sales and Foreclosure Resources ( SFR ) certification, and the Transnational Referral Certification (TRC). The CIPS designation indicates expertise in working with international clients, as well as serving the growing multicultural population in the United States . It recognizes members who have achieved the necessary training and experience to work successfully with international clients and properties. Designees must complete rigorous coursework, master international business practices, and demonstrate achievement in international ...

WASHINGTON – Nov. 1, 2010 – The financial crisis and ensuing recession apparently changed the mindset of Americans toward their homes, turning what long has been the American Dream into just another financial investment. The result, strategic defaults – people walking away from the property and mortgages not because they have to, but because they can. The key consideration is time, said Jon Maddux , of YouWalkAway.com, which helps people turn their properties back to their banks. Some experts estimate nearly a third of all mortgage defaults – 31 percent – are of the strategic variety. RealtyTrac reported 2 million foreclosures in September and said one in 371 housing units received a foreclosure notice. Easy mortgages made people glorified renters rather than proud homeowners, with no emotional or financial ties. “People who made the decision to buy at the wrong time got stuck in a house that may not recover (its value) for 10 to 15 years. Does it make sense to keep it as an asse...

ORLANDO, Fla. – Oct. 25, 2010 – Sales of existing condominiums in Florida rose 10 percent in September, with a total of 5,675 condos sold statewide compared to 5,140 units sold in September 2009, according to the latest housing data released by Florida Realtors®. Ten of Florida’s metropolitan statistical areas (MSAs) reported higher existing condo sales in September. The statewide existing condo median sales price last month was $83,400; in September 2009 it was $102,300 for an 18 percent decrease. However, September’s statewide existing condo median price was 2.2 percent higher than the statewide existing condo median of $81,600 in August. The national median existing condo price was $174,000 in August, according to the National Association of Realtors® (NAR). Meanwhile, in the year-to-year comparison for existing home sales, a total of 13,536 single-family existing homes sold statewide last month compared to 14,781 homes sold in September 2009 for a decrease of 8 percent. Flo...

Foreclosure procedures undergo reviews WASHINGTON – Oct. 18, 2010 – Recent revelations about mortgage lenders filing possibly faulty court papers to foreclose on homes has sparked a public outcry and called into question tens of thousands of foreclosures. Here’s a look at the issue and its impact. Q: How did this come to light? A: Lawyers for homeowners fighting foreclosures took depositions from officials who prepare legal documents to get court approval to foreclose. The document signers – who have now been dubbed robo-signers – said they signed thousands of affidavits without reviewing the supporting papers or having the affidavits signed in the presence of a notary. Both are supposed to be done before foreclosure papers are submitted to courts in about 23 states that require judicial approval for all or most foreclosures. Some lawyers allege there were instances of fraud, too, including backdated documents and forged s...

Image via Wikipedia ORLANDO, Fla. – Sept. 23, 2010 – Sales of existing homes in Florida rose 1 percent in August, with a total of 13,997 homes sold statewide compared to 13,908 homes sold in August 2009, according to the latest housing data released by Florida Realtors®. Statewide existing home sales in August increased 3 percent over statewide sales activity in July. Ten of Florida’s metropolitan statistical areas (MSAs) reported higher existing home sales last month, while 13 MSAs posted increased existing condo sales. Florida’s median sales price for existing homes last month was $134,000; a year ago, it was $146,500 for a decrease of 9 percent. The median is the midpoint; half the homes sold for more, half for less. The national median sales price for existing single-family homes in July 2010 was $183,400, up 0.9 percent from a year earlier, according to the National Association of Realtors® (NAR). In Massachusetts , the statewide median resales price was $333,000 i...

August property sales up; prices remain stable The Sarasota real estate market rebounded in August 2010 after an expected slower July, following the expiration of the federal $8,000 homebuyer incentive. Sales were up 8 percent over July 2010, and up 14.3 percent over August 2009. Property sales in August 2010 stood at 567 total sales. This compared to 525 sales in July 2010 and 496 sales in August 2009. There were 408 single family home sales in August, with the median price at $154,500, almost identical to last month's figure of $155,000. The median price was also $155,000 in August 2009, and has been steady throughout the last 12 months ($161,000), fluctuating between a high of $170,000 and a low of $150,000. Condos saw 159 sales in August, with the median price rising by 22 percent to $155,000 from last month's figure of $127,000.  For the last 12 months combined, the median sale price for condos was $169,900. Distressed condo sales have dragged the overall median price...

WASHINGTON – Sept. 2, 2010 – Following a sharp drop in the months immediately after expiration of the homebuyer tax credit, pending home sales have modestly risen, according to the National Association of Realtors® (NAR). The Pending Home Sales Index (PHSI), a forward-looking indicator, rose 5.2 percent to 79.4 based on contracts signed in July from a downwardly revised 75.5 in June; it’s 19.1 percent below July 2009 when it was 98.1. Pending sales data reflects contracts and not closings, which normally occur with a lag time of one or two months. “Home sales will remain soft in the months ahead, but improved affordability conditions should help with a recovery,” says Lawrence Yun, NAR chief economist. “But the recovery looks to be a long process. Homebuyers over the past year got a great deal, and buyers for the balance of this year have an edge over sellers. For those who bought at or near the peak several years ago, particularly in markets experiencing big bubbles, i...

Existing-home sales were sharply lower in July following expiration of the home buyer tax credit but home prices continued to gain, according to the National Association of EALTORS® www.realtor.org , which are completed transactions that include single-family, townhomes, condominiums , and co-ops, dropped 27.2 percent to a seasonally adjusted annual rate of 3.83 million units in July from a downwardly revised 5.26 million in June, and are 25.5 percent below the 5.14 million-unit level in July 2009. Sales are at the lowest level since the total existing-home sales series launched in 1999, and single family sales – accounting for the bulk of transactions – are at the lowest level since May of 1995.www.realtor.org/research/chief_economist Lawrence Yun,NAR chief economist, said a soft sales pace likely will continue for a few additional months. “Consumers rationally jumped into the market before the deadline for the home buyer tax credit expired. Since May, after the deadline...

Three Reasons to Buy a Home Now Stocks are up 50 percent from the March 2009 bottom. Some commodities have risen dramatically. The only asset class left in the cellar is real estate , says Michael Murphy, editor of the New World Investor stock newsletter. As a result, Murphy is advising investors to buy now for these three reasons: • Desperate sellers: Both home owners and lenders are eager to unload a flood of foreclosed and underwater properties. Buyers with the patience to push through these complex deals can save a bundle. • Little competition. Because most people don’t have what it takes to negotiate their way through short sales and REOs, patient investors are winners. • Low rates. Mortgage rates are at their lowest level in 40 years. If you believe inflation is inevitable, lock in now. Source: MarketWatch , Michael Murphy (08/19/2010) For information about the Sarasota Real Estate Market , visit PremiumPropertiesSarasota

ORLANDO, Fla. – Aug. 11, 2010 – Sales of existing single-family homes in Florida rose 21 percent in second quarter 2010 compared to the same period a year earlier, according to the latest housing statistics from Florida Realtors®. A total of 51,564 existing homes sold statewide in 2Q 2010; during the same period the year before, a total of 42,604 existing homes sold. It marks the eighth consecutive quarter that Florida has seen higher existing year-to-year home sales, according to the state association. Statewide sales of existing condominiums in the second quarter rose 45 percent compared to the same time the previous year. This marks the seventh consecutive quarter for increased statewide sales in both the existing home and condo markets compared to year-ago levels. Statewide sales activity in 2Q 2010 also increased over 1Q 2010’s sales figure in both the existing home and existing condo markets, Florida Realtors’ records show. For 2Q 2010, statewide sales of existing homes ro...

Xena Vallone Realty Moves to Expanded Offices SARASOTA, FL – One year after defying the housing-market collapse and opening a real estate brokerage firm, Xena and David Vallone of Xena Vallone Realty have signed a lease for expanded quarters at 3562-A S. Osprey Avenue in Sarasota. The new office, scheduled to open in August, nearly doubles the firm’s existing square footage and offers room to grow for an expanding staff. We launched our company during one of the worst real estate markets on record with the belief that there would be a re-emergence of ‘the little guy,’” remembers Xena Vallone. “One year later, that premise has proved true. Real estate professionals must now work harder, and transactions are a lot more difficult, but that’s what the market needs.” The new office, located near the intersection of Osprey Avenue and Siesta Drive in an established West of Trail community, reflects the neighborly feel and focus of the boutique firm. Xena Vallone Realty now has seven ass...

Property sales again reach highest level of the year in Sarasota real estate market The Sarasota real estate market remained active and vibrant in June 2010, in spite of the loss of the federal home buyer tax credits, oil crisis rumors, and the sluggish national economy. Property sales in June 2010 in the Sarasota market once again topped the 700 mark, with 776 total sales - once again the highest of the year and the highest total since December 2005 when 784 properties were sold. The figure of 776 sales topped the May 2010 total of 766, the previous high, and was 27.2 percent higher than June 2009, when only 610 homes and condos sold. In June, 576 single family homes were sold, 28.3 percent higher than June 2009, when only 449 single family homes sold.  The median price was also trending higher at $175,000, the highest figure in 11 months.  Not since June 2009 has the market seen single family home values this high. Condo sales in June were 200, a 24.2 percent increase...

Reports show that Sarasota Florida is the best buy in the Western World ! The report, published today in www.GlobalEdge.co.uk ranks popular resort and second home locations around the world reveals the cheapest western holiday home destination is Sarasota, Florida , which is little surprise given how much the market has fallen over the past two years and the number of agents currently selling distressed property to foreigners in the sunshine state. Among the surprises: Apartments in Warsaw , Poland are selling for higher prices than Dubai . Manhattan and Paris are running neck in neck, but Moscow makes them both look cheap. Little wonder that the Russians are on an international buying spree, with Hong Kong residents close behind them. With China now officially the hottest residential market in the world, US properties are practically an impulse buy. International estate agency group Savills has published a list of best-value destinations in 35 countries across the globe...

Vacation on Longboat Key year round or seasonally Overview Maps Photos Features Description $1,550 Residential Rental For Sale Main Features 2 Bedrooms 2 Bathrooms Interior: 1409 sqft Location 1050  LONGBOAT CLUB RD Longboat Key, FL 34228 To get updates on open home dates and other property events, please click the "Like" button below: Chaim Gleitmann Xena Vallone Realty (941) 312-1214 chaimgleitmann@aol.com http://www.premiumpropertiessarasota.com/ Listed by: Xena Vallone Realty See more Longboat Key, FL real estate for sale

Premium Properties Sarasota: SAR Monthly Statistics Released for May 2010 - Sales Again At Highest Level in Almost Five Years!

Sarasota real estate market at highest level since 2005 Property sales in May 2010 in the Sarasota market once again hit the highest total since 2005 and median sale prices continued the steady pace observed in recent months. The 766 sales were the highest for the year, topping the April 2010 total of 757, and were the highest total since December 2005, and 51.3 percent higher than the May 2009 total of 506 sales. Pending sales were once again strong, hitting 857, but were slower than April 2010. The March and April pending sales figures both topped 1,000, and reflected a last minute rush to beat the federal homebuyer tax credit deadline. "The May 2010 statistics continued to show that the Sarasota real estate market is continuing a steady recovery," said 2010 SAR President Erick Shumway. "We saw a slight dip in the pending sales, which will likely be reflected in the sales numbers over the next 30 to 60 days. But median sale prices are higher...

Walking away from a mortgage you can still afford to pay has consequences; everyone knows that. Your credit score is shot and it can be impossible to get credit.Some homeowners, no doubt, believe that the credit score hit is worth getting out from a deeply underwater mortgage. They may owe, say, $500,000 when their house value is only valued at $350,000. And, they figure, there's no way it will ever be worth what they owe so it's better to get out from underneath the burden. After default, they reason, they can raise their FICO scores by paying all their bills on time and eventually finance another home purchase. Don't count on it. While homeowners who default due to economic hardship, such as a job loss or divorce, normally must wait two to five years before buying a home again, walkaways may face double that time. "It could be well over seven or eight years before [walkaways] are able to obtain a mortgage to buy a home again," said Jay Brink...