Siesta Key ranks # 3 in Nation

Siesta Public Beach jumped from 10th to 3rd in his national rankings this year.

TOP 10 BEACHES

1. Caladesi Island Clearwater

2. Hanalei Beach Kauai, Hawaii

3. Siesta Beach Sarasota

4. Coopers Beach Southampton, N.Y.

5. Coronado Beach San Diego, Calif.

6. Main Beach East Hampton, N.Y.

7. Hamoa Beach, Maui, Hawaii

8. Cape Hatteras Outer Banks, N.C.

9. Cape Florida Key Biscayne

10. Beachwalker Park Kiawah Island, S.C

Says who ???

'Dr. Beach' That's who......

AKA Stephen Leatherman, a coastal science professor at Florida International University in Miami.

Each year, with clipboard in hand, Leatherman visits beaches from Maine to California and Hawaii. He rates them on 50 categories, everything from water quality and recreational opportunities to cleanliness and parking, then compiles his top 10.

"It's the lighter side of my research, but people like to see the list every year," Leatherman said. "I think it's a reward for good management."

This year, Caladesi Island State Park near Clearwater was ranked No. 1. Hanalei Beach in Kauai, Hawaii, was No. 2. And Siesta Public Beach in Sarasota was No. 3.

In 2005, Fort DeSoto Park in Pinellas County was ranked No. 1 by Leatherman. Rangers there still get calls from tourists who want to visit the top-ranked beach in the nation.

Caladesi Island will earn headlines this year, but the rankings are still good news for Siesta Public Beach.

"In the next three days, it will really snowball," said Erin Duggan, public relations director for the Sarasota Convention and Visitors Bureau. "I've already gotten a call from the L.A. Times."

Dr. Beach did not cite one thing in his Siesta ranking, but Duggan could think of a significant change in the last year.

"Quite frankly, I think it had a lot to do with Sarasota County banning smoking at the beach," she said. "Without butts on the beach, it's a healthier beach."

Leatherman said he first saw Siesta Public Beach 16 years ago, when he was at the University of Maryland. Now that he lives in Miami, with friends in Sarasota, he visits several times a year.

The fine white sand of Siesta always makes an impression, but that is not the only draw.

"It's an incredibly wide beach," Leatherman said. "Lots of space, pretty good parking. You've got shade and recreation areas, barbecue pits. It really puts everything together."

May 23, 2008
SAR monthly stats report for April 2008

*The following press release was sent to local media on May 23 at 11:30 a.m.


Sarasota market hits highest sales figure since June 2007

Home sales in the Sarasota MLS for April 2008 stood at 567 - the highest level in 10 months, and approximately 72 percent higher than the sales in January 2008. In 2008, sales have been progressively stronger month by month, possibly due to the influence of the new property tax portability law adopted in late January. Sales have climbed from 329 in January to 423 in February, then 514 in March.


Bucking the trend of dropping median sales prices for single family homes, April also saw the median sale price rise to $285,000 from $266,750 in March - about a 7 percent increase.


Condominium sales prices have shown a decline of about 8 percent since the first of the year, but they are also beginning to trend upward and have remained at relatively high levels for the Sarasota market. The median sale price for a condominium stood at $277,000 in April, about 18 percent higher than the $235,000 median sale price in March, but roughly 8 percent off the 2008 peak of $303,500 in January.

"We are very fortunate to live in a beautiful, vibrant community, with world-class culture and amenities," said Helen Sosso, 2008 SAR President. "These obvious factors continue to enhance the value of local properties, and we are seeing this reflected in our stronger sales figures. In addition, it appears we are beginning to see the effects of the recent state legislation which made it easier for families to upsize or downsize, without such a dramatic impact on their property taxes. Portability will likely continue to be a factor as we move forward in 2008."


The April 2008 report continued to reflect strength in pending sales, which stood at 765 - the highest level in the past year. In April 2007 pending sales were at only 609. Pending sales have been edging upward since December 2007, when there were only 374 pending sales reported. Pending sales reflect contracts executed by buyers and sellers, and indicate more closings in upcoming months and an improving market in the early summer months.

Inventory levels were lower in April 2008 at 9,830 single family homes, compared to 10,443 in April 2007. Condominium levels also decreased from the April 2007 level of 6,344 to 5,608 in April 2008. Lower inventory normally means a tighter selling market, which tends to put upward pressure on prices over time.


Declining inventory is one of the indicators that a market is beginning to return to a more normal, balanced state. In fact, the Sarasota MLS statistics reveal a lower level of new listings on the market, combined with higher unit sales, which means the inventory is declining for two reasons and should more quickly reach a healthy equilibrium.


The days on market, which translates to the average time it took to sell a property, was at 166 days for single family homes in April 2008, slightly higher than the 158 days in March 2008. The figure has been steadily in the 158 to 160 range throughout the year. Average days on the market for condos was at 189 in April 2008, lower than the 192 figure in March 2008, and much lower than the 203 days reported in February 2008. The days on market reflects the pace of sales.

In general, the Sarasota MLS statistics show a rebound throughout 2008 - every month seeing stronger numbers than the month before.
In an article in the Wall Street Journal last month by Cyril Moulle-Berteaux, a managing partner of Traxis Partners LP, a hedge fund firm based in New York, the author puts together a thought provoking piece headlined "The Housing Crisis Is Over."


In the article, he defined the basic elements of the housing boom, and the historic trends that follow such a boom and return to normalcy. He concludes that the national housing market is bottoming out right now, and says the return of affordability to the market makes a recovery an almost certainty.


He predicts the nationwide home inventory will drop significantly by the end of 2008, and this shift will begin to be reflected in prices.
In the local Sarasota market, we have seen the trend already beginning toward lower inventories, higher sales, and a leveling of prices after a few months of declines. The April figures reflect this new reality.




Sarasota Association of REALTORS®

Our April Newsletter

“No one wants to catch a falling knife.”

As we drove around looking at property, this was the philosophy one Canadian shared with me regarding
his take on the average buyer. “Once it clangs on the floor, everyone will know it has hit bottom and then everyone
will scramble to buy." His own strategy was different. He was not about to wait. Even though he was unsure if
further price declines were to come, he had a fantastic selection of homes to choose from and he knew he was
getting a great price not seen since 2003. He bought. But there is another potent case for buying now.
Finance costs will rise as the economy recovers, so trying to time real estate might not pay off.
Consider this example. A $500,000 Siesta Key condo purchased today, with 20% down, leaves $400,000
financed at about 6% over 30 years. That's a monthly P&I payment of $2,398. If prices drop an additional 10%, the
cost of this condo next year is $450,000. But when the recession ends and the Fed starts to raise rates to say,
7.5%, your monthly payment would be $2,517. If you waited a year to buy, you would have saved nothing and
spent one less year in your beach side condo.
When prices are falling, few people have the discipline to buy stocks, a house, art or any other asset. But
those who do pull the trigger excel in the long run.

What's with all those headlines ?

Considering all of the negative press the housing market received in late 2007, it's more important than
ever for people to separate fact from fiction when deciding on a time to buy or sell a home. The fact is, we were
due for, and are now experiencing, a natural cyclical correction. The recent "housing boom" which lasted from 2001
until 2005, was caused by low interest rates and a rapid increase in property valuations. This combination
prompted a high sense of urgency in home buying and selling. Poor lending practices, which caused many home
buyers to secure loans that they ultimately couldn't afford, also fueled the fire. Finally, and possibly the biggest
culprit here locally, speculative purchases of homes by investors hoping for a quick return on investment took us
over the top.
But are these problems so deep that recovery is years away ? Actual facts and history say no.
Let's start with lending practices. Unlike the media's portrayal, the reality is that subprime loans comprise
only 9% of total loans nationwide and of those 9%, less than 11% of those subprime ARM and fixed borrowers
have defaulted on their loans. Problematic, yes. Of epidemic proportions, no.
As for speculators, like the dot-com bust, the housing market has begun to correct itself after a number of
years of unwise purchasing. But unlike what the media would have us believe, a correction in the housing market
doesn't equate to a crash. The ongoing negative news about the most troubled areas in the U.S. has caused a
ripple effect, with home buyers and sellers on a national level exercising caution before making a decision.
What we are seeing now is a repeat of a housing cycle we've seen before. In the early 1980's and 1990's
some areas of the country experienced the worst downturn they had seen in the last 25 years. It was caused by
localized economic weaknesses and a loss of jobs. But on a nationwide average others, like the Pacific Northwest,
were barely affected at all. Even those areas hit the hardest in the past experienced a historic uptick in prices, and
then a continuing long term appreciation trend followed.
It is our belief that we in Sarasota are actually positioned quite nicely. According to the latest statistics -
issued the last week of March by FAR - Sarasota-Manatee once again outsold such mega-markets as Miami and
Ft. Lauderdale, building on a solid trend that held throughout every month of 2007 and continues thus far into
2008. We simply need our inventory of homes and condos to decline to more acceptable levels.
The avalanche of east coast baby boomers on the horizon may well be the cure for our local recovery.

Lawmakers will look at more tax cuts in 2008.

On January 29, 2008 Florida Voters approved Amendment 1, which made significant changes to the Florida
Constitution regarding property tax laws. These include an additional $25,000 Homestead exemption, and
portability of the Save Our Homes benefit. (Although too detailed for this newsletter, feel free to e-mail us for a 3
page recap of the specifics of all changes.) Governor Charlie Crist, top lawmakers and other backers promised it
would be just the start of property tax relief. Let's hope so. For non-homesteaded owners the government put a
modest 10 percent cap on annual assessment increases. That's not enough to satisfy out of state owners who saw
their tax bills increase the most due to sharp rises in property values in recent years. The Sarasota Association of
Realtors (and all similar associations in Florida) will continue to press for true relief for the second home/vacation
type owner. It will happen. We will keep you updated.

Patrick Doherty, Joe James, Michael James, Maureen James Doherty
April 2008
Michael, Joe, Maureen & Patrick
James Brothers Real Estate Team
Realtors
info@jamesbrothers.com
www.JamesBrothers.com
(your on-line resource)
Local: 941-993-6443
Toll free: 1-888-755-2637

Longboat Key Club Announces $500 Million Expansion

Owners of The Longboat Key Club and Resort announced yesterday that they have plans to invest $500 million into an expansion of its current facilities, including an 18-hole golf course designed by world-renowned Rees Jones. The addition of 222 new hotel rooms, 261 new condominium residences, luxury waterfront villa residences, a wellness center and a country club complex enhance the resort's luxury appeal and potential for a five-star rating.
The mixed-use resort will showcase the modern designs inspired by Sarasota School of Architecture and more native trees, preserving Longboat Club Road's live oaks, will enhance the property's natural beauty.
According to economist Hank Fishkind, the development plan contains serious economic ramifications for the community, including an estimated 600 jobs, an increase of $60 million expected in total impact to Longboat Key per year, a 7-12% home value market appreciation and a cumulative net of $1.4M operating surplus for the Town of Longboat Key and $24 million in fiscal surplus. “The upside of the project to homeowner values is one of the considerations,” says Longboat Key Club general manager Michael Welly. “Our neighbors will benefit from that. If we don’t do a project and the club continues to mature, at some point property values start to go down.” The four phase project aims for a completion date around 2014.

Sarasota Boating Real Estate

The Boat yard consists of 21 units on the mainland just before you go over the Stickney Bridge to Siesta Key. For Boaters this location is convenient with no bridges to the Bay and you can be close to Siesta Key without being on it.....No bridge traffic.
Walk to Coasters.
It is all about location.
These condos come with a boat dock. They all have garages. It is gated with a pool .
They are beautifully updated and decorated to the max.....they come furnished.
If you are a boater looking for mainland .....check out our web site to view these listings in the Boatyard. www.jamesbrothers.com
Go to our features listings.
And if you are not a boater...the units are available without the dock for a discounted price.

There are home deals on the waterfront

The one thing that some buyers are not getting is the fact that if they really want a property but don't like the list price they can always make an offer.
We are seeing so many properties go to contract with the sellers conceding to the buyers offers.
If you want to learn more we suggest you call us at 1888-755-2637 or locally at 941-993-6443
Don't miss out on a wonderful opportunity.
SARASOTA'S real estate market is unique and has been rated the best in all of Florida for real estate sales ! If you live by the news you might lose out....in our market anyway.
.....find out more............contact us..........

Our web site is an excellent way to view homes or condos for sale.

http://www.jamesbrothers.com/

Siesta Key

Family visitors !!

Casey Key Gulf to Bay

Key West Style Residence
This is one of the largest Gulf-to-Bay properties on Casey Key. A fabulous piece of property with approximately 3 acres from the Gulf of Mexico waters with wide beach to the deep boating waters at the dock on the bay. Large bayside parcel leaves a number of options to a new owners for guest house, tennis court, etc. The Key West style residence of 3500+ square feet was built around 1990, and features a fabulous great room with towering ceilings at its center. There are 3 bedrooms or 2 bedrooms and a den, dependent upon how a new owner may choose. There is an elevator from the ground level parking (for up to 4 cars) to the second living floor above. Gorgeous porches on both the Gulf and Bay sides of the home.

There is a pool and a dock with 2 boat lifts on the bayside.
Offered at $5,985,000.

A steal on Golden Gate Point

2700 Sq. Ft. 3 bedrooms, 3 Baths , 2 car parking.

Hurrican slider windows.

Incredible bay views leading all the way to the Gulf of Mexico in the distance. The best views you'll ever see! Total excellence in this spectacular penthouse. New everything and all top of the line. Listed at $ 1,100,000

Ultimate Gulf to Bay Estate, 16,500 sq. ft. , 8/10 bedrooms and 9 full baths.

Gulf or Bay views from all rooms, privacy and perfection. Luxury master suite with his and her baths, gourmet kitchen with dual cooking centers, 4 fireplaces, billiard room, gym with indoor lap pool, wine room, tennis court, generator, staff quarters, putting green, covered boat house and 2 bedroom pool house.

Call for more information.

1888-755-2637 or 941-993-6443

Sunset over the Ringling bridge

Day aftere day, as we walk, jog, bike, roller blade or drive over the Ringling bridge to St. Armand's circle and Lido Beach at sunset. it is easy to take for granted this wonderful gold ball setting over the Sarasota Bay.

When a visitor reminds us of how fortunate we are to live in Sarasota we can't help but smile and feel proud.

Sold in 1 Week for $5,330,000

This bayfront home in Harbor Acres, Sarasota was listed through Michael Saunders & Company and went under contract within 1 week. It recently closed and the buyer was also represented by a Michael Saunders agent.

Sales such as these demonstrate the resiliency of our market and the continued strength of our company.

The Return of Affordable Waterfront!

Recent market corrections make waterfront living affordable again. if you were squeezed out of the market by double digit appreciation throughout the past decade, you can take heart in knowing that you can now own a canal front home in Sarasota for well under $500,000. Even Longboat Key has older homes on excellent deep water priced in the $600s. Siesta Key also offers great choices. With the help of an experienced Realtor, now is an excellent time to take a fresh look at waterfront living.
- Michael James

Bayfront in Harbour Acres

Magnificent Bayfront estate on large .85 acre lot located in sought-after Harbor Acres. Panoramic northwesterly views towards downtown and the Ringling Bridge. 2 boat docks. Traditional style home exudes warmth & southern charm, lovingly renovated by current owner. Country French gourmet kitchen by "Kitchens by Design," granite counters, paneled library & FR with extensive built-ins. Private elevator. Extensive use of crown molding, Waterford light fixtures. Wood floors and spacious master suite. Conveniently located just minutes to shops, restaurants, beaches, and hospital.

The White Sands of award winning Siesta Key

Beautiful Natural Manasota key

This is the view from a Gulf front Beach home on Manasota key in Sarasota County.
It is listed at $ 1,750,000.
A real value and the lowest priced Gulf / beach front home from Longboat key down to Manasota Key.
Call me direct for the details on this opportunity !
941-993-6443 or 888-755-2637

Waterfront living in Riviera Dunes on the Manatee River

This 288-acre residential and retail community is located on the shores of the Manantee River minutes from the Gulf of Mexico
with its own deep water marina.

It is close to Gulf beaches and the shopping/entertainment district of St. Petersburg and downtown Sarasota.

The Waterfront residential opportunities are diverse, impressive and affordable.

They include singe family homes, townhomes, the luxury condos of Bel Mare and the more casual condos of Laguna.

Residents enjoy a maintenance-free lifestyle with a resort like setting.
Amenties include Tennis courts, lap pool, Fintness Center, Bocce & Croquet Court, Pitch & Putt, Vollyball, a pet Park, Nature and fitness paths, private beach on the 9 acre freshwater lake.

The new marina restaurant at Riviera Dunes, Mangrove Grill & Bar, is the third from award-winning chef Sean Murphy.

This is just the beginning. A mixed-use retail/residential village is poised on the drawing board.

For pricing and more info call 1-888-755-2637 or local 993-6443.

Sarasota County Beaches

[SRQ NEWS]
Four County Beaches Awarded National Blue Wave Certification .......
Siesta, Lido, Venice and Caspersen beaches were all recognized by the national Clean Beaches Council as Blue Wave Beaches for the 2007-2008 season because they meet rigorous standards for sustainable management of beach resources and amenities.
Among the criteria the council considers for certifying a site as a Blue Wave Beach are water quality, beach and inter-tidal conditions, habitat conservation, public information and education and erosion management.
Since 2003, Siesta and Venice beaches have been certified through the Blue Wave Campaign.
In 2004 Caspersen Beach was certified, followed by Lido Beach in 2005.

The National Healthy Beaches Campaign, administered by the Laboratory for Coastal Research at Florida International University, has also certified Siesta, Lido, Venice and Caspersen beaches.

Cocoanut Bayou Bayfront estate on Siesta Key

Live ,Work and Play in your very own tropical secluded paradise with just minutes to all of the conveniences of Siesta Key village and Downtown Sarasota !


This 1 plus acre estate on Siesta Key is back on the market with a new price of $ 3,300,000.
With the feel of a Costa Rican tropical rain forest this home offers open bayou/bay views , sailboat water and a boat dock.
The home is approx. 4600 sq ft, has 2 large professional offices, 3 gas fire places, lofty ceiling heights, large decks, pool, 3 car garage, a huge basement for storage, excersise room, games room ect., lots of privacy and Deeded Beach access.
This property is all about lifestyle with good value.

Siesta Key Farmers Market

SRQ TALK.........

"I want to have something that's got an old-school Siesta Key feel." --Siesta Key resident and business owner Bryan Eible. Eible is launching "Don't Panic. It's Organic," a Sunday-morning farmer's market in the Siesta Key Village.

Old School Siesta Has a Farmer's Market (With Organic Produce Here, and Natural Products There) It's getting harder and harder to think of an excuse for missing a local farmer's market, especially now that Siesta Key is going to host its own market on Sunday mornings.Foxy Lady owner Bryan Eible is spearheading the efforts to start a market in the Siesta Key Village area from 6 to 10am every Sunday with organic foods and natural products.Eible has the go-ahead from the Siesta Key Village Association, and he hopes to hold the first market in July. Eible, who grew up on Siesta, said he wants to bring the key back to its roots. "When I moved here, in 1972, Siesta Key was all about the environment and hippies. It was groovy," he said. "Now it's kind of turned into a bar scene. I want to give the locals a reason to come to the village."