Sarasota real estate “experts” love throwing numbers around – especially increased home sales – however, the silence is deafening when asked about continued layoffs and failing businesses.
Sarasota STILL (is) paradise...and (eventually) will heal!
Good news is good news.
For Sarasota real estate, sales are up and we’re happy to see distressed property sales reducing compared to non-distressed sales.
HOWEVER (and this is a big however capable of silencing any unusual cheering):
- Median home price continues dropping!
- Shadow inventory continues building up – in my own neighborhood, we have 6 “shadow” properties sitting and rotting. Oh yeah, home preservation “cuts” grass (now weeds) but you barely can see the front of these houses from the street. Once lush landscaping is gone….
- Commercial vacancies are soaring to record highs: Sarasota and Manatee 19.15% Sarasota county 13.74% Downtown Sarasota 21.94% Manatee county 32.60% Downtown Bradenton *Existing Buildings SOURCES: Real Estate Oversight Committee of the EDC of Sarasota County, December 2009, and Manatee Office Vacancy Exchange, January 2010.
- Unemployment (as most accurately reported by www.BIZ941.com (magaZine & website) is more like 20% (differs greatly from state and national unemployment reports).
Click Read More below now for Sarasota-Bradenton’s fight to put the pieces of this beautiful area back together. Many families’ lives are torn apart. From Longboat Key to Manasota Key and every where in between, times are challenging for LOTS of people.
SURVIVING TOUGH TIMES
What I find disappointing about MLS numbers and (some) real estate “experts” and prognosticators is that they take the numbers at face value, as if they’re afraid to discuss market reality.
On the surface, sales numbers (going up) look GREAT. Behind the curtain, there’s more to the numbers…in some areas and in some instances.
- Who’s buying most Sarasota homes for sale? Is it investors and foreigners?
- How is this “good” for Sarasota’s local economy? I mean no disrespect to investors and foreign buyers. I work with both. Foreigners contribute greatly to local economies but they don’t live here year-round. Investors look to RENT to people losing their homes. Increased sales is good news, but it’s not the whole story!
In Sarasota, unemployment continues driving DOWN the local economy.
Personal tragedy one family at a time…
My wife, kids and I have lost many good friends in the last 2 years — they’ve moved away. Their parents lost their jobs and they did what they had to do.
At my son’s grade school, enrollment is DOWN over 100 students…100 students.
Schools don’t lose kids when parents change jobs within Sarasota. With school choice at many Sarasota schools, kids can keep their schools. Schools lose kids when parents move out of the area in search of work.
I want to increase my real estate business just as every other realtor wants to do. I’m not trying to sabotage my business with market reality. Reality is, these are scary times for many people. Few benefit by neglecting, dismissing, overlooking, diluting or singling out market numbers not telling the whole story. Chances are, you have something to say. Take a moment, scroll down this page & share your thoughts, questions & comments.
If you or someone you know wants to buy a house in or around Sarasota, please call me.
Sarasota real estate numbers show increased sales, suggesting the market and economy (as a whole) are recovering. Truth couldn’t be farther from the increased sales numbers…just ask anybody walking down Main Street. You see, “real” people don’t need real estate agents, newspapers and/or Chamber “happy talk” to know the truth. The truth is what people living in Sarasota-Bradenton wake up to every morning.
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