July 19th, 2010
Manatee County has taken its first step to answer the demand for solar power in the wake of the ongoing Deepwater Horizon oil spill in the Gulf of Mexico.Solar energy now powers the Valentine House, the new guest center that opened May 1 at the county’s Robinson Preserve. One of the oldest houses in the county, the historic home has made history again, with 15 solar panels on five structures installed by Solaris Solar Energy of Sarasota bringing it into the 21st century. To avoid marring the look of the house by putting solar panels on the new metal roof, the company installed the panels on top of the kayak storage rack nearby, reinforcing them against high winds.
About 30 people came to learn about the solar system on Saturday morning, one commenting that solar energy just makes sense in the Sunshine State. The Valentine House had no electricity when it was built around 1886 at the entrance to the Manatee Fruit Co. citrus grove in Palmetto; it was cooled for free by breezes from Terra Ceia Bay. Later, an attic fan cooled the house, which was barged down the Manatee River to Robinson Preserve in 2007. Now, the air conditioning is free again, at least from Florida Power and Light bills. The panels produce so much electricity that if the FPL meter on the house was not digital, it would actually spin backwards, according to Solaris, resulting in a credit on the electric bill.While the return on the county’s investment in the solar panels will not be immediate – Solaris estimates about seven years for the unit to pay for itself – getting the first county building off the grid is compensation enough, said Charlie Hunsicker, the county’s natural resources director. “You can’t put a price on it,” he said.
Tags: Bradenton, Manatee County, Solar energy, Sunshine State, Valentine House
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July 16th, 2010
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 over June 2009, when 161 condos were sold. The median price of condos fell in June to $145,000, which primarily reflected distressed property sales. Non-distressed condo sales saw a median price of $236,000, while for distressed properties, the median sale price was $88,000, about a third. For the last 12 months combined, the median sale price for single family homes was $165,000. For condos, the median price over the last 12 months was $185,000.
Pending sales were once again strong, hitting 767 – slower than the period during which homebuyers were eligible for tax credits. 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. “With the expiration of the $8,000 tax credit we had anticipated a potential drop off in sales, but the level of pending sales still shows strength in the market,” said 2010 SAR President Erick Shumway. “The June figures are a testament to the strength of this market, and prove the old adage that all real estate is local. There are still a lot of serious buyers in our market, and we hope this very active period continues through the usually slower summer months.” The level of sales of distressed properties (foreclosures and short sales) rose slightly in June 2010 to 44.6 percent of the overall market, from 40 percent in May 2010. The distressed market topped 48 percent in late 2009. The property inventory level dropped below the 6,000 level in June 2010 at 5,993, which is the lowest level since late summer of 2005.
Another interesting statistic in June was the fact that in nearly every price range below $250,000, inventory levels have dropped below a six-month supply, entering “seller’s market” territory. This generally precedes a period when price appreciation should be expected. The months of inventory for single family homes in May 2010 dropped to 6.6 months, the number of months it would take to sell all available homes at the current pace. This was a significant drop from June 2009 – 10.0 months – and very near equilibrium. For condos, the figure rose slightly to 10.6 months, much lower than last June’s figure of 16.1 months. Once the market reaches the 6 month level it is considered to be in equilibrium between a buyers and sellers market.
Tags: federal home buyer tax credits, increase, national economy, Oil crisis, Sarasota
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July 16th, 2010
The Hamburg-based Condor Air will meet with Sarasota-Bradenton International Airport (SRQ) officials on Monday, July 19, to discuss the possibility of offering direct flights from Frankfurt to SRQ. And Engel & Völkers Longboat Key/Anna Maria Island president/broker Ray Alexander and agent Tina Rudek are working with local business leaders to show the airline that its business is welcome in the Sarasota area.
Alexander and Rudek are leading “Operation Condor” to rally local businesses from Anna Maria Island to Sarasota to provide value-incentive commitments to the airline and have joined forces with local development groups to devise a plan.
“The value incentive commitment may come in the form of including Condor Air in a promotional venue or some other value-related aspect that helps promote Condor’s service,” Rudek said in a prepared statement. “We’re not asking for a direct dollar contribution,” Rudek said that the proposed direct flights could have a $10 million impact on the Sarasota area.
Tags: Condor Airlines, Engel & Völkers Longboat Key/Anna Maria Island, Operation Condor, Ray Alexander, Sarasota-Bradenton International Airport (SRQ), Tina Rudek
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July 16th, 2010
Anna Maria Island property sales for the year ending June 30 are almost 50 percent greater than the year prior, with 268 total homes, condos and multifamily units sold compared with 182 for the year ending June 30, 2009, according to data supplied by Island Real Estate agent John Van Zandt. That’s a 47 percent increase in unit sales and demonstrates a healthy demand for inventory, which is now slightly more than 500 active listings in the three cities of Anna Maria, Holmes Beach and Bradenton Beach, Van Zandt said. And for the fourth straight month, the average price per-square-foot for condos sold on the Island during the same period is up nearly 15 percent, at $315 versus $277 a year ago. “The numbers represent pent-up demand for the vacation homes this Island offers, generally lower prices, and more flexible sellers than in recent years,” Van Zandt said. “Buyers also have shown confidence that their second homes can help pay a portion of their cost through strong rental income.”
For buyers, it’s still great news, especially when one considers month-to-month comparisons, Van Zandt said. For example, comparing June 2010 with June 2009, the average selling price per square foot for homes is now just $251 versus $284 a year earlier; for condos, it’s a similar story, $231 this year and $253 last year. Unit sales for June this year are off 11 percent, average price per square foot is a bit lower and tales of cautious behavior have local agents wondering what, if any, additional effect the gusher in the Gulf will have on sales and property values, Van Zandt said.This information is derived from the Mid-Florida Multiple Listing Service and is deemed to be accurate.
Tags: Anna Maria Island, home sales, increase
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July 16th, 2010
Tourism operators have a new tool to use to answer questions about the Deepwater Horizon oil spill’s potential impact on Anna Maria Island. A computer model map showing the probability of the oil’s path shows the Island has a 1-20 percent chance of being directly hit by oil or tar balls, according to the National Oceanic and Atmospheric Administration (NOAA). NOAA cannot pinpoint what percentage applies to the Island, spokeswoman Rachel Wilhelm said, but the Island’s location on the map lies at the border of the “below 1 percent” zone and the “1-20 percent” zone. The shifting loop current, expected to keep oil away from the Island, and other weather factors during hurricane season could redirect the oil, she said.
Answering inquiries from prospective visitors about the oil’s chances of reaching the beaches is tricky, said Ken Gerry, of the White Sands Beach Resort in Holmes Beach. Telling visitors about a 2 percent chance of oil hitting the beach won’t cause most people to cancel their reservations, while mentioning a 20 percent chance is “playing Russian roulette,” he said. “But saying ‘I don’t know’ is worse than saying, ‘there’s a 20 percent chance.’ ” Zones were established using historic wind and ocean current data and are based on oil being released for 90 days (through late July) at a rate of 33,000 barrels a day. The model will be updated as conditions change. The model shows the Florida Keys and southeast Florida at the highest risk of all Florida beaches, with a 61 to 80 percent chance of oil making landfall.
Tags: Anna Maria Island, Deepwater Horizon, National Oceanic and Atmospheric Administration (NOAA), oil spill
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July 16th, 2010
The new Bradenton Area Convention and Visitors Bureau director urged tourism operators last week to keep beating the drum with the message that the beaches are clean and Anna Maria Island is open for business. With $79,000 in lost revenue and 422 lost room nights reported to the bureau by the local tourism industry since the Deepwater Horizon oil spill began on April 20, Manatee County has requested $600,000 from BP to repay losses, CVB Executive Director Elliott Falcione said at a tourism industry meeting at Holmes Beach City Hall. Some of the funds would pay for a live Web cam on a lifeguard stand at Coquina Beach, where it can swivel from the Gulf of Mexico to the Intracoastal Waterway to show prospective visitors that the Island is surrounded by clean water, he said.
Meanwhile, the clean beach/clean water message on the bureau’s Web site should be on every tourism business Web site, along with links to existing live Web cams showing the beach, he said, adding, “We’ve got to work together.” Tourism operators also should use e-mail blasts and social networking sites to spread the word, and consider relaxing their cancellation policies, he suggested. For example, a “book with confidence” guarantee is being offered at several Pinellas County properties, he said. If oil hits a beach where visitors are booked, they get the first night free. On the Orbitz and Travelocity Web sites, tourists get full refunds if any beach within 20 miles of their lodgings is closed by the government due to oil, he said. The bureau is reaching out to a variety of prospective visitors, from United Kingdom tourists who fear that Floridians resent them for British Petroleum’s oil spill to 19 AAA offices in Georgia, Alabama and Tennessee to German tourism officials, a joint venture with Sarasota County’s visitors bureau that will invite Condor Airlines to provide service to Sarasota-Bradenton International Airport. Tourism operators should tell visitors about beautiful sunsets and recreational opportunities, rather than focus on the beaches being open because that raises questions in the minds of visitors, Bradenton Beach hotelier and Tourist Development Council member Barbara Rodocker suggested. Operators should keep track of lost revenue and report it to the CVB for future payments from BP, Falcione said. The next meeting is July 28 at 3 p.m. at Holmes Beach City Hall.
Tags: Anna Maria Island, BP, Clean beaches, Condor Airlines, Gulf of Mexico, Sarasota-Bradenton International Airport, Tourism industry
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July 13th, 2010
Holmes Beach, FL – July 12, 2010 – Engel & Volkers Longboat Key/Anna Maria Island Realty broker & agent, Ray Alexander & Tina Rudek are proactively working to garner support form community business leaders for Hamburg based, Condor Air‟s potential direct flights from Frankfurt, Germany to Sarasota-Bradenton International Airport (SRQ) . Named „Operation Condor,‟ Rudek and Alexander are working as quickly as possible to meet a July 19 th deadline when SRQ meets with Condor to advance plans for the direct route. “Subsequent to a meeting with SRQ‟s Director of Communication and Business Development, Michael Walley, we asked how we could help. Considering our company is also based in Hamburg, Germany, we thought there was some very collaborative synergy that might help bring more EU visitors our way,” Rudek explains. “We‟re experiencing more interest in Florida gulf coast real estate from Europeans, and a direct route will help augment their access to the value and lifestyle aspect of our gulf coast communities,” Broker, Ray Alexander notes.
Rudek is coordinating an effort among community leaders stretching from Anna Maria Island to Sarasota. She is asking community leaders to use their influence and network sphere to rally support from local businesses and provide some type of value incentive commitment. Her effort is intended to augment the ongoing alliance of the Convention Visitors Bureau & Manatee County‟s Tourist Development Council who has joined forces with the Economic Development Council of Manatee County & the Airport Authority to get Condor airlines into SRQ.
SRQ has already committed nearly $720,000 of value venues and marketing resources to achieve Condor‟s direct access here. “The value incentive commitment may come in the form of including Condor Air in a promotional venue, or some other value related aspect that helps promote Condor‟s service … We‟re not asking for a direct dollar contribution,” Rudek elaborates. “Despite recent issues with the EU, we‟re still experiencing active demand from Europeans and some capital flight from the EU to our specific waterfront communities,” Alexander notes.
Engel & Volkers based in Hamburg, Germany has 550 offices in 35 countries and 5 continents. They provide real estate brokerage services for both buyers and sellers while focusing on upscale residential and commercial properties in top locations worldwide. Engel & Volkers provides a proprietary buyer and seller system, advanced technology that connects property shops throughout the world and an academy that offers extensive training and support for their licensees.
Tags: Condor, Engel & Voelkers, Europe, Ray Alexander, Sarasota-Bradenton International Airport (SRQ), Tina Rudek
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July 13th, 2010
Holmes Beach, FL – July 12, 2010 – Engel & Volkers Longboat Key Realty broker & agent, Ray Alexander & Tina Rudek, were extremely active over the independence weekend. Over the last couple of weeks they opened their Holmes Beach real estate shop to viewers and fans of the World Cup. The German based firm was a particularly popular venue to watch Germany‟s success in the World Cup. They also celebrated America‟s independence by sponsoring one of the offshore race boats during Sarasota‟s weekend Thunderboat race. “It was a busy weekend, but we sure had fun,” states top agent, Tina Rudek. “Our shop design is very welcoming and really sets the stage for promoting the best lifestyle aspects of the community. Our success really comes down to selling properties by promoting and selling the lifestyle of our wonderful waterfront communities. In other words, selling the lifestyle here is what sells homes. This, and our global outreach, is why more Sellers are coming are way” Tina explains.Engel & Volkers business model is founded on promoting lifestyle. They also cross market this lifestyle platform with their Yachting division and Private Office of real estate investors. Broker Ray Alexander notes, “The World Cup and weekend Independence Day festivities really set the stage for having some fun, promoting the great lifestyle here, and promoting our international brand. We had fun with the families of our clients and employees.”
Engel & Volkers Longboat Key Realty acquired the Wedebrock Real Estate Company in early September 2009 and vacated their Longboat Key office in March of this year. They have temporarily consolidated operations in their Holmes Beach office with their Anna Maria Island office. They are actively scouting for more locations in both Longboat Key and Sarasota. “The Engel & Volkers shop design is the lynchpin to the Engel &Völkers brand. It‟s crucial that we carefully investigate the feasibility of creating our brand „shop‟ concept in the right location to ensure our formula driven shop design works best for us. We‟ve got our eyes on what we think our strong locations for us in Longboat Key and Sarasota … stay tuned,” Alexander remarks.
Engel & Volkers based in Hamburg, Germany has 550 offices in 35 countries and 5 continents. They provide real estate brokerage services for both buyers and sellers while focusing on upscale residential and commercial properties in top locations worldwide. Engel & Volkers provides a proprietary buyer and seller system, advanced technology that connects property shops throughout the world and an academy that offers extensive training and support for their licensees.
Tags: Engel & Voelkers, Holmes Beach, Independence Day, Lifeststyle, Ray Alexander, Tina Rudek, World Cup, Yachting
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July 12th, 2010
After the worst year in the home building business since the Great Depression, Southwest Florida builders and their subcontractors are getting busy again. Builders in Manatee County are firing up their cement mixers and nail guns the fastest. But other parts of the region — including hard-hit North Port — also are beginning to see an uptick in both permits and sales.
Permits in Manatee County more than doubled in the first three months of the year — 283 this year compared with 132 during the same period a year earlier, according to county government records. Sarasota County and North Port also saw rapid growth. Only Charlotte County continues to struggle, with permit activity rising and then falling again in monthly intervals.
“Older persons with active lifestyles also realize this is a good time to buy,” said Pat Neal, a Lakewood Ranch-based home builder. “And then there are speculators — people who are taking advantage of market conditions to buy small homes with the intention of riding prices up and trading them in for larger homes in five years’ time.”
Demand for homes priced at more than $300,000 also remains weak, thanks to a glut of unsold houses and the inability of local residents to move up to more expensive houses because so many are “underwater” — owing more than their house is worth. Concerns also are spreading that new home sales at every price level will be hurt in the months ahead because of the end of government tax incentives and the oil gushing into the Gulf of Mexico.
Despite the uncertainty, debt-free builders feel cheerier. The debt-free Lakewood Ranch home builder has outstripped his rivals — local and national — in sales and rapid response to changing market conditions. During the 12 months ending May 31, Neal Communities filed 247 building permits in Manatee County, a 94 percent increase from the same period a year earlier and twice as many as its nearest competitor, The Ryland Group.
Higher-end builders like John Cannon Homes also are seeing more activity. The company has applied for 14 permits in the past 12 months, compared with just three during the preceding 12-months. But sales at the high end are much harder to come by. “From Mercedes to high-end restaurants, everyone is living in a new reality now,” said John Cannon, the company’s president and namesake. By contrast, builders in the low end of the market say they are finally raising prices again. “We raised prices in six of our 12 open subdivisions,” Neal said. “We’re doing that because we want to match supply with demand.” Neal is not the only one, said Tony Polito, the director of the Tampa Bay market Metrostudy, a national company that tracks the construction industry. “Prices in our region corrected earlier than other areas of the country,” Polito said. “That allows us to show some appreciation. Prices at the bottom of the market are definitely rising.”
Tags: Demand, increase, Manatee County, Market condition, Southwest Florida
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July 8th, 2010
It’s referred to as Sarasota’s “Central Park,” and with such a lofty description, the city of Sarasota wants to treat Payne Park as an important cog in its parks system.
As it prepares to revise the park’s master plan, city parks staff members are reaching out to community members to help reshape the park. The city is not looking for input just from Payne Park neighbors, it wants all Sarasota residents to help. Payne Park officially opened in September 2007, after the completion of phase I of construction. Four different phases were planned, with each one adding more amenities to the park. Now the Payne Park master plan has to be revised, because of an 88% reduction in funding for the park’s second phase. More than $9 million was originally slated for phase II, but most of the money was used for the pursuit of the Boston Red Sox. To try to lure the team’s spring-training operations to Sarasota, the city used $5 million of the phase II money to purchase land between the park and U.S. 301, where it intended to build a new baseball stadium. The deal didn’t take place, and most of that land now sits empty.
Bad economic times have reduced the phase II pool of money even further; the city now has $1 million for the project.During a June 29 meeting with community members, city staff began a search for interested citizens to become part of a task force to rework the park’s master plan. Todd Kucharski, parks and recreation general manager, said the task-force members can be as involved in the park-planning process as they want. “This is your community,” he told them. Potential task-force members inquired about the use of the purchased land on U.S. 301. “Why can’t the city sell the lots and use that money to build phase II?” asked Virginia Hoffman. Kurcharski said because of the timing of the market, the city may take a loss on that transaction, so it probably would not sell it now.
Some of the possible amenities that Kucharski and his staff initially recommended are a circus-themed playground to be placed between the auditorium and walking track, new restroom in the same vicinity, more picnic tables, additional parking and an electronic sign at U.S. 301 and Laurel Street. Several amenities that had been planned for phase II and had to be dropped because of the reduced funding include a rebuilt auditorium, new amphitheater and streetscaping along Laurel Street. Phases III and IV are currently undefined and unfunded. After the June 29 meeting, 13 people signed up to become task-force members. Kucharski said he will likely pare that list down to nine.
Tags: Central Park, Payne Park, Sarasota
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