The Anna Maria Island Sun Newspaper

Vol. 12 No. 22 - March 14, 2012


Top turnaround towns in Florida

By the middle of March, those New Year's resolutions to turn our lives around are receding faster and faster into the rearview mirror. But there is a turnaround that's happening right under our noses, and you didn't have to put on your running shoes to get the benefit.

On Feb. 17, released a list of the top 10 turnaround towns in the United States for the fourth quarter of 2011. The list was compiled based on market rankings on year-over-year median price appreciation, reduction in year-over-year median age of inventory and inventory reduction levels based on's data base. It also considered unemployment rates on a year-over-year basis.

Its findings confirmed that the 10 towns listed all suffered from high foreclosure rates and are now rebounding. Better news still is that eight of the 10 towns are in Florida and the fifth ranking was the Sarasota-Bradenton real estate market.

Following are the top 10 towns in order of their ranking:

1. Miami, Fla.

2. Phoenix, Ariz.

3. Orlando, Fla.

4. Fort Myers-Cape Coral, Fla.

5. Sarasota-Bradenton, Fla.

6. Boise City, Idaho

7. Naples, Fla.

8. Fort Lauderdale, Fla.

9. Lakeland-Winter Haven, Fla.

10. Punta Gorda, Fla.

Sarasota-Bradenton had some very impressive growth rates: The median list price appreciation was up 10.78 percent and the median list price was up 2 percent. The median age of the inventory was down 26.5 percent and the inventory was down 31.01 percent. Finally the increase in sales was up 17 percent. If this trend continues it will be pushing Sarasota-Bradenton closer to a seller's market than it's been in over five years.

The Manatee Association of Realtors reported that January sales were down from December, which is not unusual since January is traditionally the slowest month for closings. However, the pending homes sales are up considerably to their highest level during the past 12 months. During January, 543 properties were put under contact which is 53 percent more than in December. Also, median prices in Manatee County are up 6 percent from a year ago to $165,000.

According to a report in the Wall Street Journal on Feb. 28, nationally the sales of previously owned homes was also up 4.3 percent, the highest in nearly two years and the third increase in the past four months. Also the inventory of unsold homes is down to a healthier level, and although mortgage rates are starting to trend up slightly, they are still below 4 percent, historically a very low number.

Mortgage rates adjusting upward may actually be a good thing for the real estate market. It could give that added push to buyers who have been hovering in the marketplace, but not making a commitment. All of this is pointing to a good year for our area and the country in general and what will hopefully be the beginning of an ongoing and significant turnaround.

As turnarounds go, this one sounds pretty awesome, but counting your equity before an offer would be like giving up the treadmill because you lost five pounds. Keep it positive, and keep on moving.

Real Estate Transactions
Real Estate Transfers from Feb. 1 to 15, 2011
Sponsored by Alan Galletto Island Real Estate

Sold Date | List Price | Sold Price | Address | Provision | Property Style

Anna Maria

02/03/2012 455,000 455,000 223 Willow Ave. 1553 100x148 3 Br/1 Ba SFR


02/03/2012 319,000 315,000 4126 Osprey Harbour 1912 2 Br/2 Ba condo

Holmes Beach

02/01/2012 229,900 205,000 600 Manatee Ave. # 130 1179 2 Br/2 Ba condo
02/02/2012 450,000 410,000 7000 Gulf Dr. # 205 1259 2 Br/2 Ba condo
02/03/2012 375,000 376,000 2312 Gulf Dr. # 207 1180 2 Br/2 Ba condo
02/07/2012 585,000 505,000 5300 Gulf Dr. # 310 1057 2 Br/2 Ba condo
02/14/2012 299,900 291,500 5200 Gulf Dr. # 102 832 1 Br/1 Ba condo
02/10/2012 30,000 23,000 No assigned address Dock- Rackominium
02/06/2012 425,000 395,000 7805 Gulf Dr. # 7508 B 875 2 Br/2 Ba SFR
02/09/2012 549,000 520,000 307 63rd St. # B 1650 3 Br/3 Ba SFR
02/10/2012 539,000 542,000 315 62nd St. 1600 3 Br/3 Ba SFR
02/10/2012 614,900 562,000 604 Hampshire Lane 1652 95x105 3 Br/2 Ba SFR
02/15/2012 1,149,000 900,000 661 Key Royale Dr. 2487 100x150 3 Br/3 Ba SFR
02/02/2012 260,000 255,000 6250 Holmes Blvd # 63 1224 2 Br/2.5 Ba town home
02/02/2012 449,000 450,000 120 50th St. 1204 62.5x100 2 Br/2 Ba vacant

Source: Manatee County Property Appraiser’s Office

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