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Vol. 14 No. 43 - August 20, 2014

REAL ESTATE

More luxury real estate news

 

When you’re hot, you’re hot, and Florida is hot in more ways than one. Last week we talked about 10 jewel box real estate markets in the world as reported by Christie’s International. One of the 10 is Sarasota, where 8 percent of the market is comprised of $1 million or more homes, a 15 percent increase from last year. This week there is another interesting market statistic which puts Florida in the hot arena.

Recent data from the U.S. Census Bureau identified housing markets with the largest percentage of resident CEOs in the local workforce. They analyzed 10 metro housing markets with the greatest percentage of resident CEOs and five of those markets were in Florida.

The metro markets came in as follows based on the percentage of residents identified as CEOs: Bridgeport-Stanford-Norwalk, Conn. 1.82 percent; Boulder, Colo. 1.45 percent; Sebastian-Vero Beach, Fla. 1.37 percent; Naples-Marco Island, Fla. 1.28 percent; Cape Coral-Fort Myers, Fla., 1.27 percent, Oxnard-Thousand Oaks-Ventura, Calif. 1.21 percent; Fort Lauderdale-Pompano Beach-Deerfield Beach, Fla. 1.20 percent; North Port-Bradenton-Sarasota, Fla. 1.20 percent; Barnstable Town, Mass. 1.13 percent; San Jose-Sunnyvale-Santa Clara, Calif., 1.10 percent.

In addition, even though the five Florida metro regions all came in lower for median asking home prices than the other five, Florida still maintained a higher percentage of CEO residents. Florida is, of course, a popular destination because there is no individual state income tax, an especially attractive draw if you’re from New York and California. Also many of these home purchases start out as vacation homes and end up being primary residences even before retirement, since the ability to work remotely is becoming more and more standard for businesses.

Do you think CEOs who successfully climbed the corporate ladder know a thing or two? Chances are they know about making sound financial decisions, so keeping an eye on these markets can be very educational.

Since we’ve been talking about the luxury real estate market the last couple of weeks, there is one more area I would like to touch on and that’s open houses. Most homeowners who are in what is considered the luxury market for their region do not encourage brokers to conduct public open houses, but this could be a mistake.

In real estate you never know where your sale is going to come from. It may not be from the person you’re talking to, but from their sister’s friend that she happened to have lunch with last week. Word gets around and everyone loves to talk about real estate, especially in an appreciating market. Open houses in all price ranges attract a fair amount of nosy gawkers, but pricey homes could attract even more. Never-the-less, that’s not a reason not to have open houses. You just need to take a different approach.

Invitation-only open houses sent to targeted areas is one way. Adding wine tastings or raffles for high end gifts or vacations also will sweeten it up. In addition to having broker-only open houses, brokers could be encouraged to bring their buyers to an invitation-only open house on a special property. Naturally, large homes with expensive furnishings and art work require a large staff to be on hand to monitor the traffic at an open house even one that is by invitation.

Don’t discount public and especially broker open houses if you’re trying to sell your luxury home. The emotional pull of seeing a home in person rather on a computer screen can’t be emphasized enough especially in our cyber world.

Luxury is hot, Florida is hot and our region is hot. The news keeps pointing to a continued housing recovery.

Real Estate Transactions
Real estate transfers as of October 1-31, 2013
Sponsored by Alan Galletto Island Real Estate

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

Anna Maria

06/06/14 625,000 625,000 317 N. Bay Blvd. 1777 57x110 2 Br/2 Ba SFR 06/30/14 995,000 995,000 219 Willow Ave. 1575 3 Br/2 Ba SFR 06/16/14 899,000 868,000 700 Jacaranda Rd . 1900 50x150 4 Br/2.5 Ba SFR 06/23/14 745,000 730,000 225 Gladiolus St . 1893 71x102 3 Br/2 Ba SFR 06/27/14 699,000 675,000 746 Jacaranda Rd. 2151 50x100 2 Br/2 Ba SFR 06/02/14 759,000 680,000 305 Poinsettia Rd. 1296 52x112 3 Br/2 Ba SFR 06/30/14 995,000 925,000 526 Kumquat Dr. 2480 79x126 4 Br/2.5 Ba SFR 06/30/14 799,900 772,500 209 Chilson Ave. 1892 72x148 2 Br/2 Ba SFR 06/16/14 619,000 610,000 302 Spring Ave. 1484 52x73 3 Br/3 Ba SFR 06/19/14 477,777 420,000 711 N. Bay Blvd. A 1512 54x100 4 Br/2 Ba SFR 06/18/14 2,299,999 2,000,000 785 N. Shore Dr. 3478 4 Br/4 Ba SFR 06/06/14 499,000 400,000 415 Pine Ave. 3190 52x145 5 Br/4 Ba Dup 06/19/14 477,777 420,000 711 N. Bay Blvd. A 1512 54x100 4 Br/2 Ba Dup 06/06/14 279,000 272,000 522 Pine Ave. 4d 822 2 Br/1 Ba Condo 06/06/14 485,000 440,000 105 Beach Ave. 50x100 Vac.
06/20/14 599,000 550,000 106 Park Ave. 75x100 Vac.

Bradenton Beach

06/06/14 295,000 250,000 108 12th St. N. # A 1400 54x100 2 Br/3 Ba Dup 06/25/14 245,000 235,000 1801 Gulf Dr. N. 232 691 1Br/1 Ba Condo 06/20/14 129,000 129,100 2601 Gulf Dr. N. 614 692 2 Ba/1.5 Ba Mobile 06/18/14 124,900 122,500 2601 Gulf Dr. N. 210 494 2 Ba/1.5 Ba Mobile Sold Date Listed Price Sold Price Property Address SFUA Lot Size Property
Cortez
06/02/14 279,900 270,000 4204 126th St. W. 503 1244 2 Br/2 Ba Condo 06/30/14 689,000 656,000 4146 Marina Ct. 411 2604 3 Br/2 Ba Condo 06/13/14 189,900 185,000 9604 Cortez Rd . W. 326 1218 2 Br/2 Ba Condo

Holmes Beach

06/13/14 999,000 950,000 205 69th St. 2000 35x100 4 Br/4 Ba SFR 06/30/14 599,000 568,000 209 81st St. 1591 3 Br/2.5 Ba SFR 06/30/14 875,000 817,500 109 81st St. 1789 64x80 3 Br/2.5 Ba SFR
06/06/14 685,000 680,000 530 67th St . 1286 80x113 3 Br/2 Ba SFR 06/27/14 799,000 725,000 202 75th St. B 1967 4 Br/2.5 Ba SFR 06/27/14 995,000 806,400 529 72nd St. 2076 105x112 3 Br/2 Ba SFR 06/30/14 890,000 850,000 518 72nd St. 1941 95x117 3 Br/3 Ba SFR 06/16/14 679,000 679,000 207 73rd St. 1600 76x105 3 Br/2 Ba SFR 06/03/14 649,000 632,500 302 60th St. B 1200 3 Br/2 Ba SFR 06/03/14 698,000 632,500 302 60th St. A 1500 4 Br/3 Ba SFR 06/18/14 869,000 835,000 314 60th St. 2356 4 Br/3 Ba SFR 06/12/14 237,900 227,500 3607 E. Bay Dr. 207 980 2 Br/2 Ba Condo 06/13/14 429,900 425,000 6500 Flotilla Dr. 173 1622 3 Br/2 Ba Condo 06/16/14 312,000 297,500 3705 E. Bay Dr. 106 1121 2 Br/2 Ba Condo 06/24/14 259,900 245,000 4307 Gulf Dr. 108 1027 2 Br/2 Ba Condo 06/30/14 384,900 384,900 4101 Gulf Dr. 1 2613 50x100 Dup, REO
06/19/14 49,000 50,000 5337 Gulf Dr. 300 4886 82x118 Comm.

Source: Manatee County Property Appraiser’s Office


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