Jim Sweat featured in Sarasota’s Scene Magazine “Men on the Scene 2016” Issue

 

publisher-quote-motsjulie-milton

 

 

The profiles are arranged alphabetically, so just like in school, I am near the back of the line.

Feel free to share, tag and post if you know anyone who would like an agent with the “protective nature of a guard dog” helping them to get the best price.

Jim Sweat Profile in Scene Magazine click here for the profile link.

 

All the Best!

Jim Sweat, ABR, CLHMS, CRS, CDPE, GRI, e-PRO, ILHM

REALTOR

Author of REAL ESTATE CSI: CONTROVERSY, SECRETS, INSIGHT (coming soon)

Jim Sweat – Helping Buyers & Sellers Choose Wisely Since 1995 ™

 Re/Max  Alliance Group

Mobile: 941-306-7384

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A Proven Professional Working for You!

21 Years Experience

Is This Another Real Estate Bubble?

Two questions need to be answered when multiple offers, bidding wars, tight inventory, and Realtors buying properties become the norm.

We have been seeing strong demand and rising prices for the last three years. The real estate market in Southwest Florida was decimated during the real estate crash, so it is not only reasonable, but also smart, to be alert for signs of danger. Values dropped by over fifty percent from the boom prices of 2005 to the depths of despair in 2011.

Many have been asking if the bidding wars we are seeing are leading to another bubble. Multiple offers are a sign of strong demand, which we definitely have.

There is one irrefutable sign when prices are not sustainable. I will get to that in a moment, first you need to know the two most important questions to ask:

  1. Who?
  2. Why?

Who is buying real estate, and why are they buying it? If you pay attention to the answers, you will have a good grasp on the overall health of the real estate market.

During an eight month period of 2014, over half of the agents in my office bought real estate. Now, we have a small office, still you had six agents buy property in a short period of time. Is that a warning sign?

It could be. The first wave of foreclosures during the crash was heavily populated with agent owned properties. I cover that in more depth in my upcoming book, Real Estate CSI: Controversy, Secrets, Insight. A real estate agent exposes dangers and dirty tricks that cost you money.

The second question determines if that is cause for alarm. Why? Answer: We all bought real estate to own it. None of those purchases was for a flip, or an attempt to get into the chain of title for profit. We all wanted to own the properties we bought.

That is a strong indicator of healthy market growth ahead.

During the boom, everyone was buying real estate. Anyone who could fog a mirror was clamoring to grab the next property available, and many times contracts were selling multiple times before the first closing even took place. Properties weren’t even changing hands. Just the contract to purchase was being sold at a profit to someone else.

Who? Everyone.

Why? For fast money. They didn’t want to own the property; they only wanted to get their name on a contract that could be sold tomorrow for more money.

The most important sign among the many:

When “everyone” is buying, but few actually want to own it, that is a bad sign.

So who is buying real estate today, besides half of our office? Baby boomers; early retirees; investors; snowbirds; first time buyers; move up buyers; people who love Florida and want to enjoy it for more than a couple of weeks a year; and the occasional flipper.

These are good people to see spending their money in the marketplace, and a sign that bodes well for the future.

Respectfully,

Jim Sweat, ABR, CRS, CDPE, GRI, e-PRO, ILHM

REALTOR

Author of REAL ESTATE CSI: CONTROVERSY, SECRETS, INSIGHT (coming soon)

American Realty of Venice, Inc.

700 W. Venice Ave

Venice, FL 34285

941-484-8080

http://myfloridahomesmls.com/JimSweat Home search

www.linkedin.com/in/jimsweat LinkedIn

https://www.zillow.com/reviews/write/?s=X1-ZUyz3incawqo7d_93ahq Zillow

Local Realtor offers to pay you so they win next time! Coastal Living ranked Venice America’s Second-Happiest Seaside Town 2015.

Local Realtor offers to pay you so they win next time! Coastal Living ranked Venice America’s Second-Happiest Seaside Town 2015..

How Many Million Dollar Homes Sell Every Day in the Tri-county Region of Sarasota, Manatee and Charlotte?

How secure is it to purchase a high-end home in this southwest Florida area? Let’s take a quick look at two of our local islands, and then the numbers for each county.

In the last 12 months, there have been 25 closed sales on Casey Key. All but three of them were for over a million dollars. The average sale price was $2.62M, the median was over $2M.

Fifty three single family homes, on Siesta Key, over $1M, on the waterfront sold in the last 12 months (more than one per week). Average sale price was almost $2.6M; with the median at $1.8M.

When I expand the criteria to all sales on Siesta Key for $1M or more, there are six with accepted offers, averaging almost $2.4M asking price; seven are pending with average list price of $2.15M; and 78 sales have closed, with an average selling price of $2.25M. That is 1.5 sales per week, pretty strong demand for million dollar homes on just one barrier island in Sarasota County!

When I proceed to pull the statistics for all of Sarasota County, it confirms that there is a robust market in the $1M and up price range.

Thirty one homes are active with contract (accepted offers in place) with an average list price of $1.72M. Seventy five homes are pending, with an average list price over $2.3M.

395 homes have sold for over a million dollars in the last 365 days in Sarasota County! More than one per day, with an average sales price over $1.9M. The average days on market is 183 in this price range, so it may be a stretch to call it “brisk”, but 395 closed sales is certainly proof of a strong and healthy demand for high end homes in the Sarasota area!

Manatee County has five homes AWC – active with contract, averaging $1.8M; eighteen are pending, averaging $1.74M; one hundred twenty three (123) homes have sold averaging over $1.5M.

Charlotte County is smaller and has six high end homes with accepted offers (AWC) that average $1.59M; ten are pending sales averaging $1.64M; twenty homes have sold with an average sales price of $1.57M.

Total sales for million dollar homes in the Tri-county region are 538; average is almost 1.5 sales per day. So, how secure should someone feel about buying a high end home in Sarasota County, Manatee County, or Charlotte County?

Five hundred thirty eight sales indicate a lot of millionaires are interested enough in our area to put some serious money into real estate here.

Here are some additional things to think about.

Even though the experts were wrong about how quickly interest rates would go up, they will eventually rise beyond the historic lows we have been enjoying. A boost to our area is that property values have been increasing in most of the country, and that will allow many folks who were waiting to regain their equity, to sell up north and move to Florida.

Thousands of baby boomers retire every day, and many of them have spent their entire lives dreaming about owning a home in Florida so they can escape the cold that makes their bones ache!

It isn’t just homes that are selling. When you follow the money, you end up in the Tri-county region.

Last month, Publix paid more than $17 million dollars for the shopping center at University Parkway and Market Street in Lakewood Ranch. In the past year, it also acquired centers in Sarasota, Parrish, Englewood and Port Charlotte.

Publix is just one company that is expanding in the region. A lot of big names are investing heavily in SW Florida. The UTC Mall is the only mall that opened in all of the US last year. Many other big names have either just come to the area, or expanded in the last few years. I am working on an updated list of businesses that have opened commercial locations recently.

I feel good confirming that there is such an active high end residential market, on top of the massive investment regional and national companies are making in our area. This all bodes well for the future, and proves that a lot of smart money is flowing directly into the Sarasota County region.

Follow the money, it leads to Sarasota!

Sales data compiled from the My Florida Regional Multiple Listing System for 3-18-2014 to 3-18-2015.

Respectfully,

Jim Sweat, ABR, CRS, CDPE, GRI, e-PRO, ILHM

REALTOR

Author of REAL ESTATE CSI: CONTROVERSY, SECRETS, INSIGHT (coming 2015)

American Realty of Venice, Inc.

700 W. Venice Ave

Venice, FL 34285

941-484-8080

http://myfloridahomesmls.com/JimSweat Home search

www.linkedin.com/in/jimsweat LinkedIn

https://www.zillow.com/reviews/write/?s=X1-ZUyz3incawqo7d_93ahq Zillow

Nearly extinct a few years ago, I found several in Sarasota. Here are two videos

Two videos below.

A few years ago, you couldn’t find one anywhere in the state of Florida, but they are making a prolific comeback in the Sarasota area!

I was down by the Sarasota Bayfront Park, by Marina Jack’s and whipped out my camera phone. There were several nesting near the base of the Ringling Causeway Bridge and others dispersed along the bayfront.

Interesting creatures. They build temporary nests. Temporary because the larger and more elaborate the nest becomes, the more people are attracted to it. Eventually, they just move to another location to start building again. It is pretty easy to tell from the videos exactly where they are currently located, if you want to go see them yourself.

Just stay back away from the nest, there are temporary fences put up to reduce the chances of people getting too close.

Sarasota has a rich and healthy environment that should continue to draw more in as time passes.

Enjoy the videos and let me know what you think.

If you know anyone who would like to make this wonderful habitat their own home, I work Sarasota county, Manatee county and Charlotte county.

Respectfully,

Jim Sweat, ABR, CRS, CDPE, GRI, e-PRO, ILHM

REALTOR

Author of REAL ESTATE CSI: CONTROVERSY, SECRETS, INSIGHT (available 2015)

American Realty of Venice, Inc.

700 W. Venice Ave

Venice, FL 34285

941-484-8080

http://myfloridahomesmls.com/JimSweat Home search

www.linkedin.com/in/jimsweat LinkedIn

http://www.trulia.com/profile/jimsweat Trulia

https://www.zillow.com/reviews/write/?s=X1-ZUyz3incawqo7d_93ahq Zillow