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i'm lee mirman with investments in sarasota
and today i'm at my family home on siesta key
first i want buyers to know that there's competition in the market
last week i sold a home on st armands circle
and in addition to the dozens of buyers that came in through the open house
there were sixty nine showings by agents ten offers and
the property sold for ninety five percent of the list price
there are three insights that i have so far as we move into two thousand eleven
our market here in sarasota is recovering and improving
for me to know that we are at the bottom
means that the property
that is purchased today
should be able to be sold for at least a nickel more tomorrow
while we were may not be there yet
there have been some great sales during the past twelve months to really demonstrate some ranges in the
market place
the sellers that have a turn key product
are setting the market those homes that are either
distressed
or in bad repair are being
discounted far more than it would cost to do the
upgrades to create that turnkey experience
second
the best opportunities
maybe behind us
when i look at some of the prices that buyers paid during the
past twelve months
those that were bold enough to move forward and are already enjoying sarasota lifestyle
i believe thats
incredible values
currently the market is being determined
by properties that are distressed
or bank owned
however in the near future
that's going to change
traditional things that are going to set the market
like the age of the home
property condition
and its location
and the current state of ownership whether it's a short sale or bank owned
are going to be a much much smaller part of the equation
finally as I continue to share
the best values are
for those properties that are
listed at million dollars or more in fact during the
last six months we have been averaging
over fifteen sales a month in this segment and there are
over six hundred and seventy properties
listed at over a million dollars buyers in this segment have a lot more leverage especially
when dealing with sellers
looking to sell in the short term
these are my
insights as we move into two thousand eleven
for investments in sarasota i'm lee mirman