Florida Real Estate News


Florida Waterfront Properties

Is Now The Time to Buy - It's Becoming Obvious

Posted October 08, 2015

sarasota luxury waterfront homes   Florida Realtors agree that for buyers who've always wanted a place in Florida, especially those who want a waterfront home or condo, right now is the time to buy. The number of waterfront home and condo sales is increasing each month and the inventory of waterfront properties on the market is dwindling. "Prices of upscale waterfront condominiums," reports Andree Huffine, a well known Sarasota luxury home specialist, "are still significantly lower than they were as far back as 2006, but are starting to creep upward once again. Another well-known Sarasota Realtor who specializes in homes on the Gulf of Mexico and Sarasota Bay stated, "We (in Sarasota) have some of the best waterfront real estate values, dollar-for-dollar, of any market in the country,"

  One example, discussed in a Sarasota Herald Tribune article last week, was a 1 bedroom, 1 bath unit on Lido Beach which received multiple offers within days of being listed, and sold for $10,000 more than the asking price. In the same article, Dick Plumb, a well-regarded Sarasota real estate agent reported on a sale of a home in Oyster Bay for $2.25 million. "He was really happy about it," the Realtor said, "not only because of all the amenities the area offers, but also because the home was a great value." "In the higher price ranges, there are many more homes just like that one," he said, adding, "there are still excellent values available on Florida waterfront properties throughout the state."

  All along the Florida waterfront, homes and condominiums are being snapped up because even at the current levels, they are still bargain-priced.

  Contracts and pending sales for luxury waterfront homes and condos in the $1 million and up price range were up about 15% for the first six months of 2015 over the 2014 level for the same period. The increase in volume has been, in part, the result of more sellers recognizing the reality of the marketplace. And, it is being driven by prospective buyers' rosier sense of confidence in the nationwide economic recovery. It is also being driven by individuals who have started buying Florida waterfront properties as investments.

  "Upscale Florida luxury waterfront properties remain popular regardless of the economic situation and so sales of these properties will accelerate as the economy improves," says Florida luxury homes Realtor Rich Stover, "People come to Florida to be on or close to a beautiful beach and the water and there's just no better place for that than here in the Florida SunCoast in the Sarasota - Bradenton area."

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