7324 Broughton Street, Sarasot FL 34243 (Short Sale) – $169,900

 

2 bed 2 bath

 7324 Broughton Street, Sarasota FL 34243

 Short Sale – Beautiful home situated 1 block away from Sarasota Bay in historic Whitfield Estates and close to Sarasota/Bradenton Airport. The floor plan complements the square footage making it feel bigger. Kitchen has granite countertops. Great outdoor kitchen with a good size back yard. Close to US41 and the SRQ airport.  A/C Handler 2003, Water heater 2007, All the windows hurricane approved, with shutters for doors. BOA has already done their appraisal, the short sale documents have been collected and sent into the bank.  Ready for offers!!!

 

To arrange a viewing please call

 

Jane Ebury

Realtor

941-726-9360

Murray Realty

1255 Seeds Ave, Sarasota FL 34237

www.murrayrealty.net   www.facebook.com/murrayrealtysarasota

www.themurrayblog.net

Wells Fargo Revise Foreclosure documents

http://money.cnn.com/2010/10/27/real_estate/wells_fargo_foreclosures/index.htm

Never a dull moment

With Halloween, Thanksgiving, Christmas and New Year racing upon us, 2011 is only round the corner.  Some of you will be glad to see the back of 2010, others will look forward to 2011 with a positive attitude and a sense of anticipation.
 
Over the last two to three years, real estate and banking news has filled the media for one reason or another.  Over the last few months things had quietened down……or so we thought!  Earlier this month J.P. Morgan Chase, Bank of America, Wells Fargo and many other lenders stopped all foreclosures until further notice.  They have discovered that the lawyers they retained did not handle the files with due diligence, which lead to many homes being foreclosed upon by banks who may or may not hold the note.  With this said, the financial institutions are frantically trying to limit the damages.  I suspect we may see class action suits brought against the banks in the near future by homeowners who surrendered their homes to lenders who were not qualified to foreclose.
 
On a more positive note, the snow birds are starting to return to Sarasota.  This is the perfect time to list your home ready for the seasonal residents to buy up our real estate at historically low prices. 
 
Murray Realty has a Facebook page.  If you haven’t already viewed these, click on the links below.  Both pages have proved to be a huge success.  They are regularly updated with information on new listings and relevant market changes, as well as our opinions on real estate news.  Please feel free to comment on any articles on our sites.  This enables us to stay focused on what you need from your real estate agent.

Thank you for supporting us and have a safe Halloween

Amendment 4: What Every Voter Should Know

What are the facts?

On November 2nd, you will be asked to vote yes or no on a plan to alter Florida’s Constitution called Amendment 4. Special interest lawyers, adult entertainment interests and population control groups have designed, funded and proposed this amendment to our Constitution. Take a moment to learn more about who’s backing Amendment 4 and why.

What is the issue?

Amendment 4 will prolong the recession and put recovery out of reach for thousands of working Floridians. As a result, leading business, labor, and civic groups oppose Amendment 4

What will the measure do?

This proposed change to Florida’s Constitution would require a taxpayer-funded referendum for every single change to a local government comprehensive plan. Simply stated, Amendment 4 would force Floridians, not the representatives they elect, to decide hundreds of minor, technical comprehensive plan changes each year on issues like drainage, traffic circulation, and intergovernmental coordination.

What does that mean for you?

Here is what Amendment 4 means for you: (1) a Florida with drastically fewer jobs, (2) a significantly weaker economy, and (3) unbearably higher taxes to feed the Amendment 4 “litigation” bureaucracy.

The Florida Chamber of Commerce asked leading economists to study the impact of Amendment 4. The study indicates that Amendment 4 would likely put more than 267,000 Floridians out of work, shrink Florida’s economic output by more than $34 billion annually, and take nearly $12 billion out of the pockets of working families.

With Florida’s jobless rate reaching well into double digits, our state’s top business and labor groups have put politics aside to oppose Amendment 4. Mark Wilson, president of the Florida Chamber of Commerce wrote: “If you like the recession, you’ll love Amendment 4.” Frank Ortis, executive board member with Florida’s AFL-CIO noted that “Amendment 4 will devastate Florida’s economy by costing hundreds of thousands of jobs and driving the unemployment rate even higher.”

According to the Orlando Sentinel, “The cost to local governments of [Amendment 4] would soar into the millions.” Those costs would be shouldered by Florida’s taxpayers who could expect to see not only more government waste, but also nonstop lawsuits as special interests wage war in court over the technical wording of endless ballot summaries. Referencing a failed experiment in Amendment 4-style rule in the small Florida town of St. Pete Beach, the St. Petersburg Times wrote that Amendment 4 leads to “short-term thinking” and “invites lawsuits…”

What is the conclusion?

Florida’s jobless rate is high—but it could get much, much worse with the passage of Amendment 4. At a time when many families and small businesses are struggling to make ends meet, that’s the last thing we need. Please take the time to learn more about Amendment 4 by visiting www.Florida2010.org.

Real Estate Investment

If you are thinking about purchasing a home, don’t let negative or sensationalized headlines be your sole persuader.  Even journalists who write many of the stories behind the headlines are rebelling against the idea that real estate is on its way out as the foundation of many Americans’ wealth.  We’ve certainly had our ups and downs over the years, but that’s expected in every investment’s cycle.  We are getting much closer to a sustained up cycle.  Read as much as you can from the sources you trust.  That way you’re most likely to make the right decision for you, and with confidence.   Above all, don’t let trash talk rob you of one of the most opportune moments in real estate history.

August property sales up; prices remain stable

The Sarasota real estate market rebounded in August 2010 after an expected slower July, following the expiration of the federal $8,000 homebuyer incentive. Sales were up 8 percent over July 2010, and up 14.3 percent over August 2009.   Property sales in August 2010 stood at 567 total sales. This compared to 525 sales in July 2010 and 496 sales in August 2009.   There were 408 single family home sales in August, with the median price at $154,500, almost identical to last month’s figure of $155,000. The median price was also $155,000 in August 2009, and has been steady throughout the last 12 months ($161,000), fluctuating between a high of $170,000 and a low of $150,000.   Condos saw 159 sales in August, with the median price rising by 22 percent to $155,000 from last month’s figure of $127,000.  For the last 12 months combined, the median sale price for condos was $169,900. Distressed condo sales have dragged the overall median price down substantially, with normal arm’s length sales garnering three-times as much as bank-owned properties, and twice as much as short sales on average.   Pending sales also rose in August to 816, from last month’s figure of 653, for a 25 percent increase. The rise bodes well for the closings in the early fall months.   “It was very encouraging to see that the market recovered nicely after a drop in sales from June to July,” said 2010 SAR President Erick Shumway. “After experiencing a five-year high in sales for the second quarter, everyone knew the loss of the homebuyer tax credit would have a negative impact. But we saw a big jump in sales for August, and prices held steady, so this market still has legs and the recovery appears to be a healthy one.”   The level of sales of distressed properties (foreclosures and short sales) dropped in August 2010 to 47 percent from last month’s figure of 48.7 percent of the overall market. Distressed market sales were at a high in late 2009, and have hovered in the range between 44 and 48 percent since that time.   The property inventory level remained fairly consistent, remaining just over the 6,000 level in August 2010, which remains one of the lowest monthly levels since late summer of 2005.   The months of inventory for single family homes in August 2010 dropped to 9.5 months from 10.4 months in July. The figure was 10.3 months in August 2009. This figure represents the number of months it would take to sell all available homes at the current pace. For condos, the figure dropped to 13.5 months from 14.4 months in July 2010. It was substantially lower than the August 2009 figure of 20.5 months. Once the market reaches the 6 month level it is considered to be in equilibrium between a buyers and sellers market.

Sarasota Association of REALTORS®

Bird Key

Bird Key, a 510-home enclave just off the Ringling Causeway, has canal-front and bayfront homes with manicured lawns and dramatic city skyline view.  Also originally owned by John Ringling, the key was the Arvida Corporation’s first big Sarasota development in the early 1960s.  Bird Key is a boater’s dream, and the Bird Key Yacht Club is the hub of social life here.  A mix of executives, physicians, recently retired baby boomers, at least one rock’n’roll superstar and a controversial national talk-show host live here, but we’re not naming names.

New Listing – Investor Opportunity!

610, 640 and 642 Madison Court, Sarasota FL 34236

 

Short Sale!

 

3 adjoining lots in Laurel Park. Listed separately but available as a parcel at $900,000. 610, 640 and 642 Madison Ct. See MLS # A3924746, A3924747 and A3924748. 8 fully leased units in total on 5 lots in sought after Laurel Park. Low out of pocket expenses due to separate water/electric meters. Plenty of parking. Short Sale:approval of the seller’s lenders(s) may be conditioned upon the gross commission being reduced.642 Madison must be purchased with the adjacent properties (610 & 640 Madison) as part of the zoning requirements to to allow construction of 5 single family residences in Laurel Park.

 

 

 

For more information call;

 

Steve Murray

941 365 1837

 

 

US new home sales still sluggish

26 July 2010 Last updated at 11:53 ET

 

 

The pace of sales remains slow

New home sales in the US rose sharply in June compared with the previous month, but the pace of sales was the second slowest on record, official figures show.  The Commerce Department said sales rose to an annual rate of 330,000 in June from a revised 267,000 in May, which had been the worst month on record. 

June’s figure was the second-lowest rate since records began in 1963.

The housing market has suffered since tax credits for buyers ended in April.

Analysts say that the uncertainty over the US economy – including unemployment at about 9.5% and tight credit conditions – have left potential buyers reluctant to commit to a new home. “There’s no question that this is a weak number, but it seems to be more stable,” said Stuart Hoffman, chief economist at PNC Financial Services Group. 

“The bottom line to all of this is that we need more jobs.”

Knock-on effect

Sales saw their peak annual rate of 1.39 million in July 2005.  New homes sales made up about 7% of the housing market last year – though this figure was about 15% before the collapse of the housing market. Knock-on effects of low sales include fewer jobs in the construction industry.

According to the National Association of Home Builders, each new home built creates an average of three jobs for a year and generates about $90,000 in taxes.

http://www.bbc.co.uk/news/business-10766594

Positive Signs for Residential Real Estate

Sales of existing homes in Florida rose 15 percent in June, marking 22 consecutive months that sales activity has increased in the year-to-year comparison, according to the latest housing data released by Florida Realtors®.

Murray Realty – Why you should choose us?

We have a few major factors on our side;

-    we have specialized in buying, selling and building on Longboat Key, Lido Key, Sarasota and  Bird Key since 1995. We have built and remodeled 21 homes on Bird Key alone and are currently building 2 new construction custom homes on the key, reflecting our draw to investors or potential building clients. All lots that have not been improved or rebuilt are seen as a potential tear down and rebuild, and clients come to us for that advice and expertise. We can also offer a potential client remodeling ideas and costs, which broadens your customer base.

-    There are many foreign buyers entering the Sarasota market at the moment, especially Europeans. We have just completed a days  shooting of our other listing, by a German production crew filming a home show airing in Germany, Switzerland and Austria. Our UK connections have brought many European buyers into Sarasota over the years.

-    We have an affiliation with Savills and Country Life in the UK, the leading real estate agent and publication for estate homes and feature on their website. This generates a lot of referrals.

-    We are on all current media websites including Realtor.com, Facebook etc, we have an interactive search facility on the website that draws a lot of traffic. We publish regular e-blasts promoting our listings and send out a targeted monthly blog to over 3000 addresses.

-    We update you weekly on traffic, showings and market trends in order to ensure you remain advised on the status.

-    We believe that being a small company, we are able to act and react swiftly and give the personal service that high end custom homes require. We are Bird Key and Longboat Key specialists….this is our patch… and we have good relationships with all of the realtors in town that sell Bird Key, Longboat Key and waterfront property, meaning that all local realtors are aware of our listings and have complete access and knowledge to the attributes of the house. The MLS today means that all posted houses are available to buyers via the internet. Then converting an interested party to a sale, is what we do best.

-    We believe in and take good photography as these photos sell the houses to internet clients. We perform area caravans, showing local realtors and hold open houses on Sundays.

In conclusion, as a small but experienced company, concentrating on a small geography, and having the added bonus of our construction company and contacts, we believe that we offer the best service available for your property.

Hopefully this helps. If it sounds like a hard sell, it is, because we believe in what we do and are successful at doing it.

Murray Realty Presents – 14618 Sundial Place, Lakewood Ranch, Sarasota FL34202

Front View - Sundial Place

Murray Realty Presents -

This home is beautiful and is a must see!! 4 Bedrooms plus front office, addition games/playroom at the back, private lake and preserve lot.It has many upgrades throughout including crown modeling, tile in main areas, vaulted ceilings, granite countertops and much more. Gorgeous kitchen with wood cabinetry and black onyx granite. Disappearing sliding glass doors in family room open up to lanai with a fabulous pool/spa. There is 1 bedroom and bath off of the upstairs bonus room that also has a relaxing balcony facing the preserve.  You will love the peaceful lake view with the preserve and woodlands in the distance with abundant wildlife. Three Car Garage. Within walking distance to elementary school, middle school and playgrounds. Call Jane Ebury for more details 941 726 9360

Jane Ebury

Realtor

jane@murrayrealty.net

941-726-9360

Kenneth R. Harney – Kenneth Harney: Foreclosure alternative gaining favor

Kenneth Harney: Foreclosure alternative gaining favor

via Kenneth R. Harney - Kenneth Harney: Foreclosure alternative gaining favor.

February 19, 2010 REAL Magazine Event

Tue, Feb 9, 2010

Events, Features, News

February 19, 2010 REAL Magazine Event.

Hosted by Steve Murray of Murray Homes at his Bird Key bayfront estate at 667 Mourning Dove Drive, Sarasota, Florida 34236, 11:30am-1pm. The keynote speach will be delivered by Jeff LaHurd, author and historian, on the history of Bird Key.  
On February 19th 2010 from 11:30am to 1pm REAL Magazine will hold a networking event at 667 Mourning Dove Drive on Bird Key. The event will feature a presentation on the history of  Bird Key by noted local historian and author of 12 books on Sarasota, Jeff LaHurd.  A surprise giveaway ups the ante one more notch.

Click here for Jeff LaHurd’s biography

FHA Announces Policy Changes to Address Risk and Strengthen Finances

New Measures Will Help FHA Better Manage Risk, While Maintaining Support for the Housing Market and Access for Underserved Communities 

WASHINGTON – Federal Housing Administration (FHA) Commissioner David Stevens today announced a set of policy changes to strengthen the FHA’s capital reserves, while enabling the agency to continue to fulfill its mission to provide access to homeownership for underserved communities. The changes announced today are the latest in a series of changes Stevens has enacted in order to better position the FHA to manage its risk while continuing to support the nation’s housing market recovery.

The FHA will propose to take the following steps: increase the mortgage insurance premium (MIP); update the combination of FICO scores and down payments for new borrowers; reduce seller concessions to three percent, from six percent; and implement a series of significant measures aimed at increasing lender enforcement. U.S. Housing and Urban Development Secretary Shaun Donovan previewed the changes in December of last year, noting that the FHA would announce additional details before the end of January.

“Striking the right balance between managing the FHA’s risk, continuing to provide access to underserved communities, and supporting the nation’s economic recovery is critically important,” said Commissioner Stevens. “When combined with the risk management measures announced in September of last year, these changes are among the most significant steps to address risk in the agency’s history. Additionally, by continuing to provide affordable, responsible mortgage products, FHA will support the housing market’s recovery. Importantly, FHA will remain the largest source of home purchase financing for underserved communities.”

Announced FHA Policy Changes:

1. Mortgage insurance premium (MIP) will be increased to build up capital reserves and bring back private lending
   • The first step will be to raise the up-front MIP by 50 bps to 2.25% and request legislative authority to increase the maximum annual MIP that the FHA can charge.
   • If this authority is granted, then the second step will be to shift some of the premium increase from the up-front MIP to the annual MIP.
   • This shift will allow for the capital reserves to increase with less impact to the consumer, because the annual MIP is paid over the life of the loan instead of at the time of closing
   • The initial up-front increase is included in a Mortgagee Letter to be released tomorrow, January 21st, and will go into effect in the spring.
2. Update the combination of FICO scores and down payments for new borrowers.
   • New borrowers will now be required to have a minimum FICO score of 580 to qualify for FHA’s 3.5% down payment program. New borrowers with less than a 580 FICO score will be required to put down at least 10%.
   • This allows the FHA to better balance its risk and continue to provide access for those borrowers who have historically performed well.
   • This change will be posted in the Federal Register in February and, after a notice and comment period, would go into effect in the early summer.
3. Reduce allowable seller concessions from 6% to 3%
   • The current level exposes the FHA to excess risk by creating incentives to inflate appraised value. This change will bring FHA into conformity with industry standards on seller concessions.
   • This change will be posted in the Federal Register in February, and after a notice and comment period, would go into effect in the early summer.
4. Increase enforcement on FHA lenders
   • Publicly report lender performance rankings to complement currently available Neighborhood Watch data – Will be available on the HUD website on February 1.
     • This is an operational change to make information more user-friendly and hold lenders more accountable; it does not require new regulatory action as Neighborhood Watch data is currently publicly available.
   • Enhance monitoring of lender performance and compliance with FHA guidelines and standards.
     • Implement Credit Watch termination through lender underwriting ID in addition to originating ID.
     • This change is included in a Mortgagee Letter to be released tomorrow, January 21st, and is effective immediately.
   • Implement statutory authority through regulation of section 256 of the National Housing Act to enforce indemnification provisions for lenders using delegated insuring process
     • Specifications of this change will be posted in March, and after a notice and comment period, would go into effect in early summer.
   • HUD is pursuing legislative authority to increase enforcement on FHA lenders. Specific authority includes:
     • Amendment of section 256 of the National Housing Act to apply indemnification provisions to all Direct Endorsement lenders. This would require all approved mortgagees to assume liability for all of the loans that they originate and underwrite
     • Legislative authority permitting HUD maximum flexibility to establish separate “areas” for purposes of review and termination under the Credit Watch initiative. This would provide authority to withdraw originating and underwriting approval for a lender nationwide on the basis of the performance of its regional branches

In addition to the changes proposed today, the FHA is continuing to review its overall response to housing market conditions, and continuing to evaluate its mortgage insurance underwriting standards and its measures to help distressed and underwater borrowers through FHA/HAMP and other FHA initiatives going forward.

http://portal.hud.gov/portal/page/portal/HUD/press/press_releases_media_advisories/2010/HUDNo.10-016

 

90 Day seasoning dropped

The HUD Secretary Shaun Donovan has announded, as of the 1st Feburary 2010 the 90 day seasoning that new homeowners have to wait before they are able to resell will be dropped temporary for 1 year.

To protect the FHA borrowers against predatory practices  of “flipping,” the waiver is limited to those sales meeting the following general conditions;

• All transactions must be arms length, with no identity of interest between the buyer and seller or other parties participating in the sales transaction.
• In cases in which the sales price of the property is 20% or more above the sellers acquisition cost, the waiver will only apply if the lender meets specific conditions.
• The waiver is limited to forward mortgages, and does not apply to the Home Equity Conversion Mortgage (HECM) for purchase program.
• Specific conditions and other details of this new temporary policy are in the text of the waiver, available on HUD’s website: www.hud.gov/offices/hsg/sfh/waivpropflip2010.pdf

Market News

Happy New Year!

Phew!!  The last 12 months have been somewhat eventful – a new president, banks going out of business, the Stock Exchange at an all time low, and the housing market crashing………

Many of us have been affected by one or more of the above. And like the government and banks, we have been unsure which way to turn.  With the New Year starting, we are all a little wiser and reassured that things can only get better.

Today’s Market

The real estate market has been very prominent in the media over the last two years, with prices plummeting and record number of foreclosures.  The banks have never before had to deal with such volume of real estate on their books and this has in some cases been their downfall. 

We are continuing to see a high volume of Short Sale properties entering the market and there are still a number of realtors and banks out there still educating themselves to deal with the volume.  Wells Fargo, Bank of America and JPMorgan Chase are hiring and training more staff, developing software systems for expediting short sales and increasing their marketing of short sale options to delinquent borrowers.

Experts predict that this first quarter will see an increase in activity due to historically low interest rates and everyone trying to beat the $8,000 Tax Credit deadline of June 30, 2010.  Sellers will face a busier market as early as February. So now is the best time to sell your home.

Proposed Treasury’s Plan

The Treasury and the Government are now insisting that the banks need to get organized and do whatever is necessary to keep homeowners in their homes. They are proposing that the Treasury would pay up to $1,500 for a homeowner to relocate, $1,000 to loan servicing companies that accept a sale and a maximum of $1,000 to help settle a second mortgage or subordinate lien.  The lender must agree to release the borrower from all liability of repayment of the balance for the mortgage, under the proposed Treasury plan.

Tax Credit

The $8,000 tax credit certainly helped young and first time buyers get into the housing market.  The extension issued in November will help the market continue to move during the first quarter of this year.  Buyers are taking advantage of the Tax Credit and historically low interest rates. This will help reduce the inventory and stabilize the house prices.

Sarasota Market

In December 2009, Sarasota recorded the highest number of sold transactions since March 2007. Short Sales and REO/bank owned properties impacted the Sarasota market in 2009.  Distressed property sales accounted for 40% of all sales compared to 21% in 2008.

Foreclosure and Short Sales

An estimated 7 million foreclosures loom in the next two to three years, according to RealtyTrac.  Foreclosure filings are still up 18% from a year ago and a new wave is expected this year as unemployment remains high and borrowers fall out of loan modification programs. More than half of the loan modifications of delinquent mortgages re-default within a year, according to a report by the Office of the Comptroller of the Currency.  The underlying problems are still there so the foreclosure crisis is likely to get worse before it gets better. More than 14% of homeowners with a mortgage are either late on their payments or in foreclosure and that number is expected to keep rising as unemployment remains stubbornly high.

Short Sale properties can benefit a neighborhood because they clear out stagnant homes and bring in fresh owners with intentions of improving.   It also releases the homeowner from a lien(s) that they are unable to pay due to a hardship, without hurting their credit score too much.

Credit Score

A borrower’s credit history after a short sale is typically reported as “settled” and considered as severe as a foreclosure. According to Minneapolis-based FICO Corp, it may drop a credit score of 780 to 620. 

I hope this information has been useful to you. If you know someone that is struggling with their mortgage and a short sale may be the way forward. Please do not hesitate to give them our contact details.  We are happy to help!

Happy Holidays!

Murray Realty would like to wish everyone a Happy Holiday Season and a safe and Happy New Year!

Hurricane Protection

Are you protecting your home ??????

 
As we enter into the cooler weather and with it the end of the hurricane season, we can be thankful for a quiet year during 2009. Not once this year did we have to stop work at our job sites and prepare the half-built structures for a possible “big wind”. Not only is this good news for our tourist trade and local economy, but it allows the CAT Fund, underwritten by Florida taxpayers, to carry over to next year without paying out for a natural disaster. Yet more importantly, it is good news for all of those homeowners that live in our county and don’t have adequate protection within their homes to defend against hurricane force winds.

 
If you have ever seen first hand the absolute devastation following a major storm such as Andrew, Charley or Katrina, you would immediately take steps to inquire howyou could prevent that damage from happening to your home.

 
In a hurricane, the pressures on a house are enormous.  If a window or door breaches, it is the differential in pressure that causes a sudden rush of air into the house that then blows out garage doors, windows and French doors, lifts drywall from ceilings and causes roofs to fail with catastrophic consequence.

 
All of the waterfront homes that we have built since 2001, when the new impact code for new construction was passed, include the most stringent forms of protections against wind, weather and surge. Masonry and exterior frame walls have all been beefed up to withstand impact and uplift pressures; new construction homes are required to be built above the relevant flood plain, thereby combating flood waters and surges; but by far, the best form of protection for a house is to install either impact windows or shutters.

 
Impact windows are designed with toughened glass to protect against hurricane force winds and flying debris. In addition, they provide security against intruders, dramatically reduce outdoor noise and can filter out over 90% of UV light. The negative side to impact windows is the cost of the window itself and the cost of installation.
A versatile alternative is to install shutters on your home’s openings. Depending upon your budget, the design of your house and the ease of installation, there are many types of shutters to choose from including Lexan panels, rolling shutters, accordion shutters, Armor Screen and Bahama or Colonial shutters.

The evidence is clear. When news cameras flew over the devastation of Hurricane Charley, it was shockingly apparent which houses had been built to the new FEMA codes and which houses had no defense against the destructive 145mph winds.

 
Having just survived another hurricane season, now is the time to assess what you can do to ensure that your home survives many more.

 
Murray Homes is a Certified Building Contractor #CBC1250846

Sarasota market continues at a strong pace

Sarasota market continues to grow, showing nearly 36% higher sales than last month.  This in part is due to the stimulus of $8,000 tax credit to new homeowners.  Short sales and bank owned accounted for half of the single family homes sold in October and a third of the condo sales.

Statistics are pointing to the market, in initial stages of recovery.  Inventory is declining and at the lowest point since the boom ended.  The current time to sell a single family home in Sarasota, is approximately 9.3 months and condo 15 months.