Despite huge increases in prices, Sarasota, Florida, homebuyers are undeterred from wanting to buy homes, say local Realtors.

"Close to I-75 for access to Tampa, St. Pete, Bradenton, Sarasota offers access to many beaches, fine dining, major professional sports, live theater productions, golf courses, fishing, and it's located between two international airports," says Realtor BJBurnside. "With lower real estate taxes than nearby counties, Sarasota is the closest place to paradise with average temperature of 73 degrees year-round. The property values have increased up to 45 percent in the past 12 months. This is a very fast growing area for many reasons. The average price is $300,000 and there is very little inventory available. It is more important than ever to have a Realtor who specializes in the areas you are considering and may know of homes coming on the market not yet in the MLS."

Says Realtor Midge McCarthy, "The beauty of Sarasota will get your attention within moments upon your first visit! You can enjoy breathtaking sunsets, pristine beaches, educational museums, operas, ballets, plays, golf tournaments, and boat races. Residents from any neighborhood can enjoy the wide range of activities available throughout Sarasota. Whether your taste in art leans more toward circus posters, Rubens and Poussin, seashell creations, sand sculptures, or the new art of the Ringling School of Art students, it's here."

She continues, "Your hunger for theatre can be filled by the Foreign Film Festival, the Asolo Theatre Company, Florida Studio Theatre, Island Players, Lemon Bay Playhouse, or Theatre Works, for a start. If you want to add music to your diet, you could begin with the Florida West Coast Symphony, Key Chorale, Gloria Musicae, the Jazz Club of Sarasota, Sarasota Ballet of Florida, Sarasota Blues Society, Sarasota Opera Association, or the Sarasota Concert Band. You also have a large number of choices when you look for educational opportunities, spectator or participant sports, boating and other water activities, restaurant styles, museums, state parks, or fresh citrus."

McCarthy advises, "Where are your investments? Sarasota is continuing to maintain a very aggressive market at this time, properties are appreciating at historic proportions. In 2004 properties appreciated at 33 percent! Inventory is low and sellers are reaping the rewards. Sarasota, together with its neighbors to the north and south, Manatee County and Charlotte County, form the 7th-largest market in Florida. It is also Florida's third-fastest growing major market."

She continues, "With over 600,000 people, the Sarasota/Manatee/Charlotte area is one of the largest, most affluent markets in Florida. In the last 5 years, it has grown 4 times faster than the national average. The per capita retail sales are almost 20 percent above the national average. It has a strong base of retirement age people, about a third of the population, but the fastest-growing segment of the market is middle-aged adults and their children."

"Resale inventory is low so if you're thinking about selling now is a good time," suggests Realtor Glenda Franklin. "There are plenty of buyers as interest rates continue to be favorable. I'm seeing good buys available for first-time homebuyers, something that's been scarce in the past. There's lots of new construction in both condo and single-family homes. The market is hot, so don't wait to invest in your future. Sarasota is alive with activity, and there are good opportunities in downtown for pre-construction."

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Published: June 30, 2005

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