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- Our Flat Fee Programs List & Sell Your Home On MLS for as Little as $199! (Click here for more Details)
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Facts About MLS & Marketing Your Home with Shirley International Realty

- 4 Out of 5 Homes are Sold Through the MLS, or Multiple Listing Service.
- 80% of Buyer Are Starting Their Home Search Over the Internet
- Over 75% of Buyers Use a Realtor When Searching for a Home
- We Upgrade & Enhance Your Listing on Realtor.com (Read About The Most Shopped Real Estate Web Portal on the Internet..)

Please Call or Email Us Anytime with Questions Concerning the Sell of Your Florida Home, with Shirley International Realty Inc.. 941-448-4872

Sarasota real estate market at highest level since 2005

Property sales in May 2010 in the Sarasota market once again hit the highest total since 2005 and median sale prices continued the steady pace observed in recent months.

The 766 sales were the highest for the year, topping the April 2010 total of 757, and were the highest total since December 2005, and 51.3 percent higher than the May 2009 total of 506 sales.

Pending sales were once again strong, hitting 857, but were slower than April 2010. The March and April pending sales figures both topped 1,000, and reflected a last minute rush to beat the federal homebuyer tax credit deadline.

“The May 2010 statistics continued to show that the Sarasota real estate market is continuing a steady recovery,” said 2010 SAR President Erick Shumway. “We saw a slight dip in the pending sales, which will likely be reflected in the sales numbers over the next 30 to 60 days. But median sale prices are higher than last year at this time, and we remain optimistic.”
Members of the Sarasota Association of Realtors® sold 539 single family homes and 227 condos in May 2010, a huge jump over May 2009, which saw only 375 single family homes and 131 condos sold.

The median sale price for a single family home was also trending higher at $169,000, up 8.4 percent from last May’s figure of $155,000. For the last 12 months combined, the median sale price for single family homes was $165,000. For condos, the median price was $184,500, slightly higher than last May’s figure of $181,000, while the median sale price for condos over the last 12 months was $192,000.

The pace of sales quickened for single family homes, with the average days on market dropping to 168, from 195 days last May. For condos, the figure stood at 213 days, slightly higher than last May’s figure of 203 days.
The level of sales of distressed properties (foreclosures and short sales) rose slightly in May 2010 to 40 percent of the overall market, from 38 percent in April 2010. The distressed market topped 48 percent in late 2009, so the overall trend remains downward – a good sign for a market returning to normal.

The property inventory level remained steady in May 2010 at 6,094, which is the lowest level since late summer of 2005.
The months of inventory for single family homes in May 2010 dropped to 7.2 months, the number of months it would take to sell all available homes at the current pace.

This was a significant drop from May 2009 – 14.3 months – and very near equilibrium. For condos, the figure fell to 9.7 months, much lower than last May’s figure of 19.0 months. Once the market reaches the 6 month level it is considered to be in equilibrium between a buyers and sellers market.

Justin Shirley
CEO
Shirley International Realty
941.448.4872
www.JustinShirley.com

Congratulations to Justin Shirley & Shirley International Realty, as he represented buyers of Ritz Carlton Beach Residence Penthouse Unit# 1207 on Lido Key, Sarasota, FL.. The asking price for this condo was $3,500,000, & Shirley International Realty successfully negotiated a “Fully Furnished” purchase price of $2,850,000 for his clients. The purchase closed 12/31/2009. This represents a valueable purchase in Ritz-Carlton’s 5-Star development. Below are Marketing Details of the Condo:

1300 Benjamin Franklin, #1207
Sarasota, Fl 34236
4,530 Square-Feet

“Penthouse in the SKY” Managed by the Ritz-Carlton.  Truly a “one of a kind” design! From the moment that you park in your private garage, step into your private elevator that opens into your private lobby, you will be mesmerized with the magnificent ever-changing Gulf of  Mexico, spectacular sunsets and captivating bay and city views. Three bedrooms, family room, and  office 4530 sq. ft. with  10’8″ ceiling heights (except where dropped). Kitchen with  luxurious custom cabinets, granite countertops, Stainless steel  appliances, breakfast bar.  This is a word class ocean-side residence complete with the security of a private gated entrance, in house concierge service, heated Pool, Spa, and a summer kitchen on your private terrace.   The Beach Residence shares the same privileged location as the Ritz-Carlton Members Beach Club conveniently accessed by a covered walkway.  The Beach Residence is only a short distance from Sarasota’s quaint downtown area, cultural and entertaining venues, restaurants, shopping and within walking distance of famous St. Armands Circle.

For  Questions or Interest in Purchase of Luxury Condos in Sarasota, Fl, Contact Justin Shirley @ 941-448-4872

Click on Thumbnails below to expand photos of the Interior of this Luxurious condo

Need Help with a Short Sale on Your Home??
Call Me: 941-448-4872
                                          

WASHINGTON – Dec. 7, 2009 – Even before the government put pressure on them to embrace short sales, more banks were starting to take their lumps, do the short-sale deals and move on.

Three years into the housing meltdown, short sales have tripled to 40,000 in the first six months of 2009 compared to the same time period a year ago, according to data from the Office of Thrift Supervision and the Office of the Comptroller of the Currency.

Wells Fargo, Bank of America Corp. and JPMorgan Chase & Co. this year have hired and trained more staff to handle short sales and also developed software for expediting them.

“It’s really finally dawning on banks that they’re better off with a short sale,” says Richard Green, director of the Lusk Center for Real Estate at the University of Southern California in Los Angeles. “I think banks were in denial.”

Source: Bloomberg, John Gittelsohn and Margaret Collins (12/4/2009)

© Copyright 2009 INFORMATION, INC. Bethesda, MD

Justin Shirley
CEO
Shirley International Realty
941.448.4872
www.JustinShirley.com

(Foreclosures Fall.. And Florida Looks like this.. Life is Good & Getting Better)

Foreclosure filings fall 8% in November

WASHINGTON (AP) – Dec. 10, 2009 – The number of homeowners on the brink of foreclosure fell in November, the fourth straight monthly decline, as mortgage companies evaluated whether borrowers were eligible for help.

Nearly 307,000 households, or one in every 417 homes, received a foreclosure-related notice in November, down 8 percent from a month earlier, RealtyTrac Inc. said Thursday. Banks repossessed about 77,000 homes last month, down slightly from October.

Millions of borrowers are still being evaluated for the Obama administration’s foreclosure prevention effort. States are also trying to delay the foreclosure process, temporarily lowering foreclosure numbers.

But the foreclosure crisis is likely to get worse before it gets better.

“We don’t really believe the underlying problems have been resolved,” said Rick Sharga, senior vice president at the Irvine, Calif.-based foreclosure listing service. Many borrowers, he said, “simply aren’t going to qualify” for help.

Foreclosure filings were still up 18 percent from a year ago, and a new wave is expected next year as unemployment remains high and borrowers fall out of loan modification programs.

Nevada posted the nation’s highest foreclosure rate, followed by Florida, California, Arizona and Idaho. Rounding out the top 10 were Michigan, Illinois, Utah, Maryland and New Jersey.

Among cities, Merced, Calif. had the highest rate, with one in 83 homes receiving a foreclosure filing. It was followed by fellow California cities Stockton and Modesto, and Cape-Coral-Fort Myers, Fla.

Las Vegas, which had been No. 1 on that list for four-straight months, fell to No. 5. Nevada recently adopted a program that requires mediation before banks can seize a property.

Nationwide, a report Wednesday showed only about 10,000 homeowners received permanent loan modifications this fall under the Obama administration’s mortgage relief plan, more evidence of serious failings in the government’s effort.

Elizabeth Warren, chair of a watchdog panel, told reporters that the program is “not working” and that it had failed to make a dent in the record level of foreclosures. More than 14 percent 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.

The Treasury Department is expected to release updated figures Thursday, but data through October showed that fewer than 5 percent of homeowners who completed the trial periods had their mortgage payments permanently lowered to more affordable levels.

Under the program, eligible borrowers who are behind or at risk of default can have their mortgage interest rate reduced to as low as 2 percent for five years. They are given temporary modifications, which are supposed to become permanent after borrowers make three payments on time and complete the required paperwork, including proof of income and a hardship letter.

Copyright © 2009 The Associated Press, Alan Zibel, AP real estate writer

September sales skyrocket as market approaches equilibrium
 
Real estate expert Barbara Corcoran listed Sarasota as the number one place in the nation to buy a property in her latest “hot market” prognostication. She cited the lower property prices – 30 percent below last year at this time – combined with a recent price surge of 13 percent in the last quarter, plus Sarasota’s unique “metropolitan” cultural appeal for boosting this area to the top spot.
 
On the Oct. 6th Today Show, Corcoran said Sarasota was the top place to buy real estate in the nation today, an opinion shared by SAR and most area real estate professionals.
 
As a confirmation of Corcoran’s report, home and condo sales jumped by 35 percent in September 2009, compared to the same month last year, and 9.7 percent from the August 2009 stats in the Sarasota market. Total sales stood at 554 in September, compared to 409 total sales in September 2008. The breakdown was 399 single family homes and 155 condos sold last month.

 
Sales in September 2009, traditionally a slow month at the end of the summer, were unexpectedly higher than in August 2009, perhaps signaling an early end for the traditional slower season as we head into a hoped for robust fall and winter.
 
The median sale prices continued to be held down by the high number of bank-owned property sales and short sales, which accounted for half of the single-family home sales and a third of the condo sales. But the “discount rack” is beginning to thin out, and once the bargains are gone, there is the potential for price appreciation on a stronger scale. The median sale price for single family homes was $165,000 last month, up slightly from the previous month, but down 21.8 percent from a year ago. The condo median sale price was $162,500, down significantly from September 2008′s $190,000 figure.
 
The future price trend might well be upwards, as about half of the single family sales and one third of the condo sales involved short sales and foreclosures. Once these distressed properties are off the market, the normal, arm’s length sales should bring the median prices to higher, true value levels.
“We certainly agree with Barbara Corcoran, and her conclusions are what we’ve been saying for many months,” said Bill Geller, 2009 SAR President. “This is an amazing time to buy Sarasota properties at prices not seen since the early 2000s, or even earlier. But the public needs to understand – these prices won’t last. Once the market reaches equilibrium, and we’ve exhausted the distressed property pool, we will start to see more and more multiple offers on choice homes.”
 
The $8,000 first-time homebuyer tax credit was one of the factors in the recent market resurgence, which produced sales in September that nearly topped the 600 level for the second time in 2009. In addition, investors seem to have returned to take advantage of the price drops. Pending sales in September have also continued to show strong levels – very near the 800 mark – as the real estate market recovers after a two-year recession.
 
Pending sales have now exceeded the 800 level for seven out of nine months in 2009, after lingering in the 400 to 500 per month range for much of the previous two years. The statistic is a strong indicator for the next two or three months of sales, when many of these pendings will become closed sales. Pending sales are sales where an offer has been accepted during the month, but the sale has not yet closed. Even though some pending sales never close, pending sales are an indicator of current buyer activity.
 
Most of the statistics continue to point to a market in the initial stages of recovery. Inventory levels continued to decline and are now at the lowest point since the boom ended – a good sign for a market in recovery. There are now only 3,915 active single family listings and 2,337 active condo listings, figures not seen since August 2005 and earlier when the boom first started.
 
The “months of inventory” – the number of months it would take to sell all the available properties at the current sales rate – was down for both single family and condos. The figure is 9.8 months for single family and 15.1 months for condos. A figure of 6 months is considered to be a market in equilibrium between buyers and sellers.
 
Sarasota Association of REALTORS®

Unbundling the Real Estate Transaction:
Providing fee-based services as a real estate consultant
Julie Garton-Good, DREI, GRI

As a broker of twenty-five years, I’ve always had a problem with how our industry is designed. We spend eons of time consulting with buyers and sellers-for free. We receive no up-front fees, even though we’re expected to expend hundreds of dollars per listing (our stock in trade, even though we have no control over it) just to make the phone ring (as well as appease the seller, even though he has no earthly idea what goes into a marketing campaign!) We then spend dozens of hours each month driving buyer prospects around educating them, often to have them purchase from someone else–oftentimes a for-sale-by-owner. And last, but certainly not least, there’s the concept of service — we service the seller, we service the buyer. We provide service at every turn, hoping that the consumer will see value in all this service and reward our efforts by selling or buying with us. Then, and only then, do we get paid.
Correct me if I’m wrong, but is it likely that Bill Gates or Mary Kay Ash would use our current real estate sales model to design a multi- billion dollar business empire? No, I don’t think so either.

SERVICE DOES NOT EQUATE RESULTS

I believe that too much service may be part of our industry’s problem. Think about it — that which is readily available and given freely is often discounted. And are there times when too much real estate service could actually break down communications with the consumer, causing us to move away from, instead of toward, results?

Let’s say that you’ve had a seller listed for four months with very few showings. You service the seller, ad nauseam, mailing ads to him, calling on a weekly basis — even holding a broker’s open. If you could just get an offer on the home, you think you could sell it to the owner. After all, you’re keeping him informed with copious service.

While all this is happening, the seller is thinking, “If that agent would just DO something to get this house sold! He keeps sending me all this mail, but I’ve yet to see even one offer.”

Extended into the future, the seller is likely to change companies, assuming that the first agent/company was incapable of achieving the seller’s desired result of selling the house.

True, sellers don’t really understand what we do. But perhaps part of our problem as professionals is that we haven’t prioritized the aspects, of our business that SHOW value. We’ve been “majoring in minors” as the phrase goes; and we’ve awakened to a brave, new world where cheaper, more flexible, online products are empowering consumers and replacing much of what we’ve previously done as real estate agents.

AGENTS GIVE SERVICE: CONSUMERS WANT RESULTS

One reason our current real estate model is irreparably broken is that we erroneously equate service with results. In today’s “one size no longer fits all” environment, this couldn’t be further from the truth! That shop-worn yard sign on the seller’s lawn does no good for the agent’s/company’s image. In fact, it screams that “we haven’t gotten the job done–but we’re servicing you to death in the meantime!”

You’re probably saying, “‘Julie, this is the way we’ve always helped people sell and buy real estate!” While it may be the old way, it ain’t the only way! What if we could throw out the non-productive activities (those that could be done by someone else, maybe even the seller) like showing the house, in exchange for concentrating on our professional, personal, high-level talents like negotiating and troubleshooting the sale? If you had an ironclad agreement with the seller, what would be the harm in having him show the property — (being the one to announce to potential buyers “this is the kitchen”.) especially if it could free you up to render higher-level, more personalized, more valuable skills — and get paid for them?

“What about the control issue?” you ask. Wouldn’t the seller and buyer find a sneaky way to get out of paying the fee once they got together? (I’d retort, “And they don’t now?) It’s been my experience that far fewer people haggle with professionals whose performance is incumbent upon a high-skill level (like a brain surgeon, or a CPA defending you against the IRS) especially when the skills can’t be duplicated by automation or technology. That professional has a much easier time getting paid and perfecting a niche as an invaluable, and necessary piece of the business puzzle in the new millennium.

OUR SKILL MODEL IS UPSIDE DOWN!

In fact, when you look at what we charge for (showing the house, servicing the seller, driving buyers around) it’s no wonder our industry is in a state of turmoil. If you turn the skill model upside down, we should be giving away what we’re perceived as charging for, and vice- versa! For example, instead of “throwing in” the negotiating and advocacy services and burying them deep in the added-value aspects of working with an agent, we should reframe them, prioritize them, and CHARGE for them! (Wow — what a novel concept — getting paid for our skills!) Contrarily, we should avoid, delegate, and/or reprioritize those activities (like showing property, driving buyers around, etc.) that could be performed by the seller, a licensed personal assistant, or a chauffeur. (When was the last time you saw your attorney escorting his client to court?) Then, and only then, will our skills be taken seriously and adequately compensated.

ONE SOLUTION: REINVENTING OURSELVES AS CONSULTANTS

WHAT  CONSUMERS’  WANT  AND  DON’T  WANT  FROM  US

Consumer Reality #1: Sellers don’t care about service.  If working with an agent didn’t result in a successful sale (i.e. generate results) service was valueless.

Consumer Reality #2: Our skill model is upside down.  When asked what segments of the agent’s skills/services were deemed most valuable to the consumer, 85% rated the CMA (Comparative Market Analysis) as the most vital tool—far overshadowing the obvious people-related, strengths of negotiating and counseling.  The industry lesson is that we have not properly showcased the value of one-on-one skills to the consumer; in other words, that which is not differentiated or constantly visible is discounted (like late-night negotiating with a buyer.)

Consumer Reality #3: Consumers want what they want, when they want it and will gravitate to the most cost-effective source to obtain it.  Why?  Because our “one-size-fits-all” approach to working with sellers and buyers is archaic and won’t allow consumers to access various segments of help they need in a timely fashion.  That’s why .com web start-ups are finding a receptive audience in real estate consumers and why for-sale-by-owners are burgeoning.

HOW   DO  WE  START  TO  UNBUNDLE  SERVICES?

The easiest target, fastest-growing target for unbundling services is also the most overlooked and under-serviced—FSBOs.  The buoyant real estate market of the past several years has drawn us to more lucrative targets for listings and sales.  But the prediction is that for-sale-by-owners will double in the next ten years to comprise as much as 40% of all properties for sale in the marketplace.  That’s a statistic to pay attention to.  And even if online services help FSBOs to lease signage, write ads, etc. there’s still money to be made offering those personalized services of negotiating, advocating, and troubleshooting the transaction.

DO  THE  MATH  AS  A  REAL  ESTATE  CONSULTANT

Crank out your calculator.  How many hours would it take to negotiate between the FSBO and a qualified buyer and monitor the sale to a successful closing?  My research shows a median timeframe of ten hours for these tasks.  What if the parties to the transaction were willing to pay you, say (for the purpose of example only) $150 per hour, capped at a maximum fee of $1,500?  And what if they’d give you a $500 retainer against that fee? (passed through your broker’s escrow account, of course.)  So on a 50/50 split with your broker, you’d gross $750 per FSBO  transaction as a consultant.  And if you closed just two of these assignments per month, that would be an extra $18,000 a year!  Certainly nothing to sneeze at and a professional activity that mixes well with commissioned-sales business.  (And don’t forget that satisfied FSBOs are an especially good source of recommending you to others.  After all, they’ve won, so they’re willing to help you win.)

EASE  IN  WITH  CONSULTANCY  AS  AN  ALTERNATIVE  CHOICE

 Yes, most real estate markets are booming (but predicted to soften.)  And, yes, it’s true, most of us would rather have a root canal than spend time hammering a FSBO to list.  But what if in lieu of listing, a consumer would choose to actually pay us for services rendered? Would that be worth the effort?

 Give it a try the next time you have the opportunity.  Offer it to a FSBO as an option to a formal exclusive listing (after receiving the blessing of your broker, of course.)   In my experience, you’ll receive one of two responses from the consumer:  1.  “Read my lips, I want to sell my house myself.”  Or,  2. “That’s interesting.  It could be exactly what I need.  How much will it cost?” 

WHAT  TO  CHARGE  &  HOW  TO  DECIDE

 Now for the question every one wants a panacea to—how much to charge.  The answer?  Ya gotta figure it out for yourself.  (Not what you want to hear; but truly what you NEED to hear.)   Why?  Because one of the beautiful things about being a real estate consultant is determining the TRUE value of your expertise.  We’ve long been slotted as “just another real estate agent, charging the same X percent.”  Now (using much more than fee differentiation) we can niche our market by being the best at a certain task while being rewarded in proportion to our ability—much like the CPAs and attorneys you refer business to.

 When deciding what to charge, you first must determine the:

1) skill level required to perform the service (broker, agent, licensed/unlicensed assistant?)
2) cost of any new training required to satisfactorily do the job;
3) per hour dollar-value of the person performing the task (allowing for a factor of  “lost opportunity” time that could better be spent doing or developing other higher-paid opportunities); and
4) block of time it would customarily take to perform the unbundled activity (including a factor for additional administrative or clerical assistance, cost of supplies, technology required, and more.)

ANALYZE  RESULTS

After performing this cost-analysis gyration, a broker/agent might find that it:

1) is unrealistic that a consumer would pay enough for the unbundled service to be profitable to the brokerage;
2) could work financially, but not with top producers; or
3) could make financial sense to begin the unbundling process with “troubleshooting-the-sale-services” for FSBOs, using existing administration personnel. 

The alpha and omega is the principal broker.  He/she not only makes decisions for the brokerage about whether unbundled services is a logical fit for the brokerage, but typically dictates the services offered and a range of fees for those services.

BOTTOM  LINE:  CONSUMERS  WILL  GET  WHAT  THEY  WANT

The good news is that consumers want what they want and will compensate experts who provide it to them.

The bad news is that real estate consumers want what they want and will gravitate to professionals who provide it.  And since the real estate industry is the last of  the financial industries to unbundle services, it’s merely a matter of time before empowered consumers vote with their feet, and their wallets, in the move to unbundled, results-oriented, cost-effective real estate answers.

Julie Garton-Good, DREI, is an international speaker and author of five books on real estate, most recently “The Frugal HomeOwner’s Guide to Buying, Selling, and Improving Your Home.”  The overview for her real estate consultant designation program, “Consumer-Certified Real Estate Consultant™” (C-CREC™) through the National Association of Real Estate Consultants® (NAREC®) can be found at www.juliegarton-good.com

HYATT SIESTA KEY BEACH IS NOW OPEN. SCHEDULE A TOUR TODAY!  Your dream of a home on Siesta Key Beach is now a reality! Hyatt Siesta Key Beach is the first luxury fractional ownership resort to be built in this area. You will be astounded by the level of luxury and attention to detail we’ve built into every single facet of Hyatt Siesta Key Beach. From the custom furnishings and top-of-the-line appliances to the lavish bed linens and legendary Hyatt Signature Service, we’ve overlooked nothing.  We have provided an enviable lifestyle on a beachfront property. Everything you would expect in a multimillion-dollar beachfront condo – at a fraction of the cost

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How to beat the $8K tax credit deadline

CHICAGO – Sept. 28, 2009 – It’s not too late for a determined first-time home buyer to take advantage of the $8,000 federal tax credit, which expires Nov. 30.

Scott Voak, a San Diego practitioner specializing in first-time buyers, helps potential buyers target homes that can close quickly. To identify those properties without touring them, he suggests contacting the listing agent with blunt but important questions that aren’t usually addressed in the listing. These can include:

• Is there mold?
• Does the home need extensive repairs?
• Does the home have aging systems or appliances?
• Are there any troublesome neighbors?

Buyers should factor in these questions before making an offer:

• How long has the property been on the market?
• Have there been any price reductions?
• Are there any offers written on the property?
• Do the home owners need to move by a specific date?

Other recommendations include:

• Provide buyers with as much information about financing as possible.
• Encourage buyers to begin the process right away.
• Make sure buyers understand who is responsible for closing costs.

Source: Move.com, Scott Voak (09/23/2009)

Justin Shirley
CEO
Shirley International Realty
941.448.4872
www.JustinShirley.com

ORLANDO, Fla. – Aug. 31, 2009 – International home buyers make up a significant part of the Florida real estate market, and are an important part of many Florida Realtors®’ businesses. According to a study conducted for the Florida Association of Realtors® (FAR) by the National Association of Realtors (NAR), a majority (54 percent) of Florida Realtors worked with an international client within the past 12 months.

The typical Florida Realtor participating in the survey worked with three international clients; 10 percent of respondents worked with 11 or more international clients in the past year.

Not all client interactions result in a transaction. In the past 12 months, 34 percent of Realtors who worked with international clients reported that none of their international clients purchased a home. However, this does not mean that those international clients will not ultimately buy in Florida.

Other study highlights:

• 86 percent bought an existing home, while 14 percent opted for a new home.

• 52 percent chose a single-family detached home. Of the rest, 34 percent chose a condo, 76 percent a townhome, and 7 percent “other.”

• One in four buyers (27 percent) bought a home in South Florida, while Bradenton-Sarasota-Venice and Orlando attracted 11 percent each. However, one-third (32 percent) of foreign buyers purchased a home outside Florida’s top six metropolitan areas.

• One-third of buyers (35 percent) who eventually decided to walk way did so, at least in part, because of property tax costs; while 31 percent cited immigration laws that prevent year-round residence. While Floridians balk at the cost of property insurance, however, only 20 percent of immigrants listed that as a reason to walk away.

 2009 Florida Association of Realtors