Home Sales in Sarasota Take Off in September, 2009

Sarasota home sales soared in September, 2009 surpassing even the most optimistic forecasts.. The median price pf homes and condos, being held down by foreclosures and short sales certainly helped produce the high volume the sales..

Real estate expert Barbara Corcoran on a recent Today Show declared Sarasota Florida to be the #1 city in the entire U.S. in which to buy a home right now, citing dramatically lower property prices (as much as 30% off the highs reached two years ago). The sales volume and reduced prices have resulted from lots of foreclosures and short sales in the area in recent months. Ms. Corcoran also noted, however, that prices have just begun to swing back upward.

She also praised the unique Sarasota attractions and amenities including sports, arts, cultural facilities as well as the excellent health care and schools in Sarasota Florida.

Sarasota home and condo property sales in September rose by nearly 35% in September 2009, compared to September, 2008, and nearly 10% over August of 2009.

Those who have been dreaming of one day owning a seasonal golf course or waterfront home for now, planning to move to Sarasota permanently when you retire, need to come to Sarasota right now, as Barbara Corcoran suggested, to see and take advantage of bargain prices that haven't been seen for several years.

Don't Lose Out on Your Capital Gains Exemption

For those who have already bought their retirement home or condo in Florida, it seems like an obvious move to change your legal residency to Florida to avoid paying income taxes on your earnings from up North. Many people do this even while maintaining their homes up North until they decide they are ready to move to Florida full-time.

But beware, you may be setting yourself up for a "big" tax bill.

The home seller's capital gains tax exclusion on the sale of your home up North is only applicable if that home was still your "principal residence" for at least 2 of the past 5 years before you sold it. Put simply, once you become a Florida resident, which is usually accomplished by doing things like registering to vote in Florida, registering your auto in Florida and then spending more than 6 months and a day in Florida each year, you only have 3 years to sell your home up North before the capital gains exemption on the sale of the home up North expires.

Once you lose that capital gains exemption, you will be hit with the standard 15% federal capital gains tax on the gain on the sale of that home as well as any state taxes that may also be due on that gain.

If you have questions or concerns about this, contact a knowledgeable real estate attorney or your accountant to assure that you don't give away a lot of money to your state and federal governments..

Sarasota Florida Ranks High as a "Smarter City

Sarasota Florida has just been ranked at the Number 4 spot on its list of the top small “Smarter Cities.” The rankings of :smarter cities" was done by the The Natural Resources Defense Council (NRDC). Sarasota was recognized for the quality of its air and water as well as its environmental standards and participation in programs like green buildings, green space and recycling. "Smarter Cities" are considered to be more efficient, more environmentally conscious,and cleaner and therefore more enjoyable communities in which to live.

Sarasota was scored by www.smartercities.nrdc.org, an NRDC-affiliated website. The city of Sarasota ranked 4th after Bellingham, WA, Mountain View, CA and Norwalk, CT in that order among "small" cities; those with populations between 50,000 and 100,000. No other Florida city made the top 10 list of "Smarter Small Cities."

The SmarterCities.nrdc.org website said “... Sarasota has involved its residents through environmental education at schools, community groups including the local women’s club and Boys & Girls Club, and outreach programs like Sustainability Advocacy Volunteer Educators, which provides green internships for high school and college students."

Sarasota had begun a water-quality program as early as 1989 in the interest of water conservation and protection. The city’s water system now reclaims 70% of waste water annually. Conservation-pricing is used to encourage consumers and businesses to use less fresh water. Lawn and garden watering is limited to one day per week.

Sarasota has even started a "rain-barrel demonstration" project at City Hall for watering flower beds without sprinklers, and created a how-to guide for residents to use at home. To protect local landscapes and irrigate efficiently as well as to promote native growth and wildlife, the city encourages Florida-friendly landscaping.

“The city’s Environmental Management Task Force was formed in 2007. In April 2008, the city created a full-time Environmental Services position. The city government now expedites permits for Green Development and Green Building.

A few examples:

• Since initiating a "tree-planting" program in 2000, over 100,000 trees have been planted in City right-of-ways. Sarasota has committed $1.5 million in the next 10 years to the "Green Canopy Partnership" tree-planting program.
  
• The North Sarasota Public Library was only the second library structure in the nation to be certified as a "Leadership in Energy and Environmental Design" LEED Gold structure for its use of low-VOC paint and carpeting, water-wise landscaping, and use of recycled building materials.
  
• The city government helped found the "Sarasota Bay Estuary Program," dedicated to protecting Sarasota Bay and its connecting waterways.
  
• Sarasota has a "Green Business Directory" giving visibility to those businesses which provide green products and services.

There is a lot to like about Sarasota Florida including its warm balmy climate, abundant sunshine, golf courses of every type and level of difficulty, soft white beaches, and a vibrant assortment of recreational and cultural activities for every taste and budget. Sarasota offers big-city amenities with a small-town way of life, but its also refreshing to live in a community so actively involved in assuring that the quality of life currently enjoyed by residents stays that way and even improves over time.