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IBRE and Sean Dreznin are proud to present a 12+ unit apartment complex, located in a highly desired area of Sarasota, FL with water, downtown & sunrise views

Ian Black Real Estate and Sean Dreznin are proud to present a 12+ unit apartment complex, located in a highly desired area of Sarasota, FL with water, downtown & sunrise views

CLick Here <—-===== for more information

Sean Dreznin sells apartments

Sean Dreznin sells apartments

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Quay property in Sarasota, FL, for sale

Quay property in Sarasota, FL, for sale

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Date: August 15, 2013
by: David Conway

The door has opened for the sale of the former Sarasota Quay property, as the Irish government gained control of the land Monday.

The property at Fruitville Road and U.S. 41, once the planned home of an ambitious combination of residential, hotel, retail and office space, is now on the market after two years of litigation prevented any movement regarding the land.

sdreznin@naimanasota.com or 941-961-8199

“There’s no pressure whatsoever to sell the property,” Shelowitz said. “As the market continues to rise, and as the value continues to rise, eventually you’ll the type of offer that’s being sought.”

The property was up for auction to the public Monday morning, but no serious offers were made. That’s because National Asset Sarasota’s maximum bid of $50 million was disclosed to bidders, Shelowitz said.

For Complete article, CLICK HERE <——–==============

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Via the Longboat Key News — Colony owners vote, face town

Via the Longboat Key News — Colony owners vote, face town

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STEVE REID
Editor & Publisher
sreid@lbknews.com

It was a vote of affirmation for Colony Association of Unit Owners President Jay Yablon.
The beleaguered Yablon, who had been chastised the day prior at commission meeting for a lack of progress in redeveloping the 18-acre resort was re-appointed to his position as President and represents a clear majority of the owners.

In fact, the outcome of the vote reflects the very division between owners and ownership interests that Yablon must resolve before any redevelopment can occur.

The Colony is bound by condominium law in needing a 75 percent vote of its 230 unit owners in order to make any substantial material change to the property. Yablon said that of the five seats up for election to the 9-person Colony Board, all are in agreement to support JHM Financial Group. Yablon said on average the five candidates who won received anywhere between 95 and 111 votes. The five candidates who did not win received between 67 and 88 votes. Part of the redevelopment dilemma is that owner Andy Adams controls more than 50 votes and in the election did not side with the Association and Yablon, nor at this point is not aligned with JHM Financial Group. In fact, any successful redevelopment proposal will require successfully obtaining Adams’ support.

At the town commission meeting prior to the association vote last Monday, Colony founder Murf Klauber said he too, is supporting the efforts of JHM Financial Group, and believes an agreement is near.
“We had a group come in and they tried to destroy the Colony and they did destroy it, we built it and ran it and it is destroyed – it’s a fact,” Klauber continued, “I don’t have any money, and they’ve taken my home because it has mold. Let me see who I can blame, St. Denis, your attorney, your planning and zoning director. When I write the story, I’ll be a very lucky guy, I’ll probably get $10 for it. But at this particular moment, we may have the right group in JHM. I love Longboat Key, and I love The Colony. We’ve got to make it happen.”
Unit owner Elsie Kearns said that after a seven-and-a-half hour meeting with the developer, she has tremendous hope for the future.

Commissioner Jack Duncan said although he appreciated the “Kumbaya attitude” there still has not been any 75 percent approval, ever, of anything, by the unit owners.
Yablon told the commission that JHM will not agree to any contract until the board can gain the necessary vote.

….

At one point, redevelopment task force representative Tom Aposporos suggested the town stop grandfathering the tourism units, take them back, and hold a referendum to reallocate them as the commission sees fit.
Many unit owners after the meeting said that any move by the town to take away the tourism units would be met with litigation. One owner said that The Colony had operated continuously with the same number of units for 40 years and that because the town failed to reflect this reality in its zoning codes, is the fault of the town and not the owners of the resort.
For the time being, Yablon said he and JHM will continue negotiating to get past the 75 percent threshold.

For the complete article, click here —–>

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New Boutique Real Estate Company opens for business in Sarasota area

New Boutique Real Estate Company opens for business in Sarasota area

Sand Dollar Real Estate, serving Sarasota county.

Sand Dollar Real Estate, serving Sarasota county.

Serving various communities, including Siesta Key, Longboat key, lido, Casey Key, Bradenton Beach, Whitney Beach, Anna Maria Island, Downtown Sarasota, Hillview, Arlington Park, Gillespie Park, Lakewood Ranch, Gulf Gate and surrounding areas.

Click Here —–> To view Sand Dollar Real Estate

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Rent Prices Rising? Sinch that Belt another notch.

Rent Prices Rising?  Sinch that Belt another notch.

Representative apartment photo – Not specific to a complex or geographic area

From Anthony Homer Blog,

via Ted Jones Blog;

The dearth of residential construction in the past four years and a growing (albeit sputtering) economy, has set the stage for several years of rising rents—and in some locations SIGNIFICANTLY rising rents.  One of the mega themes I have addressed this past year in my presentations has been the trend towards more people becoming renters rather than owners.

24/7 Wall Street completed a study examining rental growth rate, home price changes from the peak and in the prior 12 months, and job growth in the price 12 months.

Data taken from Trulia found that in the 100 largest housing markets home prices increased slightly (yes—once again showing that the housing market bottomed last year) and rents increased more than 5 percent on average.  Six markets showed rents rising more than double digits. These markets are detailed in the following table.

The bottom line is that rents will continue to rise (as will home prices), which should make many renters consider becoming homeowners.

Owners of rental housing will see rising rental rates and values, once again.

From Anthony Homer Commercial Real Estate Blog

From Ted C. Jones real estate blog

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