We couldn’t be more proud of our Team Leader Angie Cegnar, as the guest speaker yesterday sharing her story on domestic violence to more than 250 people who attended the Women’s Resource Center’s Founders Impact Luncheon. Such a strong and inspirational woman! Read her story here on the front page of the Bradenton Herald!
After more than three years of inactivity since it was first approved, the Villages of Lakewood Ranch South project is beginning to move forward.
The massive housing and business development south of University Parkway and east of Interstate 75 overcame a significant barrier Wednesday, with the Sarasota County Commission’s unanimous approval of an amendment to its contract with project developer Schroeder-Manatee Ranch Inc.
“We can see the light at the end of the tunnel,” said Todd Pokrywa, vice president of planning for SMR.
The amendment to the 2010 agreement allows the developer to begin residential construction on the 5,500-acre project before some roadway improvements are completed.
SMR has committed to extend Lakewood Ranch Boulevard as a four-lane roadway from its terminus at Communications Parkway to Fruitville Road, extend Lorraine Road as a two-lane road from University Parkway to Fruitville Road and build an east-west connecting road from Lakewood Ranch Boulevard to Lorraine Road. It will pay the full cost of all three projects.
SMR has also pledged up to $7.5 million for another proportionate share road project with the county. The amendment approved Wednesday gives them the option of putting that money toward a possible east-west connector overpass from the Villages project over Interstate 75 and Cattlemen Road. Officials say that project could be an alternative to improvements to the interchange of University Parkway and Interstate 75 proposed by the Florida Department of Transportation.
The other option is for SMR’s $7.5 million to go toward construction of a four-lane Iona Road between Fruitville Road and Palmer Boulevard.
The Villages project has at least one more hurdle to clear: an amendment to the Development of Regional Impact plan SMR plans to file within a few months, Pokrywa said.
Lourdes Ramirez, president of the Sarasota Council of Neighborhood Associations, urged the commissioners to make infill development a first priority before allowing more growth eastward.
“The fact is, a lot of people travel here, but regional sprawl coming from Manatee is also the same as regional sprawl from eastern and rural areas of Sarasota County. They both will wind up clogging our roads,” Ramirez said.
Commissioner Joe Barbetta said the past three and a half years since the project was initially approved have been a “protracted process” and that he’s eager to see work begin.
“I’m very troubled that we’re not going to see a stick in the road for a long, long time,” Barbetta said. “We need to move things forward.”
Pokrywa said if the forthcoming amendment is approved, SMR could be ready to begin design and construction of required infrastructure for the Villages and thousands of new homes in late 2014 or 2015.
Article Courtesy of Bradenton.com
For more Information on buying or selling in the Lakewood Ranch, Bradenton and Sarasota Areas Call one of our experts now! 941-556-5030 or 941-266-3872
International real estate deals made up 8 percent of all existing homes sales in Florida over a one-year period ending in July 2013, according to Florida Realtors®’ recently released “2013 Profile of International Home Buyers in Florida.” By dollar volume, international real estate transactions made up 9 percent of sales over the same period.
The report is based on an annual study done by the National Association of Realtors® (NAR) in cooperation with Florida Realtors. A total of 977 Realtors responded to this year’s survey conducted July 9-Aug. 16, 2013.
For the study, foreign buyers were defined as non-resident foreigners – individuals who purchase property in the U.S. but live here only part of the year. These buyers typically use the property as a rental unit, vacation unit or both.
The international real estate market is important to Florida. Nationwide, 61 percent of all reported foreign sales take place in five states: Florida, California, Arizona, Texas and New York, according to NAR’s larger study on international homebuyer activity in the U.S. Of those five states, Florida has the largest share: 23 percent of national sales to foreign buyers closed in the Sunshine State.
For the 12 months ended July 2013, existing home sales in Florida – single-family homes, townhomes and condos – accounted for 327,350 transactions worth $74 billion dollars. Of that total, there were 22,572 transactions worth $6.4 billion dollars to foreigners.
Prices paid by non-resident foreign buyers tend to be higher than domestic buyers, though overall, international sales have been down due to the worldwide recessions, according to NAR.
- Two in three (63 percent) of Realtors in Florida have international clients, compared to the national average of 27 percent.
- Of the Realtors who have international clients, 33 percent (one in five state Realtors) said that international transactions made up 26 percent or more of their business compared to 12 percent of Realtors nationally.
- 80 percent of surveyed Realtors said that international clients found Florida property less expensive than similar property in their home country. Overall, foreign buyers say the U.S. residential housing market provides a good value.
- 31 percent of respondents say Florida’s percentage of international clients has increased in the last five years, compared to 21 percent at the national level.
- Canadians lead the way (30 percent of total Florida international sales) as the largest source of buyers, followed by Venezuela (8 percent), Brazil (7 percent), and the U.K. (6 percent).
- International buyers focused most of their effort in Miami-Miami Beach (21 percent of international sales in Florida), Orlando-Kissimmee (14 percent) and Fort Lauderdale (9 percent).
- International buyers paid a median price of $216,477 for a home unit in Florida compared to the state’s overall median price of $144,074, and the U.S. median price of $187,483. In general, buyers from Brazil, Venezuela and Western Europe purchased above the median price.
- 84 percent of international transactions are cash sales.
- International buyers had a preference for detached single-family homes (47 percent of Florida foreign sales), followed by townhouses (11 percent) and condominiums (34 percent).
Article courtesy of: http://www.prnewswire.com/news-releases/
If you know of anyone thinking about purchasing a holiday home/ vacation rental call us now for more information 941-266-3872
The C & G International Realty Team: Angela Cegnar/ Marty Garcia/ Nancy Curtis/ Theresa Shelley
Keller Williams Lakewood Ranch. Sarasota Real Estate Market