Signature Sotheby’s International Realty, the luxury real estate firm based in Sarasota, Florida, today announced that the Sotheby’s International Realty brand won Franchise Business Review’s Best in Category for Real Estate Franchisee Satisfaction award for the third year in a row.
The Best in Category award measures franchisee satisfaction with their franchisors and is part of the 5th annual Franchisee Satisfaction Awards presented by Franchise Business Review. Sotheby’s International Realty Affiliates LLC also was ranked third overall among all franchise categories with more than 200 locations. This is the third year that the Sotheby’s International Realty brand was rated in the top 10 of all award categories.
“We are so honored to receive this recognition for the third year in a row,” said Michael R. Good, president and chief executive officer, Sotheby’s International Realty Affiliates LLC. “It demonstrates we are continuing to provide our franchisees with the support, tools and resources they need to excel. The fact that this award is based on direct feedback makes it very significant for us and a true testament to the value we provide our members.”
Franchise Business Review surveyed franchisees from more than 500 leading systems, representing more than 100,000 franchisees, for the 5th annual Franchisee Satisfaction Awards. Franchises were evaluated in five areas: training and support, franchise system, franchisor/franchisee relations, financial opportunity and overall satisfaction. Additionally, demographic and lifestyle questions gave a 360-degree view of the franchise ownership experience. Franchise Business Review is a national franchise market research firm that performs independent surveys of franchisee satisfaction and franchise buyer experiences. For a complete list of this year’s award winners, go to www.FBR50.com.
“We have surveyed thousands of franchisees, representing almost all of the leading brands in the real estate sector,” said Eric Stites, president, Franchise Business Review. “The Sotheby’s International Realty brand’s owner satisfaction is exceptionally high and a direct reflection of the unique business opportunity created by their team and parent company, Realogy Corporation.”
“This brand offers our firm the support we need to reach a global audience and provide our clients with the best possible service,” said Judy Green, Broker/Owner. “With the Sotheby’s International Realty brand behind us, we are building a solid foundation for success in the Sarasota and Manatee county markets.”
Signature Sotheby's International Realty supports Sarasota Habitat for Humanity.
As part of its continued commitment to support the local community, a team of volunteers from Signature Sotheby’s International Realty helps support Habitat for Humanity.
Nearly a dozen volunteers representing Signature Sotheby’s International Realty recently worked on their second Habitat for Humanity Home on Central Avenue. Director of Volunteers, Janet Pederson, coordinated the Realtors® to help with completing the roof and constructing the interior walls of this newly designed, Ringling style home.
“As an integral part of the local real estate community, it just seems fitting that Signature Sotheby’s International Realty sales associates are committed to giving back to the community and building this home,” said Charlotte Hedge, Signature Sotheby’s International Realty team member and coordinator for this project. “We will continue to help Habitat for Humanity as it now moves into the reconstruction stage. Government monies are now being spent to update and rebuild homes that have been deserted or are depressed. This new initiative will change the makeup of neighborhoods that have been living with this type of situation for some time now, and should increase the value of the homes in these communities.”
“Habitat for Humanity has always been very important to me throughout my real estate career, said Judy Green,” Broker/Owner. “It is all about giving back to the community. I am very pleased with our team’s continued involvement.”
To find out more information on supporting Habitat for Humanity in the Sarasota area please contact Charlotte Hedge at 941.350.0100 or charlotte.hedge@sothebysrealty.com.
Property sales in the Sarasota market were 58 percent higher in January 2010 than in January 2009, and pending sales were also strong, topping the 800 mark for the first time since October 2009.
In sharp contrast to the first month of last year, January 2010 saw 506 overall sales, compared to only 319 sales in January 2009. In addition, pending sales surged by over 10 percent from December 2009 to a total of 815. The statistic is a strong indicator for the next two or three months of sales, as pending sales are an indicator of current buyer activity. Last January, pending sales stood at only 683.
Median sale prices in the Sarasota real estate market dipped in January 2010 for both single family homes and condos. The median sale price for a single family home was $156,250, down from last month’s figure of $170,000, but up slightly over last January’s figure of $149,950. For condos, the median price dropped to $165,000 from last month’s figure of $199,000, and significantly lower than last January’s figure of $220,000. For the last 12 months combined, the median sale price for single family homes was $160,000, while the median sale price for condos was $189,900.
The January median sale prices generally reflect the continuing high percentage of short sales and bank-owned foreclosure sales in the Sarasota market. The January percentage of distressed sales rose to 48 percent, from December 2009’s figure of 42 percent. Two distinct markets remain in force in Sarasota.
Normal arm’s length property sales continue to show median sale prices roughly 150 percent higher than distressed property sale prices. Bank-owned sales are bringing in a median price of roughly $80,000, while for short sales the price is roughly $120,000. For normal arm’s length sales in January 2010, properties were sold for a median price of approximately $250,000 – more than double the prices for distressed properties.
“Our market is rebounding from the recession, particularly in the category of normal arm’s length transactions,” said 2010 SAR President Erick Shumway. “We are seeing a stark contrast between these two markets, and this probably reflects the fact that some buyers don’t want to wait for additional months often involved in closing a purchase of a distressed property. Also, the condition of normal, non-distressed properties can be far superior to the short sales and foreclosures on the market. Once the number of distressed properties begins to drop substantially, we should see the median sale prices start to recover.”
The first-time homebuyer tax credit, extended and expanded to include many other homebuyers on Nov. 6, should continue to help propel sales in the first quarter of 2010. The credit expires in April, and local Realtors® are working hard to ensure their qualified buyers can take advantage of the $8,000 and $6,500 credits.
The property inventory level rose in January 2010 to 6,342 from the December 2009 total of 6,020, an expected increase during the traditional winter months when many snowbirds return to the Sarasota area. But the inventory level remains at near the lowest level since late summer of 2005 and the years prior to the boom period from 2003 – 2005.
The months of inventory for single family homes was 11.5 months, compared to 25.3 months in January 2009. For condos, the months of inventory was 14.7 months in January 2010, compared to 38.4 months only a year ago – a remarkable improvement in the health of the real estate market.
Click HERE for the complete PDF version of the press release, along with two pages of statistical charts.
Truly special properties are different at every level, and they require real estate services that are as well. We take great pride in presenting to the world unique places and their stories, and in using our innovative marketing tools, our global network and our relationships with discerning buyers to perfectly match time-honored properties with those who will give them new life.
Over the years, our agents have developed innovative marketing tools and contacts with some of the most qualified buyers in the world. They have also developed an appreciation for the true value of beautiful things. Allow us to show you some of the special properties the Sotheby’s International Realty® network has recently represented.
We wanted you to be the first to see an electronic copy of TRENDS, a comprehensive real estate market analysis that we recently published. This report, offered exclusively by Signature Sotheby’s International Realty, provides a high-level summary of 2009 real estate sales in Sarasota and Manatee counties, as well as highlighting trends on the neighborhood level.
It is our hope that this will be a valuable guide for you in answering some of the most difficult questions you face when purchasing or selling a home. Such as, how much is my home really worth, what types of homes are selling the fastest in my neighborhood or what premium should I expect to pay to live on the water?
TRENDS was compiled from data available in the My Florida Regional MLS. We hope it will help enlighten you on general market conditions, but it should not be solely relied upon to determine a fair market value for any single property.
If you would like to discuss today’s market value of a particular property, we would welcome the opportunity to provide you with a more in-depth analysis.
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Truly special properties are different at every level, and they require real estate services that are as well. We take great pride in presenting to the world unique places and their stories, and in using our innovative marketing tools, our global network and our relationships with discerning buyers to perfectly match time-honored properties with those [...]
With 648 total property sales reported in December 2009, the Sarasota real estate market saw the most closed transactions since March 2007, a 33 month span. Overall sales in December 2009 were also 52 percent higher than December 2008, when only 406 properties changed hands, and 70 sales higher than the 578 sales reported in [...]
Cheryl Loeffler, an associate with Signature Sotheby’s International Realty, was recently profiled as a Donor of Distinction in PERSPECTIVES, a magazine published by the Ringling College of Art + Design. A reprint of the article is included below.
CHERYL LOEFFLER: Ringling’s Pied Piper
Cheryl Loeffler passionately believes in being involved.
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