Archives for August 2019

Conservation Foundation Protects 543 Acres in the Myakka Region

Tatum SawgrassAs aggressive development continues throughout the region, it has become imperative to protect our waterways, fragile ecosystems, wildlife and resources for future generations.  The Conservation Foundation of the Gulf Coast has worked diligently to protect and restore the core of the 2,500-acre Tatum Sawgrass marsh.

The plan hopes to reduce flooding downstream, increase habitat for animals such as the wood stork, deer, snook and even the endangered Florida panther, and overall, improve the health and vitality of Myakka River. Protecting Murphy Marsh is critical to maintaining the region’s water quality, as water flows off the land into the Myakka River and through the more than 40 miles of protected lands that buffer the river before it flows into Charlotte Harbor estuary.

Permanent protection of the 543-acre Murphy Marsh within Manatee County’s Myakka River watershed region was recently announced by the Conservation Foundation of the Gulf Coast.  This land is in the most threatened portion of the watershed and links three Myakka River conservation areas: the 1,143-acre Triangle Ranch, the 1,213-acre Lettuce Lakes property and Conservation Foundation’s newly conserved 38-acre Tatum Sawgrass Scrub Preserve. Conserving Murphy Marsh enables the core of the 2,500-acre Tatum Sawgrass marsh to be restored. This will reduce flooding downstream, increase habitat for animals such as the wood stork, deer, and snook, and improve the health and vitality of the Myakka River. The endangered Florida panther is documented as traversing the area.

Protecting large tracts of private property like Murphy Marsh is critical to maintaining water quality as water flows off the land into the Myakka River and through the more than 40 miles of protected lands that buffer the river before it flows into the Charlotte Harbor estuary.

The U.S. Department of Agriculture’s Natural Resources Conservation Service (NRCS) provided critical funding, and will hold the perpetual conservation easement and provide additional funding for restoration. This protection success was made possible by the William G. and Marie Selby Foundation, The Gardener Foundation, the Felburn Foundation, the Myakka River Fund of the Manatee Community Foundation, the Disney Conservation Fund, Skip and Janis Swan, and the Everett W. Erdoesy & Gretha M. Erdoesy Foundation.

“This is a strategic addition to our protected lands and an outstanding example of how Conservation Foundation skillfully collaborates with federal, state, and private organizations, and people to accomplish large goals,” notes Charlie Hunsicker, Director of Manatee County Parks and Natural Resources.

The Conservation Foundation is facilitating a landscape-scale restoration plan based on comprehensive hydrologic modeling of the entire Upper Myakka River watershed. The protection of Murphy Marsh is the essential link in this restoration plan.

The U.S. Department of Agriculture’s Natural Resources Conservation Service (NRCS) provided critical funding, and will hold the perpetual conservation easement and provide additional funding for restoration. This protection success was made possible by the William G. and Marie Selby Foundation, The Gardener Foundation, the Felburn Foundation, the Myakka River Fund of the Manatee Community Foundation, the Disney Conservation Fund, Skip and Janis Swan, and the Everett W. Erdoesy & Gretha M. Erdoesy Foundation.

Scene Magazine – SRQ July 24, 2019

Sarasota Home Prices Near Pre-Recession Peaks

Sarasota Home PricesAfter wild swings before and after the economic downturn, home prices are inching closer to their pre-recession peaks in the Sarasota-Manatee County region.

Single-family homes and condominiums sold for a median $260,000 in the two-county area during the second quarter of 2019, a 4% increase over the year, according to a new report from real estate researcher ATTOM Data Solutions.

That price is just 3% off the pre-recession median high of $267,500 set in late 2005, just before the housing bubble burst. The Sarasota-Manatee area is one of 31 metro areas among the 108 largest in the U.S. where home prices still fall short of their pre-bust pinnacles.

That’s no surprise, given how deeply local home prices plunged during the downturn. The median price hit bottom at $127,000 in early 2011, a 53% dive from the peak, ATTOM’s report shows.

After the recession, local prices rebounded to double-digit annual gains, but those have slowed in recent years.

“In the general housing market, all indices have been pointing to modest appreciation in accordance with historical norms of 3% to 5%, but not the accelerated rates we have experienced since 2012,” said Robert Goldman, an agent with Michael Saunders & Co. in Venice. “If sellers failed to recognize this shift, then a tug of war of sorts would arise, wherein it would take longer, on average, to sell a home, the spread between final sold price and original list price would widen, and inventory would increase with the potential for stagnant pricing. There appears to be a growing body of evidence for this.”

Asking and selling prices are in a state of flux here, he said. Single-family homes are selling at 89% of original list price and condos at 90%, less than the customary 92% to 93%. Residential sales that used to take 60 to 75 days to close now need 90 days.

“All in all, barring unforeseen events, we should settle into a neutral market, with modest and sustainable appreciation, provided sellers have realistic expectations, in alignment with where the market is, rather than where one wishes it to be,” Goldman said.

Sarasota-Manatee homeowners are holding on to their properties longer, an average of 8.25 years before selling. That compares with two to three years during the frenzied buying-and-selling before the housing crash.

Those homeowners who sold in the second quarter realize an average price gain of $63,198, or 32.1% from their original purchase price. That was 5% higher over the year.

Nationwide, home and condo sales rose nearly 11% over the quarter and 6.4% annually to a median $266,000 — a new price peak. Homeownership also hit a new high at an average 8.09 years.

“As warmer weather brings a rush of house hunters to the market, the latest spike in median home prices marked the largest quarterly increase since the second quarter of 2015 and the third-biggest increase since the market started climbing out of the Great Recession in 2012,” said Todd Teta, chief product officer at ATTOM.

In Sarasota-Manatee, cash buyers are still major players. They accounted for nearly 43% of all home and condo sales during the April-June period, the eighth-highest ratio among the U.S. metros studied. Nationwide, cash sales were down to a 25% share.

Sarasota Herald Tribune July 18, 2019