Across Southwest Florida, real estate agents are reporting sales, showing activity and buyer interest that suggests the region could be emerging from its real estate doldrums.

In January, Michael Saunders & Co.’s call center received 3,375 serious inquiries, “which matches almost exactly the call activity at the height of the boom,” said spokesman Tom Heatherman.

In January 2006, the center received only 2,310 calls.

Saunders closed on 134 units in October, but last month, it closed on 178.

Heatherman also noted that the average prices per unit sold are higher now at $679,733 than in January of 2005 or 2006.

Prospective buyers who have been sitting on the sidelines are coming back into the market and that is prompting more showings, said Annette Rogers, a Saunders Realtor.

“Sarasota didn’t have any hurricanes last year, the weather is good and they’re freezing in New York,” Rogers said.

The real estate community and buyers “are optimistic about Gov. Crist’s efforts to double the homestead exemption, make homeowners insurance more affordable and make the Save Our Homes tax cap portable statewide,” Rogers said.

Rogers thinks “home buyer confidence is up and people are taking advantage of this buyer’s market.”

Michael Moulton, Rogers’ partner at Saunders specializing in the luxury market, said buyers seem to think the market is stabilizing.

“They are making offers and are being tough negotiators, and motivated sellers are negotiating as well,” Moulton said.

Buyers and sellers are more able now to come to “a happy compromise about price,” he said.

Budge Huskey, chief executive of Florida’s largest realty brokerage, Coldwell Banker Residential Real Estate Inc., said that during the last two or three weeks, “there’s been a measurable spike in the number of calls and showings in most of our Florida markets.”

That kind of activity at the front end translates to written contracts within 30y to 60 days, said Huskey, who oversees Coldwell Banker from Sarasota.

“Electronic lead activity has been increasing since the first week of January,” he said. “Reports from associates around the state “reflect a surge in interest in the luxury, high-end sector.”

He sees inventory levels beginning to stabilize in several markets, and said the time when they begin to drop might not be far off.

“This reversal may prove the tipping point where there is a sense of equilibrium in the market and a return to normalcy,” Huskey said.

The “stand-off between buyers and sellers over perceptions of value has come to an end. Prices are dropping across all markets toward levels necessary to stimulate demand and offers,” he said.

Like Rogers, Huskey sees progress on the insurance front.

“Instead of front-page articles promoting hardships caused by triple-digit increases in premiums, coverage is now on potential rate reductions and opportunities for greater relief through national legislation.”

Again like Rogers, Huskey said that tackling the state’s soaring property taxes for people without homestead protection will help the real estate market.

“This step is imperative to ensure Florida remains the primary destination for second homes and investments,” he said.

Two Longboat Key-based Coldwell Banker Realtors, Judy Kepecz-Hays and Roger Pettingell, have together sold $25 million worth of property since New Year’s.

Kepecz-Hays found herself with a multiple offer situation for a penthouse at the Ritz-Carlton Tower Residences. The condominium sold for $4.45 million.

Coldwell agent Rick Greene says that “after having a great 2005, and a real poor 2006, I’ve had four contracts in January, of which two have already closed.”

He expects the other pair to close this week.

Joe Murphy, from Coldwell’s Creekwood office, also said his sales have picked up.

His showing activity has “increased to where I have as many showings in a weekend as I would have in a month compared with October or November of last year.”

Chad Roffers, president of Sarasota-based Sky Sotheby’s, also said activity has picked up.

Roffers said his company had $53 million in “pending” sales during January and another $16 million in just the first six days of this month.

At Sky, new recruit Cheryl Loeffler led the pack with $12 million in sales, including a $4.7 million sale on Lighthouse Point followed up with three gulf-front Longboat Key condominiums.

Roffers is seeing buyers coming from New York and Connecticut “who see tremendous value in our current inventory.”

Even some home builders are seeing an improvement.

Neal Communities sold 17 new homes in January, four more than during the same month in 2006, for an increase of 23 percent. The sales totaled about $8 million for the month.

The homes in The Harborage, Forest Creek, Wisteria Park, Edenmore, and Thornhill in the Country Club at Lakewood Ranch and University Park Country Club had an average sale price of $447,245.53.

Source: www.heraldtribune.com

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