A GREETING FROM DERR & TORRINGTON

HOME: One’s place of residence, Domicile, house; the social unit formed by a family living together; a familiar or usual setting; congenial environment; the focus of one’s domestic attention; a habitat, place of origin, one’s own country, an establishment providing residence and care for people with special needs………..  Merriam Webster’s Collegiate Dictionary.

Even the word, “home”, when spoken softly and held for several seconds like a refrain at the end of a song or like the word “amen”, when said at the end of a blessing, has a warm and gentle sound. It is one of the most revered and meaningfully used words in any language.  It goes much farther than describing the primal need for shelter experienced by most creatures in the world.  It brings to mind the most vivid images and memories of our existence, our striving and our dreams.

In the profession that we embrace as residential Realtors, there is a deep and abiding respect for the significance of the home as the core concept of the familial unit.  Even in situations when we are dealing with investment properties, we recognize that ultimately the desire for “home” has motivated someone to acquire such a property.

Your trust in us has been well placed and accepted with a sense of responsibility and honor.  Each transaction is important and each client deserves the very best we have to offer.  We feel very fortunate to be able to say from our hearts that “we love what we do”, even when the job description includes “being all things to all people”.  We consider ourselves very fortunate to have worked with such fine clients over the 14 years of our partnership.

During this season of the year when the meaning of “home” is most significant, we wish you the time and opportunity to enjoy your home and family.

We send our warmest wishes for a healthy and happy 2007.

Terri Derr and Kennedy Torrington, P.A.

Michael Saunders & Company,  Chairman’s Circle

440 Gulf of Mexico Drive, Longboat Key, FL

941.387.9780 Direct   866.436.7198  Toll Free

LOCATION IS EVERYTHING. Imagine living in a gated golf course community that is the closest to the bay and beaches in south Sarasota.  The Oaks has this and much more to offer. Historically a favorite since the  Chicago Palmers lived here,  this upscale  neighborhood is one of the lovliest on the west coast. A brand new lake front listing views the Heron Golf Course from its location on a lush cul de sac. Offering a gracious open floor plan designed by Rutenberg, the nearly 3800 square feet of area has four bedrooms in addition to a den/library, large kitchen opening to family room and formal living room with fireplace and dining room.  The master suite is spacious and has a luxurious bath. Floors are marble and wood. The kitchen has granite countertops and wood cabinetry with a center island. A grand pool area with spa and summer kitchen enhance the al fresco lifestyle.  Other notable features include an invisable pet fence, satellite dish and paver drive circling a Koi pond with waterfall.  This light and bright home is beautifully presented and ready for viewing. Membership in the Oaks Club is a requirement for residency. ML332757  $1,295,000.

Terri Derr and Kennedy Torrington, P.A.  941.387.9780 or 866.436.7198 toll free.

As the saying goes, “Time and tide wait for no man”, so take time to learn of this incredible opportunity to own a gulf front property on this island known for its appeal to the high end market.  Just listed for sale, 721 Casey Key Road  is situated on one of the highest elevations with the most stable beach on the key. The recent survey confirms the lot is approximately 100′ wide and approximately 356′ deep. There is an existing concrete block and stucco house which has been gutted in preparation for using the foundation only as well as the pool for a brand new structure. The pool is on the gulf side of the structure.  All necessary permits and plans are available to begin construction now. The new  two story house has been designed by Clifford M. Scholz Architects and consists of 5700 + square feet under air.  Enormous savings of time and dollars result from the ability to begn construction at once on the foundation rather than driving pilings. The structure, beach front lot, plans and permits convey at a price of $2,995,000.  An additional dimension is added by the deeded easement to the bayfront across the street where a separate parcel is also deeded which supports a dock with lift on the bay. The cost estimate of construction of the new house is approximately $1,800,000.  This is a remarkable opportunity to have a new gulf front house for approximately $5,000,000. The architectural firm and building contractor are tops in their field and well versed in the Casey Key experience.

The house in “as is” condition could be remodeled without building anew, however; the highest and best use is to proceed with the plans and permits. The plans may be viewed by appointment with the listing agents.  Please refer to ML #332794.

Contact Terri Derr and Kennedy Torrington, P.A.  941.387.9780 or 866.436.7198 toll free.

The Sarasota Association of Realtors hosted  Dr. Lawrence Yun, Senior Economist, National Association Of Realtors last week and your Sarasota Nearly Native correspondent was in the front row to be certain nothing was lost in the translation. Economists are often accused of speaking a different language than most mortals. Thank heaven this sort of lecture is my favorite candy after a first career in finance and economics.

Dr. Yun was amazingly easy to understand and his presentation was assisted by easy to read graphs with illustrations of trends we were eager to confirm.  He reflected on the presence of international investors in our marketplace. Most of the international buyers  in Florida appear to originate from the U.K., Western Europe and South and Central America.  Their preference is logically for condominiums rather than single family homes and they are three times more likely to pay cash for their purchase.  While the Sarasota population is less than 4% of the Florida population, it draws 10% of all foreign buyers. Most foreign buyers are purchasing vacation or rental properties.

The Southwest Florida area, Sarasota, Ft. Myers-Naples, attract primarily foreign buyers from the U.K. and Germany.  Overall, the Sarasota picture reflects robust local job gains and the expectation that once the artificial demand and artificial supply brought by short-term investors is absorbed and the confidence factor stabilizes as people realize that the long-term fundamentals are solid, we will see prices perk up from the summer of 2007 and continue to outpace the national growth from 2008. This projection does have some dependence upon the mitigation of the insurance problem and the expectation of lots of help from internatinal buyers (look at the Euro!). All in all with the Florida population growing twice as fast as the U.S. figures and large numbers arriving in Sarasota, it is good solid news and confirms our optimism about this very special place we call home.

Opening Night Gala 2006 of the Historic Asolo Theater  was an overwhelming success and now the Gala Premier of the Artist Series of Sarasota hails an extensive roster of  programs for the 2006-2007 season.

If you missed the October 6, black tie event which included a performance staged in this grandly renovated treasure on the grounds of John and Mabel Ringling Museum of Art, rest assured you may still attend a performance by Kristin Clayton who joined Susan Graham and Jake Heggie on that remarkable evening. Miss Clayton returns to the Historic Asolo stage with renowned baritone (her husband) Bojan Kenzevic. Their program will include works by Mozart, Donizetti, and Rodgers & Hammerstein.

The evening will begin with a champagne toast and concludes with a post-performance dessert reception.  Tickets are $50, $45, and  $40 for either Sunday November 26 or Tuesday November 28.  Both performances begin at 7:30 p.m., and tickets are available at the Historic Asolo Theater box office: 941.360.7399.

Note from SarasotaNearlyNative: This evening rose to the historic event it honored in every way. The performances were incredibly powerful and the audience was breathless in appreciation of the energy and artistry of Susan Graham, Kristin Clayton and Jake Heggie.

Look forward to another performance to treasure at the Historic Asolo Theater on December 3.  “La Musica di Asolo” with Federico Agostini, violin; Emilio Colon, cello; and Derek Han, piano; at 4 p.m.  Tickets are $35- $45.  Call the theater at 360.7399. 

Have you ever entertained the notion of owning a beach cottage on an island that is steps from the wide sandy beaches of an enchanting island and the azure waters of the Gulf of Mexico? Who hasn’t had such a dream!

An intuitive buyer with great ideas purchased such a treasure recently. The cottage itself is in pristine condition and set in an award -winning, beautifully landscaped yard. With a distinct island personality on the outside, the interior has been redone with such upgrades as completely new kitchen, new paint, appliances and is immaculate. Two bedroom suites, light and bright, overlook the specimen plantings in the fenced backyard. There is also a gazebo with a spa for relaxing after the beach. Situated on the very northern tip of Longboat Key and a stroll to shopping, restaurants, galleries, etc., it offers every convenience. There is even a great breakfast place and proximity to the Longboat Key Art Center, gallery and studios. The new owner is turning the cottage into an upscale vacation get-away with new decor and it should be ready for occupancy soon. We will keep you posted and link the web site to Sarasotanearlynative.com when it is ready for bookings. This property was a “smart money” buy and originally listed at $699,000. The sale price was $525,000.

A quaint village on the bay with lots of history is also the location of one of the most beautifully conceived gated communities in the Sarasota area. The Oaks is a prestigious country club lifestyle that spans wooded bay side estates on the west side of the Tamiami Trail (U.S. Highway 41) to golf course frontage residences on the east. The Georgian architecture of the The Oaks country club is legendary and so is the architect, Harry (Bo) Mac Ewen. Known for its excellent cuisine and many interesting events, the Club is the heart of The Oaks. Recent renovations to the Club have brought it the forefront of an array of such private clubs in Sarasota. Tennis is another recreational amenity embraced by the members. The Oaks is the one of the only club communities with proximity to the bay, the other being the Longboat Key Club on the barrier island of Longboat Key.

Homes available in The Oaks range from just under $1million to $12 million. Choose the lifestyle you desire: single family residences, detatched maintenance free homes ( from the $500’s) and bayside condominium residences (from the $600’s) offering panoramic vistas to the Gulf of Mexico. Several remaining homesites offer the opportunity to build with the designer and builder of your choice. Lot opportunities (from the $400’s) exist on both the bay side and the club side.

This Sunday, October 1, 2006, we invite you to preview two properties in the Oaks Clubside. Please visit us at 490 E. Mac Ewen Drive listed at $995,000. This home is the newest residence in the Oaks Clubside priced under $1 million. Situated on .7 acre of magnificently landscaped golf course frontage, this four bedroom, four bath (3372 sf ) home offers the most wanted features. On request we will be happy to present another listing of nearly 4200 square ft overlooking the fourth fairway, lake and green of the Heron course. This former model is stunning and listed at $1,395,000. Membership in The Oaks Club is a requirement. Please ask us for details.

We look forward to seeing you this Sunday, October 1, 2006 between the hours of 1 and 4 P.M.

This morning as I set out for my walk, it began to rain a very light rain. My neighbor and his dog were just ahead of me and looked back to see if I was going to turn around and go back home in view of the threat of rain. “No turning around now”, I said, “this light rain will quit in a few minutes”.  My neighbor was not so optimistic about that and I mentioned that I had run miles in my racing days in heavy downpour and lightning to get to the finish line.  At the one-half mile mark, the intensity of the rain increased considerably, but so what; it’s only water and it actually felt wonderful.  Wearing my visor, I felt invincible under the circumstances.  A walk in the rain goes a long way toward clearing the mind, which is actually why I love walking without the accompaniment of music or audio books.  It’s a great time to think and there is  a lot to think about these days relative to the state of the economy, the real estate market and so forth.

Today the Dow Jones Industrial Average is flirting with a closing at an all time high and the statistics on new home sales for August were released at 10:00 a.m..  I am thrilled to see the Dow at this level because it gives a sense of well-being to investors and creates a ripple effect through the economy.  Analysts are saying the mega corporations are wealthier than ever, so much so that they are buying back their own stock and increasing the dividend rates (McDonald Corp.).  There is a pronounced flight to quality in the securities markets.  As for the new homes sales figures released this morning, it appears to be not quite as gloomy as many expected.  Some companies were actually showing increased sales in August after luring buyers with an array of incentives.  New home buyer’s agents were also being lured in the direction of new product by commissions above and beyond what most re-sale sellers are willing to offer.  This competition with new product incentives is a factor influencing the slower re-sale market.

All in all, it’s not a bad day when you can determine that at the core you are a confirmed optimist in the face of statistics that the “experts” re-work several times after the release to the public.  One hardly knows what to believe.  Be sure of this, however; Sarasota, FL and her tropically gorgeous barrier islands of Siesta Key, Longboat Key, Casey Key and Manasota Key are in the right place relative to the ups and downs of the real estate market.  Characteristically, it is among the last to feel a downturn and the first to recover.

So, I returned from my two and one half mile walk soaking wet and clearly optimistic. The sun is shining this afternoon.

Next, we will tell you another “Smart Money” story.

Yes, it is rather quiet now in Sarasota and this includes the famed barrier islands of Siesta Key, Longboat Key, Lido Key and Casey Key. The most noticeable quiet is apparent in the usually frenetic world of Real Estate. There are signs, however discrete, that there is business being transacted and I am here to report what some “smart money” is buying.

My partner, Ken Torrington, and I have been involved in several transactions that represent the purchase of second homes. One such purchase on Siesta Key was listed at $1,999,999 and closed at $1,875,000. It is a new home in a beautiful canal front location with dock and boat lift in place. Air conditioned area of 3600 square ft., pool, spa, summer kitchen and gorgeous fireplace under covered area by the pool. This is a three bedroom plus library/den and bonus room floor plan with stunning details: marble floors , granite kitchen, gas cooktop, butler pantry, wet bar, living room fireplace and family room with surround sound. The master suite has a sumptous bath, large walk-through closet with superb outfitting. An amazing feature is the “living porch” part of the lanai. This is recognized as a “most wanted” feature in many upper end products. It is also popular in other parts of the country. Believe it or not, fireplaces are extremely popular in Florida. The appeal is more emotional than practical and represents a sense of cozy “home and hearth”.

We are including some comments about our relationship as it developed with this wonderful family we were fortunate to serve:

“Thanks, Terri, and have a great holiday weekend. Phyllis and I have worked with too many real estate agents to remember them all, but what we will remember is the quality of your service, help, recommendations, assistance, cooperation and professionalism and how far you stood out past all of the other agents we ever worked with. I would be pleased to let you use this letter as a testimonial to the quality of the service you and Michael Saunders provided us.