Sarasota is found on Florida’s Gulf Coast. It is a beautiful part of the country and many people from places as close as Tampa Bay or as far as Phoenix have wanted to move here. However, Randy Benderson has recently picked up a significant news scoop that there has been a shift in the real estate market in Sarasota. Today, it seems investors are becoming more interested in commercial and retail properties.
Randy Benderson on Changes in the Sarasota Real Estate Market
The commercial real estate (CRE) market in Sarasota is very interesting. There are resorts and hotels, investment properties, retail units, industrial warehouses, office blocks, and more. It seems that, in the past five years or so, this market has boomed in the area. Sarasota is still like a little piece of heaven on earth as well, which means it is also very attractive for residential people.
Realtors are becoming increasingly interested in the CRE market, however. There are now also a lot of real estate developers, who are creating different strategies to make sure the area provides the functionality that is expected of a major 21st century city, while at the same time retaining its old town charm. To do this, Randy Benderson completed a study that demonstrated that what people look for in Sarasota is both a strong economy, and a fantastic view.
The market is becoming increasingly interesting, and there have been some significant offers available, whereby investors could purchase commercial properties here for as little as 80% of what their actual value is. And, since this raised interest so much, a lot of business shares also started to grow, bringing even more money into the economy as a whole. Within just a few years, some people were able to earn a significant amount of money, and they pumped this straight back into the Sarasota economy.
Benderson also noticed that there was a change in the labor market. A lot of CRE professionals, real estate professionals, financial experts, project managers, and accountants suddenly started to come to the area. The result of this is that the economic future of Sarasota started to increase as well. Unemployment rates have dropped significantly, and this has changed the face of the town. In the past, it was very much a retirement community, but it is now attracting young talent as well.
Although the economy is never 100% stable, it seems that making investments in the Sarasota market is a pretty safe thing to do. Additionally, starting a business in that area is also a very good idea. While, again, there are never any real guarantees, the economy is strong, the labor market is thriving, money is growing, investments are being made, and experts all over the country are keeping their eye on Sarasota. Whether you are thinking of starting a business, moving to somewhere nice for your retirement, or simply investing in property, it seems this once little Gulf town is the way forward.