3 Things Influencing Sarasota Property: Roger Weighs In On Important Trends
Roger Pettingell has had an astonishing career in Florida, and his expertise in the luxury real estate market is unparalleled. As the top-producing agent in Florida for Coldwell Banker Realty, he talks more about the trends influencing prices and driving sales.
According to realtor.com, Sarasota topped the list of cities that saw the highest amount of appreciation since the beginning of COVID-19. The numbers have been astounding for ordinary buyers without endless capital, and homes are selling at record rates in the entire county.
If you’re wondering what exactly is driving the numbers, it’s best to take your cue from someone who has seen it all before. Roger is an agent who specializes in luxury real estate in Sarasota and Manatee Counties, and he opens up about what’s going on behind the scenes.
A Surging Economy
From cryptocurrency to the stock markets, many individuals have had unexpected windfalls as of late. Higher 401ks and lower interest rates have all made for more disposable income, resulting in more buyers investing in luxury real estate.
A Different Focus
Health, family, and community: These have been the primary motivations behind luxury sales in Sarasota County. Rather than being hyper-focused on the kind of imported marble in the kitchen, Roger Pettingell says that buyers are more interested in how the location and amenities will contribute to their overall sense of wellness.
It’s worth noting that Baby Boomers are the primary market for luxury real estate, though older millennials are beginning to make a name.
This county is seeing a solid return of foreign buyers. Combined with the US’s low inventory and power players, it’s created a perfect storm across Sarasota. (One estimate reported that more than 70% of people with a net worth of over $5 million now own properties somewhere between $1 – $5 million.)
Is the Market a Concern?
Professionals in the real estate industry may understandably express concern when demand seems like it’s getting out of hand. However, Roger Pettingell notes the clear reasons behind why sales are surging. Once interest rates start to inch back up, the market should adjust based on the extra costs for owners.
For now, though, some buyers in Sarasota may need to put their dreams on hold or be prepared for compromises.
If people are worried about these trends on a general level, though, this market does have a significant difference between, say, 2008. Because property owners have more equity on average, they’re less likely to walk away from their purchase. It’s a safeguard that should help Sarasota County avoid an economic downturn.
Roger Pettingell at Work and Home
Roger’s expertise is highlighted locally all around Florida, Sarasota, and Manatee areas. With five staff members who assist in making connections as well as offering tailored services to every client. Named as the #1 agent consecutively, Roger was also named the number one agent for Longboat Key, Bird Key, and Sarasota combined.
You can learn a lot about Pettingell’s ethics from his personal life. Roger is not just a loving husband and father. He is also passionate when it comes to giving back to his community.
Roger Pettingell supports local organizations and charities across the state. Names in the local community outreach businesses such as the Southeastern Guide Dogs Inc. to the WestCoast Black Theatre Troupe in Sarasota, Florida. He uses his resources to bring support to the people in his local neighborhoods.