Tuesday, November 17, 2015

Boston Globe - Venice FL article Nov 6, 2015

https://www.bostonglobe.com/lifestyle/2015/11/06/chalk-good-time-venice-fla/JAiqpVh062mBSZHuW9XiLP/story.html


By Diane Bair and Pamela Wright GLOBE CORRESPONDENTS  
What is it about places named Venice, and why are they so cool? There’s the one in Italy, famous for its gondolas and grand palaces, and the one in Southern California, with its funky, anything-goes, “tattoo this” beach vibe. Then there’s the other, other Venice, the one in Florida. Recently named one of Coastal Living magazine’s happiest seaside towns, this is the mysterious Venice, the one you probably don’t know unless you’ve spent some time in Sarasota County, on Florida’s southwest coast.

So what’s cool about this Venice? Does it deserve a moment in the sun and is it, in fact, worthy of its name? We headed south to find out.
“Would you like to borrow a shark’s tooth sifter?” asked the woman at the front desk at the Inn at the Beach, where we were staying. Say what? It seems that Venice is, or claims to be, the Shark Tooth Capital of the World. Venice, an island along the aquamarine Gulf of Mexico, sits atop a fossil layer that’s estimated to be 18 to 35 feet deep, a souvenir dating 10,000 years, to when Florida was underwater. Gulf beaches hold a cache of fossilized sharks’ teeth, pointy triangles of black, gray, and brown that run about one-eighth to three-quarters of an inch long.
Beachgoers collect them using a “Venice snow shovel,” a screened basket with a handle, scooping up sand at the water’s edge where the waves break and sifting it.
Sadly, re-nourishment of the beach (when sand from several miles out is scooped up and deposited on the shoreline to replenish the beach after storms) has made sharks’ teeth less plentiful. Still, those little prizes are out there; we saw folks with bottles full of sharks’ teeth, not to mention, a display of sharks’ teeth jewelry at a shop called Sea Pleasures & Treasures on Venice Avenue. (Pieces not nearly as creepy as the alligator claw necklaces for sale alongside them!) If you’re really into this, and are a diver, find a local dive shop with a captain who specializes in fossils. Some super-lucky shark’s tooth hunters find giant, megalodon teeth, the size of a fist, on those trips. Or come in April, for the annual Shark’s Tooth Festival.
But you might not want to wait: From Nov. 9-16, Venice will be adorned in fabulous chalk art, as the site of the 8th annual Sarasota Chalk Festival (www.chalkfestival.org). Heralded by CNN as one of the best events of its kind in the world, the event draws 300-plus artists who create sprawling works in pastel on a decommissioned runway at the Venice Airport Fairgrounds. Visitors can participate themselves, watch the process, and see the glorious (if temporary) results.
This year’s theme is “Eat, Drink, and Be Merry.” “We anticipate 200,000 visitors over the eight days of festivities,” says founder Denise Kowal, formerly of Cohasset. “We host 90 percent of the world’s most renowned pavement artists in one location at one time — nobody else does this,” she adds.
The art is so amazing that it would knock your socks off if you were wearing any. This is flip-flop territory, where the temperature averages around 73 degrees — perfect for hanging out at one of the frequent festivals, hitting the Venice Farmers Market on Saturday morning, or meandering the inviting stretch of little shops along West Venice and Tampa avenues, the city’s pink-stucco downtown area. Thanks to stringent zoning, downtown Venice is remarkably lacking in chain stores and restaurants, making it an anomaly in the Sunshine State.

But the biggest surprise we found in Venice — bigger even than the shark’s tooth on the sign at Caspersen Beach — was this: We could get around almost entirely by bicycle. In our travels around car-centric Florida, we’d given up on finding a bike-friendly city. In Venice, Mayor John Holic himself gets up at 3:30 a.m. to hit the road with his pals, in the dark on his bike before the workday begins. While we don’t recommend that strategy for visitors (Beach Bikes & Trikes, a local bike rental agency, doesn’t open that early anyway), we discovered that this city of 21,000 souls is easy to explore on two wheels.
Venice is a silver-rated bicycle-friendly community, according to the League of American Bicyclists. And, although there are numerous on-street bike lanes, you can avoid cars altogether by sticking to bike paths like the Venetian Waterway Park and the Legacy Trail, a 10.8-mile path that goes all the way to the southern edge of Sarasota, and eventually will connect Venice with Sarasota’s downtown.
“Biking has really taken off here, especially since the Legacy Trail opened up in 2008,” says Mike Brown of Beach Bikes & Trikes. “We get people who come up here to house hunt, and do it all on a bike,” he adds.
We were skeptical, until we hit the paved Venetian Waterway trail, and pedaled to Sharky’s on the Pier for lunch (a must-do here), to Caspersen Beach (shark tooth central) and along both sides of the Intracoastal Waterway, veering off the trail to the bike lane on Harbor Drive to admire the city’s collection of 1920s-era Spanish Revival-style homes. We also encountered Mayor Holic on his bike; he gave us a mini-tour of Venice’s 30-some parks, and steered us toward other sights to see on our DIY Tour de Venice.
One of those “parks” is actually the Legacy Trail, a multiuse former rail trail that runs from the Historic Venice Train Depot, downtown, to Sarasota. So, of course we had to rent bikes for yet another day!
The morning we set out, it was 94 degrees. Were we crazy? Weren’t all the sane people at the beach, sprawled on the tawny sands of Venice’s 14-mile coastline, or bobbing in the surf? Quickly, though, we realized we were onto something, creating our own breeze as we pedaled through neighborhoods, over bridges, and into cool foliage, stopping only to guzzle water and admire views of electric-blue bays alongside the path.
We had hoped to get as far as Oscar Scherer State Park, but alas, we were flying back to Boston and running out of time. Instead, we ended our ride back at Venice Beach, where we promptly locked up our bikes, doffed our helmets, and plunged into the bathtub-warm-but-still-refreshing Gulf of Mexico.
As Venices go, this one isn’t bad at all.
QUICK TAKES
Venice is located just south of Sarasota. Bradenton-Sarasota International Airport is about 30 miles away.
Where to stay: Located right across from Venice Beach, the Inn at the Beach is the one to book thanks to its easy access to the Gulf. Rooms are quiet (the property abuts a residential area) with modern amenities. There’s also a heated pool and spa tub. Guest rooms and suites are done up in casual-tropical style, and many rooms have full kitchens. Continental breakfast is complimentary. Rates from $149. www.innatthebeach.com
Where to eat: You’ll be glad you biked a lot. Like neighboring Sarasota, Venice offers plenty of good food. Some of our favorites: For lunch, try the Soda Fountain & Vinnie’s Pizzeria(www.sodafountainofvenice.com), a real soda fountain, and Sharky’s on the Pier for good food and a Margaritaville-esque vibe (www.sharkysonthepier.com). For dinner, Sharky’s upscale sibling, Fins(www.finsatsharkys.com), offers dazzling sunset views and some of the best food we’ve ever had in the Sunshine State (steaks, sushi — it’s all awesome here). Another waterfront spot we enjoyed: Marker 4 (www.marker4.com), where they make fish tacos with seared red grouper, and top their steamed mussels with tasty things like cherry-smoked bacon.
Renting bicycles: Beach Bikes & Trikes (www.venicebikesandtrikes.com) will deliver and pick up bikes as part of the rental fee; helmets, baskets, and locks are included.

For more information: www.visitsarasota.org





Sunday, November 15, 2015

Venice FL Area Real Estate Market Analysis

Residential real estate purchases listed in the MLS system for the Venice area have gone from less than 5% being made on an all cash basis prior to the economic crisis, compared to over 60% each year from 2010 to this (MFRMLS, 2015). It also appears that the area's cash sales volume cannot merely be attributed to investors picking up foreclosed properties. Two local builders' representatives report 50-60% of their communities' new home sales have been made with all cash in the past couple of years, and that the volume of sales and demand have greatly exceeded corporate expectations during that time as well.  The total number of residential home sales recorded in the local MLS system for 2014 was actually 38% higher than the total for the 2005 calendar year in the midst of the housing bubble (MFRMLS, 2015).  This also indicates that the proportion of purchases made with lending cannot significantly be attributed merely to increase lending standards that are subsequently eliminating a section from the market or from the clearing of foreclosures as some would claim.  

Local Market Analysis



Description. Lifestyle characteristicsVenice is a quiet suburban location conveniently placed in between a number of more metropolitan areas with major airports.  Sarasota is a mere 20 minutes away, about an hour to Fort Myers, Tampa is about an hour and a half drive, while Orlando and its attractions are only about 2.5 hours away.  The Tamiami Trail, Route 41, is a major traffic corridor through the city and lays approximately midway between the coast of the Gulf of Mexico and Interstate 75.  It has a charming historic downtown are with a park, theater, restaurants and shopping.  There are many local golf courses in and near Venice. 

Population Venice, itself, is a small city with a population of just over 21,000 (Bureau of Economic and Business Research, 2014) located in Sarasota County, Florida.  This figure is for the city proper and not including the greater range of Venice addresses.  Available data is not exactly clear as to the population estimate for the broader targeted Venice 'area.' The applicable zip codes that can have Venice mailing addresses are: 34275, 34285, 34292, and 34293.  Properties within the last three listed all would have Venice addresses.  A very small percentage of residences within the 34275 zip code currently have Venice mailing addresses. Population estimates from the 2013 American Community Survey for the three zip codes combined are 65,623 persons in 2013, 64,395 in 2012, and 64,062 in 2011 (U.S. Census Bureau, 2010)According to the Bureau of Economic Analysis, "in 2012, Sarasota [County] had a total personal income (TPI) of $21,400,975.  This TPI ranked 11th in the state and accounted for 2.7 percent of the state total.  In 2002, the TPI of Sarasota was $14,447,855 and ranked 10th in the state" (Bureau of Economic and Business Research, 2014, para. 2). 


Age of population.  The area is known for having an older population, as it is popular for retirees.  Florida, in general, has a reputation for its substantial number of seniors, which for 2013 was estimated to have 18.7% of its population at 65 years of age or older ("Sarasota County Quick Facts," 2013).  The statistic for Sarasota County during the same timeframe was significantly higher at 33.3% of the population ("Sarasota County Quick Facts," 2013).  "Among Florida’s counties, Sarasota County has the thirdhighest percentage of residents aged 65 and over, the secondhighest percentage of residents aged 75 and over, and the highest percentage of residents aged 85 and over" (Sarasota County Planning Services [SCPS], 2012, July, p. 1).  The Venice area of Sarasota County is comprised of sections with a generally higher median age than much of the rest of the county at a figure greater than 64 years of age, as can be seen in Figure 1 from Sarasota County Planning Services (SCPS, 2012).

Economic status Only about 9% of the population was persons below the poverty level from 2008-2012 (U.S. Census Bureau, n.d.).  The majority of people own their own home, at 72%, with a median home value of $180,800 for owner-occupied units, and the median household income is $46,404 (U.S. Census Bureau, n.d.).  It might be argued that the household income figure could be somewhat deceptive, however, as it does not include capital gains or some supplemental retirement benefits (U.S. Census Bureau, n.d.).  These are likely to be, or have been for the data referenced, sources of income for the many residents of the area.  As a result, using the household income figures from the U.S. Census Bureau (n.d.) could potentially create a significantly skewed view of the local economy.  Additionally, the Census Bureau's income figure is pre-expenses, so it is before mortgage expenses, etc.  An area where a higher proportion of the population owns their residence outright will also have a higher proportion of discretionary income compared to another area with similar household income figures. The impacts of this excluded income and of expense differences may warrant future research to determine if it is the case, and if so, to what degree.

Residential units.  The Sarasota County Property Appraiser's website was utilized to search and download data spreadsheets on August 1st, 2015, listing all properties within applicable zip codes (Sarasota County Property Appraiser [SCPA], 2015).  From the list of all properties gathered for each zip code, non-residential and vacant or units under construction were eliminated from consideration.  Subdivisions were included for consideration where mailing addresses of 'Venice' or 'North Venice' in instances that the physical street address matched the mailing address.  Three instances of this criterion were also included that were listed as not in a subdivision.  The result is an estimated 1,443 residential units for zip code 34275 that would be considered Venice area domiciles.  There are 11,915 residential units listed for the City of Venice with zip code 34285.  Zip code 34292 all have Venice physical addresses listed.  There are 8,187 completed residential units in place within zip code 34292.  Zip code 34293 resulted in 20,240 residential units in place.  This totals 41,785 residences contained in the research target area of Venice area. 

Growth.  According to Census.gov's State and County Quick Facts for Venice, Florida, the 2013 population estimate is 21,253 individuals; this is a 2.4% increase over the 2010 U.S.  Census (U.S. Census Bureau, n.d.).  Venice is 15.27 square miles with approximately 1359 persons per square mile, according to the 2010 Census (U.S. Census Bureau, n.d.).  At the time of the Census, only 6.1% of the population was under 18 years of age, while 57% of the population was comprised of individuals 65 years of age and older (U.S. Census Bureau, n.d.). 

It is considered an area of high-growth due to considerable expansion in new home construction (Bureau of Economic and Business Research, 2014).  And, according to the local MLS (My Florida Regional MLS [MFRMLS], 2014; MFRMLS, 2015), the volume of home sales has been on a considerable upward trend in the past 5 years, increasing an average of 15% per year from 2008 through 2013 (Figure 2).  Increases in new home construction and increases in sales volumes indicate an increasing demand, while the number of active listings (Figure 3) has been on a downward trend over the past 5 years (MFRMLS, 2014). A housing economist for Trulia says that their data shows this market area is currently one of the top ten fastest moving in the nation (McLaughlin, 2015).



Figure 1. Count of Active Listings by Year and Month (MFRMLS, 2015)



Figure 2. Venice Residential Sales by Month for Past 5 Years (MFRMLS, 2015)



Figure 3. Venice Residential Average Sales Price by Month for Past 5 Years (MFRMLS, 2015)


The proportion of residents over 65 is projected to grow to about 40% by the year 2030 (SCPS, 2012), as the last of the Baby Boomer generation reaches retirement age.  The population is anticipated and planned to grow with other age categories as well (SCPS, 2012).  The resident population of Sarasota County is estimated at about 390,000 for 2014 with an additional winter seasonal population of 100,000 (SCPS, 2015).  Sarasota County Planning Services [SCPS] says that the population is growing at less than 1% currently, or about 5 new residents per day (SCPS, 2015, p. 2).  However, that rate is expected to increase dramatically over the next decade, with an anticipated average of 2,000 new housing units added per year to accommodate the growth (SCPS, 2015).  Permits for new residential units reached 1,196 in 2014, up over 382% since the low figure in 2009 (SCPS, 2015).  SCPS also reports that two-thirds of the growth that was seen for the county during 2011 through 2013 was in South County (SCPS, 2015, p. 2), which is predominantly comprised of the area targeted in the scope of this review.

Final Commentary

Venice, Florida, is a growing resort-style, coastal area popular for retirement living.  With Baby Boomers reaching retirement age in greater volume, and many finally seeing their retirement funds recovered from the downturn, the housing market demand is escalating for the area.  This is clearly shown by the data.  Increases in new home construction and increases in sales volumes indicate an rising demand and sales prices, while the number of active listings has been on a downward trend over the past 5 years (MFRMLS, 2015).  The local Neighborhood Development Services Department recently received 42 applications for new home permits in the target area from just one builder in one single day (City of North Port, 2015, p. 4).   In the consecutive 8 months through June 2015, that same department issued a total of 528 residential building permits (City of North Port, 2015, p. 4). The local real estate market for Venice, Florida, is certainly taking off, and the future outlook suggests that a home purchase in the area may be a very good option from a personal investment perspective. If you are considering a home here, act sooner rather than later due to rising home values. 

Please, check out my website, and contact me for more information!
Look forward to hearing from you!

Ali
















If you are considering purchasing a home in this community, I can assist you. My services and extensive resources are of no cost to you, and in most instances, I am able to save home buyers some money.  I do not work for any of the wonderful builders in the West Villages Improvement District, or any others for that matter. My services and information (including the resources provided on all of my websites) are wholly independent of these developers. No other independent professional is more knowledgeable about this community, and enlisting me to assist with your transaction also serves to fund these resources to keep them available for you and others on an ongoing basis.



Aileen “Ali” Johnston, MHA, MBA in Real Estate
Realtor®, Hoover Realty LLC
Mobile: 941-539-5771


Sunday, November 1, 2015

Sarasota Memorial to Build New Hospital in Venice

This is an article from the Herald Tribune yesterday

Sarasota Memorial to build new hospital in Venice

Published: Saturday, October 31, 2015 at 3:18 p.m.
Last Modified: Saturday, October 31, 2015 at 3:18 p.m.
Sarasota Memorial Hospital plans to build a new hospital in Venice, ending speculation about whether the large public hospital would continue pursuing efforts to purchase the struggling Venice Regional Bayfront Health.

The new hospital will likely be located at 2600 Laurel Road, just east of the Laurel Road exit off Interstate 75, at the intersection of Laurel Road and Pinebrook Road.
The 65-acre parcel was purchased by the hospital system in 2005 for $25 million, according to records filed with the Sarasota County Property Appraiser.
Initially, the parcel was supposed to hold a large primary care and outpatient center, but the plans never materialized. It will likely be months before a groundbreaking for a new hospital would occur, as the hospital's application to the Florida Agency for Healthcare Administration works its way through the regulatory process.
In a full-page ad published in the Sarasota Herald Tribune and the Venice Gondolier Sun on Saturday, Sarasota Memorial CEO David Verinder announced plans to build in Venice and confirmed that the hospital system had tried to purchase Venice Regional in September. The hospital leadership had previously declined to comment on the rumors.
"We are unaware of an application filed by Sarasota Memorial to build a hospital in Venice," said Venice Regional spokesman Bob Hite.
Since Venice Regional was purchased in 2014 by its current parent company, the Tennesee-based Community Health Systems, the company has invested more than $21 million in medical technology, equipment and infrastructure improvements at the hospital. After the sewage leak in May, CHS sent $4.3 million for immediate building repairs.
"For more than 65 years, Venice Regional has served the health care needs of this community and we are committed to doing so for years to come," Hite said.
Building a hospital in the southern portion of Sarasota County had always been in the long-range plan for Sarasota Memorial, but the plans were sped up after community outcry this summer over conditions at Venice Regional.
In late June, state inspectors revealed that a large scale sewage leak at the hospital in late May was not properly cleaned up and rats were living in the ceilings above the kitchen. Then-CEO Peter Wozniak resigned rather than face a no-confidence vote from the medical staff, and the hospital's parent company, Community Health Systems, installed interim leadership at the hospital.
Throughout the summer, Venice doctors began advertising their privileges at other hospitals as patients refused to go to Venice for elective surgeries. Many Venice doctors obtained privileges at other hospitals, including Doctors Hospital and Sarasota Memorial.
“We have had an influx of concerned community members this summer, asking us to please come into Venice, that it's not a good situation for people in South County right now,” said Dr. Marguerite Malone, chairwoman of the Sarasota County Public Hospital District.
“They really hoped we'd do something to make sure the quality of health care was improved in the area,” Malone said.
The hospital system is expanding its reach throughout the community with a recent spate of land purchases.
In 2015 alone, the hospital has purchased property on St. Armands Circle to build a new urgent care center, made a bid to purchase property at the intersection of State Road 70 and Lorraine Road on the north end of Lakewood Ranch for a primary care medical office and swapped land for a parcel at the intersection of U.S. 41 and West Villages Parkway in North Port for an urgent care center or medical offices.
While the public hospital district is growing, its move into Venice is likely to cause some turmoil. When Sarasota Memorial began planning to build on the Laurel Road site back in 2012, Venice Regional officials filed appeals to the city of Venice for planning issues.
Similarly, when Sarasota Memorial began pursuing its now-built urgent care center at U.S. 41 Bypass and Tamiami Trail, Venice Regional again appealed to the Venice Planning Council, and Sarasota Memorial faced protests from area doctors who didn't want the hospital coming into Venice.
In both instances, however, the Venice City Council approved Sarasota Memorial's plans.
Reached Saturday, officials from Venice Regional say they didn't know about Sarasota Memorial's plans.
Sarasota Memorial Hospital will celebrate its 90th anniversary Monday.