Sarasota, Florida (PRWEB) March 22, 2013
The continuing depletion of existing homes available in the Sarasota–Manatee MSA, which has reduced inventory to an estimated four to five months supply, has led to a significant increase in new residential construction in the area. Noting this development, Sarasota Bay Real Estate however, said that availing of the opportunities in this building upturn isn’t being handed down to real estate developers on a silver platter.
The full service realty firm observed that the possibility of a worker shortage is one concern that home builders have on their capability to fully avail of opportunities from the growing demand for new residences. In Tampa, the realty firm observed, manpower shortage is already being felt in the construction industry. Some developers are wary, Sarasota Bay Real Estate said, because their local subcontractors have either shifted to other businesses or moved elsewhere following the Great Recession and the housing downturn.
Competition from states affected by superstorm Sandy
Moreover, reconstruction post-superstorm Sandy has created a significant demand for building manpower in the states most hard hit by the hurricane. Sarasota Bay Real Estate took note of the millions of dollars in federal disaster aid that are being channeled in such areas as Louisiana which has now resulted in a large infusion of out-of-state construction workers there. The same situation appears brewing in New Jersey as the U.S. Senate is expected to soon pass a bill authorizing $51 billion in Hurricane Sandy federal disaster aid.
Besides the emergent issue on scant labor, builders not only state-wide but also across the U.S. have likewise aired concerns on rising costs of fuel and construction materials.
Some relief, however, have been brought by latest reports showing that US construction materials prices remain steady.
Reprieve on developers’ road fees
In December 2012, prices for metal-related construction materials are generally low although there was a modest uptick in the previous month, according to the Associated Builders and Contractors. Although prices of concrete and softwood lumber are on the uptrend, prices are also stable for such structural materials as asphalt, tar roofing, and siding.
Local construction projects likewise got an added push from the recent decision of the Sarasota County Commission to retain for two more years the greatly discounted fees that developers pay for their road usage. Developers and home builders welcomed the move which they say will help keep their costs low and contribute in stimulating further to the nascent uptrend in local home construction.
Where construction pace is feverish
It is in the Lakewood Ranch area where new home construction has been at a feverish pace lately, Sarasota Bay Real Estate said. The 8,500-acre Central Park community, it noted, is but one of the newest additions to the master-planned Lakewood Ranch. The national home builder Taylor Morrison is developing 1,250 home sites as the residential component of its Esplanades Golf & Country Club project in Lakewood Ranch, the realty firm said.
The residences at Esplanades consist of maintenance-free villas with base prices at the low $200s and single family homes with starting prices in the mid-$200s. MLS of Sarasota homes for sale typically include already built-up residences at Central Park with asking prices that start from the high $100s.
About Sarasota Bay Real Estate
Sarasota Bay Real Estate is a full service real estate brokerage in Sarasota Florida owned by Sarasota real estate broker, Christina Miller, and marketing professional, Roy Hunter. Together they, and their team of well-experienced agents, provide the best-in-class real estate marketing services for the properties in the company’s inventory.
Sarasota Bay Real Estate Internet assets receive more than 1,000 visits from perspective home buyers a day due to the wealth of local community information published by the company. Through a direct feed from the Sarasota MLS, Sarasota Bay Real Estate publishes the most current real estate information on the Internet for the Sarasota, Florida, market.
Contact information for Sarasota Bay Real Estate and all of the current MLS listings of real estate for sale in the Sarasota-Manatee area can be found at http://sarasotabayrealestate.com/