Sarasota, Florida (PRWEB) March 14, 2013
Local homebuilder Medallion Home appears ready to match strides with national counterparts that have been pursuing opportunities emerging from the recent upturn of the real estate market in the Manatee-Sarasota area, Sarasota Bay Real Estate said. The family-owned, Bradenton-based Medallion, Sarasota Bay Real Estate noted, has significantly built up its landholdings in recent months, buying land at bargain prices. This makes the company ready to face the challenge poised by the local development initiatives of U.S. homebuilding industry giants in the mold of Taylor Morrison, Lennar Homes, and the PulteGroup, the full service realty firm said.
In October last year, Medallion Home founder Carlos Beruff was reported to have won in a foreclosure auction some 550 acres in Myakka City with a winning bid of $900,000. The property formerly belonged to Palmetto-based Forest Glen Properties which, according to media reports, needed about $6 million when it acquired the land in 2006. Forest Glen lost this property to foreclosure by Hancock Bank sometime in 2010.
Wildcat in harness
In another auction last October, Medallion Home-affiliate Wildcat Parrish bagged a 94-acre property at Golf Course Road in Parrish reportedly for just about $800,000. The former owners defaulted in 2009 on a $7-million Iberian bank loan, part of which was used to acquire the land.
This March, Beruff applied with the Manatee County for clearance to construct 242 homes on this property. Besides these residences, commercial space is likewise on the blueprint of this development which will be part of a new community in the area formerly known as Wildcat Preserve.
Seeking a payoff post-Gamble Creek
Beruff, who is a Parrish resident himself, expressed confidence that the rebound of the local economy will bring in benefits to the Parrish residential submarket. Their new planned development in the area would be an appropriate follow-through of the successful marketing of Medallion Home’s Gamble Creek Estates, he added.
Gamble Creek’s successful participation in the recently concluded 2013 Parade of Homes demonstrated the superior design capability of Medallion Home. This serves the company in good stead as it competes in the market against national homebuilders, Sarasota Bay Real Estate said. The Aruba design at Gamble Creek emerged as the winner in single family homes in the Parade of Homes award for best in curb appeal.
Medallion struts winning ways in Parade Of Homes
Medallion Home was one of the most prominent participants in this year’s Parade of Homes which also drew top national homebuilders Taylor Morrison and Lennar Homes. Including that of the Gamble Creek Award, Medallion garnered top overall awards in five singe family home categories of the well-attended show.
The other accolades which Medallion Home received in the Parade of Homes were those for The Barbados 2700 model at Twin Rivers; The Havana at Riva Trace; and The Capri and The Catalina, both at Medallion’s The Inlets community. Notably, Medallion, established in 1984, has its own Design Center where prospective home buyers can personalize their choice through the complimentary service of a design consultant.
Medallion’s other properties include the golf community of Bobcat Trail in North Port where home prices start at around the mid-$200s. In Manatee, the homebuilder also has the FoxBrook Estates, River Plantation, and Country Meadows. The Lakes of Mount Dora in Lake County rounds out the 11 local Medallion communities.
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 can be found at SarasotaBayRealEstate.com