Villa Toscana on Casey Key, 1416 Casey Key Rd, Nokomis FL

The views from Villa Toscana say it all: reminiscent of Italian villas, which have stood for centuries, where the entrance to the villa is understated, and as you move through the warm interiors outside to the pool and terraced garden areas, you feel the connection to the land and its relationship to the structure. Having spent some time in the Tuscan hills, these views always take my breath away when I am showing this incredibly beautiful property on Casey Key. The facade is a burnt-Sienna texture which makes it look as if it has stood there for a hundred years or more. The intricately hand-carved fireplace is reminiscent of one from the Biltmore manse, and the eye is drawn from the columns to the solid mahogany interior and exterior doors (54 of them) with stained glass insets on the interior ones. This is a truly special home and all who encounter the space are struck by an ambience most describe as being planned with thoughtful care about each space.

I invite you to view the virtual tour and decide for yourself what emotions this property causes you to experience.

1608 Casey Key, Nokomis FL - Casa Mia on Casey Key

I am pleased to announce my new listing, "Casa Mia", on Casey Key. This is an absolute guf-to-bay dream come true with walls of glass to bring the panoramic azure waters of both Little Sarasota Bay and the Gulf of Mexico right into view from almost every room in the house. As the owner/architect says, "I was inspired to design a home that resembles a ship with white aluminum railing going all around the decks." This property comes to you tastefully furnished and ready to move into. This is a true holiday home with relaxing interiors in great entertaining space and drop-dead gorgeous views.

View the virtual tour by clicking here

Mortgage rates fall to third straight record low

By ALAN ZIBEL, AP Real Estate Writer Alan Zibel, Ap Real Estate Writer – Wed Dec 31, 1:27 pm ET

WASHINGTON – Rates on 30-year mortgages fell to a record low for the third straight week and borrowers took advantage of the drop, sending new applications soaring.

With the Federal Reserve on the verge of pouring hundreds of billions of dollars into the devastated U.S. housing market, mortgage rates have plunged to the lowest level since Freddie Mac started tracking the data in April 1971.

Low rates are a great opportunity for borrowers with solid credit and plenty of equity in their homes. But those in danger of foreclosure are still sidelined, and defaults are expected to keep rising in the coming months.

Freddie Mac reported Wednesday that average rates on 30-year fixed mortgages dropped to 5.1 percent this week, down from the previous record of 5.14 percent set last week. It was the ninth straight weekly drop. The survey was released a day early due to the New Year's holiday.
Mortgage rates have plunged by about 1.3 percentage points since late October, Freddie Mac said. For a borrower taking out a $200,000 loan, that means a savings of more than $170 in monthly payments, according to Frank Nothaft, the mortgage finance company's chief economist.

Meanwhile, mortgage applications last week remained at the highest level in more than five years, the Mortgage Bankers Association said.

The trade group's weekly application index was essentially unchanged for the week ending Dec. 26. Applications surged earlier this month to the highest level since July 2003, when refinancing activity boomed at the peak of the housing market.

More than 80 percent of applications came from borrowers looking to refinance at more affordable rates, the trade group said.

Interest rates have plunged since the Federal Reserve pledged last month to buy up mortgage-backed securities in an effort to bolster the long-suffering housing market. The Fed, starting early next month, will buy up to $500 billion in securities guaranteed by the government-controlled home loan giants Fannie Mae, Freddie Mac and Ginnie Mae, a federal agency.

"It's a huge number," said Derek Chen, an analyst at Barclays Capital, who noted that mortgage rates are still high when compared with yields on long-term Treasury debt.

With the Fed and Treasury Department buying up a significant portion of the new mortgage securities issued by Fannie and Freddie next year, that gap, or spread, could narrow.

If that happens, mortgage rates could fall further, possibly as low as 4.5 percent, Chen said.
The average rate on a 15-year fixed-rate mortgage dropped to 4.83 percent, the lowest point since March 2004. That rate was 4.91 percent last week, Freddie Mac said.

Rates on five-year, adjustable-rate mortgages rose to 5.57 percent, compared with 5.49 percent last week. Rates on one-year, adjustable-rate mortgages fell to 4.85 percent, from 4.95 percent last week.

The rates do not include add-on fees known as points. The nationwide fee for 30-year, 15-year mortgages and five-year adjustable rate mortgages averaged 0.7 point last week, compared with 0.5 point for one-year adjustable-rate mortgages.

Meanwhile, home prices dropped by the sharpest annual rate on record in October and there are no signs the housing pain is over.

The Standard & Poor's/Case-Shiller 20-city housing index, released Tuesday, fell by a record 18 percent from October last year, the largest drop since its inception in 2000. The 10-city index tumbled 19.1 percent, its biggest decline in its 21-year history. Prices are at levels not seen since March 2004.

November 2008 Sales on Casey Key

Two North end gulf-to-bay properties on Casey Key sold in November 2008 and early December 2008.

The property at 1002 N Casey Key-top photo above--on 1.6 acres of gulf to bay property with century old live oak trees and a 1939 "Old Florida" house, sold for $3,400,000. This property was originally priced at $5.1m and sold in early December.

The property--2nd photo--at 526 N Casey Key, with 100 feet of bay frontage, and a contemporary style home built in 1998, sold for $4,375,000. This was originally listed at $6.2 million with a price reduction to $5.495m in July. It went under contract in August and closed in mid-November.

Huge Turnout at 3206 Casey Key Rd for Casey Key Broker Tour

The fall Casey Key tour of homes offered by participating brokers was a huge success and the late afternoon event could not have been more lovely. Approximately ten homes listed for sale were open for touring by the entire brokerage community, an event that is held usually twice a year, in the spring just before the end of season, and again in the fall, just before the new selling season begins. The event is coordinated by Innovative Agent Services, headed by Tina Darling and her team of professionals.

The realtors attending were upbeat and happy to be getting focused for a new season by seeing what properties are available on Casey Key. This is a wonderful way to showcase our sellers' properties with combined touring and get the broker community together for some camaraderie. We all work long hours and ending the day by seeing many great properties on this beautiful island was well received by all who participated.

Pictured above with the pool and gorgeous lawn and bay in the background at "Casa Amalfi" are realtors Nell Leffel, Charlotte Hedge, Maureen and Matt Morris, and Maryann Casey.


Pictured below at my listing, "Casa Amalfi", are realtors Charlotte Hedge, Deborah Beacham, Nell Leffel, Maureen Morris and Maryann Casey.

Sale of 3610 Casey Key

I am pleased to announce the sale of my listing at 3610 Casey Key Road, a compound of two homes set on approximately 160 feet of bayfront down a quaint, private lane on Casey Key. The list price was $2,800,000; and the property sold for $2,549,000 on October 24, 2008.

There has been one other October sale on the key: the gulf-front home at 417 Casey Key with a 1947 renovated cottage of approximately 1,900 square feet sold for $2,295,000. List price was $2,395,000.

Casa Amalfi, 3206 Casey Key Rd, on Casey Key

I am pleased to present my new listing, Casa Amalfi, on Casey Key. This stunning remodeled/renovated home sits on over half an acre on the bay with wonderful views from every room. The property had been neglected for some years and had undergone some interior modifications over time that left it undesirable for most buyers. When the current owner, another Casey Key property owner who lives here full time with his wife and two young sons, purchased the property, it was with the idea of giving the space new life and to use hand-crafted materials and open up the rooms for optimal views. The structure had "good bones" but was in great need of a total renovation, including a much expanded kitchen, all new bathrooms, interior staircase, elevator, elegant master suite. The "before" and "after" photos really tell the story. The grounds were in total disarray and overgrown to the extent that there were no bay views whatsoever. Now, the end result is just so beautiful and satisfying.

I had my first official “showing”, after being on the market for about a week, and the potential Canadian buyer was so impressed with the interior space and design, that I had trouble getting him to go outside to experience the garden and dock areas. He said he felt so “comfortable” being in the space and that it was really an incredible home.

I invite you to call me for a showing of this special property. It will be my pleasure to show you around Casa Amalfi. For the video tour of the property, click here.

You may also see more details about this property on my website.