Not short of Short Sales in Sarasota??

While bank-owned properties on the market in Sarasota have declined ..."short sales" (properties where the mortgage held by the seller exceeds the market value so the proceeds from the sale will not cover the mortgage and requires lender approval) continue in significant numbers.  The inventory varies by neighborhood:

Lido Bank-Owned properties on the market:                       4  homes   ;   1 condos

Downtown Bank-Owned properties on the market:            11 homes   ;  12 condos
West of Trail Bank-Owned properties on the market           2  homes  ;    6 condos
South Gate Bank-Owned properties on the market             11 homes
Phillip Creek/Landings/Gulf Gate Bank-Owned                  34 homes ;   14 condos
Meadows/Desoto Lakes Bank-Owned                                11 homes  ;   16 condos
Palmer Ranch Bank-Owned properties on the mkt              14 homes  ;   20 condos
Palm Aire Bank-Owned properties on the mkt                     35 homes  ;    8 condos
University Park/University Place Bank-Owned                    10 homes  ;    2 condos
Lakewood Ranch Bank-Owned properties on the mkt         32 homes  ;    5 condos
Oaks/Rivendell/Casey Key Bank-Owned properties           18 homes  ;    5 condos
Casey Key/Venetian Golf Bank-Owned properties               28 homes ;    5

Like foreclosures, short sales depress prices.  The higher the inventory, the larger the impact on neighborhood prices.