Business View Magazine Apr-2023

43 BUSINESS VIEW MAGAZINE VOLUME 10, ISSUE 4 Not only are existing homeowners keen to keep hold of their residential real estate investments, but New Yorkers and East Coast homeowners are also continuing to sell up and move south to buy into the relaxed, year-long-vacation lifestyle that luxury living affords in the Sunshine State. For Steve Murray, President of Murray Homes, creating beautiful luxury homes and tapping into the increased demand for these types of properties has fueled the success of his Sarasota, FL based custom home building business. “In Sarasota, we have been attracting a swathe of high net worth individuals who are buying and building incredible homes. This has been even more pronounced in the last few years,” Murray begins. “As a result, there are greater opportunities for us to build, remodel or renovate and on the waterfront, our average project price right now is around $4 million, however, we are seeing as much as $10-$12 million being spent on new build projects.” Prior to 2018, Murray Homes focused its efforts on building impressive high-end properties for end users. However, in recent years, the industry has presented some new opportunities, partly due to Murray’s recognition of an untapped market niche, and partly due to the substantial property damage caused by Hurricane Irma in 2018. “I’ve been building homes in the area since 1994, and after Hurricane Irma we concluded that there was a need to provide a service that specifically cares for, services and maintained luxury and waterfront homes on an ongoing basis.,” Murray reflects. “At the time I had 44 houses that I had built that were owned by folks who were out of town during hurricane season. In the aftermath of Irma my team visited each one of those homes, checking to ensure that it was okay, assess any damage, and report back to the homeowner. We then developed a plan for repairs, if needed, and made recommendations to ensure the home would be more prepared for any future storm impact.” MURRAY HOMES