Sarasota Real Estate Real Estate Blog

Thinking of Buying Sarasota Investment Properties?

Buying an Investment Property and Being a Landlord

So you are thinking about buying your first Sarasota Real Estate property as an investment and become a residential landlord. You are about to embark on an interesting, rewarding and challenging investment. Have you decided on what kind of property you want to own? If you are looking for Siesta Key Real Estate, you can find anything from a small bungalow, to a high-rise, beachfront Siesta Key Condo. If vacation rentals are not what you are looking for, you can find great deals on Lakewood Ranch Homes for Sale right now. These would be geared more towards the long term tenants then the short vacation rentals. Once you have found your perfect investment property, here's what you should be thinking about as you get ready for the closing and being a landlord:


The National Foreclosure Rate Hits It’s 5 Year Low In September

Siesta Key Foreclosures DecreasingThe third quarter housing and foreclosure report was released by RealtyTrac in September and for the first time, in a long time; it appears that the nation is doing better. All foreclosure filings including initial default notices, auction schedules and even bank repossessions have decreased by seven percent from the month of August. It also showed a decrease of 16 percent from the previous year which made it the lowest national rate since July of 2007.

For the first time since 2005, the state of Florida has made it to the top of the list for properties that are starting the foreclosure procedure. The major reason why Florida has not made this list before is because they are what is known as a “judicial” foreclosure state. This means that in the state...

30-Year Fixed Mortgage Rate Continues to Rise

Sarasota Interest Rates

This week mortgage rates rose again. For homeowners looking for a 30 year fixed rate they can expect a 3.39 rate. This is up from a week ago. It seems that rates seem to be staying right between 3.19 and 3.39 percent. This information is being quoted by the Zillow Mortgage Marketplace.

The reason for the slight rise in rates may be linked to the fact that the Federal Open Market Committee announced a job report that was stronger than was expected. So while rates seem to fluctuate back and forth, for the most part, they remain steady and are expected to stay in this pattern in the near future. Bright information concerning the job market is not expected. This continues to be good news for the new homeowner.

And for those looking for a shorter loan...

Foreclosures Decreasing

Foreclosures Slowing Down

The overall rate of Sarasota Foreclosures in Southwest Florida has continued to slow over the last month, but many lenders are still busy filing default notices on area properties.

In Sarasota, Charlotte and Manatee counties, there were 1,128 properties that were...

Sarasota Spotlight: Longboat Key

Longboat Key - An Island Gem

The beautiful island of Longboat Key, off the coast of Sarasota, Florida, beckons to the visitor and resident with its breathtaking natural beauty, quiet beaches and cultural

St. Armand's Circle

attractions. Longboat Key real estate will put you in an elegant tropical paradise, close to shopping, recreation and art.

As a popular vacation destination as well as location of distinctive homes, Longboat key offers the finest beaches in addition to birds and wildlife. Nearby shopping at the famous St. Armand's Circle puts boutique shopping and fine restaurants right at your door. Recreational opportunities in Longboat Key abound; world-class tennis and championship golf courses are part of the scene. Kayaking, windsurfing...

Siesta Key Bank Owned Home and Condo Previews

The Siesta Key bank owned homes for sale inventory numbers have dipped again. As of today there are three Siesta Key bank owned condominiums and two bank owned homes for sale on Siesta Key. I have had the opportunity to preview two of these properties. Here is what I saw:

Bank Owned Condo 

This two bedroom, two bath, 1100 sq. ft. Siesta Key Condo just came on the market at $259,000. It is located in a wonderful Gulf to Bay community on the northern end of Siesta Key. The unit is in a high rise building steps to the gulf front pool and fitness center as well as the beautiful powder sand beach.  This would be the perfect place for an investor or vacation home purchaser that is willing to rehab the unit in its entirety.  The rehab would include...

Sarasota Spotlight: Downtown

Downtown Sarasota ArtsWhen people from outside the area, hear the name Sarasota, the first thought tends to be about our incredible beaches. While it is very true that our beaches rank among the best in the world, those of us fortunate enough to live the Sarasota lifestyle know there is much more than sand and sun that keeps us here.

Downtown Sarasota is becoming a hub of artistic activity and entertainment for everyone.  If you are looking for a night of culture and artistic celebration, the options are endless. The Sarasota Opera House, The Players Theatre, Van Wezel, and the Asolo Repertory Theatre are just a few of the options that offer all styles of plays, music, and even improv events. 

If boating is your passion, Marina Jack’s is the ideal downtown Sarasota spot for you. Whether you just want to...

Fishermans Cove Siesta Key Condo - Just Sold!

Spectacular Sunsets from First Floor at Fisherman’s CoveFishermans Cove Condos

Our buyer could not have been happier with the purchase of their beautiful Siesta Key condo, a first floor unit at Fisherman’s Cove (Sale Price: $382,500 Public Record). Just under 1000 sqft, this is the perfect zero maintenance, paradise escape. Walking out the lanai leads you right on to Turtle Beach to enjoy the perfect sunset every night of the year. As an avid fisherman, this was the perfect unit as it came with its own dock. With limited turnover, unobstructed sunset views and your own boat dock, Fisherman’s Cove is the best kept secret on the key.

To learn more information...

Peppertree Bay Siesta Key Condo - Just Sold!

Peppertree Bay Siesta Key CondosThe Siesta Key condo market continues to heat up with very strong buyer activity. Recently I represented a buyer on the purchase of a two bedroom, two bath condominium unit in Peppertree Bay on Siesta Key. The buyers had been looking for the perfect condominium that offered the best value with the best amenities. They were able to pick up this unit for $271,000 (public record) with the list price being $290,000. Peppertree Bay was the perfect match for them as it is a Gulf to Bay complex offering a long stretch of white powdery sand on the Gulf along with a Gulf front pool, club house, recently renovated fitness room and tennis courts. On the bayside, there is...

Sarasota Real Estate Market Report - October 2012

October Stats Shows Sarasota Home Sales Going Strong

October 2012 marks a great month in Sarasota real estate sales. Home sales are up 24% over last year. Pending sales are also up 24% for the same period. Single family home prices have jumped 17% in the past twelve months while Sarasota condominiums have increased by 11%. The amount of inventory available is at its lowest level since 1998. Sales are going strong into the winter sales season after a brisk summer and steady autumn.

A year ago, real estate professionals sold 577 properties in the month of October. This year, that number jumped to 719. That is a...