The 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...
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...
Spectacular Sunsets from First Floor at Fisherman’s Cove
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...
The 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 term short sale is slowly becoming a thing of the past. They can be as rare on Siesta Key as the green flash at sunset, but occasionally one becomes available. Our listing at 361 Avenida Leona is currently 1 of only 3 single family Siesta Key short sales. With a list price of only $1.1m (requires bank approval), there will most likely only be 2 short sales left after this week.
For anyone who has been considering stealing a home on Siesta, this is your chance. Nestled...
While Siesta Key is filled with a terrific assortment of condominium communities, few can compare to the unique offerings of the Gulf and Bay Club at 5730 Midnight Pass Road. This Siesta Key condominium complex is not just a popular choice for tourists from around the world, it’s also one of the most sought-after buildings in the area, thanks to its rich abundance of resort-style amenities.
The Bay Club is one of the largest complexes on Siesta Key, by the number of residences and the amount of property the community occupies. Every residence can take in the beautiful views of the ocean from their sliding-glass door and patio, which overlooks the community garden, freshwater lakes, and greenspace at the heart of the complex. While the units were originally...
If you currently own a home or follow the Sarasota real estate market, and have seen large increases in flood insurance premiums as a direct result of the ever changing federal program, there may be hope to reduce these rates according to some experts.
Many homeowners are not aware that the flood map can be changed. Almost all federal officials realize there is a strict limit on their resources and funding, and these mapping decisions can be questioned.
According to the Federal Emergency Management Agency, homeowners need to be aware of these changes and what has caused them.
Currently homeowners in...
If you are looking to purchase a newer Siesta Key beachfront condo, look no further than the Hyatt Residences. 
This incredible resort style complex is one of the newest gulf front buildings on Siesta. It offers breathtaking views from almost every room and a stunning view of the sunsets from the balcony. The residences are designed to the highest standards of the Hyatt name. There are several different floor plans to consider. Several of the 3 bedroom units start in the low $1mm while the sprawling 4 bedroom layouts with a full gulf view are close to $2mm. The pool area is located just steps from the beach and provides a tiki bar and cabana area for relaxing, gathering, and enjoying...
If you have been thinking about purchasing a Siesta Key Condo or home as an investment, here are some things to keep in mind:
Current Market Trends
Due to the recent volatility in various types of investments, the trends are showing that real estate is now in the forefront of investors’ minds. As prices dropped in some areas of the country over 50% many savvy buyers are seeing an incredible opportunity to capitalize on the market corrections. On Siesta Key, one of the most popular destinations in Florida and world famous for having the #1 beach in 2011, we are seeing a resurgence of investors purchasing property.
If you have been on the fence as to whether or not to get into the market, here are some thoughts to keep in mind. Siesta...
Recently I had the opportunity to represent a buyer purchasing a Siesta Key condo unit at Sunrise Cove. The buyer loved the unbelievable bay views from the unit and the fact that he could walk across the street to beautiful Turtle Beach. This 783 sq ft, 1 bedroom, 1 bath home was bank owned and listed at $179,900 and our buyers were able to buy it for $170,500 (public record).
If you haven't had the chance to take a look at Sunrise Cove condos, here is an overview.
There are either 1 bed/1 bath or 2 bed/2bath units available, two pools; a large heated pool with a cabana on the bay and a smaller heated pool also on the bay in the middle of the complex. There...
