Homes sales in Florida increased by as much as 34 percent in October marking the 13th consecutive month with increased sales as measure in year-to-year comparison. There were 14,419 homes sold in September this year compared to 10,778 for the same period last year. The increase in condominium sales was even more dramatic. Statewide the sales of condominiums increased by 77 percent over September 2008 and nearly 9 percent over August of this year. Over 5,000 condo were sold in September compared to 2,870 in September of 2008. With so many good deals among foreclosures and short sales it is no surprise that sales are up. If you would like to register to receive daily updates about foreclosures in our area visit www.bankownedpropertydeals.com .
Archive for the ‘Sarasota Foreclosures’ Category
Foreclosures at Arielle on Palmer Ranch
October 20, 2009Right now the are two very nice deals on foreclosures at Arielle on Palmer Ranch. This is a very nice gated luxury condominium community. Click here to view the details about these bank owned properties. Visit our website www.palmerranchcondominiums.com/arielle for more information about the community or visit www.bankownedpropertydeals.com to get daily updates about other foreclosure as they come to market. If would rather try before you buy, we have a great rental opportunity at Arielle. It is a furnished three bedroom unit with lake view and two car garage available for $1,700 per month. Call 941-650-4626 for more information. Click here to view the rental.
Sarasota Bank Owned Real Estate
October 9, 2009With prices in Sarasota on the rise again, time is running out to get the best deals on bank owned properties and foreclosures. If you are interested in getting a list of foreclosure property deals in Sarasota, Bradenton, or the Keys or Lakewood Ranch, visit www.bankownedpropertydeals.com and register. We are seeing an increase in interest among buyer and investors looking for properties since the The Today Show named Sarasota as the number one place in the country to buy real estate. Don’t miss out, there are still some great deals.
Arielle on Palmer Ranch
August 19, 2009Arielle on Palmer Ranch is a nice residential condominium enclave of 192 units. Each of these luxurious condos has a private garage and most of nice views of the lakes. There is a community pool and a jacuzzi in this gated community. On average the units are about 1800 square feet in size. Visit www.palmerranchcondominiums.com/arielle to request more information. Prices for two bedroom units at Arielle currently range from $186,000 to $289,000.
Legacy Golf Course
August 16, 2009The Legacy Golf Course in Lakewood Ranch is soon the change hands. Due to the slowing economy the number of rounds being played have been down. The current debt to Textron Financial is not being adequitly serviced under the current rate of play. The course is not expected to close but the course will no longer be by Troon.
Buying Foreclosures
July 17, 2009Harris Interactive recently conducted a study in which it was determined that 55 percent of people surveyed identified them selves as likely to purchase a foreclosed property. Back in November of 2008, the same survey indicated that only 47 percent were likely to purchase a foreclosed property. People currently renting (68%) were among the most likely to buy a foreclosed property. Here in the Sarasota / Bradenton real estate market we are experiencing the effects of this increased interest in foreclosure properties which make up a high percentage of the closed transactions. There are some excellent opportunities among the foreclosures in our market. However, not all foreclosure are good deals because in some cases the costs associated with repairs and upgrades may be too high. The best deals may newly constructed homes that were purchased by out of town investors at the end of the boom. In many cases these foreclosed properties have never been lived in and are in excellent condition. If you are interested in such properties, give me a call at 941-650-4626.
Sarasota Foreclosures
May 14, 2009After a brief moratorium on bank foreclosures we are seeing a spike in foreclosure activity. March foreclosure activity amounts to a 40 percent increase over previous months. Other market indices point to a market recovery so current foreclosures make for wonderful opportunities for smart investing. If you are interested in purchasing distressed or foreclosed properties give me a call at 941-650-4626.
Multiple Offers
May 7, 2009USA Today just ran an article entitled; “More homes get multiple offers; downturn may be nearing end”. A similar article just ran in the Sarasota Herald Tribune. This is definitely the case hare in Sarasota. We have three years of pent up demand and yes there are many properties on the market but many homes are overpriced. With the best deals getting all the attention multiple offers are common. We are even seeing properties sell for more than asking price. I was just notified that a cash offer placed this morning was declined by a seller who received an above list offer which was also for cash. The property garnering multiple offers was a two bedroom condo beach condo on Siesta Key which was a bank foreclosure listed at only $299,000. This property is currently assessed by the county tax office at $545,000 and sold for $649,000 in 2005. If you are looking for deals like this give me a call.
First Time Home Buyer Credit
February 19, 2009Under the recently passed $789 billion economic stimulus package first time home buyers may receive a tax credit equal to 10% of the homes value up to a total of $8,000. Buyers who have not owned a home during the past three years are also eligible for this tax credit. Unlike previous programs, this tax credit is not required to be repaid unless the home is resold in the first three years of ownership. To qualify for this tax credit home buyers must complete their purchase before December first of this year.
Now is a wonderful time to be a first time home buyer. Priced are down and great deals can be made among the many bank owned properties. With a mortgage deduction on mortgage interest paid coupled with this tax credit buying a home at today’s prices may be a great financial decision.
Bank Owned Developments
February 3, 2009The current economic climate is creating many wonderful opportunities. Currently there are many available bank owned properties suitable for future housing development. These properties consist of multiple housing lots that are available in partially developed neighborhoods. With the credit crunch banks have refused to renew short term loans that had been given to developers. Having now foreclosed on these properties, the banks want them liquidated at prices that are far below original cost. Many such properties are complete with all infrastructure in place and ready for new homes when the market recovers.
Local builders such as Pat Neil are currently selling many new homes in developments where the land cost is low enough to make new construction profitable at today’s market pricing. At the new lots prices that are available from the banks these lands will perform well for savvy investors who take advantage of such opportunities.
Siesta Key Condo, Bay Tree
January 28, 2009Bay Tree condominiums on Siesta Key is one of the island’s best values. Bay Tree offers direct beach frontage, boat docks, beach cabanas and two pools. There is one beachfront building and two buildings on the bayside of Midnight Pass Road. Currently there are some very opportunities including one of Siesta Key’s lowest priced full Gulf view two bedroom units which is currently priced at $399,000. I always like to look at the entry level properties in good areas and so I am particularly fond of the one bedroom unit that is currently listed with another broker in MLS for only $173,900. It is a bank-owned unit that is assessed at $248,000. The current asking price is bellow the price at which units like this were selling in 2002. This is a very good value. The unit can easily be rented in the winter time for about $3,000 per month. The quarterly assessments are $933. A great deal for a condominium with beach access and boat docks. There is no property on Siesta Key that is priced lower and offers more amenities. If you are interested in this property give me a call at 941-650-4626.
Siesta Harbor Foreclosure Deal
October 1, 2008There is a very nice one bedroom unit available at SiestaHarbor right now. It is not my listing but worth looking at. The asking price for this one bedroom unit with water views is only $174,900. The last unit like this to sell at Siesta Harbor was sold in November of 2007 at which time the selling price was $300,000. Current listing are lower but the next lowest price is $245,000. Siesta Harbor is a 55 and over community with nice amenities, beach access and deep water dockage suitable for large sail boats. The on-site rental program will provide rental services at a fee of 17% . For more information on this unit give me a call at 941-650-4626. To view pictures and information on Siesta Harbor you can click here.
Sarasota Foreclosure; Condo on the Bay
July 28, 2008A nice bank owned unit at the Condo on the Bay was just listed for $519,900. The unit is a two bedroom two bath is 1,770 square feet and has great views of Sarasota Bay from the 14th floor. The unit has been recently upated. Click here for additional information on this foreclosure listing. Click here to view more information on the building.
