Home Buying in Sarasota>Question Details

Christine Fi…, Home Buyer in Dayton, OH

I would like to get people's opinions on some newer Sarasota condo sub-divisions...

Asked by Christine Finke, Dayton, OH Mon Feb 27, 2012

Of the following condo sub-div's, which would people recommend and which should I stay away from?
Carolina Landings, Stonehaven, Bella Villino, Sabal Bay, Parkridge, Las Palmas, Plaza de Flores, Mediterranean Garden Homes, Willowbrook.
Or are there other newer sub-div's in the $125 range I should look at? I'm looking for a home for myself, not an investment property.

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Answers

9
Of those you listed, I prefer Plaza de Flores. It is located in Palmer Ranch and most properties have great views. There are many that fit into your pricepoint.
1 vote Thank Flag Link Mon Feb 27, 2012
Ms. wong by law we as agents can not tell you where to stay away from , my best answer would be 1st and foremost come on down here and go through these areas 1st and get a feel for the community, at a price of 125,000 you are limited so you are not getting the ritz condo at 125,000 and plan on making 20% on your money, you need to look this as simple an investment, if you are only looking at rental income and you are making a good return does it matter where it is if you are not living there, are you looking at a place you are getting a good yearly return but may not increase alot in value or are you looking at something that the value will go up more than your yearly return for example 125,000 on Longboat will rent more than a condo off the island
so before you ramdonly ask something like this really need for info. i mean i know of a condo for 60,000 getting a good return but is it in an area you would livbe in i have no idea
Web Reference: http://theleventhalteam.com
0 votes Thank Flag Link Sun Mar 4, 2012
Hi Christine,

Robert's response was absolutely correct and an important consideration if you wish to obtain a mortgage. Financing condos can be a challenge if the property is not FHA or Fannie Mae approved. You can research this by checking out the links below:

https://entp.hud.gov/idapp/html/condlook.cfm

https://www.efanniemae.com/sf/refmaterials/approvedprojects

I am located in SW Florida and would be happy to answer any other financing questions for you.
Good luck in your search for a new home!

Alice Barker
Licensed Mortgage Broker
NMLS #371609
Ameritrust Mortgage Associates LLC
Cell: (904) 614-7312
Email: AliceB@ameritrustmortgage.info
0 votes Thank Flag Link Wed Feb 29, 2012
Hi Christine,

I'm afraid you could put this question to a hundred different realtors and get a hundred different answers. I would suggest that you find a realtor you are comfortable working with, if you haven't already and let them know what's important to you in regards to purchasing and let them guide you and help you to make the most informed decision for yourself. Knowledge is key.

My best,
Terri

Teresa M. Fellows
Broker/Associate
ERA Waterside Realty
941-350-4297
tmf4257@mac.com
0 votes Thank Flag Link Tue Feb 28, 2012
I am closing on a unit tommorow in Plaza DeFlores very pretty there Palm Aire is another great area for nice condo's and Tara is very nice it is in Bradenton very close to Srasota. Carolina has a great location for shopping, 2 stories and a tad tight floorplan. Willowbrook is gona be great but I don't think they are doing condo's there just single family homes.Most important is the fee's to check out if you are gona rent it and the rules and restrictions on renting. I would be happy to help call me anytime Mike Beninato 941-479-2777.
0 votes Thank Flag Link Tue Feb 28, 2012
Hi Christine,
All good answers below. Now you need to talk to the agents below and work with whoever you are most comfortable with.
Which condo is right for you is a matter of opinion - Yours - What are your likes and dislikes, what tpye of location are you looking for, activities, proximity to shopping etc. working with someone costs you nothing, but the information you get can be priceless.
Good Luck!
Genevieve Ramachandran
0 votes Thank Flag Link Tue Feb 28, 2012
Hi Christine:
It is important that you consider these condos based on how you will finance your purchase in addition to their other attributes. If you are paying cash all of these condos have merit depending upon what is most important to you such as proximity to beaches, tennis courts, golf etc. But if you will be seeking a mortgage, some of these condos will not pass muster by the mortgage company and will be difficult if not impossible to secure financing. With condos and financing, keep in mind that not only you have to be approved, the condo does also. Some things that banks and mortgage brokers look at is the percentage of residents delinquent on their condo fees and the amount of reserve funds,in addition to other criteria.
Bob Schult
Key Solutions Real Estate Group
941-915-9797
0 votes Thank Flag Link Mon Feb 27, 2012
Hello Christine,
It's always somewhat overwhelming when selecting the right residence that fits your criteria although there are some things that you'll need to consider such as location in the Sarasota area, community amenities they have to offer, deed restrictions within the association, pets/ not pets, school districts if in the event you have children. It really will depend on your realtor and the knowledge they can convey in order to assist you in making an educated and sound buying decision. All the very best of luck in your search and please let me know if I can be of further assistance to you.

Lee Rugh~
941.320.0677
0 votes Thank Flag Link Mon Feb 27, 2012
Those are all high demand condos that have seen a lot of activity in the past year. Prices are slowly inching up in these subdivisions because of demand.

You should also include Serenata and Bradford Manor in your list. It all boils down to your personal tastes.

Best regards,
David Barr, Broker Associate
Sandals Realty
941.870.0656
Twitter: @sarasota_homes
Blog: homesinsarasota.blogspot.com
0 votes Thank Flag Link Mon Feb 27, 2012
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