You would probably do better looking a little farther south. North Port, in Sarasota county, would be a great place to start. You could get a newer, 3/2/2, 2000 sq ft + for between 120K-180K. You would have a better chance of picking up a home that would cash flow here.

Please visit my website listed below to find out more about the area. There are some great foreclosure deals right now. We can send you a list of properties in the area.

Roxanne Moore, Realtor
Re/Max Anchor Realty
941-626-3926
twomoores19@comcast.net

M,

The real estate market is "regional." There are locations that despite the media attention to a dismal market, find property values appreciating. Our local market has been going through a transition that for nearly three years that many people feel is near an end.

We are currently in a "buyers market" that is favorable for the buyer and less ideal for the seller. The abundance of property for sale may be percieved by some as "very bad" but by others as an opportunity. There are recent indicators of the return of a stronger market that might signal a leveling or even an increase of prices.

In short, we have known for a long time that when large masses of people are selling...it's time to buy. There are excellent opportunities for today's buyers that are ready to look beyond what they see and envision what could be.......

We would be delighted to support any further interest in the area.

Hope this helps.

The "Eckler Team"
Michael Saunders & Company
billeckler@michaelsaunders.com
941-408-5363

Now is a great time to buy here in Sarasota and if the home is in nice, clean condition and is priced at a reasonable rental rate depending on the location, she should be able to rent it. I can help her with finding a renter and am already working with several renters looking in the area. My e-mail address is JodySkapyak@michaelsaunders.com.

Again, in my opinion, if she finds a property she likes, negotiate it to a price acceptable to her, hire a home watch company, put moth balls in the closet, and move when she is ready.

"You Can't Make a Good Deal in a Bad Market - Just Like,
You Can't Make a Bad Deal in a Good Market."

Bonjour,

Si votre soeur ne me contacte pas, je ne pourrai pas l'aider. Elle peut m'appeler au 001-941-907-1567 ou me contacter par e-mail sur michelbergier@kw.com

Au plaisir

Michel

Both professionally and personally I will say the rental market is poor in Sarasota. Since your sister has a few years before moving, my advice is for her to follow our market and she'll have the opportunity to purchase at depressed market prices without having any headaches. If she does decide to purchase early, houses needs care, so have her look into communites that offer outside maintenance and may be gated or have additional security. These communities offer additional amentites and peace of mind. If she
prefers not to live in a Deed Restricted community; then additional scrutiny of the area is needed. Have her check out http://www.myclubrealty.com She'll be able
to easily search for Bank owned (reo's) or short sales which in todays market are the best value. We also offer full mls searches of Venice,Fl., Sarasota FL., Bradenton, Fl. which include all the barrier Islands.
She has plenty of time to educate herself; so when purchasing she'll make a comfortable decision.

I agree with the information from Paul, but my advice is to go ahead and get a great deal on a recently built foreclosure and sit on it for a few years. The rental market is not really so bad - the homes that are being foreclosed on are creating new renters. The taxes and insurance are the biggest problem but, the newer the home, the less the cost of the insurance. Taxes have also been going down very slowly for the last 2 years and I am expecting (hoping) for a major decrease this year. I own 4 rental properties in Sarasota and all are rented for a good rate and on year leases.

There are great deals and even if the prices keep going down, a low ball offer and a good way of getting next years price today - banks are willing to negotiate.

Good Luck, Judy

BEWARE of anything in SW Florida.

Taxes and Insurance rates are super expensive in Florida.

There is a glut of homes on the market, and there are no real jobs to make it
affordable for the working class to live there.

The main industry in Florida is construction and service jobs like working at Walmart.
Construction is at a stand-still, so ……..

Florida real estate goes in cycles, and the hype of 77 million baby boomers retiring,
and statistical data indicates that 22% of retiree’s moves there have NOTHING to do with
what the baby boomers are actually doing.

Most of them are still working and will continue to do so for the next 10 years.
Long story short, there are no underlying fundamentals to make Florida
a good real estate investment at this time.

I lived there – Read the book “Who Moved My Cheese” and moved.

Prices are plummeting and may continue to do so for quite some time.

There are THOUSANDS of foreclosures which are not on the market yet. They need to go through the banking process first. These Bank REO’s will be coming on the market more and more all the time.

Nationally, there are about One million mortgages in foreclosure right now, and Two Million MORE coming up over the next 18 months. Florida is one of the top states in foreclosure.

My opinion ….. if your sister finds a nice house at a price she is happy with, buy it and hold.

Do not waste her time trying to rent it – she will end up with a repair bill at the end of the rental.

If she is not in a hurry, wait until after the election.

Some may hate me for this information – the truth hurts.

If the Governing bodies of the state had any intelligence, they would and could fix it.

Unfortunately ……

I'm going to have to disagree with those who have said that the rental market is good in Sarasota at this time. It has been shown that rental rates in Sarasota have declined, perhaps as a result of the glut of rental properties on the market. This situation may or may not improve in our current weak economy. Will more people choose to rent because they cannot afford to buy a home? Will fewer people rent vacation homes in Sarasota because travel has recently become more expensive? Without clear answers to these questions, I think that your sister would be wise to reconsider her plan.

I must also disagree with those who suggest North Port would be a good location for a rental investment. It is true that you can buy "more house for your money" in North Port, but as a landlord you also compete with too many other people who are attempting to rent their homes. Many of these people are not experienced landlords, they are simply unfortunate buyers who are trying to get some income to help with meeting their expenses on a property that they cannot sell. Their rental rates are low, generally not enough to generate positive cash flow. Of course, if your sister pays cash or makes a large downpayment, she may be able to rent the home for enough money to cover her expenses. However, she must also consider that there may be extended periods when the home will be vacant. She'll have no income, and will still have considerable expense to maintain the home. You have said that she needs to rent it to cover the expenses. In my opinion, the risk is very great that she will not be able to keep the property rented.

I do not think that now is the time to be an absentee landlord in Sarasota, unless you are an experienced investor who understands the risks and can afford to carry a vacant property for an extended period of time. There might be some excellent opportunities for rental investments out there in our market today, but I think that it requires a lot of research to identify them. To make it work, active management by the investor may also be necessary. You can't expect to simply buy a property and turn it over to a local management company.

I know that the job of a real estate agent is to sell properties, and I am sure that this is something that the other agents who have posted previously do very well. We all like to promote the positive aspects of our community, and are happy when others choose to buy a home or investment property here. We must, however, not lose sight of our responsibilty to clearly disclose information that may not be readily apparent to a potential buyer. A recent study by the New York real estate research firm Integra Realty Research showed that the Sarasota commercial and residential rental market is weak in comparison with other markets in the country. Only 5 of 57 markets studied showed apartment vacancy rates above 9 percent, and Sarasota is one of them. This is something that Realtors should know, and should discuss with their buyers.

In conclusion, I must say that yes, it is possible to purchase a home in the Sarasota area in the 150-250k range and rent it for enough to cover expenses. Many factors are involved, however, and in my opinion the risk is too high to recommend it to your sister without knowing her circumstances. As a real estate professional, I would rather lose a sale than make one knowing that it was an unwise purchase for the customer.

I would be happy to discuss the Sarasota real estate market with your sister, to help her to decide if she would like to pursue an investment in Sarasota. Please ask her to contact me at the email address below.

Charles Offer
Coldwell Banker Residential Real Estate
423 St. Armands Circle
Sarasota, FL 34236
(941) 321-9664 http://www.CharlesOffer.com http://www.FloridaMoves.com/Charles.Offer
charlesoffer@comcast.net

Tell your sister that if she needs a french realtor in sarasota, I am one of the few. Tell her to read my profile first.

The rental market is very challenging right now because many people who cannot sell their houses have turned into landlords. The bottom line is that if she can can put a substantial down payment, she might be able to break even. Tell her to contact me. In french or in english....

michelbergier@kw.com


Michel

M,
This is just my opinion but to be able to cover her expenses, insurance,taxes,etc. she will need to put down at least 50% of the purchase price.
There are too many investors trying to cut their losses by renting out home they can't sell.
On the other hand maybe by using euros this may not be true!

Ines
ialvarez@prutropical.com
Prudential Tropical Realty
813-784-2702

Hi M, I concur with the answers the others have given so far. Your sister should be able to buy a home and rent it out easily. There are many management companies that can find her a renter and also collect the rent and handle any situation that might arise. Depending on how much money your sister puts down on the house, she should be able to cover most of her expenses. If she pays cash, she is in an even better situation. Let me know if I can be of any assistance. By the way, my husband, also a realtor, speaks French fluently. We will do what we can to help your sister.
Nancy
Grenier Group
941-544-2488

M,

The Sarasota area has a very strong rental market largely do to the beautiful climate and incredible beaches. Because of our seasonal tourist traffic from December thru May these months bring the highest demand. Important to note is that peak season rentals for a period of a 4 month rental will bring nearly as much as an entire annual rental.

A nicely furnished condo will easily bring between $2,000 and $3,000 per month during the season.

This is an ideal time to be considering purchasing rental property since prices have dropped, the inventory is huge, and many sellers are highly motivated.

We would be happy to send you samples of some typical condos in your price range.

The "Eckler Team"
ecklerteam@comcast.net
941-408-5363

the rental market is very good. As we speak with all the short sales and foreclosures, it has been some time since the rental market is actually cash flowing.. Homes are selling for much less these days than than several years ago making it work for investors covering their expenses.. When the market turns around the investors with rental homes will be able to re-sell them making a good return on their investments..... or keep them for investment purposes.

Thank you for your question.. it was very timely for the market......

Michael herschberger
Keller Williams Realty

Rentals properties are doing fairly well in Sarasota and Bradenton. With so many foreclosures, many families need to rent. Prices have been reduced to promote better cash-flow.
Jim Soda 941-809-7759
JimSoda.com
Prudential Palms realty
Sarasota, Fl. 34236