Home Buying in Sarasota>Question Details

jss1266, Home Buyer in Sarasota, FL

Looking to buy a 2br condo or single family to possibly rent annually or monthly in the Sarasota area. My maximum price is 175,000. Any listings??)

Asked by jss1266, Sarasota, FL Sun Feb 10, 2013

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9
plenty just depends on what type of return you are looking to make, is this cash or loan also?
if you are looking to rent and use, more than likely going to rent it for season and live this out of season to maximize your return
there are alot more questions also i need answered to better help you
call me when you can and we can discuss your option
David
The Leventhal Team
http://www.theleventhalteam.com
0 votes Thank Flag Link Fri Feb 15, 2013
Jss1266, yes there are listings, but, your desire to buy and then rent is pretty vague. Do you have a game plan? Have you consulted your accountant? What is your ultimate outcome?

Most condos and even some HOAs have rental restrictions. An annual rental will be easier than a monthly rental which will be impacted by taxes and ordinance restrictions by area/zip code.

It is easy to buy. What your question does not disclose is your intent behind the purchase. Will this be a tax write off? Will you be using this yourself? If yes, when? There are so many additional questions. If you do not consider them prior to buying, then you may end up with a condo that just does not work for you or ends up to be a headache.

Best regards,

Lynn Brock
Brock Realty Inc.
941.313.1234
http://www.brockrealty-inc.com
0 votes Thank Flag Link Thu Feb 14, 2013
Hello there, I am a Realtor with Horizon Realty International, specializing more in University Park area which is on the border of Sarasota and Manatee county, Palm Aire is a lovely area to own and rent,just north of University Parkway. Safe, beautiful and in demand, with famous golf course, close to major shopping airport and I-75.
Please let me know if you are interested in working with me, my e-mail is SarasotaGenie@gmail.com
941-296-5055
Genie Barlan, Realtor, e-Pro
Have a great day :)
0 votes Thank Flag Link Mon Feb 11, 2013
Hi There!
Finding a single family or condo is definitely possible in the Sarasota Real Estate market for under $175,000.

As others have mentioned, there are certainly a number of factors that you will need to consider that come into place.

First, You need to decide how you will use the property. Each community has different terms based on the regulations of the HOA when it comes to rental minimum. Some allow short term, others do not and require a minimum of a yearly rent. So you would need to decide if you want to enjoy the property yourself part of the time upfront. This of course streamlines the communities you will be searching in.

What size sq footage would do, is a townhome style with stairs desirable, or is a condo first or second floor preferred, or is a garage essential. Or do you prefer brand new construction? We can Help.

Rentals are definitely greatly desired in the Sarasota Homes Market. Many displaced homeowners from foreclosure or short sale have pets. Most Condo HOA's do not allow tenants to have pets.
This is a challenge for tenant, but an asset to a landlors renting out a single family home, as long as pets are permitted.

We would love to help you find the right community for your investment

Contact us, so we can talk directly and help you move in the right direction. We can set up a search for you that meet your requirements and you can get listings daily.

Check out our website, w/ lots of community info. You can sign up for sarasota dream home property updates.

Sincerely,
Stacey LaRosa
LaRosa Team Realtors
Atchley International Realty
(941)539-1596
0 votes Thank Flag Link Mon Feb 11, 2013
Hi,

As some of the others have said, it would help to have more specific information as to what type of property you're looking for (villa, townhome, condo 1st floor, condo 2nd floor, etc), size of the condo unit (2 bedrooms, 3 bedrooms, square footage?), what sort of amenities you want in a community (pool? clubhouse? tennis courts?) and more information on location (south Sarasota, downtown, Lakewood Ranch??). You didn't mention monthly maintenance fees, but those are often a factor for condo buyers, as they can range from the low $200's per month to over $400 per month.

Some condos communities do allow monthly rentals, but most restrict them to 3 or 6 months minimum, a few annual and some do not allow rentals at all, so be sure your agent asks the management company specific questions about rental restrictions on the condos you put on your short list, as sometimes the listing agent has incorrect or missing information.


You did ask for information on available condos and, since I have worked with and am working with condo buyers, I do know quite a bit about current condo inventory in this price range.

Listing status may have changed over the weekend, but here are some condos/villas/townhomes available as of last week.

Starting in south Sarasota, within Palmer Ranch, Plaza de Flores had a couple of listings, one has 3 bedrooms, the other 2 bedrooms. Layout is good. The 3 bedroom listing needs new carpet in the living room. Plaza de Flores has a nice clubhouse and community pool. Location is very close to the mall and minutes to Siesta Key.

Nearby is Bella Villino. Similar amenities to Plaza de Flores but this one was a condo conversion from apartments, so soundproofing between the units is not as good. Beautiful clubhouse, nice community pool. BBQ grills within the community for grilling. Some units have deeded garages, some have deeded carport spaces, others have no covered parking. The current listings are a couple of 1 bedroom and 2 bedroom units.

Also in Palmer Ranch is Pinestone. It was built as condos, not a conversion. Huge, resort-style community pool with spa, nice clubhouse with small movie theater, tennis & basketball courts. Each unit has assigned carport parking space. Also very close to the mall and minutes to Siesta Key. Pinestone as 2 and 3 bedroom units, there was a 2 bedroom unit for sale.

Stonehaven, just north of Palmer Ranch on Clark Rd. New construction, built by Centex, townhomes with garages. (You'll find garages are rare in condos here, most will not have covered parking or a carport space. I think that listing did go under contract, but new ones pop up frequently.

Center Gate, south of Bee Ridge, has a couple of villas for sale. Villas there often need some sort of updating, but size is good, they have 1 car garages, and more green space than you find in a lot of other condo communities. Some portions of Center Gate are age restricted to 55+.

The Meadows, an older master planned community in NE Sarasota has a number of condo and villa communities. The Meadows is a golf and country club community but membership in the country club is not mandatory. The Meadows offers a number of walking trails, nature preserves, lakes. It is also close to University Parkway shopping and location of the soon to be built new mall (construction has started, to be completed sometime in 2014).

Here are just a few of the options in The Meadows:

Heronmere - there are 3 bedroom units for sale there. Almost 1500 sq ft living space, nice park-line setting, one has a carport. The one I saw needed some update but had good potential.

Longwater Chase - end unit villa, overlooks one of the three golf courses. Price is above the sold comps but it's been on the market for 3 months so they may be more open to offers now.

Morningside - cute, small community within a short distance to the country club. The villa for sale has a tenant that does not make housekeeping a priority, tenant lease is up in August. The unit has a good layout and private, woods view from the lanai.

Sheffield Greene - several units for sale there, 2 bedroom, about 1100 sq ft, 1 car garage. I saw 2 of those recently, 1 needed updating, the other was nicely decorated and being sold turnkey furnished. It had 2 screened lanais.

Somerset - 2 bedroom villa with 1 car carport, some updates, nice little patio area.

Springlake - 3 bedroom townhome with lake views. The master suite and kitchen have been updated.

If you're willing to go into south Manatee county, there are a number of opportunities in Lakewood Ranch and Palm Aire (golf & country course community similar to The Meadows).

Call or email me if you'd like more info.

Diane Christner, Realtor, GRI, SFR
Realty Executives Solutions
Sarasota, FL
cell: (941) 726-7109
email: DianeMC21@aol.com
http://www.DianeChristner.com
0 votes Thank Flag Link Mon Feb 11, 2013
looks like people beat me to my thoughts,
let me ask you this,
what is yourprimary purpose
1.are you looking at strickly return on your money?
2. something you want to live in later but rent out now?
3. what % of return on your moneys will make you happy? and please do not say the most , be realistic so I can help you better please. this is why you asked the question is to get good advice.
4. Only sarasota? or open to other areas, ie Bradenton, Palmetto, etc.......
these are all very important
so if you would like to call and discuss your options please do not hestitate to give me a call. I am here to help but for sure need more info to better help you
David Leventhal
The Leventhal Team
http://www.theleventhalteam.com
0 votes Thank Flag Link Mon Feb 11, 2013
There are hundreds in this price range I just bought a 2/2 condo in Lakewood Ranch for 70k and am getting 1050 per month for it. Please contact me to go over some of your wants and needs and I will set you up in a search where the listings will come to your email every day.

Michael Beninato
email: michaelb1@remax.net
cell 908-578-0886
RE/MAX Alliance Group
0 votes Thank Flag Link Mon Feb 11, 2013
Yes, there are some homes in your price range. Feel free to search my MLS web site for free at tammyhayesre.mfr.mlxchange.com. If you could send your complete search criteria, I can set you up in the MLS to receive listings automatically. If I can answer any other questions for you, let me know.

Tammy Hayes, Realtor
RE/MAX Palm Realty
tammyhayesre@gmail.com
941-276-6185
0 votes Thank Flag Link Mon Feb 11, 2013
You will have some good choices in your price range. Here is a link to a few listings in one of the best areas in Sarasota/Bradenton for rental demand and potential property appreciation:

http://mfr.mlxchange.com/DotNet/Pub/EmailView.aspx?r=1079241…

I have other condo recommendations for investors on my website: http://www.davidbarrhomes.com/investors

I look forward to the opportunity to work with you.

Regards,
David Barr, Broker Associate
Allison James Homes & Estates
Blog: homesinsarasota.blogspot.com
Twitter: @sarasota_homes
0 votes Thank Flag Link Sun Feb 10, 2013
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