Home Buying in Sarasota>Question Details

Craig, Other/Just Looking in Western Ma.

What are the prospects for the neighborhoods to the East of Payne Park?

Asked by Craig, Western Ma. Sat Mar 23, 2013

To an outsider, they seem like a good location - walking distance to downtown, the park(s) and a lot more, close to everything - but I see really low housing prices and mostly foreclosures. Could a local clue me in on that part of Pelican, Novus, Wood, etc? Shouldn't it be starting to improve like Laurel Park and Gillespie?

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David Barr’s answer
A lot of investors had successful rental properties in that area at the height of the boom, and then decided to walk away from them when the market tanked.

There is every indication that area is primed for growth based on the reasons you stated. I would any day recommend the Paver Park and Arlington Park areas over Gillespie Park to an investor or an owner occupant.

David Barr, Broker Associate
Allison James Estates and Homes
homesinsarasota.blogspot.com
@sarasota_homes
2 votes Thank Flag Link Sun Mar 24, 2013
David Barr is 100% correct in his answer.

If you are looking for an area that is reasonably priced, has older homes and is close to downtown this area is worth a consideration. Keep in mind that it may take a while for this area to turn around because of all the foreclosures and short sales. However, if you are willing to have a long range view this might be the right area for you.

BRIAN A. MCGREEVY
Broker/Owner, REALTOR, MBA, GRI, ABR, SRES, RRS, AHWD
Five Year Winner - Five Star Award- Best in Client Satisfaction
Sarasota Home Realty
2100 Constitution Boulevard
Sarasota, FL 34231

E-mail: SarasotaReal@gmail.com
Phone: (941) 544-6763 FAX: (941) 866-7588
1 vote Thank Flag Link Sun Mar 24, 2013
Craig,

Jobs that pay for the homes --where there are higher paying jobs and more amenities -- we are finding more expensive homes. Or homes that are being brought up to the value that income earner desires! (and second homes)

Investment gurus say the most promising sectors for 2013 are Technology, Energy (less utilities) and Industrials. Real estate is saying -- move to Sarasota! Both have the most exposure to a broader economic recovery and look to do quite well as we progress into the year. We are taking advantage of industrial growth and family spending.

Sarasota has some strong technology solutions firms. Most notable are Roper Industries, Coldwell Banker's Florida Home Office , Sarasota Memorial -- to Ringling influenced graphics and films. Technology firms show cash on their balance sheets. This sector of business has more cash than debt. Additionally, they offer cash return advantages to their investors and continued industry and job growth to Sarasota. -- helping those neighborhood near by.

Sincerely,

Sandra LaFlamme, Realtor
Coldwell Banker
0 votes Thank Flag Link Tue Apr 2, 2013
Keep in mind that homeowner insurance will be high for these older homes as well.

Tammy Hayes, Realtor
RE/MAX Palm Realty
tammyhayesre@gmail.com
941-276-6185
http://www.tammyhayes.remax-florida.com/
0 votes Thank Flag Link Sun Mar 24, 2013
This an ok area but you have to remember they are older smaller home. Many not in the best condition in need of updating and replacement of a/c roofs ect. This is why you are seeing lower priced homes. When I first came here I heard a few times I was asked why are you showing me old homes, they were about 20 years old. Where I came from there were homes 100 to 300 years old, in N.J. It is a different climate here. a lot of new construction. and so on. Here they take an area and build 100 to 300 homes and call it a subdivision. Up north they just say your from the north side or you live on the south side. Call me any time for specific's, Michael B.

Michael Beninato
RE/MAX Alliance Group
cell: 908-578-0886
email: michaelb1@remax.net
0 votes Thank Flag Link Sun Mar 24, 2013
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