You've received some good advice from local experts; but, to answer your question directly, the bottom line is:
Unless, of course you're are able and willing to carry/hold the property for 5-10 years. If that is the case, go for it! If not, pass... Very few areas of FL have not been destabilized buy the lack of "buyer confidence"--please DO NOT confuse that with lack of actual value. It is PERCVIVED value, and the consumer ultimately determines the market with their purchasing dollars. Sarasota County WILL recover (it's a beautiful place), but it may not be the wisest investment for short-term goals (anything less than 7 years). Best wishes and happy hunting!