Hi I am looking at buying a property in the sarasota area As a overseas buyer i like the siesta key vibe

Asked by Leon Gerber, Sarasota, FL Thu Mar 20, 2008

but dont have the budget to get a decent size lot(under $350k).I see that there are some well priced properties in gulf gate area -cheyenne road. What is this neighbourhood like ?Will it be a good investment ?
Any other suggestions appreciated.?

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16
Betsie Taber, Agent, Lakewood Ranch, FL
Tue Mar 25, 2008
Hi Leon,

Siesta is a great area but you will have to pay for it. Sarasota and Bradenton for that matter have the advantage of offering homes for every budget. If you want to be with 15 minutes from the beach, Gulf Gate is a great place but you could find great bargains in West Bradenton for houses that are newer. You should check out the Neal's community in Wysteria Park.

As far as investment poptential, Sarasota prices are now back to the level that they were in 2004, i.e. before the wild jump. You can expect a very decent return on investment if you keep your house for a few years. Real estate is the best investment that you can get into. I'd be glad to send you some info on that.

Good luck in your search.

Michel
1 vote
Kathleen Ril…, Home Seller, Terra Ceia, FL
Wed May 14, 2008
Dear Leon,

My husband and I are selling a home on Terra Ceia Island on the Gulf Coast. It is located south of St. Petersburg and in fact, as you go south over the Skyway Bridge, at the top, look to your right and you will see a body of land...that is Terra Ceia Island. I realize it is not Siesta Key, but could work better for insurance and tax purposes. It is twenty minutes from St. Pete and thirty from Tampa and Sarasota. Our home is a two story Key West style, two bedroom, two bathroom with a four-car garage under the main living area with ten foot ceilings. It is on a canal lot surrounded by 298' of water and is only three houses from the open bay. No bridges to contend with. Terra Ceia has a definite casual lifestyle, with neighbors riding golf carts, bicycles, jogging or roller blading. The name Terra Ceia translates to "Land Heavenly" and it truly is! Our asking price is $399,000 with homes around us selling for million plus. Please look at our site on http://www.zillow.com, key in 34250 zip code and look for our address 1115 Bayshore Drive. If you have any questions, contact our email address. Good luck in your search for your Florida home. Kathy Riley, ekriley@mounet.com
Web Reference:  http://www.zillow.com
0 votes
Bill Eckler, Agent, Venice, FL
Sun May 11, 2008
Leon,

Siesta Key is a great location. It has plenty to offer its residents but so do many other greater Sarasota locations.

Don't give up on this spot but also, if you are a serious buyer, do not limit your possibilities. There are so many other options.
In terms of investment and security of your purchase.....the closer you are to the water, the greater the appeal of the property for future sale. Other locations will appreciate as well but water front property holds a much higher level compared to other options.

Our recommendation is.... near the beach, on a canal with gulf access, newer construction, golf course community. Check out Venice...

Hope this is helpful.
Good luck,
The "Eckler Team"
Century 21 Almar and Asociates
Venice, Fl 34285
ecklerteam@comcast.net
0 votes
Jerry and Sa…, Agent, Sarasota, FL
Thu May 1, 2008
Don't give up on Siesta Key. Sarasota MLS currently have four home listed there under $400K. I used that number since an experience Realtor can probably get you closer to $350K.

We have lived in Sarasota for 27 years, all but 18 months on Siesta Key. I can say that the energy and life style is great here and reduces once you cross the bridges to the mainland.

Find a Siesta Realtor and they can help you with Gulf Gate too, although admittedly there is more options in there, just not as much fun.

Cheers, Jerry
Web Reference:  http://www.stromrealtors.com
0 votes
Marc Rasmuss…, Agent, Sarasota, FL
Sun Apr 20, 2008
I think Gulf Gate is a great idea. I used to live there and still own a home there. It is conveniently located to shopping, Siesta Key beach, restaurants and entertainment. The homes are affordable, the neighborhood is clean and well taken care of. The only negatives that some may find is that the homes are older and most of them are 2 bedrooms. There are not a lot of 3 and 4 bedroom homes in Gulf Gate. If you are looking for a convenient neighborhood within a few minutes to the beach and under $300k this is a great spot to consider.
0 votes
Flavia, , 34243
Sat Apr 12, 2008
Hi Leon,
How are you?

My Husand Duc, also partner in Real Estate grow up in Golf Gate for over 20 years. He loves that area.
I'm sure he will be a lot of help to you in the search for your home.
Visit our website and contact him, he is very honest and professional Realtor, Broker Sales associate.
I can say he is an expert in all that area of sarasota.

Thank you
Flavia
Web Reference:  http://WWW.SRQFLHOMES.COM
0 votes
Flavia, , 34243
Fri Apr 11, 2008
Hi Leon,

You can search for some properties in my web site is free and you don't need to register to search.
Enjoy it!

Have great weekend.

If you have any questions, just contact us at my web, okie?

Hope I helped.
Flavia
Web Reference:  http://www.srqflhomes.com
0 votes
Leah George, , Sarasota, FL
Wed Apr 2, 2008
Hi there,

I work with real estate overseas buyers and brokers often. If you are look for a home, it could be a little difficult to find a big lot for that price. However , if you are also considering a condo/ townhouse you can find it at that price range. In fact, I have a listing of a condo at $199,000 on Siesta Key. Our office is located right on Siesta Key.

If you are looking into a home with a decent lot, I know of a new subdivision in construction with homes starting at $219,000. The builder is a custom builder and very flexible. He is willing to custom build you home to your needs for $219,000. It is about 15-20 minutes to the beaches. I think those are a great investment considering they are also brand new homes. The home can be built in 4 months.
If not, there are other options closer that are pretty great deals depending on what you are looking for.

Leah George
leah@srqmls.com
941-780-0597
Weichert Realtors on the Key
0 votes
Shannon Moore…, Agent, Port Charlotte, FL
Thu Mar 20, 2008
Gulf Gate is one of Sarasota's most popular established neighborhoods. It is close to schools, movie theaters, restaurants, shopping and Siesta Key Beach. I would say there is probably a mix of all age groups in the Gulf Gate area. Most of the homes in Gulf Gate are single story, ranch, concrete homes. The Gulf Gate Gulf Club offers both a nine and 18 hole executive courses. Gulf Gate is deed restricted and it is located close to Westgate Mall.

If you are looking to be close to Siesta Key without the hefty price tag I think the Gulf Gate area would be a good alternative.

I have pictures and descriptions of most of the Sarasota neighborhoods if you would like to check out my website listed below. Please contact me with any questions and good luck with your search!

Shannon Moore, Realtor®, 941-276-8142
Roxanne Moore, Realtor®, 941-626-3926
twomoores19@comcast.net
Re/Max Anchor Realty
http://www.TropicalFloridaProperty.com
http://www.TwoMoores.com
0 votes
Charles Offer, Agent, Sarasota, FL
Thu Mar 20, 2008
There is no reason why west of the trail has to be better than east of the trail. During the recent real estate boom, Realtors and sellers tried to attach a certain aura and prestige to west of the trail locations, but believe me, a lot of the west of the trail neighborhoods are pretty average. Keep in mind that there are disadvantages to being west of the trail, one major one being the cost of insurance. The closer you are to the water, the harder it will be to find insurance at a reasonable price.

Remember also that if you're just east of the trail you will still be very close to the keys and the beaches. You also might find yourself in a nicer neighborhood because you can get more home and land for your money than you do on the west side.
0 votes
Leon Gerber, Home Buyer, Sarasota, FL
Thu Mar 20, 2008
Hi

Thanks for the responses, as Charles pointed out i was actually meaning Bayview Acres and not Gulf Gate, sorry , i will take a look at Gulf Gate , i was told west of the trail is the way to go ! Is this in fact true ?
0 votes
Antaeus Bale…, Agent, Lakewood Ranch, FL
Thu Mar 20, 2008
As Xena said Gulf Gate is definitely a great neighborhood & some of the homes there are within your price range.
I have been working with Canadian buyers for the past six months, and have sold four homes since January. As an oversees buyer there are some things you should know before you make the move to buy in the US.
If you are paying cash, you will need to make arrangements with your bank to wire transfer funds to the United States. If you are going to apply for a mortgage you should contact some US banks or mortgage lenders (oversees banks can’t own US property), prior to your arrival so you can be “preapproved” for the loan. It will save you time, and your offer will look more appealing if the seller knows you have already been approved for the money.
Most importantly though, you need to know that the rate you pay for the loan will be higher than a US citizen would pay…sometimes ¾ of a percent more. That is because as a “foreign investor” you pose a greater risk to the lending institution.
For more information go to my web site http://www.antaeusb.com, click on the Financing tab at the top, than on investors below the picture.
0 votes
Charles Offer, Agent, Sarasota, FL
Thu Mar 20, 2008
BEST ANSWER
If you are considering homes on Cheyenne St., you're actually looking at Bayview Acres, not Gulf Gate. Bayview Acres is west of Tamiami Trail, and Gulf Gate is east of the Trail. I think that you'll find Bayview Acres to be like many other neighborhoods that are near the water - they're constantly changing because of continuing investment and renovation. If you have looked at listings on Cheyenne St. on the internet, you know that most of the homes were built from the mid-1950's to the early 1970's, and the lot sizes are generally around 10,000 square feet. The homes are not large. It's generally a street of modest, affordable homes that have the obvious advantage of being close to the Intracoastal Waterway and Siesta Key. If you go a block or so to the west, you'll find larger homes near the water, and if you go over to Avenue B, Schooner Bay Circle or Anchorage St., you will see canal-front homes and condos. These are also generally larger and more expensive, but they're still reasonably-priced for homes with direct boating access.

Now that I think of it, on Cheyenne Street you've found decent modestly-priced homes that are surrounded by very nice more expensive properties. It's usually said that for investment purposes it's a good idea to buy the least expensive home in a good neighborhood, so you're on the right track here. Of course, nobody can guarantee your investment, but I think that you're wise to consider this area.

If you're not entirely familiar with Sarasota, you'll want to know a little more about the area surrounding Cheyenne St. and Bayview Acres. Because it's so close to the water, the neighborhood was developed with a mix of housing including everything from expensive waterfront homes to trailer parks. On nearby Stickney Point Road you'll see a few remaining funky motels, modest new vacation condos, and strip malls full of chain restaurants and shops that serve the tourist trade (t-shirts, swimwear, etc.). It's typical Florida funky stuff. If you're looking to live the Sarasota lifestyle at a modest price, I think you've found it here.

Now, on to Gulf Gate, which is just across Tamiami Trail to the east. Gulf Gate is generally a little newer than Bayview Acres, built in the 1960's and early 1970's. It's a typical Florida subdivision from that period, with modestly-sized ranch homes on good-sized lots. The housing style is more homogeneous than Bayview Acres, and in general they're really decent homes. I think that you'll find that the developer did a great job here, laying out the streets with gentle curves to make it more interesting (and to slow traffic). During the real estate boom in recent years, Gulf Gate was one of the hottest neighborhoods for real estate investors and quite frankly prices got over-inflated. In today's market, prices have become more reasonable again, and there are plenty of opportunities here. You'll find some nicely-updated homes, and occasional bargains as a result of foreclosures and short sales. As I said about Bayview Acres, nobody can guarantee your investment but I like this area a lot, and it's certainly worth checking out. To get an idea of the location of Gulf Gate, go to Google maps and type in "Gulf Gate Sarasota". That will help you to put things into perspective. It's a great location.

I would be happy to email you current listings, and to discuss these neighborhoods in detail. Give me a call, or send me an email.

Charles Offer
Coldwell Banker Residential Real Estate, Inc.
423 St. Armands Circle
Sarasota, FL (941) 321-9664
charlesoffer@comcast.net
Web Reference:  http://www.CharlesOffer.com
0 votes
Xena Vallone, Agent, Sarasota, FL
Thu Mar 20, 2008
Gulf Gate is a great neighborhood & very desirable for affordable homes in the Sarasota area. It is within a short distance to Siesta Key. Siesta is known for one of the most beautiful beaches in the world, but locals and tourists alike also love the charm of the village with the pubs, restaurants and shopping. It truly is a great location.

If you are looking for more information, I would be more than happy to provide that information, as will any of the Realtors below. Please keep in mind that when buying property in the US, the Realtor you choose to work with can show you any property, even if it is not their own listing.

Please feel free to email me at xena@prudentialpalmsrealty.com or call at 011-1-941-224-5950
0 votes
M, , Florida
Thu Mar 20, 2008
Leon,
This is a very good time to be looking at the Sarasota area. Prices have begun to level off a little and developers are offering some good incentives. Gulf Gate may be a very good option for you. There are others to consider. Email me at marian@marianschaffer.com and let me give you the list I would consider.
The Schaffer Realty Group
Marian Schaffer
http://www.marianschafferrealty.com
0 votes
Jim Soda, , Sarasota County, FL
Thu Mar 20, 2008
Siesta Key is a young and vibrant area. Siesta Key village offers nite-life, and having one of the most beautiful beach's in the world.. That price range will provide you with small condo living close to the action and water.
Gulf Gate offers more of a family quiet neighborhoods, yet very close to the beaches. Gulf Gate enjoys shopping areas and schools. Where are you from and will you be scheduling a trip? I'd be happy to email a selection of properties to you to review. jimsoda@prudentialpalmsrealty.com
Web Reference:  http://www.jimsoda.com
0 votes
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