Home Purchases Move Toward 12-Month Residents

Sarasota real estate turns its attention toward full time residents each summer.  Though some part-timers will still come down to make a property purchase, from end of May through to end of September, a significant proportion of real estate transactions will be for local residents and families.  

On average, those purchases will be between $300,000 and $500,000 for properties built between 1995 and today.  

The market in that price range has not seen dramatic slippage in the past two years. Currently of the 28 pending properties in that price range, only eight are short sales and none are REOs. In fact, there is not a single foreclosed property available at this time in that price range and only five are short sales in the 59 active listings.

Some very nice opportunities exist for a savvy buyer, looking for a well-maintained deed restricted neighborhood with newer builds.

First, in Palm Isles, a discreet neighborhood tucked away southwest of the intersection of Proctor and Honore, is a remarkable property. With three bedrooms, each having its own en-suite, the property layout allows for "family" and "formal" areas. This property is particularly unique because the two-car garage is accessed via driving through a portico, making a refreshing change from a two or three-car garage fronting the house.  The third garage which is detached from the main structure is currently used as a work-out space. Surrounding the pool area in the back is landscaping and a small lawn, providing for privacy from the neighbors. The property also benefits from lower insurance rates due to complete hurricane protection up to 2000 codes.

Next, east of I-75, off the Bee Ridge extension, is the Misty Creek country club neighborhood. The home on Eagle Preserve Way has a special golf car entry to the garage and also features three bedrooms, three bathrooms, plus a den / study and pool.  Misty Creek is very suitable for those who enjoy a country club lifestyle set in a preserve, complete with nesting bald eagles.

Again, with a rural and private feeling, backing up to 40 acres of County owned forest, is a 1995, three bedroom two bath home on Eagle Nest Court. Built in 1995, it is a similar size to the property in Palm Isles but only has a 2 car garage.  In balancing out similarities, this property does have a heated spa as well as a pool.

With lake views in the neighborhood of Secluded Oaks is a newer build (2003) with again three bedrooms, three full baths and three car garage. A quality to consider with this property is that it has a salt water swimming pool and a deep well for lawn irrigation.

Finally, in Three Oaks is a Florida landscaped four bedroom, three full bath property with a heated pool. The listing information mentions by name several important appliance manufacturers: Wolf, Fisher Paykel and Dacor. This property also has security cameras on site and is a true four bedroom house with separate office.

Each of these current listings are in deed restricted neighborhoods with annual dues from $300 to $1030, depending on the amenities of the neighborhood. All the neighborhoods are convenient to shopping, the interstate and the beautiful beaches.