Want to view homes in Sarasota/Bradenton - what should I do

[Sunshine Rules]

Originally Posted by newmexicotrader

I decided to rethink my decision to rent. Might as well own and not throw away my money. How do you all like the Bayshore Gardens area of Bradenton?? What about Cortez area?? How about around the DeSoto park area?? I need a place under $100,000.00 that is not riddled with CRime!! I have two dogs. I would like a three bedroom, but if the home is right, I would take a two bedroom. Nothing fancy but nothing trash. Does this fit anything you all know of in these areas?? I see home's on the internet and wonder what the area is REALLY like. It all looks good on pictures. My son is a builder and will come with me to check out properties. Whats the REAL story about all the forclosed homes one see's on the internet? Thank you all!!!

Some parts of Bayshore Gardens are better than others. My nephew and his family have lived there for years and wouldn't dream of moving, but there have been problems in the recent past in some sections of that neighborhood where there are a significant number of rental properties.

NW Bradenton, closer to Cortez, you might find something in the Cape Vista neighborhood (34209 zip code) in your price range with 3 bedrooms. Other options might be Casa del Sol (34205), Bay Way Park (34209), Century Estates (34209), Golf Club Gardens (34209), Country Club Heights (34205), perhaps Village Green but probably only a 2 bedroom there in your price range. Right now the inventory of 2 and 3 bedroom homes in your price range is extremely low, so when new listings come on the market you have to act quickly and expect to see multiple offers if the property is in move in condition.


Foreclosed homes can be a bargain or a money pit, you really need to be careful and do your homework when purchasing a REO as the contract addendums buyers must sign basically release the bank/seller from all liability regarding the property condition. Sometimes utilities are on so the buyer can do a full home inspection, sometimes they are not. Sometimes the AC does not work or has been stripped of the copper parts by thieves. Sometimes former homeowners take out their anger about the foreclosure on the property, putting holes in walls, breaking or removing fixtures, destroying carpet, etc. Some banks are seeing the value of doing minor repairs, replacing appliances, new paint and carpet before putting REO properties on the market to achieve higher sales prices. Aging roofs seems to be a frequent problem, as former owners neglect major repairs when they are upside down on the value of these homes. Frequently the homes can set for months or even years without utilities on, so mold and mildew can be a factor. Then there's the title work. Banks prefer to give an insurable title, as a home buyer your best option is a marketable title.


Before home shopping in our area, I would suggest getting either a proof of funds letter from your financial institution if you will be paying cash for your purchase or, if you will be doing a mortgage, get pre-approved (not pre-qualified) through the lender of your choice so that you have a pre-approval letter to submit with any offers you make. Most sellers, and definitely all bank owned and short sale listings, will require either a proof of funds or pre-approval letter be submitted for your offer to be considered. Most will want to see a letter that is less than 60 days old, some want a letter less than 30 days old. If time is a factor for you, you may wish to stay away from short sales as they typically take at least 3 months to close and frequently longer, depending on the number of lien holders and other factors.


While home buying in your price range is becoming more of a challenge, there are still opportunities for the buyer who has their financing in order and is ready to move quickly when the right home comes on the market. Good luck with your move.