Sarasota Area Sale/Rents Unaffordable (Bradenton, Tice: short sales, foreclosure, renters)

[jay2007]

As far as "toney" sarasota goes, have you seen all the vacancies and foreclosures in sarasota? Deluded buyers are going bankrupt in droves in "pricey" sarasota, Trulia.com had over 850 foreclosures in sarasota county last week, some of the foreclosures were condos above banks where irrational lenders lived who were fired from thier jobs for underwriting so many bad loans now in foreclosure.
It was these deluded irrationally enthusiastic buyers that overpaid that caused property taxes to inflate unrealistically for decent homeowners.
So now in sarasota THOUSANDS of properties are in foreclosure. go to TRULIA.COM and look at the HUGE AMOUNT of sarasota foreclosures, more and MORE are going into foreclosure every week.
The enrot bankers robbed all the people in sarasota and drove the home prices to enrot broken bubble rubble. LOOK AT TRULIA.COM search foreclosures sarasota, NO ONE IS BUYING.
No rich europeans will rescue sarasota gouger market, europeans now a days come from russia and poland and UNDERPAY and live 6 people, 2-3 generations to a one-two bedroom, if they buy a 3-4 bedroom, all thier cousins move in, its thier culture.
Rich NY'ers are a MYTH,they can not even sell thier places in NYC or NJ these days due to enrot inflated prices and taxes.
Retirees who live on low SSA retirement incomes will not buy sarasota enrot priced homes. Richer retirees have thier money in thier homes and they can not sell thier homes and they would not even consider buying an enrot inflated home in sarasota or anywhere else. Families who work in sarasota can not pay the ENROT inflated prices taxes ins and HOA etc fees in sarasota.
So sarasota like many other counties nationwide is in foreclosure.
Being toney and pricey attracts all the deluded irrationally enthusiastic buyers that all just went are are going into foreclosure.
Sarasota prices will return to pre ENROT prices and people will buy again when taxes and hoa and lot rent fees go down in accord with price.
Untill then watch the THOUSANDS UPON THOUSANDS of foreclosures just sit vacant in sarasota, it will be a ghost town for awhile like trumps ghetto atlantic city became.
Hopefully a sane mayor will lower taxes and encourage rent control and housing price control. Current mayor and county politicos spend thier time and property tax dollar forcing restaurant goers to eat with dogs, Dogs allowed in restaurants - yuck. The pricey dinners being CONTAMINATED with airborn dog tapeworm eggs, which cause DEADLY infections in humans btw, dog feces, dog fleas, dog mange, dog dander with infectious dog mites flying all over your food in restaurants. Loopey in sarasota.
Someone is paying too much attention to the drug trade comming in the harbor and not enough attention to the public health and well being.

[Pink flamingo]

Somebody is loopey alright! "Airborn dog tapeworm eggs" in the food, oh my, this is serious BS.

[gypsychic]

Originally Posted by Pink flamingo

Somebody is loopey alright! "Airborn dog tapeworm eggs" in the food, oh my, this is serious BS.

LOL! Ya think?

[Carbondated]

Pink Flamingo - All you got out of that statement was something about tapeworm eggs? LOL

There are some serious points that jay2007 has brought up (albeit a bit wordy and puzzling). They are as follows:

Current over-inflated market prices for homes and rentals.
Homeowners who can't sell that turn into slum lords.
Low pay.
The enormous amounts of foreclosures and abandoned houses in Sarasota.
No bailout by "rich" Europeans.
Increasing number of homes that are being shared by multiple families or extended families.
And Sarasota officials that are more interested in debating pet accessible restaurant dining then promoting decent employment opportunities and housing.

[gypsychic]

Originally Posted by Carbondated

Pink Flamingo - All you got out of that statement was something about tapeworm eggs? LOL

There are some serious points that jay2007 has brought up (albeit a bit wordy and puzzling). They are as follows:

Current over-inflated market prices for homes and rentals.
Homeowners who can't sell that turn into slum lords.
Low pay.
The enormous amounts of foreclosures and abandoned houses in Sarasota.
No bailout by "rich" Europeans.
Increasing number of homes that are being shared by multiple families or extended families.
And Sarasota officials that are more interested in debating pet accessible restaurant dining then promoting decent employment opportunities and housing.

Carbondated - which areas of Sarasota would you say were/are the hardest hit as far as foreclosures and abandoned houses? Also, do you have any idea of the actual numbers of short sales and foreclosures in the area? My in-laws always vacation in the area and they can't believe the number of for sale signs there. I'm asking these questions so I can keep them informed - they often talk about getting a little vacation place, but I wouldn't want them to make a mistake.

[TKramar]

Rents over $1000, or sales over $100K are much too expensive.

[Ladywithafan]

Originally Posted by TKramar

Rents over $1000, or sales over $100K are much too expensive.

You're confusing me....it's an issue of supply and demand...or, if you build it in the right area, it will be easy to sell or rent...i.e. location, location, location...

If you're a "city" person, you will gravitate to downtown SRQ and know how to find the right place at rent below $1,000....if you're into planned developments, you'll find what you're looking for as well...

You can't even get a crack house for under $100K....it is what it is...SRQ is no more unaffordable than Bradenton...get real...

This discussion reminds me of how people shop, some know how to find a bargain at Saks while another one couldn't find a bargain if it was looking them in the face.......and you know, I just saved a whole bunch of money on my car insurance

[jay2007]

Obviously you are not an entomologist and do not understand zoonotic transmission.
Enjoy.

[Ladywithafan]

Originally Posted by jay2007

Obviously you are not an entomologist and do not understand zoonotic transmission.
Enjoy.

No, not, my xhusband was an anesthesiologist, I think I had second hand volitile agent gasses passed on to me from his scrubs....it could explain my humour...or maybe I got dosed at Jerry's last show in Tampa and it never wore off.

[Carbondated]

Originally Posted by gypsychic

Carbondated - which areas of Sarasota would you say were/are the hardest hit as far as foreclosures and abandoned houses? Also, do you have any idea of the actual numbers of short sales and foreclosures in the area? My in-laws always vacation in the area and they can't believe the number of for sale signs there. I'm asking these questions so I can keep them informed - they often talk about getting a little vacation place, but I wouldn't want them to make a mistake.

From what I have seen, the areas most impacted by the housing debacle are older established neighborhoods like Arlington Park in Sarasota, Venice Gardens and South Venice in Venice, neighborhoods around Dearborn St. in Englewood and entire sections of North Port.

Investors came into these older neighborhoods, where 6 years ago you could buy a lovely home for 100k off an old person going into a nursing home. Flippers bought in these areas in bulk, because upfront cost were very little and most homes were well maintained and not in need of repairs.

Low and behold, the bubble bursts and these neighborhoods have abandoned homes and the ever popular rentals. The quality of life for the people who live in these neighborhoods are diminishing. Abandoned houses are like a beacon for crime and having all those rentals in those communities leads to drug crimes (meth labs and grow houses) and more criminal activities.

I don't have the actual numbers for foreclosures in Sarasota, but that must be of public record somewhere. Perhaps a real estate agent can provide that information.

A suggestion to your in-laws, don't buy just yet. The quality of many neighborhoods in Sarasota County are in transition. If they do want to buy now...Buy In A Brand New Gated Community.