Just bought in Sarasota. Helpful hints. (Tamiami, Venice: real estate, rental homes, insurance)

[mavfan1]

Hi all. I am coming down next weekend to look for housing with my gf. I recently received and accepted an offer in Sarasota and are looking at homes. We are 32 and 24 respectively and are looking for a single family home. I have read lots of negative things about Bradenton so what are good areas to look?

Additionally, what is the rule of thumb now regarding listing prices? Meaning, what is a reasonable first offer based on the list price - 15-20% lower?

Last question: is there any benefit for tax and homeowners insurance between living in Sarasota vs. Manatee counties?

What is a typical policy cost?

Thanks!!

[Carbondated]

Originally Posted by mavfan1

Hi all. I am coming down next weekend to look for housing with my gf. I recently received and accepted an offer in Sarasota and are looking at homes. We are 32 and 24 respectively and are looking for a single family home. I have read lots of negative things about Bradenton so what are good areas to look?

Additionally, what is the rule of thumb now regarding listing prices? Meaning, what is a reasonable first offer based on the list price - 15-20% lower?

Last question: is there any benefit for tax and homeowners insurance between living in Sarasota vs. Manatee counties?

What is a typical policy cost?

Thanks!!

There are many people on these boards that are more familiar with the neighborhoods of Manatee County.

However, I can tell you that recent homes in the Sarasota/Bradenton area have sold at around 10% less than asking price. In regards as to what your opening bid should be, that is really up to you. I would recommend looking up the just market value of the homes that you are interested in first.

Here's the link to the Manatee County Property Appraisers website:

Manatee County
Scroll to the bottom of the page and hit Search for Property Records
Search by Address at top of page
Hit Values on the left side and it will give you Just Market Values as well as Millage.

Some people are listing their homes double the JMV (overpriced) and some are at or below the JMV (a more reasonable asking price).

It is really important in this market to do some homework on your own without the influence of the sellers or realtors.

Manatee County is generally (taxes, etc.) a less expensive county than Sarasota.

[mavfan1]

Originally Posted by Carbondated

There are many people on these boards that are more familiar with the neighborhoods of Manatee County.

However, I can tell you that recent homes in the Sarasota/Bradenton area have sold at around 10% less than asking price. In regards as to what your opening bid should be, that is really up to you. I would recommend looking up the just market value of the homes that you are interested in first.

Here's the link to the Manatee County Property Appraisers website:

Manatee County
Scroll to the bottom of the page and hit Search for Property Records
Search by Address at top of page
Hit Values on the left side and it will give you Just Market Values as well as Millage.

Some people are listing their homes double the JMV (overpriced) and some are at or below the JMV (a more reasonable asking price).

It is really important in this market to do some homework on your own without the influence of the sellers or realtors.

Manatee County is generally (taxes, etc.) a less expensive county than Sarasota.

great. thanks for the info

[Ladywithafan]

Originally Posted by mavfan1

Hi all. I am coming down next weekend to look for housing with my gf. I recently received and accepted an offer in Sarasota and are looking at homes. We are 32 and 24 respectively and are looking for a single family home. I have read lots of negative things about Bradenton so what are good areas to look?

Bradenton has developed a crime wave in the last few years that rivals NYC...it's spread from in town to the North/Northwest suburbs, and has now mastered the art of crossing the bridges to Anna Maria Island...many people think this is an imagined and/or inaccurate picture however, it's not. A drive down U.S. 41 north of the SRQ/Bradenton Airport looks somewhat like a battle zone.



Additionally, what is the rule of thumb now regarding listing prices? Meaning, what is a reasonable first offer based on the list price - 15-20% lower?
These days, any offer seems to be in the reasonable range.

Last question: is there any benefit for tax and homeowners insurance between living in Sarasota vs. Manatee counties?
There is no benefit regarding homeowners insurance between the two counties.

What is a typical policy cost?
There is no "typical" cost...it's all about location/proximity to the water and whether or not you're in a flood plain.

Thanks!!

Your best bet would be to come and rent first.

[gypsychic]

Despite lower prices these days in both counties, be prepared for some real sticker shock over the taxes and insurance! I was just checking on policies today - if you are ANYWHERE near the water at all, if it's an older home you are looking at Citizen's insurance as you only choice and it is around $2,000 or more for just a TINY 1200 sq. ft. house - add a minimum of $1200 for mandatory flood! And taxes on a tiny home like this are sky high as well (almost $4,000 for the little house I was considering!) Absolutely ridiculous.

We were thinking about investing in a small home there since prices dropped but now rethinking. I just don't think those costs justify it personally

[MrTudo]

Originally Posted by gypsychic

I just don't think those costs justify it personally

Neither do we. What a mess that's apparently here to stay too.

[mavfan1]

we are going to look in the parrish area when we come down this weekend. the new home builders are giving away CRAZY incentives - i.e. up to 40k off of inventory homes. if i rent, i will lose the relocation incentive my company is paying so we need to find a house.

thanks for all your help

btw, as far as the drive down 41, that is the way i came in as i went to my hotel next to the airport. it, literally, was worse than things i had scene in new orleans. when my realtor sent me listings for that town i couldn't believe it. no thanks!!

[smiledoc1]

Originally Posted by mavfan1

Hi all. I am coming down next weekend to look for housing with my gf. I recently received and accepted an offer in Sarasota and are looking at homes. We are 32 and 24 respectively and are looking for a single family home. I have read lots of negative things about Bradenton so what are good areas to look?

Additionally, what is the rule of thumb now regarding listing prices? Meaning, what is a reasonable first offer based on the list price - 15-20% lower?

Last question: is there any benefit for tax and homeowners insurance between living in Sarasota vs. Manatee counties?

What is a typical policy cost?

Thanks!!

I can't speak for Bradenton, but we bought a couple of months ago in the Palmer Ranch area of Sarasota. I would have no hesitation about offering 20% less than the asking price. Buyers are in the driver's seat.
As LWAF said, the closer to the water the more the insurance will be. Relative to what we are paying here in central MA, I don't think the insurance prices were that much more.
Check out my post at the beginning of this thread.

[lrodptl]

Originally Posted by smiledoc1

I can't speak for Bradenton, but we bought a couple of months ago in the Palmer Ranch area of Sarasota. I would have no hesitation about offering 20% less than the asking price. Buyers are in the driver's seat.
As LWAF said, the closer to the water the more the insurance will be. Relative to what we are paying here in central MA, I don't think the insurance prices were that much more.
Check out my post at the beginning of this thread.

Just came home to Ma. from Sarasota and spent a couple of days viewing with Bryan. We've narrowed it down to Palmer Ranch (Pinestone or Plaza de Flores). He really eliminated all the crap beforehand. There are only 25 units out of 300+ for sale. We got the entire sales history of the developments and 3-5% below asking is what's expected here unless there's something unseen. Thanks for the referral,he's exactly what we were hoping for.

[mavfan1]

thanks guys