Heritage Harbour (Sarasota, Bradenton, Naples: short sales, foreclosures, rental)

[Finmac]

Hi all,

New member here and can I just say what a fantastic forum. Everyone seems so helpful which prompted me to join.

Anyway, I am in Scotland and am considering a vacation home purchase in Bradenton/Sarasota. I last visited in 2008 and took a trip to view the new Lennar Manor Homes at Heritage Harbour. I loved the community set up and the homes but would really appreciate any feedback that anyone has on Lennar/Heritage Harbour.

The new home prices there seem to have dropped a little but not a huge amount over the last two years. Are builders still tripping over themselves to sell excess stock and therefore the prices listed on the website are still up for negotiation or am I better to look for a resale which may give better value?

Also, I seem entirely focused on Heritage Harbour but are there other communities of a similar standard with similar facilities?

Any comments would be greatly appreciated.

Many thanks.

[SoFLGal]

I do know that Lennar was one of the many builders named as having used Chinese drywall. I have not heard one way or another in this development if CDW has been found. Just make sure you have the home tested during your inspection period.

Generally, right now, builders can't come close to competing with the resale and foreclosure prices. Last I looked the single family homes in Heritage Harbour were running $179+. I do know that there are many short sales in there. They will probably become foreclosures in the near future. You might want to keep an eye on that situation and grab a foreclosure at a deep discount.

[Finmac]

Thanks SoFLGal. I was hoping you would be one to respond as you are so knowledgeable.

I might just wait for the right foreclosure opportunity as the Lennar price for a 4 bed/2 bath with pool is $289,000 and there seems to be such better value out there even without a foreclosure.

Regarding other communities, which ones are comparable with Heritage Harbour in terms of facilities?

Thanks again.

[mr&mrssunshine]

Finmac, it really depends what you want, what facilities you need and what you want to spend.

look a bit further south as we did and there are some REAL bargains.

sarasota is great but for a half hour drive you could be saving yourself $100k.

Incidentally there are a few obstacles for us 'aliens' which you may or may not be aware of. feel free to DM me with any questions (even though I am English !!)

[Peter the Brit]

Heritage Harbor has many problems not least of which are Chinese Drywall, noisy freeway, distance from the beach and high monthly fees
As others have said there are beter places for a vacation second home, though I would recommend you wait till the exchange rate is better for you.
Consider carefully advice to move into the cheaper areas as the phrase goes .. "you get what you pay for"
if you like Heritage Harbor look at Stoneybrook and Heritage Oaks built by the same builder better located and better value.

[mr&mrssunshine]

thats what is great about this site - the superb local advice/knowledge you get for free !

[po14015]

I suggest you listen to Peter.

I would never buy a Lennar home. Do you think they were trying to make a "quality" house? Where else do you think they cut expenses?

And Heritage Harbor is going to be "slums" soon enough. It's already working its way there.

Who do you think will be buying cheap foreclosures in there? Landlords (or more importantly slum lords)?

I have already heard some unpleasant stories from that area.

Take your time and due your research. For $289,000 you can get the place you really want in a location you want.

Good Luck.

[paradiddle]

My cousin lives in Heritage Harbour since 2005. I don't know about average price being 179k. I would say I see about low-mid 200k. I don't think it will be a slum even if the bottom falls out. I don't know about fee's but they don't golf there. If you are a beach person, yeah its pretty far from Anna Maria. You wouldn't have the same access as you would like in Venice area. I think of Heritage Harbour as Lakewood Ranch-ish. That north end of the ranch is very similar.

Are we also suggesting StoneyBrook in Venice off river rd? I wasn't that impressed with it. Why not go to Gran Paradiso - great deals there !!! (wink-wink)
Note: I thought it was pretty easy to check for Chinese drywall now on ANY house. Should be a huge problem if your looking and have a good home inspector.

[Racelady88]

I used to work for a sub contractor that worked for US Home, the now defunct division of Lennar that built Heritage Harbor. I would not take a home there if someone gave it to me free & clear. Those houses were thrown up, the quality is just not there.

None of the homes built by Us Home during the "boom" were given much care during the build. Cheapest material + cheapest labor = poor quality. Same for any of the production builders that were thriving then.

[Floridaa]

Finmac must be soo confused by all the remarks.

I think you can get a rental in Heritage Harbour,why not do that for awhile.
I don't see it being anywhere near a slum in the future.Some people make odd comments here.

Yet living close by that community,I know it is away from the madening crowd,which I persoanlly like.Yet if you are a hub bub person and also want to spend much time at the beach,then go a little more towards-
Sarasaota,Venice and Naples are very nice.
The closer you are to the beach the more taxes you will pay.

Good Luck.