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This looks like an excellent resource for information to help us get information before we buy a place.
My husband and I are both retiring at 65 years of ageJuly 31 from our public school jobs (Teachers for 36 and 40 years . We have visited Sarasota many times over the years and love it there.
We are interested in a maintenance free gated community. We have seen some posts about Turtle Rock and Village Walk being desirable.
We will have to choose a real estate agent to work with when we come down on August 3.
I do have a few questions. Are there any other areas besides Turtle Rock and Village Walk we should consider? Have prices bottomed out or have they already climbed in the area? What percentage (ballpark) are places in these two areas off their peak prices?
Any other information people can offer us is sincerely appreciated.
This looks like an excellent resource for information to help us get information before we buy a place.
My husband and I are both retiring at 65 years of ageJuly 31 from our public school jobs (Teachers for 36 and 40 years . We have visited Sarasota many times over the years and love it there.
We are interested in a maintenance free gated community. We have seen some posts about Turtle Rock and Village Walk being desirable.
We will have to choose a real estate agent to work with when we come down on August 3.
I do have a few questions. Are there any other areas besides Turtle Rock and Village Walk we should consider? Have prices bottomed out or have they already climbed in the area? What percentage (ballpark) are places in these two areas off their peak prices?
Any other information people can offer us is sincerely appreciated.
Thank you Dorothy
Dorothy,
I invest / buy / sell property on a steady basis, more to keep myself occupied than anything - I guess.
You will have plenty of areas to look at and options to choose from. A good agent will be able to narrow your search quickly and help you find just the right place.
As for prices, the news is mixed if we are at or near the bottom yet. I think that the Sarasota Area is better than many areas of the country, and even better than most areas in SWFL. It is a county that has continually bucked the trend, but not escaped the foreclosure crisis by any means. I feel that there is a fairly significant lull in the market right now. Prepare your finances - lending will be getting tougher - if you need to borrow. My prediction - for what its worth - is that prices will rise through the fall - supply is dwindling for a number of reasons ((in this county)), but that will change next winter (possibly late fall, more likely early spring) and the foreclosure - house dumping from the banks will begin again. They have been forced to hold many, and get their paperwork in better order, and have been refrained in their dumping procedures (of the past). They are working to comply with the new procedures, and when that is accomplished they will begin back-filling the pipe line of supply, which will mean house prices will begin to dip again. Sarasota has been selling homes at a great pace for the past few years, and a lot of back-log has been bought up - that isn't the same picture for many other areas here in SWFL. So, in Sarasota Co, the picture of "are we at the bottom" or not is more difficult to say. None of us really have a clear handle on how many more houses will come to market.
The government, banks, and financial institutions that made this mess, still don't have a handle on it themselves, OR more likely - they aren't forecasting the true numbers. They just keep the news very cloudy and murky.
In your case you will find a great deal, and come to an area you'll enjoy! Welcome to the board!
You need to get that agent immediately, and REALLY tour some places. While Turtle Rock and Village Walk both have solid feedback and are attractive options, they are half a mile from each other. Sarasota has an awful lot of areas and so many options for gated communities that I think you need to put in the time driving the areas with a professional.
It's nice to see someone looking for something here that DEFINITELY exists. I would feel like a kid in a candy store.
In the past 15 months, it seems the market has been relatively stable, price-wise, at least. Personally, I wouldn't put off moving to the area for a year or more waiting to see what the market does. In the long haul, it'll be a solid investment.
I appreciate the excellent replies. I would appreciate hearing a few suggestions of other gated communities.
We don't want to end up in a unstable area and have HOA dees/assessments go up and ruin our budget.
Thanks again Dorothy
No matter what anyone says here, you will need an agent you trust, so I would start there. If you know you really want to move here (I recommend it), then book at least a 3-day trip to get the ball rolling, hunt-wise.
See Swflgal's posts and blog posts for a LOT of info on neighborhoods and communities. I assume you'll start by weighing Palmer Ranch and Lakewood Ranch, but there's a lot more to be done.
I recommend finding a good buyers agent; however, you should also familiarize yourself with the concept of caveat emptor. It is wise to do your research before you buy, because I have seen so many people overpay for a piece of real estate even with a buyers agent on the team. The idea of real estate as an investment should be a thing of the past. It is a home, first and foremost, and the key is finding a property that meets your needs. Step one: know you needs. :-) Home values are still falling, albeit at a much slower pace. Best estimates are a few more years of this down cycle and then a leveling of values for a decade or so. If you are looking to move within 10 years of buying in Florida, then renting is a fantastic option... and negotiate the price. Too many local professionals with too much skin in the game will attempt to talk-up the market with the intent of re-inflating the bubble. The problem is that the data does not support this understanding. Sarasota/Manatee is a nice area with a lot of good people; it is an excellent place to relocate. Best Wishes!
I think I can answer some of your questions. You asked about prices in the peak times in Turtle Rock and Village Walk. First I'll start out by saying that Palmer Ranch communities are very popular. You won't see tons for foreclosures in those areas like you might in some other communities.
One of the "boom years" was 2006. So, if we look at sales from Jan, 2006-Jan, 2007 in Turtle Rock we see that there were 24 sales. The median list price was $549,450 and the median sales price was $522,500. Now if we take the last year June, 2010-June 2011 in Turtle Rock there have been 36 sales. The median list price is $344,450 and the median sales is $326,250.
If we use the same time period of 06-07 and look at Village Walk we can see that there were 54 sales. The median list was $399k and the median sales was $380k. Using June 2010-June, 2011 again we have 33 sales. The median list is $269,900 and the median sales is $260k.
As you can see there generally isn't a whole lot of difference in the list and sales price in these areas.
Palmer Ranch one of Sarasota's most popular and largest master planned communities with over 10,000 acres. Palmer Ranch actually consists of many neighborhoods, all individually operated under their own HOA. The common areas of Palmer Ranch are maintained by a master association. The overall look and feel of PR is "green" - the roads are grass and treelined, the sidewalks wind throughout the entire community, and they have recently been able to add the Legacy Trail to the many great aspects. The Legacy Trail is a paved walking/biking trail that runs through the woods along the path of the old railroad track.
Palmer Ranch is districted for great schools, is only 10-15 minutes to the beach, and is next door to the mall, new 12-screen movie theater and a fantastic YMCA complex, including a huge waterpark. Palmer Ranch is very popular with families.
If you're looking at gated/maintenance free in the Sarasota area then here are a few communities that may appeal to you:
Cascades at Sarasota
Laurel Oak Estates
Prestancia
Tatum Ridge
Willow Brook
Beekman Estates
Deer Creek
Heritage Oaks Golf & Country Club
Lakeridge Falls
Mira Lago
Palm Lakes
Parkstone
Rosedale
Silver Oak
Stoneybrook Golf & Country Club
University Park
Villa Rosa
I could narrow it down even more with price, age, more specific location, etc.
The best website to use for searching is www.myfloridahomesmls.com It's the most up to date of any website. Then once you find a home/community that interests you you can do more research on Trulia, Zillow or other 3rd party website.
Location: Sarasota/ Bradenton - University Pkwy area
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Hi Dorothy,
Big House has given you a pretty good assessment of our local real estate market in general.
As to gated communities, there are a lot of options in both Sarasota and southern Manatee county. I can give you a general over view of some of the more popular options. Prices can range from around $100,000 for a condo to well over $500,000 if you want an upscale, country club community. Instead of printing a long list of every gated community in our area, it would be helpful to get some more information from you as to what you are looking for, then give you a shorter list of communities that best fit your criteria.
For example, what amenities you are looking for in a community? Do you wish to live in a golfing community? Do you want a community pool? Clubhouse? Tennis courts? Fitness center? Do you prefer newer construction or would a slightly older, more established community work best for you? Do you prefer a 1 story residence or 2 story (townhomes or carriage homes are 2 story)?
Most of the neighborhoods in Palmer Ranch are gated. Arielle has coach homes (2 story), Marabella has villas, Mira Lago has homes & villas that are maintenance free, Palmer Square has coach homes, Pinestone has condos (lower & upper units, so upper units have stairs to climb), Stoneybrook (very popular) has villas & condos, The Isles has villas & condos (new construction), Village Walk has villas, town homes & single family homes. There are also some condo communities that were originally apartments & converted to condos during the real estate boom years - these include Bella Villino, Serenade and Vintage Grand. Units there sell for slightly lower to slightly higher than $100,000.
University Pkwy area has quite a few options for gated communities too. Mandalay is single family homes from the upper $200's to lower $300's. Cascades & Lakeridge Falls are both newer, popular 55+ communities with prices in the $200's range. If you're looking for something priced in the low to mid $100's range, options in this area include Carolina Landings, Las Palmas & Park Ridge. Harborage on Braden River is a boating community off of SR70 with prices starting in the upper $100's range. Slightly older, built in the 1980's but with beautiful oak trees is Garden Lakes, a 55+ community that offers villas and free standing villas (homes). It has meandering walking trails and a clubhouse with pool & tennis courts.
Heritage Harbour offers several options for villas and townhomes, including Stoneybrook at Heritage Harbour and the newest neighborhood in the community, River Strand.
Lakewood Ranch is a master planned community just east of I75, in Manatee county. It is a beautiful, well landscaped and maintained community with residential neighborhoods, both gated and not gated, shopping centers, a large recreational center, a hospital and business centers plus several golf courses (some private). Popular gated communities include lower end price ranged Greenbrook Walk & Summerfield Hollow, more luxerious townhomes at Miramar in the Country Club, Lake Vista & The Moorings in Edgewater (a lake community), or the newest community - Central Park. Brickell Park in Central Park is maintenance free. Central Park is geared more towards families with play areas, ball parks, dog parks and walking paths.
As I was saying, there are lots of options for you in our area, depending on your targated price range and amenities you desire.
Now is a great time to be looking, as sales are typically slower in the summer months and pick up as we head into winter when the "snow birds" flock to Florida for sunny, warm weather.
My best suggestion to you would be to do as much research as you can now to narrow down your list of targeted neighborhoods to a managable number. Then, when you visit, take several days and spend quality time visiting those neighborhoods. Don't let your agent rush you in and out. Spend some time checking out the clubhouses and amenities, talk to residents, ask for and read the minutes of the last 2 or 3 board meetings if the neighborhood interests you (that can be a real eye opener in some cases). The more knowledge you gather, the better, more informed decision you can make and in the long run, the happier I think you will be with the choice you make.
We appreciate the replies we have received so far. We are not interested in a golfing community if there are additional charges for non golfing households. We would like to pay $350,000 plus or minus a little. We want an individual house but would look at a duplex. We want the master bedroom on the main floor.
Does anyone know of a good site if we at some point want to look at by owner homes?
Looking at your price range and what your looking for and not looking for I can narrow the list down a little more.
I think you're right on track looking into Turtle Rock and Village Walk. If you're willing to go a little farther south I think there are a few other communities that would fit your needs quite nicely as well.
Belliago on the Island of Venice is within biking distance to the beach and the downtown area, it's gated, maintenance free, has a tennis court, clubhouse, fitness room, and heated community pool.
Island Walk at the West Villages is an 830 acre gated, lakefront community. It has a heated lagoon pool, state of the art fitness center, 8 har tru tennis courts, bocce courts and neighborhoods walking paths. It's located on the North Port/Venice boarder.
Willow Chase is a gated, maintenance free community in Nokomis. It has a clubhouse, heated pool and fitness center and is about 5 minutes from the beach.
Many of the other communities would be eliminated due to golfing requirements, price or other criteria.
As far as FSBO websites, you might want to try:
forsalebyowner.com
owners.com
FSBO.com
byowner.com
craigslist.org
I'm sure there's other but these come to mind.
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. We have visited Sarasota many times over the years and love it there.
