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I have been searching the web for a condo in FL (want to lease it until ready to use ourselves). The search began with "anywhere in FL" and has been refined to Sarasota (mostly because I know the area) off of University (because of the prices). Basically, I want a decent 2br around $100k (a bit more if updated).
I have decided that Palm Aire, The Meadows, and Serenade (closer to the beach but not sure about this one .... have seen posts saying stay away) are the current 3 top choices. I will be down in early December but want to get others opinions on these areas. Thanks in advance.
Location: Sarasota/ Bradenton - University Pkwy area
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Serenade on Palmer Ranch was originally built as an apartment complex named Savoy on Palmer Ranch. It was converted in 2005 to condos, which were sold with the option of 100% financing. So when the market went south a couple of years later, many of the unit owners found themselves "upside down" and short sales and foreclosures followed. This also impacted the condo community's operating budgets. That happened with a number of condo communities in our area. Over the past couple of years the number of delinquent unit owners has shrunk substantially as those units were sold either thru short sales or after foreclosure as REOs. Serenade has been playing catch up on maintenance project as the revenues have increased. Over the past couple of months the exterior of the buildings were painted. They've also increased the funding of reserves, which are used for major repairs and maintenance items like roofs, roads, etc. Serenade is popular now with buyers and units priced under $100k go quickly, especially as the complex is now well maintained and on site management stays on top of things. The units rent quickly as that location (Palmer Ranch) is as popular with renters as it is with buyers. I would make one suggestion if you look at short sales or REOs - check to see if there are delinquent condo fees and if so, how much, as the Serenade association and their legal representative have gotten very hard nosed about collection of those back due fees. You can send me a direct message if you want more info on that.
The Meadows is a great community and also good for rental potential, although finding 2 bedroom units for under $100k is getting much more difficult.
Palm Aire has several condo communities that occassionally have units priced under $100k, they also tend to go quickly these days. Gardens at Palm Aire is one. Eagle Creek is another. Traditions at Palm Aire I would have hesitations about due to the recent sale of a fair sized portion of that complex (178 units per Bradenton Herald article) to another investor.
Have you considered Carolina Landings at all? It is a newer townhome community just north of University Pkwy on Honore, just west of the outlet mall.
Thank you Sunshine! I wasn't looking in Bradenton but probably should. I know the budget is small. I saw a small development in Osprey called Pine Run which looks nice so I'm keeping an eye on that as well
It seems that I'm the major cheerleader for The Meadows. The Meadows has a variety of housing styles in 2 bedrooms: villas (attached and freestanding), apt style,townhouses, also single family homes that are maintenance free. Except for the single home subdivisions, all have at least 1 community pool. There are 56 subdivisions.There are miles of biking/walking trails a fitness trail, bird sanctuary, 2 butterfly gardens and a country club with 3 golf courses( 2 semi-public), jr olympic pool and 17 har-tru tennis courts and 3 restaurants. There is also a small shopping village where there are 3 restaurants, travel agency, real estate office, rental office, bank, beauty parlor and barber and some other businesses. I know many people who rent seasonally and return yr after year. Each subdivision has its own set of HOA rules for subletting so you'd need to find out which would appeal to you. It is a well maintained community. Since you are looking at the University area, I assume you know the distance from downtown and the beaches. It's a very convenient location, especially once they open the Rowing park and mall being built by Benderson
Location: Sarasota/ Bradenton - University Pkwy area
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As I said in my original post, I think the Meadows is a great community. I love the winding streets and mature landscaping and trees. It's just getting harder to find 2 bedroom condos there for the OP's targeted price range.
There are 3 options within the Meadows that still may have condos for under $100k. Longwater Chase is one of those. Older (1970's) built community with some really nice golf course views. Condo fees are lower than some of the other Meadows complexes.
Willowgreen off of Taywood Meadows (by Honore) is another. Those units were built in the 1980's and have covered parking (carport). The monthly fees are a little higher than some of the others.
Heronmere off of Marshfield Rd is a 3rd potential option, also built in the 1970's. I know someone that has lived there for a number of years and she loves it.
The communities are all well maintained and the common grounds well kept. The only negative if you could call it that is many of the units when they do come on the market are not updated, so you will have vintage 70's or early 80's kitchens and bathrooms.
I used to live next door to the Meadows (for over 20 years) and we'd often go over there to feed the ducks. It's also a great place to ride bicycles.
The Meadows and Palm Aire both would be farther from Siesta Key beaches than Serenade/Palmer Ranch, but the 2 areas are a reasonable drive to St. Armands and Lido beach, which is where we often go when we don't drive out to Coquina/Bradenton beaches.
My parents and sister own in Tara, a great community in Bradenton. My sister just bought a foreclosure in Tara Plantation, it's a beautiful condo (ranch with vaulted ceilings, huge bedrooms, nice size lanai) for 85K. She had a 20K renovation budget and put in wood floors, re-did the kitchen, it is gorgeous….. could be an option for you.
My parents and sister own in Tara, a great community in Bradenton. My sister just bought a foreclosure in Tara Plantation, it's a beautiful condo (ranch with vaulted ceilings, huge bedrooms, nice size lanai) for 85K. She had a 20K renovation budget and put in wood floors, re-did the kitchen, it is gorgeous….. could be an option for you.
FraserPie
I realize this is your first post and you can't start a new thread, but what on earth made you pick this particular 2 year old thread over all the other threads here you could post to?
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