Stoneybrook in Palmer Ranch (Boca Raton, Sarasota: real estate, renters, HOA)

[sgeiger1]

Hello - we are looking to purchase a 2nd residence (condo or townhome) in the Sarasota ish area. Palmer Ranch was recommended and we are looking in the $250K max range. 2/2 with water view. Stoneybrook looks promising from the internet (we are going to visit 2/29) but are confused about the golf membership. We are not golfers but can’t figure out if we have to purchase a membership. There’s also a social membership but that looks to be about $3000 a year. Realtor.com doesn’t list anything about a membership as a 2nd HOA fee but stoneybrook.net (https://www.stoneybrook.net/Default....d=100121&vnf=1) indicates membership dues for all members and residents must be members. Also where is arbor greens which is only area for social memberships.


I should mention we plan on renting for about 5 years until I retire then spend more 3 or more months at the condo.

I would also be interested in any other info - good or bad - about Stoneybrook or other areas that we might look. Thank you.

[beach43ofus]

I lived < 1mile from Stoneybrook for 1.5 years. GREAT location...I miss it.

I've only been inside the community 3 times, and it looked nice. I tried to rent a condo there for 3 months, but it fell through because it was furnished & I needed unfurnished. The allow 3 month rentals in there, which is bad for condo owners IMHO. Great for snowbirds though. I'd ask a lot of ?'s about this. Can renters have large dogs? What background checks are done on these renters? When I rented nearby, I had a FBI ck, MVR driving record ck, credit ratings ck, and had to provide 2 personal referrals.

If they force you to join the golf club, I'd pass. Go to a real estate web site and look at what condo's in Boca West are selling for today. Boca West is a golf community in Boca Raton Florida that requires golf membership. The cost of the golf membership, and other fees, have escalated to the point where condo owners cannot sell. There were condo's there that sold back in the late 1970's for $125,000 that are listed today for $7,000! All due to fee escalation and mandatory golf membership. Condo owners there are almost giving their condo's away just to get out from under the mandatory fees.

Granted, that's an extreme case, but it can happen to a lesser extent, and still wind up costing you a lot of money & stress.

Also, golf is declining in popularity. Less golfers means less revenue into the golf club, but their overhead costs remain the same. Thus, each member must pay more to cover the overheads. What if the golf course needs new greens? Irrigation system? New roof for the clubhouse? You'll likely get an assessment. Ask about these things and assessment hiistory. I'd want to see the P&L for the club, and see if its makingmoney, or losing money, and what the 10 year trend is for revenue, # of members, rounds of golf.

If you would have ZERO financial exposure to the golf club in Stoneybrook, and you like it otherwise, go for it. If they bind you financially (in any way) to the golf course, I'd find another place. Use the real estate web sites, or find a local realtor here on city-data to assist you. There are some really knowlegeable & experienced ones who post here.

[Rosa Robin]

Also on Palmer Ranch, no golf, my personal favorite.
Villagewalkofsarasota.org
$250k is doable for a townhome!

[Sunshine Rules]

Originally Posted by sgeiger1

Hello - we are looking to purchase a 2nd residence (condo or townhome) in the Sarasota ish area. Palmer Ranch was recommended and we are looking in the $250K max range. 2/2 with water view. Stoneybrook looks promising from the internet (we are going to visit 2/29) but are confused about the golf membership. We are not golfers but can’t figure out if we have to purchase a membership. There’s also a social membership but that looks to be about $3000 a year. Realtor.com doesn’t list anything about a membership as a 2nd HOA fee but stoneybrook.net (https://www.stoneybrook.net/Default....d=100121&vnf=1) indicates membership dues for all members and residents must be members. Also where is arbor greens which is only area for social memberships.


I should mention we plan on renting for about 5 years until I retire then spend more 3 or more months at the condo.

I would also be interested in any other info - good or bad - about Stoneybrook or other areas that we might look. Thank you.

This is taken directly from their website regarding fees:

Dues 2019-2020
(Golf Membership & Social Membership on a Fiscal Year June 1st-May 31st)

These are Mandatory dues for all members!

One Time Resale Capital Contribution (For all new Owners) $3,000.00 one time

Golf Membership (Plus $23.00 -$25.00 Cart Fee per person) $4,549.00 per year
Beginning June 1, 2019 $4,655.00 per year

Social Membership $3,061.00 per year
Beginning June 1, 2019 $3,167.00 per year

Restaurant Minimum (May 1st thru April 30th) $ 600.00 per year

Other Association Fees

Palmer Ranch Association (Calendar Year) invoiced by Stoneybrook
$167.00 per year

[beach43ofus]

If you are not an avid golfer, find another place. These fees are a killer.

[craigiri]

Although this often goes unsaid, most "water views" here...elsewhere would be called "Retention pond view". To build in Florida usually means scooping out land and building up the lots to a higher elevation....and with the groundwater so high (swamp, etc.) anything dug out fill up.

Just FYI...probably obvious but just in case it isn't. This differs greatly from "true" water view which might be along the big inlets, creeks, Myakka River, Bay and Gulf.

I do like the Palmer Ranch Area although we live closer to downtown. I tend to be in and out of that area quite a bit with volunteer work and the bike path (another neat advantage).

Also obvious - but check out the ability to rent and stuff like that...both in a legal fashion and supply/demand.

[sgeiger1]

Craigiri - yes, Florida's water views are very different than NYS.
Thanks you Sunshine Rules ! I saw that too, but with nothing on realtor.com I was hoping the website was incorrect.

[sgeiger1]

Rosa Robin - I will look at village walk. I am wondering what kind of traffic noise there is from 75.

[beach43ofus]

Originally Posted by sgeiger1

Rosa Robin - I will look at village walk. I am wondering what kind of traffic noise there is from 75.

There is traffic noise from I-75, we looked in there. There's also high power towers/lines running across the property. I'd avoid the East side of Honore, and even on the West side of Honore, try to get near the rear of the property nearest the Legacy Trail.

[Rosa Robin]

Originally Posted by sgeiger1

Rosa Robin - I will look at village walk. I am wondering what kind of traffic noise there is from 75.

The I75 noise cannot be heard from inside the homes. Outside depends on the wind, sometimes it’s so quiet you can hear nothing, other times it is very loud. Personally, that noise doesn’t bother me.