Relocating to Sarasota Need some advice. (University, Siesta Key: apartment, foreclosure, rentals)

[bthorny]

I've recent had a job offer come through on a job where I'll be working in Lakewood Ranch. I like that area it seems nice but I would really like to be closer to the beach. I really liked Siesta after spending a month there back in August...not sure about the commute everyday though...I've also thought possibly about an apartment downtown.

[kbuild]

SO FL GAL could pull up some info. She is very helpful.

[Ladywithafan]

Originally Posted by bthorny

I've recent had a job offer come through on a job where I'll be working in Lakewood Ranch. I like that area it seems nice but I would really like to be closer to the beach. I really liked Siesta after spending a month there back in August...not sure about the commute everyday though...I've also thought possibly about an apartment downtown.

You want downtown or Lido key. Siesta takes longer to get off the island during season.

[SoFLGal]

Originally Posted by bthorny

I've recent had a job offer come through on a job where I'll be working in Lakewood Ranch. I like that area it seems nice but I would really like to be closer to the beach. I really liked Siesta after spending a month there back in August...not sure about the commute everyday though...I've also thought possibly about an apartment downtown.

Depends on what your style is. Do you like to be within walking distance to the beach? With stuff to do in the evenings? Then Siesta or Lido might be a good option. But like Lady pointed out, the traffic can get a little hairy at times. From Lido to LWR would take you about 30 minutes give or take a little. Usually they jack up the prices on the keys in the winter time for our snowbird visitors. They know they can pull in more money/rent then. The prices on the keys are lower in the summer. I'm assuming you are thinking of renting.

From the downtown area you could shave off a few minutes of time. There's always something going on down there-festivals, farmers market, parades, etc.

[angelfish]

I wanted to weigh in on this because I make the drive from Stickney Point Rd (South Siesta Key Bridge) to LWR everyday, 2x a day to drop off and pick up my son from school. My drive is probably Further and deeper into LWR than you would be going- I go to state rd 64, and drive out east to Lorraine Rd. This drive is 30 mins. I was previously getting off at University and driving out east then north and it took me even longer. I would equate my extra mileage for my drive deeper into LWR, as your time spent on the bridge if there was traffic in season.

So I feel your drive from Lido to the interstate up to LWR would really be about the same in terms of time.. 30 mins for both areas give or take.

[bthorny]

Any good resources for listings of rentals?

[SoFLGal]

Try stringermanagement.com, sometimes Coldwell Banker has decent rentals (CB is not the company I work for). You might also want to try Craigslist.org as well. One of the main issues right now is landlords renting out properties that are in foreclosure. You end up with a knock at your door and a short time to move. If you're thinking of renting go here: Sarasota Cnty Property Appraiser and look under property search, then real property. Get the name of the owner of the property and then go here: SARASOTA : Clerk of Circuit Court & County Comptroller and look under official records in the owners name and make sure they don't have a lis pendes (beginning filings of foreclosure process) on the home.

Good luck with it!

[Dreamy46]

Originally Posted by SoFLGal

Try stringermanagement.com, sometimes Coldwell Banker has decent rentals (CB is not the company I work for). You might also want to try Craigslist.org as well. One of the main issues right now is landlords renting out properties that are in foreclosure. You end up with a knock at your door and a short time to move. If you're thinking of renting go here: Sarasota Cnty Property Appraiser and look under property search, then real property. Get the name of the owner of the property and then go here: SARASOTA : Clerk of Circuit Court & County Comptroller and look under official records in the owners name and make sure they don't have a lis pendes (beginning filings of foreclosure process) on the home.

Good luck with it!

That's some excellent advice, but would it also help if they did at least a primitive market analysis (especially on easy stuff like subdivisions that have many like homes) to see if they can determine how underwater an owner might be? Say for example that you look at a rental and the tax record says the owner paid $300k for it. You look in the MLS and these homes are now selling for $180k. That's a high risk situation to put yourself in as a renter. And those are the exact ones that are defaulting. If there's a negative carrying cost over what you are paying for rent, then the default risk is extremely high.

Looking at the deeds to determine amounts loaned on the property is also helpful:

Search the Sarasota County Official Records