Sarasota Real Estate News

The investors are back!!  A total of 38 homes sold during the past 30 days on Siesta Key and 70 percent were cash buyers.  I'm also happy to report that Michael Saunders and Company sold more homes on Siesta Key Beach last month than any other real estate brokerage firm and here are some MORE interesting facts:

• Siesta Dunes:  two condos sold, average price $797k.  This well-managed all-inclusive resort is gulf side, pet friendly, with a beach deck and pavilion, beach chairs, heated pools and spas, and handles weekly rentals.  
• Whispering Sands: three sold in this over-55 gulf-side community; but this is not for you if you are under the age of 55, have a pet, or looking for rental income.  I like Whispering Sands because the condos are on the beach and within walking distance of the restaurants in the Village.  And I'm over 55 :-))
• Interestingly, on Siesta Key, five of the single family homes sold were newer.  Investors previously purchased older one-story, small beach cottages built in the 1950’s, ‘60’s and ’70, knocked them down, and built new homes over 4,000 square feet.  Idea is to buy small a home for $200 per square foot, rebuild a large home, and sell it for over $500 per square foot.   Doing the math:  $200 x 2500 sf = $500k to purchase.  $500 x 4,000 sf = $2 million when sold. 

• One of our agents sold 4509 Banan Place for $565k also on Siesta.  Built in 1962 with 1,920 square feet, it generated $40,000 in rental income per year--with no homeowners’ association fees that can cost $7,000 per year out of pocket.  I have been in this home and it has been updated to please rental guests, but I’m betting that in five years, the new owner will tear it down and rebuild a mansion.  In the meantime, the owner has made $200,000 in rental income (less rental management fees of 15%), and saved $35,000 in monthly condo fees since it is a single family home and not a condo.  That’s enough profit to get started building the next beach mansion that will be sold for $4 million or more.  Make you want to call a couple of friends and get started investing in Siesta Key real estate?  I can tell you that many of the homeowners who bought their little Florida beach cottages are not happy about the way this is changing their cozy neighborhoods...but having said that, I'm here to help you find your little investment cottage!

Linda’s List!  My picks for the week are in north Sarasota:  

1. MLS A4177664 – 4864 Marsh Field Road, 3BR 2BA pool home 2,050 sq ft, in the Meadows neighborhood; updated; community has three 18-hole golf courses.  $349.9k
2. MLS A4175331 – Luxury Home:  7316 Barclay Court, 5 BR, 5/1bath in University Park Country Club.  250 feet of lake and golf course view; detached guest suite, ½ to 1 acre, exceptionally landscaped; $1,250k.
3. A4177516 - 800 N. Tamiami Trail, Alinari, 1BR 1BA, 1,070 sq ft Sarasota Bay view for $389k.  Highway 41 north of Fruitville.

To see photos and for more information, go to my website: LindaHrealtor.com and enter the MLS number beginning with A in the home search field.  Have a great weekend, please don’t text and drive, and remember I’m here to assist you with your Sarasota real estate needs. If you are interested in seeing any of the properties on this week’s list, I’m happy to be your Realtor!

Most sincerely yours,

Linda Holley, Realtor, GRI  941-914-4914
p.s. The biggest compliment you can give me is a referral!  

Good afternoon!

Here are four of my favorite homes for sale in Sarasota today.   To see photos and learn more about the properties, go to my website PalmerRanchLindaHolley.com and enter the MLS Number in the Home Search box.  

1.  A4162138 - 3941 Spyglass Hill Road, Country Club of Sarasota.  This 4 bedroom pool home is 2,578 square feet, listed at $599k.  Extensively remodeled, this home has a beautiful chef's kitchen, bamboo floors, and touches of luxury in every room.  Country Club of Sarasota is a gated community with a clubhouse, pool, tennis, and golf course views. 

2.  A4160978 - Castel del Mare, 1638 Stickney Point Road, #201, This 3 bedroom condo is just over 1,400 square feet with two private lanais and washer/dryer, listed at $269k.  A five-minute walk to Siesta Key, Castel del Mare is on the Intercoastal Waterway with two heated pools, tennis courts, and a fitness center.  This condo is priced to sell, and won't last long - the perfect place for your visitors to stay when they come to town!  This is a wonderful investment opportunity - and can generate $4,000 per month in rental income during the season.  :-( Sorry it's not pet friendly.  Rental policy: one month minimum, three times per year.

3.  A4136122 -  Stoneybrook Golf and Country Club, Palmer Ranch, 9610 Club South Circle #4202, 2 bedroom, 2 bath condo overlooking Stoneybrook Golf Course, just $197k.  Fees to Golf and Country Club: $4,604 per year plus $2,720 homeowners association which covers grounds maintenance.  

4.  A4161675 -  Stoneybrook Golf and Country Club,  just listed 8913 Olde Hickory Avenue, 3 bedroom single family home for $429k, a real deal in this community.  Fees to Stoneybrook Golf and Country Club: $4,604 per year; exterior maintenance is the responsibility of owner.

These are my team mates' listings at Michael Saunders and Company, Palmer Ranch office, and I am looking for Buyers so we can get these homes SOLD!  Please let me know if you have questions about these or other homes on the market and I'll be happy to assist you!

Most sincerely yours,

LInda
Linda Holley, Realtor, GRI
Phone 941-914-4914
Email LindaHolley@MichaelSaunders.com
PalmerRanchLindaHolley.com

Palmer Ranch real estate is booming!   Here's a list of the active listings for some of the Palmer Ranch communities and the number of properties that sold the past 90 days.  

Botanica subdivision currently has six active listings and six sold the past 90 days.  Mira Lago: three active listings and eight sold;.  The Isles- 15 active, 16 sold; Villagewalk - 4 active listings, 20 sold;  Turtle Rock - seven active listings, 11 sold; Stoneybrook - 18 active and 25 sold!  Deer Creek - 11 active, 2 sold.

Let me help you with your Palmer Ranch Real Estate needs!  Linda Holley, realtor, Michael Saunders and Company, 8660 S. Tamiami Trail, Sarasota, FL 34238 Phone 941-914-4914  web address: PalmerRanchLindaHolley.com.