12 Foreclosures Near the BeachPosted by Marc Rasmussen on Wednesday, September 26th, 2012 at 12:34pm.
- 290 N Washington Dr, Sarasota - Home on St. Armands Circle
- 204 Bird Key Dr, Sarasota - Home on Bird Key
- 1300 Benjamin Franklin Dr, Sarasota - Home on Lido Key
- 940 Siesta Key Pl, Sarasota - Home on Siesta Key
- 5621 Gulf Of Mexico Dr, Longboat Key - Condo on Longboat Key
- 1211 N View Dr, Sarasota - Home on Siesta Key
- 901 Beach Rd, Sarasota - Condo on Siesta Key
- 1945 Gulf Of Mexico Dr, Longboat Key - Condo on Longboat Key
- 605 Jungle Queen Way, Longboat Key - Home on Longboat Key
- 9011 Midnight Pass Rd, Sarasota - Condo on Siesta Key
- 44 Twin Shores Blvd, Longboat Key - Mobile home on Longboat Key
- 571 Saint Judes Dr, Longboat Key - Condo on Longboat Key
97% & 93%
We do talk to many people looking to purchase a distressed property. Many still believe that you can make ridiculously low offers on these distressed properties or any properties for that matter. We love a great deal just like the next person but you are most likely spinning your wheels with any offer well below list price.
The average discount from the last asking price on foreclosures and short sales is 97%. The average discount with traditional sellers is 93%
Where Are All of the Foreclosures?
I received an email this morning from a prospective buyer. In the email he said that his friend mentioned that the Sarasota real estate market had a large number of foreclosures.
Let's clear this up - there are not many foreclosures in the Sarasota market. That may change but right now the options are limited. The 12 properties above constitute the majority of bank owned properties on the barrier islands - Siesta Key, Longboat Key, Lido Key, Bird Key and Casey Key.
The chart below shows the last 5 years of bank owned and short sale properties in Sarasota county (includes south county areas of North Port and Venice). Notice the huge drop?
Sold Sarasota Foreclosures and Short Sales
|Total Sales||Bank Owned/Short Sales||% Distressed|
The percentage of distressed properties is lower in 2012 than 2011. The demand for foreclosures or short sales has not declined. All buyers seek a "DEAL." There are just fewer of these types of properties out there.
Give us a call at 941.822.0708 if we can help you buy or sell a home in Sarasota.