Posts Tagged ‘Residential’

Sarasota Neighborhoods—Finding The Best One For You

May 8, 2008

Sarasota is a beautiful place to live in and it has a number of neighborhoods that you can choose from which best suits you tastes and preferences as a homebuyer. Each neighborhood in Sarasota is unique with so many special characteristics that will make the community very livable for you and your family. Neighborhoods differ in a lot of ways ranging from the size, amenities, demographics and the infrastructure of the area. It only takes a really good look at all of these Sarasota neighborhoods so that you will be able to choose one that will go well with your lifestyle and standards of living.

Downtown Sarasota Condos

When looking for a home in Sarasota, you might want to consider living in the revitalized downtown Sarasota condos. With the recent boom of condos in the place, buyers are given all the options of condo living in Sarasota. This neighborhood houses a lot of second home owners as well as retirees and residents who just love to stroll around the popular destination spots in the place such as the theatre, opera, fine dining, art galleries, book stores and parks.

Devonshire Park

This neighborhood offers a good alternative for the downtown Sarasota lifestyle. It is a unique combination of the Old Florida architecture and downtown living. It is a perfect neighborhood for those who are fond of different amenities but needs all of the privacy they can get from a single family home.

West Of Trail

This is one of the most prestigious areas in Sarasota and is known for the sought after luxury home districts situated in this locale. With the wonderful and mature landscaping that this district has to offer, along with the stately homes and the wide and hushed streets that bespeak the old Florida atmosphere, this residential area of Sarasota is definitely the one you’d surely want to call home.

Amberlea

If you prefer a neighborhood surrounded with lush trees and yards that are well maintained and manicured, then the neighborhood in Amberlea is the right one for you. It houses large lots and very spacious homes and the beach is just minutes away from your home. You can also go to fine dining and arts and culture amenities located in downtown Sarasota for just about 15 minutes of travel time and best of all, the neighborhood is a popular school district which makes it the best option for families.
Sarasota has a lot more wonderful neighborhoods to offer to its homebuyers and these residential areas are unique in their own way. With the different amenities that each neighborhood offers, you would surely love to live in every single one there is in Sarasota.

Vanessa Arellano Doctor
http://siestakeyrealestate.com

Florida Real Estate: Surviving The Mortgage Bust

May 3, 2008

The mortgage bust that hit the U.S. resulted in a major decline in the real estate market.

Florida and Miami were among those who were hit the hardest in the market decline of residential and commercial properties. Though compared to the state of the real estate market in 2006 and 2007, many analysts predicted that recovery is possible this year.

Mass Foreclosure Hit Florida

Due to the devaluation of the currency, as well as the high interest rates of many financial lenders, there has been a mass foreclosure going on in Florida. As the number of investors failed to pay their obligations, banks and other financial institutions were practically foreclosing properties left and right. These foreclosed residential units added to the rising number of unsold homes, which further depressed the current real estate market.

Failed Condo Projects Converted To Rental

Overbuilding of condominium units during the early market boom contributed to the decline of real estate market in Florida. At the moment, there’s a large supply of vacant condo units which was never acquired by any of the locals, and is converted into rentals to make ends meet.

But before that, the lack of market and acquisition of these condo units affected the rental income growth of Florida, which in turn made a negative impact on the overall percentage of the real estate economy.

Despite these problems, however, late months of 2007 ended in a positive result in the market. Since the conversion of these condos into rental residential units, the market seems to have stabilized and is projected to improve in the coming months.

Apartment Rental Booms

The downfall of condo acquisition sparked the current market boom for apartment units. According to the figures of REIS, there’s an approximate of more than 230,000 residential units available in the market since 2007, with an average monthly rent of $1,062 per unit.

Also, the increasing demands of new workforce in the state produced a higher demand of residential units in South Florida. Construction projects for apartments can be seen all around the area to address it. Analysts are now reporting that development for such real estate will continue to be seen in the next 24 months.

Foreign Acquisitions On Residential Properties

There has been an increasing number on acquisition of real estates, especially condos, from foreign investors. According to statistics, it seems that Canadians and Europeans are taking advantage of the currency devaluation by purchasing condo units in the city at a cheaper price. Since they are not affected with the mortgage crisis that is prevalent in the nation, the investments they put it are likely to be affordable on their end, in contrast to local investors.

Vanessa Arellano Doctor
http://miamirealestateinc.com