Sarasota Real Estate | Sarasota Homes » Bank Owned Homes

Sarasota Bank Owned Homes

Bill — Thu, 20 Nov 2008 22:56:47 +0000

Sarasota foreclosure homes are great buying opportunities right now. These Sarasota bank owned homes are available today, and are updated daily here on my website. Buying a Sarasota Florida foreclosure is a great way to find homes with instant equity in the market. Investors, first time home buyers, and 2nd home purchasers alike should take advantage of these specially-priced homes designed for quick sale.

There is currently a lot of competition for these distressed sales, so it is important to work with a Sarasota realtor who is experienced in Sarasota foreclosures and Sarasota short sales, and knows the ins and outs of the foreclosure process. I can help you evaluate the Sarasota real estate market in order to draft the best terms for you with the greatest chance of success in acquiring the property.

Feel free to browse Sarasota foreclosures below, and please do not hesitate to contact me when you want to visit one. Foreclosure property purchases should be done with the assistance of a Realtor with specialty experience in this area. I have represented many buyers for foreclosure properties, and I hope to work with you too!

Sarasota Foreclosures:	$400,000 – $500,000	$800,000 – $900,000
$100,000 – $200,000	$500,000 – $600,000	$900,000 – $1,000,000
$200,000 – $300,000	$600,000 – $700,000	$1,000,000 – $2,000,000
$300,000 – 400,000	$700,000 – $800,000	Over $2,000,000

Newest Sarasota Foreclosures For Sale:

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Showing properties 1 - 25 of 250. See more Sarasota Bank-Owned - Residential Homes.
(all data current as of 2/8/2012)

$389,900 : 216 85th St, Holmes Beach

2 beds, 2 full baths

Home size: 1,571 sq ft

Lot size: 9,000 sq ft

Year built: 1969

Parking spots: 1

Days on market: 4
$119,900 : 703 E 49th E St, Bradenton

3 beds, 2 full baths

Home size: 1,405 sq ft

Lot size: 6,403 sq ft

Year built: 1988

Parking spots: 2

Days on market: 4
$60,000 : 3703 118th W St, Bradenton

2 beds, 1 full, 1 part baths

Home size: 982 sq ft

Lot size: 7,187 sq ft

Year built: 1961

Parking spots: 1

Days on market: 4
$53,000 : 3623 19th E St, Bradenton

3 beds, 2 full baths

Home size: 1,128 sq ft

Lot size: 7,250 sq ft

Year built: 2004

Parking spots: 1

Days on market: 4
$244,900 : 5661 Country Lakes Dr, Sarasota

3 beds, 2 full, 1 part baths

Home size: 2,276 sq ft

Lot size: 12,632 sq ft

Year built: 1988

Parking spots: 2

Days on market: 5
$184,900 : 2685 Moss Oak Dr # 21, Sarasota

3 beds, 3 full baths

Home size: 2,297 sq ft

Lot size: 10.77 ac

Year built: 1988

Parking spots: 2

Days on market: 5
$149,900 : 7707 San Juan Ave, Bradenton

4 beds, 2 full baths

Home size: 2,386 sq ft

Lot size: 14,505 sq ft

Year built: 1973

Parking spots: 2

Days on market: 5
$147,900 : 4279 Charing Cross Rd, Sarasota

3 beds, 2 full baths

Home size: 1,704 sq ft

Lot size: 10,939 sq ft

Year built: 1977

Parking spots: 2

Days on market: 5
$138,999 : 4178 Keats Dr, Sarasota

2 beds, 2 full baths

Home size: 1,662 sq ft

Lot size: 10,128 sq ft

Year built: 1979

Parking spots: 2

Days on market: 5
$124,900 : 4650 Runabout Way, Bradenton

3 beds, 2 full baths

Home size: 1,530 sq ft

Lot size: 7,018 sq ft

Year built: 2000

Parking spots: 2

Days on market: 5
$104,900 : 612 Frances St, Nokomis

3 beds, 1 full bath

Home size: 730 sq ft

Lot size: 10,326 sq ft

Year built: 1967

Days on market: 5
$98,999 : 3009 Salem Ave, Sarasota

3 beds, 2 full baths

Home size: 1,014 sq ft

Lot size: 11,340 sq ft

Year built: 1955

Parking spots: 1

Days on market: 5
$725,000 : 680 N Macewen Dr, Osprey

5 beds, 4 full, 2 part baths

Home size: 5,506 sq ft

Lot size: 27,359 sq ft

Year built: 2002

Parking spots: 3

Days on market: 6
$399,950 : 630 Sand Crane Ct, Bradenton

4 beds, 4 full baths

Home size: 3,665 sq ft

Lot size: 18,722 sq ft

Year built: 2000

Parking spots: 3

Days on market: 6
$239,900 : 167 Tampa E Ave # 213, Venice

2 beds, 2 full baths

Home size: 1,705 sq ft

Lot size: 14,566 sq ft

Year built: 2007

Days on market: 6
$135,000 : 5982 Willows Bridge Loop, Ellenton

4 beds, 2 full baths

Home size: 2,207 sq ft

Lot size: 7,414 sq ft

Year built: 2005

Parking spots: 2

Days on market: 6
$61,750 : 7417 Vista Way # 207, Bradenton

2 beds, 2 full baths

Home size: 1,080 sq ft

Year built: 2001

Days on market: 6
$54,900 : 6027 Rollins St, Bradenton

2 beds, 2 full baths

Home size: 1,209 sq ft

Lot size: 7,560 sq ft

Year built: 1969

Parking spots: 2

Days on market: 6
$53,500 : 6006 12th E St, Bradenton

3 beds, 2 full baths

Home size: 1,380 sq ft

Lot size: 11,280 sq ft

Year built: 1960

Parking spots: 1

Days on market: 6
$159,900 : 4436 Sanibel Way, Bradenton

3 beds, 2 full baths

Home size: 1,832 sq ft

Lot size: 6,790 sq ft

Year built: 2002

Parking spots: 2

Days on market: 7
$149,900 : 4910 23rd E St, Bradenton

3 beds, 2 full baths

Home size: 1,908 sq ft

Lot size: 7,362 sq ft

Year built: 1998

Parking spots: 2

Days on market: 7
$103,000 : MLS # A3955363 in Sarasota

2 beds, 2 full baths

Home size: 848 sq ft

Lot size: 5.66 ac

Year built: 1984

Parking spots: 1

Days on market: 7
$76,900 : 4315 E 37th E St, Bradenton

3 beds, 2 full baths

Home size: 1,216 sq ft

Lot size: 41,600 sq ft

Year built: 1985

Parking spots: 1

Days on market: 7
$267,700 : 904 69th W Ave, Bradenton

3 beds, 2 full, 1 part baths

Home size: 1,578 sq ft

Lot size: 17,325 sq ft

Year built: 1982

Parking spots: 2

Days on market: 8
$179,500 : MLS # A3955263 in Sarasota

2 beds, 2 full baths

Home size: 1,055 sq ft

Year built: 1964

Days on market: 8

Listing information deemed reliable but not guaranteed. Read full disclaimer.

Sarasota Bank-Owned Foreclosures:

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Sarasota Bank Owned Condos

Bill — Wed, 06 Oct 2010 22:58:54 +0000

Sarasota has some very great buying opportunities right now in bank foreclosed condos. These condos are available today, and are updated daily here on my website. Buying Sarasota Florida condo foreclosures is a great way to find homes with instant equity in the market. Investors, first time home buyers, and 2nd home purchasers alike should take advantage of these specially-priced homes designed for quick sale.

Feel free to browse Sarasota condominium foreclosures below, and please do not hesitate to contact me when you want to visit one. Foreclosure property purchases should be done with the assistance of a Realtor with specialty experience in this area. I have represented many buyers for foreclosure properties, and I hope to work with you too!

Sarasota Foreclosures:	$400,000 – $500,000	$800,000 – $900,000
$100,000 – $200,000	$500,000 – $600,000	$900,000 – $1,000,000
$200,000 – $300,000	$600,000 – $700,000	$1,000,000 – $2,000,000
$300,000 – 400,000	$700,000 – $800,000	Over $2,000,000

Most Recent Sarasota Foreclosure Condos For Sale:

View Results on a Map

Showing properties 1 - 25 of 80. See more Sarasota Bank Owned - Condos.
(all data current as of 2/8/2012)

$184,900 : 2685 Moss Oak Dr # 21, Sarasota

3 beds, 3 full baths

Home size: 2,297 sq ft

Lot size: 10.77 ac

Year built: 1988

Parking spots: 2

Days on market: 5
$239,900 : 167 Tampa E Ave # 213, Venice

2 beds, 2 full baths

Home size: 1,705 sq ft

Lot size: 14,566 sq ft

Year built: 2007

Days on market: 6
$61,750 : 7417 Vista Way # 207, Bradenton

2 beds, 2 full baths

Home size: 1,080 sq ft

Year built: 2001

Days on market: 6
$103,000 : MLS # A3955363 in Sarasota

2 beds, 2 full baths

Home size: 848 sq ft

Lot size: 5.66 ac

Year built: 1984

Parking spots: 1

Days on market: 7
$179,500 : MLS # A3955263 in Sarasota

2 beds, 2 full baths

Home size: 1,055 sq ft

Year built: 1964

Days on market: 8
$96,900 : 7726 Plantation Cir, Bradenton

2 beds, 2 full, 1 part baths

Home size: 1,156 sq ft

Lot size: 3.82 ac

Year built: 2004

Parking spots: 1

Days on market: 8
$64,800 : 7405 Vista Way # 101, Bradenton

2 beds, 2 full baths

Home size: 1,048 sq ft

Lot size: 107.99 ac

Year built: 2001

Parking spots: 1

Days on market: 8
$259,900 : 504 Forest Way, Longboat Key

2 beds, 2 full, 1 part baths

Home size: 1,440 sq ft

Lot size: 2.11 ac

Year built: 1990

Parking spots: 1

Days on market: 10
$139,900 : MLS # A3955388 in Sarasota

1 bed, 1 full bath

Home size: 1,081 sq ft

Lot size: 1.14 ac

Year built: 1972

Parking spots: 1

Days on market: 12
$112,900 : 414 Laurel Lake Dr # 202, Venice

2 beds, 2 full baths

Home size: 1,176 sq ft

Lot size: 3.57 ac

Year built: 2001

Parking spots: 1

Days on market: 12
$217,000 : 7620 Bergamo Ave, Sarasota

3 beds, 2 full, 1 part baths

Home size: 1,662 sq ft

Lot size: 2,687 sq ft

Year built: 2004

Parking spots: 1

Days on market: 13
$59,700 : 4802 51st W St # 1419, Bradenton

2 beds, 2 full baths

Home size: 1,048 sq ft

Year built: 2002

Days on market: 13
$52,995 : 6208 29th W Ave # 6208, Bradenton

1 bed, 1 full bath

Home size: 756 sq ft

Lot size: 22.41 ac

Year built: 1981

Parking spots: 1

Days on market: 14
$66,500 : 4802 51st W St # 1311, Bradenton

2 beds, 1 full bath

Home size: 1,008 sq ft

Lot size: 39.24 ac

Year built: 2002

Days on market: 15
$354,900 : 147 Tampa E Ave # 903, Venice

2 beds, 2 full baths

Home size: 1,705 sq ft

Lot size: 27,954 sq ft

Year built: 2004

Days on market: 16
$78,000 : 5515 Bentgrass Dr # C-103, Sarasota

1 bed, 1 full bath

Home size: 906 sq ft

Lot size: 81.47 ac

Year built: 2002

Parking spots: 1

Days on market: 16
$53,995 : 4578 Shoshone Trl # 173, Sarasota

2 beds, 2 full baths

Home size: 1,178 sq ft

Year built: 1973

Parking spots: 1

Days on market: 16
$395,010 : 800 N Tamiami Trl # 201, Sarasota

2 beds, 2 full, 1 part baths

Home size: 1,920 sq ft

Lot size: 2.18 ac

Year built: 2007

Parking spots: 1

Days on market: 18
$94,999 : 7254 Eleanor Cir # 103, Sarasota

2 beds, 2 full baths

Home size: 1,064 sq ft

Lot size: 12,929 sq ft

Year built: 1996

Parking spots: 1

Days on market: 19
$84,900 : 923 Fairwaycove Ln # 203, Bradenton

2 beds, 2 full baths

Home size: 1,104 sq ft

Year built: 2006

Parking spots: 1

Days on market: 20
$264,900 : 4978 Gulf Of Mexico Dr # 17, Longboat Key

3 beds, 2 full baths

Home size: 1,598 sq ft

Lot size: 1.10 ac

Year built: 1974

Days on market: 21
$99,000 : 6451 Seagull Dr # 262, Bradenton

3 beds, 2 full baths

Home size: 1,592 sq ft

Lot size: 5.10 ac

Year built: 1980

Parking spots: 1

Days on market: 21
$94,900 : 2740 Orchid Oaks Dr # 304b, Sarasota

2 beds, 2 full baths

Home size: 1,365 sq ft

Lot size: 6.60 ac

Year built: 1980

Parking spots: 1

Days on market: 21
$139,900 : 1803 Edgewater Ln # 40, Palmetto

2 beds, 2 full baths

Home size: 1,251 sq ft

Lot size: 5.17 ac

Year built: 1996

Parking spots: 2

Days on market: 22
$111,900 : 4134 Central Sarasota Pkwy # 1723, Sarasota

2 beds, 2 full baths

Home size: 1,209 sq ft

Lot size: 42,887 sq ft

Year built: 1998

Parking spots: 1

Days on market: 23

Listing information deemed reliable but not guaranteed. Read full disclaimer.

Bank-Owned Sarasota Foreclosure Condos:

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Sarasota Foreclosures – What Do You Offer?

Bill — Tue, 19 Oct 2010 03:00:51 +0000

I recently received two inquiries this past week about two different Sarasota foreclosures, and both happened to be Sarasota luxury homes listed over 1 million. There has been so much press about great deals in foreclosures, “it’s a buyer’s market”, “slashed pricing” etc. etc., that buyers are getting very excited to acquire their own great buy… which is great to see! Obviously, everyone wants a great deal, and YES, it is absolutely an unprecedented time to buy a home due to drastically reduced pricing and phenomenal interest rates in the low 4′s, but some buyer’s perception of the market, and more importantly what they can offer to actually successfully acquire a foreclosure home, is a bit skewed.

I received an inquiry where the buyer wanted to offer 35% of the listed value on a bank owned home over 1 million. One must understand the process before drafting an offer. The bank has already done their homework before listing a home. They have usually acquired 3 written broker price opinions as to the value, and they usually list the home price in line with their price reports. Many times, they price below those numbers to move the home fast. The key is they already figured the numbers, and priced accordingly. There is a threshold that they will negotiate off that number if necessary, but it is almost never a drastic reduction. Maybe 1-10%, maybe a shade more on a high-end home. Some banks will not even entertain and counter on offers at 20% below the list price…they just counter back at full price.

In fact, the average list to sale price is usually only a few percent, and in price ranges under 200k, they often sell over list price due to multiple-offer competition. As the price range rises, the spread between list price and purchase price becomes a little larger, but it is not a free-for-all ….at ANY price.

Here is a real life example:

A potential buyer wanted to put an offer in on a property listed over 1M. They indicated they wanted to offer 65% less.
Here is the recent sold data for bank owned Sarasota foreclosures over 1 million:

1502 Siesta Drive:
Original List: $1,950,000
Sold for $1,750,500
Day on the market: 17
Terms: Cash sale
% change List to Sold Price: 10% reduction

3749 Founders Club Drive
Original List: $1,025,000
Sold for: $ 900,000
Day on the market: 182
Terms: Cash Sale
% change List to Sold Price: 12% reduction (at 182 days on the market)

The bank would be asked to accept 65% less than list price, when the last two most recent sales were 10% and 12% respectively, and the subject home is already discounted. Here is what is important to understand in foreclosures. The “deal” that this buyer is looking for is many times already accounted for in the list price, as the home is listed below market value. Anything else that comes off the price is bonus, but a buyer should not expect any drastic reductions from the bank in the negotiation process.

Here is the reality for List Price to Sold Price ratios for Sarasota County Foreclosures in the past 30 days:

Price: Under 100,000
# of sales: 101
Average Days On Market: 43
Ratio: 97% of list price

Price: 100k – 250k
# of sales: 47
Average days On Market: 35
Ratio: 98%

Price: 250k – 500k
# of sales: 18
Average days On Market: 82
Ratio: 97%

Price: 500k – 1M
# of sales: 4
Average days On Market: 64
Ratio: 85%

Price: 1M +
# of sales: 2 (needed to go back 3 months)
Average days On Market: 97
Ratio: 89%

As you can see, the deals are already built into the price. As you get to higher end, the ratio is a bit more flexible, but understanding the market is the key to acquiring your Sarasota dream home at the right price. If you are interested in a Sarasota foreclosure deal, contact me and we can discuss your situation!

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My Day Showing Sarasota Foreclosure Homes

Bill — Sun, 11 Jan 2009 12:56:04 +0000

Yesterday, I met with a first time homebuyer looking to purchase a Sarasota bank foreclosure home in the greater Sarasota area. I wanted to comment on a few observations and thoughts I had during our excursion. If you are currently a renter, or someone who is thinking about an investment property, this may interest you!

First, there are some GREAT buys out there right now. Ok, lets preface this….most Sarasota foreclosures need work of some kind. That is to be expected. Usually when owners can no longer afford the house they live in, they tend to have neglected maintenance for some time before the actual foreclosure. Although this is common, I must say that we toured a few homes yesterday that were virtually turn-key ready to move in. Maybe the homes need some paint and carpet, however we saw some entry-level homes listed around $115,000 that were in good condition! That would have been unheard of just two years ago. ( ok, I will say we ALSO saw homes that had no kitchens, air conditioning was stolen, and basically, the home was a trainwreck) There is quite a mix.

Second, I was delighted to see that we saw some other agents showing the same properties. The reason I was happy to see this is because in the past several months, I have never run into another agent showing the same listing at the same time. It was refreshing actually and a good sign that activity is increasing. We are in our peak season of the year, and I know activity naturally rises January through May, however increased activity regardless of the cause should be refreshing for everyone.

Also, as noted in my November 2008 Sarasota Housing Statistics report, there are some interesting trends in the numbers that indicate November 2008 was far better than November 2007. Inventory levels are down, prices had experienced quite a correction, average days on the market is down, and average list price to sales price is up. There is so much negative economic news out there, we need to be reminded that there is actually some good indicators too. The next few month’s statistics will be interesting and I look forward to December’s numbers being released.

Third, the interest rates are just phenominal. This point goes out to the renters out there, particularly if you have a good credit history. (important for financing right now) In the past, you may not have been able to make the numbers work to buy rather than rent, however with the average median price down almost $60,000 from just a year ago, along with interest rate in the low 5% range, you may actually be surprised at what you can afford now for close to the same rent you maybe paying! If you would like more info, contact me!

Savvy investors buck the masses and stay ahead of the curve. When the market was going nuts, the skilled investor was selling and taking advantage of the chaos! Now that the market has been beaten up, prices have corrected, inventory levels are still rather high, buyer volume is low, and interest rates are extremely low, these same investors are now looking to buy again! Isn’t it time to try to be ahead of the curve?

I can say with confidence that there are nice homes out there for reasonable prices. I saw a few yesterday. Now, the days of flipping homes in 30 days are over, but the average home buyer lives in a home for several years, so a new purchase now make actually make a lot of sense.

I will leave you with a final thought which I borrowed, “With real estate in the current market conditions, It’s not timing the market per se, it is time IN the market”. If you buy now, and live in your home for 5-7 years which is average, (and the time it will take for this current market to be just a bad memory) in 5-7 years, you will very likely be considered “a savvy investor” by your friends and family. Woulda Coulda Shoulda.

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