Marc Rasmussen Realtor on Siesta Key, Florida Siesta Key real estate
1. Siesta Key is gorgeous
Siesta Key is a breathtaking eight mile long barrier island off the coast of Sarasota, Florida. It is know for its active, free spirited, bohemian life style. It is surrounded by the tranquil blue waters of the Gulf of Mexico and the Sarasota bay. Fortunate to have one of the world’s finest white sand beaches, several fun dining experiences, a multitude of water sports from boating to parasailing, and plenty of nightlife, Siesta Key offers a distinctive atmosphere for both visitors and residents. Sarasota, Florida is just over a short bridge from Siesta Key. Everything you need is located within minutes. Need to see a play, go to a movie, do some shopping, hit Wal-Mart, play golf with friends, have a drink with your spouse or hit the gym? All of that and much more is within a 10-20 minute drive from most Siesta Key homes and condos.
2. Recently voted 2nd best beach in the county
Stephen Leatherman, known by most as Dr. Beach, has chosen Siesta Key Beach as the number 2 beach in the nation for 2009, moving up from its number 3 position in 2008. Siesta Key Public Beach is known for its large, flat, white, sandy quartz beach and clear, aqua blue shallow waters. Siesta Key beach also has a public beach with lifeguards and beach patrol. The public pavilion offers restrooms, a snack bar, restrooms, grills, playground for children and beach volleyball. One walk along Siesta Key beach and you will understand why it was voted one of the prettiest beaches in the nation.
3. Prices have plummeted
Have you ever wanted to own a vacation home or condo? Do you want to spend your retirement years on a gorgeous beach? I know I would like to do that. Based on price, this appears to be a fabulous time to buy a condo or home on Siesta Key. We are seeing prices that have not been around for 8-9 years. Prices have dropped dramatically from the 2005 real estate market highs. Remember Warren Buffets investment philosophy – be greedy when others are fearful, be fearful when others are greedy.
4. Plenty to choose from
As of July 2009, the supplies of home and condos on Siesta Key have dropped roughly 30% from the inventory highs of 2005/2006. However, there are plenty of great buying opportunities right now on Siesta Key. Buyers are in the seat driving this market so they have a tremendous amount of leverage. Currently, a properly priced home or condo on Siesta Key sells for about 90% of list price. Buyers will not have this leverage forever. When the good news start coming it will be harder to get these Siesta Key sellers to leave this gorgeous island.
5. Interest rates are low
As of July 2009, interest rates are hovering in the mid 5% range. Historically, that is really low. With the way the government is printing money these days low rates may not last forever. If you have ever wanted to buy Siesta Key real estate this may be the perfect storm – low interest rates, plenty of options, buyers in control, prices are oversold and you would be buying on one of the best beaches in the country. Remember, the best real estate advice – location, location, location.
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