I only had the previous post up for a few minutes when I received a call to clarify a point on condos - do the rules of investing hold true in the current condo market in Sarasota?
I will keep this short and to the point. If you are looking to purchase a condo as your primary residence, or for any personal use, it is actually a terrific time to buy. With such a glut of condos on the market, some still in pre-construction, you can scoop up a condo with great amenities for a really fantastic price.
If you are looking at condos as investments to re-sell within a few years, keep in mind that it is estimated that we may have as much as a 5 year inventory of condos in Sarasota County right now. Essentially, that means that for as many years, we will likely be experiencing a tough situation for sellers of condos. I would only consider a condo for a resale strategy if I were thinking very long term, at LEAST 5 years out. If investing is of interest to you, please read the post below as well. I hope you find it informative and helpful.
Regina Brassil, REALTOR
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