1. Siesta Key is beautiful
Siesta Key is a stunning eight-mile-long barrier island off the coast of Sarasota, Florida. He is known for his active, bohemian and free-spirited lifestyle. It is surrounded by the calm blue waters of the Gulf of Mexico and Sarasota Bay. Fortunate to have one of the best white-sand beaches in the world, several fun dining experiences, a multitude of water sports from boating to parasailing, and plenty of nightlife, Siesta Key offers a distinctive atmosphere for visitors and residents alike. Sarasota, Florida is just across a short bridge from the island. Everything you need is located within minutes. Do you need to see a play, go to the movies, go shopping, go to Wal-Mart, play golf with friends, have a drink with your spouse, or go to the gym? All of that and much more is within a 10-20 minute drive from most homes and condominiums on the islands.
2. Recently voted second best beach in the county
Stephen Leatherman, known to most as Dr. Beach, chose Siesta Key Beach as the number 2 beach in the nation in 2009, moving up from his number 3 position in 2008. The beach is known for its large, flat white sands. quartz beach and shallow blue clear water. Siesta Key Beach also has a public beach with lifeguards and beach patrol. The public pavilion offers restrooms, a snack bar, restrooms, grills, a children’s play area, and beach volleyball. One walk down Siesta Key Beach and you’ll understand why it was voted one of the prettiest beaches in the nation.
3. Prices have crashed
Have you ever wanted to own a vacation home or condo? Do you want to spend your retirement years on a beautiful beach? I know I would like to do that. Based on the price, this sounds like a great time to buy a condo or home on this island paradise. We are seeing prices that have not existed for 8-9 years. Prices have fallen dramatically since the housing market highs of 2005. Remember Warren Buffet’s investment philosophy: be greedy when others are afraid, be afraid when others are greedy.
4. Lots to choose from
As of July 2009, the supply of homes and condos on Siesta Key is down approximately 30% from the 2005/2006 inventory highs. However, there are plenty of great buying opportunities right now. Buyers are in the driving seat of this market, so they have a tremendous amount of leverage. Currently, a properly priced home or condo on Siesta Key sells for around 90% of list price. Buyers will not have this leverage forever. When the good news starts rolling in, it will be harder to get these vendors to leave this beautiful island.
5. Interest rates are low
As of July 2009, interest rates hover in the mid-5% range. Historically, that’s really low. With the way the government is printing money these days, low rates may not last forever. If you’ve ever wanted to buy real estate on Siesta Key, this could be the perfect storm: low interest rates, lots of options, buyers in control, prices are oversold, and you’d be buying on one of the best beaches in the country. Remember, the best real estate advice – location, location, location.
Visit my Siesta Key real estate page to see thousands of homes and condos for sale.
