An article recently published in The Wall Street Journal offers some insight into whether or not you should be thinking of buying a second home in the next five years.
There is a lot to think about – with near record low mortgages rates, bargain prices and dwindling home inventories the once hard to attain second home is now at your fingertips for historically low prices. These factors have conspired to create somewhat of a buying frenzy in our perenially popular Sarasota market.
Sales of vacation homes fell 56% between 2006 and 2010, but climbed 7% in 2011, according to the most recent survey by the National Association of Realtors. Showing continued confidence in our market place.
At Murray Realty we have seen Sarasota properties receive multiple offers as well as an increase in activity in the high end market place. Waterfront properties are being snapped up at 50% of their boom value. Snow birds are feeling more confident that the market has bottomed out, therefore investing their money in a second property might be once again a sound investment.
Read Wall Street Journal’s full article
Location, location, location! This phenomenal home is situated two blocks from St. Armand’s Circle and two blocks from Lido beach – a slice of paradise in the midst of it all. The house backs on to the tranquil, open waters of Pansy Lagoon, across from the bird sanctuary which is teeming with spoonbill, ibis and a plethora of other wildlife. The house is thoughtfully laid out on a single storey, boasting 5 bedrooms and a den which capitalize on the water view. The owners undertook a million dollar renovation by Murray Homes in 2007 so the house is finished to the highest standards with rich, hardwood flooring and fine stone, top of the line fixtures and appliances. The indoor and outdoor living areas mesh seamlessly to create a single level resort-style effect so that entertaining friends or simply relaxing with family are equally effortless and enjoyable. The back deck is the crowning glory of this stunning home. There is 1200 sq. ft of covered and open deck from which to sit back and enjoy your very own resort-like setting. It is so tranquil that you can sit on the dock and hear the manatee and dolphin come up for air. The spacious spa cascades into the pool. The house is fully wired for audio visual. The fifth bedroom can easily convert to a second den or office.
Bev Murray and Jane Ebury