Foreclosures???? Not in Sarasota????

No foreclosed properties for sale in Sarasota??

Yep, it's true.  Well, almost true.

We have very few bank-owned properties on the market in Sarasota at the current time. And a lower number of homes for sale. Or, as we realtors like to say, we have lower "inventory".

The results??? 

Prices have stabilized .

Of course, the other side of the foreclosure mess is short sales (homes where the owner of the home has a mortgage in excess of the value of the home...so the seller is "short" at closing and the bank has to agree to the sale) , which we do have in greater abundance. 

So few forelcosed properties for sale in Sarasota is good news for sellers...and not so good news for buyers.  

Here's a look at the inventory of bank-owned properties (foreclosed properties on the market) in our various Sarasota neighborhoods:


Lido Bank-Owned properties on the market:                     1  home
Downtown Bank-Owned properties on the market:            1  home   ;   4 condos
West of Trail Bank-Owned properties on the market         0
South Gate Bank-Owned properties on the market            2  homes
Phillip Creek/Landings/Gulf Gate Bank-Owned                 11 homes
Meadows/Desoto Lakes Bank-Owned                               5 homes  ;   2 condos
Palmer Ranch Bank-Owned properties on the mkt             6 homes  ;   2 condos
Palm Aire Bank-Owned properties on the mkt                   5 homes  ;   2 condos
University Park/University Place Bank-Owned                   0
Lakewood Ranch Bank-Owned properties on the mkt        8 homes  ;   2 condos
Oaks/Rivendell/Casey Key Bank-Owned properties          4 homes
Casey Key/Venetian Golf Bank-Owned properties           10 homes ;   2 condos