Looking for paradise?
Many people consider Longboat Key, Florida to be very paradise like. This eleven mile long barrier island is located off the coast of Sarasota and Bradenton, Florida. It is on the west coast of the sunshine state and just over an hours drive from Tampa. Vacationers and snowbirds can fly into either Tampa or Sarasota and get to Longboat Key within a short drive.
People vacation, spend winters or live on Longboat Key because of the gorgeous beaches, ample sunshine, fun activities, relaxed lifestyle and overall superior quality of life. This is a popular destination during the winter time. Instead of fighting the dreary, cold weather you could be taking a stroll along the beach, golfing with your spouse, taking a leisurely bike ride, dining on St. Armands Circle or shopping in Sarasota.
There are plenty of Longboat Key condos to choose from. You have small affordable places that are clean, cozy and close to the beach all of the way to multi-million dollar penthouses. Here are some tips to finding the best condominiums on the island:
1) Establish your needs/wants - Sit down and make a list of what you need and what you want. This list will probably change once you learn the Longboat Key real estate market but this is still a very productive exercise.
2) Find a good Realtor - This will shorten your learning curve. Find a good real estate agent and pick their brain. If you are looking to buy a condo on Longboat Key then make sure you find one that knows the island. Ask them how many properties they have sold on the island.
3) Learn the Longboat Key real estate market - before you can feel comfortable making a purchase you need to know a little bit about the market. Have your real estate agent send you condos for sale as well as condos that have recently sold. Analyze what people are buying. This will manage your expectations. You may have a budget of $500,000 but your wants and needs require a budget of $2 million. Viewing what has sold and what is for sale will help you learn the market.
4) Be realistic - Again, make sure your needs and wants match your budget. We all want to buy that $2 million condo for $500,000 but it just does not happen. Many of the properties on Longboat Key have no mortgage. This means most sellers have little financial pressure to sell. They obviously want to sell because their property is listed with a Realtor but that does not mean that they are going to give it away. Put yourself in their shoes. If you have no mortgage and similar condos have sold for around $600,000 would you take $500,000 or less from a buyer? Probably not.
5) Look for foreclosures - Ask your Realtor to send you Longboat Key condos that are owned by banks. There are not many. In fact, there are very few and don't expect to find anything. However, it does not hurt to look.
Follow these tips and you are on your way to finding a great condo and owning your very own slice of paradise.