What are considered the best condo complexes in Sarasota (Bradenton: foreclosures, leasing)

[nubiwan]

Is there a place where you can get some statistics on the various condo communities in Sarasota / Bradenton? Things like percentage owned versus rented, how many foreclosures, HOA information, etc.? Also, what is the website where people comment on renting in these complexes? I know it was on a post I read, but cannot find that post again?

If I am looking at a condo/townhome in the $80-100K range, then are there complexes I need to stay away from, and what are there ones that have decent reputations? Do good complexes exist in that price range? Should I be looking at new (post 2000) communities, or more established ones?

Hope this isn't a repeat of a previous thread, but have been unable to find a topic devoted to the subject. Rather people simply asking how good a given complex might be.

[Sunshine Rules]

It would make life so much easier for condo buyers and their agents if all of the condo communities put the info such as you are asking about on a specific web site. Some communities such as Admirals Walk in Sarasota have pretty much all of that info posted on their own web site. Some condo management companies such as Argus have that info posted on their web site under the individual condo community's name (although some board of associations do not allow specific information or budgets to be posted to the web).

For the majority of the others, you have to find out who is the management company for the condominium community (and the listing agent doesn't always that the correct info in the MLS listing) to obtain information. Sometimes listing agents to attach some of the condo documents such as Rules & Regulations, Question & Answer Sheet, to their MLS listing information so that other agents can download it for their buyers. Many communities will charge you anywhere from $35 to $75 for a complete set of the condo docs. Others refuse to give out the number of units that are delinquent on the monthly fees due to association or management company policy.

To answer your question - yes, there are good options in your price range. Be sure to check into the financial stability of any community you are interested in. Some people only want newer communities but there are some slightly older communities that have good financials and are well maintained. I would also recommend taking into consideration what is covered in the HOA fees. Sometimes an association with what looks like a higher monthly fee is a better deal than a lower fee if it includes things such as water/sewer, cable tv and roof maintenance. Which brings up another point. Be sure to find out who is responsible for roof replacement - the association as a group or the individuals in the particular building. Otherwise you could end up having to pay a special assessment for roof replacement in the future.

If you're going to owner occupy the unit, you may wish to concentrate more on condo communities that have a majority of owner occupied units. Also check the leasing terms of the community - if they allow short term rentals you may have less stability as your neighbors may change multiple times over the year.

Last, but most importantly, are you planning to pay cash or need to obtain a mortgage? I'm asking because the list of condo communities in the Bradenton - Sarasota area that meet the Fannie & FHA guidelines for financing is very short. So if you need a mortgage you are limited to just those condo communities that qualify.