Sarasota Real Estate Blog

While the media devotes a lot of space and time to highlighting the negative aspects of today's real estate market, there are actually many unique opportunities that exist for savvy buyers in the Sarasota market. This may be your once-in-a-lifetime chance to purchase a first or second luxury home at prices we haven't seen in many years. 

Buying a high-end property requires a different approach, though. As a Certified Luxury Home Marketing Specialist, I am well versed on the important nuances of luxury home buying and I have the knowledge and resources to help you explore the Sarasota luxury market.

Here are five important tactics to keep in mind when navigating the Sarasota area luxury market:

1. Typical search avenues don't always work. Many high-end properties can't be found through the usual routes -- i.e., national listing portal sites or homes-for-sale publications. Luxury properties often won't have a yard sign either. Make sure you're working with a real estate professional who is well-networked with other real estate professionals because many of the best luxury listings are found by word-of-mouth.
2. Carefully assess the neighborhood. Many of today's high-end properties are the result of over-zealous building in the boom years. We've all seen them -- those "McMansions" that tower over the other homes on the street. Make sure the property you are considering is in sync with other home values in the neighborhood and can maintain its resale value.
3. Check with zoning. When buying a luxury property, your surroundings are usually as important as the home itself. Make sure you're not in danger of another property or commercial building being built too close to yours.
4. Visit more homes in person. While it's usually easy to filter out homes you're not interested in online, when it comes to most luxury properties, photos don't always provide an accurate rendering of the homes. The sheer size and level of detail often involved in such homes can be hard to capture in photos, so make sure to see them live before ruling them out.
5. Assess the relevant properties to determine market value. Once you zero in on the home you like, it's important to evaluate the relevant comparable properties to determine an appropriate offer price. This is easy in a golf course community where most of the homes have similar features. It's not so easy when you look at homes in some of our historic neighborhoods or waterfront locations like Siesta Key and Longboat Key, where every home is NOT created equal. There you'll want the services of a professional who is familiar with that segment of the Sarasota real estate market to help you evaluate the appropriate comparable sales prices.