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Longboat Key Foreclosures and Short Sales

About Longboat Key
Situated between Sarasota Bay and the Gulf of Mexico, Longboat Key is a luxurious barrier island with a small population of 7,600. Residents in the area don’t enjoy the hustle and bustle of city-life. They escape it and turn in for its simplicity and small-town charm. They have access to beaches on both sides of the island and can easily drive to the metropolitan areas of Sarasota and Venice to enjoy recreational activities.

Things to Do

Longboat Key is an outdoor lover’s paradise. With Florida sun and beautiful waters, there’s an endless amount of aquatic activities and sports residents can participate in. Whether you like to go for a casual swim on the beach or prefer chartering a boat for deep-sea fishing, Longboat Key has it.

There’s also a spectacular array of fine dining and shopping to do on the island. If you can’t find what you’re looking for, it’s only a short drive away to Sarasota, where there are even more shopping opportunities.

Longboat Key Foreclosures and Short Sales

Why Buy Foreclosed and Short Sale Homes?

A house in foreclosure means the current owner was unable to keep up mortgage payments and is in the process of being repossessed by the mortgage lender. When a house goes on “short sale,” it means the owner is facing the threat of foreclosure and agrees with the mortgage lender to sell the property for less than is owed.

There are several benefits to buying foreclosed and short sale properties. One, is you can buy the house for a bargain price. Usually homes will be priced below market value, and you still have room to bargain. Second, they are great for first-time buyers, since lenders will offer the property for low-down payments. Third, is that it allows you to move into better neighborhoods such as those on Longboat Key. People who weren’t able to keep up with the higher-priced area are now offering a cheaper price tag in order to sell quickly. And lastly, it allows you to build wealth. If you buy a house at below-market value, typically that property will gain value over the years, allowing you to use that extra money to buy a higher-priced house.

Longboat Key Real Estate

Longboat Key real estate offers some of the best property in the Sarasota region. Homes typically range from beach-front estates to luxurious condominiums. Property owners enjoy amenities such as private pools, tennis courts, and waterfront views.

Home features may include:

  • Vaulted ceilings
  • Crown moulding
  • Skylights
  • Solid wood cabinets
  • Outdoor grilling area
  • 2-car garage
Click here for Longboat Key foreclosure listings and Longboat Key short sales

Typical Property Statistics in Longboat Key:

  • 3 Bedrooms
  • 2 Baths
  • Average List Price: $628,135
  • Average Price per Sq.Ft.: $455

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