Sarasota Real Estate

The Sarasota area is an attractive market, due in part to Florida's favorable tax laws. Florida does not collect a state income tax, and real estate is a popular investment. Sarasota's location on the coast makes the city a prime market for real estate.

Longboat Key is a prime example of Sarasota's real estate market. Much of the land area of Longboat Key is annexed to homes owned both singly and in condominium. Most of the condominium associations co-own common elements which comprise pools, tennis courts, sites with water views, and access to beaches.

Almost the entire land area of Longboat Key is now occupied. The remaining older, singly-owned houses are as much as 45 years old, annexed to comparatively small parcels, again an outgrowth of the 1/2-acre limitation on homestead property area within municipalities as set forth in the Florida Constitution. In the last few years, these properties have been purchased by new owners who sought to and did demolish them in order build small, ornate homes worth much more, many being valued to amounts on the order of as much as a few million dollars, a peculiar outgrowth of the unlimited-in-value homestead exemption for principal residences from forced sale provided to homesteaders under the Florida Constitution. This diverse mix of homes owned both singly and in condominium line the many cul-de-sacs and boulevards branching off main roads towards both the bay and the gulf, with the length of the island served by Gulf of Mexico Drive.

Information from Wikipedia was used in this article.

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