About Sarasota's Downtown Sarasota

There are so many reasons to live in Downtown Sarasota and the Bayfront Park and Marina is just one of them. Open to everyone, the Bayfront Park offers something for everyone. Beautiful vistas at every turn, a place to spend leisure time, a place to enjoy a variety of activities and sports, have a drink, enjoy a great meal, a place to just get away from the hustle and bustle of life. The entrance to this lovely park features a iconic arch. Once you have passed through this welcoming arch you are able to take part in everything the park has to offer.

Sarasota as a city welcomes diversity and you will see people of all ages and walks of life partaking in a wide variety of activities. There are families with children, retirees, dog walkers, joggers, sunbathers, bicyclers, artists, fisherman and fisher-women, picnickers, During the month of April, the park features the inspiring art of Embracing Our Differences with the entrys of children locally and from all over the world.

All of this is conveniently located on beautiful Sarasota Bay at the base of Downtown Sarasota's beautiful skyline. . There are convenient sidewalks, fountains (including an interactive fountain for children), sculptures, benches, swings, boat rentals and charters available (you can take a sunset cruise for under $20 per adult).

There are even two restaurants to explore. Marina Jacks dockside is a Sarasota institution offering enclosed and outdoor dining overlooking the Marina. O'Leary's Tiki Bar and Grill is a relaxed place to get a quick bite to eat or a refreshing cocktail and enjoy the delightful weather and water views.

A first time visit to the park would not be complete without taking a few moments to check out Sarasota's most talked about sculpture, "Unconditional Surrender" a super-sized version of a photograph by Albert Eisenstaedt titled V-J Day in Times Square. The sculptor is Seward Johnson. You can usually spot a grouping of visitors to the area taking turns having their pictures taken under the statue.

There are condos in Downtown Sarasota starting in the $100's and going well up into the millions. There are also a limited number of single family homes and ,of course. apartments. For urban living in a delightful city setting, you cannot do better than Downtown Sarasota.

With dozens of shops, restaurants and art galleries coupled with the many special events that take place each year, Downtown Sarasota has much to offer to those who enjoy an active lifestyle. Thanks to the diverse selection of Sarasota condos, which range in price from $300,000 to millions of dollars, those who are interested in calling Downtown Sarasota home have many options to select from. Three of these condo communities include Vista Bay Point, Sarabande and Renaissance.

For those looking for a stylish and luxurious condo community offering expansive floor plans, Vista Bay Point is a good option. Situated at the entrance of Golden Gate Point, Vista Bay Point offers gorgeous views of the city, the Bay and the Gulf. Popular attractions such as Downtown Main Street and Siesta Key Beach are only minutes away, while each of the seventeen units features 3 to 4 bedrooms and 3,000 to 3,500 square feet of living space. Some of the gated community’s amenities include a heated pool and spa, a state-of-the-art theater room, a well-equipped athletic center and more.

Sarabande is another condo option that offers gorgeous views of the Bay and Gulf. Situated just across the street from Marina Jack, Sarabande is located just around the corner from numerous galleries, restaurants and boutiques. Sarabande amenities include a 25 meter lap pool, a media room, secured garages, a well-equipped athletic center and more.

When it comes to beauty coupled with variety, Renaissance is a great option. This 16-story condo complex features 244 luxury units offering views of the Bay, the Gulf of Mexico or the Arts and Culture District. Situated on 11 acres of land next to Alinari at Rosemary Place, the master-planned condo development features 1, 2 and 3-bedroom units with private balconies. Some of the amenities found at Renaissance include a resort-style pool, a private health club, a library, a two-story entertainment room, massage rooms and more.

These are only a few examples of the many Downtown Sarasota condos available throughout the area. With dozens of condo communities available to select from, anyone who is interested in living in the Downtown Sarasota area is sure to find a condo to suit their lifestyle and budget. Want to live closer to the beach? Lcoated just 10 minutes from downtown, Longboat Key condos offer a diverse selection of condominiums to suit almost any budget.

Loans for Commercial and Multi-Unit Properties in Sarasota County Florida

The process for obtaining a Commercial Loan begins with the entry of an EXECUTIVE SUMMERY FORM.

The form covers several important areas of information that are used to conduct a search of available lenders and their Rate and Terms for a particular loan type.

1) Contact Information

2) Property Description

3) Additional Collateral

4) Borrowers Desired Loan Terms

5) Personal Information Via Resumes, 1003's and Financial Statements for all borrowers

6) If it is income producing then a Rent Roll or Profit and Loss Statement is needed

7) Credit Files all borrowers

8) Property Appraisal

9) Use of Funds Statement

10) Transaction Description and Exit Strategy

The Pro's and Con's of FHA/VA/USDA Home Loans In Sarasota Florida

If you want a loan with a No Money Down Option then you must be a veteran or you must purchase a home in a HUD Approved Area for Rural Housing. The VA and USDA Loan are the only type loans that offer the No Down Payment Option for buying a home.

The FHA loan is the most popular type loan at this time because the down payment requirement is only 3.5% compared to the Conventional Loans which require 5% down. Both require the added cost of Mortgage Insurance any time less than 20% down is used.

The VA and USDA Loans do not require mortgage Insurance but have a funding fee that is financed into the loan. The USDA funding fee is currently 3.5% but expected to rise with the growing number of defaults. The VA funding fee varies and is determined by the veterans DD214 and Certificate of Eligibility.

Here is a snap shot of the type client that may choose one of these loan types.

VA Loan - An active member or a former member of the armed forces.

USDA Loan - A person living in or wanting to buy a property that resides in an area that typically has under 10,000 other residents.

Conventional Loan - A person with clean credit and 5% or more saved for the down payment of their new home.

FHA Loan - A person with past credit issues that have been resolved in the last year who does not have any money saved for a down payment but who has a relative that will give them the money to put down and/or co-sign on the loan for them.

The Interest Rates on all of the above mentioned loan types are at their lowest levels in the past 100 years. Some are opting for the 5 year arm which is fixed at 3% for the first 5 years of the 30 year loan term. Many of whom plan to refinance or sell the property within the next 5 years.

Senior Home Loan Originator Jim Poole

NMLS #351358

Non-Occupying Co-Signers Are On The Increase for Purchase Transactions In Tampa

Non-Occupying Co-Signers - FHA allows a direct family member to Co-Sign with the buyer and still live at another property even if it is located in another State. This allows individuals who are directly related to buyers with high Debt-To-Income Ratios to Co-Sign and add additional income to the application in an effort to bring the ratios in-line with the lenders guidelines.

The Non-Occupying Co-Signer can also gift the buyer the money for the down payment or simply pay it out of their own funds.

A Non-Occupying Co-Signer has been a popular sales tool for my Realtors who cater to younger first time buyers who's incomes are still fairly low but who's parents are more then happy to help their children qualify for their first home.

The Non-Occupying Co-Signer is not allowed on the FHA 203K rehab loan.

The Non-Occupying Co-Signer can be dropped from the loan via refinancing the home back into the buyers name in as little as 1 year.

The increase may be a result of me and my Realtors marketing it more to our clients; but it has helped me get loans for 2-3 clients per month for the last year that otherwise would not have qualified for a home loan.

Sellers are still allowed to contribute up to 6% of the purchase price towards buyers closing cost.