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1655 South Drive
Sarasota, FL 34239
$5,695,000
Conventional
Property
Bedroom
5
Bathroom
9
Property Type
Conventional
Square ft
6355
Property Description
One or more photo(s) has been virtually staged. Located in one of the most sought-after West of Trail neighborhoods in Sarasota, Cherokee Park, encounter a testament to a bespoke luxury lifestyle, with every detail considered for an exceptional living experience in this extraordinary 5BR/5 full BA & 4 1/2 BA residence, offering 6,355 sq. ft. of meticulously designed space. Set on a lot 15’ above sea level with hurricane impact glass and a whole-home generator, this 3-story gem features a unique design with a rear 3-car garage accessed from South Lodge Drive, keeping the front of the house unobstructed. The first floor boasts a wide-open floor plan with a great room, wet bar, formal dining room and Gourmet Cooks Kitchen complete with a Wolf six burner range with dual ovens, Sub-Zero 48” refrigerator and 48” freezer, Wolf microwave drawer and a built-in Miele espresso machine. A sanctuary of comfort, the 1st floor primary suite includes a private gym, resort-style bath and dual custom-fitted closets. Also on the 1st floor beautifully designed guest suite (5th bedroom) with an en-suite bath. Access to the 2nd floor is provided by both a sable wood stairwell with custom wrought-iron railings or one of the two in-home elevators. Upstairs, 3 en-suite bedrooms with custom-fitted walk-in closets, one of which is equipped with built-in bunk beds, a bonus room with 2 built-in desks and an additional upstairs laundry room add to the functionality and convenience. The outdoor area is a true oasis, fully walled-in with an electric gate. You'll enjoy a gas heated saltwater filtered pool with a sun shelf and spa, an artificial turf area and an automatic recessed roll-out pool cover. A screened-in entertainment lounge area includes a half bath that leads to a full outdoor kitchen with sink, TV, gas grill and a built-in pergola with electric heaters and cooling misting system. Perfect for guests or an adult retreat, the casita above the garage is accessed by a private interior elevator and an exterior spiral staircase and displays a 2,000-bottle refrigerated wine room, fully equipped wet bar, mini- fridge, clear ice maker, dishwasher, covered terrace with gas fireplace and private large pool-like infinity-edge spa. Only two blocks to Southside Elementary, walking distance to Southside Village and Sarasota Memorial Hospital, and a short drive to Downtown and the world-famous white sands of Siesta Key Beach. *The 2 additional kitchen photos shown are virtually renovated to propose an updated look.*
Property Information
Lot Size
-- square ft
Property Type
Residential
Year Built
2011
MLS Number
A4584482
Location
Address
1655 SOUTH DRIVE
City
SARASOTA
State
FL
Zip Code
34239
County
SARASOTA (CITY)
Listing
Provider
Coldwell Banker, original listing
Name
Coldwell Banker
Phone
(813) 754-3586
Office Name
COLDWELL BANKER REALTY
Office Phone
(941) 383-6411
Agent Name
Ryan Ackerman, PA

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HUD foreclosures and VA Foreclosures are some of the best homes to buy when price is part of the equation. As with most Americans, price is always a concern. If not buying the same house for less, why not buy more house for the same dollar invested? When looking for a good deal it is hard to do better than the VA or HUD foreclosures market. The simple truth is that there are just more VA and HUD homes on the market, as they represent such a large number of mortgages that are generated each year. This translates into more foreclosures just by the magnitude of difference between all others comparing to the two largest. The two largest also being government owned and operated means that they have less time to wait to make money back on the home. The FHA is especially known for selling HUD homes for less than the average sales price in a given area. FHA foreclosures represent a fraction of HUD but they are still a significant number of homes and both should be considered. VA (Veterans Administration) and HUD (Housing and Urban Development) have different and unique opportunities for the buyer. Both are often forgiven for the local taxes normally associated with the purchase of a home (this is on a county by county basis). Be sure to ask the local title company or escrow company to look into it for you before closing as this is often missed due to their are not used to dealing with the 2 to 3 percent of the market that VA and HUD foreclosures represent.

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Foreclosure Listings Increasing

As the market settled after the mortgage meltdown foreclosure listings also settled and fewer homes were on the market with a placard reading “Bank Foreclosure” in big red lettering. This was a good thing for the entire real estate market. Having an abundance of foreclosures brings the entire market down and it makes it harder for home owners, who would like to move, to get the appropriate price for their home as a similar home down the same street was sold for substantially less and the appraiser is using the foreclosure as a comparable sale. This is just one of the problems when there are too many foreclosure listings in any area. Another issue is the television set that sits in everyone’s living room harping about the price of homes based on the number of foreclosures and this constant barrage of negative information makes most people sit on the sidelines waiting for the market to either implode completely or to correct itself. Meanwhile while they wait, others are buying foreclosure listings and making great investments. Whatever the reason, a market can only handle so many foreclosure listings at any given time. The more foreclosures, the lower the market gets and this is a lesson the banks that were foreclosing and selling off realized too late. The market and their investments would have been better off if there had not been a rush to divest themselves of the toxic assets made more toxic by their own actions.