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364 W Royal Flamingo Drive
Sarasota, FL 34236
$9,250,000
Conventional
Property
Bedroom
4
Bathroom
6
Property Type
Conventional
Square ft
6289
Property Description
This remarkable Bayfront residence is nestled in arguably the best location on the prestigious and highly sought-after Bird Key neighborhood. Custom-built in 2007 by renowned builder Steve Murray of Murray Homes, this masterpiece epitomizes quality craftsmanship, marrying superior design with exquisite finishes. The home’s western exposure with breathtaking sunsets offers sweeping views of Sarasota bay and direct views of Lido Key and Sarasota Yacht Club. On entry you are greeted by soaring 23-foot-high ceilings and expansive walls of glass showcasing spectacular Bay views. The interior boasts a thoughtfully designed open-concept split floor plan blending well-defined and flowing areas. The chef’s kitchen with its expansive 10-foot-long island, flows effortlessly into the family room and informal dining area. The first floor also features a formal living room with natural stone fireplace, formal dining room, a meticulously crafted office/study with quality built-ins, a wine cellar/butler’s pantry, and the luxurious primary suite with terrace access. The walnut staircase or the elevator lead to the second floor, where entertainment awaits in the well-equipped media room and billiards room. The second floor also houses two additional bedrooms with en-suite bathrooms as well as a stunning second primary suite with its sitting room that boasts unrivaled views of Lido Key. Outside, expansive spaces beckon for entertaining, complete with an outdoor kitchen, ample covered seating and lounging areas, a fire pit, and a uniquely shaped 36-foot pool with a spillover hot tub and nighttime colored lighting. A dock with a 16,000 lb boat lift and newer seawall offer direct access to Sarasota Bay. Bay-facing balconies on both levels provide additional vantage points to admire the pool and the stunning bay waters. Additional luxury features include marble and walnut floors, pecky cypress ceiling beams, Lutron automated touch system, and a generator with automatic switchover. The property includes a gated driveway entrance with a double and a single side entry car garages. Living on Bird Key affords unparalleled convenience, with Sarasota’s downtown attractions, Lido Beach, and St. Armand Circle just moments away. Residents also enjoy access to the Bird Key Yacht Club, offering social activities, tennis, fitness facilities, dining, and a marina. Experience the pinnacle of waterfront living in this exceptional residence.
Property Information
Lot Size
-- square ft
Property Type
Residential
Year Built
2007
MLS Number
A4602545
Location
Address
364 W ROYAL FLAMINGO DRIVE
City
SARASOTA
State
FL
Zip Code
34236
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
Yvette Sellyn

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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.