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486 E Royal Flamingo Drive
Sarasota, FL 34236
$2,995,000
Conventional
Property
Bedroom
3
Bathroom
3
Property Type
Conventional
Square ft
3854
Property Description
Under contract-accepting backup offers. Immerse yourself in the epitome of luxury living in this exceptional 3BR/3BA, plus study, 3,825+/- sq. ft. residence on Bird Key, the very epicenter of Sarasota and an unparalleled location that defines exclusivity. Upon approach, the property exudes grandeur, boasting a majestic façade with a barrel tile roof and a paver circular driveway embraced by lush tropical landscaping. Rarely found in the area, the three car garage stand as a testament to the uniqueness of this property. Enter through the double doors to a foyer that unveils a masterpiece of style and design. Large ceramic tile floors, high ceilings with architectural tray details and recessed lighting create an open, airy feel, while the open-concept floor plan is adorned with fine touches and appointments at every turn. The beautifully configured kitchen opens seamlessly to the great room, featuring a large breakfast bar/island, top-quality stainless steel appliances, a gas range, tile backsplash and an abundance of counter space. The dining area effortlessly merges with the lanai, creating a harmonious flow between the interior and exterior spaces. The primary suite is a showcase of spaciousness and elegance, boasting a sitting area, a wall of windows overlooking tropical foliage, his and her walk-in closets and an expansive, refined primary bath with a spa tub, dual vanities, a dressing area and a beautifully tiled walk-in shower. Upstairs, the guest accommodations provide ample space, comfort and privacy for family or visitors. The great room, featuring a fireplace and a wall of pocket sliders, seamlessly connects to the spacious lanai—an outdoor haven resembling a private tropical oasis, where two elegantly designed covered areas, including a summer kitchen, make this space an ideal setting for entertaining guests al fresco. Facing west and south, pool area is a serene retreat, complete with a sunshelf, a spa with a bubbling fountain, and a fire feature—all embraced by tropical foliage for ultimate privacy. One of the most treasured neighborhoods in the region, Bird Key offers residents the best of all worlds, just moments from the shopping and dining venues of St. Armands Circle, the sun-kissed shore of Lido Beach and the many attractions of downtown Sarasota.
Property Information
Lot Size
-- square ft
Property Type
Residential
Year Built
2014
MLS Number
A4595938
Location
Address
486 E 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
Bruce Myer

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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.