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If you could buy any condo on Sanibel...

Saint Paul...
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If you could buy any condo on Sanibel...

Where would it be? Share your dream location/complex - or your favorite real-life dream! Maybe I will take hubby shopping in January!

Sanibel, FL
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1. Re: If you could buy any condo on Sanibel...

Gulfside Place Located 1605 Middle Gulf Drive - gulf front upscale complex. Most units are 2/2w/den or 3 bedroom, great views. Can only rent monthly. Sayana or Junonia are more favs because they are gulf front and quiet. Only 8 and 9 units per complex. West Gulf Drive location.

Sanibel Island...
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2. Re: If you could buy any condo on Sanibel...

Zin, fun question. Rainstorm, I like your new, floral avatar. As for Gulfside Place, I like the location and the size of the condos, but most of them are quite a distance from the Beach. Several years ago I was told that the minimum rental period for Gulfside Place was two weeks. Has that changed to a month. The longer rental period greatly reduces the number of quests that have the time and money to rent a Gulfside Place condo. Obviously, I am partial to Sanddollar and feel that we did purchase the condo that we most wanted. Having said that, Chelsea Place, sanibelrealestate.net/communities/… is probably the condo I would purchase, if someone else was footing the bill. There are three condos in the building, one per floor with about 3000 square feet. It is fun to think about, but not very practical, a pleasant digression in an otherwise, mundane day.

Sanibel Island...
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3. Re: If you could buy any condo on Sanibel...

OK, I'm prejudiced. I own a condo on Sanibel and went through this exercise 13 years ago when we were thinking of purchasing. We looked at several complexes at that time.

We purchased a unit in Blind Pass Condominiums for several reasons.

We prefer the west end of the Island.

We liked the size and layout of the units there and believe it is an advantage to many, if not most, vacationers, as we intended to make the condo a vacation rental as well as use it ourselves.

We liked having a unit that could rent weekly.

We liked the grounds, pool, and ability to kayak and play tennis.

We found the price more reasonable for both purchase and rental which we also felt was an advantage.

We totally renovated the unit we bought and did aggressive marketing and have been rewarded with an (average) 84 percent occupancy over the last 5 years.

Everyone will give you different answers on this question as everyone has a different criteria for buying and level of expectation.

Chicago, Illinois
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4. Re: If you could buy any condo on Sanibel...

Family members previously owned at Sayana and Sanddollar and still have a unit at Ocean's Reach. If I HAD to choose one, it would likely be Sayana for peace and quiet, low demand on use of tennis court and pool. But, the view from the lanai at Sanddollar was magnificent and I really like /respect the philosophy of environmental sensitivity espoused at Ocean's Reach as well as the waterfront view for all units there.

Actually, I really enjoyed my stay at Mariner's Pointe last year as well and the prices there are certainly attractive.

Hmmmm...offer me a condo almost ANYWHERE on Sanibel. I'll be on my way in no time!

Edited: 10 October 2011, 19:20
Sanibel Island...
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5. Re: If you could buy any condo on Sanibel...

It would be different depending on what your anticipated usage is and if rentability is a consideration.

One other thing to really think about how well run the complex is- the association can make a HUGE difference to the eventual true cost of ownership. One strategy is to ask a number of Realtors to list what they feel are the five best-run complexes on the island and see what comes up on many lists.

We ended up at Pointe Santo because it passed the association test and is very desirable as a rental. Plus we loved the grounds and the direct, barrier-free beach access.

However if we didn't rent I wold probably look for a smaller complex in the West Gulf area. If rentals are not an issue there are dozens of them.

Edited: 10 October 2011, 20:37
ohio
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6. Re: If you could buy any condo on Sanibel...

I sometimes look at the Zillow listings to see what is available

www.zillow.com/homes/for_sale/Sanibel-FL/

Sanibel Island...
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7. Re: If you could buy any condo on Sanibel...

Our DE brings out a good point and I would add to that determining if the complex has an on site rental/property management office. Our complex does which makes it a lot easier for me as an owner and apparently much easier for my rental guests.

I would take realtor's suggestions with degree of skepticism, though. If a realtor has listings in a particular complex, they well may steer you in that direction. Conversely, if they personally had a bad experience (which could be based on anything at all) they may steer you away.

Your own walk of the grounds, interaction with staff, discussion with other owners and perusal of on line marketing sites can give you a first hand impression of the quality of management, desirability of the complex and communication tools available.

Sanibel Island...
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8. Re: If you could buy any condo on Sanibel...

Fred, thanks for the zillow link. I am familiar with Zillow, but did not realize that it has so much information.

Massachusetts
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673 posts
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9. Re: If you could buy any condo on Sanibel...

This is a tough one for me. I'm limited to condos that allow owners to have 2 dogs. Within and slightly above my price range, I only know of 3: Island Beach Club, Breakers West ( where I own) and Sanibel Arms. Sanibel Arms doesn't have elevators, so that rules it out. The condos are nicer (larger) at Island Beach Club than at Breakers West but we liked the beach and the prices better at Breakers West. I'm not sure what choice we would have made if $ were no object. There may even be much-more-expensive options for us that would be the best for us but that the realtor never showed us because she knew they were out of our price range.

Sanibel Island...
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10. Re: If you could buy any condo on Sanibel...

One thing about Zillow is to pretty much disregard the "Zestimate" of a unit's value. As I understand it it is based on a proprietary algorithm that assigns a value calculated by taking the last selling price and adding a statistical average price change for the region. It does not take into account improvements, usage changes or many other factors that determine current market value. I have looked at the estimated values on Zillow, Trulia and other web sites and the range can be more than 40%!

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