When the North American housing market collapsed in 2008, Florida turned into foreclosure alley. With the loonie riding high against the U.S. dollar, housing prices in free fall and Canadian bank branches blooming all over the Sunshine State, real estate–savvy, vitamin D–deprived Torontonians smelled opportunity. Great bargains and warm weather aren’t the only reasons Florida is turning into Toronto South: the recent buyers we talked to discovered there’s much more to the state than strip malls, track suits and theme parks.
SARASOTA vs other parts of the FL
January 4, 2011 at 9:49 am | by MOThis is a perfect example of how buyers get mislead about the FL market. The steals are only in certain areas.
Bonita Springs is south of Sarasota and close to Fort Myers
The Sarasota area is so much nicer !!!
These are the type of articles that bring Torontonians down to places like Sarasota in hopes to finding a steal. They are uneducated on the Sarasota market.
They are just disappointed when they see what their $65,000 will get them here.
Yes, I agree with the last comment. We were down over the holidays looking for properties. My wife and I fell in love with Sarasota. It has 50 miles of pristine beaches, arts, culture, a great downtown and wonderful restaurants. We found a wonderful ” deal” priced at $ 260,000.
January 4, 2011 at 11:17 am | by Joe SmithIf I was a smart Chinese real estate agent, I would sell these properties to rich successful business men in China. This IS the AMERICAN DREAM for real!
January 4, 2011 at 7:19 pm | by food for thoughthmmm the 65,000 deal looks like a condo.. the fees aren’t cheap as we were all caught up with this fascination last year when it was really getting bad for them. We’ve decided why do I wan’t to put all my money (that I don’t have) in a spot a couple thousand miles away when I can go to Florida for a few months and rent a home or condo for less than what I’d be paying in condo fees for a year! Not to forget the tax implications. I don’t think I would want my kids to be putting up with this stuff after I’m gone. What good is that?
January 5, 2011 at 8:56 am | by hilda“Beauty is in the eye of the beholder” Our place is in Bonita Springs right on the Gulf. It is much less crowded than Sarasota and has all the amenities that Sarasota has and then some. The airport is only a 15 minute drive with several non-stops from Toronto daily. There are great restaurants, and all sorts of activities all close by. Shopping is wonderful. We have been living in this area for 30 years and think it is just a little piece of paradise.
January 7, 2011 at 8:21 pm | by NWWhat a bunch of hosers.
January 7, 2011 at 10:29 pm | by IConICE