Foreclosure for Sale at 2885 POPLAR STREET, SARASOTA, FL 34237

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Foreclosure: 2885 Poplar Street
Sarasota, FL 34237

Stephan Scalera with RE/MAX ALLIANCE GROUP, original listing - (941) 758-7777

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Property Details

List Price:	$299,900
Beds:	2
Baths:	Full: 2
Status:	Active
SqFt:	1411 Square Feet
Agency:	RE/MAX ALLIANCE GROUP
Agency Phone:	(941) 758-7777

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Description/Comments

Lot Size:	0 acre(s)
Property Type:	Residential-Single Family Residence
Year Built:	1955
Notes:	Incredible Value in the Heart of Sarasota. This is a 1955 classic floor plan featuring 2 bedrooms, 1.5 bathrooms, and 1411 sq ft. As you pull up to the house, you will notice a nice circular driveway and an attached carport so you will always have plenty of room for parking. The front door opens into the living room with large windows for lots of light. The kitchen opens up to the dining and family room. All bedrooms are on the left side of the house and have new carpet. The den which is located off bedroom 2 has the potential to become an office, flex room, or 3rd bedroom. It has its own entrance from the family room and offers a way to add value to this floor plan for the right buyer. The roof was replaced in 2020 and the HVAC and water heater were replaced in 2019. There is a screened lanai and fenced backyard that is perfect for entertaining or relaxing. This is a great Central Sarasota location with easy access to downtown Sarasota, Sarasota Memorial Hospital, Sarasota beaches, and all area amenities Perfect for first time buyers or anyone looking for an affordable home in Sarasota. Easy to show! This property requires special servicing. For the first 20 days, the property is to be marketed to owner occupants only. During this period, the buyer must be willing to sign an owner occupancy disclosure. After 21 days on the market, investors are eligible.
MlsNumber:	--
ListingId:	A4645645

Listing Provided By:	RE/MAX ALLIANCE GROUP, original listing
Phone:	(941) 705-2827
Office Phone:	(941) 758-7777
Agent Name:	Stephan Scalera
Disclaimer:	Copyright © 2025 Stellar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

HUD Foreclosures

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.

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.

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Property Details

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Description/Comments

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HUD Foreclosures

Foreclosure Listings Increasing