Purchasing or selling your home is one of the biggest transactions of your life. For that reason it’s very important to get it right. Statistics show using a National Realtor will minimize physical, mental and fiscal pain. That moves you into at least a 50-50 shot that your real estate professional will maximize your equity purchase or sale. See the 8 questions below to help find the top 5% real estate sales professionals on Anna Maria Island. By the way – you guessed it, all my answers are yes except for #8. It may sound corny but Real Estate is my life…See below, I hope the questions help! Email Larry.
#8) Is Real Estate your full time job?
#7) Is your office open 7 days per week?
#6) Is your office on Anna Maria Island?
#5) Do you live on Anna Maria Island?
#4) Do you own on Anna Maria Island?
#3) Do you have your own website?
#2) Can I find your website by typing Anna Maria Island Real Estate?
#1) Do you hold any leadership roles in the Anna Maria Island Community?
As if the real estate industry is not hurting enough, the Environmental Protection Agency (EPA) just made it a little
Lead Guidelines
tougher for property investors all across the United States. The EPA has enacted a guideline in section 402 (c) (3) of the Toxic Substances Control Act (TSCA) that requires qualified contractors to work on property constructed prior to 1978.
The TSCA focus much of their attention on lead-based paint hazards that are created by renovation, repair, painting activities, etc. The new guideline is set to go effective April of 2010. The targeted housing is mostly related to children facilities as well as Commercial buildings constructed prior to 1978. Unfortunately there is one other area that is affected that plays a very large part of Anna Maria Island Real Estate. Buildings which are planned to be leased require a certified trained general contractor. This of course correlates to larger costs for Anna Maria Island property investors.
If you plan to paint very small areas of your Anna Maria Island investment property then you are probably fine. Check the guideline to be sure at last check it was 6 square feet per room. So the bottom line, if you are planning to purchase an investment property that will require significant renovation, plan to rent it and was built prior to 1978, then be sure PRIOR to purchasing you receive a few quotes to be sure your renovation doesn’t cost significantly more than you planned. The extra cost is yet to be determined but keep it in mind.
For more information on the exact language used by the EPA visit the informational page on this new guideline. Of course if this all seems overwhelming then please feel free to contact me for more information. I would love to help find your “peace” of paradise on Anna Maria Island, Bradenton, Sarasota or Longboat Key or just answer a few questions. For that matter contact me for any Florida area as my work with the best of the best Real Estate professionals in the Florida Leadership Academy will allow me to refer you to someone that will be sure to help!
Anna Maria Island real estate saw an average year of transactions. Inventory dropped to 500 properties which depending on which statistics you review is about 10% higher than normal. Bank related real estate for sale continues to be around 5 -8% of our total inventory which continues to be much lower than the nation wide average. Since 2006 an average Anna Maria Island property has lost an estimated 25-30% of their value. The great news for Anna Maria Island is over time the value of our properties appreciate at 10%. Supply and Demand is what drives prices so this entry focuses more on inventory changes as compared to 2008. More charts of Anna Maria Island real estate statistics will follow to show 2009 results. Stay tuned and review the inventory statistics below.
Below is Anna Maria Island real estate inventory as it stood the end of the calendar year 2009.
Anna Maria Island Inventory
Compare the breakdown of 2009 inventory to 2008 inventory and you see there is not much of a change.
Anna Maria Island Inventory - 2008
So lets talk details… Anna Maria Island Condominiums for sale in 2008 was 213 and at the end of 2009 the total condos for sale was 181. Anna Maria Island single family homes for sale at the end of 2008 was 263 and 2009, 242. Anna Maria Island Multi-families for sale for 2008 was 48 and the end of 2009 was 37. Vacant lots for Anna Maria Island went up by one to 38 for 2009.
As you can see, the Anna Maria Island real estate market saw a healthy reduction in inventory for sale. In total about a 10% reduction in real estate inventory for sale. A nice reduction when the rest of the nation has gained real estate for sale. The information above was taken from MLS. If you have further questions don’t hesitate to call.
I continue to be amazed at all the Anna Maria Island Real Estate companies stating they have the best services on Anna Maria Island. How can everyone say they have the best services? Everyone has the best sales people, everyone uses the highest degree of ethics, everyone supplies the best real estate services. In my opinion, talk is really cheap.
So how does the public differentiate between cheap talk and a results oriented Anna Maria Island Real Estate company? The first step is to recognize quantitative versus qualitative results. Qualitative results are warm and fuzzy. A great qualitative example, ” Our office uses the highest degree of ethics when selling your Anna Maria Island
Anna Maria Island Real Estate
property.” So what does this really mean? Does this statement confuse action with results? You bet it does.
So now that you know what to look for lets talk quantitative results and lets talk action that creates results…
Island Real Estate is the only Real Estate office on Anna Maria Island that is open both Saturday and Sundays. Do you think our office being open 28% more than the rest creates results?
Island Real Estate averages 30,000+ visitors per month on our website. Depending on the month more than 25% of those visitors are from Europe. Do you think Island Real Estate has a better chance of selling your home compared to most real estate companies that have 5000 visitors in a good month?
Island Real Estate displays between a half page and full page of our listings every week in a local newspaper. Island Real Estate consistently takes out the largest ads in our local newspapers. Do you think displaying your real estate listing consistently in local newspapers creates more opportunity to sell your home?
Do you think an office that sells twice as much as its closest competition has a better chance of selling your property?
Quantitative results NOT qualitative!
Island Real Estate’s closest competition on a bad month has half the transactions we see.
Hopefully I have helped create some quantitative statements that help you work through the “bull” of everyone claiming they have the best real estate service on Anna Maria Island. If you have any doubts who supplies the best service focus on quantitative results and when all else fails, Call Me and we can discuss specifics. Better yet, just try to call your top pick offices at about 4 PM on a Friday, Saturday or Sunday. When no one answers give Island Real Estate a call (941) 778-6066.
I look forward to helping you sell or purchase your “peace” of paradise on Anna Maria Island.
I decided that a listing we have had needs a little more visibility because potential investors are not aware of the potential. I had the good fortune of showing this property to a potential buyer and upon the showing he asked…”How long has this been on the market? Am I missing something? “There is no question that the curb appeal could be much better. It is a duplex ONE HOME to the beach with a GULF VIEW that should never be lost. Sure the Gulf Front home in front of this property could raise the roof to a second floor and 1/3 of the Gulf view would be lost but 2/3 of the view down 34th will remain! The duplex is a two bedroom one bath on each side and with some interior work, tropical landscaping, roof top terrace and a pool, this duplex would generate some serious income. They say a picture is worth a thousand words so I have attached a picture below that shows the proximity to the Gulf of Mexico. The value in this duplex is the proximity to the beach AND two units in the building. The property is a SHORT sale and currently listed at $679,000. Please call me for more details and I would love the opportunity to help. The property is listed with Alan Galletto at Island Real Estate of Anna Maria Island, Inc. 6101 Marina Drive, Holmes Beach, FL. Email me for additional information.
Sorry – Currently this duplex is PENDING. Email or call for more information. (941) 345-1288
La Casa Costiera is a phenomenal Anna Maria Island luxury condominium Gulf Front complex. La Casa Costiera has
Gulf Front Resort
essentially three buildings and two ground level condominiums which are Direct Gulf Front. The two Holmes Beach ground level properties have a spiral stairway to the roof which offers a perfect view of the Gulf of Mexico as well as early evening Anna Maria Sunsets.
The second building offers Direct Gulf Front views from the living areas as well as the covered patios. The covered patios have seating as well as high top tables and chairs perfect for relaxing at the Gulf.
The last two buildings are located towards the back of the property and all condominiums have views of the Gulf with phenomenal covered patios. These two buildings overlook the heated pool area, the spa and a vineyard terrace that houses dining tables as well as a community propane barbecue grill and charcoal barbecue grilling fireplace.
All La Casa Costiera properties have two bedrooms with a den or three bedrooms. Wet bars are included in the living areas. High end kitchen appliances, ceramic cook tops, plenty of televisions, DVD’s, Surround sound stereo, outdoor patio speakers, and many more amenities.
If you are interested in a Luxury Gulf Front three bedroom vacation rental on Anna Maria Island then look no further. The La Casa Costiera complex located in Holmes Beach on Anna Maria Island is the perfect resort for an unforgettable tropical vacation. See links below for more information on the properties Island Real Estate Vacation Rentals offers.
While the macro economy started turning a corner in the second quarter, Anna Maria Island continues to wonder what all the hub bub is about. Let’s first discuss some banking statistics then move to our little “peace” of paradise.
Per government regulators the amount of United States banks that shut down in 2009 was triple the number that failed in 2008 calendar year. The majority of the banks that have failed in 2009 were smaller, regional banks. Of course the Federal Deposit Insurance Corporation (FDIC) covers limited losses to consumers and CNN reported the FDIC has paid out $446 Million in 2009.
The FDIC still has plenty of money although they estimate in the next five years they will pay out more than 70 billion due to the failure of various financial institutions. So far the FDIC has used 20% of their reserves in place.
Anna Maria Island continues to see average transaction years although the rest of the country has not quite caught up yet. So why all the talk about the National Banking situation. Well our “peace” of paradise has been affected by banks providing money for loans on real estate. Single family homes on Anna Maria Island as a primary or secondary property is no problem in regards to finding money from large or small banks. Condominiums as well as Condo-Hotels are another story. A Condo-Hotel is a property that rents nightly or has a staff member on the property to provide accommodation services.
So why bring this up? Some condo prices continue to slip due to the difficulty buyers are having regarding borrowing money for condos. If you have CASH you can pick up some phenomenal condominium deals on Anna Maria Island. Take Palm Isle Village Resort for example. Pick up a two bedroom that grosses more than $35,000* per year in rental income for less than $350,000! Unbelievable! Give me a call for more Condo investment deals!
Anna Maria Island Square Foot Trends
The above chart shows a continue slippage in square foot values for single family real estate. Keep in mind that Anna Maria Island has seen a disproportionate number of smaller single family properties sell which is adversely affecting the average square foot values. I do have limited statistics that shows more regarding the degradation of square foot values so please give me a call so I can provide more accurate facts regarding the specific area on Anna Maria Island that you are researching.
Anna Maria Island Real Estate for Sale Inventory
Inventory continues to drop and is actually at its lowest since 2005. Of course as supply drops and demand increases our prices will continue to level out and we are seeing a similar affect for single family homes. If you are in the market for an investment property give me a call. Banks are beginning to loosen up their lending and several are supplying real estate money for 30% down and in a few months that will free up more to a standard 20% down.
* By no way are rental proceeds guaranteed and should not be considered to be guaranteed.
Palm Isle Village located on Anna Maria Islandis a fantastic resort located less than one block to the wonderful sandy beaches of the Gulf of Mexico. The unique cottage designs offer Gulf views from the widow watches that perch above the roof line of the resort and offer a glimpse into Anna Maria Islands million dollar sunsets. Palm Isle Village Resort amenities has single handily re-established the benchmark for Anna Maria Island’s vacation rentalindustry. The resort has even made news on Flickr where several pictures of the Widow Watches and exterior architecture has been spotlighted on the web
Using 2008 rental income both one and two bedrooms can be owned for less than $300 per month. Amazingly this analysis includes all anticipated costs for owning a Palm Isle Village cottage. This analysis INCLUDES debt service! * One Bedrooms start at $299,000 and two bedrooms start at $349,000. The average rental income for a 2 bedroom in the resort is $39,000 and a 1 bedroom is $34,000. Wow!
For more information on Palm Isle Village Resortplease call me and I would be happy to provide more information as well as pictures regarding Palm Isle Village. (941) 345-1288 If you are interested in renting out a Palm Isle Village cottage please visit Anna Maria Islands premier vacation rental service.
* The estimate of costs on a monthly basis have several assumptions. While most assumptions are deemed reasonable I ultimately suggest you call for details of our analysis and ensure your specific financial situation meets assumptions already made by consulting with your Certified Public Accountant
Fabulous Gulf View condo just reduced to pre-construction pricing for this post-construction Gulf of Mexico property. The turnkey furnished Luxury Condo is more than 2,400 Sq Ft which is larger than most homes! The home is part of a two property condo complex. Just Steps to the gorgeous Anna Maria Island Beaches and all the amenities of a very large private home. This 3BR/3.5BA residence has an individual foyer, elevator, PRIVATE pool with fountains, privacy fence, hurricane pkg beyond current code, lush tropical landscaping, sprinkler system, distinctive finishes throughout, and much more. The home is already a rental machine with Island Real Estate of Anna Maria Island Inc. Please note, 4 BR/4BA is also offered at more than 3,000 sq ft for $995,000.
Property listed with Island Real Estate of Anna Maria Island, Inc. Call, email, or visit our website for more information.
We continue to see signs of the housing turn around. It appears as though the first time home buyers credit of up to $8000 is beginning to take hold. Construction starts in United States for the month of June jumped 11% as compared to the month of May. The last four out of six months, housing starts have been up. It doesn’t hurt that home builders are in a rush to finish homes by November for their buyers to take advantage of the first time home buyer tax credit.
Our little Anna Maria island there are not many folks taking advantage of the first time home buyers incentive. Most feel as though Real Estate resort areas LEAD the market. I would hope everyone agrees that Anna Maria Island is a resort area. So, if the rest of the United States Market is moving out of the housing slump then it is investors are too late for Anna Maria Island’s low. I believe our little Anna Maria Island is a resort area and is a LEADING indicator for home sales information.
Absorption rates of real estate is a very important indicator. Nationwide our absorption rate moved down from 10.2 months of real estate inventory for sale to 8.8 months. (Source CNBC) Investors are entering the market due to low interest rates and fantastic real estate buys.
Below you will find Quarter 2, 2009 Anna Maria Island Real Estate inventory absorption chart. This shows the past number of years of inventory we have had on Anna Maria Island. The most important aspect of the chart below is the blue line which shows the amount of inventory on the island by quarter. It is an absorption figure which shows number of months of Anna Maria Island property for sale. It is a simple calculation. If there are 500 properties for sale and for the past quarter we averaged 50 properties sold per month then our inventory absorption is 10 months or there is an equivalent of 10 months of inventory on hand. The most important part of the chart below is our absorption level relative to previous periods of time.
This chart is property of Island Real Estate of Anna Maria Island and Alan Galletto and should not be duplicated.
WASHINGTON – Construction of new U.S. homes rose in June to the highest level in seven months as builders rushed to pour foundations for homes that must be completed by the end of November for first-time buyers to take advantage of a special tax break.
The Commerce Department said Friday that construction of new homes and apartments jumped 3.6 percent last month to a seasonally adjusted annual rate of 582,000 units, from an upwardly revised rate of 562,000 in May.
It was better than the 530,000-unit pace economists expected, and was the second straight monthly increase after April’s record low of 479,000 units.
Learn more about Larry Chatt Island Real Estate of Anna Maria Island, Inc.
Office Phone (941) 778-6066
Cell Phone (941) 224-4072
Alt. Phone (941) 345-1288
Fax (941) 778-6306
Email - Larry Chatt
6101 Marina Drive, Holmes Beach, FL 34217
