Anna Maria Real Estate

 Anna Maria Island real estate has been bucking the national real estate trend for many months now.  The number of transactions for 2009 was an average year for Anna Maria Island and 2010 was a banner year for the island real estate.  Most importantly, Anna Maria Island real estate for 2010 saw a jump of 30%+ real estate transactions as compared to an average real estate year.  2011 is off to the same start as 2010 with almost 125 transactions so far for the fiscal year according to our multiple listing service.

This means that the month of April saw almost 50 real estate transactions with more than 75 properties still in a pending mode so the back log of contracts on hand is healthier than usual.  The reason I pay so much attention to transactions is that I feel it is the demand side of the macro real estate market for Anna Maria Island.  Appreciation for real estate is simply based on Supply and Demand.  The number of transactions for Anna Maria real estate are consistently 30% above an average year.  So demand is very strong.  Supply which is number of properties for sale is actually at a 5+ year low.  Now for the most important indicator of real estate health.  How is supply and demand as they relate to each other and more importantly how does that metric relate to the past.

Below is that very chart.  The key points; real estate inventory is at normal historical levels.  The demand however is very high therefore making the number of months on hand very low and correlating back to levels of real estate crazy years in 2005.  Please don’t get me wrong, this is not a license to go out and buy whatever is on the market.  It is more important than ever to choose a great real estate professional that will educate you on our market and provide the pro’s and cons of each property as it relates to your expectations.  Take a look at the chart below and as always call or comment with questions.

Anna Maria Real Estate Absorption rate

Wall Street Journal

 deal of Anna Maria Island Real Estate transactions.  While I am unaware of the exact percentage of vacation rentals on Anna Maria I estimate nine out of ten real estate buyers request rental income estimates prior to purchasing.

The article basically explains how investment property transactions are on the rise and in some areas they are seeing minimal appreciation.  Anna Maria City, Holmes Beach and Bradenton Beach are great examples of the trends the Wall Street Journal is writing about.   Anna Maria Island saw about 235 transactions in 2009 and in 2010 we say 317.  This data comes from MLS.  So, the island has seen a 38% increase in transactions as compared with 2009.   Even more impressive is when you take into account an average transaction for Anna Maria Island is around 230 transactions so 2010 frankly was a fantastic real estate year.

The law of economics talk about supply and demand.  Supply is much lower as compared to the height of inventory for sale on Anna Maria Island.  Anna Maria saw around 900 + properties for sale while we finished 2010 with just over 500 properties for sale.  Supply is low and our Anna Maria Island transactions are way up.  Most analysts would agree that as number of months of inventory for sale is a leading indicator of appreciation of property for sale.

For more information on the Wall Street Journal article visit here.  As always, if you have any questions regarding Anna Maria Island Real Estate send me a note or give me a call.

Anna Maria Island Real Estate Services

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?

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! 

Check renovation costs

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.

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.

Larry Chatt (941) 345-1288 or Email me.

Great Deal on Holmes Beach Duplex

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

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.

La Casa Costieria #1 – For Sale information – Vacation Rental Information

La Casa Costiera #3 – Holmes Beach Vacation Rental information

La Casa Costiera #6 – Anna Maria Island Vacation Rental Information

La Casa Costiera #7 – Real Estate for Sale Information – Luxury Beach Vacation Rental

La Casa Costiera #8 – Holmes Beach for Sale information

La Casa Costiera #9 – Anna Maria Vacation Rental Information

Banks still holding on to money

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.

Floor Plan

based photography enthusiast website. Take a look at this picture of a Widow Watch at Palm Isle Village, fantastic.

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 Resort please 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

Palm Isle Village offers great Gulf Views

For additional vacation rental information or real estate information please visit Island Real Estates vacation rental and property for sale information websites.