Holmes Beach City Real Estate

Palm Isle Village located on Anna Maria Island is 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 rental industry. The resort has even made news on Flickr where several pictures of the Widow Watches and exterior architecture has been spotlighted on the web

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.

Pool Holiday Rental

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.

Anna Maria Island Inventory

See the story below thanks to the Associated Press on the seven month high for housing starts… For more information on Anna Maria Island Real Estate for sale visit Island Real Estate’s website.

updated 1:49 p.m. ET, Fri., July 17, 2009

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.

It’s still a great time to buy on Anna Maria Island although inventory has dropped again and our inventory has moved down slightly on the island. In addition, the amount of inventory has dipped to below 30 months.]

A few things point to the bottom has come and gone for Anna Maria Island Real Estate. Firstly, in the month of April, Island Real Estate of Anna Maria Island sales professionals averaged more than one contract every other day. The sales activity was similar to the highest activity months in 2004 and 2005. I suspect in the next few months we will see a continued drop in inventory and more importantly a substantial drop in the amount of months of inventory on hand. As supply continues to drop, prices will increase.

In addition, interest rates last week inched above 5.0% with several economists claiming our economic low has come and gone and we would see an improvement in the economy later this year.

Anna Maria Island Real Estate Inventory

Act now, there are still a few real estate deals in Bradenton Beach, Holmes Beach and Anna Maria City.  Don’t say I didn’t warn you!

There is a fabulous new resource for luxury property searches on Anna Maria Island. Island Real Estate of Anna Maria Island, Inc is proud to announce the addition of Anna Maria Luxury Real Estate . The website was implemented based on an overwhelming demand from Island Real Estate’s clients for more information on specialized luxury property for sale on Anna Maria Island and the immediate area.

Featured properties, virtual tours, and dynamic searches are sure to make your search quick and productive. If you are searching for high luxury real estate in the Anna Maria Island areas be sure to visit Anna Maria Island Luxury Real Estate FIRST.

Pictured to the below, Vista Grande pool, a luxury gulf front home-like condominium in Holmes Beach on Anna Maria Island.

Luxury outdoor living

Holmes Beach R1 Month rental Restriction – UPDATE

As part of the comprehensive plan a one month rental restriction was passed about one year ago for properties in R1 area in the city of Holmes Beach. Many of Island Real Estate property owners ask me how could this happen?

Anna Maria Vacation

Apparently it was discussed in one meeting with little to no communication to the public. I think it is important to mention the public is invited to all meetings so it’s pretty tough for locals as me to play the “victim” role. More on victimization later.

As the General Manager I often predict potential rental income for seasonal rentals on Anna Maria Island. I feel very comfortable predicting that the one month restriction will reduce gross rental income for properties affected by more than 40%. A typical 3 bedroom home with a pool on a canal should generate at least $50,000 annually. Gross income generated with a one month rental restriction….Maximum $30,000. That’s a big hit for owners that are using income to defer debt service, insurance, and property taxes. Many owners are using their rental income to stay out of trouble with their banks.

What impact does the rental restriction have on property values in the R1 zoning areas? The first question that needs to be asked is what do future buyers want? Rental income or fewer new “neighbors” throughout the year? I estimate at least 70% of incoming buyers request specific information regarding potential rental income. Many do not rent their home after purchasing but they take great care in understanding “what if” scenarios. This is good business sense. So what’s it going to cost owners in R1? I would estimate between 15-25% of their value.

Fantastic Private Pool at 2916 Avenue E

But wait….Thanks to David Zaccagnino and a few of us that attended the latest Holmes Beach meeting on Tuesday, August 12th. David the “lone commissioner” convinced the mayor and remaining commissioners to revisit the comprehensive plan and open the rental restriction discussion to the public. Sandy Haas-Martens convinced the council that the vote needed to await the return of several vocal residents in the R1 zones. So it appears we will have our opportunity to discuss the rental restriction around November.

If you are an owner of the affected area don’t be a victim. Let your Anna Maria Island Real Estate professional know whether you support the one month rental restriction. If you want to be sure your voice is heard… contact me directly as I will continue to play an active role in the Holmes Beach rental restriction. Larry@IslandReal.com or visit our website at http://www.islandreal.com/ or contact us by telephone.