Featured Properties

Real Estate Newsletter July 2015 GALLETTO Team Alan and Scott Anna Maria Island, FL.

Boat Dock and Lift on the Intra-Coastal

206 52nd St Condo

Sales for June 2015 were equal to last year at 36 (SF-20, Con-13, Dup-2 & Lot-1) compared to June 2014 at 36 (SF-22, Con-8, Dup-4 & Lot-2). Sales for June 30, 2015 Y-T-D were 235 (SF-139, Con-71, Dup- 10 & Lot-15) up 14% versus June 30, 2014 Y-T-D at 207 (SF-124, Con-56, Dup-17 & Lot-10). Sales for the last 12 months were 409 (SF-234, Con-121, Dup-27 & Lot-27) down 3% over the previous 12 months at 422(SF-251, Con-113, Dup-33 & Lot-25). Of the sales for the last 12 months distressed properties were only 6% of the sales at 24 ( SF-14, Con-6, Dup-4 & Lot-10) compared to the previous 12 months where 8% or 33 ( SF-14, Con-9, Dup-9 & Lot-1) were distressed. Currently there are only 3 distressed properties or 1% of the inventory of 285 (SF-154, Con-75, Dup-25 & Lot-31) for sale on the island. Pended properties (properties under contract) continue to be strong at 39 (SF-27, Con-7, Dup-3 & Lot-2) down from 42 last month but still well above the average. Inventory on the island has stayed pretty low and steady at under 300 for the past thirteen months.

This month’s Frank, Scott & Al’s Great Buy’s have changed since the last newsletter. There are still a couple very strong investment buys. The property at 3603 4 th Ave (reduced to $899,900) went under contract since the last newsletter but fell through and is back on the market. This 3 bedroom/3 bath townhouse with elevator, pool and a roof top deck with awesome views of the gulf and inter-coastal and is an excellent rental. This property is a 10 ratio (rental income covers all the operating costs and most of the mortgage with 20-30% down) and is ideal for someone who wants a property in a great location (three houses to the beach) and in move-in condition. It is one of the best investment buys on the island right now. The two land condos at 201 & 203 57th St listed at $789,000 each have both gone under contract and are due to close on 8/7/2015. Also the elevated duplex at 103 73rd St listed at $799,000 went under contract and is due to close on 8/19/2015.

Check out two other new properties 206 52nd St Listed at $1,330,000 a condo on the Bay and also close to the beach and 9935 Manatee Ave a Bayfront condo on the causeway Listed at $779,900 with great bay views and a lift and second boat dock.

Condo on Sarasota Bay

9935 Manatee Ave Your OWN lift and 2 docks

To summarize the island market, sales in 2015 continue to be at record levels. Again if you look at June 30, 2015 Y-T-D sales at 235 compared to June 30, 2014 Y-T-D sales at 207, a 14% increase, we are continuing to get another great jump on the great sales years in 2012-2014 which had 431, 409 & 381 properties sold respectively. We continue to be on track to again in 2015 have sales of over 400 properties. Single family sales remain strong with 27 currently under contract. Single family sales, for the last three years, have been higher than the peak year of 2005. There are currently 229 single family homes and condos for sale on the island with a total value of $216,991,514 with an average price of $960,139. I have attached some new charts this month. One shows the historic sales price of residential (single family & condos) median sales price rising continually since 2010. Another is sales price to list price ratios. You can see that for the last years residential property has sold at about 95% of the list price. Another shows the historic count of active residential listings and you can see that since 2010 the inventory has been continually going down to its current low levels. All the trends continue to point to moderately rising prices and lower inventory levels. If you’re contemplating buying a property on Anna Maria Island sometime between now and 2016 it would be smart to buy sooner rather than later. Although prices are going up at a moderate rate, a 5-6% increase in prices could mean the difference in the kind of property you are able to buy.

If you’re not already on a search for the properties you’re looking for just call me, Scott or Lynn; give us the criteria and we will put you on one. You will receive auto emails initially of every property that meets your criteria and then you will continue to get all new properties that come on the market after that the day they hit the market.

Ask Alan or Scott Galletto-THE Realtors to ask about real estate on Anna Maria Island, FL. 941.232.2216    941.779.3313

Newsletter April 2015 Alan Galletto * Anna Maria Island, FL; Real Estate

Sales for February 2015 were a little above last year at 26 (SF-15, Con-9, Dup-1 & Lot-1) compared to February 2014 at 24 ( SF-14, Con-7, Dup-2 & Lot-1) . Sales for the last 12 months were 376 (SF-213, Con-107, Dup-33 & Lot-23) down 12% over the previous 12 months at 427 (SF-253, Con-117, Dup-32 & Lot-25). Of the sales for the last 12 months distressed properties were only 6% of the sales at 24 ( SF-11, Con-5, Dup-8 & Lot-0) compared to the previous 12 months where 6% or 25 ( SF-6, Con-10, Dup- 8 & Lot-1) were distressed. Currently there are only 2 distressed properties or 1% of the inventory of 279 (SF-151, Con-78, Dup-18 & Lot-32). They are comprised of one single family property, which is bank owned and one condo which is bank owned. Pended properties (properties under contract) continue to be strong at 53 (SF-35, Con-12, Dup-3 & Lot-3) up from 42 last month and well above the average. Inventory on the island continues to remain below 300 at 279 (SF-151, Con-78, Dup-18 & Lot-32) from 296 last month and below 300 for the last nine months.

Of Frank, Scott & Al’s Great Buy’s that went under contract last month, the elegantly stunning home at 114 Beach listed at $2,499,900 closed March 9th for $2,200,000. The single family beach cottage at 121 49th St listed at $899,900 fell through because an investor couldn’t get financing based on his credit so it is back on the market. This single family on a conforming duplex lot, seven houses to the beach, is a great property in a great location. Also since last month another one of our great buy’s 120 50th St listed at $1,290,000 went under contract and is scheduled to close on May1, 2015. The property at 3603 4 th Ave continues to be a strong investment buy. This 3 bedroom/3 bath townhouse with elevator, pool and a roof top deck with awesome views of the gulf and inter-coastal and an excellent rental and a 10 ratio (purchase price/gross annual rental income). This property is ideal for someone who wants a property in a great location (three houses to the beach) and in move-in condition. Check out the rest of the Great Buy’s in the Newsletter on my website www.AlanGalletto.com.

To summarize the island market, although we only have sales for two months of 2015, it looks like the strong sales activity we have had over the last couple years will continue and we are so far on track to end up the year with sales in the high 300’s or low 400’s. The fact that we had a low inventory (below 300) for most of 2014 is the reason we ended up with sales for 2014 at 381 instead of the 408 and 431 of the previous two years and that low inventory continues into the first two months of 2015. As I said last month, I think sales in the high 300’s is very healthy and keeps the market from getting too overheated but is still well above the sales for the average year in this market of 250. The amount of people who are looking at property continues to be strong. That’s the prime reason that the inventory has been at the low levels they have been over the past year.

If you look at February 28, 2014 Y-T-D sales at 56 compared to February 28, 2015 Y-T-D sales of 61 we got another great start for the year. If you look at February 28 Y-T-D sales over the last eleven years (2005- 2015), sales for those two months have only been higher in 2014 at 61. Single family sales continue to be well above the peak year of 2005. Single family and condo sales historically make up 80% of the total sales on the island and duplex’s and lots make up the other 20%. Over the last 12 months single family and condo sales accounted for 85% of the total sales and single families were 57% of the total and condos 28% of the total. As far as sales prices go in the last 12 months, 23% of the total single family sales were under $500K, 63% were under $750K, 22% were between $750K and $1 million and 15% were over 1 Million. Of condo sales on the island in the last 12 months, 79% were under 500K, 95% were under 750K, 2% were between $750K and $1 million, and 3% were over $1 Million dollars. This shows single family sales continue to be the strongest part of the market on the island.

For detailed charts see the entire newsletter on our website; www.Alangalletto.com

941-232-2216 ALAN

941-779-3313 SCOTT

Alan Galletto Anna Maria Island, FL. Real Estate Newsletter February 2015

 

Tampa Bay Front Home

4 bed, 3 bath, caged pool, Tampa Bay Front Home

 

Sales for January 2015 got off to a little slower start this year at 30 ( SF-15, Con-9, Dup-3 & Lot-3) compared to January 2014 at 37 ( SF-22, Con-10, Dup-3 & Lot-2) . Sales for the last 12 months were 374 ( SF-212, Con-105, Dup-34 & Lot-23) down 13% over the previous 12 months at 428 ( SF-251, Con- 123, Dup-30 & Lot-24). Of the sales for the last 12 months distressed properties were only 6% of the sales at 22 ( SF-10, Con-3, Dup-9 & Lot-0) compared to the previous 12 months where 9% or 39 ( SF-18, Con- 13, Dup-7 & Lot-1) were distressed. Currently there are only 4 distressed properties or 1% of the inventory of 296 (SF-160, Con-84, Dup-21 & Lot-31). They are comprised of two single family properties, one single family is a short sale and one single family is a bank owned. Of the two distressed condos, one condo is a short sale and one condo is bank owned. Pended properties (properties under contract) are strong at 42 (SF-28, Con-10, Dup-3 & Lot-1) up from 25 last month and well above the average. Inventory on the island continues to remain below 300 at 296 (SF-160, Con-84, Dup-21 & Lot-31) from 284 last month and below 300 for the last eight months.

Another two of Frank, Scott & Al’s Great Buy’s went under contract since the last newsletter. The elegantly stunning home at 114 Beach listed at $2,499,900 went under contract and is due to close on March 9, 2015. Also under contract is the single family beach cottage at 121 49th St listed at $899,900 on a conforming duplex lot and is due to close on April 3, 2015. There are still a few very strong investment buys. 3603 4th Ave is a 3 bedroom/3 bath townhouse with elevator, pool and a roof top deck with awesome views of the gulf and inter-coastal and an excellent rental. This property is ideal for someone who wants a property in a great location (three houses to the beach) and in move-in condition. 120 50th St is another property in a great location (west of Gulf Drive – 4 houses to the beach), 3 bedroom/3 bath all on one floor up, elevator, 2-car garage, pool and lushly landscaped grounds with large covered area. Check out the rest of the Great Buy’s attached.

To summarize the island market, although we only have sales for one month of 2015, it looks like the strong sales activity we have had over the last couple years will continue and we should end up the year with sales in the high 300’s or low 400’s. The fact that we had a low inventory (below 300) for most of 2014 is the reason we ended up with sales for 2014 at 381 instead of the 408 and 431 of the previous two years. I think sales in the high 300’s is very healthy and keeps the market from getting too overheated but is still well above the sales for the average year in this market of 250. The amount of people who are looking at property continues to be strong. That’s the prime reason that the inventory has been at the low levels they have been over the past year. Another reason is, outside of the stock market, there isn’t anywhere else to put your money that’s relatively safe other than real estate. If you look at January 2014 sales at 37 compared to January 2015 sales of 30 we got another great start for the year. If you look at January sales over the last eleven years (2005-2015) January 2015 sales have only been higher in 2014 at 37. Single family sales continue to be well above the peak year of 2005. Single family and condo sales historically make up 80% of the total sales on the island and duplex’s and lots make up the other 20%. Over the last 12 months single family and condo sales accounted for 85% of the total sales and single families were 57% of the total and condos 28% of the total. As far as sales prices go in the last 12 months, 23% of the total single family sales were under $500K, 59% were under $750K, 27% were between $750K and $1 million and 15% were over 1 Million. Of condo sales on the island in the last 12 months, 80% were under 500K, 95% were under 750K, 2% were between $750K and $1 million, and 3% were over $1 Million dollars. This shows single family sales continue to be the strongest part of the market on the island. If you look at single family and condo sales over the past couple years the under $500K percentage of sales has continued to drop which is another sign of rising prices.

Check the full Newsletter including graphs and BEST BUYS at www.AlanGalletto.com

Call me, Realtor ALAN GALLETTO  941.232.2216  of Island Real Estate, 6101 Marina Drive, Holmes Beach FL 34217.

Real Estate Newsletter November 2014 Alan Galletto Anna Maria Island, FL.

 

Anna Maria 4-4 almost beach front home 4 sale

103 75th St 4 bed 4 bath home for sale 34217

Sales for October 2014 were even with last year at 32 (SF-20, Con-4, Dup-4 & Lot-4) compared to September 2013 at 32 (SF-17, Con-11, Dup-2 & Lot-2).  Sales for October 31, 2014 Y-T-D were 325 (SF-189, Con-83, Dup-33 & Lot-20) down slightly from October 31, 2013 Y-T-D at 341 (SF-204, Con-100, Dup-19 & Lot-18).  Sales for the last 12 months were 393 (SF-222, Con-103, Dup-41 & Lot-27) a little under sales for the previous 12 months at 410(SF-253, Con-113, Dup-24 & Lot-20).  Of the sales for the last 12 months distressed properties were only 7.6% of the sales at 30 ( SF-14, Con-7, Dup-8 & Lot-1) compared to the previous 12  months were 8.5% or 35 ( SF-14, Con-14, Dup-7 & Lot-0) were distressed.  Currently there are only 8 distressed properties (3 single family, 1 short sale & 2 bank owned and 5 condos, 1 short sale & 4 bank owned) or 2% of the inventory of only 276 (SF-150, Con-75, Dup-18 & Lot-33) for sale on the island.  Pended properties (properties under contract) are in the normal range at 32 (SF-18, Con-11, Dup-1 & Lot-2)Inventory on the island has stayed pretty low and steady at the low 300’s over the last 9 months but this is the third month in a row since 2003 that we have been under 300 properties for sale on the island.

 

Frank, Larry’s & Al’s Great Buy’s for this month have not changed much except another property from last month went under contract.  The property at 306 Clark on a conforming duplex lot went under contract and is due to close on 12/30/14.  Also 8106 Gulf Dr. a duplex that quickly went under contract last month closed this month for the list price of $495,000.  Again there are still a couple very strong investment buys on the list.  The property at 3603 4th Ave (recently reduced to $959K) is a 3 bedroom/3 bath townhouse with elevator, pool and a roof top deck with awesome views of the gulf and inter-coastal and an excellent rental history.  It does over $90K in gross annual rental income which makes it a 10 ratio (rental income covers all the operating costs and most of the mortgage with 20% down) and is ideal for someone who wants a property in a great location (three houses to the beach) and in move-in condition.

Anna Maria home for sale 4 bed, 4 bath

103 75th St

 Another excellent rental income property is 103 75th Street a totally remodeled 4 bedroom/4 Bath beach house one house to the beach with a pool.  This property has never been rented but would do around $100K in annual rental. 

 

I have two fantastic new listings that just went into MLS.  The first one is a single family 2,080 sq. ft. under A/C and 3,238 sq. ft. under roof beach cottage at 121 49th St. 5 houses from the beach on a 10,000 sq. ft. conforming duplex lot which is listed at $979,000.  The other is a duplex at 110 81st St. 5 houses from the beach with 2,365 sq. ft. under A/C and 3,077 under roof with a 3BR/2bath on one side and a 2BR/1 bath on the other which will be listed at $879,900.  It doesn’t have a pool but it does about $60K in gross annual income and with a pool would do about $90K.  Call or email me if you want more information.  Check out the rest of the Great Buy’s.

 

To summarize the island market, again sales in 2014 continue at record levels and it continues to look like they will hit over the 400 level again for only the 3rd time since 2004 & 2005.  Again, single family sales remain strong with 189 sold Y-T-D about equal with last year at this time.  The average price of single family sales for 2014 Year-To-Date is up 9% over last year at this time and median single family sales prices are up 18 % over last year.  Average condo sales prices for Y-T-D 2014 is up 12% over last year and median condo sales prices are up 8% over last year.  The immediate future looks to continue this trend of rising prices at about the average 30 year rate of 7%-10% which is very healthy.  The inventory continues to be down into the historical low range hitting below 300 at 276 for the second time since 2003.  If the inventory continues to remain low it will continue to put upward pressure on prices.

For detailed charts see the entire newsletter on my web site; www.Alangalletto.com

Anna Maria Island, FL; Real Estate Newsletter April 2014 Alan Galletto

     

3br/2.5ba 3 blocks to beach GREAT rental or HOME

211 65th 3br/2.5ba 3 blocks to beach GREAT rental or HOME

   

 This will be an abbreviated newsletter since it’s so close to May and I want to get out the first quarter sales for 2014 as compared to 2013.

          Sales for March 2014 continue its pace at 36 ( SF-22, Con-9, Dup-3 & Lot-2) compared to March  2013 at 29 ( SF-21, Con-3, Dup-2 & Lot-3).  Sales for March 31, 2014 Y-T-D were 97 (SF-58, Con-26, Dup-8 & Lot-5) versus March 31, 2013 Y-T-D at 72 (SF-41, Con-23, Dup-2 & Lot-6).  Sales for the last 12 months were 434 ( SF-254, Con-123, Dup-33 & Lot-24) up 6% over the previous 12 months at 407( SF-231, Con-117, Dup-25 & Lot-34).  Of the sales for the last 12 months distressed properties were only 9% of the sales at 39 ( SF-18, Con-10, Dup-10 & Lot-1) compared to the previous 12  months where 10% or 41 ( SF-19, Con-19, Dup-3 & Lot-0) were distressed.  Currently there are only 2 distressed properties or .5% of the inventory of 314 (SF-182, Con-85, Dup-21 & Lot-26).  They are comprised of  1 condo which is a short sales and 1 duplex which is a short sale.  Pended properties (properties under contract) continue to be strong at 49 (SF-30, Con-10, Dup-5 & Lot-4) down from 52 last month and well above the average.  Inventory on the island has dropped this month to 314 from 342 last month and 327 the previous month.

Another one of Frank, Larry & Al’s Great Buy’s closed since the last newsletter.  The best buy on the island (2916 Ave E.) which was under contract but fell through because the buyer didn’t have good enough credit to get financing, went right back under contract and closed this month for $605,000.  There are still a couple very strong investment buys.  3603 4th Ave is a 3 bedroom/3 bath townhouse with elevator, pool and a roof top deck with awesome views of the gulf and inter-coastal and an excellent rental.  This property is ideal for someone who wants a property in a great location (three houses to the beach) and in move-in condition.  117 Peppertree Lane is another property in a great location (west of Gulf Drive), 4 bedroom/2 bath, 2-car garage, pool and lushly landscaped grounds, very good rental.  Check out the rest of the Great Buy’s attached.

To summarize the island market, if you remember this time last year sales started off at a much slower pace than 2012 but it picked up in mid year and ended up just about equaling at 428 the 2012 sales which were 430 for the year.  This year’s sales pace for the first 3 months of 2014 are more like the 2012 sales for the same period.  If you look at March 31, 2014 Y-T-D sales at 97 compared to March 31, 2013 Y-T-D sales at 72 we got a great jump on the year.  If you look at March 31, Y-T-D sales over the last ten years (2005-2014) only 2005 (438 properties sold) and 2012 (430 properties sold) had higher March 31, Y-T-D sales.  Again, single family sales remain extremely strong with a record 58 sold in Jan, Feb & Mar of 2014 compared to the next highest year 2012 with 55 and the next highest year the peak year of 2005 at 48.  Over the past two years single family sales have been higher than any time in the last 30 years with 247 in 2012 and 257 in 2013 compared to the peak year of 2005 with 182.

Alan Galletto Anna Maria Island, FL. Real Estate Newsletter February 2014

117 Peppertree. This larger than appears cottage sits West of Gulf Drive! 4br/2ba

Sales for January 2014 got off to a fast start at 35 ( SF-22, Con-10, Dup-3 & Lot-0) compared to January 2013 at 18 ( SF-8, Con-8, Dup-0 & Lot-2) .  Sales for the last 12 months were 417 ( SF-251, Con-123, Dup-30 & Lot-13) up 2% over the previous 12 months at 408 ( SF-240, Con-122, Dup-25 & Lot-21).  Of the sales for the last 12 months distressed properties were only 9% of the sales at 39 ( SF-18, Con-13, Dup-7 & Lot-1) compared to the previous 12  months where 11% or 46 ( SF-23, Con-19, Dup-4 & Lot-0) were distressed.  Currently there are only 5 distressed properties or 2% of the inventory of 327 (SF-177, Con-97, Dup-26 & Lot-27).  They comprise one single family is a short sale, 3 condos are short sales and 1 duplex is bank owned.  Pended properties (properties under contract) continue to be strong at 49 (SF-23, Con-10, Dup-11 & Lot-5) up from 41 last month and well above the average.  Inventory on the island has ticked up a little this month to 327 from 311 last month but for the last six months has ranged between 262 and 327.

            Another one of Frank, Larry & Al’s Great Buy’s went under contract since the last newsletter.  The single family property(best investment buy) at 2916 Ave E listed at $629,000 went under contract and is scheduled to close on May 1, 2014.  There are still a couple very strong investment buys.  3603 4th Ave is a 3 bedroom/3 bath townhouse with elevator, pool and a roof top deck with awesome views of the gulf and inter-coastal and an excellent rental.  This property is ideal for someone who wants a property in a great location (three houses to the beach) and in move-in condition.  117 Peppertree Lane is another property in a great location (west of Gulf Drive), 4 bedroom/2 bath, 2-car garage, pool and lushly landscaped grounds, very good rental.  Check out the rest of the Great Buy’s attached.

To summarize the island market, although we only have sales for one month of 2014, it looks like the strong sales activity we have had over the last couple years will continue.  The amount of people who are looking at property is as strong as I’ve seen it in the last 20 years.  That’s the prime reason that the inventory has been at the low levels they have been over the past year.  Another reason is, outside of the stock market, there isn’t anywhere else to put your money that’s relatively safe other than real estate.   If you look at  January 2013 sales at 18 compared to January 2014 sales of 35 we got a great start for the year.   If you look at January sales over the last ten years (2005-2014) January sales have never been higher.  Single family sales over the last two years continue to remain the highest in the last 30 years with 251 single families sold in the last 12 months and 240 for the previous 12 months.  Single family and condo sales historically make up 2/3rds of the total sales on the island with sales of each being about even and duplex’s and lots make up the other third.  Over the last 12 months single family and condo sales accounted for 90% of the total sales and single families were 60% of the total and condos 30% of the totalAs far as sales prices go in the last 12 months, 33% of the total single family sales were under  $500K, 70% were under $750K, 16% were between $750K and $1 million and 14% were over 1 Million.  Of condo sales on the island in the last 12 months, 85% were under 500K, 95% were under 750K, 3% were between $750K and $1 million, and 2% were over $1 Million dollars.  This shows single family sales continue to be the strongest part of the market on the island.

At the beginning of every year I analyze where the previous year’s sales have come from.  In 2013 I sold over $30 Million in Real Estate and the breakdown of where the buyers and listers came from didn’t surprise me.   The internet accounted for 36% of them, 32% came from previous customers (repeat customers), 12% came from referrals from previous customers and 8% came from rental customers.  So 44% came from previous customers or referrals from previous customers, 36% from the internet and 8% from our rental customers.  Thank you all for your help and keep those referrals coming.

Newsletter January 2014 Alan Galletto * Anna Maria Island, FL; Real Estate

6923 Holmes Blvd ANNA MARIA Island FL for sale

6923 Holmes Blvd ANNA MARIA Island FL for sale

Happy New Year- 2013 turned out to be one of only 4 years in the past 11 years where sales 

exceeded 400 and was just as good a year as 2012 with sales of property on the island at 427 just behind
2012 which were 431.
Sales in 2013 were strong among all property types and showed average and median sales prices
significantly up from 2012. December 2013 sales were 34 (SF-13, Con-10, Dup-6 & Lot-5) down 10%
over December 2012 at 38 (SF-27, Con-9, Dup-1 & Lot-1). December 31, 2013 Y-T-D sales were 427 (SF-
237, Con-138, Dup-27, Lot-25) down 1% over December 31, 2012 at 431 (SF-245, Con-126, Dup-27 &
Lot-33). Of the 2013 sales only 9% or 39 (SF-16, Con-16, Dup-7 & Lot-0) were distressed properties
(bank owned or short sales) compared to 13% or 56 (SF-25, Con-27, Dup-4 & Lot-0) in 2012. Inventory on
the island continues to remain low at 311 (SF-167, Con-95, Dup-26 & Lot-23). The inventory last month
was 321 and for the last six months the inventory has ranged between 263 and 321.

If you’re looking for some very good properties to buy check out Frank, Larry’s & Al’s Great Buys
this month.

2916 Ave E Renovated and Redecorated Close to Anna Maria beach

2916 Ave E Renovated and Redecorated Close to Anna Maria beach

Again the best investment buy in the whole inventory is still 2916 Avenue E. It has averaged 
$60K in gross annual rental income for the past five years and did $66,778 in 2012 which makes it a 9.4 ratio (purchase price/Gross annual rental income) at list price. No other  property has that low a ratio which is why it’s the best investment property currently for sale on the island. Check out the Cost of Ownership Analysis attached.

 

Another property close to the beach (2 blocks to the beach) is 6923 Holmes Blvd priced at $369K (Click on first picture of the blog for details). There is plenty of room for a pool which would make it a great 2nd home or a very good investment property. One of the nicest new Gulf front condos currently for sale on the island is 108 36th St (Palm Gables).  This unit was custom built, has been impeccably decorated with Robb & Stucki furniture and hand painted island murals and has never been a rental although it can be rented weekly. Check out the other great buys this month.
The strong Canadian dollar and the attractive real estate prices in south Florida have pushed Canadian snowbirds to south Florida in large numbers because of a perfect storm. Canadian baby boomers can find great real estate deals in Florida and the strong dollar buys more in the U.S. then it could in recent years (Source: Ft. Lauderdale Sun Sentinel). We have been seeing more Canadians come into the Island market in the last year than any time since most Canadians who owned property here sold out in the 1990’s when the U.S. dollar was very strong against the Canadian dollar. Keep on coming….Ah.
To summarize the market, 2013 was as great a year for sales on the island as 2012. Both years were the
first time, since the MLS has been recording sales except for 2005 & 2004, where sales were over 400
properties ( 2013-427, 2012-431, 2004-435 and 2005-438). The one number that really jumps out at you is the number of single family homes sold in 2012 (244) and 2013 (237). If you look at the Marketing Stats graph you can see that there were more single family sales in 2012 & 2013 than any other year ever. In the peak year of 2005 only 182 , 2006 – 74, 2007 – 111, 2008 – 121, 2009 – 118, 2010 – 187, 2011 – 175, 2012 – 245 and 2013 – 237. Distressed properties remain low and will continue to do so into the future. They are currently at 5 (SF-1, Con-3, Dup-1 & Lot-0) 2% of the inventory. Pended properties (properties under contract) are above average at 41 (SF-18, Con-11, Dup-8 & Lot-4). The distribution of the sales in 2013 is also very healthy with 52% <$500K, 80% <750K, 10% between $750K and $1 million and 10% over $1 million. In
2010-2012 the sales over $1 million were only 2%-3% of the market. The average is 6%-7%, so the high end
has really ramped up in 2013 which is very good for the whole market. Looking at the charts you can see that
single family and condo average & median sales prices for 2013 are up significantly over 2012. The bottom
line is that the current market is as good as the island market has ever been.

January 1 – December 31 ’2013 Real Estate SALES ON ANNA MARIA ISLAND FL

Ask Alan Galletto-THE Realtor for real estate on Anna Maria Island, FL. 941.232.2216

Real Estate for sale * Newsletter * September 2013 Anna Maria Island FL.

EXQUISITELY remodeled  FULL Bay View

A must see to believe, imported tile, sinks SO much to see

Sales for August 2013 at 31 (SF-21, Con-7, Dup-2 & Lot-1) was just below the same month last year of August 2012 at 37 (SF-19, Con-11, Dup-3 & Lot-4) up 20%.  As I mentioned in the July Newsletter I felt, although sales for last year were one of the highest in the last 30 years, that even though we were lagging behind we would begin to catch up and that is the case. Sales for August 31, 2013 Y-T-D were 270 (SF-163, Con-81, Dup-14 & Lot-12) compared to August 31, 2012 at 295 (SF-165, Con-92, Dup-19 & Lot-19) only 9% below last year’s record pace.  Sales for the last 12 months at 406 (SF-243, Con-115, Dup-22 & Lot-26) were 5% above the previous 12 months at 389 (SF-220, Con-118, Dup-27 & Lot-24).  Of the sales for the last 12 months the distressed properties (bank owned or short sales) were 34 (SF-15, Con-14, Dup-5 & Lot-0) only 8% of sales compared to the previous 12 month at 56 (SF-22, Con-26, Dup-6 & Lot-2) or 14% of the sales.  Inventory on the island continues to remain low at 270 (SF-132, Con-89, Dup-25 & Lot-24) down from July at 283 and from 289 in June, 321 in May, 344 in April and 351 in March.  Currently there are only 6 (SF-3, Con-3, Dup-0 & Lot-0) distressed properties or 2% of the current inventory.  Pended properties (properties under contract) remain strong at 61 (SF-33, Con-10, Dup-10 & Lot-8) compared to 69 in July and 64 in June.

This month’s Frank, Larry & Al’s Great Buy’s has some changes from July. The Gulf front lot in Banyan Tree Estates listed at $2,650,000 was put under contract along with the two other Gulf front lots. Yes, all three Direct Gulf Front lots listed at $2,650,000 were put under contract in August! Another good buy just came on the market this month. 117 Peppertree Ave is a 4 bedroom/2 bath beach cottage with a pool and waterfall west of gulf drive just steps to the beach. It’s listed at $899,000 and is an excellent rental. If you’re looking for a lot to build your beach home there are 2 great lots left in Banyan Tree Estates, 106 Park Ave listed at $599,000 and 106 Beach Ave listed at $649,000. They are both three houses to the beach and are in one of the best locations on the island. Again, this month don’t forget the best investment buy on the island at 2916 Ave E listed at $629,000. Put 20% down and with a 30 year mortgage at 5% the rental income pays all the operating costs and just about all the mortgage. Check out the detail and give me a call with questions.   BUT it will be updated painted and refreshed this week so look again, for the first time beginning of October!Sales for August 2013 at 31 (SF-21, Con-7, Dup-2 & Lot-1) was just below the same month last year of August 2012 at 37 (SF-19, Con-11, Dup-3 & Lot-4) up 20%. As I mentioned in the July Newsletter I felt, although sales for last year were one of the highest in the last 30 years, that even though we were lagging behind we would begin to catch up and that is the case. Sales for August 31, 2013 Y-T-D were 270 (SF-163, Con-81, Dup-14 & Lot-12) compared to August 31, 2012 at 295 (SF-165, Con-92, Dup-19 & Lot-19) only 9% below last year’s record pace. Sales for the last 12 months at 406 (SF-243, Con-115, Dup-22 & Lot-26) were 5% above the previous 12 months at 389 (SF-220, Con-118, Dup-27 & Lot-24). Of the sales for the last 12 months the distressed properties (bank owned or short sales) were 34 (SF-15, Con-14, Dup-5 & Lot-0) only 8% of sales compared to the previous 12 month at 56 (SF-22, Con-26, Dup-6 & Lot-2) or 14% of the sales. Inventory on the island continues to remain low at 270 (SF-132, Con-89, Dup-25 & Lot-24) down from July at 283 and from 289 in June, 321 in May, 344 in April and 351 in March. Currently there are only 6 (SF-3, Con-3, Dup-0 & Lot-0) distressed properties or 2% of the current inventory. Pended properties (properties under contract) remain strong at 61 (SF-33, Con-10, Dup-10 & Lot-8) compared to 69 in July and 64 in June.

Almost pays for itself with 20% down...

Water Fall at 2916 Ave E for sale Anna Maria island

In summary August 31, Year to Date sales are only 9% behind 2012 which was the second highest year of sales in the last 30 years and which says the market is still very hot. Inventory on the island remains at historic lows and as you can see from the inventory absorption chart continues to be at 2005 levels with only 7 months of inventory available. Again, the market stats chart shows there were more single family homes sold in 2012 and 2013 then in the peak year of 2005. Distressed properties on the island remain few and far between continually remaining below 10. As a reference to the island market, this month I’ve included some stats from Manatee County. As you can see from the Manatee County Single family Stats the number of single family sales are up 20% from 2012 along with average and median sale prices. Foreclosures and short sales are down from a year ago and traditional sales are up which is a good sign for the Manatee County market. Also, single family inventory is down 18% from this time in 2012. Manatee County Condo sales show similar results with condo sales up 40% and average and median condo sales prices up from the same time in 2012 while condo inventory down 35% from a year ago. The bottom line is that the island market is as hot as it’s ever been in the last 30 years and it looks like the Manatee County market is slowly coming back as well which bodes well for the area. Interest rates are starting to creep up and I believe will continue in that direction slowly which means interest rates are not going to be lower any time in our life time so now is the time to buy.

See www.AlanGalletto.com NEWSLETTER for detailed charts and facts.
Call me, Realtor ALAN GALLETTO 941.232.2216 of Island Real Estate.

Anna Maria Island Gulf front Yellow house is for sale!

Anna Maria Yellow House on the beach for sale

Anna Maria Yellow House on the beach for sale

Anna Maria Yellow House on the beach Is for sale

This IS the Gulf front Yellow house on the beach of Anna Maria

When you walk the beach on Anna Maria Island people always ask; “Is that yellow house for sale right on the beach”?

 

 

 

 

 

It is listed and for sale!  Call Alan Galletto 941-232-2216 for details.  www.AlanGalletto.com

101 Park Ave Anna Maria Island FL 1 acre Gulf front lot for sale

Banyan Tree Estates 3 GULF FRONT lots for sale Anna Maria Island

Call Al Galletto 941-232-2216

www.AlanGalletto.comthere are 3 Gulf front lots that are already permitted for up to a 15,000 square foot house and a pool Gulf side with the DEP!   Beach on the Gulf of Mexico is at your front door

Banyan Tree Estates (www.BanyanTreeEstates.com)

Call Alan Galletto 941-232-2216 for information