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Newsletter April 2016 Al and Scott Galletto * Anna Maria Island, FL; Real Estate

 

beach house on anna maria for sale call Galletto team 941-232-2216

Sweet beach house for sale on north end AMI

Thru the end of the first quarter of 2016 sales at 78(SF-43, Con-22, Dup-9, & Lot-4) were down 24% from the first quarter of 2015 at 102 (SF-61, Con-29, Dup-5 & Lot-7). Again it’s still very early in the year and by mid-year we will know more. To put it in perspective, sales for the first quarter have only been higher in 3 out of the past 10 years and there is no trend to it.

Sales in March 2016 were 31 (SF-20, Con-7, Dup-3 & Lot-1) down 33% from March 2015 at 46 (SF-31, Con-11, Dup-1 & Lot-3). The last 12 months sales (April 1, 2015 to March 31, 2016) were 383 (SF-210, Con-121, Dup-31, Lot-21) about equal to the previous 12 months (April 1, 2014 to March 31, 2015) at 385 (SF-222, Con-109, Dup-31 & Lot-23). Of the last 12 months sales only 3% or 11 (SF-6, Con- 4, Dup-1 & Lot-0) were distressed properties (bank owned or short sales) compared to 5% or 19 (SF-11, Con-2, Dup-6 & Lot-0) in the previous 12 months (April 1, 2014 to March 31, 2015). Inventory on the island continues to be low and has remained level from last month at 343 (SF-195, Con-96, Dup-20 & Lot-32). The inventory last month was 342 and in January 328.

If you’re looking for some very good properties to buy check out Frank, Al & Scott’s Great Buys this month. There is something for everyone from entry level properties for those who have a limited budget to high end waterfront properties for those with no budget. For those who have a limited budget and want to get into the market before it prices them out small condos are the best buys. You can get into a one or two bedroom condo in a good location that would have decent rental potential for between $250K & $350K. A good example of that is 2418 Gulf Drive Units A,B & C or 308 2nd St N. a four unit condo Units 202 and 102 (units 101 & 201 have already been sold). If you’re looking for a totally remodeled Beach Cottage with private pool in the city of Anna Maria steps to the beach than 770 North Shore Drive is for you (check out the virtual tour). The best buy, from the numbers standpoint is still 3603 4th Ave two houses from the beach with partial views of the beach and intercoastal. Check out the other great buys.

To summarize the market for the beginning of 2016, it’s starting off a little slower than 2015 but I expect it to pick up by mid-year and end the year strong. Distressed properties are pretty much non-existent and will continue to be so. There is currently still only one distressed single family property in the inventory. Pended properties (properties under contract) continue above average at 51 (SF-36, Con-12, Dup-2 & Lot-1). The distribution of the single family sales on the island over the last 12 months was 20% <$500K, 42% 500K-750K, 17% between $750K and $1 million and 21% over $1 million. The distribution for Condo sales over the last 12 months is 81% <$500K, 15% $5000K-$750K, 2% $750K – $1 million and 2% >$1 million. These percentages have been pretty consistent over the last year or so.

Longboat Key current inventory is 387 (SF- 147, Con- 206, Dup- 0 & Lot- 34). Pended properties on Longboat Key is 87 (SF-26, Con-59, Dup-0 & Lot-2) and Distressed properties on Longboat Key are only 4 (SF-1, Con-3, Dup-0 & Lot-0). The distribution for single family home sales on Longboat Key for the last 12 months was 26% <$500K, 26% $500K – $750K, 18% $750K – $1 million & 30% >$1 million. The distribution for Condo sales on Longboat Key for the last 12 months was 51% <$500K, 24% $500K – $750K, 11% $750K – $1 million & 14% >$1 million. The percentages for Longboat Key have not changed much over the last year.

You can see from the charts in the newsletter that average and median sale prices have both gone up for the last 12 months compared to the previous 12 months. Definitely a healthy market.  See www.AlanGalletto.com NEWSLETTER for detailed charts and facts.

941-232-2216 AL
SCOTT 941.779.3313

Real Estate Newsletter March 2016 GALLETTO Team Al and Scott Anna Maria Island, FL.

Sunsets on Anna Maria a way of LIFE

Sunsets on Anna Maria a way of LIFE

Two months into 2016 shows sales down about 22% from the same time last year which accounts for the inventory spiking up a little. Of course it’s still very early in the year and this could turn around very easily as we get into the middle of the year. To put it in perspective, sales for January and February have only been higher in 4 out of the past 11 years and there is no trend to it. Sales in February 2016 were 21 (SF-8, Con-8, Dup-3 & Lot-2) down 23% from February 2015 at 26 (SF-15, Con-9, Dup-1 & Lot-1). The last 12 months sales (March 1, 2015 to February 29, 2016) were 398 (SF-221, Con-125, Dup-29, Lot-23) up 6% over the previous 12 months (March 1, 2014 to February 28, 2015) at 376 (SF-213, Con-107, Dup-33 & Lot-23). Of the last 12 months sales only 4% or 15 (SF-8, Con-6, Dup-1 & Lot-0) were distressed properties (bank owned or short sales) compared to 6% or 24 (SF- 11, Con-5, Dup-8 & Lot-0) in the previous 12 months (March 1, 2014 to February 28, 2015). Inventory on the island continues to remain low but is up again this month at 342 (SF-190, Con-101, Dup-20 & Lot-31). The inventory last month was 328 and in January 309.

If you’re looking for some very good properties to buy check out Frank, Al & Scott’s Great Buys this month. Since last month’s newsletter 9935 Manatee Ave. a 3-bedroom 4-bath 3,908 sq. ft. condo listed at $699,900 has gone under contract, buyers continue to be active. Again the best investment buy in the whole inventory is still 3603 4 th Avenue. It has averaged $85-90K in gross annual rental income which makes it cover all the operating cost and most of the mortgage at list price. If you’re looking for an entry level 2 bedroom condo check out 2814 Gulf Drive a 3 unit condo with the 2 bedroom units listed at $379,900 and a 1 bedroom unit at $319,900. If you’re only looking for a 1 bedroom unit also check out 308 2 nd St N. Two of the units are already under contract. This 4 unit condo that has been totally remodeled has only 2 units left at $274K & $249K. If you’re looking for a Bay Front Family Compound check out 2201 Avenue A – a 5 bedroom/3.5 bath bay front home with panoramic Inter-coastal views, a manicured pool area, boat lift and even a putting green listed at $1,999,900. A unique property that just came on the market is 105 White Ave. A 2 acre gulf front property with 200 feet of frontage that has been owned by the Norfolk Southern Railroad since 1931 (see the aerial attached). Check out the other great buys.

To summarize the market for the beginning of 2016, it’s starting off where the record year of 2015 left off. Distressed properties are pretty much non-existent and will continue to be so into the future. There is currently still only one distressed single family property in the inventory. Pended properties (properties under contract) are above average at 60 (SF-40, Con-14, Dup-2 & Lot-4). The distribution of the single family sales on the island over the last 12 months was 22% <$500K, 42% 500K-750K, 17% between $750K and $1 million and 19% over $1 million. The distribution for Condo sales over the last 12 months is 82% <$500K, 14% $5000K-$750K, 2% $750K – $1 million and 2% >$1 million. Longboat Key current inventory is 406 (SF- 154, Con- 216, Dup- 2 & Lot- 34). Pended properties on Longboat Key is 82 (SF-16, Con-66, Dup-0 & Lot-0) and Distressed properties on Longboat Key are only 1 (SF-0, Con-1, Dup-0 & Lot-0). The distribution for single family home sales on Longboat Key for the last 12 months was 24% <$500K, 28% $500K – $750K, 18% $750K – $1 million & 30% >$1 million. The distribution for Condo sales on Longboat Key for the last 12 months was 52% <$500K, 24% $500K – $750K, 11% $750K – $1 million & 13% >$1 million. This year looks to be starting out at a little slower pace than last year but I expect the market to continue at the same pace that we’ve seen for the past five years that is ending the year at about 400 properties sold.

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

Alan & Scott- The GALLETTO Team Anna Maria Island, FL. Real Estate Newsletter February, 2016

          Yes, 2016 is continuing on where 2015 left off.  Three of the last four years sales have been over 400 and we haven’t seen that since 2004 & 2005.  We’ve also seen continuous appreciation in prices at an average of 6% since 2010.

Luxury Gulf Front Condo

Luxury Gulf Front Condo Anna MAria Island for sale

Sales in January 2016 started the year off strong again among all property types and showed average and median sales prices up again from 2015.  January 2016 sales were 27 (SF-15, Con-8, Dup-3 & Lot-1) down slightly from January 2015 at 30 (SF-15, Con-9, Dup-3 & Lot-3) but still the third best January sales since 2006.  The last 12 months sales (Feb1, 2015 to Jan 31, 2016) were 404 (SF-228, Con-127, Dup-27, Lot-22) up 8% over the previous 12 months (Feb 1, 2014 to Jan 31, 2015) at 374 (SF-212, Con-105, Dup-34 & Lot-23).  Of the last 12 months sales only 4% or 18 (SF-9, Con-8, Dup-1 & Lot-0) were distressed properties (bank owned or short sales) compared to 6% or 22 (SF-10, Con-3, Dup-9 & Lot-0) in the previous 12 months (Feb 1, 2014 to Jan 31, 2015).  Inventory on the island continues to remain low but is slightly up again this month at 330 (SF-187, Con-97, Dup-17 & Lot-29).  The inventory last month was 309 and for over the last year the inventory has been running slightly below 300.

If you’re looking for some very good properties to buy check out Frank, Al & Scott’s Great Buys this month. Since last month’s newsletter 727 Jacaranda listed at $1,149,000 has gone under contract, so buyers are active.  The best investment buy in the whole inventory is still 3603 4th Avenue.  If someone doesn’t buy it soon I’m going to buy it myself.  It has averaged $90K in gross annual rental income which makes it a 10 ratio (purchase price/Gross annual rental income) at list price.  Ask for a Cost of Ownership Analysis on 3603 4th Ave. to see the numbers.  If you’re looking for an entry level condo check out 2814 Gulf Drive a 3 unit condo with 2 bedroom units listed at $379,900 and a 1 bedroom unit at $319,900.  If you’re only looking for a 1 bedroom unit also check out 308 2nd St N.  Two of the units are already under contract.  This 4 unit condo that has been totally remodeled has only 2 units left at $274K & $249K.  If you’re looking for a Bay Front Family Compound check out 2201 Avenue A – a 5 bedroom/3.5 bath bay front home with panoramic Bay views, a manicured pool area and boat lift listed at $1,999,900.  Check out the other great buys this month.

Bradenton Beach FL BAY FRONT Home for sale

Location Location 34217 % bed 3.5 ba Waterfront Home for sale

To summarize the market for the beginning of 2016, it’s starting off where the record year of 2015 left off.  Distressed properties are pretty much non-existent and will continue to be so into the future.  There is currently only one distressed single family property in the inventory.  Pended properties (properties under contract) are about average at 25 (SF-10, Con-11, Dup-3 & Lot-1).  The distribution of the single family sales on the island over the last 12 months was 22% <$500K, 43% 500K-750K, 17% between $750K and $1 million and 18% over $1 million.  The distribution for Condo sales over the last 12 months is 83% <$500K, 13% $5000K-$750K, 2% $750K – $1 million and 2% >$1 million. 

            Longboat Key current inventory is 483 (SF- 148, Con- 207, Dup- 96 & Lot- 32).  Pended properties on Longboat Key is 65 (SF-14, Con-31, Dup-20 & Lot-0) and Distressed properties on Longboat Key are only 3 (SF-0, Con-1, Dup-2 & Lot-0).  The distribution for single family home sales on Longboat Key for the last 12 months was 23% <$500K, 29% $500K – $750K, 18% $750K – $1 million & 30% >$1 million.  The distribution for Condo sales on Longboat Key for the last 12 months was 51% <$500K, 26% $500K – $750K, 10% $750K – $1 million & 13% >$1 million. 

            This year is starting out at about the same pace as last year and I expect the market to continue at the same pace that we’ve seen for the past five years that is at a 5%-6% equity increase.

THE GALLETTO TEAM of Island Real Estate, 6101 Marina Drive, Holmes Beach FL 34217.

For detailed charts see the entire newsletter on our website; www.AlanGalletto.com
Call Realtors ALAN and Scott GALLETTO 941.232.2216 and 941-779-3313

Anna Maria Island, FL; Real Estate Newsletter January 2016 Alan & Scott- The GALLETTO TEAM

3 bedroom 2.5+ bath Close to beaches

   Happy New Year- 2015 turned out to be another strong year. Three of the last four years sales have been over 400 and we’ve seen continuous appreciation in prices at an average of 6% since 2010.

 Sales in 2015 again were strong among all property types and showed average and median sales prices up again from 2014. December 2015 sales were 32 (SF-15, Con-13, Dup-3 & Lot-1) down slightly from December 2014 at 36 (SF-20, Con-15, Dup-0 & Lot-1). December 31, 2015 Y-T-D sales were 407 (SF-228, Con-128, Dup-27, Lot-24) up 7% over December 31, 2014 at 381 (SF-219, Con-106, Dup-34 & Lot-22). Of the 2015 sales only 5% or 22 (SF-12, Con-8, Dup-2 & Lot-0) were distressed properties (bank owned or short sales) compared to 6% or 22 (SF-10, Con-3, Dup-8 & Lot-1) in 2014. Inventory on the island continues to remain low but is slightly up at 309 (SF-179, Con-84, Dup-16 & Lot-30). The inventory last month was 289 and for over the last year the inventory has been below 300.
If you’re looking for some very good properties to buy check out Frank, Al & Scott’s Great Buys this month. The best investment buy in the whole inventory is still 3603 4th Avenue. It has averaged $90K in gross annual rental income which makes it a 10 ratio (purchase price/Gross annual rental income) at list price. Check out the Cost of Ownership Analysis attached to Newsletter for 3603 4th Ave. If you’re looking for an entry level condo check out 2814 Gulf Drive a 3 unit condo with 2 bedroom units listed at $379,900 or if you only need 1 bedroom look at 308 2nd St N. a 4 unit condo with units listed from $234,000. If you’re looking for a beach cottage close to the beach in Anna Maria check out 727 Jacaranda a 3 bedroom/2.5 bath beach home steps to the beach on a 12,600 sq. ft. lot with a very large well landscaped pool area listed at $1,149,900.Check out the other great buys this month.

Beach home for sale

 To summarize the market, 2015 was one of the best five years for sales on the island (all over 400 sales) since 2002. Distressed properties remain low and will continue to do so into the future. There are currently no distressed properties in the inventory. Pended properties (properties under contract) are above average at 34 (SF-21, Con-7, Dup-3 & Lot-3). The distribution of the single family sales on the island in 2015 was 24% <$500K, 43% 500K-750K, 17% between $750K and $1 million and 16% over $1 million. The distribution for Condo sales in 2015 is 83% <$500K, 13% $5000K-$750K, 2% $750K – $1 million and 2% >$1 million. Looking at the charts on the website withinour newsletter you can see that single family and condo average & median sales prices for 2015 are up significantly over 2014 with single family average & median sales price up 5%, condo average & median sales prices are up 6% & 9% respectively. The bottom line is that the current market is as good as the island market has ever been.
Longboat Key current inventory is 374 (137-SF, 208-Con, 3-Dup & 26-Lot). Pended properties on Longboat Key is 43 (SF-16, Con-25, Dup-0 & Lot-2) and Distressed properties on Longboat Key are only 2 (SF-1, Con-1, Dup-0 & Lot-0). The distribution for single family home sales on Longboat Key for 2015 was 23% <$500K, 28% $500K – $750K, 17% $750K – $1 million & 32% >$1 million. The distribution for Condo sales on Longboat Key for 2015 was 51% <$500K, 26% $500K – $750K, 11% $750K – $1 million & 12% >$1 million.
 The year 2015 was one for the record books in real estate sales for both Manatee and Sarasota counties, closing out the year with an all-time record of 20,691 in combined closed transactions, 1,302 sales above last year’s numbers. You can see that the market is not only very good on the island but also doing great on the mainland as well.

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

Canal/Bay front Condo for sale 4000 sq ft Bradenton FL

Live on the water, 2 docks and Lift

Sales for October 2015 were about even with last year at 27 (SF-13, Con-10, Dup-3 & Lot-1) compared to October 2014 at 28 (SF-20, Con-4, Dup-4 & Lot-0).  Sales for October 31, 2015 Y-T-D were 350 (SF-204, Con-105, Dup-20 & Lot-21) again up 8% over October 31, 2014 Y-T-D at 325 (SF-189, Con-83, Dup-33 & Lot-20).  Sales for the last 12 months were 406 (SF-234, Con-128, Dup-21 & Lot-23) up 3% over the previous 12 months at 393(SF-222, Con-103, Dup-41 & Lot-27).  Of the sales for the last 12 months distressed properties were only 5% of the sales at 21 ( SF-13, Con-7, Dup-1 & Lot-0) compared to the previous 12  months where 8% or 30 ( SF-14, Con-7, Dup-8 & Lot-1) were distressed.  Currently there are only 2 distressed properties on the market or .7% of the inventory of 273 (SF-151, Con-75, Dup-21 & Lot-26) for sale on the island.  Pended properties (properties under contract) surged up to 50 (SF-27, Con-17, Dup-3 & Lot-3) up from 37 last month and 29 the month beforeInventory on the island has stayed pretty low and steady at under 300 for the past seventeen months. It currently is at 273 up a little from 237 last month.

Since last month’s Frank, Scott & Al’s Great Buy’s there has been only one significant change, the condo at 9935 Manatee Ave (the Palms at Palma Sola Bay) has been reduced again to $699,900.  Although on the causeway rather than directly on the island it is on Palma Sola Bay and is a great boaters paradise with 3+ bedrooms, 3.5 baths 3,908 sq. ft. under A/C and two docks, one with a lift, you have to get into this property to appreciate it.  More like a house than a condo.

To summarize the island market, sales in 2015 continue to run ahead of 2014.  Again if you look at October 31, 2015 Y-T-D sales at 350 compared to October 31, 2014 Y-T-D sales at 325 they are up 8%.  We continue to match or exceed the great sales years in 2012-2014 which had 431, 409 & 381 properties sold respectively.  We are still on track to again in 2015 have sales in the 400 range.  Single family sales continue at historic highs and for the last three years, continue to be higher than the peak year of 2005.  There are currently 151 single family homes for sale on the island with an average and median sale price of $1,277,568 and $1,122,000 respectively.  Also there are currently 75 condos for sale on the island with an average and median sale price of $590,332 & $449,000 respectively.  The distribution of the list price of the single family homes on the market are 4% <$500K, 39% $500K-$750K, 28% $750K-$1Million and 82% >$1 Million.  The distribution of the list price of Condo’s currently on the market are 63% <$500K, 16% $500K-$750K, 6% $750K-$1 Million and 15% >$1 Million. 

Again I thought you may like to see some comparison to the Longboat Key market as a comparison.  Longboat Key currently has 314 properties for sale (SF-124, Con-157, Dup-3 & Lots-30).  There are 57 properties pended (under contract) (SF-22, Con-32, Dup-0 & Lot-3).  Of the single families currently for sale the average and median list prices are $2,015,901 and $1,257,000 respectively.  Of the Condos currently for sale the average and median list prices are $969,892 and $689,000 respectively.  As you can see the single family and Condo average and median sale prices are higher on Longboat Key than Anna Maria.   The Condo average and median list prices are higher on Longboat Key because it has more condos with direct Gulf Front views because of the high rises on Longboat.  The distribution of the list price of the single family homes on the market on Longboat Key are 6% <$500K, 19% $500K-$750K, 21% $750K-$1Million and 54% >$1 Million.  The distribution of the list price of Condo’s currently on the market in Longboat Key are 31% <$500K, 24% $500K-$750K, 12% $750K-$1 Million and 33% >$1 Million.   You can see the Anna Maria single family home market is skewed to the high end much more than the Longboat Key single family market.  Anna Maria has 82% of its single family market priced above $1 Million whereas Longboat Key has only 54% in that price range. 

 

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.