Monthly News Letter

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.

Newsletter December 2015 Alan and Scott Galletto * Anna Maria Island, FL; Real Estate

     

Sales for November 2015 were up 15% over last year at 23 (SF-8, Con-9, Dup-4 & Lot-2) compared to November 2014 at 20 (SF-10, Con-8, Dup-1 & Lot-1). Sales for November 30, 2015 Y-T-D were 373 (SF-212, Con-114, Dup-24 & Lot-23) again up 8% again over November 30, 2014 Y-T-D at 345 (SF-199, Con-91, Dup-34 & Lot-21). Sales for the last 12 months were 409 (SF-232, Con-129, Dup-24 & Lot-24) up 8% over the previous 12 months at 379(SF-212, Con-101, Dup-40 & Lot-26). 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 6% or 23 ( SF-10, Con-4, Dup-8 & Lot-1) were distressed. Currently there is only 1 distressed property on the market or .4% of the inventory of 285 (SF-157, Con-82, Dup-18 & Lot-28) for sale on the island. Pended properties (properties under contract) are 34 (SF-17, Con-12, Dup- 2 & Lot-3) down from 50 last month and 37 the month before. Inventory on the island has continued to be under 300 for the past eighteen months. It currently is at 285 up a little from 273 last month and 237 the month before.

Since last month’s Frank, Scott & Al’s Great Buy’s the most significant change is the condo at 9935 Manatee Ave (the Palms at Palma Sola Bay) which was reduced again to $699,900. Although on the causeway rather than directly on the island (for easy access to and from 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, end unit with two docks, one with a lift, you have to get in and see 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 November 30, 2015 Y-T-D sales at 373 compared to November 30, 2014 Y-T-D sales at 345 they continue to be 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 plus or minus 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 157 single family homes for sale on the island with an average and median sale price of $1,272,786 and $1,090,000 respectively. Also there are currently 82 condos for sale on the island with an average and median sale price of $584,312 & $449,000 respectively. The distribution of the Y-T-D sales price of the single family homes sold is 24% <$500K, 43% $500K-$750K, 17% $750K-$1Million and 16% >$1 Million. The distribution of the Y-T-D sales price of Condo’s is 82% <$500K, 13% $500K-$750K, 3% $750K-$1 Million and 2% >$1 Million.

Again I thought you may like to see a comparison to the Longboat Key market. Longboat Key currently has 323 properties for sale (SF-120, Con-173, Dup-3 & Lots-27). There are 30 properties pended (under contract) (SF-13, Con-17, Dup-0 & Lot-0). Of the single families currently for sale the average and median list prices are $2,052,673 and $1,335,000 respectively. Of the Condos currently for sale the average and median list prices are $973,837 and $699,000 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. Although Longboat Key has more high-end single family homes for sale than Anna Maria the median list price is pretty close.

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

Call Realtors ALAN and Scott GALLETTO 941.232.2216 and 941-779-3313

Anna Maria Island, FL; Real Estate Newsletter September 2015 Alan & Scott- The GALLETTO TEAM

BIMINI BAY front almost 4000 square foot home for sale

8317 Marina Ct 4 bed 4 bath PLUS Anna Maria Island

Sales for August 2015 on Anna Maria Island were down 12% over last year at 28 (SF-16, Con-9, Dup-1 & Lot-2) compared to August 2014 at 32 (SF-17, Con-9, Dup-4 & Lot-2). Sales for August 31, 2015 Y-T-D were 293 (SF-176, Con-84, Dup-14 & Lot-19) up 10% over August 31, 2014 Y-T-D at 266 (SF-162, Con-70, Dup-21 & Lot-13). Sales for the last 12 months were 408 (SF-233, Con-120, Dup-27 & Lot-28) up 1% over the previous 12 months at 405(SF-236, Con-109, Dup-34 & Lot-26). Of the sales for the last 12 months distressed properties were only 6% of the sales at 25 ( SF-16, Con-6, Dup-3 & Lot-0) compared to the previous 12 months where 8% or 31 ( SF-13, Con-9, Dup-8 & Lot-1) were distressed. Currently there are only 3 distressed properties or 1% of the inventory of 246 (SF-131, Con-62, Dup-26 & Lot-27) for sale on the island. Pended properties (properties under contract) continue to remain strong at 29 (SF-16, Con-8, Dup-3 & Lot-2) down from 33 last month but still above the average. Inventory on the island has stayed pretty low and steady at under 300 for the past fifteen months. It currently is at 246.

Since last month’s “Frank, Scott & Al’s Great Buys” the property at 103 73rd St, a duplex one house from the gulf, closed on 9/24/15 for $730,000. The property at 3603 4th Ave (reduced to $899,900) is waiting for a smart investor to buy it. This 3 bedroom/3 bath townhouse with elevator, pool and a rooftop deck with awesome views of the gulf and intercoastal 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 rental property in a great location (three houses to the beach). A new property on the market, 8317 Marina Ct., a Direct Bimini Bayfront Home Listed at $1,899,900 is a stunning waterfront property. This 4+ bedroom/3.5 bath with 3,676 square feet of A/C living has great Bimini Bay views, an elevated pool off the living area and great for the avid boater.

8317 Marina CT Bimini Bay front ANNA MARIA ISLAND

4 bed 4 bath 5 car garage Waterfront home for sale

 

As you know the island market continues to be very hot but the Manatee & Sarasota County mainland market has also been performing very well. The active inventory of properties for sale continue to drop and median sales prices have skyrocketed over last year. According to the Realtor Association of Sarasota & Manatee, the inventory of single family homes and condos have fell to a combined 3,303 and 2,534 respectively in August. This compares to 3,745 last August in Sarasota County and 2,724 in Manatee County or declines of 11.8% & 7% respectively. The lower inventory continues to propel median sales prices in both counties. In Sarasota County, the single family median price climbed 21.1%, from $195,750 last August to $237,000 this year. In Manatee County the increase was 18.8%, from $223,000 last August to $265,000 this year. Condo prices were also up substantially, from $177,000 to $220,000 in Sarasota County (24.3%) and from $122,000 to $155,000 in Manatee County(27%). This gives you a perspective on what’s happening with real estate off the island as well.

 

To summarize the island market, sales in 2015 continue to outpace 2014. Again if you look at August 31, 2015 Y-T-D sales at 293 compared to August 31, 2014 Y-T-D sales at 266, a 10% increase, we continue to match or exceed 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 in the 400 range. Single family sales continue at historic highs and for the last three years, have been higher than the peak year of 2005. There are currently 135 single family homes for sale on the island with an average and median sale price of $1,318,159 and $1,200,000 respectively. Also there are currently 68 condos for sale on the island with an average and median sale price of $655,757 & $435,000 respectively. I have again attached the new charts this month. They show the sales price rising continually since 2010 which supports the 5-6% increase in prices per year. All the trends continue to point to moderately rising prices and lower inventory levels.

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

Go to the website to read the entire Newsletter and see graphs reflecting the facts and figures… Www.AlanGalletto.com

Newsletter August 2015 Alan and Scott Galletto * Anna Maria Island, FL; Real Estate

9935 Manatee Ave just as you get onto Causeway

9935 Manatee Ave 2 docks and lift too 4000 sq ft

Sales for July 2015 were up 11% over last year at 30 (SF-21, Con-4, Dup-3 & Lot-2) compared to July 2014 at 27 (SF-21, Con-5, Dup-0 & Lot-1).  Sales for July 31, 2015 Y-T-D were 265 (SF-160, Con-75, Dup-13 & Lot-17) up 13% over July 31, 2014 Y-T-D at 234 (SF-145, Con-61, Dup-17 & Lot-11).  Sales for the last 12 months were 412 (SF-234, Con-120, Dup-30 & Lot-28) up 2% over the previous 12 months at 404(SF-240, Con-107, Dup-32 & Lot-25).  Of the sales for the last 12 months distressed properties were only 6% of the sales at 27 ( SF-16, Con-7, Dup-4 & Lot-0) compared to the previous 12  months where 8% or 31 ( SF-13, Con-9, Dup-8 & Lot-1) were distressed.  Currently there are only 3 distressed properties or 1% of the inventory of 258 (SF-134, Con-63, Dup-31 & Lot-30) for sale on the island.  Pended properties (properties under contract) continue to remain strong at 33 (SF-18, Con-10, Dup-3 & Lot-2) down from 39 last month but still well above the average.  Inventory on the island has stayed pretty low and steady at under 300 for the past fourteen months.

Since last month’s Frank, Scott & Al’s Great Buy’s the property at 207 75th St went under contract and is due to close on 8/31/15.  Also the 201 & 203 57th St land condos which went under contract last month closed on 8/19/15 for $1,400,000.  There are still a couple very strong investment buys.  The property at 3603 4th Ave (reduced to $899,900) is a great 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 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).  A new property on the market, 9935 Manatee Ave, a Bayfront condo on Palma Sola Bay Listed at $779,900 is a great water front property.  This 3 bedroom/3.5 bath with 3,908 square feet of A/C living has great bay views and a lift and second boat dock for the avid boater. 

3603 4th Ave 3 bed 2.5 bath with Elevator

3603 4th Ave. 3 bed 3 bath home with Elevator

To summarize the island market, sales in 2015 continue at record levels.  Again if you look at July 31, 2015 Y-T-D sales at 265 compared to July 31, 2014 Y-T-D sales at 234, a 13% increase, we continue to match or exceed 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 in the 400 range.  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 204 single family homes and condos for sale on the island with a total value of $217,837,648 with an average price of $1,067,832.  I have again attached some new charts this month.  One shows the historic sales price of residential (single family & condos) median sales price rising continually since 2010 which supports the 5-6% increase in prices per year.  Another is sales price to list price ratios.  You can see since 2010 residential property has been continually selling closer to the list price and  is currently at about 96% of the list price on average.  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 of under 300 properties.  All the trends continue to point to moderately rising prices and lower inventory levels.

I have also included in this month’s newsletter an article that advised buyers who are buying vacation home investment properties not to make these 5 mistakes.  One, not checking the local regulations on renting.  Two, not being picky about your management company.  Three, being thrown off by a furnished home.  Four, buying to please yourself.  Five, viewing it as a hobby.  I cover these points with buyers and especially buyers that are new to this kind of purchase.
THE GALLETTO TEAM of Island Real Estate, 6101 Marina Drive, Holmes Beach FL 34217.

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

Alan & Scott- The GALLETTO Team Anna Maria Island, FL. Real Estate Newsletter June 2015

103 73rd Holmes Beach  LOT VALUE w DUPLEX

103 73rd Holmes Beach LOT VALUE w DUPLEX

Sales for May 2015 were twice as high as last year at 56 (SF-37, Con-14, Dup-2 & Lot-3) compared to May 2014 at 28 (SF-18, Con-8, Dup-2 & Lot-0). Sales for May 31, 2015 Y-T-D were 199 (SF-119, Con- 58, Dup-8 & Lot-14) up 16% versus May 31, 2014 Y-T-D at 171 (SF-102, Con-48, Dup-13 & Lot-8). Sales for the last 12 months were 409 (SF-236, Con-116, Dup-29 & Lot-28) down 5% over the previous 12 months at 429(SF-251, Con-123, Dup-31 & Lot-24). Of the sales for the last 12 months distressed properties were only 5% of the sales at 24 ( SF-14, Con-5, Dup-5 & Lot-0) compared to the previous 12 months where 8% or 36 ( SF-17, Con-10, Dup-8 & Lot-1) were distressed. Currently there are only 3 distressed properties or 1% of the inventory of 269 (SF-142, Con-77, Dup-24 & Lot-26) for sale on the island. Pended properties (properties under contract) continue to be strong at 42 (SF-26, Con-8, Dup-5 & Lot-3) up from 37 last month and still above the average. Inventory on the island has stayed pretty low and steady at under 300 for the past twelve months.

This month’s Al, Frank & Scott’s Great Buy’s have not changed since the last newsletter. There are still a couple very strong investment buys. The property at 3603 4th Ave (reduced to $899,900) is a 3 bedroom/3 bath townhouse with elevator, pool and a rooftop deck with awesome views of the gulf and intercoastal with an excellent rental history. 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.

For someone who wants to totally remodel or tear down and build new 103 73rd St ($799,000) is currently a duplex that is being sold at the value of the lot. Check out the rest of the Great Buy’s attached.

To summarize the island market, sales in 2015 continue to be at record levels. Again if you look at May 31, 2015 Y-T-D sales at 199 compared to May 31, 2014 Y-T-D sales at 171, a 16% increase, we have gotten another great jump on the great sales years in 2012-2014 which had 431, 409 & 381 properties sold respectively. We are on track to again in 2015 have sales over 400 properties. Again, single family sales remain strong with 26 currently under contract. Single family sales, for the last three years, continue to be higher than the peak year of 2005. There are currently 226 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 year or so 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. You can see that all the trends are for 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 or Scott and 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.

See www.AlanGalletto.com NEWSLETTER for detailed charts and facts.

 

941-232-2216 ALAN
SCOTT 941.779.3313

Anna Maria Island, FL; Real Estate Newsletter May 2015 Alan GALLETTO TEAM

Fabulous rental 2/1 each side w/ 2 private pools!

1 1/2 blocks to beautiful AMI Beaches

Sales for April 2015 were down 9% over last year at 41 (SF-21, Con-15, Dup-1 & Lot-4) compared to April 2014 at 45 (SF-26, Con-14, Dup-3 & Lot-2). Sales for the last 12 months were 381 (SF- 217, Con-110, Dup-29 & Lot-25) down 13% over the previous 12 months at 436 (SF-257, Con-122, Dup- 32 & Lot-25).  Of the sales for the last 12 months distressed properties were 6% of the sales at 23 ( SF-12, Con-5, Dup-6 & Lot-0) compared to the previous 12 months where 8% or 37 ( SF-17, Con-11, Dup-8 & Lot-1) were distressed. Currently there are only 3 distressed properties or .1% of the inventory of 273 (SF- 144, Con-79, Dup-20 & Lot-30). They are comprised of one single family property, which is bank owned and two condos which are bank owned. Pended properties (properties under contract) continue to remain strong at 37 (SF-17, Con-13, Dup-2 & Lot-5) down from 43 last month and 53 the previous month but well above the average. Inventory on the island continues to remain below 300 at 273 (SF-144, Con-79, Dup-20 & Lot-30) from 270 last month, 279 the previous month and below 300 for the last twelve months.

Of Frank, Scott & Al’s Great Buy’s the duplex at 770 Jacaranda in Anna Maria listed at $499,000 that fell through last month is back under contract for cash no contingencies and will close June 26th . Again this month the property at 3603 4th Ave which was recently reduced to $919,900 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). With the inventory continuing to be down to all-time lows there are not many of these exceptional investment buys. Check out the rest of the Great Buy’s attached.

A look at the Vacation – Second Home Market at the macro level, as again reported by The Wall Street Journal, notes that sales were at the highest level on record last year above its prerecession peak. Vacation home sales last year accounted for one-fifth of all homes sales and they said that should more or less rise over the next five to ten years as the income and number of vacation home buyers increase. The Real Estate association’s survey found that buyers last year had median household income of $94,380 up from $85,600 in 2013. The number of buyers is likely to grow in the years ahead as 76 million-plus baby boomers advance in age and buy vacation homes that eventually will become retirement homes. Meanwhile, the prospect of rising prices has spurred buyers to act sooner rather than later. Rates on 30 year, fixed-rate mortgages, which have hovered below 4% since November, are poised to rise latter this year as the Federal Reserve increases short term rates, according to the Wall Street Journal. In addition, tax deductions for vacation homes can vary greatly depending on how much you use it and whether you rent it out. Check with your accountant for your personal situation. The macro trend is up and so is the Anna Maria Market.

To summarize the island market, it looks like the strong sales activity we have had since 2012 is continuing 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 and is continuing into 2015 bodes well for continuing the historical 5-6% equity increase in property. If you look at April 30, 2014 Y-T-D sales at 143 compared to April 30, 2015 Y-T-D sales of 143 we got another great start for the year. If you look at April 30 Y-T-D at sales over the last eleven years (2005-2015), sales for the first four months of 2015 at 143 have only been higher in 2005 at 160. As far as single family sales prices in the last 12 months, 23% of the total single family sales were under $500K, 65% were under $750K, 22% were between $750K and $1 million and 13% were over 1 Million. Of condo sales on the island in the last 12 months, 81% were under 500K, 96% were under 750K, 1% were between $750K and $1 million, and 3% were over $1 Million dollars. This continues to show single family sales to be the strongest part of the market on the island.

Call Realtors ALAN and Scott GALLETTO 941.232.2216 and 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

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

411 and 415 62nd St Holmes Beach FL 34217 for sale

4 UNITS UNDER $400k on Anna Maria Island WOW

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 locationAlso 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 4th 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 under NEWSLETTER on ALan’s front page of the website.

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 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 totalAs 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.

Ask Alan or Scott Galletto-THE Galletto Team Realtors for real estate on Anna Maria Island, FL. 941.232.2216 or 941-779-3313

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.