Monthly News Letter

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

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

2/2 listed at $659,000

616 Dundee Key Royale Canal front home

Sales for September 2014 were down 28% from last year at 27 (SF-7, Con-9, Dup-8 & Lot-3) compared to September 2013 at 37 (SF-22, Con-8, Dup-3 & Lot-4). Sales for September 30, 2014 Y-T-D were 293 (SF-169, Con-79, Dup-29 & Lot-16) down slightly from September 30, 2013 Y-T-D at 308 (SF-187, Con-89, Dup-16 & Lot-16). Sales for the last 12 months were 393 (SF-219, Con-110, Dup-39 & Lot-25) a little under sales for the previous 12 months at 410(SF-254, Con-110, Dup-23 & Lot-23). Of the sales for the last 12 months distressed properties were again only 8% of the sales at 33 ( SF-14, Con-9, Dup-9 & Lot-1) compared to the previous 12 months were also 8% or 32 ( SF-14, Con-12, Dup-6 & Lot-0) were distressed. Currently there are only 2 distressed properties (both condos 1 short sale & 1 bank owned) or .7% of the inventory of only 273 (SF-156, Con-69, Dup-15 & Lot-33) for sale on the island. Pended properties (properties under contract) are a little under the normal range at 29 (SF-17, Con-6, Dup-3 & Lot-3). Inventory on  island has stayed pretty low and steady at the low 300’s over the last 9 months but this is the second month in a row since 2003 that we have been under 300 properties for sale on  island.

Frank, Larry’s & Al’s Great Buy’s for this month have not changed much except the last Banyan Tree Estates lot at 108 Park Ave, with the large Banyan Tree on it, closed this month for $450,000. So the Banyan Tree Estates subdivision lots are all sold out. 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. This property is 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.

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

If you’re looking for a conforming duplex lot then 306 Clark Drive fits the bill. It has an old duplex on it but tear it down and build two single family land condos…live in one and sell the other…sell them both….rent them both….many possibilities $474,900.  This property is very close to the beach in a quiet part of the island. Another duplex in a great location which was under contract and it fell through because the buyer could not get financing then it went back on the market and quickly went under contract again that’s 8106 Gulf Drive listed at $495,000.

I have two fantastic listings that will be in MLS within the next couple weeks so you’re the first to know about them. The first one is a single family 1,618 sq. ft. under A/C, 3,238 sq. ft. under roof beach cottage 5 houses from the beach on a 10,000 sq. ft. lot which will be listed at $979,000. 121 49th Street

The other is a duplex 1 house from the beach with 1,938 sq. ft. under A/C and 3,876 under roof with a 2BR/2bath on one side and a 1BR/2 bath on the other which will be listed at $799,000. Call or email me if you want more information before they are listed. Check out the rest of the Great Buy’s attached in the full version of the newsletter on my website.

To summarize the island market, again sales in 2014 continue at record levels and looks like they will hit over the 400 level again for only the 4th time. Again, single family sales remain strong with 162 sold Y-TD about equal with last year at this time. The average price of single family sales for 2014 Year-To-Date is up 10% 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 14% over last year and median condo sales prices are up 10% over last year. The immediate future looks to continue this trend of rising prices at about an average 7%-10% rate which is very healthy. The inventory continues to be down into the historical low range hitting below 300 at 275 for the second time since 2003. If the inventory continues to remain low it will continue to put upward pressure on prices.

 

Call me, Realtor ALAN GALLETTO 941.232.2216 of Island Real Estate.

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

Conforming Duplex - Lot for sale Anna Maria Island

Conforming Duplex - Lot for sale Anna Maria Island

Sales for August 2014 were 6% ahead of last year at 32 (SF-17, Con-9, Dup-4 & Lot-2) compared to August 2013 at 30 (SF-21, Con-7, Dup-2 & Lot-0). Sales for August 31, 2014 Y-T-D were 266 (SF-162, Con-70, Dup-21 & Lot-13) about even with August 31, 2013 Y-T-D at 270 (SF-163, Con-81, Dup-14 & Lot-12). Sales for the last 12 months were 405 (SF-236, Con-109, Dup-34 & Lot-26) about even with the previous 12 months at 406(SF-243, Con-115, Dup-22 & Lot-26). Of the sales for the last 12 months distressed properties were again only 8% of the sales at 31 ( SF-13, Con-9, Dup-8 & Lot-1) compared to the previous 12 months were also 8% or 34 ( SF-15, Con-14, Dup-5 & Lot-0) were distressed. Currently there are only 6 distressed properties or 2% of the inventory of only 275 (SF-155, Con-71, Dup-18 & Lot-31) for sale on the island. Pended properties (properties under contract) are still down at the normal range of 32 (SF-13, Con-7, Dup-7 & Lot-5) even with 31 last month. Inventory on the island has stayed pretty low and steady at the low 300’s over the last 9 months but this is the first time since 2003 – 2005 that we have been under 300 properties for sale.

3603 4th Ave roof top view of the Gulf Anna Maria Island

3603 4th Ave roof top view of the Gulf Anna Maria Island

Frank, Larry’s & Al’s Great Buy’s for this month have not changed much except the last Banyan Tree Estates lot went under contract last month, 108 Park Ave. This is the lot with the large Banyan Tree on it. The lot at 106 Beach closed today at $625,000 so Banyan Tree Estates are all sold out. There are still
a couple very strong investment buys on the list. The property at 3603 4th Ave (recently reduced to $949 K) 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 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. Another excellent rental income property is 110 81st St a totally remodeled, rental duplex, 4 lots from the beach. This property, without a pool does over $60K in gross annual rental income. If you added a pool you would get $80K-$90K in gross annual rental income. If you’re looking for a conforming duplex lot then 306 Clark Drive fits the bill. It has an old duplex on it but tear it down and build two single family land condos…live in one and sell the other. This property is very close to the beach in a quiet part of the island. Another duplex in a great location which was
under contract is now back on the market because the buyer could not get financing he wanted and that’s 8106 Gulf Drive on the market for $495,000. Check out the rest of the Great Buy’s attached.

To summarize the island market, again sales in 2014 continue at record levels and looks like they will hit over the 400 level again for only the 4th time. Again if you look at August 31, 2014 Y-T-D sales at 266 compared to August 31, 2013 Y-T-D sales at 270, we have gotten another great jump on what looks to be another year of 400+ properties sold. Again, single family sales remain strong with 162 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 19% over last year at this time and median single family sales prices are up 17% over last year. Average condo sales prices for Y-T-D 2014 is up 7% over last year and median condo sales prices are up 20% over last year. Both these sales price increases over the past year bodes well for the market. Prices of all types of properties continue to rise at a healthy clip. The immediate future looks to continue this trend of rising prices at about an average 7%-10% rate which is very healthy. The inventory continues to be down into the historical low range hitting below 300 at 275 for the first time since 2005. If the inventory continues to remain low it will continue to put upward pressure on prices.

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

Happy Fall everyone!

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

 

4 bedroom 4 bath Anna Maria home 4 sale

Great rental or LIVE the Island Life

Great rental or LIVE the Island Life

Sales for June 2014 were 22% below last year at 33 (SF-22, Con-6, Dup-3 & Lot-2) compared to June 2013 at 42 (SF-22, Con-18, Dup-1 & Lot-1).

Sales for June 30, 2014 Y-T-D were 199 (SF-124, Con-54, Dup-12 & Lot-9) up 14% versus June 30, 2013 Y-T-D at 175 (SF-103, Con-55, Dup-7 & Lot-10). Sales for the last 12 months were 387 (SF-237, Con-102, Dup-24 & Lot-24) up 9% over the previous 12 months at 354(SF-202, Con-105, Dup-18 & Lot-29).

 Of the sales for the last 12 months distressed properties were again only 8% of the sales at 32 ( SF-14, Con-9, Dup-8 & Lot-1) compared to the previous 12 months where 12% or 42 ( SF-20, Con-17, Dup-5 & Lot-0) were distressed. Currently there are only 6 distressed properties or 2% of the inventory of 311 (SF-172, Con-85, Dup-25 & Lot-29) for sale on the island.

204 65th St Holmes Beach AMI for sale
204 65th St Holmes Beach AMI for sale

Pended properties (properties under contract) have slipped down to the normal range at 31 (SF-19, Con-8, Dup-1 & Lot-3) down from 41 last month. Inventory on the island has stayed pretty low and steady at 311 from 317 last month and 306 and 314 the previous two months.

Frank, Larry’s & Al’s Great Buy’s for this month have not changed much except for the investment buys. 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. This property is 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.

Another excellent rental income property is 110 81st St a totally remodeled, rental duplex, 4 lots from the beach. This property, without a pool does over $60K in gross annual rental income. If you added a pool you would get $80K- $90K in gross annual rental income.

If you’re looking for a conforming duplex lot then 306 Clark Drive fits the bill. It has an old duplex on it but tear it down and build two single family land condos…live in one and sell the other. This property is very close to the beach in a quiet part of the island. The owner says “MAKE AN OFFER”!!!!   Check out the rest of the Great Buy’s on the web site full version of my newsletter.
To summarize the island market, sales in 2014 continue at record levels. Again if you look at June 30, 2014 Y-T-D sales at 199 compared to June 30, 2013 Y-T-D sales at 175, a 14% increase, we have gotten another great jump on what looks to be another year of 400+ properties sold. Again, single family sales remain strong with 124 sold Y-T-D up 20% over this time last year. The average price of single family sales for 2014 Year-To-Date is up 15% over last year at this time and median single family sales prices are up 20% over last year. Average condo sales prices for Y-T-D 2014 is up 10% over last year and median condo sales prices are up 14% over last year. Both these sales price increases over the past year bodes
well for the market. Prices of all types of properties continue to rise at a healthy clip. The immediate future looks to continue this trend of rising prices at about an average 7%-10% rate which is very healthy. The inventory continues to be down into the historical low range which is in the low 300’s. If the inventory continues to remain low it will continue to put upward pressure on prices.

As I said last month, 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, the increase in prices could mean the difference in what kind of property you want versus what you will have to settle for.

 

Call me, Realtor ALAN GALLETTO  941.232.2216 of Island Real Estate.

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

 

Elegant living, 2 houses to the beach at 4906 4th Ave on Anna Maria Island in FL

        Sales for May 2014 were a little below last year at 27 (SF-18, Con-8, Dup-1 & Lot-0) compared to May 2013 at 32 (SF-23, Con-6, Dup-2 & Lot-1).  Sales for May 31, 2014 Y-T-D were 171 (SF-102, Con-48, Dup-13 & Lot-8) up 13% versus May 31, 2013 Y-T-D at 151 (SF-88, Con-45, Dup-9 & Lot-9).  Sales for the last 12 months were 429 (SF-251, Con-123, Dup-31 & Lot-24) up 10% over the previous 12 months at 390(SF-223, Con-113, Dup-24 & Lot-30).  Of the sales for the last 12 months distressed properties were only 8% of the sales at 36 ( SF-17, Con-10, Dup-8 & Lot-1) compared to the previous 12  months where 11% or 41 ( SF-19, Con-17, Dup-5 & Lot-0) were distressed.  Currently there are only 5 distressed properties or 1% of the inventory of 317 (SF-175, Con-88, Dup-28 & Lot-26) for sale on the island.  Pended properties (properties under contract) continue to be strong at 41 (SF-27, Con-10, Dup-1 & Lot-3) down from 61 last month but still above the average.  Inventory on the island has stayed pretty low and steady at 317 from 306 last month and 314 the previous month.

 

Another one of Frank, Larry & Al’s Great Buy’s went under contract since the last newsletter.  One of the last two, off water, Banyan Tree Estate lots went under contract (106 Beach listed at $599K) and 106 Beach which went under contract last month closed this month for $575K.  That leaves only one lot left in Banyan Tree Estates.  There are still a couple very strong investment buys.  The property at 3603 4th Ave (just 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.  This property is 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.

            Don’t forget the very special property for a 1st or 2nd home.  This is a newly listed Frank Lloyd Wright inspired custom home at 4906 4th Ave.  Everything is very high end custom including the wood finishes, flooring, cabinets and infinity lap pool.  This is a must-see to appreciate.

Another good buy for someone looking for a conforming duplex lot is 306 Clark Drive.  It has an old duplex on it but tear it down and build two single family land condos…live in one and sell the other.  Check out the rest of the Great Buy’s attached.

To summarize the island market, sales in 2014 continue to be at record levels.  Again if you look at May 31, 2014 Y-T-D sales at 171 compared to May 31, 2013 Y-T-D sales at 151, a 13% increase, we have gotten another great jump on the great sales year in 2013 which had 428 properties sold.  We are on track to again in 2014 have sales over 400 properties.  Again, single family sales remain strong with 27 currently under contract.  The average price of single family sales for 2014 Year-To-Date is up 12% over last year at this time and median single family sales prices are up 15% over last year.  Average condo sales prices for Y-T-D 2014 is up 5% over last year and median condo sales prices are up 2% over last year.  Duplex average sales prices are up 22% over last year and duplex median sales prices are up 11% over last year.  This continues to drive up prices of all types of properties at a healthy clip.  The immediate future looks to continue this trend of prices rising at about an average 7% rate which is very healthy.  The inventory continues to be down into the historical low range which is in the low 300’s.  If the inventory continues to remain low it will continue to put upward pressure on prices.

 

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 5-10% increase in prices could mean the difference in what kind of property you want versus what you will have to settle for.

 

For detailed charts see the entire newsletter under the Monthly News Letter on the front page of my  web site; www.Alangalletto.com

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

This property is a 10 ratio (rental income covers all the operating costs and most of the mortgage with 20% down)

          Sales for April 2014 continues strong at 45 (SF-26, Con-14, Dup-3 & Lot-2) compared to April 2013 at 44 (SF-23, Con-15, Dup-4 & Lot-2).  Sales for April 30, 2014 Y-T-D were 143 (SF-84, Con-40, Dup-11 & Lot-8) up 23% versus April 30, 2013 Y-T-D at 116 (SF-64, Con-38, Dup-6 & Lot-8).  Sales for the last 12 months were 436 (SF-257, Con-122, Dup-32 & Lot-25) up 7% over the previous 12 months at 408(SF-230, Con-122, Dup-24 & Lot-32).  Of the sales for the last 12 months distressed properties were only 8% of the sales at 35 ( SF-17, Con-11, Dup-6 & Lot-1) compared to the previous 12  months where 10% or 41       ( SF-19, Con-17, Dup-5 & Lot-0) were distressed.  Currently there are only 6 distressed properties or 10% of the inventory of 306 (SF-171, Con-86, Dup-25 & Lot-24).  Pended properties (properties under contract) continue to be strong at 63 (SF-43, Con-12, Dup-4 & Lot-4) up from 49 last month and well above the average.  Inventory on the island has dropped this month to 306 from 314 last month and 342 the previous month.

 

Another one of Frank, Larry & Al’s Great Buy’s went under contract since the last newsletter.  One of the last three, off water, Banyan Tree Estate lots went under contract and looks like it’s solid to close in June.  There are still a couple very strong investment buys.  The one at 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 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.  A very special property for a 2nd home is a newly listed Frank Lloyd Wright inspired custom home at 4906 4th Ave.  Everything is very high end custom including the wood finishes, flooring, cabinets and infinity lap pool.  This is a must-see to appreciate.  Check out the rest of the Great Buy’s attached.

 

To summarize the island market, sales so far in 2014 have been at record levels again.  If you look at April 30, 2014 Y-T-D sales at 143 compared to April 30, 2013 Y-T-D sales at 116 we got a great jump on the year.  If you look at April 30, Y-T-D sales (143) over the last ten years (2005-2014) only 2005 (438 properties sold that year) had higher April 30, Y-T-D sales (160).  Again, single family sales remain extremely strong with 43 currently under contract.  If you look at the average and median sales prices for single family homes you can see that they are up significantly over last year.  As a matter of fact condos, duplexes and lots are all up over the previous year.  This continues to drive up prices at a healthy clip.  The immediate future looks to continue this trend of prices rising at about a 7% rate which is very healthy.  The inventory is getting down into the historical low range which is under 300.  If we do get down that low it will put upward pressure on prices.

 

The 2014 winter tourist season also broke all records for seasonal tourists.  Tourism tax collections where the highest they have ever been, and the summer season is expected to continue that trend.  The islands tax collections were up almost 12% over last year.  Property on the island continues to be upgraded and remodeled which helps to drive rental income up to record levels.  What’s interesting is if you look at AMI homesteaded properties from 1998 to 2013, they have stayed relatively constant even though the visitors to the island have increased sharply over that period of time.

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.

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

YES this is your back yard!!

843 North Shore City of Anna Maria right on Tampa Bay with own Beach!!

Sales for February 2014 continue its pace at 24 ( SF-14, Con-7, Dup-2 & Lot-1) compared to February 2013 at 25 ( SF-12, Con-13, Dup-0 & Lot-0) .  Sales for February 28, 2014 Y-T-D were 61 (SF-36, Con-17, Dup-5 & Lot-3) versus February 28, 2013 Y-T-D at 43 (SF-20, Con-20, Dup-0 & Lot-3).  Sales for the last 12 months were 427 ( SF-253, Con-117, Dup-32 & Lot-25) up 2% over the previous 12 months at 418 ( SF-236, Con-127, Dup-22 & Lot-33).  Of the sales for the last 12 months distressed properties were only 9% of the sales at 38 ( SF-19, Con-10, Dup-8 & Lot-1) compared to the previous 12  months where 11% or 44 ( SF-20, Con-21, Dup-3 & Lot-0) were distressed.  Currently there are only 4 distressed properties or 1/2% of the inventory of 342 (SF-185, Con-102, Dup-26 & Lot-29).  They are comprised of one single family is a short sale, one single family is a bank owned, 1 condos is a short sales and 1 duplex is a short sale.  Pended properties (properties under contract) continue to be strong at 52 (SF-30, Con-12, Dup-7 & Lot-3) up from 49 last month and well above the average.  Inventory on the island has ticked up a little this month to 342 from 327 last month but for the last six months has ranged between 262 and 342.

Another one of Frank, Larry & Al’s Great Buy’s closed since the last newsletter.  The single family property (just off the island) at 11208 Veranda Ct. listed at $329,900 sold for $307,000 on 3/1/14.  The best buy on the island (2916 Ave E.) has come back on the market.  It was under contract but fell through because the buyer didn’t have good enough credit to get financing.  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 the 2012 sales which were 430 for the year.  This year’s sales pace for the first 2 months of 2014 are more like the 2012 sales for the same period.  If you look at February 28, 2014 Y-T-D sales at 61 compared to February 28, 2013 Y-T-D sales at 43 we got a great jump on the year.  If you look at February 28, Y-T-D sales over the last ten years (2005-2014) February 28, Y-T-D sales have never been higher.  Single family sales remain extremely strong with a record 36 sold in Jan & Feb of 2014 compared to the next highest year 2012 with 29 and the next highest year the peak year of 2005 at 25.  Over the past two years single family sales have been higher than any time in the last 30 years with 253 in 2014 and 236 in 2013 compared to the peak year of 2005 with 182.  The distribution of sales over the last twelve months also shows a strong healthy market. Of the 250 single family sales 32% were <$500K, 36% were $500K – $750K, 18% were $750K – $1 million and 14% were >$1 million.  Of the 120 condos sold 86% were <$500K, 9% were $500K  – $750K, 3% were $750K – $1 million and 2% were >$1 million.  Of the Multi-family sales (mostly duplex’s) over the last twelve months 67% were <$500K, 18% were $500K – $750K, 9% were $750K – $1 million and 6% were >$1 million.  For lot sales over the last twelve months 65% were <$500K, 20% were $500K – $750K, 0% were $750K – $1 million and 15% were > $1 million.  Single family sales continue to be higher than at any time over the past 30 years but all sales are currently pretty healthy.  If you look at sales of all four types of properties (429) over the last twelve months, 10% were over $1 million which is much higher than the norm which is 6-7% in past years.  Due to significantly more sales over $1 million you can see that the average and median sales of all type of properties are significantly up.

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