Posts tagged Anna Maria Island

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

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

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!

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.

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

EXQUISITELY remodeled  FULL Bay View

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

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

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

Almost pays for itself with 20% down...

Water Fall at 2916 Ave E for sale Anna Maria island

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

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

Anna Maria Island, FL. ALAN GALLETTO, Realtor; Real Estate Newsletter May 2013

                           MAY  NEWSLETTER  2013 

            Sales for April 2013 at 44 (SF-23, Con-15, Dup-4 & Lot-2) just beat April 2012 at 43 (SF-24, Con-10, Dup-5 & Lot-4).  Sales for April 30, 2013 Y-T-D were 116 (SF-64, Con-38, Dup-6 & Lot-8) compared to April 30, 2012 Y-T-D at 139 (SF-79, Con-42, Dup-9 & Lot-9).  Although still down 17% from 2012 sales, 2013 Y-T-D sales are catching up to last year’s banner year of 430 properties sold.  Sales for the last 12 months at 408 (SF-230, Con-122, Dup-24 & Lot-32) were up 16% over sales for the previous 12 months at 352 (SF-193, Con-114, Dup-19 & Lot-26).  Of sales for the last 12 months the distressed properties (bank owned or short sales) were 41 (SF-19, Con-17, Dup-5 & Lot-0) only 10% of the sales compared to the previous 12 months at 61 (SF-20, Con-33, Dup-5 & Lot-3) or 17% of the sales.  Currently there are only 12 (SF-5, Con-5, Dup-2 & Lot-0) or 3% distressed properties in the inventory.  Pended properties (properties under contract) continue to grow each month and is currently at 73 (SF-40, Con-20, Dup-10 & Lot-3) up from 67 in April, 61 in March and 51 in February.  This continues to bode very well for sales to continue at a record pace.  Inventory on the island continues to shrink and is currently at 321 (SF-157, Con-90, Dup-23 & Lot-51) down from 344 in April, 351 in March and 366 in February. 

             Another one of Frank, Larry & Al’s Great Buys has gone under contract since my last newsletter.  The property at 7314 Gulf Drive (La Casa Costiera Unit 7) went under contract April 24th and is due to close May 31st.  Currently there are 15 single family homes for sale west of gulf drive and 6 of them are direct gulf front homes and of the 9 homes left only 6 are under $1 Million.  West of gulf drive is the best location to maximize rentals and is the location that appreciates the most.  There has been a lot of showings and interest in 2916 Avenue E which continues to be the best investment, buy by the numbers, on the island.  This property is 4 houses from the gulf and does $65K in annual rentals year after year.  For you investors out there you won’t find a better investment property on the island currently for sale.  It pays all operating cost and the mortgage with 20% down.  The second best buy close to the beach under $1 Million is 109 Cedar Ave at $879,000 (3 houses from the beach) a 4 bedroom/2 bath home that could do $65K-$75K in gross annual income.  Third again is 3603 4th Ave listed at $959,000 is 2,376 sq ft, 3 bedroom/3 bath townhouse style home with pool and roof top deck with views of the gulf, inter-coastal and skyway bridge.  Check out the virtual tours on these and other properties.

          To summarize the island market, although 2013 started off slower than 2012, we are starting to catch up and build steam for another banner year of sales.  The year with the highest number of sales in the last 30 years was 2005 with 438 properties sold, then 2004 with 434 properties sold and then, last year, 2012 with 430 properties sold.  To put that in perspective, the average number of properties sold in a year is 250.  You can see that although were a little behind 2012 sales we’re still having another great year.  At the same time the island inventory is at the lowest level since 2005 and sales continue to outpace listings each month which continues to drive the inventory lower.  Distressed properties continue to remain very low and are almost non-existent and I expect this to continue since prices are rising.  I’ve seen a bump up in sales prices since last month and that trend will continue as long as sales remain high and inventory low.  Single family 2013 Y-T-D average and median sale prices were $643,154 & $535,000 compared to 2012 Y-T-D at $580,047 & $515,000 up 11% & 4% in 2013. Average and median condo sales for 2013 Y-T-D were $317,543 & $315,500 compared to 2012 Y-T-D at $275,752 & $285,000 up 15% & 11% in 2013.  In April there were 44 properties sold on the island and that is 88 sides (buyer’s side and listing side).  Island Real Estate had 27 sides of the sales in April or 31% of the sales, well above out average share of 25%.  We were involved in 24 of the 44 properties sold or 55% of the sales for April.  Island Real Estate listed 11 properties in April and put 19 properties under contract.  Island Real Estate currently has about 20% of the listings on the island and I have 55% of the IRE listings.  As you can see the market is good and we are getting more than our fair share of the market.

For detailed charts see the entire newsletter on my web site; www.Alangalletto.com
Ask Alan Galletto-THE Realtor for real estate on Anna Maria Island, FL. 941.232.2216

ALAN GALLETTO, Anna Maria Island FL. Realtor; Real Estate Newsletter April 2013

April  NEWSLETTER  2013 

            Sales for April 2013 at 29 (SF-21, Con-3, Dup-2 & Lot-3) were only 29% of April 2012 at 41 (SF-26, Con-13, Dup-0 & Lot-2).  Sales for the first Quarter of 2013 were 72 (SF-41, Con-23, Dup-2 & Lot-6) down 25% from the first Quarter of 2012 at 96 (SF-55, Con-32, Dup-4 & Lot-5).  The first quarter of 2013 was a much slower start then 2012Sales for the last 12 months at 407 (SF-231, Con-117, Dup-25 & Lot-34) were up 14% over the previous 12 months at 358 (SF-197, Con-123, Dup-15 & Lot-23).  Of the sales for the last 12 months, the distressed properties were 10% or 41 (SF-19, Con-19, Dup-3 & Lot-0) compared to the distressed properties for the previous 12 months at 17% or 61 (SF-21, Con-32, Dup-5 & Lot-3).  Currently there are only 14 distressed properties in the inventory or 4% of the inventory.  Five are single families with 2 being bank owned and 3 being short sales; 6 are condos with 2 being bank owned and 4 being short sales; 3 are duplex’s with 2 being bank owned and 1 a short sale.  Pended properties (properties under contract) continue to be strong at 67 (SF-35, Con-18, Dup-11 & Lot-3) up from last month’s 61 and the previous months 51.  Inventory on the island continues to shrink at 344 (SF-160, Con-103, Dup-32 & Lot-49) down from 351 last month and 366 the previous month.

            Two of the properties in last month’s Frank, Larry and Al’s Great Buys have gone under contract.  The property at 115 36th Street (west of gulf drive) just went under contract and is due to close in May.  The property at 313 64th St (a townhouse condo with private pool) also went under contract and just closed for $515,000.  Currently there are only 8 properties for sale west of Gulf Drive under $1 million and we have seen a spike up in the sale prices of these properties.  West of Gulf drive is the prime location for renting.  A pool home with at least 3 bedrooms will do between $60K and $100K depending on the location, amenities and number of bedrooms.  Again the best investment buy on the island is 2916 Avenue E (4 houses from the beach) listed at $629,000 and does gross annual rental of $67,000.  Number two again this month is 109 Cedar Ave (3 houses from the beach) which could do $65K-$75K in rental income.  The third investment buy is 3603 4th Ave listed at $959,000 a great 3bedroom 3 bath townhouse style home with pool and roof top deck with views of the Gulf and inter-coastal waterway.  Check out the virtual tours on these 3 properties.

            To summarize the Island market the year has started off about 25% below the first quarter of 2012 and 2012 was the third highest year of sales in the last 30 years.  Based on the activity we are seeing and the strong enthusiasm in the market place I expect that gap to narrow as we continue through the year.  For example in March there were 29 properties sold on the island or 58 sides (buyer side and seller’s side).  In March, Island Real Estate sold 19 properties and 12 of them were on the island and on 2 of them we had both sides so we sold 14 sides in March.  In March we sold 24% of the properties sold on the island, just about our normal share of the market.  Also in March Island Real Estate put 20 properties under contract, 14 of them on the island.  You can see the sales are still coming strong.

In the broader regional market while the national market is slightly down, the median list price of homes for sale is up 3.73% in Sarasota-Bradenton and 11.17% in the Punta Gorda-Charlotte County markets from a year ago, according to the National Association of Realtors.  In Sarasota, the median home price is $250,000.  The national median is $187,900, down 0.05% from a year ago.  Meanwhile, inventories of homes in the Sarasota-Bradenton market, listed for sale by Realtors continue to shrink.  Sarasota-Bradenton’s 6,640 listings represent a 20.25% year-over-year decline but is 1.44% more than the previous month.  Days-on- market, the time it takes listings to sell is down 22% in both local markets and 9% nationally.  That can be borne out by many mainland Real Estate customers I’ve talk to have been in multiple offer situations.  In short the Island and regional markets are continuing to heat up.

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

Anna Maria Island, FL ALAN GALLETTO, Realtor; Real Estate Newsletter March 2013

 March NEWSLETTER 2013

Sales for February 2013 at 25 (SF-12, Con-13, Dup-0 & Lot-0) got back to par with February 2012 at 27 (SF-16, Con-8, Dup-2 & Lot-1). Sales for the first two months of 2013 were 43 (SF-20, Con-20, Dup-0 & lot-3) down 27% from 2012 at 55 (SF-29, Con-19, Dup-4 & Lot-3). Although we’re off to a slower start than 2012 it’s not significant if you look at sales activity, inventory and momentum I believe we will see as strong a 2013 as was 2012 as we get into the middle of the year. Sales for the last 12 months were 419 (SF-236, Con-127, Dup-23 & Lot-33) up 17% over the previous 12 months at 357 (SF-185, Con-128, Dup-19 & Lot-25). Of the sales for the last 12 months distressed properties were only 10% at 44 (SF-20, Con-21, Dup-3 & Lot-0) compared to the previous 12 months where 17% or 61 (SF-19, Con-32, Dup-7 & Lot-3) were distressed. Currently there are only 7 distressed properties in the inventory or .02% with all 7 being short sales. Pended properties (properties under contract) continue to be strong at 61 (SF-33, Con-11, Dup-12 & Lot-5) up from last month at 51 and the previous month at 38. Inventory on the island is 351 (SF-165, Con-109, Dup-32 & Lot-45) down from the previous months 366.
This month’s Frank, Larry and Al’s Great Buys have not changed from last month’s newsletter. The best properties from a rental standpoint are the ones closest to the beach preferably west of gulf drive. Currently there are only 19 properties for sale west of gulf drive and of those 19 only 8 are under $1 million. Of those 8 only 4 would be great rental properties. By great I mean cover all the operating costs plus all or most of the mortgage. The best of these 4 is still 2916 Avenue E at $629K which with 30% down covers all the operating cost and the mortgage. This property doesn’t require anything done to it to continue getting the $65K in annual rental income (I’ve attached the “Cost of Ownership” analysis in the back of this newsletter). The next best property from an investment point of view is 115 36th St listed at $599K. This property would need a pool and landscaping ($45K) but would generate in the neighborhood of $60K in gross annual rentals. The 3rd Property is 109 Cedar Ave. listed at $879K. It’s a 4 bedroom/2 bath, 1,412 sqft, with a pool very close to the beach. The fourth property is 3603 4th Ave listed at $959K with a pool a roof top deck and views of the gulf and inter-coastal (even the skyway bridge). Check out the virtual tours 3 of the 4 are on this month’s Frank, Larry and Al’s Great buys.
To summarize the island market sales since the beginning of 2011 have continued to build to a 30 year peak in 2012 to numbers that were only seen in 2004 and 2005. Single family sales were at an all time high in 2012 and we continue to see this trend. Single family sales in 2012 were 56% of the total sale compared to 51% in 2011. The distribution of single family sales for the last 12 months continues to hold at 80% <$700K, 94% <$ 1million and 6% over $1 million. We are starting to see more single family sales over $1 million and that’s a good sign for the high end market. Condo sales for the last 12 months were 79% <$400K, 91% <$500K and only 1 sale over $1 million. Single family sales over the last 12 months accounted for 56% of the total sales while condo’s accounted for 30% of the total sales or together for 86% of the total sales.
In the broader market, according to the National Association of Realtors, the median list price nationally is slightly down but is up 3.73% for the Sarasota-Bradenton market. Inventories in the Sarasota-Bradenton market, like the island, continue to shrink with 6,640 listings a 20.25% decline over a year ago. Interest rates continue to be at all time lows with 30 year fixed at 3.5%, 15 year fixed at 2.75% and 30 year fixed jumbo loans at 3.875%. No one knows when the FED will start raising interest rates but as soon as they see signs of inflation it won’t be long after that. Buy now if you’re going to buy mortgage money is not going to get any cheaper.

Read the entire newsletter at www.AlanGalletto.com

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

Anna Maria Island, FL. ALAN GALLETTO – Realtor; Real Estate Newsletter November 2012

                             NOVEMBER  NEWSLETTER  2012

           Sales continue at a record pace in October with 33 properties sold (SF-18, Con-8, Dup-2 & Lot-5) a 57% increase over October 2011 at 21 (SF-14, Con-3, Dup-3 & Lot-1).  October 31, 2012 Y-T-D sales were 362 (SF-196, Con-113, Dup-22 & Lot-31) up 22% over October 31, 2011 at 297 (SF-150, Con-112, Dup-12 & Lot-23).  Of the October 31, 2012 Y-T-D sales of 362 only 11% or 42 properties (SF-21, Con-17, Dup-4 & Lot-0) were distressed (bank owned or short sales) compared to October 31, 2011 Y-T-D in which 16% or 47 (SF-15, Con-25, Dup-12 & Lot-23) were distressed.  Sales for the last 12 months were 405 (SF-220, Con-127, Dup-26 & Lot-32) with 51 properties (SF-23, Con-22, Dup-5 & Lot-1) or 13% distressed.  Pended properties (properties under contract) continue to be very strong at 62 (SF-37, Con-14, Dup-7 & Lot-4) which bodes well for continued high sales for the next several months.  Due to the strong sales volume Inventory on the island continues to remain at historical lows at 302 (SF-148, Con-97, Dup-28 & Lot-29) up a tick from 298 last month but down from 315 in September. 

            Another two of Frank, Larry & Al’s Great Buy’s went under contract since the last newsletter.  The single family home with a pool west of Gulf Drive at 113 75th St listed at $629,000 and 5802 Imperiore, a single family 3BR/2bath with a pool listed at $449,000.  Both of these properties went close to their list price.  The best investment buy on the island out of the 149 single family properties for sale is still 2916 Avenue E listed at $629,000.  For someone looking for a great location (four houses to the gulf) to build a home but isn’t ready to build for a few years, this is the property to buy.  It does about $65,000 in gross annual rental income and with 30% down it pays all operating cost and the mortgage.  Just rent it for 4-5 years then tear it down and build a new elevated home which would have peaks of the gulf (Emily Smith, the local architect, has already done plans for this location).  Another sleeper is 108 36th St, a 3bedroom/2.5bath direct Gulf Front condo in Palm Gables, a seven unit condo association.  This owner bought it new and has never rented it but it would be a very good rental.

            To summarize the current market, with only a month and a half left to go, 2012 is shaping up to be as good a year as 2005 which was the best year for sales in the last 30 years on record.   We have been running about 20% ahead of last year in sales all year and if we only match 2011’s November and December sales we will end up over 400 for the year.  It will be the only year that sales were over 400 within the last 30 years except for 2005.  Another interesting fact is although sales for 2012 will come in just a little under the peak year of 2005, single family sales for 2012 will be higher than 2005 or any other year in the last 30 years.  Looking at the distribution of sales, with the end of the year close by, they are running at about what they have been running all year long.  The distribution of single family sales over the last 12 months were 49% <$500K, 69% <$600K, 80% <$700K and only 7% over 1 million.  The distribution of condo sales over the last 12 months were 80% <$400K, 90% <$500K, 96% <$700K and only 2% over 1 million.  The number of Distressed Properties (bank owned or short sales) continues to be extremely low as they have been all year at 5 (SF-3, Con-2, Dup-0 & Lot-0).  Of the sales over the last 12 months (405) only 13% (51) were distressed.  Of the October 31, 2012 Y-T-D sales (362) only 11% were distressed compared to October 31, 2011 sales (297) which had 16% (47) distressed properties.  As we have seen since the 2006 peak of almost 1,000 properties for sale the inventory has continued to come down to the normal of 450-500 properties for sale and now currently at the lowest it’s been since the peak years of 2003-2005.  The inventory on the island this month is at 302compared to 304 the previous month, 315 the month before that and 434 in October of 2011.  Pended properties (properties under contract) are currently at 62 (SF-37, Con-14, Dup-7 & Lot-4) which means sales will continue strong over the next couple months.  Currently the majority of properties are selling within 5% of list price with some selling at list.  The island market is strong and we should see modest appreciation again this year.

Call me, Realtor: ALAN GALLETTO

941.232.2216 of Island Real Estate.  www.AlanGalletto.com