Real Estate Broker/Associate (941) 232-2216
Posts tagged Florida Gulf Coast
JUNE 2010 Real Estate Newsletter ALAN GALLETTO, Realtor; Anna Maria Island, FL.
Jun 23rd
May continues the strong sales performance we have been seeing since mid 2009. There were 28 properties sold in May (SF-20, Con- 6, Dup- 1 & Lot- 1) compared to 23 (SF- 11, Con- 10, Dup- 2 & Lot- 0) in 2009. Island Real Estate sales continue to be strong in May with 12 properties put under contract and 12 closings in May (10 of them on the island 36% of the island sales for May). As you can see from the charts below Y-T-D through May 31, 2010 sales are up 64% over the same period in 2009. Average and median sales prices are still trending up for single family and multi-family properties and condos are still down due mostly to the skew of sales so far this year to the low end. The number of properties sold in the last 12 months is up again to 282 which reflects the strong sales in the second half of 2009 and continuing into the first half of 2010. If this continues we will do well over the average of 250 sales per year on the island. Pending sales (properties under contract) continue to be strong with 66 properties ( SF-38, Con- 20, Dup- 4 & Lot- 4) currently pended.
Inventory which was at 543 last month has stayed flat at 549 (SF- 261, Con- 192, Dup- 44 & Lot- 52). Over the past 10 months it has fluctuated between 498 and 575. The continued strong pended sales will put downward pressure on the inventory. Distressed properties (short sales and bank owned) are currently at 47, about the same as this time last month. Distressed sales continue to be about 8% of the inventory and 20% of the sales.
There continues to be some great opportunities out there for some great buys. The special email that I sent out a few weeks ago on a short sale at Starfish Beach condo (a 4 unit condo complex like Palm Isle Village) we have already put under contract this week. Those good buys go fast. There are some great opportunities on Frank & Al’s Great Buys this month. For those looking to build a new canal home 718 Key Royale Dr. is a terrific buy at $399,000. This is the lowest price water front lot for sale on the island. There is also a set of plans for a 3,300 sq ft home that goes along with it. With building cost down to $100-$125/sq ft (compared to $300/sq ft at the peak) now is the time to build that custom canal home. For those of you looking for a 2bedroom/2 bath condo close to the beach, 3702 6th Ave unit 4 is a great buy at $259,000. It’s a block to the beach and with a new kitchen, two large porches you can’t buy anything this close to the beach at this price. On the luxury end 108 36th St the new condo unit at Palm Gables listed at $1,490,000 was custom built for this owner and has never been rented. This unit has great panoramic gulf views and would be a terrific rental. Last but not least 200 & 202 38th St., which is a short sale, is a good buy at the list price but who knows what the bank will accept. I think a good offer to the bank for both units would be $1.2million to 1.3million which at $1.3 million would be a steal ($650K a unit) for these 3,100 & 2,500 square foot units. They currently do $55K and $65K in rentals and with a little “fluffing” and “buffing” (spending under $10K) they could easily do $70K and $80K. Palm Isle Village is still the best buy on the island for one and two bedroom condos close to the beach. With 25% down, they just about break even after tax, and there is nothing else on the island that matches this investment.
As I stated last month, the number of sales transactions are significantly up but the distribution of sales are skewed to the low end with 90% of the sales under $700K. In spite of this the average and median sales prices are trending up. The sales by quarter chart will not be updated until the end of June but with 56 properties sold in April and May, the Q2-2010 trend will be significantly up. In summary the number of sales on the island is significantly up while sales prices are down about 35% from the peak in 2006. Inventory is settling down to historical norms and distressed properties are stable and low. Sales for May were up 22% from last year and Y-T-D sales through May of this year were up 55% over last year.
May 2010 Real Estate Newsletter ALAN GALLETTO, Realtor Anna Maria Island, FL.
May 19th
April sales continues the strong sales performance for 2010 and the sales activity remains very strong here on Anna MAria Island, FL. There were 28 properties sold in April (SF-16, Con-11, Dup-1 & Lots-0) compared to 21 (SF-10,Con-9,Dup-1 & Lot-1) in 2009. Island Real Estate sales continue to be strong with 10 properties put under contract and 9 closings in April (32% of the closing on the island). Since January 1st I, Alan Galletto, have personally closed over $6,000,000 worth of property. From the charts below Y-T-D through April 30, 2010 sales are up 66% over the same period in 2009. If you look at the Year end 2009 average & median sales prices and compare them to the previous 12 months and April 30, 2010 average & median sales prices you can see that single family homes, duplex’s & lots are trending up and condos have leveled off. If this trend continues we will see some appreciation in properties by the end of the year. Again, this month the properties sold in the last 12 months are up to 275 compared to the previous 12 months of 267. This is also a very good trend and shows sales on Anna Maria Island, FL. continuing to increase. Another good sign in the market is pending sales (properties under contract) is very strong at 71 (SF-46, Con-18, Dup-3 & Lot-4). Last month at this time there were 63 properties pended. Inventory, which last month had bumped up to 567, has dropped down to 543. Over the last 9 months it has been fluctuating between 498 and 575. As I said above, sales look to continue to be strong over the next several months which will continue to pull the inventory down. Distressed properties (short sales & bank owned) last month dropped to 33 and this month bumped up to 43. Distressed properties on Anna Maria Island, FL continue to be low at 6%-8% of the inventory compared to 26% on the mainland.
For another consecutive month one of Frank Davis & Alan Galletto’s Great Buys has gone under contract. The canal home at 521 69th St. Holmes Beach on Anna MAria FL. went under contract and is due to close the end of June. This month we still have 5806 Imperiore, Holmes BEach on Anna Maria, FL. listed at $389,000 a 2 bedroom/2 bath totally remodeled and turnkey furnished. For those of you looking for an entry level condo 100 yards to the beach check out 3702 6th Ave. #4 Holmeas Beach, Anna Maria FL. now listed at $259,000. You can’t get this close to the beach for this price. We still have our luxury picks 108 36th St. Holmes Beach on Anna Maria Island, FL. a beautifully appointed condo in Palm Gables listed at $1,490,000. You have to see this property to appreciate it. Also please check out 200/202 38th St. Holmes BEach on Anna Maria Island, FL. ($895K & $775K) a two unit gulf view condo well under market for units with Gulf Views.
Check my web site www.AlanGalletto.com to look at the average and median sales prices at the end of 2009 and compare them to the last 12– 75% of the total sales were months sales and the 2010 year-to-date sales you can see that all four types of properties average & median sales prices are trending up. That, along with a continued increase in sales volume, are all good signs for the island market. What is also interesting is that the average & median sales prices as well as sales volume are up and at the same time high end sales are only a small fraction of the total sales. In 2006 – 56% of the total sales were under $700K. In 2007- 78% of the total sales were under $700K. In 2008 under $700K. In 2009 – 90% of the total sales were under $700K. In 2010 Y-T-D through April – 92% of the total sales were under $700K. You can see that although the number of sales are up, a smaller proportion of the total sales are over $700K than in previous years. That would understate the increase in average and median sales prices. The sales by quarter chart shows just the first quarter of 2010 until we get the full 2nd quarter numbers but based on Aprils sales and the strong pended contracts I would expect the sales to continue trending up.
Next month begins hurricane season (June 1 – November 30) so I’ve included an updated map of all the US hurricane landfalls from 1950 – 2009 which shows that the Florida west coast is less vulnerable than most of the US coastline.
Keep those calls and e-mails coming! We love hearing from you……Alan & Frank
Ask Alan -THE Realtor for other great real estate on Anna Maria Island, FL.
Call Realtor ALAN GALLETTO 941.232.2216 of Island Real Estate.
DUPLEX 2 BR/2BA each side :: $389,000 :: 311 63rd St, HOLMES BEACH, FL
May 13th
This very spacious duplex has 2 bedrooms, 2 baths on both sides. One unit runs the front of the home with a large enclosed Lanai, porch area and a Two Car Carport
, plus open spaces for 2 more cars. The other is very private along the back of duplex with 2 large enclosed Lanais, Porch area and open parking space for 2 Cars in the front of the house. Close to Trolley stop, library, shopping, and public sports area. 3 blocks to the beaches of Anna Maria FL.
Ask Alan -THE Realtor for other great real estate on Anna Maria Island, FL.
Call Realtor ALAN GALLETTO
941.232.2216 of Island Real Estate. www.Alangalletto.com
April 2010 Real Estate Newsletter ALAN GALLETTO, Realtor Anna Maria Island, FL.
Apr 13th
Sales continue to boom on Anna Maria Island with 34 properties sold in March (SF-21, Con-5, Dup-5 & Lot-3) versus 17 (SF-10, Con-5, Dup-1 & Lot-1) in 2009. After lower than normal sales (less than 20 per month) in the first half of 2009, sales went to higher than normal (over 20 per month) in the last half of 2009 and continued right into the first quarter of 2010. As you can see from the charts below sales for the first quarter of 2010 were 74 properties versus 41 for the first quarter of 2009, an 80% increase. Sales continue to look strong over the next couple months as well with pending sales at 63 (SF-33, Con-23, Dup-4 & Lot-3). Island Real Estate continues to show strong sales with 14 new contracts and 14 closings in March. I have sold 12 properties in the last six months totaling $10,391,000 in sales. As you can see from the historical graphs, single family and multi-Family transactions are trending significantly up. Average sale prices for single family, Multi-family & condos also are trending up. In the last 12 months there were 267 properties sold as compared to the previous 12 months of 250 which again reflects very positive sales growth. Based on these trends I feel we will see sales for 2010 of over 250 properties on the island.
Inventory has bumped up about 5% this month to 567 (SF-277, Con-200, Dup-45 & Lot-45). The increase was primarily in single family homes and because of the strong sales over the last 9 months I think the inventory will flatten out to below 500 in the next few months. Still the inventory is at a two year low. Distressed (short sales, foreclosures & bank owned) properties have dropped from 45 last month to 33 this month or 6% of the inventory. Of the 267 properties sold in the last 12 months about 20% of them were distressed properties 56 (SF-22, Con-25, Dup-7 & Lot-2) versus 50% of the sales on the mainland in Manatee County.
Another one of Frank & Al’s Great buy’s from last month went under contract. A cute little island cottage, 2305 Ave B listed at $339,000, is under contract and is due to close by the end of April. For those of you who feel they missed out and are looking for something similar, check out this month’s recommended entry level single family home 5806 Imperiore listed at $389,000 a 2 bedroom/2bath totally remodeled island cottage 2 blocks from the beach. For a great condo buy don’t forget Palm Isle Village, the 11 unit 1 and 2 bedroom condos across the street from the beach. There are 7 units left for sale and the Cost of Ownership on these are the lowest on the island. You can own one of these units for $57/month to $343 per month. The single family home at 4002 6th Ave. listed at $400K that I said was the best buy for single family homes last month went under contract….you have to move fast. The best new condo buy, by far, on the island is 108 36th St Palm Gables listed at $1,490,000. This 3 bedroom/2.5 bath unit is exquisitely decorated and furnished. The quality of this direct gulf front unit is surpassed only by Vista Grande who’s only two units that were for sale closed last month.
If you look at the sales by quarter chart you can see that from the peak (Q2-2005) quarterly sales on the island has only popped up above the average for two quarters until Q2-2009. Since Q2-2009 it has been consistently above the average quarterly sales. This is consistent with the fact that we have had strong sales from mid 2009 right into the first quarter of 2010. I personally have sold 12 properties in the last six months which adds up to $10,391,000 so you can see things are very healthy. The good deals on the island for people willing to do major renovation are becoming fewer and fewer but there are still great buys across the board because of the current market pricing. Of the 267 properties sold in the last 12 months Island Real Estate sold over 20% of them and half of those we had both sides of the sale. Another mile stone was that our website had over 100,000 hits per month in February and March. That means somewhere around 75-80% of the people searching the island are hitting our website. The market is good in Paradise….hurray and get a piece.
Keep in touch, we love to hear from you……….Alan & Frank
3BR/3BA Luxury Gulf Front:: $1,490,000:: 7316 Gulf Drive #8 Holmes Beach, FL
Apr 1st
Elegant luxury living on Anna Maria Island with views of the Gulf. 2-3BR/3BA condo in La Casa Costiera, a 12-unit complex right on the Gulf of Mexico. Private elevator and 2 garage spaces. Enjoy the heated pool and spa – feels more like living in a home than a condo. This is the only condo building that has windows on all 4 sides like a house! Bring in the SUNSHINE and the views of the beautiful sunsets over the GULF of MEXICO!! Great seasonal rentals.
MARCH 2010 Real Estate Newsletter ALAN Galletto, Realtor Anna Maria Island, FL.
Apr 1st
Sales for February were much stronger than last year with 26 properties sold on the island (SF-13,Con-9, Dup-3 & Lot-1) versus 9 (SF-5, Con-3, Dup-0 & Lot-1) in 2009. February sales of 26 are the highest in the last 20 months except for December which were 28. As you can see from the charts below, property sales on the island thru February this year are 40 versus 24 in 2009. As I said in last months newsletter, pending sales continue to be strong (in the 50‘s and 60’s) which bodes well for continued strong sales numbers. Current pending sales are 57 (SF-33, Con-18, Dup-2 & Lot-4). Island Real Estate continues to show a strong number of contracts (Nov-9, Dec-9, Jan-12 & Feb-12). If you look at the last 12 months sales in the chart below, both the average sale price and the median sale price are trending up as is the total number of sales in the last 12 months. We ended 2009 with 224 properties sold for that 12 month period and you can see that in the last 12 months there were 250 properties sold.
Inventory has bumped up about 10% over the last 2 months and is currently at 541 (SF-261, Con-193, Dup-43 & Lot-44). The Inventory hit a five year low in January at 498 and two thirds of the increase since then has been in single family homes and the other third in condos. The number of Distressed (short sales, foreclosures & bank owned) properties continue to remain at 8% of the inventory and about 18% of the sold properties over the last 12 months. This again shows that buyers are still grabbing the best deals first. Compared to distressed sales in Manatee County, which are 50% of the sales, the numbers on the island are in line with the percent of the inventory that is distressed.
Frank and Al’s Great Buy’s are going like hot cakes. Last month’s luxury pick 5622 Gulf Drive condo (Vista Grande #2) went under contract for very close to the list price of $1,799,000 and will close by the end of March. Vista #1 closed in February for $1,650,000 and that makes all four of the units in Vista Grande sold. Palm island Village condo’s are still the best buys on the island with the ratio of list price to rental income in the 8,9 & 10 range (lower is better on this ratio) which is much lower than anything on the island. These units will just about break even with a 30% down payment. Last month we closed another unit at Palm Isle Village unit 3203 Gulf Dr. (2bedroom/2bath) for $439,000. If you want a new ground level condo, in a great location that will cover all operating expenses and a 70% mortgage, Palm Isle Village is the place to buy. The next best buy on the island is 4002 6th Avenue a 1,500 sq ft home built in 2000 3 bedrooms/3 baths a block to the beach listed at $400,000. It was just reduced to $400,000 so I don’t think it will last long (see Frank & Al’s Best Buys). If you’re looking for a canal home the two best buys are first 610 Hampshire Lane which fronts on the golf course and has the big canal in the back. It’s 1,911 sq ft 3 bedroom/2.5 baths and needs to be updated but it has great bones and in a great location and listed at $559,000. If you want to be in Key Royale and have a view of the canal but not be on it then 678 Key Royale Drive is a great buy. It has been updated with new tile, new kitchen, new A/C and new windows and has 3 bedrooms/ 2 baths and is 2,160 sq ft with a large back yard with plenty of room for a pool. It is listed at $355,000. Call me for more information on these properties.
This month we have a new graph, for those of you interested, of the quarterly sales of all types of property on the island from the first quarter of 2005 to the current quarter. Since the peak in Q2-2005 and the precipitous drop in transactions in 2006 you can see the steady trend up in transactions as the prices came down compared to the historical average of 60 properties sold per quarter.
Tourism on the island continues to remain strong. Island Real Estate continues to lead with marketing efforts on the World Wide Web for both real estate sales and vacation rental searches. It is Island’s strong marketing campaigns that generate above average income levels for our rental owners. Driving around Anna Maria Island I saw a lot of competitor vacation homes empty in the month of February. If your investment rental is not with Island Real Estate and you think we might be able to help please give me a call. I can help get the right personnel to answer any questions you may have about our property management services.
Custom 3 bed/2 bath elevated master piece:: 811 South Bay Blvd City of Anna Maria, Island FL :: $949,000 reduced to $899,000
Mar 17th
This Custom home is spectacular, from the Brazilian walnut floors to the southern white pine tung and groove cathedral ceilings. The magnificent kitchen and baths are eloquently remodeled, stair handrails of Cyprus. The outdoor decks are made of “Iphe” which is impervious to water and has sap that repels insects making your outdoor experience a pleasure. The back yard boasts a private outdoor shower and patio area to welcome you home from the beaches of the bay across the street and room for a pool. A large workshop and over sized garage exceeds most needs plus under deck parking bodes 4 vehicles under cover. Be sure to ask for the list of “Special Features” and write up in SRQ premiere Magazine.
• This home invites you to view a West Indies Style with custom cabinetry and Arts and Crafts trim.
• Everything in this home has been designed and remodeled within the last two years with impeccable emphasis on details throughout.
• Attention to detail is evident from every angle.
• Living room looking all the way through the dining room to the stunning kitchen.
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The custom designed kitchen with cherry and maple wood cabinets. A gorgeous Granite countertop with lots of room for entertaining blends beautifully with the hard wood floors and stainless steel appliances.
• The entire upstairs is a master retreat boding a Jacuzzi for two and a shower any spa would be proud of! The walk in custom closet has all the amenities you could hope for. The bedroom has glimpses of Tampa Bay.
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The “walking garden” a lush landscape of salt-tolerant plants leads to a welcoming back porch and lower deck. The shoji-style outdoor shower makes it refreshing to wash the bay sand and salt water off before going indoors.
• Glorious front porch looking out to Tampa Bay lends to a spacious entertainment area.
• Looking over to Tampa Bay the tropical breezes sway the coconut palms.
• The house sits seemingly as a tree house with a very private and quiet location in the eclectic city or Anna Maria. The beautiful beaches of Tampa Bay are just across the street!
February 2010 Real Estate Newsletter Anna Maria Island FL Realtor Alan Galletto
Mar 17th
February 2010 Newsletter
Well we just got the numbers for sales in January and 2010 looks to be starting off about even with 2009 with 14 properties sold in January (SF-8, Con-5, Dup-0 & Lot-1) compared to 15 (SF-9, Con-4, Dup-2 & Lot-0) last year. Of course one month’s data doesn’t tell us much but there are some other indicators that point to a strong 2010. First, pending properties continue to be strong with 62 (SF-33, Con-18, Dup-6 & Lot-5) properties under contract. For the last 6 months pended properties have been in the 30’s and 40’s with the last three months being in the 50’s and 60’s. Another healthy indicator is the number of properties Island Real Estate has put under contract the last several months (Nov-9, Dec-9, Jan-12) and we have 9 already for February. To put that in prospective last year 224 properties were sold on the island (just under 19 per month on average) and we account for 20-25% of the island sales. You can see that bodes well for stronger sales in 2010 than 2009.
Inventory for this month has bumped up a little to 532 (SF-264, Con-188, Dup-39 & Lot-41) from 498 last month but last year at this time the inventory was at 616. Last year we had a similar bump up in inventory in February and then it continued down over the rest of the year so we will see how the next couple months will go. Of the properties on the market the distressed (short sales, foreclosures or bank owned) properties are still running consistently below 8% yet as you can see from the tables below, of the number of properties sold over the last year about 20% have been distressed properties. That says that buyers are grabbing up the best deals first. Another interesting number is that even thought the number of sales on the island for the last year has been in the normal range, 98% of the properties bought have been below $700,000. For the State of Florida as a whole, 50% of the properties sold in the last 12 months have been distressed. The Manatee County numbers of the per cent of properties sold in the last 12 months that were distressed properties is 47%.
For those of you who are interested in what the trends are in Manatee County I’ve attached charts that show the inventory, sales, and median & average sales price trends for single family and condos for the last 12 months. The net, for those of you not interested in the detail, is Inventory has been slowly trending down over the last 12 months for both single family and condos. Single family average & median sales prices have trended up slightly while condo average and median sales prices have trended down.
The best condo buy on the island right now is in Palm Isle Village. Since lowering the prices about a month ago we closed unit 3207 in January for $310,000 and Unit 3203 this month for $439,000 and there is a lot of activity on the remaining 7 units. These units come very close to paying for themselves after all expenses and a 75% mortgage. If you pay cash they through off a healthy net positive cash flow. This is the 3rd year we have been renting the PIV units and they are terrific rentals. Give me a call for the details on any specific unit. See the complex at
Rentals are very strong this year with IRE rentals, as of this writing, up 20% in January, 10% in February, 35% in March over last year. The summer rentals are also looking strong with bookings as of this date up 40% to 70% over this time last year. Other new news, Island Real Estate has made a significant investment in a 10’ box truck that we are outfitting with all the normal supplies and tools to fix properties onsite without having to use high cost vendors. It will allow us to respond immediately to minor issues and satisfy the guests problem faster so they can enjoy their stay. We think this is a huge win for our guests, owners and IRE. Another exclusive from IRE.
In summary the island market sales are in the normal range for our market. We are still in the high side of normal for inventory and have to burn off a little more to get to a balanced market. There are still some “deals” on the island from a price stand point but not many left that are good rentals. Sales continue to be strong with pended sales at a two year high. Interest rates are expected to rise over the next six months so it looks like rates today are as low as they are going to get.
January 2010 Real Estate Newsletter Anna Maria Island FL Realtor Alan Galletto
Feb 5th
Another year comes to a close and the Anna Maria Island market continues to show stabilization and improvement. Sales for December 2009 were again over 200% (SF-12, Con-14, Dup-2 = 28) of December 2008 (SF-9, Con-3, Dup-1 = 13). Sales in the first half of 2009 started slower then 2008 (30% lower) but sales for the last 6 months of 2009 where 73% higher than the last 6 months of 2008 ending the year 224 vs 211 in 2008. The momentum continues in the right direction with pended sales continuing to be strong at 46 (SF-22, Con-16, Dup-4 & Lot-4).
Distressed properties (short sales, foreclosed & bank owned) continue to be low on the island at 39 (SF-13, Con-22, Dup-3 & Lot-1). As you can see, over half of them are condos and condos have taken the biggest hit as far as values are concerned but distressed properties continue to remain below 8% of the inventory. Inventory has dropped below 500 to 498 (SF-242, Con-181, Dup-37 & Lot-38) for the first time since 2005. That’s a very good sign for the market. The inventory continues to trend down while the sales trend continues up.
On the financing side, interest rates have remained at all time lows well under 6% and now is the time to take advantage of this phenomenon. Condos are still the hardest to finance but with good credit and 25% down on a permanent residence and 30% down for a 2nd home you can still get financing. Single family and multi-family properties can still be financed with as little as 10% down. Some advice for those of you who are seriously planning to buy something and finance it, get to a banker or mortgage broker early even before you start looking for a property. The banks have more rules and regulations to adhere to then before. It’s not that there are more rules and regulations it’s just that before they could be by-passed but now they can’t. If you talk to the bankers before you make an offer they can advise you how to prepare so that the financing process will go much smoother, and, in many cases, even mean the difference between getting the loan or not. For those of you who are over 62, have sold a permanent residence, are looking to buy a new permanent residence on the island and don’t want to put all of their equity into the new home there is a produce called Reverse Mortgage for Home Purchase. This allows you to buy a new permanent residence on the island and not have any mortgage payments as long as you live there. If anyone wants more information contact me and I’ll direct you to a banker who specializes in this product. By law a banker who sells this product can’t sell the regular residential mortgages and vice versa. The conventional wisdom in the financial community is that by summer rates are going to go up to 6.5 or even 7% so now is the time to buy while rates are low and prices are at their lowest.
Check out Frank and Al’s Great Buys his month. If you’re looking for a direct Gulf Front condo that has fantastic views of the gulf, has exquisite interior finishes and is a great buy take a look at 108 36th St. in Palm Gables. The unit next door, which is not as well done, just sold for $1,700,000 and 108 36th St is listed at $1,490,000….a great value. For those of you looking for an entry level single family home on the island we have 204 Archer Way ( 2BR/2Bath) listed at $349,000 and 2305 Avenue B ( 3BR/1,5Bath) listed at $339,000. Just to put the pricing in perspective, the lowest priced single family homes sold over the last 12 months were sold in the mid $200,000’s (there were only 5 of them out of the 119 sold) and were fixer uppers. Remember low prices + low interest rates = more property for the dollar.
For those of you who are looking for a place to live where you will be happy The Centers for Disease Control and prevention did a survey measuring happiness. The survey used data collected over 4 years that included a question asking people how satisfied they are with their lives. The top 5 happiest states are Louisiana, Hawaii, Florida, Tennessee and Arizona. The bottom 5 states were New York, Connecticut, New Jersey, Michigan and Indiana…….surprise, surprise….think it has anything to do with the sun and weather?
To summarize, 2009 has closed strong with 224 properties sold on the island very much in the historical normal range. Inventory has reached the historical level of below 500 ending the year at 498 and continuing to inch down. Pending properties (properties under contract) are strong at 46 carrying strong sales into 2010.
Pine Avenue – Residential over Retail City of Anna Maria Island, FL. Real Estate ask realtor Alan Galletto
Jan 17th
THE VISION - An ‘Old Florida Style’ village center on Anna Maria Island, Fl sprinkled with beach cottages, professional offices and retail-boutique shops to serve the surrounding community.
ANNA MARIA ISLAND, FLORIDA & PINE AVENUE – Known for its unspoiled crystal white sand beaches, its relaxed ‘Old Florida’ lifestyle, friendly residents, great restaurants, gorgeous views of the Bay and one-of-a-kind shops.
THE INVESTMENT - The first phase construction of 315 & 317 Pine Avenue is now complete; custom 1,270 to 2,000 square foot (s/f) residences with up to 615 to 2,500 s/f office/retail below are offered at current market valuations. This gives the opportunity to participate in a great idea.
More information about the pine Avenue project can be found on this website: www.pineavenuesales.com
Please enjoy the YouTube video about this Pine Avenue project and call me with your inquiries about investment in this unique Florida lifestyle.
Alan Galletto
6101 Marina Drive
