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 75^th 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 36^th 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

The post Anna Maria Island, FL. ALAN GALLETTO – Realtor; Real Estate Newsletter November 2012 appeared first on Galletto Team - Anna Maria Island Luxury Real Estate.

Anna Maria Island- 300 South Bay front Offices

Truly one of a kind Commercial Space w/ FULL, unparalleled water views of Sarasota Bay and Intracoastal Waterway. Ideally located one block south of historic Bridge Street, Municipal Pier and the famous Icon Clock Tower on Sarasota Bay. Within 1 or 2 short blocks of many eateries, lounges and shops. All Ground level, handicap accessible space with your own Kitchenette and Bath. Lush landscaping, 4 parking spots at door and 2 covered spaces as well as public parking ½ block away. Take a break at the pool/spa or private dock associated with Old Bridge Village. New Concrete construction in 2004, Impact Glass windows and doors. Beautifully finished base, casings, crown moldings, 6 panel doors and exquisite lever hardware, paddle fans in all offices. “Everclean Green” self cleaning filter system, UV destroys 98% germs, toxins & dust in 2009.

Office #1

**Some C-1 Zoning permitted uses: **See zoning codes for other uses**

PROFFESIONAL OFFICES; Accountant, Architect, Attorney, Dentist, Doctor/Allied healing Professional.
SALES OFFICES; Brokerage, Insurance, Real Estate, Travel.
SERVICE ESTABLISHMENTS; Financial, Stenographer, Animal Grooming, Barber/Beauty Shop,
RETAIL STORES; Appliance, Gifts, Pharmacy, Bakery, Books, Camera, Florist, Clothing, Hobby, Crafts or similar retail uses.

This property is w/in the HISTORIC OLD TOWN overlay district.

Office # 2 Conference Room

Conference room for Office #1 over looking Bay

Reception over looking Bay

Office #2

Pool and Hot Tub

Old Bridge Village Pier

The post OFFICE/RETAIL COMMERCIAL SPACE 5 ROOMS :: $299,999:: 300 BAY DRIVE SOUTH, BRADENTON BEACH, Anna Maria Island, FL Real Estate, Alan Galletto Realtor appeared first on Galletto Team - Anna Maria Island Luxury Real Estate.