Florida Archives ⋆ Galletto Team - Anna Maria Island Luxury Real Estate

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

Larry — Wed, 21 Nov 2012 18:30:56 +0000

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 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

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

Larry — Mon, 25 Jun 2012 16:03:05 +0000

APRIL NEWSLETTER 2012

Sales for March 2012 were 39 (SF-26, Con-11, Dup-0 & Lot-2) about equal to March 2011 at 40 (SF-14, Con-18, Dup-4 & Lot-4) but sales for the first quarter continue to be very strong. Sales for January 1, 2012 through March 31, 2012 were 93 (SF-55, Con-29, Dup-4 & Lot-5) up 20% compared to January 1, 2011 through March 31, 2011 at 78 (SF-32, Con-35, Dup-5 & Lot-6). Sales for the last 12 months were 355 (SF-197, Con-120, Dup-15 & Lot-23) compared to the previous 12 months at 322 (SF-175, Con-110, Dup-20 & Lot-16). Again single family average and median sales prices are significantly up over the previous 12 months. Condo average and median sales prices are also up over the previous 12 months but not as much as single family. Currently there are 16 distressed Properties (SF-9, Con-6, Dup-1 & Lot-0). Of the 16 distressed properties 5 are bank owned and 11 are short sales. Pended properties (properties under contract) are again very strong at 76 (SF-49, Con-18, Dup-4 & Lot-5) compared to 60 last month which again bodes well for future sales. The inventory continues to drop to historic lows. It currently is at 369 (SF-166, Con-132, Dup-26 & Lot-45) down again from last month at 403 and last year at this time at 496.

With the inventory falling to historic lows the number of properties in good rentable locations are becoming scarce. By good rentable locations I mean properties that either as is or with some modification can provide a 10 ratio (purchase price/gross annual income) or less. Properties in this category have rental income that can pay all operating expenses plus most of the mortgage with a 30% down payment. This month’s Frank, Larry’s & Al’s great Buys have eight properties that meet that criteria. The six condos in Island Garden Villas complex are great buys in the under $400K price range. See the complex and virtual tours at www.gardenvillasales.com . If you have a little more to invest 2916 Avenue E is a fantastic rental grossing $65K-$70K annually. It’s a totally remodeled pool home 4 houses to the beach. Currently the best buy on the island is 321 64th St. listed at $399,000. It’s a townhouse type condo in a 12 unit complex with only two units to a building. Each unit has its own private back yard and pool which makes them feel more like a single family home than a condo yet you get all the benefits of condo living. It’s 3 bedrooms/2.5 baths and 2,001 sq ft and its rental potential is about $40K gross annual income. There is nothing like it at that price.

To summarize the island market sales continue to be very strong while the inventory continues to shrink. High demand and low supply continue to push prices of single family homes and condos up. Also because of the high demand and low supply we are seeing multiple offers again as well as property selling over the list price. We recently had a direct bay front lot listed at $2.9 million receive two offers and finally sell over the list price. I recently had three offers on a conforming duplex which bid the price up. Duplexes are only 5% of the property sales as are lots so there are not enough transactions to see a trend in the prices of these types of properties. Over the last 3 years many conforming duplex’s were torn down to build new land condos which has depleted the inventory of duplex’s on the island especially conforming duplex’s. You can see from the inventory absorption chart that based on current sales levels there are under 12 months of inventory available. Of the single family homes sold in the last 12 months the prices ranged from $160,000 to $2,650,000 and 79% were below $700K and 21% above $700K and 8% were above $1,000,000. Of the condos sold in the last 12 months the prices ranged from $87,000 to $2,075,000 and 97% were below $700K and 3% above $700K and 2.5% above $1,000,000. Of the sales over the last 12 months only 17% were distressed properties versus the sales over the previous 12 months where the distressed properties were 27% of the sales. I’ve included again this month the demographics of the island from the 2010 census which several of you have asked to see again. Hope you enjoy April’s newsletter.

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January 2011 Real Estate Newsletter ALAN GALLETTO, Realtor; Anna Maria Island, FL.

Alan Galletto — Sat, 15 Jan 2011 20:29:35 +0000

Happy New Year – 2010 turned out to be a banner sales year on the island. With 2009 the year of stabilization and improvement, 2010 was the year of the market poised to turn up, 2011 will be the year of a modest increase in prices. December 2010 sales were 36( SF-20, Con-14, Dup-1 & Lot-0) up 29% over December 2009 at 28 ( SF-12, Con-14, Dup-2, & Lot-0). Sales for 2010 were 317 (SF-185, Con-94, Dup-23 & Lot-15) up 35% over 2009 at 234 (SF-118, Con-94, Dup-10 & Lot-12). Sales for 2010 were the highest since 2005, the peak year on the island, with sales of 478. To put that in perspective, sales for 2006 were 166, 2007, 184, 2008 were 211 and of course 2009 were 234. Of the 317 properties sold in 2010, 91(SF-46, Con-32, Dup-11 & Lot-2) have been Distressed (short sales or bank owned) properties or 28% of the sales. Compared to 2009 when of the 234 sales, 43 (SF-15, Con-22, Dup-4 & Lot-2) were Distressed properties or 18% of the sales. Distressed properties are currently at 36 (SF-16, Con-14, Dup-5 & Lot-1) which is about 6% of the inventory. Pending sales (properties under contract) are down a little from previous months to 38 (SF-19, Con-15, Dup-1 & Lot-3) but still healthy. Island Real Estate had another strong month in December with 10 properties closed and 6 new contracts. Inventory on the island is currently at 518 (SF-256, Con-178, Dup-35 & Lot-49). The island inventory has been holding at around the very low 500’s for the past five months.
As you have seen, sales were very good last year in our island vacation market but that has been true across the country in vacation home markets. I’ve included an article from the Wall Street Journal on January 10, 2011 “Market for Vacation Homes On the Rise”. The article states that “Sales in many vacation communities across the U.S. soared last year to levels not seen since the boom times, driven by deep discounts, cash purchases and buyers rising stock portfolios.” Examples are Hilton Head Island S.C. rose 14% and Palm Beach, FL. Experienced a 40% annual increase in sales. They go on to say “The question now is whether the momentum will last. The strength of second-home sales paints a stark contrast to the overall housing market, which is expected to worsen in 2011”. “The proverbial train has left the station,” said Ned Monell, an agent with Sotheby’s International Realty in Palm Beach. “We haven’t felt energy like this in a long time. Buyers sense that they’ve been on the sidelines long enough.” Read the full article at the end of the newsletter.
Two more properties from Frank & Al’s Great Buy’s were put under contract since the last newsletter, 612 N Bay Blvd. and 3210 6th Ave (Palm Isle Village). At Palm Isle Village that leaves only three units left (3205, 3204 & 3201) and these units have the lowest cost of ownership of anything on the island especially in the $300K – $500K price range. If you check out the Great Buy’s sheet I’ve listed several that have either great rental income or have the potential, with minor improvements, to have great rental income. If you’re looking for an investment home or a second home that will pay the operating expenses and a large part of the mortgage than check out the last four properties on the list. A great canal buy is 618 Hampshire Lane listed at $695,000. It fronts on the golf course and backs up to the large canal off Bimini Bay which feeds most of the canals in Key Royale. The only downside is it’s next to our house (only kidding, just wanted to see if you were awake).
In summary, sales of property on the island have continued to increase from 2006 at 160 properties to 2010 with 317 properties sold, well above the average of 250 and the highest level since 2005 (478) and almost equal to 2003 (325). The average sale price of single family homes and multi-family homes look poised to start trending up while condos still have a way to go. The inventory is very close to normal levels. The next thing to look for is a drop below 500 and at that point it should start to drive up sales prices.
JANUARY 1, 2010 – DECEMBER 31, 2010 SALES ON ANNA MARIA ISLAND
# Sold Lowest Highest Avg. Price Sold Median Price Sold
HOMES 185 $154,000 $2,350,000 $512,596 $465,000
CONDOS 94 $29,000 $1,667,000 $292,077 $239,450
DUPLEXES 23 $170,000 $1,360,000 $392,326 $357,500
LOTS 15 $200,000 $850,000 $406,727 $345,000
TOTAL 317

JANUARY 1, 2009 – DECEMBER 31, 2009 SALES ON ANNA MARIA ISLAND
# Sold Lowest Highest Avg. Price Sold Median Price Sold
HOMES 118 $160,000 $950,000 $518,276 $452,500
CONDOS 94 $109,900 $1,700,000 $353,806 $282,250
DUPLEXES 10 $181,000 $505,000 $399,083 $379,829
LOTS 12 $287,000 $850,000 $414,350 $355,000
TOTAL 234
Keep those calls and e-mails coming! We love hearing from you……Alan & Frank

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OCTOBER 2010 Real Estate NEWSLETTER -Alan Galletto, Realtor; Anna Maria Island, FL

Alan Galletto — Sat, 09 Oct 2010 19:43:27 +0000

Sales on the island continue to be very strong with September sales up 55% at 34 (SF-20, Con-8, Dup-4 & Lot-2) over September 2009 at 22 (SF-9, Con-11, Dup-0 & Lot-2). Year-to-date sales through September 30, 2010 continue to stay well ahead of last year up 38% at 232 (SF-139, Con-64, Dup-19 & Lot-10) compared to September 30,2009 Y-T-D at 168 (SF-87, Con-64, Dup-6 & Lot-11). The increased sales continue to be related to the increase in single family and duplex sales this year versus last year. Even if we just match 2009 fourth quarter sales, we will end up the year at 298 properties sold. Pended sales are at 50 (SF-22, Con-23, Dup-3 & Lot-2), although down from last month’s 66, they are still well above average and my best guess is that sales for 2010 will be above 300 for the year. Island Real Estate sales continue to be strong with 10 properties put under contract and 11 properties closed in September.
Inventory on the island continues to drop with it currently at 522 (SF-254, Con-180, Dup-37 & Lot-51) compared to 540 last month and 544 in August. We’re getting close to the magical number of 500 under which supply and demand are in relative balance and inventory is at about 18 months supply at the average sales volume. Distressed properties (short sales & bank owned) are down to 43 currently (SF-18, Con-17, Dup-5 & Lot-3) compared to 44 last month and 53 in August. Distressed properties are running 28% (SF-34, Con-20, Dup-10 & Lot-1 = 65) of the September 30, 2010 Year-to-Date sales (232) on the island. Nationally 40% of the sales are distressed sales, in Manatee/Sarasota 50% of the sales are distressed and on the island 28% this year’s sales have been distressed.
Another one of Frank & Al’s Great Buy’s went under contract (606 Key Royale Drive listed at $319,000), a definite fixer upper on the canal. Just about all of the other properties are great buys for their location, rental capability and price. A couple that stand out are, 3302 6th Avenue, a four-plex listed at $599,000 three houses from the beach with plenty of room for a pool which would make this a dynamite seasonal rental. Another is 704 Rose St., listed at $429,000 a 2bedroom/2 bath in the north end of the island, one and a half blocks to the beach and with a pool, it would be a great rental property. If you want to be west of gulf drive then 115 Palm Ave. listed at $499,000 is for you. There are currently 10 properties for sale west of Gulf Drive that are not direct gulf fronts and 115 Palm is the lowest priced one. In the last 12 months 8 properties have sold west of Gulf Drive and all between $500K and $800K. The Gulf View Short Sale Townhouse (3603 4th Ave) is another great buy. Listed at $799,000 it’s a lot of house in a great location with partial Gulf Views, Pool, elevator and 2,376 sq ft of living area. Being a short sale who knows what the bank will take….make an offer.
Interest rates, although at all time low’s, continue to creep even lower with 30 year fixed rate mortgages up to $417,000 for first and second homes at 4.21%. To put in perspective how that stacks up to historical rates take a look at the historical mortgage rate graphs at the end of this newsletter which shows rates back to 1963. Based on the WSJ, it looks like the Fed is going to allow some inflation to try to spur economic growth. If they do, interest rates are going to jump up. With property prices as low as they are going to go and the mortgage rates at the lowest you are going to see in our lifetime this is the time for you buyer’s to pull the trigger.
Speaking of good deals, the current news on bank foreclosures is that three large banks, Bank of America included, has stopped foreclosures in 23 States because they might not have followed lawful procedures. The Federal Government is seriously considering stopping all foreclosures in the US due to questions on ownership of some of these properties because the mortgages have been sold so many times. If that happens, the banks will have to sit on their foreclosed properties for some indefinite period of time. A consequence of that may be banks moving much quicker and aggressively on short sales since foreclosing will only increase their inventory of properties that they can’t sell.
Many clients have asked about the demographics of the Manatee County area so I have included them at the end of the newsletter. It includes population, age and wage information on the cities in Manatee County including the three cities on Anna Maria Island. Hope you enjoy the newsletter.

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SOLD 12/21/10 $215K Condo 2 BR/2BA :: $215,000-SOLD;601 Gulf Dr. #206 Gulf Watch, Anna Maria Island, FL

Alan Galletto — Wed, 29 Sep 2010 16:25:00 +0000

View from front entrance

Enjoy being steps away from the beautiful Gulf of Mexico or Sarasota Bay/Intracoastal waterways. This spacious, end unit, second story Island Condo has views of both gulf & bay, 2 bedrooms – 2 baths, 1282 square ft. turnkey furnished, intimate breakfast nook, separate dining area and washer dryer in the unit. Well maintained complex with heated pool and steps to the beach. The beach is private and land on gulf side of Gulf Dr is deeded to condos.

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.

Porch View

: Eat in Kitchen

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SEPTEMBER 2010 Real Estate Newsletter ALAN GALLETTO, Realtor; Anna Maria Island, FL.

Alan Galletto — Sat, 18 Sep 2010 15:48:34 +0000

SEPTEMBER NEWSLETTER 2010

Sales for the month of August continue to be strong up 26% from last year with 29 (SF-16, Con-10, Dup-2 & Lot-1) properties sold compared to 23 (SF-15, Con-6, Dup-0 & Lot-2) in 2009. Year-to-date sales through August 31, 2010 also continue to be strong up 36% at 198 (SF-119, Con-56, Dup-15 & Lot-8) compared to August 31, 2009 Year-to date at 146 (SF-78, Con-53, Dup-6 & Lot-9). As you can see from the numbers, sales of single family homes and duplex’s are up significantly over last year where as condos and lots are about the same. Sales this year have significantly exceeded 2009 almost every month. If we only matched 2009 sales for the remaining months of the year, total sales for 2010 would come in at 286 well above the average total sales on the island of 250. Based on where we are and the continued strong number of pended sales of 66 (SF-33, Con-21, Dup-8 & Lot-4), I believe total sales for 2010 will come in very close to 300. If that’s the case it will be a very strong sales year with the most sales since 2005. Remembering that 2003 to 2005 were the peak sales years on the island, total sales from 2003 to 2009 were 2003-325, 2004-378, 2005-438, 2006-138, 2007-199, 2008-211, & 2009-234. In August Island Real Estate put 8 properties under contract and closed 5 properties.

Inventory dropped a little from last month’s 544 to 540 (SF-262, Con-186, Dup-36, Lot-56). Again, when the inventory level gets below 500 then we should see a significant rise in average and median property values. Distressed properties (bank owned & short sales) have dropped down from July’s 53 to 44 in August (SF-19, Con-18, Dup-4 & Lot-3). Distressed property sales year-to-date has been about 25% (SF-28, Con-15, Dup-7 & Lot-1 = 51) of the total sales year-to-date (198) on the island.

Two of Frank & Al’s Great Buy’s have been reduced from last month which make them even better buy’s. 787 Jacaranda a 3 bedroom/2 bath elevated, totally remodeled home only steps to the beach has been reduced to $599,000. The North Point Harbor canal lot at 718 Key Royale Drive has been reduced to $379,000. A great buy that just came on the market is 3302 6th Ave, a 4-plex with four 2 bedroom/2 bath units’ only steps to the beach. This property has plenty of room for a pool and with a pool and 30% down the revenue it could produce would cover all operating expenses and debt service and produce positive cash flow. This would be a great investment property for someone. There are not many 4-plex’s on the island and even less that are close enough to the beach to cash flow.

Interest rates are at their lowest in 40 years with rates as low as 4.4% for a 30 year fixed for a first or second home mortgage up to $417,000. Financing for condos in stable associations, which include most of the condo associations on the island, is available with 25% down. Jumbo mortgages ( above $417,000) are readily available at 1.5– 2 points above the regular first or second home rate. If your planning on buying, now’s the time.

For those of you who have a rental property or are considering buying one, this year has again been very good for rentals. By this time of year 80%-90% of the rental income is in and the last quarter is pretty quite except for the holiday weekends. This is the time of the year that the locals enjoy because it is a little quieter. If you plan to visit the island this fall the rental rates this time of the year are the lowest so call my rental girls to book.

Projected assessments for 2010 came out last month and it looks like in general taxes will come down a just a little more this year. Assessments now are currently pretty close to market value and unless budgets increase will stay pretty close to market value going forward.

In summary, sales on the island continue to be strong and still on track to be significantly higher than last year. Sales continue to be skewed to the low end with 90% less than $700K which is underestimating a little the average and median sales price compared to past years.

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

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August 2010 Real Estate Newsletter ALAN GALLETTO, Realtor; Anna Maria Island, FL.

Alan Galletto — Wed, 08 Sep 2010 21:11:47 +0000

Sales continue to run above average with sales for July at 18 (SF-11, Con-4, Dup-2 & Lot-1) up from last year’s 16 (SF-9, Con-6, Dup-0 & Lot-1). July 2010 Y-T-D sales are up 39% at 169 (SF-103, Con-46, Dup-13 & Lot-7) over July 2009 Y-T-D at 123 (SF-63, Con-47, Dup-6 & Lot-7). As you can see from the numbers the main reason for the big increase in sales this year is the increase in single family sales. The other three types of properties sales are running about even with last year. The sales numbers are still on track to exceed the average of 250 this year as demonstrated by the sales for the last 12 months at 280 and the continued strong pending sales (properties under contract) at 63 (SF-33, Con-20, Dup-7 & Lot-3). In July Island Real Estate put 4 properties under contract and closed 5 properties.

Inventory has remained stable, in the mid 500’s, since the first of the year and is currently at 544 (SF-266, Con-189, Dup-38 & Lot-51). Again the normal inventory level on the island is between 450 and 500 properties for sale so we continue to hover just above the norm. When the inventory drops below 500 and stays in that range or lower than I believe we will begin to see a significant increase in average and median sales prices on the island. Distressed properties (bank owned & short sales) have bumped up a little over last month and are currently at 53 (SF-19, Con-25, Dup-5 & Lot-4). The increase was due primarily to the increase in condos from 17 to 25. The mainland, in comparison, is still in the 30% plus range of inventory of distressed properties. The number of sales on the mainland are up about 13% over the same period last year but median sale prices are continuing to drop, down 12% over last year.

Well two more of Frank & Al

The Gulf oil spill seems to be plugged so that’s good news for the whole Gulf region. We here in southwest Florida have not seen any oil and don’t expect to see any. The beaches are still there normal white sugar sand texture and the waters blue/green clear.

In summary, the number of sales on the island continue to be strong up significantly over last year and look to continue in that direction based on the continued strong number of pended sales. The distribution of sales continues to be skewed to the low end with 90% of sales less than $700,000 and 5% over $1 million. Average and median sales prices have not increased significantly and probably won’t until the inventory drops below 500. There are still some very good deals out there on properties in good locations that would be great rentals for second home buyers but they are becoming less every day. With 30 year fixed interest rates at 4.74% down from 5.42% last year the numbers aren’t going to work any better than right now. If you’re planning on buying a property in the next year now is the time to buy something while there still are good buys in great locations.

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SOLD… Gulf Front Condo 2 BR/2BA :: $625,000 :: Anna Maria Island Club 2600 Gulf Dr #17, BRADENTON BEACH, FL. Real Estate, Alan Galletto Realtor

Alan Galletto — Wed, 01 Sep 2010 21:27:57 +0000

ANNA MARIA ISLAND CLUB #17

This Gulf front condo is totally remodeled; Kitchen and Baths have Granite Counters and Wood Cabinets, Crown Molding throughout and much, much more! Luxurious and highly sought after Anna Maria Island Club two bedroom, two bath gulf front condo in one of Anna Maria Island’s premier Gulf front complexes. The view from this Anna Maria Island Gulf front condo is breathtaking and spectacular to say the least. Stroll for miles in either direction, or relax by large heated pool, hot tub and sauna directly on the pristine beaches of Anna Maria Island. The open-air balcony looks over the pool and miles of white sandy beach where you could sit and watch dolphins, manatees or some of the best sunsets you’ll ever see! The Home is Turnkey Furnished. The development has secured access via an elevator.

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.

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SOLD 5/5/11 $275K Canal Front Lot :: $379,000 was $399K:: 718 Key Royale in North Point Harbor, HOLMES BEACH, FL – ANNA MARIA ISLAND

Alan Galletto — Wed, 23 Jun 2010 18:31:48 +0000

Anna Maria Island Canal front lot

One of the few vacant Canal Front lots available in Key Royale located within the North Point Harbor Community. Community Pool, Tennis Court and Club House available to owners and their guests. Dock is already in place. Plans are available for this site or bring your plans and build your dream house, plenty of room for a private pool too!

Dock View

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.

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May 2010 Real Estate Newsletter ALAN GALLETTO, Realtor Anna Maria Island, FL.

Alan Galletto — Wed, 19 May 2010 13:42:41 +0000

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.

www.Alangalletto.com

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