Duplex HANDY MAN or teardown

The Coronavirus so far hasn’t brought the market to a standstill for Anna Maria Island real estate sales but has slowed it down a little.  Sales for February 2020 for Anna Maria City, Holmes Beach and Bradenton Beach were 37 (SF-18, Con-14, Dup-3 & Lot-2) up 28% above February 2019 at 29 (SF-20, Con-7, Dup-1 & Lot-1) continuing the year up significantly.  Sales for the last 12 months were 401 (SF-250, Con-118, Dup-25 & Lot-8) up 5% above the previous 12 months at 383 (SF-223, Con-131, Dup-20 & lot-9).   The inventory continues to remain low at 308 after being below 300 for nineteen of the last twenty-six months.  Inventory is currently at 308 (SF-180, Con-94, Dup -13 & Lot-21).  Inventory for the previous twenty-six months were 314, 312, 289, 279, 282, 292, 296, 293, 305, 334, 338, 319, 291, 257, 249, 231, 214, 223, 240, 254, 267, 297, 297, 310, 290, 298, and continues to be historically low and well below average  for this market.  Again, average sales for the last 16 years which includes 2004 and 2005 (the peak sales years) were 342.

Frank & Al’s Great Buy’s list this month is pretty much the same as last month with the exception that several properties have reduced their price.  Since last month’s newsletter the same two properties are under contract, a canal home in Key Royale and a warehouse in Bradenton. 622 Hampshire Ln. and  5821 21^st St E. .  We are negotiating an offer on the ULTIMATE new modern Tampa Bay Front home see 661 Key Royale.  It has it all, OH MY Goodness 4+ bedrooms and 5 Baths with 7000 sq. feet of FLORIDA under “roof” living area.  Still available is the 180 degree Bimini Bayfront view, ideal boater’s home then check out 543 67th St. HB . The city says this lot is big enough to split in half and build two homes or ready to be taken the current home to the next level, the existing 2,909 sq. ft.  4bedroom/4bath Bimini Bayfront is the ultimate in boating paradise, deep water minutes to Tampa Bay or the intercostal; there is a ground level mother-in-law (MIL) suite.  If you’re looking for a great rental then look at 129 52^nd St. HB.  West of Gulf Drive and a block from the beach and close to shopping with 4bedrooms/4 baths.  Call us to see the FANTASTIC rental income on this property which did $94,800 in gross annual rental income in 2019.  And to be almost on the Gulf you MUST see the recently reduced 103_47TH_ST. HB  and remodeled beach cottage with new pool and spa, 3 bedrooms/3.5 baths, one house from the beach and peaks of the Gulf in a very quiet part of the island.  Call me for more information on these or other real estate opportunities.  We can put you on your own automatic search for properties with your specific criteria, let us know what that is- today!

To summarize the Anna Maria Island Real Estate Market to start 2020, sales have continued strong but we expect the coronavirus shutdown to slow them down a little within the next couple months.  The inventory is still at a healthy level….not too high but not too low to allow you a wide choice of properties.  Pended properties (properties under contract) continued strong at 53 (SF-28, Con-14, Dup-9 & Lot-2) below last month at 68 but still a very healthy number which continues to allow us to expect strong sales to continue in 2020.  Distressed properties continue to be non-existent as they have been for the last year or more with no distressed property currently for sale on the island and only one in the last eighteen months.  The distribution of the single family properties currently for sale on AMI hasn’t changed much in the last year with only 3% or (6) <$500K, 12% or (22) 500K-750K, 18% or (32) between $750K and $1 million, 44% or (74) between $1 million and $2 million and 23% or (40) over $2 million.  The distribution for Condos currently for sale is 56% or (53) <$500K, 31% or (29) $500K-$750K, 4% or (4) $750K – $1 million and 9% or (8) >$1 million.  You can see that again 8% of the single-family prices are over $750K and 67% are over $1 million while 56% of the condos were below $500K.  This distribution of single-family prices and condo prices continues to remain significantly unchanged over the past year or so.  Of the current inventory of 182 single family homes again the lowest priced property this month is still $249,000 (seaside gardens 1br/1bath again) and the highest remains at $7,995,000 a one acre gulf front complex built in the 1940’s but totally remodeled.  Of the current inventory of 94 condos the lowest priced is this month a 2br/1bath Bay View Terrace condo at $214,500 and the highest $2,199,000 (price recently reduced) still 3br/3bath gulf front Vista Grande.  The highs and lows for single family and condos continue to remain unchanged.  Of the single-family properties currently for sale on AMI, the average list price is $1,686,345 and the median list price is $1,399,000 and for condos the average list price is $551,644 and median list price is $482,000.

Longboat Key current inventory has popped up a little again to 388 (SF- 135, Con- 224, Dup- 2 & Lot- 27) higher than the last eight months at 378, 364, 354, 309, 309, 274, 289,359 but lower than the previous six months at  386, 404, 442, 461, 455, 452. Of the current inventory of 135 single family homes the average list price is $2,221,624 and the median list price is $1,295,000.  The lowest priced single-family home on Longboat Key is still $299,000 (2br/2bath home in Spanish Main) and the highest is still $19,750,000 (A 6BR/6 & 2half baths, 19,300 sq. ft. home on 1.18 acre on the Gulf) same as last month.   For the 225 condos for sale the average and median list prices respectively are $810,336 & $579,000 with the lowest again at $6,000 (a 2BR/2bath Longboat Bay Club Timeshare) and the highest the same as last month at $15,900,000 (a 23BR/20 bath 23,595 sq. ft. condo resort).

Have a great day and keep those calls and e-mails coming and please continue to stay safe!  We love hearing from you and look forward to seeing you on the island……Alan, Frank & Lynn

THE GALLETTO TEAM of Island Real Estate, 6101 Marina Drive, Holmes Beach FL 34217.
For detailed charts see the entire newsletter on our website; http://www.AnnaMariaLuxuryRealEstate.com
#AnnaMariaLuxuryRealEstate #HouseHunting #BuyAHomeOnAnIsland #LuxuryRealEstate
ALAN@AlanGalletto.com

The post Real Estate Newsletter March, 2020 Anna Maria Island, FL appeared first on Galletto Team - Anna Maria Island Luxury Real Estate.

Luxury Gulf Front Condo Anna MAria Island for sale

Sales in January 2016 started the year off strong again among all property types and showed average and median sales prices up again from 2015.  January 2016 sales were 27 (SF-15, Con-8, Dup-3 & Lot-1) down slightly from January 2015 at 30 (SF-15, Con-9, Dup-3 & Lot-3) but still the third best January sales since 2006.  The last 12 months sales (Feb1, 2015 to Jan 31, 2016) were 404 (SF-228, Con-127, Dup-27, Lot-22) up 8% over the previous 12 months (Feb 1, 2014 to Jan 31, 2015) at 374 (SF-212, Con-105, Dup-34 & Lot-23).  Of the last 12 months sales only 4% or 18 (SF-9, Con-8, Dup-1 & Lot-0) were distressed properties (bank owned or short sales) compared to 6% or 22 (SF-10, Con-3, Dup-9 & Lot-0) in the previous 12 months (Feb 1, 2014 to Jan 31, 2015).  Inventory on the island continues to remain low but is slightly up again this month at 330 (SF-187, Con-97, Dup-17 & Lot-29).  The inventory last month was 309 and for over the last year the inventory has been running slightly below 300.

If you’re looking for some very good properties to buy check out Frank, Al & Scott’s Great Buys this month. Since last month’s newsletter 727 Jacaranda listed at $1,149,000 has gone under contract, so buyers are active.  The best investment buy in the whole inventory is still 3603 4^th Avenue.  If someone doesn’t buy it soon I’m going to buy it myself.  It has averaged $90K in gross annual rental income which makes it a 10 ratio (purchase price/Gross annual rental income) at list price.  Ask for a Cost of Ownership Analysis on 3603 4^th Ave. to see the numbers.  If you’re looking for an entry level condo check out 2814 Gulf Drive a 3 unit condo with 2 bedroom units listed at $379,900 and a 1 bedroom unit at $319,900.  If you’re only looking for a 1 bedroom unit also check out 308 2^nd St N.  Two of the units are already under contract.  This 4 unit condo that has been totally remodeled has only 2 units left at $274K & $249K.  If you’re looking for a Bay Front Family Compound check out 2201 Avenue A – a 5 bedroom/3.5 bath bay front home with panoramic Bay views, a manicured pool area and boat lift listed at $1,999,900.  Check out the other great buys this month.

Location Location 34217 % bed 3.5 ba Waterfront Home for sale

To summarize the market for the beginning of 2016, it’s starting off where the record year of 2015 left off.  Distressed properties are pretty much non-existent and will continue to be so into the future.  There is currently only one distressed single family property in the inventory.  Pended properties (properties under contract) are about average at 25 (SF-10, Con-11, Dup-3 & Lot-1).  The distribution of the single family sales on the island over the last 12 months was 22% <$500K, 43% 500K-750K, 17% between $750K and $1 million and 18% over $1 million.  The distribution for Condo sales over the last 12 months is 83% <$500K, 13% $5000K-$750K, 2% $750K – $1 million and 2% >$1 million. 

            Longboat Key current inventory is 483 (SF- 148, Con- 207, Dup- 96 & Lot- 32).  Pended properties on Longboat Key is 65 (SF-14, Con-31, Dup-20 & Lot-0) and Distressed properties on Longboat Key are only 3 (SF-0, Con-1, Dup-2 & Lot-0).  The distribution for single family home sales on Longboat Key for the last 12 months was 23% <$500K, 29% $500K – $750K, 18% $750K – $1 million & 30% >$1 million.  The distribution for Condo sales on Longboat Key for the last 12 months was 51% <$500K, 26% $500K – $750K, 10% $750K – $1 million & 13% >$1 million. 

            This year is starting out at about the same pace as last year and I expect the market to continue at the same pace that we’ve seen for the past five years that is at a 5%-6% equity increase.

THE GALLETTO TEAM of Island Real Estate, 6101 Marina Drive, Holmes Beach FL 34217.

For detailed charts see the entire newsletter on our website; www.AlanGalletto.com
Call Realtors ALAN and Scott GALLETTO 941.232.2216 and 941-779-3313

The post Alan & Scott- The GALLETTO Team Anna Maria Island, FL. Real Estate Newsletter February, 2016 appeared first on Galletto Team - Anna Maria Island Luxury Real Estate.

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.

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

The post Real Estate Newsletter July 2015 GALLETTO Team Alan and Scott Anna Maria Island, FL. appeared first on Galletto Team - Anna Maria Island Luxury Real Estate.

1 1/2 blocks to beautiful AMI Beaches

Sales for April 2015 were down 9% over last year at 41 (SF-21, Con-15, Dup-1 & Lot-4) compared to April 2014 at 45 (SF-26, Con-14, Dup-3 & Lot-2). Sales for the last 12 months were 381 (SF- 217, Con-110, Dup-29 & Lot-25) down 13% over the previous 12 months at 436 (SF-257, Con-122, Dup- 32 & Lot-25).  Of the sales for the last 12 months distressed properties were 6% of the sales at 23 ( SF-12, Con-5, Dup-6 & Lot-0) compared to the previous 12 months where 8% or 37 ( SF-17, Con-11, Dup-8 & Lot-1) were distressed. Currently there are only 3 distressed properties or .1% of the inventory of 273 (SF- 144, Con-79, Dup-20 & Lot-30). They are comprised of one single family property, which is bank owned and two condos which are bank owned. Pended properties (properties under contract) continue to remain strong at 37 (SF-17, Con-13, Dup-2 & Lot-5) down from 43 last month and 53 the previous month but well above the average. Inventory on the island continues to remain below 300 at 273 (SF-144, Con-79, Dup-20 & Lot-30) from 270 last month, 279 the previous month and below 300 for the last twelve months.

Of Frank, Scott & Al’s Great Buy’s the duplex at 770 Jacaranda in Anna Maria listed at $499,000 that fell through last month is back under contract for cash no contingencies and will close June 26th . Again this month the property at 3603 4th Ave which was recently reduced to $919,900 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). With the inventory continuing to be down to all-time lows there are not many of these exceptional investment buys. Check out the rest of the Great Buy’s attached.

A look at the Vacation – Second Home Market at the macro level, as again reported by The Wall Street Journal, notes that sales were at the highest level on record last year above its prerecession peak. Vacation home sales last year accounted for one-fifth of all homes sales and they said that should more or less rise over the next five to ten years as the income and number of vacation home buyers increase. The Real Estate association’s survey found that buyers last year had median household income of $94,380 up from $85,600 in 2013. The number of buyers is likely to grow in the years ahead as 76 million-plus baby boomers advance in age and buy vacation homes that eventually will become retirement homes. Meanwhile, the prospect of rising prices has spurred buyers to act sooner rather than later. Rates on 30 year, fixed-rate mortgages, which have hovered below 4% since November, are poised to rise latter this year as the Federal Reserve increases short term rates, according to the Wall Street Journal. In addition, tax deductions for vacation homes can vary greatly depending on how much you use it and whether you rent it out. Check with your accountant for your personal situation. The macro trend is up and so is the Anna Maria Market.

To summarize the island market, it looks like the strong sales activity we have had since 2012 is continuing 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 and is continuing into 2015 bodes well for continuing the historical 5-6% equity increase in property. If you look at April 30, 2014 Y-T-D sales at 143 compared to April 30, 2015 Y-T-D sales of 143 we got another great start for the year. If you look at April 30 Y-T-D at sales over the last eleven years (2005-2015), sales for the first four months of 2015 at 143 have only been higher in 2005 at 160. As far as single family sales prices in the last 12 months, 23% of the total single family sales were under $500K, 65% were under $750K, 22% were between $750K and $1 million and 13% were over 1 Million. Of condo sales on the island in the last 12 months, 81% were under 500K, 96% were under 750K, 1% were between $750K and $1 million, and 3% were over $1 Million dollars. This continues to show single family sales to be the strongest part of the market on the island.

Call Realtors ALAN and Scott GALLETTO 941.232.2216 and 941-779-3313

The post Anna Maria Island, FL; Real Estate Newsletter May 2015 Alan GALLETTO TEAM appeared first on Galletto Team - Anna Maria Island Luxury Real Estate.

4 UNITS UNDER $400k on Anna Maria Island WOW

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 9^th for $2,200,000.  The single family beach cottage at 121 49^th 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 50^th 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 under NEWSLETTER on ALan’s front page of the website.

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 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.

Ask Alan or Scott Galletto-THE Galletto Team Realtors for real estate on Anna Maria Island, FL. 941.232.2216 or 941-779-3313

The post Real Estate Newsletter March 2015 Alan Galletto Anna Maria Island, FL. appeared first on Galletto Team - Anna Maria Island Luxury Real Estate.

4 bed, 3 bath, caged pool, Tampa Bay Front Home

Sales for January 2015 got off to a little slower start this year at 30 ( SF-15, Con-9, Dup-3 & Lot-3) compared to January 2014 at 37 ( SF-22, Con-10, Dup-3 & Lot-2) . Sales for the last 12 months were 374 ( SF-212, Con-105, Dup-34 & Lot-23) down 13% over the previous 12 months at 428 ( SF-251, Con- 123, Dup-30 & Lot-24). Of the sales for the last 12 months distressed properties were only 6% of the sales at 22 ( SF-10, Con-3, Dup-9 & Lot-0) compared to the previous 12 months where 9% or 39 ( SF-18, Con- 13, Dup-7 & Lot-1) were distressed. Currently there are only 4 distressed properties or 1% of the inventory of 296 (SF-160, Con-84, Dup-21 & Lot-31). They are comprised of two single family properties, one single family is a short sale and one single family is a bank owned. Of the two distressed condos, one condo is a short sale and one condo is bank owned. Pended properties (properties under contract) are strong at 42 (SF-28, Con-10, Dup-3 & Lot-1) up from 25 last month and well above the average. Inventory on the island continues to remain below 300 at 296 (SF-160, Con-84, Dup-21 & Lot-31) from 284 last month and below 300 for the last eight months.

Another two of Frank, Scott & Al’s Great Buy’s went under contract since the last newsletter. The elegantly stunning home at 114 Beach listed at $2,499,900 went under contract and is due to close on March 9, 2015. Also under contract is the single family beach cottage at 121 49th St listed at $899,900 on a conforming duplex lot and is due to close on April 3, 2015. There are still a few very strong investment buys. 3603 4th Ave is a 3 bedroom/3 bath townhouse with elevator, pool and a roof top deck with awesome views of the gulf and inter-coastal and an excellent rental. This property is ideal for someone who wants a property in a great location (three houses to the beach) and in move-in condition. 120 50th St is another property in a great location (west of Gulf Drive – 4 houses to the beach), 3 bedroom/3 bath all on one floor up, elevator, 2-car garage, pool and lushly landscaped grounds with large covered area. Check out the rest of the Great Buy’s attached.

To summarize the island market, although we only have sales for one month of 2015, it looks like the strong sales activity we have had over the last couple years will continue and we should 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. 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. Another reason is, outside of the stock market, there isn’t anywhere else to put your money that’s relatively safe other than real estate. If you look at January 2014 sales at 37 compared to January 2015 sales of 30 we got another great start for the year. If you look at January sales over the last eleven years (2005-2015) January 2015 sales have only been higher in 2014 at 37. 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, 59% were under $750K, 27% were between $750K and $1 million and 15% were over 1 Million. Of condo sales on the island in the last 12 months, 80% 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. If you look at single family and condo sales over the past couple years the under $500K percentage of sales has continued to drop which is another sign of rising prices.

Check the full Newsletter including graphs and BEST BUYS at www.AlanGalletto.com

Call me, Realtor ALAN GALLETTO  941.232.2216  of Island Real Estate, 6101 Marina Drive, Holmes Beach FL 34217.

The post Alan Galletto Anna Maria Island, FL. Real Estate Newsletter February 2015 appeared first on Galletto Team - Anna Maria Island Luxury Real Estate.

Sales for November 2014 were below last year at 20 (SF-10, Con-8, Dup-1 & Lot-1) compared to November 2013 at 34 (SF-20, Con-10, Dup-2 & Lot-2).  Sales for November 30, 2014 Y-T-D were 343 (SF-199, Con-91, Dup-32 & Lot-21) down about 9% from November 30, 2013 Y-T-D at 374 (SF-224, Con-110, Dup-20 & Lot-20).  Sales for the last 12 months were 376 (SF-212, Con-101, Dup-37 & Lot-26) down 9% from sales for the previous 12 months at 412(SF-251, Con-119, Dup-21 & Lot-21).  Of the sales for the last 12 months distressed properties were only 5% of the sales at 22 ( SF-10, Con-4, Dup-7 & Lot-1) compared to the previous 12  months were 8% or 33 ( SF-16, Con-9, Dup-7 & Lot-0) were distressed.  Currently there are only 6 distressed properties (2 single family, 1 short sale & 1 bank owned and 4 condos, 1 short sale & 3 bank owned) or 2% of the inventory of only 284 (SF-153, Con-82, Dup-16 & Lot-33) for sale on the island.  Pended properties (properties under contract) are in the normal range at 31 (SF-21, Con-7, Dup-2 & Lot-1).  Inventory on the island continues to stay pretty low and steady in the low 300’s over the last 10 months but this is the fourth month in a row that we have been under 300 properties for sale on the island  since 2005.

Frank, Larry’s & Al’s Great Buy’s for this month have not changed much from last month. Again I’d like to point out a couple very strong investment buys on the list.  The property at 3603 4^th Ave (recently reduced to $959K) is a 3 bedroom/3 bath townhouse with elevator, pool and a roof top deck with awesome views of the gulf and inter-coastal and an excellent rental history.  It does over $90K in gross annual rental income which makes it a 10 ratio (rental income covers all the operating costs and most of the mortgage with 20% down) and is ideal for someone who wants a property in a great location (three houses to the beach) and in move-in condition.  Another excellent rental income property is 103 75th Street a totally remodeled 4 bedroom/4 bath beach house one house to the beach with a pool.  This property has never been rented but would do around $100K in annual rental.  I have another fantastic new listing that just went into MLS.  It’s an elegantly stunning single family beach house 3,639 sq. ft. under A/C and 5,582 sq. ft. under roof only 4 houses from the beach on 3 platted lots.  The amenities are too numerous to list you must see it.  Call or email me if you want more information.  Check out the rest of the Great Buy’s.

To summarize the island market, again sales in 2014 looks like they will end up at record levels although just short of the 400 mark.  Again, single family sales remain strong with 199 sold Y-T-D a little under last year at this time.  The average price of single family sales for 2014 Year-To-Date is up 8% 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 9% over last year and median condo sales prices are up 8% over last year.  Average duplex sales are up 13% over last year and median duplex sales are up7% over last year.  The immediate future looks to continue this trend of rising prices at about the average 30 year rate of 7%-10% which is very healthy and sustainable.  The inventory continues to be down into the historical low range hitting below 300 at 284 for the fourth month in a row since 2005.  The inventory seems to be ticking up a little and that’s probably because the sales have ticked down a little.  We’ll see if this trend is going to continue or if sales will tick up from here.  In either case it doesn’t seem to be affecting average and median sales prices as of yet.  Single family homes continue to sell in record numbers well above the 2005 peak while condos sales are still well below the 2005 peak.  One reason for that is many duplexes have been torn down over the last six years and were converted to single family land condos which show up as single family sales.

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

The post Newsletter December 2014 Alan Galletto * Anna Maria Island, FL; Real Estate appeared first on Galletto Team - Anna Maria Island Luxury Real Estate.