Downtown St Petersburg Condo Rentals
July 16th, 2010 categories: Downtown St Petersburg, Uncategorized
Notes from Rob:
Have been spending more and more of my time helping people find downtown rentals and it has its ups and downs. The up side is that you are helping people find a place to live and as with most real estate agents, if you take care of them now, then when they are ready to buy, they will remember you as the agent they want to work with. The negatives are that many listing agents/owners give such a poor fee that in many cases you actually lose money (time and gas expenses) to show the rental clients the many available properties.
It is a good time to rent if you are an owner of a downtown condo as the inventory is very low right now, especially in the high end units. While rental prices dipped in 2008 and 2009, as you could get a 3,000 square foot unit for as low as $3,000 a month, the prices have been rising as the inventory gets scarce and today you are looking at closer to $4,000 a month for the same front unit at Parkshore, 400 Beach or the Vinoy. And if you find one you like, grab it, as they are not staying on the market for long.
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Signature Place back on track
July 15th, 2010 categories: Signature Place, Uncategorized
Notes from Rob.
Since the March auction, sales at the Signature Place condos in downtown St Petersburg were moving along at a brisk pace. At last count, 198 of the 244 units have been sold and another 15 were under contract. I was very happy as 5 of the sales were with clients of mine and each of them is very happy with their purchases. As sale number 6 came up, everything was put on hold due to a disagreement between the developer and the title company. Needless to say my clients and I were not happy. But I was still confident things would get resolved and I continued to show my clients the building. Of course, while on hold, new contracts could not be written. Very frustrating for clients who want to buy. Had two clients on “hold.” Luckily, last Tuesday evening I opened an email to find out everybody was happy again and signing Kumbaya together. Contracts were quickly written and closings scheduled. As of today, only 16 units are left and they are on the lower floors (one exception for $639,000) and little to no view, but a 1-bedroom, 1 1/2 bath unit with a den can be had for only $165,000. It is take it or leave it, as the developer has set the prices and will not budge, will not throw in curtains, will not pay your closing costs (I’ve tried them all). It looks like people are buying and it won’t be long before the building is sold out, which will be a great turn around for the building over the past year. If you are interested in seeing any of the last 16 units, give me a call and I’ll get you in.
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Want an Apple Store at Baywalk in downtown St Petersburg?
July 13th, 2010 categories: Downtown St Petersburg
an Apple Store would be great at Baywalk St Petersburg
Want an Apple Store at Baywalk in downtown St Petersburg? Hal Freedman has suggested this, according to i love the burg.
“he’s learned from connections at the computer giant that they would consider the location if there was an “outpouring of support” from the community, City and BayWalk”
so add your support to the ilovetheburg post and better yet, email Apple as well!
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Downtown St Petersburg Condo Market Update for June 2010
July 2nd, 2010 categories: Market Updates
Downtown St Petersburg skyline
Downtown St Petersburg Condo Market Update for June 2010
Only 7 downtown St Petersburg condos sold during the month of June 2010. Three of these were new condos, one at Ovation for just over $2 Million, and 2 at Signature Place in the $300s. The remaining four were resale condos, ranging from $85,000 for one at The Madison to $202,000, also at The Madison.
During June there were 11 condos downtown that went to contract, all of them resales. They show a wider spread of price ranges than sales for the month: 7 of them were under $250,000, ranging from $58,900 to $229,000; one in the $600s at Florencia, two in the $800s at Vinoy Place and 400 Beach, and one over $1 Million at 400 Beach.
There are 85 resale condos currently on the market:
35 under $250,000
24 between $250,000 and $500,000
12 between $500,000 and $1 Million
13 between $1 Million and $2 Million
1 between $3 Million and $4 Million (a luxury penthouse)
For specifics on what’s available in new construction, contact The Simms Team at ALVA International, Inc.
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Flood insurance extended again – short term
July 1st, 2010 categories: Real Estate News
Flood insurance has been extended again – short term. Both the Senate and the House have extended flood insurance to September 30, 2010 and made it retroactive to May 31 and it’s now waiting for the President’s signature. Note that this extension doesn’t even run through the end of the hurricane season this year.
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Congress still hasn’t renewed flood insurance
June 28th, 2010 categories: Real Estate News
Congress still hasn’t reauthorized flood insurance through their NFIP National Flood Insurance Program, which has been in limbo since May 31st. Flood insurance seems to be held hostage as an add-on for other bills in Congress. Meanwhile, real estate closings are affected as well as flood insurance renewals. Lenders MAY close loans based on the receipt of a completed flood insurance application and funds for a year’s premium, but that’s only one of their options.
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Simms Team is Splattered for Chihuli
June 7th, 2010 categories: Miscellany
Simms Team splattered for Chihuly
The Simms Team is now splattered for Chihuli! Following the Morean Arts Center’s shoe painting event, ilovetheburg has been splattering photos. So – now The Simms Team is splattered in anticipation of the new Chihuly Collection opening in July just a block and a half from us. We’re using this splattered photo on our ALVA International facebook page for the next month or so.
Welcome, Chihuly!
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St Petersburg named Top City for Art
June 2nd, 2010 categories: Downtown St Petersburg
Mahaffey Theater at dusk
St Petersburg is named the Top City for Art by American Style magazine. St Petersburg, with its “unique and vibrant” arts scene, is now in top position for mid-size cities. Locals already knew that. We have art tours, gallery walks, and recently created an Arts District along Central Avenue. The Chihuly Gallery opens in July and the Salvador Dali Museum opens in its new building January 11, 2011. Private art galleries are all around. Art shows are in the parks. The Museum of Fine Arts has expanded twice. It’s a great place to live. Shown here is the Mahaffey Theater.
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Paint Your Shoes and help Morean Arts Center – Chihuly style
May 21st, 2010 categories: Downtown St Petersburg, Events
Paint Your Shoes at Morean Arts Center
Paint your shoes and help Morean Arts Center in St Petersburg by attending one of their Paint Your Shoes sessions:
- Saturday, May 22 10-3
- Thursday, May 27 5-7
On July 11th the Morean Arts Center will open The Chihuly Collection on Beach Drive. The suggested donation for attending one of the above paint sessions is $5.
Why paint your shoes? What does this have to do with Chihuly? Chihuly is known for his glass work, but he also does splatter painting, which generally results in his shoes always being splattered.
What a great time to show your creativity. Bring in a pair of shoes, from sneakers to high heels, or even Cowboy Boots and use acrylic paints to show your style. Read Chihuly, Shoe-huly.
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St Petersburg Real Estate Market Update for April 2010
May 8th, 2010 categories: Market Updates
Downtown St Petersburg Florida from The Vinoy
The St Petersburg Real Estate Market Update for April 2010 shows that the number of single family home sales has increased 30%. Prices are down, though, with the median price dropping 7.5% over the last year and the average price down 2%. The average price had increased each of the last four months, however, for an average increase in price of 8%.
The St Petersburg Real Estate Market Update for April 2010 shows that the number of condo sales has increased by 67% over last year. For condos, the average prices have increased as well, with a 6% increase in the median price and a 17.7% increase in the average price.
2010 has been a good year so far for the real estate market in St Petersburg, Florida. We strongly believe that the recovery will be very localized – that is, building by building and neighborhood by neighborhood. Some have already turned around. We think that once the short sales and foreclosures drop from the market, that the building or neighborhood will start a gradual increase in price. Some neighborhoods have some comparable neighborhoods in the buyer’s mind, and will be affected by them. Others are so unique that they compare only within the neighborhood.
Contact Sharon, Tami or Rob at The Simms Team for information on your particular situation. The Simms Team is at ALVA International, Inc., a family real estate company in downtown St Petersburg at 238 Beach Drive NE.
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