Archive for April, 2009
Southwest Airlines and Tampa International Airport are Computer Friendly
April 28th, 2009 categories: Miscellany
Tampa International Airport has been computer friendly for years by offering free wireless internet access. Not too long ago Southwest Airlines started providing computer “bars” where you could plug in and recharge your computer, and the small flat surface everyone shared was certainly better than balancing on your knees. What a pleasant surprise when I arrived at the Southwest Terminal at Tampa International Airport today to find in the main lobby and at the gates were these banks of computer stations – a flat private surface of probably 2 ft x 3 ft where you can spread out your papers, your coffee or sandwich, as well as your computer, and use the two plugs for working and recharging. Plus the free internet access. Kudos and thanks to both Southwest Airlines and to Tampa International Airport!
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Banks getting slower at processing loans
April 27th, 2009 categories: Financing, News and Views, Real Estate Tips, Trends
We’re seeing more instances of banks that are “ignoring” the closing dates on contracts – not all of them, but enough to be a concern. Other agents are reporting delayed closings as well. Sometimes the day before the scheduled closing the lender will ask for more information from the buyer – sometimes the lender will just say that they didn’t “get to it” and delay it a week, and then another week. Lesson 1: it’s not over until it’s closed. Lesson 2: have a contingency plan in case the closing is delayed.
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Waterfront home in Broadwater closes at $310,000
April 26th, 2009 categories: Broadwater
Another waterfront home sold in Broadwater – at a bargain basement price of $310,000. The home has 3 bedrooms, 2 baths, and a 2 car garage, a screened pool and a dock. It has a good location and a solid floor plan – needs upgrading, of course, at that price. It has been vacant for several months, and was in the hands of a Guardian – but not a short sale, and not a foreclosure. Five additional waterfront homes are currently under contract in Broadwater.
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New York Bagels in St Petersburg Florida
April 25th, 2009 categories: Broadwater, Lifestyle
Weekend mornings when I stop at the New York Bagel n’ Bread Shop, not far from my Broadwater neighborhood in south St Petersburg Florida, Patricia Cucinotta always has a smile on her face as she gets my usual Raisin Cinnamon bagel. Yes, I know that’s not a REAL bagel, but I like it. There are lots of cream cheeses, but I generally have mine plain. Len Cucinotta has owned and operated New York Bagel n’ Bread Shop for 14 years, and lives nearby in Broadwater. They open at 6:30 weekdays and 7:00 on weekends – for lunch they have sandwiches, panini, wraps and salad. They also have great freshly baked breads. Just looking for a cup of espresso or cappuccino? They offer that, too. Cakes, biscotti, lox – well, just go over to visit the New York Bagel n’ Bread Shop at 4801 34th Street S. and when you’re there – tell them that you heard about them on Sharon’s blog. (p.s. – Click on the photo to see a larger version).
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Defective drywall fears bring scams
April 24th, 2009 categories: Real Estate News
Defective drywall in some newer homes was an issue I discussed in mid-February. According to the Tampa Bay Business Journal, some homeowners are now being contacted to have bogus tests done to see if your drywall is defective. If you want to report a scam, contact the Florida attorney general’s fraud hotline at 866-966-7226 or file a complaint online.
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400 Beach luxury condominiums in downtown St Petersburg – breaking news 4-23-09
April 23rd, 2009 categories: 400 Beach, Market Updates
The developer of 400 Beach, a luxury condominium in downtown St Petersburg Florida, has filed for bankruptcy. Opus South filed for Chapter 11 - 400 Beach is just one of the Opus properties. According to the St Pete Times, the company promised an “orderly wind down” of its portfolio. This is a sad conclusion for Opus, based in Atlanta, whose parent, Opus Corporation, has been in business for 56 years. Earlier this week I posted a specific market update for 400 Beach for both sales and rentals. Opus is currently accepting “Nonbinding” offers on their remaining 18 condo units.
Opus press release
Robert Trigaux on Opus South Bankruptcy
Opus South Chapter 11 bankruptcy filing spells market exit
4/24/09 Followup article on Opus South and 400 Beach in the St Pete Times
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Multiple offers coming back in St Petersburg Florida
April 22nd, 2009 categories: Market Updates
Here in St Petersburg we’ve personally seen multiple offers lately, primarily on short sales or foreclosures. Julie Holt, owner of Anclote Title Services, was at our office this afternoon for a closing, and stated that in the last month she’s seen 6 closings that had multiple offers and sold over list price. It’s been a few years since this was common but there’s a difference – last time it was in a seller’s market and now it’s in a buyer’s market. The properties getting multiple offers are those that are perceived as Great Bargains! Not just bargains, or good bargains, but great ones. It’s all about PRICE.
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Parkshore Plaza Market Update 4-21-09 Luxury condominiums downtown St Petersburg Florida
April 21st, 2009 categories: Downtown St Petersburg, Market Updates, Parkshore Plaza
Parkshore Plaza currently has 19 condos in the Multiple Listing System of Pinellas County actively for sale, ranging from $435,000 for a 1,421 sq ft townhouse facing 1st St to $1,850,000 for a double unit with 5,465 sq ft. This is approximately 16% of the total units. All of the developer units have been sold.
4 units in Parkshore Plaza have contracts pending, with list prices from $448,500 to $1,295,000.
So far this year there have been 3 sales, ranging from $500,000 to $999,000.
5 units are currently offered for rent in Parkshore Plaza through the MLS, ranging from $3,500/month to $5,250/month. So far this year 5 have been rented, from $3,000/mo to $4,200/month, according to the MLS. There are a total of 17 units that have been rented, and two of the five available for rent do not show a prior rental – indicating that about 15% of the units at Parkshore Plaza are leased.
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400 Beach luxury condo in downtown St Petersburg Florida – Market Update 4-20-09
April 20th, 2009 categories: 400 Beach, Market Updates
400 Beach, a luxury condo in downtown St Petersburg, Florida, has 93 units on 29 stories. Closings began in December 2007 and the developer still has 18 unsold condo units, just under 20%.
The Multiple Listing Service shows 26 condos currently on the market (28%) which includes only 8 of the developer’s 18 units, so there are potentially 36 condos available, which is 39% of the total. Current prices range from $749,000 to $3,900,000.
So far in 2009 only one condo has closed at 400 Beach, selling for $1,200,000. It had 3,306 sq ft, which is $363/sq ft.
There are currently 5 condos for rent in the MLS, ranging from $3,500/month to $5,000/month. Two of these units are also offered for sale, probably a “whichever comes first” scenario. During the last year, the Pinellas Realtor Organization Multiple Listing Service shows 12 condos were leased at 400 Beach, ranging from $3,000/month to $5,000/month. Five of these were rented in 2009 from $3,000/month to $4,000/month.
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Mediterranean Revival architecture in Florida
April 16th, 2009 categories: Real Estate News
Florida homes in the Mediterranean Revival style owe much to Addison Mizner, who built many of these homes in the Palm Beach area. A real estate agent in Miami, Ines Hegedus-Garcia, who also has a degree in architecture, explains the Mediterranean Revival style in her blog.
This Mediterranean Revival style home is in the Old Pasadena neighborhood of St Petersburg Florida. Many of the characteristics that Ines discusses are found in this home: Cuban clay barrel tile, arched windows, rough textured stucco walls, chimney; rooms with exposed beams, informal and asymmetrical arrangement of rooms. This is a Schooley style home with the main portion built in the 1920s and an addition built in the 2000s that reflects the original character of the home. With nearly 6,000 sq ft of living area on just over 1/2 acre, this home can be purchased for $899,000 which is considerably less than the restoration cost of the home.
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