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Beach Bungalows

Notes from Rob:

Everyone on our team has strengths and specialties.  Due to our location on Beach Drive, we all know a lot about Downtown condos and I love spending hours with clients or just interested “walkers” who stop by our inviting outside table and chairs and just want to talk about the market, real estate in general, or downtown condos.  My wife is a beach person, always has been and always will be.  My dream is to find her a beach front condo that we can rent (in our limited budget) so that she can wake up and fall asleep to the sound of waves (if anybody knows of one that is coming available in August and won’t cost me an arm and a leg, give me a call).  Because we spend many of our evenings walking St Pete Beach, Treasure Island and Madeira Beach, I have learned more and more about the Beach and the individual condo developments. 

 

Recently I have seen a lot of interest in beach “bungalows.”  We are not talking about those right on the sand and their million dollar price tag, but rather small 2-bedroom, 1-bathroom houses that are within walking distance to the beach.  You would be surprised at the nice little places you can now buy for less than $250,000.  Have one under contract right now that closes on Friday that was listed for under $200,000.  Small, but a very cute house.  As they showed it off to their friends, they have tasked me to find another one just like it for them.  The best I have found for them is ½ mile north for $219,900.  The best thing of all is that neither is a short sale.  If you add short sales into the mix, there are several nice homes under contract around the $150,000 mark.  But then you are waiting for months on end for the bank to make a decision, and in most cases the bank hasn’t even agreed to sell at the list price, let alone the offers that are usually considerable lower than that.

 

I think the lower prices are what are finally bringing some of the second home buyers back into the market.  When they had to spend $400,000 plus for a home they were only going to use 2 or 3 months a year, they can’t justify the expense.  But as the prices have dropped, I have seen a significant increase from those folks from up north looking for that get-away home that we can provide along our beautiful beaches.

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