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Signature Place Resales

Signature Place St Petersburg

Signature Place St Petersburg

Notes from Rob

In January the developer sold the last of the original units in the building to make Signature Place sold out. The newspaper claimed that had happened last year, but the honest answer is that the last unit closed this year. Now we can discuss resales. As we talk about resales, we need to look at them as BA and AA. For those who bought before the Auction in March 2010, it will take much longer for them to sell at a price near what they bought for. Of the three resales from units originally bought in 2009, the resales in 2010 after the auction was considerably lower than their purchase prices (about 28% lower). However, there have now been six resales for units purchased at or after the auction. The have all sold between 10 to 25% above their purchase prices. Of course, the lower the purchase price, the higher the rate of return. Great for the owners, but tough on buyers who want to get into the building. Right now there is only one unit for sale in the building, which is on the 27th floor for $489,000. If you are interested in becoming my 14th sale in the building, give me a call!

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