The Simms Team – your Florida real estate connection
Sharon Simms, daughter Tami Simms-Powel, son Rob Johnson, and long-time “adopted” daughter Amy Grashel welcome you to the St. Petersburg area and invite you to discuss your real estate needs with us – whether it’s a property here in the Tampa Bay area or a home anywhere else in the world. Our ALVA International, Inc. office is located in downtown St Pete, at 238 Beach Drive NE, right across from the Museum of Fine Arts, Straub Park, and the marina. Whether it’s an urban lifestyle in downtown St Pete or a waterfront home on Snell Isle, a condo on one of our white sand beaches or a brand new home 30 minutes away, one of us will be able to help you. It all starts with a conversation …
Signature Place
September 2nd, 2010 Categories: Signature Place
Signature Place condos
Notes from Rob:
A lot has happened to Signature Place since pre-construction sales started in 2006. Initial sales went very well, despite the market as it was starting to turn down. But by the time the building was completed in 2009 the market was down significantly and many of the buyers were questioning their investment. The developer then significantly dropped their prices for everyone in a hope to lure new buyers and keep the existing ones in check. That helped with some, but not others. Financing had tightened, especially for investors. By the beginning of 2010, about 80 Signature Place units had been sold of the 244 total. At that point the lenders wanted something to happen and in March an auction was held and 60 units were quickly sold. Since then sales have remained steady. As of yesterday, there are about 20 units under contract, and only 9 left for purchase with prices ranging from $185,000 to $1,044,000 (for the small penthouse). Soon they should be able to finally say the building was sold out. It was not as quick as they had hoped, but in today’s real estate market, selling out a condo building with 244 units in just over a year after completion is a success story. The developer actually raised the prices on 2 of the remaining 9 units at Signature Place, citing supply and demand. If you have liked the project and were waiting to see what happens, your chance to get in at the beginning is almost over. If you are interested in seeing any of the units still available, give us a call at ALVA International, 727-898-2582.
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St Petersburg Real Estate Market Report August 2010 – Preliminary
September 1st, 2010 Categories: Market Updates
St Petersburg Real Estate Market Report August 2010 – Preliminary
Most monthly property reports don’t come out for a couple more weeks – some that cover larger areas don’t come out for a couple of months, which always gives you old news. This St Petersburg real estate market report is considered preliminary because not all statistics have yet been reported to the Multiple Listing Service. The Pinellas Realtor Organization will wait til approximately the 5th of the month before compiling statistics, so those figures will vary somewhat from these. For that matter, statistics done at 3 pm may be different from those done at 2 pm because additional transactions have been entered into the MLS. So – take these figures as timely, but preliminary.
Single Family Homes in St. Petersburg:
In August 2010 there were 172 single family homes sold in St. Petersburg. This compares with 239 homes sold in August 2009, a drop of 28%. It’s more relevant to compare figures with the same month a year ago as to last month as that takes seasonal differences into account. The average St Petersburg sale price for a single family home in August 2010 was $125,866, down 21% from the average home sale price for the same area in August 2009. There were 2,190 single family homes actively on the market in St Pete at the end of August 2010 – indicating a 13 month supply of homes. The average listed home is $261,359 and has been on the market in the current listing for 145 days. Prices range from $8,500 to $7,500,000.
Condos, villas and townhomes in St Petersburg
In August 2010 there were 75 condos sold in St. Petersburg. This compares with 80 condos sold in August 2009, a drop of only 6%. The average sale price for a condo in St Petersburg during August 2010 was $138,762, down 25% from the average sale price in August 2009. There were 1,154 condos actively on the market in St Pete at the end of August 2010 – indicating a price drop of 25% over the last year. There is a 15 month supply of condos. The average condo listed in the MLS in St Petersburg is $176,831 and has been on the market for 152 days in the current listing. Prices range from $15,000 to $3,500,000.
To discuss buying or selling a property in St Petersburg, you can reach The Simms Team at ALVA International, Inc. real estate in downtown St. Petersburg at (727) 898-2582 or see The Simms Team website at http://www.ssimms.com
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Demand for Large Homes is Declining in Pinellas County
August 23rd, 2010 Categories: Market Updates
The demand for large homes in declining in Pinellas County, just as it is across the country. Trulia did a survey and found that only 9% of the people surveyed said their ideal home (not even affordable, but ideal) was over 3,200 sq ft. There was an interesting articles I read this week on CNBC.com: ‘Death of the ‘McMansion’: Era of Huge Homes is Over.
Buyers are more concerned with ongoing costs and ask about the maintenance costs, the property taxes, the insurance, the utility costs. They no longer want to pay each month for space that they use infrequently or use for storage. Drastic price reductions bring the purchase price within the range of more buyers, but often these buyers can’t afford the operating costs for that larger home. More buyers are concerned with practicality, with “greenness”; they’re more concerned about quality than size.
In the last six months, 299 homes over 3,000 sq ft sold in Pinellas County, down from 446 in the same period five years ago. Here’s how size correlates with time on the market here in Pinellas County:
Single family homes over 3,000 sq ft: 18 month supply
Single family homes over 4,000 sq ft: 31 month supply
Single family homes over 5,000 sq ft: 53 month supply
Single family homes over 7,500 sq ft: 216 month supply
Single family homes over 10,000 sq ft: ??? None sold in the last six months
The number of homes sold in the last six months compared to the same six month period five years ago in 2005:
- Over 3,000 sq ft: down 33%
- Over 5,000 sq ft: down 50%
- Over 7,500 sq ft: down 75%
There are currently 897 single family homes on the market in Pinellas County that are over 3,000 sq ft. If you ARE looking for a large home, there are some great values out there now.
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St Petersburg Sunrise
August 19th, 2010 Categories: Lifestyle
St Petersburg Sunrise on a Broadwater canal
This St Petersburg sunrise was spectacular. The sun reflecting from the clouds looked like flowing gold on the canal this morning. When I passed this early this morning, I had to back up and take a photo. Not a bad capture for an iPhone! This was taken looking west, which shows that reflections can be beautiful, too.
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St. Petersburg’s Beach Drive is ‘Best Place to Be’
August 18th, 2010 Categories: Downtown St Petersburg
St. Petersburg’s Beach Drive is ‘best place to be’ reads a headline in this morning’s St Petersburg Times. And they’re right!
Beach Drive in downtown St Petersburg is pedestrian friendly
An empty Beach Drive Optical shop was the trigger for us to open our own real estate office, ALVA International, Inc. on Beach Drive. We’re right in the middle of restaurants, shops and museums (and about 2,000 condo units in downtown St Pete, many of which are right on Beach Drive) and where many of our current and potential clients stroll by. Early dogwalkers, people heading out for a morning latte or espresso, shoppers, those strolling to lunch, or to the museums exhibits. The Museum of Fine Arts, which has thrived and on Beach Drive for years, is right across from our office. Straub Park has art shows and concerts and music and movies. Boats anchor in the Vinoy Basin.
We love being able to walk to lunch or to get an afternoon gelato. We love seeing the many weekend activities that are going on in the parks. We enjoy the exhibits at the museums and galleries that surround us.
In spring and fall, when the weather is balmy and wonderful, we enjoy sitting outside our office and watching the world go by, talking to passersby and yes, even working, since our iPads and iPhones keep us connected outside the office.
If you haven’t been to downtown to Beach Drive lately, make a point of coming to see all that’s going on. And if you’d like – stop in to see The Simms Team at ALVA International!
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Sunset from our dock
August 11th, 2010 Categories: Lifestyle
Sunset over Boca Ciega Bay
Lately sunset has been about 8:15 pm (getting a minute earlier every night) so I get the chance to get home and watch it. Generally by then the afternoon rains have passed as well. The sunset itself is generally worth seeing, but I enjoy watching the changing colors and patterns in the sky after the sun has disappeared under the horizon.
Our boat, anchored between the tie poles to the left of the dock, would have blocked half of the view and most of the water. So – I’m glad we recently sold it! The newer, smaller one will be on the lift “behind” the dock so it won’t block the view (and won’t need monthly bottom cleaning). Hooray!
This photo was taken with my new iPhone 4G – not bad for a cellphone photo!
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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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