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Significant property on Sydney Harbour Australia

Elaine is an exceptional property on Sydney Harbour in Australia

Significant offering in Sydney Australia

 

Elaine is  a unique waterfront property offering in Sydney, Australia and will likely be the largest holding to be sold into private hands on Sydney Harbour.  The grand Victorian mansion was built in 1863 and the property has both stables and a tennis court. A private gate leads to the secluded Seven Shillings Beach. Elaine has been in the family for four generations and  is a rare opportunity to own a historically significant property.

Why would you care about a property in Australia? Many international buyers have multiple homes, located around the globe. Christie’s makes it easy for you to buy and sell around the world.

For more information on this property, visit Elaine‘s property website and contact Ken Jacobs, exclusive affiliate for Christie’s, or visit his website.

 

 

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Luxury Home Sales in St Petersburg, Tierra Verde and Belleair

In the last year, there have been three luxury home sales over $5 Million in St Petersburg, Tierra Verde and Belleair, all in Pinellas County, Florida.  This is just 3/100 of  1% of  all single family home sales in Pinellas County. No condos sold over $5 Million in the last twelve months in Pinellas County.

The most recent sale is a waterfront home in Belleaire that sold this week for $6.2 Million. This is Hulk Hogan’s home with 17,145 sq ft. It was listed in 2006 for $25 million.

In December 2011 a waterfront home in Tierra Verde sold for $5.5 Million. It had 8,105 sq ft.

The highest sale in the last year was on Snell Isle. With 12,411 sq ft, it sold for $9 Million.

Looking at all residential sales in Pinellas County over the last year:
15,294 properties sold
2/100 of 1% (3) sold for over $5 Million
9/10 of 1% (142) sold for over $1 Million
5% (759) sold for over $500,000.

All of these statistics are from the My Florida Regional MLS and therefore do not include any sales that did not use the MLS.

All 3 of these luxury home sales were waterfront properties. Two of them, the ones on Snell Isle and Tierra Verde, were built by Windstar Homes. All of them were on lots of 1 acre to 1.5 acres. All were purchased for cash.

If you’d like help buying or selling a luxury home or condo, please contact The Simms Team at ALVA International, Inc.  We’re a small boutique real estate company on Beach Drive in downtown St Petersburg.

 

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St Petersburg Downtown Condos Market Update 2-16-12

Downtown St Petersburg condos and waterfront

Downtown St Petersburg Condos – Market Update 2-16-12

Frank Gregoire, guru appraiser, regularly attends the URBN Pitch marketing session for real estate agents, held weekly at BayWalk. He shares his research on neighborhoods, one by one.

Recently Gregoire shared his findings on downtown condos in St Petersburg. According to URBN pitch, he reported the following:

  • 76 active downtown St Pete condo listings as of 2/16/12
  • 22 of the 76 are distress sales (short sales, preforeclosures and bank owned)
  • 130 sold downtown St Pete condos in the last 12 months
  • Number of listings is constant.
  • Median sales price is up 7% in the last quarter for downtown St Pete condos
  • 11 month supply of listings

Gregoire also stated that condos listed at over $1 Million are starting to come back on the market.

For specific information on downtown condos, please contact The Simms Team at ALVA International, Inc. real estate.

 

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Do you need that extra bedroom in your downtown St Pete condo?

 Whether you’re looking for a 2 bedroom condo or a 3 bedroom condo in downtown St Petersburg, it’s worth asking whether you need that extra bedroom. If it’s for an office you’re going to be using everyday, or a craft/game room, or for a permanent resident, you probably do need it. My question is whether you need the extra guest bedroom. Is it for a family member who only comes for one week during the year? Is it for friends who may be there a couple of weeks a year? Consider the cost of buying the extra bedroom and then the additional maintenance cost and utilities. Compare that to the cost of putting them in a hotel nearby. There are downtown St Peterburg hotels in a variety of price ranges and several Bed & Breakfast inns. Some of the hotels are right next door to a condo.

Moving down from the north? Consider whether you want to be a hotel. Close friends will probably be welcome, but a series of acquaintances perhaps won’t be. Can you easily say No to a request to visit you? 

Perhaps you don’t want a smaller condo – you may still buy a 3 bedroom condo but make it into a 1 bedroom condo with 2 offices. Think outside the box on how you really want to use the condo you’re buying. Think smaller, think larger, think repurposing. 

Would some outside input help? A brainstorming session? Helping you with these things is just one of the things that you get from The Simms Team. Contact Sharon, Tami or Rob to meet with you early in the process, when you’re starting to explore whether you even want to move to a condo. 

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Countdown at Ovation: only 4 new condos left

 

 

 

Ovation, the premiere luxury condo in downtown St Petersburg, is on the final stretch with only 4 new condos still available. The least expensive is $1,590,000. Two of the four available can still be customized with your choices (included in the price). If you want it finished your way, now’s the time to buy.

For buyer representation at Ovation, contact The Simms Team.

 

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How many condos in your building are rented?

Does it matter how many condos in your building are rented? Yes,it does. Almost all the condos in downtown St Petersburg have some renters, so the question is really “What percentage of condos in the building (or complex) are rented?”

From a value perspective, it matters because the percentage of rented units matters to a lender. If you’re buying a unit, you won’t be able to get a conventional mortgage on the property if there is a higher % of rentals than the lender will allow. If you own a unit and may be selling it, if prospective buyers can’t get a mortgage, then the number of potential buyers decreases and the value of the unit decreases.

From a lifestyle perspective, it matters because there’s a different feel to a building that is primarily owner occupied and one that is primarily renter occupied. There is no magic number. It will also affect the feel if the renters are mostly short term or whether they stay a year or more.

From another financial perspective, it matters because owners living in the building and absentee owners who are renting the unit out often have different view – and votes – on issues from building reserves to rental policies.

Your real estate agent should be able to give you a general idea of how many are rented. You can also check with the Pinellas County property appraiser and see what percentage of units have a Homestead Exemption.That’s not an exact determination, but is a gauge. Your relationship with your real estate agent shouldn’t end with the sale. Call your agent when you have questions, whether it’s about rentals in the building, changes to make to your home, or even where to find a pet psychoanalyst.

 

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Pinellas County Supply of Homes

 At the end of December 2011, there were 8,030 residential properties on the market in Pinellas County, Florida, according to the Pinellas Realtor Organization. That’s 31% less than the  11,719 properties on the market at the end of December 2011. 

To be more significant, let’s relate that to supply. At the end of 2009 there was a 12 month supply of properties in Pinellas County. At the end of 2010 there was a 9 month supply. At the end of 2011 the supply was down to a 6 month supply, which historically is a balanced buyer/seller market. 

Remember that this is only an average. Some neighborhoods and condos have much less supply, some much more. For more information on your specific neighborhood, please contact The Simms Team at ALVA International, Inc. real estate.

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Luxury Condos in downtown St Petersburg Market Update

Downtown St Petersburg condos

There are currently 17 downtown St Pete condos being marketed at over $1,000,000 that are resales, plus the last few new condos at Ovation. 14 of these luxury condos are priced between $1 million and $2 million: 400 Beach has 2; Ovation has 3; Parkshore Plaza has 3; Signature Place has 1; Vinoy Place has 3 and Florencia has 2. Most of these range from 2,750 sq ft to 3,675 sq ft with one exception at each end.

One resale luxury condo at Ovation is priced at $2,000,000; one double unit at Florencia is priced at $2,900,000 and one penthouse unit at Vinoy Place is priced at $3,200.000.

In the last year 9 downtown St Pete luxury resale condos sold at over $1,000,000, according to the My Florida Regional MLS. All but one of these sold between 1 and 2 Million dollars: 3 at Parkshore Plaza, 4 at 400 Beach, 1 at Vinoy Place, and 1 at Ovation.  Please note that these figures do not include the new condos sold at Ovation, including a double unit that sold at $4,150,000.

For more information on any of these downtown luxury condos please contact The Simms Team at ALVA International, Inc. at 238 Beach Drive NE.

 

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400 Beach and Parkshore Plaza

 

 

 

 

 

 

 

 

 

400 Beach and Parkshore Plaza were both developed by Opus South, a year apart. The two luxury condominiums a block apart on Beach Drive have many similarities, but each has a different flavor. The common areas at Parkshore have a more traditional decor; 400 Beach is more New York contemporary. The pool at Parkshore is surrounded by the building; at 400 Beach it has a view of the water. Parkshore has a more central location and 400 Beach is built and angled a bit more to the east so has better views of the Skyway. The floor plans of the majority of the tower, 4 per floor, are similar yet have differences. Both are worth looking at if you’re in the market for a luxury condo in downtown St Petersburg.

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Most expensive condo sale in Pinellas County 2011

It’s always interesting to see where and what were the most expensive sales in a year. The highest condo sale in 2011 in Pinellas County sold for over $4,000,000. It wasn’t on the Gulf of Mexico, it was in downtown St Petersburg in the Ovation condo. There were also sales at Ovation in 2010 that were over $4,000,000. All of the larger units and penthouses have sold. The developer has 5 units left, starting at $1,590,000. There are also a few resales available.

Contact The Simms Team at ALVA International for more information and for Buyer Representation.

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