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Old Northeast Market Update – Conclusion

Northeast Quadrant of Old Northeast

Old Northeast Quadrant 4

For today’s final installment in the Old Northeast Market Analysis series, we’re looking at the quadrant that contains Historic Granada Terrace, from 22nd Avenue N north to 30th Avenue N and from 1st Street east to Coffee Pot Bayou. It’s a very small sample, to be sure, and very distinctive in style. Many of the homes are of the Mediterranean style, and historic guidelines ensure that new homes and additions/remodels stay true to the character of the neighborhood. The eastern border of the quadrant has sidewalks running alongside the water, ideal for jogging, walking and just enjoying the views, including lots of birds and sometimes a manatee.Old Northeast Quadrant 4 Chart 1

In addition to being a very small data sample, there’s also a big disparity in the homes – you’ll find some blocks with the large, distinctive Spanish homes we referenced above, and some blocks with small 1950’s block homes. This makes the data very hard to interpret, especially averages. For example, in 2008, the average price of 4 closed sales was $701,250, compared with the average price of 2 closed sales in 2009 at $192,500. There are only a few clear pictures we can glean. Read the rest of this entry »

Spoken by Tami Simms | Discussion: No Comments »

Old Northeast Market Update – Part 4

Northwest Quadrant of Old Northeast Neighborhood

Old Northeast Quadrant 3

Continuing with our week-long series of analyzing the last five and a half years of housing data for the Old Northeast neighborhood, today we’re focusing on the section that is often overlooked, from 22nd Avenue N north to 30th Avenue N, and from 4th Street N east to 1st Street N. Despite that fact that many don’t consider it to be part of the Old Northeast, it has many of the same characteristics, including brick streets lined by shady trees, charming architecture and a very walkable feel. Although it’s not as close to the parks along North Shore Drive, it is extremely close to Coffee Pot Bayou, with sidewalks along the water, a lovely park and playground, and a public boat launch. And although it’s a little further from downtown St. Petersburg, it’s very close to grocery and shopping centers.

This segment is smaller and has far fewer homes than the neighborhood south of 22nd Avenue N, so it’s important to remember that as we look at the data. Many of the lots here are larger than those in the southwestern quadrant, so the additional land value impacts price per square foot ($/sq ft). As in the other parts of the neighborhood, 2011 seems to have been the turning point in the market, with a marked increase in total number of sales. The most significant difference between this and the other quadrants isOld Northeast Northwest Quadrant that average sale price is still nearly $100,000 lower than in 2008 (currently $287,929 versus $383,500 in 2008). Oddly though, the average number of sales and $/sq ft is nearly identical to 2008 which would indicate that fewer of the larger homes in this quadrant have sold recently.

Read the rest of this entry »

Spoken by Tami Simms | Discussion: No Comments »

Old Northeast Market Update – Part 3

Southeast Quadrant of Old Northeast Neighborhood

Old Northeast Quadrant 2

For today’s look at the Old Northeast market activity over the last five years plus 2013 year-to-date, we’re focusing on the quadrant that most people consider the “true” Old Northeast – from 1st Street east to Beach Drive NE, and from 5th Avenue N north to 22nd Avenue N.  It has the largest number of homes in our analysis. We’ve purposely left out the North Shore area east of Beach Drive because it has a completely different dynamic. Now, to be sure, some folks will say that the character of the neighborhood changes south of 12th or 13th Avenue, but there has to be a limit to how much we slice and dice the data!

Just like the rest of the neighborhood, it’s clear that 2011 was the turning point for recovery. Average sale price hit bottom at $365,148, average price per square foot ($/sq ft) hit a low of $165, and from then on, both of those figures have increased continually. For the current year-to-date, average sale price is up to $531,437, and $/sq ft is at $230, both figures being higher than 2008.Southeast Quadrant of Old Northeast Neighborhood

Total number of sales spiked in 2012, an indication of the recovery as buyers burned through the inventory. Sales for 2013 are on a healthy pace, already 84% of last year’s total and only 7 full months into the year. Read the rest of this entry »

Spoken by Tami Simms | Discussion: No Comments »

Old Northeast Market Update – Part 2

Southwest Quadrant of Old Northeast

Old Northeast Quadrant 1

As we said in yesterday’s introductory post, the Old Northeast neighborhood has very distinct sections. To start with our individual analyses, we’re looking at the area from 4th Street N east to 1st Street N, and from 5th Avenue N north to 22nd Avenue N. It’s not the “sexiest” part of the neighborhood, but it’s often where you can get “more bang for your buck.”

The homes in this area tend to be a bit smaller, with a vast majority being the cute bungalow style. Particularly as you get closer to busy 4th Street, there are not as many homes that have been remodeled as in other parts of the neighborhood, which contributes to a lower average sale price (currently $327,359 for 2013 year-to-date, 29% lower than the Old Northeast as a whole, and 38% lower than the quadrant east of 1st Street).  Read the rest of this entry »

Spoken by Tami Simms | Discussion: No Comments »

Old Northeast Neighborhood Market Update

OldNortheastMap

Old Northeast Map

The Old Northeast remains one of the most popular neighborhoods in St. Petersburg. Its charming homes, from small bungalows to grand showplaces, appeal to many who don’t care for cookie-cutter environments. Most of the neighborhood enjoys shady tree-lined streets, many of them paved in old brick, hexagon sidewalks, lovely landscaping and creative architectural styles. With the downtown waterfront park system running adjacent, it’s a place that invites its residents to get out and enjoy outdoor activities. Its proximity to downtown, bustling with entertainment and cultural activities, and its easy access to the interstate system, make it even more attractive.

Officially, the Old Northeast runs from 5th Avenue N to 30th Avenue N and from 4th Street east to the water. There are “purists” who insist that it runs only from 1st Street to the water, and stops at 22nd Ave N, often referred to as “Historic Old Northeast.” The area from 1st Street east to Coffee Pot Bayou and from 22nd Avenue to 30th Avenue has its own designation as Historic Granada Terrace, and the grid from 22nd Avenue to 30th Avenue between 1st and 4th Streets is often completely disregarded in the conversation.

Home Sales in the Old Northeast

We took a look at the last five years’ historical data, as well as the current year to date, to satisfy our curiosity about market trends. For the exercise, we broke the whole neighborhood into four grids as described above, and confirmed that Read the rest of this entry »

Spoken by Tami Simms | Discussion: No Comments »

Old Northeast named Best Old House Neighborhood 2012

Old Northeast neighborhood St Petersburg FL

The Old Northeast in St Petersburg Florida has been named to the Best Old House Neighborhoods 2012: South by This Old Home. It is the only Florida neighborhood on the list of fifteen.

This Old Home is correct in pointing out the many benefits of the neighborhood:

  • Eclectic mix of styles: Craftsman, Colonial, Mediterranean, Italian
  • Tree lined streets, brick streets (and hexagonal block sidewalks that they didn’t mention)
  • Annual events such as Easter Egg Hunts and Halloween festivities (and flags changing with the seasons)
  • Waterfront parks
  • Nearby restaurants, shops, museums, art and cultural events

It ranked among the best in various categories: waterfront, bungalows and cottages, South, family friendly, gardening, recreation and parks, lots to do, American Heritage and Editors’ Picks.

This Old Home was a bit off, though in saying neighborhood prices ranged from $90,000 to $400,000. The multiple listing shows single family homes ranging from $146,500 to $1,495,000. If you’re interested in buying or selling a home in the Old Northeast, please contact The Simms Team at ALVA International, Inc.

 

Spoken by Sharon Simms | Discussion: No Comments »

Patio, porch, lanai, veranda: What’s the difference?

 Homes in St Petersburg and all around Florida often advertise a patio, porch, veranda or lanai. What’s the difference between them?

A patio is typically an outdoor space adjacent to a residence that is paved and does not have a roof. It may use pavers, brick, stone or concrete (if it’s made of wood, it would typically be called a deck). It’s used for relaxing, recreation or dining. In Spanish style homes it may refer to the interior courtyard. Many masonry homes in the St Petersburg area will have patios, especially smaller ones.

A porch is an extension to the exterior of a house, generally at the same level as the floor inside. It usually has a wood floor and generally has a roof. It may be on the front, back or side of the home and a home may have multiple porches. The sides may be open, screened, glassed or have lattice. It can be utilitarian, to protect you from the elements while you’re waiting to enter the home or a place to take off your boots or garden shoes; it can be the size of a room, with furniture for relaxing or dining. The materials and style are generally compatible with the house it’s attached to. Frame homes in older St Petersburg neighborhoods like the Old Northeast and Kenwood will typically have porches.

A veranda or verandah may be a large porch that’s a room for entertaining or it may be a gallery running along one or more sides of the home, roofed, perhaps with a railing. Often a verandah will wrap around a house – think Victorian or New Orleans style here – perhaps on the front and both sides. Verandas aren’t as common in St Petersburg but there are occasional Victorian style homes and some of the 1920s Mediterranean style homes will have them.

A lanai is less frequently defined, and often as a roofed porch or verandah. Actually it’s the Hawaiian word for patio or balcony. In Florida we wouldn’t use lanai for a balcony. A lanai is a typical term in a tropical climate and generally is furnished like a room. It may have removable panels of glass, screen or plastic and would usually have a hard surface floor, similar to a patio. Lanais are found in many St Petersburg neighborhoods – think of the masonry waterfront homes in Venetian Isles, Broadwater and Yacht Club Estates.

Like so many terms, these will mean different things in different parts of the country. Not only that, even in the same city you’ll find the terms aren’t used consistently. In St Petersburg real estate the terms patio, porch and lanai may be used to describe the same space, depending on who is doing the describing. 

Spoken by Sharon Simms | Discussion: No Comments »

The Old Northeast neighborhood

 The Old Northeast neighborhood in St Peterburg, Florida, is one of the most popular neighborhoods in the city. Part of this is due to its location: it’s close to downtown, it’s close to the waterfront; it’s close to parks; and it’s not far from I-275.  The Old Northeast is also popular because of its feel: shady streets with sidewalks. Many of the streets are brick and many of the sidewalks have hexagonal blocks. There is a variety of architectural styles: Colonial, Mediterranean and bungalow, to name some of the most popular. The size of the homes varies as well, from small homes with 2 bedrooms and 1 bath to expansive homes with several thousand square feet 

The design of the Old Northeast encourages a neighborhood. The garages are generally in the back of the houses on an alley. Most of the homes have front porches. Communication flows easily between someone walking on the sidewalk and someone sitting on their front porch, so neighbors get to know one another. With the convenience of the Old Northeast and the variety of homes, often two or three generations of a family have homes in the area. The Old Northeast is known for holiday decorations, whether Christmas, Halloween or the Fourth of July.

The disadvantages? Generally the lots are small so you are very close to your neighbors. If you want a pool, it may take up the whole back yard. Most of the homes are older which means that in addition to character you get small closets, smaller and fewer bathrooms, and the garage may not accommodate your cars. You can renovate or perhaps add-on or, if you’re lucky, you might find one that’s already renovated to your taste.

For information on homes in the Old Northeast, call 727-898-2582 or email the Simms Team at ALVA International, Inc real estate. 

 

Spoken by Sharon Simms | Discussion: No Comments »

Walkability and Walk Score

Bayfront Tower Walk Score

Many buyers today want to be able to walk to restaurants, shopping, museums, entertainment. They want to be able to go out in the evening and not have to drive home.

Are you aware of the iPhone app WALK SCORE? Bayfront Tower, for example, scores an 82.  Parkshore Plaza scores an 83. Both are “very walkable”. A house on 16th Ave NE may have a score of 34 and one on Venetian Isles a score of 12. 

You can also sort for specifics for an address (or have the app use your location) and the app will show you grocery stores, restaurants, coffee shops, schools, hardware stores, etc. So  – it’s useful for when you’re traveling as well as when you’re shopping for a home or condo. 

 

Spoken by Sharon Simms | Discussion: No Comments »

Old Northeast Bargains

Notes from Rob

Many of the visitors to our city fall in love with the Old Northeast neighborhood, which is right next to our downtown. The Old Northeast allows people to live in historic, single family homes, and the ability to walk to our shops and restaurants in minutes. While many of the updated homes on the water can sell for over a million dollars, there are also many cute, smaller homes that are much more affordable. I took a look at some of these homes, starting with houses have at least 2-bedrooms and 2-bathrooms.

In 2009, 6 homes sold below $290,000, and 2 of those were below $200,000. In 2010, we had 9 sales below $300,000 and 1 of those was below the $200,000 mark. And this year, in 2011, Read the rest of this entry »

Spoken by Rob Johnson | Discussion: No Comments »

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