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Beachfront Condos

Beach condos in Pinellas County Florida

Beach condos in Pinellas County Florida

Notes from Rob:

It has been interesting to watch the prices of beachfront condos rise and fall over the past few years.  Back in 2005 and 2006, if you were wanted a condo on the beach, where you could listen to the waves on your balcony, you would be paying a minimum of $500,000 for a very small unit, in need of major updating.  I remember negotiating a deal for a 3-bedroom condo at the Reef Club in January 2008.  We were thrilled to get our offer accepted at $487,500.  The only two sales in the building in the last two years sold for $340,000 and $335,000.  When we sold our listing in Angler’s Cove for $580,000 in 2007, we had highly recommend our seller take the offer and be done with it.  The last sale in the building for a similar unit was for less than $370,000.  In the Bella Grande on St Pete Beach units that sold for over $600,000 are now selling for $400,000 and less.  If you are a seller, you are not happy with these numbers.  However, if you are a buyer, it is a great time to finally own your piece of the ocean (yes, I know it is the Gulf of Mexico).  I was showing beachfront condos all weekend and here are the prices your are looking at today.  For $350,000 I can get you a small, 2-bedroom unit in need of some work in a 30-year old building.  For $450,000 you can upgrade nicely to a 2-bedroom unit in move-in condition.  For the bells and whistles, in a newer building, you are going to spend at least $600,000, but that is so much better than the $800,000 plus you were spending in 2006.  In my building, one of the units sold for $1,200,000.  Today it is a short-sale and is listed at $650,000.  So yes, if you have been dreaming of your condo on the beach.  It is time to start living your dream.

Spoken by Rob Johnson | Discussion: No Comments »

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