Florida.Simms.com

Choose Your Lifestyle

Categories

Translator

Archives

400 Beach

400 Beach condominiumsNotes from Rob:

Had a familiar call today. Someone called and wanted to talk about downtown condos. We started by talking about Vinoy Place, which are very nice condos sitting right on Tampa Bay. Unfortunately, the units were too large for this invididual, so the subject went on to 400 Beach. As with most buyers who have been watching our market, he knew that the developer was having financial difficulties. He wanted to know if 400 Beach was a safe investment. As a Realtor, I cannot give investment advice, so I just spoke about my thoughts on the project.

Right now a buyer can put in an unsecured offer to the developer.  Then it is submitted to the bank for approval.  It is possible that some buyers will get some very good deals out of it.  What about the condo association, is it strong?  The developer still owns less than 25% of the units.  That means over 75% are owned by other homeowners who are just as concerned about keeping the condo association solvent and financially healthy.  If you are trying to buy low and flip quickly, I wouldn’t recommend this building (or any other in today’s market).  But if you plan to live in it for a few years and enjoy the great downtown St Petersburg, this could be a golden opportunity for you.

If 400 Beach is not your cup of tea, Signature Place opens next month, and Ovation follows soon after.  Lots to see and plenty to choose from.

Spoken by Rob Johnson | Discussion: No Comments »

Downtown Condos

Notes from Rob:

Usually I sleep very well, but from 4 a.m. on this morning, I could not get downtown condos out of my mind.  Can’t explain it, maybe just because so many conversations at the office lately have been on the topic.  I keep telling clients about the great deals at Signature Place if you want to get into a stunning new building at a low cost.  The building should be finished this month and owners start closing on the units next month.  Will be nice to see some real activity in the building other than construction crews.

400 BeachThis week lots of talk about 400 Beach and the financial situation of its developer.  If you like modern and want a view of Tampa Bay, this is your chance since they are taking unsecured offers on all the units still unsold.  Don’t know what they will accept, but if you loved the $850,000 unit, you could offer $550,000 and see what they say.  No money down and no commitment…could be a great opportunity.

Vinoy PlaceThen my mind would wonder off to Vinoy Place.  I want to sell one unit that I think is special.  Had some clients that I thought were very interested…turned out the “buyer” was just showing off for his girlfriend and was in no position to buy.  Oh well, we keep trying.  But one of these days I am going to find the right buyer for the unit.  We actually had clients in it years ago, but had to sell when they moved overseas.  They still miss the unit.  On the 5th floor with great views.  The seller just lowered the price $100,000.  Someone is going to get a good deal.

Don’t know why these buildings were keeping me from sleep this morning, but they were.  One of the nice things about our office is that I can see all of these buildings from out front and when I am discussing them with clients, I can just take them outside and point to them all as I go over the pros and cons of each.  Because if you know me, you know I like to talk, and I love to talk about real estate, St Petersburg, and my family.

Spoken by Rob Johnson | Discussion: No Comments »

Add to Technorati Favorites Directory of Real Estate Blogs Real Estate Blogs - Blog Top Sites

Copyright © 2007 Florida Simms     Agent Login     Design by Real Estate Tomato     Powered by Tomato Blogs