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Signature Place Market Update for 1st quarter 2013

Signature Place lobby

Signature Place lobby

 

2013 is starting out as aa good year for sales in Signature Place in downtown St Petersburg. There have been 7 sales, about the same rate as sales in 2012.  Sales in 2013 have ranged from $390,000 to $625,000.  Price per square foot has ranged from $285 to $433.  None of the large units have sold in the first quarter, so there haven’t been enough sales to make overall conclusions. Well priced units are selling within days if not hours and multiple offers are not unusual.

Signature Place is one of the newest condominiums in downtown St Petersburg and is a very contemporary building with many amenities. For many people, the contemporary feel is more important than the small size of most units and the many angled walls and columns.

SEARCH FOR CONDOS FOR SALE IN SIGNATURE PLACE

SEARCH FOR CONDOS FOR SALE IN DOWNTOWN ST PETERSBURG

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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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Signature Place condos Market Update 12-1-2011

12-1-11 Market Update for Signature Place condos in downtown St Petersburg Florida:

According to the My Florida Regional MLS there were 6 condos actively for sale at Signature Place on December 1st, ranging in price from $250,000 to $335,000.

Check   SIGNATURE PLACE CONDOS FOR SALE   here.

There were 3 condos sold at Signature Place during November 2011, ranging in price from $250,000 to $335,000. This brings the total sales for 2011 to 15 condos, priced from $200,000 to $785,000.  Read the rest of this entry »

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Signature Place condos selling quickly in St Petersburg Florida

The Signature Place condos are selling quickly in downtown St Petersburg, Florida. The recent condo auction at Signature Place started a buzz that hasn’t stopped. At the end of 2009, approximately 100 condos out of 245 had sold and closed since the start of closings in June 2009. Right now there are only 21 tower condos left at Signature Place and 16 “city” units. We’ve also found that the Signature Place condos for rent have been renting quickly. Contact The Simms Team at ALVA International,Inc. for more information on Signature Place condos for sale or for rent.

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Signature Place: Going Once, Going Twice, SOLD!

Signature Place condos in downtown St Petersburg Florida

Signature Place condos in downtown St Petersburg Florida

The Signature Place auction was held this afternoon and must be deemed a success. The space was Standing Room Only, all the units were sold, plus an additional 10 units that were added, and all of them sold above the minimum bid.

Depending on the floor plan, units sold from 22% to 73% over the minimum bid. Winning bids ranged from $174,000 for an 859 sq ft unit to $742,000 for a 2,319 sq ft unit. The average price per square foot also was a wide range, from $200/sf to $320/sf. Comparing the winning bids to the last asking prices, they ranged from 25% less to 53% less.

The most popular plan appeared to be the H plan, the long narrow plan in the northeast corner of the building. With 1,829 sq ft the average sale price was $515,250 which is $276/sq ft. The average price was 63% above the minimums set.

Additional units were being sold individually, at prices determined by the auction – none to be sold for less than the winning bids, adjusted by floor. This was still going on when I left, so I don’t yet know how many more sold then.

We should know prices on the remaining unsold units on Tuesday morning, when sales will be handled in the normal manner. Call your agent, or us, for more information.

The SIMMS Team at ALVA International, Inc. (727) 898-2582 at 238 Beach Drive NE in downtown St Petersburg.

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Signature Place Auction Day Checklist

Signature Place condos common area overlooking Tampa Bay

Signature Place condos common area overlooking Tampa Bay

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Signature Place Auction Day Checklist

____  1.  Make sure you have submitted your yellow Auction Registration card by Saturday, March 6th.

____  2.  Bring a certified check made out to yourself for $7,500.

____  3.  Bring a personal check. This should be left blank and will be used as your deposit – the difference between 10% of your successful bid and the $7,500.

____  4.  Bring photo identification: driver’s license or passport.

____  5.  Bring your preapproval letter from one of the three approved lenders, if you plan to have your contract subject to financing.

____  6.  Be at the Hilton Bayfront Hotel by noon on Sunday, March 7th.  Better to be there by 11:30 am and get the order of the condos being auctioned, so you can finalize your bidding strategy.

Suggestions:

Review the Signature Place  condo docs.

Review the Signature Place purchase agreement.

Preview the condos you’re interested in to check out whether flooring coverings have been installed and which colors and finishes were chosen for the kitchen, as well as checking how the floorplan “feels”, the view, and the size and shape of the balcony.  (You can e-mail Rob Johnson to get a link to photos of all the units)

Attend the Signature Place Practice Auction on Saturday, March 6th, 2010 at 4:30 pm at the Hilton St Petersburg Bayfront.

ALVA International, Inc. at 238 Beach Drive NE, St Petersburg, FL 33701 will be open on Saturday, March 6th from 10 am to 4 pm.  Stop by if you have any questions for The SIMMS Team.

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Signature Place auction is Sunday – get ready

Signature Place condo in downtown St Petersburg Florida

Signature Place condo in downtown St Petersburg Florida

Your Signature Place auction registration form (the yellow card) must be given to Signature Place by Saturday if you plan to attend the auction on Sunday.  This form is in addition to the Visitor Registration you would have signed to enter Signature Place and in addition to a Broker Registration Form, if you have a real estate agent representing you.

You cannot just show up on Sunday and decide to attend the auction, even if you have your checks with you.

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Signature Place adds 6 condos to their St Petersburg auction

Signature Place pool and gardens

Signature Place pool and gardens

Signature Place has added 6 condominium units to those being auctioned on March 7th, bringing the total to 41 auction condos at Signature Place St Petersburg. The minimum bids are similar to the earlier offered units and add those in the middle and upper size ranges. The minimum bids on the additional units range from $215,000 for a 2 bedroom 2 bath unit with 1,018 sq ft to $405,000 for a 2 bedroom 2.5 bath unit with 2,319 sq ft.

Contact The SIMMS Team for additional information. We are in Signature Place several times a week, and sometimes several times a day. We have photographs of over 30 of the units so that you can see the floor finishes and cabinet selections as well as the views from the units.

You cannot just walk into the auction on March 7th. You must be preregistered.  Further,  if you want to retain your right to be represented (at no additional cost to you since the fee is paid by the Seller) be sure your agent is with you when you walk into the building and/or register.

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Signature Place – FAQ 2

Signature Place condo in St Petersburg Florida

Signature Place condo in St Petersburg Florida

The Signature Place auction on March 7th of 35 condos really has downtown St Petersburg buzzing. Whenever we’re showing the units to clients and prospective buyers we find the halls busy and the elevators constantly in motion.

A frequently asked question is:  “Is there a 10% buyer’s fee charged at the auction in addition to the purchase price?” No.  Although that is not unusual at an auction, at the Signature Place condo auction there is no buyer’s premium charged.

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Signature Place St Petersburg FAQ 1

Signature Place St Pete outside garden and pool area

Signature Place St Pete outside garden and pool area

There’s been a lot of buzz in St Pete since the announcement of the auction of 35 units at Signature Place. We get several calls each day, so I thought I’d start answering a few of them online.

How much are the maintenance fees.?

Maintenance fees are generally 44¢ per square foot – so, for example, a 1,200 sq ft unit would have a maintenance fee of $528/mo.

Is that figured on the air conditioned size or does it include the terraces?

It’s based on the air conditioned size of the unit.

For more information on Signature Place or on the Signature Place auction on March 7th, please contact The Simms Team, ALVA International, Inc. in downtown St. Petersburg … or stop by our office at 238 Beach Drive NE – we’re the red awning just across from the Museum of Fine Arts.

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