Pinellas Beaches & Commercial

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1 Waterfront Equity & Investment Property Wizard Pinellas Beaches & Commercial Vol YOUR FINEST REAL ESTATE EXPERIENCE...GUARANTEED! Donna Reichenbach, GRI, CIPS, TRC Waterfront Property Specialist Michael Reichenbach, CCIM, SFR, CIPS, TRC Commercial Broker Associate Our goal is to provide you up to date information and knowledge: The ups and downs of our local markets for waterfront homes, condos and estate homes. Award winning expertise, negotiations and representation for your needs. Needed info on Short Sales, REO s, and ramifications, requirements and opportunities. True real estate values in today s market. The latest tips on commercial real estate, investment, financing, and business opportunities. Answers for all your real estate questions If we don t know, we can find out. that cannot be changed, and that includes location and the view. The seasons have started including the summer buying season where those Buyers who have kids, grandkids, school concerns, or term schedule concerns will now be in the market. Their time to shop is limited so if you are considering the market call Donna or me and find out what your property will actually sell for in today s market. If you don t have anything better to do with the money and like to gamble, then hold on for a while and see if the market forces will all continue to be strong. Typical market forces Buyers consider include the amount of properties available in the market and local inventory is now low, interest rates that will affect monthly payments which are also low, and extra costs such as taxes and insurance. Taxes are fixed to the price and insurance is still a big problem since all that the government has done is kick the can down the road, and insurance Brokers are informing Buyers of the projected new FEMA maps and time limits. If you are on the water you have one of the main things Buyers want here, and that is location, and Donna always reminds people to consider first about the things The second season is of course, Hurricane season. If you do not have an emergency plan, now may be a good time to get one and include: Regional or Local Meeting Place Evacuation Location Emergency Numbers for contacts & family members Medical Phone Numbers including pharmacist Insurance Numbers Documents needed Drivers License or ID or Credit Cards Medical Records and scripts and Insurance Pol Doctor s, attorney and accountant contact # Bank account # s & savings and investments Household inventory Wills, Trusts and Living Wills, Titles for prop. Passports, birth certificates, adoption certificates, marriage certificates Military and educational records for self/kids Other papers that would be hard to replace The standard Evacuation kit for either Going to a Public Shelter

2 Pinellas Beach Real Estate Statistics June, 2014 Item Detail Residential Properties Madeira Beach 69 Properties Active and 10 Sold in June $302/SF asked in MB for Active Listings and $257/SF accepted for Sold Listings. Residential Properties Treasure Island 141 Properties Active and 27 Sold in June $307/SF asked in TI for Active Listings and $227/SF accepted for Sold Listings Residential Properties in the 3 Redingtons 132 Properties Active and 23 Sold in June $323/SF asked in Redingtons for Active Listings and $267/SF accepted for Sold Listings Residential Properties in St Pete Beach 138 Properties Active and 22 Sold in June $320/SF asked in St Pete Beach for Active Listings and $228/SF accepted for Sold Listings Residential Properties in Indian Shores/Rocks 162 Properties Active and 24 Sold in June 329/SF asked in Indian Shore & Rocks for Active Listings and $288/SF accepted for Sold Listings Residential Properties in Belleair Bch & Shore 48 Properties Active and 3 Sold in June $369/SF asked in Belleair Bch & Shore for Active Listings and $267/SF accepted for Sold Listings Residential Properties in Clearwater Bch/Island Est 287 Properties Active and 51 Sold in June $358/SF asked in Clearwater for Active Listings and $305/SF accepted for Sold Listings Residential Properties in Tierra Verde/Isla Del Sol 292 Properties Active and 34 Sold in June $260/SF asked in Tierra Verde for Active Listings and $208/SF accepted for Sold Listings Multi Family Properties Pinellas Barrier Islands 55 Properties Active and 7 Sold in June $316/SF asked for Multi-Family Active Listings and $180/SF accepted for Sold Listings Commercial Properties Pinellas Beaches for sale 49 Properties Active and 2 sold in June $322/SF asked for Listings and $199/SF accepted for Sold Listings Statistics per MLS as of 07/10/14 To - Go bag if staying with friends or relatives To Go bag if travelling to a hotel Prepare your home and car for departure including turning off utilities, filling tank, telling neighbors Pets have to be planned for as to carrier, ID s, shot records, food and water, pet friendly motels and shelters. Many web sites offer even more detailed checklists, but most importantly is to make a plan and prepare before the need arises as once the storm is on the way, other things will prevent you from planning. Think about what you can do minimize damage around your home by bringing in and storing loose items that may be outside, pruning branches, disposing of chemicals and boarding up. Stay safe.

3 What every Landlord needs to know: Top Features Tenants are seeking today From 07/14 21 Online Whether you already own an apartment complex or are looking to invest in one, knowing what features potential tenants are seeking in their units and communities can provide valuable insight. For example, if you're planning to renovate and/or reposition your property, with the right information you can actually enhance your marketing efforts, by including the features tenants value most. That's why the National Multifamily Housing Council surveyed nearly 15,000 apartment residents across the country. Here are the top features sought by tenants: In individual apartments: High speed internet access, Patio/balcony, Washer/dryer in unit and, Garbage disposal. At least 88% ranked these as important. In the apartment community: A fitness center, Package delivery room, Community-wide internet access and, Fitness classes. Of course, niche amenities also remain popular with tenants. Landlords are increasingly adding coffee stations, resort-style pools and pet-friendly amenities such as grooming stations or dog parks to their projects. To read more about the NMHC survey, visit For more information on apartment amenities, contact me at my phone or noted above. U.S. Home Flipping Down, but ROI Up, Report Says From 07/14 21 Online According to a report released on May 1, 2014 by RealtyTrac, 3.7 percent of all U.S. single-family home sales during the first quarter of 2014 were "flips" (where a home is purchased and subsequently sold again within six months), down from 4.1 percent in the fourth quarter of 2013 and down from 6.5 percent in the first quarter of Although sales are down, profits are up. The average sales price of flipped homes during the first quarter was $55,574 higher than the average original purchase price. That translates to an unadjusted ROI of 30 percent-up from 28 percent a year earlier. Investors appear to be taking a more conservative approach and being more selective in their purchases to ensure that the numbers will work to their benefit. In addition, the number of flips is down in many markets due to the drop in inventory. Individual investors are also facing competition from institutions, which have not only helped to reduce inventories due to their aggressive purchase strategy but have also pushed home prices higher. Among metro areas with a population of at least 1 million and at least 25 single-family homes flipped in the first quarter, RealtyTrac reports that the highest ROIs were in Pittsburgh (89%), Philadelphia (56%), Memphis (51%), Detroit (48%) and Seattle (48%). To review a video on single-family home flipping by RealtyTrac, visit For more information on home flipping, or to learn about investment opportunities in your local area, contact me at my phone or noted above.

4 U Ulmerton Road $ 1,700,000 This large commercial property of over 1.7 Acres is ideally suited for anyone requiring easy access to the tens of thousands who travel Ulmerton Road every day, the nearby airports, the interstate and the rest of Pinellas County. Ulmerton being the major East-West Corridor of Pinellas County, Tampa to the Beaches and Airports offers unique possibilities. All road work has been completed here and the oversize lot allows for maneuvering, extra parking, easy access and egress to the overhead doors, highways, airports and beyond. U Seminole $925,000 This centrally located commercial strip center offers investors a great opportunity for income and appreciation. Located on a main North-South thoroughfare of Pinellas County and with new leases in place and upgrades forthcoming, a new owner will have steady income and potential for even more. Located on high traffic area with great exposure and opportunity. NDA required and POF required for info and records. U Gulf Blvd. Madeira Beach, FL $600,000 6 Condo Units 6 Boat Slips Waterfront No Rental Restrictions An amazing opportunity to own 6 units of a 9 unit condo complex with 5 boat slips assigned. This property is located across the street from a beach access and directly on a bay to the intra-coastal and the Gulf of Mexico. Unit mix includes a commercial condo, and 5 residential condos, common parking and great rental opportunities. The boat slips can accommodate boast of various sizes and add immediate value for the next owner. These units are rented long term for the convenience of the seller. U S HIGHLAND AVE, CLEARWATER, FL, $192,000 This centrally located commercial property will offer the next owner the chance to be located on a highly trafficked road, with great exposure, more than ample parking as well convenience for all the nearby residents and workers that might use your services or goods. This property offers over 3100 HSF, a layout that provides large rooms, 3 bathrooms, kitchen as well as reception area and offices. A separate building offers increased income potential or even more usage and all at a very affordable price. Being offered "As-Is" for the convenience of the Seller, and easy to show with a call to the LA. Lot size exceeds ½ acre. Call for details. Buyer to confirm usage for their needs and any business or zoning requirements or expectations. comfort of the tenants. U Jones Street, Clearwater, $ 151,000 This well maintained triplex offers you steady income with actual rents exceeding 19,500. In addition it offers a large lot with alley way access for ample parking and yard and green space for your tenants. It is in close proximity to public transportation, PSTA Route 67 and a lovely community park, Plaza Park, at the end of the block. Close to downtown Clearwater s activities, jobs, government buildings and the library, this complex offers Florida charm and ambiance. Consisting of 2 down-stair 1 Bedroom units and 1 up-stair efficiency unit with French Doors opening to the roof decking for potential patio use, this property also has a Laundry Room, separate electric meters and a common water meter. A covered porch in the front and a carport along with two fenced in areas add to the convenience and

5 U Bay Point Blvd., Madeira Beach, FL 425,000 Enjoy the true tropical nature of Florida with your lushly landscaped garden, covered patio with hot tub, and all leading out to your private dock and boat lift. Great views of an open Bay to the Intracoastal and just minutes from the Gulf of Mexico via Johns Pass. This 3 bedroom, 2 bath home offers an open floor plan with large living area all on one floor for convenience and comfort. The kitchen opens to the main living area and this home also features a large indoor utility and greatly oversized garage for toys, tools, and equipment in addition to your vehicle. Pavers out front expand the possibilities but this is truly a property to see if you want the best of Florida living at a most reasonable price. U st Street Seminole $ 299,000 You will love this ideal family home. It is located just minutes from the beach, is situated well above the flood plain, close to great Seminole schools and in a quiet residential neighborhood to meet new friends or entertain old ones in this updated and spacious floor plan. This home offers a formal living and dining room in addition to a family room open to the updated dream kitchen with granite counters, stainless steel appliances, gas stove and more. Elegant crown molding is throughout with hardwood floors leading to travertine in the updated baths providing stylish living and convenience. A walk-in custom closet is in the large Master Bedroom, ample storage throughout plus a large 2 car garage. Outside you have a large screened in porch with weather panels, a large custom pool with child fence, a great well-built Jungle Gym and an extra outside storage building all in a fenced yard for privacy and security. Easy to show. Call LA for details and access. U Shipwatch Dr #346, LARGO $250,000 Your condo overlooking the intra-coastal waterfront is just minutes from the sands and sunsets of the Gulf of Mexico. 56 acres of walking paths, manicured lawns, three pools, a world-class tennis club, a private harbor, fitness center and a restaurant to give you all the advantages of country club living and the beach close at hand. This unit comes with its own deeded boat slip and lift to allow you to completely enjoy all Florida has to offer and all within a 24 hr. gated and secure complex with ample parking for guests and visitors. In addition to the views from your private balcony overlooking the gardens and Intracoastal the master bedroom also offers great views. This large 2 bedroom, 2 bath unit also offers covered parking, and a separate storage unit for toys and tools. U Shipwatch Dr #248, LARGO $189,000 Your 56 Acre gated Shipwatch Yacht and Tennis Club community runs along the Intracoastal, is just minutes from the beach and offers its owners beautifully maintained and landscaped grounds with walking paths, 2 swimming pools, fitness club, world class tennis, a private harbor, club house and restaurant plus a new community of friends and neighbors to share it with. Your individual 1,445 HSF 2 bedroom, 2 bath corner unit offers its own great views across lakes and water to view the Florida's nature, birds and sunshine. This unit offers an open floor plan, tile floors, balconies on two sides and a Master Bedroom with its own views of the water. Washer and Dryer in the unit and all appliances are included. This unit offers under building parking, a storage unit and the building has its own secured entry, lobby and elevator. Truly a must see to begin your Florida lifestyle. Room dimensions are approximate, buyer to verify. U Gulf Blvd, Madeira Beach, Unit 4 -$115,000 U Unit 3- $ 95,000 A 35 Slip with a condo with Unit 4. Come enjoy Florida's finest beaches and waterways at a great price. This condo is directly across the street from the beach, in a waterfront community with great water views from your deck and unit. Updated interior, easy maintenance, and still close to beach access, shopping, dining and entertainment and more. A small community with your own boat slip included. This unit can be rented short term or long term and is a must see. Your next Florida beach Get-Away is now available.

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7 Are you as confused as I am? From Craig Beggins Broker What should be a super motivating time to buy Real Estate doesn t seem to be attracting as much excitement as one would expect. Perhaps the dismay is due to confusion and frustration. Today, let s look at two scenarios that seem to be prevalent in today s local market. Lack of Buyers: While it s certainly true that thousands of damaged home sellers from Short Sales and Foreclosures over the past 7 years were forced to exit the housing market, what many don t realize is that the market has responded and provided more generous lending options which allow these buyers to qualify for a new mortgage as long as they ve maintained good credit in other areas. You can get a free, no obligation loan prequalification at There s also talk in the news of our country becoming a nation of renters vs. homeowners. This just makes no sense to me. For someone who plans on living in the same area for at least 5 years, it simply makes no sense to rent. At the Discount Loans website above there s a rent vs. buy calculator. I ran a comparison for our sales meeting this morning which showed that a renter paying $1,800 a month in rent can buy a $250,000 house. They average $400 a month in savings, and over an 8 year period they end up with enough equity to basically live for free over that time period. This doesn t even take into account the statistics that show that homeowners contribute more to the community, children of homeowners tend to do better in school and of course there s a whole lot to say about the simple fact of pride in ownership. Knowing that this home is yours, you can paint it, own a pet, decorate and landscape as you wish. That s a nice feeling. Complacency: Unfortunately many of us have come to believe that long - term fixed interest rates anywhere near 4% is normal. It s not! Our government is doing everything it can to keep these interest rates artificially low. Savvy buyers know this and are taking advantage of locking in these low rates for 30 years. I don t think there s a better hedge on inflation anywhere. Imagine you buy a home today for $250,000 and lock in a 4% interest rate. You ll be enjoying your home with your fixed monthly payment of $1,193. Five years from now when someone else buys the house next door, they ll most likely have to pay 25% more ($312,500) and will most likely will have a more normal interest rate at, say, 8%. Your new neighbor will be paying $2,293 each month for a very similar house. Assuming you ll be living in a house in 5 years, it makes no sense not to buy now. Please, give the agent who sent you this newsletter a call if you or someone you know, is thinking about taking advantage of this rising real estate market. There s an old saying You can have everything you want in life when you help enough other people get what they want. We d be honored to help you with your Real Estate needs this year and well into the future. We re skilled at helping you make informed decisions. To learn more about what CENTURY 21 Beggins Enterprises offers Buyers, Sellers and Agents, watch our new videos at Until next time, may you have fair weather and following seas! Craig J. Beggins President, CENTURY 21 Beggins Enterprises

8 CENTURY 21 Beggins Enterprises Gulf Blvd. D Madeira Beach, FL or YEAR TO DATE ACTIVITY AS OF 6/30/2014 CRYSTAL ISLANDS & BAY POINT Status Address HSF PRICE $/SF Days On Market Active 847 BAY POINT DR 1,561 $ 425,000 $ Active 575 CRYSTAL DR 1,730 $ 450,000 $ Active 528 CRYSTAL DR 1,656 $ 469,000 $ Active 571 CRYSTAL DR 1,778 $ 519,900 $ Active 580 CRYSTAL DR 2,756 $ 699,000 $ Active 558 JOHNS PASS AVE 5,246 $ 825,000 $ Active 572 JOHNS PASS AVE 3,696 $ 1,196,500 $ Active 532 JOHNS PASS AVE 3,699 $ 1,199,500 $ Status Address HSF PRICE $/SF Days on Market Pending 576 LILLIAN DR 1,409 $ 339,900 $ Pending 568 CRYSTAL DR 1,881 $ 565,000 $ Status Address HSF SOLD PRICE $/SF DATE SOLD Sold 539 JOHNS PASS AVE 2,486 $ 635,000 $ 255 1/31/2014 Sold 538 CRYSTAL DR 2,808 $ 650,000 $ 231 5/9/2014 Sold 520 JOHNS PASS AVE 4,968 $ 989,000 $ 199 1/17/2014 Sold 555 JOHNS PASS AVE 4,408 $ 1,250,000 $ 284 4/28/2014 Sold 497 JOHNS PASS AVE 4,417 $ 1,700,000 $ 407 6/6/2014 Accumulated data represents activity from all Brokers and Agencies from MLS. Michael & Donna Reichenbach CENTURY 21 Beggins Enterprises Commercial & Investment Network Gulf Blvd D1 Madeira Beach, FL CENTURY 21 Beggins Enterprises Donna Reichenbach@topproducer.com MReichenbach@ccim.net This is not a solicitation to list for parties that currently have their property listed.