Waterfront Equity & Investment Property Wizard Pinellas Beaches & Commercial Vol

Transcription

1 Waterfront Equity & Investment Property Wizard Pinellas Beaches & Commercial Vol YOUR FINEST REAL ESTATE EXPERIENCE...GUARANTEED! Donna Reichenbach, GRI, CIPS, TRC, MRP Waterfront Property Specialist Our goal is to provide you up to date information and knowledge: Michael Reichenbach, CCIM, SFR, CIPS, TRC Commercial Broker Associate 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 development, income and real estate 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. We know that the job of a real estate agent is to expose and promote a property to the largest number of possible Buyers and to represent the best interests of our clients. This is largely done in two ways. Our job is to try to be the best in both. If an agent tells you they have a Buyer and can sell your property easily, offer them a one week listing to bring the Buyer if you must, but ask yourself if they have the Buyer now, who will they best represent, you or their Buyer? If they tell you to list at a price that seems high, be sure to get a clause, that says you cancel the listing automatically when they ask you for a price reduction. The first thing is exposure on the internet. Even local Buyers will start there. Many companies will tell you their listings are all on Realtor.com too, so it is all the same. That is not the whole story. Just as with all internet commerce you need to be on all the major sites and yes, corporate sites, mobile and local and luxury to actually get maximum exposure. For example, while Amazon is responsible for 80% of online marketplace sales, only 45% of all internet sales occur on on-line marketplaces. The balance, 55%, of e-commerce occurs at branded marketplaces. (per hostingfacts.com). This means that CENTURY21.com s advantage of being the most viewed corporate site and CENTURY 21 s most trusted name in real estate (JD Powers once again) matters. That is also why our company relationships with Trulia & Zillow matter as well. While all of this is downplayed by smaller and local competitors it will and should matter to Sellers. Being on Realtor.com, etc. only really helps your property when the inquiries from Realtor.com actually go to the agent handling the property. This is only true of premium agents such as ourselves. Then, an agent, if they really know the neighborhood can actually explain the benefits, the area, the schools and the neighbors. Many companies are happy to sell leads, if not secured by a premium agent to people who don t know the neighborhood, the... (continued Page 5)

2 Pinellas Beach Real Estate Statistics February, 2018 Item Detail Residential Properties Madeira Beach 94 Properties Active and 7 Sold in January $401/SF asked in MB for Active Listings and $333/SF accepted for Sold Listings. Residential Properties Treasure Island 134 Properties Active and 31 Sold in January $351/SF asked in TI for Active Listings and $349/SF accepted for Sold Listings Residential Properties in the 3 Redingtons 86 Properties Active and 13 Sold in January $351/SF asked in Redingtons for Active Listings and $331/SF accepted for Sold Listings Residential Properties in St Pete Beach 138 Properties Active and 23 Sold in January $416/SF asked in St Pete Beach for Active Listings and $356/SF accepted for Sold Listings Residential Properties in Indian Shores/Rocks 128 Properties Active and 34 Sold in January $406/SF asked in Indian Shore & Rocks for Active Listings and $389/SF accepted for Sold Listings Residential Properties in Belleair Bch & Shore 44 Properties Active and 4 Sold in January $395/SF asked in Belleair Bch & Shore for Active Listings and $385/SF accepted for Sold Listings Residential Properties in Clearwater Bch/Island Est 328 Properties Active and 38 Sold in January $434/SF asked in Clear. Bch for Active Listings and $357/SF accepted for Sold Listings Residential Properties in Tierra Verde/Isla Del Sol 148 Properties Active and 26 Sold in January $312/SF asked in Tierra Verde for Active Listings and $243/SF accepted for Sold Listings Multi Family Properties Pinellas Barrier Islands 34 Properties Active and 4 Sold in January $470/SF asked for Multi-Family Active Listings and $213/SF accepted for Sold Listings Commercial Properties Pinellas Beaches for sale 32 Properties Active and 2 sold in January $316/SF asked for Listings and 167/SF Sold Listings Statistics per MLS as of 2/15/2018 When is a Jumbo Mortgage Not a Jumbo Mortgage? From 21 OnLine If you're planning to purchase a luxury home and finance it with a jumbo mortgage, we have some good news for you: What used to be a jumbo loan in 2017 may no longer be so jumbo. The conforming loan limits-for mortgages that will be purchased by Fannie Mae or Freddie Mac were raised for In most of the United States now, mortgages of up to $453,100 are eligible for purchase on the secondary market, an increase from $424,100 last year. In more expensive cities, such as New York or San Francisco, the conforming loan limit is now $679,650, up from $636,150. So what does this mean? Well, before the increase, a mortgage of $450,000 would have been considered a jumbo loan in many parts of the nation, and most lenders would have required you to put 20% down. But now, a $450,000 mortgage is conforming and eligible for sale to Fannie or Freddie. The underwriting guidelines for conforming loans are often more lenient than for jumbos, meaning that it's easier to qualify-and more likely you'll get that luxury home you've been eying. For more information, (call us)

3 U New Construction, MADEIRA BEACH $1,250,000 Pre-Construction. To be built. New waterfront custom home near the beach. Built by Lubke Construction, price based on 3,000 Sq Ft 4 bed/3 bath with open floor plan, but we could build up to 6,000 Sq Ft home on this lot. This home will be custom built to meet your needs. Tall ceilings through out, including two story great room. Includes elevator shaft/pre-wiring, custom cabinets and more. Large elevated concrete balcony on front and rear clad with travertine tile so you can enjoy the outside from your main living level. Flood insurance under $500 per year, all masonry construction with piling foundation. 2 year system and 10 year structural warranty included. Boat lift, dock and pool available in your back yard. Model home and design center available for additional plans and lots to choose. U BAY POINT DR, Madeira Beach $525,000 Come see the wonderful open view from one of the few parcels of waterfront lots left on the Barrier Islands. This is a well established neighborhood where all properties are waterfront with the exception of one property that has water access. There is a dock on the property with water. This area is not far from our wonderful white sugar sand beaches, restaurants and easy access to shopping malls, museums, and Tampa Airport. U GULF BLVD, #A, BELLEAIR BEACH $475,000 Your 3 bedroom/3 bath condo along the beaches of Belleair. This large gulfside condo overlooks the pool and is just steps from some of the finest Florida beaches. This 1,525 HSF ground level condo even includes a Guest suite layout with its own private entrance, kitchenette and large bedroom. The large living room, tile floors, private patio and open floor plan to the kitchen make Florida living easy and fun. Your own washer/dryer, skylights and furnishings are all in place and make Florida living a dream come true. This short-term (1- week minimum) rental unit can provide income and each unit has reserved parking. Belleair Beach is close to Clearwater Beach, U Gulf Blvd, #309, Madeira Beach, $400,000 Come enjoy the very best in Florida living. All the advantages of a large, spacious Gulf side short term condo unit and at a much better price. This 2 bedroom-2 bath condo is a corner unit offering more light, a superior location and with proven income. Sandy Shores is located directly across the street from the Village with access to the sandy shores of the Gulf of Mexico and all the entertainment, dining, water sports, fishing and shopping available at world famous Johns Pass Village. This well-run association offers optional in-house management and yet the freedom to rent it for yourself or live full-time as fits your current or future lifestyle or for vacations and family to enjoy. This unit offers an updated kitchen, large living area, a balcony and so much more. The entire condo has been remodeled with all new flooring in all rooms as well as the balcony, all new appliances. T Gulf Blvd 1403, MADEIRA BEACH $272,900 Pre-Construction. To be built. Madeira Bay resort is the ultimate property to own. Located at the northern tip of Johns Pass Village one of the most visited attractions in Florida with shops, restaurants, bars, fishing charters, jet ski rentals, parasail boats etc.. Everything you could imagine for the ideal vacation right at your door step. This resort condo provides the best of all worlds. A place to come and enjoy when you want to and on site rental management for rentals for when you're not here U PALM ST, #2, MADEIRA BEACH $165,000 This delightful and spacious 1 bedroom / 1 bath condo is located just one block from the Gulf of Mexico. This entire complex was updated in 2005, and as you will see is well maintained and offers Owners a solid association with minimal fees and good resources. This unit offers updated granite counters, and an updated bathroom and floor tile throughout. In addition, it comes completely furnished and will invite you to spend even more time at our great beaches, all the while being close to the beach trolley, and all the fun and good times offered by Johns Pass Village so close by and the great sports and entertainment venues so close throughout Tampa Bay.

4 U S MISSOURI AVE, CLEARWATER $2,250,000 Few commercial opportunities will feel good no matter what your use. If you want a great restaurant location and business, none will look as good as this with great exposure, a clean newer building with state of the art equipment, good signage and reputation. If you are analyzing for a change of use, this property offers a well-constructed 5,000 +/- SF building able to be set up for your ideal use, street access on three sides and 250 on the main thoroughfare with a traffic count exceeding 34,000 V/D. Ample parking and an even bigger parking lot strategically situated on this 1.15-acre lot enable even more uses for further development.. U Seminole Blvd, Seminole $1,495,000 This is an excellent investment opportunity with a steady tenant base, good leases in place and potential for increases and appreciation. This highly visible property is located on a main North-South thoroughfare of Pinellas County with a MPO daily traffic count exceeding 36,000/day. This renovated and updated property is U Gulf Blvd., St Pete Beach $825,000 This location is great if you want your business in the heart of the Pinellas, FL s best-known beach community, St Pete Beach. Along with great exposure, good parking and high traffic count, this location along the main thoroughfare is complimented with great signage and access and offers easy access from all parts of St Petersburg and the Tampa Bay area. Available for many uses and possibilities. Floor plan and layout ideal for many uses and easy to change to suit your needs. u Ulmerton Rd Commercial $650,000 Excellent opportunity to purchase an ongoing business and real estate in the heart of Pinellas County. This property offers exceptional exposure with over 50,000 cars per day passing by on one of Pinellas major East-West corridors. This property comes with a billboard lease in hand, excellent signage for the business and even greater potential for either continuing the business or redeveloping to take advantage of the location. Development possibilities are endless with commercial zoning in place. Please do not disturb tenants or business at it is ongoing. U Lots 0310 & st St, Seminole $275,000 & $353,000 Great development parcel located at the west end of Seminole in the Harbor View subdivision. With direct access from 141st Street and adjacent to developed properties this 187 x 172 +/- lot overlooks the wetlands with enough room for the estate home. this property is located at the west end of Seminole in the Harbor View subdivision. With direct access from 141st Street and adjacent to developed properties, this property provides easy access for development. This 1.51 acre +/- lot overlooks the wetlands with enough room and privacy for the estate home of your dreams with development possibilities. u nd Ave S, St Petersburg $300,000 This commercial parcel runs an entire block, corner to corner, along 22nd Avenue S providing excellent exposure, ample parking and a 2,663 SF building available for a variety of uses. TLC needed, but building is ideally located on one corner providing opportunities to expand, redevelop or take use of the expansive grounds and location. Potential uses could include, Retail, Nursery, Office and so much more. Daily traffic count exceeds 20,000 cars/day. Excellent signage and parking. U th Ave S, St Petersburg $300,000 This commercial corner lot is ideally located on Alternate 19 in Palm Harbor. It is at the corner of Alt 19 and Brevard St, the road leading to Wall Springs Park. This lot has many potential commercial and industrial uses including a great location for your business or site to expand or enhance your business. As a 0.32-acre corner lot and 92 feet on Alternate 19, this property offers great exposure, easy access and good signage possibilities as well. The lot is currently fenced and offers 13,875 SF. U Alt 19 & Brevard St, Palm Harbor $250,000 This commercial corner lot is ideally located on Alternate 19 in Palm Harbor. It is at the corner of Alt 19 and Brevard St, the road leading to Wall Springs Park. This lot has many potential commercial and industrial uses including a great location for your business or site to expand or enhance your business. As a 0.32-acre corner lot and 92 feet on Alternate 19, this property offers great exposure, easy access and good signage possibilities as well. The lot is currently fenced and offers 13,875 SF. U BELCHER RD S, LARGO, FL $199,000 Have you always dreamed of being a restaurant/nightclub/bar owner?? Being "THE OWNER"! Here is your opportunity and it won't last too long. This is a thriving establishment and is breaking records with sales month after month and we have not even hit season yet. With full Liquor, full kitchen, entertainment and games... how can you go wrong? This 4,000 SF space with ample parking and a smoking hot lease for renewals for many years to come. The owner is willing to work with the right buyer(s). You must know your stuff. potential. Call for information and potentials.

5 Surprising things your home inspector won't check From 21 OnLine For many looking to buy a home, the home inspection process is the safety net. You may have fallen in love with a house, and mentally already moved in, but nothing is finalized until the inspector gives their report. However, though the home inspection can save you from unpleasant surprises, it doesn't offer a total bill of health. In fact, there are certain aspects of a house that many homebuyers might be surprised to learn are not covered in a standard home inspection. High roofs. Because of liability issues, many home inspectors won't risk getting up on a high, steep roof to check for damage or wear. Blocked outlets. The inspector won't rearrange furniture to get at blocked outlets. Fireplace and chimney. Apart from opening the shutter and shining a light to check for any large obstructions, inspectors will not check for creosote buildup, which could be a fire hazard. Swimming pool. An inspector will look to make sure the heater and pumps are working, but will not look at cracks or the structural integrity of a pool. The ground. If you are wondering how stable the ground under your home is, you'll need to hire a specialized engineer to do an evaluation. It's important to know there are limits to a standard inspection. If you want any of the above areas to be looked at, talk to the inspector, as they may be able to recommend a specialist or do it themselves for an additional fee. (Continued From Page 1 From Mike ) property or the advantages. That is why Donna always meets agents and inquiries and is able to offer the advantages of 14 years of personal knowledge and unmatched local sales numbers that matters to home buyers and sellers and why we spend the money and advertising to get first crack. Secondly, you would think the agent you hire and are going to pay to sell your house represents your interests. In fact the vast majority of agents will not. If they are not specifically Single Agents by Florida law, then they can have no fiduciary responsibility to you. You are never automatically a Single Agent in Florida law. They don t represent you any more than they do the Buyer, even if the Buyer has another agent too. This affects negotiations, your ability to get the best price and exposure. For many people, selling a home is one of the largest financial transactions they will make. Doesn t it make sense to use an agent that will actually represent your interests? The market is changing all the time. Inventory is down on the beaches by 17% from one year ago. Our monthly newsletter showed 1,322 properties on the beach market last year and only 1,100 this year. This year s number is much closer to the activity of 5 years ago when in 2013 we had only 1,016 residential properties on the market. How these trends will continue to develop, how the potential changes in interest rates will affect potential Buyers and prices are items we are happy to talk about even if you are not ready to be on the market. When someone tells you they will do IT for x amount or x % or as well as anyone, let s talk and see if their IT is really the same. Give us a call to see. You know we are always around.

6 How Did the Luxury Market Perform in 2017? From 21 Online If you're planning to buy or sell a luxury home this year, it's helpful to know just how the market is doing. And, like everything else in real estate, that depends on location, location, location. Overall, the luxury market slowed last year. Yet, according to realtor.com, certain markets--such as Hawaii, Colorado and California-were "red hot." The entry-level luxury price, which realtor.com defines as the top 5% of transactions based on sales price-rose by 5.1% in 2017, compared to a 6.9% overall housing-market price gain. Luxury homes took 5.4% longer to sell in 2017 than they did in 2016, spending 116 days on market on average. What's causing the slowdown? In many metros, the number of luxury homes on the market increased, creating more competition among sellers. In fact, the number of million-dollar listings grew nationally by 3.9% between 2016 and According to realtor.com data, the fastest-growing luxury markets for primary homes are Seattle; Marin, Calif. (the San Francisco Bay area); and Brooklyn, New York. For vacation homes, the fastest-growing luxury markets are the Hawaiian islands of Maui and Kauai; the ski towns of Eagle, Colorado and Summit, Utah; and the coastal luxury area of Walton, Florida. In terms of price, the most-expensive primary luxury markets are Manhattan and Brooklyn in New York City; the San Francisco Bay area markets of Marin and San Mateo; and Los Angeles. The most expensive vacation-home luxury markets are Eagle; Maui; and Kauai. A weaker luxury market creates excellent opportunities for buyers. And, while the market may present some challenges for sellers, brokers report that homes that are realistically priced are attracting buyers. That's where the guidance of an experienced luxury broker can be invaluable. For more information, use the contact information Report: E-Commerce Continues to Drive Industrial Demand There's no question that e-commerce has transformed the retail sector. But did you realize that e-commerce is impacting industrial real estate as well? According to the U.S. Department of Commerce, e-commerce sales totaled about $395 billion in 2016, a 15.6 percent increase over the prior year. And, with the increase in sales comes an emphasis on the part of retailers to get products to buyers quicker and more efficiently. That's creating demand for facilities that allow retailers to improve services for "last-mile delivery," or the transport of goods from a distribution hub to the buyer. The closer the hub, the faster goods can get to the consumer. And, with firms like Amazon and Costco promising two-hour delivery in some cities, the pressure is on to find industrial facilities warehouses that are close to residential areas. According to a recent report by Trepp LLC, a provider of information, analytics and technology to the structured finance, commercial real estate and banking markets, demand for industrial space has skyrocketed due to the need by online retailers for warehouses and distribution centers. Here are some takeaways from the report: From 21 Online Supply and demand conditions are favorable, with demand outpacing supply growth over the past few years. Industrial vacancy rates are at historic lows, but construction spending on warehouses has increased since 2014, so that might change with an upswing in supply. Investment volume for industrial properties in the U.S. was $23 billion in the first half of 2017, with industrial investment up more than 20 percent year over year. As more retailers seek to sell online and to deliver faster, the industrial sector will continue to benefit, with increased demand for distribution centers and warehouses. For more information, use the contact information above.

7 Six tips when considering a HELOC for Home Renovations From 21 Online Publication Homeowners looking to undertake home renovations can often use a home equity line of credit or HELOC to finance their projects. Here are six quick tips on how to shop for and manage a HELOC: Shop around. Comparison shop to get the best rate. Ask about the margin. If you're offered a rate that's lower than the competition, it's probably just an introductory rate, so ask about the lender's margin. For example, if the introductory rate is 3.5 percent and your lender's margin is 2 percent, your final interest rate will be 5.5 percent. Consider a conversion clause. Some HELOCs allow you to convert a variable interest rate to a fixed rate, usually during the draw period (5-10 years). Watch out for balloon payments. Balloon payments mean that you must pay the balance in full when the draw period is up. Do not choose this option unless you have the financial means to handle it. Create a family plan. Decide what the money will be used for and who will handle the funds. Keep in mind, you can lose your home if the HELOC is not handled properly. Create a payback plan. Come up with a reasonable plan for how the loan will be paid back. Where the Wealth is: Top Area Codes From 21 Online Publication Personal-finance website GOBankingRates used income data to compile a list of the wealthiest area codes in the nation. Area code 305 (Miami and the Florida Keys) topped the list, with a mean household income of $485,464. Long Island, NY (516) and San Francisco Bay (650) rounded out the top three.

8 CENTURY 21 Beggins Enterprises Donna Michael & Donna Reichenbach CENTURY 21 Beggins Enterprises Commercial & Investment Network Gulf Blvd D1 Madeira Beach, FL This is not a solicitation to list for parties that currently have their property listed.