Homes Sold in the bay area
$625,000
203 Locust Drive 5 bedrooms, 4 baths Brandon in Dogwood Hills: Built on a cul-de-sac in 1989, this custom executive home sold at its listing price in June. The 4,830-square-foot house features floor-to-ceiling windows, hardwood floors, formal living room, family room with wood-burning fireplace, chef’s kitchen with gas cooktop, double ovens, and eating area with wooded views, remodeled master suite, third-floor media/bonus room, oversized lanai with pool and 1⁄2-acre landscaped lot backing to woodland and spring-fed pond. Signature Realty Associates, Brenda Wade Team
Boats docked at the Waterline Marina Resort & Beach Club on Anna Maria Island have quick access to the Gulf and Sarasota Bay.
Anna Maria, Longboat Key Buyers pony up for the ‘island life’
$155,000
6156 Spyglass Court 2 bedrooms, 2 baths Spring Hill in Timber Pines: Built in 1982, this well-maintained home has a doubledoor entry, great room plus additional family room, kitchen with tile counters and backsplash, pantry closet, ceiling fan and adjoining breakfast nook, enclosed Florida room with heat and air, stenciled/painted driveway, community pool, golf and tennis courts and clubhouse. Listed at $159,000, the 1,674-square-foot home sold in May. Keller Williams Realty Elite Partners, Dougherty/Denis Team BY NICK STUBBS Times Correspondent
$745,000
11000 Fourth St. E 2 bedrooms, 2 baths Treasure Island on Isle of Palms: This elevated waterfront home, built on a cul-desac in 1989, has vaulted wood-beam ceilings in the open-concept living/dining rooms and kitchen, wood-burning fireplace, large wraparound porch, huge deck leading to 111 feet of waterfront, newly painted dock, large yard with plenty of room for a pool and oversized two-car garage with storage. Listed at $749,000, the 1,926-square-foot house sold in May. Century 21 Jim White & Associates Inc., Helle Hartley
It’s what Island living is all about: kicking back, enjoying the sun, water and breezes. The barrier islands of Anna Maria Island and Longboat Key offer just that for thousands of homeowners and renting vacationers, and market watchers say there is no slowing of interest among buyers, despite rising prices. Al Galletto, sales manager for Island Real Estate, focuses his business on Anna Maria. About 25 percent of residency there is full time; the rest is composed of second and third homes used as vacation getaways for owners, who often rent them out the rest of the year. The buyers have the means. It’s why the island sales are booming despite higher interest rates, higher home prices and low inventory, he said. “Half the sales are cash,” Galletto said. As for the inventory, “it’s as low as it’s been, but the sales are as high as they’ve been.” In addition to those clamoring for a vacation home on an island, buyers are taking stock in the investment value. Since the housing crash a decade ago, values have been appreciating 6 to 7 percent a year, said
Galletto. Most of that appreciation is in the land, he said, estimating that in most cases, 75 percent of the value in a single-family home purchase is in the land. In the case of a new home, the number is perhaps 60 percent. Newer single-family homes on Anna Maria start around $850,000, Galletto said. A fixer-upper can be bought for $500,000 to $600,000. The lowest entry into something on the island would be a one-bed, one-bath condo at about $250,000. There are not a lot of vacant lots on Anna Maria, but expect to pay around $1.2 million for something on the water, around $900,000 just inland and about $300,000 for something in the middle of the island, said Galletto. Jen Bowman, who along with her husband, Mark, operates Keller Williams on the Water in Holmes Beach, says it’s a sellers market on the islands. She’s had sales from buyers who only viewed the home remotely via internet video. About 50 percent of buyers are purchasing a second or third house, she said. Bowman said single-family homes she’s listing start at around $700,000 and run up to $3 million on the Gulf beach. Condos start around $288,000. “Prices continue to go up and will for at least a few years,” said Bowman, who describes living on Anna Maria and Longboat Key as a “slowed-down existence.” “All the basic needs are here: groceries and everyday things,” she said. “But you have the island lifestyle that you don’t get in a city— even a small city.”
$230,000
4820 Rue De Bayonne, No. 407 2 bedrooms, 2 baths Clearwater in Feather Sound: Built in 1982, this Chateau Bayonne condo has an updated kitchen with stainless appliances and granite counters, hardwood floors in living and dining rooms, den, updated master and guest baths, frameless glass shower door in guest bath, large lanai, under-building parking space, clubhouse with kitchen, heated pool, sauna, fitness area and pool room. The 1,600-square-foot home was listed at $240,000 and sold in May. Re/Max Metro, the Gregs TO SUBMIT YOUR SALE for consideration in this column, please send us a photo of the home plus the address, sale price, listed price, month sold, TH91425 number of bedrooms and baths, and short description. Submissions may be emailed to bmoch@tampabay.com (put HOUSE VALUES in the subject line) or mailed to: Tampa Bay Times/House Values, Attn: Barbara Moch/ Newsroom Services, P.O. Box 1121, St. Petersburg, FL 33731
You know you are in the vacation zone when the railings of homes are adorned with the day’s drying beach towels. This colorful scene is on Anna Maria Island, but is typical up and down the barrier islands from Bradenton Beach to Longboat Key.
This island home on Anna Maria is flanked by tall palms. It features a rock yard, which makes maintenance less of a worry for absentee owners. Many of the homes on Anna Maria Island are rented to tourists during the winter and summer seasons.
A typical weekend day on the islands would be rising late, maybe hitting one of the beaches or browsing specialty shops. Lunch and dinner? Hurricane Hanks or the Rod and Reel Pier come to mind, she said, as both are longtime island favorites. While adjoining, Anna Maria and Longboat Key have distinct differences in character, said Gunner Davis, a partner at Century 21 Beggins Enterprises. Longboat is more for residents and less for tourists, he said. Anna Maria is tourist oriented and buzzing with activity in all seasons. Off season, many of the homes on Longboat Key are vacant, which is the opposite on Anna Maria, he said. Davis said available inventory on the islands is around seven months, which he considers not bad at all. It is, however, a “little bit of a seller’s market,” so buyers should expect to pay up a little, at least for now. Davis said Longboat currently is in a bit of a “revitalization phase.” Driving around, it’s not hard to find many new homes going up in builtout communities after the older home on a lot has been demolished. Many of those older homes were built at ground level and date to the
1950s. Because they are not elevated above current flood elevations, their owners pay premium flood insurance rates. “They (buyers) are raising homes to lower insurance rates,” Davis said. Most of his buyers are people looking to get a piece of what he calls “some of the most beautiful water in the state.” “The water here is amazing; it’s not the darker water you see to the north where there is more river runoff,” said Davis. “It’s why people are buying here from all over the world.” Purchasing on the barrier islands isn’t cheap, but for those with the means it can be a good investment, said Davis; despite rising costs, the picture for buyers has to be considered with some perspective. “Prices are really just back to where they were in 2005,” he sadi. “We’re just about fully recovered (from the housing crash a decade ago),” he said. Davis added that while interest rates are creeping up, they still are at “historically low levels.” He also notes that there are plenty of available vacant lots on Longboat Key for those who want to carve out a piece of paradise for the future.