Vol 6 No. 22 - February 22, 2006

Perico Bay Club: waterfront living for less
By Louise Bolger

Perico in Spanish is a designation for a small kind of parrot. It is also the name of a Texas town established in 1888 which, after living through a boom, became a ghost town by the mid 1980s. No chance that Bradenton’s Perico will be a ghost town any time soon. The real estate boom of the past five years has left its mark on Perico Bay Club making the original owners wealthier than they ever thought they would be.

As discussed last week, Perico Bay Club is a nice alternative to living on Anna Maria Island, close to the beach, lots of water views and lots of amenities. This week we’ll talk about what it costs to live in the Bay Club, and it turns out quite a bit less than anything comparable on the island.

There were 18 closings during the last six months of 2005 averaging about $350,000. The range of sales went from a low of $280,000 to a high of $520,000.

The condo units that are on Perico Point Circle and Edgewater Circle sell at the high end. They have the best water views and the most square-footage - in the larger units about 1,850 excluding the lanais. They also have either a one-car garage or carport assigned to the unit. One is currently on the market for $575,000.

The smaller condos like the ones on Audubon and Estuary have some bay and lake views with square footage starting about 1,250. One is listed on Audubon for $365,000 and another on Estuary for $426,000.

In between are the villas, with either one- or two-car garages ranging from the high $300,000s to the high $400,000s, mostly with lake views.

Many of the units at Perico Bay Club are sold turnkey furnished, and since some were built almost 20 years ago, those that have been updated are priced higher. Monthly maintenance fees differ based on the association but range between $250 and $450.

Like many other areas of the country and Manatee County, Perico Bay Club is feeling the pinch of a slightly flattened real estate market. Earlier in the month there were 25 units available for sale, a higher than normal number, and one that can change on a daily basis. Sunday open houses are very popular at Perico and may be the only chance you’ll have to get through the gates and check out properties.

More affordable than the Island but with great Island access, this little parrot is a gem that should not be overlooked by buyers who want a casual Florida lifestyle with a manicured look.

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