High end villas at bargain prices
SUN PHOTO/LOUISE BOLGER
The Villas at Holmes Beach offer seclusion
and Tampa Bay frontage.
If you've ever wondered what's going on behind the gates that are tucked away between the water and the curve on Gulf Drive in Holmes Beach at 52nd Street, I can tell you there is both a lot and a little.
There's a lot because the Villas of Holmes Beach Condominiums are beautiful town home villas built in a Tuscan style which sit at the edge of Tampa Bay, some with spectacular views to the Skyway Bridge. There's a little because the complex which was completed in 2006 has fallen victim of the real estate and financial crises.
The boutique condominium complex was designed as a small upscale gated community, the only one on Anna Maria, with deeded boat docks, many with boat lifts. There is a heated community pool, elevators and two-car garages. The units themselves are between 2,600 and 3,100 square feet with upscale finishes, crown molding, hurricane glass, three or four bedrooms, three baths and several balconies, truly an exclusive enclave.
The original sales prices in the summer of 2006 ranged from $2,300,000 to $1,750,000, and based on the Manatee County records it appears that three units may still be owned by the developer.
Unfortunately, as of this writing, there are four units on the market with listing prices ranging from $599,000 to $1,295,000, two of the units being advertised as short sales.
As sad as it is to see this happen and to have original buyers and their lenders losing so much money, this can be a fabulous buying opportunity for the right buyer. High end properties sold at the top of the real estate market have taken the biggest fall, but good waterfront especially with boat docks are still valuable and will be even more so in the future.
Most of the real estate community agrees that Anna Maria Island real estate is at or near the bottom. Buying distressed properties can be a once in a lifetime occasion to be approached with a lot of caution. Realtor.com will give you more information on the Villas of Holmes Beach.
Oh how the mighty have fallen; maybe, maybe not. We'll all be mighty again, and that day is just around the corner.