The Anna Maria Island Sun Newspaper


Vol. 17 No. 24 - March 29, 2017

REAL ESTATE

Winter house guests – are we done yet?

 

Do you yearn for the days when the only person in your kitchen is you? Do you lust after laundry baskets that are devoid of your best towels and does walking around in a torn T-shirt and not much else becomes your greatest dream? Then get ready because the end of winter house guest season is just around the corner.

On Anna Maria, the number of bedrooms in single family homes have become not only a big selling point but also a big debate. Since there are so many investor properties that are turned into rentals, bedrooms are a key selling point, but in other parts of the country homeowners are starting to take somewhat of a dim view of buying luxury homes with a lot of extra bedrooms.

It’s not unusual for homeowners to get fed up with walking past unused bedrooms at the expense of usable space and feeling obligated to host multiple house guests just because they have the space. The answer is to convert some of the dusty underused bedrooms into home offices, hobby rooms, music rooms, artist studios and an entire range of uses that will make you happy if not your Aunt Mary.

The National Association of Home Builders said in 2016 that 97 percent of all new homes for sale that were asking $1 million or more had at least four bedrooms per their review of the census data. True homes with fewer bedroom will always be subject to a smaller pool of buyers when it’s time to sell. Some of this negativity can be offset by creating a larger entertaining space, or by making a simple conversion for your personal use that can be quickly repurposed as a bedroom. In fact, according to realtor.com, higher end homes with more living space and fewer bedrooms sell for higher prices, although they took longer to sell since they are drawing from a specialized group of buyers.

That said, if you own a home on Anna Maria, and even of you have no intention of using it for a future rental property, eliminating bedrooms could be a big negative to a potential buyer who may want to use it for that very purpose. Home renovations should always be done with an eye toward a future sale and are always tough decisions to make.

One easy decision to make, however, is buying property in Manatee County. The end of year sales statistics per the Realtor Association of Sarasota and Manatee points to the average sale price for single family homes increasing 6 percent over last year to an average of $341,281. The median sale price, half above and half below, increased 5.8 percent to a median of $275,146. Active listings were up 12.5 percent, resulting in an increase of 13.9 percent in the month’s supply of inventory to 4.1 months, still well below the accepted norm of 6 months.

Average condo sales were also up 7.7 percent to $222,003 with the median at 6.3 percent to $170,000. Active listings were way up by 17.2 percent, and month’s supply was up 10 percent to 4.4 months, again below normal. Basically, 2016 was a good year county-wide, and a quick look at the January numbers, which I’ll report on a little later, shows that the trend is continuing.

Some years ago, my husband and I considered buying a one bedroom house. In the end, we didn’t, but it was one of those special places that I still think about. Finding the right balance between lifestyle and resale value can create a lot of stress, but if you throw in the torn T-shirt factor, it might make it easier.

Real Estate Transactions
Real estate transfers of January-February 2017
•Sponsored by Alan Galletto, Island Real Estate
Source: Mid Florida Multiple Listing Service

Sold Date | List Price | Sold Price | Address | Provision | Property Style

Anna Maria

2017-01-06 699,000 630,000 115 Pelican Dr. 1930 2 Br/2 Ba SFR
2017-01-18 949,000 825,000 224 Oak Ave 1860 3 Br/3 Ba SFR
2017-01-13 1,849,000 1,650,000 517 Blue Heron Dr. 3067 4 Br/3.5 Ba SFR
2017-02-17 699,000 699,000 801 Fern St #A 1536 3 Br/2 Ba SFR
2017-02-14 799,000 799,000 607 Jacaranda Rd 1059 3 Br/2 Ba SFR
2017-02-21 325,000 307,500 522 Pine Ave #4b 822 2 Br/1 Ba Condo
2017-02-07 649,000 610,000 214 Elm Ave 70x110 VAC
2017-02-07 929,000 929,000 107 Park Ave 50x106 VAC

Bradenton Beach

2017-01-13 239,000 225,000 1603 Gulf Dr. N #11 540 1 Br/1 Ba Condo
2017-01-06 324,900 324,900 117 7th St N #40 864 2 Br/1.5 Ba Condo
2017-01-26 425,000 410,000 1000 Gulf Dr. N #6 450 1 Br/1 Ba Condo
2017-01-13 469,000 427,000 501 Gulf Dr. N #202 1000 2 Br/2 Ba Condo
2017-01-13 519,000 492,000 2401 Avenue B Unit B 1410 2 Br/2 Ba Condo
2017-02-16 1,450,000 1,250,000 1110 Gulf Dr. N 1272 2 Br/2 Ba SFR
2017-02-06 199,900 190,000 611 Gulf Dr. N #D23 794 2 Br/1 Ba Condo
2017-02-17 460,000 448,500 246 17th St #23BB 1268 2 Br/2 Ba Condo
2017-02-23 719,000 655,000 300 Gulf Dr. S #B 1224 3 Br/2 Ba Condo
2017-02-27 259,000 253,500 1801 Gulf Dr. N #271 691 1 Br./1 Ba C-H
2017-02-28 329,000 329,000 2601 Gulf Dr. N #S31 1200 2 Br/2 Ba Co-op

Cortez

2017-02-17 375,000 325,000 4304 123rd St W 2156 4 Br/2 Ba SFR
2017-02-27 465,000 445,000 3825 Mariner Wk 623 1942 2 Br/2 Ba Condo

Holmes Beach

2017-01-17 390,500 356,000 203 28th St 1320 2 Br/2 Ba SFR
2017-01-11 598,000 580,000 203 67th St #A And B 1620 4 Br/3 Ba SFR
2017-01-26 739,900 675,000 526 72nd St 1388 2 Br/2 Ba SFR
2017-01-06 795,000 745,000 313 58th St #A 1474 4 Br/3 Ba SFR
2017-01-03 1,759,000 1,700,000 2905 Avenue E 2420 50x100 4 Br/3.5 Ba SFR
2017-01-18 399,000 330,000 6300 Flotilla Dr. #77 1436 3 Br/3 Ba Condo
2017-01-23 359,000 334,000 5400 Gulf Dr. #16 838 1 Br/1 Ba Condo
2017-01-03 369,900 352,000 3100 Gulf Dr. #4 832 2 Br/2 Ba Condo
2017-01-09 385,000 380,000 6400 Flotilla Dr. #54 1185 2 Br/2 Ba Condo
2017-01-03 478,000 468,000 6313 Gulf Dr. 1206 3 Br/2 Ba Townhome
2017-01-19 699,000 660,000 7306 Holmes Blvd 2833 1Duplex
2017-02-16 199,000 192,000 45 62nd St #B 588 1 Br/1 Ba SFR
2017-02-28 610,000 600,000 512 74th St 670 110x98 3 Br/2 Ba SFR
2017-02-23 669,000 650,000 211 81st St 1575 2 Br/2 Ba SFR
2017-02-28 889,000 849,000 412 73rd St 1874 3 Br/2 Ba SFR
2017-02-22 879,000 860,000 217 71st St 1586 53x105 3 Br/2 Ba SFR
2017-02-24 1,080,000 1,000,000 304 61st St #B 1550 3 Br/3.5 Ba SFR
2017-02-15 279,900 280,000 3601 E Bay Dr. #104 1035 2 Br/2 Ba Condo
2017-02-28 329,000 295,000 5808 Gulf Dr. #205 780 1 Br/1.5 Ba Condo
2017-02-28 339,900 342,500 6500 Flotilla Dr. #202 1066 2 Br/2 Ba Condo
2017-02-08 399,900 375,000 7100 Gulf Dr. #218 1081 2 Br/2 Ba Condo
2017-02-25 425,000 400,000 6200 Flotilla Dr. #261 1426 2 Br/2 Ba Condo
2017-02-28 425,000 420,000 6400 Flotilla Dr. #73 1458 2 Br/2 Ba Condo
2017-02-07 483,900 468,000 6305 Gulf Dr. 1206 3 Br/2 Ba Townhome
2017-02-28 224,900 210,000 421 62nd St 688 1 Br/1 Ba Villa
2017-02-22 789,000 720,000 306 72nd St 2616 76x100 Duplex
2017-02-23 355,000 328,500 4909 Gulf Dr. #2a 868 2 Br/2 Ba Half Duplex

 


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