News About Properties

News about properties and real estate
May 24th, 2015

Bad water holding down property values

Florida Realtors says yes to both in a recent report that says property values were suppressed by nearly $1 billion a year because of poor water quality.

Improved water quality in Lee County would increase property values by an estimated $541 million while Martin County’s property value would increase by an estimated $428 million, the report says.

Overall, property values are rising in both counties, but they’re being “severely dampened” by poor water quality, the report says.

via Bad water holding down property values.

May 24th, 2015

Alternative Retirement Income: Rental Properties – Columnists

For many Americans, especially the Baby Boomer generation, retirement is either here or just on the horizon. The first of the Boomer generation to hit retirement age was in 2011 and according to the National Association of REALTORS®, the population of baby boomers entering retirement is projected to be 10,000 people a day, for at least the next two decades! Mind=Blown! This is the largest mass retirement in our country’s history. With retirement comes the promise of R&R, but you can only relax if you have a way to pay for it reality is a tough pill, ugh!.

Many people are not financially prepared for retirement and thus, the average retirement age keeps creeping up.It may be time to think outside the 401K box. Don’t get me wrong, having 401Ks, stocks, bonds and other traditional investments is great! However, diversity is key in investing and any investment that sends you a check every month while simultaneously growing in value is a huge win in my book.

via Alternative Retirement Income: Rental Properties.

May 11th, 2015

Beware the zombie (houses) still menacing Tampa Bay neighborhoods

Zombie houses.

Abandoned by their owners and stuck in the foreclosure process, they are a blight on neighborhoods rich and poor. Some have been vacant for years, so long that people like Lee Randall can’t even remember the last time they saw the normal signs of life.

Randall lives a few doors away from a zombie house on Nevada Avenue in northeast St. Petersburg. A large, fallen oak limb partially blocks the driveway. Jumbled piles of toys, furniture and dirty dishes can be seen through a grimy side window.

“It’s been like that for years,” Randall said. “They just packed up and hauled a–.”

via Beware the zombie (houses) still menacing Tampa Bay neighborhoods.

May 11th, 2015

A record-setting $8 million for a recent South Park condo sale [San Francisco]

One couple has purchased both brand-new condos for sale at 147 South Park for a combined price of $8 million, according to a report from SocketSite. The 3-bedroom, 3.5-bath second-floor unit sold for $3.05 million, while the top-floor, 3-bedroom, 2.5-bath unit sold for $4.995 million. (The ground floor has storage, a lobby and two parking spaces.)

At a combined 5,300 square feet, that works out to about $1,500 a square foot. According to SocketSite, the previous record for a condo in the neighborhood was a 2,600-square-foot three-bedroom penthouse unit that sold for $3.5 million in 2011 at just over $1,300 a square foot.

The open living-dining room at 147 South Park. (MLS)

SocketSite didn’t reveal who the buyers of 147 South Park are, but gave a “blind item”-style hint as to where they might have come up with the $8 million to seal the deals: “While neither works at Google, Apple, Facebook or Twitter, one half of the couple did co-found a software company which was recently acquired by another which has been around since the 80s.”

via A record-setting $8 million for a recent South Park condo sale.

April 30th, 2015

Luxury condo reservations are brisk in downtown St. Petersburg | Tampa Bay Times

Reservations for One St. Petersburg, a 41-story condo tower planned for the city’s thriving downtown, have “far surpassed expectations,” the project’s sales director said Wednesday. Since marketing began a few months ago, 104 of the 253 luxury units have been reserved, representing total sales of $106 million, according to Dave Traynor of Smith & Associates.

The response shows the robust demand for luxury residences near the downtown waterfront with its plethora of restaurants, museums and shops. Two other proposed downtown condos — the Salvador and Bliss — have also generated presales and plenty of buzz.

Looming 450 feet above First Street at First Avenue N, One St. Petersburg will be the tallest building in the city and among the tallest in the entire Tampa Bay area.

via Luxury condo reservations are brisk in downtown St. Petersburg .

April 30th, 2015

4 Places to Own a Retirement Home and Rent it Out

A retirement home overseas can be much more affordable if you rent it out when you’re not using it. If you don’t plan to be in residence for the entire year, being able to rent your house or apartment to holiday-goers can help cover the costs of owning and maintaining the property. It could even provide cash flow to supplement your retirement nest egg.But finding renters can be a challenge in seasonal retirement spots. In a locale where some times of the year are much more appealing than others, you’ll want to take advantage of the nicest seasons, but those are also the times when you would have the easiest time finding renters.

In places where local services, amenities and shops shut down for part of each year, this can be an even greater conflict. You’ll be tempted to take off traveling, perhaps for a return trip home to visit with your family during the off-season weeks or months, but these are the months when you’ll have the toughest time renting out your property.

via 4 Places to Own a Retirement Home and Rent it Out.

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