Real Estate Views from St Pete

Amazon has reduced the price of its Kindle, the electronic book reader, from $399 to $359. I don't know why they reduced it, since I think it's the best thing since sliced bread, but they have.

I bought it in December and have saved more than its price on the reduced price of books. I carry my Kindle with me everywhere and read it mornings on the treadmill, too.

For traveling, it's a way to combat the price of checking luggage. It's a way of drastically reducing the weight that you lug around.

Worried that it won't be "like a book"? So was I. I wouldn't want to read books on a computer, but after the first page or so, I'd really rather read on the Kindle than in a book.

St Petersburg/Clearwater/Tampa has an increasing number of high net worth households, according to the Tampa Bay Business Journal. They quote numbers from a study by IXI Corporation, which has defined high net worth households as having a net worth of at least $3 Million. (There are lots of definitions of high net worth, so it pays to look into how a study defines it). From 2006 to 2007 the number increased by nearly 30% and their assets increased by nearly 24%. Not unexpectedly, most of these have made their own wealth, rather than inherited it. That must partly account for the new record sales of home prices.

The St Petersburg area is also seeing more billionaire yacht coming here, and those figures of course aren't included in the households here.

St Petersburg is fortunate to have the Poynter Institute, a unique place that attracts journalists from all over the world for its seminars and conferences. Its goal is to serve journalists and media leaders, as well as future journalists -  to explore ethics and excellence. What should be discussed? How? What about photographs? What's the role of videos in news reporting. Let's talk about the McClellan story, or race relations, or slanting stories. Courses, seminars, online studies. Poynter is a unique institution, right across from the Salvador Dali Museum, and just a few blocks from the heart of downtown St. Petersburg. It's yet one more thing that makes St. Petersburg such an attractive place to live, with a tremendous variety of things to do.

Yes, that's a SOUL sign in the window at 400 Beach, not a SOLD sign. It in the window of the space at the southeast corner of the retail portion, and must portend the coming of a Chapman/Hamilton restaurant at the corner of 4th Avenue Northeast and Beach Drive Northeast.

Craig "Chappy" Chapman opened Grillside Central this month in the 400 block of Central Avenue; he'll be opening Chappy's Creole Soul in the 200 block of Central Avenue, perhaps by mid-summer, and then the last of the trio, this one in partnership with the Hamilton family who owns the retail space, will open at 400 Beach.

This weekend I received an e-mail correcting a fact on one of the downtown St Petersburg condominiums. I had said the units had 8 ft ceilings, and the writer actually measured - the main rooms are all just a tad under 9 feet. I have already corrected the post and checked not only this site but my other blogs, just to be sure the information was not inaccurate on any of them.

I really appreciate that she took the time to write and give me the accurate information. If you find any inaccuracies in any of my posts, please bring that to my attention, as I do not want to mislead anyone reading any of my posts.

This is Al Lang Field in downtown St Petersburg, Florida. It has been used for Spring Training for many years, but now that's over.

The Tampa Bay Rays baseball team wants to leave Tropicana Field and build a new stadium here on the waterfront, on the expanded site of Al Lang Field.

Al Lang Field, like all of the downtown parks in St Petersburg, Florida, comes with a restriction. The City of St Petersburg cannot sell or even long-term lease any of this "parkland" with out a referendum approved by a majority of the voters in St Pete.

Opinions are rampant, tempers are rising, and even before the St Petersburg City Council has decided whether to put this on the ballot, signs are popping up in yards all around the city. The majority that I've seen are opposing the new stadium.

Several issues are under consideration: is this what we want on the waterfront? is this the time to be committing city money (our taxes) for a privately owned baseball team's profit? Where will the people park and how will that affect downtown businesses and nearby neighborhoods? How will the new stadium block existing buildings and dominate the downtown skyline? The other side is pointing out economic benefits and potential tax revenue from the redevelopment of Tropicana Field and the money that will be spent by people coming to the games. and they also stress that the decision should be given to the voters, not decided (in the negative) by the City Council.

From signs in the yard to coffee conversation, the NEW waterfront stadium is certainly an important topic in St. Petersburg, Florida.

This afternoon Rob and I met with a client who had purchased a new home through us in June 2005 - the height of our frenzied market. He's relocating out of state and wanted to know his options. We know he's making decisions based on our information, which is why we always Tell It Like It Is.

Option one: it will sell for 82% of what you purchased it for - which means a loss on 18% plus 7.5 % in closing costs, or a total loss of 25%.

Option two: rent it for 53% of your monthly carrying cost, and that doesn't take into account the number of months it will be vacant looking for a tenant, any potential damages, or how long a tenant might stay in the house after stopping rent payments.

Not a pretty picture - but morally and ethically, we need to tell it like it is. How else can we expect clients to be able to make valid decisions on what to do, on how to react to opportunities/offers available to them.

The skyline of St Petersburg, Florida is changing week by week and even day by day. It's interesting to catch sight of new buildings from different angles.

Here, from 2nd Ave N, overlooking the Bay Plaza Building and the Parking Garage, we see Signature Place, the newest condominium building, which has already topped off. Glass, covered with blue film, has been installed nearly to the top.

Completion is scheduled for Spring 2009 and yes, there are still some condominium units available.

For information, contact The Simms Team at RE/MAX Metro in St Petersburg, Florida.

This waterfront home in St. Petersburg was built in the early 70s, and though it has been updated and has a pool, it's not what today's buyer wants.

This house does have a unique lot, though, and is located at the tip of a peninsula, so that the seawall wraps around the house and the site has a wide view down the canal.

For a chronicle of the purchase, tear down, and building of the new home, click here.

Dr. Beach has just released his 2008 choices for the top 10 beaches in the US, and #1 is:

     Caladesi Island, Florida

which is in Pinellas County, Florida, just north of Clearwater. It's been #2 for a few years, so has made the cut.

Pinellas County is fortunate to have a second beach which was #1 of the top ten: Ft. DeSoto Park was #1 in 2005. In 2008 it was named America's Top Beach by TripAdvisor, which pointed out a "spectacular combination of soft white sand, calm, clear water and a laid-back atmosphere".

Pinellas County has over 35 miles of fine white sandy beaches.

We have 361 average days of sunshine;

75 degree average water temperature (from 62 in January to 86 in July and August - Check current water temperatures for St Petersburg and you'll see recently it's 84.9 degrees) and

73 degree average temperature.

Come to Paradise! and for real estate here in Paradise, contact The Simms Team at RE/MAX Metro.

"Government home price index posts largest drop in 17-year history" was a headline on today's Yahoo Finance, an article from AP. Thank you, press, once again, for contributing to our current real estate Fear Bubble.

Florida is notorious as one of the hardest hit areas of the country. Well, despite the current headlines (which, of course, are averages), let me tell you that things are getting better in Florida, or at least they're better in the Tampa Bay area, of which St. Petersburg is a part. Agents and companies I talk to are saying things like:

• Our company board is now showing twice as many sales as new listings;
• I'm so busy with buyers these days - I wish I could have a weekend day off;
• Showings are at record highs
  • (One call center today for a local company with multiple offices told me that for a 2 day period last week, Friday and Saturday, they set 670 showing appointments!)
• We have multiple offers on that property;
• Four parties have scheduled repeat showings on this home.

That's good news. No, that's great news! Florida was one of the earliest to experience the decline, so perhaps it's one of the first to experience the rejuvenation.

You won't know it's the bottom until it's turned around and is no longer the bottom. All I can say is, here in St. Petersburg, the signs are out there that it's turned around.

The NAR Resort Symposium, offered every 18 months, has annnounced its time and location for the 2009 symposium: it's in Naples, Florida, on March 29-31, 2009 at the Naples Grande Beach Resort.

The symposium begins with a cocktail reception on Sunday, March 29, 2009 and ends with an evening reception on Tuesday, March 31, 2009. In between are various educational and networking sessions.

The last conferences were in Vail (2008) and the Big Island, Hawaii (2007).

The Closters is a recent condominium project in downtown St Petersburg, Florida. With less than 50 units there's a small town comraderie.

Just 3 units per floor, each unit has a waterfront view.

There is currently just one of these condominium residences on the market, a 2,065 sq sf ft unit being offered at $695,000 and there is one unit currently under contract, listed at $779,000 with 2,694 sq ft . One unit has sold this year at $600,000 for 2,600 sq ft.

On the ground floor of The Cloisters is Market Express, a combination coffee shop and small grocery store, with inside and outside tables for eating.. There is also a jewelry store.

Across the street is Straub Park, which hosts various art shows, food festivals, and music venues.

Beyond the park is the Vinoy Basin and Vinoy Marina, which lead out to Tampa Bay.

Just across the street is Parkshore Grille, a great location for lunch with salmon or dinner inside or out.

The disadvantage to this building is small balconies, and also just a lap pool.

Parkshore Plaza - luxury condominium in downtown St Petersburg, Florida

This condo was completed in 2006 and overlooks Tampa Bay across Straub Park and the Vinoy Basin and marina.

There are currently 11 condominium residences for sale, ranging from $729,500 for an 1,825 sq ft unit on the second floor to $2,799,000 for a 4,326 sq ft townhouse.

One condominium is currently under contract, which was listed at $1,220,000.

So far this year, 2008, there has been one sale, for $1,180,000 for a 3,000 sq ft unit in Tower One.

All of the residences have a waterfront view, many of them with  view of the skyline of downtown St Petersburg as well as out into Tampa Bay.

Vinoy Place luxury condominiums,

St Petersburg, Florida

The four towers of Vinoy Place, adjacent to the Renaissance Vinoy Hotel in downtown St Petersburg, and surrounding townhomes, are within walking distance of all the amenities of downtown St Petersburg, Florida, and all have water views of Tampa Bay and the Vinoy Basin. Owners may join the Vinoy Club.

There are 11 active listings at Vinoy Place, ranging fro $729,500 for a small 1,825 sq ft unit, to $2,799,000 for a 4,326 sq ft townhome.

There is one pending sale for a condo listed at $1,220,000.

So far this year there has been one sale, on the 6th floor, with 3,000 sq ft, that sold at $1,180,000.

There are currently 4 condominium units offered for annual rentals: from $3,500/month for a 1,959 sq ft unit on the second floor to $5,200/month for a 3,373 sq ft unit on the third floor. These are annual rentals, unfurnished.

400 Beach - luxury condominium in downtown St Petersburg, Florida

400 Beach is the newest condo in downtown St Pete, and every condo in the tower has a water view!

So far this year 23 condos have sold here over $1 Million - ranging from $1,010,000 to $2,558,000.

There are currently 22 condos listed in the Multiple Listing System, ranging from $749,-000 for a 2,355 sq ft condo on the second floor to $5,500,000 for a 7,000 sq ft Penthouse unit on the 29th floor.

There are currently 4 condos offered for rent, ranging from $3,500/month for a 2,450 sq ft unit on the southwest corner to $4,500/month for a 3,288 sq ft unit on the northeast corner.

Two retail shops have opened on the ground level, and there are several vacant spaces yet to open.

This is the second downtown condo built by Opus, opening a year later than Parkshore Plaza, one block to the south on Beach Drive.

It's interesting to see what a difference the angle of the building makes in the view, and the fact that it's further east than Parkshore Plaza - from the 04 units (comparable to the 03 units in Parkshore) that you can see from downtown Tampa to the Skyway Bridge. Beautiful views!

Not only great views fro here but a great location - less than a block from the Renaissance Vinoy Hotel (and yes, you can join the Vinoy Club) and just a block from Parkshore Grille, the Italian gelatto shop, the tea shop, and lots of other inviting places.

Have I told you lately that I love my Kindle? Probably not in the last week or so. My Christmas Kindle goes with me everywhere. I told you why.

Yet another trip - and several of pounds of books replaced by my 10 oz Kindle with dozens of books. I actually weighed my luggage with pounds to spare.

After showing this to James Nellis in DC, he has ordered one. He e-mailed me to ask if he should buy any accessories, such as a light.

Well, I didn't buy any accessories. Yes, you need a light to read it (it's not a computer screen, fortunately) but I usually have access to light, just as I would for a book.  Other than that, no need for another cover, a spare battery or a charger. What comes in the $399 package is all you need.

So - order and enjoy.

At the trade show at NAR Mid-Year meetings in Washington, DC, this week, we saw the new Dell tablet. I liked that they have both the "eraser" tip and the touch pad to move around with. In case you don't know, I type far faster than I write, so the keyboard is iumportant to me in touch, size, and control.

The Lenovo tablet didn't have the touch pad. I can remember how much I hated that when I first used it - I'd always plug in a mouse and use that. Now I don't bother with a mouse as I'm so familiar with the touch pad.

It's sometimes hard for us to get out of our comfort zone and try something new.

What makes trolleys so much fun? Why is it "ok" to take a trolley ride, but not so ok to take a bus ride?

Is it because trolleys are associated with vacations, and taking trolley tours around a city?

Is it because trolleys relate to leisure time instead of necessity time?

Or maybe it's because the windows are up and you can feel the outside.

The photo is of the Looper Trolley in downtown St. Petersburg - you can ride it between hotels and attractions, museums and art galleries. You can even ride one to the beach - the white sand Gulf beach at St Pete Beach - oh, yes, and you can then take another trolley all the way from St Pete Beach up to Clearwater Beach.

Tami and I were just in Washington, DC, and the map of the city showed three trolley routes that you could ride all day, and even connect with a Duck Tour of DC.  If we'd had a whole day to explore, we would have taken the trolley.

Broadwater is a mostly waterfront community in southwest St. Petersburg Florida on Boca Ciega Bay.

Yesterday the home at 4380 44th St S sold at $500,000. It's a 3 bedroom 2 bath 2 car garage with 1,884 sq ft, a heated screened pool, dock with lift and davits. Home has some updating in the last few years, including roof, A/C and hurricane shutters. It was listed for 513 days with various agents, starting at $729,000 and listed most recently at $529,000.

Today the home at 3874 48th Ave S sold at $680,000. It's a 3 bedroom 2 bath 2 car garage with 2,700 sq ft, including a 1,000 sq ft great room that was added on the back with vaulted ceilings and a fireplace. There is a pool and dock. Floors are wood or ceramic tile, many windows replaced. Still needed more updating in kitchen and master bath. Nicely decorated in Tuscan style. It was listed for 197 days at $729,000.

The other three Broadwater waterfront sales this year were:

4301 46 Ave S - 2,450 sq ft foreclosure at $300,000

4560 45 St S - 2,500 sq ft at $650,000

4250 42 Av S - 3,234 sq ft at $1,700,000.

No others are currently under contract and there are 20 waterfront homes for sale in the neighborhood, ranging from $519,000 to $1,350,000.