Real Estate Views from St Pete

Will Power won the 2010 St Petersburg Grand Prix yesterday, showing lots of will power. This Australian driver for the Penske Team recovered from a broken back to win the first two Indy Races this year, the first in Brazil and the second here in downtown St Petersburg Florida. He had the fastest qualifying times, started in pole position, and won by nearly a second. The St Petersburg Grand Prix brings spring excitement to downtown St Pete - roads and a runway are turned into tracks for this race, streets lined with concrete barriers, tires and high chain link fence. You either love it or hate it!

This year the Grand Prix in St Pete had some completed races on Sunday, but torrential rain and lighning as well as up to 6" of standing water on some parts of the road caused a postponement of the Final Race until 10 am on Monday morning. Monday started out with rain, too, but cleared up so that shortly after 10 the race started.

Bayfront Tower has always been the prime condo location in downtown St Pete for watching the Grand Prix. This year it is joined by Signature Place, the new condo on the block. What a panoramic view of the Grand Prix course from most of the condo balconies!

Video of 2010 St Petersburg Grand Prix

2009 Grand Prix St Petersburg

Following up on the Signature Place auction 2 weeks ago, including the condos sold at the auction, there are now 92 condo units at Signature Place that are under contract or already sold during the last 2 weeks. In addition to 102 units sold before the closing, that's 194 units out of 244 or 79.5%. I'd say that the Signature Place condo auction was a successful auction!

The remaining units are only being shown by appointment and appointments are filled up days in advance.

The auction at Signature Place has been creating buzz in downtown St Pete for the last few weeks. Today was it - the auction.  As we expected, all 41 sold, as well as 10 additional ones they put up for bid. Also as we expected, all of them sold above the minimum bids.So - 51 times this afternoon we heard GOING ONCE, GOING TWICE ....  SOLD!

It was interesting to watch the bidders - some people would bid each time to their limit and stop; some were coaxed a bit higher. Some had two determined bidders going back and forth. Yes, it was an exciting place to be.

Sale prices ranged from $174,000 to $742,000.

We've posted more details on the Signature Place condo auction in downtown St Petersburg ...

Signature Place has added six more condo units to the 35 condos that they have advertised and that are on their website. The auction is still scheduled for 1 pm on Sunday, March 7th - you MUST be preregistered to attend the auction, bring a photo ID, a Cashier's Check for $7,500 and a blank personal check, which you'll make out for the difference between 10% of your successful bid and the $7,500.

Minimum bids on the additional units are in line with those of the previously offered units and range from $215,000 to $405,000, which represent discounts from the original prices of up to 71%. No units at the $135,000 minimum bids were added to the group.

The Simms Team is over at Signature Place several times a week and sometimes, several times a day. Thus we stay current on what's happening.

We have photos of over 30 of the units being auctioned, showing not only the view from the unit, but whether and how the floors are finished, which finishes are on the cabinetry, etc.

Once again, if you want to keep your right to be represented by a real estate agent (at no cost to you since the Seller pays the commission) your agent must accompany you when you first visit Signature Place (your first visit AFTER the auction announcement). Subsequent visits can be with or without your agent. 

Note - any agent/broker registrations made prior to the announcement of the auction are null and void. The auction "starts a new game".