Now The Good News

Many of us are lucky enough to live on our beautiful Pinellas barrier Islands. We have some of the prettiest beaches in the world and some of the best real estate values. “Under all is the land” with our island properties worth much more than on the mainland. On the mainland the houses are generally worth more than the lots. This is not necessarily so in our 16 Pinellas island communities. For example, a 50’ x100’ mainland lot can be bought for $20,000. Move it to our islands and it’s $200,000. Now move it to an island canal and you’ll pay $400,000. Lastly, move the same size lot to the Gulf of Mexico and you’ll pay $1,250,000. The further good news is that Pinellas island land is less than 50% of comparable land in Sarasota, Naples and a third of the prices of comparable land on the east coast of Florida. The west coast of the U.S. has prices 4 to 5 times greater than ours. Many of the world’s investors, after being priced out of the North American west coast and inflating prices on our Florida east coast are recognizing the super values in our Gulf coast communities.

Although there are many indicators of economic turmoil ahead, people love to live where people love to vacation. When the market changes people look for bargains. Our current island real estate market is good, inventory is low and prices are rising. However, the number of owners who are considering a sale are increasing greatly. When sellers are uncertain they tend to do nothing. Then, when some local or world event happens, the pent up need to sell often materializes quickly and prices decrease.

If your personal housing situation may change within the next year I urge you find out exactly what your property is worth. To find out your approximate value go to Smarthomeprice.com , Zillow.com, trulia.com  or other home value sites. These sites are very often quite inaccurate as to today’s market value, so you’d be well served to ask a few local real estate agents for their opinion, backed up with facts. Most qualified agents will gladly offer this service to you, complimentary. Today’s value will change with supply and demand, so update your value often.   
If you’re not sure whether to sell or buy now heed the old advice “since nobody knows the top or the bottom of any market forget about selling or buying there” Before you decide to market your property be sure you know where you’re going and what you’re going to do with your money. 
I host a 1-hour weekly question and answer meeting on Tuesdays from 4 to 5 pm for sellers, buyers or agents.  It’s at my office at 5050 Gulf Blvd. St. Pete Beach 33706. Please RSVP if you’d like to attend. 

All the best, Jim “Property Wizard” Beggins, Broker

CENTURY 21Beggins Enterprises, with 13 offices and 400 agents serving Pinellas, Hillsborough, Manatee and Sarasota Counties. Since most opinions about real estate can be supported with facts. I will inform you to the best of my ability so you can unconfuse the facts to your personal advantage. I think I can use my “hands on” experience in Florida real estate since 1970 to achieve your desired outcome. Please let me know how I’m doing. mailto:jimbeggins@c21be.com 727 254 8144 Cell. Call, text or email with any questions.