Bradenton Real Estate News

North Manatee next growth boom area

2006-02-07T09:01:00.000-08:00

Here is an article from the Bradenton Herald about the boom in north Manatee county. I think this could be a great location in between Sarasota and Tampa. You can have the luxuries of both of these cities as well as everything in Bradenton. I presume they will build affordable housing which is necessary for our local economy.

North Manatee next growth boom area

Home sales continue to drop

2006-01-26T17:08:00.000-08:00

MELISSA FOLLOWELL
Herald Staff Writer
MANATEE - Local home sales in December fell 42 percent from December 2004, continuing the decline in sales that began in March.

After a hot year of sales in 2004, the number of sales started to slide in 2005.

On average, sales between 2004 and 2005 mainly showed single-digit differences in month-to-month statistics. December's 42 percent decrease was by far the most dramatic.

Read the rest of the article here:
http://www.bradenton.com/mld/bradenton/13713352.htm

This slowdown was inevitable. Real estate rates cannot continue up 20-40% a year forever. We are returning to a more normal balanced market. The Bradenton real estate market is still a good investment in my opinion. I believe you just have to be a little more careful. 2 years ago you could have thrown a dart and made money. Look for property along the Manatee River.
Contact me if you are looking for property to purchase or if you need to sell a property.

$3.5M seals Riverpark deal

2006-01-04T16:48:00.000-08:00

Here is another article about more downtown Bradenton condos. Numerous downtowns across Florida have experienced a revitalization with new condos and retail developments. Downtown Bradenton seems to be just taking off. There are numerous condo developments slated for the downtown area. I think buying property in this area would make a great investment.

http://www.bradenton.com/mld/bradenton/business/13542551.htm

Affordable condos in Bradenton planned

2005-12-22T05:36:00.000-08:00

Affordable condos planned

MELISSA FOLLOWELL
Herald Staff Writer

BRADENTON - A local rental community will soon be providing the opportunity of home ownership in a price range that has been virtually nonexistent in Manatee County.

Cedar Tree Village Apartments will soon be called City Walk Condominiums, offering two-bedroom, two-bath units starting at just $124,900. The complex is at 2019 Fifth St. W. in Bradenton.

You can read the rest of the article here: http://www.bradenton.com/mld/bradenton/business/13460821.htm

Article about me in the Sarasota Herald Tribune

2005-12-19T07:29:00.000-08:00

Here is the article written about me:

http://www.sarasotaherald.com/apps/pbcs.dll/article?AID=/20051219/BUSINESS/512190328

Lakewood Ranch takes first walk on Main Street

2005-12-17T04:03:00.000-08:00

Event gives shoppers a sneak peek of what lies ahead

NICHOLAS AZZARA
Herald Staff Writer

LAKEWOOD RANCH - It was 72 degrees with starry skies outside, and "snow" dusted the upscale shops and a curious crowd of 1,000 at Main Street at Lakewood Ranch Thursday evening.

Only three of the retail center's three dozen-plus stores were open for a VIP walk-through, but no one's spirits or enthusiasm were dampened.

Guests poured in hoping to be among the first to glimpse Lakewood Ranch's future shopping and entertainment center near Town Center and Lake Uihlein. Merchants still waiting for occupancy permits passed out information at kiosks in front of their storefronts.

Will high-end buyers line up in cooler housing market?

2005-12-17T04:01:00.000-08:00

By TOM ARTHUR and RYAN BOYD
tom.arthur@heraldtribune.com
ryan.boyd@heraldtribune.com

MANATEE COUNTY -- The region's next big gated community is about to start construction on its first homes, and they won't be cheap.

Starting at $500,000 and in some cases topping $1 million, homes at River Strand will be situated around a scenic golf course that hugs the southern shoreline of the Manatee River.

It's the second phase of the huge Heritage Harbour housing development that currently has 650 homes along State Road 64 east of Interstate 75.

Read the rest of the article here:
http://www.sarasotaherald.com/apps/pbcs.dll/article?AID=/20051217/NEWS/512170400

Builder acquires land for $47M

2005-12-14T17:15:00.000-08:00

Condo conversions adding to dwindling apartment units
MELISSA FOLLOWELL
Herald Staff Writer

MANATEE - A Chicago-based condominium developer recently paid $47 million for 18 acres of property north of University Parkway, making it one of the county's largest land deals in recent years.

MCZ/Centrum purchased the property from Douglas Manatee Partners.

Douglas Manatee Partners was developing Douglas Grand Apartments on the site when MCZ/Centrum took an interest in the property, said Denise Wilson, executive assistant for Douglas Manatee Partners.

Though the deal has been in the works for several months, it officially closed once construction was completed.

Read the rest of the article here: http://www.bradenton.com/mld/bradenton/13401838.htm

Downtown Bradenton Condo development approved

2005-12-14T17:06:00.000-08:00

Bradenton council approves commercial, condo towers beside Wares Creek

Tim W. McCann
Herald Staff Writer

BRADENTON - The city council this afternoon approved a high-rise development downtown.

The commercial and condo project, called Downtown City Central, won a 5-0 vote of council members in regular session of Bradenton City Council.

City Central will be built on property that formerly was occupied by city hall at the intersection of Manatee Avenue West and 15th Street West. It is across the street from the Bradenton Financial Center. Investor Dottie McCarthy bought the property from the city, and then sold it to developer Ron Allen.

Allen told The Herald today he expects groundbreaking on City Central to be sometime in the summer.

Plans call for a four-story building with commercial and office space, and two condo towers on top with 106 high-end units.

Ward 3 councilwoman Michelle Weaver moved for approval, probably her last motion as a council person. (She chose not to run for re-election this year.)

"I'm glad to have this in Ward 3," she said.

Movement afoot on Trail - More downtown Bradenton developments

2005-12-14T17:00:00.000-08:00

City's development authority OKs deals along 14th Street West.

By JULIA GLICK
julia.glick@heraldtribune.com

BRADENTON -- Plans to transform Bradenton's rundown main drag into a showpiece are moving forward in fits and starts, with several deals recently OK'd and one large redevelopment plan scuttled.

The recent burst of activity on 14th Street West, also known as Tamiami Trail, comes after decades of decline and years of plodding revitalization.

The city's Downtown Development Authority, charged with remaking the street, accepted a developer's bid Tuesday to buy the city's downtown shuffleboard courts and build 30 town houses there. If approved by the City Council, it would be the first redevelopment project in years undertaken on the Trail, long beset by crime, shabby motels and scores of homeless people.

Last week, the authority purchased the Manatee Inns a few blocks away, and plans to tear it down and sell the land for development. A private developer also bought the Classic Inn nearby and plans to eventually develop it.

Read the rest of the article here: http://www.sarasotaherald.com/apps/pbcs.dll/article?AID=/20051214/NEWS/512140519/1003/NEWS0102

Cornerstone project - Downtown Bradenton Real Estate

2005-12-14T16:55:00.000-08:00

Plan for city hall site is key to downtown revitalization
Bradenton officials had high hopes six years ago when they sold the former city hall building at the corner of Manatee Avenue and 15th Street West. The buyer, a local investor, vowed to transform the property on Wares Creek into a showpiece for a struggling downtown.

After quite a few twists and turns -- and a lot of thumb-twiddling -- the vow and the property are under new ownership. This morning, the City Council will finally review a viable development plan for the site.

Read the rest of the article here Sarasota Herald Tribune

Realtors say tide turning in homes market

2005-12-07T15:24:00.000-08:00

It's becoming a buyers' market
MELISSA FOLLOWELL
Herald Staff Writer

MANATEE - The number of homes on the market in Sarasota and Manatee counties more than doubled from October 2004 to October 2005, while sales have fallen slightly.

This may be the reprieve that discouraged buyers have been anticipating.

"We've had such a red-hot market, nobody expected it to last indefinitely," said Rod Rawlings, owner/broker of Action Team Real Estate of Bradenton.

Read the rest of the article here:
http://www.bradenton.com/mld/bradenton/13345604.htm

New Development in Palmetto

2005-11-22T11:31:00.000-08:00

Plan creates 136 homes

TIM W. McCANN
Herald Staff Writer

PALMETTO - A riverfront development proposed for the older section of Palmetto drew mixed responses from city officials during a workshop Monday.

The proposed development, named Bella Tramonto, would add to downtown 136 upscale homes and office and commercial space - a goal of the Palmetto Community Redevelopment Agency's master plan, created last year and endorsed by city commissioners.

But the plan also puts high-rises in a section of Palmetto where historical ambiance is important to city officials, business owners and residents. A couple of commissioners also said the tall buildings create a "wall" of concrete along the waterfront.

Read the rest of the article here:
http://www.bradenton.com/mld/bradenton/news/local/13229400.htm

Tracking growth: Lower-priced homes get OK

2005-11-11T13:37:00.000-08:00

DUANE MARSTELLER
Herald Staff Writer

MANATEE - A proposed affordable-housing complex near Palmetto won an advisory panel's support Thursday after the board's chairman, who works for the developer, criticized media coverage of that fact and recused himself.

The Manatee County Planning Commission's six other members unanimously recommended county commissioners approve, with several conditions, de Morgan Communities' Caloosa Gardens project. The developer wants to build 21 buildings with 124 townhouse units, 31 of which would be designated as affordable for those with very low to moderate incomes, at 815 39th St. E.

If county commissioners approve the project next month, Caloosa Gardens could welcome its first homeowners late next year or in early 2007, said Dan Barwick, de Morgan's chief executive officer. It would be the company's second affordable-housing project in Manatee. The first, Oakview, is under construction.

Read the rest of the article here:

http://www.bradenton.com/mld/bradenton/news/local/13137814.htm

Farms to sprout hundreds of new homes

2005-11-10T09:25:00.001-08:00

STAFF REPORT

MANATEE COUNTY -- With 106 homes here, and 124 units there, the former farms of Manatee County are sprouting small crops of suburbia.

Two more housing projects could begin construction next year, one a single-family development in Parrish and the other a town house complex in Palmetto.

The article can be found here: http://www.sarasotaherald.com/apps/pbcs.dll/article?AID=/20051110/NEWS/511100470

Plans for new homes OK'd - Greyhawk Landings West

2005-11-04T04:34:00.000-08:00

NICK MASON
Herald Staff Writer

MANATEE - Revised plans for Greyhawk Landing West subdivision were approved Thursday with last-minute changes aimed at satisfying neighbors and the developer.

Commissioners voted 5-0 for a rezoning and site plan of 493 single-family homes that calls for construction of 117th Street East from State Road 64 to Upper Manatee River Road in three stages.

Developer Sam Rodgers, of Venice, got his project cleared. Neighbors to the west will get a paved 117th Street East sooner in front of their properties, and residents in the Gates Creek 62 subdivision avoid getting an east-west connector road linking to their streets and a delay of up to five years before 117th Street East is built beside them.

Read thed rest of the article here:
http://www.bradenton.com/mld/bradenton/13077260.htm

This area, Palmetto and Ellenton continue to be popular for developers and new home builders.

Owners paid for their 'modest modern' home with money, sweat

2005-11-04T04:28:00.000-08:00

Here is an article from the Sarasota Herald Tribune about some friends and clients of mine. ;-)

http://www.sarasotaherald.com/apps/pbcs.dll/article?AID=/20051029/REALESTATE/510290332/1201

Bradenton median resale home price sky rockets

2005-10-26T15:09:00.000-07:00

Home resale prices rise 27 percent

MELISSA FOLLOWELL

Herald Staff Writer

MANATEE - On the day Manatee County commissioners approved changes encouraging the construction of affordable housing for the average worker, the Florida Association of Realtors released figures showing that the median home resale price in Manatee County continues to skyrocket.

The median price of an existing home in the Sarasota-Bradenton market during September rose 27 percent over last year's prices to $334,100. Though the increase was substantial, it showed a downward trend in the rate of increase. In August, prices escalated 34 percent over the previous year.

But local Realtors noted that figures may actually indicate a shift away from a red-hot seller's market to more balance in the market for buyers.

The number of home sales dropped from the same month in 2004 and the percentage of price gain was slightly under the state average.

Joan Oliszewski, president of the Manatee Association of Realtors and a Realtor with Wagner Realty, attributed the slowdown to the cumulative effects of a 10-month-long siege of red tide and an over-active hurricane season keeping some visitors away this year.

"We have seen a decrease in customer traffic. We have more listings, but they're not moving as quickly. They aren't flying off the shelf like they were," Oliszewski, said.

To read more on this article go here: http://www.bradenton.com/mld/bradenton/12996269.htm

I agree that things are starting to cool off a bit. The number of listing have gone up and they are not selling as fast. It will be interesting to see what happens when the hurricane season is over, they get a cold snap up north and the snowbirds come back for the winter.

The buyers seem to have a little more leverage at contract time. Go to my Bradenton real estate website if you want to see all homes and condos for sale in Manatee county.

Bradenton condos to face stricter law

2005-10-22T05:59:00.000-07:00

Planned 19-story towers must conform to new guidelines for historic neighborhood

TIM W. McCANN
Herald Staff Writer

BRADENTON - A developer's plan for new high-rise condominiums and other housing in a historic neighborhood likely will become the first proposed project to face a hearing under stricter city laws aimed at protecting historic buildings.

Developer Riviera Southshore Ventures' planned development project calls for 573 homes, many in three 19-story condominium towers, on waterfront property bordered by the Manatee River, Manatee Avenue East and 10th and 45th streets east.

The 29-acre site lies in the former town of Manatee, now part of east Bradenton, where some residents live in century-old mansions and many take pride in their neighborhood's rich history.

Read the rest of the article here:
http://www.bradenton.com/mld/bradenton/news/local/12914829.htm

I own property along the Manatee River that this developer has under contract for this development. I believe this development would be great for Bradenton. The obvious reasons are the property taxes generated from higher priced properties, the number of jobs created from the construction of the condos and the new additional businesses and jobs started to support the new residences.

Homes along the Manatee river have gorgeous views. This development would help accomodate the large number of people moving to Florida wanting those gorgeous water views. If they don't get them in Bradenton they will go elsewhere in Florida.

Revitalizing this distressed neighborhood will make the downtown Bradenton area more attractive and a more desireable place to live. With this and like kind projects downtown Bradenton will attract more restaurants, entertainment, culture, arts, shopping, and residences.

New Home Depot planned in Bradenton

2005-10-22T05:54:00.000-07:00

Home Depot plans 3rd store

KURT D. SCHULTHEIS

Herald Staff Writer

MANATEE - Home Depot is planning a store for the corner of U.S. 41 and 53rd Avenue West.

A site plan submitted to the county planning department calls for a 184,654-square-foot store on 17.8 acres to replace "an aging mobile home park, a mini-warehouse storage facility and an amusement center," according to the application.

Two outparcels are also planned that would include a 12,000-square-foot bank or fast food restaurant and a 14,000-square-foot proposed bank site.

Currently the Aloha Estates Mobile Home Park; The Attic Personal and Business Mini-Storage; and Pirate's Cove, a longtime go-cart and amusement facility, are located on the property.

Read the rest of the article here:

http://www.bradenton.com/mld/bradenton/12966672.htm

This is always a good sign for the community and it's real estate. ;-)

Bradenton city's condo ruling disputed

2005-10-22T05:51:00.000-07:00

City's condo ruling disputed

TIM W. McCANN
Herald Staff Writer

BRADENTON - The city faces a challenge for denying a developer's plan to build condominium towers and boat slips on the Braden River.

Peninsular Properties Braden River LLC, the developer, and Manatee Corp., the owner of a 6.81-acre site at 3700 State Road 64 E. where Peninsular wanted to build, want a special master attorney to review the city council's Sept. 14 decision denying Peninsular's proposed plan. The special master hearing lets governments attempt to resolve a dispute with a plaintiff instead of going to court.

The rest of hte article can be read here:
http://www.bradenton.com/mld/bradenton/12967869.htm

Bradenton FL condos

2005-10-12T10:24:00.000-07:00

Manatee singing condo blues
Conversion craze blamed for drop in median price

By MICHAEL BRAGA
michael.braga@heraldtribune.com

BRADENTON -- Prices for Manatee County condominiums posted their first year-to-year drop since May 2002.

The median price was $165,000 in September, 1.6 percent lower than the $167,600 during the same month a year ago.

Realtors were quick to say that the decline is not evidence that Southwest Florida's red hot real estate market is cooling.

Instead, they point to the condo conversion craze.

"There's been a large amount of condo conversions coming on the market at prices around $150,000," said Ruth Ann O'Ski, an agent with Global Realty Marketing in Bradenton. "The prices of these condos are so much lower than average existing home prices that they've brought down the median."

No one knows precisely how many apartment complexes are being converted to condos in Manatee County, but appraisers and real estate agents estimate that as many as 4,000 units will be converted this year.

"They're popping like popping corn," said Dale Friedley of the Manatee County Property Appraiser's Office. "It's happening a lot faster than I predicted earlier in the year. There have already been more than 2,000. Every apartment complex of any size is thinking of it."

The rest of the article is here:
http://www.sarasotaherald.com/apps/pbcs.dll/article?AID=/20051012/BUSINESS/510120666

Be careful relying on averages of property values to assess the health of the real estate market. The numbers can be skewed either way to make the real estate market look healthy or sick.

Bradenton Waterfront Property Values Soaring

2005-10-11T12:02:00.000-07:00

Waterfront values soaring
Survey of Manatee's property tax rolls reveals huge gains in average home prices
NICK MASON
Herald Staff Writer

MANATEE - Joe Bracken worries that he and his Holmes Beach neighbors have too much good fortune.

Average home values soared more than 26 percent in Holmes Beach and Bradenton Beach last year, continuing to lead the pack in Manatee County's hot housing market, according to the Manatee County Property Appraiser's Office.

Bracken's home tripled in value over the past eight years, but he worries because several neighbors cashed in on prosperity by selling their homes to investors for conversion to other use, gradually changing the character of the island.

"It's a mixed blessing," he said. "What we are trying not to do is lose our residential basis. If we all give up, we will have absentee landlords and we will lose the essential values that are why we came here."

The Herald examined property values across Manatee County on the 2005 property tax roll by ZIP code territories to see who gained and who lost in the past year, compared with the 2004 tax roll.

The major findings include:

• The housing boom triggered double-digit jumps in most residential property values, while most commercial and industrial properties rose at a slower pace.

• Most of the biggest gains in value were in ZIP code areas with much waterfront property.

• Residential properties with historically low prices climbed sharply last year because they were affordable, attracting buyers priced out of the soaring new-home market.

• University Park and its affluent neighbors in the 34201 ZIP code west of Interstate 75 and north of University Parkway were the slowest growers.

The rest of the article can be seen here:
http://www.bradenton.com/mld/bradenton/news/local/12855838.htm

I am glad I bought that home on the Manatee river last year. ;-)

Anna Maria Island Real Estate

2005-10-10T16:09:00.000-07:00

For more information on Anna Maria Island and to see all homes, condos and land for sale go to my Anna Maria Island Real Estate page.

For help with real estate on the island give me a call or send me an email at Anna Maria Island Realtor. 941-308-6766.

Bradenton Roaring Real Estate Market Carries Risk and Reward

2005-09-11T15:01:00.000-07:00

Region's roaring real estate market carries reward and risk
By MICHAEL POLLICK

If you've owned a home in Southwest Florida in the past three years, you know what a bubble is.

Headed into 2003, you bought a Sarasota-Bradenton house -- likely in the ballpark of $165,900 -- and could have sold it in July for $333,900, an easy double.

That's faster than real estate has moved anytime since the Roaring '20s, which witnessed a Florida real estate bust preceding the 1929 stock market crash by two years.

The Sunshine State has been in the throes of a real estate frenzy for the past three years, with Southwest Florida racking up some of the largest percentage gains.

Through the first half of 2005, prices seemed to be escalating in their rate of ascent. On top of 20 percent gains in 2003 and 27 percent gains in 2004, prices this year are up 33 percent.

The rest of the article can be read here:
Article on Bradenton Real Estate

Interesting Points

(1) Don Saba, who specializes in appraising high-end Sarasota property, puts it in a nutshell: "You've got 30,000 people a month moving to the state of Florida. A good portion of them are coming to the west coast.

"I believe values are going to continue to go steadily higher for the next 12 to 15 years."

(2)How leveraged are you?

Some experts use leverage as a gauge for how vulnerable a region's real estate is.

Southwest Florida looks good on paper, less leveraged than most major U.S. markets, a fresh loan-to-value study by SMR Research of Hackettstown, N.J., shows.

Using national data from lenders, SMR ranked 231 counties based on what percentage of their homes had financing of more than 80 percent of their value -- considered a leveraged property in the industry -- and more than 95 percent, "extremely leveraged" in SMR's view.

"Sarasota actually was relatively low on the scale, in other words not too over-leveraged," said George Yacik, an SMR vice president.