Florida Realtor Magazine features Property Management information

I like to think that my past 2 1/2 years of property management has provided a steep learning curve that has just started to taper off. From my first days of inspecting properties, taking reservations, and revamping our procedures and policies, I feel I have had the rare opportunity to see vacation rental operations from small with few policies to medium with many policies and procedures in place that enhance the services we offer our guests and owners.

I was elated to offer my opinions and lessons learned to the Florida Realtor publication for their December 2008 addition. Please review the article on property management and comment with questions...I am proud to have been solicited about my ideas and opinions regarding property management and Real Estate.

In addition, be sure to review Island Real Estate's sales website for more information on Anna Maria Island property or visit our vacation rental website if you are interested in staying on Anna Maria, Fl.

Property Investors on Anna Maria Island #1 TIP

Today I spoke with two property investors on Anna Maria Island that did not use a licensed Real Estate professional and it resulted in big losses for the investors. One investor continues to struggle with a planned multifamily duplex very close to the beach that was purchased originally as a "flip." Yes, this was a purchase made in 2006 and has sat vacant for two years and has been for sale during that time. The biggest issue regarding the planned flip was skipping using a licensed realtor as well as paying for an inspector to at least verify the structural, plumbing, and electrical integrity of the home. Unfortunately, the electrical and structural integrity of the home had big problems. Consequently the multifamily home has not sold and has made minimal renovations quite costly.


The second property investor bought through a friend that is an active property owner on Anna Maria. Unfortunately it was I who informed the new proud owner of their newly purchased home that the investment property was zoned as a one month minimum rental. I answered a few "are you kidding me" questions. The one month minimum rental guideline reduced rental income by more than 50%. I of course assisted the disappointed investor with potential options but thankfully the new owner spoke with me prior to making more than $100,000 of improvements in order to get the home ready for weekly rentals.

So why do so many smart investors choose to save 1-3% by not using a licensed real estate sales person? I continue to be baffled by this question.

I can help or many of our local real estate sales professionals are here to help. Be sure to quiz your soon to be most important person that supplies your investment advice. Does the realtor live on the island? What organizations are they active on? What and when was their most recent real estate training? Review the Realtors website as well as what information they provide on the website. Bottom line: choosing your realtor is one of the most important decisions you will make regarding your purchase of Anna Maria Island property. Many would argue that choosing which home to purchase is the most important decision however good sales associates know that many buyers do not see all properties for sale. Many buyers don't have the opportunity to make the best choice for their Anna Maria, Fl property because they don't see all their options! Choosing the right Realtor will ensure you see all potential properties that meet your search criteria.

Visit Island Real Estate's website for our list of professional Anna Maria Island realtors. If luxury real estate is more your style then be sure to visit Island Real Estate's exclusive luxury only real estate website.

September 2008 Anna Maria Island Real Estate Market information

Anna Maria Island in September and October becomes pretty quiet every year. Typically most locals find they schedule the majority of their vacation during this time. September is a beautiful month in the domestic U.S.A and the height of Hurricane season is in September so it all makes sense and we all set our seasonal watch to a slow season in Sept/Oct.

So, September transactions are typically slower than the rest of the year. That was the case this year and our September stock market tumble put everyone on the edge of their seat. I looked away for a week and a half and the DOW lost 2000 points. Yikes, we saw many prospective buyers head to the sidelines awaiting more news on the stability of world wide financial markets.

Anna Maria Island Single family Real Estate transactions are up 28% YTD, Condominium transactions are flat versus 2007, and multi-family transactions are triple as compared to last year.

Below you will find the average single family residential average SOLD prices for year over year. The dotted line shows 10% appreciation. Average single family homes since 2000 have appreciated at a rate more than 10%. Wondering where to further diversify your stock portfolio?

The below chart shows multi-family and condominium average SOLD prices for the past 8 years. Both property types have continued to slip in 2008 however the transaction volume versus inventory for multi-family Anna Maria Island Real Estate would lead us to believe that 2008 will be the low for multi-family properties. Condominiums are a bit more difficult to predict. We could see further slippage in 2009 however only time will tell and of course if I had a crystal ball - well you know the rest of the story but this is just on person's opinion who lives and breathes Anna Maria, Fl Real Estate.

Be sure to call with questions or if you believe I can help further diversify your financial portfolio with Anna Maria Island property. I am not a CPA, however I can provide initial guidance regarding passive losses, passive income, and in many cases help find an investment property that creates a lower Federal income tax base with limited negative cash flow burden. Rental income from a vacation rental plays a large part in your Anna Maria Real Estate investment. I can help ensure the location you choose as well as the amenities of the investment property will be sure to reach your Anna Maria rental investment goals.

A continued thanks to Alan Galletto of Island Real Estate of Anna Maria Island, Inc for supplying data to support the charts above. Please Note, I nor Island Real Estate of Anna Maria Island inc make any guarantees of the data above and all data is supplied by Mid Florida Multiple listing service.

Anna Maria Island Property Management Tip

Anna Maria Island, Florida via the census says that approximately 60% of our property owners maintain that their Anna Maria property is their primary home address. My estimate is that our full time residents are closer to 45% of our 6000 properties on the island.

Island Real Estate of Anna Maria Island prides itself on our rental division that supports absentee owners looking to offset debt service as well as property operational costs. With over 200 properties we have a dedicated person that focuses their time ensuring we continue to look for ever improving vendors to support our property owners. Lawn vendors, pool services, handy men, as well as other companies are critical to ensuring Anna Maria Island property is maintained and well taken for.

No service is perfect and sometimes our vendors do make mistakes. Lawn services very often struggle with chopping sprinkler heads off and a few hundred dollars of wasted water can create an expensive opportunity for improvement. Well be sure to keep your water statements. If you endure a sprinkler head malfunction that significantly increases your water bill firstly get it fixed and fast. Every week your sprinkler system turns on with a broken sprinkler head you are literally wasting about $50. After your sprinkler is fixed and you receive a normal water bill, give Manatee Customer Utility Customer Service (MCUCS) a call and let them know you have repaired your sprinkler system. (941)792-8811 They will ask for a fax of your elevated water bill and the following month's normal bill. Once they receive proof the problem has been fixed, MCUCS will credit your account the difference between a normal bill and the elevated bill due to sprinkler problems. That's right, with 5 minutes of time you can save yourself $100 - $300.

If you need more tips like this give us a call or visit our website. Don't be fooled by imitators of Island Real Estate's superior customer service. We pride ourselves on being the premier Real Estate and property management service on Anna Maria Island. I would love to help. Give me a call at (941) 345-1288

August 2008 Anna Maria Island Real Estate news

Anna Maria Island Real Estate has a strong head of steam versus 2007 and 2006. Reviewing the chart below you can see in more detail each segment of Anna Maria, FL Real Estate.
For single family residential Real Estate on Anna Maria Island our transaction levels are up over 40% versus 2007. Continuing to be just as impressive are 2008 single family transaction levels. They are up 40%+ versus 2007. Condos and multi-family transactions are substantially up versus 2007 and continues the positive real estate news on Anna Maria Island.



Single family residential average square foot values continue to hold steady while multi-family, and condos continue to slip in value.




If you are interested in single family property on Anna Maria Island we expect 2009 to begin a modest appreciation period. Condos, vacant land, and multi-family will see a leveling period in 2009. Of course this data is for information only and should not be the only decision making information used to purchase your Anna Maria, Florida Real Estate. Please visit our website for more information on Anna Maria Island as well as Real Estate property for sale.

Anna Maria Island and surrounding area flood information

Well, determining the risk level for a property on Anna Maria Island is pretty easy...it is going to be high risk in case of flooding. However if you are purchasing in North West Bradenton or elsewhere, the flood risk can be a bit more difficult to determine. Of course your qualified professional Realtor will be able to inform you however there are lots of great sources on the world wide web.

A fantastic source is the website for the National Flood Insurance Program. Type in the address you are considering and the website will inform you if you are in a low - moderate - high risk area for flooding. The website will also provide estimates for flood insurance as well as local insurance agents and the distance from your home. Of course to apply for assistance or for more information you can visit the FEMA website.

If you are still searching for your perfect "peace" of paradise be sure to visit Island Real Estate's website for Vacation Rentals or if a longer stay is required review our Real Estate listings. If you are more in the luxury Real Estate market be sure to visit our new exclusive luxury Real Estate website for the Anna Maria Island and surrounding areas.

Anna Maria Island property of the month - $795,000

Fabulous Gulf View condo just reduced to pre-construction pricing for this post-construction Gulf of Mexico property. The turnkey furnished Luxury Condo is more than 2,400 Sq Ft which is larger than most homes! The home is part of a two property condo complex. Just Steps to the gorgeous Anna Maria Island Beaches and all the amenities of a very large private home. This 3BR/3.5BA residence has an individual foyer, elevator, PRIVATE pool with fountains, privacy fence, hurricane pkg beyond current code, lush tropical landscaping, sprinkler system, distinctive finishes throughout, and much more. The home is already a rental machine with Island Real Estate of Anna Maria Island Inc. Please note, 4 BR/4BA is also offered at more than 3,000 sq ft for $995,000.

Property listed with Island Real Estate of Anna Maria Island, Inc. Call, email, or visit our website for more information.