Weiss International Realty . The international Florida Real Estate Company » Bradenton

Stringent Rental Restrictions devastate property values

axel — Thu, 29 Jul 2010 14:48:09 +0000

Bradenton / Sarasota - Internationals are getting more and more interested in Florida Real Estate. Axel Weiss, Broker/Owner of Weiss Realty Bradenton, notices that many international investors realize it is the perfect time to buy an investment or 2^nd home right now. Most of these people don’t even expect to even get a mortgage here in the US. So they arrive with tons of cash. If you were a sell, wouldn’t you dream of a scenario like this…

While in the past the majority of international buyers were retirees, the current buyers from overseas are getting younger and younger. Many of them are trying to secure a piece in paradise with a clear investment strategy. Use the home for a couple of weeks each year for themselves and rent it out to vacationers in order to cover the expenses like insurance and taxes. Just a combination of 2^nd home and investment.

However they have to keep an eye on one thing: Long term rentals don’t work, as they want to use the home or condo several times per year for themselves. They could rent it to snowbirds, but many homes are just too high priced in order to rent for 3 months or more. And many retirees are locked with their pension portfolios right now and have to scale back on their winter plans.

So these foreigners are advertising their homes as extended vacation places for other people who prefer the amenities of living in a community against staying at hotels for stay between a few weeks to several months. Many communities in the Bradenton/Sarasota area however show relatively tight rental restrictions regulating the number of times per year a property can be rented out and/or minimum leases terms. Some restrictions are manageable, but if you are limited to a minimum of 6 months or just once per year, or even no rentals at all, it’s a “No-Go” for every investor.

Recent calculations show a loss in usability of about 25% – 33% for an identical property with or without rental restrictions. That’s about $100,000 on a $300,000 property in usability loss. The stricter the restriction the higher the loss. Because not everybody is planning to rent at this point the loss in property value might be a little less dramatic. As – however – in future more and more people are living on tight budgets, condos and homes with higher restrictions will have a lower potential of possible gain in value.

For the homeowner it’s a disaster, just imagine: If somebody from your neighborhood knocks on your door and asks for support of new rental restrictions, ask yourself why they want to take $100,000 from your money? And if your association already has strict rental restrictions in place, ask yourself what you would do with the $100,000 if they get rid of them.

And the community is suffering, too: You have foreclosures or unpaid dues in your community? Maybe the owners are just not able to rent / sell their place as fast as possible. By time, they get late in the HOA dues and the community is suffering.

A well-off investor from overseas with cash in a property will probably be the best add-on for your community. So watch out and make sure you stay attractive for this clientele!

For more information on how to market your property locally and internationally please contact:

Axel Weiss, Broker
Weiss International Realty
Bradenton, FL 34205
(941) 866 1666

June 2010 Bradenton market trends

axel — Mon, 05 Jul 2010 19:23:08 +0000

Bradenton Market Trends

Today, July 5, 2010

Median Sales Price in Bradenton

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No. Bedrooms	Apr – Jun ’10	y-o-y	3 months prior	1 year prior	5 years prior
1 bedroom	$42,500	-11.5%	$35,500	$48,000	$85,000
2 bedrooms	$99,500	+10.6%	$80,000	$90,000	$169,450
3 bedrooms	$152,000	-1.6%	$149,950	$154,500	$279,900
4 bedrooms	$235,200	+6.9%	$213,500	$220,000	$387,450
All properties	$134,000	+7.2%	$119,900	$125,000	$238,000

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Median Sales Price
Number of Sales Copy & Paste HTML to embed this graph in your website:

Bradenton Summary

The median sales price for homes in Bradenton FL for Apr 10 to Jun 10 was $134,000. This represents an increase of 11.8%, or $14,100, compared to the prior quarter and an increase of 7.2% compared to the prior year. Sales prices have depreciated 43.7% over the last 5 years in Bradenton.

The average listing price for Bradenton homes for sale on Trulia was $259,088 for the week ending Jun 30, which represents an increase of 3.2%, or $8,084, compared to the prior week and an increase of 3%, or $7,666, compared to the week ending Jun 09. Average price per square foot for Bradenton FL was $88, an increase of 1.1% compared to the same period last year.

Average Listing Price in Bradenton

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No. Bedrooms	Week ending Jun 30	w-o-w	Week ending Jun 23	Week ending Jun 16	Week ending Jun 9
1 bedroom	$63,710	-0.7%	$64,144	$72,086	$89,223
2 bedrooms	$135,722	+1.7%	$133,408	$133,629	$134,864
3 bedrooms	$250,529	+1.4%	$247,136	$248,011	$250,690
4 bedrooms	$493,178	+3.8%	$474,976	$464,118	$466,545
All properties	$259,088	+3.2%	$251,004	$247,508	$251,422

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Average Listing Price
Number of listings Copy & Paste HTML to embed this graph in your website:

Average Price Per Sqft for Homes in Bradenton

Embed Info

No. Bedrooms	Apr – Jun ’10	y-o-y	3 months prior	1 year prior	5 years prior
1 bedroom	$60	-14.3%	$57	$70	$118
2 bedrooms	$84	+1.2%	$73	$83	$153
3 bedrooms	$95	+2.2%	$89	$93	$171
4 bedrooms	$105	+11.7%	$95	$94	$167
All properties	$88	+1.1%	$81	$87	$163

AmericanStyle ranks Bradenton in Top 25 Small Cities for Art

bea — Tue, 25 May 2010 16:25:16 +0000

The current issue of American Style magazine lists Bradenton in the Top 25 Small Cities for Art, the latest in a series of national recognitions of Bradenton’s arts and culture.

Last year Art Calendar magazine ranked Bradenton as one of the “10 great towns for working artists” and last fall Gallup’s “Soul of the Community” ranked Bradenton No. 1 in “community attachment” in a study of 26 cities nationwide.

AmericanStyle magazine, one of the country’s premier publications on the arts, ranked Bradenton No. 22 in its Top 25 Cities for Art in the small city category.

The new issue hits newsstands today.

Get information on the cultural planning process and the organizations involved at www.realizebradenton.com.

Realize Bradenton’s cultural partners include ArtCenter Manatee, Manatee Players, Manatee Historical Village, South Florida Museum, Village of the Arts, Hernando DeSoto Historical Society and the Pittsburgh Pirates.

More information about the city of Bradenton: http://www.cityofbradenton.com

Bradentown and Manatee County 100 years ago

axel — Sun, 10 Jan 2010 01:39:45 +0000

There are so many reasons why to move to Bradenton, but here are some which exist for almost 100 years…

more to come…

If you have any questions about Bradenton, Manatee County, Anna Maria Island and Sarasota, do not hesitate to contact the INTERNATIONAL Bradenton and Sarasota Real Estate Company:

Weiss International Realty
Axel Weiss, Broker
T. (941) 866 1666
www.bradentonbroker.com

130% Increase in Condo Sales

bea — Wed, 23 Dec 2009 16:12:57 +0000

There was an article in today’s Herald Tribune about a 130% increase in condo sales in Sarasota, Florida.

Here are some highlights of this article:

In the Sarasota-Bradenton market, 239 condos changed hands, a 130 percent increase from the 104 sales that took place during the same month a year earlier.

Realtors and analysts attribute the uptick to both the first-time buyer tax incentive, which was recently extended, and to the return of investors to the market.

All over the region and across the state, investors are snapping up condos that either came out of the ground or were converted from apartments during the boom.

In Sarasota-Bradenton, the median condo price was down 20 percent to $141,100 in November from the same month a year ago.

If your are interested in buying or selling a condo in the Bradenton/Sarasota are, please call the experts @ 941.866.1666.

Bed & Breakfast for Sale

bea — Sun, 20 Dec 2009 05:23:48 +0000

UPDATE: PROPERTY HAS BEEN SOLD BY WEISS INTERNATIONAL REALTY

Current use is Bed & Breakfast or use it as a great Old Florida Style Pool Home with in law quarters.

Large 4 Bedroom / 3.5 Bathroom home on quiet street in West Bradenton offers huge caged deck and heated pool with auto cleaner. The oversized, fenced in lot offers two lush, landscaped backyard areas, one on each side of the pool area, offering various fruit trees as well as large old oaks.

Relax by the pool and enjoy the private setting. Lots of parking space availabe for RV/Boat. Features updated kitchen and baths, skylights, beautiful oak floors, wood burning fireplace front porch and an additional enclosed upper veranda.

Amazing combination of old Florida Lifestyle and modern convenience. Great income opportunity if desired.

More information: click here

Bradenton featured on Boston.com

bea — Thu, 05 Nov 2009 14:21:51 +0000

Bradenton, especially Downtown Bradenton and the Village of the Arts have been recognized by Boston.com. I reprinted the article below:

BRADENTON, Fla. – Turn onto 12th Street West, and it’s clear that this isn’t your average neighborhood. Instead of the usual bungalows, there is a riot of lime green picket fencing, a mural that pairs Frida Kahlo with an emaciated Christ figure, and a giant cow statue painted blue. And that’s just within two blocks.

Welcome to Village of the Arts, a funky collection of more than 35 galleries, studios, cafes, and shops stretching between 9th Street and 16th Street West, and 9th and 14th Street West in what was once a rough section just south of downtown Bradenton, 50 miles south of Tampa on Florida’s Gulf Coast. Formerly a place known for crack houses and prostitutes, Village of the Arts started as a grass-roots attempt to reclaim the neighborhood by a few brave artists in search of cheap real estate and a community. A decade later, what began as a social experiment has become a reason for locals and visitors to spend time away from Bradenton’s sandy beaches.

Bonni Brown was one of the first to stake a claim. The former New York clinical social worker opened a bakery cafe in September 1999. “We bought this place from a man arrested for shooting at crackheads. Got a great deal.’’ Today, the 100-year-old building houses Bonni Bakes, a friendly spot to have fresh mango lassi, a curried chicken salad sandwich, and a slice of red velvet cake. “We still get locals who’ve lived here all their lives and say, ‘When did all this happen?’ We’ve finally got some signs up, which will help a lot.’’

Brenda Smoak is the newest kid on the block. She opened Alchemy, a fair trade consignment shop representing 145 artists, in early October, leaving her gallery in Silver Springs, Md., behind. “I moved here because of this place – it felt like a community,’’ Smoak said.

Divine Excess Folk Art is definitely one of 12th Street’s catchiest facades. Painted lime and scarlet, the outside of the gallery is marked by a towering live oak that doubles as a repository of Mexican milagros and Mardi Gras beads. Inside, Zoe Von Averkamp showcases top Florida folk and outsider artists, including Missionary Mary Proctor, whose work hangs at the American Visionary Arts Museum in Baltimore. “I love folk art because it’s raw, real, and from the soul,’’ said Von Averkamp, an artist who creates moody shrines and altars from found objects. “I’m here to tell you that you’re never too old or too late to realize your dream.’’

Bradenton (population 53,000) has become the little arts town that could, harnessing existing resources and adding attractions to create a package with plenty of cultural cachet. In a recent Soul of the Community study done by Gallup and the Knight Foundation, Bradenton ranked first as a place whose citizens felt attached to their community and eager to spread the word.

Plans to revitalize downtown, adjust traffic flow, and attract more restaurants and shops are slowly taking root. “You won’t recognize downtown in the next five years,’’ said Rick Fawley, the local architect working on the transformation, which will start with a half-mile pedestrian walkway linking the river walk to the Village of the Arts, called Artisan Avenue. Monthly events like a street and craft fair with live music, an outdoor movie in the park, and the art walk on the first weekend of each month are enthusiastically attended.

“It’s such a friendly place,’’ said Jenny Taylor, who along with her husband, John, and daughter Christina own The Londoner Inn B&B and Tea Rooms, a six-room inn within a few blocks of downtown. After moving from South London, the Taylors first opened a hotel on swanky Longboat Key. “When I had a 5-year-old ask me if we’d be going condo soon, I knew we were in the wrong spot,’’ she said. After a nine-week stint back in England -“We really didn’t fit in there anymore, and it was so cold!’’ – the family returned to Bradenton and bought a dilapidated house in what used to be called the Silk Stocking District. “It was quite posh at one time, before it got run down,’’ she said.

Renovated and outfitted with six spacious rooms, the Londoner is a cheery place for an overnight stay or a spot of tea. Try the coronation chicken salad, the same recipe enjoyed by Queen Elizabeth on her big day.

After staying at the Londoner for three weeks, Winchester native Lyn Di Mambro decided never to leave. “I’m not in the mood for another winter,’’ said the freelance puzzle writer, who went home, packed her stuff, and is renting the carriage house behind the B&B. “I can work anywhere. But this feels like home.’’

What to see

Farmer’s Market Every Saturday from 9 a.m. to 2 p.m. on Old Main Street, the market features local produce, joined by artists selling everything from jewelry to antiques on the third Saturday of the month. Live music. 941-544-8077 South Florida Museum This gem of a museum covers local history, offers a state of the art digital planetarium, and is home to Snooty, the world’s oldest known manatee (he turned 61 last summer). 201 10th St. West, 941-746-4131, www.southfloridamuseum.org

ArtCenter Manatee This vibrant haven for artists for more than 75 years attracts impressive exhibits and fosters local (and visiting) talent in workshops and classes in pottery to jewelry making and watercolor. Nice gift shop. 209 9th St. West, 941-746-2862, www.artcentermanatee.org

Where to shop

Village of the Arts www.villageofthearts.com (Note: Many galleries are open only a few days a week, so call before you visit.)

Hearts Desire Local jewelry designer and graphic artist Vicki Rollo spotlights art to wear, interesting textiles, and her own work. 1221 12th St. West, 941-302-1069, www.heartsdesirefl.com

Alchemy An eclectic mix of 145 artists’ work, from sculpture to oils to painted leather and more. 1215 12th St. West, 941-746-3508, www.artandalchemy2.com

Divine Excess Surprisingly affordable outsider and folk art. 125 12th St. West, 941-747-1320, http://www.villageofthearts.com/show_member.php?id=37

Where to eat

Bonni Bakes Homemade baked goods, wraps, salads, and blintzes served for lunch Tuesday to Saturday, $4-$7.50. 930 12th St., 941-746-6647, bonnibakes.blogspot.com Ristorante Ortygia In a homey bungalow, chef/owner Gaetano Cannata creates authentic Sicilian specialties like sweet red peppers stuffed with provolone, tomatoes, pine nuts, and black currants. If you’re lucky, Joseph Spinella will be singing Italian folk songs and the chef may just break out his harmonica. 1418 13th St. West, 941 741-8646, ortygiarestaurant.com

SOMA Diner SOMA, which stands for South of Manatee, is the latest from chef/owner David Shiplett, who brings chic comfort food to the table, including a killer four-cheese mac and cheese and a parmesan-crusted chicken schnitzel, $5-$22. 616 10th St. East, 941-748-0002

Mattison’s Riverside Just one of local chef Paul Mattison’s eateries, this spot offers river views, live music on the weekends, and a Mediterranean inspired menu that focuses on seafood, lamb, duck, beef, and sushi, $7.95-$29.95. www.mattisons.com, 941-748-8087

What to do

Manatee Players This national award-winning community theater group delivers crowd-pleasing musicals with plenty of spunk. A new playhouse is in the works. 102 12th Street West, 941-748-011, www.manateeplayers.com Around the Bend Nature Tours Naturalist Karen Fraley and her guides offer interactive and interpretive outdoor adventures in places like the 487-acre Robinson Preserve, with its nest of federally protected bald eagles, and Emerson Point Park, a birders’ paradise and home to the largest remaining Native American temple mound on Tampa Bay. Fun activities for groups, families. 941-794-8773, www.aroundbend.com

Manatee Segway Tours This is a fun way to see Bradenton, gliding along the River Walk past the South Florida Museum and onto Old Main Street, or on tour in Village of the Arts. Pick up at your hotel, $35-$45. 941-224-8079, www.manateesegwaytours.com

Horse Surfing Great World Nature Tours offers horseback riding in the sand and water, a gentle experience of riding bareback and swimming in balmy Palma Sola Bay outside Bradenton. www.beachhorses.com

Where to stay

Courtyard Marriott Newly renovated business hotel includes 153 rooms, pool, and onsite bistro/bar with a riverside address, from $149. 100 Riverfront St., 941-747-3727, www.marriott.com/srqbdThe Londoner Inn B&B Stylish B&B geared to Anglophiles and creatures of comfort. Airy, comfy rooms, full English breakfast, and optional afternoon tea. 304 15th St. West, 941-748-5658, from $120 per night. www.thelondonerinn.com

The Londoner Inn B&B Stylish B&B geared to Anglophiles and creatures of comfort. Airy, comfy rooms, full English breakfast, and optional afternoon tea. 304 15th St. West, 941-748-5658, from $120 per night. www.thelondonerinn.com

Taste of Manatee 2009

bea — Thu, 05 Nov 2009 13:14:15 +0000

The weekend includes one of the area’s most popular events, the 23rd Annual Taste of Manatee from 11-10 p.m. Saturday and 11-7 p.m. Sunday. The ‘Taste’ is a two-day celebration along Bradenton’s beautiful, downtown riverfront. Six live bands are scheduled to perform and dozens of vendors from local restaurants will pack Barcarrota Boulevard. More Information:
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Bradenton utility contacts

axel — Fri, 14 Aug 2009 14:55:48 +0000

Utility contacts for the City of Bradenton:

Water / Waste / Sewer:
City of Bradenton
www.cityofbradenton.com
Ph.: (941) 932-9434

Power:
FPL
www.fpl.com

Cable / Phone / Internet:
Brighthouse Networks
tampabay.mybrighthouse.com

Verizon / Verizon FIOS:
www.verizon.com

Property taxes:
www.taxcollector.com

Homestead exemption:
www.manateepao.com

Utility contacts for unincorporated areas in Manatee County:

Water / Waste / Sewer:
Manatee County Uilities
www.mymanatee.org
Ph.: (941) 932-9434

Power:
FPL
www.fpl.com

Cable / Phone / Internet:
Brighthouse Networks
tampabay.mybrighthouse.com

Verizon / Verizon FIOS:
www.verizon.com

Please use this information for City of Anna Maria, City of Holmes Beach and City of Bradenton Beach.

For the Town of Longboat Key please check here: Town of Longboat Key Utilities

For more information on Florida Real Estate and for buying and selling homes in the Bradenton / Sarasota area, please visit our website www.weissinternational.com

Weiss International Realty
P.O. Box 14222
Bradenton, Florida USA 34205
U.S.A.

SHIP funds to help homebuyers

bea — Fri, 03 Jul 2009 16:12:33 +0000

The City of Bradenton Housing and Community Development Division has about $130,000 available to help residents make down payments on houses if they qualify.

The funds are part of the $482,236 in State Housing Initiatives Partnership (SHIP) funding from the Florida Housing Finance Corporation that the City received for the 2008-09 program year.

To qualify, the applicant must be earning up to 80% of the Area Median Income but the maximum annual income must not exceed the following limits:

Family size

1 Person/$34,900
2 Persons/$39,900
3 Persons/$44,850
4 Persons/$49,850
5 Persons/$53,850
6 Persons/$57,850
7 Persons/$61,800
8 Persons/$65,800

The City will accept applications for the housing rehabilitation assistance program from Aug. 3-13.

Applicants must complete a first-time homebuyer’s class and be approved for a mortgage prior to applying. Applications submitted after the deadline will not be considered. Down payment assistance will be awarded on a first-come, first-ready basis to persons owning homes within the City limits.

Source: www.cityofbradenton.com