Market Overview

Anna Maria Island Toughens Up on Builds, Rentals Reports Sarasota Bay Real Estate

Rental property investors seriously considering purchase options in the popular Anna Maria Island in Manatee County, Florida, would be well-advised to add several alternative choices among other Bradenton–Sarasota homes for sale, Sarasota Bay Real Estate said. This is so because residents of this one-square-mile island, particularly those at its northernmost communities, are up in arms against the proliferation multi-story residential properties used for short-term rentals.

Anna Maria, FL (PRWEB) February 12, 2013

Rental property investors seriously considering purchase options in the popular Anna Maria Island in Manatee County, Florida, would be well-advised to add several alternative choices among other Bradenton–Sarasota homes for sale, Sarasota Bay Real Estate said. This is so because residents of this one-square-mile island, particularly those at its northernmost communities, are up in arms against the proliferation multi-story residential properties used for short-term rentals.

These residents are worried that the growing number of big rental homes in the island threatens to erase the quaint character of Anna Maria which is the primary attraction for renters in the first places. One city commissioner, Chuck Webb, was even quoted as saying that these rental “megahouses” are destructive to the quality of life of the residents, pointing out that the island's comprehensive plan emphasizes that Anna Maria is a residential community.

A moratorium on building any residence over 27 feet tall has already been adopted to address the concern of the Ana Maria residents. Earlier, Bradenton's city commissioners voted to limit rentals in the island to leases of over thirty days. However, this limitation was later revoked and the moratorium imposed instead, because of the possibility of lawsuits from property owners who already have bookings and collected deposits for rentals shorter than thirty days.

Homes for sale On Anna Maria Island

While purchase interest on rental properties can be stymied by the uproar of the Anna Maria residents, Sarasota Bay Real Estate said that prospective buyers seeking vacation residences or second homes for their exclusive use will find the choices more hospitable in the island. The inventory of available residences at Anna Maria is substantially higher than months' supply of Bradenton or Sarasota homes for sale, the full service realty firm noted. As of December 2012, home inventory on the island was estimated at 14.6 months supply, an increase of 17.1 percent from the previous month.

This gain is in marked contrast to the inventory declines in Bradenton and Sarasota where the available homes in the market have been trending around the five months supply as of late last year. The increased availability of homes in Anna Maria likewise indicates that rising market prices have become attractive to prospective home sellers in the island, Sarasota Bay Real Estate said. The average price of Anna Maria homes sold in December last year was estimated at $523,550, up 17.1 percent from the previous month and 32.1 percent higher than the median price a year earlier.

Potential buyers of Anna Maria residences can find options on upscale alternatives toward Holmes Beach south of the island. The less costly choices are typically those at the island's northernmost section where the community has a more casual air. A two-bedroom, 646-square-foot cottage in this neighborhood is currently featured in the MLS of Bradenton-Sarasota homes for sale with a tag price of $369,000. There are several new listings in this area too with bigger floor spaces of 1,100 and 2,880 square feet with two bedrooms, with asking prices in the mid-$400s up to near the $1.5 million level.

About Sarasota Bay Real Estate

Sarasota Bay Real Estate is a full service real estate brokerage in Sarasota Florida owned by Sarasota real estate broker, Christina Miller, and marketing professional, Roy Hunter. Together they, and their team of well-experienced agents, provide the best-in-class real estate marketing services for the properties in the company's inventory.

Sarasota Bay Real Estate Internet assets receive more than 1,000 visits from perspective home buyers a day due to the wealth of local community information published by the company. Through a direct feed from the Sarasota MLS, Sarasota Bay Real Estate publishes the most current real estate information on the Internet for the Sarasota, Florida, market.

Contact information for Sarasota Bay Real Estate can be found at SarasotaBayRealEstate.com

For the original version on PRWeb visit: http://www.prweb.com/releases/prwebanna-maria-real-estate/market-trends/prweb10424237.htm

 

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