Tag Archives: rental

Is the Sun About to Shine on Island Real Estate?

It has been a difficult few years for anyone wanting to sell a home on Anna Maria Island. Having been part of Florida’s spectacular growth, prices on island homes had risen tremendously since the 1990’s, and therefore were subject to the same kind of fall that all popular markets experienced starting a little over three years ago. But at least there always is something about a beautiful island that sets its properties apart from the larger inventories on the mainland. There is only a finite number of island homes, and people will always want to live on an island. So there is reason to believe properties on Anna Maria will be in demand again sooner than the general market.

Island Real Estate sunshine

The question is whether the nation is beginning to see a general upturn in housing sales and prices yet. There have been articles in highly regarded publications, such as the Wall Street Journal, indicating this may be the case. In a recent article in the Anna Maria Island Sun, Louise Bolger points out that Maureen Maitland, vice president for index services at Standard & Poor’s, has speculated that we may look back on April, 2009, as the trough in home prices.

Speaking of speculation, that would mean this could be a very good time to buy an investment home in Anna Maria Island … if you can afford the high property taxes. At least there is the possibility of covering some of those taxes and carrying costs through rental. And rumor has it that if the house has a swimming pool, it is much easier to rent. Of course this all is speculation, and speculation is largely responsible for the bubble and its bursting that put the market where it is today.

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Offering Homestead Bed and Breakfast

Sometimes at this time of year, the residents of Anna Maria Island begin to feel as if they are operating bed and breakfasts. One set of guests leaves and there is barely time to wash and dry the sheets before the next visitors arrive. It is no wonder friends and family from up North want to visit paradise at this time of year but, while the guests are reveling in paradise, their hosts can start to feel as if it’s “paradise lost.” A constant stream of even the most considerate visitors can hinder residents from focusing on their own favorite island activities. Before they know it, the best season is over and it’s time to turn on the air conditioning and retreat inside.

There are many ways to cope with living in a place everyone else wants to visit. One Islander, formerly of Chicago, sent a card to all his friends when he moved here, announcing that they were welcomed to visit in Anna Maria Island, but only if they had previously visited him in Chicago. This was the acid test to prove that the guests were not just using the friendship as an excuse to have free accommodations in paradise. If they really were visiting for reasons of friendship, they would have visited in Chicago, too.

Homestead bed and breakfast Another way to cope with having too much company is to not have a guest room. Silly as this may sound, it seems to be a possibility that many islanders have seriously considered. They talk openly about it. In fact, in early years, when researching accommodations for guests at the island information center, I explained to the sweet ladies working there that I had no extra room for guests, but that we were planning to build an addition for this purpose. I was surprised to be sternly advised by one of the ladies not to add a room for guests, or I’d be sorry. Maybe she was just trying to promote more business for the island hotels and motels. But I had the feeling she was giving me a sincere warning.

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