Tag Archives: Florida amendment 1

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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