Wednesday, September 19, 2018
Real Estate

Waterfront homes in Tampa Bay cost nearly 40 percent more

Waterfront homes in the Tampa Bay area sell for 39 percent more than homes not on the water, a new analysis shows.

Despite that hefty premium, however, waterfront prices in the bay area and many other parts of the country aren’t quite as special as they used to be.

Nationally, homes along the water — including lakes and rivers — sold for a 36 percent premium in the first three months of this year, Zillow found. That was the lowest level since the second quarter of 2002 and below the average premium of 41 percent since 1996.

MORE: Go here for more Business News

In Tampa Bay, 3.3 percent of all homes are waterfront, defined as those where the owners can get to the water’s edge without leaving their property. Among major areas only Miami-Fort Lauderdale has more homes on the water at 5.86 percent.

Tampa Bay’s relative abundance of waterfront homes keeps values comparatively low. Waterfront homes in 13 of the 35 major metro areas surveyed by Zillow are worth more than those in the bay area, with Los Angeles leading the pack at just over $2 million.

Jacksonville had the highest premium for waterfront living (72 percent) of any U.S. metro area and the highest median price ($633,700) in Florida. That is because fewer than 1 percent of Jacksonville homes are on the water.

Nationally, the low supply of available homes is narrowing the price gap between waterfront and non-waterfront properties.

"Still, having waterfront access is incredibly appealing for many buyers,’’ said Aaron Terrazas, Zillow’s senior economist. "Even as environmental risk factors like rising sea levels and storm surges gain more attention and make some buyers more cautious in the homes they consider, the premium for waterfront homes is likely to endure."

Comments
Valet parking? A concierge? Midtown Tampa outlines plans for an amenity-rich office building

Valet parking? A concierge? Midtown Tampa outlines plans for an amenity-rich office building

TAMPA — A sudden boomlet in premium office space is getting boomier as developers detail their plans for the first of three office buildings planned at Midtown Tampa, a $500 million mixed-use development near Interstate 275 and N Dale Mabry Highway.M...
Updated: 12 hours ago
Home refinancings up dramatically in the Tampa Bay area

Home refinancings up dramatically in the Tampa Bay area

Counter to the national trend, refinancings in the Tampa Bay area increased in the second quarter of this year. According to ATTOM Data Solutions, lenders originated 41 percent more refinancing loans in April, May and June than they did in the same p...
Updated: 12 hours ago
‘Something fishy’ about sale of a golf-course villa in Seminole

‘Something fishy’ about sale of a golf-course villa in Seminole

SEMINOLE — There were so many unusual aspects to the sale of a certain Seminole villa that it’s hard to know where to begin. Is it with the fact the villa sold for $100,000 despite a cash offer of $128,700? Is it that the buyer was a Realtor in the s...
Published: 09/19/18
‘Imminent’ bankruptcy filing for law firm of suspended St . Pete lawyer Mark Stopa

‘Imminent’ bankruptcy filing for law firm of suspended St . Pete lawyer Mark Stopa

The law firm of suspended St. Petersburg attorney Mark Stopa is in such chaos that much of its staff has quit — some after suffering stress-related breakdowns — and a liquidation bankruptcy filing is imminent.In an emergency motion filed this week in...
Published: 09/19/18
St. Pete condo of Weight Watchers’ Mindy Grossman hits market at nearly $4-million

St. Pete condo of Weight Watchers’ Mindy Grossman hits market at nearly $4-million

ST. PETERSBURG — Mindy Grossman, the former HSN chief who now heads Weight Watchers International, has put her Beach Drive condo on the market at the hefty price of $3.95 million.The three-bedroom, three-and 1/2 bath unit on the 24th floor of Ovation...
Published: 09/17/18
Updated: 09/18/18
This $4.25 million bank-owned estate is the biggest waterfront property for sale in Tampa Bay

This $4.25 million bank-owned estate is the biggest waterfront property for sale in Tampa Bay

ST, PETERSBURG — For years it was Tampa Bay’s classiest party house, a spectacular waterfront estate that hosted many an event for charity. Now, it is the bay area’s priciest foreclosure for sale. U.S. Bank recently took back the mansion in St. Peter...
Published: 09/14/18
Florida, Tampa Bay rank high in risk of mortgage fraud

Florida, Tampa Bay rank high in risk of mortgage fraud

New York, New Jersey and Florida remain the top three states for the risk of mortgage fraud as fraud on mortgage applications ticks up nationally.One in 109 applications contained fraud in the second quarter of this year compared to one in 122 in the...
Published: 09/13/18
Townhomes are planned in St. Petersburg for the site of 1905 Victorian house

Townhomes are planned in St. Petersburg for the site of 1905 Victorian house

ST. PETERSBURG — Eight townhomes are planned for the site of a 1905 house thought to have been connected to early African-American leader Elder Jordan.A project of J2 Developers, the St. James Townhomes at 758 Third Ave. S each will have three bedroo...
Published: 09/13/18
New residential loans plunge in the Tampa Bay area

New residential loans plunge in the Tampa Bay area

Rising mortgage rates contributed to a sharp decline in residential loans originated in the Tampa Bay area in the second quarter of this year. According to the real estate database ATTOM Data Solutions, loans secured by residential property dropped 1...
Published: 09/12/18
A fresh take on what Tampa’s 50-story-plus Riverwalk Place will look like

A fresh take on what Tampa’s 50-story-plus Riverwalk Place will look like

TAMPA — Weeks before the sales center is due to open, potential buyers already are placing reservations on condos in Riverwalk Place. "The pace has been awfully good, better than we expected," said Reid Boren, managing partner of Two Roads Developmen...
Published: 09/10/18
Updated: 09/11/18