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Vinoy Place Condos - Downtown St Petersburg Florida - Market Update 1-19-2008

The Vinoy Place condominiums in downtown St Petersburg Florida currently has 12 properties on the market, ranging from $749,900 to $2,799,000 No penthouses are currently available. Units with over 2,100 sq ft start at $1,100,000.

During 2007 there were 5 condominium units that sold, ranging from $760,000 to $1,825,000. Again, if you exclude units less than 2,100 sq ft, sale prices started at $1,039,900.

Based on last year's sales, there is a 28.8 month supply on the market.

There are currently two units offered for rent, one at $5,000/mo and the other at $5,200/mo.

Florencia Condo - Downtown St Petersburg - Market Update 1-19-08

The Florencia condo is a luxury building developed by JMC Corporation (Mike Cheezem) at 100 Beach Drive NE. It's across the street from a park and has views of Tampa Bay.

During 2007 there were 3 sales in the building: $1,050,000 $1,250,000 $1,250,000

There is currently one condominium on the market, which is priced at $1,150,000. Based on last year's sales, there is a 4 month supply on the market.

One unit at The Florencia is currently offered for lease at $5,800 per month.

Vinoy Place luxury condominiums St Petersburg Florida Market Update for May 2007

Vinoy Place Luxury Condos St Petersburg FloridaVinoy Place luxury condominiums

downtown St Petersburg, Florida

Vinoy Place consists of four towers and several luxurious townhomes facing the Vinoy Basin and Tampa Bay in downtown St. Petersburg, adjacent to the Renaissance Vinoy Hotel.

There are currently 6 condominium units for sale in Vinoy Place. They range from $799,900 for 1,793 sq ft to $2,799,000 for a 4,326 sq ft townhouse. Prices range from $346 to $693 per sq ft.

One Vinoy Place condo is under contract, which is listed at $1,250,000.

Two Vinoy Place condos have sold in 2007, one with 2,023 sq ft for $760,000 and the other with 3,630 sq ft for $1,825,000.

Sharon Simms, Real Estate Agent selling homes in St. Petersburg, Florida, the Gulf Beaches and the Tampa Bay area.

Multiple offers in a buyer's market?

Yes, indeed, much to the surprise of even local agents. Here in St. Petersburg, Florida. with an absorption rate of 10.5% on single family homes and a 6.2% absorption rate on condos, when a property is priced right, we do still - occasionally - have multiple offers (which again says the most important item in listing a property is pricing it right). When two or more offers are very close in price, it's sometimes the loan to value ratio that makes the difference to the seller. It's also extremely important to have the pre-approval letters at the time of the offer for the sellers and their agent to evaluate - is it actually a pre-qualification letter disguised by the title Pre-Approval? What are the conditions of the approval - is one that they must sell another property? Is the letter from a lender with a reputation for closing on their preapproval letters, or for playing bait and switch at the end? The sellers will be looking for your opinion on the pros and cons of each offer.