Downtown condo rentals in St Petersburg, Florida have now reached a supply of 8 months, ranging from a 4 month supply of 1 bedroom units to an 8 month supply of 3 bedroom units. Rents (asking prices) range from $950/month for a 600 sq ft unit to $8,000/month for a 2,700 sq ft unit (yes, that's high - you can rent some that size for half the price). More owners are offering their condos for rent because they haven't sold. The downward pressure on home prices has spread into the rental market. Investors - if you're looking for positive cash flow, this isn't the time or place for it. Most downtown St Pete condos are offered for rent annually, and most are unfurnished.
What a surprise when Clayton Wilcox's photo and news of his resignation as Pinellas County Schools superintendent was on the front page of this morning's St Pete Times. I'm happy for him, but sad for Pinellas County. He had 3 more years to go in his contract - but was offered what he describes as the opportunity of a lifetime. He'd been forthright and to the point, and often controversial - he's blogged to the public and let them question and comment. It hasn't been easy for him, with the divisive school board and the board attorney, and the newspaper second guessing.
The school board says it will be easy to replace him. Not to diminish at all the administrators he's put in line under him (the signs of a good leader) but I wonder how many will have not just vision and dedication, but transparency and guts. A real leader needs guts, and the courage of his/her convictions. What Pinellas County does NOT need is a Yes man. I hope the replacement chosen is a true leader.
Bon Voyage, Clayton! Thank you for your years here and for your contributions. Best wishes in your new position, and may you truly influence literacy on a national scale.
We're seeing positive motion in the real estate market here in St Petersburg, Florida - and so are most of our colleagues. No big steps - but steps uphill.
More showings on our listings, more offers, more contracts. Many days Rob, Tami and I are all out showing properties.
Often when we call to set up appointments we hear that the property has just gone under contract, or that there is an offer on the table. That's good news.
Even our local - generally overly pessimistic - real estate reporter had a somewhat positive article in the paper today.
Remember - you won't know it's the bottom, until it's no longer the bottom and the market is on the way back up.
It's so interesting to watch Signature Place as it goes up. It's now high enough that you see if from all over downtown St Petersburg.
When I get out of my car in the office parking lot, now Signature Place is part of the skyline.
When I'm showing condos in Bayfront Tower, there is Signature Place outside the window.
When I'm over at the airport or down at Mahaffey Thearer, there's Signature place, marking the sky.
We can now see the slim proportions of the building (see McNulty Lofts to the right of Signature? Very few views are blocked, compared to the total block that would have come from a typical box structure.
Every tower condo has a water view - that's pretty amazing in a building with several condos on each floor.
I can't wait to see the beautiful gardens around the pool area, and the waterfall, and ....
Word is that the west lofts won't open this year - occupancy will need to wait for the tower and the amenities to be completed, which is scheduled for Spring 2009.

When you take a waterfront photo from a house, or even the dock, you have limited vision - you get the view, of course, but not the perspective of where everything is.
This photo shows the short distance from the property out to Boca Ciega Bay, and it shows the jog at the end of the canal, offering more protection in bad weather or a hurricane - it also seems to increase the breeze compared to a straight canal.
You can also see across St Pete Beach to the Gulf of Mexico. Overall, this shows you that it's truly a waterfront lifestyle if you live here, in the Broadwater neighborhood of St Petersburg.
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