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Sand Key Florida - Join Fun at First Annual Spring Fest at Shoppes of Sand Key.

April 16th, 2010 Categories: Community News, Sand Key Florida

Sand Key Florida Spring Fest - Clearwater Beach  

Clearwater Fl - Calling all Sand Key Florida homeowners and neighbors - What are you doing tomorrow, April 17th 2010? This weekend you’ll find more than amazing beaches in one of Clearwater’s best waterfront neighborhoods…

Check out all the fun things to do at the First Annual Sand Key SpringFest. It is being called the “biggest Block Party this island has ever seen” and is being put on by the Sand Key Civic Association.

Where: It will be held at the Shoppes of Sand Key.

When: Saturday April 17th, Noon to 7pm

IMG_0416They will have a big tent and all the activities are starting at noon. They will have live entertainment, food, refreshments and special entertainment from Al “Coffee” McDaniels who is a well known blues musician.

If you are worried about finding parking on Sand Key Clearwater Beach on a spring Saturday - don’t be! The Sand Key Civic Association has arranged to have FREE transportation from the Jolley Trolley and it will be making a constant look up and down Sand Key on Saturday - from the Marina to the Park. You can take advantage of the FREE trolley rides from noon until 7pm.     

Thanks to Larry and his Sand Key blog for helping to get the word out. Also be sure if you go to stop by Backwaters and tell Larry “Hi”.       

Other Sand Key Articles:

FLorida Luxury Real Estate | All Sand Key Condos on the Gulf of Mexico Beach


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And if you’ve got any Sand Key real estate questions, just give us, your local Clearwater Beach Realtors a call. Clearwater Fl homes search mls buttonWe’d like you to know that we are passionate about being your Clearwater Beach real estate advocate. We’re committed to delivering Results daily based on Integrity, Knowledge & Experience - helping you find the perfect Sand Key Condos for sale.Call us todayWe’d like to be YOUR Clearwater Beach FL Real Estate Team!

Call Cyndee @ 727.710.8035 or Jack @ 727710.8036 

Warmly,
Cyndee and Jack Haydon
Charles Rutenberg Realty

Clearwater FL Real Estate Office
1545 S. Belcher Rd
Clearwater Florida 33764 
727-710-8035 (Cyndee’s cell)
727-710-8036 (Jack’s cell)

Posted by Cyndee Haydon | Currently No Comments »

Clearwater Beach Florida Condos | Buyers and Sellers Hurt by Jumbo Loans

April 12th, 2009 Categories: Clearwater Beach Florida, Clearwater Florida, Condos for Sale, Sand Key Florida, Tampa Mortgages

Clearwater Beach Florida - As most of our readers know we work hard to get great deals for our Clearwater Beach condo buyers unfortunately there are some great buys on luxury condos in Clearwater however one of the major roadblocks  interested buyers encounter is the fact that in the Clearwater Beach Florida / Sand Key Florida area the allowable Fannie Mae loan limit for conventional loans is only $417,000 with at least 20% down.

Clearwater beach florida condos Sandpearl ResidencesNow I would agree that in most areas of Clearwater real estate - this would be plenty, however, when you consider we’re home to some of the best beaches in the United States, it’s not nearly enough if you want to buy a typical beach condo and are looking for a reasonable loan.

Even if you were planning on buying a condo and putting 20% to 25% down it’s a problem because most Clearwater Beach Florida oceanfront 3 bedroom condominiums are still selling from $800,000 to well over $1 million dollars even in today’s real estate market.

Related article: 

Clearwater Beach FL Jumbo Borrowers Squeezed and so are Sellers

So what does this mean for the Sellers with Clearwater beach condos they are looking to sell?

In my experience…

1) Clearwater Beach low conventional loan limits are causing a lot of mortgage pressure to purchase properties for $520,000 (or less)  give or take so a buyer can buy a condo with a loan of less than $417,000.

2) Clearwater Jumbo rates (and terms) further limits the number of ready and willing buyers in this “jumbo” price point - so with less willing and able buyers there is again more pressure on sellers to make a deal with the remaining buyers - and we’re seeing cash is king. Our last two beach condo buyers paid cash for their gulf beachfront condos.

What’s hard to believe is we are currently working with many buyers who are the best clients a mortgage lender could want (excellent credit, no debt, no issue with income qualifications) and yet they are not willing to buy a second home / vacation home under the recent terms one National bank / lender gave … For Jumbo loans on beach condo purchases needing a loan over $417K but under 1 million they didn’t even offer a fixed rate loan only a 5/1 ARM at  5.75% with a 1% point so basically when conventional home buyers are getting mortgage rates under 5% - some of the best possible borrowers are being asked to pay a premium of almost 7% and up.

When I asked “why?”,  the banks told me that it’s because “Jumbo Loans” are currently the highest loans in default. Unfortunately, those I see in preforeclosure  and foreclosure on the beaches now are very different than the potential buyers we are seeing. We all know lending had loose guidelines back a few years and many real estate buyers got in way over their heads - these are not the buyers we are working with today.

77% Pending Sales of Clearwater Beach Condos and Sand Key Condos are NOT Jumbos

There are currently 22 Clearwater condos under contract and pending sale in the Tampa Bay MLS - of that 17 of them has a listed purchase price of under $420,000, 4 are in the $600K’s and one is pending at $849,000 (all of which could be lower on closing - we don’t know the negotiated purchase price at this point). It’s not surprising that it was recently reported that 50% of all real estate sales in Florida this year have been cash transactions.

In our experience, today’s Tampa mortgage rates for Jumbo Loans have caused several of our clients to scale back their Clearwater beach condo purchases and others have postponed them while they free up additional funds to make up the difference in purchase price and “conforming loans”.  We’ve seen several people who planned on buying beachfront condos for @$800,000 and now have scaled back $200-300K to qualify for the conforming loan rates and terms.

So if you are a seller on Clearwater Beach Florida today (or Sand Key, Island Estates and our Gulf beaches) the best thing that can happen for you right now is that Banks get bank into the Jumbo loan market and begin to offer more attractive Jumbo Loan rates and terms for these willing Clearwater Beach buyers. With rates where they are - if Jumbo’s loosen up many of our buyers tell us they would prefer a larger more expensive condo if there aren’t punitive lending terms for them.

Well there was some good news this week….

Clearwater Beach Real Estate gets some good Jumbo Loan news

Today I read an article that stated “that the hard-to-find jumbo loan may be making a comeback.  Bank of America is among the major banks rolling out jumbo mortgage programs and holding the loans in their own portfolios.

It will offer loans from $730,000 to $1.5 million with 30-year fixed rates under 6 percent; but borrowers must make a 20-percent downpayment, have good credit, provide proof of income, and hold six months’ of principal, interest, property tax and insurance payments in reserve.”

I know we are constantly working with  local bankers who offer in-house “portfolio loans” - we can only hope that other banks, both local and national, will follow Bank of America lead in the Jumbo loan market.  If you have questions and need a good local banker, give us a call and we can introduce you to several good lenders and we will continue to keep you posted on what’s happening on our beaches.

Clearwater Beach Real Estate - Selling or Buying - Waterfront Condos or Homes - We Can Help!

Clearwater beach florida condos for saleIf you’ve been thinking about buying or selling a waterfront or oceanfront beach condo or house in the Clearwater St Peterburg Tampa Bay area…

Call Us Today at (727) 710-8036 to hear more about how we can help you!

Contact us for a FREE quote and to find out your Tampa Mortgage options and you can search all Tampa St Petersburg and Clearwater condos for sale right now..

Copyright © 2007-2009 Jack and Cyndee Haydon, Clearwater REALTORS and specializing in Clearwater Florida, Clearwater Beach Florida, and Pinellas County Waterfront homes and condos. Information is deemed reliable however it is not guaranteed and subject to change at any time.

Posted by Cyndee Haydon | Currently 11 Comments »

Clearwater Condos on Sand Key Florida - Inside Dans Island Condominiums 33767

October 21st, 2008 Categories: Clearwater Beach Florida, Condos for Sale, Sand Key Florida

Dans Island Condos - Insiders Guide to Best Clearwater Condos

Clearwater Beach Florida - Dans Island is the first condominiums community you see as you enter Sand Key Florida from Belleair Beach is one of the best finds when looking for Clearwater Beach real estate right on the sandy white beaches of the Gulf of Mexico.

Dan’s Island Condos

Dan’s Island Condos in Clearwater are made up of 2 unique stucco block condo buildings with interesting views from several balconies in each unit (Dans Island I condos and Dans Island II condos), each 12 stories high with 85 and 86 condominiums respectively.

Dans Island is named after Sand Keys original settler and part of Sand Key and Clearwater’s history. In the photo here you can see a sample of the amazing view from one of the balconies of the white sandy beach of Sand Key Florida - Does it get any more private than this?

Feel free to read more about Dans Island Condos and their connection to Sand Keys history, the bargains recently found and more. In this article I wanted to provide many of the facts and figures Clearwater Beach Real Estate buyers ask me for, especially when we help so many people from out of the Clearwater Florida area.

Dans Island Condos | Community Features

Dans Island Condos | Interior Features

Inside and View from Dan’s Island Condos on Sand Key Florida

2 bedroom units 1670 to 1960 Sq. Ft

3 bedroom units 1970 to 2063 Sq. Ft

Clearwater Beach Real Estate - Dans Island Condos - Models

Dans Island I condos

Dans Island II condos

Dans Island Maintenance Fees include:

Related Article:

If you are looking to sell your Sand Key condo and feel free to call us at (727) 710-8036 to request for your complimentary Clearwater beach real estate market analysis on your specific property - in this dynamic market its changing day to day. Looking for accurate info and no pressure to make informed decisions then youll appreciate the way we work.

If you want to see all the Clearwater Beach condos for sale in the Clearwater MLS!

Cyndee Haydon, Clearwater REALTORs Charles Rutenberg Realty, 1545 S Belcher Road Clearwater FL 33764

(727) 710-8036

All Information deemed reliable but not guaranteed.

Posted by Cyndee Haydon | Currently 4 Comments »

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