Real Estate Advise By Jim Beggins, Broker
The main value of a trusted real estate advisor is to gather and transmit knowledge to people to help satisfy their personal goal and desires for life betterment.
My goal is to share beach relevant info, as I see it, to help people evaluate selling or buying options. That’s what I attempt to do each week on my REAL BEACH TALKS broadcast live on https://www.facebook.com/jim.beggins as well as every month in my Paradise News “Property Wizard” real estate article. As a Florida broker through 4 past recessions, I see that a fifth is imminent. I also feel that our beaches properties will weather the upcoming storm (no pun intended) better than non-resort areas.
This economic downturn will provide some incredible returns for vigilant barrier island property owners. I’ll share them with you in months to come. Existing properties are staying on the market longer, with price reductions increasing. Inventory is getting bigger. Illegal rentals are easy to find with cities enforcing their ordinances more frequently. If you own or buy in a beach community with LEGAL short-term rentals, they often get income for 1 week what other properties get for a month. Island land is worth more, appreciates faster and can be a much better investment than in-land properties. Example; a 50×100 ft. lot inland valued at $20,000 is worth $200,000 on a non-waterfront island lot, $400,000 on a canal lot and $1,500,000 on a Gulf front lot. New elevated homes start at about $200 per sq. ft., air-conditioned space without the lot. These are basic rules of thumb figures with many variables.
Property Wizard’s 7 core real estate beliefs. Stick with these beliefs and real estate will work for you.
- A real estate agent’s main value is her/his ability to gather and transmit real estate knowledge to clients. Pick one who knows your local area.
- Good real estate held long enough always increases in value.
- No real estate in Florida has higher overall value than Pinellas barrier island real estate.
- The laws of supply and demand always govern real estate values.
- Only buy stuff that you know about.
- Only sell real estate when you have a better use for the money.
- Since no one knows the top or bottom of the market…forget about buying or selling there.
If you are confused or concerned about your real estate options, speak to your trusted advisor who gave you this article or contact me directly. If you want to keep getting these articles focusing on beach properties, without killing trees, send your email address. If you want to consider new construction on your lot with up to 100% financing, go to beachlifeprop.com. We offer 225 mph wind tested, green, energy efficient, galvanized steel homes, built exclusively on our Pinellas barrier islands. See more on nexgenframing.com .
All the best, Jim “Property Wizard” Beggins, Broker, CENTURY 21 Beggins Enterprises, with 10 offices and 400 agents, serving Pinellas, Hillsborough, Manatee and Sarasota counties. Since most opinions about real estate can be supported with facts, use my “hands on” experience in Florida real estate since 1972 to unconfuse your facts. Call, text or email me with any beach questions. jimbeggins@c21be.com , cell 727 254 8144.