๐ฎ Pinellas Park Transformation, Tropicana Field Plans, & Best Week to Sell in 2024
Mark Fazzini
Meet Cynthia Fazzini - Ranked #2 Team with Re/Max Realtec, #30 for Team Commissions earned in Florida and #50 in the Country with Re/Max for 2023!&nbs...
Meet Cynthia Fazzini - Ranked #2 Team with Re/Max Realtec, #30 for Team Commissions earned in Florida and #50 in the Country with Re/Max for 2023!&nbs...
๐ก Townhome Community Coming
to Pinellas Park
Driving the news: Lennar is bringing a new townhome community called Townes at Bayou Heights to Pinellas Park, Florida.
Lennar's "Everything's Included" program offers popular upgrades and features at the base price of the home, making the townhomes more attractive to potential buyers by including quartz countertops, ceramic tile, and stainless steel appliances.
Details: The gated enclave will feature 32 townhomes ranging from 1,801 to 2,466 square feet, with three- and four-bedroom floor plans and two-and-a-half baths.
Each two-story townhome will have a two-car garage and modern amenities, with pricing starting in the mid-$400,000s.
Lennar's "Everything's Included" program offers popular upgrades and features at the base price of the home, making the townhomes more attractive to potential buyers by including quartz countertops, ceramic tile, and stainless steel appliances.
Why it matters: The new development offers an opportunity for homebuyers to experience urban living while being close to parks and beaches, catering to active outdoor enthusiasts in the Tampa Bay area.
What's next: The Townes at Bayou Heights is being sold by appointment only, with the community being built adjacent to the Helen S. Howarth Community Park, which offers a variety of recreational amenities.
The bottom line: Lennar's new townhome development in Pinellas Park offers a unique opportunity for homebuyers seeking the Florida lifestyle.
๐ฅ Inside an INCREDIBLE $2M Large Pool Home in Pinellas County Florida
๐๏ธ As St. Pete's Economy Booms, Leaders Look Ahead to Tropicana Field Redevelopment
Driving the news: St. Petersburg leaders say the city's thriving economy is ready for the multi-generational redevelopment of the Historic Gas Plant District, currently known as Tropicana Field.
Details: The Tampa Bay Rays and Houston-based developer Hines have proposed a massive mixed-use project for the 86-acre site, which will soon go before city council and Pinellas County commissioners for approval.
The project includes multifamily housing, office space, retail, and event venues.
Why it matters: City officials emphasize that the Historic Gas Plant redevelopment represents the most significant economic opportunity in the city's lifetime.
The big picture: St. Petersburg has experienced rapid growth in recent years. Since 2020, the city has accounted for 48% of Pinellas County's total population growth.
In 2023, the total construction value in St. Pete reached $1.3 billion, with over 33,000 permits issued.
By the numbers: Downtown St. Pete is home to 11,011 housing units, with an additional 1,645 units currently under construction and 1,370 units planned.
The city has set goals to create and preserve 3,200 multifamily homes, 400 accessory dwelling units, and 150 affordable single-family homes by the year 2030.
Regarding office space, there is an 11% vacancy rate for Class A office spaces citywide, where rents average $27.62 per square foot.
In contrast, downtown has a lower vacancy rate of 4.9%, with higher rents averaging $31.65 per square foot.
Between the lines: The Rays have called on St. Pete business leaders to support the team's quest for public funding for a new ballpark.
Cathie Wood, CEO of Ark Invest, expressed her company's support for the development and the team's vision.
What's next: The Rays and Hines' plan will soon be presented to city council and Pinellas County commissioners for approval.
If approved, the project will move forward, transforming the Historic Gas Plant District.
The bottom line: As St. Petersburg continues to grow and thrive, the redevelopment of Tropicana Field represents a crucial opportunity to shape the city's future and create a lasting source of pride for the community.
๐ The Best Week of 2024 to Sell a Home, According to Realtor.com
Driving the news: Realtor.com has released a new report identifying April 14-20 as the best week to sell a home in 2024, based on their market analysis and projections of housing market conditions.
Details: According to the report, listing a home during the week of April 14-20 will provide sellers with the most favorable mix of market conditions, including above-average listing prices, higher buyer demand, faster sales pace, reduced odds of price cuts, and less competition from other sellers.
Why it matters: Homeowners who list their properties during this specific week could potentially net an extra $34,000 on the sale of their home compared to listing earlier in the year.
With a majority of sellers (53%) taking about one month to prepare their homes for listing, now is the time to start making those preparations.
The big picture: Spring is generally considered the peak season for home sales, with buyers being more abundant earlier in the year.
However, the best time to sell can vary significantly from one market to another.
Between the lines: While some buyers may be waiting for mortgage rates to drop further before purchasing a home, the current inventory levels are nearly 40% below pre-pandemic levels, indicating a need for more options for existing buyers.
This suggests that it is still a favorable time for homeowners to sell their properties.
What's next: Homeowners planning to take advantage of seasonal trends to maximize their sale price should begin preparing now to list their homes during the week of April 14-20.
This will allow them to benefit from the ideal mix of market conditions projected.
The bottom line: The report provides valuable insights for homeowners considering selling their properties in 2024.
By carefully timing their listing to coincide with the most favorable market conditions, sellers may be able to achieve a higher sale price and a smoother transaction process.
๐ Our Current Local Market Numbers
The Pinellas and Tampa Bay markets are heating up as we get closer to spring.
If you are looking to buy or sell a home in the next few months, you'll need a strong strategy to navigate the nuances of this market.
I'm happy to help you create a plan that will allow you to succeed in the current market.
If you ever have questions, donโt hesitate to ask.
๐ Find Available Homes Today
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๐ฐ In Other News:
- Thatโs all for today, We hope you have an amazing week!
๏ปฟ
If thereโs ever anything you need:
- Custom market or home value report.
- Home Services list for a reliable contractor or services professional.
- Feedback or a professional opinion on a home project or other needs of the home.
Just let us know! Weโre here to help with all your home needs.
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Talk soon,