The Anna Maria Island Sun Newspaper

Vol. 14 No. 19 - March 5, 2014

REAL ESTATE

The vacation rental dilemma

 

The word vacation conjours up different images to different people. Your image could be sitting peacefully on the beach reading a book listening to the birds grateful for the absence of other noise, or your image may be pina coladas, tequila shots and rock bands into the wee hours. And that, my friend, is the problem we have with vacation rentals in a nutshell.

I have intentionally stayed away from voicing my opinion on the on-going vacation rental controversy on Anna Maria Island, and indeed the entire state of Florida since I am totally conflicted on the topic. On the one hand I am a very strong advocate for the rights of property owners and on the other I have enormous empathy for those homeowners and visitors whose rights are being infringed upon.

Just to catch everyone up on what exactly the debate is about, it started with legislation that was passed in 2011 by the Florida Legislature called HB 883 that forbade local governments from regulating, restricting or prohibiting vacation rentals. This law, which was passed by an overwhelming majority in both the Florida House and Senate, left the door open for vacation property owners to rent their property for any length of time they would like, potentially turning residential properties into hotels.

Now as we all know, this created many party houses on and even off the Island, with an overabundance of parked cars, trash and noise. Many residents, especially those who were older and lived on the Island for decades, decided to move, and many others are certainly considering it.

Naturally, the Florida Legislature heard from so many of their constituents on both sides they were obligated to take another look at the law they passed three years ago. Another law of which lawmakers appeared not to consider the consequences. I think we’re starting to see a pattern.

Currently there are two bills that have been presented for discussion – HB 356 and the Senate’s companion bill SB 356. Since the Florida Legislature convened yesterday, you can expect to hear a lot more discussion regarding the content of these bills.

The bills under consideration would essentially reverse the 2011 law by removing the restriction that prevents local governments from regulating vacation rentals based on their classification or occupancy. Local municipalities of course want the bill reversed so they can regain control of regulations in their own communities. Vacation property owners fear that their property values will be impacted if their local government starts putting on damaging restrictions like 30 day minimum stays.

The outcome of this has much more riding on it than just vacation owners' real estate values. It also involves the local economies of small cities like Bradenton Beach, Holmes Beach and Anna Maria, their restaurants and shops and the entire economy of Florida. The obvious solution is some type of compromise that both local governments and state lawmakers can live with.

Don’t think I’m going to end this with my opinion. I’m as conflicted as I ever was. I just hope that all parties can come up with a solution that will benefit all property owners in the state and keep Anna Maria Island the way it’s always been – a place where everyone can

Real Estate Transactions
Real estate transfers as of October 1-31, 2013
Sponsored by Alan Galletto Island Real Estate

Sold Date | List Price | Sold Price | Address | Provision | Property Style

Anna Maria

12/03/2013 899,000 845,000 796 N Shore Dr 2520 50x100 3 Br/3.5 Ba SFR, Bank Owned
12/09/2013 849,000 800,000 238 Gladiolus St 2202 102x105 3 Br/3.5 Ba SFR
12/09/2013 1,479,000 1,387,000 103 Seagrape Ln 1221 2 Br/1 Ba SFR 12/19/2013 999,000 945,000 308 Palm Ave 1952 72x116 4 Br/4 Ba SFR 12/26/2013 1,195,000 1,050,000 803 Gladiolus St 3290 72x128 5 Br/4.5 Ba SFR 12/19/2013 320,000 290,000 510 N Bay Blvd 50x62 Vac.
12/30/2013 2,690,000 2,090,000 100 Park Ave 112x400 Vac.
12/30/2013 2,690,000 2,125,000 101 Park Ave 106x460 Vac.
12/30/2013 2,690,000 2,125,000 100 Beach Ave 106x498 Vac.

Bradenton Beach

12/10/2013 149,000 140,000 1603 Gulf N Dr # 30 380 1 Br/1 Ba Condo
12/17/2013 187,900 177,000 1801 Gulf N Dr # 256 691 1 Br/1 Ba Condo 12/17/2013 189,900 189,000 1801 Gulf N Dr # 108 691 1 Br/1 Ba Condo 12/18/2013 369,000 366,000 1325 Gulf N Dr # 171 1392 2 Br/2 Ba Condo 12/30/2013 169,000 161,000 117 7th N St # 12 729 2 Br/1 Ba Condo

Cortez

12/17/2013 189,900 185,000 9604 Cortez Rd W 323 1218 2 Br/2 Ba Condo 12/20/2013 684,900 625,000 4244 Marina Ct # 121 2307 3 Br/2 Ba Condo

Holmes Beach

12/09/2013 595,000 582,000 5613 Gulf Dr 1422 100x105 2 Br/2 Ba SFR 12/16/2013 1,199,000 1,075,000 691 Key Royale Dr 2055 100x150 3 Br/3 Ba SFR
12/19/2013 1,975,000 1,500,000 4410 2nd Ave 1942 75x200 3 Br/2 Ba SFR 12/19/2013 3,250,000 3,100,000 95 52nd St 2988 3 Br/3.5 Ba SFR 12/20/2013 739,900 571,500 311 65th St 2690 3 Br/2 Ba SFR, Short Sale
12/23/2013 550,000 515,000 526 68th St 1582 80x110 3 Br/2 Ba SFR 12/30/2013 610,000 610,000 627 Dundee Ln 1687 3 Br/3 Ba SFR 12/30/2013 439,000 427,500 213 77th St 1985 4 Br/2 Ba SFR 12/03/2013 299,000 290,000 3801 E Bay Dr # 204 1146 2 Br/2 Ba Condo 12/11/2013 521,000 475,000 4200 Gulf Dr # 105 1008 2 Br/2 Ba Condo 12/17/2013 2,999,900 2,622,000 3716 Gulf Dr # A 3247 3 Br/3.2 Ba Condo 12/20/2013 949,000 910,000 6700 Gulf Dr # 4 1513 3 Br/2.5 Ba Condo 12/24/2013 449,000 480,300 4105 5th Ave # N/A 1994 3 Br/2 Ba Condo, Short Sale
12/30/2013 194,900 175,000 3010 Avenue C 1200 50x100
12/06/2013 409,000 1,100,000 3522 6th Ave # C 1357 50x100 Inc
12/06/2013 1,225,000 1,100,000 3501 Gulf Dr # 1n 3806 100x100 Inc
12/12/2013 970,000 850,000 110 72nd St 2125 100x100 Inc
12/12/2013 699,000 645,000 111 78th St 1596 64x80 Inc
12/17/2013 425,000 395,000 2910 Gulf Dr 1517 50x100 Inc
12/30/2013 194,900 175,000 3010 Avenue C 1200 50x100 Inc
12/20/2013 450,000 315,000 3004 Avenue C 150x100 Vac

Source: Manatee County Property Appraiser’s Office


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