The Anna Maria Island Sun Newspaper


Vol. 16 No. 31 - June 1, 2016

REAL ESTATE

A Bert Harris tune up

 

It's been a year and a half since I wrote about the Bert Harris Act – right about when Island property owners were starting to challenge the vacation rental regulations. In view of several new Bert Harris claims on the Island, I thought it might be time to tune up Bert Harris for those who don't know what it is.

The Bert J. Harris, Jr. Private Property Rights Protection Act of 1995 was created to restore balance to the regulatory process by providing citizens with a mechanism for seeking compensation when government regulations or policy actions inordinately burden their property rights.

The act states specifically; "The term inordinate burden means that an action of one or more governmental entities has directly restricted or limited the use of real property such that the property owner is permanently unable to attain the reasonable, investment-backed expectation for the existing use of the real property or a vested right to a specific use of the real property with respect to the real property as a whole, or that the property owner is left with existing or vested uses that are unreasonable."

That sure is a word salad of terms and moving parts, but the essence of it relates to protecting the use of private property. When the act was drafted in 1995 the strongest critics of it were primarily city and county governments that frequently passed regulations that impacted the use of private property resulting in a financial loss to the owner. According to some property owners in the city of Anna Maria, the city is attempting to reduce the number of rentals by restricting the number of people permitted in each rental, specifically restricting the number of individuals who can occupy a rental unit to eight. This also can be controlled, not only in Anna Maria but also in the other cities, through the use of building permits for new or existing properties.

The argument against the cities and what is also generating so many Bert Harris claims is that state law prevents local governments from prohibiting vacation rentals for any duration. However, the number of occupants in a rental is not specifically part of the state law.

Recently the city of Anna Maria has been hit with over 40 Bert Harris claims seeking more than $12.5 million in compensation as previously reported in this paper. The law does permit property owners who consider that the value of their property has been diminished because of rental restrictions imposed by the city to seek financial compensation. The law suits are being accompanied by documentation, including professional real estate appraisals, in an effort to make the case that a loss of revenue from the property because of rental restrictions substantially reduces the overall value of the property.

There is room for negotiating some of these points between the cities and property owners that does not involve cash settlements. Adjusting the number of days, number of occupants and length of years the properties will be permitted to operate as rentals could be a compromise, but would only be applicable to current rental properties.

That's the Bert Harris tune up. I hope it makes all of this a little more understandable. As I wrote last time, living in such a beautiful and desirable place is both a blessing and a curse. Everyone needs to take a deep breath and focus on the blessings.

Real Estate Transactions
Real estate transfers of January-February 2016

Sponsored by Alan Galletto Island Real Estate

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

Anna Maria

2016-03-10 599,000 575,000 705 N Bay Blvd 911 50x100 2 Br/2 Ba SFR
2016-03-03 630,000 600,000 506 N Bay Blvd 1621 4 Br/2 Ba SFR
2016-03-15 699,000 610,000 318 Magnolia Ave 1440 3 Br/2 Ba SFR
2016-03-31 699,000 620,000 238 Oak Ave 1420 75x149.56 2 Br/2 Ba SFR
2016-03-23 774,900 765,000 307 Hardin Ave 1360 75x139 3 Br/2 Ba SFR
2016-03-31 1,149,900 985,000 727 Jacaranda Rd 2055 3 Br/2.5 Ba SFR
2016-03-21 1,195,000 1,100,000 214 Lakeview Dr 3181 100x1473 Br/3 Ba SFR
2016-03-04 2,190,000 2,050,000 812 S Bay Blvd 2150 75x145 3 Br/2 Ba SFR
2016-03-11 509,000 465,000 520 Kumquat Dr 75x141 SFR Use
2016-03-09 269,900 260,000 522 Pine Ave #4a 822 2 Br/1Ba Condo

Bradenton Beach

2016-03-21 749,000 685,000 2501 Avenue B 1728 50x100 3 Br/2 Ba SFR
2016-03-01 485,000 485,000 2414 Avenue 1788 50x100 Condo
2016-03-23 275,000 250,000 1325 Gulf Dr N #231 675 2 Br/1Ba Condo
2016-03-15 249,500 217,000 2412 Gulf Dr N #120 432 1 Br/1Ba Condo
2016-03-31 649,900 635,000 1900 Gulf Dr N #4 1212 3 Br/2 Ba Condo

Cortez

2016-03-11 129,900 105,000 12305 Baypointe Ter Irregular SFR Use
2016-03-08 705,000 705,000 4110 Marina Ct#4110 2307 3 Br/2 Ba Condo
2016-03-30 799,995 790,000 4130 Marina Ct #511 2594 3 Br/2 Ba Condo
2016-03-07 399,000 400,250 2703 Gulf Dr 1100 2 Br/1.5 Ba SFR
2016-03-25 474,000 465,000 2903 Gulf Dr 1402 3 Br/2 Ba SFR, REO/Bank Owned
2016-03-18 669,900 600,000 501 68th St 2044 3 Br/2.5 Ba SFR
2016-03-29 699,000 681,500 310 61st St #B 2114 45x101 3 Br/2.5 Ba SFR
2016-03-14 719,000 700,000 520 56th St 2452 3 Br/3 Ba SFR
2016-03-21 749,000 710,000 610 Emerald Ln 1969 3 Br/2 Ba SFR
2016-03-08 1,100,000 965,000 108 72nd St 2330 3 Br/2.5 Ba SFR
2016-03-31 1,499,900 1,275,000 103 75th St 2737 4 Br/4 Ba SFR
2016-03-30 1,750,000 1,625,000 697 Key Royale Dr 4584 100x150 5 Br/4.5 Ba SFR
2016-03-04 3,000,000 3,000,000 202 35th St 3224 100x100 4 Br/4 Ba SFR
2016-03-21 479,000 481,000 308 65th St #A&B 1458 99x94 Duplex
2016-03-31 1,190,000 1,040,000 104 29th St #3 2474 55x100 Triplex
2016-03-07 469,000 445,000 5405 Gulf Dr #B 1080 2 Br/2 Ba Half Duplex
2016-03-16 224,700 220,000 3805 E Bay Dr #301 917 1 Br/1Ba Condo
2016-03-28 499,000 499,000 6250 Holmes Blvd#62 1536 3 Br/2.5 Ba Condo
2016-03-04 749,000 719,000 6935 Holmes Blvd 1490 3 Br/2 Ba Condo
2016-03-31 350,000 350,000 458 63rd St 1248 2 Br/2 Ba Villa

 

Source: Mid Florida Multiple Listing Service


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