BRADENTON BEACH – The Woodruff & Sons construction company is now working along 12th Street South as Manatee County’s extensive sewer improvement project in Bradenton Beach continues.
On Aug. 23, Community Outreach Representative Tina Allen issued her latest email update.
“The contractor has completed installation and switching over of services to the new sewer system on 11th Street South. The road has been reconstructed and is now open to vehicular traffic. Final paving will be performed simultaneously with other completed side streets,” she stated.
“Installation of the new gravity sewer pipe across Gulf Drive South, and east on 12th Street South, is now complete. 12th Street South will remain closed to traffic through late September 2023 as the contractor works to perform service connections and reconstruction of the road. A reserved parking area has been provided along the west of Gulf Drive South for use by residents and renters impacted by the 12th Street construction,” Allen stated in her update.
In her July 28 update, Allen noted the lateral connection line had been installed down the center of 11th Street South and that work completed phase one of the two-phase project.
In her July 28 update, Allen wrote, “On Thursday, July 27, 2023, the contractor began installing a new gravity sewer pipe across Gulf Drive South to the east side of Gulf Drive South at 12th Street South. To accommodate pipe installation, traffic lane shifts will remain in place through late August 2023 for the northbound and southbound travel lanes of Gulf Drive South.
Allen’s updates are emailed to subscribers and they’re also posted at the project website, https://amiprojects.io/projects/bradenton-beach-sewer-improvements.
Manatee County Public Works Director Chad Butzow provided a project update during the Aug. 1 Council of Governments meeting.
“We’ve learned a lot. Our public outreach consultant has done a very good job. It is very timely and has been well-received,” Butzow said of the project updates that Allen provides.
Butzow said the main gravity sewer line has been installed parallel to and west of Gulf Drive South and that portion of the project is completed. Lateral connection lines are being installed down the center of each connecting side street, from 12th Street South to Sixth Street South, resulting in those side streets being temporarily closed to vehicular traffic one street at a time. Butzow said there will not be any instances when two side streets are closed at the same time.
The project-related street closures will impact residents, vacationers and property owners as that work progresses from street to street in the coming weeks and months. For those unable to access their side streets by automobile, the county is providing free shuttle service between the designated Gulf Drive South parking areas and the impacted side streets. For more information on the shuttle service, please call 941-269-6699.
The county project is expected to be completed in the fall of 2024.
BRADENTON BEACH – In advance of Tropical Storm Idalia, which is forecast to potentially make landfall as a major hurricane on Florida’s west coast, city commissioners voted unanimously on Aug. 28 to declare a local state of emergency.
The state of emergency will remain in place until Tuesday, Sept. 5 and will be extended if needed.
“What we’re expecting now is a storm surge of 4-7 feet,” Bradenton Beach Police Chief John Cosby said. “Tuesday night around 1 a.m. is high tide. We’re going to have some water. That’s going to be our biggest issue. Winds anywhere from 35 (miles per hour) gusting to 73.”
At 2 p.m. Monday, a mandatory evacuation order was in place for Level A residents and all Manatee Couty residents in mobile home parks. The county also issued a voluntary Level B evacuation.
“The reason we’re issuing the evacuation order so soon is sometimes it takes people a while to get out,” Cosby said. “You don’t have to go at that time. You’re probably going to be pretty comfortable staying here through tomorrow (Tuesday). But tomorrow night is when you really need to start thinking about it.”
Cosby suggested people closely monitor the weather forecast.
“The concern is if it shifts to the right, we’re going to have a problem,” he said. “The best situation for us is it moves a little more to the left. The further away the better.”
He said city businesses, along with city hall, will be closed Aug. 29-30. Manatee County government offices closed at noon on Monday.
“There are three shelters open – Miller, Freedom and Mills,” Cosby said.
Virgil Mills Elementary School is located at 7200 69th St. E., Palmetto; Jesse P. Miller Elementary School is located at 6014 Third St. W., Bradenton and Freedom Elementary School is located at 9515 FL-64, Bradenton.
City officials said public works staff is preparing for the storm by checking storm drains and code enforcement is clearing the beaches. Construction sites in the city also will be shut down.
Cosby said there would be extra police staff on duty.
Residents who do evacuate Anna Maria Island will need to show a driver’s license as proof of residency upon return, Cosby said.
Every day I look at new listings on Anna Maria Island and in Cortez, and every day I’m surprised and ask myself when it will end. In the years leading up to COVID-19, I would analyze over $1 million properties listed on the Island and in Cortez. Now that exercise seems quaint, almost peculiar and it all changed in a short three-year period.
Because of these extraordinary listing numbers, which I see every day, I did a quick analysis of available properties in the three cities of Anna Maria Island and Cortez, researched on the Realtor.com website as of this writing. Rather than use $1 million as my breaking point, I upped it to $3 million, so get ready for this:
The city of Anna Maria had 82 properties listed, 44 of which were $3 million or over, almost half. The top property was listed at $16,995,000. Every million-dollar category was represented, and, except for the very top listing, there wasn’t a big gap between the categories.
Holmes Beach and Bradenton Beach, which are combined by zip code on Realtor.com, had 179 properties listed, 45 of which were $3 million or over. The top listing number was $22,500,000 and, like Anna Maria, except for the very top, the listing prices represented every million-dollar category.
Even Cortez has a new listing at $3,750,000 with the rest of the 12 listings hovering in the mid- to high-million dollar range.
Sales of properties in the high-end market around the country are slowing. The high-end and luxury market nationwide is defined as the top 5% of homes and they’re suffering from the same issues the regular old real estate market is struggling with, low inventory and high interest rates.
Redfin’s analysis reports that in the first quarter of 2023, the sales of high-end properties were down by 33% from the first quarter of the previous year. They feel this is the result of the frenzy during the pandemic as well as inflation and a volatile stock market.
The markets with the biggest drop in transactions for the three months that ended June 30 are also the metro areas that were unstoppable during the pandemic: Miami was down 40.14%, Nassau County on New York’s Long Island was down 39.34%, New York City was down 35.98%, Los Angeles was down 36.17% and Chicago was down 34.13%.
Miami and New York City are starting to show signs of life. Miami is still recovering from the mass migration and buying frenzy during COVID-19, and inventory has not been resupplied. And New York is New York and will always come back to life with the suburban high-end areas around it following. However, it appears that Los Angeles and Chicago will take a little longer based on residents leaving Los Angeles for lower tax states and Chicago residents leaving because of crime.
Based on the number of pending properties, it looks like Anna Maria Island is also slowing but we are in the worst part of our off-season with heat alerts and record-breaking temperatures, so we won’t have a clear idea until later in the year. Typically, Anna Maria Island, and Florida in general, has outpaced most of the country in growth and the real estate market has followed along.
The combination of Anna Maria, Holmes Beach and Bradenton Beach had 89 properties listed at $3 million or over, all on a 7-mile spit of land. I think I’ll stop asking myself where it will end because I don’t know and neither does anyone else. Such is the nature of real estate.
BRADENTON BEACH – The Community Redevelopment Agency (CRA) board voted unanimously to discontinue funding the Old Town Tram at an Aug. 15 budget meeting.
The potential defunding of the tram comes on the heels of another free Anna Maria Island ride service, the Monkey Bus, which has temporarily shut down services while attempting to resolve insurance issues.
The Old Town Tram, a free park-and-ride shuttle service in the CRA district (from the Cortez Bridge to Fifth Street South), is supported by the CRA at a cost of $52,000 annually.
“We have $52,000 set aside for this as a recurring cost in our budget,” City Attorney Ricinda Perry said during the budget discussion meeting. “Is this something that you’re looking at continuing? We have extended and extended and extended the trial period to see if this is a success.”
Launched as a pilot program in November 2020, the Old Town Trams were put in place to help address the lack of parking on and around Bridge Street. The program, using two electric golf carts, is provided by the Sarasota-based Easy Parking Group, owned by Joshua LaRose.
Perry noted that the tram agreement between the CRA and Easy Parking Group is on a month-to-month basis and could be closed this budget year.
“We have had a loose understanding of what is successful. We know that one of the main contributors to why this is not wildly successful is because of what is happening with the construction on the south end of the city,” Perry said, referring to an ongoing sewer project.
Perry noted that changes are coming with regard to Manatee County’s water taxi and she said she has had discussions with Elliott Falcione of the Manatee County Tourist Development Council about how people will make their way to the beach and back, and perhaps the county might want to be in partnership with that endeavor. Perry asked the board: “Do you feel the $52,000 is something you want to continue to invest in that project or is this something we need to look at tapering off and picking up potentially down the road?”
“I think that tram is a waste of money personally,” Commissioner Jan Vosburgh said. “I don’t see any benefit to that tram.”
Commissioner Ralph Cole expressed his belief that the tram service should be run privately.
“I think there’s enough interest out there that a private individual would buy the insurance to do it,” he said.
Mayor John Chappie echoed Cole’s sentiments.
“I’ve said all along that I thought the private sector could handle things. If the businesses want to provide some sort of tram, trolley system, golf carts, they should be the ones to do it,” Chappie said, adding, “We’ve tried this as an experiment. I don’t think it’s been all that successful.”
Chappie noted that a significant change throughout the Island in recent years is the rental of golf carts.
“That’s what the people are driving around in,” Chappie said. “The private sector needs to step up.”
The tram is partially funded by advertising sales.
“No one’s going to do that business,” Commissioner Jake Spooner said. “Josh is not covering his own costs. To think that service is going to keep happening from the private sector – I don’t think is going to happen.”
“If there’s money to be made, somebody will do it,” Bradenton Beach Police Chief John Cosby said.
Spooner said while he doesn’t feel the tram is successful, he thinks it could be more successful after a promenade is built and the ride service has a designated route.
“I think it does serve a purpose, and for $52,000 a year, that’s totally up to the board. My other thought is if we get rid of it and then we get the promenade, it’s hard to get things back,” Spooner said.
“Let’s see if that $52,000 is one of our priorities,” Chappie said. “Let’s move on and see how it shakes out.”
After a line-by-line discussion of other CRA-budgeted projects during the meeting, the tram was not among the approved expenditures.
LaRose declined to comment on the specifics of the CRA vote, but expressed the desire to continue the tram service.
“We would like to keep going,” he said, adding that he has reached out to the city to discuss options. “I haven’t heard back yet, but I have some ideas. We still have service going right now.”
LaRose said the two trams he has in service currently accommodate 4,000 riders a month off season and close to double that in season. One of those vehicles is ADA (Americans with Disabilities Act) accessible.
“Right now, we have more value than ever with the construction limiting the amount of parking,” he said. “Our guys tell people where parking is so we’re also an information service.”
The CRA board unanimously approved the following expenditures: 300,000 for paid parking; $38,550 for a grant to monitor seagrass and $20,000 for future monitoring professional services; $300,000 for undergrounding; $40,000 for Christmas on Bridge Street; $25,000 for a fence at Anna Maria Oyster Bar; $10,000 for cultural arts; $75,000 for a resiliency project on Bay Drive South; $106,690 for cistern improvements; $30,000 for sidewalk improvements; $50,000 for district improvements, including trash cans, bike racks, planters and landscaping; $15,000 for signage in the CRA district; and $10,000 for additional improvements.
The next CRA budget meetings are tentatively scheduled on Thursday, Sept. 7 at 5 p.m. and Thursday, Sept. 14 at 5 p.m.
BRADENTON BEACH – A woman and her small dog were attacked by an unleashed mastiff at Island Time Bar and Grill, 111 Gulf Drive S. on Aug. 9.
The dog later died, according to the owner.
Bradenton Beach Police Officer Thomas Ferrara was in the parking lot of Circle K at 103 Gulf Drive S. when he heard people screaming for help at the restaurant next door, according to a police report.
After calling for backup, he arrived at the scene and while trying to determine if a weapon was involved in the incident, he heard someone say it was a dog attack and people had been bitten, according to the report.
Ferrara saw a woman, who wished not to be identified, bleeding from her left leg and left middle finger. His attention was then directed to a man, identified as Anthony Santamauro, holding a large English mastiff dog he estimated to weigh more than 100 pounds. Santamauro was holding his shoulder but did not appear to be bleeding.
Video evidence
Due to conflicting stories from witnesses, Sgt. Steve Masi, who had arrived to provide backup, reviewed security footage from the bar revealing what had happened.
“After reviewing the video, I observed Mr. Santamauro enter the Island Time patio area with his dog (which the owner identified as a service dog), through a northwest doorway near the bar,” according to the police report. “Upon entering, Santamauro had the dog walking directly next to him. It appears the mastiff saw the very tiny dog approximately one-tenth its size leashed and sitting under the table with its female owner while she was eating dinner.”
The report goes on to say the unleashed mastiff grabbed the small dog in its jaws and begin shaking it and violently biting. When the small dog’s owner pulled it out of the larger dog’s mouth by pulling on the leash and trying to hold it in the air, the mastiff knocked the woman to the ground. Santamauro dove between the dogs and tried to separate them, at which time he fell face forward to the ground, landing on his shoulder, according to the report.
EMS arrived at the scene, but the female victim refused transport to the hospital for her injuries.
Police said the victim reported her dog later succumbed to its injuries and did not survive the attack. Sgt. Masi contacted animal control, which is investigating the incident.
Santamauro was issued a city ordinance violation. The female victim said she did not want Santamauro to be “in a lot of trouble,” but did want him to be responsible for any hospital treatment costs and other bills associated with the incident, according to the report.
BRADENTON BEACH – A Hillsborough County Sheriff’s Office (HCSO) sergeant is on administrative leave after being arrested and charged with obstruction without violence by Bradenton Beach police (BBPD) for allegedly escalating an argument over a parking space.
According to his report, BBPD Sgt. Steve Masi was investigating a fight on July 30 at 6 p.m. over two handicapped parking spaces at a condo complex involving large groups of people. A man later identified as HCSO Sgt. Brendan Fitzgerald claimed a man punched him, but that man claimed it was Fitzgerald that had struck and pushed him first and he wished to press charges. Masi obtained criminal complaints and witness statements from the 13 people involved in the incident, all of whom complied, except for Fitzgerald, according to the police report.
“Fitzgerald’s behavior went from calm to aggressive very fast and back down as we talked,” Masi said in his report. “He kept saying he was a Hillsborough sergeant and I should take note.”
Masi said he asked Fitzgerald many times to provide identification, but he refused. He then asked Fitzgerald’s girlfriend and family to convince him to identify himself, but he continued to refuse, stating, “I’m a sergeant, I know the law kid, and I’m not identifying.” Masi explained to him that he was investigating a crime that had taken place that he was involved in, and he was required to provide identification. After continuing to refuse after being asked more than 10 times, Fitzgerald was advised he was going to be arrested for obstruction as he knowingly and willfully was obstructing the investigation, according to the report.
“This is a joke and you’re a joke, you can’t take me for obstruction, learn your laws boy!” Fitzgerald allegedly responded.
After placing Fitzgerald under arrest and taking him to BBPD for processing, Masi radioed Officer Thomas Ferrara to come to the police station to observe and document the arrest and take detailed notes on any statements Fitzgerald made during the process. According to a separate report filed by Ferrara, Fitzgerald continued to be belligerent and insult both of the officers, saying things like he had worked with “idiots” like them in the past, and using graphic language.
Fitzgerald was taken to Manatee County Jail on an obstruction charge where he was later released on $120 bond. He is due to appear in court on Wednesday, Aug. 30 at 9 a.m.
The HCSO issued the following statement regarding the arrest: “The Hillsborough County Sheriff’s Office has placed a sergeant on administrative leave after he was arrested in Manatee County on July 30, 2023. Brendan Fitzgerald, 52, was charged with obstruction without violence by the Bradenton Beach Police Department after an argument over a parking spot.
“Sgt. Fitzgerald’s behavior is inexcusable,” Sheriff Chad Chronister said. “He will now face the consequences for his actions.”
BRADENTON BEACH – Longtime Cortez and Bradenton Beach resident Marty Tupin passed away on Aug. 1, just a few weeks before his 63rd birthday.
Over the years, Marty was a commercial fisherman, a fiberglass and metal fabricator, an artist, a furniture maker, and more. After a portion of his right leg was amputated, Marty spent his final couple years as the ever-vigilant parking attendant at the Drift In bar in Bradenton Beach, where he zipped around on his three-wheeled electric scooter supervising the sometimes challenging two-deep, tandem parking reserved for patrons only.
Marty Tupin spent his final years patrolling the Drift In parking lot. – Submitted
The Drift In, 120 Bridge St., will host a celebration of life on Sunday, August 27, at 2 p.m. Attendees are invited to bring a dish to share and to share their memories of Marty.
Marty’s family will host a celebration of life at the Star Fish Company restaurant in Cortez, at 12306 46th Ave. W. on Sunday, Oct. 1, from 5 to 8 p.m.
Life’s challenges
Marty’s sister, Judy (Tupin) Mossorofo, lives in Venice with her husband, Charles Mossorofo, and they shared their insights on Marty’s colorful and sometimes challenging life.
Marty was born in Medina, Ohio. When he was about a year old and Judy was two, their parents were in an automobile accident in Butler, Georgia that killed their mom, Elsie, a former Manatee County schoolteacher.
Marty’s dad, Lynn, had family ties to the Cortez commercial fishing community and was a commercial fisherman himself. After the accident, he and the children moved to Manatee County, where the siblings lived with various family members before being placed in separate foster homes.
“All four of us got split up. We didn’t grow up together,” Judy said of their fractured family.
Marty loved his son, Cory Herrick. – Submitted
Judy said Marty began his commercial fishing career in Cortez in the 1980s.
“He loved fishing and crabbing. His friends were commercial fishermen and shrimpers and he worked the docks at the AP Bell Fish Company. He loved catching fish and bringing them to all his friends. He fiber-glassed a lot of boats and he was really good at that. He mended nets too. He also loved painting, making metal sculptures and building and painting wooden chairs and benches. He loved working with his hands. He was very creative. He was a fabulous artist. He was a good father and he loved his dogs too,” Judy said.
Marty Tupin spent many years working as a commercial fisherman. – Submitted
Judy can’t remember exactly when it happened, but she said Marty was in a motorcycle accident that seriously injured his right leg and impacted the rest of his life.
“Later, his leg hurt so bad that he couldn’t walk. It got so badly infected that they had to cut the foot off at the ankle. It then spread up his leg and more of his leg was amputated because of bad circulation and sepsis,” Judy said, noting some toes on his left foot were later amputated too.
In mid-July, Marty became seriously ill and was hospitalized. His left leg was amputated in an attempt to save his life and he was later moved to Tidewell Hospice in Bradenton where he spent his final days, visited by family and friends.
Regarding his late brother-in-law, Charles said, “I’m from New York City. I met Marty 23 years ago when I first came down here with Judy. This guy was just beaming with life. He’d tell me stories about being a commercial fisherman and getting off the boat for a burger and a beer at a bar. He certainly had a lust for life and the open sea.
“We didn’t see each other often, but I was close to him. He lived life completely on his own terms and he did it without being malicious. Marty got grumpy sometimes, but he was all heart and we never argued. I taught him it was OK to agree to disagree and we did that for 23 years. He was a remarkable, beautiful man. He had a heart of gold,” Charles said.
Friends aplenty
Drift In Manager Doreen Flynn said, “I called him ‘Mr. Crotchety’ but I loved him and I wish he was still here. He worked here for the past couple of years but I knew him for 15 years. He used to bring me my fish and shrimp and he taught me to freeze fish in water in a bag so it was fresh when you took it out. He was dealt some tough cards but he always kept his head up and he did not want anyone to know he was in pain every day. He will be deeply missed. He drank Jack Daniel’s Tennessee Honey and Icehouse beer and we’re going to have an Icehouse special on the 27th.”
Joy Nelson hosts bingo and deals bar poker at the Drift.
She said, “Words to describe my friend: arrogant, funny, straightforward, loving, caring, hard-headed and more. There was never a question about what he was thinking about you. You could be a stranger or a great friend and he never held back. He was completely real and he encouraged me to be the same. He didn’t have an easy life, but he won at bar poker all the time, so I figured he was at least lucky at one thing. But after he went into the hospital for the last time, I realized I was wrong. He was lucky that he found our crazy Drift In family and somehow fit in. We could all butt heads at times and then share a drink and laugh together at the end of the night. I miss my friend,” Nelson said.
Drift In patron Mike Cunningham said, “Most people’s first impression of Marty was that he was a little prickly, but if you accepted him as he was and took the time to get to know him you would find he was a straight-up guy and a true friend. I miss his honesty, humor and frankness. The setbacks he had the last couple of years never changed the good things I loved about him.”
Drift In patron Rebecca Brodeur said, “I loved him. I went to see him during his last days. He was a good, old friend. I went to elementary school with him. He was a stinker even on the bus and at school, but he had a good heart and he was a good person. He wasn’t just a parking lot attendant. He was a great fisherman and artist too.”
As an artist, Marty Tupin worked in many mediums. – Submitted
Local musician Mike McConnell said, “Marty was one of those salty characters that made up the diversity at the Drift In. Our relationship was contentious at first but I believe we regarded each other as friends and we worked together at the most unique watering hole in America.”
Marty Tupin enjoyed time spent on the water. – Submitted
Drift In patron Tammi McCoy said, “Every morning I’d pass by on my way to yoga and Marty would always wave to me. I loved Marty. He was a really good guy.
Her husband Greg, said, “You had to avoid that damn scooter he was on because he’d about run you over.”
With the help from the Drift In and Beach’N Bikes & Rentals, Marty’s scooter was donated to Cortezian and fellow-amputee Kathy Barnett, per the family’s request.
Marty’s family donated his mobility scooter to Kathy Barnett. – Submitted
When asked about Marty, AP Bell and Star Fish Company owner Karen Bell said, “He hadn’t been around here a lot lately, but he used to be in the village all the time when he fished and lived up in Popeye’s apartment. He was kind of a jack of all trades who usually crewed on someone else’s boat. He was as committed to his art as much as anything else and he really enjoyed painting fish on glass. He had a good heart, but he also had an edginess to him.”
Marty Tupin enjoyed painting fish on glass backgrounds. – Sarah Santos | Submitted
Charter captain and cousin Kathe Tupin Fannon, said, “Marty had the ability to piss you off but he also had the ability to make you like him. I am sure when he made it to the front gates of Heaven he was explaining to God how to run Heaven.”
Facebook tributes
Marty’s passing also generated many Facebook comments.
Drift In owner Derek Williams wrote: “I bought the Drift-In in December 2022. Marty was one of the first people to offer me a hand. He loved his Drift family and he truly had pride in our business, our parking lot and his job. He earned every tip and he made people laugh.”
Former Drift In bartender Sharon Bell wrote: “Marty was one-of-a-kind for sure; my salty parking pirate. I think his drive and spirit were so strong that he willed himself into living the past few years. He enjoyed being the center of attention and truly loved being generous. I remember him offering his food and if you didn’t take at least a little it hurt his feelings. He was a pot-stirrer for sure, but kind at his core. He was a hard worker that wanted to contribute and be as independent as he could. We are less for not having him around to antagonize us with his antics. He will be missed and always remembered.”
Sarah Santos and Heather McNeal were among Marty’s many friends. – Sarah Santos | Submitted
Charter captain and Sports Lounge bartender Sarah Santos wrote: “I met Marty a little over 12 years ago when I lived across from Starfish Co. in the village. He was the sweetest man and always made me feel like a million bucks! We will all miss him dearly. He was so talented.”
Sunshine Bechler wrote: “Rest in Peace Marty. Thanks for squeezing me in and out a time or two.”
Commercial fishing was one of Marty Tupin’s many passions. – Submitted
There’s a great song from the movie Cabaret that goes something like this: “Money makes the world go ’round, the world go ’round, the world go ‘round.” I like it because it says so much in such a short lyric and is understood by everyone. For buyers and sellers in this real estate market, the money is represented by mortgage interest rates which change so quickly your head could go ‘round and ‘round.
At the July meeting of the Federal Reserve, they raised interest rates by another quarter percent, which was expected, but they did indicate the possibility of easing towards the end of the year. According to Forbes on Aug. 2, the average residential 30-year fixed rate mortgage was 7.47%, not making buyers feel warm and fuzzy.
Interest rates are impacting the real estate sales market as frustrated home shoppers are facing high rates combined with a shortage of available properties that are not moving substantially down. Sellers are happily sitting tight on their 3% mortgages with Cheshire cat smiles on their faces for being so smart.
According to the National Association of Realtors, June sales fell 18.9% nationally compared to June of last year. Manatee County had 17.7% more sales for single-family homes compared to June of last year.
Sale prices are down slightly but still historically high. The national median existing-home price fell 0.9% in June from last year to $410,200, and the Manatee County median sale price for single-family homes was down 4.5% to $525,000. However, based on the new listings coming out daily, I wouldn’t be too worried about our values taking a deep dive any time soon.
There is another way for buyers and those sellers who want to sell to come together despite high rates that may be disqualifying some buyers. Sellers could offer or buyers could suggest that sellers finance a buyer’s purchase of their home. This is called taking back a mortgage and is more common for investment properties but could also offer a solution for some buyers with an interested seller.
Seller financing helps buyers increase their purchasing power by saving on closing costs, setting up escrow accounts, and application fees or paying lower interest rates. It could also help sellers who want buyers to make a full-price or higher offer on the home and are concerned about the property appraising through a conventional bank lender. The transaction is similar to closing with a lender; the buyer receives title to the property at the closing as with a traditional mortgage.
Sellers are assuming the larger risk of taking back a mortgage on their property. If the buyer defaults or doesn’t pay their real estate taxes or insurance, the seller will need to proceed with a foreclosure which is expensive and time-consuming. It’s all a little complicated and risky for all parties including getting a tax advisor involved and, of course, an attorney.
Anxious sellers who have properties that have been on the market for some time could consider holding the mortgage. This could also produce a steady stream of income for the seller if they are in a financial position to delay receiving the proceeds from the sale.
Typically, buyers can negotiate an interest rate lower than the prevailing rate, however, there is a minimum interest rate regulated by the IRS to consider. Sellers could wait out the higher rates hoping for a future decline then apply for a conventional mortgage and pay off the seller.
Money makes the world go ‘round and trying to understand it can make your head explode. Proceed with caution.
Residential mortgage rates barely budged in June, leveling off at the 6.5% mark the last week of May. Just when buyers were starting to exhale, thinking this may be as high as we go, the national 30-year average fixed-rate mortgage blew past that mark the first week of July. Talk about fireworks. According to Freddie Mac, rates finished the week ending July 6 at an average of 6.81%. One outlier from the Mortgage News Daily reported a 30-year fixed mortgage hit 7.22%.
If you’re thinking well, that’s not too bad, consider the poor buyer who is looking at a $400,000 mortgage and now faces an increase in monthly carrying charges over $100. This could be the breaking point for some buyers as far as qualifying.
And we’re not done yet. Housing market watchers expect mortgage rates to remain elevated amid ongoing economic uncertainty and the Federal Reserve’s rate hike war on inflation. The expectation is two more rate increases before the end of 2023. If they proceed with quarter-point increases, you do the math.
The Federal Reserve has clearly stated there is a long way to go to bring inflation back to its 2% goal. Since July 26 is their next meeting, we won’t have long to wait for an answer. Housing experts like Lawrence Yun, chief economist at the National Association of Realtors, feel the Fed has been hawkish as it regards rate increases. Yun says, “The rate hikes from earlier months have yet to exert their force at a time when inflation has already decelerated to 4% and there is no need to consider raising interest rates.” We’ll see if anyone in Washington listens to him.
Further, if you think housing inventory is down now, wait till these higher rates kick in. Sellers with mortgage rates below 3% or 4% are not motivated to sell no matter how much they want that extra bedroom or water view. Homeowners feel locked in and are remaining on the sidelines willing to wait it out. They may have a long wait.
No matter how high the rates go, however, keep in mind the real estate market has survived rates higher than we will probably be looking at by the end of the year and people were still buying houses. Eventually, buyers and sellers will have to blink and start the market rolling again.
Before I end this column, I would like to acknowledge the passing of Pat Copeland, an Island treasure and the editor of this column for The Sun for many years. She edited with a light touch, never passing judgment, simply suggesting a more concise sentence structure or precise word, and she was always right.
I was away when she passed, but was thankfully home in time to attend her memorial at Roser Church on Pine Avenue. Her family did her proud, from her young grandchildren to her well-poised and talented daughters and sons-in-law and, of course, her husband of 50 years, Doug Copeland, an Island treasure in his own right. It was an uplifting event with big smiles from all who attended, ending with a New Orleans-style second-line processional to celebrate a life well lived by a special lady.
You may not be able to influence how mortgage rates are moving, but you can keep your life moving in the right direction. In the words of Pat Copeland, “Life is a party.” Who cares what the Federal Reserve says?
Most homebuyers today want to buy a home, but very few want to buy a project. Nice work if you can get it, but even in our slightly leveling-off market, it may not be so easy.
Unfortunately for buyers, there is still a lack of inventory in most markets around the country. Our local market is no different with only a 2.7-month supply of available properties as of the end of May, higher than last year but still well below a 6-month availability, which is considered a healthy market.
The challenge for buyers has a lot to do with increased mortgage rates. Purchasing a home that is fully renovated may cost more but if the buyer is qualified, this additional cost can be financed and become part of the overall underlying mortgage. Even at today’s higher rates, 6.67% on average at the end of June, it’s still better to have the work done before purchase than to renovate after purchasing. Coming up with the cash to renovate or finance the renovation is also subject to today’s higher interest rates and shorter repayment terms.
The challenge for sellers is that they are no longer getting multiple offers on their property no matter what condition it’s in. According to the National Association of Realtors, sellers are receiving an average of three offers now, compared with around six a year ago. The consensus is that renovated properties sell quicker than unrenovated properties, which appears to be true for both primary homes and second homes.
Real estate professionals feel that anything that sits on the market for more than a month is usually either overpriced or in need of significant repairs or updates. In Manatee County as of the end of May, single-family homes were in contract an average of 32 days from listing. How long a property is on the market can be influenced by a variety of factors. Here in Florida, the season is a major factor. The market traditionally slows down in the summer, so there are fewer buyers in the pool. That said, some buyers simply have no choice but to purchase a home that needs renovation.
Despite fewer offers on properties, the prices haven’t declined as much as many economists expected. Because of higher mortgage rates, current homeowners are reluctant to sell their properties, keeping the supply of homes on the market lower than normal. Home prices peaked in June of 2022 and declined until January of 2023 when they started to recover.
However, even homes that need renovations are still selling near the list price or slightly higher because there aren’t enough homes on the market to meet the demand. Nationally, the median existing-home price fell 3.1% in May from a year earlier to $396,100, according to the National Associations of Realtors. Manatee County’s median single-family home price at the end of May fell by 6.4% to $515,000.
Buyers with busy lifestyles are less inclined to buy a home requiring major renovations. This is especially true for many buyers in our area who are second homeowners and live out of state. It’s difficult to manage a home renovation when you’re local but almost impossible from 1,000 miles away.
Nevertheless, if you’re in the market for a project, and have the funds to renovate and manage the project, you may be able to come out ahead. Picking your kitchen cabinets and bathroom tile does have an advantage and is nice work if you can get it.
ANNA MARIA ISLAND – It may not come as a surprise to some long-time residents, but the population of this seven-mile stretch of paradise is dwindling.
While the U.S. Census Bureau conducts 10-year counts across the country, the organization also conducts a yearly American Community Survey to record changes and trends in population. The available online data spans 2010-2021 and shows a few minor ups and downs in population numbers. However, there is a stark difference in all three Island cities in the numbers between 2020 and 2021 – all three cities lost a significant portion of their population.
Looking at the data, the city of Holmes Beach is the undisputed largest municipality on the Island. In 2010, Holmes Beach had 4,136 residents. After fluctuations of 100-200 people per year, the city had 4,276 residents in 2020. That number dropped to 3,132 in 2021. That’s a loss of 1,144 in a single year, or 26.75% of the population.
In Anna Maria, the population changes were more volatile over the years. In 2010, the city had a recorded 1,475 residents, hitting a high of 1,556 in 2013 before steadily dropping to 719 in 2019. In 2020, the city’s population jumped to 1,087 before dropping to 944 in 2021, a loss of 143 residents in a single year, representing 13% of the population.
The population in Bradenton Beach also suffered a steady decline over the years. In 2010, the city had 1,452 residents. That number dropped to 836 by 2019 before picking back up to 902 in 2020. By the 2021 count, Bradenton Beach had lost another 35 residents, dropping the population down to 867, a 4% loss.
In a single year, 2020-21, 1,322 residents left the Island life behind. With stories floating around the three municipalities about more and more residents moving away, population numbers have the potential to drop even more when the 2022 and 2023 data comes out. And while the state of Florida and greater Manatee County are showing population increases, that data isn’t reflected in the population numbers for the Island.
The Census Bureau states that when cities start to see marked decreases in population year over year, that’s when it becomes more likely that the cities will disincorporate, with the land annexed into a larger geographic body, such as unincorporated Manatee County, an idea that was proposed by the Manatee County legislative delegation prior to the 2023 state legislative session. While the idea of folding the three cities into one or putting them all solely under the governmental leadership of the Manatee County Board of Commissioners wasn’t pursued this year, that doesn’t necessarily mean that it’s off the table for coming legislative sessions if population numbers continue to dwindle.
BRADENTON – An open house held on June 27 at the Manatee Performing Arts Center by the Bradenton Area Convention and Visitors Bureau (CVB) offered answers to many of the questions regarding the long-awaited ferry service between Anna Maria Island and Bradenton.
On April 23, CVB Executive Director Elliott Falcione said the hope was to have the boats operational by July, potentially by the Fourth of July weekend, a goal that was missed. The new, more conservative estimate is to have the boats running with passengers onboard by the end of the summer.
Although construction of the two 49-passenger pontoon boats is almost complete, they still require plenty of testing to get all Coast Guard certifications and permits issued. In addition, the city of Anna Maria has not yet reached an interlocal agreement with the county regarding the use of the Anna Maria City Pier as the northernmost stop on the Island.
The current plan is to have the water taxis depart downtown Bradenton and dock at the Anna Maria City Pier in Anna Maria and the Bradenton Beach Pier and South Coquina Boat Ramp in Bradenton Beach. Anna Maria Mayor Dan Murphy says there are things in the county’s proposed agreement that are of concern, and they are waiting for a revised proposal that makes better business sense for the city. Regardless, the project continues to move forward.
“I just got the call that boats will be splashing in the water in about two weeks,” Gulf Coast Water Taxi owner Trisha Rodriguez said. “Now that is without any Coast Guard validation and without any sea trials being done. It’s going to take a couple of weeks, if not a couple of months to get all of those sea trials completed. Most importantly regarding the timeline is that the docks have to be ready, and they are not ready now. The issue right now is we don’t have anywhere to go to, even if we were ready now, the docks have to be ready for the boats and they aren’t at this time.”
Rodriguez says that before the service begins there will be some trips for media and partners of the project to ride and see how the boats will operate. Dates for those trips have not yet been set. As for where the boats will be kept between splashdown in Bradenton and the start of the service, Rodriguez said that is being negotiated currently and they should have an answer in the next few days.
The open house also answered many of the basic questions many have had regarding the service once it is operational, including:
Days and hours of operation
Initially the Gulf Islands Ferry will operate every Friday, Saturday and Sunday from 10:30 a.m.-9:30 p.m. year-round. The captain of the boat will have complete authority over stopping service due to weather issues. During the stormy summer months, there will be times service will be suspended for safety reasons.
Cost
Tickets will be $8 for a one-way ride, $5 for children 4-12 and $6 for seniors. Tickets can be purchased in advance online or they can be purchased when boarding the boat if space is available.
Trip length
Assuming the city of Anna Maria reaches an agreement for use of the pier, the service will depart the downtown Bradenton Riverwalk near the Green Bridge with a 35-minute ride to Anna Maria City Pier. Exact times to the Bradenton Beach Pier and South Coquina Boat Ramp will be determined after sea trials begin in the next few weeks. This information will be updated frequently at www.gulfislandferry.com.
Where to park
In Bradenton, free parking is available at the City Centre Parking Facility at Third Avenue West between 10th and 12th Streets. On the Island, there is public parking at Coquina Beach, Cortez Beach and the Bridge Street area in Bradenton Beach. In Anna Maria, there is also free public parking near the city pier along the bay and on Pine Avenue. Parking on AMI can be very limited and part of the reason county officials have shown so much support for this project is because they hope people coming from Bradenton will use the service instead of bringing a car to the Island. The Island has a free trolley service as well as privately-owned transportation services that make getting around fairly easy without a personal vehicle.
Pet policy
Leashed, well-behaved pets are allowed onboard as long as they don’t bother other guests and all service pets are welcome. It should be noted that pets are prohibited on all Anna Maria Island beaches.
Restrooms
There is one restroom on each vessel.
Beach gear
Most commonly used beach gear and coolers are permitted on the boats, but due to U.S. Coast Guard regulations, bicycles will not be permitted on the water taxi.
Private charters
If arrangements are made at least two weeks in advance, most large groups can be accommodated. To schedule, email kristi@gulfcoastwatertaxi.com.
Wi-Fi
Complimentary Wi-Fi will be available on both water taxis; however, it should be noted that there will be dead spots along the route and full boats could experience bandwidth issues.
BRADENTON BEACH – While the water may look calm and harmless, a number of drowning deaths have struck the Gulf coast of Florida over the last month, and a 71-year-old Bradenton man was the latest to succumb to unpredictable Gulf waters on June 26.
At least 12 people have died in the past month on the Gulf coast, including seven in Panama City and the high-profile death of former NFL quarterback Ryan Mallett, who despite being a healthy 35-year-old athlete, drowned in Destin in conditions that officials said did not involve potentially deadly rip currents.
According to the National Weather Service, there have been more than 1,000 surf zone fatalities since 2010, including 60 so far this year. Of those 60 deaths, which do not include Mallett’s, 17 have occurred along the Gulf of Mexico coast and all but two involved rip currents.
In the case of Benjamin Warren Griffith, 71, of Bradenton, Bradenton Beach Police Lt. Lenard Diaz said in his report that he arrived in the area of 400 Gulf Drive S. on June 26 at 2:40 p.m. to find EMS, fire and beach patrol already on the scene providing CPR.
“While the medical professionals were operating on Griffith, I gathered witness information and an explanation of events,” Diaz said in his report. “A witness said she had observed the victim swimming out halfway to the buoy where he was for an undisclosed amount of time. By the time they noticed Griffith was in the water, they were not sure if he was face up or face down. When she realized he was face down, the witness, Kimberly Lampercht, went out in the water to grab him and brought him to shore, then called 911.”
EMS transported Griffith to HCA Florida Blake Hospital, where he later died. Diaz’s report states it is unknown if he had any prior health issues that may have been related to the incident.
BRADENTON BEACH – Almost the entire Coquina Beach parking lot is now available to beachgoers, including those visiting the beach during the extended Fourth of July weekend.
The second phase of Manatee County’s long-running drainage and parking lot improvement project is now in its final stage, with the remaining work taking place in the overflow parking area being created north of the picnic pavilion area.
This diagram illustrates where the work was completed and the overflow parking area, circled in red, still being worked on. – Manatee County | Submitted
According to Manatee County Information Outreach Manager Bill Logan, all the Coquina Beach parking spaces are now open except for the overflow area, which he said is expected to be completed by the end of July.
An overflow parking area is being constructed near the picnic pavilions. – Joe Hendricks | Sun
“That is the last and final parking and drainage improvement,” Logan said of the final work taking place.
Formerly comprised of shell and sand, the Coquina Beach parking spaces are now paved with permeable concrete which contains gaps that allow water to drain down through the pavement and into the new drainage elements below.
A visit to the Coquina Beach parking lot on June 27 indicated that, with the exception of the overflow area, the entire parking lot was finished and available for parking.
The improvements made to the north end of the Coquina Beach parking lot are complete. – Joe Hendricks | Sun
The Coquina Beach drainage project started at the south end of the beach parking lot in May 2019 and included the removal of approximately 100 Australian Pine trees. County staff said the trees needed to be removed in part because their expansive root systems would hinder the drainage and paving improvements. As the second phase of the project moved north, approximately 87 more Australian pines were removed. Although many Australian Pines were removed, many still remain in place, including those along the recreational trail between the parking lot and the beach.
When the county commission approved the phase two plans and tree removals in 2020, the estimated phase one cost was $3.36 million and the estimated phase two cost was $3.62 million.
BRADENTON BEACH – City commissioners and department heads met to hold the first of several discussions for the 2023-24 fiscal year budget.
At the June 20 meeting, the proposed budget of $4,332,075 was rolled out with an increase of $356,703 over the previous year. Some of the largest increases came from a rise in insurance premiums and salary increases for cost of living adjustments.
Two public hearings on the budget will be held in September prior to the end of the fiscal year on Sept. 30.
Attending the budget discussion meeting were Mayor John Chappie, Commissioners Ralph Cole, Jake Spooner and Jan Vosburgh, Police Chief John Cosby, Building Official Steve Gilbert, City Clerk Terri Sanclemente, City Treasurer Shayne Thompson and Public Works Director Tom Woodard.
The budget categories for discussion were Administration, Commission, Police, Emergency, Building, Code Enforcement, Streets and Roads, Storm Water, Facilities, Pier, Capital Projects and Library.
“We take each one of these and we have a motion to approve as presented,” Chappie said.
“Our biggest increase, of course, is salary,” Cosby said, “with our new guy hired in place. There is an increase with travel and education. The reason for that is in order to keep up with the culture in law enforcement, training is number one. The state is also requiring us to get that done. It’s not always held in our region so we have to travel to get that done.”
The other increase in the police budget is insurance, Cosby said. The department had the same policy as last year, but it increased in price by 10.1%.
“The city’s liability insurance went up 85%,” Cosby said.
“We took out some street signs and that helped stabilize this increase,” he said. “Just the damage that was done to the north fence from (Hurricane) Ian, that fence replacement was almost $27,000. All those things are going way up in price. We did take some things out that weren’t worth insuring.”
The proposed budget for police is $1,772,869, an increase of $143,608 from the previous year.
Cosby added overtime to the code enforcement budget, citing the requirement for the code enforcement officer to work on weekends to monitor illegal construction, parking enforcement and to help with Turtle Watch.
The proposed code enforcement budget is $103,555, an increase of $16,084 from the prior year.
Gilbert said there was one increase in building inspection services, which the commission approved on June 18.
“There is an 8% cost of living increase,” Gilbert said. “There were increases in insurance.”
Gilbert, who is on salary, will not receive a salary increase.
“There has been no real change to commission,” Sanclemente said.
“Insurance has increased a little bit,” Woodard said. “Other than that, I think we’re in good shape.”
“Of course, our streets are getting done with Woodruff,” Chappie said, referring to the sewer project on Gulf Drive in which contractors will be repaving the roads. “That will save the taxpayers a lot of money.”
“We’re meeting our budget, you’re all fiscally responsible,” Chappie told the department heads and commissioners.
He said the city should have 25% in reserves and is trying to stay above that at 30%.
“We’re looking at how we can save the city money,” Chappie said.
A millage meeting is set for Tuesday, July 11 at 9:30 a.m. at City Hall, 107 Gulf Drive N. in Bradenton Beach.
