FLORI DE LEON Apartments Co-op, Downtown St. Petesburg

Sign welcoming you to Flori-de-Leon Apartments Co-op

Flori-de-Leon Apartments, built in 1926, became the first cooperative residential building on Florida's West Coast.  Co-ops are actually more numerous in Manhattan than condos, but in St. Petersburg and most areas of the country there are far fewer than condominiums.  Briefly, how does a co-op form of ownership differ from a condominium?  If you posess a condominium, you actually have a deed to your own unit, as well as a certain specified percentage of the common areas such as outside walks, roof top garden, recreation facilities etc.  

A cooperative owner does not actually own his or own unit.  He or she owns shares in the coooperative association which as a corporate entity owns the entire building, individual units as well as the common areas.  In the Flori de Leon Apartments like most co-ops, all of the utilities--including electric, water, sewer, trash, maintenance of building, full-time manager,--are paid through the HOA dues.  These currently run from about $1515 to almost $3400 quarterly.  The HOA fees vary according to the size and location of the individual co-op apartment within the building.

Front courtyard off of 4th Ave N.

http://www.florideleon.org/


The HOA operating fees

MT. VERNON 55+CONDOMINIUMS, Downtown St. Petersburg

.Built in 1936, the Mt. Vernon Condominium is located in a relatively compact two compact two story plantation style residential in the heart of downtown St. Pete  Its location is prime for those who seek to live a very walkable urban lifestyle..  A two block stroll takes you to movie theaters, and the Gourmet Locale Market in the upscale Sundial complex. Then in another direction a few blocks takes you to the restaurants, gallaries, and museums of Beach Drive.  Mt. Vernon is not an age restricted community but I've included it as it is one of the few relatively affordable communities in downtown St. Pete. 



Built in 1936, the Mt. Vernon Condominium is located in a relatively compact two compact two story plantation style residential in the heart of downtown St. Pete  Its location is prime for those who seek to live a very walkable urban lifestyle..  A two block stroll takes you to movie theaters, and the Gourmet Locale Market in the upscale Sundial complex. Then in another direction a few blocks takes you to the restaurants, gallaries, and museums of Beach Drive.  Mt. Vernon is not an age restricted community but I've included it as it is one of the few relatively affordable communities in downtown St. Pete.  

One enters the good sized lobby-- which is also the major interior common area--to be greeted by a seating area highlighted by vintage furnishings and a grand piano.  There is relatively little turnover among the twenty units in the building.  The most recent sale as of this writing was in April 2015 of a 909 square foot 2 bedroom, 2 bath unit for $195,000.   The MLS indicates that the monthly HOA fee on this unit was $548.  This unit had an updated kitchen, but like most of the units have retained some or all of the original hardwood flooring, crown moldings, and baseboards.  This gives the entire building a peaceful and settled feeling of elegance of a bygone era. In spite of its urban location, there is a swimming pool and hot tub and small sitting areas outside in back.  The secure building also has its own small fitness center.

Advantages & Pitfalls of Community Living

Advantages & Pitfalls of Community Living


Many retirees will find that Florida's over-55 communities offer a lot of advantages for them. However, they are not the right living choice for everyone! Some retirees may not desire to live under the rules and regulations (often rigidly enforced!) that necessarily accompany such community living such as leasing or pet restrictions. Others may not like the age segregation, and desire to live with neighbors of all ages. It's true that over-55 communities are generally quieter than all-age condo or apartment communities, and they are often less expensive for similar space. During the past decade, the population of Pinellas County has actually gotten younger on average. That's probably why over-55 communities in the current Pinellas County real estate market often offer more value for the money than non age-restricted condominiums. Many retiring baby boomers will doubtless be attracted to the St Petersburg area as a retirement destination, and I suspect this situation will change during the next decade.

Many retirees just moving to Florida desire the "built-in" sense of community that many complexes offer. You are likely to be living with people from similar backgrounds and interests as you. Many seniors want to be free of yard work and exterior maintenance at this stage in their lives, but they still want the advantages and sense of security of owning their own residence. What's more, Florida's generally balmy weather induces many to desire such outdoor features as swimming pools, tennis courts, shuffleboard courts,broad green lawns, and even docks. Most of our local over-55 communities offer all or most of these amenities without the expense and maintenance required for those who live in an individual single family residence.

External Amenities & Parking

The existence of desirable recreational amenities is only one among many considerations when a prospective buyer is comparing communities. What about the parking situation? How important is under-roof parking such a carport or garage to you. Keep in mind that the hot Florida sun and sudden torrential downpours can make a mess of automobile finishes. Is there sufficient space for guest parking? Is there a club house and/or organized group activities that interest you? How well maintained are the grounds and community areas? Even though most local active over-55 communities are four or five decades old, the great majority are very well maintained. Also, they were constructed when land in this area was far cheaper, and so often have far more green space per unit than communities constructed more recently even in less urban areas.

Lower Priced multi-story condo buildings often offer under roof
parking like this at Five Towns.

Legal & Association Governance Considerations

Equally important are the less visible aspects of the particular community you are considering. These include the legal and ownership structure. Is the community governed by a Homeowners Association or a Condominium Board? Does it hire a professional management company for day to day management and accounting? Is the underlying land leased or owned? What do the condominium documents, rules and regulations, stipulate about such important topics as pets, the right to lease your unit to others, and age restrictions on owners, occupants, and guests. What specific interior and exterior changes can an owner make to a unit without HOA approval?

Finances of the Homeowners Association (HOA)

Another vital consideration is the financial health of the building and/or complex. As the current Treasurer on the Board of my Homeowners Association, I've learned a lot about the financial and legal aspects of associations that govern such communities. These are critical. Let me repeat: Over-55 communities aren't necessarily the right choice for every retiree. Remember you are not simply purchasing your own unit but you are buying into an association--both its assets and its potential liabilities. As a resident you should pay close attention to your HOA and be prepared to volunteer as a participant.

Community tennis courts at Long Bayou

What do the Home Owners Association's financial statements say about the community's income, expenses, and reserves? Are too many of owners behind in their HOA payments? Under Florida law, the prospective buyer of a condominium or town home governed by a homeowner's association must be provided a copy of the latest financial statements as well as the governing documents for the community. The buyer then has three days to review them and, if they are not satisfactory to the buyer, he or she can back out of the transaction. One community may appear to offer the "advantage" of lower monthly HOA payments, but a diligent review of its finances could show that it is not building up sufficient reserves for expensive items such as road and parking space repairs, exterior building painting, and replacing the roof. Lower monthly HOA fees are hardly a plus if you will face an unplanned $6000 roof replacement assessment in the future!

A prospective buyer also needs to consider what utilities and insurance are included with the monthly HOA payment. Water, Trash, and county or municipal sewer charges are normally included as well as exterior maintenance. Basic cable TV service is often included as well. Exterior building insurance (which generally is comparatively costly in Florida) is almost always included. In areas deemed FEMA flood risk zones, this may also include building flood insurance. .

Buyer Due Diligence

This was just a cursory overview of a few important considerations that prospective buyers should keep in mind about any community association. Again, it is imperative that a prospective buyer needs to read the condominium documents and the rules and regulations very carefully. Most communities require that future residents meet with members of the Board for an interview and review of rules and regulations etc. Be sure at this point to raise any specific questions you may have about the condo docs and rules. In addition, I always recommend that my clients try to speak informally to residents they encounter when viewing the property.
You will find that most people are happy to speak to prospective residents about what life is like in that particular community. Below I've attached a link to an article about this very subject--"Seven Questions to Ask Your Future Florida Neighbors" on the Florida for Boomers website:

http://www.floridaforboomers.com/7-questions-to-ask-your-future-florida-neighbors/

Tony Branch
Earnest Realty, Inc.
3136 3rd Avenue North
St. Petersburg, Florida 33713
727-460-7887 direct line
727-323-1706 office
stpetetonybranch@gmail.com
retirementlivinginstpetersburg.blogspot.com

PATRIOT SQUARE, 55+ SENIOR CITIZENS CONDOMINIUMS, SW.St. Petersburg

Patriot Square is a middle sized over- 55 community (about 200 units) situated in the southwestern part of St Petersburg.  Located near the boat docks of Maximo Moorings, it is convenient to the Bay Way and St Pete Beach on the Gulf.  Patriot Square is an easy three mile drive from the heart of Gulfport and about equally distant from Historic Kenwood and the Grand Central districts of St. Petersburg.  The well-built two story red brick exterior buildings remind me of an apartment house in which I once lived in Columbus, Ohio, built in the early 1970's, about the time Patriot Square was built.  Of course, the ample grounds with attractive, mature landscaping softens the traditional red brick exteriors.

Patriot Square is in the 2 areas above bordered in red.

All the residential buildings in Patriot Square have two floors.  The individual units range from one bedroom and two bedroom condominiums on one level to townhomes on two levels. In addition, there are some three and four bedroom units of up to 1600+ square feet.   Prices in July 2016 are beginning to rise, but run from about $40-$80,000 depending on size and specific location.   There is a much higher demand for first floor units which often sell quickly and at higher prices. Virtually all second floor units have screened in decks while the first floor units have screened in porches. The Clubhouse and principal swimming pool is the dividing line between the two principal sections (or Phases) of the community.   There is a calendar of social activities which gets busiest during the winter and early spring when the many "snow bird" residents are present.

As with many other over-55 communities, HOA fees are based partly on the relative size of the individual unit.  They run from about $300 a month for one bedrooms in Phase One to $460 a month for four bedroom units.   HOA fees in Phase Two (the southern part of the complex) are relatively higher primarily because Phase Two is located just over the line in an area that requires flood insurance for the buildings.

Mature Landscaping at Patriot Square

A large proportion of Patriot Square's inhabitants are part year residents who typically come from the Northeastern states as well as Michigan, Ohio, and Ontario, Canada.  There are a lot of social activities available for those who want to.   Patriot Square is a well kept up and well governed community and conveniently located.  There are two potential drawbacks that should be mentioned:  There are no elevators between the first and second floors so that units on the second floor are only accessible by concrete stairs.   Also, there are assigned parking spaces and ample parking also for guests.  However, none of it is covered parking. 


Tony Branch
Earnest Realty, Inc.
3136 3rd Avenue North
St. Petersburg, Florida 33713
727-460-7887 direct line
727-323-1706 office
stpetetonybranch@gmail.com
retirementlivinginstpetersburg.blogspot.com

CHALET ON THE LAKE CONDOMINIUMS

Front of Chalet on the Lake

Chalet-on-the Lake is one of the few all-age communities I've included in this blog.  That's because its great location in the north central area of St Petersburg and the tremendous value it offers. 

First, the location of this well established community is quite good for those who want easy access to all the urban amenities that St. Petersburg offers yet live in a tranquil semi-suburban immedate neighborhood.  Located directly north across Library Lake from the recently renovated and spacious city Main Library,  most Chalet-on-the Lake condominiums have great waterviews. Considering its very convenient in-town location in a desirable neighborhood, I think there is exceptional value in the moderate prices (one bedroom, 880 square feet units priced in the low 40's and two bedroom 1240-1305 square feet units from $60-75,000).  The monthly HOA fees are relatively modest (about $260 a month in mid 2015) that includes trash, water, covered parking, and basic cable.  That modest HOA fee probably related to the fact that this complex is located in one of the highest elevation areas of St Petersburg.  Chalet-on-the Lake is located in a non-evacuation zone that does not require flood insurance.

As one might expect with its location in-town, the grounds are fairly modest in size.  However, most of the units have great views of greenery and the Library Lake out their back windows.  There is a community swimming pool on site as well.

Covered parking lot area of Chalet on the Lake

There are only about four dozen condominium units in Chalet-on-the Lake.  Moreover, there is a very modest turnover so you may have to wait awhile to find one on the market.

Swimming Pool area at Chalet-on-the Lake

Tony Branch
Earnest Realty, Inc.
3136 3rd Avenue North
St. Petersburg, Florida 33713
727-460-7887 direct line
727-323-1706 office
stpetetonybranch@gmail.com
retirementlivinginstpetersburg.blogspot.com

WINSTON PARK NORTHEAST

Winston Park NE Location

Winston Park Northeast Condominiums were built from 1971-1979.   It consists of nine separate three-story buildings governed by four separate condominium associations.  The individual units range in size from one bedrooms to two bedrooms and two baths.

If the first law of real estate is "location, location!", then Winston Park has a lot going for it.  It is situated on a large parcel of land (purchased at 1971 prices) in what is becoming the increasingly upscale Northeast section of St. Petersburg.  It is located just four blocks east of the 4th street corridor with a wealth of restaurants and fast food outlets (many "healthy") as well as gourmet and specialty markets like Trader Joe's & Fresh Market. Moreover, just a few blocks east are some of St. Petersburg's nicest single family residential neighborhoods.

Back of one of the condo buildings

 The condominium buildings surround a very large green area with a courtyard effect.   Yet, condos in this community are surprising in their modest price, ranging from about $40,000 to $70,000 as of this writing in mid-2015.  What's more, monthly HOA fees average about $300 or less which is modest considering the recreational facililties, green space, and both building and flood insurance they cover in addition to trash and water.   Moreover, over the years Winston Park NE has been able to put aside healthy financial reserves.

Unusually spacious green space in the center of the complex

                                  
The only pets permitted by most of the associations are cats under 15 lbs.   Winston Park NE with its very nice recreational facilities, and club house has many opportunities for an active social life, especially during the winter and spring when "snow birds" are also in residence.

Swimming Pool in back  of Club House Building

Tony Branch
Earnest Realty, Inc.
3136 3rd Avenue North
St. Petersburg, Florida 33713
727-460-7887 direct line
727-323-1706 office
stpetetonybranch@gmail.com
retirementlivinginstpetersburg.blogspot.com

PALMS, VILLAS, AND CONDOMINIUMS OF LONG BAYOU

                                                                  LONG BAYOU

                                      Website:    http://longbayoucondos.com/ 


Long Bayou is a large and varied community originally built during the 1970's.  Some sections are strictly over 55 while others are not age restricted.  As the name implies, it is situated on the edge of a large bayou which is an off shoot of Lake Seminole immediately to its north.   It is a gated community with access controlled 24 hours a day.   

Townhome entrance at Long Bayou

There are many different varieties of accomodations ranging from one and two bedroom condominiums to town homes, villas, and even an area of single family homes.  Prices range in mid 2015 from $60,000 to well over $200,000.    It is a gated community with a 24 hour guard at the entrance.  The extensive green space is impressive and the beauty of the bayou has largely been preserved.   You won't think you are in the middle of a major metropolitan area.

One of the condo buildings at Long Bayou

Recreational facilities abound at Long Bayou including a large club house, several swimming pools, tennis courts,






Tony Branch
Earnest Realty, Inc.
3136 3rd Avenue North
St. Petersburg, Florida 33713
727-460-7887 direct line
727-323-1706 office
stpetetonybranch@gmail.com
retirementlivinginstpetersburg.blogspot.com

FIVE TOWNS/TERRACE PARK OF ST PETERSBURG

                     http://www.fivetownsterracepark.com/fivetowns/outside_home.asp

                                                                           

Five Towns/Terrace Park is one of the largest over- 55 communities in the greater Tampa Bay area.  The first building was constructed in 1971 with various stages through the 1970's and 1980's.  Today there are about 1700 units in 35 buildings ranging from three to six stories in height. There are over 3500 residents during the height of the winter/spring season. This sprawling complex is located in an unincorporated area tucked between the northwest part of St. Petersburg and Seminole.

Green vistas abound at Five Towns

The sturdy concrete block buildings are varied in color and are situated among acres of well-kept spacious landscaped grounds that include six man made lakes and three ponds.  The recreational facilities include one hot tub and six swimming pools, of which two are heated.  There are two recreational halls--the Magnolia and the Oleander--that contain many rooms for all kinds of activities, a dedicated gym, library, as well special rooms for billiards and card playing.  There is even a computer lab in the Oleander hall.

Swim pool behind Oleander Club House, 5 Towns

Outdoor activities abound including tennis, bocce ball, and shuffleboard courts,and gazebos with gas grills.  The complex includes both a gentleman's barber and lady's beauty shoppe and a doctor's office on the premises.   Five Towns/Terrace Park is located quite close to a shopping center with eating places and a Publix super market and relatively convenient to all kinds of shopping, churches, and the Gulf beaches.

Each of the associations have different regulations regarding pets.  Some buildings do not allow pets while others permit pets with weight and number restrictions.  Prices for resale units in mid-2015 range from as low as $28,000 for a one bedroom unit of 745 square feet in need of renovation to $145,000 for an updated unit of 1700+ square feet in a prime location.


Tony Branch
Earnest Realty, Inc.
3136 3rd Avenue North
St. Petersburg, Florida 33713
727-460-7887 direct line
727-323-1706 office
stpetetonybranch@gmail.com
retirementlivinginstpetersburg.blogspot.com

TOWN SHORES OF GULFPORT

• http://www.townshorescommunity.com/#!live-here/cxvn

Town Shores encompasses several blocks in both directions from the club address above.

Town Shores is a large over-55 community located in the picturesque village of Gulfport, which is adjacent to St. Petersburg's southwest neighborhoods.   Built in the 1970's Town Shores incorporates 18 separate buildings (each with their own governing association) with about 1300 individual condominiums.   Town Shores.  It is nestled on the edge of Boca Ciega Bay which affords superb marine views for many its condominiums.

Town Shores of Gulfport offers all the amenities of other large complexes including a large central club house with an auditorium, billiard room, library, lounge, poker room, 2 bocce ball courts, 11 shuffleboard courts, 28 boat slips, 1 tennis court, and 4 heated pools.  Units are moderately priced in a range as of mid-2015 from about $80,000 for a one bedroom, 1 bath with no special view to a $280,000 2 bedroom, 2 bath unit with, to quote the MLS listing, "breathtaking marine views."

What makes Town Shores exceptionally appealing to many active retirees (especially those who are nostalgic for the 60's) is its location near the center of the picturesque, artsy village of Gulfport.   Beach Dr. is the main drag that offers varied dining establishments, galleries, and charming little shops--not to mention that the Gulfport 1930's style Casino and pier--is at the foot where Beach Dr. meets the edge of Boca Ciega Bay.  Outdoor waterfront taverns--with a very diverse clientele-- are almost always busy. During the regular Art Walk held twice a month on Beach Blvd. , one is likely to spot several local denizens wearing  t-shirts or blouses emblazoned with a favorite local slogan, "Keep Gulfport Weird"   What is scarcely found in Gulfport are big box stores or national chain stores of any type. The only mass market fast food outlet in town is a McDonald's, located on Gulfport Blvd., a major thoroughfare some distance from the galleries and independent restaurants of Beach Dr.   Just a few miles north on Gulfport Blvd., however, one comes to the border of South Pasadena, a town with a largely retiree population living in waterfront condos.  Here there is ample shopping with supermarkets, many chain stores, and food outlets typical of suburban America.  

Gazebo aside Boca C iega Bay at Town Shores

Gulfport started out in the early 1900's as a fishing village on Boca Ciega Bay. Even today, Gulfport still manges to combine the ambience of a sleepy Old Florida waterfront town with the sensibility of a hip artists haven. Its unique laid-back, festive, atmosphere and liberal political climate have led some to dub it "Key West North".  However, Gulfport is less touristy and certainly far less expensive and geographicaly isolated than Key West.  Just a few miles north and east of Gulfport are the urban amenities, shopping, cultural events, healthcare facilities, and entertainment centers of St. Petersburg. To the immediate northwest of Gulfport is the largely residential community of South Pasadena with the Gulf beaches just a few miles beyond.

Gulfport informational website

                                            "Getting Weird in Gulfport"  U-tube video
                                     

in
Video about Town Shores, Gulfport

https://www.youtube.com/watch?v=l-cLrszBbOs


Tony Branch
Earnest Realty, Inc.
3136 3rd Avenue North
St. Petersburg, Florida 33713
727-460-7887 direct line
727-323-1706 office
stpetetonybranch@gmail.com
retirementlivinginstpetersburg.blogspot.com

BOCA CIEGA POINT--Waterfront Community between Madeira Beach & Seminole

                http://bocaciegaadultcommunity.com/
                      

SEA TOWERS--Over 55 Complex On the Edge of Madeira Beach

Website:   http://www.seatowerscondos.com/seatowers/home.asp

Sea Towers high rise buildings

Sea Towers is a very large complex consisting primarily of high-rise buildings (12 stories) situated on the edge of Boca Ciega Bay. Although it carries a St. Petersburg postal address, Sea Towers is actually located in an unincorporated area ten miles from downtown St Pete.  Sea Towers is situated just over the northeast boundary of the city of Madeira Beach.  Its especially appealing to those who always wanted to live close to a beautiful, warm, white sandy beach as Sea Towers is within easy bicycling or even walking distance to the Archibald Beach Park in Madeira Beach.  

A half mile from Sea Towers--
Beautiful Archibald Park at Madeira Beach

One downside for many prospective residents is the general Sea Towers rule that does not permit pets.

Sea Towers also features an extraordinary number of its own recreational facilities.  The high-rise buildings provide many of the condominiums with spectacular marine views that include both the inter-coastal and the Gulf of Mexico beyond.  What some may consider a somewhat stark and urban appearance of the buildings is mitigated by the green well-kept grounds, lagoon, and beautiful waterfront setting.  It is within walking distance to a beautiful new Publix supermarket, a waterfront smokehouse restaurant and tavern, and a Walgreen's pharmacy.  Sea Towers is also just a mile or so from many other restaurants, the post office at Madeira Beach, a large new Wal-Mart, and the large Bill Young Veteran's Administration hospital complex.

Spectacular sunset over the Gulf at Archibald Park, Madeira Beach

The governance structure of Sea Towers actually consists of a federation encompassing eleven different buildings, each of which has its own budget and rules.  Nonetheless, all Sea Towers buildings the complex share many amenities such as swimming pools, a lagoon circled by a running trail, tennis courts, an impressive central club house that includes a performance auditorium, and even a fishing pier.  The landscaping, roads, and common areas of the complex are exceptionally well-kept.  Sea Towers affords quite a secure living environment as a gated community with a 24-hour guard service at its only entrance.


Resale prices for individual units range from about $80,000 to $200,000 depending on size, condition, and views.  Monthly HOA fees vary depending on the specific building and size of the unit, but typically are in excess of $400 for 2 bedroom units.  For that the residents receive professional management services that provide superb maintenance of the grounds and facilities as well as basic cable, and both exterior building and flood insurance.

One of several swimming pool areas at Sea Towers

Video:  A Drive Around Sea Towers complex




Tony Branch
Earnest Realty, Inc.
3136 3rd Avenue North
St. Petersburg, Florida 33713
727-460-7887 direct line
727-323-1706 office
stpetetonybranch@gmail.com
retirementlivinginstpetersburg.blogspot.com

ADVANTAGES AND POTENTIAL PITFALLS OF COMMUNITY LIVING

                Advantages & Pitfalls of Community Living

                  
Many retirees will find that Florida's over-55 communities offer a lot of advantages for them.  However, they are not the right living choice for everyone!  Some retirees may not desire to live under the rules and regulations (often rigidly enforced!) that necessarily accompany such community living such as leasing or pet restrictions.  Others may not like the age segregation, and desire to live with neighbors of all ages. It's true that over-55 communities are generally quieter than all-age condo or apartment communities, and they are often less expensive for similar space.  During the past decade, the population of Pinellas County has actually gotten younger on average.  That's probably why over-55 communities in the current Pinellas County real estate market often offer more value for the money than non age-restricted condominiums.  Many retiring baby boomers will doubtless be attracted to the St Petersburg area as a retirement destination, and I suspect this situation will change during the next decade.

Many retirees just moving to Florida  desire the "built-in" sense of community that many complexes offer.  You are likely to be living with people from similar backgrounds and interests as you.  Many seniors want to be free of yard work and exterior maintenance at this stage in their lives, but they still want the advantages and sense of security of owning their own residence.  What's more, Florida's generally balmy weather induces many to desire such outdoor features as swimming pools, tennis courts, shuffleboard courts,broad green lawns, and even docks.  Most of our local over-55 communities offer all or most of these  amenities without the expense and maintenance required for those who live in an individual single family residence.   

                        External Amenities & Parking

The existence of desirable recreational amenities is only one among many considerations when a prospective buyer is comparing communities. What about the parking situation?  How important is under-roof parking such a carport or garage to you.  Keep in mind that the hot Florida sun and sudden torrential downpours can make a mess of automobile finishes.   Is there sufficient space for guest parking?  Is there a club house and/or organized group activities that interest you?  How  well maintained are the grounds and community areas? Even though most local active over-55 communities are four or five decades old, the great majority are very well maintained.  Also, they were constructed when land in this area was far cheaper, and so often have far more green space per unit than communities constructed more recently even in less urban areas.

Lower Priced multi-story condo buildings often offer under roof
parking like this at Five Towns.

            Legal & Association Governance Considerations

Equally important are the less visible aspects of the particular community you are considering.  These include the legal and ownership structure.  Is the community governed by a Homeowners Association or a Condominium Board?   Does it hire a professional management company for day to day management and accounting? Is the underlying land leased or owned?  What do the condominium documents, rules and regulations, stipulate about such important topics as pets, the right to lease your unit to others, and age restrictions on owners, occupants, and guests.  What specific interior and exterior changes can an owner make to a unit without HOA approval?

              Finances of the Homeowners Association (HOA)

Another vital consideration is the financial health of the building and/or complex.  As the current Treasurer on the Board of my Homeowners Association, I've learned a lot about the financial and legal aspects of associations that govern such communities.  These are critical.  Let me repeat: Over-55 communities aren't necessarily the right choice for every retiree.  Remember you are not simply purchasing your own unit but you are buying into an association--both its assets and its potential  liabilities.  As a resident you should pay close attention to your HOA and be prepared to volunteer as a participant.

Community tennis courts at Long Bayou

  
 What do the Home Owners Association's financial statements say about the community's income, expenses, and reserves?  Are too many of owners behind in their HOA payments?  Under Florida law, the prospective buyer of a condominium or town home governed by a homeowner's association must be provided a copy of the latest financial statements as well as the governing documents for the community.   The buyer then has three days to review them and, if they are not satisfactory to the buyer, he or she can back out of the transaction. One community may appear to offer the "advantage" of lower monthly HOA payments, but a diligent review of its finances could show that it is not building up sufficient reserves for expensive items such as road and parking space repairs, exterior building painting, and replacing the roof. Lower monthly HOA fees are hardly a plus if you will face an unplanned $6000 roof replacement assessment in the future!

A prospective buyer also needs to consider what utilities and insurance are included with the monthly HOA payment.    Water, Trash, and county or municipal sewer charges are normally included as well as exterior maintenance.  Basic cable TV service is often included as well. Exterior building insurance (which generally is comparatively costly in Florida) is almost always included.  In areas deemed FEMA flood risk zones, this may also include building flood insurance. .

                                Buyer Due Diligence

This was just a cursory overview of a few important considerations that prospective buyers should keep in mind about any community association. Again, it is imperative that a prospective buyer needs to read the condominium documents and the rules and regulations very carefully.   Most communities require that future residents meet with members of the Board for an interview and review of rules and regulations etc.   Be sure at this point to raise any specific questions you may have about the condo docs and rules. In addition, I always recommend that my clients try to speak informally to residents they encounter when viewing the property. 
You will find that most people are happy to speak to prospective residents about what life is like in that particular community. Below I've attached a link to an article about this very subject--"Seven Questions to Ask Your Future Florida Neighbors" on the Florida for Boomers website:

http://www.floridaforboomers.com/7-questions-to-ask-your-future-florida-neighbors/


Tony Branch
Earnest Realty, Inc.
3136 3rd Avenue North
St. Petersburg, Florida 33713
727-460-7887 direct line
727-323-1706 office
stpetetonybranch@gmail.com
retirementlivinginstpetersburg.blogspot.com

A LITTLE BIT ABOUT ME & WHY ST.PETERSBURG?

                                                    My Quest

I spent most of my professional life as a university level teacher (business and history) and senior member of the administration of a business school-- in the San Francisco Bay Area.   Towards the end of my career, I began searching for a good retirement location in the U.S, albeit one that offered a comparatively moderate cost of living, consistently balmy weather, and close proximity to beautiful beaches with warm ocean water most of the year.  None of those descriptors pertain to cool, often foggy and very expensive coastal central and northern California!

I wanted all the above but not in some isolated setting.  My quest was for a relatively urban and cosmopolitan environment, albeit one with a less frenetic pace of life (and again less expensive!) than much of California. A lot of research and some on-the-ground research travel suggested that the Tampa Bay area, and greater St. Petersburg in particular, seemed most nearly to fulfill all these requirements.  Nine years after moving into a very pleasant town home community located between St. Petersburg and Madeira Beach, it still seems like a very sound decision!  

The Salvador Dali Museum in downtown St Pete

Those not familiar with the greater St Petersburg area of Pinellas County may wish to visit the following website:

             http://www.visitstpeteclearwater.com/


My blog is not meant to be a travel pitch for the St. Petersburg area. Any cursory search on the internet will find that there's something to engage every kind of interest whether boating & fishing, cultural & artistic activities, or just being a "beach bum". Downtown St Petersburg in recent years has enjoyed a renaissance that puts it in the forefront of Florida urban centers with regard to museums, varied restaurants, waterfront parks, galleries, and general walkability.  Just last year Forbes Magazine commented on  St Petersburg's bustling artistic and food scene:

http://www.forbes.com/sites/forbestravelguide/2014/02/20/sampling-st-petersburgs-new-art-and-food-scene/

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                                     Some of the residential condo towers in downtown St Pete

Another 2014 article praising St. Petersburg's art, cultural, and culinary vibe is National Geographic's "Move over Miami, The Best of St Pete":
   http://intelligenttravel.nationalgeographic.com/2014/06/06/move-over-miami-the-best-of-st-pete/

The Signature--luxury condos in downtown St Pete

Of course there is a price to be paid for the fact that downtown St Petersburg has been rediscovered as an urban treasure!  Newer high-rise two bedroom 1300 square foot condominiums downtown now often command in excess of $500,000, and those with magnificent bay views can go above $1 million.   However, keep in mind that there are some desirable but far more modest priced communities just a few miles away that allow you to be downtown in less than ten minutes.  

During the last eight years I've enjoyed a second career as a professional Realtor focusing on other mature folks as clients. My initial period as a realtor from 2007 through 2011 happened to coincide with the great real estate meltdown.  It certainly taught me a lot about the real world--the ups, downs, and potential pitfalls-- of Florida real estate.  

At the same that time, I've come to realize what a great opportunity for active retirees our many and diverse, local  over-55 moderately priced communities offer.  Most were built during the 1965-1990 period of the St. Petersburg area's greatest growth. Thus they usually are well established and well integrated with the existing community.  This distinguishes them in my opinion from most of the large newer communities built more recently in north central Florida's interior counties.  Of course, keep in mind that the age of most of these Pinellas County condos means that many of the individual units for sale may need considerable interior updating. As the current Treasurer on the Board of my Homeowners Association, I've also learned a lot about the financial and legal aspects of associations that govern such communities.   Over-55 communities aren't necessarily the right choice for every retiree, and there are some potential pitfalls as well as benefits to consider.  

I can't get entirely away from my past as a teacher!  Yes, this blog hopefully will hopefully provide information about the tremendous variety of communities that are available in Pinellas County.  Most importantly,  it is designed to help others--who are considering a move such as mine-- what issues to consider and questions to ask before they make a move.  I will make no special pitch for one or another of the already established communities that will be discussed over time in this blog.  I just try to present some important information (and some personal impressions) that might help the reader in selecting one community over another. Keep in mind that conditions change, and I make no representation as to the absolute accuracy of my observations.  This blog also includes some potential pitfalls as well as benefits of various communities. If one particular or any over-55 community is probably not a good choice for you, it is important that you know enough to conclude that before you buy!

One of our beautiful sandy Gulf beaches

Feel free to e-mail me with any questions you may have.  If you contact me to help you find the right seasonal or full-time residence, obviously that would be most welcome! On the other hand, should you already have your own local favorite agent, by all means use him or her.  I do hope that this guide can provide some useful information or at least help you to ask the right questions before making your ultimate decision.


Tony Branch,
Earnest Realty, Inc.
3136 3rd Avenue North
St. Petersburg, Florida 33713
727-460-7887 direct line
727-323-1706 office
stpetetonybranch@gmail.com
www.retirestpete.blogspot.com