Great location. Great floor plans and they generally bring multiple offers when priced right. Make sure your agent protects your interest and that you don't get into a long standing contract with a short sale. This is another development that was built in the high end of the market and sold for prices you may not see again for many years. In June I was advised by the management company that it was in the process of transfering control from the developer to the homeowners association. I'd check to make sure that took place. There were a few put on the market that were never lived in and definitely over priced based on my research. Also there are water areas in the development and I would check to see how they are maintained for mosquito control. No matter when or where you buy be sure you are paying market value at the time. Good luck with your move.

Without reading all of the agent's answers, afbro is right about the market. It is unlikely it has bottomed out. Though personally I think St. Pete is pretty close to the bottom.

BUT - Here's the real questions you need to ask yourself. How long do you want to live there, and do you think the market will ever be better than it is today? Specifically, when you want to sell in - lets say 5 years - do you think the world will be a black hole, or will we have come out of the great recession and things will be moving along again.

Personally, I have decided to buy. I know the value of the house I buy may drop a bit over the next year, but frankly my dear, I don't give a damn! :) I'm not selling in a year- so it really doesn't matter. I plan on selling in 5 or 10 years, or maybe just renting it out once I'm ready for a new place. But I feel confident in 5 to 10 years, things will be back to moving along, so it sounds like a great investment to me!

Time to get out there and find yourself a place!

Good Luck!!

My, don't these real estate "experts" sound like idiots now. Of course they would tell people the time is right to buy--they win no matter what. Up, down, sideways market they get their commission. The area will not bottom out until at least end of 2010--do your own research (internet, florida economic reports, etc). Don't listen to the gravy train!

Retired Military Guy looking in St Pete

Hi James, I will send you what is available at baybreeze in this size. Let me know when you want to see them or if you have additional questions.

I am interested in buying a 3/2.5/2 garage unit in this community...interested parties please contact me with details at jdammu@yahoo.com

I have a great unit available at Bay Breeze cove! The owner was one of the original purchasers so he got a great deal on this 2 bed/2bath/1car garage unit. We are currently asking $199,900.
The complex is very well kept by DR Horton development. They are planning to start the 2nd face of the complex as soon as the market picks up.
Great location off of 4th Street, walk to Starbucks and restaurants. Quick easy drive to downtown, airport, Tampa, Clearwater. I have additional info on my website or you can contact me directly if you would like to see it.

As far as market conditions - it really depends on how long you plan to own. Buying something short term is not a good idea in this market.

CD,

Now is a great time to be considering buying property. There is a vast inventory to choose from, sellers will negotiate their prices, and interest rates are very reasonable.

One of the things buyers are having difficulty with is buying today and six months later finding out their home is worth less than when they bought it. This is the "short term" complex........If you are buying for the long haul 5, 10, 12 years, history has show real estate to be a sound investment. Smart investors are buying now because of this very same principle.

Regardless of the market....buying a home that is your ideal home, in a great location, and offered at a super price..............represents a sound long term investment.

Good luck,
The "Eckler Team"

Now is an excellent time to buy a home in St Petersburg. Prices have dropped considerably from just a few months ago. Every buyer has different lifestyle requirements in a home. You must look for the area you like and then look for a home that can offer both value and quality in today's market. Good luck in your search. Please let me know if I can be of any assistance.

Bay Breeze Cove is a nice place to live as a renter, but I would never buy in this community because there is no visitor or extra parking of any kind. If you live in a 2-bedroom unit, you get a 1-car garage and a driveway, but if the person in the driveway is home and the person in the garage wants to go somewhere, you have to play musical cars. Also, if you have friends over, they have nowhere to park, except for illegally in the street, and the neighbors will call the cops and have them ticketed and/or towed. It's just my opinion, so for what it's worth...I wouldn't buy here if I were you.

CD, your best answer will be to ask in 4 or 5 months. If in 4 months prices are still about the same or increasing, it time to consider the purchase, which I think they will. If they continue to fall, wait a couple more months and re-evaluate the price. Nobody can give you a true answer, only our opinions, but you have the gift of time to see the answer. Feel free to visit my website or contact me direct, to help you make this decision. You can search the MLS, straight from my site and get daily updates. Thanks.
Mike Ceparano, 813-417-6698
ceppym@yahoo.com

CD,
I have to say that I am not quite as doom and gloom as some of my fellow realtors here in St Petersburg. Yes, are the prices lower than we would like. You betcha. But everything is being compared to the enormous balloon of 2005-2006 which we all know was ridiciulous. Prices are just about bottomed out and there are some great deals out there. In Bay Breeze Cove a 3/2/1 sold for $215K that was originally listed for $255K after only being on the market for 13 days in October, 2007 the exact same size townhouse sold for $247,900. So, yes, based on the available information I would say it is a good time to buy a townhouse in Bay Breeze Cove. Call me, I'd love to help.

CD,
Unfortunately the market is still moving down and overall will probably see them go in that direction through the year. That does not mean there are not any great deals to be found. In my opinion this area will be one of the first to rebound as we are still one of the most desireable areas around. Interest rates have begun to move a little higher so please keep this in mind as well as you begin your home search.

As far as Bay Breeze Cove is concerned it is a nice community. Yes, there are a lot of homes available and this is due to the fact that when the project was launched it was flooded with investors. They bought these homes with the hopes values would continue to increase which did not happen and now there is plenty of inventory. There are also a number of renters in the community at this point as some are holding out until the market changes. There are a number of other good townhome communities in the area that are also newer, if this is not something your are interested in.

We have done a number of loans in the Bay Breeze community as well as others so can provide some information as to the area. I also work with some great realtors if you need some information that I cannot provide.

On behalf of St. Petersburg, welcome from Buffalo.

Kindest regards,
Darin

CD,

I know a lot of people, especial Realtors, could predict the future, especially in these tumultuous times in today's real estate market. You have every right to be concerned about what things are going to be like in the next 6 months. I don't see any noticeable improvement. Some people feel we've hit the bottom & we're going to be flat for some unknown period of time but ... I don't think so.

Between now & the end of 2008 there is still going to be a tremendous number of creative sub-prime loans being re-set. I think that is just going to compound our current situation because that should generate even more foreclosures than we already have. Some sellers are finally "getting it" & reducing their asking prices which is a good thing for the market but I think we have a long way to go.

Regarding your question about Bay Breeze Cove specifically, it wouldn't be my first choice. It's in an area of town that is just so-so for starters. Currently there are 9 townhouses listed & they run the gamut from $179k to $274k. 4 of the 9 are in a short-sale (per-forclosure) situation. 3 or 4 of the others appear to be owned by investors who never lived in the units, which were built in 2005 & they're apparently trying to dump them at significantly less than they paid for them. One is tenant occupied, which probably indicates the same thing. There is only 1 that is owner occupied & the comments say he paid $279k & he's asking $255k.

I do feel that there are some great values to be had due to our chaotic situation. You just need to be a smart shopper & choose a Realtor who you feel you can trust & work with well. If I can be of any service either now or when you decide to come down to do some serious shopping please give me a call. I've included a link to my website.