Madeira Beach Condo-Hotel Resort

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Looking for a condo on the beach as a second home?
The new Madeira Beach Condo-Hotel Resort is on our list of new construction opportunities. This luxury development is the ticket to owning a condo in a popular beach resort destination with a return on your investment. The purchaser receives a fee simple deed to the property along with tax and real estate appreciation benefits. When the unit owners or their guests want to use the unit, they schedule their stay with the hotel. While there, they enjoy all the conveniences and amenities of the hotel including concierge, spa, room service and maid service upon request. When not in use, it can be rented through the well established rental program with no worries about maintenance and upkeep. It’s the best of both worlds!

Madeira Bay Resort, located just steps from the white sands of Madeira Beach. It is a mixed use development consisting of townhouses, Condo-Hotels, restaurant and a marina. The totally redone, 44 slip marina with deep water boat slips has a direct outlet to the Gulf of Mexico past the famous “John’s Pass Village”. John’s Pass Village is considered one of our most popular tourist destinations offering shopping, restaurants, music, water sports, boating, deep-sea fishing, sightseeing and of course our famous Gulf sunsets.

The Madeira Bay Condo-Hotel Resort buildings feature Mediterranean architecture, lush tropical landscaping, a heated swimming pool , Ocean’s West Spa and the Mad Beach Fish House Restaurant with waterfront dining and cocktails. The 44 furnished luxury suites in the final phase contain 1 or 2 bedrooms and 2 bathrooms. Several feature an additional den or sitting area. All suites will include a washer and dryer, full kitchens with granite counters and balconies with Intracoastal Waterway or bay views.

The building has a secure lobby with 24/7 attended desk and amenities including a fitness room, conference/meeting room, restaurant, marina and heated pool and spa.
Pre-construction prices start at $239,900, but there are only 44 suites available. The initial townhouses as well as the first phase of the 68-suite condo resort hotel quickly sold out pre-construction so now is the time to take advantage of the opportunity to be a part of Madeira beach’s largest and most successful all-suite hotel.

Mortgage Rates Still Under The Microscope

Mortgage Rates Under The Microscope

Industry analysts are having a difficult time agreeing on the direction of mortgage rates over the short term.  According to Bankrate.com, an even number (31% each) believes rates will either go up or stay the same over the next few weeks while 38% expect a further decline.

Mortgage rates, at a new record low of 3.62% for a 30-year fixed and 2.89% for a 15-year, tend to follow along with the 10-year US Treasury note.  As demand for Treasury bonds increase (considered a safer investment in times of economic uncertainty), the yield falls.

This trending of the mortgage rates record lows has brought some relief to the slowly recovering housing market.  According to the National Association of Realtors, pending home sales rose in May, matching the highest level in the past two years, and are well above year-ago levels. Monthly and annual gains were seen throughout the country.

We are certainly seeing a strong come back here in the Tampa Bay market!  Inventory continues at record low levels and the mortgage lender still have a tight fist around our buyers taking advantage of these low rates.  Lawrence Yun, NAR chief economist, said longer term comparisons are more relevant. “The housing market is clearly superior this year compared with the past four years. The latest increase in home contract signings marks 13 consecutive months of year-over-year gains. Actual closings for existing-home sales have been notably higher since the beginning of the year and we’re on track to see a 9 to 10 percent improvement in total sales for 2012.”

If you are interested in exploring a purchase along the pristine beaches of Tampa Bay, let The PURTEE Team help!  We bring the advantage of excellent market knowledge and experience to every transaction.
Contact us today!