Redington Shores, FL Development Defies Negative Market Trends
Despite the abundance of recent "doom and gloom" headlines about Real Estate and the Florida housing market, Redington Shores Yacht & Tennis Club is thriving along the west central Gulf coast of Florida
Redington Shores, FL (PRWEB) October 22, 2007 -- The Florida Association of Realtors® recently reported that statewide sales of condominiums declined approximately 25% in the month of August, 2007 compared to the same period last year. Several area condominium developments in the Tampa Bay area have been put on hold due to soft market conditions, such as the Indigo Beach Residences & Suites project on the site of the old Adam's Mark Hotel on Clearwater Beach.
Entrance to Redington Shores Yacht
In contrast, with more than $64 million in closed sales to date, the new Redington Shores Yacht & Tennis Club is thriving along the west central Gulf coast of Florida.
Redington Shores Yacht & Tennis Club is one of largest developments of its kind, located between St. Petersburg and Clearwater in Redington Shores. This 24 acre waterfront project includes a total of 120 low-rise condominium residences, all with direct water views, plus 69 single family building sites, many with bay and canal frontage.
Despite the abundance of recent "doom and gloom" headlines about the Florida housing market, this project continues to break area sales records. Broker Evelyn Page of Beach & Bay Realty LLC in Indian Shores, FL credits the success of this project to its total Florida lifestyle concept: "It's more than just a free standing condominium, it's an all inclusive waterfront community offering so much more for the residents, including secured access staffed 24/7, boat docks, cabanas, tennis courts and a clubhouse with fitness center, and all just across from the Gulf beaches. People are drawn to the whole package, and the prices are still very competitive."
Page noted that, with mortgage rates still low and property tax relief in sight as a result of a special session of the Florida legislature in June, many buyers are still capitalizing on the opportunity to buy at near pre-development prices.
Beach & Bay Realty LLC also reported increased interest from Canadian and European customers as the value of their currency continues to rank favorably against the
U.S. Dollar.
Copyright 2007 Beach & Bay Realty, LLC
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