Tampa Bay/Clearwater, FL (PRWEB) March 18, 2011
According to Tampa Bay Business Journal, nationwide consumer confidence has risen to 60.6, the highest it has been since May 2010. Florida consumer confidence has also risen – 77, up from 70 in December. This security in the economic future is leading Americans to purchase items they would not have purchased during the recession such as real estate. Case in point: condo sales have increased 11% in Florida. Waters Edge, the 26-story Downtown Clearwater landmark, now has over half of its units sold.
Smith & Associates Real Estate, who manages the sales for the Waters Edge property reports seeing tremendous reception from the market with sales being stronger than anticipated. Seen as one of the best values in the area for new construction due to its well-below-replacement-cost, Waters Edge has been the best selling condominium in Pinellas County since opening in July 2010 according to the MLS. Sales traffic over the last month has been very strong, averaging over 45 people visiting the property each week, as Waters Edge has new condos available that are 30-40% below the resale prices of its counterparts on Clearwater beach.
John Herndon and his wife, Kathy, who refer to themselves as Clearwater people have both lived in Clearwater since the 1950s. When the opportunity arose, they jumped at the chance to live at Waters Edge. I originally went to Waters Edge to show a friend and was so amazed by the spectacular views and quality of construction, I went to contract myself within two weeks, Herndon says. Our kids are now grown and Waters Edge fits our needs perfectlyI see the renaissance going on in downtown Clearwater as a very positive thing.
Waters Edge offers a variety of financing options including FHA, and is in the process of becoming Fannie Mae approved now that the property has sold 50% of the residences since opening at the end of last July. As an approved lender for Waters Edge, with another closing scheduled this month, Jim Watrous of Regions Bank is enthusiastic about the increase in condominium unit sales.
With Mortgage Loan Officer Lynda Ash, we are pleased to be actively lending in this high quality project, said Watrous. In a recent tour of the property, we were extremely impressed with the design quality, amenities and world class views. The values are supporting a resurgence in Downtown Clearwater property ownership.
During the buildings construction, the anticipated tower full of residents was expected to be the catalyst for the Downtown Clearwater renaissance. Now, with the building half-full, Downtown Clearwater is beginning to boom.
Restaurants and boutiques have been cropping up in the adjacent 400 block, with Tonys Pizzeria and Ristorante and Peter Gillhams Nutrition Center both relocating and expanding their now larger establishments to addresses closer to Waters Edge. Blast Friday has also migrated down the street and is held right in front of Waters Edge. New businesses have opened up such as Caf