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Glass House, a tri-level penthouse in downtown St. Petersburg\u2019s Signature Place condo tower, is on the market for $3.1 million. [Courtesy of Becky McConnell]

ST. PETERSBURG — For a limited time, you could own the loftiest penthouse in the Tampa Bay area.

Glass House, a tri-level condo in downtown St. Petersburg’s Signature Place, just went on the market for $3.1 million. Spanning the 34th through 36th floors, it will be the area’s most skyward condo until the 41-story ONE St. Petersburg tower is completed later this year.

Since listing the unit last week, “I’ve already had two showings with potential,’’ agent Becky McConnell said.

The seller, who is building a home on Snell Isle, is asking $1.265 million more than he paid for the condo three years ago. He has not made any changes to the 4,177-square-foot unit, which had undergone a massive renovation by its previous owners, interior designer Rob Bowen and Bob Glaser, CEO of Smith & Associates Real Estate.

They paid $1 million for the unit in 2012. Bowen’s team then spent 18 months stripping it down to bare concrete and eliminating all but one wall on the unit’s first floor to maximize the space and views of the city and the bay.

The condo’s base level, which has a wraparound balcony, contains the kitchen, living and dining areas with black-veined marble floors. An elevator provides access to a family room, home office, guest room and laundry on the second floor, and the master bedroom and guest suite on the third floor.

The most striking tower in downtown St. Petersburg, Signature Place at 175 First St. S also has been among the most problem-plagued.

The project was announced in 2005 at the peak of the real estate boom and neared completion just as the market collapsed in 2008. Plagued by slow sales, developer Joel Cantor had to slash prices and finally resorted to an auction to unload dozens of the 244 units.

In 2014, the condo association sued Cantor and others alleging that the building had numerous construction and design defects. For well over a year, much of the facade was sheathed in scaffolding as workers replaced stucco in danger of falling and made other repairs.

The case was settled last year and now “the scaffolding is down, everything is remediated and everything is paid for,” McConnell said.

Sale prices in the tower, which had tumbled during the repair work, have rebounded, although not to the level of condos with addresses on nearby Beach Drive. In the past six months, Signature Place units have sold for as little as $390,000 and as much a $1.225 million.

Glass House is the third-priciest downtown condo currently on the market, exceeded only by two units in Ovation on Beach Drive. The top asking price is $3.95 million for a condo owned by Mindy Grossman, former head of St. Petersburg-based HSN and now CEO of WW (the recently renamed Weight Watchers International).

https://www.tampabay.com/news/business/realestate/St-Pete-s-Glass-House-condo-hits-market-for-3-1-million-_172170874

Contact Susan Taylor Martin at smartin@tampabay.com or (727) 893-8642. Follow 
@susanskate.

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IRVINE, Calif. – Aug. 2018 – ATTOM Data Solutions’ Q2 2018 Pre-Mover Housing Index finds that Chicago, Washington, D.C., OrlandoTampa-St. Petersburg and Atlanta posted the highest pre-mover index in the second quarter of 2018 in the larger-metro category. ATTOM says a high score is “predictive of a high percentage of homeowners moving in the third quarter.”

ATTOM’s quarterly report looks at 36 metropolitan statistical areas (MSAs) with at least 500,000 single-family homes and condos using data collected from purchase loan applications on residential real estate transactions.

The Pre-Mover Housing Index is based on the ratio of homes with a “pre-mover” indicator compared to total single-family homes and condos in a given geography, indexed off the national average. An index above 100 is above the national average and indicates an above-average ratio of homes that will likely be sold in the next 90 days in a given market.

Among a broader set of 131 metro areas with at least 100,000 single family homes and condos, those posting the highest pre-mover index in Q2 2018 were Wilmington, N.C. (206); Colorado Springs, Colo. (178); and Manchester-Nashua, N.H. (172); followed by Chicago (168) and Washington, D.C. (166).

“A higher pre-mover index bodes well for local real estate agents, home improvement stores, moving companies and others that benefit from the halo effect of a home sale,” said Daren Blomquist, senior vice president at ATTOM Data Solutions.

“Meanwhile markets with a low pre-mover index likely have a scarcity of inventory available to buy or relatively weak demand from prospective buyers – or some combination of both – which is not optimal for businesses that rely on the home sale halo effect,” Blomquist adds.

ATTOM has a pre-mover heat map on its website that displays the likelihood of home sales by city.

States with the highest pre-mover index in the second quarter of 2018 – predictive of a high percentage of homeowners moving in the third quarter – were North Dakota (275), Illinois (193), Nevada (164), Virginia (163), and Colorado (147). Other states with a pre-mover index among the 10 highest in Q2 2018 were New Jersey (133), Florida (133), Delaware (130), Maryland (127), and Utah (124).

Florida cities ranked by pre-mover index ranking

  • Orlando-Kissimmee: 136
  • Jacksonville: 136
  • Tampa-St. Petersburg-Clearwater: 133
  • Lakeland-Winter Haven: 126
  • Ocala: 109
  • Port St. Lucie: 100
  • Palm Bay-Melbourne-Titusville: 95
  • Cape Coral-Fort Myers: 91
  • Deltona-Dayton Beach-Ormond Beach: 90
  • Bradenton-Sarasota-Venice: 87
  • Miami-Fort Lauderdale-Miami Beach: 85
  • Pensacola-Ferry Pass-Brent: 65
  • Fort Walton Beach-Crestview-Destin: 58
  • Naples-Marco Island: 53

© 2018 Florida Realtors®

This is a short & sweet infograph explaining some of the many things that professional Realtors do for buyers and seller. There are approximately 180 different items that we do in each transaction, depending on the situation. Below is from Keeping Current Matters.

5 Reasons to Love Using A RE Pro [INFOGRAPHIC] | Keeping Current Matters

 

  • Hiring a real estate professional to guide you through the process of buying a home or selling your house can be one of the best decisions you make!
  • They are there for you to help with paperwork, understanding the process, negotiations, and helping you with pricing (both when making an offer or setting the right price for your home).
  • One of the top reasons to hire a real estate professional is their understanding of your local market and how the conditions in your neighborhood will impact your experience.

 

Please join the Pinellas International Council from 9-4:30 on March 16, 2018 for our 7th Annual Global Real Estate Symposium. You will learn about International Tax Issues from Susan Poskus-always a crowd pleaser because of her extensive knowledge! Also Brent Parkway, of the Pinellas County Economic Development and April Kalapp of First American Title will be presenting. To end the day, why not earn some CE credits from Don Gonzalez, attorney followed by networking, wine and appetizers?!

Not bad for $10-$15 for the day. Become a Council member & the event is only $10.

You MUST register by March 9th.

7th Annual Global Symposium 3-16-18

 

If you are wistfully looking out the window right now wishing it were time for vacation, you are not alone. In fact, Sherwin-Williams just announced the 2018 color of the year, and it basically looks like vacation splattered all over your walls.

Break out your paintbrushes, because Sherwin-Williams announced their 2018 color of the year
Image: Sherwin-Williams

by   http://www.sheknows.com/home-and-gardening/articles/1136438/sherwin-williams-2018-color-of-the-year

Sherwin-Williams has declared Oceanside their color of the year. It’s a deep blue-green hue that can’t help but make us think of travel. We want to be sitting by the ocean enjoying the breeze. Instead, we’re at work. Dreaming.

“People today have a growing sense of adventure, and it is making its way into even the coziest corners of our homes. We are craving things that remind us of bright folklore, like mermaids and expeditions across continents,”  Sue Wadden, director of color marketing for Sherwin-Williams, told People. “Oceanside is the color of wanderlust right in our own homes.”

If a vacation isn’t on your horizon quite yet, then painting your house with the hues of the ocean is a great backup choice. And if you are looking to be part of the trend but painting your walls is not an option right now, there are lots of great accessories that give you the same vibe, but will also allow you to get your security deposit back. .

Here are some of our favorite accessories that closely resemble Oceanside and will give your home a nice burst of color.

Break out your paintbrushes, because Sherwin-Williams announced their 2018 color of the year
Image: Etsy

This wall art found on Etsy is giving us all sorts of calming nature vibes.

Break out your paintbrushes, because Sherwin-Williams announced their 2018 color of the year
Image: JCPenney

We also love this fantastic hand-tufted rug, a great way to brighten even the most basic of room decor.

Break out your paintbrushes, because Sherwin-Williams announced their 2018 color of the year
Image: Ikea

Or, finally, this blanket from Ikea is a fun way to brighten up your drab couch.

On October 18th the Pinellas International Council held it’s monthly International Marketing Session with Martha Vasquez presenting on Canada. Martha shared how to connect with and do referrals with Canadian realtors, helpful websites, and much more in the hour long presentation. We had a great turnout. Thanks to our speaker, the Pinellas Realtor Affiliates and all those who attended this very informative presentation.

 

 

 

Erroneous assumptions about the business can cause a ton of confusion for the public about how the real estate process works.

The real estate process makes everyone an armchair expert by default. The buyer, the seller, their friends, co-workers and neighbors all know how real estate works.

After all, the last time they bought or sold a home was 10 years ago, and in their view, not much has changed. Misbeliefs and bad information are a dangerous combination.

People don’t know what they don’t know, and what they do know is enough to create false perceptions of a profession that is often surrounded by damaging assumptions. Here are 15 real estate myths — busted!

1. Real estate agents are paid a salary

Despite what many think, the public is horribly confused about how agents make a living.

There must be a salary floating in the background that supports agents — after all, how is it that they can appear so well-groomed, professional and polished while hosting lavish broker events, open houses or other marketing activities, showing customers around town all day and buying them lunch?

Attention perpetual house shoppers and sellers just testing the market: the agent’s time and expenses are 100 percent on them.

Are you a rich broker, or a poor broker?
How to drive automation and profit from Robert Kiyosaki’s ‘Cashflow Quadrant‘ READ MORE

There is no base salary or reimbursement for the time and money they’ve expended no matter the outcome, whether it’s 500-plus messages or hours of research, advice, problem-solving, trouble-shooting, giving insight over the phone or making countless trips to show property.

How would you feel if your employer decided, as part of its cost cutting, to not give you a paycheck for your all of your work and effort, especially on a big project that involved a tremendous amount of time and effort on nights, holidays and weekends?

2. The agent keeps all the commission

First, the public needs to understand that commission is legally paid to the agent’s employing brokerage company, which in turns pays the agent.

Depending on what side the agent is representing (buyer or seller), their brokerage will earn the listing or selling side commission unless the agent happens to be handling both sides of the transaction.

It is a rare occurrence, but it does happen, and doing so is never a walk in the park.

No matter what the commission is, the amount paid to the agent is not the entire commission — the brokerage takes its portion (to be able to run the company to support its agents and keep the lights on), and then the agent gets his or her split.

The split varies based on the company, business model and the agent’s level of production.

There are usually additional fees that come off the top of the gross amount of commission being paid to the brokerage.

By the time all is sliced and diced, the resulting amount to the agent may surprise you. Then that agent has to remember to withhold money for taxes and social security. They make a living just like everyone else; the difference is the check doesn’t come every two weeks.

3. The typical commission is 6 percent, right?

Speaking of which, I recently had someone ask me this exact question.

The buyer wanted to purchase one of my listings and assumed that I would be receiving the “standard 6 percent,” to which I explained that all commissions are negotiable and vary according to a variety of factors with type of property, price and such in my market.

Every market is different.

4. An agent’s gas, mileage and other transportation expenses are reimbursed 

If only real estate brokerages had a “transportation fund” to reimburse agents for these things.

The 25 trips to show a buyer homes every time a new one hit the market — only for the buyer to wait and see if something better comes along.

The three days spent driving all over town with a relocating buyer who decides not end up moving to that city.

The umpteen trips to a listing, prepping for showings, and continually checking on the vacant property; or meeting vendors contractors, photographers, etc. — none of it is paid for by anyone but the agent.

Driving into new construction neighborhoods that are rife with tire-puncturing nails — the gas, tolls, vehicle wear-and-tear and maintenance — it all adds up, and it’s all on the agent.

5. Marketing expenses aren’t the agent’s responsibility

Speaking of things the public thinks a brokerage pays for on behalf of an agent — don’t forget the marketing expenses!

Think about the several thousand dollars for video production, 3-D tours, digital marketing campaigns, specialty websites, broker open house events, the local symphony quartet playing on a red carpet greeting prospective buyers — not to mention the design and printing of brochures and the like.

Yep, this marketing is brought to you by — your neighborhood friendly real estate agent (sorry no corporate sponsor was available), who didn’t ask the seller to contribute one dime, even after agreeing to discount commission to make the seller happy.

And when the seller doesn’t follow the agent’s advice, won’t work with an offer that was received because it was “too low” and ultimately decides to pull the house off the market?

Oh well.

6. A home passes or fails inspection

An inspection is meant to assess the condition of a home. An inspector doesn’t “pass” or “fail” a home.

He or she will provide a report explaining all issues along with a summary of the age of key systems such as plumbing, electric, HVAC and the roof along with an estimate of economic life remaining on those systems.

7. Inspectors have to find something, don’t they?

Speaking of inspections, no one likes the idea of someone crawling around their home for a few hours with a camera and notepad making note of every crack, crevice and things that may not function to a certain standard.

Here’s the deal: inspectors are hired by the buyer to do an independent and objective evaluation of a property. The reality is they are going to find things — no property is perfect, even with brand new construction homes.

There is no secret conspiring happening behind the scenes. If the sellers are concerned about what might be found, the best way to level the playing field is to obtain their own pre-listing inspection before putting the home on the market.

8. Weekends bring out the most serious buyers

Contrary to popular belief, weekends don’t usually bring out the most serious and ready-to-buy buyers. Open houses and other open-to-the-community events tend to bring voyeurs, nosy neighbors and curiosity seekers interested in looking at decorating ideas and how other people live.

Just watch Zillow’s latest web series “Open House Obsessed” that follows people who have made a hobby out of going to open houses.

The most serious showings tend to happen during the week. In many markets, it is usually too late to wait until the weekend to look at any properties of interest.

9. Zillow says, therefore it is

When was the last time Zillow physically walked through a property, pulled relevant comparables, did specific adjustments and established an on-point range of value?

Zillow’s Zestimate gives a consumer a general idea of the value of a home — the company calls it a “starting point” — but by no means is it an exact valuation tool. Zillow can’t discern the difference between why homes on one street or in a particular area may be different value-wise versus those just two streets over.

It can’t tell the consumer why the last three sales sold for the prices they did and why a particular school is driving people to a specific neighborhood. Even Zillow’s CEO, Spencer Rascoff, sold his home for 40 percent less than the Zestimate showed in 2016!

10. It is better to price a home on the high side as the seller can always come down

This is one of the most common fallacies in real estate. Sellers want to protect their asking price so they think overpricing it is an effective defense mechanism against selling too low.

Newsflash: overpricing your home often leads to the home sitting and not receiving much interest. If a home is priced competitively from the beginning, the chances of attracting optimal traffic from the beginning greatly increases.

As a follow-up to this myth, sellers often say “well, a buyer can always make an offer,” but the problem is that when you’ve overpriced it, buyers may not look at the home in the first place, let alone put an offer in. You have to entice with the price.

11. When making an offer on a home, you need to start with a low offer

Just as sellers make a classic mistake of overpricing, buyers often make the mistake of wanting to start with a really low offer.

Although there is nothing wrong with negotiating, if the home is priced within range, an unrealistically low offer is only going to alienate the seller, and you won’t be taken seriously.

Don’t be surprised if you receive a very slight counter or no counter offer at all.

12. The longer a home is on the market, the more negotiable the deal

Not necessarily, and in fact, it may mean just the opposite. A home that lags on the market is likely sitting due to its asking price as well as its lot, layout, location or condition of the home.

An awkward layout or inferior location can also play a role. The seller may be unrealistic about their asking price or want the market to pay more than it is willing to bear.

13. Multiple price reductions mean the seller is desperate to sell

If a home has had multiple price reductions, that must mean the seller desperately needs to sell.

Price reductions are made to bring the property in line with current comparables, price it to be competitive or underprice it to help generate more traffic and interest.

Often when a seller has done several price reductions it means they are through with negotiation.

14. Multiple offers give the sellers an advantage

If a seller receives more than one offer and elects to simultaneously counteroffer all buyers, that increases their leverage and the likelihood of selling for top dollar.

Maybe but maybe not.

It can be easy to see dollar signs when there is more than one offer in hand from multiple buyers. Keep in mind that every buyer has a limit, and no one likes to be played.

Not every home is a must-have in every market, and there will always be another property that becomes available.

As a seller, if you play this card wrong, you could end up having the entire situation backfire and be forced to watch all the buyers walk away.

15. All agents are the same

Although the general process of buying or selling and the ensuing chain of events are similar, no two agents are the same, nor is their approach to real estate. The public often lumps all agents into the same bunch and considers them a commodity without really taking the time to study the differences in their approach, presentation and achievements.

As in every profession or organization, there are those who are committed to excellence, devote endless amounts of time and energy into working with buyers and sellers and are highly adept problem solvers. Others simply march to lower standards and do the bare minimum to get by.

Just as some attorneys and physicians are better than others, so are real estate agents. Some are more resourceful, responsive and creative.

Although a few photos and minimal listing description may be adequate in the eyes of one agent, another agent can’t imagine presenting a listing that wasn’t properly prepped for sale with staging, video, 3-D and a slick marketing campaign with professionally designed and produced collateral for digital and print.

In real estate, an agent can never assume, and the same goes for the public.

Cara Ameer is a broker associate and Realtor with Coldwell Banker Vanguard Realty in Ponte Vedra Beach, Florida. You can follow her on Facebook or Twitter.

Email Cara Ameer.

 

TALLAHASSEE, Fla. – Seven real estate laws drafted by the 2017 Florida Legislature and signed by Gov. Rick Scott went into effect Saturday, including a Florida Realtors priority: estoppel fee caps.

Laws effective July 1

  • Cap on estoppel certificate fees – Sellers of properties who live in an HOA, condo association or co-op will have a limit on the amount they’ll pay for an estoppel certificate, a document that informs a buyer if the seller is current with their dues and assessments. SB 398 (Sen. Passidomo, R-Naples) caps estoppel certificate fees at $250 for unit owners who are current in their assessments. Associations may charge an additional $100 for expedited estoppel certificates (delivered within three business days) and another $150 to owners who are delinquent in their assessments. The bill sets the price of estoppel certificates for multiple units owned by the same person and establishes a uniform, statewide format that ensures buyers and closing agents receive the appropriate information needed to close the real estate transaction. This bill also requires certificates to be valid for 30 days if delivered electronically or 35 days if delivered by mail.
  • Florida’s natural resources – More than $500 million is earmarked for Everglades restoration, beach renourishment and springs restoration. During the session, SB 10 (Sen. Bradley, R-Orange Park) served as the primary piece of policy legislation for Everglades restoration and establishes how the funding will be used for these projects. A key provision of SB 10 is the construction of a reservoir south of Lake Okeechobee that is designed to curb nutrient and salinity levels that are harmful to Florida’s valuable natural resources.
  • Condominium termination law – Legislation passed in 2015 to protect condo owners from being forced to sell – possibly at a loss – has several loopholes that real estate investors and bulk buyers exploited. SB 1520(Sen. Jack Latvala, R-Clearwater) fine-tunes the rules and modifies the process by reducing the percentage of owners required to reject the termination – from 10 percent to 5 percent.
  • Condominium oversight – A South Florida news report of fraud in condo board elections, misappropriation of funds and rigged bids resulted in a Miami-Dade grand jury recommending changes to Florida’s Condominium Act. HB 1237 (Rep. Jose Felix Diaz, R-Miami) provides several new condo oversight rules: (1) a condo association with more than 150 units must publish its financial reports and other documents (bylaws, articles of incorporation, condo rules) on a password-protected web page; (2) if an owner is denied documents and fraud is proven, persons responsible for fraudulent activity could face felony charges; (3) the term of a condo board director is limited to eight years, with some exceptions.
  • Private flood insurance – As Realtors petition Congress to reauthorize the National Flood Insurance Program (NFIP), Florida lawmakers continue to work to attract private flood insurance capital to Florida. HB 813 (Rep. Larry Lee Jr., D-Fort Pierce) accomplishes two primary goals: (1) Rating flexibility for flood insurers is extended from 2019 until 2025 before they must follow guidelines similar to other lines of coverage – a way to encourage private insurers to enter the Florida market; (2) insurance agents can place flood policies with surplus lines insurers for two more years – until 2019 – before they must make a “diligent effort” to place the coverage with carriers regulated by the state. Diligent effort requires an agent to seek coverage and be rejected by at least three regulated carriers writing the same type of coverage.
  • Drone regulation – HB 1027 (Clay Yarborough, R-Jacksonville) preempts the regulation of unmanned aircraft systems (drones) by local governments and grants oversight to the state of Florida. This will prevent drone operators from having to potentially comply with ordinances adopted by 400+ local governments.
  • Pollution notification – SB 1018 (Sen. Denise Grimsley, R-Lake Placid) sets a threshold for when an operator is required to notify the Division of Emergency Management and the Department of Environmental Protection about a pollution event. It also provides a timeframe for the notification and defines what a reportable event means. This legislation is the result of pollution from a sinkhole at the Mosaic fertilizer facility in Mulberry, Fla., last summer. The Scott administration created an emergency rule that shifted the burden of pollution notification from the state to the owner of the property where the spill occurred. Florida Realtors was part of a coalition that successfully challenged the legal authority for this rule, creating an opportunity for the passage of this friendly legislation.

© 2017 Florida Realtors

7. Kitchen3

1766 Maryland Ave NE, St Petersburg, Florida

When a homeowner decides to sell their house, the number one thing that they want is, of course, the best possible price!! Right? Next, is that they want the least amount of problems to receive this price. Most sellers don’t realize all of the steps required to reach their goal. Marketing is more than sticking a sign in the yard, placing an add on Craig’s list or posting some photos on Facebook. Does the seller know how to stage the house to show it’s best appeal to the most buyers? Is the seller willing to answer phone calls 24/7, literally? Yes, at 2 in the morning when a buyer is searching the Internet! Does the seller know if the buyer is a serious buyer with their mortgage in place or are they pre-approved? In order to know all of these things & much more, a seller really needs to hire a real estate professional.

Technology has changed the buyer’s behavior during the home buying process. According to the National Association of Realtors’ 2016 Profile of Home Buyers & Sellers, the percentage of buyers who used the internet in their home search increased to 94%. However, the report also shows that 96% of buyers who used the internet when searching for homes purchased their homes through either a real estate agent/broker or from a builder or builder’s agent. Only 2% bought their homes directly from a seller that they didn’t know. Most of the buyers who bought homes directly from sellers (For Sale By Owner) still used a Realtor to represent them. Buyers start their search for a home online but then depend on an agent to find the home they will buy (50%), to negotiate the terms of the sale (47%) & price (36%), or to help understand the process (61%). There is so much information out there, either through the Internet or family & friends that more buyers are now reaching out to real estate professionals to help them through the very complicated process. The percentage of buyers who have used agents to buy their homes has steadily increased from 69% in 2001.


Sooooo, if you are thinking of selling your home, don’t underestimate the role a real estate professional can play in the process. The vast majority of buyers have realized that they actually need a Realtor in order to purchase their new home correctly. The laws regarding real estate change constantly & a professional Realtor will know the latest requirements & forms, as well as have a much larger audience with which to present your home in the best light.

Annalisa Weller, Realtor®, Certified International Property Specialist

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  • Member James Kevin Burns passed away October 8, 2018
    James Kevin Burns 67, of Gulfport, FL (formerly of Dade City) passed away Tuesday, October 2, 2018. He was born March 17, 1951 in Tampa, FL to Nicholas Smyth Burns Jr & Nancy Ellen McCabe Burns. He was a longtime Pinellas County resident and owned and operated K.B. Realty LLC. He is survived by his […]
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  • Member Lucile Casey sponsors event benefiting local public libraries October 8, 2018
    Contact Lucile Casey for more information: lcasey@bhhsfloridaproperties.com
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  • PRO recommends candidates for November 6 general election October 8, 2018
    Based on the public service, respect for property rights, commitment to economic development, and overall understanding of the real estate industry, the Board of Directors of the Pinellas Realtor® Organization (PRO) recommends the following candidates, amendment and referendum in the November 6th general election: Pinellas County Commission District 6: Kathl […]
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  • ‘Welcome’ to all our new members who joined us in September October 1, 2018
    The Pinellas REALTOR® Organization would like to welcome all of our new REALTORS® who joined us in September! We are happy to have you as a part of our organization and wish you much success in your careers. Alexandros Real Estate Group George  Hios American Realty Stephen Hack Anna Lythgoe Anna Lythgoe Belle Isle Realty, […]
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  • August 2018 Pinellas County Real Estate Statistics September 24, 2018
    Click here to view the report to see what the numbers tell us about the market.
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