A Stunning Beachfront Condo Hotel For Sale "Highest and Best Offer".

A Condo Hotel Auction in Treasure Island, Florida


AUCTION ID # 12503S “Highest and Best Offer”
January 24th- February 24th, 2010
DETAILS and FEATURES
12000 Gulf Blvd. Unit 503-S
Sunset Vistas on Treasure Island
St. Petersburg, Florida 33709

I have broken down the information, descriptions and pictures of this Condo Hotel into 6 areas for your convenience.


CONDO HOTELS IN GENERAL Condotels, also known as Condo Hotels in General are typically high rise luxury properties in phenomenal prestigious locations, classically located around resort style destinations.

These amazing Condo Hotels can offer dramatic views and feature incredible amenities with guest services of four star caliber or better. You will usually find full service spas, fine dining restaurants and resort style pools giving them the ultimate advantage of a super fantastic vacation getaway.

With the Condo Hotel concept you purchase a condominium in a world class hotel or resort then use your condo hotel when you like. When you are away, place it in the condo hotels rental program, and receive a portion of the revenue it generates. The condo hotel management company takes care of renting, cleaning, and maintaining your unit. They also ensure the smooth operation of the hotels amenities operation and services.

A condo hotel unit represents the best of all worlds. It is a hassle free, luxurious second home in a fantastic vacation destination. It generates rent revenue, that offsets the cost of ownership and it is a Real Estate investment with appreciation and resale potential.

This Treasure Island Condo Hotel will be sold to the Buyer with the “Highest and Best Offer” by February 24th, 2010.

We have 4 Highest and Best Offer
and 1 Low Unique Bid Real Estate Auction (under $100)
this Month Posted at Marcus Real Estate.com.
Please feel free to call the Broker
at any time for more information
on these Stunning Florida Homes
941.445.2661.

**A HOME AUCTION UNDER $100

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Sunset Vistas, the Resort and Amenities


Offering stunning views of the ocean, paradise can be yours! Enjoy life at this beachfront resort when in town plus reap the benefits of short-term rental income while away. 24 hour on-site property management makes renting easy. This beautiful condo/hotel was completed in 2006 and is located right on the beach in Treasure Island only minutes from John's Pass and is seconds from endless recreational activities. This fully furnished resort style unit features a private balcony with a view of the Gulf of Mexico, 9 foot ceilings, granite counters, tile floors, a washer and dryer, two bedrooms each with a queen-size bed plus a queen-size sleep-sofa in the living room. Amenities include a large heated swimming pool on the Gulf, separate kiddie pool, heated spa, beach bar, cafe/convenience store, fitness center and plenty of white sand beaches on the Gulf of Mexico. This condo comes with a covered parking space under the building. This is a completely turn-key condo/hotel with optional on-site rental management available offering nightly, weekly and monthly rentals. The Sunset Vista Beachfront Suites is surrounded by a variety of activities and area attractions. Guests can enjoy a casino boast cruise, experience parasailing or scuba diving. The hotel's knowledgeable staff can also help arrange area tours, excursions and even dinner reservations. After a long day, relax by the pool or enjoy breathtaking views of the Gulf of Mexico from your private balcony.

This Condo Hotel will be sold to the Buyer with the “Highest and Best Offer” by February 24th, 2010.

We have 4 Highest and Best Offer
and 1 Low Unique Bid Real Estate Auction (under $100)
this Month Posted at Marcus Real Estate.com.
Please feel free to call the Broker
at any time for more information
on these Stunning Florida Homes
941.445.2661.

**A HOME AUCTION UNDER $100

**MORE HOME AUCTIONS



























For More Pictures Please Visit the Single Property Web Site

This Condo Hotel will be sold to the Buyer with the “Highest and Best Offer” by February 24th, 2010.

We have 4 Highest and Best Offer
and 1 Low Unique Bid Real Estate Auction (under $100)
this Month Posted at Marcus Real Estate.com.
Please feel free to call the Broker
at any time for more information
on these Stunning Florida Homes
941.445.2661.

**A HOME AUCTION UNDER $100

**MORE HOME AUCTIONS



Treasure Island Florida













Treasure Island, Florida the Location is located on Florida's beautiful Gulf Coast and is blessed with miles of gorgeous white sand beaches that boast that "Old Florida" feel, yet Treasure Island is part of the Tampa Bay region, one of the nation's fastest growing metro areas. Treasure Island offers you and your family a quiet "laid back" atmosphere while being just a short drive from Florida's major theme parks.

Miles of clean, wide white sand beaches and the warm gentle waters of the Gulf of Mexico with the very best sunsets in the world await you when you visit to Treasure Island.

Guests of Treasure Island enjoy visiting not only the world famous beaches at John's Pass, Madeira Beach, St. Petersburg Beach, and Clearwater Beach, but you're right in the middle of the cities of St Petersburg, Clearwater, and Tampa. Minutes away are attractions like Raymond James Stadium, (NFL team Tampa Bay Buccaneers), the St. Pete Times Forum (Tampa Bay Lightning), Steinbrenner Field (formerly Legends Field; spring training home of the New York Yankees), and of course the Tampa Bay Ray's at Tropicana Field. Add Busch Gardens Amusement Park, Lowry Park Zoo, Salvador Dali Museum, the St. Petersburg Pier, and you have the makings of the perfect destination!

The Beach Trolley continues to service Treasure Island providing residents and guests alike easy access to all the Pinellas County Beaches at very reasonable rates and convenient times. You will find Trolley Stops every block or so all along the entire length of Gulf Boulevard.

Treasure Island is home to upscale restaurants like Middle Grounds Grill and The Pearl. For family dinning you can chose from Foxy's Restaurant, The Floridian or Gigi's Italian Restaurant. The most popular eating and drinking establishments include Wahoo's on the Island Bar and Grill, VIP Mexican Restaurant and Lounge and Ricky T's Bar and Grill.

Treasure Island is the perfect place for your Beach Wedding, Deep Sea Fishing Trip, Florida Golf Vacation and more.

Some of Treasure Island/Tampa Bay Area Attractions
• Treasure Island Beach
• Busch Gardens Tampa Bay (20 MI)
• The Florida Aquarium (20 MI)
• St. Pete Times Forum Tampa (20 MI)
• Tampa Bay Performing Arts Center Tampa (20MI)
• Raymond James Stadium Tampa (18 MI)
• Philadelphia Phillies (Spring Training) Bright House Networks Field (10 MI)
• Dali Museum St. Petersburg (8 MI)
• Tarpon Springs Sponge Docks (30 MI)
• The Pier St Petersburg (8MI)
• Tropicana Field St. Petersburg (7 MI)
• Coachman Park Clearwater (10 MI)
• Ruth Eckerd Hall Clearwater (20 MI)
• Clearwater Marine Aquarium (15 MI)
• Pier 60 Clearwater Beach (15 MI)
• Clearwater Municipal Marina (15 MI)
• Orlando Theme Parks & Attractions (85 MI)
• John's Pass Village & Boardwalk (1/2 MI)
• Yacht Star Ship Dining Cruise
• Captain Frank's Snorkeling Cruise

Area sports and recreation:
• Tampa Bay Storm
• Tampa Bay Rays
• Tampa Bay Buccaneers
• Tampa Bay Lightning
• Golf Clearwater/St. Petersburg
• Tennis Courts Public & Private
• Deep Sea Fishing
• Biking: The Pinellas Trail

Courtesy of Treasure Island Florida .org and Crystal Palms Beach Resort Treasure island, Florida

This Condo Hotel will be sold to the Buyer with the “Highest and Best Offer” by February 24th, 2010.

We have 4 Highest and Best Offer
and 1 Low Unique Bid Real Estate Auction (under $100)
this Month Posted at Marcus Real Estate.com.
Please feel free to call the Broker
at any time for more information
on these Stunning Florida Homes
941.445.2661.

**A HOME AUCTION UNDER $100

**MORE HOME AUCTIONS



Income and Expense for Unit 503-S













This Florida Condo Hotel had a Net operating Income of $21,000 for the year 2009 and the owner had the unit available for himself for 30 days in the month of January.

This Condo Hotel will be sold to the Buyer with the “Highest and Best Offer” by February 24th, 2010.

We have 4 Highest and Best Offer
and 1 Low Unique Bid Real Estate Auction (under $100)
this Month Posted at Marcus Real Estate.com.
Please feel free to call the Broker
at any time for more information
on these Stunning Florida Homes
941.445.2661.

**A HOME AUCTION UNDER $100

**MORE HOME AUCTIONS



About This Virtual Auction











This is a Virtual High Bid Real Estate Auction. On the single property web site you have an opportunity to view the many beautiful still shots, watch the home’s virtual tour, review the home’s detailed descriptions, income and expenses, check out the local schools and weather, view the area map and take an area tour, review the home inspection, the seller’s disclosure and print out a Qualified Bidder Form. Bids from qualified buyers across the country will be accepted from January 24th – February 24th, 2010.

At the end of the bidding period all offers will be reviewed and presented for Seller acceptance. If your offer has been accepted by the Seller at the end of the month the Broker will contact you to begin the purchase process. Please note that the Seller’s preferred closing date and type of financing considered can be found in the Expense Details in the documents section of the single property web site. We encourage you to submit the “Highest and Best Offer” to increase your chances of owning this beautiful Condo Hotel. If you have not placed the Highest and Best Offer, you will be notified by email at the end of the bidding period.

YOU CAN VIEW THESE DOCUMENTS FROM THE SINGLE PROPERTY WEBSITE:

• Qualified Bidder Form
• About this Auction
• Seller’s Disclosure
• Income and Expense Report
• Printable Flyer

Please Visit MarcusRealEstate.com to be listed in the “single property site syndicated service” utilizing the “Highest and Best Offer” Virtual Auction Format or to view other stunning “Highest and Best Offer” Florida Properties.

We have 4 Highest and Best Offer
and 1 Low Unique Bid Real Estate Auction (under $100)
this Month Posted at Marcus Real Estate.com.
Please feel free to call the Broker
at any time for more information
on these Stunning Florida Homes
941.445.2661.

**A HOME AUCTION UNDER $100

**MORE HOME AUCTIONS



Condo Hotel Financing Available










Condo Hotel Description
Condo Hotels are a new trend in second home and investment ownership. Buyers can purchase a luxury vacation home at a world class resort and receive rent revenue whenever they are not using their residence, helping to offset the costs of ownership. Financing is typically done with a Portfolio or Private lending Institution.
Property Types
Condos that allow rental desk, daily maid service, &/or restaurant.
Apartment Conversions with Full Size Kitchen over 950 Sq. Ft.
Minimum Kitchen Requirements are enforced: Full Size Refrigerator, Stove/Oven, and Sink; Microwave recommended, but Optional.
Loan Programs
Easy Express 3/3, 5/5, 10/5 or 15 yr Fixed Rate Program
Margin = 2.00
Caps: Lifetime Cap of 6
Index: FNMA Required Net Yield for 30 yr Fixed Rate Loans
Min. Credit Score = 680 for Primary and 2nd Homes; 710 for Investment Property
Or,
Easy Express 3/1 or 5/1 ARM Interest Only Program
Margin = 2.25
Caps: 2/6 (3/1 ARM) or 5/2/5 (5/1 ARM)
Index: 1 Yr Libor
Min. Credit Score = 710 to qualify for Interest Only Program
Underwriting & Program Parameters
FULL DOC with No Prepayment Penalty
VERIFY ALL ASSETS, BOTH LIQUID AND RETIREMENT. Financial Strength is Key in underwriting.
LTV is limited to 60% LTV (55% LTV in declining markets) if any of the following apply:
*Unit is Less than 750 Square Feet
*Unit Doesn’t Contain a Full Kitchen (Full Size Stove/Oven, Refrigerator, & Sink)
*LTV can be raised from 60% up to 100% if the Cross Collateralization Program is utilized with a 1st or 2nd Lien against the Applicant’s Primary Home.
*If Condo Received C.O. 1/1/2007 to present date, Max. LTV = 75%.
Primary & 2nd Homes:
Max. Term = 30 years
100% LTV with Cross Collateralization
80% LTV with NO MI for Credit Scores 710 and higher; 70% LTV for Scores 680 to 709.
All Refinances are Limited to 70% LTV.
***If property is located in FLORIDA or a Resort AREA, take 5% off for declining Markets.***
Investment Property: (Purchase or Rate/Term Refinance Only)
Max. Term = 15 years unless Equity is $50K or more, the term = 20 years.
Max. LTV = 70% or 100% LTV with NO MI with Cross Collateralization of a 1st or 2nd Lien against Borrower’s Primary Home or 2nd Home and Possible Amortization of 30 Years.
New Condo Complexes Require Inspection and a Spreadsheet of the Following:
*Original Contract Date of all Units, Square Footage of all Units, Original Contract Price per Unit, Closing Date or Estimated Closing Date Per Unit.
*40% of Complex must be Closed or Pending to Close Before Our Unit is Closed.
Maximum Complex Penetration is 10%.
That is, we will normally only finance up to 10% of the units.

For More Information on Condo Hotel Financing Please Contact our Mortgage Broker Sponsor

Visit this Condo Hotel’s Single Property Web Site

We have 4 Highest and Best Offer
and 1 Low Unique Bid Real Estate Auction (under $100)
this Month Posted at Marcus Real Estate.com.
Please feel free to call the Broker
at any time for more information
on these Stunning Florida Homes
941.445.2661.

**A HOME AUCTION UNDER $100

**MORE HOME AUCTIONS



More "Highest and Best" Virtual Auctions

For more information on how Condo Hotels can work for your Real Estate Portfolio please contact me.

Maureen E. Marcus
Marcus Real Estate
Licensed Real Estate Broker
Sarasota, Florida 34233
Cell 941.445.2661
Fax 941.922.0472

Please Visit 4 Florida “Highest and Best Offer” Virtual Auctions January 2010





Certain Information Courtesy of Treasure Island Florida .org and Crystal Palms Beach Resort Treasure island, Florida




We have 4 Highest and Best Offer
and 1 Low Unique Bid Real Estate Auction (under $100)
this Month Posted at Marcus Real Estate.com.
Please feel free to call the Broker
at any time for more information
on these Stunning Florida Homes
941.445.2661.

**A HOME AUCTION UNDER $100

**MORE HOME AUCTIONS



Join the Auction Community Today

Join the Home Auction Community Today



Email Marketing You Can Trust