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Pine Ridge at Lake Tarpon Listings

April 7, 2009

pine-ridge-map2A client emailed me today asking about Pine Ridge at Lake Tarpon in Tarpon Springs, Florida. They’re considering buying a condo or villa in this very desirable condominium community and they wanted some information to help them determine whether or not this community would work for their budget and lifestyle needs. So I’m going to share some information here as Pine Ridge is one of my favorite subdivisions in Tarpon Springs.

As of April 7, 2009 here are the stats for Pine Ridge at Lake Tarpon:

  • 39 total condos listed
  • 6 of 39 are “Pending”
  • 33 of 39 are “Active” (available)
  • List prices range from $39,000 to $149,000
  • Average days on market for Active listings  is 164
  • Average days on market for Pending listings is 35
  • Average list price per square foot for Active listings is $91
  • Average list price per square foot for Pending listings is $77

These figures are misleading without some professional interpretation. What someone is asking for their property isn’t nearly as important as what past comparable properties sold for recently. But for simplicities sake it is fair to say that you can buy an 1100 square foot condo in average condition for $50,000 – $70,000 in Pine Ridge at Lake Tarpon. Every listing is different and other factors come into play, such as whether or not the listing is a fair market listing, a short sale listing, or a bank-owned (REO) listing.  A competent Realtor is essential in this crazy market and you would be nuts to try to purchase a short sale or bank-owned property without professional help.

For those interested in Pine Ridge at Lake Tarpon be advised that they have a strict maximum pet weight of 25lbs. If your dog weighs 30lbs don’t think you’ll slide by their RADAR. I talked to the condo association of Deer Hollow (Phase II of Pine Ridge at Lake Tarpon) and they proudly informed me that if they suspect an owner’s dog is over the 25lb limit they’ll require that owner to bring his or her dog to their vet to have one or two of the dogs legs amputated to lower the dogs total weight. Ok, that was a sick joke. But they’ll make you bring your dog to their vet to be weighed.  So don’t test them.

As I just said it is more important to examine the actual sales prices and not concentrate on what people are wishing and hoping and dreaming to get for their homes.

In the past 30 days there have been 3 total sales in Pine Ridge at Lake Tarpon:

  1. Sale 1 was listed at $52,900 and sold for $50,500 with 29 days on market. This was a 2 bed, 2 bath, 1,060 square foot condo.
  2. Sale 2 was listed for $69,900 and sold for $66,000 with 130 days on market.  This was a 2/2 with 1,085 square feet.
  3. Sale 3 was listed at $79,900 and sold for $72,100 with 58 days on market. This was the largest floorplan with 3 beds, 2 baths and 1,465 square feet.

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