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VB 32963 Riverfront Update 10-13-11

VB 32963 Riverfront Update 10-13-11

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Published by Sorensen Realtors
Riverfront market leads island real estate recovery.
Riverfront market leads island real estate recovery.

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Categories:Types, Business/Law
Published by: Sorensen Realtors on Jun 18, 2013
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The Vero Beach Art Club will not withdraw its recentbombshell letter laying claimto the balance of the land itco-leases with the Vero BeachMuseum of Art, according toa board member.Chris Pierce, a member of the art club board’s negotiat-ing team, characterized anagreement on how much theclub should pay to use mu-seum space as only a “cease-fire for now” in what couldbecome a literal turf battle be-tween the two factions.Pierce says the museum hasnot responded to the letter.
Riverfront market leads thebeachside real estate recovery. P58Ocean Drive buildinggets an island look. P44
News 1-8Arts 19-22Books 36-37Calendar 56Dining 50-53Editorial 34Faith 55Games 39-41Health 23-26Insight 27-42People 9-18Pets 54Real Estate 57-62Style 45-47Wine 51
October 13, 2011 Volume 4, Issue 41 Newsstand Price $1.00
TO ADVERTISE CALL772-559-4187FOR CIRCULATIONCALL772-226-7925
Wind-whipped seascause new beacherosion. Page 8.
Crowds turn out for First FridayGallery Stroll. P10
Your Vero Beach Newsweekly ™
Turf war: Vero Art Club wants hold onland next to Museum for possible home
BY MICHELLE GENZ
Staff Writer 
CONTINUED ON
PAGE 6A police ofcer directs trafc with lights out at the intersection of Beachland Boulevard and A1A.
Vero in the dark: Small storm, big blackouts
Vero electric’s bid tostay free of FPL nothelped by response
BY LISA ZAHNER
Staff Writer 
CONTINUED ON
PAGE 2
CONTINUED ON
PAGE 4
Oslo boat rampproject backerstarget of probe
BY STEVEN M. THOMAS
Staff Writer 
 Vero Beach electric’s re-sponse to major weekendpower outages caused by astorm that didn’t rise to thelevel of a tropical depressionseriously undercut argumentsagainst selling the utility toFlorida Power & Light.Huge swaths of barrier is-land customers were withoutpower for prolonged periodsSaturday and Sunday – withOcean Drive and its hotelsand restaurants in darknessSunday night – and calls to Vero electric were answeredby a recording that offered noinformation and no option tospeak to a person.One argument frequently 
Central Vero Beach sits in darkness during a power outage on Sunday night.
PHOTOS BY TOM McCARTHY JR.
 A fraudulent letter-writincampaign and questionablesignatures on petitions are be-ing investigated by a state agen-cy whose approval is neededfor a controversial $1 millioncounty project to dredge por-tions of the Indian River lagoonat the Oslo Road boat rampand build a parking lot. A 32963 review of St. JohnsRiver Water Management Dis-trict documents found morethan 100 letters of acknowl-edgment sent by St. John’sto supposed boat ramp sup-porters were returned to thedistrict stamped “No SuchStreet,” “No Such Number”and “Unable to deliver.” A number of letters to thedistrict from Vero Beach andFort Pierce residents protest-ed the unauthorized use of their names on petitions orletters of support.In a letter received by St.Johns on March 26, 2010, Rus-sell Pieper wrote: “Please beadvised I did not send any let-ters to your department. I donot own a boat or have any interest in boat ramps . . . I would like a copy of the letterthat was sent using my name.I believe my identity was sto-len. I want to use the letter tomake a report to law enforce-ment so the criminal(s) that
Erosion carves away beach at Wabasso.
 
REAL ESTATE
58 Vero Beach 32963 /
October 13, 2011
Your Vero Beach Newsweekly
T
he price of single-family river-front homes on the barrier is-land has hit a hard bottom of value and is rebounding.The median sale price for a house onthe water, but not on the ocean, was$800,000 in September, up 17 per centcompared to the same month two yearsago, according to MLS statistics report-ed by Terradatum.com.The average listing price for thosehomes is $1.34 million, up 13 per centfrom September 2009. The change ininventory, which is finally beginning toimpact prices, is even more dramatic.“There has been a 72 per cent reduc-tion of riverfront inventory over thepast two years, which is substantial,”says Dale Sorensen Jr., who tracks VeroBeach real estate statistics and trends with a sophisticated software programthat can pinpoint market activity.In February 2010, an inventory highpoint, 302 single-family riverfronthomes were for sale on the barrier is-land. By last month, the number haddwindled to 85.Dale Sorenson Real Estate Inc. hascapitalized on and helped drive thetrend of strong riverfront sales, han-dling 17 of 30 riverfront sales this year with Broker Matilde Sorensen leading the way. “My mother handled one sideor the other or both in 10 of our 17 river-front transactions,” says Dale Jr.Matilde Sorensen started in the realestate business in Vero Beach in 1978 when her husband, Dale Sr., opened anagency in what she calls “a teeny tiny of-fice” on Beachland.“He was working for Gulf & Westernand they were moving their office but we didnt want to move, so we wentinto the real estate business,” she says.“I love being a hostess for Vero Beach,showing people all the area has to offer.Once they are sold on the area, selling them a house is easy.”“People who come here looking for waterfront property typically look inother places as well,” says Dale Jr. “Weare competing against Naples, Fort My-ers, Delray, Jupiter and Ft. Lauderdale,so selling the area first is critical.” Along with riverfront, oceanfront in-ventory is way down, but Matilde So-rensen says riverfront and oceanfrontbuyers are two distinct groups. “You cansometimes convert a riverfront buyerto oceanfront, but never the other way around,” she says. “People who want abeachfront home have their mind madeup. They do not waiver.”She says European buyers often cometo Vero Beach with their hearts set on abeachfront home. “They won’t look atanything on the river,” she says.Norris & Company co-owner GenaGrove sees the same dynamic at work.“Oceanfront buyers want to be ableto walk down from their house to thebeach,” Grove says. “They have their
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N   E   W    L  I   S  T   I   N   G  
Riverfront market leads island real estate recovery
BY STEVEN M. THOMAS
Staff Writer 

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