CNN Money explains how the housing rescue bill can help you. Click on below link if you'd like to read the full article.
I'm available if you'd like to discuss your options. Call me at 813-293-9996.
The legislation - likely to be enacted soon (today!)- devotes $300 billion to helping troubled homeowners avoid foreclosure. See if you qualify. Click below:
http://money.cnn.com/2008/07/26/real_estate/housing_rescue_guide/index.htm
Best Regards,
Patricc Petti, Realtor
Keller Williams Realty
www.tampaluxuryhomespecialist.com
813-293-9996
Wednesday, July 30, 2008
President Bush signs massive housing bill
According to today's article on MSNBC (www.msnbc.msn.com):
President Bush on Wednesday signed a massive housing bill intended to provide mortgage relief for 400,000 struggling homeowners and stabilize financial markets. To read full story, click on below link.
Homeowners, if you are struggling to make your mortgage payments and would like to know what your options are, feel free to call me at (813)293-9996. You may have heard about "Short Sales." I would be happy to discuss these further. Here's the full story from MSNBC:
http://www.msnbc.msn.com/id/25928299/from/ET/
Best Regards,
Patricc
President Bush on Wednesday signed a massive housing bill intended to provide mortgage relief for 400,000 struggling homeowners and stabilize financial markets. To read full story, click on below link.
Homeowners, if you are struggling to make your mortgage payments and would like to know what your options are, feel free to call me at (813)293-9996. You may have heard about "Short Sales." I would be happy to discuss these further. Here's the full story from MSNBC:
http://www.msnbc.msn.com/id/25928299/from/ET/
Best Regards,
Patricc
Tuesday, July 29, 2008
Florida Beaches...
Want to learn more about Tampa Bay's Beaches? Here's some exciting information about improvements along Clearwater Beach:
(brought to you by The Official Web Site of the City of Clearwater, FL)
...a winding beachside promenade with lush landscaping, artistic touches and clear views to Clearwater's award-winning beach and the water beyond, a place where bicyclists, rollerbladers and pedestrians all have safe and convenient access and where visitors and locals can socialize, dine, play games, or simply enjoy the spectacular sun and surf.
This is Beach Walk
Five years in development, Beach Walk is designed to revitalize the community that surrounds Clearwater's popular south beach destination, which has played host to generations of visitors from all over the world. Part of the city's "Beach by Design" plan, it has already played a vital role in attracting new hotel development to the beach in a time when many older hotels are being converted into condominiums, threatening our community's tourism industry.
The project will transform the look and feel of south Clearwater Beach and bring new vitality to the area, providing a setting that complements the beauty of the true destination: our pristine, white beaches.
Why Beach Walk
Tourism is Clearwater's number one industry, and the beach is at the center of the tourism. City and tourism officials recognized that, in order to meet the expectations of visitors in the new millennium, there was a need to improve the atmosphere surrounding our beautiful beaches. With more permanent residences going up on the beach, it was important, too, to preserve overnight accommodations for the millions of visitors who come back year after year.
Beach Walk is designed to bring visitors closer to the beach and provide an environment that will draw new hotel, retail, entertainment and restaurant business for out-of-town visitors, residents, and day trippers. Already, several new hotel projects are in development in part because of the improvements promised by Beach Walk.
Beach Walk is designed to bring visitors closer to the beach and provide an environment that will draw new hotel, retail, entertainment and restaurant business for out-of-town visitors, residents, and day trippers. Already, several new hotel projects are in development in part because of the improvements promised by Beach Walk.
Modern amenities and a true "beachside experience" is what Beach Walk is all about. It will set Clearwater apart as a destination for Tampa Bay, the region, and the world. In short, Beach Walk is the future of tourism in Clearwater.
For more information, or if you're interested in scheduling a presentation about Beach Walk, please contact the City of Clearwater Public Communications Department at (727)562-4681.
The above information is brought to you by The Official Web Site of the City of Clearwater, FL
If you are thinking of buying a place near Tampa, feel free to call me at (813)293-9996. As a Buyer's Specialist, I'd be happy to find a place that matches your specific needs.
Best Regards,
Patricc Petti, Realtor
Keller Williams Realty
(813) 293-9996
Are Gas Prices making you want to buy a Downtown Condo?
The West End Tampa housing complex is under construction near downtown Tampa. Across the country, downtown housing is gaining popularity because the price of gas makes commuting expensive.Tribune file photo by JIM REED
Check out http://www.tampaluxuryhomespecialist.com/ for Condos for Sale in Downtown Tampa! Here's an article from Tampa Bay Online (The Tampa Tribune):
Gas Prices Drive Demand For Downtown Dwellings
The Associated Press
Published: July 29, 2008
Sick of filling up the tank for 60 bucks? Considering a place near work downtown and tossing the car keys?
Prepare to pay higher rents as more like-minded apartment dwellers flock to urban digs.
Nationwide, rents near job centers and mass transit are rising faster than other areas, according to New York-based real estate research firm Reis Inc. The trend is strongest in Boston, Philadelphia, Cleveland, Chicago, Seattle, Baltimore, Minneapolis and Portland, Oregon.
In downtown San Diego, for example, rents have jumped 15 percent in the past year to between $2,400 and $2,600 a month for a two-bedroom apartment, said Greg Neuman, owner of Neuman & Neuman Prudential Realty.
Young renters and empty nesters want to walk to work or drive against rush-hour traffic to save time and gas.
If they live a half hour or an hour away, "they could rent the same apartment for $800," Neuman said, "but they're now spending an hour commute and another $700 to $800 a month on gas."
In urban New York and New Jersey, Kamson Corp.'s apartments are filling up and pushing rents higher, while its suburban ones in Pennsylvania can't hold on to tenants.
"We're finding people asking more questions about mass transit, what kind of services there are in the immediate area," said Mike Beirne, Kamson's executive vice president.
Some apartment owners are including maps on their Web sites and brochures showing where amenities and public transportation are. Others are advertising their so-called walkability score from www.walkscore.com, a site that calculates how close an address is to businesses and amenities. Some landlords are giving gas cards to new tenants and offering discounted parking to those with hybrid cars.
Looking for bargain rents downtown? Try Miami, where a glut of condos left over from the housing boom are turning into rentals and flooding the market. Renters have more choices and more power to negotiate deals.
"Because landlords are motivated, rents are negotiable here," said Paul Sasseville, a real estate agent at Esslinger Wooten Maxwell. Some landlords, he said, will offer design changes, like swapping carpet for hardwood floors, to lock in a tenant for two years.
Renters there have been moving downtown for a few years already as traffic backed up around South Florida. The city has the sixth-worst commute in the country, according to Census data.
"People wanted to get more hours into their life," Sasseville said. "That started being an impact right before gas prices started to increase."
Now gas prices have become just another reason for renters to skip out on the suburbs and settle in the city.
Not surprisingly, many cities also are showing increases in public transit ridership this year, according to the American Public Transportation Association.
The suburban exodus is "both a function of traffic and congestion, spiced up by $4 a gallon gas," said John McIlwain, senior fellow for housing at the Urban Land Institute.
Americans spend more than 100 hours commuting each year, but all-time-high gas prices are forcing Americans to change their smog-producing habits.
If gas prices stay high, renters will need the money they save on dumping their cars to pay for that pricey apartment by the subway. But they can still feel good about being green.
Reader Comments
Posted by ( crystalblue ) on July 29, 2008 at 10:55 a.m.
It would be nice, but the ones build in the downtowns in Florida aren't priced for the avg income.
If you want to find out more about Downtown Tampa, give me a call at (813)293-9996.
Best Regards,
Patricc Petti
Thursday, July 24, 2008
June Statistics for Tampa Real Estate
Hi all,
Just wanted to give an update on the Current Real Estate Market in Tampa, FL. If you'd like to see the actual reports for further analysis, check out my website www.tampaluxuryhomespecialist.com where we'll have these posted in the next day or two. If you have any questions about the market, selling your home, buying a home or just want some basic real estate information, give me a call at (813)293-9996 or email me at patricc@kw.com. I'd be happy to help.
Well, the June numbers are here, and they continue to show signs of a strengthening real estate market!
The Mid-Florida Multiple Listing Service (MLS) reports that the Greater Tampa Association of Realtors (GTAR) closed 1,394 homes in June, up from 1,316 homes in May and up from 1,235 homes in April, and well north of the 791 homes sold in January. This is a little off of the 1,446 in June 2007 but higher than the 1,268 in July 2007, so we might see some press headlines that show the market is slightly off from the year ago period.
There are now 19,363 active GTAR listings, which is down from 19,758 last month and down from our height of 20,942 in October 2007. This is now the second time that we have dropped below 20,000 listings in 2008. In a very positive sign for our market, our months of inventory dropped to 13.89 from 15.01 last month. The months of inventory have not been this low since December 2006! In addition, the average list price is $242,261, which is down from $266,411 last month. The average sales price also decreased to $227,565 from $244,977 last month. Finally, the percentage difference between sell/list increased to 93.93% from 91.95% last month and the average days on market increased to 152 from 124 earlier (possibly due to the long process of short sales – third party approvals).
What price categories sold last month? 196 of the 1394 homes sold in the $200,000-$249,999 price range, making up for 14.06% of the saleable market. Another range that is moving, which represented 11.19% of all sales, is the $140,000-$159,999 range, where 156 homes sold.
The $1,000,000 and up range had a solid month -- 15 units sold for over $1,000,000, which is slightly off of the 18 units from last month but up from 11 in April and 10 in March. The upper end luxury market continues to hold its own, with over 70 homes selling for over $500,000 last month.
Hillsborough County continued its tidal wave of foreclosures with 1,659 in June, slightly off of the 1,671 in May, and up from 1,549 foreclosures in April. There were 615 foreclosures in Pasco County, down from the 733 in May and up from 593 foreclosures in April. Our neighbors over in Polk County saw a big increase with 888 foreclosures, which is up from 685 in May.
Feel free to contact me or visit my website for more information.
Best Regards,
Patricc Petti
Keller Williams Realty
www.tampaluxuryhomespecialist.com
(813)293-9996
Just wanted to give an update on the Current Real Estate Market in Tampa, FL. If you'd like to see the actual reports for further analysis, check out my website www.tampaluxuryhomespecialist.com where we'll have these posted in the next day or two. If you have any questions about the market, selling your home, buying a home or just want some basic real estate information, give me a call at (813)293-9996 or email me at patricc@kw.com. I'd be happy to help.
Well, the June numbers are here, and they continue to show signs of a strengthening real estate market!
The Mid-Florida Multiple Listing Service (MLS) reports that the Greater Tampa Association of Realtors (GTAR) closed 1,394 homes in June, up from 1,316 homes in May and up from 1,235 homes in April, and well north of the 791 homes sold in January. This is a little off of the 1,446 in June 2007 but higher than the 1,268 in July 2007, so we might see some press headlines that show the market is slightly off from the year ago period.
There are now 19,363 active GTAR listings, which is down from 19,758 last month and down from our height of 20,942 in October 2007. This is now the second time that we have dropped below 20,000 listings in 2008. In a very positive sign for our market, our months of inventory dropped to 13.89 from 15.01 last month. The months of inventory have not been this low since December 2006! In addition, the average list price is $242,261, which is down from $266,411 last month. The average sales price also decreased to $227,565 from $244,977 last month. Finally, the percentage difference between sell/list increased to 93.93% from 91.95% last month and the average days on market increased to 152 from 124 earlier (possibly due to the long process of short sales – third party approvals).
What price categories sold last month? 196 of the 1394 homes sold in the $200,000-$249,999 price range, making up for 14.06% of the saleable market. Another range that is moving, which represented 11.19% of all sales, is the $140,000-$159,999 range, where 156 homes sold.
The $1,000,000 and up range had a solid month -- 15 units sold for over $1,000,000, which is slightly off of the 18 units from last month but up from 11 in April and 10 in March. The upper end luxury market continues to hold its own, with over 70 homes selling for over $500,000 last month.
Hillsborough County continued its tidal wave of foreclosures with 1,659 in June, slightly off of the 1,671 in May, and up from 1,549 foreclosures in April. There were 615 foreclosures in Pasco County, down from the 733 in May and up from 593 foreclosures in April. Our neighbors over in Polk County saw a big increase with 888 foreclosures, which is up from 685 in May.
Feel free to contact me or visit my website for more information.
Best Regards,
Patricc Petti
Keller Williams Realty
www.tampaluxuryhomespecialist.com
(813)293-9996
Tuesday, July 8, 2008
Buying Vs. Renting in Tampa
MSN offers this article on Buying Vs. Renting! Tampa made the list!
- Patricc Petti, Keep Reading...
66 cities where buying makes sense
Falling prices make homeownership increasingly realistic in some areas.
Just don't expect to make a fast buck.
By Marilyn Lewis, MSN Real Estate
With house prices falling around the country, many renters are wondering if this is the time to jump in and score a deal.
The answer, of course, depends on where you live. In much of the U.S., you're better off buying despite falling home values, say new data compiled by the National Low Income Housing Coalition and the Center for Economic and Policy Research.
Of the 100 most populous metro areas, 57 have average three-bedroom rental costs higher than the cost of a 6% loan for a typical low-priced house, including Little Rock, Ark., and Akron, Ohio. (The study's authors defined low-priced as 75% of the area's median.) Those renting two-bedroom apartments would be better off buying a low-priced home at a loan rate of 6% in 24 of the 100 largest metro areas.
Of course, a crucial component for renters looking to make the leap is credit history. A prospective buyer with credit worthy of a 6% mortgage will pay a third less in monthly payments than someone who qualifies for an 8% loan – in many cities that can be a difference of hundreds of dollars and push them over the line to where renting actually makes more sense.
Even more interesting to potential homebuyers is the chance to build equity. Here, too, there's good news for many major metros. In 66 of the top 100 markets, you'd be in the black in four years should you buy a low-priced home today.
You'd do best in McAllen and El Paso, Texas, where you could build roughly $90,437 in equity with a 6% loan, and just shy of that with a 7% loan. In Syracuse or Buffalo, N.Y., you'd stand to make close to $80,000. In these slow-growing, smaller cities, prices never got run up to the sky. Now, homes are still affordable. And most importantly, the prices aren't likely to come crashing down.
It’s a home, not a get-rich-quick scheme
Safe doesn't mean profitable, however. With prices falling in many markets, housing is too risky these days to expect you'll make money on a house deal, experts caution. The object now is to avoid losing money.
"Don't expect these markets to take off," says Danilo Pelletiere, research director for the National Low Income Housing Coalition and co-author of the study, "Ownership, Rental Costs and the Prospects of Building Home Equity."
"The housing boom passed them by because, in many cases, not much is happening in these towns."
Buyers should look at the purchase as a conservative investment that's unlikely to pay off like an oil-patch scheme and may even lose value, Pelletiere, says. Base the decision on more than profit, on intangibles like the chance to build stability, to join a community, to enjoy a neighborhood or love living in a particular home.
"I wouldn't want anybody to interpret this data as saying here's where you should put your money," Pelletiere says. "What I am saying is, if you want to put your money into a home, these are the cities where owning makes sense."
Visit this link to see the full chart: http://realestate.msn.com/Buying/Article2.aspx?cp-documentid=8378117>1=35000
How much equity you'd have by 2012 if you bought a low-priced home today...
In the Tampa-St. Petersburg-Clearwater, FL area:
6% Loan = $41,847
7% Loan = $40,237
8% Loan = $38,843
Source: Center for Economic and Policy Research and the National Low Income Housing Coalition
* Metropolitan area extends across state borders
If you want more information, give me a call at 813-293-9996.
-Patricc
- Patricc Petti, Keep Reading...
66 cities where buying makes sense
Falling prices make homeownership increasingly realistic in some areas.
Just don't expect to make a fast buck.
By Marilyn Lewis, MSN Real Estate
With house prices falling around the country, many renters are wondering if this is the time to jump in and score a deal.
The answer, of course, depends on where you live. In much of the U.S., you're better off buying despite falling home values, say new data compiled by the National Low Income Housing Coalition and the Center for Economic and Policy Research.
Of the 100 most populous metro areas, 57 have average three-bedroom rental costs higher than the cost of a 6% loan for a typical low-priced house, including Little Rock, Ark., and Akron, Ohio. (The study's authors defined low-priced as 75% of the area's median.) Those renting two-bedroom apartments would be better off buying a low-priced home at a loan rate of 6% in 24 of the 100 largest metro areas.
Of course, a crucial component for renters looking to make the leap is credit history. A prospective buyer with credit worthy of a 6% mortgage will pay a third less in monthly payments than someone who qualifies for an 8% loan – in many cities that can be a difference of hundreds of dollars and push them over the line to where renting actually makes more sense.
Even more interesting to potential homebuyers is the chance to build equity. Here, too, there's good news for many major metros. In 66 of the top 100 markets, you'd be in the black in four years should you buy a low-priced home today.
You'd do best in McAllen and El Paso, Texas, where you could build roughly $90,437 in equity with a 6% loan, and just shy of that with a 7% loan. In Syracuse or Buffalo, N.Y., you'd stand to make close to $80,000. In these slow-growing, smaller cities, prices never got run up to the sky. Now, homes are still affordable. And most importantly, the prices aren't likely to come crashing down.
It’s a home, not a get-rich-quick scheme
Safe doesn't mean profitable, however. With prices falling in many markets, housing is too risky these days to expect you'll make money on a house deal, experts caution. The object now is to avoid losing money.
"Don't expect these markets to take off," says Danilo Pelletiere, research director for the National Low Income Housing Coalition and co-author of the study, "Ownership, Rental Costs and the Prospects of Building Home Equity."
"The housing boom passed them by because, in many cases, not much is happening in these towns."
Buyers should look at the purchase as a conservative investment that's unlikely to pay off like an oil-patch scheme and may even lose value, Pelletiere, says. Base the decision on more than profit, on intangibles like the chance to build stability, to join a community, to enjoy a neighborhood or love living in a particular home.
"I wouldn't want anybody to interpret this data as saying here's where you should put your money," Pelletiere says. "What I am saying is, if you want to put your money into a home, these are the cities where owning makes sense."
Visit this link to see the full chart: http://realestate.msn.com/Buying/Article2.aspx?cp-documentid=8378117>1=35000
How much equity you'd have by 2012 if you bought a low-priced home today...
In the Tampa-St. Petersburg-Clearwater, FL area:
6% Loan = $41,847
7% Loan = $40,237
8% Loan = $38,843
Source: Center for Economic and Policy Research and the National Low Income Housing Coalition
* Metropolitan area extends across state borders
If you want more information, give me a call at 813-293-9996.
-Patricc
Monday, July 7, 2008
Homes Sales Rise 1% Across Tampa Bay Area
I've got Great News to share if you haven't yet read this article in The Tampa Tribune:
Home Sales Rise 1% Across Tampa Bay Area
By RUSSELL RAY | The Tampa Tribune
Published: June 26, 2008
TAMPA - For the first time in two and a half years, home sales in the Tampa Bay area increased while condominium sales continued to plunge.
In May, real estate agents sold 2,270 single-family homes in Tampa, St. Petersburg and Clearwater, up 1 percent compared with the same month last year, according to figures released Thursday by the Florida Association of Realtors.
It's the first year-to-year increase in Bay area home sales since November 2005, when the median price was $222,900, the association said.
Meanwhile, local condominium sales plummeted 16 percent to 511, compared with May 2007.
Statewide, 12,175 single-family homes were sold in May, down 5 percent compared with the same month in 2007. The median sales price fell in Florida from $239,000 in May 2007 to $203,300 last month, a 15 percent decline.
"Bargain hunters have entered the market en masse, especially in areas that have experienced double-digit price declines," said Lawrence Yun, chief economist for the National Association of Realtors.
In the Tampa Bay area, the median sales price for single-family homes was $176,100 in May, down from $209,300 in May 2007.
Florida real estate agents sold 8.7 percent more single-family homes in May than the 11,200 homes sold during the previous month. Condo sales in May totaled 4,018, a 3 percent increase compared with condo sales in April.
"Once again, several of Florida's metropolitan statistical areas reported gains in existing home sales for the month," the Florida Association of Realtors said in a statement. "Realtors around the state reported an increase in buyer interest in their markets, noting more showings, telephone calls and other business activity."
Home sales typically rise in the spring.
During the one-month period, the median price for single-family homes and condos also rose. The median home price rose from $198,900 in April to $203,300 in May. The median price for condos jumped from $179,200 in April to $181,800 in May, according to the association.
Last month, interest rates for a 30-year fixed-rate mortgage averaged 6.04 percent, down from 6.26 percent in May 2007.
Nationally, 4.99 million single-family homes sold in May, 16 percent below the 5.93 million homes sold in May 2007, a report from the National Association of Realtors showed.
Reporter Russell Ray can be reached at (813) 259-7870 or rray@tampatrib.com.
Reader Comments
Posted by ( pepe_santos ) on June 26, 2008 at 7:20 p.m.
In my community, sales have been up 4 months in a row.
Posted by ( Yertown ) on June 26, 2008 at 8:13 p.m.
This is the bottom, folks. If you hate to end up saying "I only wish I knew..." buy now.
Posted by ( nookienow ) on June 26, 2008 at 8:38 p.m.
Home sales are UP, but the average price is diluted because of "short" sales.
Posted by ( bslocum ) on June 27, 2008 at 9:59 a.m.
I guess this means it may be time to get off the fence & buy, 3 homes we have wanted in the last 2 weeks sold from underneath us! So my advice to others is if you see it don't wait to make an offer!
If you or someone you know are curious about whether to BUY or SELL in today's Real Estate Market, Call Me! I'd be happy to help.
Best Regards,
Patricc C. Petti, Realtor ®
Keller Williams Tampa Central
patricc@kw.com
(813) 293-9996
ALHS-Accredited Luxury Home Specialist
http://www.tampaluxuryhomespecialist.com/
http://tampaloftsandcondos.com
Home Sales Rise 1% Across Tampa Bay Area
By RUSSELL RAY | The Tampa Tribune
Published: June 26, 2008
TAMPA - For the first time in two and a half years, home sales in the Tampa Bay area increased while condominium sales continued to plunge.
In May, real estate agents sold 2,270 single-family homes in Tampa, St. Petersburg and Clearwater, up 1 percent compared with the same month last year, according to figures released Thursday by the Florida Association of Realtors.
It's the first year-to-year increase in Bay area home sales since November 2005, when the median price was $222,900, the association said.
Meanwhile, local condominium sales plummeted 16 percent to 511, compared with May 2007.
Statewide, 12,175 single-family homes were sold in May, down 5 percent compared with the same month in 2007. The median sales price fell in Florida from $239,000 in May 2007 to $203,300 last month, a 15 percent decline.
"Bargain hunters have entered the market en masse, especially in areas that have experienced double-digit price declines," said Lawrence Yun, chief economist for the National Association of Realtors.
In the Tampa Bay area, the median sales price for single-family homes was $176,100 in May, down from $209,300 in May 2007.
Florida real estate agents sold 8.7 percent more single-family homes in May than the 11,200 homes sold during the previous month. Condo sales in May totaled 4,018, a 3 percent increase compared with condo sales in April.
"Once again, several of Florida's metropolitan statistical areas reported gains in existing home sales for the month," the Florida Association of Realtors said in a statement. "Realtors around the state reported an increase in buyer interest in their markets, noting more showings, telephone calls and other business activity."
Home sales typically rise in the spring.
During the one-month period, the median price for single-family homes and condos also rose. The median home price rose from $198,900 in April to $203,300 in May. The median price for condos jumped from $179,200 in April to $181,800 in May, according to the association.
Last month, interest rates for a 30-year fixed-rate mortgage averaged 6.04 percent, down from 6.26 percent in May 2007.
Nationally, 4.99 million single-family homes sold in May, 16 percent below the 5.93 million homes sold in May 2007, a report from the National Association of Realtors showed.
Reporter Russell Ray can be reached at (813) 259-7870 or rray@tampatrib.com.
Reader Comments
Posted by ( pepe_santos ) on June 26, 2008 at 7:20 p.m.
In my community, sales have been up 4 months in a row.
Posted by ( Yertown ) on June 26, 2008 at 8:13 p.m.
This is the bottom, folks. If you hate to end up saying "I only wish I knew..." buy now.
Posted by ( nookienow ) on June 26, 2008 at 8:38 p.m.
Home sales are UP, but the average price is diluted because of "short" sales.
Posted by ( bslocum ) on June 27, 2008 at 9:59 a.m.
I guess this means it may be time to get off the fence & buy, 3 homes we have wanted in the last 2 weeks sold from underneath us! So my advice to others is if you see it don't wait to make an offer!
If you or someone you know are curious about whether to BUY or SELL in today's Real Estate Market, Call Me! I'd be happy to help.
Best Regards,
Patricc C. Petti, Realtor ®
Keller Williams Tampa Central
patricc@kw.com
(813) 293-9996
ALHS-Accredited Luxury Home Specialist
http://www.tampaluxuryhomespecialist.com/
http://tampaloftsandcondos.com
Buying Real Estate in the United States
If you live in the United Kingdom and are considering buying a place in Florida, now is a great time! It’s a Buyers' Market! In other words, homes are plentiful and prices are reasonable.
Here are a few tips:
In the States, any real estate agent has access to all available homes for sale. This means you can work with one agent from start to finish (your home search all the way to purchase). This differs in the UK, where you (the buyer) meet with several different real estate agents depending on the property for sale. In the US, we have what is called Multiple Listing Service (MLS). This is the main database that Real Estate agents use to find their buyers the perfect home! And the best thing about this arrangement is that you can work with one agent who knows exactly what you are looking for and who will negotiate so you get the best deal. This saves you time and energy! In the US, a buyer can work with a real estate agent, known as a Buyer’s Specialist. This real estate agent helps you find a home, negotiate the purchase price and ensures a smooth process until completion (or as we call it in the U.S., closing).
Real Estate Terms that Differ between the United Kingdom and the United States.
U.K. = U.S.
Deposit = Down Payment
Survey = Home Inspection
Completion = Closing
If you would like more information on buying in the U.S., please contact me. As a Buyer’s Specialist, I’d be happy to assist in your home searching needs.
Best Regards,
Patricc Petti
Here are a few tips:
In the States, any real estate agent has access to all available homes for sale. This means you can work with one agent from start to finish (your home search all the way to purchase). This differs in the UK, where you (the buyer) meet with several different real estate agents depending on the property for sale. In the US, we have what is called Multiple Listing Service (MLS). This is the main database that Real Estate agents use to find their buyers the perfect home! And the best thing about this arrangement is that you can work with one agent who knows exactly what you are looking for and who will negotiate so you get the best deal. This saves you time and energy! In the US, a buyer can work with a real estate agent, known as a Buyer’s Specialist. This real estate agent helps you find a home, negotiate the purchase price and ensures a smooth process until completion (or as we call it in the U.S., closing).
Real Estate Terms that Differ between the United Kingdom and the United States.
U.K. = U.S.
Deposit = Down Payment
Survey = Home Inspection
Completion = Closing
If you would like more information on buying in the U.S., please contact me. As a Buyer’s Specialist, I’d be happy to assist in your home searching needs.
Best Regards,
Patricc Petti
More about Florida Beaches!
The Coast Is Clear By Sam Dolson
Click link to see article as posted on the St. Petersburg/Clearwater Area Convention & Visitors Bureau website: http://www.floridasbeach.com/cms/index.php?id=385
Family beach-goers, welcome to a sand-lovers paradise with no worries.
That Swiss Family Robinson, sure, they lived on a gorgeous deserted island. But the threat of pirates kept them stuck in their treehouse. For families along Florida’s Beach, there are no such difficulties as those endured by their literary peers. The St. Petersburg/Clearwater area is ringed by a coastline that contains every sandy option imaginable for mom, dad and the kids. And the coast is clear from pirates.
Some might be interested in safety first. For the next family, playtime is the key, while still others might look for crowds (or seclusion).
It’s just a matter of what you’re seeking in a “family beach.”
Fort DeSoto Park - swimming, picnic areas, playground and trails.
When surveying your options, why not start with the best? . . . one of the best in the nation. Fort De Soto Park, at the southern tip of Pinellas County, earned the No. 1 ranking in America for 2005 from coastal geologist Stephen “Dr. Beach” Leatherman, whose annual rankings herald the beginning of summer.
It’s not like Dr. Beach just picks the name of his top beach out of a hat. Fort De Soto Park is No. 1 for a wealth of reasons – “North Beach and Fort De Soto Park just have so much to offer,” Leatherman says – and family considerations top the list.
There are 238 family camping sites, two swim centers, two fishing piers, 14 sheltered picnic areas, scattered playgrounds, miles of recreation and nature trails and a historic fort.
So a day at Fort De Soto Park is a full day. Start by sticking your toes in the sand and splashing among the gentle waves, but understand that you can branch out to nearly any activity from there. For an ideally balanced outing, take the afternoon to hike the mile-long nature trail in the Arrowhead Picnic area and scout out the 105-year-old fort for which the park was named. Then return to the water for a cleansing dip, followed by a sunset cookout.
Lifeguards - Clearwater Beach, Honeymoon Island, Tarpon Springs
Parents might be certain to look for beaches with lifeguards for safety reasons. Parents with teenagers, however, might find those kids happy for the lifeguards for a different reason (flirting, perhaps?).
Along Florida’s Beach there are plenty of spots where lifeguards are available, primarily in public parks. Most County Parks (such as Howard Park in Tarpon Springs or Sand Key Park, south of Clearwater Beach) will have them stationed, as will most State Parks (such as Honeymoon Island, off Dunedin).
For individual cities or towns, it’s best to check individually. The City of Clearwater, for example, staffs lifeguards at Clearwater Beach 365 days a year. Some smaller cities do not have lifeguards along their short stretches of sand.
It’s important to note that many beaches staff lifeguards only through peak beach months (late spring, summer and early autumn). To be certain about the availability of lifeguards, check with the individual park or city in which the beach is located.
Child Friendly
Those with younger children can appreciate the helpfulness of a quality playground. Whether a break from the water is needed, or it’s just for some land-based energy burning, kids rarely resist a chance to climb, swing, slide or tumble.
There are two separate play areas at the base of Pier 60 on Clearwater Beach, with rope ladders and climbable hard-rubber turtles. (The pier is renowned for its “Sunsets at the Pier” celebrations each day, which also feature plenty of kid-related fun.)
At Constitution Park in Redington Shores, an up-to-date playground is just a bit down Sunset Blvd. from the beach access. And in Pass-a-Grille, Hurley Park sits right across Gulf Blvd. from the sands of the Gulf of Mexico, and has swings and a jungle gym to go with its pavilions, showers, basketball courts and baseball field.
Dining
If your idea of an ideal beach day does not include a picnic basket, there are plenty of stops along Florida’s Beach to chow down. From the top of the area to the bottom, Gulf Blvd. follows the contour of the Gulf of Mexico’s shoreline. From mom’n’pop stops to the national chains, it’s all just that close.
Public access beaches at Clearwater Beach, Indian Rocks Beach, Treasure Island and St. Pete Beach and many other locales all provide simple access to a host of dining opportunities. They all range from the quick and easy to the sit-down and fancy, depending on your mood.
If you are considering a move to the beaches, feel free to contact me for more information. I'd be happy to assist!
Click link to see article as posted on the St. Petersburg/Clearwater Area Convention & Visitors Bureau website: http://www.floridasbeach.com/cms/index.php?id=385
Family beach-goers, welcome to a sand-lovers paradise with no worries.
That Swiss Family Robinson, sure, they lived on a gorgeous deserted island. But the threat of pirates kept them stuck in their treehouse. For families along Florida’s Beach, there are no such difficulties as those endured by their literary peers. The St. Petersburg/Clearwater area is ringed by a coastline that contains every sandy option imaginable for mom, dad and the kids. And the coast is clear from pirates.
Some might be interested in safety first. For the next family, playtime is the key, while still others might look for crowds (or seclusion).
It’s just a matter of what you’re seeking in a “family beach.”
Fort DeSoto Park - swimming, picnic areas, playground and trails.
When surveying your options, why not start with the best? . . . one of the best in the nation. Fort De Soto Park, at the southern tip of Pinellas County, earned the No. 1 ranking in America for 2005 from coastal geologist Stephen “Dr. Beach” Leatherman, whose annual rankings herald the beginning of summer.
It’s not like Dr. Beach just picks the name of his top beach out of a hat. Fort De Soto Park is No. 1 for a wealth of reasons – “North Beach and Fort De Soto Park just have so much to offer,” Leatherman says – and family considerations top the list.
There are 238 family camping sites, two swim centers, two fishing piers, 14 sheltered picnic areas, scattered playgrounds, miles of recreation and nature trails and a historic fort.
So a day at Fort De Soto Park is a full day. Start by sticking your toes in the sand and splashing among the gentle waves, but understand that you can branch out to nearly any activity from there. For an ideally balanced outing, take the afternoon to hike the mile-long nature trail in the Arrowhead Picnic area and scout out the 105-year-old fort for which the park was named. Then return to the water for a cleansing dip, followed by a sunset cookout.
Lifeguards - Clearwater Beach, Honeymoon Island, Tarpon Springs
Parents might be certain to look for beaches with lifeguards for safety reasons. Parents with teenagers, however, might find those kids happy for the lifeguards for a different reason (flirting, perhaps?).
Along Florida’s Beach there are plenty of spots where lifeguards are available, primarily in public parks. Most County Parks (such as Howard Park in Tarpon Springs or Sand Key Park, south of Clearwater Beach) will have them stationed, as will most State Parks (such as Honeymoon Island, off Dunedin).
For individual cities or towns, it’s best to check individually. The City of Clearwater, for example, staffs lifeguards at Clearwater Beach 365 days a year. Some smaller cities do not have lifeguards along their short stretches of sand.
It’s important to note that many beaches staff lifeguards only through peak beach months (late spring, summer and early autumn). To be certain about the availability of lifeguards, check with the individual park or city in which the beach is located.
Child Friendly
Those with younger children can appreciate the helpfulness of a quality playground. Whether a break from the water is needed, or it’s just for some land-based energy burning, kids rarely resist a chance to climb, swing, slide or tumble.
There are two separate play areas at the base of Pier 60 on Clearwater Beach, with rope ladders and climbable hard-rubber turtles. (The pier is renowned for its “Sunsets at the Pier” celebrations each day, which also feature plenty of kid-related fun.)
At Constitution Park in Redington Shores, an up-to-date playground is just a bit down Sunset Blvd. from the beach access. And in Pass-a-Grille, Hurley Park sits right across Gulf Blvd. from the sands of the Gulf of Mexico, and has swings and a jungle gym to go with its pavilions, showers, basketball courts and baseball field.
Dining
If your idea of an ideal beach day does not include a picnic basket, there are plenty of stops along Florida’s Beach to chow down. From the top of the area to the bottom, Gulf Blvd. follows the contour of the Gulf of Mexico’s shoreline. From mom’n’pop stops to the national chains, it’s all just that close.
Public access beaches at Clearwater Beach, Indian Rocks Beach, Treasure Island and St. Pete Beach and many other locales all provide simple access to a host of dining opportunities. They all range from the quick and easy to the sit-down and fancy, depending on your mood.
If you are considering a move to the beaches, feel free to contact me for more information. I'd be happy to assist!
America's Top Beaches - by Lynn Waddell
If you love the Beach and are thinking of living in Florida, you should read the below information written By Lynn Waddell. Also, feel free to visit http://www.floridasbeach.com/topbeaches/ for more information.
Home to Caladesi Island State Park, America's No. 1-rated beach in 2008, we offer 35 miles of white-sand beaches on some eight major barrier islands. Our beach offering includes two other top-rated shores: Fort De Soto Park, America's No. 1-rated beach in 2005, and Clearwater Beach, ranked No. 1 for city beaches in the Gulf of Mexico area.
St. Petersburg/Clearwater's Top 5 Beaches
From action-packed beaches to peaceful, protected paradises, the St. Petersburg/Clearwater area serves up some of the state's best shores.
When I first moved to the St. Petersburg/Clearwater area, sight unseen, I'd imagined its beaches to be Florida's typical slice of sand and surf. But it's been 12 years and I still marvel at their unique beauty, number and diversity.
Because these beaches are only a two-hour drive from Orlando and four hours from Fort Lauderdale, my friends and family have been able to discover them with me. Not surprisingly, we've seen several of these beaches regularly end up on coastal expert Stephen Leatherman's (a.k.a. Dr. Beach) national top 10 list. There's more than one to fit your mood, but here's a sampling of my favorites in no particular order.
#1: Fort De Soto Park
A giant American flag waves in the beach breeze as kayakers paddle along the mangrove shoreline. A grey-haired couple pedal along a winding palm-lined bike path, and a family with twins unload their chairs, cooler and pink and orange floats for a day on the sandy beach. It's a typical Saturday morning at Fort De Soto Park, where you'll find just about everything except hotel rooms and snow skiing. The 1,100-acre county park is accessible by car and includes a campground with waterfront sites, three miles of beautiful beaches (including one for dogs), a massive historic fort, a six-mile paved bike trail, kayak rentals, boat ramps, two fishing piers, hiking
trails, a concession, bathhouse and picnic pavilions. It's no wonder that Dr. Beach ranked it America's No. 1 beach in 2005.
#2: Caladesi Island State Park
Pristine island + inaccessible by car + gently sloped sandy beaches + clear blue Gulf = romantic getaway. If it sounds cliché, there's a reason for it. Caladesi Island, just off Honeymoon Island near Dunedin, has been a haven for romantics for more than 70 years. In 2006 and 2007, its sand quality and untouched flora ranked it America's No. 2 beach. In 2008, it was named the nation's best beach. Reach it by ferry or private boat. Although you can find a private spot on one of its beaches, it is not entirely primitive – there are chair and umbrella rentals on the main beach and there's an island marina, kayak rentals, bathhouse and rustic cantina.
#3: Pass-A-Grille / St. Pete Beach
When I'm in the mood to relax on the beach sans high-rises, but want a grouper sandwich within walking distance, I head to the old beach community of Pass-A-Grille, which is technically the lower end of St. Pete Beach. No matter where you stand on this slim strip of island you're never more than two short blocks from the Gulf or the Intracoastal, and you can drive along it with a direct view of the
beach. Its heart is home to the legendary Hurricane restaurant (grouper sandwich mecca), charming shops, other local restaurants and a couple of bars. There are a handful of small motels and an eclectic mix of rental cottages but the cozy community is primarily residential. The more developed and broader end of St. Pete Beach begins just north of the Don CeSar Beach Resort (the stunning Mediterranean-style "Pink Palace"), where Gulf Boulevard widens to four lanes and is lined with resorts, motels, restaurants, beach bars, surf shops, grocers and homes. This beach town still has a retro ambiance and its downtown, a vintage theater.
#4: Shell Key Preserve
There's something liberating about being on a primitive island with no structures – only man-high sand dunes, pines and palms, and white sandy beaches covered in shells. It's here I've seen giant sting rays scurry away across the ocean's floor and the most entertaining yellow-footed birds waddle along the shore. Shell Key is a favored nesting spot for more than 200 species of birds and a popular hang-out for local boaters and ferry passengers. Recently the county ruffled some feathers by forbidding dogs and alcohol on the island, but the decision only aims to preserve the island's natural beauty and protect the feathers of its natural inhabitants (the new rule goes into effect in spring 2008).
#5: Clearwater Beach
There are times to watch birds, and there are times you'd rather watch people. When I prefer the latter, I head to Clearwater Beach. Densely developed with hotels, restaurants, beachwear shops and a marina, the beach town has everything you might want within walking distance. Pier 60 is the nucleus of the beach's energy. By day you can often catch a championship volleyball game and at night watch craftsmen make tourist trinkets of glass, beads and shells. The nightly sunset festival with caricature artists, balloon sculptors and artisan wares is a big hit with families. Couples and singles party down on the dance floors of Shephard's Beach Resort and to live music at Frenchy's Rockaway Grille and the Palm Pavilion Beachside Grill & Bar. In classic St. Petersburg/Clearwater style, this beach truly offers something for everyone.
For more information on planning your in-state getaway to the beaches of the St. Petersburg/Clearwater area, call the St. Petersburg/Clearwater Area Convention & Visitors Bureau at 877-352-3224 or visit www.FloridasBeach.com.
Lynn Waddell is an award-winning journalist and editor who contributes to The New York Times, Newsweek, a variety of travel publications and more.
If you're thinking of moving to the Gulf Coast, I'd be happy to help you find the perfect place!
Home to Caladesi Island State Park, America's No. 1-rated beach in 2008, we offer 35 miles of white-sand beaches on some eight major barrier islands. Our beach offering includes two other top-rated shores: Fort De Soto Park, America's No. 1-rated beach in 2005, and Clearwater Beach, ranked No. 1 for city beaches in the Gulf of Mexico area.
St. Petersburg/Clearwater's Top 5 Beaches
From action-packed beaches to peaceful, protected paradises, the St. Petersburg/Clearwater area serves up some of the state's best shores.
When I first moved to the St. Petersburg/Clearwater area, sight unseen, I'd imagined its beaches to be Florida's typical slice of sand and surf. But it's been 12 years and I still marvel at their unique beauty, number and diversity.
Because these beaches are only a two-hour drive from Orlando and four hours from Fort Lauderdale, my friends and family have been able to discover them with me. Not surprisingly, we've seen several of these beaches regularly end up on coastal expert Stephen Leatherman's (a.k.a. Dr. Beach) national top 10 list. There's more than one to fit your mood, but here's a sampling of my favorites in no particular order.
#1: Fort De Soto Park
A giant American flag waves in the beach breeze as kayakers paddle along the mangrove shoreline. A grey-haired couple pedal along a winding palm-lined bike path, and a family with twins unload their chairs, cooler and pink and orange floats for a day on the sandy beach. It's a typical Saturday morning at Fort De Soto Park, where you'll find just about everything except hotel rooms and snow skiing. The 1,100-acre county park is accessible by car and includes a campground with waterfront sites, three miles of beautiful beaches (including one for dogs), a massive historic fort, a six-mile paved bike trail, kayak rentals, boat ramps, two fishing piers, hiking
trails, a concession, bathhouse and picnic pavilions. It's no wonder that Dr. Beach ranked it America's No. 1 beach in 2005.
#2: Caladesi Island State Park
Pristine island + inaccessible by car + gently sloped sandy beaches + clear blue Gulf = romantic getaway. If it sounds cliché, there's a reason for it. Caladesi Island, just off Honeymoon Island near Dunedin, has been a haven for romantics for more than 70 years. In 2006 and 2007, its sand quality and untouched flora ranked it America's No. 2 beach. In 2008, it was named the nation's best beach. Reach it by ferry or private boat. Although you can find a private spot on one of its beaches, it is not entirely primitive – there are chair and umbrella rentals on the main beach and there's an island marina, kayak rentals, bathhouse and rustic cantina.
#3: Pass-A-Grille / St. Pete Beach
When I'm in the mood to relax on the beach sans high-rises, but want a grouper sandwich within walking distance, I head to the old beach community of Pass-A-Grille, which is technically the lower end of St. Pete Beach. No matter where you stand on this slim strip of island you're never more than two short blocks from the Gulf or the Intracoastal, and you can drive along it with a direct view of the
beach. Its heart is home to the legendary Hurricane restaurant (grouper sandwich mecca), charming shops, other local restaurants and a couple of bars. There are a handful of small motels and an eclectic mix of rental cottages but the cozy community is primarily residential. The more developed and broader end of St. Pete Beach begins just north of the Don CeSar Beach Resort (the stunning Mediterranean-style "Pink Palace"), where Gulf Boulevard widens to four lanes and is lined with resorts, motels, restaurants, beach bars, surf shops, grocers and homes. This beach town still has a retro ambiance and its downtown, a vintage theater.
#4: Shell Key Preserve
There's something liberating about being on a primitive island with no structures – only man-high sand dunes, pines and palms, and white sandy beaches covered in shells. It's here I've seen giant sting rays scurry away across the ocean's floor and the most entertaining yellow-footed birds waddle along the shore. Shell Key is a favored nesting spot for more than 200 species of birds and a popular hang-out for local boaters and ferry passengers. Recently the county ruffled some feathers by forbidding dogs and alcohol on the island, but the decision only aims to preserve the island's natural beauty and protect the feathers of its natural inhabitants (the new rule goes into effect in spring 2008).
#5: Clearwater Beach
There are times to watch birds, and there are times you'd rather watch people. When I prefer the latter, I head to Clearwater Beach. Densely developed with hotels, restaurants, beachwear shops and a marina, the beach town has everything you might want within walking distance. Pier 60 is the nucleus of the beach's energy. By day you can often catch a championship volleyball game and at night watch craftsmen make tourist trinkets of glass, beads and shells. The nightly sunset festival with caricature artists, balloon sculptors and artisan wares is a big hit with families. Couples and singles party down on the dance floors of Shephard's Beach Resort and to live music at Frenchy's Rockaway Grille and the Palm Pavilion Beachside Grill & Bar. In classic St. Petersburg/Clearwater style, this beach truly offers something for everyone.
For more information on planning your in-state getaway to the beaches of the St. Petersburg/Clearwater area, call the St. Petersburg/Clearwater Area Convention & Visitors Bureau at 877-352-3224 or visit www.FloridasBeach.com.
Lynn Waddell is an award-winning journalist and editor who contributes to The New York Times, Newsweek, a variety of travel publications and more.
If you're thinking of moving to the Gulf Coast, I'd be happy to help you find the perfect place!
Friday, June 27, 2008
Have you read The Tampa Tribune today? Great news for Tampa's Real Estate Market:
Home Sales Rise 1% Across Tampa Bay Area
By RUSSELL RAY | The Tampa Tribune
Published: June 26, 2008
TAMPA - For the first time in two and a half years, home sales in the Tampa Bay area increased while condominium sales continued to plunge.
In May, real estate agents sold 2,270 single-family homes in Tampa, St. Petersburg and Clearwater, up 1 percent compared with the same month last year, according to figures released Thursday by the Florida Association of Realtors.
It's the first year-to-year increase in Bay area home sales since November 2005, when the median price was $222,900, the association said.
Meanwhile, local condominium sales plummeted 16 percent to 511, compared with May 2007.
Statewide, 12,175 single-family homes were sold in May, down 5 percent compared with the same month in 2007. The median sales price fell in Florida from $239,000 in May 2007 to $203,300 last month, a 15 percent decline.
"Bargain hunters have entered the market en masse, especially in areas that have experienced double-digit price declines," said Lawrence Yun, chief economist for the National Association of Realtors.
In the Tampa Bay area, the median sales price for single-family homes was $176,100 in May, down from $209,300 in May 2007.
Florida real estate agents sold 8.7 percent more single-family homes in May than the 11,200 homes sold during the previous month. Condo sales in May totaled 4,018, a 3 percent increase compared with condo sales in April.
"Once again, several of Florida's metropolitan statistical areas reported gains in existing home sales for the month," the Florida Association of Realtors said in a statement. "Realtors around the state reported an increase in buyer interest in their markets, noting more showings, telephone calls and other business activity."
Home sales typically rise in the spring.
During the one-month period, the median price for single-family homes and condos also rose. The median home price rose from $198,900 in April to $203,300 in May. The median price for condos jumped from $179,200 in April to $181,800 in May, according to the association.
Last month, interest rates for a 30-year fixed-rate mortgage averaged 6.04 percent, down from 6.26 percent in May 2007.
Nationally, 4.99 million single-family homes sold in May, 16 percent below the 5.93 million homes sold in May 2007, a report from the National Association of Realtors showed.
Reporter Russell Ray can be reached at (813) 259-7870 or rray@tampatrib.com.
Reader Comments
Posted by ( pepe_santos ) on June 26, 2008 at 7:20 p.m.
In my community, sales have been up 4 months in a row.
Posted by ( Yertown ) on June 26, 2008 at 8:13 p.m.
This is the bottom, folks. If you hate to end up saying "I only wish I knew..." buy now.
Posted by ( nookienow ) on June 26, 2008 at 8:38 p.m.
Home sales are UP, but the average price is diluted because of "short" sales.
If you or someone you know are curious about whether to BUY or SELL in today's Real Estate Market, Call Me at 813-293-9996! I'd be happy to help.
- Patricc Petti
Home Sales Rise 1% Across Tampa Bay Area
By RUSSELL RAY | The Tampa Tribune
Published: June 26, 2008
TAMPA - For the first time in two and a half years, home sales in the Tampa Bay area increased while condominium sales continued to plunge.
In May, real estate agents sold 2,270 single-family homes in Tampa, St. Petersburg and Clearwater, up 1 percent compared with the same month last year, according to figures released Thursday by the Florida Association of Realtors.
It's the first year-to-year increase in Bay area home sales since November 2005, when the median price was $222,900, the association said.
Meanwhile, local condominium sales plummeted 16 percent to 511, compared with May 2007.
Statewide, 12,175 single-family homes were sold in May, down 5 percent compared with the same month in 2007. The median sales price fell in Florida from $239,000 in May 2007 to $203,300 last month, a 15 percent decline.
"Bargain hunters have entered the market en masse, especially in areas that have experienced double-digit price declines," said Lawrence Yun, chief economist for the National Association of Realtors.
In the Tampa Bay area, the median sales price for single-family homes was $176,100 in May, down from $209,300 in May 2007.
Florida real estate agents sold 8.7 percent more single-family homes in May than the 11,200 homes sold during the previous month. Condo sales in May totaled 4,018, a 3 percent increase compared with condo sales in April.
"Once again, several of Florida's metropolitan statistical areas reported gains in existing home sales for the month," the Florida Association of Realtors said in a statement. "Realtors around the state reported an increase in buyer interest in their markets, noting more showings, telephone calls and other business activity."
Home sales typically rise in the spring.
During the one-month period, the median price for single-family homes and condos also rose. The median home price rose from $198,900 in April to $203,300 in May. The median price for condos jumped from $179,200 in April to $181,800 in May, according to the association.
Last month, interest rates for a 30-year fixed-rate mortgage averaged 6.04 percent, down from 6.26 percent in May 2007.
Nationally, 4.99 million single-family homes sold in May, 16 percent below the 5.93 million homes sold in May 2007, a report from the National Association of Realtors showed.
Reporter Russell Ray can be reached at (813) 259-7870 or rray@tampatrib.com.
Reader Comments
Posted by ( pepe_santos ) on June 26, 2008 at 7:20 p.m.
In my community, sales have been up 4 months in a row.
Posted by ( Yertown ) on June 26, 2008 at 8:13 p.m.
This is the bottom, folks. If you hate to end up saying "I only wish I knew..." buy now.
Posted by ( nookienow ) on June 26, 2008 at 8:38 p.m.
Home sales are UP, but the average price is diluted because of "short" sales.
If you or someone you know are curious about whether to BUY or SELL in today's Real Estate Market, Call Me at 813-293-9996! I'd be happy to help.
- Patricc Petti
Tuesday, May 27, 2008
Thinking of Buying Real Estate?!
CNN offers another informative article! If you're thinking of buying Real Estate, take a look at these tips:
5 new rules for home buyers
There's no guarantee that prices have hit bottom yet - but that doesn't mean that you can't get a great deal now.
By Amanda Gengler, Money Magazine
Last Updated: May 12, 2008: 1:06 PM EDT
(Money Magazine) -- There's no telling how long the housing crisis will drag on. Here's what you need to know before you start shopping in a rocky market.
Rule 1: You can't time the bottom
Face it: The house you buy today will more than likely be worth less next year. That could get you thinking about trying to time the bottom. Resist. It's harder to do than you think, and this is the best buyers have had it in two decades, with inventories up and mortgage rates low.
Pace yourself, find the perfect place and drive a hard bargain: Ignore the seller's asking price and bid 10% below what comparable homes are selling for. If the seller balks, move on. Remember that if you're trading up, your home could sit. So sell before you buy.
Rule 2: One reason to buy now - mortgage rates
Homes are plentiful and will remain so, but financing will be getting more expensive. True, the Federal Reserve has slashed interest rates, but fixed mortgages don't directly follow the Fed. They reflect the bond market's expectations about inflation, which remains a concern. The 30-year, now at 6.1%, will likely reach mid-6% by December and 7% in 2009, says Celia Chen of Moody's Economy.com.
That means there could be a penalty for waiting to buy even if prices fall more. Today a $250,000 loan would set you back $1,500 a month. At 7%, a $1,500 payment gets you only a $225,000 mortgage. As for variable-rate loans, the spread between conforming ARMs and fixed loans is too narrow to do you much good.
Rule 3: Another reason to buy - rates on big mortgages
Mortgages in amounts greater than $417,000 - the limit for buying by federally sponsored mortgage agencies - usually run a fifth of a percentage point above conventional products. But investors are shunning jumbos, which now average 7.2% and are unlikely to drop much this year, according to HSH Associates.
Certain jumbo borrowers could get relief, however. A new law allows Freddie Mac and Fannie Mae to buy loans as large as $729,750 in 71 high-priced areas. So far "jumbo conforming" loans average 6.6%. The program has gotten off to a slow start; you'll need to shop around. And unless Congress acts, this bargain will disappear at year-end.
Rule 4: Don't buy cheap; buy good schools
By now you've heard from somebody who knows somebody who got a great deal on a foreclosed property. But when you buy a house, you're also buying into a neighborhood. And foreclosures tend to be bunched in areas where residents and speculators alike took out exotic mortgages to get into homes they subsequently found they couldn't afford. That's not a recipe for stability. Prices and quality of life could both decline further.
Similarly, avoid developments that popped up in the past few years. They too likely have a lot of owners with risky loans and little equity, says Mike Larson of Weiss Research. Instead, go for areas with highly rated schools. They generally fare better during downturns, and that pattern is holding today, according to a recent study by real estate site Trulia.com.
Rule 5: Make sure your agent has your interest at heart
The real estate game has a built-in conflict of interest, since the listing agent and your agent both get paid by the seller. And these days more sellers are offering extra cash to buyer's agents.
So make sure you're not being steered to a house that's better for your agent than for you. Agree up front on his commission (typically 3%) and that any extra payments will go to you, says Jon Boyd, past president of a buyer's agent trade group.
SEND FEEDBACK TO MONEY MAGAZINE
First Published: May 12, 2008: 5:41 AM EDT
Find mortgage rates in your area
As a Buyer's Specialist, I'd be happy to help find the perfect home for you. Feel free to call, email, or visit my website for more information.
Best Regards,
Patricc Petti, Realtor
Keller Williams Realty
813-293-9996
Patricc@kw.com
www.tampaluxuryhomespecialist.com
5 new rules for home buyers
There's no guarantee that prices have hit bottom yet - but that doesn't mean that you can't get a great deal now.
By Amanda Gengler, Money Magazine
Last Updated: May 12, 2008: 1:06 PM EDT
(Money Magazine) -- There's no telling how long the housing crisis will drag on. Here's what you need to know before you start shopping in a rocky market.
Rule 1: You can't time the bottom
Face it: The house you buy today will more than likely be worth less next year. That could get you thinking about trying to time the bottom. Resist. It's harder to do than you think, and this is the best buyers have had it in two decades, with inventories up and mortgage rates low.
Pace yourself, find the perfect place and drive a hard bargain: Ignore the seller's asking price and bid 10% below what comparable homes are selling for. If the seller balks, move on. Remember that if you're trading up, your home could sit. So sell before you buy.
Rule 2: One reason to buy now - mortgage rates
Homes are plentiful and will remain so, but financing will be getting more expensive. True, the Federal Reserve has slashed interest rates, but fixed mortgages don't directly follow the Fed. They reflect the bond market's expectations about inflation, which remains a concern. The 30-year, now at 6.1%, will likely reach mid-6% by December and 7% in 2009, says Celia Chen of Moody's Economy.com.
That means there could be a penalty for waiting to buy even if prices fall more. Today a $250,000 loan would set you back $1,500 a month. At 7%, a $1,500 payment gets you only a $225,000 mortgage. As for variable-rate loans, the spread between conforming ARMs and fixed loans is too narrow to do you much good.
Rule 3: Another reason to buy - rates on big mortgages
Mortgages in amounts greater than $417,000 - the limit for buying by federally sponsored mortgage agencies - usually run a fifth of a percentage point above conventional products. But investors are shunning jumbos, which now average 7.2% and are unlikely to drop much this year, according to HSH Associates.
Certain jumbo borrowers could get relief, however. A new law allows Freddie Mac and Fannie Mae to buy loans as large as $729,750 in 71 high-priced areas. So far "jumbo conforming" loans average 6.6%. The program has gotten off to a slow start; you'll need to shop around. And unless Congress acts, this bargain will disappear at year-end.
Rule 4: Don't buy cheap; buy good schools
By now you've heard from somebody who knows somebody who got a great deal on a foreclosed property. But when you buy a house, you're also buying into a neighborhood. And foreclosures tend to be bunched in areas where residents and speculators alike took out exotic mortgages to get into homes they subsequently found they couldn't afford. That's not a recipe for stability. Prices and quality of life could both decline further.
Similarly, avoid developments that popped up in the past few years. They too likely have a lot of owners with risky loans and little equity, says Mike Larson of Weiss Research. Instead, go for areas with highly rated schools. They generally fare better during downturns, and that pattern is holding today, according to a recent study by real estate site Trulia.com.
Rule 5: Make sure your agent has your interest at heart
The real estate game has a built-in conflict of interest, since the listing agent and your agent both get paid by the seller. And these days more sellers are offering extra cash to buyer's agents.
So make sure you're not being steered to a house that's better for your agent than for you. Agree up front on his commission (typically 3%) and that any extra payments will go to you, says Jon Boyd, past president of a buyer's agent trade group.
SEND FEEDBACK TO MONEY MAGAZINE
First Published: May 12, 2008: 5:41 AM EDT
Find mortgage rates in your area
As a Buyer's Specialist, I'd be happy to help find the perfect home for you. Feel free to call, email, or visit my website for more information.
Best Regards,
Patricc Petti, Realtor
Keller Williams Realty
813-293-9996
Patricc@kw.com
www.tampaluxuryhomespecialist.com
How to Sell Fast!
CNN posted a great article for Home Sellers (see below).
5 new rules for home sellers
Whether you're buying or selling, the real estate game has changed. To win, you've got to learn a new playbook.
By Amanda Gengler, Money Magazine
Last Updated: May 12, 2008: 12:39 PM EDT
(Money Magazine) -- Selling a home is a lot trickier than it used to be - here's how to be smart about pricing, presentation and incentives.
Rule 1: Get real about price
Too many sellers set their price based on yesterday's market. Big mistake. "The first buyers in tend to pay the best price, so you need to price it right at the start," says Pamela Liebman, CEO of the Corcoran Group brokerage.
Have three area brokers prepare what's called a comparable market analysis. It will list asking and selling prices of similar homes, as well as amenities and sizes. If there's little inventory in your price range, list for what others are asking. If a lot of homes like yours are on the market, then look to generate buzz, says Liebman.
Set an asking price 10% below what homes like yours have been selling for. That raises the odds of your getting multiple offers. If your market is really frozen and you need to drop the price, make one large cut. No baby steps.
Rule 2: Vet your agent - especially if it's you
Selling on your own in an unprecedented slowdown means you'll have to work awfully hard marketing your home. If you aren't prepared for that, hire a broker. Avoid newbies. You want an agent who has been through good times and bad and who has a track record that you can verify with clients.
Rule 3: Pimp your house - hire a home stager
To sell today, you've got to glam up your home. A stager will help get rid of clutter (especially clutter you don't see); rearrange furniture to create attractive focal points; repurpose underused rooms, turning, say, that makeshift bedroom in the basement into a rec room; and pick paint and curtains that make rooms appear spacious. A consultation may run $200. Completing the plan could cost $1,000 or more. It's worth it.
Rule 4: Cash will make your home look even better
Given the number of listings out there, you want to throw in a little something extra to make your house catch the eye of buyers and their agents. Rather than hand out a cruise or a car - skeptics might wonder why you're so desperate -offer something that will make your home more affordable, such as paying part of the buyer's closing costs.
In the multiple-listing service description of your house that agents can see, let them know you're offering a $1,000 bounty or a 4% commission to the one who brings in the purchaser. It will mean more knocks on your door.
Rule 5: Underwater? Learn to swim
If you're a recent buyer, your mortgage may well top what your home would go for today. About a third of those who bought last year or in 2006 now have negative equity, according to Zillow.com. If a job or family issue compels you to move, your options aren't great, but you have a few.
First, you may be able to persuade your new employer to make you whole on the loan. Second, if the rental market in your area is strong (as is the case in many spots that were healthy but not overly bubbly during the boom), you can become a landlord and wait out the slump. Third, of course, is to sell for as much as you can (see Rule No. 1) and raid your savings for the difference.
Short sales, in which the bank agrees to take less than it's owed and release you from your debt, get a lot of media attention. That doesn't mean they're easy to come by. A bank usually will consider one only if you're at risk for foreclosure. Even then it may say, "No, thanks."
SEND FEEDBACK TO MONEY MAGAZINE
First Published: May 12, 2008: 5:39 AM EDT
Find mortgage rates in your area
If you'd like more information on selling your home, feel free to contact me or search my website for more assistance, www.tampaluxuryhomespecialist.com.
Patricc Petti, Realtor
Keller Williams Realty
813-293-9996
5 new rules for home sellers
Whether you're buying or selling, the real estate game has changed. To win, you've got to learn a new playbook.
By Amanda Gengler, Money Magazine
Last Updated: May 12, 2008: 12:39 PM EDT
(Money Magazine) -- Selling a home is a lot trickier than it used to be - here's how to be smart about pricing, presentation and incentives.
Rule 1: Get real about price
Too many sellers set their price based on yesterday's market. Big mistake. "The first buyers in tend to pay the best price, so you need to price it right at the start," says Pamela Liebman, CEO of the Corcoran Group brokerage.
Have three area brokers prepare what's called a comparable market analysis. It will list asking and selling prices of similar homes, as well as amenities and sizes. If there's little inventory in your price range, list for what others are asking. If a lot of homes like yours are on the market, then look to generate buzz, says Liebman.
Set an asking price 10% below what homes like yours have been selling for. That raises the odds of your getting multiple offers. If your market is really frozen and you need to drop the price, make one large cut. No baby steps.
Rule 2: Vet your agent - especially if it's you
Selling on your own in an unprecedented slowdown means you'll have to work awfully hard marketing your home. If you aren't prepared for that, hire a broker. Avoid newbies. You want an agent who has been through good times and bad and who has a track record that you can verify with clients.
Rule 3: Pimp your house - hire a home stager
To sell today, you've got to glam up your home. A stager will help get rid of clutter (especially clutter you don't see); rearrange furniture to create attractive focal points; repurpose underused rooms, turning, say, that makeshift bedroom in the basement into a rec room; and pick paint and curtains that make rooms appear spacious. A consultation may run $200. Completing the plan could cost $1,000 or more. It's worth it.
Rule 4: Cash will make your home look even better
Given the number of listings out there, you want to throw in a little something extra to make your house catch the eye of buyers and their agents. Rather than hand out a cruise or a car - skeptics might wonder why you're so desperate -offer something that will make your home more affordable, such as paying part of the buyer's closing costs.
In the multiple-listing service description of your house that agents can see, let them know you're offering a $1,000 bounty or a 4% commission to the one who brings in the purchaser. It will mean more knocks on your door.
Rule 5: Underwater? Learn to swim
If you're a recent buyer, your mortgage may well top what your home would go for today. About a third of those who bought last year or in 2006 now have negative equity, according to Zillow.com. If a job or family issue compels you to move, your options aren't great, but you have a few.
First, you may be able to persuade your new employer to make you whole on the loan. Second, if the rental market in your area is strong (as is the case in many spots that were healthy but not overly bubbly during the boom), you can become a landlord and wait out the slump. Third, of course, is to sell for as much as you can (see Rule No. 1) and raid your savings for the difference.
Short sales, in which the bank agrees to take less than it's owed and release you from your debt, get a lot of media attention. That doesn't mean they're easy to come by. A bank usually will consider one only if you're at risk for foreclosure. Even then it may say, "No, thanks."
SEND FEEDBACK TO MONEY MAGAZINE
First Published: May 12, 2008: 5:39 AM EDT
Find mortgage rates in your area
If you'd like more information on selling your home, feel free to contact me or search my website for more assistance, www.tampaluxuryhomespecialist.com.
Patricc Petti, Realtor
Keller Williams Realty
813-293-9996
Wednesday, May 21, 2008
MLS Statistics for Tampa
The Broker of Keller Williams Realty Tampa Central, Chris McLaughlin and Patricc Petti, Sales Associate would like to share the following information regarding Tampa's Real Estate Market:
Well, the April numbers are here, and they continue to show signs of a strengthening real estate market!
The MidFlorida MLS reports that the Greater Tampa Association of Realtors closed 1,235 homes in April, which is up from 1,162 homes in March and well north of the 791 homes sold in January. What truly shows that we've reached a bottom is the comparison over April 2007 numbers -- when we sold 1,249. So in essence we almost sold the same amount of homes that we did a year ago. IMPORTANT: This past April was the highest sales for GTAR since the mortgage crisis began in August of 2007, when we closed 1,384. Ever since August we have consistently closed under 1,235 -- this is important as it represents a "bottom" that has formed for our market, just as last month also did.
There are now 20,117 active GTAR listings, which is down from 20,141 last month and down from our height of 20,942 in October 2007. Our months of inventory dropped to 16.29 from 17.33 in March, but we are still very much in a buyers market. In addition, the average list price dropped to $237,227 from $244,670 last month and the average sales price declined to $222,254 from $230,204 last month. Finally, the percentage difference between sell/list dropped to 93.69% from 94.09% last month and the average days on market increased to 123 from 122 earlier.
What price categories sold last month? 188 of the 1235 homes sold in the $200,000-$249,999 price range, making up for 15.22% of the saleable market. This range made up 14.89% of last month's sales. Another range that is moving, which represented 10.20 of all sales, is the $140,000-$159,999 range, where 126 homes sold. There was also a nice increase in the $250,000-$299,999 range, where last month 110 homes sold versus 76 homes in March.
The $1,000,000 and up range continues to hold its own, with 11 closings last month, which was up from 10 in March. Its a very positive sign for our luxury market, over 70 homes sold for over $500,000 last month.
Foreclosures continued their onslaught. Hillsborough County had 1,549 foreclosures, which is up from 1,419 in March and 1,371 in February. There were 593 foreclosures in Pasco County, which is up from 581 foreclosures in March and 652 in February.
These statistics will be posted onmy website within the next day or two.
-Patricc
Well, the April numbers are here, and they continue to show signs of a strengthening real estate market!
The MidFlorida MLS reports that the Greater Tampa Association of Realtors closed 1,235 homes in April, which is up from 1,162 homes in March and well north of the 791 homes sold in January. What truly shows that we've reached a bottom is the comparison over April 2007 numbers -- when we sold 1,249. So in essence we almost sold the same amount of homes that we did a year ago. IMPORTANT: This past April was the highest sales for GTAR since the mortgage crisis began in August of 2007, when we closed 1,384. Ever since August we have consistently closed under 1,235 -- this is important as it represents a "bottom" that has formed for our market, just as last month also did.
There are now 20,117 active GTAR listings, which is down from 20,141 last month and down from our height of 20,942 in October 2007. Our months of inventory dropped to 16.29 from 17.33 in March, but we are still very much in a buyers market. In addition, the average list price dropped to $237,227 from $244,670 last month and the average sales price declined to $222,254 from $230,204 last month. Finally, the percentage difference between sell/list dropped to 93.69% from 94.09% last month and the average days on market increased to 123 from 122 earlier.
What price categories sold last month? 188 of the 1235 homes sold in the $200,000-$249,999 price range, making up for 15.22% of the saleable market. This range made up 14.89% of last month's sales. Another range that is moving, which represented 10.20 of all sales, is the $140,000-$159,999 range, where 126 homes sold. There was also a nice increase in the $250,000-$299,999 range, where last month 110 homes sold versus 76 homes in March.
The $1,000,000 and up range continues to hold its own, with 11 closings last month, which was up from 10 in March. Its a very positive sign for our luxury market, over 70 homes sold for over $500,000 last month.
Foreclosures continued their onslaught. Hillsborough County had 1,549 foreclosures, which is up from 1,419 in March and 1,371 in February. There were 593 foreclosures in Pasco County, which is up from 581 foreclosures in March and 652 in February.
These statistics will be posted on
-Patricc
Welcome to My Blog!
Welcome to my blog! I’m a Top Realtor in Tampa Bay covering such areas as Davis Island, Harbour Island, Gulf Coast Beach Homes & Condos, South Tampa, Hyde Park, Palma Ceia, and Channelside.
I've lived in Tampa for 35 years. I've resided in Old Hyde Park, Palma Ceia, Boca Grande, and Channelside. I started my sales career in Telecommunications with GTE and transitioned to Real Estate full time 7 years ago. Completing over 150 transactions, I have an in depth knowledge of financing, contracts, inspections, marketing, negotiating, and closing the deal. I’m also a Certified Luxury Home Specialist.
On my blog, I will share useful information about Real Estate and Tampa in general. Feel free to leave your comments or ask questions. Also, check out my website for even more tidbits!
I've lived in Tampa for 35 years. I've resided in Old Hyde Park, Palma Ceia, Boca Grande, and Channelside. I started my sales career in Telecommunications with GTE and transitioned to Real Estate full time 7 years ago. Completing over 150 transactions, I have an in depth knowledge of financing, contracts, inspections, marketing, negotiating, and closing the deal. I’m also a Certified Luxury Home Specialist.
On my blog, I will share useful information about Real Estate and Tampa in general. Feel free to leave your comments or ask questions. Also, check out my website for even more tidbits!
Stay tuned!
Best Regards,
Patricc Petti - Realtor
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