Tampa Real Estate

My primary blog about New Tampa and Wesley Chapel can be found at:

www.NewTampaHomes.blogspot.com 

The Greater Tampa Association of Realtors has released the following average Tampa home prices sold in April, 2009:

The following average sold price information is extracted from data reported to our local mls on single family homes sold in the 2008 calendar year by community in New Tampa: *

*Note: Information deemed reliable but not guaranteed. Based on information from MFRMLS through December 31, 2008. Some homes that closed in late December 2008 may not be included in the calculations. Information only includes data reported in our local MLS system and may not include all new home sales or private sales.-- Russ Perlowski

What does Wesley Chapel, FL have in common with New Orleans, Queen Creek, Enterprise, Helotes, Indian Trail, Castle Rock, and Elk Grove? According to The Gadberry Group out of Little Rock, Arksansas these "Eight from 2008" were all the fastest growing areas in the United States in 2008! Full Details

For additional information about Wesley Chapel, visit my other blog:  www.NewTampaHomes.blogspot.com 

This chart depicts the average sales price of single family homes reported sold in our Multiple Listing System for the 2008 calendar year by community in Wesley Chapel.

Note:  Information deemed reliable but not guaranteed.  Some homes that closed in late December 2008 may not be included in the calculations.  Information only includes information reported in our local MLS system and may not include all new home sales or private sales.

In Desperate Times, Home Sellers Resort to Desperate Tactics

JD Power and Associates has released its 2008 customer satisfaction ratings for Tampa new home builders. In order for a builder to be rated, a minimum of 50 surveys by customers had to be completed and returned. LINK

Wonder how long that washer or dryer is likely to last?  The NAHB has recently released a study on the life expectancy of different home components:  http://www.nahb.org/fileUpload_details.aspx?contentID=72475

Here's a fun news clip/Video about me!  Have a good laugh!

Fun Video Clip about Russ Perlowski

Considering that a home purchase is most likely the most expensive transaction that you will have in your lifetime, the value of a home inspection should be obvious to most.

With a cost of around $300.00 (price varies with inspector, if there is a pool, etc.), it is a small cost to pay to have a professional look at the home.  I recall one time when I had a first time buyer inform me that he wasn't going to get a professional home inspection.  I convinced him of its importance. 

The inspection revealed a number of issues that the seller was responsible for correcting (before closing) per our purchase contract and he more than saved the amount of the cost of inspection.  More importantly, the inspection revealed an electrical problem with the spa which if not corrected could have caused serious injury or death!!

My advice:  PAY FOR THE HOME INSPECTION!! 

The Greater Tampa Association of Realtors® released the statistics for home sales for the month of March 2008.

• Total unit Sales for March were up significantly over February sales (43%).
• Average sales price for units sold in March 08 was $230,204.
• Reported months of inventory of homes on the market based on March sales and inventory has dropped from 25.20 to 17.33.

• Spring and Summer are typically the best times of the year to sell a home. Since we are in February, now is the time to start preparing your home to put it on the market.
  Start by removing all clutter.
  
• Your home will appeal to the most buyers if it has neutral colors, so seriously consider painting those interior rooms that aren’t neutral.
  
• Curb appeal is essential. Consider giving your front door a fresh coat of paint and make sure that the landscaping is neat and attractive. If there ever was a time to have the greenest lawn in the neighborhood, this is it! Additionally, your house, driveway, and patios may need to be pressure washed.
  
• Assess your interior flooring. Getting carpets and grout cleaned can significantly freshen up your home for those buyers.
  
• Clean your home thoroughly. I have never had a buyer complain that a home was too clean!
  
• Your kitchen and bathrooms need to sparkle! Some recommend limiting your kitchen counter tops to only one small appliance to present a clutter free impression.
  
• Plant some red annuals outside. The color red pops in pictures and with buyers who drive by.

With over 680 single family homes currently listed for sale in MLS for zip code area 33647, and over 775 single family homes listed for sale in zip code areas 33543 & 33544, it is essential that you make your home “the star it can be” before you put it on the market.

Additional information on preparing your home for sale can be found on this website:  Staging Your Home, & Staging Tips.

Click on the following link for a VIDEO about preparing the exterior of your home for sale: 

http://www.cnn.com/video/#/video/living/2008/03/19/spring.spruce.cnn

Well, I guess it is more like 15 seconds!  This is the first time that I have made the Wall Street Journal (that I am aware of).

Kitchens by Crayola by June Fletcher

The Greater Tampa Association of Realtors has released the following average home sale prices for Tampa by area for homes sold in January, 2008.

Note: All new home sales and private sales are not included.

If you would like additional information or assistance in your home buying process, please give Russ Perlowski, (813) 494-2124 a call.

Some things you need to know before buying a “Short Sale” / Pre-foreclosure home or bank owned home.

THEY AREN'T FOR SISSIES!!

1. You need to be patient with the process. Unlike “normal” home buying, typically it can take weeks and sometimes months to get an answer on your written offer that is approved by the bank.  Repeat this if you have to counter their counter.

2. You must be pre-approved and submit written proof of your lender preapproval for the loan amount/purchase price at the time you make the offer. (Just as you should on a “normal” home you are considering purchasing.)

3. The homes are almost always sold in an “as is” condition, meaning that NO repairs will be made on the home.

4. Just because it is a short sale or bank owned home doesn’t mean that it is a good buy.

Additional information:  Wall Street Journal

On bank owned properties the banks typically order an appraisal or a “BPO” to determine the list price. A “BPO” is a Broker Price Opinion. I provide broker price opinions for some lenders and they are based on comparative prices of homes that are listed and have sold in the neighborhood, with adjustments for the condition of the home, etc.

A Broker Price Opinion is very similar to a Comparative Market Analysis which I prepare for Buyers on homes before they make a written offer to purchase.

I have seen many instances where the list price of short sale homes or bank owned homes is higher than comparable homes that are not “distressed” homes for sale.  Recently I showed some "short sale" homes.  I thought one had a very attractive price and well below what I considered to be market value, one had what I thought was a "fair" market price and others that were priced high.

Wesley Chapel has as many as 110 "short sale" homes for sale and New Tampa 65.

So, my recommendation is to get an agent that knows the market and can provide you with choices and market analyses on homes.  Just because the home is listed as a "short sale" does not mean that you can't get a better buy on another home that isn't a short sale, and then you probably won't have to purchase it in an "as is" condition or wait weeks to get a reply.

On the other hand, selling a home as a "short sale" requires very specific steps to be taken with the sellers' lender up front if the Seller qualifies.  It is very important that the listing agent take the appropriate steps with the full cooperation of the sellers early on in the process.  Additionally, recently the Greater Tampa Association of Realtors has required new steps for listing a home in this situation and specific language to be included in our multiple listing system and contracts.

If you have questions on buying or selling a home under these circumstances, give me a call.

Russ

In an anticipated move, new home builder TOUSA today announced that it is filing for bankruptcy protection under Chapter 11: "TOUSA, Inc. and certain subsidiaries are filing voluntary petitions for relief under Chapter 11 of the U.S. Bankruptcy Code."

In its press release TOUSA states that the filing includes ENGLE homes. Engle homes has local New Tampa presence in Live Oak Preserve and the Hammocks.

If you are under contract with them to have a house to be built, I would highly recommend that you speaker with your real estate agent.  (I know it wasn't me.)  If you did not have a real estate agent, I think it would be prudent to speak with an attorney.

Additional info. regarding the filing can be found in their PRESS RELEASE .   Previous information regarding TOUSA and Live Oak Preserve has been posted by me at:  www.NewTampaHomes.blogspot.com 

For more detailed information of homes for sale, give me a call at (813) 494-2124.

The Greater Tampa Association of Realtors has released the following data reflecting the months of inventory of homes on the market by month for 2007.  It is important to note that these statistics are based on homes listed for sale, and reported as sold in our mulitple listing system.  Private home sales and all new homes are not included in these numbers.

Interested in knowing more details about a particular Tampa, Land O Lakes, or Wesley Chapel, FL neighborhood?  Please give me a call at (813) 494-2124.  (Russ Perlowski)

I call Bayshore Boulevard in Tampa the street of dreams.  The Bellamy on Bayshore is perhaps the grandest of all condominiums in Tampa: 

From the moment you walk into the Bellamy on Bayshore Boulevard in Tampa you will think you have entered a palace.  This luxury condominium has it all, including a grand entry/lobby with an elegant fountain, wine cellar, conference room, gym with lockers and sauna, casual and formal club rooms, library, billiards room, and its own movie theater. 

The Mediterranean style building, built in 2006, has large outdoor areas as well, including an enormous pool with cabanas, outdoor fireplace, scent garden, and lanais.  Guest suites are available for a nominal fee for your overnight guests, and garage parking is another great feature of the Bellamy.  Additionally, Located minutes from downtown, you will find spectacular views with balconies overlooking the bay and the city. 

The Bellamy-palatial condominium living on Bayshore with million dollar views!

Click on the photo below for a virtual tour of the elegant Bellamy on Bayshore:

(Music is provided)