Tampa House Matters

Tampa Events Calendar - Mid September

2010-09-14T10:00:00.002-04:00

From the arts to ZZ Top, Tampa Bay has it all!

Rowdies Tickets for as little as $10

9/16 Tom Petty & ZZ Top (Forum) 7:30 - 11pm
9/16 Rowdies vs. Austin (Steinbrenner Field) 7:30pm
9/17 Art After Dark (Tampa Museum of Art) 8pm - 11pm
9/18-19 Diego Weekend Characters at the Zoo (Lowry Park Zoo) 11:30am - 1pm
9/18 Ybor City Saturday Market (Centennial Park) 9am - 3pm
9/19 Fallen Heroes Walk (Al Lopez Park) 8am - 1pm
9/24 Zoo Boo (Lowry Park Zoo)
9/24 Greater Tampa Chamber of Commerce Awards Dinner (Convention Center) 6:30 - 9pm
9/24 Rowdies vs. Minnesota (Steinbrenner Field) 7:30pm
9/25 Children's Museum Opening
9/25 USF vs. W. Kentucky (Raymond James Stadium)
9/25 Ybor City Saturday Market (Centennial Park) 9am - 3pm
9/25 Zoo Run (Lowry Park Zoo) 7am - 10am
9/26 Bucs vs. Pittsburg (Stadium) 1pm
9/29 Hyde Park Jazz (Hyde Park)

Website Resources for Foreclosure Help

2010-09-04T11:16:00.001-04:00

Article From HouseLogic.com
Published: July 27, 2010

Here are some legitimate resources to help you fight the foreclosure crisis.

You've been warned about foreclosure scams. But sometimes it's really hard to tell if something is a scam or not. Some less-than-reliable outfits have even taken to including "hud" or "gov" in their URLs to fool you into thinking they are legitimate foreclosure counselors. It pays to be wary. Below are some websites from government and non-profit agencies that can help you with foreclosure. Some are seeking volunteers and donations to help stop the foreclosure crisis.

HOPENOW.COM
Research your options with this web form (http://www.hopenow.com/homeowner-options.php)
Find your mortgage lender (http://www.hopenow.com/mortgage-directory.php)
Find a foreclosure counselor in your area (http://www.hopenow.com/hopenow-counseling.php)
Focused on helping homeowners in crisis, this alliance helps you determine your options

FTC.GOV
Find a foreclosure counselor (http://www.ftc.gov/bcp/edu/pubs/consumer/credit/cre26.shtm)
Raise your own credit score (http://www.ftc.gov/bcp/edu/pubs/consumer/credit/cre03.shtm)
Fix mistakes on your credit report (http://www.ftc.gov/bcp/edu/pubs/consumer/credit/cre13.shtm)
The Federal Trade Commission has expert advice

FINDAFORECLOSURECOUNSELOR.ORG
Find a legitimate foreclosure counselor near you (http://www.findaforeclosurecounselor.org/network/nfmc%5Flookup/)
This non-profit organization was created by Congress to provide financial support, technical assistance, and training for community-based revitalization efforts

MAKINGHOMEAFFORDABLE.GOV
Making Home Affordable (http://www.makinghomeaffordable.gov/)
Making Home Affordable: short sale documents (https://www.hmpadmin.com/portal/programs/foreclosure_alternatives.html)
Making Home Affordable: deed in lieu documents (https://www.hmpadmin.com/portal/programs/foreclosure_alternatives.html)
The official government site for loan modifications and foreclosure alternatives

PORTAL.HUD.GOV
Find resources to avoid foreclosure in your state (http://portal.hud.gov/portal/page/portal/HUD/topics/avoiding_foreclosure/local)
Consult state and local resources

MYFICO.COM
Improve You Credit Score
(http://www.myfico.com/CreditEducation/ImproveYourScore.aspx) Credit Q&A (http://www.myfico.com/crediteducation/questions/)

Credit Basics (http://www.myfico.com/crediteducation/articles/)

Understand credit and your credit scores

ANNUALCREDITREPORT.COM

See your credit report (https://www.annualcreditreport.com/cra/index.jsp)
Get all the details on late payments and other information, but not your actual credit score

RESPONSIBLELENDING.ORG
The Center for Responsible Lending (http://www.responsiblelending.org/)
A non-profit organization that works to stop predatory lending practices

CREDITEDUCATION.ORG
Volunteer to be a credit counselor (http://www.crediteducation.org/Become-a-Volunteer.aspx)
Non-profit agency that works to provide financial literacy

LIVEUNITED.ORG
United Way (http://www.liveunited.org/income/)
Donate or volunteer to decrease the number of families that are financially unstable

NCRC.ORG
Donate to the National Community Reinvestment Coalition (http://www.ncrc.org/index.php)
Send a donation to help NCRC "ensure that people in traditionally underserved communities are treated fairly and justly when applying for credit, opening a bank account, getting a mortgage, a loan, or other financial product or service."

IRS.GOV
The Mortgage Forgiveness Debt Relief Act (http://www.irs.gov/individuals/article/0,,id=179414,00.html)
Get the details about when you might owe taxes on any debt that is canceled through a short sale or deed in lieu of foreclosure

OCC.GOV
Download a PDF on identifying a loan modification scam (http://www.occ.gov/ftp/advisory/2009-1.pdf)
The Office of the Comptroller of the Currency provides detail about scams, including "10 Warning Signs of a Loan Modification Scam."

5 Tips to Prepare Your Home for Sale

2010-09-03T11:10:00.001-04:00

Working to get your home ship-shape for showings will increase its value and shorten your sales time.

Many buyers today want move-in-ready homes and will quickly eliminate an otherwise great home by focusing on a few visible flaws. Unless your home shines, you may endure showing after showing and open house after open house-and end up with a lower sales price. Before the first prospect walks through your door, consider some smart options for casting your home in its best light.

1. Have a home inspection

Be proactive by arranging for a pre-sale home inspection. For $250 to $400, an inspector will warn you about troubles that could make potential buyers balk. Make repairs before putting your home on the market. In some states, you may have to disclose what the inspection turns up.

2. Get replacement estimates

If your home inspection uncovers necessary repairs you can't fund, get estimates for the work. The figures will help buyers determine if they can afford the home and the repairs. Also hunt down warranties, guarantees, and user manuals for your furnace, washer and dryer, dishwasher, and any other items you expect to remain with the house.

3. Make minor repairs

Not every repair costs a bundle. Fix as many small problems-sticky doors, torn screens, cracked caulking, dripping faucets-as you can. These may seem trivial, but they'll give buyers the impression your house isn't well maintained.

4. Clear the clutter

Clear your kitchen counters of just about everything. Clean your closets by packing up little-used items like out-of-season clothes and old toys. Install closet organizers to maximize space. Put at least one-third of your furniture in storage, especially large pieces, such as entertainment centers and big televisions. Pack up family photos, knickknacks, and wall hangings to depersonalize your home. Store the items you've packed offsite or in boxes neatly arranged in your garage or basement.

5. Do a thorough cleaning

A clean house makes a strong first impression that your home has been well cared for. If you can afford it, consider hiring a cleaning service.

If not, wash windows and leave them open to air out your rooms. Clean carpeting and drapes to eliminate cooking odors, smoke, and pet smells. Wash light fixtures and baseboards, mop and wax floors, and give your stove and refrigerator a thorough once-over.

Pay attention to details, too. Wash fingerprints from light switch plates, clean inside the cabinets, and polish doorknobs. Don't forget to clean your garage, too.
More from HouseLogic

Develop a Landscape Plan to Fit Your Budget (http://www.houselogic.com/articles/develop-a-landscape-plan-to-fit-your-budget/)

Spring Cleaning Guide (http://www.houselogic.com/articles/spring-cleaning-guide/)

Article From BuyAndSell.HouseLogic.com
By: G. M. Filisko
Published: February 10, 2010

G.M. Filisko is an attorney and award-winning writer who has found happiness in a Chicago brownstone with the best curb appeal on the block. A frequent contributor to many national publications including Bankrate.com, REALTOR® Magazine, and the American Bar Association Journal, she specializes in real estate, business, personal finance, and legal topics.

5 Tips for Buying a Foreclosure

2010-09-01T15:15:00.021-04:00

When lenders take over a home through foreclosure, they want to sell it as quickly as possible. Since lenders aren't in the real estate business, they turn to real estate brokers for help marketing their properties. Buying a foreclosed home through the multiple listing service can be a bargain, but it can also be a problem-filled process. Here are five tips to help you buy smart.

1. Choose a foreclosure sale expert.
Lenders rarely sell their own foreclosures directly to consumers. They list them with real estate brokers. You can work with a real estate agent who sells foreclosed homes for lenders, or have a buyer's agent find foreclosure properties for you. To locate a foreclosure sales specialist, call local brokers and ask if they are the listing agent for any banks.

Either way, ask the real estate professional which lenders' homes they've sold, how many buyers they've represented in a foreclosed property purchase, how many of those sales they closed last year, and who they legally represent.

If the agent represents the lender, don't reveal anything to her that you don't want the lender to know, like whether you're willing to spend more than you offer for a house.

2. Be ready for complications.
In some states, the former owner of a foreclosed home can challenge the foreclosure in court, even after you've closed the sale. Ask your agent to recommend a real estate attorney who has negotiated with lenders selling foreclosed homes and has defended legal challenges to foreclosures.

Have your attorney explain your state's foreclosure process and your risks in purchasing a foreclosed home. Set aside as much as $5,000 to cover potential legal fees.

3. Work with your agent to set a price.
Ask your real estate agent to show you closed sales of comparable homes, which you can use to set your price. Start with an amount well under market value because the lender may be in a hurry to get rid of the home.

4. Get your financing in order.
Many mortgage market players, such as Fannie Mae, require buyers to submit financing preapproval letters with a purchase offer. They'll also reject all contingencies. Since most foreclosed homes are vacant, closings can be quick. Make sure you have the cash you'll need to close your purchase.

5. Expect an as-is sale.
Most homeowners stopped maintaining their home long before they could no longer make mortgage payments. Be sure to have enough money left after the sale to make at least minor, and sometimes substantive, repairs.

Although lenders may do minor cosmetic repairs to make foreclosed homes more marketable, they won't give you credits for repair costs (or make additional repairs) because they've already factored the property's condition into their asking price.

Lenders will also require that you purchase the home "as is," which means in its current condition. Protect yourself by ordering a home inspection to uncover the true condition of the property, getting a pest inspection, and purchasing a home warranty.

Be sure you also do all the environmental testing that's common to your region to find hazards such as radon, mold, lead-based paint, or underground storage tanks.
More from HouseLogic

What you need to know about the homebuyer tax credit (http://www.houselogic.com/articles/homebuyer-tax-credit-what-you-need-know/)

How to claim your homebuyer tax credit (http://www.houselogic.com/articles/claim-your-homebuyer-tax-credits/)

Other web resources:

How to buy a foreclosure from Fannie Mae (http://www.fanniemae.com/homepath/homebuyers/buying_fanniemaeowned.jhtml)

What to consider when buying a foreclosure as your first home (http://www.nolo.com/legal-encyclopedia/article-29589.html)

By: G. M. Filisko for BuyAndSellHouseLogic.com
Published: March 29, 2010

G.M. Filisko is an attorney and award-winning writer who purchased a foreclosed condominium and found herself in the middle of a months-long dispute between the former homeowner and the bank over whether the foreclosure was conducted properly. Six months after paying the full purchase price, she was finally able to enter the property. A frequent contributor to many national publications including Bankrate.com, REALTOR® Magazine, and the American Bar Association Journal, she specializes in real estate, business, personal finance, and legal topics.

Tampa Events Calendar - September

2010-08-27T16:01:00.004-04:00

Summer break for the kids may be over but there's still lots of great activities to enjoy throughout Tampa Bay.

9/2 Rock the Park (Tampa Museum) 6:30 - 9pm

Visit Lowry Park Zoo for only $5!

9/4-6 Florida's Largest Home Show (Convention Center)
9/4 USF vs. Stony Brook (Raymond James Stadium)
9/4 Ybor City Saturday Market (Centennial Park) 9am - 3pm
9/9-12 Disney On Ice (St. Pete Times Forum)
9/10-12 Tampa Boat Show (Convention Center)
9/11 Ybor City Saturday Market (Centennial Park) 9am - 3pm
9/11 Festival del Sabor (Centennial Park) 10am - 7pm
9/11 Red Bull Art of Motion (Centro Ybor)
9/11 Old School Community Reunion Cookout (Rowlett Park) 12 - 7pm
9/12 $5 Lowry Park Zoo Day (Lowry Park Zoo)
9/12 Bucs vs. Cleveland (Stadium) 1pm
9/16 Tom Petty & ZZ Top (St. Pete Times Forum) 7:30pm
9/16 Rowdies at Steinbrenner Field 7:30pm
9/17 Art After Dark (Tampa Museum of Art) 8pm - 11pm
9/18-19 Diego Weekend Characters at the Zoo (Lowry Park Zoo) 11:30am - 1pm
9/18 Ybor City Saturday Market (Centennial Park) 9am - 3pm
9/19 Fallen Heroes Walk (Al Lopez Park) 8am - 1pm
9/24 Zoo Boo (Lowry Park Zoo)
9/24 Rowdies at Steinbrenner Field 7:30pm
9/25 Children's Museum Opening
9/25 USF vs. W. Kentucky (Raymond James Stadium)
9/25 Ybor City Saturday Market (Centennial Park) 9am - 3pm
9/25 Zoo Run (Lowry Park Zoo) 7am - 10am
9/26 Bucs vs. Pittsburg (Stadium) 1pm
9/29 Hyde Park Jazz (Hyde Park)

Buy Owner Files For Liquidation But Takes On New Clients

2010-08-20T18:46:00.000-04:00

Buy Owner, a broker-free service for individuals who would like to sell their home without hiring a REALTOR, has filed for liquidation. They have filed for a liquidation of the company as a whole in attempts to keep the business up and running rather than liquidate individual assets; however, it's unclear at this time if that will happen.

It's my understanding that the basic concept of Buy Owner is to charge sellers an up-front fee to advertise their properties on the BuyOwner.com website and to assist them in completing the sales contracts.

In the article written by The Palm Beach Post and republished by the Florida Association of Realtors, Philip J. von Kahle, managing director for Michael Moecker & Associates, which is the assignee for Buy Owner, is quoted as saying, "The phones, as far as people interested in the service, remain very active, and we are signing up new clients everyday." So the business is being liquidated but you're still taking people's money for a service which may not be around in a few months. To me, this sounds like greed. I wonder if they have told any of their clients that they are liquidating the company.

The Ultimate Runaround With Chase Bank!

2010-08-12T14:53:00.000-04:00

Short sale properties have become all too prevalent in the Tampa Bay market. Their purpose is to preserve some of the seller's credit and save the lenders thousands of dollars in attorney's fees. This sounds like a worthwhile plan for both sides but apparently the lenders don't see it that way. They seem to enjoy giving the sellers and REALTORS the runaround. A recent event with Chase Bank has reiterated this fact to me.

In January, a qualified first time home buyer looking to take advantage of the First Time Home Buyer Tax Credit, submitted an offer on a home which I had listed. After submitting all the paperwork, waiting, resubmitting paperwork and then renegotiating the purchase price at Chase's request, we were hopeful that the property would close prior to the tax credit expiring. Well, rather than contacting us with a closing date, the negotiator for Chase Bank decided that he didn't have enough paperwork. He requested tax returns which hadn't been filed because Chase Bank wouldn't send the seller a statement of interest he had paid on his mortgage in 2009. The negotiator said that either the seller file his tax returns or he was closing the file. The seller complied but the negotiator still wasn't happy. He then required the seller to create a profit and loss sheet for a business, which they could clearly see from the bank statements, had only brought in $30 for the year. Still this wasn't enough. Now we're at a crossroads. The seller is out of town on a missionary trip and the negotiator says that if the seller doesn't submit ANOTHER bank statement and sign his electronically filed tax returns by the end of the week he's closing the file.

Really Mr. Negotiator, you don't have sufficient paperwork to see that this seller doesn't have enough money to pay for his $69,000 home? We have a buyer who would love to buy the home at the price you requested so that Chase Bank doesn't have to pay thousands of dollars in attorney's fees to foreclose and this isn't good enough for you?

Chase Bank is not the only culprit. Negotiators with many of the banks seem to be on a power trip and revel in the ability to bring even more burden upon these desperate homeowners. They make sellers and REALTORS jump through a string of hoops and make buyers wait sometimes eight months for an answer and closing date. The lenders and their negotiators could care less about the home owners, REALTORS or buyers. The ridiculous part is, if lenders would get their act together and put a system in place to quickly close these short sale properties they would not only avoid the costly foreclosure fees, they would be able to hold the value on properties.

New Home Buyer Tax?

2010-08-11T08:13:00.000-04:00

Beginning September 7th, the cost of mortgage insurance on FHA loans will be increasing. FHA loans only require 3.5% down payment which makes them a preferred loan for most first time home buyers. To avoid the increased mortgage insurance and higher mortgage payment, you must have your FHA case number assigned prior to this change.

Here's a cheesy but informative video from the Florida Association of Mortgage Professionals (FAMB) which explains the increase and exactly how it affects the buyer.

Investors Are Back! Why Is That A Good Thing?

2010-08-10T12:08:00.000-04:00

If you ask most people, they'll tell you that investors drove prices up and caused the housing boom. Well, that's sort of correct.
At the beginning of the housing boom investors were purchasing properties and making wise business decisions, and then the "get rich quick" amateurs came in. These are the people who saw the profits that investors were making and wanted to cash in on a quick buck. They got 100% financing on properties they knew they could flip in a matter of days or weeks. That worked out great for them for a while but these first time investors didn't bother to stop and really look at what the market was doing. They only saw dollar signs. Before the market reached its peak, the true investors had pretty much left the market and were sitting in the corner counting their money. In my opinion, these amateurs actually gave investors a bad name.
A seasoned investor will analyze their decisions and can tell you how much appreciation is expected and depending upon the market, how much rental income they can expect to receive from the property. These seasoned investors have waited their turn and are now coming back. They may be seen as vultures but a lot of times they're the only ones willing to buy the dilapidated houses and fix them up. They are once again making calculated decisions as to repairs costs, potential rental income and eventual appreciation.
As a REALTOR, I see investors as a good indicator of the market. Since investors constantly watch the market they typically can see the rise and fall of the real estate market before it actually happens. Right now, investors are seeing that it's a good time to find great deals, fix the property and rent it out until the market allows enough profit to sell it.
So, next time you're having a conversation about the cause of the real estate crisis just stop and think about whether the blame should really fall on the seasoned investors.

What the Economy Has Taught Me... And Maybe You.

2010-08-09T12:03:00.000-04:00

As a kid, I always hated having nosy neighbors. They always seemed to know what I was doing and if I did something wrong, the story always got back to my mom before I was within a block of my home. Over the years, I've learned these weren't "nosy neighbors" but rather people watching out for each other. As an adult with children of my own, I've come to miss that sense of community.
In most neighborhoods, it's rare to see kids playing in the front yards or neighbors checking on their elderly neighbors. We tend to drive into our garages, close the garage door and never walk back outside or, if we do, we'll head for the fenced backyard. It is great to have some privacy but can you name your neighbor two doors down? What about the neighbor right beside you or across the street from you? Gone are the days of welcoming your new neighbors with fresh baked pies and waving as you see a neighbor drive by, or so I thought.
Typically, the first calls that a REALTOR receives about a new listings are from the neighbors. They always want to know how much the home is listed for. Recently, I've started getting calls asking why they're selling. I just chalked it up to nosy neighbors but a few weeks ago I realized these aren't necessarily nosy neighbors. While at a new listing taking photos I was approached by one such neighbor. This very nice gentleman inquired about the home then offered to mow the lawn for the owners. I explained that the owner was still living in the house and was maintaining the lawn. This kind gentleman had heard that the owners were divorcing and knew that the husband, who was still living in the home, was working lots of hours so he just wanted to offer his help since he was retired and had the time. Then a couple weeks later, I received a call from another neighbor who hadn't seen the owner for a couple of days and knew that he had large dogs which were out in the Florida heat. She wanted to make sure the owner was ok and to see if he needed any help with the dogs. These were just concerned neighbors watching out for each other.
With the sluggish economy and people losing their jobs and homes, there seems to be a rebirth of that sense of community. Neighbors are once again checking on each other so see if they can lend a hand. So, maybe there is some good to come out of the current economy. Maybe we'll realize we actually do need each other and that a neighbor asking how thing are going isn't just a nosy neighbor.

Five Reasons to Buy a Home Now... Plus a Couple More!

2010-08-07T13:03:00.001-04:00

Recently, ForSaleByOwner.com wrote an article, Five Surprising Reasons to Buy a Home Now. It's a great list but not all that "surprising". Don't get me wrong, it's definitely worth reading but I would like to point out some additional reasons which are a little more locally driven.

The inventory of homes on the market has come down drastically in the last couple of years. This is a good indication that we're sitting at the bottom of the market.
New home builders are building inventory homes again. We are seeing builders like Southern Crafted Homes and Lennar clearing land and pouring foundations. We also have had several builders move in which are new to the area like Home Dynamics and Minto.
New home builders are offering great incentives. Each builder offers different incentives but we're seeing $5,000 incentives for active military personnel, 30-year fixed rate financing in the 3.5% - 4% range and lots of free upgrades.
As of September 1st, some of the appraisal issues we've have been dealing with should go away. New regulations will take effect which should stop the undervaluing of homes which have been caused pending sales to fall apart.

If you've been waiting for the right opportunity to invest in a new home, now really is the time!

Tampa Events Calendar - August

2010-07-30T15:43:00.005-04:00

There's lots of things going on in Tampa this month from Bucaneers football to American Idol Live. Check out what's going on.

8/1 Bucs Training Camp (One Buc Place) 2:30 - 5pm
8/1 Nickelodeon presents Storytime Live (PAC/Straz)
8/2 Bucs Training Camp (One Buc Place) 10:20 - 12:30pm
8/4 American Idol Live Tour (St. Pete Times Forum) 6pm
8/4 Bucs Training Camp (One Buc Place) 10:20 - 12:30pm
8/5 Bucs Training Camp (One Buc Place) 2:30 - 4:35pm
8/5 Rock the Park (Tampa Museum) 6:30 - 9pm
8/6 Bucs Training Camp (One Buc Place) 10:20 - 12:30pm
8/7 Bucs Training Camp (Raymond James Stadium) 7-9pm
8/7 Ybor City Saturday Market (Ybor City) 9am - 3pm
8/7 WAZOO Celebration (Lowry Park) 5pm - 11pm
8/13-15 CATS (PAC/Straz)
8/14 Community Survival Day Back to School Giveaway (Al Barnes Park) 8am - 1pm
8/14 Ybor City Saturday Market (Ybor City) 9am - 3pm
8/14 USF Fan Fest (Raymond James Stadium)
8/18 Shriners Imperial Council Parade (Ybor City)
8/20 Art After Dark (Tampa Museum of Art) 8pm - 11pm
8/21 Ybor City Saturday Market (Ybor City) 9am - 3pm
8/21 Bucs vs. Kansas City (Raymond James Stadium) 7:30
8/21-22 Back to School Show (Convention Center)
8/25 Hyde Park Jazz (Hyde Park)
8/25 Rowdies at Steinbrenner Field 7:30pm
8/27 Summer Safari Night (Lowry Park Zoo) 5pm - 8:30pm
8/28 Ybor City Saturday Market (Ybor City) 9am - 3pm
8/28 Bucs vs. Jacksonville (Raymond James Stadium) 7:30pm
8/28 Last Damn Show (St. Pete Times Forum) 6 - 11pm
8/29 Rowdies at Steinbrenner Stadium 4pm

Appraisal Relief

2010-07-26T15:45:00.003-04:00

Finally, it looks like we may a have little help with some of the horrible appraisal issues.

For the last few years lenders have been undervaluing properties. They would not only order an on-site appraisal but many times they would also do a "desktop appraisal" which is slightly better than checking Zillow. Upon receiving the on-site appraisal conducted by a certified appraiser, the lender would would question it based up the information that they received from their desktop appraisal. They then refuse to accept the full value given by the appraiser.

The reason lenders have gotten into the routine of undervaluing properties is because of Fannie Mae's policies on over-valuing. Any lender caught over-valuing properties could be forced by Fannie Mae to buy back the mortgage at a substantial cost.

Starting September 1st lenders selling their loans to Fannie Mae will no longer be able to arbitrarily reduce appraisal values. If they don't agree with the appraiser's value they may contact the appraiser in an attempt to resolve the disagreement. If they are not able to come to an agreement, the lender may then order a second appraisal. In either case, the lender will not be allowed to simply drop the value that supports a sales contract.

Hopefully, this will help hold values and prevent delayed closings due to appraisal issues. If you'd like to read more please read the full article from the Florida REALTORS website.

Trinity Hospital Nearing Completion

2010-07-25T17:08:00.000-04:00

Photo courtesy of Bay News 9

The new hospital in Trinity has been under construction for four years and is now showing some great progress. The steel frame is complete and is scheduled to open next fall. The new hospital will attract new medical facilities and should create additional jobs in the Trinity area. It's nice to finally see some progress on the building.

Check out the full story on Bay News 9.

Featured Community - Concord Station

2010-07-25T10:00:00.003-04:00

Concord Station is a master planned new home community located in Land O' Lakes. It is conveniently located close to the Suncoast Parkway and US 41 for easy access to Tampa and Tampa Bay beaches.

The community features on-site schools, community parks, conservation areas, ponds and a 5,000 square foot clubhouse. Inside the clubhouse are numerous luxuries including a fitness center, a billiards room, multi-purpose space, a catering kitchen, an office and a lounge. Outside is a 5,000 square foot resort-style swimming pool, tennis and basketball courts.

With a new section recently opened, Concord Station offers inventory homes as well as to-be-built homes. The pricing for the community ranges from the mid $100s to the high $200s.

Call (813) 317-4300 today to find out about the incredible deals available and financing specials being offered.

Tampa Events Calendar - July

2010-07-14T13:57:00.005-04:00

Get out and do something!
Check out some of these great events happening around Tampa Bay.

7/16 Art After Dark (Tampa Museum of Art) 8pm - 11pm
7/18 $5 Lowry Park Day Zoo (Lowry Park Zoo)
7/24 Tampa Bay Storm vs. Alabama (St. Pete Times Forum)
7/24 Youth Walking with Charity (MacFarlane Park)
7/28 Hyde Park Jazz (Hyde Park)
7/30 Summer Safar Night (Lowry Park Zoo) 5pm - 8:30pm
7/31 Tampa Bay Storm vs. Orlando (St. Pete Times Forum)

Tampa Real Estate Market Update

2010-07-06T14:51:00.002-04:00

I just finished looking over the new statistics for the housing market in Tampa Bay and the numbers are looking pretty good.

We judge the market is based upon "months supply of homes". That is, at our current rate of sales, if no more homes go on the market how long would to take to sell off all the current inventory. This number was at its highest January 2008 at 25 months worth of homes. Since then we have seen a huge decline. So much so, that Tampa Bay is at the lowest we've seen since June 2006.

To get to a good transition point we need to be at a 4-6 month supply. For the month of May (we trend a month behind), we were at a 7.3 month supply. That shows that the Tampa Bay housing market is heading in the right direction. In the coming months our inventory will probably go up some but that is typical. The lowest supply of homes is typically around June or July but this is still a great trend to see in the market.

Figures are for Hillsborough, Pasco and Pinellas Counties and includes all residential home sales (single family houses, townhomes, condos, villas and mobile homes).

14,830 Reasons The Home Buyer Tax Credit Should Be Extended!

2010-06-30T14:27:00.000-04:00

If you're looking to cash in on the home buyer tax credit, today is your last day to close. There have been talks of an extension for a while but it can't seem to get the support from our lawmakers.

Currently, there are an estimated 14,830 home sales in Florida which will be delayed past the June 30th deadline. These are buyers which qualify for the tax credit in all aspects except for their delayed closing. Why are there so many delayed closing? Short Sales!

Short sales can take from 2 months to typically around 6 months to close, although I have had one take as long as a year. The delay is due to the lenders having so many short sale files and either not enough negotiators or individuals which aren't properly trained. Unfortunately, the one's being penalized in this process are the buyers.

For more information on the number of delayed closing nationwide and a better grasp of the impact this could have, please take a moment to reach the statistics put out by the National Association of REALTORS.

Tampa Events Calendar - July

2010-06-30T12:00:00.008-04:00

Happy Independence Day!

Check out these upcoming Tampa Bay events!

7/2 Tampa Bay Storm vs. Chicago (St. Pete Times Forum)
7/3 Bell's Fireworks for Yankees (Al Lopez Park)
7/4 July 4th Fireworks Celebration (Channelside)
7/10-14 The Sail America Tall Ships (Convention Center)
7/11 Run Thru Hell (Al Lopez Park)
7/14 Pets in the Park (Lykes Park) 11am - 2pm
7/16 Art After Dark (Tampa Museum of Art) 8pm - 11pm
7/18 $5 Lowry Park Day Zoo (Lowry Park Zoo)
7/24 Tampa Bay Storm vs. Alabama (St. Pete Times Forum)
7/24 Youth Walking with Charity (MacFarlane Park)
7/28 Hyde Park Jazz (Hyde Park)
7/30 Summer Safar Night (Lowry Park Zoo) 5pm - 8:30pm
7/31 Tampa Bay Storm vs. Orlando (St. Pete Times Forum)

Strategic Default will get you "locked out" by Fannie Mae

2010-06-24T15:07:00.000-04:00

In a strategic move, some homeowners have decided to walk away from their homes even though they could still afford the payments. They simply decide that their value is too low and they either short sale or allow the bank to foreclose.

Fannie Mae, making a clear statement, announced Wednesday that they will "lock out" borrowers from getting new loans for seven years if they "strategically default" on their loan. Typically, if a person does a short sale then they can't purchase for two years. Fannie Mae is hoping this step will discourage homeowners from walking away from their home because of equity loss.

The Tampa Bay market has seen it's share of equity loss with some homes losing as much as 50%. I can understand the thinking behind why people "strategically default" but I don't think they realize how much it hurts the market. When I say it hurts the "market", I'm referring to your neighbors, family, friends and anyone else that owns a home in the area. That one person that "strategically defaults" brings down the value of all the others who choose not to default.

Please take a moment to read the Wall Street Journal article regarding Fannie Mae's "lock out" plan as well as how their trying to help the homeowners that truly can't afford their mortgages.

$75 million for a 13 bedroom UNFINISHED mansion?

2010-06-23T11:29:00.000-04:00

Much of the US has seen the effects of the slowed economy, from the job market to the housing market. David Siegel, billionaire and CEO of the time-share firm Westgate Resorts, is no exception.

A year ago, Siegel halted construction on his 90,000 square foot mansion when the effects of the economy took their toll on his industry. Recently, he put the unfinished mansion on the market for $75 million.

The sprawling mansion, located outside Orlando, has 23 bathrooms, 13 bedrooms, 10 kitchens, three pools, a bowling alley, skating rink and so much more. Nicknamed "Versailles" by Siegel, the mansion is currently the largest home for sale in the United States.

The home, which is being sold as-is, has no interior walls, carpet or tile. Do you think Siegel will get anywhere close to his $75 million asking price?

Click to see images of the $75 million mansion.

Photos Courtesy of Associated Press

Got bugs? There's an app for that!

2010-06-14T15:29:00.000-04:00

Have you ever found a bug in your home and didn't know what it was? Now there's an iPhone app to help you identify it.

The tropical weather here in Tampa Bay makes it an ideal climate for all kinds of crawling and flying pests, many of which eventually end up in your house. The new iPest1 app which was developed by researchers with the University of Florida Institute of Food and Agricultural Sciences provides color photos and text about almost 40 pest species.

The iPest1 app is already being used by pest professionals and is currently available on the iPhone for $1.99.

To read more about the app please check out this article from the Florida Association of REALTORS.

The week I stopped selling homes and started tearing them down.

2010-05-31T19:38:00.000-04:00

Last week I chose to stop selling homes for four days and start de-constructing houses. The houses I was going to de-construct were not just houses, they were homes. Homes that people loved and had worked hard for. They were homes that the owners had raised their children in and had made memories in. They were also homes that had been ravaged by up to 10 feet of water during a disastrous flood in middle Tennessee.
When I decided to make the trip to lend a hand, I had no idea the support I would receive from my friends and family, the wonderful people I would meet or the feelings which would overwhelm me.

My brother and I drove to Nashville on Wednesday, May 26th. Our first stop was the Anchor Response Team warehouse to drop off donations from clients, friends and family that had so generously given food, clothing, cleaning supplies and more. It was bittersweet to see people coming in to pick up items that we take for granted such as deodorant, socks and water. Everyone I met, from the victims to the volunteers, were filled with gratitude and had such a great spirit about them in spite of the devastation they had endured.

From there we headed to West Nashville to assist in the clean up of an elderly woman's home which had been flooded with about 3 feet of water. We worked along side Mussa, the owner's son who also lived in the home. As we cleaned out the items that his family collected for years, Mussa hid his emotions behind laughter and a smile. I later overheard him talking with someone from Hands On Nashville, the volunteer organization we were working with. He explained the difficulty of having total strangers come in to clear his home of items they deemed trash, such things as family photos, his passport and other trinkets, which were his treasures, had to be left at the curb with the rest of the waterlogged debris. There were a couple things that he rescued from the garbage heap but he never got upset or angry. Each time a volunteer would leave for the day, Mussa was there to show his gratitude with a hug or elbow bump depending upon how dirty he was at the time.

The second and third day were spent at a mobile home park near where I lived for 8 years. The mobile homes were filled with four feet of water (keep in mind that most mobile homes sit about three feet off the ground). When we arrived at the home that had been assigned to us, a lot of the flooring and about half of the drywall had already been removed. The owner's seventy five year old dad and 17 year old son, Kyle, were hard at work pulling the flooring out of the rest of the home. They continued working when we arrived but it was obvious that they were happy to see us.

During a much needed break, I had the opportunity to sit and talk to Kyle and hear his reaction to the events of the last three weeks. He explained that his home hadn't been much to begin with but it was all they had. He has been there every day since the flood hit, helping his dad and grandpa clean out the home and remove the molded debris. I also found out they are still required to pay lot fees to the mobile home park where their shell of a home sits. Kyle went on to tell us how happy he was to have help since his father had a heart attack the day before we arrived and was in the hospital. The second day we were there, Kyle's dad was released from the hospital and was able to come by their home to find about 10 volunteers there helping Kyle and his dad. He thanked us and I overheard him mention that they had received their FEMA funds and the money should be enough to cover rebuilding the mobile home.

My three days spent with these families and volunteers are days which I'm sure I will reflect upon for the rest of my life. I had the opportunity to work along side some of the kindest, most compassionate people I've ever met and made some new friends in the process. I have also been humbled by the strength of these families and the struggles which they will continue to face for a long time to come. To every volunteer, I applaud you and to every family dealing with this disaster, my prayers are with you.

The volunteers from Hands On Nashville. The very tall gentleman behind me with dreads is Mussa.

Tampa Events Calendar - June

2010-05-30T18:00:00.003-04:00

6/4 Joel Osteen (St. Pete Times Forum)
6/5 Spring into Summer (Al Lopez Park)
6/5 Sunset Cinema (Curtis Hixon Park)
6/5 Tampa Bay Storm vs. Oklahoma City (St. Pete Times Forum)
6/6 James Taylor & Carole King (St. Pete Times Forum)
6/8 WWE SmackDown (St. Pete Times Forum)
6/12 Lo Maximo De La Salsa (Performing Arts Center)
6/12 Rowdies Soccer (Steinbrenner Field)
6/15 Maxwell (St. Pete Times Forum)
6/18 Art After Dark (Tampa Museum of Art)
6/19 Riverwalk for Dad's (Cotanchobee Park & Riverwalk)
6/25 Summer Safari Night (Lowry Park Zoo)
6/26 Alpha Gama Delta Walk (Downtown Tampa)
6/26 Bjorn Again (Performing Arts Center)
6/26 Tampa Bay Storn vs. Bossier (St. Pete Times Forum)
6/30 Hyde Park Jazz (Hyde Park)

Hurricane Preparedness - Have a Pet Plan

2010-05-28T17:05:00.000-04:00

For those of us who have pets, they are a part of our family. Since most shelters and hotels have strict policies on pets, you want to be sure you have a plan in case you need to evacuate. By taking these few simple steps, you can reduce a lot of anxiety during an emergency.

Make sure your pets are current on their vaccinations and have proof of the vaccinations handy. Shelters may require proof before you can bring your pet in.
Have a photo of your pet.
Keep a collar and identification on your pet.
Have a properly sized pet carrier for each animal.
Have a pet disaster supply kit which includes a proper identification collar and rabies tag, proper identification on all belongings, a carrier or cage, a leash, an ample supply of food, water and food bowls, any necessary medications, specific care instructions and news papers or trash bags for clean up. Shelters will require these items.
If you are going to a shelter, space may be limited so call ahead and determine availability.

We love our pets. Take the proper steps to ensure their safety.

What would happen if a hurricane hit the oil slick in the Gulf?

2010-05-24T14:00:00.000-04:00

While we here in Tampa Bay sit wondering when and if the oil is going to hit our coast, MIT hurricane experts are concerning themselves with another scenario which could have even worse consequences. What would happen if a hurricane hit the oil slick in the Gulf? With hurricane season upon us and no end in sight to the BP oil disaster, this is a very real possibility.

Check out this article to find out the different scenarios and how they play out.

What would happen if a hurricane hit the oil slick in the Gulf? - By Chris Mooney

Hurricane Preparedness - Securing Your Home

2010-05-24T10:00:00.000-04:00

Securing your home is something that you can do or have done anytime during the year. Since your home is typically your most valuable asset, you want to be sure that it is safe. You can do this by protecting and reinforcing these five critical areas:

If you have an older home, you may want to consider having a wind mitigation inspection performed on your home. A qualified inspector will evaluate each of the above aspects to determine which wind resistance features your home currently has. This will not only help you determine what you should do to reinforce and protect your home, it could also help you get a discount on your homeowner's insurance. The inspection typically costs around $75 but could save you hundreds of dollars per year on your homeowner's insurance.

Hurricane Preparedness - Have a Place to Go

2010-05-18T14:18:00.000-04:00

As you're watching the news and hear that a storm is heading your way the last thing you want to be figuring out is where to go. Have a plan in place.

Don't delay evacuation. If possible, leave before officials order a mandatory evacuation.
Select an evacuation destination that is out of harms way but close to your home. You may even want a couple of destinations selected so that you can choose the safest location.
If possible, plan to stay with a friend or family member. Hotels and shelters will fill up fast. If a hotel is your planned destination point, make a reservations before you leave.
When evacuating, be prepared to wait in traffic. If you leave early, there should be plenty of time to get out of the area. Allowing yourself to get upset due to traffic will only make matters worse.
Make sure you fill up your car with gas before you leave. You could be sitting in traffic for hours and you don't want to run out of gas before you get out of the area.

The GOP Convention Comes to Tampa - Why Do You Care?

2010-05-14T07:35:00.000-04:00

Why should you care that the Republican National Committee has decided to bring their convention to Tampa? Jobs and money!!!
The convention will bring approximately 40,000 visitors to the Tampa Bay area and potentially provide an economic impact of nearly $170 million. The best part is that none of the funding for this will come from local funds.
The Tampa Bay Business Journal give a little more insight on the Convention details in this article Finally! GOP Conventions Comes to Tampa.

Tampa Event Calendar - May

2010-05-13T13:00:00.003-04:00

Check out what's happening in Tampa Bay!

Thru 5/24 Tennesse Flood Donation Drive
(Drop donations at any Prudential Tropical Realty office)

5/15 Easter Seals Walk With Me (Hyde Park)
5/15 Great Strides (Lowry Park Bandshell)
5/15 Spring Walk for Bleeding Disorders (Al Lopez Park)
5/16 $5 Lowry Park Zoo Day
5/20-6/6 Mary Poppins (Performing Arts Center)
5/20-23 Disney on Ice (St. Pete Times Forum)
5/21 Pride & Passion (Tampa Museum of Art)
5/21 Art After Dark (Tampa Museum of Art)
5/21 Friday Extra Concert Series (Curtis Hixon Park)
5/21 Florida Orchestra Pops (PAC)
5/22 Glazer Children's Museum's Imagination Gala (Children's Museum)
5/22 Pride & Passion (Tampa Museum of Art)
5/22 University of Phoenix Graduation (Convention Center)
5/26 Hyde Park Jazz (Hyde Park)
5/27 Rowdies Soccer (Steinbrenner Field)
5/28 Friday Extra (Curtis Hixon Park)
5/28 Summer Safari Night (Lowry Park Zoo)
5/28 Florida Orchestra (PAC)
5/29 Kreature Comforts Doggie Look-A-Like Contest (Davis Island)
5/29 Rowdies Soccer (Steinbrenner Field)

Hurricane Preparedness - Disaster Supply Kit

2010-05-12T11:12:00.000-04:00

You've heard references to having a "disaster supply kit" but may not be sure of what you include in the kit. Here's a list from NOAA of items that you should include.

Water - at least 1 gallon daily per person for 3 to 7 days
Food - at least enough for 3 to 7 days
— non-perishable packaged or canned food / juices
— foods for infants or the elderly
— snack foods
— non-electric can opener
— cooking tools / fuel
— paper plates / plastic utensils
Blankets / Pillows, etc.
Clothing - seasonal / rain gear/ sturdy shoes
First Aid Kit / Medicines / Prescription Drugs
Special Items - for babies and the elderly
Toiletries / Hygiene items / Moisture wipes
Flashlight / Batteries
Radio - Battery operated and NOAA weather radio
Telephones - Fully charged cell phone with extra battery and a traditional (not cordless) telephone set
Cash (with some small bills) and Credit Cards - Banks and ATMs may not be available for extended periods
Keys
Toys, Books and Games - there may be hours or even days with no electricity
Important documents - in a waterproof container or watertight resealable plastic bag
— insurance, medical records, bank account numbers, Social Security card, etc.
Tools - keep a set with you during the storm
Vehicle fuel tanks filled
Pet care items
— proper identification / immunization records / medications
— ample supply of food and water
— a carrier or cage
— muzzle and leash

Hurricane Preparedness - Develop a Family Plan

2010-05-10T09:49:00.000-04:00

It doesn't matter if you have kids or not, you should still have a family plan. Now, your plan may differ depending on if you have kids and how old they are. If you have little kids, obviously there's a lot more planning on your part. If you have teens though, you should talk with them about what to do if you get separated. Even if you're single you should have a plan so that family members know where you are and what's happening.

Here's a few tips to help you create your own family plan.

Discuss with your family the types of hazards that could affect your family (i.e., storm surge, flooding, wind).
Locate a safe room or area for each type of situation. In certain situations the safest place may not be in your home but someplace within your neighborhood.
Determine escape routes from your home and places to meet.
Have an out-of-state friend or family member as a point of contact. This is great for not only if you get separated but also so there's one point of contact for anyone to get updates if you are displaced from your home.
Make a plan for what to do with your pets if you have to evacuate. A lot of shelters won't take pets or require that they be in crates. If you know this ahead of time then you won't be scrambling to find a place for them later.
Post emergency numbers by your phone and make sure your children know when and how to use 911.
Check your insurance coverage. You don't want to find out after the fact that your insurance doesn't cover flood damage.
Stock non-perishable emergency supplies and a disaster supply kit.
Keep a battery powered radio for storm updates. A helpful tip is to change the batteries in the radio at the same time you change your smoke detector batteries so you know they'll work when you need them.
Take a first aid and CPR class. This is a great thing during any time of the year.

Sandra Bullock's House for Sale

2010-05-10T09:44:00.001-04:00

The housing market has slowed the sale of celebrity homes for sale in Tampa Bay. Will it affect the sale of Sandra Bullock's home in California?

Bullock's 3,626 square foot home in Sunset Beach features a gorgeous ocean front view and and sports an asking price of $5.5 million. The question is, will it sell quickly because it belongs to an Oscar-winning actress? The Orange County Register spoke with the agent that has the house listed for sale and who has worked with many celebrity home buyers. Read what she has to say.

Will Sandra Bullock's house sell for $6 mill? | sell, bullock, house - Business - The Orange County Register

TN Flood Donation Drive

2010-05-06T14:42:00.002-04:00

Donation Drive

for the

Residents of Middle Tennessee

May 7 - May 24

Bring you donations to any Prudential Tropical Realty office

(See below for items needed)

Nashville, TN and the surrounding area was hit by a 500 year flood which not only completely flooded Downtown but also devastated neighborhoods throughout the area.

Most of the homeowners did not have flood insurance and have lost everything!

The waters are just now receding and the clean up efforts are now underway.

Please help me reach out to the people of Middle Tennessee!

They are in need of the following items:

Diapers

Baby Formula

Cleaning Supplies

Contractors Trash Bags (Heavy Duty)
Work Gloves

Rubber Gloves

Wet Vacs

Brooms

Mops

Dehumidifiers

Non-perishable Food Items (soup, crackers, pasta)

Bottled Water

Toilet Paper

Toothbrushes

Shampoo

Gently Used Clothing (please separate by gender and age)

With the hurricanes we deal with on a yearly basis, we of all people should understand the devastation caused by natural disasters.

It could be us asking for help next time.

30 Days to Hurricane Season!

2010-05-03T10:49:00.000-04:00

Only 30 days until hurricane season officially begins. Are you prepared?

As a Tampa native, I admit that I tend to be overly relaxed about hurricanes; however, I understand the importance of preparedness. If you haven't gotten your hurricane plan together here's a few suggestions.

Develop a family plan.
Create a disaster supply kit.
Have a place to go.
Secure your home.
Have a pet plan.

Over the next few weeks I will go more in-depth with each of these subjects.

Why do I do this?

2010-04-29T18:26:00.000-04:00

A question was presented to me yesterday by the National Association of REALTORS. Why do you love being a REALTOR? This question is typically answered with comments such as, " I love the flexibility" or "I love being my own boss". Not wanting to repeat the typical answer, I thought about the question for a moment, to truly answer it I needed to start with why I chose to become a REALTOR!

My brother and I were raised by a single mom in Plant City. We had step-dads in and out of our lives but our mom was the main (and sometimes only) bread winner. Raising two kids on a single income left funds a little tight so we moved around often renting wherever our mom could find something affordable.

At 23, my husband and I bought our first house. I still remember the feeling of getting those keys for the first time. I was ecstatic! I couldn't believe I actually had a house of my own. I was the first in my family to own a home. My brother soon followed with a great home just outside of Plant City and then finally after both of her kids bought homes, my mom bought her first house at 50 years old.

As a REALTOR, I get to help people every day achieve what my mom worked so many years to accomplish. Some are newlyweds and just starting their family and others are older individuals that have worked their entire life, just like my mom, to finally be at a point to buy a place they can call their own. To me, there is something very special about being that person, who guides and counsels those first time home buyers as they purchase their first home. I get a little bit of that same ecstatic feeling all over again every time I hand the keys to a new home buyer. THIS is why I love being a REALTOR!

Tampa Events Calendar - May

2010-04-29T15:00:00.003-04:00

Find out what's happening this month in Tampa Bay!

5/1 Arthritis Walk (Al Lopez Park)
5/1 Asian Fest (St. Pete Times Forum)
5/1 Dragon Boat Races (Cotanchobee Park)
5/1 Relay for Life (Davis Island)
5/1 Storm vs. Arizona (St. Pete Times Forum)
5/1 Walk for Life (Ballast Point Park)
5/2 Fiesta Zoo (Lowry Park)
5/2 Dia Del Ninos at Lowry Park Zoo (Lowry Park Zoo)
5/7 Chalk Walk (Hyde Park)
5/7-9 Friday Extra (Curtis Hixon)
5/7-9 Chalk Walk (Hyde Park)
5/7 Storm vs. Jacksonville (St. Pete Times Forum)
5/8 Rowdies Soccer (Steinbrenner Field)
5/8 University of Tampa Graduation (St. Pete Times Forum)
5/8 Symphony Under the Stars (Raymond James Stadium)
5/9 Second Sunday Jazz Brunch (Curtis Hixon)
5/9 Plant High School 5k Run (Al Lopez Park)
5/9 Tom Petty (St. Pete Times Forum)
5/14 Friday Extra (Curtis Hixon Park)
5/14 Florida Orchestra (Performing Arts Center)
5/14 Art After Dark (Tampa Museum of Art)
5/14 Relay for Life (Davis Island)

It's a Short Sale Not a Rubish Sale!

2010-04-28T18:30:00.000-04:00

It seems that there's a little confusion about and the purpose of a short sale and the owner's responsibility. The advantage to doing a short sale is that the impact on your credit is typically far less with a short sale than with a foreclosure. Therefore, it's to a homeowner's advantage to help their Realtor sell their home and not trash it.

Why do I bring this up? Well, I've shown a lot of short sale homes over the past couple of years and most of the homes are in horrible condition. I'm not talking about needing general repairs. I'm referring to homes which have trash left in them, lawns that have been left for nature to reclaim and general vandalism to the walls, cabinets and carpets. Left in this condition there is no way the home will sell. In fact, I can almost guarantee the bank will foreclose before it's sold. I'm not suggesting that the owners dump money into the home to sell it. What I'm suggesting is that the home be left in such a condition that when a buyer walks in, they don't want to turn and run. Clear out the trash, avoid spilling/pouring mysterious liquids on the carpet, don't remove everything that can be taken down with a simple screw driver and wrench (i.e., light fixtures, cabinets, faucets, etc.) and mow the grass if a gnome could easily be lost in it.

Doing these few simple tasks won't cost you any money and will definitely help your agent get your home sold before the bank forecloses.

New Guidelines for Short Sales

2010-04-28T08:32:00.001-04:00

As of April 5th, lenders have new guidelines for the short sale process. These new guidelines have been put in place in an attempt to speed up the process which can take an average of 4-6 months. Along with speeding the process, the new guidelines also offer monetary incentives to both the banks and the homeowner.

While not all the details are included, Reuters wrote a great article that highlights the key points of the policy.

Green home? Not even close!

2010-04-26T10:02:00.002-04:00

If you're going to be named U.N. environmental ambassador maybe you should think about the environment when building your own home. This is what environmentalist are saying about Gisele Bunchen's new home. They feel the 20,000 sq. ft. home is excessively large and aren't very thrilled that it features such amenities as an elevator, six car garage, guest house and lagoon style swimming pool. To find out some of the other features in the home you can read this article from the Boston Herald.

Do you think environmentalists are going overboard or do you think celebrity homes have gotten out of control?

Tampa Celebrity Homes

2010-04-25T15:15:00.003-04:00

Yesterday, I showcased the home built for Matt Geiger. That got me to checking out some of the other celebrity homes in the Tampa area. Here's a list compiled by TBO.com.

TBO.com - celebrity homes
Notice the price listed in the article for Geiger's home. You're getting a real bargain if you buy now.

Enjoy dreaming a bit.

If only I had $12 million dollars!

2010-04-24T10:30:00.003-04:00

Generally, I do updates on our market averages and the foreclosure situation in the Tampa Bay area. Today I decided to show the high end of the Tampa Bay real estate market. There are currently 30 homes for sale in Tampa Bay (Hillsborough, Pinellas and Pasco County) which have an asking price of $5 million or higher with the most expensive being $18 million.

One of my favorites is this gorgeous $12 million Tarpon Springs estate home nestled on 28 acres. This three story home boasts a spacious 28,000 square feet. The home features a full bar, movie theater, spa, wine cellar, cigar room and an amazing outdoor kitchen. If all that's not enough to keep you entertained, there is also a resort style pool, tennis and volleyball courts. Your overnight visitors won't want to leave once they see the 4,900 square foot guest house.

Click here to see some of the other 30 estate homes available.

Listing and photos courtesy of Engel and Volkers Clearwater

EcoFest - Saturday April 24th

2010-04-23T16:45:00.002-04:00

Are you looking for something to do this weekend? Join Learning Gate Community School in Lutz for EcoFest 2010.
There will be live music, workshops, demonstrations, informational booths, green living products and services. Some local artists, green businesses, environmental organizations, alternative health practitioners, renewable energy specialists, organic farms and gardens with produce. All vendors must supply their own tables, chairs and tents.
The event will be open to the public from 9:00 A.M. until 3:00 P.M. Admission to the event is free. For directions and more information please visit www.LearningGate.org.

Are you losing energy?

2010-04-23T11:24:00.001-04:00

Actually, is your house losing energy? In Tampa, we use our air conditioners a lot! Your home could be losing 5-30% of it's energy due to leaky ducts and that could mean a lot of money from your pocket.

Tampa Electric Company (TECO) offers a free energy audit. You can choose either online, phone-assisted or in-home. Whichever you choose, they'll assist you in identifying major problems such as leaky ductwork and insulation and recommend steps you can take to use energy more wisely. To sign up for your free energy audit visit www.TampaElectric.com.

Time is running out to get your tax credit!

2010-04-19T21:51:00.001-04:00

For most, if you're looking to cash in on the tax credit you must be under contract by April 30th and close by June 30th. With all the short sales on the market you may think that you're already out of time. Not true!

Currently, there are 5,284 homes for sale in the Tampa Bay area which are not short sales. These are either regular or bank owned properties which can still go under contract and close in time for the tax credit. Out of those homes 2,283 are under $200,000.

Previously I mentioned that for "most" time is running out. There are special rules for members of the military, foreign service and the intelligence community. The tax credit has been extended for qualified services members until April 30, 2011. For more information please visit http://www.federalhousingtaxcredit.com/service_mem.php.

If you would like to find out which homes are available in your area call me at (813) 317-4300 or send me an email at Homes@LyndieHouse.com.

Tampa Event Calendar - April

2010-04-19T11:31:00.001-04:00

Wondering what to do this week? Check out the Tampa events calendar and get out to enjoy the wonderful Tampa Bay weather.
4/16 Art After Dark (Tampa Museum of Art)
4/16 Storm vs. Dallas (St. Pete Times Forum)
4/17 Bon Jovi (St. Pete Times Forum)
4/17 Movies in the Park (Curtis Hixon Park)
4/18 Click, Clack, Moo (Performing Arts Center)
4/18 Earth Day Festival (Lowry Park Band Shell)
4/18 Taste of New Tampa
4/22 Earth Day 40th Anniversary (Lykes Park)
4/23 Friday EXTRA at Lowry Park
4/23 Giacomo Puccini's La Rondine (PAC)
4/23 Light the Night for Sight (Riverwalk)
4/23 Islands Fest (Davis Island)
4/24 98 Rock Fest (St. Pete Times Forum)
4/24 Enrichment Day Party for the Planet (Lowery Park)
4/24 Florida Orchestra Concert (Curtis Hixon)
4/24 Lupus Walk (Al Lopez Park)
4/24 Puerto Rican Parade and Festival (Legions Field)
4/24 Sweetwater Paddle for the Cure (Riverfront Park)
4/24-25 Buckler's Craft Fair (Convention Center)
4/24 Enrichment Day Party for the Planet (Lowry Park)
4/25 Taste of South Tampa (Hyde Park)
4/27 Get Motivated (St. Pete Times Forum)
4/30 Friday EXTRA at Lowry Park
4/30 Relay for Life (Davis Island)
4/30 The Florida Orchestra (PAC)
4/30 Run for Shelter (Ybor)

Featured Community - LakeShore Ranch (Land O' Lakes, FL)

2010-04-19T11:25:00.003-04:00

LakeShore Ranch is a gated community of well priced homes located on CR 41 in Land O Lakes. Its location offers easy access to the Veteran's / Suncoast Parkway, the airports, downtown Tampa and Clearwater / Pinellas beaches.
LakeShore Ranch is a master-planned community that offers a variety of new home designs. Base pricing for this Tampa new home community range from the $160's to the mid $300's. With floor plans up to 3651 square feet, there is something to fit just about any one's needs.
At the center of LakeShore Ranch's social setting is the club at LakeShore Ranch - a 12,000 square foot Florida Ranch-style clubhouse with a catering kitchen, fitness, gathering spaces and conference room. Along with this gorgeous clubhouse are three resort style swimming pools including a children's pool and lap pool, lighted tennis courts, basketball, amphitheater, picnic area, children's playground and doggie park.
With all the fabulous ammenities and great location you should have no problem keeping busy all year long. To find other new home developments in the area or to see the location of this development please visit www.LyndieHouse.com.

Featured Community - Haven Bend (Tampa, FL)

2010-04-19T11:24:00.003-04:00

Located along the unspoiled shore of Lake Platt, Haven Bend offers just 34 luxury homesites. With the gorgeous views of 63-acre Lake Platt, lakefront living is the centerpiece of the Haven Bend lifestyle. The private neighborhood park in this gated community offers an ideal backdrop for many outdoor events such as lakeside picnics, canoeing or kayaking on Lake Platt, fishing from the community dock/gazebo or a relaxing afternoon spent watching nature.
Whether you choose one of the builder's plans or choose a custom plan, you're sure to be impressed by the builders attention to detail and craftsmanship. The builder's plans include a variety of architectural designs such as Mediterranean Revival, Neotraditional, Victorian and Colonial Revival. Home and homesite packages are currently being offered from the $400's to well over $1 million.
Located in North Tampa along Bearss Avenue, Haven Bend's other asset is its convenient location. Haven Bend is just minutes from I-275, Dale Mabry, Downtown Tampa, Tampa International Airport and shopping.

Featured Community - Grand Hampton (New Tampa / Tampa, FL)

2010-04-19T11:23:00.001-04:00

Located in New Tampa (North Hillsborough County), Grand Hampton offers a long list of amenities, nature at your doorstep and numerous builders to choose from. The base prices range from the $190's to over $1 million. The community includes townhomes, single family and executive homes.
The grand entrance gives you a sense of the distinctive homes nestled behind the gates. Your first view upon entering the gates is of the expansive clubhouse which features a community pool with a slide for the little ones, tennis and basketball courts, fitness center, playground and picnic areas. Along with the gorgeous clubhouse amenities, the community also has bike paths, walking trails and canoeing.
Grand Hampton is conveniently located near I-75, hospitals, restaurants, entertainment and shopping. Experience for yourself all that Grand Hampton has to offer. Call today to schedule an appointment.

Featured Community - Panther Trace (Riverview, FL)

2010-04-19T11:21:00.003-04:00

This master-planned community has numerous builders offering a variety of floor plans and design styles. Panther Trace features single-family homes priced from the $130's - $350's.
At Panther Trace you can just unwind and enjoy the many amenities of the community. Residents enjoy a lavish lagoon-style pool, tennis courts, water play park and playgrounds. Along with these many amenities there is an on-site elementary school. There is also a proposed county park which will be located directly next to the school.
Located in Riverview, Panther Trace is close to I-75 and the Lee Roy Selmon Crosstown for easy access to downtown Tampa and MacDill Air Force

Real estate woes - Scarlett Johansson's $2 million loss

2010-02-12T08:00:00.001-05:00

Here in Tampa Bay, we've seen house prices dip considerably but we're not the only ones with housing woes. Real estate has dipped all across the county and celebrities aren't excluded. It appears Scarlett Johansson is feeling the pressures of the market as well. Take a look at the home that she's selling for a $2 million loss.

Featured Community - Gulf Winds (Holiday, FL)

2010-02-10T17:28:00.001-05:00

Gulf Winds is in Holiday just north of Tarpon Springs. This wonderful Tampa Bay community is situated on the north side of the Hillsborough / Pasco county line. This allows for the lower Pasco County taxes but is still just 5 minutes (or less) from downtown Tarpon Springs and minutes from Dunedin, New Port Richey, Trinity and Land O' Lakes.

This new home community offers both maintenance free villas and single family homes and features a resort style swimming pool and covered cabana, perfect for enjoying the beautiful Florida weather. Pricing for the villas start at $159,990 and the single family houses start at $174,990. Both the villas and single family homes are open and spacious with square footage ranging from 1,745 to 1,883 for the villas and 1,583 to 2,665 for the single family homes.

All of the homes in this Tampa Bay new home community are built with wind resistance and energy savings in mind. Some of the eSmart features included in these homes are double pane windows, low VOC emission paints and carpets, water saving bath faucets and shower heads, ENERGY STAR dishwashers, compact fluorescent light (CFL) bulbs, Low-E windows, increased attic insulation, increased framed wall insulation and much more. For added security, all Gulf Wind homes both villas and single family include hurricane storm shutters, steel-reinforced concrete block construction and reinforced steel garage doors.

Get out and enjoy the great outdoors at one of the four state and county parks, Anclote River Park, Anclote Gulf Park, Anclote Key Preserve State Park and Howard Park, all within minutes of Gulf Winds. Gulf Winds' location provides easy access to Clearwater Beaches, Honeymoon Island and Sunset Beach. If the beaches aren't what you're looking for you can always take a short trip over to Tampa to visit Busch Gardens, Lowry Park Zoo and Adventure Island or head a little further east to Orlando for Universal Studios, Walt Disney World and Sea World.

Upcoming Tampa Bay Events for November

2009-11-20T09:55:00.001-05:00

So, you have family visiting during the Thanksgiving break and you have no clue how to keep them entertained? Here's a few suggestions with a little something for everyone.

11/24 - 1/3 - Wonderland: Alice's New Musical Adventure @ TBPAC
11/25 - Lightning vs. Toronto @ St. Pete Times Forum @ 7pm
11/26 - Turkey Gobble Run @ Al Lopez Park @ 7:30am
11/27 - DIYC Annual Thanksgiving Regatta, Davis Island
11/27 - Hyde Park Tree Lighting
11/27 - Lightning vs. NY Rangers @ St. Pete Times Forum @ 7:30pm
11/28 - USF vs. Miami @ Raymond James Stadium
11/28 - Ybor City Saturday Market @ Centennial Park 9am-3pm
11/30 - Lightning vs. Colorado @ St. Pete Times Forum @ 7:30pm
12/1 - Miley Cyrus 2009 North American Tour @ St. Pete Times Forum @ 7pm
12/1 - 12/23 Plant Museum Victorian Christmas Stroll @ University of Tampa 10am-8pm
12/2 - 12/5 Scrapbook Expo @ Convention Center
12/3 - Hillsborough County Tree Lightning @ Chilura Park

With all these options you should be able to find something to keep everyone from the little one's to the in-laws happy.

Just a little TLC needed...

2009-11-16T01:02:00.002-05:00

Searching through the MLS to see what $40k could buy you, I found this interesting property. I wasn't expecting much out of the property but was humored by the photos.

Not bad for under $40k. Add a little curb appeal and this really has some potential.

On second thought, maybe a little cleaning and decluttering would help.

A recessed ceiling fan?

And it comes with a garden tub and what might be a stained glass window.

It that a "for rent" sign?

Were they really trying to rent this place before putting it on the market for sale?

Have you seen bad MLS photos that you'd like to share? I'd love to see them.

Send them to Homes@LyndieHouse.com.

Land O' Lakes / Lutz Commercial Updates

2009-11-06T18:45:00.001-05:00

There are a couple of changes and updates in the Pasco County area.

Let's start with the opening of the new Wal-Mart in Lutz. It's located in the apex of 41 and Dale Mabry and officially opened Wednesday. This new Super Wal-Mart will take take over for the old Wal-Mart located on SR 54.

Also, driving down SR 54 in Land O' Lakes you may notice construction has started for the new T. Rowe Price building across from the new Publix. The land is being leveled and prepped for construction and a sign is posted for the future T. Rowe Price building.

A little further down SR 54 in Trinity, construction is still moving along for the new hospital at Little Road. The steel framing is now up on all five stories. Construction began in June of 2006 and is expected to be completed in late 2011. The main hospital is planned to be 400,000+ square feet with 236 private beds. There is also a three story 90,000 square foot medical office building planned.

All three of these projects have great benefits for the Pasco area in providing more jobs and housing needs.

Information compiled with assistance from Prudential Commercial Real Estate. All information acquired through public sources and subject to change.

Upcoming Tampa Bay Events

2009-10-19T16:08:00.002-04:00

Finally, the heat is gone and Fall has is upon us. Are you looking for a reason to get out of the house? Check out these upcoming events:

10/22 - 10/25 Zoo Boo @ Lowry Park Zoo
10/23 - 10/25 Tampa Bay International Auto Show @ the Convention Center
10/24    Sinbad @ Tampa Performing Arts Center
10/25              Gothic Graveyard Walk @ Oaklawn Cemetary
10/27 - 11/1    In The Heights @ Tampa Performing Arts Center
10/28              Hyde Park Jazz in Hyde Park

10/29    Halloween Ghost Ship @ Channelside (7:30pm)
10/31    Halloween Ghost Ship Spooktacular for kids (2pm)
10/31              All Hallow's Masquerade Ball @ the Convention Center
10/31              Fall-O-Ween @ Lowry Park Bandshell
10/31              Guavaween 2009 in Ybor City
10/31              Guavaween Family Fun Fest @ Centennial Park (10am - 3pm)

Every Friday    Downtown Market (closed for Thanksgiving)
Every Saturday Ybor City market

Enjoy the great weather before the heat and humidity come back to haunt us.

Using online maps to find your new home

2009-10-17T12:32:00.002-04:00

In Tampa, we have a lot of out-of-state buyers that typically don't have a lot of time to visit homes when they come to town. By using online maps to find your new home you see the terrain, photos of the area, satellite images, traffic and all sorts of other information without even starting the car.
Google Map has a great feature called street view. With street view it's like you're driving through the neighborhood yourself. You can take a virtual drive to see how well the other homes are kept up and the curb appeal of the home that you're interested in. The photos for street view are taken from a special rotating camera placed on top of a car and driven through the area.
Bing's map has a couple features that I really like. The first is the bird's eye view which is made of aerial photos taken from four angles. The photos which make up the bird's eye view are typically taken at different times of the year which allows you to get an idea of how the home looks like during different seasons. The other great feature with Bing is their use of labels. You can have different services, such as hospitals, restaurants and apartments, labeled on the map. This is a great option if you need your next home to be close to a hospital or library.
Using online maps to look at the homes suggested by a local REALTOR will save you time and gas.

Guys in drag? It was all for a good cause.

2009-10-11T21:39:00.003-04:00

Saturday, a very serious subject was turned into a comical event. It was the second annual University Community Hospital Foundation's Heros N Heels walk for cancer. The proceeds from this walk go toward supplying mammograms to women that can't otherwise afford them. Every $100 raised supplies 1 mammogram. The money raised from last year's walk helped diagnose four women who had breast cancer last year.

The walk is a 1 mile course around University Community Hospital in which all walkers must wear heels. Oh, I forgot to mention that all the walkers are men. At the end of the enduring and comical walk, are awards for "best legs" and "most creative outfit". I must admit, all the men were very good sports with some just wearing sensible heels with their regular attire and others going all out. My broker, Russ, happened to be one that went all out (with a little help from his agents). It's great to find people who will do anything for a good cause.

Pasco considers parking fines for blocking sidewalks

2009-10-09T18:14:00.000-04:00

The Pasco County Commissioners are considering imposing parking fines for any cars blocking a portion of a sidewalk. This includes parking in your own driveway. The fine being considered is $15 for the first offense and $30 for future offenses.

I understand the reasons behind the suggested amendment; however, what if someone wishes to have a gathering at their house? You will get ticketed for parking in the road so you try to fit all the cars you can in your driveway. These cars will of course be blocking the sidewalk. What is a person to do?

The proposed amendment comes back for a final hearing on November 3.

For more info please read the article published by the St. Pete Times.

Changes coming to Pasco County

2009-09-24T14:42:00.001-04:00

Not long ago the Lutz/Land O' Lakes area saw the opening of two new malls and a new Super Target. Now even more changes are on the horizon for the area.

A new building has popped up in the apex between 41 and Dale Mabry near county line road in Lutz. This new building will eventually sport the Wal-Mart logo. Most of the exterior of the building is complete with work taking place on the parking lot, road work for entrances and the interior.

Parents of Wiregrass High School or John Long Middle School students are especially thankful for the new SR 56 extension. The extension is now open and continues SR 56 past Wiregrass Mall to allow for a second entrance to Wiregrass HS and John Long Middle.

Word on the street is that Wesley Chapel is expected see more big changes coming over the next few years. The first should be the expansion of Bruce B. Downs Blvd from two to four lanes between SR 56 and SR 54. This will allow access for the new Wesley Chapel Hospital which is rumored to start at the end of the year. Another big project in the works is The Plex, a 470,000 sq. ft. sports and entertainment complex planned adjacent to The Grove. The Plex is expected to start in the winter of 2010 and bring approximately 250 new full time jobs to the area. Once completed, The Plex will include 3 hockey rinks, 36 bowling lanes, an indoor water park, laser tag and rock climbing.

As a Tampa native, I have see Land O' Lakes grow from the swamps while New Tampa/Wesley Chapel emerged from orange groves and cow pastures. It'll be interesting to see how Lutz, Land O' Lakes and Wesley Chapel develop over the next few years.

List compiled with assistance from Prudential Commercial Real Estate.

Cypress Creek Mall... On Again!

2009-09-17T00:10:00.002-04:00

It appears that we may see the bulldozers again at the Cypress Creek Mall site in Lutz. Construction was halted in February 2008 when the developer's wetlands permit was suspended for releasing turbid stormwater into Cypress Creek, nearby wetlands and stormwater retention ponds on the site. In a September 3rd statement, The Army Corp of Engineers announced that their investigation determined this to have been human error rather than the design of the project.

With the explosive population increase in Land O' Lakes and Wesley Chapel, the mall will bring much needed jobs and revenue to the area. Once completed, the mall is expected to create almost 4,000 jobs, an annual revenue of $6 million for Pasco County and $2.4 million for the Pasco County school system.

For more information on the project read this article from the Tampa Bay Business Journal.

Builders are still building? Who would possibly buy from them?

2009-09-14T15:31:00.006-04:00

Believe it or not, builders are still building through out Tampa, Brandon, Land O' Lakes and Wesley Chapel. Not only are they still building spec homes but there are buyers that are having homes built from the ground up! Why would a buyer possibly what to have a home built rather than buy a "used" home on the market? There are plenty of reasons, some personal and some financially driven.

On the personal side, some people just like the idea that they can add their own little touches such as tile/carpet color, cabinet style, etc and even pick which lot the home will be built on. Some buyers also like the thought that they are the first ones to live in the home.

Financially speaking, the builders are offering killer incentives here in the Tampa Bay area. They are offering things such as pricing incentives, appliance packages, design center upgrades and even free pools. Some buyers are asking themselves, "why should I buy a pre-foreclosure that needs repairs when I could buy new for just a little more?". Also, with the $8,000 tax credit it's getting too late to buy some of the pre-foreclosure properties. The tax credit deadline could expire before the home closes.

Whether to buy new or save a little and buy a resale home is a personal preference that each buyer has to decide for themselves. Once you do make that decision be sure to find a good REALTOR that knows the area and can help you determine which community would work best for you. With so many builders and opportunities throughout Tampa Bay you also want to ensure that you're getting the best incentives on the market. It doesn't cost you any more to bring a REALTOR with you, it could actually cost you less.

Clarifing the Tax Credit

2009-09-08T10:58:00.006-04:00

I have heard from a lot of people with questions regarding the "$8k Tax Credit" and there appear to be many misconceptions.

First, let's look at the total amount that is available. While we tend to refer to it as an $8k credit, it is actually up to $8k. The credit is 10 percent of the purchase price of the home, up to $8k. So, if you qualify and you purchase a $70k home then you would actually only receive $7k.

Regardless of what you've heard, this is not only available to first time home buyers. It is intended for anyone who hasn't owned a home for the last three years. If you are married and your spouse owns a home or if you have co-signed for a home, you may not qualify.

Also, to keep the credit, homeowners must use the home as their primary residence for three years.

The credit is phased out for single filers with a modified gross adjusted income of more than $75,000 a year and married couples filing jointly with incomes above $150,000.

One of the most important things to remember at this time is that the puchase must occur before December 1, 2009.

To see if you qualify please consult your tax advisor or you can visit www.irs.gov.

$8,000 Tax Credit for Down Payment

2009-09-01T08:30:00.005-04:00

The deadline for the $8,000 tax credit is quickly approaching and the state has approved doing short term loans so that the tax credit can be used for your down payment but where is the money?

While the state has approved doing the short term loans, each county is responsible for managing the money that's been allocated for these loans. The problem is that each individual county must set up guidelines for loaning the money as well as for collecting the money at the end of the loan. This has been a slow process that most counties haven't yet completed. Since each county will have different guidelines it is also imperative that a homebuyer select their desired county to live in early in the process.

One set of guidelines that we have been given is for Pasco County. In order to qualify for the "Florida Homebuyer Opportunity Program" the homebuyer must first take a Homebuyers Class prior to signing a contract. Once a contract is signed the buyer must go through the approval process with a lender then they must be approved by the county. After approval by the county, it will take five days to receive a check. Because of all these steps it will be a lengthy process from start to finish.

The problem with the delay in setting up these guidelines and the lengthy process in the guidelines which have been established is that the deadline to purchase is quickly approaching. A homebuyer only has three months in which to go through a Homebuyers Class, find a home, apply for a mortgage, wait for the lender's approval and then to apply for the county money. That's assuming that you're considering purchasing in a county which has already set up the guidelines.

Where are the deals?

2009-08-30T20:30:00.002-04:00

Where have all the great real estate deals gone? If you've listened to the news you would think the sky has fallen and everything is a blue light special. There are still deals to be had but you'll have to look a little harder and act quickly.

Depending upon where you are you'll likely find a fair number of "short sales" (pre-foreclosures), bank owned properties and you may even find some regular sales which are great deals.

The advantage of a regular sale is that the buyer and seller can typically come to terms quickly and they can close quickly (30-45 days). There are a lot of properties that are either investor owned or the owner has lived in the property for a number of years and built up equity. In these instances the owner is willing to price the property competitively in order to get them sold quickly.

There has been a lot of talk about bank owned or REO properties recently. These properties are sold off in a several different ways. One of the first ways that the bank attempts to sell the property is through an auction at the courthouse. A novice should not attempt to purchase a property in this manner. If the property doesn't sell at this point then the bank will typically list the property with an REO agent (a real estate agent who specializes in bank owned properties). These properties typically enter the market 10-12% below market value in order to get them sold quickly. Like any other sale, you'll have the opportunity to preview the home and after you go under contract you'll be able to have the home inspected. The down side of bank owned properties is that periodically the lender will have a bidding period during which they will accept multiple offers to see which they would like to accept. Not all bank owned properties are sold in this manner but this is good information to know going into the process.

Of course, there are still lots of "short sales" on the market. These can be great deals if you're willing to wait or you could end up spending a lot of time waiting for nothing. How good of a deal it is depends upon who the lender is and how many lenders are involved. As for the wait, you can expect anywhere from 2 to 6 months for an answer.

You are not the only one that has been listening to all the news about the great deals on the market today. If there is a great deal that hits the market they are being scooped up quickly. Some of the bank owned properties will have several offers on them within the first week. With the affordability of homes and the $8,000 tax credit that is being offered there's starting to be a little feeding frenzy on these below market priced homes.

So what is a home buyer to do? Your best option is to find a good full time REALTOR that will keep up to date with any new properties coming on the market and notify you immediately. Otherwise, you may miss the boat.

Great starter home - $110k

2009-08-27T23:07:00.005-04:00

This property located in the Florida Avenue & Bougainvillea Avenue area has been updated throughout. There are laminate floors throughout most of the home with tile in the wet areas. Both bathrooms have been completely updated. The home features a living room / dining room combination with a separate family room. This is a short sale property and is just waiting for the right buyer.

Tampa Bay Market Update

2009-07-16T15:05:00.003-04:00

We're half way through the year and have had lots of statistics to check out. After scouring over all the stats, there are some encouraging signs out there for the Tampa Bay area. We pull our numbers for the entire area for a better understanding of how our market is affected.

One of the major factors that indicates whether we are in a buyer's market or a seller's market is "Months Supply of Homes". Basically this means that if no more properties come on the market today, how many months would it take to sell off our existing inventory based upon the current rate of sales. Ideally you don't want the leverage to be too heavy for buyers or sellers. In the past few years it's obviously been leaning very much to the buyers advantage. The latest trends have the Tampa Bay market down to a 10.61 month supply of homes. While this seems like a very high number to most, it's fallen from 18.82 in January. It was on a strong decline for the first few months of the year and has tapered off some recently but has still been on a decline every month. This is very encouraging news and hopefully will continue on this same trend.

This doesn't mean we're out of the housing decline by any means. We still have a long way to go and there are indications of another wave of foreclosures on the horizon. All we can do is wait and see at this point and continue watching the numbers to see where we've been and where we're going.

Prudential Tropical Realty turns to Yesner & Boss for legal help

2009-07-02T23:38:00.006-04:00

With short sales and foreclosures making home buying a bit tricky, 15 Tampa Bay offices of Prudential Tropical Realty have signed an agreement with law firm Yesner & Boss to represent clients of the real estate agency.

Financial terms were not disclosed.

The St. Petersburg real estate and bankruptcy law firm will provide corporate counsel for Prudential Tropical offices all over the Tampa Bay region including St. Petersburg, Temple Terrace, Brandon and the Pinellas beaches, according to a release. Realtors will refer clients to the firm who need help with foreclosure defense, short-sale negotiations, asset protection and consumer protection.

“The goal of Yesner & Boss and Prudential Tropical is the same, to help property owners sat in their homes and work their way out of mortgage difficulties to which the current market is subjecting a lot of people,” said Christopher Boss, a partner with Yesner & Boss, in a release.

There are nearly 60,000 homes in foreclosure in Florida, according to Yesner & Boss, and the Tampa Bay region is one of the mostly heavily beset by foreclosures and short sales.

“While there are signs of life flickering in the residential real estate market, it is a long way from flourishing,” Boss said. “And improvement will not be significant until foreclosures return to normal numbers and the backlog of foreclosed properties is cleared. There is, unfortunately, still a lot of work to be done out there.”

Prudential Tropical Realty first opened 50 years ago and now has offices in Pinellas, Hillsborough, Pasco and Hernando counties.

Yesner & Boss was founded in 2004, according to the firm’s Web site, and specializes in real estate, foreclosure defense, bankruptcy, evictions, and corporate planning and probate.

Courtesty of Tampa Bay Business Journel

Now's The Time To Buy... Find Out Why

2009-06-09T14:29:00.003-04:00

You've been hearing that phrase a lot lately, mostly from REALTORS. Well, your banker, Donald Trump and the President have all said it too. Now NY Times Best Selling author, David Bach, explains why this really is the best time to buy.

Smart Homeowners Are Buying Now by David Bach

Update - $8k Tax Credit

2009-06-03T10:32:00.003-04:00

The recently passed $8,000 Tax Credit Down Payment Assistance program passed by the State of Florida seemed doomed when FHA announced that the assistance program could not be used as down payment. The program isn't doomed but FHA has set some guidelines.

You still must have 3.5% of your own funds (or funds gifted from family members) to put toward the down payment. However, the $8,000 tax credit can be used toward closing costs, interest rate buy down or as additional down payment above the 3.5% required. This will still help those individuals who could come up with a portion of the funds needed but couldn't come up with 3.5% AND closing costs. Let's face it, when you're buying your first home you can use all the help you can get.

The Down Payment Assistance program should start some time in July (no definite date has been set yet). Just remember that in order to qualify for the $8,000 tax credit the home must be purchased by December 1, 2009.

New Info on Down Payment Assistance Using $8k Tax Credit

2009-05-30T00:17:00.004-04:00

WASHINGTON – May 29, 2009 – The U.S. Department of Housing and Urban Development (HUD) released more details today about its program to help first-time home buyers use a tax credit as part of a down payment.

HUD announced the program on May 12 at the National Association of Realtors® Housing Summit. In the interim, HUD posted an announcement and then immediately took it down, leading to speculation that the program would be pulled. In response, HUD said the rules had simply not been finalized, and the original announcement had been posted in error.

“We’ve been eager for word from the federal government since the new FHA downpayment assistance plan was announced, and even more so after the program details were first published and then quickly pulled,” says John Sebree, FAR vice president of public policy. “Luckily, that turns out to be a minor setback and there will be a federal downpayment program to complement the $30 million we were successful in securing in the Florida budget.”

The most significant change involves the amount of downpayment required by qualified first-time homebuyers. FHA mortgages require a 3.5 percent downpayment, and the $8,000 tax credit cannot be used to override that requirement. Once the 3.5 percent downpayment requirement has been met, however, the tax credit can be applied to additional costs, including a higher downpayment, paying points to lower the mortgage rate, and/or closing costs. Lenders will treat the tax credit money as a second lien on the home until it’s paid back.

“Mortgage industry leaders have indicated that this type of product may not be immediately available to consumers,” says Sebree. Since lenders will oversee the tax credit loan, they must create internal programs to handle the process.

2009 Florida Budget Approved... and Good News For Home Buyers!

2009-05-11T09:49:00.003-04:00

After an extended session, the Florida Legislature has adjourned and approved a $66.5 billion budget.

The budget includes a few positive items for home owners and new home buyers. The highlight is $30.1 million for down payment assistance programs. Beginning July 1, those who qualify for the federal first-time home buyers tax credit will be able to apply for down payment assistance in advance of closing, and then repay the amount borrowed when they get their tax refund. So, even though $30.1 million was added to the budget for this program it will not cost taxpayers a penny!

Another plus for home owners is a reduction in eviction filing fees from $265 to $180. With the current housing market, there are a huge number of rental properties in Land O' Lakes, Lutz, Wesley Chapel and throughout Tampa Bay. A lot of homeowners either are barely breaking even or renting their properties with a loss. This decrease in eviction costs will help homeowners who need to have tenants removed.

Also, passed with the new budget is a constitutional amendment that will ask voters to limit increases in property tax assessments on all non-homestead properties to 5 percent annually, a rate cap for Citizens policyholders of 10% per year and a bill that puts the burden of proving that a property tax assessment is correct on the appraiser, not the property owner.

Chinese Drywall Issues Hit Tampa Bay Area

2009-05-04T13:05:00.005-04:00

While the rest of the world is focused on Swine Flu, Tampa Bay REALTORS are keeping a close eye on the chinese drywall issues. We've just found out about the first case in the Tampa Bay area. It was announced last month that Lennar Corp was named in the class action lawsuit regarding Chinese drywall. It's recently come to our attention that Lennar is currently repairing townhomes in Tarpon Springs which had the defective drywall installed. WFTS news in Tampa recently aired a story about one of the families that Lennar has relocated during the repair process. For the full story you can visit their website.

Land O' Lakes and Wesley Chapel have been hit hard by the real estate market crash. Will they also be a casualty of Chinese drywall? I'll keep you posted as more news comes available.

End of Session Recap

2009-05-01T22:58:00.005-04:00

The Florida House and Senate have completed their 60th day of the 2009 session. While this is the day they should be adjourning, the 2009 regular session of the Florida Legislature has been extended a full week. The purpose of the extension was to allow more time to finalize the budget.

During the regular session there has been a lot accomplished regarding home ownership. We're still waiting for more information to come our way but a few of the highlights are a constitutional amendment that will ask voters to limit increases in property tax assessments on all non-homestead properties, a cap on rate increases for Citizens policyholders and a bill heading to the Governor's office which would put the burden of proving that a property tax assessment in correct on the property appraiser, not the property owner.

As I hear more information I will pass it along to you. In the meantime, we're watching and waiting for the budget to be finalized. It looks good that the $30 million for down payment assistance to help "front-load" the federal first-time homebuyer tax credit will get approved in the budget. If you're not sure what this is, be sure to check my previous post (Need help with your downpayment?) for more information.

Need help with your downpayment?

2009-04-29T08:47:00.003-04:00

The Florida Senate recently added $55 million in their budget for down payment assistance. The great thing about this, even though they are adding $55 million to the budget it won't actually cost the state a dime.

Their plan is to offer short term loans to home buyers who qualify for the $8,000 tax credit being offered by the federal government. Once the home buyer receives their federal check, they would then repay the loan from the state. This would allow the state to offer assistance without costing tax payers.

I know many first time home buyers in the Tampa Bay area who could make the monthly mortgage payments but simply don't have enough money for the down payment. With home prices dropping and interest rates at an all time low, now would be the perfect time for them to achieve their dream of home ownership. This program would allow them that opportunity. Our only hurdle now is for the House to concur with the Senate position and fund the program.

Now is the time... Time Magazine & Trump agree!

2009-04-18T10:02:00.004-04:00

Time magazine recently posted an article, "Recession Shopping: 10 Things To Buy Right Now" and included along with cars and stocks is housing!

During recent interview with Goodmorning America, Donald Trump was asked about the housing market. Trump's advice today is, "This is a great time to go out and buy a home".

Do you see the trend? With home prices dropping up to 50% in some areas, interest rates at record lows and up to an $8,000 tax incentive for home buyers that haven't owned a home for the last three years, now really is the time to buy. You can find brand new homes in Land O' Lakes, Lutz and Wesley Chapel in the low to mid $100k's and resale homes are even cheaper. It's time to get off the fence and into a home.

Locked In... A New Issue In Our Market.

2009-04-11T11:56:00.001-04:00

A few years ago we were concerned that individuals that had been in their homes for many years and had taken advantage of the homestead exemption and Amendment 10 were locked into their homes because of increasing taxes. Thanks to Gov. Charlie Christ, a solution came about called "Portability" which enabled homeowners to sell their homes and carry their tax savings with them to their new home.

Today we have a similar problem. Homeowners are being locked into their homes because of declining home values. I have been told by several appraisers that if foreclosures are the only thing selling in a community for the past 3 months then that is what they must appraise all the properties on. This process could reduce a home's value by 40-50%. To further hinder the process, lenders are selecting appraisers which may not be from the area. A local appraiser knows exactly what's going on in their market and which communities are similar so that they use them for comparable sales. Regional appraisers will either use only properties from the same community or will use properties from another community that is close in proximity but not similar in style and amenities.

Essentially, this is increasing the number of "short sale" properties on the market. A homeowner may be willing lose the 20-30% equity that they have in their home in order to sell but can't afford to sell once the value has dropped 50%. At that point, their choice is to either stay in the home if they can or to do a "short sale".

Unfortunately, there's not easy solution to this problem. If you are selling your home (and it's not a foreclosure situation), you have the right to write into the contract that a local appraiser must be used. While this doesn't guarantee a good appraisal, it will at least increase your chances.

Add a little humor to your day

2009-04-04T14:15:00.001-04:00

A client bought a new home and the broker wanted to send flowers for the occasion. They arrived at the home and the owner read the card; it said, "Rest In Peace".

The owner was angry and called the florist to complain. After he told the florist of the obvious mistake and how angry he was, the florist said, "Sir, I'm really sorry for the mistake, but rather than getting angry you should imagine this: somewhere there is a funeral taking place today, and they have flowers with a note saying, "Congratulation on your new home".

Always remember, you may have it bad but there is someone else out there that has it worse.

Chinese Drywall Issues

2009-04-02T20:10:00.004-04:00

ORLANDO, Fla. – April 2, 2009 – Drywall imported from China continues to make headlines nationwide, and a growing number of lawsuits have been filed in Florida. In response to the problem, FAR’s Business Forms Forum Task Force is considering a new form that addresses Chinese drywall problems. Task force members are slated to discuss the issue again on April 6.

Attorneys with Higer Lichter Givner, The Blumstein Law Firm and Podhurst Orseck have filed a federal class action lawsuit on behalf of Florida homeowners Janet Morris-Chin and Dajan Green. They’ve targeted Knauf Plasterboard Tianjin Co. Ltd., and the foreign company that distributed that company’s drywall within the United States, Rothchilt International Ltd.

Drywall manufactured in China was used in U.S. homes between 2004 and 2007. According to the lawsuit, toxic chemicals that emanate from the drywall have damaged houses, fixtures and personal property. Members of the class action are also seeking medical monitoring for any adverse effects of prolonged exposure to the toxic chemicals.

“We have filed a national class action because more than 60,000 homes in 13 states are believed to have defective Chinese drywall,” says Victor M. Diaz with Podhurst Orseck. “We anticipate that when the Consumer Products Safety Commission completes its investigation, this product will be recalled across the country. This could be potentially one of the largest product liability cases related to home construction in U.S. history.”

Read More...

Courtesy of Florida Association of Realtors

Group Challenges T. Rowe Price Move

2009-03-25T14:54:00.006-04:00

Financial giant, T. Rowe Price, is moving their operations from Tampa and one of the locations they are considering is Land O' Lakes. This move could potentially bring more than 1,600 jobs to Pasco County. Sounds great, right? A local environmental group doesn't thing so.

Citizens for Sanity, Pasco County's home-grown environmental group, has challenged the development permit T. Rowe Price received from the Southwest Florida Water Management District. Their complaint is that of the 94 acres of land that T. Rowe Price plans to development, 1 acre of the land is wetlands.

So, essentially Citizens for Sanity is willing to trade 1,600 jobs for 1 acre of wetlands. The T. Rowe Price move would bring jobs, home buyers and additional people spending money in our restaurants and other local businesses. Call me insane but I think 1 acre of wetlands is a pretty good trade off in a county that has a large amount of wetlands.

$8,000 Home Buyer Tax Credit - Do You Qualify?

2009-03-19T17:59:00.003-04:00

The government is now offering an $8,000 First Time Home Buyer tax credit. You may be thinking, "I don't qualify for that, I've owned a home in the past." Well, you may still qualify. For this tax credit, the IRS defines a first time home buyer as anyone who has not owned a home in the last three years.

The tax credit is equal to 10 percent of the home's purchase price up to a maximum of $8,000. So if you buy a $70,000 home then you can get $7,000 or if you buy a home over $80,000 then you can receive the full $8,000 tax credit. Unlike previous First Time Home Buyer tax credits, this credit does not have to be repaid. And, if you buy soon, you may be able to amend your 2008 taxes so that you get the tax credit now rather than waiting until the end of 2009. You'll have to speak with your accountant or tax advisor for more information on amending your taxes.

There are income restrictions but they are pretty lenient. For single taxpayers, the maximum income is $75,000 and for married couples the maximum is $150,000 to qualify for the full tax credit.

Just another great reason why now really is the time to buy!

If you would like more information on this tax credit, you can visit FederalHousingTaxCredit.com. If you would like to take advantage of the tax credit you can call me at (813) 317-4300.

Nonprofit adds home refinancing initiative

2009-03-10T22:05:00.004-04:00

WASHINGTON – March 10, 2009 – HOPE NOW, a nonprofit alliance of mortgage companies, housing counselors and others in the lending business, has added a new tool to its website enabling homeowners to initiate a loan modification or refinance with their lenders by submitting online application.

The new online intake form, at www.hopenow.com, asks homeowners for information about their lender and mortgage, as well questions about their income, debt, expenses and other things needed to proceed with a loan modification.

HOPE NOW said it launched the online tool in anticipation of the Obama administration’s $75 billion home rescue plan detailed last week. Lenders are expecting a large number of inquiries from homeowners seeking help in the coming months.

Once homeowners submit their application through the website, it is then routed directly to their mortgage servicing company or lender. Borrowers should get confirmation from their lender within a week that the process has begun, HOPE NOW said in a statement.

The nonprofit said that homeowners dealing directly with their mortgage company could receive help faster.

To make an online application, visit www.hopenow.com or call (888) 995-HOPE.

Courtesy of www.floridarealtors.org
Copyright © 2009 The Miami Herald, Monica Hatcher. Distributed by McClatchy-Tribune Information Services.

Land O' Lakes Developer Is Looking For A Lifeline

2009-03-03T01:15:00.002-05:00

DADE CITY - Summit View is 135 acres of dirt and weeds on the west side of Dade City. Zoned for more than 400 homes, it stalled years ago when Pasco County's housing market collapsed.

So imagine the surprise at city hall when the developers strolled in and told planning officials they were ready to move forward.

"They came into our office in December and said they wanted to resubmit the plat for approval," City Attorney Karla Owens said. "They said they're going to start building soon, and they think they can sell houses up there."

City commissioners approved the plat, but they likely will be waiting years before any new homes pop up on Happy Hill Road.

Getting the plat approved was a strategic move by developer Douglas Weiland to get a cash infusion for his beleaguered company, JES Properties. JES has a $19.4 million contract with Standard Pacific for Summit View.

"One of my contractual obligations was to get the plat approved," Weiland said. "Standard Pacific had a deadline to make a milestone payment in March."

During Pasco's real estate boom, the former spinal surgeon bought hundreds of acres of empty land, from Odessa to east Pasco, for development.

He borrowed heavily, planning to sell the land quickly to other builders. When the real estate bubble burst, though, and the banking industry collapsed behind it, Weiland found himself mired in debt with few options for getting out.

Weiland received a foreclosure notice Thursday for Ashley Glen, a 260-acre site at State Road 54 and the Suncoast Parkway where he planned to build a 1.8 million-square-foot office complex supporters see as a magnet for high-wage employers.

He has virtually abandoned a residential project south of Zephyrhills on U.S. 301 and another north of Plant City in Hillsborough County.

Now, Weiland is banking on contracts with homebuilder Standard Pacific and apartment builder Wood Properties to provide a lifeline for his company, despite the fact that residential developers have walked away from him before.

Read the rest of the story...

Courtesy of TBO.com

Crist pushes property tax breaks

2009-02-24T15:30:00.004-05:00

On February 20th, Gov. Charlie Crist proposed giving new property tax breaks to first-time homebuyers and further lightening the tax burden for business, landlords and snowbirds. The proposed property tax breaks for first-time homebuyers could be as much as $5,000.

Crist gave only broad overviews of his latest proposals as he introduced his new budget. The proposals are aimed at invigorating Florida's declining real estate market and helping businesses cope with the recession.

Proposals on the table:
• Limiting the amount that the taxable value of business property, rental housing and second homes can increase each year. Last year, Floridians voted for a constitutional amendment that, among other things, capped increases of taxable value on this type of property at 10 percent a year. Crist’s proposal would further limit the amount of an increase to 5 percent a year. The change would reduce tax revenue for local governments by an estimated $130 million the first year.

• Taxing only half the property value for first-time homebuyers, with a maximum exemption of $250,000 – or about $5,000 in taxes. The new break would be phased out during the first five years of ownership, though buyers would still be eligible for the homestead exemption available to all homeowners. Legislation needed for the constitutional amendment was filed by Sen. Evelyn Lynn, R-Daytona Beach, and Rep. Carl Domino, R-Juno Beach. The measure would reduce annual tax revenue by about $64 million.

• Ensuring that Florida homeowners do not get higher property tax bills in times when house values are declining. A constitutional amendment called Save Our Homes has for years limited growth in the assessed value of homes to 3 percent a year. As a result, many assessments are so far below market value that they are edging up even at a time when prices are dropping. Bills proposed by Sen. Mike Fasano, R-New Port Richey, and Rep. Marcelo Llorente, R-Miami, would pave the way for what Crist called the Homeowner Fairness Bill. The Governor’s Office estimated the measure would reduce tax revenue by $21 million the first year.

• Making it easier for owners to challenge tax assessments by requiring property appraisers to prove their work is valid. The burden of proof is now on owners to show that an appraisal is unfair. This measure, which does not require voter approval, would reduce tax revenue by an estimated $90 million starting in 2009.

State Farm Withdrawal Is Approved

2009-02-13T15:58:00.006-05:00

Florida Insurance Commissioner Kevin McCarty today announced an approval of State Farm Insurance Florida's withdrawal from the state, but subject to several major conditions:

• State Farm Florida shall surrender its Certificate of Authority within 30 days, which is needed to write or renew policies.
• State Farm shall not place any of its policies in Citizens Property Insurance Corp.
• State Farm shall allow its agents to place property insurance policies directly with other private insurance companies.
• State Farm shall issue pro-rata premium refunds to any policyholder seeking to voluntarily cancel or non-renew, and not short-rate the return premium for any policy in any line, including automobile, boat or property insurance.
• State Farm shall consider all offers to buy or assume all or part of its business.

Story courtesy of the Florida Association of Realtors

Which Loan Is Right For You? Part Three... FHA Loans

2009-02-11T10:28:00.002-05:00

The last option that I want to discuss is the FHA loan. This loan through the Federal Housing Administration has come a long way. This loan used to be very difficult to obtain with lots of paperwork and very strict repair standards. This is no longer the case. Now FHA loans can easily compete with conventional 30 year loans.

While it's not 100% financing, FHA loans only require a 3.5% down payment. The down payment can be a gift from a family member but cannot be contributed by anyone involved in the real estate transaction (i.e., the sellers, real estate agent, etc.) and cannot be required to be repaid by the individual applying for the loan.

The home must also pass an FHA appraisal which basically checks the value and livability of the home. The main items that must be present are flooring (there cannot be a bare concrete slab), heating in each room (yes, even in Florida), the roof must have at least two years of life remaining and there are limits to how close the septic and well can be. There are other items the appraiser will look at but these are the big ticket items. This inspection does not replace a typical home inspection!

There are many other options available through conventional financing but the three that I've covered in this series are some of the best for individuals having a hard time coming up the 20% down payment. If you think any of these may work for your situation, please talk to your lender or your real estate agent. If you're agent isn't familiar with these programs, you may want to consider another agent.

Which Loan Is Right For You? Part Two... VA Loans

2009-02-10T09:45:00.003-05:00

Part two of our series, "Which loan is right for you", covers the VA loan set up through the Veteran's Administration.

If you're a veteran with active duty service, who was not dishonorably discharged, you may want to consider a VA loan. Through the Veteran's Administration you can borrow 100% of the loan amount. The main limitation is quite obvious, you must be a veteran have a Certificate of Eligibility (COE). The COE can be requested by you or your lender. VA loans also require a VA appraisal which can also be ordered by your lender. While you can borrow 100% of the loan amount there is a loan limit. However, the limit is pretty reasonable and is generally $417,000. There is one catch, all veterans must pay a funding fee except those exempt due to receipt of disability compensation. The funding fee can range from 0.5% to 3.3% but this amount can be added into the loan.

Does this loan sound right for you? If so, speak to your lender and see if you qualify. But, before you start making calls, wait until tomorrow for the final of our three part series. You may find another loan that will work for you.

Which Loan Is Right For You? Part One... USDA - Rural Housing

2009-02-09T08:37:00.014-05:00

This is the first of a three part post on different loan options that are available.
The first loan is one that very few real estate agents even know about but that is becoming increasingly more popular. Through the USDA (yeah, that's right the guys that put the stamp on meats) there is a program set up called the Rural Housing Service. This federal program is aimed at helping develop rural areas and you might be surprised at what they consider "rural areas".

The program is available in Pasco and Hillsborough counties. The limitation is that the home must be in specific geographic areas, defined mainly by population. In Pasco County that includes areas east of the Suncoast Parkway (Land O' Lakes, Wesley Chapel, etc.) and in Hillsborough, areas beyond Brandon and outside Plant City (Riverview, Lithia, etc.). However, counties such as Pinellas have become too urbanized to get assistance from the program. The program is fairly easy to qualify for but are income limits and it can only be for a primary residence.

Be sure to check out tomorrow's blog for part two of this three part series.

The Pirates Are Coming!!!

2009-02-05T18:30:00.004-05:00

It's that time of year again... Gasparilla! February 7th Tampa will be invaded by pirates and the locals will be overcome by grog (alcohol for ye laymen).

If you've never been to Gasparilla, it's well worth spending a day drinking and screaming for beads. If you've never heard of Gasparilla, you need to plan a trip here next year around the beginning of February. You'll get to see a full size pirate ship sail into Tampa and bare witness to one heck of a party.

The invasion takes place between 11:30 a.m. - 1 p.m. with the Parade of Pirates taking over Bayshore from 2 p.m. until around 5:30 p.m.. The party will continue on long into the night.

Would you move to Land O' Lakes for $15 million?

2009-02-03T18:44:00.003-05:00

State officials have approved up to $15 million in incentives in an effort to persuade T. Rowe Price to move to Land O' Lakes. If the financal services giant takes the state up on their offer they would eventually move 1,560 full-time jobs to the 95-acre site just east of the Suncoast Parkway by 2012.

Currently, T. Rowe Price has 425 employees working out of leased facilities in Tampa. T. Rowe Price is looking to move to a new location when its lease on the Tampa location expires.

T. Rowe Price has not yet made a final decision on where it will locate but the Land O' Lakes location is one of five they are considering. The other locations are in Houston, Omaha, St. Louis and Tulsa.

New Home Sales Fall but...

2009-02-01T17:41:00.006-05:00

The Tampa Tribune wrote an article in Friday's paper titled "New Home Sales Fall To Record Low". In the Tampa Bay area we were down 14.7 percent in December. These numbers don't sound good but you have to look at the whole picture.

At the very end of the article it was mentioned that existing home sales jumped 16 percent. The only way we'll get the new home sales back up is by selling off the existing homes. Once we get the existing homes sold off there will be a need for new homes. We should be thrilled that existing home sales jumped 16 percent not focusing on the fact that new home sales are down.

Again, bad news leads and good news gets buried. We are selling homes, lenders are lending money and insurance companies are writing policies! If all you're hearing is bad news just remember there is ALWAYS another side of the story.

Tampa Area Inventory Heading In The Right Direction

2009-01-31T08:54:00.004-05:00

For the last year we've had an incredibly high number of homes on the market. Because of competition to get homes sold a high inventory volume tends to bring home values down.

February '08 was our highest inventory volume at 20,486 homes for sale in the Tampa area. Since February we've seen inventory volume decline slightly every month. However, Decmber marked a significant decrease with inventory dropping from just above 19,000 to 17,650.

Does this mean a change in the market? Not necessarily. There are a lot of factors that play a role in the real estate market. This does, however, mean that we are on the right track for recovery.

Fannie Mae & Countrywide Tackle Shortsales

2009-01-26T22:28:00.005-05:00

Fannie Mae is testing a new way to handle short sales. In this new pilot program Fannie Mae will test a new process by which Fannie Mae pre-approves the list price. Then if a buyer make a full price offer the lender will accept the offer as long as the transaction meets standard requirements. For the purposes of the pilot, Fannie Mae has validated a specific list of properties that have already met the following criteria:

The property must be secured by a Fannie Mae mortgage.
The mortgage must be serviced by Countrywide Home Loans.
The property must be a potential short-sale (i.e., the list price is less than the unpaid balance on the mortgage).

There are only about 400 homes in Orlando and Phoenix that have been selected for the pilot. That may be only a small handful of the "short sale" properties that we need to clear off the market but its a start. If this program works it could clear the path for other lenders to step up and do the same.

As it is, the typical time from offer to closing on a "short sale" property is four to six months. Most buyers don't or can't wait this long so they don't even consider "short sale" properties. These properties then just sit on the market and clog the system then eventually become bank owned (REO) properties and are priced below market value. Once sold, these properties make their mark on the value of the surrounding homes in the area. In order to preserve home prices we need to get these properties off the market as soon as possible and this program, if successful, could very well do that.

Where is your money safest?

2009-01-24T09:23:00.007-05:00

Every year Global Finance magazine releases it's list of the "World's Safest Banks". The banks are selected through a comparison of long-term credit ratings and total assets of the 300 largest banks around the world. Most of the top ten for 2008 you probably wouldn't recognize as they're from other countries but there is one that you will recognize, Wells Fargo. Wells Fargo is the only US bank to be listed in the top ten. Now with the recent Wells Fargo and Wachovia merger, customers have many more locations to bank.

Mortgage Rates No Longer At An All Time Low... But They're Close!

2009-01-23T16:16:00.005-05:00

Last week's mark of 4.96 percent for a 30-year fixed rate mortgage were the lowest since Freddie Mac started it's survey in April 1971. This week the rates are still very low but not that low. Thursday Freddie Mac reported that average rates on a 30-year fixd rate mortgage rose to 5.12 percent.

Does this mean the interest rates will continue to rise? No one really knows but we do know that rates won't stay this low forever. If you've been considering refinancing or purchasing a new home now is certainly the time.

Got Citizens Insurance? Can you afford to keep it?

2009-01-23T00:02:00.007-05:00

A task force is recommending that Citizens Property Insurance be allowed to end a three-year rate freeze and start aggressively hiking homeowner rates.

The task force recommended that the Legislature caps Citizens' annual rate increase to 10 percent on average statewide. They are urging that Citizens' begin raising rates in January 2010.

It seems a bit ironic that this news is coming now considering that I just read last week that the weather gurus are predicting an active hurricane season for 2009.

Florida's $2.6 billion budget deficit gets final approval

2009-01-22T22:59:00.002-05:00

Cuts totaling $1.2 billion most heavily hit education, health care and social services. Gov. Charlie Christ is expected to to sign the measure with just a few line-item vetoes.

While school districts were warned of the cuts months in advance, its still not going to be easy for them. Teachers in one district were asked to remove any personal appliances in order to save on electricity. These personal appliances include lamps on teachers desks. Apparently children may be the future but we don't money in the budget for the "future".

Lots of fun heading to Tampa Bay

2009-01-15T22:56:00.002-05:00

Tampa is always full of activities but this year has a bit more in store for us. With Super Bowl, Gasparilla, the State Fair and the Strawberry Festival coming there's no shortage of activities.

Super Bowl XLIII - February 1st
Most everyone is excited and anxious about this year's Super Bowl which is being held at our very own Raymond James Stadium. The Super Bowl may not be until Feb. 1st but the festivities officially kick off on January 24th with the NFL Experience. The NFL Experience run the 24-25th and 29-31st and only costs $18.50 (adults) and $12.50 (12 and under). On January 29th, the festivities move to Channelside for the blu Kick Off Event. Then on Saturday, January 31st make your way down to Progress Energy Park in St. Pete for the Third Annual DirectTV Celebrity Beach Bowl.

Gasparilla - February 7th 10am-11pm
Don't miss the invasion as pirates take over Tampa Bay. The pirates will sail into the bay at 11:30am. This is a site not to be missed with the invasion to follow (parade) and lots of celebrating afterward.

Florida State Fair - February 5-16th
With the fair following Super Bowl, the 105th Florida State Fair will carry the theme this year of Touchdown, Tampa Bay. Along with all the typical fair food and midway rides there will also be a Super Bowl themed show, Blitz, A Tribute to Halftime Shows, Live Shark Encounter show, Florida Ranch Rodeo and other new shows. You can purchase discount advance tickets at Sweetbay until February 4th for only $8 (Adults 12+) and $4 (Children 6-11).

Florida Strawberry Festival - February 26th-March 8th
Whether you're heading down to cheer on your favorite for the Strawberry Festival Queen, eat a little shortcake, watch some entertainment or just brave a few rides, the Strawberry Festival has a little something for everyone. This year's big headliner is country artist, Taylor Swift. But, the biggest decision to make is whether you like your strawberries with shortcake, sweet biscuit (my favorite) or just dipped in chocolate.