Category: New Tampa

September 12th, 2017 by chris@3cwebcontent.com

Before we jump into this week’s Tampa Market Monday, I want to say that I hope that you all are safe and came through Irma with minimal damage. It appears the storm could have been much worse on Tampa, but I know many of you still face hardships and days or weeks of clean up and repairs. Our thoughts and prayers are with you during this challenging time.

Now, let’s take a look at how the New Tampa real estate market performed in August of 2017.

Pricing Trends

New Tampa’s Median Sold Price jumped 7% to $304,900 in August of 2017. In August of 2016, the median price stood at $284,900. The Numbers of Homes Sold in August 2017 bested last August sales by 10%, as 109 homes sold compared to 99 in August 2016. The Number of Homes for Sale dropped 20%, as 97 fewer homes (386 vs. 483) were available compared to August of 2016. The Number of New Properties ticked up 1% as 100 new homes came on the market in August 2017.  In August 2016, 99 new properties were listed for sale.

(MEDIAN SOLD PRICE – Median means “in the middle,” meaning that half of the homes sold above the Median Sold Price and half sold below it. For example, if 5 homes sold in a zip code for $200,000, $250,000, $300,000, $400,000 and $800,000, the Median Price would be the one in the middle. In this case, that would be the $300,000 home. In contrast, average selling price would just be the sum of the selling prices of the 5 homes divided by 5, or $330,000. Many real estate statisticians prefer median price as a better indicator of the “typical” price within an area or zip code. Why? It is not affected by “outliers” or homes sold at an extremely high or low price, like the $800,000 home in our example.)

See charts below for a detailed breakdown of the data during the last 12 months:

Months of Supply, which measures housing inventory plunged 45% — from 5.2 months (July 2016) to 2.8 months (August 2017). The Average Number of Days a home stayed on the market also fell — from an average of 68 days in August 2016 to 54 days this August.

(Want a customized evaluation of your home and neighborhood, based on comparable homes that have sold recently? Call Annette Bohannon at 813-431-2840 and get a FREE detailed, market evaluation of your home.)

Now let’s look at some of the most informative blog posts, articles and infographics we’ve read this week. Enjoy!

Tampa:

2017 HURRICANE PREPAREDNESS GUIDE

Get the information you need to navigate the aftermath of Irma. Articles range from where you can get food over the next few days to how waste pick up will be handled.Read More

From the Blog:

Housing Inventory Hits 30-Year Low

Hey, Millennial Homeowners!! It May Be Time to Sell

Over the next five years, home prices are expected to appreciate 3.64% per year on average and to grow by 18.4% cumulatively, according to Pulsenomics’ most recent Home Price Expectation Survey.

So, what does this mean for homeowners and their equity position?

As an example, let’s assume a young couple purchased and closed on a $250,000 home in January. If we look at only the projected increase in the price of that home, how much equity will they earn over the next 5 years?

Read More

Buyers:

Tips for Saving Up for a Down Payment

About 60 percent of home buyers put 6 percent or less down on their home purchase, according to data from the National Association of REALTORS®. Considering the median existing-home price is $258,300, a 6 percent down payment would be $15,498.

Some aspiring buyers may be unsure of how to come up with that amount. But there are plenty of seemingly simple things they can do to start saving. NAR offers the following infographic.

View Infographic

Search Tampa Homes for Sale

Sellers

7 Pricing Myths to Stop Believing If You Ever Hope to Sell Your House

Pricing your own home is hard, what with all the history and hopes this magic number entails. Of course, you want to make a profit. Of course, all that money you spent installing a swimming pool or a half-bath will be recouped, because you’re leaving your digs in better shape than when you bought it, right? Right?

Well, not necessarily. Too many home sellers fall prey to myths about home pricing that seem to make sense at first, but don’t jibe with the reality of real estate markets today. To make sure you haven’t bought into any of this malarkey—since the buyers you’re trying to woo sure haven’t—here are some common pricing myths you’ll want to rinse from your brain so you kick off your home-selling venture with realistic expectations. It’s time to get real, folks!

Read More

Home Loans

30-Year Mortgage Rate Hits Another 2017 Low

Thanks for reading Tampa Market Monday. If you want help buying or selling your home, please get in touch. We have sold over 4,600 homes in the Tampa area and our mission is “to elevate the practice of real estate to an art form — and to deliver a real estate experience that is re-imagined and extraordinary!

You can reach me, Doug Bohannon or Dale Bohannon at 813-979-4963 or by completing this contact form.

Have a Fantastic week!

Annette Bohannon,
Team Bohannon, Keller Williams, 813-431-2840
www.teambohannon.com

 

Search for Tampa Homes By Neighborhood

Tampa

Tampa, a beautiful, modern city located on the Gulf Coast of Florida, is bordered by Old Tampa Bay and Hillsborough Bay, which come together to makeup Tampa Bay. It offers…
View 3546 homes

Apollo Beach

Apollo Beach is a vibrant waterfront community, located in Hillsborough County in Tampa, FL. It features over 50 miles of interconnected canals that lead to Tampa Bay and the Gulf…
View 325 homes

Land O Lakes

Land O’ Lakes, located in Pasco County, is north of downtown Tampa. It’s also part of the Tampa-St. Petersburg-Clearwater, Florida MSA. The population of the area is a little over…
View 468 homes

Lithia/Fishhawk

FishHawk, Hillsborough County’s first “green community”, is made up of a variety of smaller communities located in Lithia, Florida. They including Starling at FishHawk, The Preserve, FishHawk Ranch and FishHawk…
View 215 homes

Lutz

Lutz, which began as a small train depot on the Tampa North Railroad, now has about 20,000 residents. It was named for W. P. Lutz, who brought the railroad to…
View 424 homes

New Tampa

New Tampa, Tampa Bay’s fastest growing community is located in the northern side of Tampa. New Tampa, well-known for its master-planned communities, features upscale residences surrounded by lakes, lush green…
View 361 homes

Carrollwood Area

The Carrollwood area, about 7 miles northwest of Tampa includes two distinct communities — Carrollwood and Carrollwood Village. Both are located in Hillsborough County. Together, they have a population of…
View 266 homes

Odessa

Odessa, located in Pasco County started as a community of open spaces that residents used for ranches and horse farms. But in more recent years, it has grown considerably due…
View 271 homes

Brandon

Brandon is an appealing suburb, east of downtown Tampa, Florida. It offers residents a quieter, family-oriented lifestyle just outside of Tampa’s city center. Over 100,000 people call it home and…
View 311 homes

Riverview

Riverview, Florida, located in Hillsborough County near Tampa has nearly 80,000 residents. The community saw its population increase close to 500 percent from 2000 to 2010 as new development occurred…
View 703 homes

South Tampa

South Tampa, located on the Interbay Peninsula, includes areas of Tampa south of Kennedy Boulevard. Many of Tampa’s most unique and in-demand neighborhoods, Beach Park, Ballast Point, Bayshore Beautiful, Bayshore…
View 1055 homes

Ruskin

Ruskin, located in Hillsborough County, Florida, near Tampa’s South shore has blossomed since the early 2000’s. It’s population, which doubled from 2000 to 2010 now tops 17,000 residents. Background The…
View 297 homes

Valrico

Valrico, located east of Tampa, is home to more than 35,000 residents. The population has expanded over 400% since 2000, when only 6,500 residents lived there. The median house or…
View 263 homes

 

Wesley Chapel

Wesley Chapel, in Pasco County, has been one of Tampa Bay’s fastest growing communities during the past 10 years. Currently, there are over 45,000 residents, 16,000 households and 12,000 families…
View 502 homes

Westchase

Westchase, founded in 1991, is a luxurious planned community located between Tampa and Clearwaterin Hillsborough County. It has around 22,000 residents and is one of the most affluent subdivisions the…
View 154 homes

Luxury Homes

Are you seeking a one-of-a-kind luxury home? You’ll discover many remarkable million-dollar-plus properties in the Tampa area. Whether you prefer living on the water with spectacular views, a Championship golf…
View 3772 homes

Golf Course Communities

If you love golf, you’ll love the Tampa Bay area’s challenging and picturesque golf courses set in vibrant and beautiful communities on the Gulf Coast. You can enjoy a daily…
View 6222 homes

Waterfront Properties

Living on the waterfront means a variety of things to different people. Some love the all-the-time access to sunshine, the beach and the ocean. For other it’s about a peaceful…
View 13625 homes

Posted in New Tampa, Tampa Market Monday

August 14th, 2017 by chris@3cwebcontent.com

Happy Monday!

In this week’s Tampa Market Monday, let’s take a look at how the New Tampa real estate market performed in July of 2017.

Pricing Trends

New Tampa’s Median Sold Price jumped a whooping 19.4% to $286,500 compared to July of 2016. On average, seller’s received 95.7% of their original List Price, which was the exact same ratio as July of 2016. The Average Price Per Square Foot climbed to $121 or 10% more than last July.

(MEDIAN SOLD PRICE – Median means “in the middle,” meaning that half of the homes sold above the Median Sold Price and half sold below it. For example, if 5 homes sold in a zip code for $200,000, $250,000, $300,000, $400,000 and $800,000, the Median Price would be the one in the middle. In this case, that would be the $300,000 home. In contrast, average selling price would just be the sum of the selling prices of the 5 homes divided by 5, or $330,000. Many real estate statisticians prefer median price as a better indicator of the “typical” price within an area or zip code. Why? It is not affected by “outliers” or homes sold at an extremely high or low price, like the $800,000 home in our example.)

Number of Properties Sold, For Sale, and New to the Market

The Numbers of Homes Sold in July of 2017 beat last July’s numbers, as 98 homes sold compared to 93 in July of 2016. That’s an increase of 5%. The Number of Homes for Sale fell 7%, as 34 fewer homes were for sale than in July of 2016. The Number of New Properties rose a robust 29% as 143 new homes came on the market in July 2017 versus 111 in July a year ago.

 

Months of Supply, which measures housing inventory, plunged 55% — from 5.2 months (July 2016) to 2.3 months (July 2017). The Average Number of Days a home stayed on the market also plummeted — from an average of 73 days in July of 2016 to 47 days this July.

Bottom Line

Many new properties came into the market during July, but demand continues to outstrip supply which is sending prices up and keeping housing inventory down. I anticipate another strong month in August as those who want to sell for top dollar take advantage of high buyer demand.

(Want a customized evaluation of your home and neighborhood, based on comparable homes that have sold recently? Call Annette Bohannon at 813-431-2840 and get a FREE detailed, market evaluation of your home.)

Now let’s look at some of the most informative blog posts, articles and infographics we’ve read this week. Enjoy!

 

Tampa:

Eight Tampa Bay hospitals make U.S. News & World Report’s best hospital list

Tampa General Hospital moved up the ranks of best hospitals in a new report from U.S. News & World Report.

Tampa General, one of eight Tampa Bay area hospitals to get a “best” designation, is No. 2 in Florida, according to the publication’s 2017-18 rankings published Tuesday morning. The hospital, the largest in the Tampa Bay area, was No. 3 in the state a year ago.

Read More

From the Blog:

Housing Inventory Hits 30-Year Low

New data from CoreLogic shows that even though buyers came out in force, as predicted, homeowners did not make the jump to list their home in the second quarter of this year. Frank Nothaft, Chief Economist for CoreLogic had this to say,

“The growth in sales is slowing down, and this is not due to lack of affordability, but rather a lack of inventory. As of Q2 2017, the unsold inventory as a share of all households is 1.9 percent, which is the lowest Q2 reading in over 30 years.”

CoreLogic’s President & CEO, Frank Martell added,

“Home prices are marching ever higher, up almost 50 percent since the trough in March 2011.

While low mortgage rates are keeping the market affordable from a monthly payment perspective, affordability will likely become a much bigger challenge in the years ahead until the industry resolves the housing supply challenge.”Overall inventory across the United States is down for the 25th consecutive month according to the latest report from the National Association of Realtors and now stands at a 4.3-month supply.

Read More

Hey, Millennial Homeowners!! It May Be Time to Sell

Contrary to what many believe, Millennials are not the ‘renter’ generation. Millennials purchased a larger percentage (34%) of homes in the U.S. than any other age group in 2017 and the most recent Census Bureau report shows that the homeownership rate among Millennials is finally on the rise.

Many Millennials took advantage of post housing crash prices and the First-Time Homebuyers’ Tax Credit and jumped into homeownership in 2010. If you are one of these buyers, now may be the time to sell for many reasons. Here are a few:

Read More

Buyers:

The Most Popular Interior Design Styles in Each State

When you think of what’s hot in interior design right now, do your dad’s wingback chairs and grandma’s ornate chandeliers come to mind? Well, maybe they should. A new study by Joybird, a custom furniture company, revealed that Victorian is the interior design style that wins the popularity vote in more U.S. states than any other decor style.

But hold off on a full “Age of Innocence” home makeover. Crown molding and floral wallpaper might reign supreme in 10 states, but that doesn’t mean stuffy Victorian style is on the rise across the country. In fact, trendsetting states such as California and New York actually preferred transitional and contemporary styles, respectively.

Read More

Search Tampa Homes for Sale

Sellers

5 Things Sellers Should Never, Ever Say When Closing a Home Sale

Selling your home, as we all know, is a process: months of hard work alongside your listing agent to primp your place, market the property, and reel in a buyer. So by the time the big day arrives to close the deal and hand over the keys, you’re probably so ready to be done—which is all the more reason to tread carefully during this final step of the process.

“You don’t want to say something that’s going to upset or surprise the home buyer,” says Judy Weiniger, broker associate and CEO at Weiniger Group in Warren, NJ.

Read More

Home Loans

Mortgage Rates Inch Lower

After holding relatively flat last week, the 10-year Treasury yield fell 4 basis points this week. The 30-year mortgage rate moved in tandem with Treasury yields, dropping 3 basis points to 3.90 percent. Earlier this week, Federal Reserve officials highlighted the influence of continued weak inflation data on rates.

  • 30-year fixed-rate mortgage (FRM) averaged 3.90 percent with an average 0.5 point for the week ending August 10, 2017, down from last week when it averaged 3.93 percent. A year ago at this time, the 30-year FRM averaged 3.45 percent.
  • 15-year FRM this week averaged 3.18 percent with an average 0.5 point, the same as last week. A year ago at this time, the 15-year FRM averaged 2.76 percent.
  • 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.14 percent this week with an average 0.5 point, down from last week when it averaged 3.15 percent. A year ago at this time, the 5-year ARM averaged 2.74 percent.

Average commitment rates should be reported along with average fees and points to reflect the total upfront cost of obtaining the mortgage. Visit the following link for the Definitions. Borrowers may still pay closing costs which are not included in the survey.

PMMS Chart

Thanks for reading Tampa Market Monday. If you want help buying or selling your home, please get in touch. We have sold over 4,600 homes in the Tampa area and our mission is “to elevate the practice of real estate to an art form — and to deliver a real estate experience that is re-imagined and extraordinary!

You can reach me, Doug Bohannon or Dale Bohannon at 813-979-4963 or by completing this contact form.

Have a Fantastic week!

Annette Bohannon,
Team Bohannon, Keller Williams, 813-431-2840
www.teambohannon.com

 

Search for Tampa Homes By Neighborhood

Tampa

Tampa, a beautiful, modern city located on the Gulf Coast of Florida, is bordered by Old Tampa Bay and Hillsborough Bay, which come together to makeup Tampa Bay. It offers…
View 3546 homes

Apollo Beach

Apollo Beach is a vibrant waterfront community, located in Hillsborough County in Tampa, FL. It features over 50 miles of interconnected canals that lead to Tampa Bay and the Gulf…
View 325 homes

Land O Lakes

Land O’ Lakes, located in Pasco County, is north of downtown Tampa. It’s also part of the Tampa-St. Petersburg-Clearwater, Florida MSA. The population of the area is a little over…
View 468 homes

Lithia/Fishhawk

FishHawk, Hillsborough County’s first “green community”, is made up of a variety of smaller communities located in Lithia, Florida. They including Starling at FishHawk, The Preserve, FishHawk Ranch and FishHawk…
View 215 homes

Lutz

Lutz, which began as a small train depot on the Tampa North Railroad, now has about 20,000 residents. It was named for W. P. Lutz, who brought the railroad to…
View 424 homes

New Tampa

New Tampa, Tampa Bay’s fastest growing community is located in the northern side of Tampa. New Tampa, well-known for its master-planned communities, features upscale residences surrounded by lakes, lush green…
View 361 homes

Carrollwood Area

The Carrollwood area, about 7 miles northwest of Tampa includes two distinct communities — Carrollwood and Carrollwood Village. Both are located in Hillsborough County. Together, they have a population of…
View 266 homes

Odessa

Odessa, located in Pasco County started as a community of open spaces that residents used for ranches and horse farms. But in more recent years, it has grown considerably due…
View 271 homes

Brandon

Brandon is an appealing suburb, east of downtown Tampa, Florida. It offers residents a quieter, family-oriented lifestyle just outside of Tampa’s city center. Over 100,000 people call it home and…
View 311 homes

Riverview

Riverview, Florida, located in Hillsborough County near Tampa has nearly 80,000 residents. The community saw its population increase close to 500 percent from 2000 to 2010 as new development occurred…
View 703 homes

South Tampa

South Tampa, located on the Interbay Peninsula, includes areas of Tampa south of Kennedy Boulevard. Many of Tampa’s most unique and in-demand neighborhoods, Beach Park, Ballast Point, Bayshore Beautiful, Bayshore…
View 1055 homes

Ruskin

Ruskin, located in Hillsborough County, Florida, near Tampa’s South shore has blossomed since the early 2000’s. It’s population, which doubled from 2000 to 2010 now tops 17,000 residents. Background The…
View 297 homes

Valrico

Valrico, located east of Tampa, is home to more than 35,000 residents. The population has expanded over 400% since 2000, when only 6,500 residents lived there. The median house or…
View 263 homes

 

Wesley Chapel

Wesley Chapel, in Pasco County, has been one of Tampa Bay’s fastest growing communities during the past 10 years. Currently, there are over 45,000 residents, 16,000 households and 12,000 families…
View 502 homes

Westchase

Westchase, founded in 1991, is a luxurious planned community located between Tampa and Clearwaterin Hillsborough County. It has around 22,000 residents and is one of the most affluent subdivisions the…
View 154 homes

Luxury Homes

Are you seeking a one-of-a-kind luxury home? You’ll discover many remarkable million-dollar-plus properties in the Tampa area. Whether you prefer living on the water with spectacular views, a Championship golf…
View 3772 homes

Golf Course Communities

If you love golf, you’ll love the Tampa Bay area’s challenging and picturesque golf courses set in vibrant and beautiful communities on the Gulf Coast. You can enjoy a daily…
View 6222 homes

Waterfront Properties

Living on the waterfront means a variety of things to different people. Some love the all-the-time access to sunshine, the beach and the ocean. For other it’s about a peaceful…
View 13625 homes

Posted in New Tampa, Tampa Market Monday

July 11th, 2017 by Annette Bohannon

Happy Monday!

In this week’s Market Monday, let’s review how New Tampa (33647) real estate performed in June of 2017.

The Numbers of Homes Sold fell 2%, as 109 homes changed hands. That was two less than sold in June of 2016. But prices rose 6%, as the Median Sold Price* stood at $307,000 compared to $290,000 in June a year ago. The Number of Homes for Sale dropped by 8%, as 35 fewer homes were on the market compared to June of 2016. The Number of New Properties ticked up 2% or 3 more units than during the same time last year.

Months of Supply, which measures housing inventory, dropped 31% — from 3.7 months (June 2016) to 2.5 months (June 2017).  The Average Number of Days a home stayed on the market plunged 27%, as homes sold 19 days faster, on average than in June of 2016.

For a visual breakdown of the trends over the past 12 months, see the charts below.

(MEDIAN SOLD PRICE – Median means “in the middle,” meaning that half of the homes sold above the Median Sold Price and half sold below it. For example, if 5 homes sold in a zip code for $200,000, $250,000, $300,000, $400,000 and $800,000, the Median Price would be the one in the middle. In this case, that would be the $300,000 home.In contrast, the average selling price would just be the sum of the selling prices of the 5 homes divided by 5, or $330,000. Many real estate statisticians prefer median price as a better indicator of the “typical” price within an area or zip code. Why? It is not affected by “outliers” or homes sold at an extremely high or low price, like the $800,000 home in our example.)

Bottom Line

In June, fewer New Tampa homes sold, but the ones that did sell, sold at a higher price than in June of 2016. But the big story continues to be the lack of housing inventory. New Tampa is seeing homes sell in less than 2 months, on average. Plus, there are just 2.5 months of supply of homes for sale. Supply and demand suggest that prices will stay strong due to the dwindling inventory of homes for sale. This trend should keep sellers and those who want to sell happy through the rest of the summer.

(Want a customized evaluation of your home and neighborhood, based on comparable homes that have sold recently? Call Annette Bohannon at 813-431-2840 and get a FREE detailed, market evaluation of your home or you can get a Free Market Report by following this link.)

Now let’s look at some of the most informative blog posts, articles and infographics we’ve read this week. Enjoy!

Tampa:

Here’s which restaurant won the bid to open in Curtis Hixon Waterfront Park in downtown Tampa (Renderings)

An iconic Irish pub has won the bid to place a restaurant in a city-owned space in downtown Tampa’s Curtis Hixon Waterfront Park.

Four Green Fields will begin construction on the $680,000 buildout of the 2,568-square-foot space in mid-August, a process that’s expected to take 16 weeks, the city said Tuesday. It will include a raw bar and offer inside and outside seating.

Read More  

From the Blog:

Median Days on the Market Drops to 27!

Read More

Your Opportunity to Achieve the American Dream Keeps Getting Better!

Forbes.com recently released the latest results of their American Dream Index, in which they measure “the prosperity of the middle class, and…examine which states best support the American Dream.”

The monthly index measures several different economic factors, including goods-producing employment, personal and commercial bankruptcies, building permits, startup activity, unemployment insurance claims, labor force participation, and layoffs.

The national index score was rounded out to 100.0 in January as a baseline for comparison and it rose the fourth straight month in a row to 101.8.

Read More

Buyers:

Two major lending changes mean it’s suddenly easier to get a mortgage

 

  • The nation’s three major credit rating agencies, EquifaxTransUnion and Experian, will drop tax liens and civil judgments from some consumers’ profiles if the information isn’t complete.
  • Mortgage giants Fannie Mae and Freddie Mac are allowing borrowers to have higher levels of debt and still qualify for a home loan.
  • These changes come at a time when lenders are competing for a shrinking market of borrowers.

Read More

6 Surprising Reasons to Go to an Open House—Even If You’re Not Buying

Perusing online real estate listings can be nothing less than addictive. We’ve all spent time scouring the internet, ogling homes for sale that we don’t intend—or can’t afford—to buy. Because it’s fun!

But would you ever hop in the car and go look at a house in person, even if you’re not at all ready to make an offer?

Before you dismiss the idea, consider what you stand to gain by turning house hunting into an extracurricular activity.

Read More

Search Tampa Homes for Sale

 Sellers

Staging secrets that will help your home sell for more $$$

Home staging, the fine art of making your residence attractive to potential buyers, can increase its sale price by 7 percent and help it sell an average of 100 days sooner. Expert Geoffrey Walsky, who works with Ryan Serhant of “Million Dollar Listing New York,” works his magic on a New York apartment and offers tips.

Watch Video

Mortgage Rates

Mortgage Rates Jump

Global interest rates turned up sharply over the last week. The 10-year Treasury yield was no exception, increasing 10 basis points in a holiday-shortened week. The 30-year mortgage rate followed suit, rising 8 basis points to 3.96 percent.

  • 30-year fixed-rate mortgage (FRM) averaged 3.96 percent with an average 0.6 point for the week ending July 6, 2017, up from last week when it averaged 3.88 percent. A year ago at this time, the 30-year FRM averaged 3.41 percent.
  • 15-year FRM this week averaged 3.22 percent with an average 0.5 point, up from last week when it averaged 3.17 percent. A year ago at this time, the 15-year FRM averaged 2.74 percent.
  • 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.21 percent this week with an average 0.5 point, up from last week when it averaged 3.17 percent. A year ago at this time, the 5-year ARM averaged 2.68 percent.

Average commitment rates should be reported along with average fees and points to reflect the total upfront cost of obtaining the mortgage. Visit the following link for the Definitions. Borrowers may still pay closing costs which are not included in the survey.

PMMS Chart

Thanks for reading Tampa Market Monday. If you want help buying or selling your home, please get in touch. We have sold over 4,600 homes in the Tampa area and our mission is “to elevate the practice of real estate to an art form — and to deliver a real estate experience that is re-imagined and extraordinary!

You can reach me, Doug Bohannon or Dale Bohannon at 813-979-4963 or by completing this contact form.

Have a Fantastic week!

Annette Bohannon,
Team Bohannon, Keller Williams, 813-431-2840
www.teambohannon.com

 

Search for Tampa Homes By Neighborhood

Tampa

Tampa, a beautiful, modern city located on the Gulf Coast of Florida, is bordered by Old Tampa Bay and Hillsborough Bay, which come together to makeup Tampa Bay. It offers…
View 3546 homes

Apollo Beach

Apollo Beach is a vibrant waterfront community, located in Hillsborough County in Tampa, FL. It features over 50 miles of interconnected canals that lead to Tampa Bay and the Gulf…
View 325 homes

Land O Lakes

Land O’ Lakes, located in Pasco County, is north of downtown Tampa. It’s also part of the Tampa-St. Petersburg-Clearwater, Florida MSA. The population of the area is a little over…
View 468 homes

Lithia/Fishhawk

FishHawk, Hillsborough County’s first “green community”, is made up of a variety of smaller communities located in Lithia, Florida. They including Starling at FishHawk, The Preserve, FishHawk Ranch and FishHawk…
View 215 homes

Lutz

Lutz, which began as a small train depot on the Tampa North Railroad, now has about 20,000 residents. It was named for W. P. Lutz, who brought the railroad to…
View 424 homes

New Tampa

New Tampa, Tampa Bay’s fastest growing community is located in the northern side of Tampa. New Tampa, well-known for its master-planned communities, features upscale residences surrounded by lakes, lush green…
View 361 homes

Carrollwood Area

The Carrollwood area, about 7 miles northwest of Tampa includes two distinct communities — Carrollwood and Carrollwood Village. Both are located in Hillsborough County. Together, they have a population of…
View 266 homes

Odessa

Odessa, located in Pasco County started as a community of open spaces that residents used for ranches and horse farms. But in more recent years, it has grown considerably due…
View 271 homes

Brandon

Brandon is an appealing suburb, east of downtown Tampa, Florida. It offers residents a quieter, family-oriented lifestyle just outside of Tampa’s city center. Over 100,000 people call it home and…
View 311 homes

Riverview

Riverview, Florida, located in Hillsborough County near Tampa has nearly 80,000 residents. The community saw its population increase close to 500 percent from 2000 to 2010 as new development occurred…
View 703 homes

South Tampa

South Tampa, located on the Interbay Peninsula, includes areas of Tampa south of Kennedy Boulevard. Many of Tampa’s most unique and in-demand neighborhoods, Beach Park, Ballast Point, Bayshore Beautiful, Bayshore…
View 1055 homes

Ruskin

Ruskin, located in Hillsborough County, Florida, near Tampa’s South shore has blossomed since the early 2000’s. It’s population, which doubled from 2000 to 2010 now tops 17,000 residents. Background The…
View 297 homes

Valrico

Valrico, located east of Tampa, is home to more than 35,000 residents. The population has expanded over 400% since 2000, when only 6,500 residents lived there. The median house or…
View 263 homes

 

Wesley Chapel

Wesley Chapel, in Pasco County, has been one of Tampa Bay’s fastest growing communities during the past 10 years. Currently, there are over 45,000 residents, 16,000 households and 12,000 families…
View 502 homes

Westchase

Westchase, founded in 1991, is a luxurious planned community located between Tampa and Clearwaterin Hillsborough County. It has around 22,000 residents and is one of the most affluent subdivisions the…
View 154 homes

Luxury Homes

Are you seeking a one-of-a-kind luxury home? You’ll discover many remarkable million-dollar-plus properties in the Tampa area. Whether you prefer living on the water with spectacular views, a Championship golf…
View 3772 homes

Golf Course Communities

If you love golf, you’ll love the Tampa Bay area’s challenging and picturesque golf courses set in vibrant and beautiful communities on the Gulf Coast. You can enjoy a daily…
View 6222 homes

Waterfront Properties

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Posted in New Tampa, Tampa Market Monday

May 8th, 2017 by Annette Bohannon

Happy Monday!

In this week’s Market Monday we will look at how New Tampa (33647) real estate performed in April of 2017.

Median Sold Price* held steady compared to April 2016. The Numbers of Homes Sold jumped 21%. as 98 home sold, 17 more than in April of 2016. The Number of Homes for Sale fell 2% or 9 fewer home for sale. Months of Supply, which measures housing inventory, plummeted 30% — from 3.0 months (April 2016) to 2.1 months (April 2017).  This is a strong signal that the sellers currently have the upper hand. The Average Number of Days a home stayed on the market before selling declined 9% or 5 days compared to April of 2016.

For a visual breakdown of the trends over the past 12 months, see the charts below.

(MEDIAN SOLD PRICE – Median means “in the middle,” meaning that half of the homes sold above the Median Sold Price and half sold below it. For example, if 5 homes sold in a zip code for $200,000, $250,000, $300,000, $400,000 and $800,000, the Median Price would be the one in the middle. In this case, that would be the $300,000 home.In contrast, average selling price would just be the sum of the selling prices of the 5 homes divided by 5, or $330,000. Many real estate statisticians prefer median price as a better indicator of the “typical” price within an area or zip code. Why? It is not affected by “outliers” or homes sold at an extremely high or low price, like the $800,000 home in our example.)

cmm_report_mediansoldprice_chart

cmm_report_unitssold_chart

cmm_report_unitsforsale_chart

cmm_report_averagedom_chart

cmm_report_msi_chart

Bottom Line

As housing season heats up, buyers face a very competitive market, while sellers enjoy tons of opportunity. The lack of inventory means many sellers stand to gain higher prices and faster sales. But there is a silver lining for buyers — mortgage rates continue to stay low which gives them increased buying power.

(Want a customized evaluation of your home and neighborhood, based on comparable homes that have sold recently? Call Annette Bohannon at 813-431-2840 and get a FREE detailed, market evaluation of your home or you can get a Free Market Report by following this link.)

Now let’s look at some of the most informative blog posts, articles and infographics we’ve read this week. Enjoy!

From the Blog:

cost-of-waiting-buy-house

Read More

 

Don’t Let Your Luck Run Out

When it comes to buying a home, whether it is your first time or your fifth, it is always important to know all the facts. With the large number of mortgage programs available that allow buyers to purchase a home with a down payment below 20%, you can never have too much information about Private Mortgage Insurance (PMI).

What is PMI?

Read Blog Post

Financial Planning: 4 Reasons to Buy a House Today

Homeownership will always be a part of the American Dream. There are advantages to owning your own home (educational, health, social) that far transcend any economic impact. However, we want to look at several of the financial advantages of homeownership in today’s post.

Read More

Advice for Buyers:

Preaching Patience: What’s the Best Time of Year for Home Buyers?

 

Certainly, if you’re a buyer interested only in finding the most homes listed for sale, spring is the time to shop and make an offer. More new listings hit the market nationwide in April of last year than in any other month, and in almost every large housing market last year, buyers were offered the most new selection in April, May or June. This springtime pattern is even more extreme in markets with harsher winters: In Chicago and Minneapolis, for example, almost twice as many homes are listed in May and June as in December and January.  More temperate markets, like Miami and Tampa, have barely any noticeable seasonal pattern at all.

Read More

More homebuyers hit the streets while mortgage rates fall

As spring homebuying season revs up, mortgage rates are drifting down. Nice timing!

This week, a slight decline in mortgage rates has been accompanied by an increase in people applying for loans to buy homes. Purchase applications are up 5 percent, compared to the same week a year ago, according to the Mortgage Bankers Association. Feel like jumping on the bandwagon?

Read More

Search Tampa Homes for Sale

Advice for Sellers

6 Home Appraisal Myths You Need to Stop Believing Immediately

Putting your home up for sale can be an emotional endeavor. After you come to terms with saying goodbye to a place where you created countless memories, some stranger with a clipboard comes along and puts a value on what’s priceless to you.

And that assessment has the power to tank the entire sale.

Yes, the appraisal is one of the scariest parts of the home-selling process—and one of the most confusing. After all, why is somebody valuing your home after you’ve already determined a listing price and received an offer? Plus, you’re never sure if the appraiser is truly factoring in those countless weekends you spent on backbreaking home upgrades—the Jacuzzi tub, the bidet, and the trendy shiplap walls have to count for something, right?

Not necessarily.

Think of the appraisal as a tool for removing emotion from the equation between the two sides who desperately want to make a sale, And understand that it’s completely natural to be a bit confused about just what, exactly, helps add value to your home in the appraiser’s eyes. But we’re here to clear it up for you.

So take note of these common myths surrounding the elusive home appraisal.

Read More

Home Loans

Mortgage Rates Hold Steady

The 10-year Treasury yield remained relatively flat this week, as did the 30-year mortgage rate which fell 1 basis point to 4.02 percent. Markets have been erring on the side of caution following a weak advance estimate for first-quarter GDP and the FOMC’s broadly expected decision to leave rates unchanged.

  • 30-year fixed-rate mortgage (FRM) averaged 4.02 percent with an average 0.5 point for the week ending May 4, 2017, down from last week when it averaged 4.03 percent. A year ago at this time, the 30-year FRM averaged 3.61 percent.
  • 15-year FRM this week averaged 3.27 percent with an average 0.5 point, the same as last week. A year ago at this time, the 15-year FRM averaged 2.86 percent.
  • 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.13 percent this week with an average 0.5 point, up from last week when it averaged 3.12 percent. A year ago, the 5-year ARM averaged 2.80 percent.

Average commitment rates should be reported along with average fees and points to reflect the total upfront cost of obtaining the mortgage. Visit the following link for the Definitions. Borrowers may still pay closing costs which are not included in the survey.

PMMS Graph
Click to enlarge

Read More

 

Thanks for reading Tampa Market Monday. If you want help buying or selling your home, please get in touch. We have sold over 4,600 homes in the Tampa area and our mission is “to elevate the practice of real estate to an art form — and to deliver a real estate experience that is re-imagined and extraordinary!

You can reach me, Doug Bohannon or Dale Bohannon at 813-979-4963 or by completing this contact form.

Have a Fantastic week!

Annette Bohannon,
Team Bohannon, Keller Williams, 813-431-2840
www.teambohannon.com

 

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Posted in New Tampa, Tampa Market Monday

April 25th, 2016 by Annette Bohannon

Provided By Annette Bohannon, Team Bohannon Real Estate Consultants, Keller Williams Tampa Properties

Happy Monday from Annette Bohannon!

Today, we’re going to review March home sales for two of Tampa’s most popular communities — New Tampa (33647) and Wesley Chapel (33544).

New Tampa

 

 

Wesley Chapel 

 

LMI-ZIP-33544-201603-page-0

 

(Want a customized evaluation of your home and neighborhood, based on comparable homes that have sold recently? Call Annette Bohannon at 813-431-2840 and get a FREE detailed, market evaluation of your home or you can get a Free Market Report by following this link.

Now let’s take a quick look at some of the more interesting and helpful blog posts and articles about buying and selling a home, mortgage rates, and goings on in and around Tampa.

From the Blog:

If You Are Thinking of Selling, Now Is The Time

Jonathan Smoke, the Chief Economist of realtor.com, in a recent article revealed that:

“Would-be buyers face a dilemma: There will be more homes on the market over each week of the next three to four months, but there will also be even more prospective buyers. We are entering the busiest season of home buying with the lowest amount of inventory in three years. To be competitive, buyers should get pre-approved for a mortgage and be ready to act quickly if they find a home that meets their needs.”

Read more. 

Buying a Home is 36% Less Expensive Than Renting Nationwide!

In the latest Rent vs. Buy Report from Trulia, they explained that homeownership remains cheaper than renting with a traditional 30-year fixed rate mortgage in the 100 largest metro areas in the United States.

The updated numbers actually show that the range is an average of 5% less expensive in Orange County (CA) all the way up to 46% in Houston (TX), and 36% Nationwide! 

Read More.

Tampa Lifestyle:

It’s decided: Museum of Science and Industry will move to downtown Tampa

Just five days after a consultant’s report said the struggling science center would thrive in a downtown location, museum leaders voted to initiate a strategic plan and enlist a task force that will guide a move to Tampa’s urban core. Planning efforts are expected to take a year.

Learn More.

Amazon prepping to launch Prime Now in Tampa area

Amazon.com (NASDAQ: AMZN) appears to be preparing to launch Prime Now, its one- and two-hour delivery services, in the Tampa region.

In the Adamo Distribution Center, a massive industrial complex on Adamo Drive, Amazon has leased about 30,000 square feet of warehouse space for Prime Now. Orientation for new employees is underway in its space, and the company is hiring part-time seasonal associates for Prime Now in Tampa.

Read More. 

Advice for Buyers:

8 Critical Things to Do Before Buying a Home: How Many Have You Done?

So you’re finally ready to get serious and buy a house—chalk it up to the amazing spring weather, or maybe a precious bun baking in the oven, or that much anticipated promotion at work. Whatever the reason, you feel primed to start poring over listings and spending your weekends open-house hopping. Exciting!

Yet while you might feel prepared for this next giant step, just remember—there’s a lot of planning and prep work that goes into this purchase, even before you start to look at homes. So make sure you’ve got all your mallards in a row first! Use this checklist to figure out if there are any things you may have missed.

Read the article. 

Young homebuyers cringe on credit scores

About a third of future first-time homebuyers say their credit score might hurt their ability to buy a home and that 45 percent said they have delayed a home purchase in order to improve their credit, according to a new survey by Experian. One in 5 said they were likely to opt out of the mortgage process or buying a home all together for the next five to 10 years.

Read More.

 

Search Tampa Homes for Sale

Advice for Sellers

10 Ways to Dazzle Homebuyers This Spring

Spring is a key time in the property market and, thankfully, it’s easier to make your home look sparkling and inviting when the sun’s shining. Use the warmer weather and longer days to prepare your home for sale by following these tips, which don’t cost much but make a world of difference. The sooner you sell, the sooner you can be moving into your new home.

Read more. 

Green Features: Do They Sell a Home?

Whether they’re environmentalists or not, today’s home buyers appreciate hearing about a home’s geothermal system, solar panels, Energy Star-rated appliances or LEED certification.

Home builders and sellers of upgraded homes with “green” features want their prospective buyers to know about these features because they likely spent a good amount of money on them. But do the buyers always care? Will they pay extra — and does “green” actually sell a home? The answer is, it all depends.

Read More.

The most important features to sell your home faster and at a higher price (15 Photos)

Between January 2014 and March 2016, Zillow Digs screened over 2 million home listings and searched for the keywords that had the best effect on the asking price. Here are the top 15 design features that tend to add value to a home:

Read More. 

 

Screen Shot 2016-03-07 at 10.03.47 AM

Screen Shot 2016-03-07 at 10.04.00 AM

Home Loans

Mortgage Rates Staying Near Yearly Lows

Freddie Mac reports the following national averages with mortgage rates for the week ending April 21:

  • 30-year fixed-rate mortgages: averaged 3.59 percent, with an average 0.6 point, rising from last week’s 3.58 percent average. A year ago, 30-year rates averaged 3.65 percent.
  • 15-year fixed-rate mortgages: averaged 2.85 percent, with an average 0.5 point, falling from last week’s 2.86 percent average. Last year at this time, 15-year rates averaged 2.92 percent.
  • 5-year hybrid adjustable-rate mortgages: averaged 2.81 percent, with an average 0.5 point, falling from last week’s 2.84 percent average. A year ago, 5-year ARMs averaged 2.84 percent.

Source: Freddie Mac

Read More

Thanks for taking time to read #Tampa Market Monday from Annette Bohannon. We would love to hear from you if you need help selling your home or buying a new one!  You can reach me, Doug Bohannon or Dale Bohannon at 813-979-4963 or by completing this contact form.

Have a Fantastic week!

Annette Bohannon, Team Bohannon, Keller Williams, 813-431-2840 www.teambohannon.com

Search for Tampa Homes By Neighborhood


  • Tampa

    Tampa

    Tampa, a beautiful, modern city located on the Gulf Coast of Florida, is bordered by Old Tampa Bay and Hillsborough Bay, which come together to makeup Tampa Bay. It offers…


  • Apollo Beach

    Apollo Beach

    Apollo Beach is a vibrant waterfront community, located in Hillsborough County in Tampa, FL. It features over 50 miles of interconnected canals that lead to Tampa Bay and the Gulf…


  • Land O Lakes

    Land O Lakes

    Land O’ Lakes, located in Pasco County, is north of downtown Tampa. It’s also part of the Tampa-St. Petersburg-Clearwater, Florida MSA. The population of the area is a little over…


  • Lithia/Fishhawk

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  • Lutz

    Lutz

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  • Odessa

    Odessa

    Odessa, located in Pasco County started as a community of open spaces that residents used for ranches and horse farms. But in more recent years, it has grown considerably due…


  • Brandon

    Brandon

    Brandon is an appealing suburb, east of downtown Tampa, Florida. It offers residents a quieter, family-oriented lifestyle just outside of Tampa’s city center. Over 100,000 people call it home and…


  • Riverview

    Riverview

    Riverview, Florida, located in Hillsborough County near Tampa has nearly 80,000 residents. The community saw its population increase close to 500 percent from 2000 to 2010 as new development occurred…


  • South Tampa

    South Tampa

    South Tampa, located on the Interbay Peninsula, includes areas of Tampa south of Kennedy Boulevard. Many of Tampa’s most unique and in-demand neighborhoods, Beach Park, Ballast Point, Bayshore Beautiful, Bayshore…


  • Ruskin

    Ruskin

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  • Westchase

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Posted in New Tampa, Tampa Market Monday, Wesley Chapel