Category: Wesley Chapel

July 18th, 2017 by chris@3cwebcontent.com

Happy Monday!

In this week’s Market Monday, I’ll take a look at how the Wesley Chapel real estate market performed in June of 2017.

Pricing Trends

First, let’s review the Median Sold Price* for each zip code within Wesley Chapel. Wesley Chapel (33543) rose 3.3% to $235,950, Wesley Chapel (33544) jumped 8.3% to $258,490 and Wesley Chapel (33545) gained 8.1% as the median sold price hit $226,250.

The following graphs show the Average Sale Price compared to the Original List Price. In Wesley Chapel (33543), sellers received an average of 97.8% of their original asking price, while in Wesley Chapel (33544) the ratio stood at 96.3% of original list price. The 33545 zip code in Wesley Chapel had the highest ratio.  In those neighborhoods, homes sold for 98.3% of their original list price, on average.

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

The Numbers of Homes Sold continued to outpace last year’s numbers, as 180 homes sold compared to 167 in June of 2016. That’s an increase of 8%. The Number of Homes for Sale fell 2%, as there were 9 fewer homes for sale than in June of 2016. The Number of New Properties saw a 3% increase as 216 homes came on the market versus 201 in June of last year.

 

 

Months of Supply, which measures housing inventory, dropped 24% — from 2.9 months (June 2016) to 2.3 months (June 2017). But the Average Number of Days a home stayed on the market plunged 34%, as homes sold in an average of 29 days. That’s 19 days faster, on average than in June 2016.

Bottom Line

Home sales and prices in Wesley Chapel continued for June 2017 outperformed June 2016 numbers.  The question now is will the pace of sales and the drop in inventory slow things down. Also, keep your eye on mortgage rates as they inch upwards. With the economy performing well, there’s a good chance more interest rate hikes will occur this year.  But even with these unknowns, selling your home or buying — sooner rather than later — is the best plan of action. We’re unlikely to see rates this low and demand for homes this high over the next few years.

(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!

(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.)

From the Blog:

The 5 Greatest Benefits of Homeownership

Recently, Freddie Macreported on the benefits of homeownership. According to their report, here are the five benefits that “should be at the top of everyone’s list.”

  1. Homeownership can help you build equity over time.
  2. Your monthly payments will remain stable.
  3. You may have some tax benefits.
  4. You can take pride in ownership.
  5. Homeownership improves your community.

Let’s expand on each of Freddie Mac’s points:

Read More

 

Buyers:

4 Common Home Buyer Slip-Ups

Real estate professionals see a lot of dumb reasons why home buyers ultimately end up losing out on a deal. Practitioners recently shared some of the more common mistakes with realtor.com®, including ways to correct the situation:

 

Search Tampa Homes for Sale

Advice for Sellers

Want to Get the Most Money for Your Home? Don’t Do These 9 Things

Owning a home and making mortgage payments is like putting money in the bank. Barring a market reversal, that nest egg of equity in your home will grow and grow. And for most homeowners, their house is their largest asset—which means there’s a lot of money at stake when it comes time to sell.

Want to get as much money back as possible from this big-ticket investment? Of course you do! So avoid doing these nine things when you put your home on the market.

Read More

Best paint color for a quick home sale? White

Certain paint colors can lift your spirits, make a room seem larger or smaller, and even — much to the chagrin of homeowners or real-estate agents — drag out the sale of a property.

These days, you can’t go wrong with shades of white and off white, according to Jody Finglas of Finglas Painting in Ossining, N.Y.

“What was very in vogue 10 years ago, like faux and decorative painting, funky wallpapers and dark accent walls, has changed,” he said. “Now it’s all about less is more. We’re seeing a lot of requests for lighter, brighter colors.”

Add color with furniture and accessories, Finglas said. They can be switched out easily depending on your mood or the season.

Read More

Home Loans

Mortgage Rates Jump Again

After fully absorbing the sharp increases in Treasury yields over the past couple of weeks, the 30-year mortgage rate has cleared the psychologically important 4 percent mark for the first time since May. Today’s survey rate stands at 4.03 percent, up 7 basis points from last week.

  • 30-year fixed-rate mortgage (FRM) averaged 4.03 percent with an average 0.5 point for the week ending July 13, 2017, up from last week when it averaged 3.96 percent. A year ago at this time, the 30-year FRM averaged 3.42 percent.
  • 15-year FRM this week averaged 3.29 percent with an average 0.5 point, up from last week when it averaged 3.22 percent. A year ago at this time, the 15-year FRM averaged 2.72 percent.
  • 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.28 percent this week with an average 0.5 point, up from last week when it averaged 3.21 percent. A year ago at this time, the 5-year ARM averaged 2.76 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

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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…
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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…
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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…
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Odessa

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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…
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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…
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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…
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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…
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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…
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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…
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Posted in Tampa Market Monday, Wesley Chapel

June 20th, 2017 by Annette Bohannon

 

Happy Monday!

In this week’s Market Monday, I’ll review how the Wesley Chapel real estate market fared in May of 2017.

The Numbers of Homes Sold leaped 32%, as 171 homes sold. That was 41 more than in May of 2016. Prices increased 2%, as the Median Sold Price* stood at $264,500, up from $259,908 in May 2016. The Number of Homes for Sale rose 6% or 33 more homes than in May of 2016. The Number of New Properties jumped 17% or 32 more units than in May of last year.

Months of Supply, which measures housing inventory, plunged 22% — from 2.3 months (May 2016) to 1.8 months (May 2017).  The Average Number of Days a home stayed on the market before being sold fell 19%, as homes sold in 41 days. That’s 9 fewer days, on average, than they sold in May 2016.

For a more detailed 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.)

 

Bottom Line

Home sales in Wesley Chapel heated up in May and should continue to outperform 2016 numbers through the summer. The biggest limiting factor will be the lack of inventory (homes for sale). If you’re on the fence about selling, it’s a good time to move forward since buyers are motivated but have fewer and fewer homes to choose from.

(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 who readers say has the Best Barbecue in the Bay

With 2,196 votes in the final round, Holy Hog Barbecue was named TBBJ’s Best Barbecue in the Bay 2017.

Holy Hog was founded by University of South Florida alumni Danny Hernandezin 2010, and has since expanded to five locations, all in the Tampa Bay area. Holy Hog, which is co-owned by Dave Burton, was honored as a 2016 USF Fast 56 award winner.

Holy Hog locations include downtown Tampa, which opened in 2014, South Tampa, Carrollwood, West Tampa and inside Amalie Arena.

Read More  

From the Blog:

Homeownership Is a Good Financial Investment!

According to a recent report by Trulia“buying is cheaper than renting in 100 of the largest metro areas by an average of 33.1%.” The report may have some people thinking about buying a home instead of signing another lease extension, but does that make sense from a financial perspective?

Ralph McLaughlin, Trulia’s Chief Economistexplains:

“Owning a home is one of the most common ways households build long-term wealth, as it acts like a forced savings account. Instead of paying your landlord, you can pay yourself in the long run through paying down a mortgage on a house.”

Read Blog Post

Advice for Buyers:

Best cities for first-time homebuyers

Tampa is #2.

  • Home values (median): $183,300
  • Annual forecasted appreciation: 3.2%

Residents of Tampa enjoy warm weather year-round, at a cost that’s lower than many other beach towns. Nearly one-in-five house listings in Tampa have had a recent price cut, according to Zillow, suggesting the market there may be less competitive for new homebuyers than in some other cities.

Alongside potential real estate deals, homeowners in Tampa will find a thriving financial sector as well as military jobs at the MacDill Air Force Base. “The I-4 corridor is the bread basket for growth in Florida, and a lot of that boils down to affordability,” says Sean Snaith, an economist with the University of Central Florida.

Read More

Fannie Mae Policy Changes to Aid Millennial Homebuyers

Millennials locked out of their homeownership dreams by high debt-to-income ratios and student loan debt will soon have reason to take another look at purchasing, thanks to a number of policy changes at Fannie Mae.

First, Fannie Mae recently announced that beginning July 29, they will accept borrowers with debt-to-income ratios, or DTI, as high as 50 percent, up from 45 percent today.

Read More

Search Tampa Homes for Sale

Advice for Sellers

Virtual Home Staging

We’ve discussed in detail how effective home staging and great photography can be when selling a home. But how do you accomplish this with a vacant, empty home? One option is to furnish the whole home as part of the staging process. The other is virtual staging.

We spoke with Krisztina Bell, Founder of Virtually Staging Properties, to learn more about virtual staging and how it helps sell homes.

What Is Virtual Staging?

Virtual or digital home staging is virtually placing furniture and decor into photos of a typically vacant home to show buyers what the room would look like with furniture. Because online listings and their photos are so important, and photos of empty homes are far less attractive to potential buyers, virtual staging is an effective way to impress buyers and drive traffic to the home.

Read More

A New Study Says This Paint Color Increases Your Home’s Selling Price

Attention home-sellers: before you even think of putting your house on the market, you might want to consider giving the space a wash of color. But not just any color! According to the 2017 Paint Color Analysis study conducted by Zillow, blue paint has the potential to add serious value to your home’s selling price.

The popular real estate site researched five different spots — kitchens, bedrooms, bedrooms, dining rooms, and front doors — to determine just how much value we’re talking about. Spoiler: the numbers are staggering.

Read More

Home Loans

Mortgage Rates Inch Up After Extended Decline

The 30-year mortgage rate rose 2 basis points over the week to 3.91 percent. However, our survey was conducted before investors drove Treasury yields sharply lower in a reaction to the surprisingly weak CPI release. If that drop in yields sticks, mortgage rates are likely to follow in next week’s survey.

  • 30-year fixed-rate mortgage (FRM) averaged 3.91 percent with an average 0.5 point for the week ending June 15, 2017, up from last week when it averaged 3.89 percent. A year ago at this time, the 30-year FRM averaged 3.54 percent.
  • 15-year FRM this week averaged 3.18 percent with an average 0.5 point, up from last week when it averaged 3.16 percent. A year ago at this time, the 15-year FRM averaged 2.81 percent.
  • 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.15 percent this week with an average 0.5 point, up from last week when it averaged 3.11 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 Tampa Market Monday, Wesley Chapel

June 1st, 2017 by Annette Bohannon

Happy Tuesday!

I hope you had a wonderful Memorial Day Weekend. Also, I want to thank all the past and current veterans who have served our country.

Today I’m going to present a longer-term view on the Wesley Chapel real estate market. This will help put into perspective how the housing market has progressed over the last three years.

First, let’s look at prices. We will use Median Prices* (see note below about why this is a better metric than average prices). Median Sold Price rose  15% to $264,395 from April of 2015 compared to April of 2017. That represented an increase of $33,895. If you compare the Median Sold Price with the Median For Sale Price, you’ll notice that it is also up 15%.

The Number of Sold Homes climbed 18% from 114 (April 2015) to 134 (April 2017) during the same time period. The Number of Homes for Sale was nearly the same, while the Number of New Properties dropped 3%. This decrease in housing inventory caused the Months Supply of Homes to fall 11% — from 2.3 to 2.1 months. The Average Number of Days a home stayed on the market declined 5% — or 3 days — from 64 to 61 days.

To sum it up, prices and home sales climbed double-digits over the past few years. Combine this with dwindling inventories and faster sale times and you’ll see that now is an opportune time to list and sell your home. This trend should continue throughout the summer. And buyers, even though it’s a seller’s market, amazingly low mortgage rates still make it a great time to buy.

See the charts below for a month-by-month breakdown of these trends.

(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? “Outliers” or homes sold at an extremely high or low price — like the $800,000 home in our example — do not affect it as much.)

 

 

 

 

 

Tampa:

Super Bowl LV moved from LA to Tampa

Super Bowl 55 has been moved to Tampa, the NFL Network reported on Tuesday.

The network reported NFL owners voted unanimously to move the game to Tampa, while Los Angeles will host Super Bowl 56, according to sources.

Super Bowl 55 will tentatively take place February 7, 2021. The game will air on News Channel 8.

“Being awarded Super Bowl 2021 is a testament to our city’s ability to shine on the international stage,” said Mayor Bob Buckhorn. “Tampa does big events as well as anybody in the world and once again we will rise to the occasion.We look forward to working to meet the host requirements over the weeks ahead.”

Read More

From the Blog:

Is Now a Good Time to Rent?

People often ask if now is a good time to buy a home, but nobody ever asks when a good time to rent is. Regardless, we want to make certain that everyone understands that today is NOT a good time to rent.

The Census Bureau recently released their 2017 first quarter median rent numbers. Here is a graph showing rent increases from 1988 until today:

Read More

How’s the Real Estate Market? Find Out What the Experts Are Saying

As we head into summer, it is a great time to review how the 2017 real estate market is doing so far. Here is what the experts are saying:

Doug Duncan, Fannie Mae Chief Economist

“Positive demographic factors should continue to reshape the housing market, as rising employment and incomes appear to be positively influencing millennial homeownership rates.”

Diana Olick, CNBC

“Even as more homes come on the market for this traditionally popular sales season, they’re flying off fast, with bidding wars par for the course. Home prices have now surpassed their last peak, and at the entry level, where demand is highest, sellers are firmly in the driver’s seat.”

Daren Blomquist, Senior VP at Attom

“I am guessing we will see it get even better… If you are considering moving, it could be a really good time to sell.”

Lawrence Yun, NAR Chief Economist

“The early returns so far this spring buying season look very promising as a rising number of households dipped their toes into the market and were successfully able to close on a home last month. Although finding available properties to buy continues to be a strenuous task for many buyers, there was enough of a monthly increase in listings…for sales to muster a strong gain. Sales will go up as long as inventory does.”

Mark Fleming, First American Chief Economist

“Despite higher mortgage rates, the potential for home sales increased on an annual basis driven by steady income and job growth, along with a surge in building permits. While it may be a little late for this spring, the increase in building permits is a welcome sign that some relief may be in sight for the inventory shortages that are holding back many markets from realizing their full potential this spring.”

Read More

 

Advice for Buyers:

The Top Cities for Out-of-Town Home Buyers

In the first quarter of 2017, nearly one in five home buyers focused their online searches on properties outside of their current metro area, according to an analysis by Redfin of nearly 1 million users searching for homes across 75 metro areas.

There are not enough “budget-friendly housing” options to make consumers want to stay loyal to their current cities, says Nela Richardson, Redfin’s chief economist. “For many, the only path to homeownership is to pack up and move out.”

So where are these online home searchers looking to relocate to? Redfin cited the following 10 metros as garnering the most out-of-town views (cited along with city where the searchers are most likely to be currently living).

7. Tampa, Fla.

  • The percentage of out-of-town shoppers: 52.4%
  • Where the most buyers currently live: Washington, D.C.

Read More

Search All Tampa Area Homes for Sales 

Home Loans

Mortgage Rates Drop to Lowest of 2017

As we predicted, the 30-year mortgage rate fell 7 basis points this week in a delayed reaction to last week’s sharp drop in Treasury yields. The survey rate stands at 3.95 percent today, a new low for the year.

  • 30-year fixed-rate mortgage (FRM) averaged 3.95 percent with an average 0.5 point for the week ending May 25, 2017, down from last week when it averaged 4.02 percent. A year ago at this time, the 30-year FRM averaged 3.64 percent.
  • 15-year FRM this week averaged 3.19 percent with an average 0.5 point, down from last week when it averaged 3.27 percent. A year ago at this time, the 15-year FRM averaged 2.89 percent.
  • 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.07 percent this week with an average 0.4 point, down from last week when it averaged 3.13 percent. A year ago at this time, the 5-year ARM averaged 2.87 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. We’d love to help you buy or sell your home, so please get in touch! 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…
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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…
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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…
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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…
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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…
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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…
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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

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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 Tampa Market Monday, Wesley Chapel

May 15th, 2017 by Annette Bohannon

Happy Monday!

Today, let’s see how the housing market in Wesley Chapel fared in April of 2017 compared to April of 2016.

Median Sold Price* held steady at $292,000, but the Number of Homes Sold jumped 21% as 98 homes sold or 17 more than in April a year ago. The Number of Homes for Sale in April dropped by 9 units or 2% compared to April 2016. The Number of New Properties was exactly the same — 117 units — as April one year ago.

The Average Number of Days a home stayed on the market fell 9% or 5 days. In April of 2016, homes sold in an average of 59 days, while in April 2017, they sold in 54 days. Housing inventory measured by Months of Supply plunged 30% — from 3.0 (April 2016) to 2.1 months (April 2017).

See charts below for a more detailed breakdown of the trends.

(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? “Outliers” or homes sold at an extremely high or low price — like the $800,000 home in our example — do not affect it as much.)

Bottom Line

Prices are holding firm, but inventory is dropping fairly rapidly. Buyers face stiff competition for the available houses, so it’s important for buyers to have a savvy buyer’s agent who can find the best deals and negotiate in  your favor.

Those who plan to sell should do so now rather than later. The combination of fewer homes available and the fact that we are in the peak real estate season should mean top prices and faster sales.

(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 here’s an overview of some of the most helpful and interesting blog posts, articles, and infographics we’ve read this week. Enjoy!

Tampa:

Study: Tampa Bay is nation’s second best area for first-time homebuyers

For first- time homebuyers, you can’t beat the Orlando and Tampa Bay areas.

Despite steadily rising prices, both are relatively affordable compared to the West Coast and Northeast at a time when nearly half of all buyers are first-timers, a new Zillow report says.

As millennials — those in the 18-34 age group — “reach the typical home buying age, they are coming into a tough housing market with low inventory and lots of competition,” said Svenja Gudell, Zillow’s chief economist. “More challenging metro areas aren’t out of reach for new buyers, but they should be prepared to face a more competitive buying environment.”

Read More

Nearly a dozen Tampa Bay area magnet schools make a list of the best in the U.S.

The latest ranking of the top magnet schools in the country by U.S. News & World Report includes 11 Tampa Bay schools. But only one local school, Robinson High School, was awarded the gold medal by the publication.

The gold medal indicates the top 500 schools based on highest college readiness.

Read More

From the Blog:

Inventory Shortages Are Slowing Down the Market

The real estate market is moving more and more into a complete recovery. Home values are up. Home sales are up. Distressed sales (foreclosures and short sales) have fallen dramatically. It seems that 2017 will be the year that the housing market races forward again.

However, there is one thing that may cause the industry to tap the brakes: a lack of housing inventory. While buyer demand looks like it will remain strong throughout the summer, supply is not keeping up.

Here are the thoughts of a few industry experts on the subject:

Read More

 

Read More 

Advice for Buyers:

Here’s how big a home you can buy for $400,000 in the 25 biggest cities in America

Tampa

Square footage: 2,963

Price per square foot: $135

Median home value: $216,000

Read More

Here’s how much home $300,000 will buy you in every US state

Florida

Median price per square foot: $155

$300,000 buys you: 1,931 square feet

Read More

 

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Advice for Sellers

 


Read More.

 

Home Loans

Mortgage Rates Continue to Hold

The 10-year Treasury yield jumped 8 basis points this week while the 30-year mortgage rate rose 3 basis points to 4.05 percent. Mixed economic reports over the last few weeks have anchored the 30-year mortgage rate around the 4 percent mark.

  • 30-year fixed-rate mortgage (FRM) averaged 4.05 percent with an average 0.5 point for the week ending May 11, 2017, up from last week when it averaged 4.02 percent. A year ago at this time, the 30-year FRM averaged 3.57 percent.
  • 15-year FRM this week averaged 3.29 percent with an average 0.5 point, up from last week when it averaged 3.27 percent. A year ago at this time, the 15-year FRM averaged 2.81 percent.
  • 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.14 percent this week with an average 0.5 point, up from last week when it averaged 3.13 percent. A year ago, the 5-year ARM averaged 2.78 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. We’d love to help you buy or sell your home, so please get in touch! 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

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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

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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…
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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…
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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…
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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

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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…
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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…
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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…
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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…
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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…
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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

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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

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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…
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Posted in Tampa Market Monday, Wesley Chapel

July 30th, 2016 by Annette Bohannon

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

Happy Monday!

Today, we’re going to review the second quarter (April 1 – June 30) of the Wesley Chapel housing market compared to Q2 of 2015. Overall, WESLEY CHAPEL REAL ESTATE continues to build momentum as prices rise, interest rates remain low, and days on the market drops significantly.

Wesley Chapel has 3 zip codes (33543, 33544, 33545) so we will break sales down by each zip.

33543

In 33543, SOLD DOLLAR VOLUME increased by 7.64% over Q2 of 2015, rising from $64,294,824 to $69,205,965. Five fewer HOMES SOLD in Q2 (276) of 2016 compared to Q2 of 2015 (281), but the AVERAGE SOLD PRICE climbed 9.59% — from $228,807 (2015) to $250,746 (2016). AVERAGE LIST PRICE rose 9.12%, while the MEDIAN SOLD PRICE leaped 24.42%. AVERAGE DAYS ON THE MARKET fell 28.21% from 78 (Q2 2015) to 56 days (Q2 2016).

wesley-chapel-33543-home-sales-q2-2016

33544

The SOLD DOLLAR VOLUME in 33544 declined 6.28% (Q2/2015) from $44,164,756  to $41,392,660 (Q2/2016). Twenty-one fewer HOMES SOLD in Q2 (163) of 2016 compared to Q2 of 2015 (184), but the AVERAGE SOLD PRICE increased from $240,026 (2015) to $253,943 — a 5.8% gain. (2016). AVERAGE LIST PRICE rose 4.49%, while the MEDIAN SOLD PRICE increased 6.73%. AVERAGE DAYS ON THE MARKET ticked down 1.52% from 66 (Q2 2015) to 65 days (Q2 2016).

wesley-chapel-33544-home-sales-q2-2016

33545

In 33545, SOLD DOLLAR VOLUME jumped nearly 50% — from $18,914,001 in the second quarter of 2015 to $28,298,442 in the second quarter of 2016. The number of HOMES SOLD leaped 36.96%, as 126 home sold in Q2 2016 compared to 92 in Q2 2015. The AVERAGE SOLD PRICE rose 9.24%  from $205,587  (2015) to $224,591 (2016). AVERAGE LIST PRICE went up 7.85% and the MEDIAN SOLD PRICE increased 7.47%. AVERAGE DAYS ON THE MARKET dropped 16.46% — from 79 (Q2 2015) to 66 days (Q2 2016).

wesley-chapel-33545-home-sales-q2-2016

Buyers

Now more than ever, you need a REAL TIME EXPERT to keep you aware of NEW HOT LISTINGS and PRICE REDUCTIONS so you can act quickly. We keep you informed instantly, so you have an advantage in this highly competitive market. We also help you negotiate, which is extremely important in this type of market. Our experience and unparalleled client service is guaranteed to keep you happy throughout the buying process.

Sellers

Now is the time, to list your home if you plan to sell in the next few months or years. It’s unlikely you will find a better combination of low inventory and rates with rising selling prices. Plus, historically speaking, Spring and Summer are the best times to sell your home and things begin to drop off somewhat as the year ends.

(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 we’ve found this week on buying and selling a home and the trends in mortgage rates. Also, we’ll look at some Tampa area news.

Tampa:

Website ranks St. Petersburg, Tampa as top ‘pet friendly’ cities in the U.S.

A new ranking by the real estate site Zumper calls St. Petersburg the most pet friendly city in the country, with Tampa following closely behind.

The ranking calculated scores for 95 American cities in three categories: ease of owning a pet, places to play and the number of home rental listings that allow animals.

Ease was based on the number of pet stores, veterinarians and pet-friendly restaurants listed on Yelp, as well as the cost of pet insurance. Play scores were based on the number of dog parks per capita, the percentage of each city’s area set aside for parks in general, pleasant weather and a city’s walkability according to WalkScore.

Read more. 

Tampa International Airport lands nonstop flight to San Francisco

Airport officials say the route is one of the most in-demand in the country and has been the airport’s top domestic priority for some time. Nearly 200 people pass through Tampa’s terminals daily en route to San Francisco, according to data collected by the airport. The new route is expected to boost business and tourist travel to Tampa Bay, and local tourism officials are exploring new avenues to market Tampa Bay’s beaches and attractions to West Coast travelers.

Read more. 

 

From the Blog:

The Top Reason to List Your House For Sale Now!

The National Association of REALTORS’ (NAR) Chief Economist, Lawrence Yun recently commented on the inventory shortage:

“With demand holding firm and homes selling even faster than a year ago, the notable increase in closings in recent months took a dent out of what was available for sale. Realtors are acknowledging, with increasing frequency lately, that buyers continue to be frustrated by the tense competition and lack of affordable homes for sale in their market.”

Read more. 

 

Americans Believe Real Estate is Best Long-Term Investment

Americans Believe Real Estate is Best Long-Term Investment | Simplifying The Market

Read More.

 

Advice for Buyers:

 

15 Surprising Things All First-Time Homeowners Should Know

Buying a house is one of life’s biggest moments, but that doesn’t mean it’s not a little scary. A recent Reddit chat asked first-time homeowners to reveal the one item that ended up being super useful to them in their new abode, and the answers were incredibly helpful.

Read the article. 

6 Top Things Home Buyers Forget to Do: Did You Miss Them Too?

No matter how carefully home buyers do their homework, certain tasks on the home-buying to-do list often fall through the cracks. And not tiny ones, either! We’re talking about oversights that can lead to major money down the drain, battles with local government or the homeowners association, and other regret-filled dramas that could have been easily avoided—that is, had home buyers known where these issues were hiding a bit earlier.

Read the article. 

 

Search Tampa Homes for Sale

Advice for Sellers

 

The Worst Home-Selling Advice People Actually Believe

Let us give you our own little piece of advice: Don’t take everyone’s advice! While friends, family, and the occasional stranger love to wax poetic on how to best sell a home, their 2 cents could end up costing you a bundle.

To make sure you sell your home without a hitch, we’ve compiled these examples of the worst home-selling advice you might hear, and why they could ruin your chances. Beware!

When Selling Your Home, Should You Always Choose the Highest Offer?

One of the best things a home seller can hear is that there are multiple offers on their home. However, choosing the highest bidder isn’t always the best move.  There are other factors to consider before deciding to move forward with an offer, and different methods of deciding which offer to choose.

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 Up Slightly

News Facts

  • The 10-year Treasury yield remained flat this week in anticipation of the Fed’s July policy meeting. Mortgage rates, on the other hand, rose another 3 basis points to 3.48 percent. Nonetheless, home sales continue to benefit from the persistently low mortgage rates with June’s new home sales coming in at an annualized rate of 592,000 homes – its fastest pace since 2008.
    • 30-year fixed-rate mortgage (FRM) averaged 3.48 percent with an average 0.5 point for the week ending July 28, 2016, up from last week when it averaged 3.45 percent. A year ago at this time, the 30-year FRM averaged 3.98 percent.
    • 15-year FRM this week averaged 2.78 percent with an average 0.5 point, up from last week when it averaged 2.75 percent. A year ago at this time, the 15-year FRM averaged 3.17 percent.
    • 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.78 percent this week with an average 0.5 point, unchanged from last week. A year ago, the 5-year ARM averaged 2.95 percent.

    PMMS Graph
    Click to enlarge

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

Posted in Tampa Market Monday, Wesley Chapel

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


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  • Westchase

    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…


  • Luxury 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…


  • Golf Course Communities

    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…


  • Waterfront Properties

    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…

Posted in New Tampa, Tampa Market Monday, Wesley Chapel