Tampa Real Estate Blog

Single family home sales jumped significantly in June 2010. In the Tampa Bay area 3,226 homes were closed as compared to 2,848 last year in June. In looking at the last eight years in Tampa Bay the lowest point was June 2008 with sales of 2,346 and the high, of course, was June 2005 with sales of 3,751.

Nationally, the US housing market has enjoyed renewed weakness as sales of existing single family homes fell 5.1 percent in June according to the National Assoc. of Realtors when compared to May. But the sales for the year are up 9.8 percent. The month to month drop from May to June is being blamed on the expiration of the tax credits that targeted first time homebuyers.

Condo sales in the Tampa Bay area have surged 36 percent compared to a year ago but the median price fell below $100,000 which is about 13 percent down. Buyers should keep in mind that these numbers for the most part refer to inland condos and not beachfront condos which are considerably more expensive even still.

The are still more great deals for condos on Clearwater Beach but be prepared to spend at least $250,000 and up depending on view, amenities, and condition of condos. For more information, call us at 888 423 5775.

Home loan rates continue to remain highly affordable amid heightened volatility in the bond markets. According to figures recently released by home financing giant Freddie Mac, U.S. mortgage rates continued to hover at or around record lows, with a 30-year fixed rate mortgage at half a percentage point lower than this time a year ago.

After staging a demonstrable recovery in the weeks before, demand for home loans plummeted to reach 13-year lows last month as buyers raced to secure a homebuyer tax credit set to expire April 30. Analysts acknowledge that the decline is likely only temporary, and attribute spring housing market growth to the credit.

“The economy grew at a slower rate than originally reported in the first three months of the year, according to the Bureau of Economic Analysis, which suggests inflation will remain tame in the near term,” said Freddie Mac chief economist Frank Nothaft. “As a result, mortgage rates held at historic levels this week.”

The housing market is widely expected to be on a gradual road to recovery because of affordable financing options and low home prices. Up only 0.01 percentage points from the week before, 30-year fixed mortgage rates averaged 4.79 percent in the week ended June 3, making rates a half-point lower than a year before.

Reaching an all-time low of 4.71 percent this past December, 30-year fixed mortgage rates remain largely unchanged. Freddie Mac has tracked 30-year mortgage rates since 1971, releasing weekly figures.

Similarly, rates for 15-year fixed-rate home mortgages set a new record low of 4.20 percent. The new low is far below the 4.79 average percentage rate of a year prior. The home company has tracked 15-year rates since 1991.

Eric Bramlett is the broker & co-owner of One Source Realty, a boutique Austin real estate company. Eric currently manages his agents & works with select buyers & sellers. Eric specializes in Austin condos for sale.

The summer months are upon us, which means it’s time to look for a restaurant with outdoor seating to enjoy that renowned Florida sunshine. And, when looking for that perfect relaxation spot there are three pillars to keep in mind: good food, good service, and good atmosphere. Dunedin and Clearwater Beach have no shortage of the three.

At the end of Main Street closest to Dunedin Marina sits Sea Sea Riders, a seafood restaurant previously voted Best Chef Specials by Tampa Bay Magazine nestled among oaks and palm trees. The small blue house turned restaurant provides a down-home atmosphere with similarly prepared food and a wraparound porch to complete the ambiance. This is a place for gathering and rehashing stories and catching up with old time friends. Show up in jeans and a t-shirt to have a good time, but be sure to visit the Marina for a gorgeous harbor view after you’re finished.

If you are planning on a sunset dining experience, then there is no better place than Frenchy’s Rockaway Grill on North Beach of Clearwater Beach. As soon as you walk onto the wood-plank walkway, you are immersed in the island feel as the décor is splashed with vibrant colors reminiscent of an authentic Caribbean eatery. The restaurant is entirely open-air with the only protection from the elements being white tarps rolled down from the awnings; however, on a nice summer day it allows a cool breeze to fill the building from front to back. As you walk in, you have several seating choices: to the immediate left is a section with tabletops, pool tables, and TV’s to catch the game, towards the right is general indoor seating and an additional bar that faces the sand, and on the opposite wall of the bar is the outdoor deck filled with brightly colored umbrellas for those that just don’t get tired of being outside. From this deck watch a spectacular show as the sun begins its decent, finally sinking into the calm Gulf of Mexico. You can’t go wrong with the Frenchy’s menu, but they are renowned for their grouper sandwich.

So, grab a bite to eat and enjoy the surroundings!

MOMS
Answers given by 2nd grade school children to the following questions:

Why do we have mothers?
1. She’s the only one who knows where the scotch tape is.
2. Mostly to clean the house.
3. To help us out of there when we were getting born.

What ingredients are mothers made of?
1. Moms are made out of clouds and angel hair and everything nice in the world and one dab of mean.
2. They had to get their start from men’s bones. Then they mostly use string, I think.

What kind of a little girl was your mom?
1. My mom has always been my mom and none of that other stuff.
2. I don’t know because I wasn’t there, but my guess would be pretty bossy.
3. They say she used to be nice.

What did mom need to know about dad before she married him?
1. His last name.
2. She had to know his background. Like is he a crook? Does he get drunk on beer?
3. Does he make at least $800 a year? Did he say NO to drugs and YES to chores?

Why did your mom marry your dad?
1. My dad makes the best spaghetti in the world. And my mom eats a lot.
2. She got too old to do anything else with him.
3. My grandma says that mom didn’t have her thinking cap on.

Who’s the boss at your house?
1. Mom doesn’t want to be boss, but she has to because dad’s such a goof ball.
2. Mom. You can tell by room inspection. She sees the stuff under the bed.
3. I guess mom is, but only because she has a lot more to do than dad.

What’s the difference between moms and dads?
1. Moms work at work and work at home and dads just go to work at work.
2. Moms know how to talk to teachers without scaring them.
3. Dads are taller and stronger, but moms have all the real power ’cause that’s who you got to ask if you want to sleep over at your friends.
4. Moms have magic, they make you feel better without medicine.

What does your mom do in her spare time?
1. Nothin. My Mom don’t do spare time.
2. To hear her tell it, she pays bills all day long.

What would it take to make your mom perfect?
1. On the inside she’s already perfect. Outside, I think some kind of plastic surgery.
2. Diet. You know, her hair. I’d diet, maybe blue.

If you could change one thing about your mom, what would it be?
1. She has this weird thing about me keeping my room clean. I’d get rid of that.
2. I’d make my mom smarter. Then she would know it was my sister who did it not me.
3. I would like for her to get rid of those invisible eyes on the back of her head.

Tax Day 2010 has come and gone.

Nationwide, taxpayers capitalized on the homebuyer tax credit. However, qualified service members still have more than a year to take advantage of the credit that can return up to $8,000 and $6,500 to first-time and repeat homebuyers, respectively.

The extension for most taxpayers gave them until April 30, 2010 to ink a binding sales contract, and three more months to close the deal. Members of the armed forces, intelligence community and Foreign Service who are on official extended duty have until April 30, 2011 to sign a deal and July 30, 2011 to close it.

Those who qualify for the extra year will likely find appeal in the MacDill Air Force Base. The base is in the heart of Tampa Bay and only minutes from Tampa. Therefore, military members who have a VA loan backed by the Department of Veterans Affairs can still make use of the homebuyer tax credit. Also, the VA Home Loan Guaranty program caps interest rates for active-duty military members. Those terms make MacDill an even more attractive place to settle down. View homes near MacDill here.

To use the tax credit, there are general conditions:
-The maximum purchase price of a home is $800,000.
-To be considered a first-time homebuyer, you or your spouse cannot have owned a home in the last three years.
-Individuals with an annual income of at least $125,000 and married couples with an annual income of at least $250,000 cannot qualify for the tax credit.
-Those who are not purchasing their first home can qualify for up to $6,500 in return. All other requirements are the same, but the buyer must have occupied the residence for five of the last eight years.

If after buying a home with the help of the tax credit and having to sell it within three years of the initial purchase, the returned money amount will not be recaptured.

Read more about VA Guidelines here.

April may very well be the right time to buy for those who have been trying to find the perfect time to purchase a home. In fact, waiting beyond the month of April could potentially result in losing tens of thousands of dollars when making a home purchase. Therefore, for those who are seriously considering purchasing a home should start looking for the perfect home right away.

Perhaps the most obvious reason to purchase a home in April is the fact that the Home Buyer Credit will soon be expiring. Although the credit was extended through to June, the contract for the purchase needs to be signed by the end of April. If home buyers purchase a home that costs $80,000 or more, they stand to receive a tax credit of $8,000 if they meet the criteria for the program. For homes that cost less than $80,000, the tax credit is equivalent to 10% of the purchase price. Considering the fact that most buyers take several weeks to find the right home, there really is no time to spare for those who want to take advantage of this great tax incentive.

Many people who have been thinking about purchasing a home have been watching prices closely, as it is no secret that housing costs have been steadily declining. According to many experts, most markets will be bottoming out in April. While it is impossible to predict when the prices will reach absolute bottom, it is safe to assume that most markets won’t fall much further than their April prices. In fact, those who wait until May to make a purchase may find that the costs are already starting to go back up.

As if there needed to be another reason for purchasing a home in April, the low mortgage interest rates provide yet another incentive to make a purchase. For the last several months, long-term mortgage interest rates have been hovering around the 5% mark and have even stayed below 5% for several weeks in a row. The Fed has recently put an end to the mortgage backed securities that have helped make the interests rates so low. As a result, many experts predict that interests rates will likely reach the 6% mark by the end of the year.

While there is no doubt that no one should purchase a home unless they are financially prepared to make the purchase, those who are prepared to take on the responsibility of home ownership will likely never find a better time to buy than April.

About the Author:
Eric Bramlett is the broker & co-owner of One Source Realty, an Austin real estate brokerage. One Source Realty helps select clients find central Austin real estate, as well as Steiner Ranch homes for sale. Eric working with select clients, helping his agents succeed, and relaxing at the lake with his wife & dogs.

Looking for a place to stay that’s off the beaten path yet convenient to everything? If you like the charm of a bed and breakfast, the Ibis Bed & Breakfast is Safety Harbor’s quiet little surprise. Visit this wonderful inn, and warmth and hospitality will greet you at the door. The Ibis is just around the block from the shops and the eclectic restaurants of Main Street, as well as the renowned Safety Harbor Spa. Not only that, but the inn holds an AAA 3 Diamond rating and has been a Donel Dermody White Glove award winner for four years now.

Safety Harbor is a perfect place to window shop or take a stroll. “Third Fridays” happen monthly at the John Wilson Park gazebo and are full of fun, food and music. Of course there is usually a concert, farmers market or art show to attend most every weekend here. Helene is the proprietor of the inn & will be more than happy to point you in the direction of something fun to do nearby. Packages that include massage therapy and dinner are a romantic treat for a couple and a relaxing way to unwind.

Maybe you’d like to spend a day at the beach? Honeymoon Island in Dunedin is just minutes away and is one of the Tampa Bay area’s most perfect spots to enjoy nature. Take a hike on the beach trails or just watch the clouds drift by. Safety Harbor is centrally located and couldn’t be a more perfect stop off for business travelers. The Tampa International airport is less than 20 minutes away and an easy drive across the causeway. Venture away from the chain hotels and relax at a small town inn that feels like home, complete with wireless internet access of course.

Buddy, the miniature poodle of the house, is a friendly pooch who loves attention. Enjoy a delicious home cooked breakfast, then meander through the french doors to the patio garden. Take along a book and relax by the fountain before you start your day. In the evening, have a seat and enjoy a cup of tea or a glass of wine by the outside fire pit. It’s a peaceful way to wind down your day.

You will truly enjoy your stay at the Ibis Bed and Breakfast in Safety Harbor and look forward to your next visit.

The Ibis B&B is located at 856 5th Street South in Safety Harbor, Florida (727)723-9000. This Safety Harbor Real Estate agent recommends you visit www.ibisbb.com for more information.

With permission from June, Harvey, and Ginny on their recent purchase in Tarpon Springs:

“Thanks Bob for the home warranty on the property we purchased, that was so very kind of you. What a really lovely thing to do for me; I appreciate your generosity very much particularly in light of this not being much of a commission for you. We know that my little villa was not the sort of property that realtors can make a good living out of but you treated us like we were million dollar customers. Again, thanks so much for all your help & kindnesses along the way. I certainly wouldn’t have been able to purchase such a lovely villa without your interest & devotion. Ginny, Harvey & I felt from the time we met you that you were much more than just a realtor. I’ve been in hospitality most of my life & I know from personal experience that people are very quick to complain but rarely take the time to praise someone. You are really very special!”

June & Harvey from Northern Australia

Contact us through the form on this page if you would like to join our successful team. We are currently seeking newly licensed (or soon to be licensed) agents to work with our experienced agents. We provide mentoring and buyer inquiries. We are looking for you if you are motivated to work hard, have high ethical standards, a fully functioning home office, reliable transportation, the willingness to serve all four counties and a strong flair for customer service. Is this you? If so, send us an email and tell us why. No phone calls.

Looking for that “Old Florida” feel within a waterfront community? Bahama Shores offers that and more! Every homeowner has waterfront access here - whether their home is on the water or not. The homeowner’s association dedicated the last waterfront lot to the enjoyment of all that live here making it a waterfront park where residents can socialize, fish, kayak and more.

View all homes for sale in Bahama Shores.

All around Bahama Shores there is mature landscaping and homes with character. Large lots that are well cared for keep the neighborhood in tip top shape, making it one of the most sought after subdivisions in St. Petersburg.

Currently there are only two homes for sale in Bahama Shores. And, fortunately for the current homeowners, but unfortunately for the future buyers interested in this pristine subdivision, homes just don’t come on the market too often in here.

We can help! Email us to get on our automatic alert program if you are interested in buying in Bahama Shores. Within minutes we can set you up to receive an email the instant the next home goes up for sale.