5 months ago Heather and John Warwick of New Port Richey gave birth to a healthy baby boy they named “Maddon”. Why Maddon? Because they are avid Rays fans and since they were having a boy they couldn’t think of a more appropriate name. Heather and John have been following the Rays for 6 years and have gone to countless games. On Monday, April 22, 2013 they were invited to the game and were honored as VIP fans with free tickets, a tour of all the facilities and a meet and greet with many of the players and Joe Maddon himself. Joe Maddon was delighted and held little Maddon for photos. Heather and John were interviewed and will be used in subsequent appreciation marketing for the Rays new slogan “Tampa Bay Rays Welcome Home!”. After the interview Heather, John, and Maddon along with Len and Roschelle Lipply were given great seats behind home plate to watch the game against the Yankees. Tampa Bay has great baseball fans and the Rays surely know how to honor them!
Is The Real Estate Market a Buyer’s Market or Seller’s Market?
One of the most common questions that Florida homeowners and people who are interested in buying homes across the United States have right now is if the current real estate market a buyer’s market or is it a seller’s market? The answer to this question depends upon who you ask but, if you look at the facts and figures regarding the current real estate market right now you’ll see that due to a lack of supply and higher demand for homes across United States, the current real estate market is a seller’s market.
Real Estate Marketing Improving In Florida
Thanks to median home prices that have increased in the last few months and reduced home inventory, the real estate market in Florida is beginning to look up, other factors that are helping the Florida real estate market include very low interest rates and home buyers that don’t want to wait any longer to purchase homes.
According to Summer Greene, president of the Florida Realtors for 2012, pending sales in Florida are up around 30% or more for regular single-family homes and they are also up over 20% for condos and townhomes. A pending sale refers to a contract that’s been signed but not yet closed. A real estate sale typically closes within 90 days or less after the contract has been written.
Average Median Home Price
The average median price for a single-family residence in Florida is very affordable at hundred $139,000 dollars and this figure is up almost 10.5% compared to the same time one year ago. For condos and townhomes in Florida, the average median price is $105,000 dollars and this price is also up over 20% compared to the same time last year as well.
The real estate market is also looking up for other states as well too. In California the average median home price for single-family home is around $266,000 and nationwide the average price for a single-family home is just over $157,000. Home prices nationwide were distorted a little bit due to the large supply of foreclosures and short sales that are still on the market but, as the economy improves realtors are expecting that there will be less Florida short sales or foreclosures nationwide in the coming months and this means even better news for the nationwide real estate market.
Dr. John Tuccillo, chief economist for Florida Realtors feels bullish about the future of the real estate market in Florida and thinks that thanks to the encouraging news that Florida realtors have received recently like the increase in sales prices for condos and family homes in Florida plus more buyers considering expensive properties the future of the Florida real estate market looks bright and the tough times that Florida realtors will soon be a thing of the past.
Overall, the CoreLogic report found that home prices increased by 8.3 percent when comparing December 2012 to December 2011. These figures represent the greatest gain in home prices since May 2006. Furthermore, every state but Delaware, Illinois, New Jersey and Pennsylvania posted a price increase during this same time period.
Real Estate Agent Kevin Koitz of The Koitz Group points out, “When comparing month-to-month statistics, the CoreLogic report found that prices increased by 0.4 percent when comparing December to November. This increase represents the tenth consecutive month when prices have increased. When excluding foreclosures and short sales, which are typically sold at well below market price, housing prices increased by 0.9 percent when comparing month-over-month statistics.”
The top five houses in terms of rising prices included:
• Arizona – a 20 percent increase in housing prices
• Nevada – a 15.3 percent increase in housing prices
• Idaho – a 14.6 percent increase in housing prices
• California – a 12.6 percent increase in housing prices
• Hawaii – a 12.5 percent increase in housing prices
CoreLogic further predicts that housing prices will increase by 7.9 percent when comparing January 2013 figures to January of the previous year. While month over month prices are likely to decline by one percent due to the seasonal winter slowdown, the general trend toward increased prices is expected to continue.
About the Author – Ray Nemec is a Realtor who writes for therealtyjournal.com in his spare time.
We get quite a few requests for new construction in our area. So much of Pinellas County is already built out that it is hard to help buyers who prefer a new home as opposed to an older home. While there are quite a few new construction projects going on in Hillsborough County many of them are so far away from the beaches that people are not really all that interested in them.
The MLS is reporting that there are 174 properties with a new build date of 2012 in Pasco County. The majority of these are in Land O Lakes, Odessa, and Wesley Chapel. Some of the most popular subdivisions are: Alsace, Devonwood, Enclave at Terra Bella, and Stonegate in Land O Lakes, Seven Oaks, Watergrass and Windsor at Meadow Pointe in Wesley Chapel and Grey Hawk in Odessa.
If you are looking for a new construction property in Pasco County, we are able to help you. Just let us know what your requirements are and we are ready to go new home shopping with you!
In 2011 the sales statistics for the Lansbrook community were a little weaker than in the 2010, but not significantly.
total homes sold: 86
average list price: $413,695.00
average days on market: 116
total homes sold: 79
average list price: $398,311.00
average days on the market: 126
As you can see by the figures above, there were less homes sold and the average list price was a little lower. It also took a little longer to sell a home. There are many factors that can come into play here. One is that banks have become much stricter on whom they lend money to, and their underwriting process can take a little longer. Also, many people have to sell a home prior to purchasing another home, especially in a higher end neighborhood such as Lansbrook. If it was difficult for them to sell their current home in another area, this may have delayed the closing date of the home they were purchasing in Lansbrook. Another reason to consider is that people are not desperate to sell their home and they are waiting for a good offer to come through. In a buyers market such as 2011, buyers will often throw out a lowball offer. A seller who has time on their side, can wait for the right buyer who is willing to offer a fair price for a quality home and neighborhood.
One other thing to consider if you are buying in Lansbrook, is that many people are staying in their homes longer choosing to remodel instead of sell. I have spoken with a number of contractors, painters and pool/paver companies that have said their business has significantly picked up in nicer neighborhoods such as Lansbrook over the past few years. This is because people have decided to stay in their homes and put money into them to increase their value. This is good news for residents of this community. When people take care of and maintain their homes, they increase the value for the entire neighborhood! So just because people aren’t selling their homes as much as recent years this does not mean that living in Lansbrook is any less of an excellent investment. It shows that people are remaining in a thriving community.
Since this article is being written in 2012 which can report that 2012 is already looking like a great year for the Lansbrook community as well as many other East Lake subdivisions. Home prices have started to go up, and they are not on the market for long before they are under contract. We have many buyers who have called to see a home they drove by, only to find out that it is already under contract. A good home is being swept up fast! If you are thinking of buying or selling in Lansbrook please contact us for more information.
If you would like to review the individual Lansbrook subdivision sales figures for 2011 please visit our website at www.lansbrook-real-estate.com.
by Bob Lipply, Broker / Owner
Lipply Real Estate
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Build your dream home on this secluded 4.2 acre property on Lake Reinheimer located just minutes from both Dale Mabry and US-41. Enjoy the sunset over the beautiful tree lined view across the lake. Tree line view to the west borders the Idlewild Baptist Church property — a great neighbor to have. For those who want a quiet lakefront setting within close proximity of the city with easy access to shopping, US 41, Dale Mabry, and the Veterans/Suncoast Expressways, this property is for you. 2Rt Simmons Rd also has a street address of 1025 Friendship Lane. 3.7 acres buildable. Possibility to subdivide. Survey Available. No Deed Restrictions or HOA.
Better than new! Completely remediated drywall home with all new hardwood flooring, paint, Trane AC systems, etc. Stone counter tops, stainless appliances, beautiful wood cabinets, open floor plan. Wonderful community.
Charming 4 bedroom, 2 bath in a mature, established Dunedin community. Close to he beaches, Historic Downtown Dunedin, restaurants and the mall. Great split floorplan with formal living and dining rooms. Wonderful brick woodburning fireplace adorns the family room, kitchen and dining areas. Bring the family to see this home.
An exquisite and absolutely immaculate custom built former model Leigh home. The extras in this home are too numerous to mention, and it starts off with new exterior paint, excellent curb appeal and in a walled cul-de-sac community. This beautiful open floor home features 4 bedrooms, 3.5 baths, complete with separate office – it is truly a must see home. Upon entering the home, the openness will quickly capture your attention as it boasts a beautiful great/family room with its tastefully designed tray ceiling, a built-in entertainment center, leading to an impressive view of the pool. The open captivating gourmet kitchen has dual level breakfast bars, solid wood cabinets, built-in wine rack, beautiful zodiac engineer counter tops, gas and electric ovens, and of course top of the line stainless steel appliances. There are 2 A/C’s with multiple zones to control the temperature as you please. Even the garage can be air-conditioned at owner’s discretion, and the garage doors have hurricane reinforcement built-in straps for extra security. A new gas water heater has just been installed. Walk out to your screened enclosed paver pool / spa area from any of the rooms through double doors not sliders, including the mother-in-law suite that has its own entrance. Home is centrally located in Palm Harbor, known for its excellent school system, minutes from the gulf beaches, biking distance to Pinellas Trail, parks, and restaurants. Enjoy the ultimate Florida lifestyle!!