Open House – 100 Deerpath Ct, Oldsmar FL
November 14, 2008
East Lake Woodlands Charmer- close to Golf/Country Club in the secluded Deerpath Gated Community.
When: Sunday November 16, 2008
Time: 1:00 to 4:00 PM
How to get There:
Live Search Maps
Want more information or details on the home ?
Contact the Future Home Team at Greater Tampa Bay Real Estate Today -
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Exisiting home sales bottom still elusive
April 22, 2008
NAR released their March 2008 report and the picture is still not very pretty.
Resale homes continued to drop and now stand at 19.3 percent off of March 2007 numbers. In addition, the media resale home price continued it’s spiral and fell another 7.7 percent compared to the same month in 2007. The median price in 2007 was $217,400. and as of March 31, 2008 it now stands at $200,700.
According to NAR “Regionally, sales rose in the Northeast and West but fell in the Midwest and South.”
So how does the picture differ her in the Tampa Real Estate Market ?
Well according to recent report by the West Pasco Board of Realtors, the Pasco County market has actually had two very good months back to back that prove while the bottom is still elusive in most places it appears to be settling some in other areas. It does appear that their is still more room for prices to drop before the national average stabilizes though.
What is interesting in the Pasco County scenario is that a Florida Economist “Hank” Fishkind, had predicted that areas within the Tampa Bay would recover before others in the state. It may be a bit optimistic at this point to say he his right only more time will tell.
If you are a regular reader to this Blog, then you might recall this post back in February “Florida’s indifferent real estate market in Tampa…huh ? The significance of this post is the comments made by Mr. Fishkind, with specific reference to Pasco County Real Estate he said”
1. HOME SALES: Pasco and Hernando counties’ housing markets have hit bottom and are most likely to start the the turn around ?.this will be seen later in the year. Hillsborough County is close to the bottom, but Pinellas County has a few more months in this downturn before home sales and prices will stabilize.
You can down-load a copy of Dr. Hank Fishkinds Power Point report in PDF format entitled **Economic Outlook U.S. and Tampa Bay/Bay Area Real Estate Council
.
** Be sure to check out pages 28 to 63 of the PDF for Tampa Counties (158 to 197 as listed on the lower right corner of the presentation).
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1 in 3 Home Owners with Negative Equity according to Zillow
Home Equity Credit – is it crunch time?
March 18, 2008
It?s no wonder that home buyers sit on the fence and wonder when the right time to buy will arrive? Since the the mass confusion in the markets continues and the various media outlets can?t seem to come together on what?s really up anymore.
Here’s a perfect example of Florida Real Estate as compared to other states :
In this weekends local St. Pete Times Finance section, I read an article that discussed the facts, that some home owners were finding out that the falling values of their homes were effecting previously issued home equity lines of credit. This column-article by Helen Huntly lists several local citizens as point of reference.
What?s interesting in this story, is that one of the individuals used as a source doesn’t come clean and tell the Times that their are umm issues with that owned property, that would make anyone understand why the bank said NO.
St. Pete times should vet comments or sources a little bit more prior to printing articles using outside sources.
Ok even so ?..this seems plausible given the current economic climate we are in. But then today I read an online article on the Wall Street Journal touting how a Home Equity line of Credit could be your safety net ?
The last line in that article is kind of interesting to say the least ?And you won’t be penalized if you never tap your home-equity credit line.?
So what?s your experience, is this happening as much as the Times says it is here in the Greater Tampa Bay?
What about the WSJ article?good idea or bad ?
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DOT HOMES submits to US Real Estate BROKERS – dont worry – be happy !!
March 10, 2008
Earlier today I received the following from DOT HOMES:
New pingback on your post #117 “MLS Data compliance and NAR vs. DOJ “
Website: BYTEPLAY ? Blog Archive ? For US listing brokers (IP: 195.62.28.205 , www.ec1m.net)
URI : http://www.byteplay.com/blog/archives/57
Excerpt:
[...] [...] some of the ensuing controversy (Lenderama, CBS5.com, InmanNews, GreaterTampaBayRealEstate), I?m going to attempt here a crude recap of my conversation with Kevin. If you?ve any [...] [...]
This is related to an earlier post I made regarding the DOJ’s lawsuit against Realtor.com and the issue over MLS (Multiple Listing Service). It appears that the presence of this new venture on the scene in the Real Estate Search community, had ruffled some feathers of a few of the Top Real Estate Brokers (BLOGGERS). Some suggested that what Dot Homes was doing may not be entirely legitimate or in compliance with MLS regulations.Seems that this answer is right on the money: After you have clicked on the link above you will also see my reply:
“I think this is an excellent review of Dot Homes capabilities as well as highlighting the short sidedness of many Brokers in the Real Estate industry today. I don?t think you can explain it any clearer than this. This is a tool that Brokers should welcome with open arms?especially given the current economic climate.
Also, keep in mind that there are well over 150 MLS associations in the U.S. alone, that all have their own version of what constitutes compliance. This entire MLS issue is so overblown and in many opinions has been the major issue that has suppressed innovation and competition in our industry. Why else is the US DOJ going after Realtor.Com with such vigor? Could it be that they represent monopolistic tendencies when it comes to the MLS ? Going forward, I think this kind of makes Kevin?s entire comment on the MLS issue kind of baseless. ”
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Florida’s indifferent real estate market in Tampa…huh ?
February 9, 2008
ep, it?s that time again. The NAR Real Estate forecast report was released on Thursday February 7th. As is usual with NAR?s chief economist, Lawrence Yun, he mixes it up to the point you just have to say ?huh ?
The title of the report itself really sets it up. ?Existing-Home Sales to Hold in Narrow Range, then Begin Upward Trend??huh ?
This is the summary of the report by NAR: Soft market conditions are forecast to continue for existing-home sales in the months ahead, with improvement expected by the second half of this year if loan limits are increased?.. huh ?
Current housing conditions vary widely? huh ?
You can review the report your self from the link above but from all accounts they are saying the market is so, so?.which according to the dictionary I checked means it?s an indifferent market?huh ?
Well now that I have dispensed with the things that make you go huh ?
The real meat and potatoes came out about (2) days earlier from a local source that I find a bit more reliable or credible, however you like to portray the data, NAR does not really have a great track record of getting to the issue at heart without um..making you say huh ? OK I promise no more. Anyhow, the source of the data is an economic and financial consulting firm based here in Florida called FISHKIND and associates. At least as it pertains to Florida?s economic forecast they have the data to back up what they talk about. Dr. Hank Fishkind is often referred to in the Florida media as ?Florida’s best known economist ?. Dr. Fishkind presented his report to the Bay Area Real Estate Council on February 5th, 2008
Since our business is all about Florida?s Tampa Bay Area, hence Greater Tampa Bay Area Real Estate, we were really pleased to see that the reporting data shows that a good portion of the Tampa markets may have hit bottom and are ready for the turnaround to begin.
A few of the highlights of Hank Fishkinds February 5 meeting are:
1. HOME SALES: Pasco and Hernando counties’ housing markets have hit bottom and are most likely to start the the turn around ?.this will be seen later in the year. Hillsborough County is close to the bottom, but Pinellas County has a few more months in this downturn before home sales and prices will stabilize.
2. FORECLOSURES: While bad in certain neighborhoods, Dr. Fishkind thinks foreclosures have received way more press than they deserve. Measured against the total housing market here, they’re a “thimble in the ocean.”
3. AMENDMENT 1 PROPERTY TAX CUTS: Don’t expect any noticeable stimulus from tax cuts this year. We won’t get a tax break until next year. Plus people are still having difficulty selling their houses, making the portability issue a moot point.
4. CONDO CRISIS: Dr. Fishkind was not too high on condos in Pinellas and Hillsborough counties. He said oversupply, combined with limited sales, “makes me nervous.” He sees no bottom yet here.
5. MORTGAGE RATES: Good news here. Dr. Fishkind expects home loan rates for credit worthy borrowers to continue to drop to below 5 percent this year. If you have equity left in your home , it will be a good time to refinance.
You can down-load a copy of Dr. Hank Fishkinds Power Point report in PDF format entitled **Economic Outlook U.S. and Tampa Bay/Bay Area Real Estate Council.
** Be sure to check out pages 28 to 63 of the PDF for Tampa Counties (158 to 197 as listed on the lower right corner of the presentation).
Dr. Fishkind also spoke on local Orlando Radio station with regards to the Amendment 1 Property Tax cuts. You can access the audio by clicking in this link >> Click here to listen to story.. (You don?t need an ipod to listen. If you have a PC with Windows Media Player installed ?..no problem.)
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