Intro to the Live Oak Preserve community in Tampa Bay

The Live Oaks Preserve community was designed and constructed by the developer, Transeastern, to complement the 100-year-old oak trees in the area. Located in the New Tampa area on 1,300-acres northeast of I-75 Exit 270, bounded by Bruce B. Downs Boulevard and County Line Road, the community features several village-themed developments including Cedarwood, Cypresswood, Laurel Oak, Brentwood, Maplewood, Oakwood and Weatherwood. Over time, eighteen unique villages are planned to lie within the boundaries of Live Oak Preserve.

This spectacular private, gated community offers quiet and tranquil neighborhoods with 362 acres set aside for wetlands and picturesque wildlife, ponds, and conservation area vistas. Located just outside the community gates there is an abundance of restaurants, parks, professional offices, and retail shopping. University of South Florida and Busch Gardens Amusement Park are less than a 15 minute drive away. You also have convenient access to downtown Tampa via I-75 and I-275 with all of its cultural and recreational attractions including the Florida Aquarium, historic Ybor City and the Tampa International Airport just a 30 minute drive away. Disney World and Universal & MGM Studios are about an hour's drive to the East. And, the beaches of the Gulf of Mexico are less than 30 miles to the west.


The community is highlighted with multiple single family home villages and a town home village with traditional Florida charm and natural splendor in varying price ranges. There is a multi-million dollar clubhouse at the center of the community which includes a 10,000 square foot, resort-style pool, fully equipped fitness center, children’s playground, as well as tennis and basketball courts. All of Live Oak Preserver's villages, parks and schools are connected by private roads and wide winding sidewalks perfect for either active exercising or just a leisurely stroll.

You deserve the best possible representation on the largest investment you may ever make, your new home in Tampa Bay Florida. I would be happy to introduce you to the many amenities of Live Oak Preserve and other communities and homes for sale throughout Tampa and Tampa Bay.

I invite you to request my free Tampa Information Package including information on Live Oak Preserve and other communities or E-Mail Me. For more immediate assistance call me at any time at 813-263-6806.

What are the Differences Among Foreclosures, Bank Owned and Short Sale Properties

What are the differences among Foreclosures, Bank Owned and Short Sale properties you may see listed for sale? The differences are substantial and you should not underestimate the effort involved in bying a home under any of these processes.

Since I am frequently asked by prospective buyers the difference among these three different approaches to buying a home, I'll try here to answer that question as briefly as possible here.

Foreclosure Properties are property sold via an auction process. A foreclosure auction sale begins with a minimum bid that includes the loan balance, any accrued interest, plus attorney's fees and any costs associated with the foreclosure process. To bid at a foreclosure auction, you must have a cashier's check in your hand for the full amount of your bid. If you are the successful bidder, you receive the property in "as is" condition, which may include someone still residing in the property. There may also be other liens against the property. Since what is owed to the mortgage holder is almost always more than what the property is worth, very few foreclosure auctions result in a successful sale. Then the property "reverts" to the bank. It becomes an REO, or "real estate owned, REO or bank-owned property.

Bank Owned Properties are properties that have already gone through the foreclosure process without a successful bid being received and are now owned solely by the bank or other mortgage holder. The bank will handle the eviction of any people living in the property, if necessary, they and may or may not do any repairs. They most generally want to sell the property "as is" although that may be negotiable. The bank will also negotiate with the appropriate authorities to remove any tax liens and pay off any homeowner's association fees that are due. As the buyer of a bank-owned property, the buyer will receive a title insurance policy and the opportunity to investigate the property. The buyer's offer will be countered by the bank and it is typical for the buyer to re-counter that counteroffer.

Short Sales Properties are those homes that are still legally owned by the homeowner but the property is being listed for sale at a price that is less than the amount owed on the mortgage. Since both the seller and the mortgage holder are involved, once the seller accepts an offer, it must be submitted to the mortgage holder, who will frequently attempt to get a higher price before allowing the deal can be consummated. A home or condominium offered as a short sale may or may not already be in the foreclosure process. Short sale properties are generally sold "as is" with no allowance for inspections. The buyer may do any inspections they wish at their own expense but it is unlikely that the bank will agree to cover the cost of any deficiencies found during the inspection.

If the bank believes it can receive a higher price by taking the property through the foreclosure process, they will hold out for a higher price than the advertised short sale price and closer to what they believe to be the property's market value. Lenders generally accept short sales only when the price of the home is close to its market value. It is generally not the case that a buyer gets a significantly better deal on a short sale than on a typical purchase transaction, And, this process can take 90 - 120 days or even more.

The assistance of a professional Tampa Bay Realtor knowledgeable in the purchase of "distressed properties" will make buying a home as a short sale, at a foreclosure auction or as a bank-owned property a simpler, although surely not a trivial process. You should not attempt to procure a home by any of these three routes without the assistance of an experienced and knowledgeable professional like Cheryl Stimac, a Tampa Bay real estate expert trained and experienced at executing home purchases under these processes. Cheryl has earned the Certified Distressed Property Expert (CDPE) designation, having completed extensive training in foreclosure avoidance and short sales.

You may also want to read my earlier post on Foreclosures and Short Sales

Introducing Temple Terrace

Home of the Temple Terrace Golf and Country Club

The community of Temple Terrace is an incorporated city in northeastern Hillsborough County, adjacent to Tampa. The city is the third, and smallest of the three incorporated municipalities in Hillsborough County. The other two are Plant City and Tampa.

Named for the hybrid "Temple" oranges and the surrounding "terraced" terrain, Temple Terrace was incorporated in 1925 and is known for its rolling landscape, bucolic Hillsborough River views, and majestic live oak trees.

The community is located adjacent to the University of South Florida campus and is, therefore, an ideal location for USF faculty as well as under-graduate and graduate students. The city has a population of about 24,000 and the median household income of Temple Terrace residents in 2008 was just over $54,000.

Temple Terrace was one of the first planned golf course communities in the United States when it was laid out in the mid-1920's with the expectation of it being both a golf course community and the home of the largest orange grove in the world. The 1920 vision of the community's founders was that wealthy retired Northerners would purchase lots in Temple Terrace, build a Mediterranean Revival villa as well as a parcel in the adjoining citrus grove to manage as a hobby or for extra income.


In 1925, the Temple Terrace Golf and Country Club, which is still in existence, hosted the first ever "Florida Open." The most distinguishing characteristic of the 18-hole, 6,414 yard private Temple Terrace Golf Course is the large, mature trees line which most of the fairways forcing golfers to hit straight shots, or suffer the consequences.

Downtown Tampa with all of its cultural and recreational attractions, the Florida Aquarium, historic Ybor City and the Tampa International Airport are within easy driving distance. Disney World and Universal & MGM Studios entertainment centers are about an hour's drive to the East while the white-sand and warm water of the St Petersburg/Clearwater area are about an hour’s drive to the West.

Temple Terrace offers a wide variety of housing opportunities. There are newer Temple Terrace homes for sale as well as established neighborhoods with both upscale and moderately-priced homes, condos and apartments. Some home sites abut the Temple Terrace golf course. Others back to the scenic Hillsborough River as it wanders through the town. Homes in Temple Terrace range from less than $100,000 to well over $1 million.

I would be delighted to show you new and resale homes in Temple Terrace or anywhere in Tampa Bay Florida at a time convenient for you. I invite you to request my free Tampa Florida real estate information package, E-Mail Me or call me at 813-263-6806 at any time.

The Federal Home Buyer Tax Credit is About to Expire

It's Time to Get Moving before It's Too Late

The first-time home buyer tax credit program which was extended and expanded to include existing homeowners expires on April 30th.

So, if you've been delaying a decision on buying a home or condo in the Tampa Bay Florida real estate market, it's time to contact a competent Realtor® TODAY and get a home purchase contract signed right away or you're going to miss out on the opportunity to gain up to a $8,000 income tax credit if you're a first-time buyer or up to $6,500 if you're currently a homeowner.

And don't forget that, in addition to the requirement to have a home purchase under contract (that means signed by both the buyer and the seller) by April 30, you must also close on the sale on or before June 30, 2010.

Who qualifies as a "first-time buyer" for up to an $8,000 credit?
The law defines a “first-time home buyer” as one who has not owned a principal residence during the 3-year period prior to the purchase. For married taxpayers, the law tests the home ownership history of both the home buyer and his/her spouse.

If, for example, you have not owned a home in the past 3 years but your spouse has owned a principal residence, neither you nor your spouse qualifies for the tax credit. However, there are exceptions. As an example, there is a possibility for unmarried joint purchasers to allocate the credit amount to any buyer who qualifies as a first-time buyer, such as if a parent jointly purchases a home with child. There are also rules about ownership of vacation or rental properties not used as a principal residence.

How is the amount of the first-time buyer tax credit determined?
The tax credit is equal to 10 percent of the home’s purchase price up to a maximum of $8,000 but there are income limits.

So, you need to speak with a competent Tampa Bay Realtor to see if you do qualify.

Who qualifies as a existing homeowner buyer for up to the $6,500 credit?
The law defines a tax credit-qualified existing or "move-up" home buyer as a person who has owned and resided in the same home for at least five consecutive years of the eight years prior to the purchase date of the new home. For married taxpayers, the law tests the home ownership history of both the home buyer and his or her spouse. That is, both spouses must qualify as long-time residents, with at least five years of principal residency for each. They do not, however, have to purchase a home that is more expensive than their previous home to qualify for the tax credit.

How is the amount of the existing homeowner tax credit determined?
The tax credit is equal to 10% of the home’s purchase price up to a maximum of $6,500. Purchases of homes priced above $800,000 are not eligible for the tax credit. And, yes, there are income limitations. If your income is above the limit, you may still qualify for a partial credit.

It is very easy to become confused with the provisions of this law. Don't miss out on an opportunity that may not come again for a long. So, speak with a competent Tampa Bay real estate expert like Cheryl Stimac right now to see if you do qualify.

Aa a Realtor experienced in dealing with these types of situations, Cheryl Stimac can tell you after just a brief conversation whether or not you may qualify. But time is short so its definitely "Time to Get Moving."

Welcome to Hunter's Green

Hunter’s Green is a meticulously developed master planned community in Tampa, Florida. In Hunter's Green, you'll find everything you might ever need or want to enjoy a comfortable, convenient, and tranquil lifestyle.

Hunter's Green is located 1 mile north of the I-75 exit at Bruce B. Downs Boulevard in the area known as New Tampa and includes 23 subdivisions.

Beyond the gated entrance, you'll find a private, unspoiled world; a natural environment where over half of its nearly 1,400 acres have been reserved for conservation and recreation. Shimmering lakes, peaceful parks, and nature preserves including a feeding area for the protected woodstork and gopher tortoise are just a few of its natural highlights.

The second thing you'll notice is the Hunter's Green County Club with its 35,000 square foot elegant, yet casual, clubhouse and its Tom Fazio-designed championship 18-hole, 6,900 yard golf course designed with a strong emphasis on environmental integrity.

Hunter's Green Country Club was planned and designed as three private clubs in one: the traditional 18-hole golf course club, a premier tennis, athletic and swim club, and an outstanding dining and social club. The clubhouse is the plush center of Hunter's Green social activity. First-class dining, a cocktail lounge and private banquet and conference rooms make it the perfect place to entertain friends, family and business associates, yet the club prides itself on its relaxed atmosphere and family amenities.

Central to the club's activities is the sports center which includes a state-of-the-art fitness center, group exercise and indoor cycling studios, 17 lighted har-Tru tennis courts, a basketball court, two 4-wall racquetball courts, a sand volleyball court. a heated junior Olympic swimming pool, a children's playroom, a youth activities building, men's & ladies' locker rooms and a pro shop.

Of interest to those with young children, Hunter's Green Elementary school has earned a reputation of academic excellence and supportive community partnerships. Standardized test scores traditionally place Hunter's Green Elemenetary students in the upper 10% of Hillsborough County schools. The teaching faulty is dedicated to continuing this level of excellence and developing programs to meet the needs of every student.

Hunter's Green is the first major community in Florida to be designated a Florida Quality Development for its adherence to strict environmental and planning guidelines and has become a prototype for residential communities around the country. The community has won numerous national and local awards, including the Aurora Award for the Top Master-Planned Community in the Southeast and the ENVY Environmental Award from the Florida Association of Realtors for the residential development that most celebrates Florida's natural quality of life.

While there are other master planned communities in Tampa Bay, Florida, residents feel confident that there are none quite as nice and quite as complete as Hunter's Green. Here you'll find a country club lifestyle perfectly suited for both the accomplished professional, retirees and young families.

Consider Wesley Chapel for Your New Home

Many people have moved into Tampa Bay Florida over the past couple decades yearning for the warmer climate and lower cost-of-living offered by Florida. As metropolitan Tampa and Hillsborough County have expanded, more and more people are finding it more convenient and pleasant to live just over the border into Pasco County in the town of Wesley Chapel.

Wesley Chapel's location has helped spur its growth. It is bordered on the south by the city of Tampa, on the east by Zephyrhills, and on the west by Land O'Lakes. To the north are the smaller communities of San Antonio and St. Leo, and Dade City, the county seat. Wesley Chapel's proximity to Interstates 75 and I-275 provides convenient access to other Tampa Bay communities, the Gulf beaches, and the Central Florida/Orlando tourist attractions.

Wesley Chapel has evolved from its early days, when cash crop farming, logging, citrus and cattle ranching were the principal activities. Today, it is a haven for residents who want the benefits of the big city and the bay area without being directly in the center of it. Wesley Chapel has established itself as an extremely desirable place to live, work, shop and play.

With about 45,000 residents today, Wesley Chapel offers a wide range of home choices from custom homes and single family homes to condos and townhomes. Saddlebrook is a stand-out Wesley Chapel community on 480 acres of wildlife, two 18-hole golf courses, tennis and a heated community pool as well as a health club, three restaurants and two bars.

Seven Oaks, Quail Hollow, Lexington Oaks, Meadow Pointe and Chapel Pines are among the many other communities offering homes from the modest single-family homes to executive mansions. Pasco County tax rates are reasonable, offering another incentive for prospective home buyers to settle here rather than within Hillsborough County.

For children, the school system features seven different schools (two private): Saddlebrook Preparatory, Sand Pine Elementary, Wesley Chapel Elementary, Seven Oaks Elementary, Victorious Life Academy, Weightman Middle School, and Wesley Chapel High School.

Right in Wesley Chapel residents have major shopping centers, a multiplex movie theater, and many casual and fine dining establishments. The community even has its own private airport, the Tampa North Flight Center, convenient for those traveling by private plane. The 143-acre District Park is the pride of the community for recreation.

A new hospital has been approved to be built in Wesley Chapel. The 52-acre campus will include office buildings and an 80-bed hospital. Nearby in Tampa, several health-care facilities including the Moffitt Cancer Center, University Community Hospital and the St. Joseph’s Women’s Hospital assure that every possible medical need can be addressed locally.

Residents of Wesley Chapel also enjoy professional sports with the Tampa Bay Buccaneers (the 2002 World Champions), Tampa Bay Lightning (the 2004 Stanley Cup Winners), and the Tampa Bay Rays (the 2008 American League Champions) all playing in venues just a short drive away. Tampa's Busch Gardens, the Florida Aquarium, Lowry Park Zoo, the Tampa Bay Performing Arts Center, Tampa International Airport, and the bustling Channelside and Ybor City areas of Tampa are all within a 30-45 minute ride.

Amid the natural beauty of west-central Florida, Wesley Chapel offers prospective residents both the opportunity to enjoy a more suburban lifestyle yet with easy access to the major-city arts, cultural and sporting venues in Tampa right next door.

January, 2010 Home Sales Volume Increase

In January, 2010, 1,830 homes were sold in the Tampa Bay area which includes Hillsborough, Pasco and Pinellas Counties. This compares with the 1,628 homes sold during January of 2009. The average price of homes sold was about $161,500 while the median price (the point at which half the homes sold above and half sold below that level) declined slightly to $123,000.

This positive news is at least in part due to the extension of the Federal Home Buyer Tax Credit Program which offers up to $8,000.00 to first time buyers (or buyers who haven't owned a home in the last 3 years) and up to $6,500.00 to those who already own a home. Owners who currently own a home must have lived in their current home for 5 consecutive years over the past 8 years. Certain income limits do apply so you may want to contact me at (813) 263-6806 for those details.

Most real estate professionals believe we are either at the bottom of the market or close enough to it that this is the right time to take advantage of both the low prices and the tax-credit program. Buyers seem anxious to snatch up good deals now since all deals under this program must be under contract by April 30th and closed by June 30th, 2010.

The inventory of unsold homes on the market has been reduced to it's lowest level in several years with a 24% decrease in the number of homes for sale from January 2009 to January 2010.

Whether your interest is in a home or a condo, a newly-built home or an existing home or a bank-owned or short sale property, I can help you find exactly the right property for you and your family. E-Mail Me or call me at (813) 263-6806 today. I would be pleased to answer your questions and show you the many great bargains available right now here in Tampa Bay.

The Gasparilla Invasion of Tampa is Imminent

On Saturday, January 30th, the world’s only fully-rigged pirate ship, the Jose Gasparilla, will magically appear at the south end of Hillsborough Bay. A multitude of pleasure crafts, all determined to defend the city, will boldly sail forth to meet the ship. But upon quickly seeing the error of their ways, they will join forces with the Captain and his Krewe’s flotilla. The tall-masted a 165' long Jose Gasparilla pirate ship with cannons booming will then sail across Hillsborough Bay and and attack the defenseless city of Tampa.

The colorful Tampa Bay "Gasparilla Invasion" will have begun.

In this annual re-enactment of Tampa’s historic pirate invasion, the Gasparilla Flotilla, led by the pirate ship Jose Gasparilla will dock at the Tampa Convention Center where the Mayor will surrender the Key to the City of Tampa into the hands of the Captain of Ye Mystic Krewe of Gasparilla.

Shortly thereafter, the jolly Krewe will launch a victory celebration in the "Parade of the Pirates" down beautiful Bayshore Boulevard. During the lavish parade, the captain and krewes will toss beads, coins and other items from their floats while shooting blank pistols as they proceed along bayshore Boulevard.

Average attendance for the parade event exceeds 400,000, so if you plan to attend go early to find a parking space, or better yet, take advantage of the many alternative ways to get to the event.

A week before the "Invasion" and the main parade, Ye Mystic Krewe of Gasparilla sponsors a family-oriented Children's Parade and "Piratechnic Extravaganza," with fireworks over Tampa Bay..

Shortly after the invasion celebration, a more adults-oriented Sant'Yago Knight Parade is held in the Ybor City district of Tampa running well into the early morning.

The annual Gasparilla celebration is just one of the many high-spirited events that make Tampa Florida amd its suburbs in Hillsborough, Pasco and Pinellas counties such fun places for families of all ages to live.

Another popular Tampa celebration is "Guavaween," held at the end of October. During the day, the family Fun Fest features live music, food, activities, and a children's costume contest. Other Tampa events include the annual Climb Tampa event, Race for Sight, the Gasparilla Distance Classic Marathon, the Bloom & Garden Festival and the USF Botanical Gardens Spring Plant Festival. There is an also almost constant flow of arts and cultural performances and events, many free to the public.

If you'd like to learn more about why Tampa and Tampa Bay may be just right for your next home, E-Mail Me or call me directly at 813-263-6806.