That Pesky "Heath Care Issue" in Choosing a Retirement Destination

As people consider where to move as they approach retirement age, and are looking for a warmer climate, one of the things I most often hear discussed is the availability of good health care facilities. This article will review just briefly the wide variety and the excellence of the health care facilities available to you in Tampa and Tampa Bay Florida.

For starters, Tampa is blessed with two great hospitals right within the city of Tampa, itself. The 1,018 bed Tampa General Hospital in downtown Tampa is one of the largest hospitals in Florida. Tampa General (TGH) is affiliated with the University of South Florida - College of Medicine. In addition, there is Tampa Memorial Hospital, a 183-bed, state-of-the-art hospital also in downtown Tampa.

In addition as you move into suburban areas, Florida Hospital – Tampa Bay Division operates 6 separate facilities located strategically around the Hillsborough, Pinellas and Pasco County. Florida Hospital – Tampa and the Pepin Heart Institute are on Fletcher Avenue in Tampa and the Florida Hospital – Carrollwood serving the northwestern suburbs of Tampa and Hillsborough County is located on North Dale Mabry Highway. For more suburban areas, Florida Hospital operates a 154 bed hospital in Zephyrhills in Pasco County. The Florida Hospital - Long Term Acute Care unit is located in Land O’ Lakes.

Finally, there is the Moffitt Cancer Center & Research Institute, which achieved its National Cancer Institute (NCI) designation in 1998, located in north Tampa on the campus of the University of South Florida. Cancer research at Moffitt includes more than 135 investigators organized around six scientific programs. The Moffit Cancer Center has rapidly become well-known for its expertise and sensitivity in handling the wide array of physical, spiritual or emotional needs of its patients.

Across Tampa Bay in Pinellas County, there are several more well-regarded hospitals and health care facilities including St Petersburg General, St Anthonys Hospital and All Children's Hospital in St Petersburg, Morton Plant Hospital in Clearwater, Mease Hospital in Dunedin and the Helen Ellis Memorial Hospital in Tarpon Springs among others.

As one considers the many factors that lead to a decision on where to live during your retirement years, health care, while a very important factor, isn’t the only reason why people move to Tampa Bay Florida.

Tampa is the "heart" of Tampa Bay. The warm, sunny climate and bright blue skies, the low cost of living and a wide variety of activities and events that go on almost constantly in Tampa make it an ideal location for young families and retirees alike. The average year-round temperature of 72°, a refreshing 60° in January and a warm average of 82° in August make living here delightful.

The almost-always pleasant weather fosters a lifestyle which includes lots of “outdoor living” activities. The Hillsborough River, which meanders for 56 miles, offers endless activities including canoeing, fishing, camping and hiking. There are almost 200 parks, 136 picnic areas and 80 playgrounds in Tampa and its surrounding communities. For the athletic among us, there are swimming pools, tennis and racquet ball courts, golf courses and playing fields. For those more into spectating, there are professional baseball, hockey, football and arena football teams, including the Super Bowl winning Tampa Bay Buccaneers and the Spring training camp for the New York Yankees. Tampa Bay is home to all sorts of boating and sailing opportunities, and the gorgeous Gulf Coast beaches in Clearwater and St Petersburg are no more than 30 to 45 minutes away from anywhere in Tampa Bay.

Lowry Park Zoo entertains seniors and young families alike. The Florida Aquarium is a unique and exciting place for visitors of all ages. Art, music, dance and theater devotees find a wealth of galleries and museums such as the Tampa Museum of Art, Museum of Science & Industry and USF's Contemporary Art Museum. There are Broadway plays, operas and dance recitals that excite thousands of patrons in community theaters as well as at the Tampa Bay Performing Arts Center. Housing in Tampa and throughout Tampa Bay is abundant and affordable.

Throughout Tampa and Tampa Bay, there are single-family homes, patio homes, townhomes and condominiums from the most luxurious to the most affordable from in-town and waterfront high-rise condominiums to suburban golf course communities and retirement communities.

Regardless of all the other amenities, as you approach your senior years, there is still that “health care issue” to consider. You can rest assured, if that is a concern in your choice of where to retire, the health care facilities of Tampa Florida will meet your every need and assuage any concern you may have had.

I'd be pleased to help you find that one home, townhome or condominium in a traditional neighborhood, a downtown high-rise, or a retirement community of patio homes and villas here in Tampa Bay that fits your needs and desires perfectly.

If you'd care to comment on this article or any other facet of Tampa Bay living, please E-Mail Me or visit my Tampa real estate website. For a more immediate response, call me directly at 813-263-6806.

Tampa Home Sales Remained Strong through the Normally Slow Summer Months

Despite the trend downward that normally occurs as our snowbird friends head back up North, the Tampa and Tampa Bay real estate markets have remained strong right through the summer months this year. Why should this interest you ?   Tampa Bay is a wonderful place to live whether you are a young professional, a family raising kids or retirees, Tampa offers you clean air, good schools, excellent health care and a year-round warm, sunny climate as well as easy access to some of the best beaches in the country.  In addition, you'll find endless recreational activities including boating and fishing on both Tampa Bay and the Gulf of Mexico and, of course, golf plus family-oriented amenities like the Florida Aquarium, Lowery Park Zoo, the Museum of Science and Industry and Busch Gardens. Homes are continuing to sell at a rapid pace.  July, 2012 alone, there were 1,971 closed property sales (1,519 single-family homes and 452 townhomes and condos), 9.2% more than in the same month in 2011. Pending sales (properties under sales contract, but not yet closed) rose in July to 2,279,  24% above the level at this point last year.  “The Tampa real estate market remains one of the bright spots in Florida and the nation,” said noted Tampa Realtor, Cheryl Stimac.   “The second quarter of 2012 was better than we expected and significantly ahead of the pace last year," she added. Asesult of the increased sales, median sale prices are also rising. The median sale price of single-family homes in July was $145,000, a $10,000 increase over this point in 2011.  Townhomes and condos showed an even larger year-over-year median price increase rising from $72,000 last year to $91,000 this July.  Part of the reason for this is that the number of distressed property sales (foreclosures and short sales) is at the lowest level in years. There simply aren't many distressed property single-family homes left on the Tampa real estate market at this point. The available inventory of single-family homes on the Tampa real estate market dropped to a new low of 6,447 versus 9,439 homes available at this point in 2011 and 11,781 homes in 2012 according to statistics published by the Greater Tampa Association of Realtors.  The July figures show only a 4.2 month supply of single-family homes (versus 6.9 months in 2011 and 9.0 months in 2010). The inventory of townhomes and condos dropped again in July to a 3.2 month supply (versus a 5.9 months in 2011 and 9.9 months in 2010.  The lack of inventory at this point, particularly in the lower price ranges is already substantially limiting buyer. “Competition for attractive properties has become noticeable in the past few months,” said Cheryl Stimac, “and that inevitably leads, as we’re seeing already. to increased prices.” If you have been considering buying a home or condo in the Tampa Bay area including Hillsborough and Pasco Counties either for your use today or as your retirement home, you may be on the verge of being "too late to the party." I'd be pleased to help you find that one home, townhome or condo here in Tampa Bay that fits your needs and desires perfectly.   But, hurry, the time to come to the Tampa Bay area and pick out your “Place in the Florida Sunshine” is now. If you'd care to comment on this article or any other facet of Tampa real estate, please E-Mail Me or visit my Tampa real estate website. For a more immediate response, call me directly at 813-263-6806.

 

Tampa Bay Demand for Homes Outstripping Supply with Predictable Result

Across the United States, new construction homes and existing home sales are strengthening and prices are rising, stoking confidence among observers like the National Association of Realtors that a housing recovery is finally underway.  Nationwide, sales of existing homes jumped 10.4% compared with July last year.  In step with the nationwide market, in the Hillsborough and Pasco County areas of Tampa Bay, home sales which normally drop off during the summer months, remained strong in July with 2,275 closings, 10.7% higher than the level a year ago.

Home to championship golf courses, close to the gulf beaches, and with phenomenal weather, Tampa Bay is a magnet for families considering moving to Florida.  The Hillsborough River, stretching 56 miles, offers endless family activities including canoeing, fishing, camping and hiking.  The Florida Aquarium, Busch Gardens Tampa Bay and Lowry Park Zoo entertain thousands of families every day.  For sports enthusiasts, there are professional baseball, hockey, football and arena football teams, including the SuperBowl winning Tampa Bay Buccaneers.

Those seeking art, music, dance and theater find a wealth of galleries and museums such as the Tampa Museum of Art, Museum of Science & Industry and USF's Contemporary Art Museum.  Music lovers can hear everything from blues to reggae nightly.  Plays, Broadway musicals, operas and dance excite thousands at the Straz Center for the Performing Arts.

Beneath all this good news, however, lies a dilemma rapidly developing in the Tampa real estate market.  There are simply not enough homes available here to meet the demand.  This is information you need to know if you’re still “sitting on the fence” about buying a home here in Tampa Bay.  A skeptical reader might ask, “but where is all this demand for homes coming from when the overall economy still isn’t doing all that well ?”

First, its coming from first time buyers.  Rents nationwide and locally in Tampa Bay are rising leading many young families to decide that it will be cheaper to own than rent for the foreseeable future.  They also see that the decreasing number of homes on the market is beginning to drive prices up.  First time buyers who can qualify for a mortgage are recognizing that if they are going to buy, they need to do it now before the price of the home they want gets beyond their means.  That fear, plus the fact that 30-year mortgage rates are at historic lows of about 3.5%, have made owning a home a more affordable and more desirable option for young families than it has been in a decade. When those buyers go looking, they find fewer and fewer homes available to choose from.

The second source of demand is coming from the other end of the income strata.  Even though mortgages are harder to get than at any time in 6 or 8 years, people in the upper income brackets can qualify for attractive-rate mortgages because they have the resources to meet the 20% down payment criteria, and even more frequently, they can and do, pay cash. These families can afford to buy a home wherever and whenever they wish and they’ve decided Tampa Bay is the place and this the time to do it.

At the same time demand for Tampa properties is high, the available inventory on the market dropped in July to a new low of 2,267, a full 66% below the level a year ago.  In Hillsborough County, where the supply of homes for sale on the market exceeded a 24 month supply  just two years ago, the number of for-sale homes has plunged to just a 3-month supply, half  the supply that should be available in a healthy market, according to the Tampa Bay Times.

So, if demand is high and existing home inventories are low, why aren’t builders providing a higher supply of new-construction homes to meet the demand?  

Builders have a problem of their own.  A few years ago, banks would lend money to builders to build “spec” homes – homes for which there was not already a sales contract in place.  That is seldom the case today.  After being burned by so many bad mortgages in the recent past, many banks refuse to provide construction loans to builders unless there is already a firm sales contract already in place. As a result few spec homes are being built further constraining the supply of available homes.

What does this all mean to you?  Growing demand for homes in all price ranges coupled with a diminishing supply is causing what always happens when demand outstrips supply – prices are rising.  On attractive homes, and even on most average homes, Tampa Bay Realtors are now seeing multiple, competing offers  –  offers above the asking price in more and more cases.

If you are considering buying a home or condo here in Tampa Bay as your primary home, a second home or as a retirement home any time in the next few years, and if you can qualify for a mortgage, or don’t need a mortgage, contact an experienced Tampa Bay Realtor like Cheryl Stimac today and get started picking out your home here in Tampa, the “heart of Tampa Bay.”

Is a Tampa Bay Condominium the Right Next Step For You?

    Many baby-boomers, as they transition from raising a family to the “empty-nester phase or from a full-time career into a somewhat slower-paced retiree lifestyle also relocate to a place with a warmer climate like here in Tampa Bay, Many of those people would also like to reduce and simplify the work associated with home ownership. Yet, these folks do not want to give up the pride and sense of stability that comes with owning your own home.

   The option of renting may be appealing to some, but most of us still want to “own our own home.” In the Tampa Bay real estate market today, there are options to meet the needs and desires of everyone, and many people are finding that the condominium lifestyle offers many of the benefits of home ownership without all the drudgery that comes with a single-family home.

   Condos in Tampa Bay come in all shapes and sizes, in all sorts of locations from urban living spaces close to the arts and cultural and sporting venues of downtown Tampa like those at The Place at Channelside or on the waterfront on Harbour Island, Davis Island or along Bayshore Boulevard. Other condos are set in more suburban areas, like Westchase or Wesley Chapel, away from the hustle and bustle of downtown and closer to regional shopping malls, parks, nature trails and such.

   There are high-rise towers, two and three-story townhomes and single story villas. Some single story villas and patio homes are attached while others are free-standing. Many offer garages,while some provide community swimming pools, spas and fitness centers. There are one, two and three bedroom units, some even have four bedrooms. There are condos with one, two and three baths. Some are relatively simple in layout while others can be truly opulent. Some have simple views of the surrounding units while others have scenic views of golf courses or of the waters of Tampa Bay or the Gulf of Mexico. They range in size from less than 650 square feet to well over 2,000 square feet of living space.

   Regardless of which type or style of condo you buy, the condominium lifestyle relieves you of the responsibility for lawn and garden work, exterior building maintenance, and, if there is a pool, maintenance of that facility as well. You can go about your life knowing that the yard in front and around your home will always look well cared for, that exterior building maintenance is being done by licensed and bonded professionals, and that your property will always be in compliance with all local ordinances.

   Depending on the style of condo you buy, the condominium association may also take care of other common amenities such as a well-appointed lobby, access security, libraries, fitness centers, and meeting rooms, all facilities you’ll get to use without the effort involved in having one of your own.

   Another significant benefit of living in a condominium is your personal sense of safety and security. Just the fact that you live in a building with others gives you a sense of security knowing that there is likely someone else watching what’s going on most of the time including when you come home after dark from an evening out. Most condominium properties are well lighted and some are gated; some even have full-time security personnel on site. You do need to understand that such amenities aren’t free.

   Your condominium association fee will, of course, be higher as you add extra layers of convenience and security, but for many of us, those extra services are provided to you in a condominium setting at a much lower cost than you could provide the same services on your own in a single family home.

   If you are moving to Tampa Bay, or considering downsizing and/or simplifying your life, don’t rule out the condominium lifestyle option until you’ve let me introduce you to one of more of the many condominium options available to you at attractive prices today in Tampa Bay Florida.

   I would be happy to answer any questions you may have about Tampa Bay condominiums if you'll complete my brief Request for Tampa Bay real estate information form. You may also E-Mail Me at your convenience. For more immediate action, call me at 813-263-6806. I'd be delighted to chat with you today.

Welcome to the Unique Lifestyle of Waterchase

    Imagine yourself living in a resort-style community close to Gulf beaches, challenging golf courses, the Tampa International Airport and all the excitement of the downtown Tampa shopping, dining, cultural and sports venues. Some of Tampa's best-known upscale homebuilders, among them Arthur Rutenberg, Marc Marconi, David Weekly, Morrison, Standard Pacific and Ryland Homes have developed Watercahse, a gated master-planned community located on approximately 475 acres in the northwest area of Hillsborough County, in the Citrus Park area, off RaceTrack Road.

    As you enter the community on Waterchase Boulevard, past its manned gatehouse, you’ll notice the charming European-style street lamps and follow meandering streets wandering through the community where you will find every amenity you and your family might desire.

    The centerpiece of the community is the 6,400 sq. ft. Caribbean-themed clubhouse with state-of-the-art fitness center, aerobics studio, lighted tennis courts, a junior Olympic-sized lap pool and another with a two-story waterslide and splash pool, a multi-use athletic field, basketball courts and a kid-friendly playground. In addition, Waterchase includes wetland preserves to view and nature trails for family-friendly strolls. Golf carts are the way many get around in this delightful community and golf is frequently the topic of conversation at the clubhouse since Waterchase is located right next to the two 18-hole public courses at the Eagles Golf Club and the 18-hole semi-private Westchase Golf Club.

    Waterchase offers homes in six distinct villages, each offering its own unique architectural style, including Aberdeen, Alicante, Ashton, Baleares Village, Mar Azul and Savona plus toenhomes in Provence. Within these well-planned lushly landscaped “villages”, you’ll find over 600 4 and 5 bedroom single-family and estate homes, many with water views ,priced from #400,000 to over $1 million.. These homes are situated on lots ranging in size from 45 x 120 feet up to 90 x 200 feet. Town homes for sale among the 130 or so 2 and 3 bedroom townhomes in Provence are priced from under $200,000 to about $300,000.

    Students in Waterchase are served by some of the top-rated schools in Hillsborough County school district; Bryant Elementary, Farnell Middle School, and Sickles High School.

    The Waterchase community is truly far from ordinary, yet close to everything. What could be more appealing. If you think you might be interested in learning more about Waterchase or any other Tampa Bay community, I'd be happy to answer your questions and introduce you to homes in whatever price range and lifestyle you find most appealing. Feel free to E-Mail Me or call me for more immediate service at 813-263-6806.

Tampa Bay Homes - Popular and Now Becoming Even More Popular

    Tampa Bay continued to be one of the most popular Florida real estate markets in the first half of 2012. The Tampa Bay counties, Hillsborough, Pinellas, and Pasco continued to be among the most popular places to buy a home, condominium or town home in Florida.

    Hillsborough and Pinellas County were both in the top 10 in home sales for the first six months of 2012 with Pinellas County ranking fifth and Hillsborough County ranking seventh among 67 Florida counties tracked by the Florida Association of Realtors.

    But Tampa Bay does not appeal only to citizens of the United States. An interesting fact is that, based upon a study by the National Association of Realtors (NAR), the state of Florida again topped all other U.S. states in sales of homes to international buyers. Florida accounted for 26% of all U.S. home sales to the international market during the first quarter of 2012 surpassing the second most popular market, California, by 15 percentage points.

    Canadians, accounting for 24% of all foreign-resident home sales, prefer Florida because of its warmth, sunshine and delightful beaches, Residents of China were the second most popular source of buyers accounting for 11% of sales, while an increasing number of Germans are also investing in properties in Southwest Florida. Interestingly, the average price of homes bought by international buyers was $400,000, considerably higher than the average price of homes sold to residents of the United States.

    The three top reasons why international buyers purchased a home in Florida this year, as in previous years, has been first, to use the home as their primary residence, second, as a vacation property, or third, as a investment/rental property.

    Specifically, In June 2012, 3,751 homes were sold in Tampa Bay with a median price of $125,000 compared to 3,404 homes sold during the same period in 2011, a 10% increase. At the current rate of sales, there were only 13,897 homes for sale in Tampa Bay compared to 21,350 at this point last year, a 35% decrease in the number of homes available. When the inventory of homes on the market is more than a 6 month supply, it is considered a “buyer’s market” where the buyer has more leverage. But, when, as is the case now, the inventory of unsold homes falls below a 6 month supply (it’s currently at a 4 month supply) , the market is considered to be trending toward a “seller’s market where prices will begin to rise. As happens in a seller’s market, attractive homes, attractively priced are beginning to receive multiple offers.

    What does all this mean to you as a person or family considering investing in a home in Florida? It means simply that thanks to both domestic and international buyers, the Florida real estate market, and Tampa Bay in particular, is finally recovering and is returning to its status as one of the most popular places in Florida to buy a home. It means that those who fail to act quickly, will be facing increasing prices on that home or condominium that you’ve pictured as being “Your Little Piece of Paradise” in Florida.

    I would be delighted to show you Tampa Bay homes and condos that meet your specific needs, wishes and dreams. I would also be happy to answer any questions you may have about Tampa Bay if you'll complete my brief Request for Tampa Bay real estate information form. You may also E-Mail Me. For more immediate action, call me at 813-263-6806. I'd be delighted to hear from you today.

South Tampa Neighborhoods - Bayshore & Hyde Park

    Two of the most interesting South Tampa neighborhoods lying side by side are the Hyde Park and Bayshore neighborhoods. This is an upscale area of Tampa with most of it facing Hillsborough Bay. These two neighborhoods are in close proximity Tampa General Hospital, the University of Tampa and all of downtown Tampa. It’s also close to the sports, entertainment, dining and night life of the popular Channelside district. Because of this, the Hyde Park and Bayshore neighborhoods are very popular places for business executives, financial and medical professionals and college professors, among others, to live. For those who travel frequently, these neighborhoods are ideal because of their proximity to the Tampa International Airport.

    The Hyde Park and Bayshore neighborhoods are roughly defined as the area bounded by West Swann Avenue on the north, the LeeRoy Selmon Expressway to the west, Bay to Bay Boulevard to the south, and Bayshore Boulevard to the east and southeast

    Hyde Park is a historic neighborhood that includes the upscale Hyde Park Village shopping and dining area and the “SoHo” (South Howard Avenue) collection of restaurants, shopping venues and nightclubs. These are intermixed with “Old Florida” style bungalows and condominiums. A number of older Hyde Park homes have been torn down and replaced by more modern homes built as replicas of the original bungalow-style homes of an earlier time.

    Bayshore is home to low-rise 2 to 4 bedroom condominiums, townhomes, and high rise condos, as well as charming, historic and traditional style homes. What sets Bayshore apart is some of the most prestigious, and architecturally interesting homes in Tampa. Homes prices range widely in Bayshore from the smallest condos and town homes in the high $100,000’s to multi-million dollar prices on the most elegant and expansive mansions on the most prestigious lots.

    One of the most scenic attractions of the Hyde Park and Bayshore area is the sidewalk along Bayshore Boulevard running along the seawall bordering Hillsborough Bay. It is reportedly the longest continuous sidewalk in the world extending from downtown Tampa all the way to Ballast Point and the Tampa Yacht and Country Club.

    In the Hyde Park and Bayshore neighborhoods, you'll frequently find people rollerblading, biking, enjoying a morning jog or an evening stroll along Bayshore Boulevard, itself, and on the miles of sidewalks in this scenic area of Tampa. The landscaping in this part of Tampa is immaculately maintained and there are parks where families can enjoy outdoor activities.

    Bayshore Boulevard is also the scene of the annual Gasparilla Parade. Parade goers line the boulevard to see Jose Gaspar, a mythical Spanish pirate captain who supposedly operated in this area, as he and his band of unruly pirates sail into Tampa Bay in late January each year, invade the city and take to the streets in a gigantic street party.

    If you'd be interested in learning more about these two South Tampa neighborhoods, I'd be happy to answer your questions and introduce you to these lovely parts of Tampa Bay. Feel free to E-Mail Me or call me for more immediate service at 813-263-6806.

Mistakes Home Buyers Make as the Tampa Bay Real Estate Market Recovers

Tampa Bay Florida home buyers have had an unusual advantage over sellers since the real estate bust crushed the price of homes in 2007-2008. While the housing industry still has a ways to go to fully recover, there are signs beginning to emerge that as the inventory of unsold short-sale and bank-owned properties dwindles, sellers are beginning to have a little more leverageover buyers.

Some prospective home buyers don’t seem to have realized that the Tampa real estate market is changing and recovering. Those people seem to think that all home sellers (including owners of short sale and bank-owned properties) are "desperate." But owners of homes in good condition in attractive neighborhoods are not nearly as desperate (or not desperate at all) as those prospective home buyers would like to believe. "At this point, prospective buyers," says Cheryl Stimac, a Tampa Bay real estate broker at Red Shoe Realty, Inc., “need to start being more realistic in the offers they make."

Here's are some common mistakes made by buyers that too frequently result in the buyer not getting the short sale or bank-owned home they fell in love with:

• Failing to communicate honestly with your Realtor about your willingness (or lack of willingness) to wait for approval:
  One of the biggest problems Realtors face these days is prospective buyers who want to tour many bank-owned and short sale homes, find the one they want, and then walk away before their offer is accepted by the bank.
  
  No Realtor wants to show one home after another to a prospective buyer who is just too impatient to be buying a short sale or bank-owned property. If you need a quick approval of your offer, a short sale or bank-owned home is not the way for you to buy a home.
  
  Although it is possible to receive an approval from a bank within 3 to 4 weeks, many banks take 6 to 8 week (sometimes more) to approve or reject an offer. As a buyer, you should be prepared to wait as much as 12 to 15 weeks, but be prepared to close quickly when the approval is finally given. Demanding a bank approval within 30 days will likely get your offer rejected.
  
  
• Taking too long to “sleep on it”:
  A prospective buyer may feel their Realtor is being "pushy" when he or she suggests making an offer immediately after finding the home the buyer falls in love with. Taking too long to "think about it" now that the real estate market is starting to recover can mean someone else gets the home you wanted.
  
  According to the National Association of Realtors, the number of homes listed for sale has fallen by more than a third since the peak in July 2007. Inventories of Tampa Bay homes for sale may swell a bit later this year as more bank-owned homes hit the market, but homes priced reasonably in attractive neighborhoods will still be "under contract" within a week or two. Some newly listed homes are back to being sold at the first open house showing.
  
  
• Making a low-ball offer:
  Even at the bottom of the market, banks had a pretty good idea of the value of the homes they were selling and not only didn't accept "low-ball" offers; they didn't even make counteroffers on ridiculously low offers. Can buyers offer something less than the asking price? Of course, but don't make offers 15% to 20% below the asking price on a short sale or bank-owned property.
  
  And remember, the bank may set a price (called the reserve price) on a home being sold or auctioned off and will keep the home in their inventory rather than sell it below that reserve price. Banks do want to sell their short sale and bank-owned homes, but you are very unlikely to be able to "steal a home." It just doesn't happen. It's that simple.
  
  It's also a good idea to ask your Realtor to contact the bank or the listing agent to see if there are outstanding offers already on the home. That will provide you with a good idea of whether it is worth the time to make the offer you were considering making.
  
  
• Making too many contingency demands in your offer:
  Typical Tampa area real estate contracts include stipulations such as the buyer qualifying for a mortgage, and the right to a termite inspection and a professional inspection.
  
  But, some buyers also insist on an unnecessarily lengthy inspection periods of 30 days or more instead of the ususal 10. They may also demand the seller pay virtually all closing costs, sometimes on top of a low-ball price offer, demand that a bank respond to their offer within 30 days, or a silliness like making the contract contingent upon a family member touring the property and approving of it.
  
  If the prospective buyer is adult enough to buy a home, he or she ought to be mature enough to make the decision without "waiting for Mommy or Daddy to say OK."
  
• Expecting a bank-owned or short sale home to be in perfect condition:
  As a general rule, bank-owned and short sale properties are not in pristine condition, seldom even close to it. The home may have been unoccupied for a considerable period of time or the persons living in the home as the process dragged on had little incentive to keep it is pristine condition.
  
  If you want a "move in ready" home that needs no work of any kind, a bank-owned or short sale is unlikely to be the right avenue for you to use to find the home you want
  

I would be more than happy to show you Tampa Bay homes and condos and to answer your questions if you'll complete my brief Request for Tampa Bay real estate information form. You may also E-Mail Me. For more immediate action, call me at 813-263-6806. I'd be delighted to hear from you.