Tampa Home Sales Continue Improving

According to the Greater Tampa Association of Realtors,1,523 properties sold during November, 2011. The average sale price of homes sold in November was $146,436, down slightly from $151,329 in October.

In 10 of the past 12 months home sales in the Tampa area have increased. The November sales total was an increase of 7% from the same month in 2010. At 9,800 homes of the market at the end of November, there is only a 6.4 month supply of homes and condos on the market. At the worst point in December, 2007, there were over 21,000 housing units on the market. Six months of inventory is the point at which buying and selling pressure are considered equal. If you add in the homes already under contract for sale, but not yet closed, the supply of homes and condos available drops even further. When the inventory of homes for sale drops below 6.0 months, the market is considered to be a "seller's market" where prices may begin to rise.

Another important market statistic, the average number of Days of the Market dropped consistently during 2011 to an average of only 103 days in November. As this number drops, it means that homes are no longer sitting on the market awaiting buyers. They are beginning to sell more quickly.

On the most attractive and attractively-priced homes, buyers in Tampa Bay are beginning to confront multiple competing offers, something that hasn't happened in a long time. Even real estate investors are finding they can no longer make ridiculously low-ball offers with any hope of success. They are finding that if they want to buy the property, they need to make an offer at or real close to what the properties are actually worth, a healthy sign.

Local Realtor Cheryl Stimac noted that, given the improving market condition price-wise, banks are increasing the pace at which they are putting their distressed properties on the market as short sales but these are expected to be bought up reasonably quickly by the increasing number of prospective buyers here during the snowbird months.

Overall, several positive forces seem to be coming together in the Tampa real estate market. The lower inventory of homes for sale is stabilizing, and will eventually put upward pressure, on prices. Banks are moving more quickly to get their inventoried properties on the market rather than letting them go into foreclosure where the condition of the home frequently degrades quickly. People are more upbeat than they have been in 3 years according to the consumer confidence index. And, with the arrival of our “snowbird” friends, there are more buyers in the Tampa Bat real estate market who are looking to buy now at these historically low prices and interest rates.

If you are visiting Tampa Bay now or planning to come here in the near future, I encourage you to call me at 813-263-6806, E-Mail Me, or visit my Tampa Florida real estate website to learn more about the many attractive golf course and other communities in our area. I would be delighted to answer your questions and offer suggestions on where to find exactly the type of home in the price range you are looking for.

Single Females - A Growing Segment of Tampa Bay Home Buyers

The National Association of Realtors (NAR) recently reported that single women are quickly becoming a significant percentage of the total number of home buyers in real estate markets all across the United States. In 2011, over 20% of all home buyers were single women.

According to the NAR, single women aren’t just purchasing more homes. And it is not just young single professional women, the range of single female home buyers varies from young singles to post-retirement women. Builders report that women have become much more savvy about the whole home buying process than many male buyers. And, they are more likely to ask piercing questions and demand straight answers.

Due to the increasing number of single women buying homes, Tampa Bay builders and real estate agents are altering their advertising and marketing approaches to appeal to this large new segment of Tampa Florida home buyers. Builders in Hillsborough and Pasco County are increasingly offering new homes with more extensive security features, low- or no-maintenance yards, gourmet kitchens, more spacious bathrooms and softer color schemes - all features that appeal much more to female than to male buyers.

“When a woman is shopping for a home with a man, she may tend to defer to the man's interest in things like a large garage, a place to put the barbecue grill or a spacious den to be used as a "man-cave. Men don't mind a home that needs some "projects" to be completed," says a noted Tampa area Realtor, Cheryl Stimac. "Conversely," she says, "when a woman is buying a home for herself, she tends to be very interested in the functionality, completeness and appeal of the kitchen and baths. Focus groups have also shown that she would like an extensive security system. And, unlike the man, she will focus heavily on how many major and minor changes she will need to make to adjust the home to her personal lifestyle, interests and needs,"

As the Tampa real estate market continues a slow process of improvement, it behooves everyone involved in the real estate business, including those trying to sell a home, to pay attention to trends like this and tailor their plans and actions appropriately.

For example, we all know how important "curb appeal" - the first view from the street - is in successfully marketing a home. If, for example, you were attempting to sell a home or condo in Tampa Bay right now, it would be worth considering what exterior and interior changes will make the home more attractive to single female buyers.

Outside, the home should be extra appealing. The paint and trim should be near-perfect, the roof should not need work, shrubs and gardens should have a low-maintenance look. Inside, she will want to see more neutral and warmer colors. The kitchen should be spotless and uncluttered. Baths should sparkle andf have fresh, coordinated-color towels. Things like this can make a big difference in the appeal of a home to a single female buyer.

If you have a home or condo to sell in the Tampa Bay real estate market, I'd be happy to help make your home more "female-friendly." Call me at your convenience 813-263-6806 or E-Mail Me.

Buy that ugly beast of a home and make it a beauty!

Foreclosures,short sales, and empty homes all lead to homes that need repairs. I can not tell you the number of times we have entered homes and discovered missing air conditioning units or missing kitchen cabinets.

Well how can you buy a home that needs so much repair? Where will you get the money after closing to fix that leaky roof? The FHA 203k loan is your answer. You can buy that beast of a home in a great neighborhood and turn it into the beauty of your dreams. You can add a new kitchen, the 13 seer Air Conditioning unit or roof to the mortgage. You can add a new master suite and bath to the 2 bedroom, 1 bath home. Do not let the condition of the home make you walk away from it. If the home is in the right location, or the lot size you have dreamed about, lets talk about how to make it into a beauty.

February Home Sales Indicate A Rapidly Improving Real Estate Market

The Tampa Florida real estate market continued to show consistent improvement in February, 2011 with 1,591 homes of all types sold versus 1,427 sold in January. The average sales price also improved from $133,426 to $135,140.

This trend, if it continues as it surely appears it will, will accelerate the return of the Tampa real estate market to equilibrium during 2011.

There were improved sales volumes across all types of homes with 1,141 single-family homes and villas sold in February versus 1,016 in January. There was also good news in condos and co-op sales with 405 sold in February versus 370 the prior month. In other categories, there were 45 sales versus 41 in January.

Perhaps, most significant as a predictor of a future trend, the inventory of unsold homes on the market in Hillsborough County dropped from 15,152 or an 10.6 month supply down to 13,948 or an 8.8 month supply. This means that at the current rate of sales all existing homes on the market would be sold in 8.8 months. A real estate market is considered to be in equilibrium between buyers and sellers when the months of supply reaches about a 6 month supply. Things are clearly moving in that direction at this point giving us reason to feel very positive about a Tampa real estate market recovery in 2011.

Home prices here in Tampa Bay are now at levels lower than they have been in many years, but as the statistics above reflect, the real estate market is improving. Prices will not stay this low for much longer.

If you have been wondering whether you should buy a year-round or seasonal home or condo here in Tampa Bay before you head back North this year, I invite you to call me at 813-263-6808 while prices are still depressed.

I would be pleased to listen to your wishes and then show you homes here in Tampa Bay that will meet your every wish at prices you will find very attractive. Then next year and for years after that, you will get to enjoy the friendly, sunny Tampa Bay lifestyle in a home of your own.

I would enjoy helping you make that dream come true.

Universal Design - A Housing Option Appealing to Seniors &Young Families Too

The term "Universal Design" refers to a wide range of architectural and construction ideas and products meant to produce buildings, products and environments that are inherently accessible to both the able-bodied and the physically disabled.

Universal design elements include such things as

• No-step entry
  
• One-story living without stairs
  
• Wide doorways (32-36 inches) and hallways (36-42 inches)
  
• Pull handles instead of knobs on cabinetry
  
• Under-cabinet lighting
  
• Adjustable rods and pullout shelving in closets
  
• Lever handles on doors instead of knobs
  
• Walk-in showers and bathtubs
  

The "universal design" concept evolved from earlier "barrier-free" concepts, the broader accessibility movement, and adaptive and assistive technology. Universal design seeks to blend aesthetics as well as functionality into products.

As life expectancy increases and modern medicine increases the survival rate of those with significant injuries, illnesses, and birth defects, there is a growing interest in universal design by many forward-thinking architects and builders. There are many industries in which universal design has had strong market penetration but there are others in which it has not yet been adopted to any great extent. For example, while curb cuts or sidewalk ramps, essential for people in wheelchairs but also used by all, are a common example, the home building industry has just recently become interested in the concept.

More Tampa Florida area homes are now being built with "universal design" features that will help boomers stay in their homes as they age. Interestingly, these features no longer evoke images of a hospital or nursing home room so they are beginning to appeal to younger demographic groups as well as seniors and the disabled.

In addition to kitchen and bathroom cabinets with pull-out shelves, kitchen counters at several heights to accommodate different tasks and postures, and walk-in bathtubs, there are now color-contrast dishware with steep sides that assist those with visual or dexterity problems. There is also growing use of lever door handles in place of the standard doorknob making it much easier for people with disabilities (as well as moms carrying a baby or bags of groceries) to open a door.

Perhaps the most interesting facet of the "universal design" concept is how quickly younger families are beginning to ask for such "ease-of-use" features in the homes they are considering building or buying.

For those interested in pursuing this further, there is a Universal Design video available for purchase that provides a lot of information about building and remodeling with universal design concepts.

As a Tampa Bay real estate agent, I have experience showing and selling homes which incorporate universal design concepts.

I would be delighted to help those who may be considering buying a home in the Tampa Bay Florida area identify builders employing "universal design" concepts in their new homes. I invite you to E-Mail Me or call me at 813-263-6806.

Tampa Bay Lakefront Living in Cory Lake Isles

The Cory Lake Isles community, first developed in the mid 1990's, is located in the "New Tampa" area of Tampa Florida. This master-planned community was developed hugging the 10-mile shoreline of Cory Lake, the largest man-made lake in the area and abutting 17,000 acres of protected woodlands. Most of the homes in Cory Lake Isles have either lake views or conservation area/woodlands views. This unique community has brick streets with immaculately-kept tropically landscaped areas along its entrance ways and along walking and biking trails.

Cory Lake Isles community amenities include a 6,000-square-foot Beach Club situated on the lake with glistening white sand. Tennis, volleyball, a playground, canoeing, and a boat dock are additional features. While many residents enjoy the white sandy beach of Cory Lake, others enjoy water sports and fishing on the lake where bass are commonly caught. There is also a state-of-the-art fitness facility.

There are two entrances to this upscale community - one off East Fletcher Avenue/Morris Bridge Road and another from Bruce B. Downs Boulevard via at Cross Creek Boulevard.

From Cory Lake Isles it is less then a 30 minute drive to Downtown Tampa and 10 minutes more to MacDill Air Force Base. Cory Lake Isles, like all New Tampa communities, is conveniently located close to University of South Florida and Busch Gardens and a comfortable drive to downtown Tampa amenities like the Tampa International Airport, Raymond James Stadium, home of the Tampa Bay Buccaneers, the Ice Palace, Lowry Park Zoo, the fabulous Florida Aquarium, and Tampa's Performing Arts Center.

If a luxury lakefront home in a gated, master-planned community is your dream home, you'll find what you're looking for in Cory Lake Isles. Prices today range from the mid $200's to well over $1.0 million for the largest lakefront homes.

I would be delighted to show you homes and condos for sale in Cory Lake Isles or anywhere in Tampa Bay Florida at a time convenient for you. I invite you to request my free Tampa Florida Information Package or E-Mail Me or call me at any time.
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For outstanding Tampa Bay real estate service, you cannot do better than selecting Tampa Bay real estate broker, Cheryl Stimac of Red Shoe Realty, Inc.

Helpful Guide for Our "Snowbird" Friends

This is the time of year when our friends from up North start coming to Tampa Bay, Florida to enjoy our fair weather and our casual sun-soaked lifestyle. Every year, more than a million Canadians and U.S. citizens from our more northern states migrate to Florida. Some are seasonal visitors while others consider becoming permanent citizens of Florida.

Some of these "snowbirds," as we like to call them, consider buying a home or condo here in Tampa Bay. Some of these "Snowbirds" also seriously consider taking the additional step of becoming residents of the state of Florida.

In both cases, these folks often wish they had better and more comprehensive sources of information to help them make good decisions about either buying a home or condo here in Florida or becoming Florida residents. While as a real estate agent, I can be very helpful, there is still much more one might wish to to learn before "taking the plunge."

There are two paperback books currently available for purchase that I think can be very helpful to those considering purchasing real estate in Florida and/or becoming residents of the state of Florida. I would like to point them out to my readers:

•"The Canadian Snowbird Guide" by Douglas Gray
•"The Official Snowbird's Guide to Becoming a Florida Resident" by Dean Hanewinckel, Attorney

Each of these books can be purchased from Amazon.com so we have included below direct links to the Amazon.com pages on which they are advertised.








For those of you with an E-Reader device such as an IPad or Kindle, it is noteworthy that these two paperbacks are also available to be downloaded to your E-Reader.

These two books are also available from other Internet sites such as buy.com and books.Google.com and from from many local bookstores such as Borders and Barnes and Noble. We encourage you to consider taking at look at these books either before you come to Florida this year, or, if you are already here in Florida, at one of our local bookstores.

For a permanent home, vacation getaway or an investment property, the Tampa Bay real estate market, after our recent price corrections, is hard to beat. I invite you to request my free Tampa Bay Real Estate Information Package or, for immediate assistance, I invite you to call me directly on my cell phone at 813-263-6806 for more immediate service.

Ten Step Process for First Time Home Buyers

The Key to a Stress-Free First Home Purchase

If you are a first-time home buyer in the Tampa Bay, Florida area, this is a great time and the real estate market right now is perfect for you because:

• You do not have another property to sell that you might lose money on.
  
  
• Mortgage rates are extremely low right now, and
  
  
• Price reductions have made homes much more affordable than they've been in over 10 years.

But you do need to understand that buying a home is a fairly complex process that takes time, some knowledge and the guidance of a real estate professional to make things go as smoothly as possible and for you to get the best possible deal. Here are 10 steps that will help you accomplish your goal of buying a first home that meets your needs and desires at a good price.

1. Buy a Notebook and get organized. Use this notebook exclusively for planning your first home purchase.

First, think about and then write down a summary description of the type of home and type of neighborhood you would like to find. Is it a ranch, a bi-level or tri-level, a two-story home, a duplex where you can rent the other half, or a condominium? Do you want a small lot to maintain, a maintenance-free community or a large lot of land where you can pretty much do whatever you wish without offending your neighbors? Do you prefer living in the city, the suburbs or in a more rural area?

Now, and this is a really important step, write down those things you REALLY NEED TO HAVE in the home for it to meet your needs for the next 7 - 10 years. Also list those things you’d REALLY LIKE TO HAVE but, if you had to, you could do without.

Keep this list handy and use it as a guide to judge every home you look at whether it’s a model home, an open house or part of a tour a Realtor has arranged for you.

2. You need to learn early on how much home you can afford. So, make a budget of your current expenses and use this to pinpoint how much you are willing and able to pay for the buying and maintenance of your new home. As a “rule of thumb,” keeping your monthly housing cost to 25% to 35% of your gross monthly income is a good place to start.

3. Meet with more than one mortgage lender. Bring you budget of current spending with you. Learn how much each lender believes you can afford to spend on a home and how much down payment will be required for the various types of mortgages available. Ask each lender for at least a pre-qualification statement. When you are reasonably sure which lender you would prefer to borrow from, ask if he or she will provide you with a "pre-approval" letter which you can attach to any offer you might make. Having a pre-approval letter already in place is a powerful price negotiating tool when you're ready to make an offer.

4. Introduce yourself to an experienced, full-time Realtor like Cheryl Stimac of Red Shoe Realty, Inc. Get to know the Realtor and make sure you feel comfortable dealing with him or her because you are going to be spending a fair amount of time together. Ask that realtor to act on your behalf as your "Buyer's Agent." Only when acting as your Buyer's Agent is a Realtor required to work for your benefit and yours alone. The Realtor whose name is on a For Sale sign in front of an Open House or a sales representative at a model home is NOT looking out for your best interest. They are working for and looking out for the Seller, not you.

5. Your Buyer's Agent Realtor will help you understand how your your housing affordability and your list of needs and wants fit with the market of for sale homes in Tampa Bay. He or she will then research the best home values and neighborhoods that meet your criteria and provide you with a list of homes currently on the market that fit your criteria.


6. With or without your Realtor, drive around visiting the neighborhoods with homes in your price range and identify those two or three neighborhoods and school districts you would most like to live in. This step will save both you and your Realtor a lot of wasted time and also help you to focus your criteria. After this step, you may want to sit with your Realtor again and adjust your list of "Needs and Wants" and make changes to your priorities of needs versus wants, if necessary. Remember, this list is only as useful as you have kept it in touch with the realities of your situation. It is natural to have started out with higher expectations than reality will allow, so do not be embarrassed or concerned if your list changes somewhat at this point. Update your list, share it with your realtor and carry on.


7. If you want to include "Short Sale" and "Foreclosure" homes in your search, be sure you fully understand how these procedures work (or in many cases, don't work) and the amount of time those processes can take. Your Realtor can explain the process by which these types of transactions occur and clarify for you the pros and cons of each of these home buying processes versus a normal purchase transaction.

8. Now get out there and get serious about finding that most perfect first home for you. There are wonderful homes available in Tampa and the Tampa Bay area at very attractive prices right now.

But, you need to be ready to act when you find that perfect one. The most desirable homes at the most attractive prices don't sit on the market for long, even in today's marketplace. Your "Needs and Wants" list, that hopefully you've kept up to date, will help you know when "this is the home for us."

9. Work with your Realtor to decide upon your offer price. Your Tampa Bay Realtor will help you by analyzing comparable properties in comparable neighborhoods to decide on an appropriate offering price. If you have secured a pre-approval letter from a lender, make sure it is still in effect, and attach it to your offer.

10. With the terms of your purchase contract agreed to by both you and the Seller, you will work your way through the multi-step contract-to-closing process. This process will include a home inspection, finalizing you mortgage application, and several other steps all of which your Buyer's Agent Realtor and your lender will help you with.

Eventually, on closing day, you will sign more papers than you'd ever imagined possible at the closing and then you'll be ready to move into your first home. Congratulations will definitely be in order at that point !!