Tampa Real Estate News – September 2014 Statistics

 View the Hillsborough County real estate statistics for September 2014. The statistics are taken directly for My Florida Regional MLS and are the most accurate stats you will find.

If you have any questions on the statistics or any home for sale in Tampa bay please give me a call or visit www.tampa2enjoy.com.

Tampa Real Estate News – August 2014 Statistics

 

Below is the transcript:

Hi everybody, this is Lance Mohr and I’m going to go over the Tampa real estate news and talk about the August real estate statistics. If you’re a buyer or seller and you’re needing help, if you have any questions whatsoever, don’t hesitate to give me a call, I’ve been in business since 1997 and have tons of experience. I’ve worked with thousands of home buyers and home sellers and I’ve seen about everything there is to see in real estate ten times over – so don’t hesitate to give me a call if you’re looking for someone to represent you as a buyer’s agent or seller.

So let’s get into the August statistics. I’ll start off as I always do and talk about the active listings first. As you can see, there’s really not much of a change. It did go up a little bit as there are a few more active listings. We went from 5,225 to 5,288 – not a really big increase. But the surprise is pendings, the pending sales went from 3,304 to 2,835. That’s almost 15% drop in one month. That’s a really big drop. So let’s go back to over to solds. Again, not a whole bunch has changed, we’ve gone from the July statistics of 1,390 homes that sold, compared to 1,414 in August. But what you’re seeing here, if you look at these statistics closely, is the pending and that’s a big drop. Generally speaking, June will be a little slow only because schools are getting out and August generally will be a little slower just because school is getting back in but May, June, July, August – those are generally very strong months in real estate and to drop almost 15% in one month is a lot. In the next month or two the solds are going to start dipping and they’re going to go from the 1,400’s into the 1,300’s and possibly into the 1,200’s. That’s because of how slow things are now. So what this is telling you is that the buyers are pulling back the a little bit and not really looking as much as they were.

If we go down to the bank owned and solds, you can see that 21% of all homes that sold were bank owned. That tells you sellers that buyers want a good deal. Now I’m not saying bank owned properties are a good deal or a great deal, I still think about 50% – 60% of all the banks have their homes overpriced. But it’s a perception of a deal. If we go over the statistics for August in the price range, you can see we’re still in the seller’s market across the board. If the seller puts their home for sale and they price it competitively, condition it so that it really looks good and market it so that it’s out there, it’s going to sell. It’s going to sell, whether it’s under $100,000, whether it’s under $250,000 or $300,000 – it’s going to sell. But once you start going over $300,000 (maybe even $250,000) it’s going to start getting a little harder to sell because there’s not as many buyers out there – not as many fish in the sea. But as you can see from these statistics, the Tampa real estate market is still strong. We’re still in a very good market and we’re still in the seller’s market; but we’ll what happens. I’m very curious to see what happens in September. Are the pending sales going to trend down and at what rate? As you can see the active homes are continually creeping up.

I hope this helps. Visit our real estate blog at www.tampa2enjoy.com/blog and you can see the Tampa real estate news, monthly statistics and a bunch of other terrific information. Have a great day and don’t hesitate to give me a call or send me an email if you have any questions.

Tampa Real Estate News – July 2014 Market Update

Take a look at the video about to view the latest Tampa real estate news and statistics for July 2014. This real estate market update will give you great insight as to what kind of market we are in. The data comes directly from My Florida Regional MLS. MFRMLS is the MLS provider for all Realtors in Central Florida.

Transcript:

Hi everybody this is Lance Mohr I’m getting these real estate statistics done early this month and the reason why I do this is for you the home buyers and home sellers in the Tampa area.  Can you imagine going out and looking for a home and spending could be weeks or months and finally finding the perfect home you like after all that time, the nights, the weekends, and all the looking and driving around and not really understand what type of real estate market we are in and then you lose the home to another buyer?  That’s really why I do this so you have a good idea not only where it is overall but where the real estate market is more specifically for your price range as well.

So let’s start off and go over and we will talk about the overview page.  We are going to talk about the actives right here.  We can see the active homes for sale have been going up.  If you look back to October of 2013 they were 4,680 and now they are 5,225 so they have gone up quite a bit.  We can go over to pending as you can see; they are really floating up and down but they are pretty steady around 3,300 in the low 3,000s and then you go down to the sold homes and as you can see we are on a good part of the year right now, the summer months which they are generally a little higher and in the May, June, July and even August timeframe as well and you will start to see a dip in September area.

Here’s the thing a lot of people don’t pay attention to is the pending homes as a percentage of the active.  I know a lot of times I sort of skip through this but the higher the number, the more of a seller’s market it is.  You can see right here 58% in June and now we are at 63%.  You can see it has been basically in the 60s and 70s since about the beginning of the year even October of last year and then probably the most important statistic right here is the supply and demand; basically the health of the market.  We are still under 4 months of inventory.  As I say six months is a stable market and not really a buyer or sellers so if the average sales price is about $180,000 or so, you are looking at six months of inventory.  So we are at a little under 4, at 3.76 months of inventory.  It is definitely a seller’s market.  Keep in mind when you also look at it you have to figure there is a certain percentage of the homes that home buyers are looking at and it is good for sellers to know this, but a lot of the homes are overpriced.  You might have probably 50% if not even a little bit more of the homes that are actually overpriced and some of them are just going to be in really, really bad condition and then some of them are going to be in bad condition and then average, then good, then really good.  Of course everybody is looking at the home that is a nice home in a nice area for a fair price and depending on your price range you are probably going to be competing with other home buyers.  I just had one of my buyers this week we put an offer in at $150,000 home and unfortunately there were 37 other offers.  That is not normal but still you don’t want to be in that situation.

So anyhow let’s take a little bit closer look at homes right here.   As you can see I color coded these to make it a little easier on people; the active, the pending, and the sold.  If we go down here to the inventory you can see even up to $500,000 the inventory is very, very low.  4.26 months from $300,000 to $500,000 is extremely tight inventory and it is low or anything below that. So anywhere from $500,000 – unless the inventory is very low.  Now one thing keep in mind on short sales is you can see where we are at in short sales right now.  If you look at the percentage of short sales on the market actively available you are looking at 9% of the market.  Thirty-two, almost 1/3 of every home that has a contract and is in the MLS is having a contract on it is a short sale but 7% actually are selling.  That’s about 21-22% of the homes are actually selling or closing that are short sales so you want to keep that in mind if you are going after a short sale and that is the avenue you want to go down.

I hope you like this information.  I hope this helps whether you are a home buyer or home seller.  I can’t tell you how many people over the last several years have been working with another real estate agent in Tampa and then they come to me and they realize the market that we are in and it changes everything.  It is really important if your realtor is not up to date on the market and what is going on then you need to be.  Hopefully they should be I know a lot of them are not but they don’t pull these statistics and get the information but definitely they should be and hopefully this helps you.  If you have any questions please shoot me an email and give me a call.  If you haven’t been to my website lately Tampa2enjoy.com and I know most of you have, definitely take a look.  It has been completely revamped.  Tons and tons and tons of helpful information; crime reports, school statistics, lifestyle search which is incredible; you can go in and you can find where health clubs are, where hospitals are, where restaurants are, where schools are all around where you live or where you want to live and of course I do the home buyer webinars.  I have tons of educational videos on the website.  Of course you can go to the website every month.  I do these market updates so you can go back several months and look at these.  Alright have a great day.  If you know anybody looking at buying or selling please give me a call.  If you like my website please like it on Facebook.  I have a Facebook like button there and Google Plus.  Have a great day.

Please visit my real estate blog for more Tampa real estate news. I do monthly statistics so you are kept in the loop. View June statistics: click here

Tampa2Enjoy Real Estate Website Overview

 

Transcript:

Hi everybody my name is Lance Mohr and I’m a real estate agent here in Tampa, Florida and I wanted to go over this overview on my website Tampa2enjoy because I’ve put my 20 plus years in this industry into this website and it is not just for people who are going to be moving to Tampa though there are certain aspects of it that are just for people who are going to be living in the area but whether you are living in other parts of Florida or even in the country there’s a lot of really, really valuable information and a lot of things you could find on this website. The reason why I did it like this and structured it to be so educational in all areas is because when my wife and I moved out of Texas, Dallas in 2005 and we got to Florida it just seemed like all of the websites were the same; no one could give us any information or tell us anything so what I wanted to do is I wanted to build a website that could answer about 99% of everybody’s questions, not just my questions or your questions but everybody’s questions. Let me just go over this and I will tell you this, if you look at this website and you start actually using it you are going to find a ton of valuable resources on it that you just will not find anywhere else because I have done a lot of the searching and everything for you and I have spent hours, weeks, and months looking for stuff so you don’t have to.
I just think we are in an information society and you need to give people not only information but correct and accurate information. So let me just go through this and I’m not going to spend too much time on each one of these because I don’t want this to be a very long video but we will just start off right here under area information. The first is the crime reports. I think this is just…I will take you to the page right here this in my opinion is just a great company. I spent weeks looking for all of the different ones and playing around with them. What is really nice about this right here…you can go in and enter a city, you can move the map around, zoom and zoom out, if you are looking at a specific home just enter the address right here and it is going to take you to all of the crime and you can look at it and you can see there are little dropdowns for different…to enter homicides or what you want to do or if you want sexual offence, assaults, or offenses or whatever. There’s a ton of stuff. Right here you can do date ranges; there’s a whole bunch of information. This right here you just click on it and as you can see it pops up and says auto burglary and gives the date. It just happened less than one week ago. I think by default they are all about within the week. Again you can zoom in and zoom out and check that out but that is a really good website I think when it comes to crime. I lot of people want to know crime when they are moving in the area. The other is school information. The school information is more the county school information whether you are in Hillsborough, Pasco, or Pinellas County the school reports and profiles are more of an independent company; a site with different profiles and independent reports of schools. The lifestyle search right here I wish I had this and wish it was around when we moved here because this was really important to me. This is what it is right here; my wife and I when we moved to Tampa it was really important to me to have a health club around me and to know where the different health clubs are, churches, etc. This is really good. It defaults on the homes for sale page right here but I don’t use their homes for sale because it is in my opinion pretty much junk. Just click on the lifestyles search right here and you can see you just turn it on and you can go to schools. You can search by schools, worship centers, fitness centers, golf courses, and what it will do, I’ll just do this really quickly on fitness; just put a little dot right there and you can see they all pop up right here. Now keep in mind some of this information you are seeing they could be if you are looking for say fitness it could be a karate studio. If you are looking for hospitals it could be an urgent care. This is how they input it and how they let people know in karate studios under fitness and urgent care is under hospital. You need to just sort of hover over and look; okay what about right here; there’s LA Fitness great. What’s this one? That’s Quest martial arts studio. Anyhow that gives you a really good idea. There’s a ton of stuff. You can play around with this. You can draw maps. There are all kinds of things you could do; really beneficial. I just have other information in here of things to do. I like theater so I put that in there all the different play houses and the weather and the county maps so you know where the counties are. A lot of people say where is Hillsborough County and where does Hillsborough and Pasco meet or Pinellas etc.?
If you are looking at relocating I have a lot of relocation tips. I’ve relocated myself a few times and I’ve helped relocate, on corporate level, hundreds of families. Sellers there is a lot of information on different seller mistakes and reports right there, interviews and realtor tips. If you want a free home evaluation just fill out your address and I can get you that. The area information; what I’m trying to do with the area information if you look right here and scroll down you will see Apollo Beach and these are some of the bigger subdivisions in Apollo Beach; Fish Hawk Ranch is a subdivision unto itself in Apollo Beach Let me show you what I’ve done on this right here. If you look this is the New Tampa page and it is like this in all the cities. Now some of the cities Carrollwood because it is an older area there’s not…I just did all of Carrollwood because a lot of the subdivisions back in the 70s and 80s are really, really small subdivisions. There are not a lot of really big subdivisions and I don’t want to just do Carrollwood Golf and Country Club. Give you an example, you come over here and you can look and see where the different subdivisions are. You can click right here and that will take you to the subdivision. You can also look at all of the homes for sale and you can see right here. What I did is on cities I do a video and I’m really trying to tell everybody about the city because a lot of times people will say I don’t know anything about Riverview, New Tampa, or Apollo Beach so I’m really explaining to them what type of community it is; not from a sales person’s point of view but my job as a real estate agent is to educate people and give them the correct information and they can make the decisions themselves. That is what I do here. It is a little over five minutes and then I have a write up on it and again down here if you want to do a lifestyle search it is on pretty much every page again just go to lifestyles, turn lifestyles on and then do whatever you need to do.
That’s that and that goes over all of these and then you have different types of searches. Right here videos; the video tips are really good because what I’m trying to do there is really educate people; again we are in the information age. Fortunately there’s a lot of really good information out there for no money; unfortunately there’s a lot of really bad information out there and I see and hear it all especially when it comes to real estate. This video right here is about homestead laws and property taxes; my next one is about short sales and I do ones in bank owned because there’s a lot of information out there in short sales and foreclosures not foreclosed but foreclosure homes that is really inaccurate and I have been doing foreclosures and short sales since 1999. You have information of what are CDD fees. Boy I look a little funny in some of these! Hiring a buyer’s agent, new homes, this one right here if you are looking into new homes this is really an absolute must watch because it just is so in depth. It is my longest video I have ever done 32 minutes which is an eternity for me but it has a lot of really good information. There’s a lot of really good information. I also do statistics. I get so sick of these newspapers and news media reporting inaccurate information. This is raw data taken directly from the MLS. I’m not giving you my opinions on anything I’m just showing you the facts. This is going to be more than the Tampa Bay area in general and not other parts of Florida. Testimonials; these are video testimonials. Our blog has some really good information on it. I don’t put junk in there and of course about us. Again you can search some of these waterfront properties and they try to give you information if you are looking for waterfront properties and what you might want to look for in luxury homes. Again foreclosures etc.; doing a map search and even luxury pages but I’m not going to go through every single one of these; you can look. Go down a little further and there’s property search right here. Here’s the deal breaker for a lot of people. The nice thing and let me just go ahead and click in that and I’ll take you back; the nice thing we have over a lot of these pages out here is this; it might say pages Zillow, Trulia and all of them is this right here. The problem is our MLS sells data to everybody and everybody gets the same stuff. Don’t let anyone fool you like they don’t. They send everybody Trulia, Zillow, individual offices and agents the same information. What I have on my website is I am allowing you to manipulate it in a way most sites are not. What I mean when you are getting all of these other sites you are looking at homes that are actively available for sale and homes that have contracts on them. What I’m doing is allow you to just look at homes that are active for sale because why look at a bunch of homes and fall in love with the home, drive by and look at it, call an agent just to find that the property has a contract on it three weeks ago and it is not even available. They are done with the appraisals, inspection, and are waiting to close and that is what’s happening. This will give you the way to just search just for active listings. You can do this and it is a real big time saver. I also do home buyer webinars. I do two of them per week. It is only about a half-hour long with great free gifts. I do home seller webinars; two per week again fantastic free gift especially in this one for home sellers. All you need to do is just put your first name and your email address to register and pick a date that you want to come and you are good to go. Both of these are about a half-hour long; again I don’t like to just keep on boring you with everything but if you look through the website tons and tons of great information that I’ve done the research for you. I hope this helps you. If you have any questions whatsoever reach out to myself and either myself or team member will give you a call back. I always try to return all calls and emails myself. I wish you the best of luck and have a wonderful day.

Tampa Real Estate Market Statistics For May 2014

Check out the above video to view the Tampa real estate market statistics for May 2014. I do these real estate market statistics in Tampa to help educate home buyers and sellers. The data is taken directly from the MLS (MFRMLS). Please give me a call in you have any questions.

Transcript:

Hello everybody this is Lance Mohr I hope you are having a good day.  I wanted to just go over the real estate statistics.  I know for quite a few of you who follow us every month who want to see where the market is, where the market has been, and where the market is going I think that is great and I know it can get a little boring at times because you are not going to see some huge change from month to month but if you follow this over time and as just an example going back a year right here, look at last year where we were on inventory 3384 to last month in May over 5000 homes in the market and the same thing if we go to February to see where we were and of course 2013 was a little….I don’t want to say better it was a little different of a year because a lot more hedge funds were in the market sliding things a little bit but you can see where we’ve gone.  You could see the monthly statistics; the home active listings went up slightly.  You have the pending sales pretty much stayed the same.  I think when you look right here short sales are continuing to drop as far as I think a lot of people are staying away from them.  They are still about 9% or 10% of the entire inventory out there but here’s where the change is really occurring from last month to this month is short sales as you can see last month were 6% of all homes that closed and in April and May then went to 8%.  Look at what bank owned did, they went from 23% to 19%.  I’m not really sure why the short sales why this is happening right here.  It could have just been a backlog and they were clearing out a little bit.  I think with the bank owned you are starting to see, you’ve been seeing over time if you have been in the market or if you are a real estate agent in the market you have been seeing, the banks have just been over pricing their homes.  I’m seeing a lot of that.  Unfortunately banks and a lot of their agents, not that the agents really have any control over it because they are really…a bank agent is like a property manager, they are basically put there not to market, they are not put there for any form of customer service at all because it is some of the worst and they are some of the most unethical realtors…I hate to say that but it is true.  They are pretty much like glorified property managers.  They are there to appease the bank and do paper work for the bank; that’s basically what it is.  What is happening is they really don’t have a lot into it and the banks’ ultimate decision to get educated but I’m seeing a lot of this where the bank might take a property and price it $185,000 or you will see some really ridiculous prices like $187, 650.  Stuff like that and it will be over priced and in 30 days they will lower it and in another 30 days they will get it to where it should be but in the banking world on an REO property 30 days and 60 days in the market is quite a while and the home is already getting shop worn and people are starting to stay away from it.  No different than if people are selling home the same thing tends to happen.  Then the bank will eventually get a lower price than they probably would have if they had priced it right but they are really not following the market trends.  This was a good thing last year and it was great because the banks did not quite have it figured out until probably the end of the summer how good the market really was but unfortunately right now banks think the market is better than it is.  They think we are still in a 2013 market and we are not and so a lot of overpricing that way.  You are seeing bank drops right here.  I think this is the reason why.  If you look this is comparison over time which is great to see what is going on.  You can sort of even if I wanted to go back even further you can see right here going all the way back to 2013 and trailing into 2012 and 2011 it goes back quite a way.  Anyhow you have this as statistics right here.  You have May with a little further breakdown it is a good idea to have an idea where you are if you are looking at buying a home or if you are looking at selling a home.  Where does your home lie?  Is it 100 to 200?  Is it 200 to 300?  Where is it and what is the inventory like?  Overall the inventory still under 4 months which is really good.  You have to figure the average sales price of $180,000.  You have right here you have inventory under 3 months for $100,000 to $200,000; even at $200,000 to $300,000 still very low inventory 300 to 500 very low inventory.  I know this does not seem like low inventory right here but look at the price ranges.  Check this out.  If you have any questions on anything; real estate questions or any questions on the real estate market in general don’t hesitate to reach out and give me a call.  I also have on my website tampatoenjoy.com a lot of great educational videos.  I really wish people would start watching more of those because I get a lot of…yesterday I had someone contact me and she was very confused about how CDD fees work and home owner’s associations and a lot of people are still very unfamiliar with really how foreclosure/short sales work and how bank-owned properties work.  I have all that information on my website tampatoenjoy.com.  I also do this right here every week as you can see the home buyer webinars for buyers at TBbuyerwebinar.com and TBsellerwebinar.com.  You are going to save tons of time just watching this because most people who are searching for a home if you like it great continue to do it but most people are not doing it right and they are just going to all these sites that are just more frustrating than good.  I know visually Zillow and Trulia look good but you know it really, really hurts people I think in the long run because they are just a train wreck of a site, just completely outdated information.  I know everybody is trying to find something that the next person doesn’t know about, but once you know the person or have an in on an investor that is just going to give you free money – because that is what an investor would be doing if they gave you a tip, giving you free money, I don’t think that is going to happen.   Certainly not on websites like Trulia, Zillow or the MLS.  Basically you have to be the first to the party so to speak.  If you have any questions don’t hesitate to give me a call.  Visit my website tampatoenjoy.com.  Go to my Facebook page.  Go to my Google Plus page.  Like me.  I appreciate it and I hope you have a great week.  Have a great day as well.  Goodbye.

Overview of Brandon, Florida

Hi my name is Lance Mohr and I want to do this overview and go over Brandon, Florida.  I’m a Brandon real estate agent and I just want to try to help you get a little more familiar with Brandon if you are thinking about maybe relocating there or buying a home, renting a home etc.

Location

Brandon is located in Hillsborough County.  It is off the 75 and it is just south of the I-4.  It is an older area predominantly Brandon was built in the 70s and 80s.  You will see some home in the 50s and 60s.  You will see some homes in the 90s and 2000s but predominantly they are smaller homes maybe 13, 15, or 2000 square feet built in the 70s, built in the 80s.  It is very, very nice if you are looking for areas that have a lot of things to do.  They have tons and tons of restaurants there, movie theaters, tons of shopping, and just everything.  As a matter of fact, people who live in Riverview, Apollo Beach, all the surrounding areas pretty much need to go to Brandon if they want to do things but with that being said when you get on some of their major roads like the 60 it can get very, very congested during rush hour so keep that in mind.

Style and Appearance

It really depends what you are looking for.  If you sort of like that more matured look and you want something built in the 70s and 80s Brandon could be a really good fit. If you are looking for something newer and you want to be in a newer community there are sections of Brandon that are newer and some of them are gated but you might be looking in areas like Riverview which is just south of Brandon that is a little bit newer and then you have some other areas surrounding Brandon also.  Overall it is a good area.  I would definitely go on my website tampa2enjoy.com where you could look up school information and crime information.  I do a lot of these videos in different cities.  Just go on to my YouTube channel and go to the search where I think it looks like a little magnifying glass and you can type in the different cities or if you want to get information of Florida property taxes, what are CDDD fees and if you are in an older community you really don’t need to worry about CDDD fees but if you are in probably the mid-90s to 2000s I would definitely watch that video.  There are videos on bank-owned homes, short sales/foreclosures, a lot of different information to help you out.  Go in there and check it out.  If you have any questions on Brandon or the area don’t hesitate to give me a call (813)-317-4009.  I wish you the best of luck.

Tips For Home Sellers

Hi, my name is Lance Mohr and I am a real estate agent in Tampa, Florida and I wanted to do this video for home sellers. I know a lot of people were on the internet and they want to find out the value of their home. They are thinking about maybe selling it immediately or six months down the line and they want to get an idea of what it is worth and they are going on different websites like Zillow which is just a joke but anyhow they are going on Zillow and they are filling out market evaluations and they are going on Google and typing in Tampa home prices or Tampa home values. So anyhow let me just give you a couple of tips and I have to say right off the bat, take what I say with a grain of salt because it is not going to resonate well with everybody.

Appraisers

So first thing you need to know when you are looking at getting the value of your home first it depends on how good the real estate agent is or how good the appraisal is. There are a lot of bad appraisers and there are of course a lot of bad real estate agents. Everybody knows that but you want to get someone who knows what they are doing and someone who gives a correct evaluation. I can’t tell you how many times I would follow up a real estate agent and I would ask the home seller but what did they give you? Can I look at it? I would see and they would basically the agent just went in there and they took everything in the subdivision over the past 6 months and they just printed out all the homes that were sold in the whole subdivision and then what they do is they figure out an average price per square foot and then they take that home and they use that price per square foot.

I mean that is just comical. That is not even close to how square footage is figured out or how home values are figured out. As a matter of fact if you ever look at an appraisal or actually see an appraisal and let us say the average price per square foot is selling in a subdivision for say $100,000 just figuratively. It is selling for 100 and you actually look at the appraisal. The appraiser did not use 100. They are going to probably use about 40.00 per square foot because they are not giving you all of the costs for your cabinetry and everything else in the home, the plumbing and everything so it is just based off of just square foot but I am not really here to go over that.

Choose the best pricing

What I want to tell people is I want to talk a little bit about the pricing; how important pricing a home is. If you price a home too low you are going to lose money. Everybody knows that. But what people don’t know is if you price the home too high you are going to lose probably just as much money if not more and I have statistics from the National Association of Realtors to back this up so I’m just not giving you a theory here; not to mention I’ve dealt with thousands of people over my real estate career and I can tell you when they overprice a home it is like shooting yourself in the foot. So the one thing people do and I go in and talk to them and they will say well we want to sell our home but we are not really in a hurry and I completely understand that but here is the thing. Whenever you are selling a home you don’t want to be in a rush and you don’t’ want to underprice the home but you need to do your due diligence because you need to have a goal.

I tell all my sellers the ones that will listen to me; we need to have a goal to sell this within one to two weeks because you want to capture buyers. The shorter a home is on the market, the shorter time period the less negotiating power someone has, a buyer has. Example, you are a buyer and you go out and look at a home. It has only been on the market 6 days. Do you really think you have a lot of negotiating power? Believe me no you don’t. Even if the home is overpriced you still don’t have a lot of negotiating power because it has only been on the market 6 days. Now let’s say the home has been on the market 166 days. Even if it is priced right do you think you have negotiating power? Of course you do. So keep in mind there are only three things that are going to sell a home. It is like a piece of pie. You have to have all three. They are always as important as the next but it all starts with the price because price is the common denominator. The second thing you need to do is conditioning. Most people don’t condition their home. I will get into other videos in this. This is an advantage to use as a seller. Can you imagine going out to a brand new home and the thing is dusty, dirty, and has dings in the wall? It is really hard to show because no one is ever home. They don’t have any floor plans. They don’t have any information to give you on the home. Can you imagine that? _____ would never sell anything.

Marketing

The third thing is marketing. It is a whole other story because I am just amazed agents are in the business. They list homes They cannot take professional pictures. They can’t put descriptions on it. You call them up and you cannot get a hold of them but that is another thing. So when we talk about pricing but it is important that you know all of these things what it takes to sell a home. So pricing; let me give you some statistics by the National Association of Realtors and take this with a grain of salt. I know a lot of people are not going to like what I have to say because it will probably hit you between the eyes and some of you are just in flat denial but I hope this helps and I don’t mean to be too straight forward with you but I think that is what deep down people really want because we all know most realtors are like politicians they will say anything to get your listing and unfortunately sellers fall for that all of the time. So anyhow, let’s take market value. If you price your home at market value you are only going to have it open to 60% of the home buyers and people say 60% what about the other 40%? Well you have to keep in mind people are looking for homes for different reasons. If someone is buying a home and they are an investor and they want to rent it out, their number one goal is, is it going to rent fast and what can I rent it for. What is my rate of return? If someone is buying a home and they want to fix it up and flip the home well they are going to have to get a really good deal so there are different reasons why it is only 60% but if you overprice your home by just 10%. Okay so your homes were worth $200,000 let’s say and you decide well I’m not in a hurry let me overprice it and let me put it at $220,000 because the buyers are always going to want to negotiate. Well that is what a lot of people think. So they price it at $220,000. The problem is they have just gone from 60% of the market to 30% of the market like that. They have just eliminated half of all the buyers and of course the name of the game is how many people can you get in your home.

Spend time wisely

So the second thing is let’s take the number of weeks in the market. A lot of people know this and I get this if they have sold homes before. They always say well why is it that it was really busy in the beginning and now it has really slowed down. I have not been getting hardly anybody. Depending on the price range of your home and the marketing that your agent does, the average time period is 1 month. You are going to see after about 4 weeks, 3 weeks or 4 weeks the buyers are going to really start trailing off. Don’t think if you get a bunch of buyers in the first week or two weeks it is going to be like that the whole time. No it is going to really dip so it is really important. Again you have a small window of opportunity. If I go out to a home and it is say $100,000 in our area. If that home has not sold within the week I’m thinking this thing has a problem with pricing because we are going to get a ton of people. There are a lot of fish swimming in that sea. If it is a $400,000 home I understand it is not going to sell in a week or two weeks but you have to have a goal. You have to go in with a game plan.

The third is and this is really eye opening to a lot of people. If you could get the home sold within four weeks you are going to be able to get on average, the National Association of Realtors states you are going to get about 1.9% less for your home. Now a lot depends on the price and a lot of different variables the condition etc. But of course keep in mind price is always the common denominator. If you want to hire an agent that does not do any marketing, that does not return any phone calls, that takes lousy pictures, that does not do videos, that does not write descriptions, well you are going to pay a price. Maybe you paid them less than a commission price but you are going to pay in the overall cost of the sale and again if the conditioning is not there. So if a home sits on the market between 4 and 12 weeks you are going to average 3.6% less than the fair market value of the home. If it sits on the market between 13 and 24 weeks you are going to get 5.6% less. And if the homes on the market more than 24 weeks and of course the longer it is going to start adding up. You are at about 9%. So can you imagine not being in a hurry and instead of getting $200,000 for the home which is what you should have gotten, you get $189,000 or let’s say even worse you should have gotten $200,000 for the home but you didn’t get $200,000, maybe you priced it at $220,000 or lowered it to $215,000 and you lowered it to $210,000 and you lowered it to $200,000 which opened it up to a whole bunch of different buyers. You’ve got a buyer that came in but the problem is it has been on the market 158 days. You are going to get on average about $180,000 for that home. That is how important pricing is. Again don’t…you don’t have to listen to me. Take what I say with a grain of salt but these are statistics and I can tell you that this is true. When buyers are buying homes and think back when you bought a home, they always want to know how long has the home been on the market? Everybody wants to know that.

Contact Me

If you have any questions about selling a home, marketing a home, anything, what is going on in the Tampa real estate marketing please do not hesitate to give me a call at 813-317-4009. I also have a lot of these educational videos on pricing, conditioning, how to hire agents, etc. Go to my video page on my website Tampa2Enjoy or just go to my YouTube channel. I have all this stuff. I hope this helps and I wish you the best of luck. I really do. Take care and thank you very much.

Tips For Home Buyers

Hi my name is Lance Mohr and I’m a real estate agent in Tampa Bay Florida and I wanted to do this video for homebuyers not just first-time homebuyers but even people who have bought two, three, or four homes because I know a lot of times I go out to someone’s home when we are selling it and I start asking them and talk to them about what happened when they bought the home and they just have a lot of horror stories and I mean I’ve heard everything from people getting swindled out of homes to just a lot of really, really bad issues with title and losing earnest money so there are a few things I want to give you some tips that you need to do.

Get Educated

You cannot make an educated decision unless you are educated. And a lot of times what happens is people are very complacent when they are looking for a home. They start going through Trulia and Zillow, they fill out information, and pretty much whoever they talk to they think well I’m just going to work with this agent. I just want to look at homes and they can show homes. Well that is like going to a doctor and saying I can go to any doctor and use them because they just prescribe medication. It is ridiculous. It is the same thing with an attorney or anybody or any professional.

You really need to get educated so when you are looking for home contact realtors and reach out and interview them. Talk to them a little bit, read their bio on their website, find out a little bit about them, ask them questions about how long they have been in the business, do the work more with buyers, do they work more with sellers, and start doing some research just not on real estate agents, look up home buyer webinars to look at especially if you are first-time homebuyer and look at stuff on the Internet if you want to know about how property taxes work read about that.

If you want to know about crime reports or school reports start reading information. The World Wide Web is great but be careful because there is a lot of bad information. There are a lot of bad people out there, real estate agents, lenders, people in general. So really educate yourself because at the end of the day if something happened it is no one else’s fault but your own.

Get educated in what is going on in the market out there. Is it a buyers’ market? Is it a sellers’ market? What is the trend? Is it trending more towards a buyers’ market? Is it trending more towards a sellers’ market? A lot of people really got caught and were surprised when the market shifted because they didn’t understand it but there are signs and there are statistics so get that.

Check for Credentials and Experience

I hate to give you hard love and say that but a lot of times I will go out and I will talk to a buyer and they got swindled out of money or something happened and they just had a really horrible experience and I start talking to them and I’m like why did you work with this real estate agent and they just say,” Oh well they called me back” or “they happened to show me the home” or “they were friend of a friend at work” and the agent did not have any credentials or any experience and has not been in the business.

The same thing goes with the lender, if you’re looking at getting a loan, if you need a loan talk to your real estate agent they should be able to give you at least one, two, three people to talk to lender wise and talk to the lender. Go in and sit down and talk to them about what are the options. I know everyone is into instant gratification market right now that is just our society; everybody wants instant gratification. You want what you want and you want it now and I understand that. I get it. I am the same way but the problem is you are going to get hurt.

What you really need to do is talk to the lender and see what options are available to you and have them don’t just tell you what you are going to do but say what are all my options. Then have them discuss it with you, ask their opinion on what they think and why and do the same thing with the real estate agent. Go into the real estate agent’s office and sit down with them. Go over everything. See how professional they are. Look anybody could show you homes and in all honesty you don’t need a real estate agent to do that. I know this… a lot of this is stuff you are probably just sitting there thinking, “Oh, Lance I already know this, this is ridiculous but you know what, people know it but they don’t do it. I’ve got to tell you I can probably count everybody on my hands and feet my entire career that have actually gone through the proper steps and have actually gotten educated so don’t go with the instant gratification.

Conclusion

This is going to be the biggest financial decision, this is going to be most people’s biggest financial decision so again, if you want to make an educated decision, you have to get educated. If you have any questions about the Tampa marketplace and speaking of which let me just add one more thing. If you have any questions at all about the Tampa Bay area, the Tampa market do not hesitate to give me a call at 813-317-4009. You can get on my website tampa2enjoy and check out all the educational information and free webinars for home buyers and sellers and they are they only take about a half hour. See my Facebook and all my videos on my Youtube channel for more information. Alright, best of luck to you. Good bye.

Wesley Chapel with Lance Mohr

The life of Wesley Chapel

Hi my name is Lance Mohr and I’m a real estate agent, a Wesley Chapel real estate agent and I know the area Wesley Chapel, the communities, and the builders like the back of my hands.  If you are looking at buying and moving to Wesley Chapel this video is for you, that’s why I did it.  I want to give people an overview on Wesley Chapel.  So basically Wesley Chapel is in South Pasco County.  It is considered South Central Pasco county.  It is just off the 75 right above New Tampa; very nice area.  It used to be if you rewind the clock back to probably about 2005 or maybe 2008 or 2009 it used to be considered like New Tampa’s little brother or maybe New Tampa’s little sister.  There were a lot of first-time home buyers and first-time home builders going in catering to the first-time buyer like in Bridgewater, North Wood, and some of these areas but then all of the sudden you have Seven Oaks by Crown Development that went in that was a game changer and they started cutting in streets like they widened Bruce B. Downs, they extended 56th and they just opened up the whole area so there’s just a ton of development; as a matter of fact in all Tampa Bay over 50% of all the residential and commercial development is happening in Wesley Chapel.  It just has a ton of stuff going on; movie theaters are opening, malls are opening, community colleges are opening, and subdivisions that are absolutely off the hook are opening.  It is just a really booming area, very nice.

Distances

A lot of people think well Wesley Chapel is a little far, I live in South Tampa but because you are in Wesley Chapel you are above the 75 and 275 split.  It actually could be quicker to get to areas of South Tampa and downtown Tampa than even New Tampa is and New Tampa is closer as the bird flies.  It is just a really nice area, great schools, very low crime, and people with kids if you have kids they just absolutely love it because there are so many things to do, not just in Wesley Chapel but in New Tampa and Wesley Chapel is just a really, really growing community.  You could basically throw a dart in Wesley Chapel and hit a goldmine. Of course if you are retired, people who are retired I’ve sold quite a few people who are retired coming from the north homes in Wesley Chapel because again they just love it.  So if you have any questions about Wesley Chapel at all or anywhere in that area, homes for sale in Wesley Chapel, New Tampa, Land O Lakes, please give me a call at (813)-317-4009, send me an email at lance@tampa2enjoy.com, and go into my YouTube channel if you are not on there right now.  Go to the search button that looks like the little magnifying glass or something like that and do a search.  Type in New Tampa or type in Apollo Beach.  I’m continually doing these to give people overviews.

New Tampa and Wesley Chapel are both about the same distance.  You are probably looking at to South Tampa maybe 30-35 minutes with no traffic.  If you are looking at going to the airport you are probably looking at ½ hour maybe 35 minutes with no traffic.  If you want to go to the beach if it is the beach off the causeway by the airport which is part of the bay you are looking at maybe 35 minutes.  If you want to go to the beach like say St. Pete or Clearwater you are maybe looking at 1 hour or Sarasota but it is very convenient, great area to live if you are looking in the suburbs.  Alright, I hope this helps and if you have any questions don’t hesitate to give me call.  Visit my website tampa2enjoy.com.  Have a great day.  Goodbye.

There is tons of resource information on my website.  Okay, thank you.