Estancia at Wiregrass Ranch Homes

estancia at wiregrassEstancia at Wiregrass Ranch Homes is the first retail-residential development of the Wiregrass Ranch Project. 1181 homes sprawled over 677 acres are available for purchase. After the development of residential, retail, office and recreational spaces, Wesley Chapel will become home to 15 constituent neighborhoods, and reinforce its more-recent image as a pleasant suburban town with luxury communities.

A look at the Wiregrass Ranch Project

Wiregrass Ranch is a mixed-use residential, retail, hospitality, educational, office and civic development projected to be completed over a ten-year timeframe. Upon completion, it will be the biggest mixed-use complex in the Tampa Bay Area.

Development is led by well-known luxury home builder Standard Pacific, which bought part of the Wiregrass Ranch property in January 2013 with an initial plan to build over 1000 homes. Standard Pacific has reportedly spent $44 million in property and restructuring expenses to prepare the land for construction.

The Porter family owns the 5,000 acre Wiregrass Ranch, which will transform the land that has served as a cow pasture since World War II into a mega-mix. The family is involved in ensuring that the development is organized and enriches residents’ lives.

Wiregrass Ranch was originally expected to include 13,026 homes, but the number was cut to 12,000 to allow more commercial development. Besides single-family and multi-family units, 600 hotel rooms, a new 18-hole golf course, a sheriff’s office, county park, fire station and three elementary schools will be developed. The master plan has been carefully thought-out to create a balance that provides the community with the best of fine living not just for the present, but also for the years to come.

An Overview of Estancia at Wiregrass Ranch Homes

Estancia at Wiregrass will consist of four neighborhoods, three of which will be gated. The units will feature Mediterranean style architecture. Each neighborhood has been planned to center around a clubhouse built in a style similar to the homes. The clubhouses will feature a zero-entry swimming pool, junior Olympic pool, tennis courts, basketball courts and fitness center. It will also include a playground, cabana, palm plaza and garden. Overlooking a lake, the neighborhoods’ amenities are expected to be in line with the luxury communities dotting Wesley Chapel’s landscape.

Estancia at Wiregrass Ranch Homes is expected to be marketed as a more affordable option to similar Tuscan-style neighborhoods. Its signature community towers, ornamental lighting and brick paver accents are expected to be a draw for buyers seeking a more aesthetic and luxurious setting.

Interstate 75 offers easy access to downtown Tampa and USF. Quick and convenient access to a hospital, college, shops, restaurants and public schools is also a strong selling point for potential home buyers looking at new residential constructions in Wesley Chapel.

The Shops at Wiregrass

Residents are spoilt for choice when it comes to shops, restaurants and entertainment. The Shops at Wiregrass, located a short distance away, features a JC Penney, Barnes&Noble, Macy’s, Pottery Barn, The Body Shop, Dillard’s, and a host of restaurants and specialty stores.

For more information, give me a call anytime at (813) 317-4009. There is a lot more free information on my website at Tampa2Enjoy.

 

 

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.

Three Great South Tampa Neighborhoods

South Tampa is home to some of the city’s most hippest, historic and affluent neighborhoods. Diverse architectural styles, beautiful sidewalks and an electric downtown make the area a desirable place to live. Three great South Tampa neighborhoods, in particular, make it to home buyers’ lists – here’s a quick look at each.

Bayshore Boulevard: Historic Waterfront Neighborhood

A waterfront boulevard like none other, Bayshore’s unique feature is its 4.5 mile continuous, winding sidewalk, which has the distinction of being the longest of its kind in the world. Its location along the Hillsborough Bay provides scenic water views. Locals can be seen biking, jogging or rollerblading on the Bayshore Greenway Trail.

The South Tampa neighborhood extends from the southern edge of the city to downtown Tampa. Proximity to the downtown makes shopping, dining and entertainment quickly accessible. Businesses and the Tampa General Hospital are also located at a close distance, making commute a breeze.

Bayshore Boulevard’s real estate inventory is quite diverse. Big and elegant homes co-exist with condominiums built in different styles. One of the three great South Tampa neighborhoods, it is also known for its historic homes that line the road in stately fashion. Quite a few homes, especially condos in high-rise towers offer great views of the bay and the city.

Channelside District: Brimming With New Constructions

Located to the east of downtown Tampa, Channelside District has witnessed a boom of skyscrapers and high-rise condos in recent years. Modern lofts have replaced old warehouses and the development of new apartment communities has transformed the look and feel of the neighborhood.

Channelside is partly residential, partly commercial, making it a good choice for buyers seeking entertainment and nightlife opportunities without having to travel long distances. The Channelside Bay Plaza is the neighborhood’s dining and nightlife hub. It houses an IMAX theatre and an open-air live music center offering great views of the port, cruise ships and skyline. The Washington Street Park, featuring an off-leash dog area, is frequented by pet owners. The Tampa Bay Times Forum hosts NHL games, concerts and a variety of events. The Florida Aquarium and TECO Line Streetcar stops decorated with local public art are other attractions in the area.

Hip and urban, Channelside District is a vibrant neighborhood catering to a large cross-section of home buyers.

Historic Hyde Park: One of the Three Great South Tampa Neighborhoods

Hyde Park is one of South Tampa’s best known neighborhoods. It includes the sub-neighborhoods of Hyde Park Village, Bayshore Boulevard and SoHo. It is located next to the downtown, and University of Tampa, and bound by Hillsborough Bay, Armenia Avenue, Kennedy Boulevard and Bayshore Boulevard.

One of Tampa’s oldest communities, Hyde Park’s history dates back to 1879. Its 19th and early 20th century Victorian estates and bungalows give the neighborhood an old-world charm. Some old homes have also been renovated, but the area has retained its historic look and feel.

Jogging and biking are popular recreational activities along the bay shore. Locals can also be seen enjoying walks on brick streets on the way to the downtown. Despite its proximity to the shopping and dining hub, Hyde Park has a quiet atmosphere. It is also a leafy neighborhood with tree-lined streets, lots of shade and manicured lawns.

The Hyde Park Neighborhood Association welcomes new residents and takes up issues of community interest with the city government.

More content on the Three Great South Tampa Neighborhoods can be found on my website at Tampa2Enjoy or by contacting me by phone at (813)-317-4009

 

Wesley Chapel: New Homes in Suburban Neighborhoods

Wesley Chapel is a mid-sized town located in Pasco County. A 20-minute drive from University of South Florida, it has undergone a transformation in recent years from largely undeveloped land to thriving residential communities. New shopping centers, restaurants, homes, apartments and condos have come up, with more in the works. Not surprisingly, it has attracted the attention of home buyers seeking big city amenities in a suburban neighborhood.

Wesley Chapel Communities

Wesley Chapel is composed of many constituent subdivisions, with a new one – Wiregrass Ranch – featuring gated and non-gated neighborhoods being developed presently. From the Georgian and Plantation homes of Brookside; golf course residences of Lexington Oaks and country homes of Quail Hollow to well-equipped resort communities, Wesley Chapel offers diversity in architectural designs, lifestyles and prices. The abundance of new construction gives first-time homes buyers the opportunity to own their piece of heaven in a pleasant, friendly town. The new luxury communities have modern amenities like swimming pools, spas and sports and recreational facilities to cater to the demands of modern living.
Affluent buyers and property investors also have the choice to snap up exquisite, stately homes in Northwood and Brookside.

An ethnically-diverse town, it is home to a White, African-American and Hispanic population. English and Spanish are the common languages spoken in the area.

Dining, Shopping and Recreation

Many of the town’ self-sufficient communities maintain their own nature and fitness trails. The Wesley Chapel District Park has lighted fields for soccer and baseball, a fitness trail and basketball courts. Residents use the popular 8.5 mile Bruce B Downs multi-use trail to connect to the many paved and unpaved trails of Flatwoods Park. The town is also home to multiple golf courses, including Quail Hollow Golf Club, Saddlebrook Resort and Pebble Creek Golf Course.

Residents enjoy a host of shopping opportunities, though getting to the shops and restaurants can take a while during peak congestion times. The Shops at Wiregrass include JC Penney, Macy’s, Pottery Barn and Dillard’s to name a few. The Grove at Wesley features Bath and Beyond, Best Buy, Ulta and Dick’s Sporting Goods. From the 300 different bottle beers at The Brass Tap to authentic Italian gelatos at 365 Café Italiano and gourmet burgers at Red Robin, there is much to savor at the area’s restaurants, bars and cafes.

Many new businesses have come to the area over the years, with more expected to serve the community in the near future. The local economy is supported mainly by the hospitality and retail sectors.

Getting Around

Commutes can be quite long, averaging half an hour back and forth from work. Interstate 75, though quickly accessible from just about anywhere in Wesley Chapel, can get congested during peak hours. State Roads 54 and 581 are the major roads connecting to other cities of Pasco County.

Families with kids have a good choice of public and private schools. University of South Florida and Saint Leo University are the higher educational institutions serving the community.

Visit my website at Tampa2Enjoy or check out my facebook page for all the free information you want. Give me a call anytime at (813)-317-4009.

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.

Tampa Waterfront Properties- Tips for buying/owning a boat

Hi my name is Lance Mohr and I am a real estate agent in Tampa and here is another video on buying waterfront homes in Tampa and to give you a tip on what you need to do. It really does not make any difference if you are looking for Tampa waterfront properties whether it is a home or whether it is a lot do your due diligence, don’t just rely on the real estate agent.

Getting reliable info

Let me give you an example. Let’s say you want to be on the water, whether it is on the golf or intercostal and you have a boat and maybe it is a 30-foot boat or even a 30-foot sail boat and you need a certain depth of water. Don’t just ask the listing agent to ask the seller what the depth is, call around and as always, I don’t mind calling for buyers. The problem is if I get wrong information, that wrong information is going to be passed along and I don’t really like the liability.

There are a couple of things that you could do as a potential home buyer if you are looking at buying waterfront properties. You are going to do a couple of things, one is call different marinas. Tell them where you are looking at buying and what the address is and they can help you out and tell you most of them know especially if they are a marina that is local they are going to know and if there are a couple of marinas call a couple of them and get some ideas. The best thing to do though is when you are in the neighborhood drive up and down the street and find someone who has a boat maybe similar to the size you are buying and get out and knock on their door.

The thing about people and I know people pretty well being in this business, people love to talk about themselves, they love to talk about their kids, and they love to talk about their home. If you have questions they are going to be more than willing to help you out. They probably may or may not have had those questions if they were looking at the waterfront property so check it out and do your due diligence because you don’t want to buy a home and then find out that the depth of the water to be is going to be wrong.

Get a hold of me

If you have any questions or concerns about any homes in Tampa, any waterfront properties, or anything don’t hesitate to give me a call now at 813-317-4009, I would love to answer your questions and help you out. More valuable information is free to the public on my website at Tampa2Enjoy, Please check out my Facebook and all my other videos on my Youtube channel or on my website video page. I wish you the best of luck. Take care.

April 2014 Real Estate Market Statistics

Transcript:

Hi, this is Lance Mohr with Future Home Realty and I wanted to go over the real estate market statistics for April 2014. And most people have watched these before, but just so you understand these statistics are for single-family homes in Hillsborough County.

Now if you own a home in the Central Pasco County there is like Wesley Chapel, Land O Lakes then I would go off these statistics because they are a little bit more relevant than probably the Pasco statistics because Pasco plays into to affect Zephyrhills, Hudson, and New Port Richey which are a lot slower.

Anyhow, let me just go over this: Most everything looks pretty similar to what it did last month, as you can see right here the active inventory jumped up a little bit by about 29 homes. You have the inventory right here: pending sales jumped up quite a bit from about 3370 to 3566 so that is a pretty good jump. It definitely shows you the marketing is going really well. You have down here under sold, the sold homes in April as you can see jumped up about 100 homes as well. So again things are going really good.

Overall, I think home buyers don’t think the market is as good as it is and I think a lot of home sellers actually think the market is deader than it is, so I would just keep in mind where we are in the market. The inventory is low. You can see right here the inventory has gone down. It was down and in three months. It jumped up to 8 in January, 5-1/2 months went down a little bit in February to 4.87 months. In March it was 3.92 months and in April 3.66 months. Of course keep in mind a stable market is about 6 months of inventory or it is not really a buyer or seller’s market so it definitely is a buyer’s market especially if you are under 200 or 250. But let me just point out one thing that is a little bit not too surprising because I have been talking about it since October of last year but it might surprise a lot of people. If you look right here under the actives and look at what the short sales are doing.

Let’s just take in January. They were 10% of the market and now they are 9% of the market. You are not seeing a huge difference on homes that are pending in January they were 46% of the market. In April, they were 36% of the market. Here is a thing that might surprise a lot of you and I’ve been saying since October this is what was going to happen with what is going on with the Relief Act not getting passed. In January, the amount of short sales that were closed were 12%. In April, just 4 months later it has dropped literally in half down to 6%. You can see what the bank owned did. The bank owned was 23% in January, fluctuated a little bit and now they are about 23% so they pretty much stayed the same. As you can see traditional sales have gone from 64% of all the closings to 71% but it is the short sales that are staggering.

What is going on is a lot of banks are just not telling people they can do short sales and people are going through the whole process and waiting 2, 3, 4, and 6 months and then they are just denying the short sale all in all or they are just being so absurd about what they want it is just not working out. So just keep that in mind if you are doing a short sale you really need to hire someone who knows what the heck they are doing. This is not one of those things you just want to assume every realtor is the same or you can literally pay tens of thousands of dollars more for that mistake.

April 2014 Statistics for Buyers

If you are buying a home, just understand there is a good possibility the bank may reject and have your real estate agent ask a lot of questions:

  • Who are the banks?
  • How many banks are there?
  • How cooperative is the seller?
  • Have they gotten their package ready or have they even gotten a short sale package?

There are a lot of things you need to ask up front or your agent should be asking. Again, I know a lot of buyers like to think all real estate agents are the same but believe me it is like anything, they are not.

So we go over to individual statistics over here and as you can see when we are in the $100,000 to $200,000 range you can see how low the inventory is. It is 2.83 months there is very low inventory so if you are looking under $200,000 and you see a home you like, you need to write an offer and a good offer and assuming it is a good valued home, and of course if it is overpriced you are not going to want to make an offer on any house so that answers that question.

As far as homes from $200,000 to $300,000 a little over 4 months of inventory; that is still very low based off of this price range. Keep in mind the 6 months of a stable market is based off an average-priced home which in the Tampa area is around $180,000 so a $200,000 to $300,000 home those are above average and they have a very low inventory level. The same thing with $300,000 to $500,000 and the same thing with over $500,000; I mean you can’t look at this and say okay well the homes $385,000 in the inventory level is 5.71 months. If a home is at that value it is almost twice the market value of an average home but still the inventory level is less. So just keep that in mind when you are a buyer.

April’s Statistics for Sellers

When you are a seller again, you just have to get everything done. Buyers right now in today’s market are very, very fickle. They are just not wanting to go in and some of them just don’t have the money to go in and start putting a bunch of money into a home in interior and exterior paint, redoing kitchen cabinets or countertops, redoing floors, redoing fixtures. You really need to spend a little money up front and get this done. I would personally hire an interior decorator to make sure all the colors flow and match well.

April 2014 Conclusion

So that is really where we are in the market. If anybody has any questions please don’t hesitate to give me a call. You can email me on this information right here. Here are some more of my websites. It’s not really coming through that good but you can always go on my home buyer website and do a webinar and go to tbbuyerwebinar.com. If you are looking at selling a home you can go to the free seller webinar. They are done twice per week at tbsellerwebinar.com. TB stands for Tampa Bay.

Alright have a great day. Thank you. If you have any questions let me know. Please like my webpage if you go on there and have a great day. Thank you.