Tampa Real Estate News – December 2014 Market Statistics

Above are the most accurate real estate statistics. The December 2014 data was taken directly from MFRMLS. The MLS provider for all real estate agents in Central Florida. If you have any questions please give me a call or send me an email.

2014 was a good year for real estate in the Tampa Bay area. Prices went up a little higher than the rate of inflation. This was mainly due to the low level of homes for sale in the market, opposed to a high demand of buyers wanting to buy. 2015 is looking at being an even better year as inventory will still be quite low and home prices should increase at a good rate as well.

Expect the home-purchase market to strengthen along with the economy in 2015. Here’s what Frank Nothaft (Freddie Mac‘s chief economist) had to say last month: “The good news for 2015 is that the U.S. economy appears well-poised to sustain about a 3 percent growth rate in 2015 – only the second year in the past decade with growth at that pace or better…”

If you are looking for the most accurate home search tool in all Central Florida – click here.

Tampa Real Estate News – November 2014 Market Statistics

Above is a screenshot video of the Tampa real estate market statistics for November. This information is pulled directly from our MLS in Central Florida. I pull all single family homes in Hillsborough County.

If you have any question about real estate in Tampa Bay, Florida please visit my website and give me a call.


Short Sale Tax Break Passes House – Mortgage Debt Forgiveness Act Extension

Flipping Real EstateThis is great news for all the home owners who have done a short sale in 2014. The Mortgage Debt Forgiveness Act expired f last year. But the U.S. House of Reps just passed a bill the will extend it through 2014. Check out the full story below.

Short-Sale Tax Break Passes House, On To Senate
A bill that would extend a key tax break to tens of thousands of financially distressed homeowners who sold their homes this year for less than they owed passed the U.S. House on Wednesday and is headed to the Senate for consideration.

A one-year extension of the Mortgage Debt Forgiveness Act, which expired Dec. 31, 2013, was included in the Tax Increase Prevention Act of 2014 and passed the House on Wednesday on a 378-46 vote. Dozens of other temporary tax breaks that expired but would get a reprieve until the end of this year under the measure include those for home energy improvements and mortgage insurance premiums.

But for homeowners who gambled this year and sold their home through a short sale, unsure about the tax ramifications, this is the one foremost in their minds, as it is for the housing market in general.”

If you have any question on selling your home through a short sale please give me a call. I have been doing short sales since 1999 and have worked with hundreds of people helping them.

Short Sale Tax Implications – Short Sale Tax Consequences – 1099 Cancellation of Debt

Home Selling Tips – Pictures

I did this “Home Selling Tips” video to tell home owners how important pictures are when selling a home. Of course it all starts with hiring the right Realtor. So I also go over a couple basic tips for making sure you hire a very good agent.

If you have any questions about selling a home please give me a call.

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.

The Real Estate Must-Haves No Buyer Should Overlook

Image of Real Estate for Sale in Tampa, FLIn the world of buying real estate, it is important to know what you are doing so that you don’t get taken for a ride. That is where a lot of research on real estate buying protocol comes in handy. Follow these tips to help you get a good deal when purchasing real estate and to avoid scams.

Determine if your desired property is in an economically viable area. Find out if property values in the area are rising or declining. Check with your city’s economic office about the recent history of income from the area. This can be a determining factor in whether or not the property will appreciate or not.

Take the time to investigate the inspector for your potential property. You should make sure that they are certified, work for a reputable company and if possible are with an inspector association that is non-profit. If not, their credentials may be supplied by a non-reputable organization that supplies them for nothing more than a fee.

If you’ve dreamed of having a vacation home, now is the time to buy. Home prices have gone down in popular vacation destinations like Florida, Las Vegas, and California, and so have interest rates. It sounds risky, sure, but as they say, you have to spend money to make money; and you can easily rent out your second house while you’re not using it. It’s definitely a good time to buy.

By searching for the best prices one can assure that they will be making the most of their money. Homes that have been foreclosed on can be found for attractive prices although more money may be needed to be invested in the home. Other homes can be bought for more but may require less money invested.

Potential buyers should be sure to get everything in writing. This is especially important when working with a builder, as options and upgrades which are verbally promised may not end up being honored. Make sure you have a knowledgeable Realtor that knows about new construction and a the local builders. This can help you to avoid frustration and confusion during and after your home closes.

One important tip when it comes to real estate is to make sure that you do your homework on what agent to choose. This is important because this may be the largest investment of your life and you need to make sure you are in good hands. Be sure to do background checks, read reviews, and try to find out their track record.

When you are moving, pack a suitcase full of things that you may need for a few days. Include things like clothing and toiletries. Keep this suitcase separate from everything else so that you can have easy access to things that you would need until you can get totally unpacked at your new home.

As you can see from the previous list of tips, buying real estate can be quite an undertaking even if you have done it before. It takes some work, research, and common sense to avoid making a poor purchase, but it is all worth it in the end to make a smart property purchase.

Please give me a call so I can help you with your real estate needs.

Overview of Fishhawk Ranch in Lithia, FL


Below is the transcript for Fishhawk Ranch overview:

Hi everybody, my name is Lance Mohr and I’m a real estate agent in Tampa, Florida and I’m doing these overview videos on the cities around Tampa because when you are buying a home there is nothing more important than deciding where to live.  When I work with home buyers I don’t like telling people where they should live.  What I like to do is ask a lot of questions to get an idea on what type of area you like.

Today I’m going to do an overview of Fishhawk Ranch in Lithia. Fishhawk Ranch is in the south part of Hillsborough County.  It is off of Interstate 75 and about 8 miles to the east.  The downfall is that it’s out there quite a ways – but there are a lot of pros about Fishhawk Ranch.  First off, when it was built it was touted (even today) as the best place for families and it really is one of the most family friendly communities in Tampa Bay..  It has phenomenal schools; the elementary, the middle school and high school are all “A” rated.  For people who work at MacDill Air Force Base, there is a bus that takes you to the base; which is a huge advantage to a lot of people so they don’t have to drive.

Fishhawk Ranch splash poolAs far as families and kids go, the homes are all over the board.  You can find starter homes all the way up to very high-end luxury properties by custom builders. The amenities for children are really off the chart.  They are almost like being in a resort in Orlando.  There is an aqua water park.  There are multiple pools and tons of things to do like walking trails and biking trails. Every Friday and Saturday night at the pavilion (main area) they have different activities going on.  There might be an art day.  There might be a music festival.  There are just tons of things for kids to do.  There are tons of things for families to do and it is really, really nice.

One of the problems is that Lithia is sort of isolated and there’s really nothing else in Lithia but Fishhawk Ranch.  You are quite a ways if you want to go to a movie or if you want to go to a restaurant.  There are grocery stores, there are drug stores, there are restaurants in Lithia but there are not a lot of them.  Most people who live in Fishhawk Ranch are going to drive to Brandon for shopping, restaurants, movies, etc.

View all Fishhawk Ranch homes for sale

If you have kids and you are looking for a really kid-friendly area I would definitely check out Fishhawk Ranch.  It is a very nice place.  It is very clean and people with kids love it.  Depending on where you work Fishhawk Ranch may or may not be right for you.

If you have any questions about Fishhawk Ranch or the areas don’t hesitate to give me a call.  I do these videos again because I want to make sure you pick the right area.  The last thing in the world you want to do is pick a place to live and then after you buy the home you find out wow I’m in the wrong place.  Then what do you do?Fishhawk Ranch boardwalk

There’s tons of great information on my website.  You can get information on school reports, crime reports, the lifestyle searches…  If you want to know where different health clubs are, hospitals, restaurants, or schools you can look in the lifestyles search and it will tell you where everything are.  It is really, really great.  I also have a lot of educational videos in the tab under “videos”.  If you are not familiar with Florida property taxes and you want to know how they work or maybe you are not familiar with what CDD fees are or newer homes – you definitely need to be familiar with them.  If you need to know more about how short sales or bank-owned properties there’s tons of great information.

Don’t hesitate to give me a call if you have any questions.   I would love to help you out and answer any questions you might have.  Just go to the contact page of my website and either fill out a form and I will reply back or just give me a call.  Have a wonderful day and I wish you the best of luck.

Overview of South Tampa Homes For Sale

Hi everyone, I’m going to do an overview of South Tampa / South Tampa homes for sale. I do these videos to give potential home buyers a better understanding of the different area in and around Tampa, FL. I don’t believe Realtor should steer home buyer into an area just because they like it and live there. I like to tell customers about the different areas and let them make the decision for themselves. Of course, I will give my input based on our conversation. If you are looking to buy or view any South Tampa homes for sale please go to my South Tampa web page and get the most accurate information.

Below is the transcription of South Tampa Overview:

Hi everybody my name is Lance Mohr and I’m a real estate agent in Tampa, Florida and I’m going to do this overview to go over South Tampa and South Tampa homes for sale. I do these overviews to help people.

Most people who are going to be in South Tampa really know up front where they want to be. South Tampa, like any big city, this is the nucleus. This is where everything is. You just have a certain energy level in South Tampa that you don’t have further north or in the suburbs and people generally know that. Now most people, when they say South Tampa, they are really looking at everything from Kennedy which is just below Interstate 275. South of Kennedy you have everything such as restaurants, night clubs, car dealerships, convention center, waterfront homes and you are sitting right on the bay. Now one thing about the bay, it is not a place where you are going to go swimming. It’s brown murky water, but it can be beautiful. A lot of people who like really breathtaking sunsets are probably going to be more on the west side of the South Tampa. The east side is more Bayshore Blvd. and big huge high-rise condominiums overlooking the water. There are homes of every kind. There are little itty-bitty condos of 800 or 900 square feet, single family homes, all the way up to this huge McMansions sitting on the water, to penthouse condos. Like any major city, it is going to be expensive. You are paying for the area; location, location, location. That is why in areas like this they build up and they don’t build out. It is not too unusual for someone in an area to go and pay $200,000 for a home, rip the home down, and build a really big home there. You can pay $400,000 for just a lot in South Tampa or even more. You have some of them that are on Davis Island that are even more expensive than that.

If you are looking and you really liking that energy level and you really like to be in the action where everything is; South Tampa is a great place. It has condominiums, it has townhomes, it has a bunch of single-family homes. You can buy $150,000 home in South Tampa and two blocks away there are multi-million dollar homes. You can be in a multi-million dollar home and of course two blocks away there is a $200,000 home. So it just depends and there is always turnover in South Tampa. There are new homes, but predominantly you will find pre-owned homes. South Tampa pretty much started in the 1910s – 1920s, with all the cigarette factories from Cuba. South Tampa has a lot of vibe and a lot of things in the area and a lot of stuff to do. It is the nucleus of the city.

If you have any questions about the South Tampa homes for sale, the areas, anything around South Tampa don’t hesitate to give me a call. If you want to get information on school reports, crime reports it is all on my website Tampa2enjoy.com. Have a look at the lifestyle search and enter a zip code or an address and find out where the health clubs are, where the schools are, where the hospitals are. By the way on Davis Island which is in South Tampa, you have Tampa General which is known as one of the best hospitals in the country. I have a lot of great information on my website. Check it out; videos and how property taxes work, how short sales work, how bank-owned properties work, again if you have any questions on South Tampa, the condos, the homes for sale or any area in Tampa Bay don’t hesitate to give me a call or shoot me an email. I hope this helps you and I hope you have a great day. Thank you. I wish you the best of luck finding a South Tampa home for sale and I hope to hear from you.