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Tampa, FL Real Estate News

By Lenny Gurvich
(Keller Williams Realty Tampa, Florida)
As I was heading to a pre-closing inspection of a new townhome this morning I happened upon the sign in the photo above. What could this possibly mean? Who was responsible and why did they need to post this sign here? So off I went to get the definition of “suck”. It seems that the best definition available for this discussion is is “to attract by using an inexorable force”. Great, but what does inexorable mean? I believe adamant or persuasive works best here. Yes then. Condos sucked many buyers into Florida from all over the world over the past few years. I see the sign makers point. Many buyers were persuaded to buy condos in Florida and supply had a hard time keeping up with demand. New condos were built and many apartment complex owners converted their apartments to condos as the s...
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By Russ Perlowski, Tampa Real Estate
(People's Choice Realty Services LLC)
 HGTV is coming to Tampa and is looking for a few good homes / homeowners for the filming of the show: What You Get for the Money. Looking for homes from $150,000 to $1 million in value, HGTV's website indicates they are looking for the "snappiest, most appealing, charming and/or hip homes", and that they are looking for:Unique, magazine-ready architecture or design elements Eye-popping details inside and out Engaging homeowners excited about sharing their city and their home with the rest of America.Since they are planning on coming to Tampa in January, interested Tampa homeowners should hurry and contact:Mindy Christiansen at (303) 712-3148 or e-mail her at wyg@highnoonentertainment.com!
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By Russ Perlowski, Tampa Real Estate
(People's Choice Realty Services LLC)
Reviewing the reported statistics for LISTINGS and SALES in the Greater Tampa Area* since January 2003 revealed the following information:We reached the highest MONTHS OF INVENTORY in November 2006 ------  12.31 compared to a low of 1.20 in June of 2005.The highest average sales price since January of 2003 was reached in June of 2006, with an average sales price of $287,019.The lowest AVERAGE Days on the Market was hit in July of 2005 --29 DOM (which also was the highest units sold month during the period Jan. 2003-Nov. 2006), and the highest DOM was in January of  2003 -104!     November of 2006 was 76.  The range of DOM in 2003 was a low of 86 and a high of 104.Lots of numbers here, but what stands out most to me is that listings are not on the "reported" market as long as they were i...
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By Jonathan Greene
(Team Greene Realty)
This is our semi-retarded commercial designed to attract the blogging generation to our website.  I've been told that videos can be a great way to boost traffic to the site....so....follow the link, folks.http://www.youtube.com/watch?v=69GxHRUfo6AP.S.  It's supposed to be stupid, so don't bother.
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By Russ Perlowski, Tampa Real Estate
(People's Choice Realty Services LLC)
The group 1,000 Friends of Florida contracted with the University of Florida's GeoPlan Center for population projections for the State of Florida in the year 2060.  Additional detailed information provided in this study can be obtained from their website.Some interesting projections for Central Florida (Brevard, Citrus, Hardee, Hernando, Highlands, Hillsborough, Indian River, Lake, Manatee, Marion, Okeechobee, Orange, Osceola, Pasco, Pinellas, Polk, Seminole, St. Lucie, Sumter, Volusia):2005 Population for Central Florida:  6,595,259.    2060 Est. Population:  15,478,239  Increase:  8,883,980Several counties are expected to "build out" between 2020 and 2040, including Hillsborough & Pinellas!Least change of all central Florida counties will be Pinellas because "more than 70 percent is a...
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By Russ Perlowski, Tampa Real Estate
(People's Choice Realty Services LLC)
The rezoning hearing for the new condominium project proposed north of Lake Forest in the New Tampa area had been scheduled for December  18, but nearby residents have requested moving the date to January 10th due to the holidays.  This project involves building almost 1,500 condos in "high-rise" type buildings including elevated parking and is opposed by local residents over concerns of traffic congestion on Bruce B. Downs.  Also included in the project are 30,000 square feet of office space and 55,000 square feet of retail space. 
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By Russ Perlowski, Tampa Real Estate
(People's Choice Realty Services LLC)
Cory Lake Isles The boulevard entering the Cory Lake Isles community of New Tampa is lined with majestic Canary Island Date Palms and other palm trees & tropical plants providing for a very impressive entrance to all.  Gated and guarded, you will find an exclusive community of homes.  Many of the homes are located on Cory Lake and have docks for boats.  Additionally, some of the villages in the community are also gated, hence considered "double gated".  The main street circles the lake and is constructed of hand laid bricks. Single family home prices of homes sold in this community ranged from the $200's to over multi-million dollars. For a virtual tour of Cory Lake Isles, click on the photo below of the entrance to this community!                                                          
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By Russ Perlowski, Tampa Real Estate
(People's Choice Realty Services LLC)
Currently, the homestead exemption for home owners in Tampa is $25,000.  Seniors whose income is below $20,000. qualify for an additional $25,000 exemption.  Tampa City Council is now considering raising the exemption for qualifying low income seniors from $25,000 to $50,000 on homes assessed higher than $75,000.  This would provide low income seniors living within the city of Tampa a $75,000. homestead exemption.  This comes at a time when counties and the state of Florida are all looking at approaches to provide tax relief to home owners. Tampa estiimates that about 2,400 Tampa home owners would qualify. 
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By Lenny Gurvich
(Keller Williams Realty Tampa, Florida)
 As we approach the end of the 2006 and with the holiday season upon us, the supply and demand of residential real estate in Tampa remains flat. The number of active listings as well as the number of pending listings has not changed much since mid-October when these numbers began to flatten out. New listings, of course, had been on the rise steadily through the first 3 quarters of the year, while the number of listings with buyers under contract has fallen steadily since mid-April. As far as supply and demand goes, conditions are pretty stable. That noted, inventory is still very high at 7543 active units, while only 1679 sellers have a buyer under contract. Listings that expired since November 1st number 657 while another 1231 listings were withdrawn during the same period. But with i...
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By Lenny Gurvich
(Keller Williams Realty Tampa, Florida)
December 14th, 2006 The Hyde Park neighborhood of Tampa was originally developed in the early part of the 20th century and is situated near the mouth of the Hillsborough River and in the shadows of downtown Tampa. The predominant architecture is of an American Craftsman style and many of the homes have been well preserved. Native Dwellings, LLC is a Tampa company that specializes in constructing and renovating South Tampa area homes with the intent to blend the character and quality of the past with today’s technology. One of their most recent and notable projects has been the major restoration of a 1923 bungalow at 1812 Hills Avenue. This home sits within the Hyde Park Historic District where home restorations have to fall within certain guidelines. Listed at $1,749,000, the home has b...
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By Randy Zalis
(Channelside Realty Group)
2007 should be a very active year in Channelside (Tampa).  The Grand Central, The Place, The Towers, & Ventana will be completed.  The Slade at Channelside is on-track for a 2007 construction start.  Several additional projects have been approved by Tampa City Council.    What are your thoughts?   
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By Lenny Gurvich
(Keller Williams Realty Tampa, Florida)
In our current buyers’ market we know that price reductions are common and most buyers don’t expect to offer or purchase a home at the full list price. Very few homes are selling at 100% of list price. Buyers sense no competing bids and are thus inclined to come in with a very low opening offer. Some buyers are finding motivated sellers and these buyers are getting big price reductions and many of the homes are some of the higher priced. For instance: A brand new home on Bayshore Blvd in South Tampa that was listed at $3.3m recently sold for $2m according to our MLS, or about 62% of the listed price. Typo? Non-arm’s length deal? Or maybe just a seller looking to dump while the dumping is good?Another, In the Culbreath Isles neighborhood, recently sold at a little over 78% of asking pri...
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By Russ Perlowski, Tampa Real Estate
(People's Choice Realty Services LLC)
The auction of 100 units of The Hamptons in Tampa Palms, in New Tampa was held on Saturday at the Grand Hyatt Tampa Bay on Saturday.  40 of the 100 units scheduled for auction had no reserve price.  Questions still remain about liens on the condo conversion.  The Tampa Tribune reports that the president of the Tampa Plams Owners Association, says that The Hamptons didn't pay dues last year and still owes the Association about $50,000.  The Tribune further reports that one owner of two condos in The Hamptons has spent $10,000. on lawyers because "liens and bills keep arriving".                                                                                                         It will be interesting to see what The Hamptons owners will do as a result of this auction.  Known for being ...
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By Russ Perlowski, Tampa Real Estate
(People's Choice Realty Services LLC)
Taylor Woodrow Homes, M/I Homes, and Mobley Homes plan to build on the former K-Bar Ranch in New Tampa.  Each of the builders has 100 lots each in the community that will be called Bassett Creek and it is reported that all the homes will back up to lakes or conservation areas.  Home prices are estimated to start in the mid $300,000's and go up to $600,000, with varied elevations from French Colonial to Craftsman.Mobley Homes is seeking approval for an additional 900 homes and a town center on the former K-Bar Ranch, but wants permission to connect to Meadow Pointe, in Pasco County.  The builder wants to connect to Mansfield and Pasco Planners have been saying that the road is too narrow for additional traffic and wants the builder to connect to the recently completed Meadow Pointe Boule...
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By Russ Perlowski, Tampa Real Estate
(People's Choice Realty Services LLC)
159 new town homes will be built in Arbor Greene and will be priced in the high $200's.  The three story town homes will offer 3 and 4 bedroom floor plans will have 3.5 bathrooms and between 2,427 & 2,549 square feet.  The T. Homes will also have two car garages and 1/3 will have elevators.  Models for the Carriage Homes at Arbor Greene are expected to be open in the Spring of 2007.Arbor Greene, a gated and guarded upscale community in New Tampa is also a CDD community.                     
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By Russ Perlowski, Tampa Real Estate
(People's Choice Realty Services LLC)
Pulte Homes received approval from Hillsborough County commissioners to build over 3,000 homes and a commercial plaza near FishHawk Ranch.  The new community will include new single family homes, duplexes, and town houses and will be similar to nearby FishHawk Ranch a CDD community.Pulte will be contributing $71 million towards road improvements and $3 million for a new wing at Newsome High School.                                                 While there was local opposition to this planned community for a year, it was passed by the commission.
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By Peter & Patricia Clarke
(ELITE ACCESS REALTY INC. Real Estate Brokerage)
I just found out about this G-R-E-A-T website and want to share it with everyone since I think it is so unique and effective to get clients. On January 1, 2007 will be the launching of a network of 36 web sites targeted to various housing markets across North America (United States & Canada). The difference here is that each website is specializing in just ONE GEOGRAPHIC AREA so you can focus on your own TARGET MARKET and establish yourself as a sought after, knowledgeable professional in your housing market area.I was wondering why there was not a website like this before since the best way to advertise yourself is LOCALLY. These sites will be a great source for news, numbers and opinions regarding your local housing market. Every site will have content written by professionals from th...
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By Russ Perlowski, Tampa Real Estate
(People's Choice Realty Services LLC)
For first time home buyers, downpayment assistance is available through Hillsborough County and through the city of Tampa.  Funds are provided through the SHIP Program (State Housing Initiatives Partnership and the HOME Investment Partnerships Program).These are 0% interest, deferred payment loans.  If the house is located within the unincorporated areas of Hillsborough County, then the homebuyer who is eligible will go through Hillsborough County.  (Not within Tampa City limits).  Similarly, if it is located in Tampa, the homebuyer goes through Tampa's program.Total household income must be 120% and below the area median income and the applicant cannot have owned a home within the last three years with the exception of displaced spouses.  Special benefits are provided for teachers, nur...
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By Russ Perlowski, Tampa Real Estate
(People's Choice Realty Services LLC)
One of the deciding factors in determining what part of a city you may choose to live in is the average price of the homes in the area.  Average sales pricing by area only gives you an idea of the value of homes in an area.  Since we are dealing with averages, clearly some have sold for higher, and some have sold for lower than the average sales price.  Also, there may be some homes in the area that are higher priced or lower priced that didn't sell during the period analyzed.Given that explanation, I thought I would provide some average recent sales prices of homes sold by neighborhood/area in Tampa.  Note:  Not all neighborhoods/areas are reported here:Brandon:                $270,000.Carrollwood:           $378,000.Central Tampa:      $159,000.Lutz/North West:     $419,000.New Tampa:...
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By Russ Perlowski, Tampa Real Estate
(People's Choice Realty Services LLC)
Much has been reported about the decline in the housing market.  Tampa's housing market in terms of units sold, was super HOT from 2004 through 2006.  September of 2006 revealed the fourth best September in reported Tampa home sales ever!*We have now returned to a market that provides more inventory for prospective Buyers than the boom years.  While homes are typically not selling as soon as they hit the market, they are selling!  September of 2006 Tampa home sales show a 24% reduction in homes sold for September of 2006 compared to the previous year.  This was preceded by drops in monthly home sales compared to 2005 that were in the -35% range for four consecutive months. Homes that are priced right are selling.  Much has been reported on home "E"valuations that are offered on various ...
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