SI Real Estate Tampa and The Beaches

It is quite common that around this time every December, end of the year recaps in various markets are released. You may hear a top 20 songs on the radio or see lists of best movie releases in 2011 on the television. Whether you care about what comes in at #1 on any list, it serves as a brief snapshot of what was news worthy that year. Here are a few of the more interesting and significant real estate stories of 2011 for you. Mortgage rates hit an all time low, and dropped to 3.94 this year according to the National Association of Realtors. In some Florida cities, including Tampa, home ownership became cheaper than renting! On the flip side, the unemployment rate made some of those buyers and investors hesitant to go forth with a transaction. Some people may look back on 2011 as the best time in years to buy real estate and make an investment. The Florida Legislature also showed signs of brighter days to come. In November 2012, Florida voters will be able to vote on Amendment 4, “sc

It is predicted that close to 13 million baby boomers will become Florida residents between now and 2023. These future buyers will begin home hunting, and the Tampa Bay area is one of the most attractive places to purchase. We have already seen a 22% increase in homes sold over the last two months compared to last year’s sale’s numbers. An increase is always nice to see, but another interesting statistic to point out would be the 32% decrease in unsold homes in Hillsborough, Pinellas, and Pasco counties. A clear sign that sales volume is up, and home inventory is falling. If you are looking to move due to a change in job status or simply wanting to start fresh, Tampa Bay offers great incentives to relocate. Before making the decision to rent any type of real estate for the snowbird season, you may ask yourself “what is so special about the Tampa Bay area?” The answers can be endless, and depending on what you enjoy doing, they may be infinite. The greater Tampa Bay area is home to s

Real estate investors and buyers are continuing to make property purchases that fuel the Florida real estate market. The third quarter boasted an increase in home buying and investing of 13% from last years numbers. Many of these new purchases and investments are viewed as long term and are helping stabilize our Tampa Bay real estate market. Even though Florida’s median sales price is lower than last year by a small amount, the volume of sales are significantly up. According to the National Association of Realtors, the foreclosures and sales of other distressed properties make the median sales price seem lower than what it actually is. Almost one thousand more condos were sold in October 2011 compared to October 2010, and the prices of those sold are up 9%. For more information about this, visit bizjournals.com. Stan Humphries, a real estate expert for Zillow, notes that Americans perception that lending standards are tougher now than during the 2000-2006 time period are simply misc

Recent studies have shown that Florida’s real estate market is continuing its upward path in part by attracting South American international investors. The Brazilian real holds a 45 percent gain against the U.S. dollar and is continuing to drive South and Central Florida’s real estate markets to new heights. Recent oil discoveries off the coast of Brazil have spiked real estate prices in those South American regions which are nearest to this discovery. Both of these forces are driving investors and buyers to Florida beach cities like Miami and greater Tampa Bay. While Miami may be the most culturally diverse city in Florida, Tampa bay is not far behind. The Hispanic population in Tampa Bay is the second largest ethnic group and the South American presence in the Tampa Bay area is very obvious. The abundance of waterfront and beach properties that Tampa Bay offers attracts those international investors and buyers; mainly because it’s what they are accustomed to in South America, but

Interest In US Real Estate Market Continues to See an Increase The recent increase in international online inquires for real estate in the US is attributed to many factors. Many real estate buyers in the global community are drawn in due to the weakened value of the Euro. France and Italy have always been in the top tier of competition for global real estate searches, but the US is making its way to the top. Seeing a 1.06% increase in the last month may not seem like a great increase to most, but when comparing it to the usual competitors, who have both seen a drop of at least 1.5%; it is a substantial number that draws attention. The following link will offer further in depth details on real estate trends. http://www.propertycommunity.com/property-in-france/us-overtakes-france-in-international-property-searches.html Foreign Homebuyer Proposal to Stimulate the US Real Estate Market Some of this attention could be boosted even higher if a bi-partisan proposal is passed, which would all

You Cannot Hold a Good Buyer Down! They say that the strong forge forward, this adage is true in real estate as well. A recent article published by Realty Times explains that despite date on the job market and adjusted home values over the past several years, real estate home buyers are still pushing forward in pursuit of the dream of homeownership. Real estate ownership is a desire goal and many are striving to move forward to achieve their real estate goals. A study of over 3000 adults over the age of 20, results in more than 59% of renters and 99% of existing homeowners feel that homeownership is important. Of those surveyed, a large majority also felt that homeownership is an economic cornerstone. Additionally, real estate makes a huge impact on the overall economic vitality of a region or city. It certainly has in Tampa. The most important result of this study is that as many as two million people are waiting to purchase a home when the time is right. Of those surveyed 62% of

We encourage our readers to realize why real estate is such a valuable asset. It is the place you call “home” whether it is a rental or you own the home yourself. As previous blogs have emphasized in the past, the real estate market is changing. We are stabilizing out here in Tampa Bay and before prices start going to high we would like to review the top reasons why the majority of America still prefers owning their home over renting a property. Savings It can be a large misconception that owning a home is more expensive than renting a property. In today’s market where many renters are looking for the best properties for their money it is a very competitive market, driving rental prices up. In over 71% of America’s larger cities owning is cheaper than renting a comparable home. Looking in Tampa, you can rent a two bedrooms, two bath, and 1000 sq foot condo near Brandon/Tampa line for about $950-$1000 a month. If you wanted to own a brand new 1250 square foot townhome with two bedroo

What makes someone visit one city over another? Is it entertainment, convenience, hospitality? We have a winning combination here in Tampa. According to a new report released from Concur, a travel and expense management company, Tampa is the 23rd most visited city in the United States. What sets Tampa apart from so many cities across the country? Concur examined average costs for travel to Tampa but it didn’t identify the reason so many people set their travel plans to land in Tampa. Working in real estate we get an insider perspective about an area. We love Tampa for so many reasons. Residents and visitors get to enjoy close proximity to the beautiful bay, beaches, a strong arts community and unlimited options for entertainment, shopping, and dining. Tampa boasts major sports teams, 3 super bowls in the last 15 years, and national conventions just to name a few. Real estate prices have dropped for the last couple of years. Now unemployment rates are decreasing and housing prices

We have seen a decrease in property values across the nation. Tampa Florida is no different, if a buyer purchased at the height of the market, they may not be able to sell the property for what is currently owed. This blog is to help let owners and sellers know what options they have to consider. Revamp All Efforts to Sell House The last thing you want to hear but the FIRST THING YOU SHOULD TRY is exhausting all efforts to get your home sold, relieving you of financial and legal responsibility. Meet with a savvy and local real estate professional. Examine your price point, evaluate your showing effectiveness of your home, and do some touch up repairs and maintenance to have it looking its best for potential buyers. We are seeing homes sell every day! As a matter a fact we reported in our last blog, “ Life of Real Estate Agents in Tampa ”, that we cannot find enough good quality inventory to show our clients! If you have a nice home, and you price it right for today’s market, it will

In the blogging world, we try to provide facts and interesting articles for our viewers so that you might find helpful information to satisfy your interest in following us. SI Real Estate’s expertise is in real estate here in sunny Tampa, Florida. We feel it is important to inform our clients, associates, and customers that the real estate market in Tampa has a new trend, we no longer have over a year’s worth of inventory. As a buyer client, if you find a home you like, buy it before others start bidding. Instead of quoting a good article or just cold facts we have been following in the real estate market, we decided to give you a real insight into what our company’s valued agents experience on a daily basis here in Tampa. As we all know, real estate is a local industry. It varies greatly from one zip code, city, and state to another. We have agents in our geographic area every day looking for the properties that fits the criteria and wish lists of their customers. What they see o

Have you thought about purchasing a home, a condo, or townhome instead of continuing to throw your money away on rent every month? We regularly share with our customers that for years the market in Tampa Florida has been leaning in favor of buyers. Right now there is some incredible real estate buying opportunities to take advantage of. According to a press release August 16, 2011 by Freddie Mac, the HomeSteps program is offering a $1500 incentive for qualified buyers in order to put towards condominium association dues. They will prepay condo dues for the new homebuyer to get adjusted into the property. In addition to condo cash, qualified homes may also receive a two year home warranty. To find out more information about what offers there are in the market to help you find your next home, please contact SI Real Estate at 813.631.5144 or email us at Yourhome@sirealestateinvestments.com .

Back in April, we posted a blog titled, “Younger Generation Predicted to Turn Real Estate Market Around”. We focused primarily on the young families and adults that made up Generation X (32-45 year olds). New research is also putting a lot of emphasis on Generation Y (15-32 year olds). The statistics suggest they will be a strong driving force for the next ten years! Why is this group different from their older peers? The group is about equal to the baby boomer generation, about 77.4 million individuals. By sheer size alone, they are a significant percentage of the buying market. They make up over 25% of home buying age. They tend to be highly educated; more than 60 percent of them go to college. As more of this generation joins the work force there is going to be a “massive increase in housing demands”, according to University of Southern California Lusk Center for Real Estate. Below is a list of what you need to know about this group in order to market to them: Importance of

The real estate saying, “location, location, location” might not hold as much weight to this generations buyers. According to Realty Times , lifestyle options including health, safety, and nearby activities may be a leading factor in home buying selection. A recent survey conducted by Better Homes and Gardens Real Estate LLC and the Meredith Corporation reveal that homebuyers prefer these traits in their community: 1. Ease of commuting by car: 38% 2. Access to health and safety services: 34% 3. Family-friendly neighborhood: 33% 4. Availability of retail stores: 32% 5. Access to cultural activities: 21% 6. Public transportation access: 19% 7. Nightlife and restaurant access: 18% 8. Golf-friendly area–access to golf courses: 6% If the community a buyer is currently living in doesn’t meet these desires, 1 in 5 homeowners have moved or would like to move to better fit their lifestyle. This data lets you as a seller know how to market your property to the way home buy

More good news in the Tampa real estate market this week, Tampa ranks in the top ten cities for rentals. This information was provided by CNN Money . According to their report, the labor market is on the rise, down a point in the last 12 months to 10.5% and this coupled with demand is expected to raise rent 12% over the next three years. What does this mean to consumers? If you are in a position to purchase a home, now is the time! Prices are increasing, our last blog, Tampa Bay Housing Prices on the Rise we shared that prices have increased by 18.5 percent over the last 6 months steadily. With prices on rentals increasing and home prices starting a slow incline, get the best deal you can now. If you are an investor or ever thought of getting an investment property, don’t wait any longer to find your property. This steady increase in price we expect to continue and with rising rent rates, now is the time to buy in order to get a great return on your investment over the long run. I

We have been reporting about an interesting real estate trend in Tampa Bay. Real estate agents are pleasantly surprised that for months now that properties are moving, prices increasing, and finally the news is now reporting their findings, Tampa Bay homes prices are on the rise . The Tampa Bay real estate prices have risen or at least remained constant every month this year.  Tampa Bay Price Changes 2011  According to the St. Petersburg Times , the median selling price of single family homes (including conventional, foreclosures, and short sales) rose 18 percent from $107,500 to $127,000 from January 2011 until June 2011. This is a huge difference in price! If you look at conventional home sales alone in that six month period, the increase was 8.5 percent. The median price is now $169,900, the highest peak since October 2010. January $107,500 We hear the doom and gloom stories of no housing recovery for years, but let’s hear some street talk from SI Real Estate . Six steady

One of the most important elements of buying a home is imagining yourself and your stuff in it. The best way for sellers to help their prospective buyers have a good first impression and easily visualize themselves living there is setting up the home is staging. Home staging is the practice of setting up your home so it is aesthetically pleasing to buyers. Looking at an article in the Realty Times , they brought up the best secrets to staging. Maybe you can try and apply these tips in your home: 1. Declutter The first and sometimes hardest part of subjectively looking at your home is removing clutter. After years or months of accumulating possessions, we sometimes slip on clearing all the extra things in our homes. Bottom line cutter is distracting and it gives the illusion the home does not have enough storage. Clear the extra knick knacks and furnishings in your home by putting in a better location or storage. 2. Cleaning After clearing away clutter, the next most important

Buying a new home can be very exciting, it is important that still being a savvy buyer while getting what you want in your new home. One of the most overlooked factors in a new home purchase is buyer representation . Although many builders are great and have great new homes sales consultants, as a buyer you need to have your own personal advocate and representative! Before viewing new construction homes and reviewing options, it is prudent to speak to a local agent who is familiar with the process and the area. The prime example of real estate buyers seeking to go it alone is on new construction. Builders make it so convenient and easy to walk into a new community and get set up for your new home. Why would anyone consider having a buyer’s agent with them when viewing new construction? The following represent a few examples of your benefits: Free Representation The most important factor for any buyer having a designated agent is representation. This professional is your expert

In 2011, real estate remains a true buyer’s market. In Tampa, prices are the lowest in the last decade and interest rates at historic lows, now is the time to purchase real estate. Whether it is your dream home, a vacation home, or an investment property you need to make sure you are looking at the big picture. Buyers now more than ever need to be savvy to recognize the good value when they see it. Realty Times just published an article this week, “ Savvy Buyers Know Value When They See It ”. In this PJ Wade , compiles a list that all buyers should review before their next real estate purchase. She reminds all buyers that you do not need to approve of a sellers color scheme or décor, rather look beyond superficial things to the bones of a home. To help keep you on track during your purchase remember this important tips. Be prepared if the first showing is the right place Most buyers are anticipating the first house to not meet their expectations. If you go into the first house

In a real estate market where everyone is holding their breath and waiting for updates on where the market is going, it is important to remember the basics. The reasons you should buy a property or reasons to sell a home. Below is list of the most common reasons to sell your home. Ability to make Profit Real Estate is a large investment, for most families the largest they have. When there is an abundance of equity in a property, or if they owners feel they can benefit from taking advantage of the buyers' market, it is a good time to sell. The real estate market is changing every day, right now we are in a buyer’s market but that may be changing. Take advantage of the rush of buyers while they are available. Relocation Relocation may be a necessary next step in your life, maybe to follow a job, or maybe to choose a new location. Whatever the reason for relocation, homeowners have a big decision to make. Owners can turn into landlords or sellers. Most individuals feel more pe

When undertaking the experience of purchasing a home, there are lots of important decisions to make. For instance, if you want a detached home or a community lifestyle, how many rooms, what are you willing to spend? The first and most important question any buyer or investor should ask is what locality do I want to be in. You hear real estate professionals stress this factor often, location, location, location! It truly is the single most important factor on any real estate purchase. If you put the exact same house on two different lots in different areas of town, they will hold different values. How do you decide what vicinity is the best for you? Economic Factors Does this city have a high percentage of unemployment ? Are there a large number of foreclosures? This is a shaky topic for a lot of Americans right now. Many people have unfortunately been let go of their jobs and are forced to default on loans and are not finding work easily. However if an area’s unemployment rate i

Channelside | An Urban Lifestyle Continues to Develop Featuring Tampa’s Channelside . In downtown Tampa, Florida we are fortunate enough to have so many options where we can live, eat, work, and where to go have a good time. One of the hardest things to get used to in new larger city is to get to know different areas of town. As a real estate boutique in Tampa, we decided we were going to focus on a couple of areas of Tampa to bring you up to speed on what is going on. One of the most lively areas in Tampa’s urban culture is downtown and Channelside. Here in Tampa, we have a booming downtown business district: retail, restaurants, nightlife, and arts abundant. You can even catch a cruise to an exotic destination or dinner on the bay. Channelside will keep any resident or visitor entertained. To understand the allure of Downtown, you should look at the area of Channelside. An example of how this neighborhood is up in coming can be found in the new construction of high rise, high lif

There is so much news on the health of the real estate market every day. Many people are waiting until the market fully recovers before investing in real estate but some are not waiting. What if experts suggested however that buying a home is actually cheaper than renting? The newest studies of 50 of the largest cities in America are suggesting that it is a smart decision to buy and cheaper than rent in the same area. Trulia just released a new chart with varying factors that show which of the 50 largest cities is better to buy vs. rent a home. The results boast 39 of those cities are cheaper to purchase property than rent. Trulia is not the only one spreading the good news however, check out Inman News this week. The news source is reporting that 78% of the major cities in the U.S. it is cheaper to buy real estate than to rent a home. How does the Tampa Bay Area compare? Tampa, Florida is not one of the top 50 cities by population in the US therefore it doesn’t make most of th

3 BD/3.5 BA/2 CG/Boatslip $325,000  MLS: T2465135 $2,000 per month   MLS: T2460929 This week we wanted to present a beautiful property for you to view. This is a luxury waterfront townhome that is currently listed for sale and for rent. This beautiful home has three stories with three bedroom and three and a half bathrooms. You will be dazzled by the great attention to detail. It features lovely Plantation shutters, designer chandeliers, carpet and ceramic tile flooring throughout. There is a first floor game room features full cabinet wet bar, refrigerator and a full bathroom, along with an attached deck that leads to nature conservation. The gorgeous kitchen is updated with new applicances, gorgoues wood cabinets and an island for entertaining. This Spinnaker Cove townhome also includes an additional deck off of the second floor living area with views of the natural and tropical Florida landscaping. Most of all, this property includes access to a 40 ft. boat slip with direct Tam

As the flowers and trees start to blossom, there is another change in the air. With drops in foreclosure filings and a rise in the buying market, could Spring bring a new season for real estate? According to an article published by Housing Wire , Housing starts rise 7.2 % in March 2011. This is after a long decline of months. The data is collected from Department of Commerce, U.S. Census Bureau , and the Department of Housing and Urban Development every month to compare to previous months and previous years. March reached the highest peak in 16 months. Another noteworthy statistic to highlight is that RE/MAX National Housing reported that, “Home sales jumped more than 10% in 53 of the 54 metros tracked by RE/MAX between February and March”. This is a huge accomplishment in such a harsh season of retail. In this article it also quotes Freddie Mac in projecting that annual sales this year will be up a total of 5%. Another important thing that Freddie Mac monitors is foreclosure p

Since the slump in the real estate market started everyone has wondered where and when relief would be found. There is a new group of people that are drawing confidence in the housing recovery. A new study was released in March by the National Association of Home Builders states that, “Generation X –young families and adults ages 31 to 45 – are likely to lead the home buying recovery as it gets underway”. Gen X as they are referred to makes up 32% of the home-buying age population. They are not the largest group (Baby boomers make up 41%) but they are the most mobile. They are fully engrossed in careers and need to expand to accommodate larger families. When surveying 10,000 potential buyers in 27 metro areas, between 85-89% said now is a good time to buy! What does this Generation of home buyers want? More space! Most are growing in careers and families and want a bigger home than they currently live. In addition to space inside they want more space on their property. Although

Although there has been a high number of a sale in the Tampa Bay real estate market the last couple of months, the industry is sending some mixed signals. What is happening in our changing market? According to The Tampa Tribune , “Homes sales are climbing, up 16 percent from a year ago and 24 percent from last month”. However since there is such a high number of bank owned and distressed properties, the median sale price is only $111,100. Of the 2,375 real estate sales in Tampa in February 2011, a large majority were bought by investors. They see properties in distress, prices continuing to decline and investors are cashing in. The spring selling season is around the corner however, and projections are expecting more traditional homebuyers to start jumping in. Most first time and repeat homebuyers are not interested in the distressed properties. They start off looking at the price tag, but are not prepared to deal with the challenges once viewing the property. They see the value

• Long term Investment According to Realty Times ,” An average appreciation rate during normal times is around 6.5 percent a year. That means if you buy a home for $100,000, in just ten years you will have a home that could feasibly sell for around $174,000” • Personal and Community Stability Owning a property creates a sense of community and accomplishment. People take better care of property; have higher graduation rates and lower crime rates in more stable communities with large percentages of homeowners. • Tax-Breaks Tax benefits are a huge asset to many Americans, you can deduct mortgage interest, and there are tax credits and money back for making energy efficient upgrades. These breaks might not seem like a lot at first but for middle income families they can add up fast. • Benefit to Economy and Job Growth According to Houselogic , “For every two homes sold, one job is created in the U.S.” Each housing purchase is estimated to generate $60,000 towards economic act

The Real estate market is still changing. Homes are selling every day however, buyers have changed their expectations. Keeping you informed on what to expect when buying or selling a property in today’s market. 1. Buyers are opting for smaller homes Constraints on housing market really have made buyers reevaluate what is necessary in their next home purchase. A study conducted by the National Association of Home Builders (NAHB) reveals that homes are expected to be ten percent smaller in the next couple of years. “To save on square footage, the living room is high on the endangered list-52 percent of builders expect it to merge with other spaces in the home by 2015 and 30 percent said it would vanish entirely.” 2. Heavy influence on purchase decisions can be swayed in favor of green and eco friendly properties The NAHB reports that not only floor plans are changing. “68 percent of builders are including green and eco-friendly features by 2015. This includes low-E windows, en