SI Real Estate Tampa and The Beaches

Since 2010, the Floridian housing market has been stabilizing, and this pattern continues through 2014. According to Florida Realtors Association, Florida’s housing market has had an increase of sales and median prices since 2013.   In fact, the statewide total for single-family houses sold in October was over 21,800, an increase of nearly 18% since October 2013.   Statewide, even the sales price of single family residences has increased nearly 5%. Be assured, these are signs that the housing market is not only gaining momentum, but truly stabilizing and becoming a healthy and prosperous industry once again.  According to Sherri Meadows, President of Florida Realtors , October of this year marks the 35 th month in a row (nearly 3 full years) that the state wide median sales prices have rose for both single family homes, and for townhouse-condo properties. Florida is on track to close out 2014 with tremendous momentum, more than we’ve had in years. The statewide...

Tampa is centrally located on the west coast of Florida and has many alluring attractions.  Everything is available to us; from the many Orlando Theme Parks to our celebrated sunny beaches. Many of our best kept secrets in Central Florida are known only to its residents. One of the popular treasures of Tampa Bay is South Tampa. Its energy and popularity have continued in full force, even during the economic adjustments.  It’s easy to understand why, once you've visited South Tampa. South Tampa is home to several mini neighborhoods. Davis Island, which is one of the most beautiful areas in the city, is about to get another make over. One example, according to the Tampa Bay Business Journal, a low-slung brick home on Davis Island is scheduled for demolition to make way for a brand new 6 million dollar mansion. This West Indies style home will be over 7,300 square feet and is slated for completion in late 2015. Housing on Davis Island isn't the only thing that’s getti...

A New Home may be the very best option for you to review!  “Thousands of new homes are under construction in the Bay Area.” According to the WFLA and the Tampa Bay Builders association, Tampa Bay has been booming with constructions. Since 2011, the housing market has been steady, and new home building has been slowly increasing. This could be due to the continuously low interest rates on mortgages over the past 2.5 years.  There are at least 3,000 new home construction starts in Tampa Bay this year, and there are still more coming.  Why new homes?  There are many floor plans and color options to choose from. You will enjoy less competition in the contract and offer process. Enjoy the streamline procedure of one stop shopping in a new construction development. These are just a few of the innumerable options available.  Jennifer Doerfel, the current Vice President of the Tampa Bay Builder Association says that if consumer confidence stays where it is, ...

Plans for retirement are important to start thinking about during your career. There are many ways to plan for retirement by investing your money. You can invest in stocks, bonds, mutual funds, or real estate. In recent years, more investors have been reaching for the real estate industry. Investors purchase homes and rent them to tenants, creating a stable form of income with little expenses. Real estate isn’t always easy to invest in, but it is more stable. Stocks have the tendencies to rise and fall with investment trends over the course of a year; however, a rental property with a locked in lease generates predictable and stable income. This is ideal for risk adverse investors, or investors who are getting a later start in building their portfolio. There are many opportunities to invest in real estate. The first of which being crowdfunding . This new concept is to split up the cost of a venture (or in our case, property) into sections and having different investors purc...

Recently, bankers have joined loan guarantors to push the ease the proposed capital rules for mortgage insurers. The bankers advised that easing up on the proposed rules will make real estate financing even more affordable for buyers seeking a new home and loan.  Along with the bankers, the National Association of Realtors discussed the importance of having accessible mortgages for first time home buyers. According to the Wall Street Journal , Citigroup and Bank of America are providing mortgages at discounted interest rates as a part of their efforts to help borrowers with low incomes or lack luster credit histories. These discounts are larger than what other banks currently offer on fixed-rate mortgages with high credit scores. This new home loan program encourages borrowers to pay points as a means to receive an even larger discount rate. A point upfront fee lowers the interest rate on a mortgage, and one point is equivalent to 1% of the loan. If you have a $100,...

“Where were you on September 11 th ?” is a question you’ll hear a lot today. Some of us were in school, others were at work. When the news was broadcast, Americans all over the country were in disbelief. America hadn't had an attack of this scale on its own soil since Pearl Harbor. As a country, we were devastated. As a country, we were united. With empowering speeches from former President George W. Bush, we came together as a nation and declared that we will not stand for acts of terrorism. We would unite as Americans and support the victims of this tragedy. We would act to prevent this from happening again, to America or to anyone in the world.          On this day, we chose to remember those who have lost their lives in the World Trade Center. We chose to grieve with the families who have lost someone when the towers fell. We chose commemorate the firefighters and police officers who gave their lives to help trapped victims.   ...

Now is the time to act on purchasing your home. The housing market climate has drastically improved and builder confidence is at the highest level it has been in nearly a decade.  Recent mortgage and inventory trends are allowing you, as a first time buyer or a repeat buyer, to make your move.  But are you ready?  Purchasing a home is one of the biggest financial investments that is made in a lifetime. Although you might be ready to buy your home, there are a few ways to simplify the purchasing process, making it smooth sailing for you.  Here are four key ways to prepare for your new home purchase:  Credit: When purchasing a home, make sure to check up on your credit. The higher your credit score is, the more likely you’ll be able to finance your purchase with lower interest rates. Credit is influenced by many things, so it’s imperative to be mindful of it.  Do not purchase anything from a car, furniture, or take on any debt before, during or after...

According to Zillow.com, real estate inventory remains low in the US housing market nationwide. With such a significant shortage in inventory and such high demand; homes are becoming more difficult to come by for many first-time buyers. Low inventory continues to be a collective frustration in the real estate market, specifically in the affordable price bracket.  According to Zillow Real Estate Market Reports, the inventory constraints on the affordable side of the market make it particularly tough for entry level buyers.  Buyers are not finding ample options, while the costs of affordable homes continue to rise.   Reports indicate that in addition to the low numbers of affordable homes for sale, home buyers with traditional financing are still competing with all cash buyers in today’s market. According to Zillow, “more than one third of all sales of the lowest-priced homes were made with cash.” In cities such as Tampa Bay, Miami, and Detroit, more than eighty p...

Summer is always a tremendously popular time of year for families and movers changing homes across the United States. According to the American Moving and Stora ge Association, 15.3 million Americans moved between the summer months of June and August last year. Moving into a new home can be a stressful and overwhelming task. Fortunately, a little preparation and careful planning is all it takes to reduce stress, and ensure a smooth transition into your new home. Save time and reduce stress with these helpful tips provided by Mattress Firm, Inc., and Homes.com. Be ahead of the game :  Saving all your tasks for one day is not the best idea, but planning ahead is a great way to stay organized and make your move much easier. Start planning your move as early as possible, and be sure to mark your move in date.  Utilizing a calendar is a great tool to visualize your move. You can schedule a day for each room, and save the most used rooms for a later date.  Storing all ...

Miami Heat fans were in shock when MVP LeBron James, announced that he would be leaving the Heat and returning to the Cavaliers. James holds two NBA titles, and has now decided to return home to Cleveland where his basketball career began. He states, “ My relationship with Northeast Ohio is bigger than basketball.”  James writes that he has a responsibi lity to be a leader in the court, as well as in his home state. Cleveland is excited to have LeBron James back however, James holds humble and realistic expectations for the upcoming season. He says that he is “not promising a championship” because he knows “how hard that is to deliver.” Although James wants to win next year, he is prepared for the road ahead, and says that “it will be a long process.” James is hopeful for the future, and intends to bring a championship to Cleveland. After four years with James, co-star and teammate Chris Bosch declares that he and James will always be brothers, and holds no hard feelings tow...

May 2014 was a spectacular month for the real estate market throughout the nation. If you don’t feel like the market is recovering, here are some facts for you to consider. 1.     Total existing home sales , including completed transactions such as single-family homes, townhomes, and condominiums, grew 4.9% to an annual rate of 4.89 million in May 2014. This gain is the highest increase since August 2011. Higher sales volume is a great sign for the market as buyers are being more confident. According to National Association of Realtors (NAR) chief economist, Lawrence Yun, “home buyers are benefiting from slower price growth due to the much needed, rising inventory levels. Moreover, sales were helped by the improving job market and the temporary but slight decline in mortgage rates.” 2.    Total housing inventory in May increased by 2.2% and reached a total number of 2.28 million existing home available for sale. The number of homes represents a 5.6 ...

The World Cup is back. Brazil, the country where it all began, spent over $12 billion dollars to host the biggest futbol (soccer) event in the world. As 32 countries battle each other for the next few weeks, there are many beautiful things we can look forward to such as the amazing atmosphere, cultural treasuries that Brazil has to offer, and of course the actual performance of the teams. The entire country of Brazil is behind its own national team and expects nothing but winning it all. Brazilian president Dilma Rousseff welcomes all the futbol fans, “I’m certain that in the 12 host cities, visitors are going to mix with a happy, generous and hospitable people and be impressed by a nation full of natural beauty and which fights each day to become more equal.” The United States are hoping for a good fortune after beating Ghana in the first game of the tournament. Trying to advance out of the so-called “group of death” including Germany, and Portugal, the U.S. team will have to ...

If the thought of buying a home has crossed your mind lately, market conditions suggest that now may be the right time to make your move. The Real Estate market is reaching a critical point for home-buyers and conditions have not been better in the past 12 months. Many people dream of becoming homeowners, and mortgage rates, the qualification process and more seem to keep some home buyers on the side line.  Conditions for purchasing real estate have greatly improved. For example, according to this Housingwire article, 30-year fixed mortgage rates have hit a nine- month low.  In fact, mortgage rates have been declining for 5 weeks straight. Some may attribute this to 2014’s slow start to the fiscal year, but it’s evident that now is the time to buy a home to ensure the most affordable rate to make a house your home. If you’ve been renting or leasing a home over the past few years and are thinking about becoming a homeowner, the New York Times posted this in dep...

     During the summer, Memorial Day is one of America’s favorite holidays (second only to Independence Day). Summer events draw much attention to the four day weekend, such as barbecues or events such as Tampa Bay Margarita Festival and Winter Haven’s Floatilla . During these relaxing and fun times, have we lost sight of what Memorial Day is about?      Memorial Day is a United States holiday to honor and remember the people who served in our military branches. Boeing’s 2007 commercial tugged at the heartstrings of friends and family who served in the military.  The U.S. Department of Veteran Affairs gives a beautiful history of the holiday.      After the civil war ended, Major General John A. Logan declared “Decoration Day,” a holiday to honor the soldiers who lost their life in the Civil War. The Grand Army of the Republic would gather to decorate the graves of the fallen on May 30th, when all the flowers would be in bloom...

A recent report indicated that Tampa is the 7 th best city in the country for renters on the move. With a vacancy rate of 13%, there are plentiful opportunities to make this great city a place to call “home.”  With the increasing demand for residential construction, it is apparent that more people are choosing Tampa as their permanent location of residence. Here are 10 reasons why Tampa is so loved by both residents and visitors: 1.      Beaches – Within close proximity, you have access to some of the world’s top-rated beaches. Fort DeSoto Park was recently named America’s “Best Family Beach” by USA Today . Clearwater Beach was also named by USA Today as the “Best Beach Town” in January of last year. And if you’re looking for a bit of privacy, take a ferry to the Caladesi Island State park and enjoy the sandy shores of this barrier island. 2.      Theme Parks – Busch Gardens provides fun for the whole family with some of Florid...

So far, 2014 has been very positive for the housing market and for the overall economy. Steady increases in home prices and home sales are indicating a continuous trend of strong buyer and seller confidence. The outlook towards real estate is improving quarter by quarter and we are expecting it to stay this way for the upcoming months and years. According to Fannie Mae’s April 2014 National Survey, “for the third month straight, the share of respond ents who believe now is a good time to sell a home increased and hit 42%, an all-time survey high.” One of the other factors feeding the economic upturn is the low mortgage delinquency rate. TransUnion’s latest mortgage report states that in the first quarter of 2014, the rate fell to 3.61% which is a 24% decrease in comparison to last year, and it is now exactly at the same level as it was in the second quarter of 2008. It’s encouraging to see mortgage delinquencies drop once again, especially during a period when mortgage origin...

As the spring season is just around the corner, American optimism towards the housing market is gaining momentum. According to the latest Fannie Mae National Housing Survey, 38% of all respondents say that now is the right time to sell a home. This is an increase of 12% in comparison to the same time last year. This clearly indicates an improvement in homebuyers’ and homeowners’ market confidence. In addition, 52% of people share the opinion that it is easier to get a mortgage in the current economy, which matches the all-time survey high. This means that great financing options, combined with motivated homebuyers and homeowners, are going to continue fuelling the economic recovery. Moreover, Americans are now beginning to feel more comfortable with their personal finances. Only 12% are expecting their financial situations to worsen in comparison to 21% from last year. Furthermore, 40% of respondents say that their financial situation has gotten better over the past couple ye...