SI Real Estate Tampa and The Beaches

Searching for a home to purchase? You’ve probably noticed the increasing inventory of new construction homes available. Builders are developing new communities all over Florida, especially in the greater Tampa Bay area. If you’re ready to start exploring the option of purchasing a model or builder home, don’t go it alone! There are countless advantages of having an agent with connections to builders and the community, along with new construction experience, by your side for a new home purchase… Always use a Realtor ® As you admire the freshly built model home, you may be surprised to learn that the “new home sales consultant” greeting you might not actually be a Realtor. Builders employ sales agents and staff to sell their homes, but these individuals are not necessarily required to have a real estate license. While not hiring a Realtor may seem like a thrifty choice, it is always in your best interest to have representation in negotiating your purchase, sel...

Flipping through the television channels and social media, you may have noticed that many people are shifting towards downsizing their living space. Shows like  Tiny House, Big Living  and  Tiny House Nation  document the trending transition to tiny homes. So why are so many Americans jumping on the tiny home bandwagon? According to  TheTinyLife .com , the average home is 2600 square feet – compared to the minimal square footage for tiny homes, averaging between 100 – 400 square feet! Those joining the Tiny House Movement are doing so to protect the environment, live frugally and have the freedom to travel. With their petite structure, m any tiny house homeowners have found financial freedom that would have been difficult to achieve had they opted for a mortgage on a traditional home. The savings from high property taxes, lower maintenance costs and less major repairs are illustrations of many sources of household savings through  Tiny Homeown...

Traveling back to the 1960s, homeowners were just beginning to enjoy the luxury of having a television in the home.  The families of the 1990s experienced the convenience of owning their very own computer. Fast forward to 2016, and not only has technology advanced in the way of entertainment, but it has become a part of our everyday lifestyle.  For years, technology has filled our homes – now our homes have become an integral part of new age technology. While the definition of a  smart home   is debatable, most consider a smart home a house that has remotely controlled systems including temperature, lighting and electronic devices. Once considered a luxury for the wealthy, smart homes have become a mainstream component of homeownership. Combining security with convenience, smart homes offer families enhanced peace of mind. Beyond the ability to remotely access security footage from your smart phone or tablet, some smart homes have the unique capabilit...

It’s time to take the next step and buy your first home. Where to begin, you ask? By and large we find ourselves scouring the internet for real estate listings and then driving by potential homes only to find that it’s been sold, or doesn’t live up to those beautiful online photos. Here’s the good news! Before getting too wrapped up in the home searching process, there are a few steps you should take to save yourself time, money and lots of disappointment. First and foremost: Prepare Your Credit for Mortgage Approval .  Now that you’ve decided to turn those rent payments into mortgage payments, the natural tendency may be to start looking for your dream home. But taking a step back to analyze your finances will be of absolute benefit to you when it comes to the mortgage approval part of the process!  The preliminary home search stage is the perfect time to check your credit score and the contents of your report.   If needed, you may dispute any erro...

Real Estate Pulse 2016: Short Supply Continues to Push Home Prices Up It’s no secret that for the past 6-8 months the supply of single family homes has been well below average. Here in the Florida market, the lack of homes to purchase is causing a buyer frenzy. Specifically in the Tampa Bay and Miami housing markets, the shortage is readily apparent. Prices have shot up  alread y  in the beginning of 2016 as both first time home buyers and move up buyers struggle to find what they want without paying a supply shortage premium. Shoppers are also having to compete with other buyers when they do locate a property that fits their needs. Closed sales in the first part of 2016 have drastically outnumbered the amount of properties put on the market in Tampa Bay as well as statewide in Florida. This has further reduced the supply of available homes, forcing prices to jump up in a hurry. All of the large counties in our area: Hillsborough, Pasco, Hernando and Pinellas h...

2015 has been a pleasant year for the Tampa Bay real estate market, marking a full resurgence. Normally sales fall off during the summer vacations, but not this year!  Homes listed for sale are continuing to seek out higher prices, while buyers are actively finding properties to put contracts on. A local North Tampa homeowner listed their house at $ 450,000 3 weeks ago and had a pending contract 8 days later, including backup offers. SI Real Estate has also participated in this high level of activity, selling three different properties in less than 10 days recently. While we normally see soft interest during summer months, especially July that has is not the case in 2015! ”Statewide in July, the inventory of available homes tightened to a 4 1/2-month supply. Most analysts consider a six-month supply to be evidence of a balanced market between buyers and sellers,” said John Tuccillo, chief economist of Florida Realtors. He is demonstrating here that inventory is d...

July New Home Sales up 25%! If you have been following SI Real Estate’s blog this year… we have been tracking the housing market from January all the way through now.  As predicted, the market has been rebounding all year! The most recent news is fantastic, with New Home Sales up 25% in July 2015 versus July 2014.  That is a LARGE rebound in a short amount of time. Another pertinent statistic for tracking the real estate market: we saw an increase of new home sales from June to July, up 5.4% or 26,000 more home sales in July. The numbers that were just released reflect what we are seeing here in Tampa Bay. SI Real Estate’s most recent for sale listings have been extremely active, one of which went under contract in just 6 days - pretty much for the exact listing price too. Homes priced at $750,000 + have been seeing increased activity as well.  Around 6% of all new home sales in July 2015 were at the $750K+ price range.  That is 3% more than June, ...

Home ownership has been always a big part of the American dream. Owning your home has a huge impact not only on you but also on people around you. For every sold property in the United States, jobs are being created; generated revenue is making the economy stronger, communities are becoming more stable, and all this contributes to the process of the housing market recovery across the country. SI Real Estate takes the educational part of homeownership very seriously and we believe that is extremely important for our clients to know the advantages of owning your home instead of renting. Here in the Tampa Bay and anywhere else in the United States, being able to purchase your home has been always a sign of responsibility and a source of security for the American middle-class. After the financial crisis in 2008, many Americans have lost their jobs and their real estate went into foreclosure. President Obama and his administration made the housing recovery to one the main goals o...

We are constantly being reminded about the condition of the real estate market, both nationally and locally. No matter which media outlet you choose to ingest, you are most likely seeing, hearing and wondering what is up and what is down, and more importantly, what it means for you. Here is a brief recap of some figures to keep in mind. What’s Up : We have heard this for the last few months of 2012 and will continue to hear that home building is on the uptick. Up almost 40% from the previous year, home start are on the rise. At the most recent International Home Builders Show in Las Vegas, the National Association of Home Builders Chief Economist, David Crowe said, “Nearly every measure of housing market strength – sales, starts, permits,  and builder confidence – all have been trending upward in recent months and we expect to see steady growth to continue in 2013.” Home prices also continue to rise. On a national level, we ended up with a 5.6% increase from la...

Buying a home is one of the most important financial decisions most people make, yet many give little thought to finding the real estate agent best suited to their needs. The process of purchasing a new home is much more involved than simply cruising open houses, “for sale” ads, or have someone simple unlock doors for you. Buying real estate can quite be complicated so it is essential to have the right professionals on your side. With so much at stake, working with a skilled real estate agent can help ensure that you find the right property for you at the right price. So how do you choose the right real estate agent for you? Here are a few helpful hints: Interview potential Realtors from different agencies and consider their qualifications. How competent are they? How compatible are you together? There’s no underestimating the importance of both when choosing a real estate agent. Do they know the neighborhood? Is the agent familiar with the housing market and values in the cities and ...

Many benefits come with the purchase of your home, such as having a place of your own, having stable housing costs, having a sound investment, having a financial stepping stone and even having access to tax benefits. There are important criteria that should be considered when buying a home, regardless if you are a first-time home buyer , second home buyers or real estate investor. Knowing the home buying process will help make your experience a smooth and pleasurable one. Set the stage for an easier home buying process. 1. Find professionals you can trust. - Ask questions and express your concerns up front. - Learn what to expect — and what will be expected of you. - The right people will walk you through, talk you through — and see you through! 2. Start with getting pre-approved. - Loan pre-approval gives you a rough estimate of how much you may be able to borrow. The process will help you figure out how much you can afford. 3. Determine the right financing for you. - There are many l...

This week's featured property is a centrally located and newly updated, charming West Tampa home. The two bedroom house for sale located at 2710 W. LaSalle features new interior and exterior paint, upgraded cabinets and all new kitchen appliances including range and hood, refrigerator, and dishwasher, as well as a washer and dryer, new window treatments, baseboards, molding and new tile flooring. The bathroom has also been updated to include new grout, fixtures and flooring. The remodeling of this home was well thought out, aimed at preserving its pleasant qualities while adding modern luxuries. We absolutely fell in love with this West Tampa house and its endless old Tampa charm and unique details such as the Florida room and the little niches built into the walls used to hold artwork, plants or photos. The concrete block house exudes character both inside and out with a newly painted concrete tile rood and beautiful fenced lawn with mature plants and trees. Inside the home an ent...

The American Recovery and Reinvestment act of 2009 authorized a tax credit of up to $8,000 for qualified first-time home buyers purchasing a principal residence on or after January 1, 2009 and before December 1, 2009. Any home that will be used as your principal residence qualifies for the tax credit. The law defines a "first-time home buyer" as a buyer who has not owned a principal residence during the three-yaer period prior to the purchase. First-time home buyers purchasing any type of home, new or resale, are eligible to receive the tax credit as long as the closing date and title transfer occurs before December 1, 2009. The tax credit is equal to 10 percent of the home's purchase price up to a maximum of $8,000. The income limit for single taxpayers is $75,000 and $150,000 for a married taxpayers filling a joint return. The money comes in the form of a tax refund, meaning that you will not receive the money until after the house is bought and your 2009 tax return is ...

Consumer confidence recently saw its most dramatic rise in eight months, showing Americans are regaining their confidence in the U.S. economy. According to the Conference Board Consumer Confidence Index , which had improved considerably in April, May saw an even larger increase. The Index now stands at 54.9, up from 40.8 in April. May’s level is the highest since last September’s level of 61.4 According to Lynn Franco, Director of The Confidence Board Consumer Research Center, consumers are considerably less pessimistic than they were earlier this year, and expectations are that business conditions, the labor market and incomes will improve in the coming months. The survey also reported that there was a rise of 23.1 percent in consumers who are expecting business conditions will improve over the next six months. While confidence is still weak by historical standards, it seems that as far as consumers are concerned, the worst is now behind us. According to a Bloomberg article, the gain...

While some U.S. buyers may still be uncertain whether or not it is time to step off the fence and buy their dream home or condo in Florida, international investors are showing increased confidence in an early Florida real estate market recovery and are quickly taking advantage of the deeply discounted prices. Foreign buyers continue to recognize the U.S. real estate market as a desirable, profitable and secure investment and the weak U.S. dollar partnered with the housing surplus has made the U.S., and particularly the Florida, real estate market even more attractive, according to an article by the Gerson Lehrman Group. According to a recent survey by the National Association of Realtors , in cooperation with the Florida Association of Realtors , half of the Florida Realtors surveyed indicated that more than 25% of their business now comes from international clients. These foreign investors come from all over the world and have shown a particular interest in the Tampa Bay, Sarasota-Bra...

Florida consistently earns top rankings from lifestyle, business, education, retirement and travel publications. Constant economic growth, pristine landscape, and the consistently temperate climate are just a few factors that make the state an ideal location to retire, start a family, build a career, attend university, or advance in a profession. Florida is ideal for anyone’s relocation needs. • “Top State Business Climate.” Florida’s business climate ranked 4th among executives and 6th overall on Site Selection magazine’s 2008 Top State Business Climate rankings. Read more . • “Best Tax Climate for Business.” Florida continues to rank among the top five states for best tax climate for business, according to a Tax Foundation survey. With no state income tax, low corporate taxes, a low unemployment insurance tax rate, and sales tax exemptions for certain business transactions, Florida has remained among the top five U.S. states since the survey’s inception. Read more . • “#1 in Online ...

New Townhome Community Gorgeous and Incredibly Spacious 3BR/2.5BA for Sale in Brandon, Florida FHA Approved!! Brand New Townhomes Excellent Builder! These tastefully decorated homes are offered in the $140’s, and are located in the Brandon/Riverview area of Florida, offering the finest amenities and most convenient location. Enjoy the privacy of having no backdoor neighbors as you relax on your screen enclosed lanai overlooking the park and picnic area. Enjoy your morning coffee in the eat-in kitchen, at the breakfast bar, sitting at the dining room table, or on the lanai enjoying our fantastic Florida weather. The living area is spacious and open, providing an entertainment cut-out and an ideal lay-out for furniture placement. The large master bedroom boasts vaulted ceilings, walk-in closet and private bathroom with dual sinks, garden tub, and separate shower. The laundry room with washer and dryer hook-ups is conveniently located on the second floor allowing easy access. Total sq ...

Cash buyers are grabbing deals at rock bottom prices in the Tampa Bay real estate market. According to the market statistics provided by the Greater Tampa Association of REALTORS® ( GTAR ), in April of this year 38% of all financing was cash. This is more than a 10% increase from April of 2008. Cash financing increased from 285 transactions in April of last year to 508 this year. FHA and VA financing has also seen an increased from last year, although not as drastic. Conventional financing has decreased from 555 transactions to 394, signifying that a majority of real estate transactions being made in the Tampa Bay area this year are by cash buyers. According to the same report from GTAR, homes sales have increased from 897 in April of last year to 992 in April of this year, with more than 3,424 total homes being sold to date in 2009. Market activity is definitely moving quickly in Tampa, Florida.