Thursday, September 29, 2011
A homeowner association fueled by active, concerned residents is the backbone of a strong community. What does a larger percentage of homes being rented in a community mean for owners?
Homeownership is part of the American dream. It drives other important elements of our overall neighborhood feeling. Those residents of a community that own their home tend to feel more connected to and have a pride in their community. They participate in more local activities, frequent local businesses and keep their home looking its best while improving it slowly over time. In addition to the financial benefits, homeownership is also associated with higher education, less crime, and happier, healthier individuals, according Social Benefits of Homeownership and Stable Housing, a 2010 study conducted by the National Association of Realtors. Renters, according to the study, feel less invested in the physical aspects of the property they …
Thursday, September 22, 2011
Move into Westchase under $200,000 and have all the benefits of the fabulous amenities but with little maintenance.
Homeownership is a big part of most people’s American dream. Many may believe that home ownership under $200,000 is not an option in the heart of Westchase. That may have been true in the past but now, if you take the time, wait for the right property you could own in Westchase as your first home or it may be the perfect downsize for the retiree. Instead of paying rent to someone else, your monthly mortgage payment pays down a portion of your mortgage balance each month. For a first time home buyer or a retiree trying to stay within a prudent budget and manage monthly expenses, a home with low or no maintenance may be the perfect fit. Fixing costs associated with home ownership is especially important in this economy when people are …
Thursday, September 15, 2011
Many people believe that if you become delinquent on your credit card debt, the only thing in jeopardy is your credit. Unfortunately, it could jeopardize your ability to sell your home.
During these tough economic times, each month many families are faced with tough decisions about which bills to pay and which to let side. More than likely, electric, water, food and mortgage payments are at the top of that priority list. Credit card bills often rate lower. But before you let those high balance credit card bills go, you should know that once you go beyond 90 days, a credit card company may take steps to try to recover its money, including obtaining a judgment for the debt. Once the court issues a judgment, the creditor can take steps to get its money. For those selling their homes, this is especially important since that judgment can be re-filed as a "certified judgment," which means the credit company can come after …
Thursday, September 8, 2011
Multi-generational living is trending up as the average household size is getting bigger. What does this mean for the Westchase homeowners?
According to a recent report by CNBC, the size of an American household appears to be on the rise. All signs point to more multi-generational living than we've seen in the past decade. In this day and age multi-generational living could mean aging parents moving in with their children or an adult child who may not have landed a job after college. Through the mid-2000s, the average household size had been about 2.5 people. In 2010, that number had increased to 2.6, according to CNBC's report. While the increase may seem small, Green Street Advisors indicates that even a 1/10 of percent increase could have a significant impact on housesold size, according to the CNBC story. As retirement funds are in jeopardy due to a volatile market and …
Friday, September 2, 2011
Inventory in general has been shrinking in Hillsborough and Pinellas counties in the Greater Tampa Bay. Median home prices increased in first 6 months of 2011.
Median home prices increased in the first six months of 2011 and inventory decreased, according to data compiled by Trendgraphix from the MidFlorida Regional MLS. At the root of the trend are model perfect, well-priced homes selling swiftly resulting in a shortage of homes on the market. What does that mean for buyers and sellers in the market now? For buyers, it means there are less homes to choose from in their desired market. Not only are there less homes, but the homes that may be left on the market may not be very desirable either in floorplan, location, upgrades or price point. This is confusing to local buyers who keep hearing it's a "buyers market." It is still is a buyer's market in terms of great rates and home prices, but due …
Thursday, August 18, 2011
Historic South Tampa homes and the newer West Park Village share similar architecture and community feel.
Craftsman bungalows and salt box and center hall colonials are not only found in South Tampa. In West Park Village, these styles of homes line the streets. You’ll also find cars parked up and down the streets like in the City of Tampa and retail & eatery establishments within walking distance. It feels strangely reminiscent of South Tampa. The six villages that comprise West Park Village in Westchase are different from the rest, the architecture and urban style offer that same feel of South Tampa more commonly found in Hyde Park or New Suburb Beautiful. South Tampa is steeped in tradition and is a historical delight. Of course, there’s no replacing original hardwood flooring, the unique trim work, original glazed windows or the …
Thursday, August 11, 2011
As fear causes investors to sell their equity, what will the current economic climate mean for local buyers and sellers?
Will the increase in debt ceiling and S & P downgrade affect sales in Westchase? On Friday night when the news broke of the S & P downgrade of the United States rating pushing it from the iconical AAA to the AA+, many held their breath for the markets to open on Monday. While many market experts said the downgrade had already been priced in, that didn’t hold true as the market slipped below their lowest after the 2008 financial crisis time period. So what does this really mean for buyers and sellers? For buyers, it could actually be a good thing, at least through the next election. Many predict that the Federal Reserve will keep rates artificially low to spur on the housing sector. Rates were fantastic on Tuesday, when I wrote this …
Thursday, August 4, 2011
Homes in the Northwest of Tampa Bay that push the $1 million-plus price point
You may have seen or heard about the Bravo series Million Dollar Listing. The show is set in California and features super high-end, luxury listings and completely over-the-top real estate professionals in Hollywood, Malibu and Beverly Hills. The greater Tampa Bay area has its fair share of luxury listings. There are 627 listings over $1 million in Hillsborough and Pinellas counties. About 41 of those are in the Northwest area of Tampa Bay, including Westchase, Keystone and Odessa. The Keystone-Odessa region is especially ripe with million dollar listings. The area's ski lakes provide a perfect backdrop for these luxury properties, which range in price from $1 million to $3.75 million. Since Jan. 1, 14 of these luxury listings have sold…
Thursday, June 30, 2011
Camden Westchase, the newest slated apartment complex will add 348 rentals, to the Westchase area.
By my count we have 10 apartment complexes. When the new Camden Westchase is complete the number will increase to 11. You may recall in my article “Landlord’s Market means Tenants must do their Homework” that I highlighted that it’s a landlord’s market so the market is prime for apartment complexes to thrive on those that won’t or can’t buy a home now. Nadia White, leasing specialist with West Park Village Apartments for the past 6 years, says that the “West Park Village Apartments are at a 99 percent occupancy rate.” Ms. White says “this is the highest occupancy rate she can remember since she started in 2005.” West Park Village Apartments and Lexington Park are the only apartment complexes that are technically within the Westchase …
Thursday, June 23, 2011
Lenders have recognized that many potential borrowers have extenuating circumstances. The waiting period may be short than you expect!
Last week I discussed the effects of the credit blemishes left after a short sale or foreclosure on a credit report. I also explored how to rent after the devastating loss of a home and what a potential tenant and landlord can expect during the process. So how long will a borrower with a short sale credit blip have to wait to buy another home? There used to be a hard and fast rule of two or more years. Now, the answer to that question is subjective. “It differs based on the type of loan and how the underwriters look at the extenuating circumstances on an independent case-by-case basis," said Robby Molony, senior loan officer at PHH Home Loans in Tampa Bay. Robby Molony provides the outline below as a guide for the different types of …
Jason & Dyan Pithers
1:30 pm on Monday, September 26, 2011
Shari Miller, the Community Association Manager with Century Managment, confirmed that the 2011 Maintenance fee is $161.65. She believes this fee will likely increase a little for 2012 but she is not sure how much at this point in time. more ›