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 25, 2011
As regulators and politicians talk about how to reduce toxic debt on the bank’s balance sheets, could we feel the effects in Westchase?
The powers that be in Washington are knocking around a proposal for bulk purchase of foreclosure properties. What is a bulk purchase? Who will be making the bulk purchases and why? At what prices will these purchases be made, what will happen after the purchase and will we feel the effect in Westchase? This proposal is being considered because of the backlog of foreclosures that have mostly not yet hit the market yet. The number of foreclosed homes cannot be pinned down but large numbers in excess of 4 million nationwide have been used in discussions in Washington. This possible bulk purchase plan is an idea that bundles of mortgages will be purchased, akin to a portfolio of mortgages, for approximately 35-40 percent of their appraised…
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 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, July 28, 2011
How changes in the Federal Housing Administration loan limits will affect local buyers.
The Federal Housing Administration monitors median home prices throughout the nation. Its determination of median home prices in a particular area is what drives the FHA loan limit. This limit varies in different locales. What is the current and new loan limit? What is the criteria for an FHA loan? And what does the reduction in available FHA loan limit mean to local buyers in the market now or the future? The Tampa Bay FHA current loan limit is $292,500. Over the past 3-4 years, FHA loans have come back into fashion. Fifteen to twenty years ago, they were all the rage. As no documentation, stated income and low money down loans became easier to come by, FHA fell out of favor. With the credit crisis, this loan is now the most …
Thursday, July 21, 2011
After a strong 2010 year end real estate finish and two quarters where sales were up -- should we be optimistic?
Market trends give us reason to be cautiously optimistic as inventory in the Tampa Bay area, including Hillsborough, Pasco and Pinellas counties, trends down. Less homes on the market means buyers are buying and there is less to choose from for other qualified buyers. That is certainly true for Westchase, where inventory has been low through our first two quarters. Westchase’s strong first and second quarter is a positive sign for our area. Inventory is low because residents are staying in their homes unless they have to move and they have resources to fall back on to pay monthly bills if they find themselves unemployed suddenly. You may remember in April that the Tampa Bay Business Journal reported that 33626 was one of the wealthiest zip…
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 ›