Archive for September, 2007
Beautiful Cory Lake Isles lakefront home in Tampa Fl
Gated community home at 10911 Cory Lake Dr in Tampa Fl for sale
Beautiful lakefront 3BR/2BA home has ceramic tile floors, spacious granite kitchen, formal dining room, and a luminous family room. Foyer entry with dramatic vaulted ceiling, plant shelves and archways inviting visitors to the rest of the home. Spacious kitchen opens to the family home and features 42-inch maple cabinets, stainless steel appliances, pantry, breakfast bar, recessed lighting and breakfast area. Dining room features decorative niches, columns and plant shelves, all accented by the vaulted ceiling. Family room provides openness perfect for entertaining ith /triple slider leading out to covered lanai and a magnificent lake view. Master suite includes slider to the lanai, vaulted ceiling, enormous walk-in closet, garden tub, separate shower and granite countertops. The gated community of Cory Lake Isles has fantastic amenities including a waterfront beach club with a boat ramp, jogging and biking trails, and hockey rink.
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Median Prices and Average Prices
Newspaper accounts can lead to confusion.
What is the difference between the median home price and the average sales price??? You may have seen newspaper stories about the decline in median sale prices for residential real estate in Tampa. A casual reader might see a headline “Wesley Chapel Home Prices down by 5%” and conclude that the value of their home has decreased by 5% – which is not necessarily true. Upon closer examination, there is a big difference between a median sale price and the average sale price. These are two statistical terms: Median means half of all purchases fall below that sales price, and half are above it; while the Average is obtained by adding up all the sale prices and dividing by the total number of sales. For example, if there were 5 sales in Seven Oaks totaling $200K, $300K, $400K, $500K and $900K; the median is $400K because half the sales were below and half were above. The average is $460,000. The widely reported decline in median sale prices means that lower priced homes have been selling more frequently than higher priced homes. A more valid determination of your home’s value can be found by examining recent sales in your neighborhood, and in communities similar to yours. For a free Comparative Home Value Analysis, contact Team Bohannon today.
THE FEDERAL RESERVE AND MORTGAGE RATES
No Immediate Relief for Home Buyers
How will the Federal Reserve’s decision to cut a key interest rate impact you? Are you waiting until rates come down to buy that dream home Tampa Palms? While the Fed’s move to trim its federal funds rate from 5.25 percent to 4.75 percent was met with exuberance on Wall Street, home buyers might not see an immediate benefit.
Aside from the federal funds rate, other actions at the FOMC meeting affect short-term interest rate maturities and the Overnight Lending Rate. These moves directly impact on the Prime Rate, however, it is a mistake to conclude such reductions will cause a similar movement in mortgage interest rates.
Mortgage interest rates fluctuate with the market for mortgage-backed securities (MBS), which trade on a daily basis. Money to purchase mortgage-backed securities comes from overseas and domestic investors, many of whom have been spooked by issues in the subprime markets. The huge flow of funds to and from these securities is subject to competition from the stock market and complex economic and political influences. The yield of a an MBS fluctuates like other securities, and investors who previously viewed mortgage backed securities as a safe haven have become wary of the underlying quality of the assets (due to foreclosures and other factors). The Fed’s move to cut rates also weakened the US Dollar, which further reduced mortgage yields.
A key indicator for the movement of mortgage interest rates is the 10 year Treasury bond yield. This indicator is widely published, and if it is heading up…we will likely see higher mortgage rates.
Buying a Home? Obtain a CLUE Report.
The insurance industry's database of claims can tell you the history of a home.
Is the home that you are buying insurable? Have previous owners filed insurance claims that would increase your Hazard / Home Owner’s Insurance rates? How can you know for sure? While Buyers are normally given a Seller’s Disclosure prior to making an offer, what about pervious owners – have they filed insurance claims? Does that dream home in Fishhawk Ranch have a history of problems? If you are concerned about previous insurance claims, now there is a solution. As part of an offer to purchase a home, you might require that a Seller provide you with a C.L.U.E.® report (Comprehensive Loss Underwriting Exchange). A C.L.U.E.® Home Seller’s Disclosure Report is an independent source of information about insurance claims for a property within the past five years. For more information, visit ChoiceTrust.com.
Brand New Waterfront Home For Sale in the Cory Lake Isles Community of Tampa, Florida
Make this lush island paradise your home - boating, beach relaxation, fishing, and more. 10907 Cory Lake Drive is ready for move-in today!
Bring your boats to this remarkable brand new, professionally staged home with open, airy floorplan. Magnificent waterfront home site offers 5BR+Study/4BA/3,478 sq. ft. and front conservation view. Must see the grand 28×18 master suite that features sitting area, two sets of French doors leading out to a private balcony overlooking the canal. Retreat to exquisite spa master bathroom that features jetted corner tub, custom tile work, Zodiac counter tops, his and her separate bathrooms that are combined with large see through walk-in shower. Additional over-sized bedrooms complete the upstairs, 5th bedroom includes large closet and private full bathroom. Stroll down the stairs to the elegant formal living and dining rooms with open and airy feel. Entertain in the gourmet kitchen that features 42-inch maple cabinets with crown molding, GE-Profile stainless steel appliances, ceramic tile floors, breakfast bar and separate breakfast area. Kitchen over looks the family room which features triple slider and awesome view of the canal. Home is located in popular Cory Lake Isles community, which offers lush island paradise with a 6,000 square foot lakeside beach club right at your doorstep, roller blade, hockey, boating, bass fishing, and white sand lakeside beach. This community will leave the impression you have entered your own resort!
