Archive for September, 2008
Lock in Low Rates and Buy Real Estate in Tampa Now!
Interest rates are low, there is a lot of property on the market and if real estate isn’t on its way up now it will be soon enough. The beauty of buying today is that you absolutely know that you are not buying in an elevated market, now is the time to buy a bargain and you as the buyer have the opportunity to bargain with the seller. Take advantage of low interest rates while they are still available and invest in some Tampa Real Estate. If you have 20% to put down you should be able to secure a loan and a cash offer really puts you in the captains seat.
If you are interested in real estate in the Tampa Bay area contact me, Annette Bohannon, today at 800-373-4708. My team and I are experts in the Tampa Bay real estate market and put our years of experience behind us to help educate and inform you. There is no better time than now to buy real estate in Tampa, call Team Bohannon today!
The Bailout, Short Sales and Foreclosures in Tampa
The details are still evolving, but the proposed bailout is now estimated to be $700 Billion. How will this impact the Tampa housing market? Will the bailout address the problems of distressed homeowners in the Tampa Bay area, or will Congress cater to the needs of Wall Street?
· The $700 billion that is being proposed is much less than what will in reality be needed, I expect to see the total cost of this crisis including what has already between spent exceed $1.5 Trillion.
· There are currently over 10,000,000 homeowners in distress that either are in foreclosure or in default on their mortgages, there is no way that the government will be able to take over all of these mortgages so other solutions will have to be found.
· We know from the FDIC takeover of Indymac that the government is negotiating Short Sales aggressively and doing what they can to prevent foreclosures. This is an excellent predictor of what will happen as the government takes over bad mortgages.
· The director of the FDIC Sheila Blair has stated “our goal is to get the greatest recovery possible on loans in default”. What does this mean? The FDIC is looking to get every penny it can and that is going to be through short sales – not REOs (Foreclosures Owned By Banks). There have even been discussions about temporarily stopping FDIC foreclosures while ‘alternative’ (read short sales or workouts) solutions are explored.
· We have seen several different proposed bills and new legislation that actually provide an incentive to banks to work out short sales with everything from a $2,500 credit paid to a percentage of the loss being paid by the government (read us the taxpayers).
The bottom line is that the current bailout will likely increase Short Sale opportunities in the Tampa market, not decrease them. The government will not be able to take over the total number of mortgages that are in danger of foreclosure so aggressive prevention will be necessary.
Hence, the need for skilled Realtors with proper training and recent experience handling Short Sales is greater than ever. Realtors in Tampa need to know how to address these issues now – we have seen the approval times on well presented short sales shrinking and agents are getting a much higher percentage closed. Contact Team Bohannon today to speak with a Distressed Property Expert (CDPE) to discuss Tampa Short Sale options.
- by dale bohannon
Thinking New Tampa? Think Richmond Place
Like most New Tampa communities Richmond Place offers people a great community in which to live, coupled with the opportunity for a fantastic lifestyle. Conveniently located in the center of New Tampa, Richmond Place has it all. Richmond Place has a superb community center which offers tennis, swimming, basket ball courts, playgrounds and nature trails. Residents of Richmond Place can walk to restaurants, shops and a movie theater. With single family homes ranging in price from the mid $100’s to mid $200’s, Richmond Place is an affordable community with so much to offer.
If you are looking for a community which you can afford to live in and enjoy look no further, call me, Annette Bohannon, today at 800-373-4708. My team and I have the knowledge to make your real estate search educated and informed. New Tampa is made up of several different communities, Richmond Place being just one of them. For a complete rundown of New Tampa Real Estate contact Team Bohannon today.
Need to Sell Your Tampa Home Now?
If you are considering selling your Tampa home, here are 8 ideas to consider.
1. Don’t Wait – Act Now
(a) By many accounts, Tampa home prices are expected decline by an additional 15-20% between mid 2008 and 2011.
(b) Even though prices have fallen from historical highs, NOW should be the best time to sell in the Tampa Bay area unless you are prepared to wait for at least 5 years.
2. Fix it Up & Clean it Up
(a) To successfully sell you home, you must win the “beauty contest”.
(b) Fix any visible items that are in disrepair.
(c) Eliminate any odors from pets or smoking.
(d) The home must be “move-in” ready, since there is so much competition.
(e) A fresh coat of paint (all rooms “builder beige” or a cream color) is helpful.
(f) Painting the garage floor or pool deck may add value.
(g) Cleaning and stretching carpets is recommended.
(h) Pressure wash the driveway, sidewalks, deck, soffits, lanai and pool cage.
(i) If a nearby home is in foreclosure and detracts from yours, pay someone to mow that lawn.
3. Stage It
(a) Remove clutter. Remove unflattering or out-dated furnishings.
(b) Remove over-sized furniture and items that impede the traffic flow.
(c) Remove small appliances and most items off the kitchen counters.
(d) Use the Team Bohannon truck to take excess items to a storage facility.
(e) Consider landscaping, flowers, paint, carpet, pressure washing and light decorative accents.
4. Price it Agressively / Low
(a) To be sell your Tampa home, you must win the “price war”.
(b) Prices have fallen by 20% in the last year, stay ahead of the curve.
(c) Buyers don’t care what we want/need/paid, or what a neighbor sold for years ago.
(d) Buyers won’t pay what a home is “worth” today, but are seeking protection against future declines.
(e) Homes should to be priced 5%-10% below “market value” to sell.
5. React Quickly if No Offers
(a) You should expect 8-12 showings within the first 21 days on the market.
(b) A lack of showings indicates the home is over-priced; a reduction is required.
(c) If you have ample showings but no offers, then a price reduction is required.
6. Hire the Top Tampa Real Estate Agent
(a) Hire the best, most experienced & aggressive selling (listing) agent in Tampa.
(b) Do not select a Realtor based upon a suggested listing price; as some agents will quote an unrealistic price to “get the listing”; in reality, buyers determine the price.
(c) Insist on an agent who actually invests in marketing and advertising.
(d) Ensure your Tampa Realtor has the experience and the system in place to handle any difficulties; there are ”88 Types of Turbulence” or issues that might arise between contract & closing.
7. Play the Banker
(a) Consider “Seller Financing” or a “buy-down” of the interest rate.
(b) Offer down payment assistance through Ameridream or Nehemiah (until October 1st).
(c) Offer a “Seller Credit toward Closing Costs & Pre-paids”; and/or prepayment of HOA or CDD fees.
(d) Keep the focus on your bottom line, not the structure of the agreement.
8. Take the Offer
(a) When weighing an offer, consider your continued carrying costs and any price reductions that may be required in the future by not accepting the offer.
(b) Please give permission for the home to be sold quickly – try to avoid “Seller’s Remorse”.
(c) The first offer is usually the best offer, but the choice is entirely yours. We have often seen homeowners reject the first offer, only to reduce the asking price months later after values have declined further. Your agent should present you with updated market data, and experienced advice without any pressure.
To sell your Tampa home now, contact Dale Bohannon at 813-979-4963.
Tampa Sales Trends by Zip Code from Trulia – Heat Map Page
Tampa Price Trends
One of the many websites we use to market Team Bohannon listings is Trulia. Check out Trulia’s Tampa Heat Map Page and see the table under the map for sales pricing trends.
In addition to Trulia, Team Bohannon listings are marketed on: Zillow, YouTube, Craig’s List, Yahoo, Google, MSN, AOL, Realtor.com, Homes.com, FloridaMoves.com, ColdwellBanker.com, Kijiji.com, Propsmart.com, Oodle.com,TourFactory, Distinctive Home Tours, Vast, InTampaFlorida.com, TampaMoves.com, number-1-agent.com, newtamparealestate.com, homesinnewtampa.com and many others. Higher priced listings also appear on duPontRegistry.com, NewYorkTimes.com, IHT.com, ColdwellBankerPreviews.com.
- by dale bohannon
Tampa Bay Florida Offers Much More Than Just the #1 Beach
Tampa Bay Beaches
While everyone who reads or knows how to Google now knows that the #1 beach is a Tampa favorite, Caladesi Island, Tampa has much more to offer than fantastic beaches. Tampa offers culture, first-rate sports and proximity to endless attractions and amusements. Tampa Bay is a great place to visit and an even greater place to live.
For a complete tour of Tampa Real Estate contact me, Annette Bohannon, at 800-373-4708. New Tampa is an area which offers lifestyle, convenience, architecture and ambience. A beautiful thing about the neighborhoods in New Tampa is that they are gated communities offering active lifestyles a place to play in a beautiful setting. Unlike older areas of Tampa homes are regulated by DRBs, allowing for an attractive environment. My team and I can educate you on the different areas of Tampa and find you a home that suits your needs. Contact Team Bohannon today at www.intampaflorida.com.
Short Sales: A Win-Win Scenario or a Minefield?
The average Tampa Realtor sells less than 1 home per month and has ZERO training negotiating short sales with banks. I am selling 10 homes per month in the Tampa Bay area, and have successfully implemented CDPE (Certified Distressed Property Expert) training to negotiate with dozens of banks. Check out this article for more details on some perspective on short sales. As the Sacramento Bee states:
”Short sales are a financial tactic that appears only in real estate downturns. Such sales are supposed to be a win-win that gets the seller out of a tight spot, a buyer a good deal and the bank off the hook….But what sounds like a logical alternative to the usual outcome of defaults – foreclosure – can be a minefield. Critics charge banks with being shortsighted and a menace to neighborhood home values. Banks say they have obligations to their investors. Some say inexperienced real estate agents forward irrational offers and incomplete paperwork, then expect fast miracles from their inundated staff members.
The result inside this real estate downturn has often been frustration for sellers, buyers and banks. Banks have been resistant, operating in a new financial landscape that requires permission from global investors and other parties. Many real estate agents simply avoid short sales, steering buyers to bank repos. And sellers have become frustrated by complications and 60- to 90-day timetables.”
- by dale bohannon
Pebble Creek is Great Golf Course Living in Tampa Bay Florida
If you love to golf and want to live in a golf community look at Pebble Creek today. You can find a home in your price range and enjoy living the lifestyle you want all at the same time. Homes in Pebble Creek range in price from the mid $100’s to mid $200’s for single family homes. Pebble Creek has many activities available offering more than just golf, there are tennis courts and swimming pools as well as easy access to Flatwoods Nature Preserve for picnics, biking, rollerblading, hiking, fishing and canoeing. Location, lifestyle and affordability make living in Pebble Creek a perfect match.
Pebble Creek is at the top of Tampa Bay Real Estate. New Tampa communities offer graceful living in close proximity to downtown Tampa, beaches, attractions, medical facilities and fantastic amenities. If you are looking for a fabulous Florida community to live in look no further. Call me, Annette Bohannon, today at 800-373-4708. My team and I have the knowledge necessary to make your Tampa real estate search educated and informed. For information on all available listings in New Tampa call Team Bohannon today.
New Tampa Offers Everything You Need Including Location
New Tampa offers community, location and comfort in close proximity to anywhere you might want to be. Take West Meadows for example. West Meadows is a New Tampa community located in northeastern Tampa, less than 30 minutes from Downtown Tampa and the Tampa International Airport and closer to the University of South Florida and the North Tampa Medical Center. West Meadows places you close to Gulf Coat beaches as well as the top tourist attractions that exist in our country. Busch Gardens and Adventure Islands Water Park are within a 20 minute drive and Sea World, Walt Disney World, Epcot Center and Universal Studios are all only a 75 minute drive.
West Meadows is complete with recreational facilities that include swimming and tennis, as well as terrific schools. If you are interested in looking at available property in West Meadows contact me, Annette Bohannon, today at 800-373-4708. I have access to all available listings in New Tampa that are available today. When it comes to New Tampa Real Estate I have the knowledge and expertise to make your real estate transaction educated and informed. For the best in Tampa Real Estate contact Team Bohannon today.
Short Sale Success – 10931 Cory Lake Drive
On Cory Lake
Another successful short sale! Team Bohannon’s “short sale” listing at 10931 Cory Lake Drive just closed. As a Certified Distressed Property Expert (CDPE), I successfully listed, found a buyer, assembled a complete package, and negotiated with the bank on the homeowner’s behalf. The homeowner is relieved, the buyer is thrilled, and the community is happy to have a new neighbor. Worried about selling…a short sale might be the answer for you. Call Dale Bohannon at 813-979-4963 for answers.
