Archive for October, 2009
Seven Oaks Real Estate Market Report
Seven Oaks is a signature community in the heart of Wesley Chapel. If you are curious about the real estate market in Seven Oaks, please see our new 4 page Seven Oaks Market Report that shows statistics on Active Listings, Contracts Pending, and Closed Sales over the past 6 months. The report shows average prices, absorption rate, and list-to-sales price ratios. The Seven Oaks Market Report contains colorful charts contrasting Available Listings – vs- Contracts Pending, Sold Listings -vs- Expired Listings, Days on the Market (DOM), and Average Sale Prices. To see homes for sale in Seven Oaks, click here. For more information, contact the Realtors who have sold over 75 homes in Seven Oaks – Team Bohannon of Coldwell Banker at (813) 979-4963.
About Seven Oaks
Seven Oaks is master-planned community in Wesley Chapel located just north of New Tampa at the intersection of I-75, Bruce B. Downs and State Road 56. Encompassing 1,200 acres, Seven Oaks has over 700 acres of open space, including 485 acres of wetlands and conservation areas that will eventually be home to over 3800 residences. Seven Oaks has a range of distinctive neighborhoods containing single-family homes, townhomes and eventually apartments. Seven Oaks features tree-lined boulevards, boardwalks, nature trails and neighborhood parks. A multi-million dollar community center will include a junior-Olympic competitive pool, resort-style pool, waterslide, 5 tennis courts, baseball, basketball, volleyball, fitness training and a coffee shop and juice bar.
Are Distressed Homes Worth It?
Looking to buy a short sale or foreclosure? Wondering how to avoid the pitfalls, or what strategies to employ? The National Association of Realtors is reporting that nearly a third of overall housing sales were distress sales, but the impact in Tampa has far exceeded national averages. Short sales can be fraught with uncertainties and extended delays that cause real headships if a buyer is on a fixed time schedule. Bank owned foreclosures (REOs) often see bidding wars and multiple offers from cash buyers looking to capitalize on below market asking prices. And all distressed properties require extensive inspections and potential repairs. An article in today’s Wall Street Journal examines these questions and offers some guidance that applies to Tampa home buyers. Read full WSJ article.
As Certified Distressed property Experts (CDPEs), Team Bohannon has special training, systems and strategies to help you through this process. For more info on short sales, see: http://intampaflorida.com/short-sale-basics/
Fed Says 1 in 3 Loan Applications Denied
Pre-approval is more important than ever for Tampa home buyers. According to a Federal Reserve study, nearly one in three borrowers applying for a loan in 2008 was denied as lenders enforced tight standards to respond to the mortgage crisis. Read the AP article.
Many buyers are denied even though they have a pre-qualification letter, which can lead to expensive last minute surprises before closing. To avoid the wrong loan, or the wrong lender, consult with a Team Bohannon Value-Added Real Estate Consultant. Our goal is to provide you with a systematic process and better information that will lead to selecting the right loan for your personal circumstances.
Many consumers make the mistake of selecting a loan and lender based solely on the interest rate, or by calling an acquaintance in the mortgage business. To make a better decision, we employ a Quantitative Cost Analysis®, a Lender Comparison Worksheet®, and a Qualitative Service Analysis® to evaluate the optimum scenarios. By going way beyond what a traditional Tampa Realtor® would offer, Team Bohannon consultants help navigate a tumultuous sea of choices and deliver a highly differentiated value proposition.
What the housing ‘rebound’ means for you
Money Magazine has an article about the housing market that is more thoughtful than most. The story illustrates that the real estate “recovery” is far from uniform. While lower priced homes are selling fast, mid-tier properties are lingering, and high-end homes are just sitting. The article covers strategies for buying and selling in each pricing segment. Click here for the full article.
