Archive for New Tampa real estate
Price to Market – Anchoring
If only we did not buy at the peak, or if we sold a few years ago! While many of us understand that local real estate values have declined 30% – 50% in abstract terms, doing the math on our own home often results in shock and disbelief.
Homeowners have a tendency anchor their estimate of their home’s worth to the price they paid. While the price you paid maybe very vivid in your mind, you may be better off disregarding that number. As Dan Ariely, author of Predictably Irrational notes, “the danger of anchoring is that it can cause regret, which usually isn’t very useful in decision-making…With investing, focusing on what’s already happened is generally a bad strategy. The decision at any point should be only about looking forward.”
When discussing the “High Price of Ownership”, Ariely’s experiments on behavioral economics show that ownership changes our perspective on the value of an asset. “The more work you put into something, the more ownership you begin to feel for it (think of assembling a piece of Ikea furniture). Once we take ownership of an idea, we probably fall in love with the idea more than we should. We value it for more than it’s worth. And quite often, we have trouble letting go of it because we can’t stand the idea of a loss.”
It is only natural to regret the loss of equity and unfortunate timing of the current market, but taking action today can protect your financial security and prevent the additional losses that are expected over the next few years. The main question should be: given the current state of the market, how can we maximize your outcome?
How can we improve the odds of selling your home for top dollar? To learn about our repeatable plan and home selling system, contact Team Bohannon at Coldwell Banker today (813) 979-4963.
“I am Not a Lead” – The Privilege of Serving
Ran across this manifesto last year and was impressed. Spoke to Marc Davison of 1000 Watt Consulting and enjoyed his thoughts on the real estate business and the mindset that traditional agents have about ”leads”. Rather than relying on technologies that de-personalize or attempt to automate “lead response”, Realtors should focus on listening, absorbing and responding with accurate information. This is not about us, it is about the client. The fundamental approach should be to provide high-value, relevant information that is aligned with a client’s goals. One can only build a lasting relationship by treating individuals with respect. Realtors seeking to create “raving fans” and a durable competitive advantage must connect at a deeper level over an extended period of time to earn the privilege.
New Tampa Real Estate Market Report
Curious about real estate market conditions in New Tampa (33647)? Check out our market dashboard with charts about:
- Listing Prices vs. Sold Prices
- Number of Listings, Contracts, Sales & Expireds
- Days on Market
Click New Tampa Real Estate Report for 5 charts and analysis.
New Tampa Home Sale Update
Low interest rates, rock bottom prices and the first-time home buyer tax credit have fueled home sales across the nation. To gauge the local impact of these forces, we analyze home sales in the New Tampa market, zip code 33647.
August 2009 MLS data shows that there were 357 single family homes for sale in New Tampa, while 96 homes went under contract, and 60 homes closed during the month. Compared to August 2008, there are now 39% fewer homes for sale, and 68% more homes went under contract during the same month. See the chart below for a 2 year view of New Tampa real estate market activity showing Active Listings (green), Contracts Pending (red line), and Closed Sales (gray):
Curious about the composition of the Active Listing Inventory in New Tampa? Think everything is a short sale? As of September 12, MLS data shows that there are 331 homes for sale in New Tampa. Of those, 14 are Banks Owned Foreclosures (REOs), 89 are short sales (pre-foreclosures), and 228 traditional listings (home owners & new home builders).
If we look at market segments, the under $200,000 market in New Tampa leads the way. For example, in August of 2008, just 13 out of 94 homes closed for under $200,000. In August 2009, 34 out of 77 homes went under contract. Realtors are reporting anecdotal evidence of shortage and multiple offer situations, and the data backs this up. While the number of sales has increased, however, prices have declined from an average of $91 per square foot to $79 per square foot from August 2008 to August 2009.
The New Tampa (33647) market includes: Tampa Palms, Hunters Green, Arbor Greene, Cory Lake Isles, Grand Hampton, West Meadows, Richmond Place, Live Oak Preserve, Pebble Creek, Cross Creek, Easton Park, Basset Creek, Heritage Isles and other neighborhoods. Click on the neighborhood above to see homes for sale. Contact Team Bohannon at 813-979-4973 to locate, negotiate and close on your dream home.
Spend the Weekend at the New Tampa Arts Festival
The third annual New Tampa Arts Festival takes place this weekend adjacent to Grace Episcopal Church, near the Publix Shopping Center off of Bruce B. Downs and Tampa Palms Blvd. The festival will take place on Saturday and Sunday and offers attendees a chance not only to view great art but also to speak with the individual artists and learn a bit more about their art and their inspirations. The Tampa Bay area offers a great deal of culture, and the arts are a significant part of the overall community.
Consider relocating to New Tampa Florida today, where you can enjoy the wonderful Florida weather and live a wonderful lifestyle. If you are interested in looking at available property in New Tampa contact Team Bohannon today at 800-373-4708. team Bohannon has access to all real estate listings in New Tampa that are available today. When it comes to New Tampa Real Estate Team Bohannon has the knowledge and expertise to make your real estate transaction educated and informed. For the best in Tampa Real Estate contact Team Bohannon today.
Looking to buy or sell real estate in Tampa Bay Florida?
For a complimentary look at all available listings in the Tampa Bay MLS please visit www.intampaflorida.com. Team Bohannon can be your tool for real estate success, arming you with the knowledge and expertise necessary to make a smart real estate decision. Call Team Bohannon today at 800-373-4708, to learn more about how Tampa Bay Florida is doing and why it might be a good idea for you to take a look at Tampa property or sell your Tampa home.
Discount Flights Offered Between Grand Rapids MI & Tampa Bay FL
Allegiant Air is beginning non-stop service beginning February 3rd between Grand Rapids Michigan’s Gerald R. Ford International Airport and Tampa Bay. Allegiant will offer four flights a week for an introductory price of $89 each way. These bargain fares are only available on the airline’s web site. Tampa Bay is one of the top 10 flight destinations for travelers out of the Grand Rapids area. Allegiant Air is a Las Vegas based airline offering discount air fares. In a struggling economy Allegiant is staying strong and is hopeful that if demand remains strong with the Tampa route they will be able to add other new routes to their service repertoire.
Travel in and out of the Tampa Bay area has never been easier and the new service being offered between Grand Rapids and Tampa makes owning a second home in Tampa that much more desirable and convenient. If you are interested in looking into Tampa Bay Real Estate contact Team Bohannon today at 800-373-4708. Team Bohannon has access to all available listings in Tampa and specializes in New Tampa Real Estate.
Looking to buy real estate in Tampa Bay Florida?
For a complimentary look at all available listings in the Tampa Bay MLS please visit www.intampaflorida.com. Team Bohannon can be your tool for real estate success, arming you with the knowledge and expertise necessary to make a smart real estate decision. Call Team Bohannon today at 800-373-4708, to learn more about how Tampa Bay Florida is doing and why it might be a good idea for you to take a look.
Tampa Bay Florida Focuses on its Future
Tampa Bay Partnership trying to focus on how Tampa Bay can excel in tough economic times. Their strategic plan “Bigger Bolder Better” focuses on 2009-2011 and how to become competitive in a global market. The partnership sees that instead of working against other Florida areas, the region needs to bind together and discover where its strengths lie. The intense commitment to reinventing Tampa Bay is here and an economic turnaround is meant to be the outcome.
Tampa’s commitment to its future makes it a desirable area to live in. If you are interested in living in a focussed community contact Team Bohannon today at 800-373-4708. Team Bohannon specializes in New Tampa Real Estate and will make it their mission to meet your needs.
Looking to buy or sell real estate in Tampa Bay Florida?
For a complimentary look at all available listings in the Tampa Bay MLS please visit www.intampaflorida.com. Team Bohannon can be your tool for real estate success, arming you with the knowledge and expertise necessary to make a smart real estate decision. Call Team Bohannon today at 800-373-4708, to learn more about how Tampa Bay Florida is doing and why it might be a good idea for you to take a look at Tampa property or sell your Tampa home.
If Golf is Your Thing Then New Tampa is the Place to Call Home
One of the great things about living in Florida is that you can play golf year round. New Tampa offers wonderful communities to live in, many of which have their own golf courses. One such community is Hunter’s Green. Hunter’s Green Country Club offers a Tom Fazio designed golf course. The golf course is beautiful and challenging. Recently updated the course is in fantastic condition. The club offers a variety of programs, events and clinics as well as having a first-rate staff. If you are looking for golf course living at its best look no further, Hunter’s Green is the New Tampa community for you.
Hunter’s Green offers its residents a wonderful way of life, a well-planned community complete with a country club which offers golf, tennis and swimming as well as a restaurant and fitness facilities. The open space which winds its way through Hunter’s Green offers nature paths and natural beauty to enjoy. Call Team Bohannon today, 800-373-4708, to get an in-depth tour of Hunter’s Green and all it has to offer.
Looking to buy real estate in Tampa Bay Florida?
For a complimentary look at all available listings in the Tampa Bay MLS please visit www.intampaflorida.com. Team Bohannon can be your tool for real estate success, arming you with the knowledge and expertise necessary to make a smart real estate decision. Call Team Bohannon today at 800-373-4708, to learn more about how Tampa Bay Florida is doing and why it might be a good idea for you to take a look.
In Tampa Florida Wesley Chapel Has It All, Including a New Mall
This week in Wesley Chapel there was no sign of a recession as thousands waited in line for the new outdoor mall, The Shops at Wiregrass to open. People were ecstatic about the opening of the new Barnes and Noble in particular, happy to have a book store in close proximity without having to make the drive into Tampa. The Shops at Wiregrass are seen as a fantastic new amenity to Wesley Chapel, offering a variety of stores and restaurants that residents until now had to go elsewhere for.
Wesley Chapel offers great Tampa Bay living, as do the nearby communities of New Tampa. These Tampa Bay communities expose residents to open space and active lifestyles. If you are interested in exploring real estate in Wesley Chapel or New Tampa look no further. Team Bohannon offers the expertise you need to make your real estate search educated and informed.
Looking to buy real estate in Tampa Bay Florida?
For a complimentary look at all available listings in the Tampa Bay MLS please visit www.intampaflorida.com. Team Bohannon can be your tool for real estate success, arming you with the knowledge and expertise necessary to make a smart real estate decision. Call Team Bohannon today at 800-373-4708, to learn more about how Tampa Bay Florida is doing and why it might be a good idea for you to take a look.
Is everything a foreclosure or a short sale?
Does it sometimes seem like everything is a foreclosure or a short sale? Do not despair. While REO (real estate owned by banks) and short sales (pre-foreclosures) are a new reality in the Tampa real estate market, many homeowners and builders have homes available for immediate occupancy. My business coach talks about “the power of knowing what is true”, so I took a closer look at all listings and closings of single family homes for a sample zip code (33647 New Tampa) in October.
Of the 74 homes entering the market in October, there were: 10 Bank Owned Foreclosures (13%); 17 Short Sales (23%); 6 Builder homes (8%); and 41 homes offered for sale by the homeowner (55%).
After examining the data from the 43 homes that closed between October 1st and October 30th in New Tampa (33647), I count the following: 7 were Bank Owned Foreclosures (16%); 5 were Short Sales (11%); 7 were Builder homes (16%); and 24 were offered for sale by the homeowner (56%).
- by Dale Bohannon
