Today I’m going to put up share some photos of homes that were on the Tampa MLS and did not sell. I contacted these home owners after the listing expired, listened to what went wrong, brought in my professional photographer and then relisted them. Subsequently they all sold.
Imagery is one of the most overlooked aspects of listing a home. FSBOs miss this and sadly many Tampa Realtors do as well. Regardless of the price point I use my photographer, be it a 30 thousand dollar condo in Largo or a 700 thousand dollar estate in North Tampa. We shoot them with one thing in mind: To sell your home.
Notice a difference?
These days the majority of buyers in the Tampa housing market, almost 90%, start their search online. Because of this, I place a heavy emphasis on aggressive internet based marketing. Flyers, magazine ads, and open houses are simply not where buyers are looking these days. You need to reach the consumer on their computer, IPAD or on their mobile device.
While your home will viewed by up to 60 MLS affiliates 24/7, daily ads are also placed by me outside of the Tampa MLS, on Craigslist, Backpage, Youtube and my blog. My ads rotate everyday both locally, in northern states and even Canada for specific properties.
In terms of exposure, my blog is currently showing up in the number one position on the first page of Google. What does this mean to you? It means maximum exposure from the strongest search engine in the world. With over 1.5 million results for Tampa housing market, your home deserves to be on the first page when buyers are searching.
Second are the photos of your home. This is absolutely imperative in today’s online image driven marketplace. Make no mistake consumers are 100% image driven, especially when it comes to Tampa real estate. Look at an advertisement for any product and all around that ad, are ways for the consumer to click away, at least a dozen or so. If that image is not enticing, poorly lit, poorly shot, or worse yet, blurry, the buyer will simply click away to another property. You need top of the line imagery that captures their interest and creates buyer demand. My photos create buyer demand for my clients.
My photographer worked as an illustrator for the St. Pete Times for over 20 years. Photos of our properties are rich, vibrant and frankly some of the best out there. It’s rare that you’re going to see photos of this caliber on the Tampa MLS I can assure you of that.
Finally there’s customer service. The number one complaint I hear from clients about their previous Tampa Bay realtor (aside from not selling their home) is that once the home was listed, they never heard from them again. I provide constant feedback with all of my clients and you may reach me at any time by phone, email or even text. Market feedback is incredibly important when selling your home and I push hard to get it from both buyers and realtors through the entire process.
Look at your competition, can you really afford not to have maximum exposure, world class imagery and top notch customer service when it’s time to sell? If you’re ready to move on with your life and ready to sell your home, please call me today 813-924-4468 or email me Jason@jasonbealsells.com
Real estate in Tampa continues to see more closed sales, more pending sales, lower housing inventory and an increase in median prices. The state of Florida as a whole shows the same positive trend according to the latest data released.
Statewide the sale of homes was up nearly 11 percent compared to the previous year. Closed sales usually occur one to three months after a contract has been signed by both parties.
Pending sales of single family homes also rose a whopping 40 percent from the August prior! Pending sales are homes that are currently under contract but have not closed yet.
The median price for homes also rose nearly 6 percent, up to $147,000 from a year ago. The median is the midpoint, or middle of pricing.
The Tampa housing market is showing strong signs of recovery over the last several months. In fact inventory is getting very tight and buyers are often surprised how difficult it is to find a home right now. Competition is fierce and you must be prepared to move quickly on a property if you like it.
Of course record low mortgage rates are also a driving force for the Tampa real estate market. This time last year the 30 year fixed rate was 4.27 percent. Currently it’s 3.60 percent and may even go lower.
The Tampa Housing Market is become busy once again for many reasons. Inventory is down, velocity is up and most of all, it’s affordable to buy a property again! In many cases owning is now cheaper than renting with the added bonus of a mortgage write off when tax time rolls around. Condos were hit particularly hard by the real estate crash and when owners walked away the financial strength of the associations were weakened.
A home owner’s association (or HOA) can exist in either a subdivision or a condominium. In short it enforces the rules and regulations for the community and maintains common areas. It usually collects dues monthly although may collect them quarterly or even annually. For condos this maintenance may include (but not limited to) the main grounds, landscaping, pool(s), exercise rooms, pest control and the exterior of the building. They will also cover the insurance for the exterior of the building as well. Other HOAs may even include water or basic cable.
If you’re a buyer and considering purchasing a condo in the Tampa Bay real estate market, there are many things you need to take into consideration. For instance, do you plan on living in the condo or renting it? If you’re going to rent the condo you need to check with the HOA first and make sure there are no rental restrictions. Some HOAs may have mandatory owner occupancy for 6 months or even two years before the owner may rent it out. As an investor it wouldn’t do you much good to own a condo that is required to sit empty for two years!
Another thing to consider is the deed restrictions. Are these rules and regulations something you are comfortable adhering to? Is there anything you take issue with? Make sure you understand them clearly before moving forward.
One of the most important things when purchasing a condo is the overall fiscal strength of the HOA itself. Some condo associations may provide financial reports on request, but that’s rarely the case. Most times the financial reports and all other pertinent documents will be provided to the potential buyer in the event of a contract. It’s imperative that the buyer make the contract contingent on their review and approval of the HOA financials. How much are in the reserves? Is there a surplus each month or is the HOA running a deficit? Are there any upcoming special assessments coming up? There are many questions that need to be answered.
The Tampa Bay housing market has come a long way over the last several years. Condominiums struggled as buyers defaulted and HOA funds ran dry. These days as the Tampa real estate market stabilizes, so do the condo HOAs. That being said, you can never be careful enough and it’s important you have a realtor you understands process of buying a condo.
The new numbers are in for July and shows the Tampa Bay Real Estate Market is getting stronger every day. When compared to July of 2011 the amount of new homes for sale has actually increased 21%. Running parallel to that are pending sales (homes that are under contract and have an expected closing date) also up 25% from the year prior. Real Estate in Tampa is also selling quicker than it did last year. Days on the market are down nearly 37% from 2011 and better yet the median price is up 7.4% to $145,000. The average sales price is currently $190,000 which is also up 7.8%.
When it comes to sales to list price ratio we are seeing a 3.7% increase from last year or 93%. This ratio gives buyers an indicator of the percentage of the original asking price people are paying for the homes in Hillsborough County. This ratio is also a good idea for sellers to pay attention to when pricing their homes to sell. An increase would show a strengthening market for the sellers, which is precisely what is happening.
Inventory is decreasing in both single family homes as well as condos (certain aspects of our condo market have become especially competitive and many are selling above list price again; some upwards of 120% of list price!) In fact homes currently for sale have decreased nearly 32% or down to 6,447 from 9,439. Finally existing inventory in the Tampa Bay housing market has dropped a whopping 38% from July of 2011. This time last year we had 6.9 months of inventory to be sold off, currently we have 4.2 months.
I think sellers understand that if they price their home correctly they should receive an offer relatively quickly. This would help explain an increase sales to list price ratio. I still have noticed some reluctance on the buyer’s side to accept the new market realities, although education is often swift and can be a bit painful a few days after we view homes (“Yes all three of those homes you liked are now under contract.”) The buyer’s market is over and frankly anybody complaining about the inability to sell their home is either overpriced or has something wrong with their property. It’s that simple.
If you’re about to enter the Tampa Bay real estate market as either a buyer or seller you need a full time realtor who understands the intricacies of this data as you move forward. If you are interested in buying or selling real estate , I would love the opportunity to work with you. Please call me 813-924-4468 or email me: Jason@jasonbealsells.com
Late night found us driving back from Clearwater in search of food. Bella’s in South Tampa immediately came to mind as I knew they were open late. They also have a late night happy hour which is quite good. Parking was readily available, and we were seated right away. The bread our server brought was very hot, and the butter spread easily. We started with a beef Carpaccio, razor thin cut beef with toast points which was a hit. We then moved on to a cup of lobster bisque which was perfect for the two of us and had a great flavor profile. This was all ordered prior to the happy hour which began a midnight. Once midnight passed, (yes, I admit we were stalling a bit to wait for the discounted prices,) we ordered a pizza. The happy hour menu also offers half price pizza or calzones. We opted for a pizza with sausage, pepperoni, mushrooms, onions, and ricotta. It was very good, and we even contemplated ordering another one to go to have for lunch the next day, but restrained ourselves. Dinner was finished with the Vesuvius cake, which resembles a lava cake type dessert. I will never complaint about chocolate!
Bellas is located in South Tampa on Howard Avenue, just a few blocks from Bayshore Boulevard. It has been there for years, is a staple of the community and definitely worth a visit.
Mortgage rates have hit lows not seen in 60 years, and may even dip lower in the short term says industry insiders. As of last Thursday the rate for a 30 year loan dipped to 3.49 percent. Likewise the 15 year mortgage, which I always recommend (buy less house than you need and pay it off quickly), is down to 2.8%, down from 2.83% the week prior.
Cheap money and affordable housing is certainly fueling our real estate recovery in the Tampa (and surrounding areas: Pinellas, Pasco and Hernando real estate) area right now. Inventory is down, activity is up and prices are stabilizing. Subsequently home builders have pulling more permits and putting up more homes than they have in the previous four years.
These low rates are also enticing to home owners looking to refinance and can ultimately help our slowly recovering local economy. Lower rates help spur growth via refinancing because home owners now have extra money to spend on consumer goods, which helps our economy move along.
Mortgage rates continue to decline mostly because they track the ten year Treasury note. An anemic U.S. economy paired with Europe’s woes means investors seeks a safe haven in Treasury securities, thus pushing the yield down. Will this isn’t necessarily exciting for our economy as a whole; it does help push the market along as we shed off excess inventory here in Tampa and beyond.
When listing or buying a property it is essential to have a Realtor who knows the community, understands the Tampa real estate market and can price a home correctly. If you are interested in buying or selling real estate , I would love the opportunity to work with you. Please call me 813-924-4468 or email me: Jason@jasonbealsells.com