Tampa Real Estate Blog

Tampa, FL - Another Tropical Storm/Hurricane (Fay) has missed the Tampa Bay area.  This is not a surprise for those of us who have lived in Tampa for many years.  I have been here, on and off, since 1979.  During that time, several hurricanes have formed and could have headed directly for us.  However, to this date none have (knock-on-wood, as my grandmother used to say) directly hit us with severe hurrican force winds.

I suspect that there are those who may have wanted to move to, or purchase second homes in Florida but decided not to because of the hurricane threat.  While it is possible that major storms can hit Tampa, it has been a very long time since one actually has.

Now, I understand that a statistician might evaluate this information and say that we are 'due' for one to hit.  However, another argument is that some unknown or unseen force of nature (upper winds and area weather patterns?) prevents storms from moving through the Tampa Bay area.

The point here is: while hurricanes are very real and they do occasionally hit Florida... Tampa seems to be far less vulnerable than other areas of the state.  So, for those thinking of moving to, or buying in Florida... Come On Down (to quote a very old orange juice commercial)!  But forget about Miami, Jacksonville, or especially the Panhandle area... Set your sights on Tampa.

Tampa, FL - For those who are planning/investing for the future, there is a real buying opportunity shaping up in Tampa, Florida.  Property values have plunged, in some areas, to 2002 levels.  Although this may be difficult to believe at this time, things will turn around.  When they do, according to many real estate economists, including Lawrence Yun, chief economist for NAR, they are very likely to rise quickly.  The theory being, the faster they fall, the more quickly they will rise once the market has reversed itself.

Regardless, make no mistake, those who invest today will reap large benefits sometime in the future.  Tampa real estate was hot once and it will be again... The only question is when?  As such, we recommend a long term investment strategy and have developed an interesting plan to take advantage of this opportunity.  Investors with cash to spend can purchase good properties, bail out the current owners, and have an instant, grateful tenant paying you rent.  To learn more, please visit: www.PrettyDogRealty.com/invest.

Tampa, FL – Even though REALTORS® (myself included) continue the task of being upbeat about real estate and the markets, the news seems to be going from bad to worse, with no end in sight.  Now, adding to the mix, major bank failures have dampened any enthusiasm that might have been building.

Given all the current negative real estate news, many might be surprised to learn that some markets, even in Florida, have begun to turn around.  Ft. Myers is one example where declining prices have brought many buyers back to the market, and has recently seen real and substantial year-over-year sales growth.  I used the word 'real' because, lately, in Tampa, much 'misleading' information has been disseminated by an association which should know better, through willing media outlets content to take the word of a misguided organization, without actually checking the facts.  However, that's another story.

Like Ft. Myers, Tampa's market has suffered serious price declines - in some areas they may be just as dramatic.  Yet, Tampa has not seen the buying activity needed to exceed 2007's meager sales figures.  This is puzzling.  Tampa does have much to offer... Good restaurants, 3 professional sports teams on the rise (Tampa Bay Rays, Tampa Bay Lightning, Tampa Bay Bucanneers), lots of night life, some amazing sunsets, and lots of water for boating, sailing, swimming, and more.  It's a good lifestyle.

So, if you're looking for a buyer's market that is ready to explode, consider Tampa, Florida.  You can get a lot of house for a very low price (compared to 2 years ago) and live a comfortable lifestyle.  For more information, please visit www.PrettydogRealty.com.

Tampa, FL - Although I've lived in Tampa for approximately 20 years of my life, until recently, I'd never been sailing in the Bay.  I'd been on a power boat before and traveled around St. Pete, under the Sunshine Skyway, and over to a small island, but had never launched from Tampa.  I now live on Davis Islands with my wife and stepson and our home is literally within walking distance to the Davis Islands Yacht Club (DIYC). 

My father-in-law has enjoyed sailing for many years, focusing primarily on racing.  Each year, he participates in a race from the St. Pete Yacht Club, to Mexico - the Regata del Sol al Sol - which he and his crew won in 2007.  This year, prior to the race, he decided to spend about a week at the Davis Islands Yacht Club to relax and prepare his boat for the upcoming contest.

When it was time to move the boat (and himself) to St. Pete, he invited my stepson (his grandson) and me to ride along.  Boy... What a pleasure it was to make the 2 minute drive to the Davis Islands Yacht Club, meet him at his boat, and be pushed away from the dock some 5 minutes later.  No hassles.  No wasted time parking.  Just the quick and quiet serenity of the water lapping against the sides of the boat.  If you're a boater, Davis Islands truly is a great location To learn more, please feel free to send me an email.

During his stay at the DIYC, my father-in-law mentioned the wonderful learn-to-sail program the club offers to children and teens.  I don't know anything about the cost, but the program sounded impressive, offering children an amazing opportunity to learn and enjoy sailing.  If you live in the South Tampa Area, I encourage you to look into this program.  It is available to all children - membership in the yacht club is NOT required - and is a great opportunity to expose your kids to one of life's real pleasures.

As always, we encourage your participation. Please feel free to add your thoughts.

Tampa, FL - Lately, I've heard several complaints about Realtors from both buyers and sellers. The one I have heard the most is: "I did all the work and the Realtor got the commission!"  This comment was made recently by someone who purchased a South Tampa home about 2 years ago and by a seller who was more specific.  She mentioned that she took all the pictures, she showed the property, and it was she who made pricing and other determinations about the property - and this happened 3 times with 3 different agents.

Given these sorts of reports, it's no wonder why 5 to 10 percent of agents always seem to do 80 to 90 percent of the business in any given area of the country.

To all brokers and agents who fall into the category that those above complained about, please take a long hard look at the way you conduct business.  If you cannot see your way to make some changes, I am sure that I'm not alone in asking you to please find another career.

And, to all buyers and sellers out there... Please know that good agents and brokers do exist.  However, you must NOT simply use someone because your neighbor said "I know someone - they're my friend and they'll take care of you."  You must ask questions.  You must be satisfied with the answers.

Anyone can put a listing in the MLS, put up a sign, and wait.  There are many of those sorts of Realtors here in South Tampa and may folks might be surprised to learn that they are some of the more successful agents working in the area.  They've just been here for a long time and know many people.  But that does not assure that they know how to market... How to sell... How to properly do the job.  To be fair, there also are many very good, qualified, and talented agents and brokers working here in South Tampa. 

Unfortunately, the buyer or seller must so some legwork and research to discern between the good and the bad.  There is no other way.  If you don't take the time to investigate... to ask questions... to look at web sites... don't be surprised if the level of service you get isn't what you would want or expect.  There is an 80 or 90 percent chance that this will be the case.  Please visit www.PrettyDogRealty.com for more information about the services we provide.

Tampa, FL - Home sellers... think hard before lowering your price!  Today's real estate market is fraught with uncertainty on many levels.  One of them is pricing strategy.  I suggest you do some homework before lowering the asking price of your home, (this does not apply to short sales and foreclosures).

How does your home stack up relative to other homes that are competing for similar buyers?  Is it larger?  Smaller?  Does it have nicer finishes (i.e. Granite or Marble vs. Formica)?  Has it recently been renovated?  All these things count for buyers, and any one might make a buyer willing to pay more if your home compares favorably.  For more on value, please see: http://www.prettydogrealty.com/Value.

Another area to research is the amount of traffic competing homes are getting.  If they are priced similarly, or lower, but they also are NOT getting much traffic, then price may NOT the problem - unless all these homes are overpriced, which is not likely.  It could just be the current market conditions - NO BUYERS, period - which certainly will change over time.  So, the next thing to consider is time... Do you have some?  Or do you need to sell quickly.  If you need to sell, price may loom larger in your decision making process.  But if you are not being forced to sell, and the quality (value) of your home compares favorably to competing homes in the area, and if others are not getting any more traffic than you are, it may be a good idea to hold your price until one of these factors changes, which could indicate its time to reassess.  It's a dynamic marketplace and there's no telling when things will change!

Tampa, FL - There are many good Realtors all over the country - people who take their real estate jobs seriously and who dedicate themselves to their clients and their business.  It's their livelihood and they treat it accordingly.  These folks return phone calls promptly, offer accurate directions to their listed properties, have adequate (at least) pictures of their listings, and do the real work required to be successful, whether they are working with a seller or a buyer.

There also are many bad Realtors out there.  These folks seem to make money in spite of themselves.  They make a living off the good natured, yet naive friends/clients who don't realize that their trusted agent is not very good at their job (I was being kind).  There are those who have many listings, but do the absolute minimum - only posting it in the MLS and an occaisional open house - to sell a property.  Others fail to return phone calls promptly (some of these might also be the ones doing the absolute minimum to sell a property).  And some have email addresses, but never respond to emails, even those that ask questions about a property they have listed.  A few don't answer their phone's, and don't return phone calls.  One such agent here in South Tampa has been guilty of all of the above, and this person has been, and still is very successful!

All these shortcomings do make a difference.  Potential buyers will walk away from properties represented by non-responsive Realtors, which extends the time to sale.  I know as I have clients who've done just that.  A client deserves better - even if they don't realize that better exists!

So, let the 'client' beware, be they sellers or buyers... Choose your Realtor carefully, and that means asking relevant, difficult questions.  An agent isn't necessarily good just because they have been in the business for many years, or have many listings, or are a good friend.  That has been proven many times over.  They just know many people who are too lazy or trusting to take a little time to learn the truth about their 'good friend.'  A good agent will work just as hard for you after the papers have been signed.

I welcome your opinions.  Please feel free to add your comments!

Tampa, FL - I remember well the temptation to purchase a brand new car upon landing that first job after graduating from college, all too many years ago. I resisted the urge. Today, I look around and see recent grads in the same situation as I, but many succumb to this itch that seemingly needs immediate scratching, often buying a very expensive car that then necessitates a less than desirable living situation... Roommates. You may think that roommates are cool, but in reality, once college has come and gone, they often get old very quickly.

While the immediate gratification of a nice, expensive car may feel good, the euphoria usually fades rapidly and then reality sets in - you are now tied to a car, with its credit/payment ramifications, that limits your ability to accumulate the real wealth that enables early retirement and a better life. A car is... well... a car. It's good a getting from point A to point B. But, as one gets older, even as early as the 30's, it becomes very apparent that retirement is the key to real happiness. Retirement is real freedom. And, freedom equals happiness, which is why so many people move to the USA. Start working toward that today - there's plenty of time for nice cars tomorrow!

Everyone can achieve real freedom, but it comes with a cost... rather than spending tons of money on a depreciating asset - a car, especially an expensive one - one might be far better off by resisting the urge to impress the world at large with things, and focus on accumulating real wealth. One should consider buying real estate - a home - as soon as possible, which today could be as early as the day you land a job. This is how to accumulate real wealth at an early age, and how one can retire young and enjoy life to its fullest for a very long time, rather than just in the so called 'golden years.'

No one gave this advice to me when I was a recent grad, and I'm still working today. It is easy to look back and see how much money I could have accumulated had I just been a little more thoughtful about the choices I had made and the way I had lived my life. Had I simply purchased my first home when I was just 22, I'd have retired long ago.

So, I ask all recent college graduates to take advantage of the great first-time home buyer loan programs available today and get in the game! Resist the urge to purchase a Mercedes when a Honda, or even a Hyundai (e-gads...) will work just as well - even better if you ask some who have had nothing but trouble with their Mercedes. A couple of smart decisions today could give you plenty of time to buy an even nicer car a few short years from now, and you'll also be well on your way to retiring at a young age.

We appreciate your thoughts!  Please feel free to add your comments!

Tampa, FL - You never know what wondrous fun might await behind closed doors! Nothing kinky here... We're talking real estate. Some homes, even the really nice ones, have facades that don't prepare one for what's inside.

Of course, there are the real 'disaster' homes, those with outsides that look far better than their interiors. Very disappointing! The other variety, though, those that WOW! when you go inside, are the real fun ones to see, especially the higher end homes. In most cases, there's nothing wrong with the outside of these homes, it's just that the outside is overshadowed by a spectacular inside.

For instance... The home in the photo to the right, one of my listings, looks fine from the outside - nice, clean, large. However, when the hand carved, Mahogany front doors swing open (a subtle hint that there might be something special coming), one is treated to a delightful surprise that pictures cannot adequately convey. The real difference between a true luxury home and a nice home are the small details and when those come together in a non-obtrusive way, the results can be truly spectacular. But when you're on the outside looking in, you'd never know, unless you noticed something 'off' about the price.

Price can be a revealing 'tell'. If a home seems overpriced for its size, (Please note: many times it will be just that - overpriced), it may be wise to research further, and to get inside to take a look. You might find a hidden gem, with features, accents, finishes, and quality materials that are so superior (the picture to the left is the beautiful and huge kitchen/breakfast room found in the home shown above - please visit: www.560Severn.com to see the rest of this home) to what you had expected, you may be willing to pay much more for the home than you'd originally thought. Those are the really fun homes to see.

When searching for a home to buy, you never know what you might find, so keep an open mind as you look, and evaluate what you actually see, rather than what you had expected to see.

We value your opinions and comments.  Please feel free to contribute.

Tampa, FL - When I was in my 20's, I never gave home ownership a thought.  It was not really an option as mortgage money was tight and interest rates were very high.  Things are different today.  And, there are so many special First Time Home Buyer loan and assistance programs available that almost anyone can, and should own a home.  Even in the current environment, with all the negative things happening in the real estate market, home ownership is still the best way to accumulate wealth, and the earlier one begins, the earlier they will be able to retire - if that is their goal.  And, because of the glut of homes available, there has never been a better time to buy - great deals on wonderful homes abound!

Some of the First Time Home Buyer loan programs have very favorable terms, including those that ignore credit scores and time on the job.  In fact, one program states that recent college graduates, with just two months of employment, can qualify for an interest only loan of up to $417,000, with lower than market interest rates, and require only a $500 down payment - and credit score is not a factor.

If I had programs such as these available to me, and knew about them, I certainly would have taken advantage, and would have been living my retirement dream today.  And that's exactly what everyone who is renting a home or apartment should be doing for themselves.  It's just plain smart.  For more information, please give us a call - 813-944-3115.