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Tampa Real Estate Blog

Where's The Beef?

June 2nd, 2008 5:51 PM

Tampa, FL - If you're expecting to read something about an old Wendy's commercial, I apologize! (For those too young to remember the square burger joint's classic TV commercial, which immortalized the words "Where's The Beef?," I apologize again for the 'ancient' reference.) This is, however, a brief story/review of some Tampa area restaurants.

The first restaurant I'd like to mention is Bern's Steakhouse. This legendary steakhouse has been a Tampa delight for many, many years. I won't pretend to be a real food critic but I did dine at the place this past Friday night - 5/30/08. The atmosphere hasn't changed. It still reminds one of a French whorehouse. No problem there... It's a fun place. The food was predictably wonderful, from the onion soup and perfect salad included with every entree, to the meat (or in my case the Fresh Wild Washington Salmon) in the center of the plate. But make sure to order these things with sauces. We forgot and Bern's chefs don't season the meats or fishes at all. Not even with salt! But they do offer wonderful sauces on the side. And, the wait staff is terrific - professional, knowledgeable, and polite.

Since Bern died (the founder) his son has taken over. Most of the restaurant hasn't changed much. There are 2 things, however, that have changed. Prices have risen. No surprise there. And, more problematic for me and most of those in our party, they now force you to use their Valet Parking attendants to park your car. I don't like valet parking, especially when there is plenty of parking to go around. Bern's has a huge lot with a new multi-level garage. But what makes this new policy particularly egregious is that Bern's is now charging $5 per car for this service, and there is a clear sign reminding patrons that this does NOT include a tip for the guys who park the cars. This, unfortunately, is enough of a problem that I will not return to Bern's (unless they change this 'gun-to-the-head policy). I am happy to pay the high prices for their food. I do not wish to pay to have someone park my car when I am perfectly capable of parking it myself.

So, are there other steakhouses in Tampa? Certainly. Ruth's Chris Steakhouse, Shula's, and The Palm are three good ones all within about 5 miles of Bern's. My suggestion is try one of these. For those looking for something other than steak, Tampa has grown up since my early days here in 1979, when TGI Fridays was one of only a few restaurants in town. We now have plenty of great and fun places, from Thai and Italian, to Continental, French, and even, finally, Chinese food.

Posted by Bruce Bernstein on June 2nd, 2008 5:51 PMPost a Comment (0)

Biggest Complaints About Realtors

June 30th, 2008 11:56 AM

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.

Posted by Bruce Bernstein on June 30th, 2008 11:56 AMPost a Comment (0)

Dumbo Jumbo - Good Jumbo Loan Rates Do Exist

June 23rd, 2008 1:48 PM

Tampa, FL - The following comes as no surprise to those shopping for higher end homes - For quite some time now, Jumbo Loan Mortgage Rates are, and have been, disproportionately high when compared to conventional financing rates. For REALTORS with listings in the Jumbo Loan category, such as myself, this has put a real damper on showing activity.

It has been equally burdensome for buyers of homes in this category. They see many great, higher end homes for sale today, some at amazingly low prices (relatively speaking) but aren't 'pulling the trigger'. Smartly, they are waiting for rated to drop, even those who can afford the higher payments. Who can blame them? The additional interest these loans require easily top $10,000 annually. And for what? Bank profits. (I'm not bashing banks, here, just pointing out that interest is a 'throwaway expense' that should be avoided if possible.)

However, there is hope. I recently uncovered several very strong mortgage programs for Jumbo Loan candidates. One is through an investment house (it is extremely legitimate - no bond issues here) and offers rates around 6% (as of this writing), up to 100% financing, interest only for 5 years, and no mortgage insurance. That's strong! However, only those who qualify can play in this sandbox, but qualifying isn't that difficult. One just needs to have an investment account with this firm with a minimum asset base and a decent credit rating. Let's get the word out there that there are solutions for Jumbo buyers so we can get that market going again.

I am not a mortgage broker, lender, or purveyor of any kind. I'm just trying to do my part to rekindle this recently neglected part of the real estate market, especially in Florida. So, for more info on this great mortgage program, please contact me and I'll give you the company's name. I can be reached through my web site: www.PrettyDogRealty.com.

Posted by Bruce Bernstein on June 23rd, 2008 1:48 PMPost a Comment (0)

South Tampa Market Update

June 11th, 2008 1:00 PM

Tampa, FL - Here in south Tampa, which is typically defined as the area south of Kennedy Blvd., real estate sales activity has picked for homes priced below $400,000 - the non-jumbo loan priced homes. In fact, those in good or better condition are moving at a rate that could signal the end of dropping prices in this area. However, we haven't seen real improvement in homes in the higher price categories, and things remain very slow for homes over $1,000,000.

The reason for the higher end home problems, we believe, is the disproportionately high jumbo loan interest rates, which continue to be a major drag on the upper end of the market. While this is bad news, the obvious 'silver lining' is very real - there are some excellent deals on gorgeous, higher end homes. And, we recently discovered an excellent financing program with a major lender. It only applies for those with investment accounts, but those who qualify can get an amazing 30 year loan, including: 100% financing, no mortgage insurance, 5 years interest only, and very low interest rates... usually as good as conventional financing. Actually these loans can be used to purchase properties as low as $100,000, and on up to the millions, even for second homes and investment properties. For more information, please contact us by phone or email. (You can find this info at: www.PrettyDogRealty.com)

The rest of Hillsborough County, especially in the areas north and east of Tampa, are not faring as well. Foreclosures and Short Sales continue to dominate these markets, as they are in Pasco County. As a result, great deals abound in these areas, even for some beautiful and large homes. If you are looking in these areas today, you will get lots of home for your money and you still can take advantage of the property tax benefits created by Amendment 1. But that nice tax break probably won't last much longer as it is currently being challenged in 3 different cases, and is very likely to be overturned. However, those how took advantage, will not be penalized... They will likely be able to keep their benefits, even after the law is overturned by the courts.

Posted by Bruce Bernstein on June 11th, 2008 1:00 PMPost a Comment (0)