Greater Tampa Home Sales July 2016 – #Tampa Market Monday – August 15, 2016

    Happy Monday!

    Greater Tampa (view a map of the communities) home sales rose in July compared to July a year ago, but declined from June of 2016. The median sold price stood at $205,000 — a 13.9% increase compared to July 2015 and a 6.6% drop from June 2016.  Greater Tampa had 3,039 homes sell in July — a 1.9% increase from June 2015 and a 6.2% decline from June 2016.

    The median number of days a home stayed on the market increased 6.3% — from 32 in June to 34 in July. Greater Tampa houses still sold 10.5% faster than a year ago. Months of supply which measures how many months of housing inventory remain, ticked down slightly from 2.85 to 2.83 months. Housing inventory is down 8% from last July. So the market continues to favor sellers, as drops in supply mean fewer homes on the market and more competition between buyers.

    tampa-home-sales-july-2016

     

    Here’s a detailed look at the stats:

     

    What It Means

    NOW is still a GOOD time to SELL, but the faster you list your property the better position you’ll be in. Home sales and prices are STILL trending up from a year ago, and interest rates are STILL historically low, but as the year wears on that could change.

    If you’re ready to sell, contact us and let us focus our expertise, experience and award-winning client services on helping you sell your home quickly and for top dollar. If you’re a buyer, please call us.  Our skilled and experienced BUYERS agents will position you to move fast and negotiate smartly in a very competitive SELLERS market.

    (Want a customized evaluation of your home and neighborhood, based on comparable homes that have sold recently? Call Annette Bohannon at 813-431-2840 and get a FREE detailed, market evaluation of your home or you can get a Free Market Report by following this link.)

    Now here’s a quick overview of some of the best and most informative blog posts, articles and infographics we’ve run across this week. Enjoy!

    Tampa:

    BlueGrace Logistics plans to hire up to 700 in Tampa Bay, tapping $255M equity infusion

    Riverview-based BlueGrace, a 6-year-old transportation logistics company, is using the money to hire 500 to 700 employees in the next few years and will be on the hunt for a new, larger headquarters, possibly in downtown Tampa.

    From currently $200 million in revenue, “by 2020 we’d hope to be at $1 billion … with a mix of organic growth and some (acquisitions),” BlueGrace CEO and founder Bobby Harris said in an interview Monday with the Tampa Bay Times.

    Read More

    Tampa Bay ferry project is a go — but for how long?

    The Pinellas County Commission on Tuesday was the last local government to approve the proposed ferry that will connect downtown St. Petersburg to downtown Tampa.

    But now that Tampa Bay’s four biggest governments have agreed to help fund the six-month ferry program, elected leaders say it’s unlikely that they’ll divert tax dollars to extend the service beyond that time period.

    The number of passengers during the 90-minute round trip will determine whether the region can sustain a permanent ferry system between the two cities. The service could start on Nov. 1 with two runs a day — three on Friday — for fares that are expected to be $10 each way.

    Read More

    From the Blog:

    Real Estate Values Today Compared to Pre-2008 Peak | Simplifying The Market

    Read More

    Home Sales Up in Every Price Range over $100K!

    Homes Sales Up in Every Price Range over $100K! | Simplifying The Market

    Read More

     

    Advice for Buyers:

    Home Buyer Confidence on the Rise

    Home purchase sentiment reached an all-time survey high in July, an indication that Americans are feeling more upbeat about the housing market, according to Fannie Mae.

    Overall sentiment rose 3.3 points to a reading of 86.5. Each of the index’s six components– including selling outlook and personal finances – also rose last month.

    The share of consumers who said they would buy if they were going to move climbed to 67 percent, while the share of consumers who said they would rent dropped to 26 percent, an all-time survey low.

    Forty-one percent of consumers expect home prices to rise over the next 12 months, an increase of 8 percentage points from June. Household income rebounded in July as well, rising 3 percentage points to 11 percent.

     Read More

    Home seller accepted a lower-priced offer than ours in a bidding war. What happened?  

    Dear Real Estate Adviser,

    I submitted our best and final offer on a house that got multiple bids and never heard back, so I just assumed we lost. Several weeks down the road, the house pops up “Sold” for a lower price than our offer. Can this be done here in California? Do you think this was a slip-up or did the agent just want it this way? How can I protect myself in future bidding wars? I’m confused and mad.
    — Mel C.

    Read the Answer

    Search Tampa Homes for Sale

    Advice for Sellers

    What today’s 55-plus buyers want in a home

    • A focus group and survey together gathered information on the preferences of baby boomer buyers.
    • The results showed that 55-plus homebuyers value amenities, community, flexibility, design — and locations that put them close to all the action.
    • Although tradition says that many boomers are looking to downsize, the largest percentage of those surveyed indicated their preference for a mid-sized house.

    Read More

     

    Screen Shot 2016-03-07 at 10.03.47 AM

    Screen Shot 2016-03-07 at 10.04.00 AM

    Home Loans

    Mortgage Rates Little Changed

    A surprisingly strong July jobs report showed 255,000 jobs added and 0.3 percent wage growth from last month, exceeding many experts’ expectations. In response, the 10-Year Treasury yield rose to its highest level since June and the 30-year fixed-rate mortgage increased 2 basis points to 3.45 percent.

    • 30-year fixed-rate mortgage (FRM) averaged 3.45 percent with an average 0.5 point for the week ending August 11, 2016, up from last week when it averaged 3.43 percent. A year ago at this time, the 30-year FRM averaged 3.94 percent.
    • 15-year FRM this week averaged 2.76 percent with an average 0.5 point, up from last week when it averaged 2.74 percent. A year ago at this time, the 15-year FRM averaged 3.17 percent.
    • 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.74 percent this week with an average 0.5 point, up from last week when it averaged 2.73 percent. A year ago, the 5-year ARM averaged 2.93 percent.

    PMMS Graph
    Click to enlarge

    Read More

    Thanks for reading Tampa Market Monday. We’d love to help you buy or sell your home so please get in touch! You can reach me, Doug Bohannon or Dale Bohannon at 813-979-4963 or by completing this contact form.

    Have a Fantastic week!

    Annette Bohannon, Team Bohannon, Keller Williams, 813-431-2840 www.teambohannon.com

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    Team Bohannon Real Estate Experts

    Keller Williams Tampa Properties
    Tampa, Florida

    (813) 979-4963

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