Hillsborough County February Home Sales by Zip Code – #Tampa Market Monday – 4-4-16

    Tampa-Market-Monday-Header

    Provided By Annette Bohannon, Team Bohannon Real Estate Consultants, Keller Williams Tampa Properties

    Happy Monday from Annette Bohannon!

    Today, we’re going to look at the Median Sold Values of homes in Hillsborough County by zip code. Now keep in mind, median means “in the middle,” meaning that half of the homes sold above the price listed and half sold below the price. For example, if 5 homes sold in a zip code for $200,000, $250,000, $300,000, $400,000 and $800,000, the Median Price would be the one in the middle. In this case, that would be the $300,000 home.

    In contrast, average selling price would just be the sum of the selling prices of the 5 homes divided by 5, or $330,000.  Many real estate statisticians prefer median price as a better indicator of the “typical” price within an area or zip code. Why? It is not affected by “outliers” or homes sold at an extremely high or low price, like the $800,000 home in our example.

    The key point is you can get the best idea of the value of a home by looking at median sold values and other homes that are closest to it and most like it. These are called “comparables” and it is what appraisers analyze when they set the value of a home.

    Hillsborough County (Tampa, Florida) – Median Sold Value

    Hillsborough County Florida Median Sales Price Feb 2016Hillsborough County Florida Home Sales Zip Code Feb 2016Hillsborough-Tampa-Florida-Home-Sales-feb-2016

    (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.)

    Also, don’t forget to check out the articles and infographics below. We’ve tried to  bring you the most helpful ones we’ve run across this week. You’ll find advice for buyers and sellers, a breakdown of mortgage rates, and an overview of some fun and exciting things that should make Tampa an even better place to live! Enjoy!!

    From the Blog:

    Sales Contracts Hit Highest Level in Months

    Lawrence Yun, NAR’s Chief Economist explained:

    “After some volatility this winter, the latest data is encouraging in that a decent number of buyers signed contracts last month, lured by mortgage rates dipping to their lowest levels in nearly a year and a modest, seasonal uptick in inventory.”

    “Looking ahead, the key for sustained momentum and more sales than last spring is a continuous stream of new listings quickly replacing what’s being scooped up by a growing pool of buyers. Without adequate supply, sales will likely plateau.”

    Read more. 

    Don't Be Fooled... Homeownership Is A Great Investment! [INFOGRAPHIC] | Simplifying The Market

    Some Highlights:

    • Harvard University’s Joint Center of Housing Studies recently released the top financial & emotional reasons to own a home.
    • Owning is a good way to build up wealth that can be passed along to your family as it is usually a form of “forced savings.”
    • You’re paying for a house whether you own or rent, but owning gives you control over your living space.

    Tampa Lifestyle:

    Straz Center unveils $100 million waterfront master plan (Renderings)

    Straz Center - Tampa

    The redevelopment is slated to cost $65 million to $100 million, funded through public and private sources. View the renderings for a virtual tour.The conceptual plan includes the following:

    • The creation of a Grand Terrace that “flows” to the riverfront
    • Expansion of the Patel Conservatory
    • Reinventing and enlarging the Silbiger Lobby in Morsani Hall
    • Adding a multipurpose events center to accommodate growth in food and beverage

    “We wanted something fresh and new exciting to represent Tampa,” Lisi said while presenting the new renderings on Tuesday morning.

    Read the Article

    Raymond James Stadium Renovation Updates

    The proposed first stage of the renovations are under way and scheduled to be completed for the Buccaneers’ 2016 season. The centerpiece of the first phase of projects will be the installation of new, state-of-the-art HD video boards in each end zone, four HD tower video displays in each corner of the lower bowl and HD ribbon boards in the center ring of the suite level.

    The proposed new end zone boards will be expanded and measure 9,600 square feet each, while each tower display will measure 2,304 square feet for a total video display area of 28,416 square feet—the third-largest in the NFL.

    Learn More.

    Advice for Buyers:

    Former Renters: 38 Percent of Homebuyers in February 2016

    Screen Shot 2016-04-04 at 10.27.53 AM

    Read the article. 

    5 rookie mistakes by first-time homebuyers — and how to avoid them

    We spoke with loan officers, real estate agents and other home-buying experts to give you a rundown of some of the biggies and tips that might help you avoid headaches and heartache before you sign the dotted line.

    Read More.

     

    Search Tampa Homes for Sale

    Advice for Sellers

    Why home sellers should pay their buyer’s closing costs

    Home sellers often ask me, “Why should I pay for the buyer’s closings costs?” I most often hear this from members of the older generations, people who had to save up large down payments before they bought their first home. “If a person can’t pay their own closing costs then they have no business buying a home,” one gentleman recently told me.

    Why do you want to pay for the buyer’s closing costs? Because paying your home buyer’s closing costs could mean selling your home faster and putting more money in your pocket. That’s all.

    Read More.

    Today’s Home Sellers Have All The Negotiation Leverage

    At the current pace of sales, the entire stock of homes for sale would be “sold out” by mid-July.

    In February, Median Days on Market for an MLS-listed home was 59 days. This is the fewest number of days for January since the National Association of REALTORS® been tracking such data.

    • February 2012: 97 days
    • February 2013: 74 days
    • February 2014: 62 days
    • February 2015: 62 days
    • February 2016: 59 days

    It should also be noted that in each of these years, February was the start of a months-long slide in Median Days on Market. Should that trend hold through 2016, buyers should expect homes to sell in fewer days in the months ahead.

    35% of homes sold in 30 days or less in February.

    Read More.

     

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    Screen Shot 2016-03-07 at 10.04.00 AM

    Home Loans

    Mortgage Rates Hold Steady This Week

    Freddie Mac reported the following national averages with mortgage rates for the week ending March 31:

    • 30-year fixed-rate mortgages: averaged 3.71 percent, with an average 0.5 point, the same as last week’s average. Last year at this time, 30-year rates averaged 3.70 percent.
    • 15-year fixed-rate mortgages: averaged 2.98 percent, with an average 0.4 point, rising from last week’s 2.96 percent average. A year ago, 15-year rates averaged 2.98 percent.
    • 5-year hybrid adjustable-rate mortgages: averaged 2.90 percent, with an average 0.5 point, rising from last week’s 2.89 percent average. A year ago, 5-year ARMs averaged 2.92 percent.

    Source: Freddie Mac

    Read More.

    Thanks for taking time to read #Tampa Market Monday from Annette Bohannon. Let us know if we can help you in any way.  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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    About our blog

    Ranked #1 Realtor in Tampa by U.S. News and World Report.

    Doug, Annette & Dale Bohannon

    Team Bohannon Real Estate Experts

    Keller Williams Tampa Properties
    Tampa, Florida

    (813) 979-4963

    If you're looking for a trusted partner who exceeds expectations, reduces stress, fulfills promises, and is on top of all the details, consider Tampa's Top Real Estate Team: Doug, Annette and Dale Bohannon when buying or selling your home, call us today at 813-979-4963

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