#Tampa Market Monday – February 22, 2016

Happy Monday! Hope you had a fantastic weekend.

Today, we’re going to overview how Pasco County, Florida real estate performed in January of this year. Closed sales ose, while active listings and inventory declined compared to the 5-year averages. You’ll also notice that compared to last January most numbers were up. The only figure that declined was the median days on the market, which means homes are selling faster.

In fact, months of supply fell to 3.06 for all home types, while Single Family Homes and Villas dropped below the 3 month mark. This means the market is currently in the seller’s favor. Six months or less of inventory indicates sellers have the upper hand, while seven or more months of inventory gives buyers an advantage. Sx to seven months of inventory is considered to be a balanced market.

After you review the statistics, make sure and read the articles we’ve provided below.

How Pasco County, FL Real Estate Performed in January of 2016

Advice for Buyers:

The Most Common Questions Asked by Home Buyers—Answered!

Buying a home is thrilling, scary, sometimes weird, often epic, and never dull. You’re ponying up a huge wad of cash for a place you’ll inhabit hopefully for years to come. As such, you’re bound to have a lot of questions throughout every step of the process. So to head you off at the pass, we asked real estate agents to spill the beans on most common questions buyers ask them—and the answers, of course. You’re welcome.

Read the entire article. 

Advice for Sellers

Top 10 home trends that buyers want in 2016

Highlights:

In any case, working with my buyer clients and talking to them about their new home requirements has solidified the fact that a healthy, sustainable and smart home environment is here to stay, and it’s becoming increasingly important to today’s consumers. They are some of the top items on theirhomebuying wish lists.

I know green living isn’t a new idea, but it is certainly gaining in popularity with not only homebuyers but also with homebuilders and tech companies.

Reports on new product innovation from the 2016 Kitchen & Bath Industry Show (KBIS), the Consumer Electronics Show (CES) and NAHB’s International Builder Show (IBS) were packed with the latest trends and products for healthy homes and new home technology.

Read the entire article.

The Most Common Questions Asked by Home Sellers—Answered!

Introduction:

Selling a home you’ve lived in and loved over the years isn’t exactly like unloading your collection of old Slayer LPs on Craigslist (or is it…?). It’s hard. It’s emotional. And above all else, it’s complicated. A slew of questions will likely pop into your head throughout the process—and possibly keep you up at night.

Read the entire article.

Home Loans

Freddie Mac Expands LTV Ratios for Super Conforming Mortgages

Highlights:

For mortgages secured by 1-unit investment properties the eligible LTV ratios will be aligned for purchase mortgages and no-cash-out refinances.  The company said these expanded ratios will provide borrowers with greater ability to refinance into improved rate and term mortgages without the need to establish additional equity.

A second change to the Guide affects master or blanket insurance policies on condominium projects and planned unit developments (PUD).  The revision will prohibit the sale of mortgages on such properties with an insurance policy that combines coverages for multiple unaffiliated projects or PUDs.  The change also alters terms of required insurance coverage for employee dishonesty.

Read the entire article.

Tampa Lifestyle

Here’s a list of the 103 stores opening at Tampa Premium Outlets

Simon Property Group has filled 103 stores in its new Tampa Premium Outlets scheduled to open Oct. 29 in Pasco County.

Sprinkled among nine individual buildings will be 21 shoe stores, 37 outlets for designer fashions and sportswear, 15 gift and speciality-item stores and nine places to grab something to eat or drink. The mall, designed with a Key West theme, also will have a half-dozen courtyard areas featuring nautical names like “pearl,” “coral” and “starfish.”

See the List

Clearwater Beach named No. 1 beach in the country by TripAdvisor

Honored for its 21/2 miles of “powdery sand and calm, shallow water,” Clearwater Beach is listed as a great vacation spot for its pedestrian-friendly Beach Walk Promenade and lively scene at Pier 60. According to TripAdvisor, Clearwater Beach “has it all” with a mix of beach scenes, water sports, restaurants and hotels.

Clearwater Beach also cracked the Top 25 beaches in the world list at No. 20. It’s the only beach from Florida to make that list.

Read the entire article.

As always thanks for taking time out of your busy schedule to read this. And remember if we can hlp you in any way with your real estate needs, please get in touch.  You can reach us at 813-979-4963 or by completing this contact form.

Have a Fantastic week!

-Team Bohannon