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 a few zip codes in Pasco County. As we discussed last week median means “in the middle.” So if you missed last week’s Market Monday here’s a quick overview. As an 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 middle price — $300,000.
On the other hand, Average Selling Price would be the sum of the selling prices of the 5 homes divided by 5, or $330,000. Most real estate statisticians think median price is a more helpful way to look at home prices in an area or zip code. It is not skewed as much when homes in the area sell at an extremely high or low price, like the $800,000 home in our example.
Now let’s take a look at the price trends in some of Pasco County’s most popular areas.
Wesley Chapel (33544)
Wesley Chapel (33543)
Wesley Chapel (33545)
Zephyrhills (33540)
Zephyrhills (33541)
Zephyrhills (33542)
(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.)
Next week, we will Tampa’s Real Estate Stats for March so be sure to check back on Monday.
Now let’s review the most helpful and useful real estate articles, infographics and videos we found last week. Enjoy!!
From the Blog:
More & More Singles Are Falling For Their Dream Home
Real Estate: 2016 Will Be the Best Year in a Decade
“Despite the challenges facing the housing market, we expect this to be the best year for housing in a decade. Home sales, housing starts, and house prices will reach their highest level since 2006 according to our latest forecast…Challenges remain, with low housing supply and declining affordability being a key concern in many markets, but on balance, the housing markets in the U.S. are poised for the best year since 2006.”
Tampa Lifestyle:
New Pasco development will feature man-made lagoon
Originally developed in Chile, Crystal Lagoons have been built in 60 countries ranging from Australia to Egypt — the largest is 30 acres. Metro President Greg Singleton said he wanted to offer a unique amenity that would differentiate his communities from other real estate projects. Park Place is the first of four such projects that will be featured in the Tampa market.
“When you see them in person, it’s breathtaking,” he said. “What’s important is that the community is going to be affordable. The homes will be priced in the mid-$200,000s.”
The lagoon would hold up to 18 million gallons of water. Singleton said the preliminary design calls for a water obstacle feature, a swim-up bar, volleyball courts, a waterslide tower and a boat launch. “You can kayak or paddleboard,” Singleton said. “You could even use a small sailboat.”
Harrison Ford Explains Why He’s Moving to Tampa, Florida
“I’m just tired of the L.A. lifestyle and the fake people, honestly, and I feel like, at this point in my life, I’d rather just live in a place full of real, genuine people. I’ve been to Tampa a few times over the years and the people there are real… they’re genuine, and yeah every community has its problems but the people there are good, decent people and they care about their community. Those are the things I find most important in deciding where to live,” Ford told the magazine.
Advice for Buyers:
American Dream: The Changing Interests of Homebuyers Throughout the Decades
Those immersed in housing trends likely know what makes today’s buyers tick: updated kitchens and bathrooms, ample closet space, low-maintenance features, in-home technology. But what excited potential homebuyers a decade ago is vastly different from what interests today’s generation of homeowners. This interactive infographic from Fielding Homes dishes out top design and technology trends. Here are a few top takeaways:
How to Spot the Top Problems Home Sellers Try to Hide
“All homeowners sign a disclosure document about their property so buyers know what they’re getting into; however, it can be very tempting for some to tell white lies or conveniently forget facts,” says Wendy Flynn, owner of Wendy Flynn Realty in College Station, TX. “In fact, a very large number of real estate lawsuits stem from owners misrepresenting their property.”
Advice for Sellers
Savvy home sellers turn to smart technology
“A few hundred dollars will have an impact,” Schoenberg said. “The price of technology on these gadgets has come so far down.” She cited competition among the makers of smart door locks and other technologies. She also said buyers today will ask if the Wi-Fi is staying, just as they would have asked in the past about a chandelier or refrigerator.
Home Loans
Mortgage rates plummet to lows not seen in more than a year
“Mortgage rates this week registered the delayed impact of last week’s sharp drop in Treasury yields as the 30-year mortgage rate fell 12 basis points to 3.59 percent,” Sean Becketti, Freddie Mac chief economist, said in a statement.
“This rate marks a new low for 2016 and matches last year’s low in February 2015. Low mortgage rates and a positive employment outlook should support a strong housing market in the second quarter of 2016.”
Mortgage Rates Hit New Low for 2016
Freddie Mac reports the following national averages with mortgage rates for the week ending April 7:
- 30-year fixed-rate mortgages: averaged 3.59 percent, with an average 0.5 point, dropping from last week’s 3.71 percent average. Last year at this time, 30-year rates averaged 3.66 percent.
- 15-year fixed-rate mortgages: averaged 2.88 percent, with an average 0.4 point, falling from last week’s 2.98 percent average. A year ago, 15-year rates averaged 2.93 percent.
- 5-year hybrid adjustable-rate mortgages: averaged 2.82 percent, with an average 0.5 point, dropping from last week’s 2.90 percent average. A year ago, 5-year ARMs averaged 2.83 percent.
Source: Freddie Mac
Have a Fantastic week!
–Annette Bohannon, Team Bohannon, Keller Williams, 813-431-2840 www.teambohannon.com
