TWO HUNDRED and TWO (202) resale homes have closed since January 1st 2015 and 93 New Homes and or models have sold since January 1st 2015
Eighteen (18) Homes were sold by myself, to investors, and/or new home owners. Potentially other brokerages may have participated in these sales, and may not be recorded in the Multiple Listing Service. (MLS). The balance of the remaining sales are quick claimed and/or transferred warranty deeds, to perhaps relatives or partners!
One Hundred and Fifty one, (151) of these homes were 1650 sq. ft. or larger. Average sale price is not included as these sales are over a period of 18 months and cannot be considered in an opinion of value due to these time elements. Twenty six (26) of these homes have been sold in 2016! The price per sq. ft. ranges from $126.00 per sq. ft. to as low as $83.00 per sq. ft.
One Hundred and Twenty seven, (127) of these homes were 1649 sq. ft. or less. Again average sale price is not included per the definitions in the above paragraph. (43) of these homes have been sold in 2016! The price per sq. ft. ranges from $134.50 per sq. ft. to as low as $73.23 per sq. ft.
A great deal of factors come into play when evaluating sales. Year of home, upgrades and maintenance, location, and “yes new homes have been used in appraisals, depending on the conditions of the resale.” “LET ME BE CLEAR, I personally set the NUMBER ONE, benchmark for the use of NEW HOME SALES, to be included in resale home appraisals, June 2015! YES I hold the bragging rights, and any other agent claiming they started this trend are mistaken in their claim!
Location may offset resale values with homes that have few upgrades, however homes with few upgrades, and neglected properties no matter where the home is located will have consequences, and therefore rarely can be used in evaluating accurately!
The first 6 months of 2015, Tampa Bay closed on 66 resales & 39 new homes
The first 6 months of 2016, Tampa Bay closed on 60 resales only 46 were from the Multiple Listing Service and 19 new home sales have been recorded sold.
Six (6) foreclosures have been filed since the first (1st) of January 2016. No Sale date has been record. The addresses of these properties are as follows; 10637 Collar Dr., 9438 Rolling Cir., 29301 Zeller Ave., 29153 Princeville Dr., 10322 Moshie Ln., 29515 Fade Ct.
The above information is provided as a courtesy only, is not a full warranty, and should be independently investigated. If you are a potential buyer, investor, or seller I will be happy to provide a free estimate for the value of your property.
THESE Statistics do not reflect ALL the new construction sold or under contract. This POST does not include Foreclosures or Short Sales. The last Short Sale, I SOLD located at 10145 Old Tampa Bay Dr. from contract to closing, only took 47 days! LET ME BE CLEAR, the majority of foreclosures are selling for market price. When the Bank determines the clean-up, new paint and flooring will be supported when sold, they often move forward with improvements and the properties DO sell close to market value, and do not affect the appraised value as once thought. “CAUTION” every foreclosure I’ve represented the buyer in the past two 2 years requires the buyers to sign an addendum that releases the SELLER or (BANK) of any liability and may exercise the option to retract the contract even on the day of closing!
A quick synopsis of sales activity since April 1st for TBGCC !
This is all homes from 1200 sq. ft. heated to 2700 sq. ft. heated. 2 & 3 bedrooms! You will notice how distorted these stats can become when I break this down.
New Construction generated a huge advertising blitz the last week in April and first week in May that generated TEN (10) BUYERS ON RESALE HOMES. The most activity in a two-week period in all of 2016. K-Hovnanian is without doubt an influence on TBGCC market!
This does not include all NEW construction activity!
ALL non-segregated home activity with Seventy three (73) properties reporting since April 1st, 2016. SOLD Twenty six (26). My sources indicate the Multiple Listing Service is correct with these statistics in this time period. I sometimes find transactions are not reflected in the MLS. Sometimes what we call a POCKET LISTING by myself or another brokerage. PENDING or ACTIVE with Offer Twelve (12) AND ACTIVE INVENTORY Thirty five (35)
Let’s break this down a little bit so it’s not so deceiving;
ACTIVITY TWO (2) BEDROOMS; SOLD & CLOSED, Fourteen (14) PENDING or ACTIVE with Offer, Seven (07) AND ACTIVE TWO (2) BEDROOM INVENTORY, Ten (10) AVERAGE DAYS ON THE MARKET (83) and most importantly AVERAGE SOLD PRICE PER Square Foot $101.00
ACTIVITY THREE (3) BEDROOMS; SOLD & CLOSED Twelve (12) PENDING or ACTIVE with Offer, Five (05) AND ACTIVE THREE (3) BEDROOM INVENTORY Twenty five (25) AVERAGE DAYS ON THE MARKET (95) and most importantly AVERAGE SOLD PRICE PER Square Foot $105.00
These are averages and DO NOT reflect resales with UPGRADES and SCENIC VIEW’S
I’ve always been an analytical individual, a vice I wrestle with constantly. I would like to share some observations and perhaps help buyers and sellers understand some of the actions we see on the internet with properties that are for sale in Tampa Bay Community.
From May 5th through May 31st. five homes reduced their price, on 10424 Old Tampa Bay, 10512 Collar, 11103 Dormie Dr., and 29331 Schinnecock Hills Ln. and 10257 Hyannisport Loop. Not that these were extremely high priced, they had elements that created a reduction and to raise awareness to all the awaiting buyers watching properties in Tampa Bay Golf Community.
From June 1st through June 15th four currently have reduced their asking price, 10045 Old Tampa Bay, 10163 Hyannisport Loop, and 10372 Machrihanish Cir. 10333 Moshie with a $5,000 reduction!
Some of the price reductions are $1,000, $500, or as little as $100. The reasoning behind this is to raise the level of awareness that buyers & buyers agents are monitoring so it pleases the seller, brings activity to the active property or actually produces a qualified buyer. I’ve used these practices and am not afraid to share the reasoning behind some of the madness buyers, and sellers seem to question.
Just a quick note, since April 12, my last post five (5) re-sales have come on the market, six (6) of the active homes went pending one was on the market only three days (3) at 10201 Collar located on the 2nd fairway. Listed at $84.12 per Sq. Ft and has not closed yet! Also 10251 Collar went pending at $95.00 a Sq. Ft on the fairway with a new roof. This was one of my listings and the seller wanted it sold. March 30th I closed on 9981 Gape Wedge, one of my listings with only 1340 sq. ft. and sold for $134.33 a Sq. Ft. Very proud of that. I believe that is the highest re-sale for its size in Tampa Bay in the past three years. I just listed 11140 Moshie Ln for $265,000 and is featured in the Real Estate Book, Zillow, Trulia, Realtor.com and has a video tour as well as elevation, aerial drone and evening photograph. I offer FREE professional photography and since the first of the year has proven to produce higher sold prices and less time on the market. I currently have 5 listings in Tampa Bay, and 3 pending homes. I have listed two homes outside of our Tampa Bay Community that are parishioners at my church. Using Aerial and Elevation and extraordinary professional photos both only lasted 72 hours or less on the market and had at least 5 offers and as many as 16 viewings in this period of time. BOTH also have either sold for more than list price or contract is for more than the list price.
- PROUD TO SAY I recently received from RE/MAX CAPITAL REALTY,
- SILVER AWARD FOR ………CLOSED VOLUME
- SILVER FOR…………… CLOSED UNITS
- GOLD HONORABLE MENTION FOR Top Days on the Market.
April 12, 2016
My blogs have been slowed by the activity I have had in listings and sales in Tampa Bay Golf & CC. And the diligent search for a full time assistant. RE/MAX CAPITAL REALTY is incredible but a more personal attention is need for my customers.
This has given me an opportunity to provide an accurate on the spot experience to support the data I provide in values. Homes over 1600 sq. ft. have declined from an average of 128.00 per sq. ft. down to an average of $107.00 a sq. ft. Perhaps this is more due to the volume of buyers wanting smaller homes. 1600 sq. ft. and less is averaging $108.55 per sq. ft since the 1st of January and appears to be governing the market at this time.
New exciting news, since April 10th, Tampa Bay Golf and CC has SEVEN (7) new listings and Closed on TEN (10) homes that have been pending for 50 or more days! It’s becoming common to see more properties take 60 days or longer to close. My last three closings EACH sold for more than the appraised price. I’ve been able to negotiate a good selling price that my sellers and buyers have been pleased with. My last closing on April 8th had a contract price for 7% more than my buyer had anticipated. My seller was excited, and actually closed for $38,000 more than they paid for the home in 2010.
Since January 1st. TWENTY EIGHT (28) Homes have sold in Tampa Bay Golf community. This is down from 47 this time in 2015. K-Hovnanian has closed on 17 since the first of the year. Their sales too are down. This year has averaged 38 to 43 active re-sales and has given buyers a larger selection to purchase from. Last year we couldn’t keep TWENTY HOMES ACTIVE on the market. This may be accountable, due to all the construction! Please note that of the 28 that have closed 18 were less than 1600 sq. ft. MIN days on the market was 7 and the Maximum was 169 days on the market, and average days on the market for this size or less is Sixty one (61) days.
Again I will note a great deal of deception on the square foot list price, sold price for the smaller homes. I’m receiving reports that claim $109.00 a sq. ft. is the going sales price. Many variables come into play here and as I have shared the past 12 months, Conservation, Fairway, and Pond frontage have significant impact of these variables. Call me and ask how I sold a 1340 sq. ft. home for $130.00 a Sq. Ft. I continue to hold percentage wise, the highest square foot successfully sold homes in the Tampa Bay Golf & CC Community. Very proud of it too!
“GOOD NEWS” is sales appear to be up from a neutral market two months ago.
If you visit Zillow, or my website, or Realtor.com you will notice all my listings now have elevated and evening photography. Many of these listings are not lasting long and a listing I put in the MLS on Monday has received multiple offers.
Want more updates on homes I have listed, in Tampa Bay and a fair and honest value for you home, please give me a call. 352-834-1326
The current feedback fr0m home buyers indicates the congestion on SR 52 has seriously slowed interest of potential buyers in Tampa Bay Golf & CC. As of this post I’ve been told the front entrance will be completed in two weeks. This hopefully will create the trend needed that will change the market from neutral to a sellers market again.
In the past 20 days from Thursday March 3rd 6 new homes have gone on the market, 8 have gone pending, so we do have some buyers, just not nearly the trend we experienced in 2015. Five homes have sold, or closed.
I currently have three homes under contract, and four fairly new listings. 9981 Rolling Cir is in a location that has lots of room and privacy. The value was raised because the home has been modified to accommodate taller individuals. No back problems to be concerned with and the extremely unique storage areas. A very slick, created home owner. Some additional homes new on the market, 29246 Coharie Loop for $169,000 and 10049 Old Tampa Bay Dr. and 10251 Collar Dr in Tampa Bay. Feed back indicates they are all priced right for their locations and condition. Hoping for a super turn around in active inventory once the new entrance has been completed.