So I was just surfing the Tampa Bay MLS looking for Palm Harbor waterfront foreclosures and homes for a new client friend.  I came accross this ridiculoussly small picture of what may be a perfectly lovely home, but I wouldn’t know because I can’t see it.  The Realtor private remarks say that the “Seller is Motivated”.  Too bad the seller hired the wrong Palm Harbor Realtors.  When professionals like us see this sort of thing it makes us cringe – and sadly doens’t do anything to elevate the public’s perception of Realtors. There are only three determining factors that control whether or not your home will sell, and we call them the 3 P’s. 

1. Presentation (how the home looks – which is something you control)

2. Price (your asking price – which is something you control)

3. Promotion (this is how your property will be marketed and your agent controls this.  Your agent selection is critical.).  By the way, see How to Sell My Home Now for a glimpse of what we do that’s far above and beyond the normal call of marketing duty for a typical agent – and light years beyond what this agent has done with the microscopic photo.  

Did I mention that this was the ONLY photo provided, and it’s been on the market 184 days and counting?!?!!!

• This mandate will apply to EVERY mortgage in America.
• The lender must give you a TIL (Truth in Lending) disclosure with all of your closing costs spelled out within 3 days of your initial application.  If you don’t get the disclosure, you can pull the plug.  By the way, our lender partners have always done business this way.  If you need a referral to a lender that has always played by the book, and provides the best interest rates going, contact us.
• There must be a 7 day waiting period between the date the initial TIL disclosure is provided to you and the closing occurs.  AND! …best of all ….

• Any change to the initial APR disclosed in the original TIL that exceeds 1/8% (.125) for a regular transaction or 1/4% (.25) for an irregular transaction will require a new TIL disclosure with an additional 3-day waiting period between its receipt by you and the actual closing date.
• The waiting periods will not include Sundays or federal holidays.
• No fees, other than a credit report fee, can be charged before your receive your disclosure.

Long gone are the days of last minute changes to the borrowers loan terms.  This may postpone your scheduled closing date, yet these Palm Harbor Realtors think we’d all agree that buyers of Pinellas Real Estate deserve this peace of mind.

By the way, interest rates today are at about 5.4% for a 30-year fixed conventional loan.  See what it will cost you if rates rise on Pinellas mortgages later this year, as some are predicitng.

Click here to view the embedded video.

While I am happy I am not personally bored because the summer is one of our busiest times to show and list Pinellas homes, I really don’t want my child to be!  I think we’re all caught up on the summer movies at the AMC Theatres Woodlands 20 on Tampa Road in Oldsmar and we’re a good way through the summer reading list, and then I hear there’s a new Sprayground in town!

We’ve had a nice rush of needed rain in Pinellas County these past two weeks but under sunny Florida skies, crazy water jets, mushroom and spinning sprayers, and water canons sounded like the perfect summer vacation cure.  The Highlander Pool  just officially opened this new edition to the ever-diversified Dunedin.  It is called the Kiwanis Sprayground replete with a Loch Ness Monster theme. It is located at 1937 Ed Eckert Drive, Dunedin and will be open from 9AM until dusk.  If you’ve got kids, the Dunedin Sprayground is amazing, not to mention FREE!

So fresh air, sunshine, physical activity, and showers of water are just what this Palm Harbor Mom needed to pry the keyboard away from her child.  And the nice park bench in the shade didn’t hurt, either.  Here this mom even had time to strategize her Pinellas real estate lead generation strategy for the week, which supplements our referral business and helps sell our listings!

One of our favorite spots is The Black Pearl Restaurant  at 315 Main Street. We’ve dined in some excellent restaurants in big cities in the states and across Europe, and the Black Pearl stands up very well against that kind of competition.

It is not the least expensive place to dine in Dunedin, Florida; but as a treat, or to celebrate a significant event, or to toast your favorite Palm Harbor business partner, you cannot beat the cuisine and the service.

We love being one of the hard working Palm Harbor Realtors, but after a long day of showing Pinellas short sales and Pinellas foreclosures, we love to treat ourselves to the exceptional service and soothing ambiance of this very fine establishment. Enjoy!

The Black Pearl
315 Main Street
Dunedin, Fl 34698
727-734-3463

Conventional interest rates had been hovering at historic lows of 4.75% – until this week, where they ended at 5.27%!  It is unlikely they will stay in these low ranges, whether the 4′s or the 5′s for any length of time say most experts.  Mortgage interest rates are tied to the bond market which has begun to take hits due to the state of the economy.  Money.com had this good synopsis Thursday if you want to delve deeper.

So, if you’re waiting for that $200,000 home to fall another $10,000 or 5% – this will take about three months in our current market.  Now its September 1st and you’re going to offer $190,000 and save about $50/mo on your mortgage payment.  But wait!  Interest rates have risen one point to 5.75%.  Now your mortgage payment is $125.00 MORE than it would have been last week.  This scenario has now cost you an additional $75.00/month – for the next THIRTY YEARS!!

$200,000 home with an 3.5% FHA 30 year loan:

4.75% = $1006.78/ mo payment

5.75% = $1126.30/mo

6.75% = $1251.79/mo

Some will say, “not a big deal.”   Really?  A 2% jump in interest equates to an additional $3,000 per year and over $162,000 over the life of the loan.  Hmmm… 

What’s the other boat?  Trying to time the bottom of the market.  A post for another day!