Palm Harbor real estate is all about helping our buyers buy a Palm Harbor home and our sellers SELL a Palm Harbor home. Today we are going to talk about what it takes to get your Palm Harbor home SOLD!

Having been in the business for a while, we have see HUGE sellers markets where homes flew off the shelves (2003ish-2005), normal markets where homes took about 6 months to sell (pre real estate boom) and for the last 5-6 years or so, we have seen a buyers market where homes languished on the market for YEARS without a nibble if they were overpriced or not in tip-top shape.

Even with the recent uptick of activity and downtick of inventory, selling you Palm Harbor home is no cake walk and we want to lay out for you some of the things we hear on the street (that you might be thinking but no one ever told you the straight story on!)

What Are “Comps”

Realtors have as many acronyms as the military does (RUN if they offer you MRE’s for dinner) and one of the main ones we talk about A LOT is “comps”, but what the heck is a comp? A comp is a comparable property, one that is similar to yours in size (square feet), rooms (number of beds and baths), garage or no garage and how many stalls, pool or no pool, etc.

Generally these are properties which have sold in the last 6 months (successful) or those that are still on the market as current listings (unsuccessful). It may REALLY surprise you to know that Realtors and Appraisers do not look at special benefits like granite countertops or marble floors when looking at comps (more about that later).

Comps are just there to provide a true guideline about what people are paying for properties of a comparable size, in a comparable neighborhood to yours.

Pricing Your Home

In a declining market, like we have been in for a while, it does not pay to “test the market” with a higher price, thinking that you can always reduce it later. Instead what happens is the homebuyers, who are out there looking at all the comparable homes on the market, see that your listing does not offer all the amenities that the other homes in that price range do and cross you off of the list.

BUT, the other agent I talked to said it would be okay! We hear this A LOT! This is called “buying the listing” and means that the other agent will be coming to you for a price reduction later since the market determines the price, not the Realtor. Now, we can help A LOT with honesty about condition and marketing, BUT we cannot change the fact that other homes in the area have not sold for that high a price in a number of years (we know because of the comps!)

Special Houses, Repairs and Condition

We ALL think our house is a special house (even Realtors fall prey to this one!). If you have EVER uttered the words, but my house is special house, you must click the link and read our past post, don’t worry, we will wait right here for you to come back!

What having a “special” house means is that you have more features than your neighbors. Better tile, more granite, a bigger play area, nicer pool deck, etc. While all of these will help your house sell FASTER, remember the comps, there are not really LEVELS of pools, just pool or no pool. There no places to check if you have maxed out your garage with storage and a cool floor, just how many stalls there are for cars.

So let’s talk about condition and repairs. Condition is more along the lines of, are the scuff marks all over the cabinets, grunge behind the sink, kids toys littered around, etc. To you, these are all signs of a well loved home, to the homebuyers, they represent work, plain and simple. Work to clean your grungy kitchen, work to retile the bathroom (although in actuality it only needs a good scrubby dub), work to “PAINT THE WHOLE HOUSE” or “TAKE DOWN THE WALLPAPER”. Those caps are deliberate, that is how doing those things is said by the buyers.

A great trick to see what you need to do in YOUR house is to ask to go see a couple of other homes on the market with your Realtor. Make notes of the things that creep you about other peoples homes and go make sure that yours does not have those same issues. Additionally, ask your Realtor to be brutally honest about what you should do to get show ready. It will make you sad for sure, but if you get extra money or sell extra fast, you will get over it for sure!

One thing Palm Harbor real estate sellers never see that we put in Realtor remarks on a listing is “Mrs. Clean lives here”, this is code speak for “the house is immaculate and if it is even slightly what your client wants to buy, bring them over, they may not love it but they will appreciate you for showing it to them!”

Repairs are a pain. We know! But they will be YOUR pain when it comes time to get an offer. If a buyer sees that there is a leak in a faucet, they could request a thousand dollar credit for a two dollar washer. Have a hole in a screen, that hole could wind up costing you hundreds of dollars come offer day, when for twenty bucks and splining tool, you (or your handyman) could get your home tip, top, up to snuff with NO REPAIRS NEEDED!

Additionally, repairs done PRIOR to an offer can be done by a handyman, the homeowner or other qualified person. Repairs done AFTER an offer ALWAYS say done by a licensed contractor. So your drippy faucet and loose plug would require a licensed plumber AND a licensed electrician!

So, do we have you running for the hills yet with all this Realtor speak and honesty? What we have found in the Palm Harbor real estate market is that home sellers REALLY do want to know the truth and not have a house sit on the market for months (or years). We work WITH all of our sellers to make sure their home is positioned to sell fast and for top dollar by considering the comps, price AND condition!

Give us a call today to learn more about how we work to get your Palm Harbor home SOLD!!!
727-366-0324

Make sure to keep your peepers open for next weeks post, Palm Harbor Real Estate – Appraisers, Financing and the Elusive Cash Buyer!

As Palm Harbor Realtors, we are often asked by our sellers why they have to “give their house away” to get it to sell (or words to that effect). As quality Realtors in a tough marketplace, we often have to talk about hard truths with clients. For the last 5 or so years we have been in a “buyers market” which is defined by a good rule of thumb as when the average Days On Market (DOM) for home sales in the area are over 6 months.

While there are always pockets of Pinellas that have come in and out of being areal estate sellers market over the last few years, the MAJORITY of the Palm Harbor Real Estate market is solidly in a Real Estate Buyers Market (as is most of Florida). Now, during the year, there ARE natural fluctuations in the market that can change a buyer’s market to a seller’s market: winter has long been thought to be the wrong time of year to sell, spring and summer are a better time. However, if there is a shift in the market, a disaster of some sort or a large employer closes, this can create a buyer’s market that lasts for years. A recession can do the same thing.

Being in a buyers real estate marketing is hard on sellers. Not only do they have to contend with declining prices, Short Sales and REOs (bank owned properties), but they have to have their home in super duper, tip top condition to be able to sell. Gone are the days when you could decide in the morning to list your house, vacuum the rug and be ready to show. Today you need to get your house in show ready condition, BEFORE you list it. Here are some tips for you, tips for staging your Palm Harbor Home.

If you are living in Palm Harbor and find yourself in a buyer’s market, you will quickly realize that buyers make more demands of you in order to purchase your home. They will require that certain items be sold with the home, such as drapes or lighting fixtures. Buyers may require a home warranty paid for by the seller or have you shoulder more of the closing costs or require other contingencies. Depending on your position, whether you are in a “must sell” place or have a lot of or little equity will decide if these demands are met, but bottom line becomes if you want to sell you may have to pay.

I KNOW, you are probably thinking, “what kind of Palm Harbor Realtors are these?” You are probably used to hearing sunshine and flowers from the agents you have talked to about how they can get you a great price for your home. Well, we are super honest, super hard working Palm Harbor Realtors who will work their tails off to get your home sold and will also tell you the hard truths about the market (good for buyers, not so great for sellers right now!) Give us call today to find out more or request a complimentary home pricing evaluation! 727-366-0324

In the peak of the Palm Harbor real estate boom you heard all the time that we were in a “real estate sellers market”. For homeowners who were looking to sell and who might not have even been able to technically define the term, it was a giddy time. Any house thrown up there would sell in what seemed like a matter of minutes. But alas, like all good things, the extreme sellers market came to an end a few years ago.

So what is an extreme sellers market? It’s a real estate market where demand for homes exceeds the supply of homes for sale. For instance, in the corporate world, if a new product is released, it creates a seller’s market. If the manufacturer isn’t sure whether it will be a hit, they will manufacture a smaller amount. This creates a higher demand for the existing supply. The company may not increase the price, but they COULD to adjust to the demand (think the recent shortage of the new iPads from Apple).

In housing, what usually happens is that there are multiple bidders for existing homes so prices are inflated. Those who list homes in a sellers market will see this as a time to list at a higher price, and they often get it. This doesn’t go on indefinitely since generally the price of homes will reach a “breaking point.” This is the point where potential homeowners can no longer afford to purchase a home. This point then will gradually help to stabilize the market. It’s also the point where our economy went bad and the “bubble burst.”

Sellers markets give current home owners a huge advantage, even if they don’t plan to sell their homes. This is because their homes are suddenly worth a great deal more. Should they need to refinance, the rising value of their home makes this very possible, however any homeowner should keep in mind that should the market reverse, they may be stuck with a loan on a home that is suddenly not worth what is owed on it – this is the situation for many of our short sellers here in the Palm Harbor real estate market. They purchased at the height of the boom and now own houses that can be worth 50 percent of what their mortgage owes.

In a sellers market, homeowners may also find themselves in a position where their equity now far exceeds their current home loan, and they are able to pay off their mortgage. Buyers may also find that banks become very choosy about lending, and charge higher interest rates. However, this can backfire because if rates go too high, buyers will stop buying and deflate the sellers market.

So what does a sellers market look like in today’s Palm Harbor real estate landscape? You may be surprised to know that we have had pockets of sellers markets throughout the slump. Areas which have maintained less than the 3-6 month inventory which portends a sellers market. (you can figure out how many months of inventory by dividing the number of homes on the market by how many sold the previous month…so…750 homes on the market, 250 sold, equals a three month inventory)

So am I saying that the sellers market is back and your Palm Harbor real estate will fly off the shelves? Unfortunately, no, BUT it does go on a home by home basis and we would be happy to come out and take a peek at your house, giving you a FREE market report to see what your neighborhood is doing! Give us a call today 727-366-0324

The history of Palm Harbor FL, located on the coast just north of Dunedin in Pinellas County, has always been associated with relaxation and tourism.  Early settlers called it Yellow Bluff. One early resident, Illinois native J.C. Craver, arrived in 1877 after his physician recommended a warmer climate to treat Craver’s tuberculosis. 

According to the Palm Harbor Historical Society (read more here), Craver built his first cottage on land owned by Walton Whitehurst, and Craver called it Limetta Farms. He began fishing,farming, ranching and harvesting timbers on the densely forested acreage between Yellow Bluff (an area that is now Ozona) and Lake Butler (later renamed Lake Tarpon). In 1883, Craver recieved a homestead for 160 acres and opened a general post office and store near the present day interspection of Tampa Road and County Road 1.

Palm Harbor was the same community as Ozona and Crystal Beach, which are now recognized as their own communities within the Palm Harbor area.

The town went through several names. Yellow Bluff was scratched after the yellow fever epidemic hit Tampa in favor of Sutherland.  The railroad came through during this time, bringing tourists.The area quickly sprouted two spacious hotels, the larger of which became Southern College in 1902.

Its main industries were cattle and citrus farming, the latter of which is still celebrated today, every April, at the popular Palm Harbor Citrus Festival.

Sutherland was thought to be named after Duke of Sutherland, who visited these parts after landing at Tarpon Springs in 1887. Local pioneers insist that Sutherland is just a shortening of Southern Land and Development Company, the group which originally platted the community in 1888.

The name was changed to Palm Harbor in 1925. Now boasting about 59,000 people, it is one of the largest unincorporated communities in northern Pinellas County and is treasured by the families, retirees and others who call it home.   

If you would like to make this wonderful community your home, call your Palm Harbor FL REMAX Realtors, Julia (727-366-0324) or Matt (727-366-0325) Fishel at the Pinellas Peach or email Info@PinellasPeach.com.  This is our core community and we would love to share it with you!  

Palm Harbor real estate does not get any better than the Villas of San Marino – we love this little gated community of Palm Harbor Townhomes right on the Pinellas Trail and accross from Historic Downtown Palm Harbor!

The Villas of San Marino Video

Click here to view the embedded video.

Our Take On The Villas of San Marino

Built in 2005, this development contains the ONLY gated Townhomes in all of Palm Harbor.  With direct access to the Pinellas Trail, being just one minute to the Gulf of Mexico and right across from the restaurants and shops of Downtown Palm Harbor, we recommend this for both full time residents and more seasonal people who are looking for a vacation or second home.

ALL of the homes are upscale with granite countertops, top of the line fixtures and access to the heated pool. One fun fact is that some agents list the Villas of San Marino units as “waterfront” because you can sneak a glimpse of the gulf in some of the units at the back of the complex.  In reality, some really just overlook the “water” in the back of the complex.  We call this the ditch that does indeed fill up from time to time, but in actuality, the wonderful location and great security are more than enough for us to put this as a must see without the slight exaggerations!   Not to mention, after a strong summertime rain, the chorus of singing frogs in the ditch at night are hilarious!

The Villas of San Marino Real Estate Info

All of the units in this complex are three bedrooms and two and half or  three baths with a 2 car garage. Units range from 2,300 square feet to 2,500 square feet and are block stucco construction with block walls between the units so you won’t hear a peep out of your neighbors.

The only sale in the last 6 months was for $210,000 while currently pending homes are listed at $209,900 and $225,000 respectively. There is currently only one active listing, at $425,000.

We specialize in this area and frequently know when one of these great homes may be coming on the market BEFORE it hits the MLS!  As a matter of fact, that happened just yesterday and we had it under contract within an hour (and before it hit the MLS!).   If you are interested in hearing more about this great Palm Harbor Real Estate community, give us a call at (727) 366-0325!

Crystal Beach FL Real Estate has more to offer than an eclectic mix of beach cottages and luxury estates. Crystal Beach is actually part of the ‘West’ Palm Harbor Real Estate market. There’s lots to do and see here, though Crystal Beach has a few extra special perks.

Why Crystal Beach Real Estate? 

• LEGALLY ride your GOLF CART around town!  
• Enjoy a bike ride on the Pinellas Trail without having to cross a busy street to get there.
• Participate in the numerous Crystal Beach activities for residents – including the annual lighted golf cart Christmas parade, Annual Chili-Cookoff, Men’s drumming sessions, kayaking adventures, and oh the list goes on.
• Smell the salt air even if you don’t live directly on the Gulf of Mexico.
• Enjoy the look and feel of  ”Old” Florida living complete with trees draped in Spanish Moss.
• Be part of the unofficial ‘Crystal Beach’ insiders club.  They’re a friendly bunch and readily welcome newcomers, though actually living IN Crystal Beach is required. 

What Crystal Beach Real Estate and Palm Harbor Real Estate both Offer Residents: 

• PGA Golf at Innisbrook Palm Harbor or  St. Andrews Links in Dunedin are within a 5 minute drive.
• The Sutherland Bayou and Pop Stansel public boat ramps, plus a half dozen private marinas.
• Your kids can go to the Palm Harbor public schools which are some of the most highly sought-after schools in Pinellas County.
• Parks including Wall Springs Park with hiking trails, picnic tables and the best playground in Palm Harbor (just ask ANY kid).
• The brand new Crystal Beach Publix grocery store.
• Fresh produce stands along Alt. 19 with fresh, local caught shrimp and gourmet delectables.
• Restaurants – Florida fish places, Sushi, Family Run Pizza parlors,  Thai, Burgers and beer and very upscale Italian – just to name a few. 
• Florida Avenue in downtown Palm Harbor with its abundance of art shows, street festivals, annual carnival and even its annual Christmas parade.
• Santa drives through every neighborhood on a firetruck before Christmas!

So, yes, owning a slice of Crystal Beach FL real estate has more to offer than Palm Harbor real estate – that is, if you’re one that beats to a little bit of a different drum.  If so, expect to fall in love.

On July 30th, 2009, the Federal Reserve Board’s new Mortgage Disclosure Improvement Act (MDIA) goes into effect.  It’s mostly good news for if you’re refinancing your home or buying Dunedin real estate, yet it does mean that it could take longer to close on your home loan.  Here are the facts simplified:

• 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.

These Palm Harbor Realtors were once again pleased to see the latest sales numbers for Pinellas homes just released from the Pinellas Realtor Organization (PRO).  The number of Pinellas condos and Pinellas homes actively on the market continues to decline at a good clip, whereas the total number of properties sold is up for the FOURTH month in a row.  WOW!The absorption rate (A/R on the above chart) is the quick indicator that’s shown above that Tampa Bay Realtors use.  As you’ll note, the absorption rate for single family home sales is higher than it was in August of 2006!

Note that the average sales price of Pinellas condos was up significantly from March 2009, which made no sense to us at first glace, because the condo sales prices we’re seeing are dropping like stones due to tough financing issues specific to condos (a topic for another day).   But we dove much deeper into the stats (so much for watching that Boston Legal rerun tonight), and discovered that there was a huge surge in high-end condo sales between $400K and over $1M, which explains the delta.  It’s going to be interesting to see if that trend continues, and we’ll keep you posted.   So,  if you’re ready to dive in and buy that $1M+ Clearwater Beach condo, the getting is good.

By the way, click the “Submit Your E-Mail” button below to subscribe to The Pinellas Peach.  We’ve got some really interesting sales stats for Pinellas Foreclosures vs. Pinellas Short Sales vs. “regular” sales coming your way as fast as we can write ‘em!

Corteo’s Pizza and Pasta Restaurant in Palm Harbor, Florida makes a Sicilian pie that is hard to find outside of the Northeast. First of all, they construct it with real mozzarella cheese, not the inferior soy-based products that predominate. Their pie is also made in the infamous “Grandma-style” by nestling the cheese under the sauce. This method enables the cheese to stay moist and not burn. The sauce on top also helps to keep the cheese on the slice instead of it pulling off in the first bite. These things are important to a pizza lover!

The entrees are reasonably priced. The restaurant is clean and although not dripping with ambiance, it is open and friendly. The owners are those of the Michele’s Italian Restaurant that closed some years back.

Corteo’s offers “Parties on the Patio” for up to 20 guests for birthdays, anniversary parties etc. They only require a 5-7 day advance notice. Catering Trays “To Go” are another option with only 3 days notice required from order placement. Early bird specials are featured daily from 2:30 – 5:30 offering courses from appetizer to dessert.

The absolute best bet though is calling ahead and swooping in to pick up a Sicilian pie to go! Corteo’s is located at 32922 US 19 in the shopping center by Hops. Mangiare!
 

There are little hills in Florida!  The Eniswood subdivision is a beautiful tree-lined neighborhood in West Palm Harbor just northwest of Alt. 19 and Alderman Road.  Eniswood is a deed restricted neighborhood with a voluntary Eniswood homeowner’s association which costs only $100 a year if you elect to participate.   Most but not all of the homes are 1-story and are 2,300 sq. ft. to just over 5,000 sq. ft.

Click here to view the embedded video.

This ideal family neighborhood features spacious lots and some even provide Eniswood Lake (really more of a large pond) or conservation views.  These homes built in the 1980′s feature vaulted ceilings, split floor plans and have a spacious feel to them.  Many offer fireplaces for those occasional cool Florida evenings.  Many have been updated with new kitchens and baths.  You can invest in a home here between the high $200′s to the mid-$500′s.   

The highly acclaimed Palm Harbor University High is a short walk from Eniswood, and it’s just a few blocks from The Pinellas Trail and Wall Springs Park.  As of this writing, a new Publix grocery store is being built in the small shopping center that borders the neighborhood.  Of course, Pinellas Beaches are only a few minutes drive away – including the famed Honeymoon Island and Caladessi Island.  If a manicured family neighborhood is what you’re after with an ideal Palm Harbor location, Eniswood is the place to call home. 

Call your Palm Harbor Realtors, Julia and Matt Fishel, at Suncoast Partners at Keller Williams Realty Palm Harbor @ (727)366-0325 for current offerings.