How NOT to sell Palm Harbor Waterfront Homes!
July 26th, 2009 categories: LIST and SELL MY HOME FAST!
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.
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Presentation (how the home looks – which is something you control)
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Price (your asking price – which is something you control)
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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?!?!!!
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Buying Pinellas Real Estate? The New MUST-KNOW Mortgage Disclosure Rules: The Mortgage Disclosure Improvement Act (MDIA) starts July 30th
July 24th, 2009 categories: Mortgage Updates
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 ….
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Palm Harbor Waterfront Homes: HURRY on this 4/3/2 Fully Updated Gem with Dock, Covered Lift & Pool! Offers due by Aug. 7th at 12PM! May the Best Man (or Gal) Win!
July 22nd, 2009 categories: Palm Harbor Homes, Pinellas Foreclosures and Short Sales, Pinellas Waterfront Homes
Looking for a spectacular piece of waterfront Palm Harbor Real Estate at a Palm Harbor foreclosure price? Look no further! This 1,960sf Palm Harbor short sale is just about to hit the open market again at only $299,123! Note this property had 5 offers in 2 weeks when first introduced in April. However, it’s your lucky day .. the original buyer’s plans changed and so now your dream can be a reality. Call Julia at (727)366-0324 or contact us for details and to arrange your private viewing. No showings until Saturday, July 25th, and all offers must be received by August 7th @ Noon.
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Pinellas Real Estate Sales May ‘09: On The Road to Recovery
July 7th, 2009 categories: Pinellas Market Statistics
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!
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First Time Homebuyer Tax Credit for Pinellas Real Estate: The Truth, The Whole Truth, and Nothing but the Truth
June 5th, 2009 categories: Mortgage Updates
The American Recovery and Reinvestment Act of 2009 was the heavily debated economic stimulus package that was signed into law in February of 2009. The home buyer tax credit is a component of this package and was created to promote home ownership.
The bill originally provided for an $8,000 tax credit available to first-time home buyers for the purchase of a principal residence on or after January 1, 2009 and before December 1, 2009.
There’s great news, however, if you’re in the market to purchase Pinellas Real Estate! Buyers may now use the credit upfront as extra down payment money, to lower payments, pay discount points (reducing their interest rates), or to supplement closing costs.
The big “BUT” here is that buyers CANNOT use the first time home-buyer tax credit toward the 3.5% minimum that is required of FHA insured loans. The buyer still has to present those down payment funds, yet they can be a gift from a relative.
The Truth About the Misinformation Currently Being Circulated Amongst the Mis-Informed:
There’s a lot of misinformation out there saying that the $8,000 can be used for your down payment, but that’s just not the case! It’s a convoluted mess because HUD originally released this Mortgagee Letter 2009-15, later rescineded it (the details as to why are unclear other than they realized they made a mistake), and now it’s up for public speculation as to what’s going to happen with that aspect of it. For crying out loud, we reported last October that the FHA had just done away with all seller-funded closing costs - now they want to essentially reverse that?! For the real facts, keep checking back, or better yet subscribe to The Pinellas Peach and you’ll be notified automatically.
Eligibility for the $8000 tax credit can be found Read the rest of this entry »
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Beware: Don’t Miss the Boat(s) on Your Pinellas Real Estate Purchase! How Rising Mortgage Interest Rates Hurt Your Bottom Line … Even in a Declining Market
May 30th, 2009 categories: Mortgage Updates
As Pinellas real estate prices have continued to drop each month, some Pinellas home buyers continued to play it cool, sit back and wait until a particular Dunedin Fl neighborhood becomes affordable in their eyes. Beware! There’s another boat you don’t want to miss.
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!
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A Taste of Pinellas at Vinoy Park in St. Petersburg This Weekend
May 28th, 2009 categories: Eat A Peach Restaurant Reviews, Pinellas Things to Do & Events
A Taste of Pinellas is happening this weekend and it looks like it’s going to be even bigger and better than last year. The setting alone (on the waterfront in Downtown St. Pete) is spectacular, but the celebration of great food and music makes it one of the best annual parties in Tampa Bay. This event is like the Taste of Palm Harbor on steroids! Admission is free and all of the proceeds go to support All Children’s Hospital.
Food and drink can be purchased from the restaurant booths with tickets — a sheet of 8 tickets sells for $5 and can be purchased at the event. There will be a Kids’ Zone for children and a specialty & import beer garden.
But central to this great festival is the tremendous opportunity for local restaurants to present selections from their menus. As of this writing some 40 restaurants are scheduled to set up and show off their extraordinary fare. Just some of the tasty treats will be served up from the ever-popular Bob Evans, the succulent ribs from Brady’s Backyard BBQ, the Courtside Grille , famous Crabby Bills , classic favorites from Five Guys Burgers and Fries , perfect sausage and peppers from Gratzzi Ristorante , and the local favorite, Hurricane Seafood Restaurant.
There will be music for every taste throughout the weekend but the headliners include: Night Ranger with Lita Ford on Friday night, Travis Tritt on Saturday and the ever-consistent KC and the Sunshine Band on Sunday!
Visit the parking and shuttle map to get yourself situated. We hope to see you down at beautiful Vinoy Park in St Petersburg!
Friday, May 29, 5pm-10pm
Saturday, May 30, 12pm-10pm
Sunday, May 31, 12pm-7pm
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Palm Harbor Pizza – These Palm Harbor Realtors Give Corteo’s Two Thumbs Up!
May 6th, 2009 categories: Eat A Peach Restaurant Reviews
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!
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Dunedin Home and Shower Curtain For Sale
December 8th, 2008 categories: LIST and SELL MY HOME FAST!
Taking good bathroom photos is challenging, even with a wide angle lens. Does this shower 
curtain close-up make you want to run out and see this Dunedin home that’s currently on the Pinellas MLS? Do you suppose there’s something lurking behind there? What?!
When you’re house hunting online, what photos do you most like to see?
The most interesting response to these questions wins a Starbucks gift card and a possible feature on The Peach! Please send your response here.
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