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

We were in training the other day and the question of why using (Palm Harbor) Realtors to buy your home makes such good financial sense came up so we thought we would share it with you, our faithful readers!

When buying a home, the first thing that comes to mind on your “to do” list isn’t generally “hire a realtor”, but it SHOULD be.

Most of our clients start their home search by looking at the magazines or newspapers to see what is on the market currently. First off, with these, you need to take them with a grain of salt. Many are not still for sale or are actually worth much less than the glossy mags may tell you! The information given is also limited and believe me, the pictures are ALWAYS taken from the house’s best side with maybe a touch of Photoshop thrown in.

Next, buyers tend to go visit open houses, checking out neighborhoods that they would like to live in. This is a VERY random way to pick your next house. Choosing this way could mean falling in love with a “charmer” that is outside of your perfect geographic location or price range.

Oh, then what about the internet? Most realtors have a home search feature on their website these days, could the buyers just check those out? If you are going the internet route, you can plan on kissing some frogs (Realtors and houses) before you get far. We have worked with many home buyers who spent the first months of their searches looking online, schlepping out to a house, finding out that it is on the corner of the two busiest streets in town, or next to a dump, or beside a railroad track, or next door to a…well you get the picture.

So why SHOULD you talk to a Palm Harbor Realtor like us first?

Some top reasons are:

• we can help narrow down the type of houses you would like to live in, sometimes even bringing up suggestions of styles you don’t even know about!
• we know the neighborhoods, having spent about 4 hours a day, all day, everyday driving around looking at houses – unless you are a UPS man, we just have seen more houses and neighborhoods than you can imagine!
• we watch the market and know what is overpriced and what is a deal (and no, you will not get a house for 5 cents on the dollar, but we sure can help you find a great price on a home!)
• negotiating, negotiating, negotiating – we KNOW, usually it is location, location, location, but we are focused on getting our clients the best prices with the features and amenities they want (or need!)
• helping you decide what is important to you and your loved ones BEFORE looking at hundreds of houses (we average between 5-10 house visits per search – cutting WAY down on visiting every house in the MLS!)

While we all like to dream of the “perfect” house, we have found that dreaming of the “perfect house for you” saves time, energy and money. If you would like to find out about using Palm Harbor Realtors to make your home search easier, please give us a call today! 727-366-0324

Have you thought about buying a Florida historic home? Maybe you have entertained the idea of owning your own bed and breakfast or just find the architectural aspects of such homes intriguing.

Perhaps you have inherited a beautiful historic home that has not been restored. Historic homes have much to offer, and typically much to repair. Before you make a decision and find yourself overwhelmed and committed to a restoration project, take a step back and consider this article!

What Is A Florida Historic Home?

Let’s start with historic homes in Florida and what that means. We are Palm Harbor, FL Realtors, specializing in homes in Pinellas County (the little finger that hangs off the left side of the state). Historic homes in our area range from small wood frame homes like you see in Gulfport or Safety Harbor to huge historic mansions that sit on Druid Road or along the old thoroughfares of days gone by.

Compared to most areas (like the Northwest US), our area of Florida does not have hundreds or even thousands of historic homes for sale, although in other areas of the state (like St. Augustine) there are many more historic properties for sale.

The Condition Of Your Historic Home

Florida historic homes offer their own brand of problems. Rot, termites and past flooding are just a few of the maladies that can plague old homes in the Sunshine State.

To keep your investment safe, first you want to consider the structure of your historic home, hiring an inspector or licensed contractor to do a home inspection. While we frequently wait for the home inspection to schedule the termite inspection (waiting to see if there is any evidence of active sightings), in this case, you will want a comprehensive review of all known problems, making a termite inspection a must-do.

For both inspections, make sure a complete and thorough examination is done. Water damage or dry rot  could end up resulting in a very labor and cost intensive project. It is much less devastating to walk away from your potential new home, paying only the inspection bills than it is to buy a home in need of repairs that exceed your budget.  Prior to initiating repairs, consider the historic value and materials used in the original construction of the home, and then proceed with like materials. Provided you have the resources, all repairs should be considered as “restorative” and use original materials.

Living In A Historic Home

If you will be living in the home, evaluate whether your “new” home will meet the current needs of your family. Often smaller rooms and less bathrooms are typical in historic homes, however you can choose to remove walls and windows or adapt them to create a better suited floor plan, while still maintaining the original intent of the initial homebuilder. Some of these issues may seem more difficult to solve, and may even cause unexpected emotions to flare depending on the importance to the parties involved, when discussing home features. In such situations, it may be wise to evaluate all alternatives and work out a compromise or other option prior to doing the work.

Historic homes can be quite beautiful and definitely worth the expense and love required to restore them. Your finished project will bring a smile to your eyes and warm the hearts of others who visit your home in the years that follow.  Most importantly, though, you will be happy with your decision to purchase and restore your home, knowing you did your homework first!

If you would like to find out about historic homes for sale in Florida, give us a call today 727-366-0324! We love working with buyers and sellers of historic homes in the Tampa Bay area and have a network of other Florida agents we work with in other areas who we can refer you to!

When you are house-hunting, very few Palm Harbor Realtors will ask if you are actually READY to buy a Palm Harbor home, fearing that they will lose a sale. We have found that if we tell you all the bits up front, we are SO much better able to help you find the best home for you or your family!

Buying a home is definitely a big step but it can be gratifying. Let’s look at some reasons to buy.

When you rent, you are living under someone else’s rules, not your own. Your landlord makes the decisions in your rental home. What color walls? They may say “only white”. May I have a pet? Maybe, if you pay extra. How much must I pay each month? Will my rent be raised?” Is the landlord going to sell the house & we will have to move?

Buying a home at a fixed rate mortgage (which we recommend) means stability! You will know what the payment will be and can plan for it. You will have a sense of pride and control over your life. You will have more privacy, (no one coming over to check and make sure you haven’t broken something, or violated the terms of the lease.)

Owning a home brings stability to your family & your community. Studies show higher graduation rates among children whose parents own their homes as well as more community involvement. Usually, you will even have more space to live in!

It is easier than ever to afford a home, and it is a buyer’s market in Florida. Are you ready to buy a Palm Harbor home? It depends on many factors. Ask yourself:

• Do I have an eight month emergency fund? Just having the down payment isn’t enough. An amount equal to 8 months of pay is essential to have in reserve for paying regular bills in an emergency. If your monthly expenses are $3,000 a month, you should have $24,000 in an emergency fund that you absolutely do not use unless it really is an emergency like being out of work or injured.
• Is my job secure and steady? Do you have marketable skills that will garner you steady employment if you lose your current job?
• Do I have good credit? Lending is still tight although interest rates are low. Good credit is a must at this time to get the best rates. Bad credit may mean you can not get a loan or at least not a good rate. (we have some great contacts in the mortgage industry who can help if you need to work on your credit score and most charge absolutely nothing for this service!)
• Can I pay 20 percent for a down payment? If not, start saving now! Financial experts recommend a 20 percent down payment. That means on a $150,000 house you’ll need $30,000 for a down payment. (now there are still programs like FHA and VA loans that can reduce the need for such a high down payment amount, but we do recommend that you have savings to pay something down, closing costs and all those incidentals that pop up when you buy a home!)

A couple of other things that we recommend when considering buying a Palm Harbor home are to have a list of must-haves and would-like to haves (no house is ever PERFECT, but we can get you darn close if you know what is important to you!). A pre-qualification letter from your bank (an good agent will ask for this so might as well get it out of the way up front). A good attitude (this is a biggie! I KNOW, it is a buyers market, but few sellers, including banks, will sell you a property for two cents on the dollar so it is best to know that you can get a great house or a rock bottom deal, but probably not both!)

Now you should be able to determine if you are ready to buy a home. Look at all the issues involved before making a decision. Remember, now is a great time to buy a house in Palm Harbor!! If you would like to find out more about the ins and outs of the Palm Harbor real estate market, give us a call today! 727-366-0324

Here are a few tips for how to pick good Palm Harbor Realtors. I KNOW, this can be a little self serving, because we are GREAT Palm Harbor Realtors, but in all sincerity, we have had to clean up the messes for clients after they have gotten some of the not so good variety and hope to help with some basic tips!

What do you look for and what do you ask? Here are a few tips for how to pick a good Realtor, and the first thing you may be thinking is where to look for a good one.

One of the best places to start is your friends and family. They will certainly tell you if they liked their real estate agent. Recommendation is by far the best way to find someone you can work well with. Ideally you want an agent who is both professional and aggressive. If your agent works in one of the larger companies have they won any sales awards and also look for recommendations from previous clients (any good Realtor worth their salt will have a real estate testimonials page with feedback from their past customers).

If you’re looking for a Realtor in the Palm Harbor area here’s a few questions you should be asking:

• Are they a licensed agent current with the local board (one clue to whether they are or are not is if they have a “lockbox key” or if they need the listing agent to accompany you on each showing)
• Do they have a track record in YOUR local area. We specialize in the Palm Harbor area and know the neighborhoods inside and out!
• How many closings have they had this year (either on the buyer or seller side)
• Are they a full time agent or do they have a “real job” on the side
• Do they have a team of buyers and sellers agents, closing coordinators and a trusted title company to refer you to

If you are a seller probably one of the best tips for how to pick a good realtor is communication, so ask your potential agent how do they plan to market and sell your house. Have them put all this in writing so you know exactly what they are going to be doing for you. The last thing you need is excuses and surprises further down the line. You want to know your house is going to be found, so it needs to be going into the premium listings and all the available websites. If you are not happy with the plan or it seems a little vague, then move on.

How long is the contract? Many agents will not ask you to sign a six month or one year contract. In the local Palm Harbor real estate market, selling a house can sometimes take that long and you DO NOT want to miss an opportunity to capitalize on a price reduction or updates because you change agents every few months. Do your research up front and find an agent who you think will be with you for the long haul (most experienced agents will require a longer contract).

Do not “sell” your listing to the highest bidder. There is a term in the real estate industry called “buying the listing”. Basically, this is where an agent promises that you will get a higher price for your house than the market can bear (for more on this check out our “special houses” post). The last thing you want in a declining market is to have an overpriced listing which leads me to (drumroll please…)

You want Palm Harbor Realtors who will tell you the truth and not sugar coat it! Being a professional Realtor is hard – we have had to have some serious, not so fun talks with our clients, BUT they have resulted in a sale, not a home lingering on the market and going down in price or a buyer missing their dream home because they wanted to try a lowball offer to “see what the seller will take”. We are SERIOUSLY focused on getting the best deal for our clients and will work like dogs to get you to the closing table!

If you would like to find out more about GREAT Palm Harbor Realtors – give us a call today! 727-366-0324

Keller Williams Palm Harbor Reatlors are once again sponsoring the annual Palm Harbor YMCA Kids’ Fishing challenge Saturday, May 14, 2011 at Palm Harbor’s Wall Springs Park.   My brave husband, Captain Matt Fishel, and our felllow Palm Harbor Realtor Captain Howard Metz, will be manning two of the docks again.  The fun begins at 8:00 AM (arrive at 8:00 if you want the 8:30 fish time) and runs until 1PM.    

The fish are conveienty placed (ahem!) early in the AM so there will be ample opporutnity for your little ones (12 and under) to catch a fish or two.   Enjoy a bounce house, a rock climbing wall, lunch, trophies for First Fish, Biggest Fish and Smallest Fish on each dock as well as overall event trophies.  Kids will fish for 45 minutes each, begining at 8:30, 9:30, 10:30 or 11:30AM. 

Tickets are a mere $15 and include a fishing rod and reel, tackle and tackle box, bait, t-shirt, lunch, arts, crafts, raffle ticket and everything else mentioned above.  All proceeds go to benefit the Greater Palm Harbor YMCA’s open Doors Financial Assistance Program – providing Y benefits to families that otherwise couldn’t afford it.  We love the YMCA and hope you consider sponsorship even if you aren’t able to attend.

Contact us, Julia and Matt Fishel here, or call us at 727-366-0325 and we’ll send you an entry/sponsorship form - which, by the way, can be faxed in.

As Keller Williams Palm Harbor Realtors, the #1 question we’re asked is “How’s the real estate market?”.   Below are the latest statistics and our ‘gut’ take on how the market actually feels to Palm Harbor Realtors with their feet on the street.  And this is a pic of our sign, which hasn’t been flapping in the breeze for too long lately! Let us explain …

Pinellas Real Estate Statistics March 2011

1. Homes ARE Selling Like Hotcakes!!!!   The absorbption rate, which is the number of homes that sell in a given month divided by the number for sale in the MLS, is at an all-time high of 13.4% for single family homes, up almost 2 points from this time last year, and up from 5.8% in 2008.  Same is true for condos which are at 12.2% up from 9.5% last year and 3.6% in 2008.
2. Homes ARE Selling Like Hotcakes!!!!   The months supply of inventory is down to 7 months.  This means there are less than 3 houses per buyer!
3. Homes ARE Selling Like Hotcakes!!!!  Pending sales are up 75% over 2010.
4. Distressed Homes ARE Selling Like Hotcakes!!!!  45% of the 663 of the 1,463 homes sold were short sales or foreclosures. 

So, is everything rosy?  Sellers, not so fast ….

Keller Williams Palm Harbor Realtors – A View of Tampa Bay from the Trenches

1. We can’t find houses for our buyers that aren’t beat to hell and back, won’t take months to close (if they close at all), or aren’t overpriced by Sellers not accepting the market realities.  We’re often one of many bidders (we were one of NINE !!! bidders on a St. Petersburg townhome a few weeks ago). 
2. Prices Are at an All Time Low.   Great news for buyers, pathetic news for sellers.   The Single Family 5-Year Tampa Bay Median Price Trend shows us this …. January 2006 = $220,000;  January 2010 = $130,000,  January 2011 = $100,000. 
3. Foreclosure “Shadow Inventory” is looming …  Many buyers say “bring it on” – we need more houses to see.  Many sellers refuse to believe it – despite NAR’s March report showing Florida has another 29 months before the shadow inventory will be gone.  

How do absorption rates and shadow invetory affect me?   That most often needs to be assessed on an individual, case-by-case basis.  

Contact Suncoast Partners at Keller Williams Palm Harbor for a quick assessment - which can often be done by e-mail, phone or in-person if you prefer.

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?!?!!!

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.

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.