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Lutz New Home Purchases Surge

Lutz New Home Purchases

Lutz New Home Purchases are increasing at a fast rate

New home purchases surge again with the reason possibly due to low-interest rates on mortgage loans and mild weather throughout the entire US.  The past winter has been one of the mildest on record with many areas receiving record high temperatures throughout the winter.  This has spurred people to get a jump on the spring market in the Tampa Bay area.  New home purchases surged 24% in February, kicking off the spring buying season, the February Mortgage Bankers Association Builder Application Survey revealed in their latest report.

Interestingly enough, a recent statistic says that the good times might not last forever.  The homeowner expectations and appraisal values become divided as the gap widens. This means that many homeowners are starting to believe their home is worth more than it actually is.  This can lead to many homes sitting on the market longer than they should and can possibly cause the seller to miss out on an opportune selling market.  Then they are eventually forced to sell it for a lower price in a lower market.  Pricing the home correctly with realistic expectations may be the single most important step in listing your home for sale.

The distance among appraisal and proprietor estimates widened for the first time in six months, quicken loans said in its contemporary month-to-month home price belief index and domestic value index for February. That is making it difficult to preserve up in present day rapid-paced housing marketplace

But, the upward thrust is still small, and the hope remains to a healthy degree. So for now, house owners maintain to list in a dealers market and the lutz new home costs are surging.

Whilst it is usually disappointing for owners to analyze they don’t have pretty the house fairness they predicted, the national hope continues to be within an ordinary variety. In an ever-converting real property market, domestic values differ and these modifications are most quick realized with the aid of appraisers who’re comparing nearby income every single day.

 

 

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Florida Foreclosure Pain

Florida Foreclosure

florida foreclosure

Florida Foreclosure activity is on the rise as Florida continues to have one of the highest rates of foreclosures in the nation. California and Nevada round out the top three and foreclosures were reported as increasing 32 percent from last year.

This means that more bank reports are on the way and depreciation of Florida real estate values will continue.

The bottom is still a long way off, and investors should be patient, consider cash flow and ask “what if this property depreciates 3% per year for the next ten years?”.  Florida Foreclosure pain continues.

This statement is worth noting “In Florida, one in every 135 households received a filing in April.”

From Wikipedia, a Florida Foreclosure is a legal process in which a lender attempts to recover the balance of a loan from a borrower, who has stopped making payments to the lender, by forcing the sale of the asset used as the collateral for the loan.

Formally, a mortgage lender (mortgagee), or another lienholder, obtains a termination of a mortgage borrower (mortgagor)’s equitable right of redemption, either by court order or by operation of law (after following a specific statutory procedure).[2]

The 2010 United States foreclosure crisis, sometimes referred to as Foreclosure-gate or Foreclosuregate,[1][2] is an ongoing and unresolved issue in the United States and refers to an apparently widespread epidemic of improper foreclosures initiated by large banks and other lenders. The foreclosure crisis was extensively covered by news outlets beginning in October 2010, and several large banks, including Bank of America, JP Morgan, Wells Fargo, and Citigroup temporarily responded by halting their foreclosure proceedings in some or all states.[3][4] The foreclosure crisis has caused significant investor fear in the U.S.[5] A 2014 study published in the American Journal of Public Health links the foreclosure crisis with an increase in suicide rates.[6]

One out of every 248 households in the United States received a foreclosure notice in September 2012, according to RealtyTrac. [7] [8]

Relevé Property Management – Lakewood Ranch, Bradenton & Sarasota

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Sarasota and Tampa are Top Turnaround Towns

sarasota and tampa
9. SarasotaBradenton, FL ranks #9 in at the realtor.Com top turnaround town report for the primary area 2012 and one of seven cities in the sunshine kingdom to take a pinnacle ten spot at the list. March domestic sales inside the region had been up 23.7% as compared to February, and just slight underneath march 2011 tiers, dipping -1.4%. Median list expenses had been up 12.56% in Sarasota-Bradenton for the primary zone 2012 in comparison to the equal length final yr, and on the market stock is down -27.Sixty-nine% from a yr in the past. Even as symptoms in Sarasota-Bradenton are high quality, the market remains fragile with an unemployment rate of 9.2% and a preferred foreclosures rate in Sarasota county of one in each 353, each better than their respective countrywide averages.

Sarasota-Bradenton seemed on the realtor.Com top turnaround city document: q3 2011 (6); this autumn 2011 (five).

What to peer in Sarasota: the southwestern coastal town is bordered by means of several barrier islands before land meets the gulf of Mexico. It’s now not all golf publications and gardens, even though. Sarasota also has many cultural attractions to enjoy: musical, dance, inventive and theatrical venues.

10. Tampa-st. Petersburg-clearwater, FL rounds out the top 10 spots on the realtor.Com turnaround metropolis listing. Current enhancements in key metrics were surprising, mirroring the turnaround underway in different Florida foreclosure centers. Distressed mortgages peaked remaining September at sixteen.Three% in Tampa, and remained consistent at that level. Countrywide charges declined from a high of 7.Nine% in February 2010 to six.7% these days. Even though the proportion of distressed mortgages has been appreciably higher in Tampa than the country ordinary, data suggests the foreclosure fee considering the fact that April 2009 isn’t any better than the countrywide degree. While the housing marketplace inside the metropolis of champions remains fragile with deeply discounted foreclosed properties, low assets values and many severely underwater mortgages, the q1 2012 statistics from realtor.Com suggests median list costs are up eleven.Ninety-two% and the market moved 20.34% quicker as compared to the identical time remaining yr.

Noteworthy approximately Tampa: the western Florida metropolis on the gulf of Mexico has been tapped to host the 2012 republican countrywide convention. Delegates will revel in the plethora of golf courses, museums and purchasing the metropolis gives. Plus, don’t forget about Busch gardens Tampa bay, which turned into originally an admission-free hospitality merchandising of Tampa’s Anheuser-Busch brewery.

For expert property management Relevé Real Estate and Property Mangement for a unfastened consultation these days.

lutz home buyers
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Mistakes that Lose Potential Lutz Home Buyers

lutz home buyers

Prior to advertising your own home, you want to go searching for some things that might be particularly discouraging to potential lutz home buyers. They will really be evaluating many homes and could conveniently push yours aside with the slightest provocation. You want to be aware of some matters that turn off potential customers.

Things that turn off potential residence consumers:

1. Carpet over hardwood floors

Many people really like hardwood floors, they upload a top-notch design element to your house. They’re also very easy to smooth and don’t maintain dust like carpets do. Many sellers make the error of masking up their hardwood flooring and opting to display carpet. Make certain you show off your gleaming hardwood floors and go away the customer to determine in the event that they want then blanketed or not.

2. The usage of a bedroom for other functions

All domestic buyers are interested in the quantity of bedrooms the house they intend to buy has. If you converted a bedroom into something like a domestic office, it is advisable to revert it back earlier than you positioned the residence on sale. The purchaser won’t locate the home workplace as beneficial as you determined it. Not handiest does it impact a customer’s capability to visualise a dwelling area however workplace is often a supply of clutter.

3. Turning your kid’s room right into a miniature theme park

On the grounds that kids are very innovative and unfastened spirited, many dad and mom turn their bedrooms into something that resembles a Disneyland journey. This turns off consumers as they may have teenage kids who do now not require all of the first rate decorations. Let the brand new residence owner have the opportunity to determine what to do with every of the bedrooms. As always when making ready to promote your home, less is greater… Stuff, that is.

4. Grimy dishes in the sink

Residence buyers are very touchy about how you have been looking after your home before they purchase it. They need to see the residence at its satisfactory so please be sure your kitchen is as clean as it may in all likelihood be. A grimy sink continually sends the wrong impact and is enormously commonplace. In case you are caught up in a dirty kitchen, it is clever to keep off the purchase till you tidy it up.

5. Make consumers take off their shoes

It isn’t rude to ask buyers to put off their footwear when getting into your home, mainly if it’s raining and also you’ve scheduled a large variety of showings in at some point. That’s a variety of foot traffic! However, they are probably getting rid of via the request. Don’t forget to leave old towels at the flooring close to the front & again doors — or ask your realtor to offer a supply of disposable booties in your viewers to place on over their shoes.

6. Puppy toys laying around the house

If you have a pet then ensure everything like dog food and pet toys are saved away nicely. Having dog toys laying around in random rooms within the house won’t be the as appealing to a lutz home buyers who isn’t as pet pleasant as you’re.

7. Having a family room in the storage

Just because you made a decision to apply the storage as an extra sport/family room doesn’t always suggest your customer wants the same setup. Ensure in case you’ve modified your garage installation in any manner you revert it again to a primary storage (ideally and not using a litter) so one can visualize what they would like to do with it. In case you’re the usage of your storage as a garage for the greater gadgets you’ve removed from internal, simply shop matters as smartly and compactly as feasible.

Eight. An above-ground pool

An above-ground pool in the backyard of the house is not an excellent concept. In case you cannot have the funds for a right pool and are tempted to installation an above the ground pool, you need to dismantle it lengthily before placing your private home on sale. If the pool leaves in the back of a dead spot of grass inside the outside, you will fumble final minute trying to cover it. If you have an above floor pool and you understand you’ll be putting your private home in the marketplace in the close to future then take the pool down properly before you placed your private home up on the market. This will provide your backyard lots of time to get better and with any luck keep your grass searching inexperienced for the showings.

Nine. Light fixtures

It is true that a stunning chandelier can boom the depth of your room and may be an actual focal point mainly if it is placed in a formal dining room. It may if it’s far brilliant ornate and custom, make a contribution to turning off a potential purchaser. If you have a unique, special, critical-to-you-but-now not-stylish mild fixture, it’s far critical that you put off it (and replace with an extra appropriate one) earlier than placing your private home on sale. This manner you could preserve from clashing stylistically with any capability shoppers, as well as defend the fixture you love.

Consult your realtor for more recommendations on putting off items in and around your house that could flip off your capacity consumer.

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Home Selling – A Checklist of Things You Need to Do

Home Selling

Before you put your house up for sale, it is essential that you prepare your home to make it as appealing as possible. First and foremost, setting the right sales price from the start will ensure your house is considered by the largest pool of buyers from the date that it is listed. If your house is priced too high many buyers and real estate agents will simply remove it from consideration. Assuming your house is priced correctly, the following tips will help you attract buyers so you can sell your house as fast as possible.

Marketing and Advertising – Even if your house is priced below market and it is the most beautiful house on the street, you have to make sure homebuyers know it is for sale. Make sure your real estate agent has listed your house on all the major real estate search engines. These sites should include: Realtor.com, Zillow, Facebook, and any other real estate sites that are used in your area. Social media is used by nearly every home buyer. Once your house is listed, view your listing online and make sure there are numerous photos of your property. Many homebuyers use the Internet to search potential houses by price and then they look at photos. If the photos of your house are not in the best possible light, you could be losing potential homebuyers.

Curb Appeal – Since you’ve pulled in potential homebuyers to see your property, you have to make the outside of your property as engaging as could reasonably be expected.Make sure the grass is cut, the weeds are pulled, the bushes are trimmed, and flowers are planted. If anything is damaged in the front of your house, such as siding, downspouts, windows, the front door, or mailbox, they should be addressed before listing your property.

Update the Interior – When potential buyers walk into your property, the entrance way and the main rooms of the house should be clean and inviting. You can paint rooms a neutral color, update flooring, and updated fixtures. You don’t have to spend a lot of money; average quality updates should be fine for most homebuyers. Brighten up rooms by opening the drapes and using higher wattage light bulbs. This will make the rooms look greater and brighter. Additionally, search for glaring issues in your house. These might be as minor as electrical outlet covers, lighting apparatuses, and register covers. Including an alert framework ought to additionally be considered.These updates may be very minor, but may change the appearance and allure of your house to potential buyers.

De-clutter and Clean – Take time to remove personal items and clutter from the house. Thoroughly vacuum and clean each room to make them in as inviting and appealing as possible. If possible, hire a cleaning service to do a deep cleaning prior to showing the house.

Board Your Animals – If possible, board your dog or cat prior to listing your house. This will allow your house to be shown at any time and will eliminate potential smells and odors that a cat box or dog may leave lingering on the property. Potential homebuyers will be rushed and turned off if your dog is locked in a room barking wildly while they are viewing your property.

Provide Positive Information – Leave positive information on the kitchen table for potential buyers and realtors who view your property. This information should include nearby dining, shopping, attractions, and recreation. Also, if the school system is highly rated, make sure information regarding the school district is provided. This information could be the difference between an offer on your house instead of another property.

Effectively promoting and improving the appearance of your house will not only result in a higher sales price but most likely a quicker sale. Continuously ensure before tolerating any offer that the purchaser is pre-endorsed. The exact opposite thing you will need to do is to take your home off of the business sector for a potential purchaser who may not meet all requirements for an advance. Continuously solicit to see a duplicate from any potential homebuyers’ pre-endorsement letter to confirm their capacity to acquire contract financing. An expert stager will take a gander at your home from a crisp and unemotional point of view. They have been prepared to see your home as an item, highlighting resources and making light of imperfections. By utilizing a mix of your furniture and accessories, adding new accents to update the look, and strategically incorporating a few “designer tricks-of-the-trade”, a stager is able to create the model home WOW effect . . . while appealing to your target market.

Home staging focuses on fast, dramatic and affordable transformations to ensure that your home will be the one remembered from the real estate tour. Once staged, the house will be “showcase ready”, which will also make it “photo ready”! Since 85% of home buyers are using the internet to determine which homes to even visit, photos of professionally staged rooms will set the listing apart from the rest.

Finally, home staging has been proven to be an affordable investment which reaps a large return on dollars spent . . . an investment few sellers can afford not to make in today’s highly competitive real estate market. And remember, staging almost always costs less than your first price reduction.

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It’s Not You, It’s Not Your Home, It’s Your Real Estate Agent

pile of cash

See this pile of cash? It doesn’t belong to you and you know why? Your realtor is being unrealistic and greedy about your property.

We have a client who is interested in a townhome in a particular area. We have one in this neighborhood and know without a doubt the competition is over-priced. Rentals sit 6-months, 8-months, 1-year or longer vacant. Why? Your rental is over-priced. Period.

I called a realtor to ask about a rental that has been listed and vacant for 6 months to see if the owner was flexible in the price. I told her that I had a great client interested in the home, but wanted to pay a more reasonable rent for the unit. With disgust, I was told that the building covered all utilities which was included in the rent. I told her I knew that was not true because we have the exact same property in the neighborhood. Well not the same. Our is updated and upgraded. She then back-peddled and said well the owner wants to rent it furnished only. On the MLS listing, it states “furnished, but will consider unfurnished.” So the ad was misleading or the realtor was a liar.

I asked again about the price. I stated about the home being listed for 6 months and sitting vacant. Is the owner flexible? Again, I was given the run-around. Never once did she say she would present an offer to the owner.

Can this realtor read minds? I can’t. As property managers, we present all offers to owners. Ultimately the decision lies with you, the owner. You should decide whether to reject or accept an offer. Not a realtor.

I believe putting the owner in the driver-seat is what gives us so many happy clients and great reviews.

I never asked what the commission would be on the property. I never wanted a commission. I wanted to find a home that met my client’s needs.

Did this realtor ever stop and think, “my client has been losing thousands of dollars because his home is sitting vacant?” No. She heard reduced price, saw her commission drop and never consulted the owner. Would the owner accept a lower offer? We will never know because he will never be asked.

My client never saw the property or put an offer in. Why? A realtor discouraged an amazing tenant from a property that needed a renter.

So, this pile of cash continues to sit untouched.

For honest, reliable property management in Pasco, Hillsborough, Manatee and Sarasota counties, Florida, We Manage Your Investment.

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Tampa Investment Property Returns

Tampa Investment Property Returns

Tampa Investment Property Returns

During the peak of the housing boom in 2004-2006, many investors were diving into properties that they knew would not generate a positive cash flow.  Taking a monthly loss on a property was no big deal when they could sell the property three months later and make $30K. The few flippers’ who timed the market right, made a killing, and the rest got killed.

When you buy a property today, it is important to calculate your Tampa Investment Property Returns. You are not building equity only through appreciation, and the property values are going down faster than you can pay the mortgage principal balance. The tough lesson learned from the housing bust is that the cash flow analysis should be the determining factor in purchasing real estate.  The analysis tells you if the property will generate income for you (asset) or cost you money (liability).

If you want to be a real estate investor, you must focus on acquiring assets that generate a passive income.   If you are making money each month, then it does not really matter if the market goes up or down.

In Rich Dad, Poor Dad, Robert Kiyosaki tells the story of when he wanted to buy his first rental property. His ‘rich’ dad refused to invest with him because the property did not generate at least $100 per month of income.  Kiyosaki thought that the property was a good buy because he could eventually raise the rent, the property would appreciate, or other factors would work in his favor, but his ‘rich’ dad knew better.  He knew that things do not always work out the way you plan them and that you make your money when you buy a property, not when you sell.

As a beginning real estate investor, I told my real estate agent that I would not buy anything that did not generate at least $100 in monthly cash flow, but would buy anything that would.  We were able to find 3 properties where the numbers worked out, and I was soon generating a passive income.  When the properties doubled in value two years later, it was a good bonus, now that they have gone back to the value that I originally bought them for, they are still a good investment and continue to generate income.

It is essential that you do a cash flow analysis of any property you are going to buy.  Make sure you talk to a rental manager to determine what the rental rate is for the property and what they think it will be in the future. Factor in EVERY COST of owning the property: mortgage, taxes, insurance, mortgage insurance, flood insurance, homeowners association dues, maintenance, vacancy, for rent advertising, property management fees, and unexpected emergencies. If you are still generating, at least, $100 per month, then go for it.

Wounds in real estate are usually deep and take a long time to heal.  But if you learn from your mistakes, it can become the valuable experience that will make you a savvy investor.

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Florida leads House Flipping

Florida leads House Flipping

Recent Data from RealtyTrac shows an increase in year over year house flipping.  This is when an investor buys a property and then sells it less than one year later.  The investor usually has to do at least some cosmetic improvements and is likely to make a profit from the sale.

With the increase in flipping, Florida cities dominate the list of the top areas for home flipping.  Florida had record numbers of foreclosures and houses are still not keeping up with demand, so the statistics make sense that there would be an increase.  However, house flipping also reached a peak right before housing crashed in 2008-2009.  Many investors took substantial losses on speculative home flips.

However, house flipping also reached a peak right before housing crashed in 2008-2009.  Many investors took substantial losses on speculative home flips. The current list is showing 25- 50% year over year increases in home flipping in these cities.   To be successful in house flipping, you need to do an effective analysis on what the costs will be for you to purchase, renovate and hold the property and then know what the market will support for a sales price.  Generally a real estate investor is expecting to make at least 25% profit before they take on a house flipping venture.

Before investing you should talk to a local, Lutz, FL real estate and property management company to advise you on purchasing, managing and selling your investment property.

Here are the Florida cities mentioned in the list.

17. North Port-Sarasota-Bradenton, Florida

 15. Palm Bay-Melbourne-Titusville, Florida

14. Crestview-Fort Walton Beach-Destin, Florida

11. Pensacola-Ferry Pass-Brent, Florida

9. Deltona-Daytona Beach-Ormond Beach, Florida

8. Ocala, Florida

4. Homosassa Springs, Florida

3. Jacksonville, Florida

1. Lakeland-Winter Haven, Florida

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5 Reasons to Hire a Property Manager

Hire a Property Manager.  The top 5 reasons on why a professional property management company will benefit you.

Hire a Property Manager

1. Rent Collection and Depositing – not getting the rent check just one month can kill your return on investment. Having to constantly remind tenants that their rent is due or late can be a real pain. A good property manager will have systems in place to effectively collect rent online, charge late fees and maintain on-time payments, notices and evictions.

2. Rates for Rent – A good property management company knows the area they are managing. They know how much your property can be rented for and can keep the vacancy rates and advertising costs as low as possible.

3. Securing Tenants– finding good tenants can be very time-consuming. A property manager can take care of securing all background checks, credit reports, employment verification, and verifications of rent and showing the property. By hiring a property manager, you will not have to deal with tenant disputes, conflict resolution and emergency maintenance.

4. Professional Network. Property managers develop relationships with professionals in related fields, such as maintenance workers, tradesmen, vendors, suppliers and contractors that you do not have. Because of the bulk of business that a property manager gives these professionals, they can provide quality work at a discount.

5. Time – Enjoying your life while just having the rents deposited into your bank account is probably why you got into real estate investing. Real estate income is not passive if you are spending all your time maintaining the property, handling tenants and keeping the books. A Property Manager is an investment, not an expense, you want to own your own time.

Contact Relevé Real Estate for full-service property management in Lutz, Land O’ Lakes and Odessa, Florida.

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Tampa Bay Living

tampa bay living

Tampa Bay Living, these are neighborhoods laid out in the more traditional sense. I will speak about some of them. South

South Tampa has historic homes, townhouses, condos, and luxury lofts. Everything from festivals to live music and an active night life.

Ybor City. Ybor has “modern and renovated condos, townhouses, and lofts.” Ybor also has restaurants’ and shopping. Looking for the business district? Downtown Tampa is your place. It offers lofts and high rises for places to live in, and with places of interest to see, like the children’s museum. If you want suburban/residential, then you like these areas, New Tampa has lots of ranch style houses and “family friendly neighborhoods” Brandon is a “Typical suburban community” and it has “everything from apartments to homes.”

If you want suburban/residential, then you like these areas, New Tampa has lots of ranch style houses and “family friendly neighborhoods” Brandon is a “Typical suburban community” and it has “everything from apartments to homes.”

Brandon is a “Typical suburban community” and it has “everything from apartments to homes.” It’s like any place, depending where you live will depend on how quiet the community is, or if you are near restaurants, shopping, and bars.” Lithia/Fishhawk Ranch “offers condos, townhouses, ranch-style, and new-bungalow style housing in basically all price ranges, and is a very family oriented community.” It along “

Lithia/Fishhawk Ranch “offers condos, townhouses, ranch-style, and new bungalow style housing in basically all price ranges, and is a very family oriented community.” It a long drive to the hot spots like South Tampa, Ybor, and Channelside.” Finally there is Plant city.

Plant city is known for peace and quiet because the houses are further apart. Which place or neighborhood would you choose from each city?