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Market Statistics

Land O’ Lakes Foreclosures 150 150 Relevé Real Estate

Land O’ Lakes Foreclosures

 

Land O’ Lakes Foreclosures

Land O' Lakes ForeclosuresWhen you have record numbers of foreclosures like the United States has had over the last few years, you get record numbers of renters.

The most amount of people in history have been losing their homes to foreclosure when this happens the person:

A. Doesn’t have a place to live

B. Has bad credit

C. Can’t qualify for another mortgage

So where do these people go?  Some may have to move in with family, but the majority will be looking for a place to rent.

This means that there are currently a record number of people that are interested in renting a property.  This is good news for our property management company since it makes finding tenants very easy.

In some recent cases, we have had people bidding up properties over the advertised rental price.  Once properties are rented, we continue to get tons of phone calls and emails from people trying to find a place or see if we have anything similar.

Owners who can capitalize on this opportunity can increase their cashflow and limit vacancies on their properties.

For expert property management in Land O’ Lakes, Florida, contact Relevé Real Estate and Property Management.

2016 real estate market
2016 Real Estate Market 640 480 Relevé Real Estate

2016 Real Estate Market

2016 real estate market

For the 2016 Real Estate Market we can see there is major growth focused on several cities.

These are the top real estate markets for 2016.  These are according to the Realtor.com list of hottest real estate markets.  Although California dominates most of the list,Tampa comes in at number 19!
20. Fort Wayne, Indiana

19. Tampa, Florida

18. Santa Cruz, California

17. Midland, Texas

16. Detroit, Michigan

15. Modesto, California

14. Yuba City, California

13. Palm Bay, Florida

12. Oxnard, California

11. Santa Rosa, California

10. Los Angeles, California

9. Denver, Colorado

8. Stockton, California

7. Nashville, Tennessee

6. Sacramento, California

5. San Diego, California

4. Vallejo, California

3. Dallas, Texas

2. San Jose, California

1. San Francisco, California

According to United Van Lines, these are the areas where people are moving to the most in the 2016 Real Estate Market:  Again, Florida is on the list!  No Snow and no state income tax continue to bring in more people.

  1. Oregon
  2. South Carolina
  3. Vermont
  4. Idaho
  5. North Carolina
  6. Florida
  7. Nevada
  8. District of Columbia
  9. Texas
  10. Washington

with these being the real estate markets people are moving out of:

  1. New Jersey
  2. New York
  3. Illinois
  4. Connecticut
  5. Ohio
  6. Kansas
  7. Massachusetts
  8. West Virginia
  9. Mississippi
  10. Maryland

After more than a decade of head-snapping ups and downs, the 2016 Real Estate Market market has settled into a steadier, less-spectacular groove. In 2015, home prices nationally rose 4%, following a 6.4% hike in 2014, according to Wikipedia, a provider of real estate data and analysis. Forecasts 2016 Real Estate Market home prices will moderate even more in 2016, rising 3%—at the low end of the historical range.

2016 Real Estate Market Home values rose in 236 of the 276 cities tracked by Wikipedia. In most parts of the U.S., prices are still regaining ground lost in the bust; they remain nearly 19% below their peak, on average. Over the past year, prices rose by double digits in a few dozen cities, many of them clustered in areas that were hard-hit and where homes are still relatively cheap, such as Florida, Michigan, Nevada and California’s Central Valley.

Real Estate Wins in Tampa Bay 150 150 Relevé Real Estate

Real Estate Wins in Tampa Bay

Real Estate Wins

Real Estate Wins

So you have $100K.  What do you do with it?

You could put it in a money market savings account with an average return of 0.30% APY.  After one year you will have earned $300.

You could put it on a CD with an average return of 0.50% APY.  After one year you will have earned $500.

For an IRA, you are still looking at 0.50% APY.  After one year you will have earned $500, but withdraw it early and you will be taxed heavily.

You could buy gold as the commercials will tell you, but gold has doubled in price over the last 2 years and this isn’t 2009.

You could give it to your broker to invest, but the stock market is turbulent and if you are getting a 4-5% return, you are doing better than 95% of investors.  After a great year in the stock market, you will have earned $4,000 – $5,000.

But if you take your $100K and buy a bank owned property.  Let’s say you find a 3 bedroom house in a decent neighborhood and negotiate with the bank for $90K.  You spend another $10K on closing costs and fixing the place up.  You can then rent it for $1200 per month.  In this example, you don’t have a mortgage, since you had $100K to start with, so you only pay taxes and homeowner’s insurance.  Say your taxes for the $90K home are $2000 per year and insurance is $1000 per year.  Your monthly expenses are $250 per month.  Your gross income is $1200.  Your net income is $950.  After one year you will have earned $11,400 for an 11% return on your $100K.  Where else are you going to get that kind of return?

Real Estate also has the advantage of tax breaks through paying a mortgage or deducting expenses on the property.  Appreciation is a thing of the past, but if you buy under market conditions and have the cash flow to hold it for 10 or more years, you will make money when you sell it.

Even in the Great Recession, Real Estate still wins.

For expert property management and real estate services in Tampa, Lutz and Land O’ Lakes, Florida, contact Relevé Real Estate and Property Management

Tampa Investment Property Returns 150 150 Relevé Real Estate

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.

Tampa Real Estate Headlines 150 150 Relevé Real Estate

Tampa Real Estate Headlines

Tampa Real Estate Headlines

The Tampa, Florida real estate market is leading many headlines:

Orlando, Florida is the 3rd Hottest Housing Market.

Florida

With oil expenses at nearly $30 a barrel, Disney international-bound tourists are assisting within the town’s growth. Orlando’s employment is up three.8% over the last year. Orlando’s home prices grew eleven.2%, at the same time as domestic sales growth expanded eight.9%. Orlando’s populace grew 2.2% in 2014, the third most powerful growth most of the pinnacle 50 u.S. Markets, providing robust help for housing demand and boosting the single-circle of relatives market.

Florida is one of the states with the highest share of flips in 2015 at 8% of all home sales.

Sarasota and Bradenton, Florida are ranking high for surveys on health and happiness.  With 2 of the top 5 places for well-being.

  1. Naples–Immokalee–Marco Island, FL
  2. Salinas, CA
  3. North Port–Sarasota–Bradenton, FL
  4. Fort Collins, CO
  5. Barnstable Town, MA

Over 50% of purchases in Florida are cash sales.  This statistic is now declining year over year.  

Rising rents motivating people to purchase homes.

Tampa, Florida is number 20 in the hottest housing markets for the spring homebuying season

Florida single-family home prices up 14% over last year, But state sees decline in sales of lower-value homes

Tampa ranks tenth in the list of the top 10 single-family rental investment market.  10. Tampa 5.9%

 

avoid a property manager
5 Reasons to Avoid a Property Manager 1024 768 Relevé Real Estate

5 Reasons to Avoid a Property Manager

The life of a real estate investor is about creating a passive income and stream and achieving financial independence. If you are managing your own real estate portfolio, you have just created a job for yourself.

When purchasing an investment property, you should factor in an 8-10% monthly management fee, as well as room for unexpected maintenance. Having a great property manager is a sound investment in achieving your goals and owning your time. Although, hiring a bad property manager, can make things very bad, very fast. To help protect your goals and your investment, avoid these property management red flags:

1. No References

Property Management has traditionally been a referral-based business and the manager should have strong relationships within the local community. They should be able to provide references from tenants, owners, local organizations or vendors.

2. Unavailable

A property manager’s responsibilities are 24/7. There are problems that will arise at your property on nights, weekends and holidays that will need attention. Make sure your property manager approaches their services this way.

3. Conduct

The property manager should be able to convey confidence in the value of his services and be professional. If the manager is not professional with you, they probably will not be with your tenants and vendors.

4. Successful Experience

Rather than having many years of experience, look at the amount of successful experience a property manager has. They should be able to give examples of their processes and how they are going to deliver the services they promised. It is important that they can change rapidly with the rental markets, technology and regulations.

5. Sales Pressure

If a property manager is forcing you into making a quick decision or seems desperate for your business, these are signs of running. A good property manager will give you time to collect references, get quotes from competitors and will work with you to determine if the relationship is a good fit.

homepath
Homepath Properties Get Money for Renovations 1024 776 Relevé Real Estate

Homepath Properties Get Money for Renovations

Homepath Properties are available throughout Tampa Bay.

Homepath homes are properties owned by Fannie Mae and available for purchase.  The program is interesting because you can borrow money for the purchase and renovations.

The program is to meant to help people purchase homes at an affordable price.  This creates a win-win as the new owners will improve otherwise vacant properties.  Owner occupying purchasers will have the money to fix them up.  The costs for the renovations will be rolled into their monthly mortgage payment. There is a high supply of homes foreclosed on and sitting vacant for many years.  These homes usually just need some TLC to be back to excellent condition.

The Homepath loan can be a great way to buy the right house in the right area and then be able to fix it up and customize it to how you want. The loans are for the purchase of Fannie Mae real estate-owned. If you qualify, you can get a 30-year fixed mortgage of around 3.5 percent. Only 3 percent down is needed and they will also finance up to $25k in renovations. There is also no mortgage insurance.

The program is great for first-time buyers or owner-occupied borrowers looking to find a great deal on a home they can fix up and own long term.  Keep in mind the offer price plus the renovations costs usually end up being around fair market value, so do not go in expecting to get a huge discount.

You can go directly to the Fannie Mae homepath page and search available properties near you.

You would still want to use a buyer agent from your local brokerage to help you with your homepath home purchase.  They will help you navigate the purchase and get the best deal possible.

Choosing a Tampa Bay Realtor 1024 683 Relevé Real Estate

Choosing a Tampa Bay Realtor

Local Experience, marketing, negotiation and excellent customer service are crucial factors in deciding who will be your Tampa Bay Realtor.

Deciding on the wrong agent could end up costing you thousands on the transaction, so vetting agents up front before hiring them to list your Tampa Bay home for sale is important.

1. Local – You will need someone that is local and can be on location for marketing, showings and inspections. A local brokerage will also help to support local business, rather than corporate franchise conglomerates. Another benefit is to look if the brokerage is providing local jobs, using local vendors and donating to local charities.

2. Marketing – Find out how the agency is showing up online and how their reviews are. Look at how they are promoting their current listings. How do their listings look? Is the photography good? Is it promoted on social media?

3. Negotiations – How does the agent negotiate with you on your terms? This is a tell of how the negotiation will go with your buyer on the transaction. Qualify them by asking about how they handle offers, counter offers, inspection repairs, etc. This will help you to determine if they are a savvy, experienced negotiator or someone you would not want to do business with.

4. Customer Service – Get a feel for the type of customer service you will receive. Are they easy to get a hold of? Do they use your preferred communication type? Do they follow up? You will need an agent that us looking out for your best interests when listing your Tampa Bay home for sale.

towns
Towns throughout the Tampa Bay Area 1024 675 Relevé Real Estate

Towns throughout the Tampa Bay Area

The Tampa Bay area is geographically spread out from down to the Ruskin area all the way to Clearwater and St Petersburg.  There are tons of ‘towns’ throughout, each with its own individual character.  Here are some quick snapshots of some towns in Tampa Bay.

First of all, South Tampa has historic homes, townhouses, condos, and luxury lofts. Everything from festivals to live music and an active nightlife.

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.

North Tampa is filled with development and new construction homes.  Retail is starting to fill in the areas along the State Road 54 corridor.  Towns like Trinity, Land O’ Lakes and Lutz are seeing explosive growth.

Similarly, 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.” It’s like any place, depending on 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 is 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 town?

Property Management Lakewood Ranch Perspective 150 150 Relevé Real Estate

Property Management Lakewood Ranch Perspective

Outlook for Property Management Lakewood Ranch Services considering rental rates, population growth and development. Property Management Lakewood Ranch

East of I-75, in the 34202 zip code, is the master-planned community of Property Management Lakewood Ranch.  Lakewood Ranch offers a variety of different properties and amenities to suit any lifestyle.

The neighborhoods of Greenbrook, Summerfield, The Lake Club, Lakewood Ranch Country Club and Riverwalk are connected by the trademark of Property Management Lakewood Ranch, miles and miles of nature trails.  For active residents, Lakewood Ranch offers several outdoor activities including golf, tennis, polo and cricket.

Other community features include parks with picnic areas, children’s sports fields, lakes, conservation areas and impressive landscaping. Contributing to a desirable area for Property Management Lakewood Ranch.

Lakewood Ranch is very desirable. It is located in close proximity to shopping, entertainment and dining.  Inside of the Lakewood Ranch community lies the Town Center offering a variety of shops and restaurants, Publix, YMCA, Lakewood Ranch Medical Center and Lakewood Ranch High School.

For the prospective investor, there are a variety of residential properties to choose from.  It is best to contact a Property Management Lakewood Ranch for pre-purchase consulting and specific rental rates.

History of Lakewood Ranch from Wikipedia.

Lakewood Ranch is located within the Manatee County region in Florida. Manatee County covers almost 900 so mi (2,300 km2) including waterways, which provided transportation. Railroads, bridges, and roadways were later added for easier access in and out of the area.

Along with transportation, development came a rapid growth in population during the early 1920s.

The first neighborhood development, Summerfield, went up in 1995. As the area expanded and population increased, a master-planned community was created called Lakewood Ranch.

Started in 1995, Lakewood Ranch has an 8,500-acre (3,400 ha) master-planned community within it, consisting of seven villages.

For expert property management in Lakewood Ranch, contact Relevé Real Estate and Property Management.

Basic Qualifications
Basic Qualifications for a Property Management Company 1024 683 Relevé Real Estate

Basic Qualifications for a Property Management Company

1. Experience

Signing up with a startup property management company in Tampa might give you some savings due to lower fees. However, that doesn’t secure the basic qualifications for quality service and outstanding management. Remember that at the end of the day, the occupancy and rental rate will still determine your earnings. You cannot do that with a company that is still starting to build a network. Because the service also includes operations and maintenance of your property, it is not wise to gamble with a company in a trial-and-error period.

Choose a property management Tampa company that has, at least, three years of operation and a sufficient client portfolio.

2. Coverage

A property management Tampa company with wide area coverage also gives a longer list of possible tenants, including people who want to move from surrounding towns. It is better if you can pick a company with existing coverage in Hillsborough County, Manatee County, Pinellas County, and Pasco County as well.

3. Management Rates

A property owner wants to have his/her investment property managed for one thing – to earn from it. If a large part of that sum will just go straight to the realty company, you might need some time to think again. Make sure the contract is meeting the basic qualifications for terms, charges, and fees.

There are three basic charges applied by many Tampa Florida property management companies which you need to understand.

First is the leasing fee. Many national and multimillion realty companies commonly charge a full 100% of the monthly rental fee on top of other fees. That is more than 8% of the total earnings you should receive for the whole year.

Second is the management fee. This pertains to the overall management cost the company gains for taking care of your property. The typical charge is anywhere from 15% to 20% of the monthly rental rate for all months that they will include your property in their management.

If your monthly rental fee is $1500, the management fee for the whole year is a whopping $2700 to $3600.

Last is the junk fee. This can include anything from whatever services the company is doing for your property. It can be an overhead charge, a processing and set-up fee, a marketing fee for all advertising and marketing efforts, and a renewal fee whenever there is a new tenant. These are unnecessary charges that you do not really have to pay should you choose the right company.

The good news is, there are local yet stable and trustworthy property management Tampa FL companies with the basic qualifications that have lower leasing fees, lower monthly fees, and no junk fees at all.

Non-Accredited investors in Tampa Real Estate Investing 1024 687 Relevé Real Estate

Non-Accredited investors in Tampa Real Estate Investing

Crowdsourcing real estate deals for Tampa Real Estate Investing is now beginning on a smaller investment scale. In some cases, with as little as $100, a resident of a particular state may become a real estate investor. The SEC just voted on and passed rules to implement Title III of the JOBS Act, bringing non-accredited investors into the fold for equity crowdfunding.

Prior to the bill, you used to have a net worth of over $1,000,000 in assets or have an income of at least $200,000 per year. The new ACT lowers the barriers to entry and gives more people ACCESS to real estate investment deals for Tampa Real Estate Investing.

Web sites are beginning to pop up where you could sign up for an account, and invest in ‘shares’ of an investment property. You would technically own a part of the property in Tampa Real Estate Investing and would be due part of the return on the investment. Investing in real estate this way has a lot of upside including high leverage, high return on capital, investment collateral and a relatively safe investment.

However, downside risk comes from market fluctuations and lack of liquidity in case you wanted to sell your investment. In other words, if the market dived and you wanted to get out of your investment, you might not be able to.

The biggest risk might actually be the reputability of the real estate agency you are using. As there is a potential for fraud in your Tampa Real Estate Investing.

Work with a professional Tampa Florida realtor and then find an expert property management Tampa company to manage the property for you.

One example from Wikipedia is Fundrise is an American real estate crowdfunding platform. It facilitates transactions from individuals, allowing them to invest in real estate projects with initial investments starting at $1,000 and up to $10 million. It has been labeled as the first company to successfully crowdfund investment into the real estate market.

Property Management Tampa FL Companies Facts That You Probably Do Not Know 1024 683 Relevé Real Estate

Property Management Tampa FL Companies Facts That You Probably Do Not Know

1. Single properties require lower management fees.

Compared to a multi-unit residential real estate property, owning a single residential property to be managed by a property management Tampa FL companies requires lower fees not only because of the number of tenants but mainly because of the on-site property managers who need to live within the vicinity.

Basically, this a person assigned by the company itself that the owner needs to pay separately.

2. Some property management Tampa FL companies collect added premium for multi-unit residences.

For some reason, these properties – condos, townhouses, apartments – are harder to market than single properties, thus, the premium. Theoretically, real estate market price devaluation hits harder and longer on multi-unit residences (also called multi-family residences). This gives property management companies less security for their own earnings.

Like in any business, security is something that can dictate price (the same reason why less secured cars pay higher insurance premiums).

3. Hiring a property manager who will find tenants is more practical than availing of an overall property management service.

Prospective tenants only trust property managers with a license in property management as approved by the state. Property management Tampa FL companies have more experience in closing deals; hence, you have less worry to carry. In this case, you only have to pay a one-time charge.

It is recommended for a property owner who can manage to collect, communicate, and ensure maintenance and monitoring of his/her asset to just do the work himself/herself, especially if his/her residence is just within the area. This gives up to $5000 of savings.

4. Brisk market and stagnant market are the biggest determinants of rental price.

If a Tampa property management company tells you that heavy renovations will guarantee rental rate increase, then, you are gullible enough to believe.

While renovations and additional amenities contribute greatly on rental price, these are still dependent on the status of the rental and real estate market – a brisk market and stagnant market.

The Brisk market is the time when the number of potential tenants is higher than the available rental properties in a particular area. A stagnant market, on the other hand, is the time when the available rental properties are higher than the willing renters. It is, basically, all about the law of demand.

When the market is brisk, property management Tampa FL companies can increase the rental rate, regardless if renovations are done or not. If it is stagnant, no amount of renovations will guarantee a rental increase.

February 2016 Land O’ Lakes Real Estate Statistics 150 150 Relevé Real Estate

February 2016 Land O’ Lakes Real Estate Statistics

The Land O’ Lakes Real Estate Market Report for February 2016

Land O' Lakes real estate

According to the new data released by the Greater Tampa Association of REALTORS®, the Land O’ Lakes, Florida Real Estate Market is showing signs that 2016 is going to be even more aggressive than 2015.

 

Market Notes:

This is the first time in several months that we have seen more homes come on the market than sold. Hopefully, this is an indicator of a much-needed boost to our housing inventory.

Let’s take a look at the February 2016 real estate market numbers for Land O’ Lakes:

 

February 2016 Land O’ Lakes Real Estate Statistics

Status: Active (118)
    Beds Baths SqFt Heated List Price LP/SqFt Close Price ADOM CDOM
Min 1 1 750 $24,900 $24.13 1 1
Max 6 5 4,520 $599,900 $159.17 30 720
Avg 4 3 2,235 $245,029 $109.20 12 27
Median 4 3 2,103 $235,000 $112.77 9 10
Status: Active with Contract (53)
    Beds Baths SqFt Heated List Price LP/SqFt Close Price ADOM CDOM
Min 2 1 916 $51,200 $35.43 4 4
Max 6 4 4,680 $544,900 $195.37 178 328
Avg 4 3 2,210 $233,094 $105.62 51 57
Median 3 3 1,976 $219,900 $109.35 37 37
Status: Pending (111)
    Beds Baths SqFt Heated List Price LP/SqFt Close Price ADOM CDOM
Min 2 1   $10,900 $24.04   1
Max 7 5 4,054 $490,000 $208.51 373 377
Avg 4 3 2,117 $225,360 $106.93 65 73
Median 3 3 2,058 $215,995 $106.68 39 45
Status: Sold (97)
    Beds Baths SqFt Heated List Price LP/SqFt Close Price ADOM CDOM
Min 1 1 750 $33,000 $31.98 $27,000    
Max 7 5 5,055 $839,000 $210.78 $790,000 463 508
Avg 4 3 2,195 $242,629 $109.70 $234,759 65 83
Median 4 2 2,045 $219,000 $108.99 $214,000 47 51

 

The Land O’ Lakes Real Estate Market is Strong

February is usually one of the slower months for real estate sales in Land O’ Lakes as buyers and investors prepare for the spring season, but it was still 25% busier than this time last year. We are finally starting to see an increase in new listings by 34% over last year. This is very good news for homebuyers who have been struggling to find the right house because there have been so few homes on the market. Our hope is that this is an indicator of a more balanced market as we move into 2016.

These numbers cover all of the neighborhoods in the Land O’ Lakes, FL zip codes of 34637, 34638 and 34639.

All information is deemed reliable but not guaranteed

February 2016 Lutz Real Estate Statistics 150 150 Relevé Real Estate

February 2016 Lutz Real Estate Statistics

The Lutz Real Estate Market Report for February 2016

According to the new data released by the Greater Tampa Association of REALTORS®, the Lutz, Florida Real Estate Market is showing signs that 2016 is going to be even more aggressive than 2015.

Lutz real estate statistics

Market Notes:

This is the first time in several months that we have seen more homes come on the market than sold. Hopefully, this is an indicator of a much-needed boost to our housing inventory.

Let’s take a look at the February 2016 real estate market numbers for Lutz:

 

February 2016 Lutz Real Estate Statistics

Status: Active (117)
    Beds Baths SqFt Heated List Price LP/SqFt Close Price ADOM
Min 1 1 456 $49,900 $54.24  
Max 5 6 5,541 $1,080,000 $814.48 30
Avg 3 3 2,363 $345,332 $142.69 13
Median 4 3 2,319 $289,900 $131.74 12
Status: Active with Contract (26)
    Beds Baths SqFt Heated List Price LP/SqFt Close Price ADOM
Min 1 1 572 $74,900 $58.46 8
Max 4 10 2,964 $479,000 $305.94 273
Avg 3 3 1,893 $239,696 $129.83 87
Median 3 2 1,963 $214,950 $127.06 56
Status: Pending (55)
    Beds Baths SqFt Heated List Price LP/SqFt Close Price ADOM
Min 1 1 456 $34,900 $36.35 2
Max 6 4 3,738 $535,000 $167.97 266
Avg 3 2 1,947 $224,222 $111.89 57
Median 3 2 1,714 $189,900 $119.43 30
Status: Sold (59)
    Beds Baths SqFt Heated List Price LP/SqFt Close Price ADOM
Min 1 1 456 $48,900 $49.17 $44,500  
Max 6 6 5,158 $1,003,113 $194.48 $891,125 115
Avg 3 3 2,117 $262,096 $117.13 $253,502 39
Median 3 2 1,882 $227,000 $115.64 $206,000 33

 

The Lutz Real Estate Market is Strong

February is usually the slowest month for real estate sales in Lutz, but it was still 25% busier than this time last year. We are finally starting to see an increase in new listings by 34% over last year. This is very good news for homebuyers who have been struggling to find the right house because there have been so few homes on the market. Our hope is that this is an indicator of a more balanced market as we move into 2016.

These numbers cover all of the neighborhoods in the Lutz, FL zip codes of 33559, 33549, 33558 and 33548.  All information deemed reliable but not guaranteed.

January 2016 Land O’ Lakes Real Estate Statistics 150 150 Relevé Real Estate

January 2016 Land O’ Lakes Real Estate Statistics

The Land O’ Lakes Real Estate Market Report for January 2016

According to the new data released by the Greater Tampa Association of REALTORS®, the Land O’ Lakes, Florida Real Estate Market is showing signs that 2016 is going to be even more aggressive than 2015.

 

Market Notes:

This is the first time in several months that we have seen more homes come on the market than sold. Hopefully, this is an indicator of a much-needed boost to our housing inventory.

Let’s take a look at the January 2016 real estate market numbers for Land O’ Lakes:

 

January 2016 Land O’ Lakes Real Estate Statistics

Status: Active (120)
Beds Baths SqFt Heated List Price LP/SqFt Close Price ADOM
Min 1 1 750 $44,500 $39.44
Max 6 5 4,846 $599,900 $195.37
Avg 4 3 2,253 $253,037 $112.38
Median 4 2 2,125 $237,450 $112.58
Status: Active with Contract (39)
Beds Baths SqFt Heated List Price LP/SqFt Close Price ADOM
Min 2 1 916 $69,900 $35.43
Max 6 4 3,902 $469,900 $192.03
Avg 4 3 2,189 $223,924 $104.29
Median 3 2 1,990 $208,900 $104.78
Status: Pending (100)
Beds Baths SqFt Heated List Price LP/SqFt Close Price ADOM
Min 1 1 962 $29,900 $24.04
Max 6 4 3,954 $595,000 $156.13
Avg 4 3 2,122 $227,841 $107.77
Median 4 2 1,966 $217,995 $111.83
Status: Sold (83)
Beds Baths SqFt Heated List Price LP/SqFt Close Price ADOM
Min 1 1 750 $55,700 $55.70
Max 6 5 5,055 $839,000 $210.78 463
Avg 3 3 2,185 $240,983 $109.16 119
Median 3 2 2,076 $208,820 $109.27 92
Status: All (342)
Beds Baths SqFt Heated List Price LP/SqFt Close Price ADOM
Min 1 1 750 $29,900 $24.04
Max 6 5 5,055 $839,000 $210.78 463
Avg 4 3 2,191 $239,425 $109.33 119
Median 3 2 2,063 $219,900 $110.73 92

 

The Land O’ Lakes Real Estate Market is Strong

January is usually the slowest month for real estate sales in Land O’ Lakes, but it was still 25% busier than this time last year. We are finally starting to see an increase in new listings by 34% over last year. This is very good news for homebuyers who have been struggling to find the right house because there have been so few homes on the market. Our hope is that this is an indicator of a more balanced market as we move into 2016.

These numbers cover all of the neighborhoods in the Land O’ Lakes, FL zip codes of 34637, 34638 and 34639.

January 2016 Lutz Real Estate Statistics 150 150 Relevé Real Estate

January 2016 Lutz Real Estate Statistics

The Lutz Real Estate Market Report for January 2016

According to the new data released by the Greater Tampa Association of REALTORS®, the Lutz, Florida Real Estate Market is showing signs that 2016 is going to be even more aggressive than 2015.

 

Market Notes:

This is the first time in several months that we have seen more homes come on the market than sold. Hopefully, this is an indicator of a much-needed boost to our housing inventory.

Let’s take a look at the January 2016 real estate market numbers for Lutz:

 

January 2016 Lutz Real Estate Statistics

Status: Active (117)
Beds Baths SqFt Heated List Price LP/SqFt Close Price ADOM
Min 1 1 456 $49,900 $54.24
Max 5 6 5,541 $1,080,000 $814.48 30
Avg 3 3 2,363 $345,332 $142.69 13
Median 4 3 2,319 $289,900 $131.74 12
Status: Active with Contract (26)
Beds Baths SqFt Heated List Price LP/SqFt Close Price ADOM
Min 1 1 572 $74,900 $58.46 8
Max 4 10 2,964 $479,000 $305.94 273
Avg 3 3 1,893 $239,696 $129.83 87
Median 3 2 1,963 $214,950 $127.06 56
Status: Pending (55)
Beds Baths SqFt Heated List Price LP/SqFt Close Price ADOM
Min 1 1 456 $34,900 $36.35 2
Max 6 4 3,738 $535,000 $167.97 266
Avg 3 2 1,947 $224,222 $111.89 57
Median 3 2 1,714 $189,900 $119.43 30
Status: Sold (59)
Beds Baths SqFt Heated List Price LP/SqFt Close Price ADOM
Min 1 1 456 $48,900 $49.17 $44,500
Max 6 6 5,158 $1,003,113 $194.48 $891,125 115
Avg 3 3 2,117 $262,096 $117.13 $253,502 39
Median 3 2 1,882 $227,000 $115.64 $206,000 33

 

The Lutz Real Estate Market is Strong

January is usually the slowest month for real estate sales in Lutz, but it was still 25% busier than this time last year. We are finally starting to see an increase in new listings by 34% over last year. This is very good news for homebuyers who have been struggling to find the right house because there have been so few homes on the market. Our hope is that this is an indicator of a more balanced market as we move into 2016.

These numbers cover all of the neighborhoods in the Lutz, FL zip codes of 33559, 33549, 33558 and 33548.