Tampa Bay Real Estate

Carrollwood - A Very Attractiive Tampa Bay Community

2012-01-28T07:31:00.001-08:00

Carrollwood is a unincorporated planned community in northwest section of Hillsborough County, Like other suburban communities around Tampa, Carrollwood was built in the early 1960s and remains today one of the more popular residential areas being only about 7 miles from downtown Tampa and an even shorter drive to the Tampa International Airport.

It was one of the first planned communities within the State of Florida and the first in Hillsborough County. The community spread westward during the 1970′s and 80′s and the subdivisions of Fairway Village and Carrollwood Village were created.

The boundarties of the Carrollwood include Lake Magdalene to the north, the city of Tampa to the east, Egypt Lake on the south, and Carrollwood Village to the west. The community occupies areas to both the east and west of Dale Mabry Highway, the major north-south thoroughfare connecting Carrollwood to the metropolitan and downtown areas of Tampa.

Carrollwood includes homes and maintenance-free townhomes and condominiums in many styles, sizes and price ranges, some with golf course and lake views. Children living in Carrollwood go to school in the Hillsborough County School District. There are also several private schools in the area.

Carrollwood Village is the heart of Carrollwood and includes about every sort of shopping and dining venue you might want.

Golfers will appreciate the presence of several golf courses and country clubs in the area. Right within Carrollwood Village there is the Emerald Greens Golf and Country Club, a 27-hole course. Nearby is the Northdale Golf and Country Club, a 18-hole, par-72 course.

For professional singles, families and seniors alike, Carrollwood is an attractive place to live and enjoy the amenities so abundant in the Tampa and Tampa Bay area.

If you find Carrollwood as attractive as I do, I invite you to visit my Tampa Bay real estate website. Or, for more immediate assistance, call me at 813-263-6806 or E-Mail Me today. I would be delighted to answer your questions and show you just how attractively priced Tampa Bay homes are right now.

Tampa Home Sales Continue Improving

2012-01-04T12:48:00.000-08:00

According to the Greater Tampa Association of Realtors,1,523 properties sold during November, 2011. The average sale price of homes sold in November was $146,436, down slightly from $151,329 in October.

In 10 of the past 12 months home sales in the Tampa area have increased. The November sales total was an increase of 7% from the same month in 2010. At 9,800 homes of the market at the end of November, there is only a 6.4 month supply of homes and condos on the market. At the worst point in December, 2007, there were over 21,000 housing units on the market. Six months of inventory is the point at which buying and selling pressure are considered equal. If you add in the homes already under contract for sale, but not yet closed, the supply of homes and condos available drops even further. When the inventory of homes for sale drops below 6.0 months, the market is considered to be a "seller's market" where prices may begin to rise.

Another important market statistic, the average number of Days of the Market dropped consistently during 2011 to an average of only 103 days in November. As this number drops, it means that homes are no longer sitting on the market awaiting buyers. They are beginning to sell more quickly.

On the most attractive and attractively-priced homes, buyers in Tampa Bay are beginning to confront multiple competing offers, something that hasn't happened in a long time. Even real estate investors are finding they can no longer make ridiculously low-ball offers with any hope of success. They are finding that if they want to buy the property, they need to make an offer at or real close to what the properties are actually worth, a healthy sign.

Local Realtor Cheryl Stimac noted that, given the improving market condition price-wise, banks are increasing the pace at which they are putting their distressed properties on the market as short sales but these are expected to be bought up reasonably quickly by the increasing number of prospective buyers here during the snowbird months.

Overall, several positive forces seem to be coming together in the Tampa real estate market. The lower inventory of homes for sale is stabilizing, and will eventually put upward pressure, on prices. Banks are moving more quickly to get their inventoried properties on the market rather than letting them go into foreclosure where the condition of the home frequently degrades quickly. People are more upbeat than they have been in 3 years according to the consumer confidence index. And, with the arrival of our “snowbird” friends, there are more buyers in the Tampa Bat real estate market who are looking to buy now at these historically low prices and interest rates.

If you are visiting Tampa Bay now or planning to come here in the near future, I encourage you to call me at 813-263-6806, E-Mail Me, or visit my Tampa Florida real estate website to learn more about the many attractive golf course and other communities in our area. I would be delighted to answer your questions and offer suggestions on where to find exactly the type of home in the price range you are looking for.

Single Females - A Growing Segment of Tampa Bay Home Buyers

2011-12-19T11:19:00.000-08:00

The National Association of Realtors (NAR) recently reported that single women are quickly becoming a significant percentage of the total number of home buyers in real estate markets all across the United States. In 2011, over 20% of all home buyers were single women.

According to the NAR, single women aren’t just purchasing more homes. And it is not just young single professional women, the range of single female home buyers varies from young singles to post-retirement women. Builders report that women have become much more savvy about the whole home buying process than many male buyers. And, they are more likely to ask piercing questions and demand straight answers.

Due to the increasing number of single women buying homes, Tampa Bay builders and real estate agents are altering their advertising and marketing approaches to appeal to this large new segment of Tampa Florida home buyers. Builders in Hillsborough and Pasco County are increasingly offering new homes with more extensive security features, low- or no-maintenance yards, gourmet kitchens, more spacious bathrooms and softer color schemes - all features that appeal much more to female than to male buyers.

“When a woman is shopping for a home with a man, she may tend to defer to the man's interest in things like a large garage, a place to put the barbecue grill or a spacious den to be used as a "man-cave. Men don't mind a home that needs some "projects" to be completed," says a noted Tampa area Realtor, Cheryl Stimac. "Conversely," she says, "when a woman is buying a home for herself, she tends to be very interested in the functionality, completeness and appeal of the kitchen and baths. Focus groups have also shown that she would like an extensive security system. And, unlike the man, she will focus heavily on how many major and minor changes she will need to make to adjust the home to her personal lifestyle, interests and needs,"

As the Tampa real estate market continues a slow process of improvement, it behooves everyone involved in the real estate business, including those trying to sell a home, to pay attention to trends like this and tailor their plans and actions appropriately.

For example, we all know how important "curb appeal" - the first view from the street - is in successfully marketing a home. If, for example, you were attempting to sell a home or condo in Tampa Bay right now, it would be worth considering what exterior and interior changes will make the home more attractive to single female buyers.

Outside, the home should be extra appealing. The paint and trim should be near-perfect, the roof should not need work, shrubs and gardens should have a low-maintenance look. Inside, she will want to see more neutral and warmer colors. The kitchen should be spotless and uncluttered. Baths should sparkle andf have fresh, coordinated-color towels. Things like this can make a big difference in the appeal of a home to a single female buyer.

If you have a home or condo to sell in the Tampa Bay real estate market, I'd be happy to help make your home more "female-friendly." Call me at your convenience 813-263-6806 or E-Mail Me.

Buy that ugly beast of a home and make it a beauty!

2011-06-05T20:04:00.000-07:00

Foreclosures,short sales, and empty homes all lead to homes that need repairs. I can not tell you the number of times we have entered homes and discovered missing air conditioning units or missing kitchen cabinets.

Well how can you buy a home that needs so much repair? Where will you get the money after closing to fix that leaky roof? The FHA 203k loan is your answer. You can buy that beast of a home in a great neighborhood and turn it into the beauty of your dreams. You can add a new kitchen, the 13 seer Air Conditioning unit or roof to the mortgage. You can add a new master suite and bath to the 2 bedroom, 1 bath home. Do not let the condition of the home make you walk away from it. If the home is in the right location, or the lot size you have dreamed about, lets talk about how to make it into a beauty.

February Home Sales Indicate A Rapidly Improving Real Estate Market

2011-04-02T16:48:00.000-07:00

The Tampa Florida real estate market continued to show consistent improvement in February, 2011 with 1,591 homes of all types sold versus 1,427 sold in January. The average sales price also improved from $133,426 to $135,140.

This trend, if it continues as it surely appears it will, will accelerate the return of the Tampa real estate market to equilibrium during 2011.

There were improved sales volumes across all types of homes with 1,141 single-family homes and villas sold in February versus 1,016 in January. There was also good news in condos and co-op sales with 405 sold in February versus 370 the prior month. In other categories, there were 45 sales versus 41 in January.

Perhaps, most significant as a predictor of a future trend, the inventory of unsold homes on the market in Hillsborough County dropped from 15,152 or an 10.6 month supply down to 13,948 or an 8.8 month supply. This means that at the current rate of sales all existing homes on the market would be sold in 8.8 months. A real estate market is considered to be in equilibrium between buyers and sellers when the months of supply reaches about a 6 month supply. Things are clearly moving in that direction at this point giving us reason to feel very positive about a Tampa real estate market recovery in 2011.

Home prices here in Tampa Bay are now at levels lower than they have been in many years, but as the statistics above reflect, the real estate market is improving. Prices will not stay this low for much longer.

If you have been wondering whether you should buy a year-round or seasonal home or condo here in Tampa Bay before you head back North this year, I invite you to call me at 813-263-6808 while prices are still depressed.

I would be pleased to listen to your wishes and then show you homes here in Tampa Bay that will meet your every wish at prices you will find very attractive. Then next year and for years after that, you will get to enjoy the friendly, sunny Tampa Bay lifestyle in a home of your own.

I would enjoy helping you make that dream come true.

Universal Design - A Housing Option Appealing to Seniors &Young Families Too

2011-03-12T11:09:00.000-08:00

The term "Universal Design" refers to a wide range of architectural and construction ideas and products meant to produce buildings, products and environments that are inherently accessible to both the able-bodied and the physically disabled.

Universal design elements include such things as

No-step entry
One-story living without stairs
Wide doorways (32-36 inches) and hallways (36-42 inches)
Pull handles instead of knobs on cabinetry
Under-cabinet lighting
Adjustable rods and pullout shelving in closets
Lever handles on doors instead of knobs
Walk-in showers and bathtubs

The "universal design" concept evolved from earlier "barrier-free" concepts, the broader accessibility movement, and adaptive and assistive technology. Universal design seeks to blend aesthetics as well as functionality into products.

As life expectancy increases and modern medicine increases the survival rate of those with significant injuries, illnesses, and birth defects, there is a growing interest in universal design by many forward-thinking architects and builders. There are many industries in which universal design has had strong market penetration but there are others in which it has not yet been adopted to any great extent. For example, while curb cuts or sidewalk ramps, essential for people in wheelchairs but also used by all, are a common example, the home building industry has just recently become interested in the concept.

More Tampa Florida area homes are now being built with "universal design" features that will help boomers stay in their homes as they age. Interestingly, these features no longer evoke images of a hospital or nursing home room so they are beginning to appeal to younger demographic groups as well as seniors and the disabled.

In addition to kitchen and bathroom cabinets with pull-out shelves, kitchen counters at several heights to accommodate different tasks and postures, and walk-in bathtubs, there are now color-contrast dishware with steep sides that assist those with visual or dexterity problems. There is also growing use of lever door handles in place of the standard doorknob making it much easier for people with disabilities (as well as moms carrying a baby or bags of groceries) to open a door.

Perhaps the most interesting facet of the "universal design" concept is how quickly younger families are beginning to ask for such "ease-of-use" features in the homes they are considering building or buying.

For those interested in pursuing this further, there is a Universal Design video available for purchase that provides a lot of information about building and remodeling with universal design concepts.

As a Tampa Bay real estate agent, I have experience showing and selling homes which incorporate universal design concepts.

I would be delighted to help those who may be considering buying a home in the Tampa Bay Florida area identify builders employing "universal design" concepts in their new homes. I invite you to E-Mail Me or call me at 813-263-6806.

Tampa Bay Lakefront Living in Cory Lake Isles

2011-01-29T09:30:00.001-08:00

The Cory Lake Isles community, first developed in the mid 1990's, is located in the "New Tampa" area of Tampa Florida. This master-planned community was developed hugging the 10-mile shoreline of Cory Lake, the largest man-made lake in the area and abutting 17,000 acres of protected woodlands. Most of the homes in Cory Lake Isles have either lake views or conservation area/woodlands views. This unique community has brick streets with immaculately-kept tropically landscaped areas along its entrance ways and along walking and biking trails.

Cory Lake Isles community amenities include a 6,000-square-foot Beach Club situated on the lake with glistening white sand. Tennis, volleyball, a playground, canoeing, and a boat dock are additional features. While many residents enjoy the white sandy beach of Cory Lake, others enjoy water sports and fishing on the lake where bass are commonly caught. There is also a state-of-the-art fitness facility.

There are two entrances to this upscale community - one off East Fletcher Avenue/Morris Bridge Road and another from Bruce B. Downs Boulevard via at Cross Creek Boulevard.

From Cory Lake Isles it is less then a 30 minute drive to Downtown Tampa and 10 minutes more to MacDill Air Force Base. Cory Lake Isles, like all New Tampa communities, is conveniently located close to University of South Florida and Busch Gardens and a comfortable drive to downtown Tampa amenities like the Tampa International Airport, Raymond James Stadium, home of the Tampa Bay Buccaneers, the Ice Palace, Lowry Park Zoo, the fabulous Florida Aquarium, and Tampa's Performing Arts Center.

If a luxury lakefront home in a gated, master-planned community is your dream home, you'll find what you're looking for in Cory Lake Isles. Prices today range from the mid $200's to well over $1.0 million for the largest lakefront homes.

I would be delighted to show you homes and condos for sale in Cory Lake Isles or anywhere in Tampa Bay Florida at a time convenient for you. I invite you to request my free Tampa Florida Information Package or E-Mail Me or call me at any time.
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For outstanding Tampa Bay real estate service, you cannot do better than selecting Tampa Bay real estate broker, Cheryl Stimac of Red Shoe Realty, Inc.

Helpful Guide for Our "Snowbird" Friends

2011-01-06T05:26:00.000-08:00

This is the time of year when our friends from up North start coming to Tampa Bay, Florida to enjoy our fair weather and our casual sun-soaked lifestyle. Every year, more than a million Canadians and U.S. citizens from our more northern states migrate to Florida. Some are seasonal visitors while others consider becoming permanent citizens of Florida.

Some of these "snowbirds," as we like to call them, consider buying a home or condo here in Tampa Bay. Some of these "Snowbirds" also seriously consider taking the additional step of becoming residents of the state of Florida.

In both cases, these folks often wish they had better and more comprehensive sources of information to help them make good decisions about either buying a home or condo here in Florida or becoming Florida residents. While as a real estate agent, I can be very helpful, there is still much more one might wish to to learn before "taking the plunge."

There are two paperback books currently available for purchase that I think can be very helpful to those considering purchasing real estate in Florida and/or becoming residents of the state of Florida. I would like to point them out to my readers:

•"The Canadian Snowbird Guide" by Douglas Gray
•"The Official Snowbird's Guide to Becoming a Florida Resident" by Dean Hanewinckel, Attorney

Each of these books can be purchased from Amazon.com so we have included below direct links to the Amazon.com pages on which they are advertised.

For those of you with an E-Reader device such as an IPad or Kindle, it is noteworthy that these two paperbacks are also available to be downloaded to your E-Reader.

These two books are also available from other Internet sites such as buy.com and books.Google.com and from from many local bookstores such as Borders and Barnes and Noble. We encourage you to consider taking at look at these books either before you come to Florida this year, or, if you are already here in Florida, at one of our local bookstores.

For a permanent home, vacation getaway or an investment property, the Tampa Bay real estate market, after our recent price corrections, is hard to beat. I invite you to request my free Tampa Bay Real Estate Information Package or, for immediate assistance, I invite you to call me directly on my cell phone at 813-263-6806 for more immediate service.

Ten Step Process for First Time Home Buyers

2010-12-16T08:43:00.000-08:00

The Key to a Stress-Free First Home Purchase

If you are a first-time home buyer in the Tampa Bay, Florida area, this is a great time and the real estate market right now is perfect for you because:

You do not have another property to sell that you might lose money on.
Mortgage rates are extremely low right now, and
Price reductions have made homes much more affordable than they've been in over 10 years.

But you do need to understand that buying a home is a fairly complex process that takes time, some knowledge and the guidance of a real estate professional to make things go as smoothly as possible and for you to get the best possible deal. Here are 10 steps that will help you accomplish your goal of buying a first home that meets your needs and desires at a good price.

1. Buy a Notebook and get organized. Use this notebook exclusively for planning your first home purchase.

First, think about and then write down a summary description of the type of home and type of neighborhood you would like to find. Is it a ranch, a bi-level or tri-level, a two-story home, a duplex where you can rent the other half, or a condominium? Do you want a small lot to maintain, a maintenance-free community or a large lot of land where you can pretty much do whatever you wish without offending your neighbors? Do you prefer living in the city, the suburbs or in a more rural area?

Now, and this is a really important step, write down those things you REALLY NEED TO HAVE in the home for it to meet your needs for the next 7 - 10 years. Also list those things you’d REALLY LIKE TO HAVE but, if you had to, you could do without.

Keep this list handy and use it as a guide to judge every home you look at whether it’s a model home, an open house or part of a tour a Realtor has arranged for you.

2. You need to learn early on how much home you can afford. So, make a budget of your current expenses and use this to pinpoint how much you are willing and able to pay for the buying and maintenance of your new home. As a “rule of thumb,” keeping your monthly housing cost to 25% to 35% of your gross monthly income is a good place to start.

3. Meet with more than one mortgage lender. Bring you budget of current spending with you. Learn how much each lender believes you can afford to spend on a home and how much down payment will be required for the various types of mortgages available. Ask each lender for at least a pre-qualification statement. When you are reasonably sure which lender you would prefer to borrow from, ask if he or she will provide you with a "pre-approval" letter which you can attach to any offer you might make. Having a pre-approval letter already in place is a powerful price negotiating tool when you're ready to make an offer.

4. Introduce yourself to an experienced, full-time Realtor like Cheryl Stimac of Red Shoe Realty, Inc. Get to know the Realtor and make sure you feel comfortable dealing with him or her because you are going to be spending a fair amount of time together. Ask that realtor to act on your behalf as your "Buyer's Agent." Only when acting as your Buyer's Agent is a Realtor required to work for your benefit and yours alone. The Realtor whose name is on a For Sale sign in front of an Open House or a sales representative at a model home is NOT looking out for your best interest. They are working for and looking out for the Seller, not you.

5. Your Buyer's Agent Realtor will help you understand how your your housing affordability and your list of needs and wants fit with the market of for sale homes in Tampa Bay. He or she will then research the best home values and neighborhoods that meet your criteria and provide you with a list of homes currently on the market that fit your criteria.

6. With or without your Realtor, drive around visiting the neighborhoods with homes in your price range and identify those two or three neighborhoods and school districts you would most like to live in. This step will save both you and your Realtor a lot of wasted time and also help you to focus your criteria. After this step, you may want to sit with your Realtor again and adjust your list of "Needs and Wants" and make changes to your priorities of needs versus wants, if necessary. Remember, this list is only as useful as you have kept it in touch with the realities of your situation. It is natural to have started out with higher expectations than reality will allow, so do not be embarrassed or concerned if your list changes somewhat at this point. Update your list, share it with your realtor and carry on.

7. If you want to include "Short Sale" and "Foreclosure" homes in your search, be sure you fully understand how these procedures work (or in many cases, don't work) and the amount of time those processes can take. Your Realtor can explain the process by which these types of transactions occur and clarify for you the pros and cons of each of these home buying processes versus a normal purchase transaction.

8. Now get out there and get serious about finding that most perfect first home for you. There are wonderful homes available in Tampa and the Tampa Bay area at very attractive prices right now.

But, you need to be ready to act when you find that perfect one. The most desirable homes at the most attractive prices don't sit on the market for long, even in today's marketplace. Your "Needs and Wants" list, that hopefully you've kept up to date, will help you know when "this is the home for us."

9. Work with your Realtor to decide upon your offer price. Your Tampa Bay Realtor will help you by analyzing comparable properties in comparable neighborhoods to decide on an appropriate offering price. If you have secured a pre-approval letter from a lender, make sure it is still in effect, and attach it to your offer.

10. With the terms of your purchase contract agreed to by both you and the Seller, you will work your way through the multi-step contract-to-closing process. This process will include a home inspection, finalizing you mortgage application, and several other steps all of which your Buyer's Agent Realtor and your lender will help you with.

Eventually, on closing day, you will sign more papers than you'd ever imagined possible at the closing and then you'll be ready to move into your first home. Congratulations will definitely be in order at that point !!

Westchase - One of Tampa Bay's Premier Communities

2010-11-09T05:40:00.000-08:00

One of Tampa’s premier communities that offers something for everyone is award-winning Westchase. It is a master-planned, deed restricted community encompassing over 2,000 acres located on the west side of Tampa in Hillsborough County near the Pinellas County line. It is conveniently located a 20 minute drive to the Tampa International Airport, the Westshore Business District and only 25-35 minutes to St. Petersburg and the some of the best beaches in all of Florida.

There are over 3,500 single-family homes, town homes and condos in 29 separate "neighborhoods." Each distinct neighborhood offers a different style of living including condominium, town home, villas, neo-traditional, porch style townhomes and single family homes as well as traditional Florida-style homes. Prices in Westchase range from the mid-$100's to approximately $850,000. There are also several gated neighborhoods and neo-traditional neighborhoods that feature alleys. In keeping with the planned unit development concept, Westchase also offers apartment living in West Park Village.

Each neighborhood has its own hub of activity all of which come together at the two Swim and Tennis Centers, two playgrounds, sport fields, picnic pavilions and the two Westchase Town Centers. The community includes hundreds of acres of preserved land, playgrounds, clubhouse, an 18-hole golf course, parks, nature trails, a soccer field and two swim and tennis centers, and most importantly for families, an A-rated school district.

The Westchase Golf Club, opened in 1992 as the centerpiece of the Westchase master-planned community. The club is a premium daily-fee facility recognized by the National Golf Foundation for its outstanding course conditions, service and value. The 6,710-yard, par 72 course winds through natural wetlands, wooden bridges and bulkheads. Called "one of the most beautiful public-access courses in the Tampa Bsy area," Westchase has earned a high rating from Golf Digest. The club has a beautiful 9,500 square foot clubhouse used by residents and others for a wide variety of events, group outings and weddings.

While Westchase was designed to be pedestrian-friendly, it is also close to three major malls, Westfield Citrus Park, International Plaza, and Westfield Westshore Plaza as well as a wide variety of theaters, retail shops, cafes, banks, professional offices, pre-schools, coffee shops and gyms.

While there are several other master-planned communities in Tampa Bay, Florida, residents of Westchase feel there are none quite as nice and quite as complete as Westchase. Here you will find a lifestyle and a housing option perfectly suited for young professionals, retirees and young families.

You deserve the best possible representation on the largest investment you may ever make, your new home in Tampa Bay Florida. I would be happy to introduce you to the many amenities of Westchase as well as other golf course communities and Tampa homes for sale.

I invite you to request my free Tampa Florida Information Package including information on Westchase and other communities or E-Mail Me or call me at any time.

For outstanding Tampa Bay real estate service, you cannot do better than selecting Tampa Bay real estate broker, Cheryl Stimac of Red Shoe Realty, Inc. You may contact Cheryl by E-Mail or for more immediate assistance, call her cellphone at (813) 263-6806

Chihuly Exhibit Offering Annual Passes

2010-10-13T06:57:00.000-07:00

Good news for Tampa Bay newcomers, visitors and especially those residents who have lots of visitors during the upcoming Thansgiving and Christmas holidays and then the snowbirds from up North. The Morean Arts Center in St. Petersburg now offers an annual pass to the Chihuly Collection for just $99.

If you are a visitor to Tampa Bay or a resident who is not familiar with Dale Chihuly's unique, and gigantic, glass works, you should pay a visit yourself. You'll be amazed at what you see.

The Chihuly Collection includes Chihuly’s spectacular large-scale installations such as Ruby Red Icicle Chandelier created specifically for the Collection along with several popular series of his works including Macchia, Ikebana, Niijima Floats, Persians and Tumbleweeds which have thrilled audiences around the globe.

A pioneer of studio glass art movement, Chihuly is credited with transforming the methods of creating glass art leading the development of complex, huge multi-part glass sculptures and environmental art. He has created a number of memorable installations including “Chihuly Over Venice” with the sculptures installed over the canals and piazze; "Chihuly in the Light of Jerusalem”, attended by more than a million visitors, and the “Chihuly Bridge of Glass” in Tacoma, Washington.

The Chihuly Collection is now permanently located in a new 10,000 square foot exhibit hall at 400 Beach Drive, St Petersburg in St Petersburg's downtown waterfront at the heart of the most vibrant tourist area. The exhibit is within walking distance of the Vinoy Resort and Golf Club, the St Pete Pier, the Museum of Fine Arts, a multitude of galleries, restaurants and shops, and in January, 2011 the new Salvador Dali Museum.

This presentation is the first installation of Chihuly art in a building designed specifically for that purpose. The facility has been designed so the art and architecture work together to create a visitor experience unlike any other exhibition of Chihuly’s art. The entrance to the Collection has an iconic 20-foot sculpture created especially for the site.

The Collection is open seven days a week for your convenience.
Monday, Tuesday, Wednesday, Friday and Saturday, 10am–6:00pm
Thursday, 10am–8pm
Sunday, Noon–6pm
Closed only on Thanksgiving and Christmas day

Docent-led tours are every hour on the half hour. The last tour begins at 4:30pm on Monday, Tuesday, Wednesday, Friday, Saturday, and Sunday and at 7:15pm on Thursdays.

Single day passes for Adults start at $15.00 while seniors over 55 pay $13.00. Student's and children's prices are lower. The annual pass for unlimited entrances for a full year are priced at $99.00

I inivte those coming to Tampa Bay for the holidays or the winter season to visit my Tampa Bay Florida real estate to learn more about the Tampa Bay area, the enjoyable lifestyle available here, and the many homes and condos now on the market at seriously reduced prices. For more immediate assistance or for questions, please feel free to call me directly at 813-263-6806. I would be delighted to be of service.

The U.S. Economy Is In Better Shape Than is Being Reported

2010-09-14T11:58:00.000-07:00

Although the U.S. economy is still soft and consumer confidence remains low, new data from several sources including the National Association of REALTORS® (NAR), the Bureau of Economic Research (BER) and others exhibit positive signs for the future of Americans, in general, and Tampa Bay Florida home buyers in particular.

Some of the biggest names in business have said recently that they see a bright future for the U.S. economy. Famed investor Warren Buffett declared recently that the country and the world clearly will not fall back into another recessionary dip. "I am a huge bull on this country. We are not going to have a double-dip recession at all," said Buffett, chairman of Berkshire Hathaway Inc. "I see our businesses coming back across the board."

Others agree. Steve Ballmer of Microsoft says, "I am very enthusiastic about what the future holds for our industry and what our industry will mean for growth in other industries."

Jeffrey Immelt, General Electric CEO says business at GE, one of the world's largest companies, is improving. "General Electric," he said, "is now finding it more profitable to build manufacturing and service centers in the United States rather than overseas, because it is more competitive."

U.S.-based CEOs have begun to notice that shipping costs, inefficiencies, and the longer lead times associated with building products overseas are eating up the higher profitability that was forecast a few years ago. U.S. corporations are beginning to favor manufacturing here creating American jobs. An example may be the start-up of brand new lithium-ion battery manufacturing plants in Michigan focused on taking America's participation in worldwide battery production used for hybrid and electric vehicles from its current level of 2% to 40% over the next 5 years.

Some of the key economic facts published by NAR, BER and other economic analysis sources include the following:

The U.S. economy is growing, though slowly. The private sector is finally creating jobs, 700,000 so far this year.
While consumer confidence remains low, it is clearly up from its lowest point.
30-year mortgage rates are at their lowest point in decades. 30-year mortgages are available at close to 4%.
Personal income increased in July, 2010 by $30.0 billion, or 0.2%. Disposable personal income increased by $17.6 billion, or 0.2% according to the Bureau of Economic Analysis.
Although bad mortgage loans during overly-loose lending practice periods are still causing foreclosures and short sales, recent home price-to-income ratios indicate that people are now buying homes they can actually afford to own.
Consumers in all income brackets are paying down their credit card balances and starting to save more.
Median home prices across the U.S. are stabilizing and economists expect modest home price increases in the 2011-2014 period.
Real estate speculators have been driven out of the market removing a huge source of instability.

So why does the American public still express so little confidence in the economic recovery? To a large extent, the 7 day/24 hour cable TV news networks and Internet bloggers focus far too much attention, in my judgement, on the latest outrageous or pessimistic statement or action by someone with an agenda, rather than someone with positive news or a constructive opinion. They have painted an economic picture that is much less positive than current underlying economic indicators and the CEOs of major U.S. corporations suggest is the case.

What does all this mean for you as a potential buyer of a home on condo. particularly here in Tampa Bay? It means that the U.S. economy is finding its footing and slowly but surely beginning to rebound - not as quickly as anyone would hope but, in fact, at a faster pace than occurred in either of the past two recessions.

So if you have been delaying a decision on when to buy that Tampa Florida area home, now is the time to come to Tampa / St Petersburg, work with a professional Buyer's Agent Realtor like Cheryl Stimac, and buy that permanent, retirement or seasonal get-away dream home you've been wanting before home and condo prices start climbing again.

If you would like to know more about Tampa Bay communities, schools, and cultural amenities, request my free Tampa Bay Florida Information Package or call me directly at 813.263.6806.

Brandon Florida - A Popular Tampa Bay Community

2010-09-02T08:15:00.000-07:00

Located in the southeastern corner of Hillsborough County, Brandon is one of the most popular suburbs of Tampa Bay with easy access via I-75 and I-4 to both Tampa and Orlando,

In 1858, John Brandon purchased 40 acres in the New Hope (the former name of Tampa) area and another 160 acres later on and then named his land Brandon. In 1890, the Florida Central and Peninsula Railroad came through the area and John's wife, Victoria, convinced a civil engineer for the railroad to survey the area and lay out a "town".

Growing rapidly from its origins as a rural area, Brandon has become a place of refuge for families seeking a peaceful and convenient location. The population of Brandon stood at 90,470 as of 2007 up by 16.1% since the 2000 census.

Known for being one of Tampa's premier bedroom community, Brandon has the usual population of strip malls but it also has one of the largest and nicest regional malls in Florida. Quality schools also make Brandon a favorite community for families with children.

There is a wide variety of nerighborhoods - something to suit every taste and lifestyle. New and resale homes are for sale in neighborhoods such as Brentwood Hills, Heather Lakes, Hickory Lakes, Providence Lakes, and Sterling Ranch. Home prices appeal to a wide range of housing needs and lifestyles, and are range from the mid $100's to over $1 Million.

You deserve the best representation available to you on what may be the largest single investment you ever make, whether it is in one of our Brandon neighborhoods or elsewhere in Tampa Bay, Florida.

I invite you to request my free Tampa Florida Information Package or E-Mail Me or call me at (813) 263-6806 at your convenience.

For outstanding Tampa Bay real estate service, you cannot do better than selecting a competent and experienced Tampa Broker like Cheryl Stimac of Red Shoe Realty, Inc.

No Oil Spill Impact on Tampa Bay Beaches

2010-08-08T09:07:00.000-07:00

Tampa Bay Florida beaches, including those in Pinellas, Pasco and Hillsborough counties remain untouched by the Gulf oil spill and are as clean and as pristine as ever.

On August 4, the National Oceanic and Atmospheric Administration (NOAA) forecast that what few patches of oil in the Gulf of Mexico as a result of the explosion and sinking of the Deepwater Horizon drilling rig 130 miles southeast of New Orleans, remain well to the south and west of Florida.

No oil has been observed on the Florida coast for several weeks and it was reported this week at a White House briefing that the "static kill" process to seal worked exactly as expected with no oil escaping into the Gulf. Thad Allen, a retired Coast Guard admiral and director of the federal goverment's response continues to insist that crews complete and then shove more mud and cement down through the 18,000-foot relief well which should be completed shortly as the final step to permanently seal the well.

Governor Charlie Crist, the State Emergency Response Team and the Florida Department of Environmental Protection (DEP) continue to actively coordinate the state's response to the Deepwater Horizon incident. They also reported that no recoverable oil has been seen through over-flights of the spill area since July 31. Satellite data analysis shows no new Florida shorelines impacted or expected to be impacted at any time in the foreseeable future.

All Florida beaches are now open. NOAA further announced this week that its latest analysis shows Southern Florida, the Florida Keys, and the East Coast are unlikely to experience any effects at all from the little oil remaining on the surface of the Gulf.

Only in the most northwestern-most Panhandle areas of the state have a few tar balls and light sheen been reported. Nonetheless, as a precaution, five state-leased skimmers remain on standby in that area to protect sensitive inland water bodies. All supplemental booms are being removed and stored in the area in the unlikely case they are needed at some point in the future.

The Florida Oil Spill Information Line continues to be available to answer your questions at:

English – (888) 337-3569
Spanish – (877) 955-8773

If you have been concerned about how the Gulf oil spill might affect your vacation plans or your interest in investing in a Tampa Bay area home or condominium on the waterfront, close to our gorgeous beaches, or in a golf course community rest assured. All Tampa Bay beaches and beach communities remain untouched by the spill and remain as attractive to visitors and investors as ever.

Come experience Tampa Bay and learn about the wonderful lifestyle that only Tampa Bay Florida has to offer whether you are a single, a young couple or active retirees.

If you would like to know more about Tampa Bay Florida real estate, our golf courses, soft beaches, friendly neighborhoods, and cultural amenities, request my free Tampa Bay Information Package or call me directly at 813-263-6806.

Intro to the Live Oak Preserve community in Tampa Bay

2010-07-05T11:44:00.000-07:00

The Live Oaks Preserve community was designed and constructed by the developer, Transeastern, to complement the 100-year-old oak trees in the area. Located in the New Tampa area on 1,300-acres northeast of I-75 Exit 270, bounded by Bruce B. Downs Boulevard and County Line Road, the community features several village-themed developments including Cedarwood, Cypresswood, Laurel Oak, Brentwood, Maplewood, Oakwood and Weatherwood. Over time, eighteen unique villages are planned to lie within the boundaries of Live Oak Preserve.

This spectacular private, gated community offers quiet and tranquil neighborhoods with 362 acres set aside for wetlands and picturesque wildlife, ponds, and conservation area vistas. Located just outside the community gates there is an abundance of restaurants, parks, professional offices, and retail shopping. University of South Florida and Busch Gardens Amusement Park are less than a 15 minute drive away. You also have convenient access to downtown Tampa via I-75 and I-275 with all of its cultural and recreational attractions including the Florida Aquarium, historic Ybor City and the Tampa International Airport just a 30 minute drive away. Disney World and Universal & MGM Studios are about an hour's drive to the East. And, the beaches of the Gulf of Mexico are less than 30 miles to the west.

The community is highlighted with multiple single family home villages and a town home village with traditional Florida charm and natural splendor in varying price ranges. There is a multi-million dollar clubhouse at the center of the community which includes a 10,000 square foot, resort-style pool, fully equipped fitness center, children’s playground, as well as tennis and basketball courts. All of Live Oak Preserver's villages, parks and schools are connected by private roads and wide winding sidewalks perfect for either active exercising or just a leisurely stroll.

You deserve the best possible representation on the largest investment you may ever make, your new home in Tampa Bay Florida. I would be happy to introduce you to the many amenities of Live Oak Preserve and other communities and homes for sale throughout Tampa and Tampa Bay.

I invite you to request my free Tampa Information Package including information on Live Oak Preserve and other communities or E-Mail Me. For more immediate assistance call me at any time at 813-263-6806.

What are the Differences Among Foreclosures, Bank Owned and Short Sale Properties

2010-06-09T17:06:00.000-07:00

What are the differences among Foreclosures, Bank Owned and Short Sale properties you may see listed for sale? The differences are substantial and you should not underestimate the effort involved in bying a home under any of these processes.

Since I am frequently asked by prospective buyers the difference among these three different approaches to buying a home, I'll try here to answer that question as briefly as possible here.

Foreclosure Properties are property sold via an auction process. A foreclosure auction sale begins with a minimum bid that includes the loan balance, any accrued interest, plus attorney's fees and any costs associated with the foreclosure process. To bid at a foreclosure auction, you must have a cashier's check in your hand for the full amount of your bid. If you are the successful bidder, you receive the property in "as is" condition, which may include someone still residing in the property. There may also be other liens against the property. Since what is owed to the mortgage holder is almost always more than what the property is worth, very few foreclosure auctions result in a successful sale. Then the property "reverts" to the bank. It becomes an REO, or "real estate owned, REO or bank-owned property.

Bank Owned Properties are properties that have already gone through the foreclosure process without a successful bid being received and are now owned solely by the bank or other mortgage holder. The bank will handle the eviction of any people living in the property, if necessary, they and may or may not do any repairs. They most generally want to sell the property "as is" although that may be negotiable. The bank will also negotiate with the appropriate authorities to remove any tax liens and pay off any homeowner's association fees that are due. As the buyer of a bank-owned property, the buyer will receive a title insurance policy and the opportunity to investigate the property. The buyer's offer will be countered by the bank and it is typical for the buyer to re-counter that counteroffer.

Short Sales Properties are those homes that are still legally owned by the homeowner but the property is being listed for sale at a price that is less than the amount owed on the mortgage. Since both the seller and the mortgage holder are involved, once the seller accepts an offer, it must be submitted to the mortgage holder, who will frequently attempt to get a higher price before allowing the deal can be consummated. A home or condominium offered as a short sale may or may not already be in the foreclosure process. Short sale properties are generally sold "as is" with no allowance for inspections. The buyer may do any inspections they wish at their own expense but it is unlikely that the bank will agree to cover the cost of any deficiencies found during the inspection.

If the bank believes it can receive a higher price by taking the property through the foreclosure process, they will hold out for a higher price than the advertised short sale price and closer to what they believe to be the property's market value. Lenders generally accept short sales only when the price of the home is close to its market value. It is generally not the case that a buyer gets a significantly better deal on a short sale than on a typical purchase transaction, And, this process can take 90 - 120 days or even more.

The assistance of a professional Tampa Bay Realtor knowledgeable in the purchase of "distressed properties" will make buying a home as a short sale, at a foreclosure auction or as a bank-owned property a simpler, although surely not a trivial process. You should not attempt to procure a home by any of these three routes without the assistance of an experienced and knowledgeable professional like Cheryl Stimac, a Tampa Bay real estate expert trained and experienced at executing home purchases under these processes. Cheryl has earned the Certified Distressed Property Expert (CDPE) designation, having completed extensive training in foreclosure avoidance and short sales.

You may also want to read my earlier post on Foreclosures and Short Sales

Introducing Temple Terrace

2010-05-05T10:56:00.000-07:00

Home of the Temple Terrace Golf and Country Club

The community of Temple Terrace is an incorporated city in northeastern Hillsborough County, adjacent to Tampa. The city is the third, and smallest of the three incorporated municipalities in Hillsborough County. The other two are Plant City and Tampa.

Named for the hybrid "Temple" oranges and the surrounding "terraced" terrain, Temple Terrace was incorporated in 1925 and is known for its rolling landscape, bucolic Hillsborough River views, and majestic live oak trees.

The community is located adjacent to the University of South Florida campus and is, therefore, an ideal location for USF faculty as well as under-graduate and graduate students. The city has a population of about 24,000 and the median household income of Temple Terrace residents in 2008 was just over $54,000.

Temple Terrace was one of the first planned golf course communities in the United States when it was laid out in the mid-1920's with the expectation of it being both a golf course community and the home of the largest orange grove in the world. The 1920 vision of the community's founders was that wealthy retired Northerners would purchase lots in Temple Terrace, build a Mediterranean Revival villa as well as a parcel in the adjoining citrus grove to manage as a hobby or for extra income.

In 1925, the Temple Terrace Golf and Country Club, which is still in existence, hosted the first ever "Florida Open." The most distinguishing characteristic of the 18-hole, 6,414 yard private Temple Terrace Golf Course is the large, mature trees line which most of the fairways forcing golfers to hit straight shots, or suffer the consequences.

Downtown Tampa with all of its cultural and recreational attractions, the Florida Aquarium, historic Ybor City and the Tampa International Airport are within easy driving distance. Disney World and Universal & MGM Studios entertainment centers are about an hour's drive to the East while the white-sand and warm water of the St Petersburg/Clearwater area are about an hour’s drive to the West.

Temple Terrace offers a wide variety of housing opportunities. There are newer Temple Terrace homes for sale as well as established neighborhoods with both upscale and moderately-priced homes, condos and apartments. Some home sites abut the Temple Terrace golf course. Others back to the scenic Hillsborough River as it wanders through the town. Homes in Temple Terrace range from less than $100,000 to well over $1 million.

I would be delighted to show you new and resale homes in Temple Terrace or anywhere in Tampa Bay Florida at a time convenient for you. I invite you to request my free Tampa Florida real estate information package, E-Mail Me or call me at 813-263-6806 at any time.

The Federal Home Buyer Tax Credit is About to Expire

2010-04-08T10:59:00.000-07:00

It's Time to Get Moving before It's Too Late

The first-time home buyer tax credit program which was extended and expanded to include existing homeowners expires on April 30th.

So, if you've been delaying a decision on buying a home or condo in the Tampa Bay Florida real estate market, it's time to contact a competent Realtor® TODAY and get a home purchase contract signed right away or you're going to miss out on the opportunity to gain up to a $8,000 income tax credit if you're a first-time buyer or up to $6,500 if you're currently a homeowner.

And don't forget that, in addition to the requirement to have a home purchase under contract (that means signed by both the buyer and the seller) by April 30, you must also close on the sale on or before June 30, 2010.

Who qualifies as a "first-time buyer" for up to an $8,000 credit?
The law defines a “first-time home buyer” as one who has not owned a principal residence during the 3-year period prior to the purchase. For married taxpayers, the law tests the home ownership history of both the home buyer and his/her spouse.

If, for example, you have not owned a home in the past 3 years but your spouse has owned a principal residence, neither you nor your spouse qualifies for the tax credit. However, there are exceptions. As an example, there is a possibility for unmarried joint purchasers to allocate the credit amount to any buyer who qualifies as a first-time buyer, such as if a parent jointly purchases a home with child. There are also rules about ownership of vacation or rental properties not used as a principal residence.

How is the amount of the first-time buyer tax credit determined?
The tax credit is equal to 10 percent of the home’s purchase price up to a maximum of $8,000 but there are income limits.

So, you need to speak with a competent Tampa Bay Realtor to see if you do qualify.

Who qualifies as a existing homeowner buyer for up to the $6,500 credit?
The law defines a tax credit-qualified existing or "move-up" home buyer as a person who has owned and resided in the same home for at least five consecutive years of the eight years prior to the purchase date of the new home. For married taxpayers, the law tests the home ownership history of both the home buyer and his or her spouse. That is, both spouses must qualify as long-time residents, with at least five years of principal residency for each. They do not, however, have to purchase a home that is more expensive than their previous home to qualify for the tax credit.

How is the amount of the existing homeowner tax credit determined?
The tax credit is equal to 10% of the home’s purchase price up to a maximum of $6,500. Purchases of homes priced above $800,000 are not eligible for the tax credit. And, yes, there are income limitations. If your income is above the limit, you may still qualify for a partial credit.

It is very easy to become confused with the provisions of this law. Don't miss out on an opportunity that may not come again for a long. So, speak with a competent Tampa Bay real estate expert like Cheryl Stimac right now to see if you do qualify.

Aa a Realtor experienced in dealing with these types of situations, Cheryl Stimac can tell you after just a brief conversation whether or not you may qualify. But time is short so its definitely "Time to Get Moving."

Welcome to Hunter's Green

2010-03-23T06:43:00.000-07:00

Hunter’s Green is a meticulously developed master planned community in Tampa, Florida. In Hunter's Green, you'll find everything you might ever need or want to enjoy a comfortable, convenient, and tranquil lifestyle.

Hunter's Green is located 1 mile north of the I-75 exit at Bruce B. Downs Boulevard in the area known as New Tampa and includes 23 subdivisions.

Beyond the gated entrance, you'll find a private, unspoiled world; a natural environment where over half of its nearly 1,400 acres have been reserved for conservation and recreation. Shimmering lakes, peaceful parks, and nature preserves including a feeding area for the protected woodstork and gopher tortoise are just a few of its natural highlights.

The second thing you'll notice is the Hunter's Green County Club with its 35,000 square foot elegant, yet casual, clubhouse and its Tom Fazio-designed championship 18-hole, 6,900 yard golf course designed with a strong emphasis on environmental integrity.

Hunter's Green Country Club was planned and designed as three private clubs in one: the traditional 18-hole golf course club, a premier tennis, athletic and swim club, and an outstanding dining and social club. The clubhouse is the plush center of Hunter's Green social activity. First-class dining, a cocktail lounge and private banquet and conference rooms make it the perfect place to entertain friends, family and business associates, yet the club prides itself on its relaxed atmosphere and family amenities.

Central to the club's activities is the sports center which includes a state-of-the-art fitness center, group exercise and indoor cycling studios, 17 lighted har-Tru tennis courts, a basketball court, two 4-wall racquetball courts, a sand volleyball court. a heated junior Olympic swimming pool, a children's playroom, a youth activities building, men's & ladies' locker rooms and a pro shop.

Of interest to those with young children, Hunter's Green Elementary school has earned a reputation of academic excellence and supportive community partnerships. Standardized test scores traditionally place Hunter's Green Elemenetary students in the upper 10% of Hillsborough County schools. The teaching faulty is dedicated to continuing this level of excellence and developing programs to meet the needs of every student.

Hunter's Green is the first major community in Florida to be designated a Florida Quality Development for its adherence to strict environmental and planning guidelines and has become a prototype for residential communities around the country. The community has won numerous national and local awards, including the Aurora Award for the Top Master-Planned Community in the Southeast and the ENVY Environmental Award from the Florida Association of Realtors for the residential development that most celebrates Florida's natural quality of life.

While there are other master planned communities in Tampa Bay, Florida, residents feel confident that there are none quite as nice and quite as complete as Hunter's Green. Here you'll find a country club lifestyle perfectly suited for both the accomplished professional, retirees and young families.

Consider Wesley Chapel for Your New Home

2010-03-08T10:35:00.000-08:00

Many people have moved into Tampa Bay Florida over the past couple decades yearning for the warmer climate and lower cost-of-living offered by Florida. As metropolitan Tampa and Hillsborough County have expanded, more and more people are finding it more convenient and pleasant to live just over the border into Pasco County in the town of Wesley Chapel.

Wesley Chapel's location has helped spur its growth. It is bordered on the south by the city of Tampa, on the east by Zephyrhills, and on the west by Land O'Lakes. To the north are the smaller communities of San Antonio and St. Leo, and Dade City, the county seat. Wesley Chapel's proximity to Interstates 75 and I-275 provides convenient access to other Tampa Bay communities, the Gulf beaches, and the Central Florida/Orlando tourist attractions.

Wesley Chapel has evolved from its early days, when cash crop farming, logging, citrus and cattle ranching were the principal activities. Today, it is a haven for residents who want the benefits of the big city and the bay area without being directly in the center of it. Wesley Chapel has established itself as an extremely desirable place to live, work, shop and play.

With about 45,000 residents today, Wesley Chapel offers a wide range of home choices from custom homes and single family homes to condos and townhomes. Saddlebrook is a stand-out Wesley Chapel community on 480 acres of wildlife, two 18-hole golf courses, tennis and a heated community pool as well as a health club, three restaurants and two bars.

Seven Oaks, Quail Hollow, Lexington Oaks, Meadow Pointe and Chapel Pines are among the many other communities offering homes from the modest single-family homes to executive mansions. Pasco County tax rates are reasonable, offering another incentive for prospective home buyers to settle here rather than within Hillsborough County.

For children, the school system features seven different schools (two private): Saddlebrook Preparatory, Sand Pine Elementary, Wesley Chapel Elementary, Seven Oaks Elementary, Victorious Life Academy, Weightman Middle School, and Wesley Chapel High School.

Right in Wesley Chapel residents have major shopping centers, a multiplex movie theater, and many casual and fine dining establishments. The community even has its own private airport, the Tampa North Flight Center, convenient for those traveling by private plane. The 143-acre District Park is the pride of the community for recreation.

A new hospital has been approved to be built in Wesley Chapel. The 52-acre campus will include office buildings and an 80-bed hospital. Nearby in Tampa, several health-care facilities including the Moffitt Cancer Center, University Community Hospital and the St. Joseph’s Women’s Hospital assure that every possible medical need can be addressed locally.

Residents of Wesley Chapel also enjoy professional sports with the Tampa Bay Buccaneers (the 2002 World Champions), Tampa Bay Lightning (the 2004 Stanley Cup Winners), and the Tampa Bay Rays (the 2008 American League Champions) all playing in venues just a short drive away. Tampa's Busch Gardens, the Florida Aquarium, Lowry Park Zoo, the Tampa Bay Performing Arts Center, Tampa International Airport, and the bustling Channelside and Ybor City areas of Tampa are all within a 30-45 minute ride.

Amid the natural beauty of west-central Florida, Wesley Chapel offers prospective residents both the opportunity to enjoy a more suburban lifestyle yet with easy access to the major-city arts, cultural and sporting venues in Tampa right next door.

January, 2010 Home Sales Volume Increase

2010-02-27T12:38:00.000-08:00

In January, 2010, 1,830 homes were sold in the Tampa Bay area which includes Hillsborough, Pasco and Pinellas Counties. This compares with the 1,628 homes sold during January of 2009. The average price of homes sold was about $161,500 while the median price (the point at which half the homes sold above and half sold below that level) declined slightly to $123,000.

This positive news is at least in part due to the extension of the Federal Home Buyer Tax Credit Program which offers up to $8,000.00 to first time buyers (or buyers who haven't owned a home in the last 3 years) and up to $6,500.00 to those who already own a home. Owners who currently own a home must have lived in their current home for 5 consecutive years over the past 8 years. Certain income limits do apply so you may want to contact me at (813) 263-6806 for those details.

Most real estate professionals believe we are either at the bottom of the market or close enough to it that this is the right time to take advantage of both the low prices and the tax-credit program. Buyers seem anxious to snatch up good deals now since all deals under this program must be under contract by April 30th and closed by June 30th, 2010.

The inventory of unsold homes on the market has been reduced to it's lowest level in several years with a 24% decrease in the number of homes for sale from January 2009 to January 2010.

Whether your interest is in a home or a condo, a newly-built home or an existing home or a bank-owned or short sale property, I can help you find exactly the right property for you and your family. E-Mail Me or call me at (813) 263-6806 today. I would be pleased to answer your questions and show you the many great bargains available right now here in Tampa Bay.

The Gasparilla Invasion of Tampa is Imminent

2010-01-29T13:01:00.000-08:00

On Saturday, January 30th, the world’s only fully-rigged pirate ship, the Jose Gasparilla, will magically appear at the south end of Hillsborough Bay. A multitude of pleasure crafts, all determined to defend the city, will boldly sail forth to meet the ship. But upon quickly seeing the error of their ways, they will join forces with the Captain and his Krewe’s flotilla. The tall-masted a 165' long Jose Gasparilla pirate ship with cannons booming will then sail across Hillsborough Bay and and attack the defenseless city of Tampa.

The colorful Tampa Bay "Gasparilla Invasion" will have begun.

In this annual re-enactment of Tampa’s historic pirate invasion, the Gasparilla Flotilla, led by the pirate ship Jose Gasparilla will dock at the Tampa Convention Center where the Mayor will surrender the Key to the City of Tampa into the hands of the Captain of Ye Mystic Krewe of Gasparilla.

Shortly thereafter, the jolly Krewe will launch a victory celebration in the "Parade of the Pirates" down beautiful Bayshore Boulevard. During the lavish parade, the captain and krewes will toss beads, coins and other items from their floats while shooting blank pistols as they proceed along bayshore Boulevard.

Average attendance for the parade event exceeds 400,000, so if you plan to attend go early to find a parking space, or better yet, take advantage of the many alternative ways to get to the event.

A week before the "Invasion" and the main parade, Ye Mystic Krewe of Gasparilla sponsors a family-oriented Children's Parade and "Piratechnic Extravaganza," with fireworks over Tampa Bay..

Shortly after the invasion celebration, a more adults-oriented Sant'Yago Knight Parade is held in the Ybor City district of Tampa running well into the early morning.

The annual Gasparilla celebration is just one of the many high-spirited events that make Tampa Florida amd its suburbs in Hillsborough, Pasco and Pinellas counties such fun places for families of all ages to live.

Another popular Tampa celebration is "Guavaween," held at the end of October. During the day, the family Fun Fest features live music, food, activities, and a children's costume contest. Other Tampa events include the annual Climb Tampa event, Race for Sight, the Gasparilla Distance Classic Marathon, the Bloom & Garden Festival and the USF Botanical Gardens Spring Plant Festival. There is an also almost constant flow of arts and cultural performances and events, many free to the public.

If you'd like to learn more about why Tampa and Tampa Bay may be just right for your next home, E-Mail Me or call me directly at 813-263-6806.

Fannie Mae Boosting Tampa Bay Condo Sales

2010-01-12T06:45:00.000-08:00

Fannie Mae just announced that it will start a thorough review of hundreds of Florida and Tampa Bay condominium projects with the prospect of providing them with a new "special approval" label. Fannie Mae wants to restructure mortgage approvals for certain projects that currently do not fit into Fannie Mae guidelines, which has made them difficult to sell.

To this point Fannie Mae, acting under guidelines enacted in March, 2009, has refused to approve and guarantee mortgages on condominium developments where more than 15 percent of owners are delinquent on their association dues.

Under the new program Fannie Mae will also consider the building's occupancy, association dues and the financial stability and physical condition of the development. The program will still be somewhat restrictive in that it will only accept new or newly-converted developments where at least 70 percent of the units are sold or under contract. Nonetheless, this program is expected to provide a huge boost to condominium sales over the next 9 to 18 months across Florida and particularly here in Tampa Bay.

Florida Realtors have been asking Fannie Mae to revise its overly restrictive condo lending guidelines for some time. Summer Greene, vice president and regional manager with Prudential Florida 1st Realty, said "This is good news for Florida and a step in the right direction for the state's condominium market." He believes this review will help put a more positive spin on the Florida condo market that has been decimated by the housing slump. It will begin to reduce reduce the enormous inventory of unsold condo units as more prospective condo buyers are approved by lenders for loans on these properties.

More than half of all mortgages in the U.S. are backed by Fannie Mae and the similar organization Freddie Mac. It is hoped that once the Fannie Mae program starts to show success, Freddie Mac will similarly restructure its approval process.

If you have been considering buying a condo in Tampa Bay but been reluctant because it has been difficult to find attractive mortgage terms, this program may very well be just what you've been waiting for.

E-Mail Me or call me at 813-263-6806 for assistance in learning which Tampa Bay condo developments qualify and offer the best value for your money. Then let me help you pick out the condo unit that fits exactly the dream you've had of a Tampa Bay condo of your own.

You may also want to visit my Tampa Bay real estate website to learn more about the attractive lifestyle offerred here in Tampa Bay, Florida.

Festive Holday Boat Parades - A Tampa Bay Tradition

2009-12-10T08:14:00.000-08:00

New York City may have its Macy’s Thanksgiving parade but here in Tampa Bay, we have a tradition of our own, the Tampa Bay Holiday Boat Parades.

These holiday boat parades feature boats of all sizes and shapes, adorned with festive lights, inflatable holiday characters and just as often, partiers aboard dressed as Santa and his elves or other holiday personalities. Some boats even feature live bands.

The parades are generally competitions, with judges determining awards in a variety of categories. After the parades, party-goers gather in local watering holes or go shopping for holiday presents in Tampa’s retail districts. Boat parades have become major Tampa Bay holiday events.

The city of Tampa holds two holiday boat parades this year, one held at the Davis Island Yacht Club parade on Dec. 13 and another, the Holiday Lighted Boat Parade, coming up on December 18th beginning at 6:30PM . Festively decorated boats will illuminate the sky and spread holiday cheer throughout the Channel District.

The Rough Riders will be accepting Teddy Bear donations during the parade and theirs will clearly be the boat to beat as they light up one of their best floats in honor of this holiday tradition.

Both Tampa holiday boat parades sail from the tip of Davis Island, through Sparkman Channel before turning west at Garrison Channel toward Channelside,

For those in the more southern part of Hillsborough County, Apollo Beach also holds a holiday boat parade that is generally well-attended and lots of fun.

Holiday boat parades, like so many other events that occur during all seasons of the year, are examples of why the Tampa Bay Florida is such a wonderful place for you and your family to live.

If you'd like to learn more reasons why the Tampa Florida metropolitan area is such a wonderful place to live and why right now is probably the very best time in years to buy a home or condo here, visit my Tampa Florida website or E mail me for more information. I'd be delighted to answer any questions you have and to show you the many wonderful home and condo bargains available right now throughout Tampa Bay.

You Don't Have to be a First-Timer to Take Advantage of the New Home Buyer Tax Credit

2009-11-07T05:42:00.000-08:00

The first-time home buyer tax credit, that Realtors have reported jump-started home sales this Summer and Fall, but due to expire at the end of this month, has been extended through April 30, 2010 by Congress and is on its way to President Obama for his promised signature.

The extension expands eligibility for the home buyer tax credit to people with higher incomes as well as to people who have already owned a home for at least the past five years. In either case, the buyer must sign a purchase contract on or before April 30, 2010 and close on the purchase by June 30, 2010. The $8,000 maximum first-time buyer tax credit will continue but will now be available to individuals with incomes up to $125,000 and joint filers with annual incomes up to $225,000. Home buyers with incomes up to $145,000 and couples with incomes up to $245,000 will be eligible for somewhat reduced tax credits.

Under similar income limits, a $6,500 maximum tax credit will be available to people who already own a home and want to move up to a larger home.

Under the new income limits, two-thirds of all American families owning a home today may be eligible to buy a new home. While buyers will not be required to sell their current home to qualify, the tax credit must be used to buy a new "primary residence", not a vacation home or investment property.

To keep speculators out of the program, people who claim the credit but then sell the home or no longer use it as their primary residence within three years will be required to repay the credit. The intent is to exclude from the program speculators who might purchase a home intending to flip it for a fast profit, according to Max Baucus, chairman of the Senate Finance Committee.

Here's a "heads-up" to those who may have considered buying a first home under the prior program but didn't quite get around to it.

"Contact a Realtor and get started now. You only have until April 30, 2010."

Congressional legislators in both houses have indicated that this costly part of the stimulus program will not be extended a second time. Critics point out that only about one-fourth of the homes purchased under the prior program would not have been bought anyway without the costly tax-credit program. There are also concerns that the previous tax credit program encompassed high numbers of fraudulent transactions. In this version of the program, the Internal Revenue Service has been given much wider authority to oversee the process to root out fraud.

If you are considering buying a first home or moving up to a larger home in the Tampa Bay Florida area I invite you visit my Tampa Real Estate website or for more immediate service, contact me by phone at 813-263-6806. I would be delighted to answer any questions you have.

Tampa September Home Sales Statistics Are Encouraging

2009-10-23T07:19:00.000-07:00

The following update on Tampa area real estate sales was recently issued as a news release by the Greater Tampa Association of REALTORS® (GTAR)

"With negative news emanating from virtually every area of the economy, September real estate statistics in Hillsborough County offer encouragement for the local market.

"In statistics released by the Greater Tampa Association of REALTORS® (GTAR) and the Mid-Florida Regional Multiple Listing Service, two important figures, total home sales and inventory of homes on the market, improved in September over the previous month. Sales rose to 1,345 last month, up slightly from the 1,327 sold in August. The number represents the highest monthly sales in the county since June, when 1,394 homes sold.

"The inventory of homes on the market in Hillsborough County dipped to 14.21 months, down from 14.68 months in August, the lowest inventory figure since June of this
year, but more significantly, the second lowest figure since December, 2006, when the
figure stood at 9.04 months.

“Most economists believe our recovery will be slow and steady,” says Carol Austin, CEO of GTAR, “and these latest figures, while not dramatic, reflect that forecast.” Deborah Farmer, President of the REALTOR® association, believes the latest statistics offer more hope for the real estate market in the future. “The fact that inventory levels are down significantly since the beginning of 2008 is a number that should not be overlooked,” she noted. “The January 2008 inventory stood at nearly 26 months. To see that figure at its current level is more than encouraging,” Farmer said."

My belief is in line with these thoughts. The Tampa and Tampa Bay real estate market is beginning to show real signs of life again. The $8,000 first-time home buyer tax credit has helped drive this upturn and it seems likely to me that Congress will extend, and may even expand, that program in 2010.

As it starts getting colder up North, it's time to start looking for that primary or seasonal home you've been wanting here in warm, sunny and inviting Tampa Bay Florida. Don't miss out on the current very attrative price levels. Prices will inevitably start moving up again as the economy improves and the inventory of unsold homes on the market contiues to fall.

Outdoor fun in New Tampa

2009-10-04T08:13:00.000-07:00

Bicycle Riding is great in Tampa Bay
In my opinion, there is no better exercise for kids and adults than biking. And, there are many opportunities for bicycle riding in the Tampa Bay area. Whether you are interested in riding on the road or off-road trail riding, you can ride year round in west -central Florida. Local clubs schedule organized rides ranging from rides with just a few to hundreds of riders. The Tampa Bay Freewheelers lists several weekly rides for different skill levels and have longer organized rides with hundreds of participants. The Tampa Bay Freewheelers is sponsoring their Hilly Hundred Ride on October 18 2009, with varying distances of up to 100 miles and several hundred riders. Team New Tampa and Team Grupetto are other Tampa area groups dedicated to road biking. The SWAMP Mountain Bike Club is “an Organization of off-road cycling enthusiasts who share in the fun and excitement of Florida Mountain Biking”.
New Tampa has a great places to ride called Flatwoods Park, a Hillsborough County Recreation maintained park with miles of off-road trails for mountain biking and a seven mile paved loop road for road biking, skating, walking and running. In the Tampa area, hills are something we do not have too much of. Tampa bike riders looking for hills can travel to nearby San Antonio, FL. A local bike shop (San Antonio Cyclery), put out this map San Antonio, FL showing several hilly routes (40, 50 and 60 mile options).
New to biking? you might want to read Bicycling Street Smarts by John C. Allen. Need to buy a bike? Bicycle Magazine has a review of entry level bikes.

Want more information on Tampa and Tampa Bay ? May I invite you to visit my Tampa real estate and lifestyle website.

A Magical Hidden Property For Sale in Tampa Bay

2009-09-29T14:21:00.000-07:00

MAGICAL is the word that describes this hidden property.

Calling old-time Florida lovers, this 7 acre tract in Hudson Florida, is a hidden time machine. The words tranquil, lush, wondrous describe this land.

Once you step on this property you will experience a transition to old Florida. Grand majestic oaks and enormous pines cover this private park. Own a magical piece of Florida, as this property has 3 fresh water springs. The property is mostly fenced.

Located close to the Hudson Marina, Hudson Beach, Hudson Elementary school, grocery stores and Bayonet Point Hospital. Owner financing is a possibility. Call to walk this property today. And, it is yours today for just $139,900. Call Cheryl Stimac, Broker at Red Shoe Realty, Inc. today at 813-263-6806 or cheryl@cherylstimac.com

Extend the Home Buyer Tax Credit - Yes or No?

2009-09-04T13:55:00.000-07:00

Capitol Hill may be vacant right now as Senators and Congressmen are home listening to their constituents, but real estate and home builder lobbying group[s are actively working on a full-bore campaign to extend the $8,000 first-time home buyer tax credit currently scheduled to expire on November 30, 2009.

As you may know, the American Recovery and Reinvestment Act of 2009 (the stimulus package) authorized a tax credit of up to $8,000 for qualified first-time home buyers purchasing a principal residence between January 1, 2009 and November 30, 2009. The program has been quite successful in reducing the inventory of unsold homes while helping many afford to buy a first home.

The National Association of Home Builders (NAHB) and the National Association of Realtors (NAR) are both hoping to persuade Congress to pass legislation to extend the tax credit as soon as possible after Congress returns to Washington next week. The two associations are contacting members of Congress even while they are in their home districts during their congressional recess. One of the things they are pushing for, in addition to an extension of the first-time home buyer credit, is to expand the program to cover all home buyers through the end of 2010.

Senate Majority Leader Harry Reid recently indicated that he believes “it's something we can get done.” Senate Banking Committee Chairman Democrat Chris Dodd and Republican Johnny Isakson are sponsoring a bill that would extend the credit through 2010 and expand it to a $15,000 maximum. In the House, two bills have been introduced to extend and expand the credit for either 6 or 12 months. Both the NAR and the NAHB organizations are strongly supporting these initiatives.

With this impetus, it seems likely that in one form or another, the tax credit will be extended into next year, but...

As we've come to understand, there is no such thing as a "sure thing" in Washington. NAR spokesman Walter Molony recently justified his organization’s support for the tax credit saying that it is reducing the inventory of unsold homes and stabilizing pricing, benefiting the economy since in his judgment house prices “overshot to the downside.” But, the NAR also estimates that 1.8 million to 2.0 million first-time buyers will take advantage of the $8,000 first-time home buyer tax credit before the current version expires. the program, as it now exists is expected to cost about $15.20 billion.

Viewed another way, NAR's own estimate is that only 350,000 of the homes sold under the program would not have been sold without the tax credit. If you now divide the $15.2 billion the program cost by only those 350,000 homes that would not have been sold without it and you get a whopping $43,000 per additional home sold. And, critics say, the numbers will only get worse if the program is extended and expanded to cover all home buyers.

These opposing views of the program could lead fiscal conservatives in both the Democratic and Republican parties to complain that any extension will only add to the ballooning national debt. Legislation that looks, at any given moment, as if it will clearly be enacted can be delayed, watered down, or frustrated in the House and filibustered in the Senate.

So, if you are in the market for a home, and particularly if you haven't owned a home in the past three years, so you qualify for the current $8,000 tax credit, you should be working with a Realtor like Cheryl Stimac, a competent and honest Tampa Florida real estate expert right now to buy the home you've been wanting so you can close on it before the November 30th expiration of the current program.

If you aren't already involved in buying a Tampa Bay home of your own, E-Mail Cheryl or call her at Red Shoe Realty, Inc at 813-263-6806 right away and get started toward owning your piece of the Tampa Bay, Florida paradise.

$1.8 Billion in Education Stimulus Money Coming to Florida

2009-08-12T09:10:00.000-07:00

The U.S. government recently released $1.8 billion in stimulus money for education to Florida, shortly after the state applied for a waiver required because the state has underfunded education in previous years.

"The $1.8 billion Florida is receiving is part of the single largest boost in education funding in recent history," Secretary of Education Arne Duncan said in a statement. 'Florida can now utilize these funds to save jobs and lay the groundwork for a generation for education reform."

Although the money is expected to plug holes in school-district budgets to save jobs, some of South Florida's school districts may still see some layoffs. School districts won't get the funds directly from Washington. Florida law makers, confident the state would get the money, allocated these funds to shore up the education portion of the 2009-10 budget the Legislature approved last month. That allowed legislators to tout a small increase in per-student spending in Florida.

In addition to the $1.8 billion in stabilization funds, Florida has received almost $600 million more in education stimulus dollars -- including about half the money the federal government designated for low-income schools, programs for disadvantaged students and other grants.

Another $891 million in stabilization money will also become available later this fall.

To receive the funds, the state had to assure the federal government that it would closely track education statistics, including annual student improvements, the effectiveness of state standards and assessments, and interventions in turning around under performing schools. The state will also be required to report how many jobs are being saved with the stimulus money, how the funds are used, and what state and local tax increases were avoided because of the federal dollars.

While all this spending may seem to be a mixed bag of benefits and downsides, there is little doubt that this infusion of money will help improve the schools around the state and here in Hillsborough and Pasco counties.

If you would like more information on any aspect of life here in Tampa Bay, feel free to E-Mail me with your questions or visit my Tampa Bay Florida real Estate website.

Foreclosure VS Short Sale

2009-06-01T13:40:00.000-07:00

HELPING HOMEOWNERS IN DANGER OF FORECLOSURE

RED SHOE REALTY has earned the Certified Distressed Property Expert (CDPE) designation, having completed extensive training in foreclosure avoidance and short sales. This training will mean a lot to us to be able to help homeowners that may be facing the foreclosure process.

A Short Sale allows a homeowner to repay the mortgage at the price that the home sells for, even though it is lower than what is owed on the property. With plummeting property values, this can save many people from foreclosure and even bankruptcy. More and more lenders are willing to consider short sales because they are much less costly than foreclosures.

In the Tampa area, thousands of homes are in danger of foreclosing. It is happening in all price ranges. Local experts say that even high-priced homes are not immune.

“My training and experience in dealing with lenders in negotiating short sales will be invaluable as I work with sellers and lenders on complicated short sales”. Our focus in this is to help homeowners who may feel paralyzed by their circumstances.

The Distressed Property Institute training in short sales can offer the homeowner much better alternatives to foreclosure, which virtually destroys the credit rating. Having this training allows me to better understand market conditions and can help sellers through the emotional experience.

“Our goal is to help as many homeowners as possible”.

The following chart compares the implications of going through a foreclosure with the implications of a short sale. I have also copied an article from the Wall Street Journal (June Fletcher, November 22, 2008) that illustrates some of the complexities of dealing with foreclosure compared to a successful short sale. (I hope you don’t have 12 properties in foreclosure.)

	Foreclosure VS. Short Sale Homeowner Consequences
Issue	Foreclosure	Successful Short Sale
Future Fannie Mae Loan Primary Residence	A homeowner who loses a home to Foreclosure is ineligible for a Fannie Mae backed mortgage for a period of 5 years.	A homeowner who successfully negotiates and closes a short sale will be eligible far a Fannie Mae backed mortgage after only 2 years.
Future Fannie Mae Loan Non Primary	An Investor who allows a property to go to Foreclosure is ineligible for e Fannie Mae backed investment mortgage for a period of 7 years.	An investor who successfully negotiates and closes a short sale will be eligible for a Fannie Mae backed investment mortgage after only 2 years.
Future Loan with any Mortgage Company	On any future 1003 application, a prospective borrower will have to answer YES to question C in Section VIII of the standard 1003 that asks “Have you had property foreclosed upon or given title or deed in lieu thereof in the last 7 years?” this will affect future rates.	There is no similar declaration or question regarding a short sale.
Credit Score	Score may be lowered anywhere from 250 to over 300 points. Typically will effect score for over 3 years.	Only late payments on mortgage will show and after sale, mortgage will be reported as paid or negotiated. This will lower the score as little as 50 points if all other payments are being made. A short sale’s affect can be as brief as 12 to 18 months.
Credit History	Foreclosure will remain as a public record on a person's credit history for 10 years or more	Short sale is not reported on a credit history. There is no specific reporting item for “short sale”. The loan is typically reported “paid in full, settled”.

	Foreclosure VS. Short Sale Homeowner Consequences
Issue	Foreclosure	Successful Short Sale
Security Clearances	Foreclosure is the most challenging issue against a security clearance outside of a conviction of a serious misdemeanor or felony. If a client has a foreclosure and is a police officer, in the military, in the CIA, Security, or any other position that requires a security clearance, in almost all cases clearance will be revoked and position will be terminated.	A Short Sale on its own does not challenge most security clearances.
Current Employment	Employers have the right and are actively checking the credit regularly of all employees who are in sensitive positions. A foreclosure in many cases is ground for immediate reassignment or termination.	A short sale is not reported on a credit report and is therefore not a challenge to employment.
Future Employment	Many employers are requiring credit checks on all job applicants. A foreclosure is one of the most detrimental credit items an applicant can have and in most cases will challenge employment.	A short sale is not reported on a credit report and is therefore not a challenge to employment.
Deficiency judgment	In 100% of foreclosures (except in those states where there is no deficiency) the bank has the right to pursue a deficiency judgment.	In some successful short sales it is possible to convince the lender to give up the right to pursuit a deficiency judgment against the homeowner.
Deficiency Judgment (amount)	In a foreclosure the home will have to go through an REO process if it does not sell at auction. In most cases this will result in a lower sales price and longer time to sale in a declining market. This will result in a higher possible deficiency judgment.	In a properly managed short sale the home is sold at a price that should be close to market value and in almost all cases will be better than an REO sale resulting in a lower deficiency.

Wall Street Journal November 22, 2008
Short Sale vs. Foreclosure
In default and underwater on 12 properties, a reader wonders if selling at a loss is any better than just walking away

By JUNE FLETCHER

Q. I am in default on 12 jointly-owned properties that I am trying to liquidate as part of a divorce. All of my properties are currently worth less than the mortgage balances, due to the tough real estate market. I am aware that I will likely be taxed for the amount of the mortgage I had that is not satisfied by any particular short sale. It seems that this would not be the case if the house is foreclosed on, or becomes bank-owned.
This almost encourages homeowners to allow foreclosure, rather than to participate in helping to sell the property (when there is no equity left), because there is not "an amount forgiven" to be taxed on. I recognize that the benefit of short-sale is to lessen the effect on one's credit report, but if a homeowner is already missing payments, how much worse will a foreclosure look?
A. Although you own an unusual number of homes, your dilemma in trying to choose between a short sale and a foreclosure is, sadly, not at all unusual these days. So I asked Craig Watts, public affairs manager of Fair Isaac Corporation in San Francisco, to comment on your case. Fair Isaac is the company that created the FICO score, used by lenders to assess borrowers' creditworthiness.
Mr. Watts said that the company assesses every negative on a credit report by three factors: recency (how recently did the negative event occur), severity (how late is the payment) and frequency (how many times you've been reported delinquent on credit obligations).

A recent bankruptcy does the most damage to your score. Mr. Watts adds that if lenders are reporting all of your mortgages as in default, the damage to your FICO score would be akin to declaring bankruptcy on all 12 accounts. For more information on credit scores and how they are calculated, visit the "credit education center" at http://www.myfico.com/.
Although a short sale, where the lender agrees to take less than owed on the mortgage, will drop your FICO score as much as a foreclosure will, there is one advantage to it: You may be eligible to buy a home with an institutional loan backed by Fannie Mae or Freddie Mac more quickly than you would if it went into foreclosure. Lenders encourage short sales over foreclosures because they generally net more from them, since foreclosures incur additional marketing, legal, processing and carrying costs. (For details, see Fannie Mae's announcement 0-82.) Borrowers can be considered for loans following a short sale aftter 24 months, if the sale was caused by extenuating circumstances outside of a borrowers' control, or 48 months if it was the result of financial mismanagement on the borrower's part, according to Freddie Mac public relations director Brad German.
As for your tax situation: because of the Mortgage Forgiveness Debt Relief Act of 2007 and the recently passed Emergency Economic Stabilization Act, you can exclude up to $2 million of income ($1 million if married filing separately) from debt that's discharged through mortgage restructuring, or that's forgiven in connection with foreclosure, for the years 2007 through 2012. The exclusion must be connected with a decline in the home's value or the taxpayer's financial condition, and only applies to a principal residence, not investment properties. You can claim relief on your principal residence through IRS form 982. However, Mike Martin, a financial consultant and tax advisor in Independence, Mo., notes that there may be other provisions in the law that can help you: For instance, if you are insolvent when your debt is cancelled, some or all of that debt may not be taxable.
Given the complexity of your situation, please don't try to resolve this situation on your own: Seek professional tax and legal advice.

2009-05-19T12:00:00.000-07:00

Why Conserve Water

To some of us, Florida seems to be a land with unlimited water resources, but
closer examination shows that this is not the case. Population growth has been tremendous in all of Florida and especially in the Tampa Bay area. Early in our history, water supplies were very inexpensive and were located in or close to our towns. As our area grew, we used up our cheap and near–by water supplies. Early in the 20th century, withdrawals in Tampa and Saint Petersburg caused saltwater intrusion and therefore further reduced the locally available supplies. This caused the cities to reach out into rural areas for their water. In the Tampa Bay area, water supplies were either obtained from large inland area well fields or from the Hillsborough River. Initially, we thought that large well fields were a perfect solution, the water was cheap, excellent quality, and had the added benefit of drying out swamps.

As ground-water withdrawals increased and we began to better understand the environmental value of wetlands, the impacts to lakes and wetlands from the regional pumping became devastating. Hundreds of acres of wetlands and dozens of area lakes were dried out. As the City of Tampa’s water needs increased, pumping from the Hillsborough River increased to a point where the City took all of the flow in the river. Consequentially, during some times of the year, no fresh water was allowed to flow over the dam to Tampa Bay. As the City’s pumping increased and we better understood the environmental impacts to the Bay from reducing the fresh water inflows, we recognized that the river and the bay were being harmed by loss of estuary habitat. The bay depends on a steady clean freshwater diet to create the highly fertile nursery areas and low-salinity habitats that the estuary’s ecosystems and sport fisheries. The impacts to the lower river and the bay were aggravated by storm-water pollution.
All of these man-induced problems caused by over-pumping are aggravated by the variable nature of rainfall. Although Florida gets about 50 inches of rainfall on average, in some years we get less than 40 inches and in some years more than 60. In the less than 40 inch years, we see more impacts from pumping and in the more than 60 inch years we see flooding.

So Why Conserve? Conserve water not just because we need more water to fuel our growth, but because we need more water to fuel ourselves, (people who already live here). We have to develop alternative sources of water both for more people to move here and because we have to change some of the existing sources that are hurting our natural environment. But Why Conserve? Because conservation is one of the least expensive sources of water possible today. Other alternative sources (desalination, other surface waters, reclaimed water, and long distance pipelines) are much more expensive than conservation. In the same way that energy conservation allows a city or utility to postpone building a new generating plant, water conservation allows us to forego construction of a new and likely much more expensive water supply.

What is meant by Conservation?
Modern water conservation simply means being more efficient in using water so that we can do all the things that we want to do with water, but do them with much less water. We want to plant landscapes that require little or no irrigation but still are lush and green and pleasant to look at. We want to install highly efficient plumbing features (toilets, shower and sink faucets, outside irrigation controllers) in our new homes (and retrofit our older homes) so that we use less water for the same purposes. If you buy a new home in our area, your home will most likely have very high efficiency plumbing. If you buy a resale older than 15 or 20 years old, you could benefit from installing higher efficiency plumbing fixtures.

Much of the hard part or work of conservation is mental. We have to change how we think of water from a cheap plentiful unlimited resource to a scarce extremely limited resource. One of the best tools for conservation is inclined or increasing utility rate. Under an inclined rate we pay more per gallon for our water the more we use. For the first 1000 gallons per month we might only pay $2 or $3 per 1000 gallons, but for the next 1000 gallons per month the rate is increased to $4 or $5 per thousand.

Planning to Sell - Focus on Your Kitchen

2009-04-22T09:16:00.000-07:00

When it's time to put your home on the market, many real estate experts recommend that you focus on updating the kitchen first. For many potential buyers, especially the wives, the kitchen may be the most important room in the home. The condition and appearance of the kitchen has the power to make or break a sale.

So, if you want your home to sell quickly at a good price, do everything you can to enhance it before you start showing the home to buyers. Remember however as you appraoch this task that the money you spend is a cost of selling. Don't do a complete remodelling unless the kitchen really needs it. A good Realtor, like Cheryl Stimac, a Tampa Bay Florida real estate expert can give you advice on the extent of remodeling that you should invest in.

Start by creating space. You want you kitchen to look large, light and roomy. Clear the counters of all clutter. Take everything you can out of drawers and shelves and move it into storage. Remove all those magnets from the refrigerator and if the refrig looks scratched, give it a fresh coat of porcelain paint. What you want them to see is a warm, open and inviting space, not your old pots, pans and toaster.

Consider fresh paint. Paint is the most profitable improvement. A fresh coat of light, neutral colored paint on your kitchen walls will make them look spotless and new. Exactly the look you want.

Pay particular attention to the sink. If your faucet looks old and dated, replace it with a new one. It will go a long way towards improving the look of the whole kitchen, for very little money.

If your counter tops look old and tired, you should consider new ones. Today you can buy corian or even granite countertops at reasonable prices. Talk to your local Home Depot or Lowe's hardware satore. Remember to stick with neutral colors, nothing too flashy.

Check the stove and oven. The oven should be spotless. If the stove is a glass-top mmodel, scrub it until there is no residue at all on it. A sparkling range looks great. A dirty one laeves the prospect wondering if the rest of the house is any better maintained. Don't let them even "go there".

Freshen up the cabinets. Replacing cabinets is expensive and seldom makes a good investment. But you can paint them, or put new, modern looking pulls on them for very little money. A fresh rub-down with a good cleaner-polish will give them a fresh look.

Check the windows. You'd be amazed how many people forget to wash the window over the sink or the sliding glass doors next to the dining area. if the trim looks dull, a fresh coat of paint there will also add sizzle.

Finally, a trick that works amazingly well. Just before prospective buyers come, bake a fresh batch of cookies in your oven. And, yes, leave the cookies out for them to sample.

In short, buyers will quickly notice any shortcomings in your kitchen, so do everything you can to freshen it up and give it a modern, open, airy and spacious and "inviting" look.

Are Home Mortgages Really Available Right Now ?

2009-04-14T08:59:00.000-07:00

The simple answer to that question is is "yes" but the mortgage you might get today will be way different from the one you might have gotten away with as recently as a year or two ago. There are at least four mortgage sources you might want to consider if you are hoping to buy a home in the Sarasota area while prices are still low.

Before the big "mortgage meltdown," people were able to qualify for a mortgage without even having to prove their actual income, among other things. Today, you'll not only have to be able to document your famly income, but you'll also have to provide information on other assets and liabilities that you have. Mortgage lenders also now want to accurately measure your "debt-to-income ratio", that is, what percentage of you total and take-home pay will be consumed by this mortgage if it is approved. And, there are now few, if any, no-down payment or ridiculously-low down payment loans.

If you meet these qualifications, there is mortgage money available. Mortgage approvals are now based on the more reasonable bases on which mortgages were granted before all the foolishness began a few years ago and the mortgage business eventually crashed and burned when the housing bubble burst. Mortgages being provided today "have to make-sense" in terms of the borrower's ability to repay the loan over time. No longer can you and/or the mortgage provider bet on housing prices going up and up forever so regardless of how silly the situation was at mortgage origination, there would be endless increases in the value of the home
to "bail both the buyer and the mortgage company out the ridiculous mortgage granted." Nonetheless, there are mortgages available today to those who can qualify for them.

FHA-insured mortgages

Federal Housing Administration (FHA) -insured mortgages have been available for decades, focused predominantly on low-to moderate-income families who may not meet
requirements for a conventional loan with a 20% down-payment required. FHA-insured mortgages can require as little as 3.5% down payment with no pre-payment penalty. Credit scores and debt-to-income ratios have been relaxed somewhat to allow more families to buy one of the many homes on the market right now.

Of course, there is always, "good news" and "not so good news" in situations like this. First the "not so good news." With the lower down-payment on an FHA mortgage comes an upfront "mortgage insurance fee" that must be paid at closing plus a monthly mortgage insurance premium (MIP) that essentially adds a half-percentage point to your interest rate.

But the "good news" is that your Realtor, working with the seller and mortgage provider, can structure your loan so that the home seller pays all or nearly all of your closing costs, other than the 3.5% down payment. In the current market environment, many home sellers are willing to participate in this type of arrangement to get their home sold.

FHA-insured mortgages with the lowest interest rates will go only to buyers with a debt-to-income ratio of less 33% or less where your "debt" is the total monthly cost of the home, including principal, interest, property taxes and insurance (PITI) plus any other monthly debt you owe like auto payments, credit card debt, student loans, etc.

Under the stimulus package signed by President Barack Obama last month, more American families will now be eligible to purchase or refinance their homes using affordable FHA-insured mortgages. This act allows increases for the year 2009, in the maximum loan limits for FHA, Freddie Mac, and Fannie Mae loans. These
limits are equal to the greater of 125% of the 2008 local area median home price or $271,050 for FHA, and $417,000 for Fannie and Freddie, with an overall maximum cap of $729,750.

Credit Union Loans
While they tend to issue mortgages only to their own members, the credit union you may participate in at work or in your community may also be a source of an attractive mortgage. Most credit unions avoided the mortgage melt-down because they stuck to solidly-based mortgage underwriting principles. As not-for-profit firms, credit unions had no incentive to get involved in the "make a quick buck on closing fees and sell it off the same day" sub-prime mortgage schemes and scams.

Credit union fixed and adjustable rate mortgages (ARMs) are often written at lower interest rates than are available at conventional banks.

"Hope for Homeowners" Mortgages
The "Housing and Economic Recovery Act of 2008" created "Hope For Homeowners" (H4H) program which allows troubled mortgage holders to avoid facing foreclosure by refinancing their existing mortgage into a more affordable, FHA Secure mortgage, provided the federal government participates in any increase in the value of the home over time and the holder of the existing mortgage agrees to go along with the re-financing. This program increases the allowable loan to value ratio (LTV) to 96.5% for some H4H loans and allows lenders to extend mortgage terms from 30 to 40 years further reducing the monthly payment. More information on H4H loan programs is available on the HUD Hope for Homeowners website.

The American Recovery and Reinvestment Act of 2009 (ARRA)
The ARRA offers assistance to first-time home buyers by providing an $8,000 tax credit for the purchase of a principal residence between January 1, 2009 and December 1, 2009. The tax credit is claimed on your tax return reducing the purchaser's income tax. Two bonus features of this program are:

The tax credit does not have to be paid back

If any credit amount is unused, that amount will be refunded as a check to the purchaser.

Local and State Programs in Your Own Area
If you are a first-time homebuyer or a low-to-moderate income family, you should investigate whether ther are local or state housing assistance programs that can be helpful. Some programs offer very low-interest loans or even grants to families these agencies want to attract into their communities. These programs are also sometimes aimed at municipal employees, police officers, firefighters and other first-responders the local area has difficulty recruiting.

So...are mortgages available right now? The answer is definitely "yes. Mortgages are definitely available" and you should contact your Realtor today to see if you can qualify for one of these programs.

I would be delighted to help you find both the right home and the right mortgage for your circumstances. Vist my Tampa Bay Florida real estate website or call me at 813-263-6806.

The Seller Can Help You Buy Their Home

2009-04-10T12:18:00.000-07:00

If you and your family are ready now to buy your first home, but you're not sure you have enough cash stashed away, there are ways in which a home seller can assist you in buying his home. A competent Tampa Bay Realtor can review all of your options but here are a few examples.

FHA MORTGAGE WITH SELLER FINANCED CLOSING COSTS
An FHA mortgage requires as little as 3.5% of the purchase price as a down payment. These mortgages have been available for years. Your Realtor, working with the home seller and an FHA-approved mortgage provider, can structure a mortgage loan so that the seller pays all or nearly all of your closing costs. The seller cannot assist you with the 3.5% down payment, but can pay just about everything else at your closing. In the current market environment, many home sellers are willing to participate in this type of arrangement to get their home sold.

SELLER-PAID BUY DOWNS
There are many variations of "Buy Downs," Some are permanent, where the interest rate is reduced over the full life of the loan. Other buy downs are temporary, reducing your interest rate, and therefore your monthly payment, for the first 1 - 3 years. The most popular is what's known as a "3-2-1 Buy Down." Here's how it works. For the first year your rate is 3% below the market interest rate; the second year 2% below, and for the third year the interest rate you pay is 1% below the agreed-upon interest rate. This allows you to grow into your loan payments over 3 years. If you expect your family income to grow over that period by enough to cover the eventual cost, this may be an attractive option for you. "Buying down" your first 3 years of loan payments in this manner will cost the seller about 4.5% of the loan amount. Here is an example on the purchase of a home with a $225,000 mortgage with a fixed rate of 6.5%. The full monthly rate on this mortgage would be $1,422.15/month. Using a 3-2-1- buy down, the first year's payments would be $1,010.35, the second year's is $1,140.04, the third year's - $1,277.53, and then for the remaining 27 years, $1,422.15. The "buy down" of the first 3 years payments saved you, the buyer, over $10,000 in mortgage payments in addition to making your payments more affordable for those first 3 years.

There are other buy-down processes your Realtor can discuss with you. Another popular one is a 2-1 buy-down which works like the 3-2-1 program but reduces the interest rate for only the first two years.

SELLER FINANCING
Less frequently, but occasionally, there are sellers who own their home outright (no mortgage on the property) who will agree to assist you by holding your mortgage. In this case, you do not have to qualify through the normal bank financing route. In effect the seller, instead of a bank or other mortgage company, becomes your mortgage provider. Such a mortgage can be written with essentially any terms and conditions that you and the seller agree upon ranging from financing 100% of the purchase price to requiring a minimal or larger down payment, with or without a "balloon payment" at some point in the future, and for a term of 10, 15, 25 or 30 years.

Such private lenders frequently charge a higher interest rate and may try to use this approach to get the highest possible price for their property. So protect yourself by working with a competent Realtor who can make certain that you are not over-paying for the home you want.

The point of this discussion is this. if you'd like to buy a home now, one of these seller-assisted approaches may work for you. Don't be scared off because you don't think you have enough saved up yet. The price of homes and the interest rates are as low right now as they have been in a long time. Meet and discuss your options with a competent Realtor like Cheryl Stimac, a Tampa Florida Real Estate professional. Got questions about all this? Call Cheryl Stimac today at 813-263-6808 or email her at cheryl@cherylstimac.com

You may be closer to your dream of home ownership than you have dared to hope.

Important announcement!

2009-02-20T14:07:00.000-08:00

Pasco County Florida is in line to receive close to $ 19 million in funds to help home buyers.
Home buyers can receive up to $30,000 in home buyer assistance. Please contact me at 813-263-6806 so I can help you access these funds for the purchase of a home in Pasco county. Yes there are requirements and you must take a home buyer class. Funds are being distributed to different programs so don't waste any time to get qualified for these monies.

Getting Involved with "Green' Building in your Home

2009-01-11T08:36:00.000-08:00

As we end the arguably "troubled" year of 2008, it might be uplifting to consider something we could all get involved with in 2009 to begin moving our ourselves, our planet and, in particular, our homes toward a more eco-friendly an sustainable lifestyle.

Yes, owning a home of your own is clearly the ultimate "American Dream", but some of us now want to go further and move our homes is the direction that has become to be known as "green".

Some may want to build their own green home from scratch. For those, the trend to "building green" calls for using materials that are environmentally friendly, designing spaces to utilize energy more efficiently, furnishing the home with Energy Star-rated appliances, and avoiding waste and using natural resources as much as possible. For others, becoming more green, may involve just remodeling or updating your home. In either case, there are many resources on the Internet to help you find your way.

As the author of the greenhomebuilding.com website says, "The reason for building greener homes is really quite important. We need to live more lightly on the earth, because the degradation of our environment is ompromising not only our survival, but the survival of most other living beings on the planet. We can no longer ignore the impact we have on the earth's ecosystems. nbsp;The way we live, the choices we make in providing for our needs, will have an enormous influence on the quality of life of those who will follow us."

If you’re looking for tips, plans and pointers to consider as you contemplate perhaps building that "green home," or just employing an environmentally-friendly approach in your remodelling, there are many Internet-based website resources that offer information and assistance:

GreenHomeBuilding.com This website offers a wide range of information about sustainable architecture and natural building including plans,
designs and other resources that help get you started with ideas for your own green home. In addition to eco-friendly (sustainable) designs, you also have find options that focus on local architecture and use of indigenous materials. You can also seek expert opinions or buy building codes and other resources.

GreenHomeGuide.org is a guide maintained by the United States Green Building Council. This website offers comprehensive information on green-home programs, green remodeling guidelines for remodeling kitchens, baths, flooring and more... even landscaping as well as many other resources. You will learn how to get your home Leadership in Energy and Environmental Design (LEED) certified and other interesting facts and figures.

GreenBuilding.com: The author of this site, green building expert David Johnston, is a leading thinker behind the green building movement, transforming the way we think about the American home. His approach to green building has been embraced by municipalities, homeowners, building professionals and sustainability advocates nation-wide. Johnston’s current book, "Green Remodeling: Changing the World One Room at a Time," co-authored with fellow green building consultant Kim Master, and available on Amazon.com has been hailed as the definitive guide to green remodeling techniques. This website explains how a green home should be constructed and offers links to professionals in the field. The website also contains many "fast facts" about the waste that goes on in a typical home. You can also learn how to go about a green remodeling project or talk to experts on energy to learn how your home can benefit from such investments.

BuildingGreen.com offers a live feed of news items related to green building from around the world. Other links offer access to green projects, products and informative articles.

GreenIsUniversal.com While this site offers some of the same resources to help build sustainable, eco-friendly homes offered by other websites, this site also offers a Virtual Reality Game where you can play at building your own green home online.

If you'd like more information about this topic, I would be pleased if you would contact me by E-Mail or by phone at 813-263-6806. You may also want to visit my Tampa Bay Florida real estate website.

Tampa Bay Real Estate Market Poised for Recovery

2008-12-11T11:34:00.000-08:00

I read a very intriguing article this morning which was written by James A. Crumbaugh III, CEO of Allison James Estates & Homes. I am copying the content of that article here because I believe Mr Crumbaugh is absolutely right in his understanding of WHY the Tampa Bay real estate market is poised to have a much better year in 2009 than 2008 has been.
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RISMEDIA, Dec. 10, 2008- I’m always accused of being overly optimistic about the real estate market. You have to understand that after 35 + years in the business, everything is just a cycle to me and when we go through a cycle like we’ve been going through, then my thoughts become “How long will the cycle last?”

You may have read my previous article titled The Perfect Storm, where I discussed the reasons that I thought this real estate market was poised to turn around. We are seeing the market improve almost on a daily basis recently. Is it the facts that I stated in my article that is causing the turn around? Absolutely that’s part of the turnaround.

However, there is another dynamic at work here. I’ll call it the "Obama Effect." I voted for John McCain, but I’m sensing an optimism starting to build in this country. I will give President Elect Obama credit where credit is due, and I will be the first to admit that at this point he is being very proactive at turning around the financial crisis in this country.

As the optimism improves, and I think it will, from here to the inauguration, and for the honeymoon period following the inauguration, we will continue to see an improvement in the optimism in this country.

With the automotive bailout, real estate is bound to improve in the Michigan area and probably the entire rust belt, therefore improving Florida real estate. The retirees will be able to sell their homes in Michigan and retire to Florida or other states popular among retirees.

The public works project will put hundreds of thousands of workers back to work and at good wages. I still believe we have a pent up demand for the last three years of buyers wanting to buy. Once these buyers are employed again and flush with income, the market will start to improve.

Then you have very low fuel prices that allow the consumer more discretionary income to spend.

Then we have the potential for mortgage rates as low as 4½% .

When you start to take a hard look at where we are poised as an industry, no matter how pessimistic you are, you have got to believe we are in for a return of a good real estate market in Florida, if not an excellent real estate market.

The stars are lining up:

- An improved automotive market
- Low fuel prices
- Workers going back to work
- Good wages
- Low real estate prices
- Low mortgage rates

I’m becoming more optimistic just writing this article. I don’t believe you can argue the facts as I just them pointed out. Things are looking up for the Florida real estate industry..........

James A. Crumbaugh III is CEO of Allison James Estates & Homes.
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If you are a retiree, a real estate investor, or a broker or realtor, better times are coming in 2009 because the bear market in housing is about to turn around and it will turn around soon.

If you are ready to learn why, if you are going to invest in Florida real estate, Tampa Bay Florida is the right place to do it, contact me by E-Mail or complete my Tampa Florida Information Request Form. In a hurry ? Then call me directly at 813-263-6806.

Go "Green" for the Holidays

2008-12-03T16:49:00.000-08:00

With our economy faltering and the new awareness of a more eco-friendly approach to living, we're all more focused on being "green" these days - with respect to both our wallets and the environment. The holiday season can be a challenge for both of these interests with gifts to buy and wrap, decorating to do, holiday parties to throw and on and on.

It has been estimated that during every week between Thanksgiving and the New Year, an extra one million tons of waste will be generated in the U.S. alone. It's been estimated that 38,000 miles of Christmas ribbon are tossed away each year - enough to ribbon more than once around the Earth!

Rather than waiting for New Year's Resolution time to bcome more "green," try a few of these eco-conscious tips to help you and your family live, give and save green this holiday season.

Go with the Glow
The holidays just wouldn't be the same without the twinkly glow of strings of lights along rooftops, eaves and in trees and shrubs. But those holiday lights are a real drain on your energy bill. LED lights use less than 10% of the electricity consumed by traditional filament bulbs and can save you close to 95% on your electricity bill.

Stay Home for the Holidays
Save time, money and stress. Stay home for the holidays this year saving money for gas and reducing pollution. use-less-stuff.com reports that if every American family reduced holiday gas consumption by just one gallon, that would mean driving just about 20 miles less, we would reduce greenhouse gas emissions by one million tons. So think about enjoying the holidays this year at home.

Get Creative with Wrapping
Mass-produced wrapping paper generally is not recyclable and ends up in landfills. Instead, get creative. Wrap presents in old maps, the comics section of a newspaper, or in your children's artwork. The Sierra Club estimatges that if every family wrapped just three gifts this way, it would save enough wrapping paper to cover 45,000 football fields. And, does that pre-formed bow actually make the present all that much more attractive? Think about leaving those off your presents this year.

Give the Gift of Giving
Upgrading your electronic toys and computers this year? Do you have electronics, toys, appliances or clothes that your family no longer needs or uses? Donate those items to a local charity or shelter. You'll get rid of clutter, and, you'll keep all that stuff you donate from ending up in a landfill. Are you a neat-nik with nothing extra lying around the house? Think about making modest cash donations to local charities or food items to a local food bank and telling the folks you'd normally give some silly (and probably unwanted) gift to, that you've made a donation instead. If you know your friends' favorite charities, your donations may be even more appreciated. You'll be helping to reduce waste and at the same time, you'll be making someone's holiday a little brighter than it might have been.

Save A Shoppng Bag and a Tree
Instead of coming home with 15 shopping bags, all of which will end up in the trash, bring your own eco-friendly bags to the store. If you're afraid of being stopped for shoplifting, Danny Seo, author of "Simply Green Giving," fastens receipts to the outside of his bags with a binder clip he brings with him, clearly indicating that what is indisde was ought and paid for.

For your Christmas tree, go "real." Fake trees are petroleum-based and they are not biodegradable." One answer, depending on where you live, is to buy a live tree and plant it in your yard next Spring. Or get a fresh-cut tree and, after the holidays, take it to a recycling facility, where it can be turned into mulch.

Give Green, Live Green and Save Green
Make this your holiday slogan. These simple steps make it easy to bring a little more "green" to the Earth and save a little "green" in your wallet this holiday season. Have ideas of your own ? Write us a comment with your suggestions.

Happy Holidays to You and Yours

More Federal Help for Tampa Bay Foreclosures May Be Coming

2008-11-01T12:38:00.000-07:00

A number of U.S. government agencies are working together on a new plan that could help 3 million homeowners avoid foreclosures. These negotiations could still fail, but federal government agencies are contemplating using $50 billion of the recently-passed federal bailout plan to guarantee up to $500 billion of residential home mortgages. Florida, because of its enormous reliance on the real estate industry, could benefit greatly under this plan since the housing meltdown has had a major negative effect on the state's economy.

Under the plan, the government would agree to absorb half of the losses on home loans if the mortgage company agrees to lower the borrowers'
monthly payments for at least 5 years. Details f how the plan would work are still being negotiated but this is the cetnral concept of the plan at this point.

In another recent development, more than $540 million in federal funds is coming to Florida, earmarked to purchase foreclosed homes at a discount. “Florida has felt the sting of our nation’s housing market challenges, and these funds will provide a welcome boost to our state’s economy by helping Florida families stay in their homes,” said Gov. Charlie Crist.

Governor Crist credited Florida’s Congressional delegation with securing the support from the U.S. Department of Housing and Urban Development’s Community Development Block Grants under the Housing and Economic
Recovery Act of 2008 passed by Congress earlier this year. The funds will provide assistance to state and local governments to acquire and re-develop foreclosed properties that might otherwise be abandoned and blight their neighborhoods.

Florida had the nation's second-highest foreclosure rate in September, an ignominious record achieved by beating out depressed housing markets in California and Arizona, according to the firm RealtyTrac. Foreclosure filings last month afflicted 47,956 Florida properties, or one in every 178 homes. Only Nevada, with one in 82 properties facing foreclosure, is worse off. Hillsborough County showed the biggest monthly increase in Tampa Bay with 4,663 properties falling into foreclosure in the month. Pinellas County had 1,813 foreclosure cases, while Pasco and Hernando counties had 1,175 and 374 cases, respectively.

"Anything we can do to get foreclosure numbers down will quicken the stabilization of the market," said Ritch Workman, president of the 2100-member Florida Association of Mortgage Brokers.

The new federal government foreclosure-assistance program now being negotiated would be run by the Federal Deposit Insurance Corp (FDIC).

No one understands that process involved in short sales and foreclosure sales than an experienced Tampa Bay real estate professional like Cheryl Stimac. You can visit her Tampa Florida real estate website or call her directly at 813-263-6806 for further information.

Home Selling - Target Your Buyer Audience

2008-10-02T13:32:00.000-07:00

Have you noticed how political campaigns target specific groups of voters? The needs of each group are identified and addressed separately, because politicians recognize that the voting public is not a single, generic person, but a collection of millions of different personalities.

When selling your home, targeting your home properly could be your most important strategy because buyers have different needs and desires, just as voters do. When listing your home, ask your Realtor for details about the marketing plan he or she intends to use to attract different segments of the home buying population.

"Targeted" marketing, as pointed out in Cheryl Stimac's most recent newsletter, is an extremely effective method of attracting home buyers. No one understands that process more than an experienced real estate professional like Cheryl Stimac. You can visit her Tampa Florida real estate website or call her directly at 813-263-6806. You will be glad you did. If you'd like to subscribe to Cheryl's newsletter, you can sign up at her Newsletter Request Form.

8 Ways to Reduce Your Florida "Carbon Footprint."

2008-09-03T10:21:00.001-07:00

Today many Floridians are looking to conserve energy to save money but also to reduce their "carbob footprint" by making their home more “green.”

The biggest source of pollution in Florida is our coal-powered power plants so reducing the use of electricity in your home will make a big dent in your home's carbon footprint as well ss your energy bill. Electricity used to air condition your home, run your swimming pool filter pump, and in many homes, heat the pool and run your water heater account for nearly 75% of your electicity usage. Here are some suggestions of ways to reduce the amount of electricity and energy consumed by your Florida home.

1 - Keep your home's thermostat at 78 degrees while you are home and at 82 degrees when you're away. It takes much less energy to cool a home to these levels than to lower levels. Invest in an inexpensive programmable thermostat to regulate the temperature in your home automatically. It will dramatically increase your chances of succes with this suggestion by making it automatic.

2 - Keep your air conditioner fan in the "automatic" positon at all times. Running the fan all the time consumes a lot of electricity and doesn't actually make the home any cooler.

3 - Install them if you don't already have them and use ceiling fans. Ceiling fans encourage evaporation of moisture from your skin making you feel more confortable. When you leave a room, remember to turn off the fan.

4 - Change your air filter every month. A dirty air filter forces your air conditioner to work harder to get the same amount of cooling. If you have a permanent filter, rinse it thoroughly every month. This is particularly importnt if you have a pet

5 - Keep your blinds and drapes closed when you're not home and, to the extent practical, even when you are home. When you're home at least try to keep the blinds and drapes closed on the sunny side of the home. When extra heat enters the home through windows and sliding doors the air conditioner has to work harder to maintain the same temperature.

6 - Have your air conditioner cleaned and checked every six months by a qualified HVAC contractor. Have them also check for crimps or leaks in the ductwork. This will assure that the unit is running most efficiently and the periodic cleaning and maintenance may add years to the life of the unit as well.

7 - If you have a swimming pool, another large consumer of electricity is your pool filter pump. Many pool filter systems run up to 8 hours a day. Reducing that to 6 hours a day in season, and to 4 hours a day off-season will reduce your monthly electric bill by quite a bit.

8 - In many homes, swimming pool water is heated to extend the swimming season. Think about how you heat that water. Whether it is heated by gas or electricity, a pool heater consumes a lot of energy. Consider converting to a solar system. And, whle you're at it, look into having a solar-assist added to your hot water heater. About the only thing in Florida that is free is our abundant sunshine and yet many still don't take advantage of it. Using the sun as an energy source will not only reduce your carbon footprint, but it has the extra bonus of being "free."

If you have questions about the advantages of living here in Tampa Bay, Florida, please call me at 813-263-6806 or visit my Tampa Bay Florida Real Estate website.

Tampa's Proposed FY 2009 City Budget

2008-08-14T08:59:00.000-07:00

Tampa Florida's mayor, Pam Iorio, it seems to us, has performed a balancing act with her proposed budget for fiscal year 2009 running from October 1, 2008 to September 30, 2009.

The mayor's summary of the budget states that her proposed 2009 budget invests in Tampa's quality of life, including initiatives that affect neighborhood life on a day to day basis by promoting safe, clean and attrative neighborhoods, creating a downtown residential setting, making regional mass transit a reality, and promoting Tampa as a "City of the Arts." Offsetting these investments, the budget holds the line on recurring costs, especially personnel costs, since the city can no longer count on the big annual increases in property tax revenues it enjoyed in past years.

The overheated real estate market which has fallen dramatically, has impaired the flow of increased property tax revenues. In addition, the State of Florida legislature passed mandatory tax cuts and Florida voters approved a constitutional amendment doubling the homestead exemption.

To cover these decreased revenues, the mayor has eliminated more than 380 city positions in the last 2 years and, hopefully, offset those staffing reductions with improved efficiencies in the way the city government operates.

Even with the mayor's proposed cuts, the $836 million budget still represents a 9.8% increase over the FY 2008 budget, due mainly to funds for her proposed infrastructure improvements. Tampa City Council will now have to review, and amend or approve, the mayor's proposed budget.

In the judgment of many, Mayor Pam Iorio has proposed a FY 2009 budget that keeps the city of Tampa moving ahead while adjusting to the new realities of reduced city revenues.

If you would like to know more about Tampa and Tampa Bay, Florida feel free to call me directly at (813) 263-6806, E-Mail Me or visit my Tampa Florida Real Estate website. I'd be delighted to be of service to you.

Should You Buy Now in Tampa Bay or Wait

2008-07-17T11:36:00.000-07:00

5 GOOD REASONS TO BUY NOW

1. Prices in the neighborhoods you prefer are currently relatively stable -- either holding steady or increasing slightly, or, -- the pace of price declines has slowed dramatically meaning the major decline is over. If you are ready to move, the small penalty you might pay by missing the absolute bottom of the market may not mean much.

2. You plan to stay in the home for five years or more. If you plan to stay that long before selling, leading economists say you will probably have gotten beyond this price downturn and you'll come out ahead on price when you sell the home.

3. Your rent is relatively close to what your mortgage payment would be. If you qualify for a mortgage, you will be building equity in your new home and you will be able to deduct the mortgage-interest and property taxes on your federal income taxes.

4. You've found the perfect home in the right area. The schools are great. You know it will be hard to find another home as nice as the one you have your eye on. In a better housing market, you might have much more competition for that home and end up paying more for it if its even available at that point.

5. You've built equity in your current home and are moving to a place where homes prices are lower in a market where your money will go a lot further.

5 REASONS TO WAIT BEFORE BUYING

1. If you have lived in your current home for less than 2 years, there is a good chance that you haven't accumulated any real equity in your home. In fact, you may have negative equity, (you owe more on your mortage than the home is now worth) if you live in certain areas of the country.

2. Your job isn't secure. If you may get laid off or lose your job altogether, it's better to stay where you are until things improve. If you lose your job and have to move some distance, it'll be much harder to come out ahead selling a home you just bought.

3. You don't plan to stay in your next house for at least 5 years. While it's not important to buy at the exact bottom of a home price curve, it is important that you stay long enough to ride out the cycle. Prices will certainly recover but it may take a few years.

4. You don't have good credit or a sufficient down payment. Because of the sub-prime mortgage mess, lenders are more careful today about who they'll give a mortgage to. Speak with a number of lenders about different programs they offer, but don't be surprised if you are turned down completely.

5. You have an existing home to sell in an area where prices are still falling or where many homes are in foreclosure or already bank-owned. In such a "distress sale" neighborhood, your buyer prospects may be just "bottom-feeders" looking to buy a home well below its real market value if the market were in a normal situation.

For more information on Tampa Bay real estate opportunities, I invite you to visit my full Tampa Bay Florida Real Estate website and then call me at (813) 263-6806 or email me at cheryl@cherylstimac.com
.

What Is a Buyer's Agent, Why Would You Want One

2008-07-03T17:08:00.000-07:00

First, let's define the roles a real estate agent can choose to play. Licensed Realtors®, by law, can act in a number of roles. A real estate professional acting in the role of a Listing or Sellers Agent represents the Seller and is obligated by law to help the Seller get the best price and terms.

A Realtor acting in the role of a Buyers Agent works for the Buyer and must
legally and ethically look out for the Buyer's best interest, not the Seller's.

Some Realtors act as either Sellers Agents or Buyers Agents exclusively. Other Realtors have the knowledge and experience to provide service to both Buyers or Sellers, but with few exceptions, on any given transaction, they can act only in one of the roles. Either they represent the Seller or they represent the Buyer, not both
at the same time for that would present a conflict-of-interest.

In some states, including Florida, real estate agents can act in a special role called various things but most commonly, as a "Transaction Broker". When acting in this role, the Realtor must declare to you that he or she is acting in that role and is, in fact, representing neither the Buyer nor the Seller but simply acting as a "facilitator of a transaction."

In general, you, as a buyer, are best served by a Realtor acting specifically as your Buyers Agent.

The details of buying a home can be overwhelming. A professional Tampa Bay real estate Buyers Agent can guide you through the entire process and make the experience much easier, less frustratiing and more enjoyable. And buying a home should be just that -- an enjoyable experience.

- A Buyer's Agent can advise you on many important considerations about a neighborhood you may be considering...the schools, children in the area, traffic volumes, etc.

- He will help you determine the price home you can afford and search the Tampa Florida Multiple Listing Service for homes that fit your needs and affordability. Ther are few things more frustrating than viewing homes you cannot afford.

- With access to homes as soon as they’re on the market, your Buyers Agent schedule a tour of every home that comes on the market tha fits your situation saving you time wasted driving around looking at homes from the outside that don't fit your situation anyway.

- He or she can screen homes on the market to assure they're reasonably priced and in good condition before taking you to see only those in your price range with the amenities you want.

- Your Tampa Florida realtor will point out ways to structure the deal to save you money, explain the advantages of different types of mortgages, guide you through the paperwork, protect your interests during inspections, and answer any questions as you make an offer, negotiate the final price and sign the closing papers.

In most instances, you don’t pay your Buyer's Agent anything at all for all these services. Payment for all the work a Tampa buyers agent does for you comes from the home seller under the terms of the listing contract.

Remember, if you see a home in a Tampa newspaper, real estate book or on the Internet, and you contact the Realtor in that ad, you're calling the Listing Agent,
who is looking out for the Seller, not you. If you want someone looking out for your interests, not the Seller's, you want the services of a Tampa Florida Realtor acting as your Buyers Agent.

So, how do you find a Buyers Agent in the Tampa real estate market? It's easy! Just ask a licensed Tampa area Realtor if he or she is willing to act as your "Buyer's Agent. He or she will most likely be happy to provde that service.

And why use a Buyers Agent A Buyers Agent Realtor looks out for your interests and desires, in most cases, at no cost to you. A better question might be, "Why not use a Buyers Agent since it generally costs you nothing.".

Florida Set to Restore Everglades with Massive Project

2008-06-25T09:27:00.000-07:00

An area of Florida with 300 square miles land may be returned to its natural state over the next decade.

U.S. Sugar, currently the largest producer of cane sugar in the U.S. is negotiating with the State of Florida to go out of business and for $1.7 billion, sell its 187,000 acres of land plus its refinery and other assets to the State of Florida as part of the state's plan to restore the Everglades. This plan was announced jointly by Florida Gov. Charles Crist and U.S. Sugar CEO, Robert Buker.

While negotiations are on-going and subject to approval by both the State government and the board of privately-held U.S. Sugar, officials hope to have a final agreement in place by September, 2008. Under that agreement, U.S. Sugar would be allowed to farm the land for 6 more years and then shut down operations. At that point, a very important 187,000 acres of land south of Lake Okeechobee, currently in use by U.S. Sugar, will be used to help restore the wetlands that support the Everglades.

That land is the virtual heart of the ecosystem which supports the Everglades and can be used to restore a more natural flow to the wetlands that has been restricted and diverted for years by agricultural and other development.

Jeff Danter, The Nature Conservancy’s state director, called the potential deal “an unprecedented opportunity to completely rewrite the course of Everglades restoration.” Frank Jackalone, of the Sierra Club, applauded the move saying, "If they can restore the flows, it can correct what's happened over the past 60 years."

The restoration effort will be the largest of its kind in the world. Returning the land to its natural state, including rerouting water from flood control projects, will help cleanse water flowing south from Lake Okeechobee into the Everglades filtering out fertilizers plus other industrial and automotive pollutants.

The plan calls for the state of Florida and the U.S. Government to be equal 50-50 partners. Florida so far has committed over $2 billion, while the Federal government has spent only several hundred million dollars. Congress authorized $1.8 billion for Everglades projects in 2007, but the money has yet to be allocated.

U.S. Sugar employs 1,700 people all of whom who will lose their jobs. But, U.S. Sugar has been under financial pressure for some time from lower-cost sugar imports. The State of Florida plans to offer job-retraining to the displaced employees. Closing down U.S. Sugar will not, however, completely end sugar production in the Everglades ecosysem. About 300,000 acres used by other sugar growers will remain in production.

Are You Ready For Hurricane Season ?

2008-06-01T12:42:00.000-07:00

Well, It's June 1st and the start of hurricane season not only in Florida but all over the Southeastern coast of the United States.

Are you prepared to protect yourself and your family in case of any serious incident ? It's always better to be safe than sorry. You may want to take a few minutes now and read this Hurricane Readiness Article.

If you are interested in moving your family to the Tampa Florida or Tampa Bay area, or if you need to sell a property anywhere in Hillsborough or Pasco County, Florida, I invite you to visit my Tampa Florida real estate website.

Before you Buy That Florida Condo

2008-05-20T11:01:00.000-07:00

Before you make a firm offer to buy a condominium in Tampa Bay, Florida, regardless of whether its a normal transaction or a foreclosure-related short sale, you need to know what else is involved other than its availability, condition, and price.

You need to gather and understand a fair amount of information other than just its availability and price. Read this article about Questions to Ask Before Buying a Condo and then call me at (813) 263-6806 or email me at cheryl@cherylstimac.com

For more general information on Tampa Bay real estate opportunities, I invite you to visit my full Tampa Bay Florida Real Estate website.

Welcme to Tampa Bay Florida

2008-05-19T11:02:00.000-07:00

Tampa Florida is the "heart" of Tampa Bay, an ideal hometown for young families and retirees alike. Tampa Bay's weather is delightful. The average year-round temperature is 72°, a refreshing 60° in January and an average of 82° in August.

Our phenomenal weather fosters an abundance of outdoor recreation. The Hillsborough River, stretching 56 miles, offers fishing, canoeing, and boating. There are numrous camping areas and hiking trails as well as nearly 200 parks, 136 picnic areas and 80 playgrounds. There are swimming pools, tennis and racquet ball courts, and dozens of golf golf courses as well as professional baseball, hockey and football teams including the Super Bowl-winning Tampa Bay Buccaneers.

Lovers of art, music, dance and theater enjoy a wealth of galleries and museums like the Tampa Museum of Art, Museum of Science & Industry and University of South Florida's Contemporary Art Museum. Broadway musicals and operas excite patrons continually at the Tampa Bay Performing Arts Center. Lowry Park Zoo entertains families with frequent events as does the award-winning Florida Aquarium.

The Tampa lifstyle is further enhanced by several annual events including the Gasparilla Pirate Fest, Tampa's own version of Mardi Gras, the annual Strawberry Festival, and the MacDill AFB Air Show. Thanks to wonderful weather there are dozens of arts and crafts shows, parades, street festivals year-round.

The University of South Florida, University of Tampa, and Hillsborough Community College campuses plus other smaller insitutions of learning add an academic flavor to the area.

World-class medical care is available at Tampa General, University Community Hospital, Memorial Hospital of Tampa and at St Joseph's Women's Hospital and Children's Hospital and many other smaller health care providers.

In Tampa and the surrounding Hillsborough and Pasco County communities of Temple Terrace, Brandon, Lutz, Wesley Chapel, Land O'Lakes and Zephyrhills, there are homes and condos from the most luxurious to the very affordable. There is something for everyone on the Tampa Bay Florida real estate market. And with recent home price declines, there are very attractive bargains to be found right now.

For more information on popular Tampa Bay communities, including golf course communities, visit my Tampa Florida website. I'd be delighted to show you all that Tampa Bay Florida has to offer. You may also E-Mail Me or call me on my cellphone at (813) 263-6806 for immediate service.

Selling Your Tampa Bay Home Now Might Be A Smart Move

2008-05-07T09:21:00.000-07:00

At first it might sound odd, but right now might be the best time to sell your Tampa Bay, Florida home.

Every home has things about it that you wish you could change. You may or may not have noticed these issues when you bought the home but you can't fix them now for various reasons. Maybe the cost would drive your investment in the home beyond what the local neighborhood would support. Or, maybe your home cannot be changed to suit your current needs and desires because of its physical structure, the lot size, it's locale, or changes in youe own personal circumstances. Maybe it was near a great school when you bought it, but now the kids are grown and that school nearby is just a source of noise and traffic congestion. Realtors call these home problems, it's "unchangeables."

"But why is right now a good time to sell when prices have dropped as much as 20%," you ask. Here's why. While the price you can get for your current home may be down, so is the price of a home that doesn't have it's drawbacks, or "unchangeables." With recent home price declines and interest rates at historically low levels, NOW may be the right time to step up to the home you originally wanted but just couldn't afford.

Let's take an example. Supposing you bought your home three or four years ago for $300,000, but it has lost 20% of its value and can now be sold for closer to $240.000 -- down $60,000. But, the home you originally wanted that sold then for $425,000 is now down by that same 20% to $340,000, a drop of $85,000, almost one and a half times the reduction your own current home took.

And with so many homes currently on the market, if the seller of that $425,000 home that's now worth only $340,000 needs to sell, it is very possible that, with the help of an aggressive Realtor, you can negotiate that price down even lower. Chances are that if you could afford the home you paid $300,000 for 3 or 4 years ago, you can probably afford the home you always wanted if you buy it now that prices are so depressed.

As a bonus, when home prices start to rebound, you'll not only have the nicer home, but that new home's price will rise even faster than your old one with those troublesome "unchangeables."

For help in finding the right Tampa Bay Florida home for you and your family, visit Cheryl Stimac's Tampa Florida Real Estate website. For more immediate help, call Cheryl at Red Shoe Realty, LLC on her cell phone at 813-263-6806 or E-Mail her today. You'll be glad you did.

April is National Fair Housing Month

2008-04-25T09:54:00.000-07:00

Forty years after passage of the "Fair Housing Act," an alarming number of families are still denied housing and need the protections ofthis landmark law passed and signed into law in 1968. Kim Kendrick, U.S. Department of Housing and Urban Development (HUD) Assistant Secretary for Fair Housing and Equal Opportunity said, “This report underscores the importance of HUD’s continued enforcement, education, and outreach activities to ensure that all Americans have equal access to housing opportunities.”

More than 10,000 people filed housing discrimination complaints in 2007 alone. Most of the complaints were by people with disabilities, but HUD also found racial housing discrimination to be the second most frequent reason individuals filed complaints under this law.

Read the full article on HUD's website.

Persons who believe they have been victims of housing discrimination they should contact HUD at 1 (800) 669-9777 (voice), (800) 927-9275 (TTY). Additional information is available at www.hud.gov/fairhousing.

If you have questions about Tampa Florida or Tampa Bay Florida real estate, visit my Tampa FL real estate website. Thanks for visitng my blog.

Baby Boomer Retirees Will Drive Tampa Bay Real Estate Comeback

2008-03-05T08:24:00.000-08:00

It was the prospect of baby boomers retiring en masse to Florida that fueled the Florida real estate boom, and it now looks as though the actual arrival of thousands of baby boomer retirees over the next few years will be what it takes to help the Tampa Bay real estate market rebound from its current doldrums.

Speaking at a forum sponsored by the University of South Florida's Institute for Public Policy and Leadership, Brad Edmondson, the former editor of American Demographics magazine, said there has been some decline in the rate of population growth in Southwest Florida as evidenced by the fact that school enrollment is slightly below forecasted levels.

Edmondson predicted that Southwest Florida and Tampa Bay populations will not decline as some as predicted. Once the current housing correction passes, the region will grow again thanks to an influx of those new baby boomer retirees.

"The supply of retirees for the Tampa Bay, Florida area is about to grow explosively," Edmondson said. Edmonson believes that even though only 20% of Americans aged 60 and older move across state lines when they retire the Tampa Bay area will get more than its share. "The number of people entering their 60s will grow 5 times as fast as it did during the 1990s," Edmondson said. "This is an age group that thinks Tampa Bay is a very attractive place to live."

While not all forum participants were quite as positive, one area developer and home builder said he was sure that Florida will going to continue to grow.

If you're interested in buying Tampa Bay real estate, you may want to buy now before the big surge of baby boomer retirees starts driving prices back up again. For more information and assistance in achieving your retirement real estate goals in Tampa Bay, Florida, please contact me at (813) 263-6806 or visit my Tampa Bay real estate website today. You may also just E-mail me. I'd be happy to be of assistance to you.

Gov Crist Addresses Florida Realtors on Property Tax Amendment

2008-01-27T10:07:00.000-08:00

With “Vote Yes On 1” signs raised high, Florida Realtors greeted Governor Charlie Crist this morning with a standing ovation, thanking Crist for his efforts to cut property taxes. The governor addressed Realtors attending the Florida Association of Realtors® (FAR) Mid-Winter Business Meetings in Orlando.

“When was the last time you could go to the ballot box and pass yourself a tax cut?," he asked. "Tell everyone you see to vote for Amendment 1. It’s critical to Florida’s economy,” Governor Crist added.

Read the Full Story on the Florida Association of Realtors' website. Then please call upon me for assistance in buying or selling Tampa Bay real estate . You may also call me directly at (813) 263-6806 or email me at cheryl@cherylstimac.com

This story, copyrighted by the Florida Association of Realtors, is presented here for your information only

Why Move to Tampa Florida

2008-01-11T11:15:00.001-08:00

Tampa Florida offers many advantages to those considering moving to a warmer climate.

Tampa has beautiful weather year-round. The average high temperature is 82 degrees. The average low temperature is 63 degrees.

The Tampa Bay area includes St. Petersburg and Clearwater and their beautiful beaches and is centrally located on Florida’s west coast on the Gulf of Mexico.

Many public companies have headquarters or major operations in Tampa Bay, creating a healthy business and jobs climate. And, the State of Florida has no state income tax and a sizeable property tax exemption for homeowners.

Tampa is rated # 8th in the nation for recreation. Tampa Bay offers many recreational activities including dining out, shopping, golfing, cruises, water sports, fishing and attractions like Busch Gardens, The Florida Aquarium and Lowry Park Zoo. Tampa Bay is less than 2 hours drive from Orlando with all its attractions.

Tampa Bay is home to many of Florida’s finest golf courses and country clubs.

Tampa was rated one of the Top 10 cities in the United States for the healthiest lifestyle. And it's cost of living is lower than the average of United States cities.

Tampa Bay is home to 25 colleges and universities including medical schools assuring a lively nightlife for singles and young marrieds as well as great health-care, academics and performing arts for residents of all ages.

If you'd like more information on Tampa Bay and its attractive lifestyle, visit my website at http://www.redshoerealty.com/

How to get a good deal on a house! (but remember, good deals do not come perfect.)

2007-11-12T11:23:00.000-08:00

If you want to get a great deal on a home, you must buy from a motivated seller. How do you find a motivated seller? Often, sellers that are going through a job relocation, a divorce, or some other life change are motivated. These sellers are likely to give away equity. And unlike a foreclosure, you get a property disclosure which will give you a history of any home repairs. Also, the seller warrants their statements about the condition of the property. These properties are often in better condition than a foreclosure because the sellers are keeping the properties in “marketing” condition. Your Realtor can help you locate motivated sellers and distressed properties.
Homes that are in the process of selling before foreclosure are often sold as “short sales”. A “Short sale” means that the bank or lender accepts less than the current mortgage balance for the property. Usually, before a lender will agree to a short sale, the seller must be in default (that is they must be behind in their payments, or have stopped making payments altogether.) In these situations, the seller is said to be “over-encumbered” and owing more than the home is worth. A short sale might bring the price in line with market value, but not below market value.
Speed is not a virtue of a mortgage company when they are dealing with short sales. These days, the bank mortgage representative has a stack of files with home sellers that are in the same situation. They are in no hurry to give you an answer as your contract is not on top of the pile. If you are patient, a purchase of a short sale can put you in a positive equity position but don’t make an offer on a short sale property if you need to move into a home quickly.
I have bought and sold many investment properties. My motto is “good deals do not come perfect”. You may not get the perfect floor plan. You may have to paint the interior. You will have to fix things and you will need to clean the carpet and chemically treat the “green” swimming pool. In the end, you will come out with a beautiful home and a strong equity position. This is the typical condition of a pre-foreclosure or newly foreclosured home. Neither the owner nor the bank wants to put money into a property that they are taking a loss on. It is on this type of home where you can get the strongest equity position.
When you buy the reduced price home for your primary residence, you will be able to make improvements and get a return on your hard work. Remember, the tax rules are now written that if a home is your primary home, in most cases, profit when you sell is not taxable. To maximize your profit, buy with the intent to stay in the home for a minimum of 3 to 5 years. This will allow time for the market to improve and for your investment to increase in value.
If buying homes that need work does not appeal to you, in our current market new home builders and sellers of existing homes are giving some wonderful deals. Many are paying all closing costs, and making changes to the home as requested by the buyers. To get a good deal, it is wise to buy when others do not want to. This is the kind of market where you will have them greatest power.

What happened to expected property insurance reductions

2007-10-05T11:58:00.000-07:00

According to an article in the WCTV Tallahassee Headlines, only about half of the insurance companies doing business in Florida have complied with a new rate filing law to date. Insurers are supposed to pass property insurance savings on to consumers from the state's assumption of $15 billion in risk. So far, the results are mixed at best.

“We’ve seen some increases and we’ve seen some decreases ... on their original filings from March,” said an Office of Insurance Regulation spokesman.

The most upsetting has been the request by Allstate Insurance for an average 42% hike with another 28% hike for a subsidiary. These filings come at the same time the state has issued subpoenas to insurance companies to find out why rates have not decreased as expected.

When asked about the insurance company filings to date, Gov. Crist said it looks like a violation of law when they ask for increases and don’t pass on the saving they’re supposed to under the reforms the legislature put through in the special session.

The good news for policy holders is that any property insurance rate increases won't take effect until they are approved and the governor says that it is doubtful.

Some of these rate increase requests are being driven by insurance ratings services who are also under investigation for possible collusion in insurance rate setting.

Need information about Tampa Bay real estate, call upon Cheryl Stimac of Red Shoe Realty.

Florida foreclosures will impact home sales for a long time

2007-09-30T07:58:00.000-07:00

September is the month when we usually enter a seasonally slow real estate market and it normally continues until about January of next year., August numbers show that foreclosure activity rose by 77% over the month of July. We expect continued record increases in the foreclosure rate in October. In total almost 34,000 foreclosures were filed in Florida, or one in every 243 households filed for foreclosure. While some so-called experts predict that the Florida real estate market will recover by the end of 2008, each new monthly report shows we are not on the path to recovery.. certainly at least not yet.

Reports also show that, based upon the number of home buyers that took out adjustable interest rate loans back in 2004 to 2006, many of whom are bow nowing into foreclosure, more and more home buyers will face financial difficulty and be forced into foreclosure. I believe this adjustable rate mortgage crisis will keeping forcing homes into foreclosure for many many months to come, maybe even for a few years. We could be looking at as much as four more years of declining Sarasota home prices, not just one year.

Buyers can get it great deal on a house right now but one ought to understand what is involved. Foreclosure real estate isn't usually that cozy little home in perfect shape you may envision. Read my article on buying foreclosure real estate to get an appreciation of what is involved..

If you find yourself needing to buy or sell real estate anywhere in Tampa Bay or Hillsbough County, Florida, call upon me. I'd be happy to help.

New Hillsborough County Tax Exemption Calculator

2007-09-18T09:53:00.000-07:00

The Hillsborough County Property Appraiser’s website has a great tool that homeowner’s can use to gauge the benefits (or lack thereof) of the so-called Super Exemption that will be on the ballot come next January.

Should the Super Exemption get the required 60% of the voter’s approval, which is iffy at best at this point, homeowners will have the option to stick with their current "Save Our Homes" exemption, or accept the new "Super Exemption" instead.

The current Save Our Homes program reduces the taxable assessment of your residence by $25,000 and adds a 3% cap on annual assessment increases. The Super Exemption has a much larger exemption off of the assessed value, (75% on the first $200k of assessed value plus 15% on the remaining assessed value.) But it's annual cap will be tied tied to personal income growth which averages about 4% per year in Florida.

So, assuming the "Super Exemption" gets the required 60% or more approval in the January, 2008 voting, which option should you choose ? Confusing isn't it.

The Hillsborough County Appraiser's Office has developed a tool to help Florida residents make the decision. To use that calculator, go to http://www.hcpafl.org/www/search/index.shtml . Input your last name to access your property record, then click on "Super Exemption Calculator".

These exemptions apply only to a Florida resident's primary residence, not to a second home, or investment or commercial property. Remember, also, that if you give up your "Save Our Homes" tax benefit for the "Super Exemption" when the time comes, you will not be allowed to change your mind later on.

For more information on this or any Tampa Bay real estate topic, feel free to call me at 813-263-6806 or visit my website at http://www.tampafloridahomes.net/

Tampa Bay A Real Estate "Bounce-Back" Locale

2007-09-07T10:20:00.000-07:00

Forbes magazine recently declared Tampa Bay is the #1 place in the country to buy a home right now. Because of Tampa Bay's strong and growing economy and modest housing prices, Forbes calls Tampa-St. Petersburg-Clearwater a prime bounce-back real estate market.

There is currently 20 months worth of homes and condos inventory on the market. Some of those sellers need to sell, and sell now. So, since the Forbes article, the Tampa Bay real estate market has begun to pick up as buyers grab "bottom of the barrel" home prices available right now.

This opportunity will not last for long. It is my belief that we've got a few more months at these bottom level real estate prices before the market starts recovering early in 2008.

If you're interested in Tampa Bay real estate, please contact me at (813) 263-6806 or visit my website today.

Tampa Bay Luxury Homes May Soon Be Bargains for Those with Cash

2007-08-30T11:14:00.000-07:00

The subprime mortgage crisis is having an effect on an unexpected sector of the Tampa real estate market - luxury homes and condos.

The drop in high-priced Tampa Bay home sales may be traced, slightly to troublse in the sub-prime mortgage sector, but it's also because fewer investors are willing to buy packaged jumbo mortgage portfolios. In the past, banks catering to the high-end real estate market were able to limit their exposure by packaging up "jumbo" loans (those above Fannie Mae, Freddie Mac and Ginnie Mae limits) and selling them to investors. Such investors are now hard to find.

Banks and mortgage companies that write jumbo loans are having to keep those loans on their own books and they're not happy about it. To compensate for this extra risk, they are charging much higher interest rates on "jumbo" loans. Some jumbo mortgages are now incurring interest rates 3% or more higher than what was charged a few months ago and that is depressing luxury homes and condo sales.

The problem is troublesome in the Tampa Bay Florida real estate market with its large inventory of homes and condos in the $500,000 and up price range for sale.

Soon, luxury home and condos owners who need to sell will start reducing their asking prices substantially if they want to see a "SOLD" sign in their future. As a result, those with cash on hand will be able to purchase a Tampa Bay luxury property at an attractive price.

When you're ready to start looking, contact Cheryl Stimac, Tampa Bay Florida real estate expert.

Great Time to Buy Tampa real estate.

2007-08-25T13:21:00.000-07:00

Sales of residential properties in Tampa Bay are down more than 30% over this same time last year.

That makes this an outstanding Buyer's Market. There's never been a better time to be buying a home or condo in the Tampa Florida real estate market for buyers who are ready to buy now and willing to use an experienced Realtor as their price negotiator.

Sellers who price realtisically are selling their homes even in this slow market. So, Search the Tampa MLS today for the home or condo of your dreams. You may be able to get it at the lowest price you're going to see in a long time. It may take some serious negotiating because many sellers are clinging to the vain hope that they can still get the high prices of a year or two ago. They won't get those prices and eventually they'll recognize that.

If you keep in touch with that seller with a reasonable offer, given today's market conditions, they may eventually accept your offer. Cheryl Stimac would be happy to act as your Buyer's Agent and help you get that home of your dreams.

Selling Tampa Real Estate More Quickly

2007-08-21T11:11:00.000-07:00

There are really 3 main factors that affect Tampa Bay real estate selling time:
- price
- condition
- terms

Price is the single biggest factor. If the condition of your property is equal to others for sale in your neighborhood, and you're offering comparable terms, it will sell in about the average amount of time your Realtor can suggest. If you want or need it sell it more quickly, you may want to adjust your price down slightly to present "a better value" to prospective buyers.

Terms offered are another factor which can be used to attract buyers. You may offer to pay a portion of the buyer's closing costs, therby reducing the amount of cash a buyer needs and that will attract more first-time buyers. Consider including some major appliances if they are in excellent condition. Again, you'll be assisting first-time buyers. As your Realtor, I can also suggest other "terms" which will attract buyers in your locale or even a whole new group of potential buyers.

Condition of your home alone can prompt a faster buying decision by an anxious buyer, fearing that your home will be "snapped up" because it is so desirable. Consider investing in attractive, popular upgrades and cosmetic improvements. Start with your home's "curb appeal" - fresh paint, a flawless roof and landscaping. Inside, the biggest payoffs are in the kitchen and baths. Think about replacing "tired looking" appliances, faucets, countertops and flooring. Make your tubs and showers sparkle. Here again, I can tell you which improvements offer the best payback.

While Price, Condition and Terms aren't the only factors, they are surely among the most important. Vist my website or call me for advice if a quicker than average sale is your goal

Welcome to Our Tampa Real Estate Blog

2007-08-20T17:09:00.000-07:00

Welcome to my blog. I encourage your participation so that this may become a useful communications tool. If you are interested in buying or selling residential or investment real estate property in Hillsborough or Pasco County Florida, I invite you to join in the conversation and to visit our website at tampafloridahomes.net or redshoerealty.com where you'll find lots of useful information about the Tampa Bay locale, its amenities, its communities and its real estate market.