Hiring a Residential Listing Agent?

pen.jpgSo you are thinking about hiring a residential listing agent?  Here are some things that you should think about.  The National Association of REALTORS has recently published 2017 Profile of Home Buyers and Sellers and these statistics tell a good story about current trends in today’s market.  Some of these findings can help you find a listing agent or determine if you want to sell it as a FSBO (For Sell by Owner).  The following information is from the 2017 Profile of Home Buyers and Sellers, which is divided by types of homes purchased, home search process, home selling and real estate professionals, and FSBO Sellers:

Characteristics of Homes Purchased

  • Buyers of new homes made up 15 percent and buyers of
    previously owned homes made up 85 percent.
  • Most recent buyers who purchased new homes were
    looking to avoid renovations and problems with plumbing
    or electricity at 36 percent. Buyers who purchased
    previously-owned homes were most often considering a
    better price at 32 percent.
  • Detached single-family homes continue to be the most
    common home type for recent buyers at 83 percent,
    followed by seven percent of buyers choosing townhomes
    or row houses.
  • Senior-related housing stayed the same this year at 13
    percent, with 16 percent of buyers typically purchasing
    condos and six percent purchasing a townhouse or row
    house.
  • There was a median of only 15 miles between the homes
    that recent buyers purchased and the homes that they
    moved from.
  • Home prices increased slightly this year to a median of
    $235,000 among all buyers. Buyers typically purchased
    their homes for 98 percent of the asking price.

The Home Search Process

  • For 42 percent of recent buyers, the first step that they
    took in the home buying process was to look online
    at properties for sale, while 17 percent of buyers first
    contacted a real estate agent.
  • Seventy-nine percent of recent buyers found their real
    estate agent to be a very useful information source. Online
    websites were seen as the most useful information source
    at 88 percent.
  • Buyers typically searched for 10 weeks and looked at a
    median of 10 homes.
  • The typical buyer who did not use the internet during their
    home search spent only four weeks searching and visited
    four homes, compared to those who did use the internet
    and searched for 10 weeks and visited 10 homes.
  • Among buyers who used the internet during their home
    search, 89 percent of buyers found photos and 84 percent
    found detailed information about properties for sale very
    useful.
  • Sixty-one percent of recent buyers were very satisfied with
    their recent home buying process.

Home Selling and Real Estate Professionals

  • Sixty-four percent of sellers found their agent through
    a referral from a friend, neighbor, or relative or used an
    agent they had worked with before to buy or sell a home.
    n Seventy-four percent of recent sellers contacted only one
    agent before finding the right agent they worked with to
    sell their home.
  • Ninety percent of sellers listed their homes on the
    Multiple Listing Service (MLS), which is the number one
    source for sellers to list their home.
  • Seventy-six percent of sellers reported that they provided
    the agent’s compensation.
  • The typical seller has recommended their agent twice
    since selling their home. Thirty-three percent of sellers
    recommended their agent three or more times since
    selling their home.
  • Eighty-five percent said that they would definitely (67
    percent) or probably (18 percent) recommend their agent
    for future services.

For-Sale-by-Owner (FSBO) Sellers

  • Only eight percent of recent home sales were FSBO sales
    again this year. For the third year, this is the lowest share
    recorded since this report started in 1981.
  • The median age for FSBO sellers is 55 years. Seventy-four
    percent of FSBO sales were by married couples that have a
    median household income of $103,100.
  • FSBOs typically sell for less than the selling price of other
    homes; FSBO homes sold at a median of $190,000 last
    year (up from $185,000 the year prior), and significantly
    lower than the median of agent-assisted homes at
    $250,000.
  • FSBO homes sold more quickly on the market than agentassisted
    homes. Fifty-eight percent of FSBO homes sold
    in less than two weeks—often because homes are sold to
    someone the seller knows.
  • Sixty-eight percent of successful FSBO sellers who knew
    the buyer were very satisfied with the process of selling
    their home.

Conclusion

Unless you know someone that wants to buy your home, you should use a real estate professional to sell your home.  As stated previously, marketing real estate is improant to get the highest price for your home.

In the Real Estate Market?

KW1784102f20KW.jpgYou should consider using a realtor.  I could save you money especially with new home builders and it does not cost you anything.  So why not? If you are interested in buying real estate (new home, existing home, or commercial property), please contact me (Alan Lane with Keller Williams Realty a.t 2119 W Brandon Blvd, Brandon, Florida 33511).  As a life long resident of Central Florida, I can help you find the right property for you whether it is in Lakeland or as far south as Sarasota.  The Keller Williams offices of  ”Suburban Tampa” include the offices in Brandon, Plant City, Fishhawk Ranch, and our newest office in Valrico.  My email address is alanlane66@gmail.com, or call me at 813.205.9280.  If you are just starting your search, you can search the MLS for real estate opportunities on my website at this link

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Helping sellers and their credit ratings.

IMG_7017

I’m in the real estate sales business to help people and not necessarily to make alot of money.  A home purchase is most likely one of the biggest investment that a typical person will make in their life.  I just closed a short sale yesterday for a client and he is on his way to reestablishing his credit (Rating).  According to Wikipedia “A short sale is a sale of real estate in which the net proceeds from selling the property will fall short of the debts secured by liens against the property. In this case, if all lien holders agree to accept less than the amount owed on the debt, a sale of the property can be accomplished.”  According to http://www.thebalance.com, their are both benefits for a short sale versus a foreclosure, which are as follows:

Short Sale Benefits

Here are a few benefits for doing a short sale:

  • You are in control of the sale, not the bank.
  • You may sleep better knowing who is buying your home.
  • You will spare yourself the social stigma of the “F” word, foreclosure.
  • Contrary to popular belief, you can often stay current on your payments and still apply for a short sale.
  • Your home sale will be handled like any other home sale, with respect and dignity.
  • Once the property is sold…Most banks report to the major consumer agencies as “account paid in full for less than the full balance”

Foreclosure Benefits

Here are a few benefits for choosing to do a foreclosure:

  • It’s an immediate solution.
  • You can stop making payments and live in the home until you get kicked out.
  • For some, it’s revenge; you might feel better initially telling the bank where to go when it refused your loan modification.
  • If something breaks or malfunctions, you don’t have to fix it.
  • You can leave the home behind and simply walk away.

In this case, the owner opted for the short sale and the bank will  report to the major consumer agencies as “account paid in full for less than the full balance”  Now he is on his way to reestablishing his credit.  More importantly, he does not have to worry about what is going to happen in the near future with court hearings, letters from the bank, phone calls, etc.

In the Real Estate Market?

KW1784102f20KW.jpgYou should consider using a realtor.  I could save you money especially with new home builders and it does not cost you anything.  So why not? If you are interested in buying real estate (new home, existing home, or commercial property), please contact me (Alan Lane with Keller Williams Realty a.t 2119 W Brandon Blvd, Brandon, Florida 33511).  As a life long resident of Central Florida, I can help you find the right property for you whether it is in Lakeland or as far south as Sarasota.  The Keller Williams offices of  ”Suburban Tampa” include the offices in Brandon, Plant City, Fishhawk Ranch, and our newest office in Valrico.  My email address is alanlane66@gmail.com, or call me at 813.205.9280.  If you are just starting your search, you can search the MLS for real estate opportunities on my website at this link

Just Sold in South Tampa for $255,000 as a tear down!!!

FrontI just sold this charming 2BR/1BA South Tampa home, including GUEST HOUSE has it all! (Note: Main House Approx. 999 Sq. Ft) Features gorgeous hardwood & ceramic tile floors, granite counter tops,remodeled kitchen & bath, built-in cherry wood armoire, and much, much more. Nestled in beautiful lush gardens and brick pathways is the private, remodeled, 1BR/1BA Guest House, which is leased on a month-to-month basis. This property is located in an area that has seen alot of redevelopment.  Primarily due to its school district.

Below is a map of Plant High School Boundaries.  For the 2016-2017 school year, the property was located just north of the southern boundary within Plant High School:

Plant High School Map

Although the above schools are the currently assigned to the Plant High School (one of the best high schools in Tampa), I would suggest that any potential buyer check the Hillsborough County website to verify the schools and more information (school grades, school calendar, etc.). If you are relocating to Hillsborough County, you can find your school at click here as well as the school calendar at click here.

IMG_0200

It was purchased for $255,000 as an immediate tear down.  Even though this home was in average to good condition, a developer was willing to provide the best offer that later closed.  He is intending to build a home just sligh of $1,000,000 on the lot.IMG_0177

KW1784102f20KW_thumb.jpgIn the Real Estate Market?

You should consider using a realtor.  I could save you money especially with new home builders and it does not cost you anything.  So why not?  If you are interested in buying real estate (new home, existing home, or commercial property), please contact me (Alan Lane with Keller Williams Realty a.t 2119 W Brandon Blvd, Brandon, Florida  33511).  As a life long resident of Central Florida, I can help you find the right property for you whether it is in Lakeland or as far south as Sarasota.  The Keller Williams offices of  ”Suburban Tampa” include the offices in Brandon, Plant City, Fishhawk Ranch, and our newest office in Valrico.  My email address is alanlane66@gmail.com, or call me at 813.205.9280.  If you are just starting your search, you can search the MLS for real estate opportunities on my website at this link

No money, No problem

I got no money too

CocoForCoconuts

Don’t have enough money to do the things you’ve always dreamed of? WHO told you that, and WHY did you belive it. You my friend have all the power in the world with or without money. Money is just an object. They print it everyday. Sure money can buy lots of things (don’t get me wrong) but you don’t need it do what you love. For instance if your passion is traveling do it the SMART way. Stop saving all year round to take a week vacation. That isn’t enough if you have a strong passion for traveling and living the wanderlust life. (well for me it isn’t at least lol) So instead of saving a few thousand for a nice vacation I like to take small vacations all year round. For instant I have probably spend 2,000 on traveling this year and I have been to Wisconsin 3 time…

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Valrico Florida Residental Sales By the Numbers

I get alot of questions about when to buy or is the market too high?  Well I wanted to show you some of the numbers in one of my favorite bedroom communities in eastern Hillsborough County (Florida), which is Valrico (zip codes 33594, 33595, and 33596). Valrico is just east of the better known Brandon community and features some of the best schools in area.

Valrico

Income Statistics

We have reviewed income statistics from the U.S. Census Bureau, Census 2010 Summary File 1 and Esri forecasts for 2017.  Based on these figures in the exhibit below, the Valrico market is very affluent market compared to both Hillsborough County as well as the state of Florida.

2017 Income Comparison

Home Price Trends

Did you know that historically in most communities in Hillsborough County that the price range under $100,000 is the most popular according to MLS Statistics?  The second price range is between $150,000 and $300,000.  As the sales price increases, the number of sales decrease.

Valrico Sales by Number of Sales

As you can see by the below exhibit, Valrico’s historical price trend has remain steady over the past several years.  As of July 2017, the median sales price in Valrico was $232,500.  Based on this MLS Data, there is no reason to suggest a housing bubble or market peak in the near future.

Valrico Historical Sales Price Trend

Rental Rate Comparison

The Valrico residential rental market is also as strong as the residential sales market. According to the U.S. Census Bureau and 2010-2014 American Community Survey, Valrico’s median contract rent is above both Hillsborough County asa well as the state of Florida.

Median Rent

How Much House Can You Afford Instead of Renting?

There are several financing options for home buyers (i.e. conventional, FHA, VA, etc.) and there is a difference changing the term (length of the loan).  Accoding to Rateplug, here is a rough estimate of what a $200,000 house payment would be:

Sample Lender

*FHA loans allow for a 3.5% Down Payment. ARM (Adjustable Rate Mortgages) loan payment & interest rates will change during term.

Real estate taxes assume the property has a homestead.

Ins./HOA Dues = Home Owners Insurance/Dues (can vary)

APR = Annual Percentage Rate. ARM Rates may increase after consummation.

PMI = Private Mortgage Insurance

Conclusion

There is no evidence of a market bubble in the near term as we are growing at a sustainable rate.  So the time to buy is now.  Especially considering the cost of renting versus buying.  We did not even address the benefits of writing off interest and real estate taxes on your income taxes!!!  Stop throwing money out the window and let me sell you a home today.

KW1784102f20KW_thumb.jpgYou should consider using a realtor.  I could save you money especially with new home builders and it does not cost you anything.  So why not?  If you are interested in buying real estate (new home, existing home, or commercial property), please contact me (Alan Lane with Keller Williams Realty a.t 2119 W Brandon Blvd, Brandon, Florida  33511).  As a life long resident of Central Florida, I can help you find the right property for you whether it is in Lakeland or as far south as Sarasota.  The Keller Williams offices of  ”Suburban Tampa” include the offices in Brandon, Plant City, Fishhawk Ranch, and our newest office in Valrico.  My email address is alanlane66@gmail.com, or call me at 813.205.9280.  If you are just starting your search, you can search the MLS for real estate opportunities on my website at this link

Great Deals on Lennar Spec Homes in South Hillsborough County, Florida

Stonegate at Ayersworth offers a variety of single family homes located in the Wimauma area just south of Tampa. The community offers numerous amenities including a basketball court, a playground, a swimming pool, picnic pavilion, and a community center. Future residents can choose from a variety of floor plan options with prices starting from the $200s with 3 to 6 bedrooms.   There are currently two spec homes (Providence Model) reduce by $6,200 and $8,200 from the base price of $227,490.  A “spec” home is a home that is not built with a specific home buyer in mind.  Most builders do not build a home until they have a home owner’s deposit.  But Lennar is not one of these builders.  Since Lennar is one of the largest home builders in Tampa Bay, they need to keep their contractors busy.  This could mean some real savings to home purchasers of spec homes.  The following is the front elevation of the Providence Model (a two story, 2,584 square foot, Four-Bedroom/Flex/Loft/Two-Bath home):

Providence Front Elevation

Providence Model

Little Harbor are two-story homes with a Cape Cod atmosphere in Tampa Bay and one of Lennar’s newest waterfront communities.  These homes will have direct access to Tampa Bay with the convenience of being able to accommodate own docks and boat lifts. Pricing from $514,990s – $669,990s.  There are currently several spec homes with steep discounts between $5,000 and $37,000 off base prices, including Amelia, Jupiter, and Sanibel Models.

Jupiter

Jupiter Model

Sanibel

Sanibel Model

This is just a sample of the spec homes available.  For information on more new homes in the Tampa Bay market, please contact me and let’s go shopping.

Front Elevations provided by Lennar Homes

KW1784102f20KW_thumb.jpgYou should consider using a realtor.  I could save you money especially with new home builders and it does not cost you anything.  So why not?  If you are interested in buying real estate (new home, existing home, or commercial property), please contact me (Alan Lane with Keller Williams Realty a.t 2119 W Brandon Blvd, Brandon, Florida  33511).  As a life long resident of Central Florida, I can help you find the right property for you whether it is in Lakeland or as far south as Sarasota.  The Keller Williams offices of  ”Suburban Tampa” include the offices in Brandon, Plant City, Fishhawk Ranch, and our newest office in Valrico.  My email address is alanlane66@gmail.com, or call me at 813.205.9280.  If you are just starting your search, you can search the MLS for real estate opportunities on my website at this link

Tampa Bay Residential Real Estate Firms

kwKeller Williams Realty has three of the top 10 residential real estate firms in Tampa Bay Market ranked by Gross Sales Volume Closed in 2016.  The Tampa Bay market comprises Hernando, Hillsborough, Manatee, Pasco, Pinellas, Polk, and Sarasota Counties.   This list was supplied by individual companies through questionnaires.  Two of the Keller Williams’ offices exceeded the average number of listings and closings.  In fact, one office was ranked first in both closings and listings.  However, Keller Williams Realty lagged the average sales price with these firms focusing on selling higher end condominiums and water front properties versus Keller Williams focus on middle class purchasers.  The following exhibit displays the results of this survey:

Tampa Bay Residential

KW1784102f20KW_thumb.jpgYou should consider using a realtor.  I could save you money especially with new home builders and it does not cost you anything.  So why not?  If you are interested in buying real estate (new home, existing home, or commercial property), please contact me (Alan Lane with Keller Williams Realty a.t 2119 W Brandon Blvd, Brandon, Florida  33511).  As a life long resident of Central Florida, I can help you find the right property for you whether it is in Lakeland or as far south as Sarasota.  The Keller Williams offices of  ”Suburban Tampa” include the offices in Brandon, Plant City, Fishhawk Ranch, and our newest office in Valrico.  My email address is alanlane66@gmail.com, or call me at 813.205.9280.  If you are just starting your search, you can search the MLS for real estate opportunities on my website at this link