Hillsborough County Residential Market May 2017

IMG_4126.jpgThere has been a lot of news about the health of most residential markets throughout the United States.  But in Hillsborough County (Tampa) Florida, the residential market remains strong and should continue to be strong into the immediate future.  So if you are relocating to this area, you should not be worried about buying a new home.  Per MLS statistics, there are some significant market indicators that show that the market continues to be a seller’s market.  The number of active listings have continue to decline.

Active Listings 5 10

We have also seen a steady historical sales price trend from its low in January 2011 with the current trend is not at the 2007 level when the bubble burst (i.e. there were 11,541 sales in April 2012 versus 8,027 sales in April 2017).  It’s this steady trend that should keep the market a seller’s market and healthy into the near future.

Historic sales price trend 5 10

The actual days on the market (ADOM) has been declining despite the increase in price.  As of April 2017, the ADOM is only 23 days with a median list price of $223,000 versus 42 days in February 2015 when the median list price was $185,900.

ADOM 5 10

We are also seeing a decline in the number of sales in most price ranges in the past three years.  This is especially true for homes under $100,000 when there were 6,630 sales in 2015 versus 3,957 sales in 2017.

Historic sales X Price range 5 10

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

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Hawks Landing in Ruskin, FLorida

Lido Beach MorningHawks Landing is a new home community in eastern Hillsborough County, Tampa Bay Florida.  This location is located east of Tampa Bay and the Interstate 75 Corridor.   However, it is still conveniently located to restaurants and shopping as well as Tampa’s business district and Gulf Coast beaches.  With 7 spacious floor plans, you’re sure to find a home that suits you at an affordable price in this new subdivision. These single-family homes come with a wide variety of unique features to fit whatever you want in home.  Some of the property highlights include:

  • Pricing from $175,990s – $249,990s
  • Square footage from 1,555 to 3,326
  • Bedrooms from 3 to 6
  • Bathrooms from 2 to 3
  • CDDs at 167.11 per month with low HOAs ($6.27 per month)

Per Lennar, the Schools for this subdivision include:

  • Cypress Creek Elementary
  • Shields Middle
  • Lennard High

Although the above schools are the currently assigned to the subject development, 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.

Unlike most builders, Lennar offer a home that has everything included.  What does that mean for the buyer?  In the case of upgrades, it is simply a matter of over pricing them above what you could get done from an individual subcontractor.  I’m not saying that Lennar does not offer upgrades, but most of the “typical”upgrades in the modern home as “granite” countertops are included.  Whereas, a lot of builder charge higher prices at their “design centers”.  This is just something to think about when deciding on purchasing a home.

There are several “spec” homes available.  Home builders in the Tampa Bay Residential Market have completed homes available with some real savings like discounts off the original sales price and generous closing costs available to potential home buyers in communities like Riverview and Ruskin, Florida.  Sales prices onSpec” (speculation) are often the best places to get the best deals.  These homes are built by builders without an intended purchaser in mind (Hence the builder is speculating that they will find a builder to buy the home).  There are seven spec homes available (Harrisburg, Hartford, Dover, Providence, and Raleigh models).  The following is the Harrisburg Model:

Harrisburg Front

Harrisburg first flr

The following is the Hartford Model:

Hartford Front

HARTFORD fIREST fLOOR

The following is the Dover Model:

Dover Front

Dover 1st Floor

The following is the Providence Model:

Providence

Providence 1st Floor

Providence 2nd Flr

The following is the Raleigh Model:

Raleigh

Raleigh 1st Flr

Raleigh 2nd Flr

Front Elevations and Floor Plans provided by Lennar Homes

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

Dover Ridge (A New Single Family Home Community)


moneyhands_217w_gifDover Ridge
is a new home community in eastern Hillsborough County, Tampa Bay Florida.  This location is still in a more rural location between Valrico and Plant City.   However, it is still conveniently located to restaurants and shopping as well as Tampa’s business district and Gulf Coast beaches.  Some of the property highlights include:

  • Pricing from $210,990s – $285,990s
  • Square footage from 1,555 to 3,326
  • Bedrooms from 3 to 6
  • Bathrooms from 2 to 3
  • Gated community with no CDDs with low HOAs ($68.04 per month with a one-time $300 Capital Contribution)

Per Lennar, the Schools for this subdivision include:

  • Nelson Elementary School
  • Mulrennen Middle School
  • Durant High School

Although the above schools are the currently assigned to the subject development, 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.

Unlike most builders, Lennar offer a home that has everything included.  What does that mean for the buyer?  In the case of upgrades, it is simply a matter of over pricing them above what you could get done from an individual subcontractor.  I’m not saying that Lennar does not offer upgrades, but most of the “typical”upgrades in the modern home as “granite” countertops are included.  Whereas, a lot of builder charge higher prices at their “design centers”.  This is just something to think about when deciding on purchasing a home.

There are several “spec” homes available.  Home builders in the Tampa Bay Residential Market have completed homes available with some real savings like discounts off the original sales price and generous closing costs available to potential home buyers in communities like Riverview and Dover, Florida.  Sales prices onSpec” (speculation) are often the best places to get the best deals.  These homes are built by builders without an intended purchaser in mind (Hence the builder is speculating that they will find a builder to buy the home).  There are thee spec homes available (Harrisburg and Hartford models).  The following is the Harrisburg Model:

Harrisburg Front

Harrisburg first flr

The following is the Hartford Model:

Hartford Front

HARTFORD fIREST fLOOR

Front Elevations and Floor Plans provided by Lennar Homes

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

 

Enclave at Boyette Creek

The Enclave at Boyette features single-family homes located on the east side of Boyette Road, just north of Rhodine Road in Riverview (located in eastern Hillsborough County).  HOA is $88.27 per month with no CDD Fee.  The entire development is gated and features a park.  Some of the highlights include the following:

  • Pricing from $227,490s – $315,490s
  • Square footage from 1,738 to 3,777
  • Bedrooms from 3 to 5
  • Bathrooms from 2 to 3

According to Lennar, the schools for Enclave at Boyette are as follows:

  • Stowers Elementary School
  • Barrington Middle School
  • Newsome High School

There are four spec homes available (North Carolina, Rhode Island, Vermont and Virginia models).  Spec homes are homes built without a buyer and usually offer better than average deals as the builder/developer does not want to keep them for very long.

The North Carolina in Enclave at Boyette

North Carolina Model – a 2,065SF, 4 BR/3 BA, Home – One available at $250,490

The Rhode Island in Enclave at Boyette

Rhode Island Model – a 2,533SF, 4 BR/2.5 BA, Home – One available at $274,990

The Vermont in Enclave at Boyette

Vermont  Model – a 3,288SF, 5 BR/3 BA, Home – One available at $303,990

The Virginia in Enclave at Boyette

Virginia Model – a 3,777SF, 5 BR/3.5 BA, Home – One available at $324,490

Thinking of buying or selling real estate?

KW1784102f20KW_thumb.jpgYou should consider using a realtor.  If you are interested in buying real estate (new home, existing home, or commercial property), please contact me (Alan Lane with Keller Williams Realty at 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.

Elevations were provided by Lennar Homes.

 

Residential Market Insights: July 2016

cropped-cropped-img_3917_thumb.jpg

HOME PRICES

The median home price was $239,700 in July, which was up 3.8 percent from June and up 4.7 percent from last year. The median home price has increased by approximately $11,000 in the past year alone.

HOME SALES

The National Association of REALTORS® reported home sales at a seasonally adjusted annual rate of 5.5 million homes during the month of May. This was an increase of 1.8 percent from April, and an increase of 4.5 percent from May of last year.

INVENTORY – MONTH’S SUPPLY

There was a 4.7-month supply of housing inventory in May, which remained flat from April. The total number of homes for sale decreased by 7.8 percent compared to May of last year to 2.15 million homes nationwide, which was 130,000 fewer listings than May of last year.

CURRENT MORTGAGE RATES

The following is a summary of the current mortgage rates:

Mortgage Type Rate
30-Year Fixed 3.54%
15-Year Fixed 2.81%
5/1-year ARM 2.74%
Historical average 8.90%

Source: This Month in Real Estate

Thinking of buying or selling real estate?

KW1784102f20KWYou should consider using a realtor.  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

Residential Market Insights: May 2016

cropped-lido-waterfront-home_thumb.jpgHOME SALES

The median home price was $222,700 in March, which was up 5 percent from February and up 5.7 percent from last year. The median home price has increased by approximately $12,000 in the past year alone.

HOME PRICE

The National Association of REALTORS® reported home sales at a seasonally adjusted annual rate of 5.3 million homes during the month of March. This was an increase of 5.1 percent from February, and an increase of 1.5 percent from March of last year. Currently, 2016 is projected to outpace 2015 by approximately 720,000 total home sales.

INVENTORY – MONTH’S SUPPLY

There was a 4.5-month supply of housing inventory in March, up from 4.4 months in February. The total number of homes for sale in March increased by 2.3 percent to 1.98 million homes nationwide, but that was still 30,000 fewer listings than March of last year.

CURRENT MORTGAGE RATES

The following is a summary of the current mortgage rates:

May 2016 Mortgage Rates

Source: This Month in Real Estate

Thinking of buying or selling real estate?

KW1784102f20KWYou should consider using a realtor.  If you are interested in buying real estate (new home, existing home, or commercial property), please contact me (Alan Lane with Keller Williams Realty at 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.

Special Financing Available for New Homes in Hawk’s Landing

Are you relocating to Tampa Bay and looking for a large home for a growing family? Hawk’s Landing could be what you are looking for.  Now, there is special financing available!!!   

Hawk’s Landing is located on the east side of 24th Street NE at its intersection with 11th Avenue Avenue NE in Ruskin, Hillsborough County, Florida.  This location has easy access to Interstate 75 and US Highway 41.  Amenities include a clubhouse and resort-style swimming pool.  There are no CDD Fees.  The community features a variety of single family homes (seven floor plans):

  • Pricing from $174,990s to $246,990s
  • Square footage from 1,556 to 3,327
  • Bedrooms from 3 to 6
  • Bathrooms from 2 to 3

This area is known is for some of the better schools in Hillsborough County.  Currently, the schools include the following:

  • Cypress Creek Elementary School
  • Shields Middle School
  • Lennard High School

Although the above schools are the currently assigned to the subject development, 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.

Unlike most builders, Lennar offer a home that has everything included.  What does that mean for the buyer?  In the case of upgrades, it is simply a matter of over pricing them above what you could get done from an individual subcontractor.  I’m not saying that Lennar does not offer upgrades, but most of the “typical”upgrades in the modern home as “granite” countertops are included.  Whereas, a lot of builder charge higher prices at their “design centers”.  This is just something to think about when deciding on purchasing a home.

There are several “spec” homes available.  Home builders in the Tampa Bay Residential Market have completed homes available with some real savings like discounts off the original sales price and generous closing costs available to potential home buyers in communities like Riverview and Ruskin, Florida.  Sales prices onSpec” (speculation) are often the best places to get the best deals.  These homes are built by builders without an intended purchaser in mind (Hence the builder is speculating that they will find a builder to buy the home).

There are two move-in ready, 2,902 square foot, five-bedroom/flex/two and one half-bath, Raleigh model offered at $231,090 and 232,590. Front elevation and floor plans are as follows:

There is a move-in ready, 3,092 square foot, six-bedroom/flex/three-bath, Richmond model offered at $240,790. Front elevation and floor plans are as follows:

Thinking of buying or selling real estate?

KW1784102f20KWYou should consider using a realtor.  If you are interested inbuying real estate (new home, existing home, or commercial property), please contact me (Alan Lane with Keller Williams Realty at 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 isalanlane66@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.

Front Elevation and Floor Plans were provided by Lennar Homes.