Steve Eckhardt's Tampa Area Blog

Both the Tampa & Sarasota MSA's reported a 30% increase in sales for July 2009 compared to July 2008 numbers. The median sales price in Tampa was down 19% from a year ago to $143,100 and the median sales price in Sarasota was down 22% from a year ago to $179,500. Full statewide statistics are available from The Florida Association of Realtors.

Sales of existing single-family homes in Florida rose 23 percent in second quarter 2009 compared to the same period a year earlier, according to the latest housing statistics from the Florida Association of Realtors® (FAR).  Sales of existing condominiums statewide in the second quarter rose 29 percent compared to the same time the previous year. This marks the third consecutive quarter for increased statewide sales in both the existing home and condo markets compared to year-ago levels.  http://www.floridarealtors.org/NewsAndEvents/article.cfm?id=221418

Housing prices in the Sarasota-Bradenton market posted a nearly 10 percent increase during the second quarter when compared with the first three months of the year, and sales rose 20 percent.
http://www.heraldtribune.com/article/20090813/ARTICLE/908131058/2107/BUSINESS?Title=Home-prices-and-sales-surge

Florida real estate won't rebound until the job market improves, but investor confidence in the outlook for business and availability of money are reasons for cautious optimism, according to the latest University of Florida (UF) survey. http://ping.fm/NkDTB

Read the article in the Tampa Bay Business Journal - http://ping.fm/5J4w8

Sales of million dollar homes increased significantly for the Greater Tampa Bay area and the Greater Sarasota/Bradenton areas.  In the 5 county area the number of homes over $1 million that sold in July increased to 61 compared to the 42 homes that were sold in June.  While newspapers and the media continue to report luxury homes are "languishing" on the market, demand through 2009 has remained relatively stable (January 33 sold, February 29 sold, March 48 sold, April 59 sold, May 54 sold, June 42 sold, July 61 sold).  That being said, we still have over a 42 month supply of million dollar homes.

The following statistics are taken from the Mid Florida Regional MLS and cover single family homes over $950,000 listed in the Mid Florida MLS.  The Greater Tampa Bay area covers Hillsborough, Pinellas, and Pasco counties.  The Greater Sarasota/Bradenton area covers Sarasota and Manatee counties.

Greater Tampa Bay Area Listings

1256 homes over $950,000 are currently for sale in the Greater Tampa area.  The average list price is $1,845,691, with an average size of 4412 square feet.  The average "million dollar home" in Greater Tampa, St. Petersburg, & Clearwater has been on the market for 332 days.  The most expensive home in Greater Tampa is priced at $25 million and is located in the exclusive community of Avila.

Greater Sarasota Bradenton

1321 homes over $950,000 are currently for sale in the Greater Sarasota area.  The average list price is $2,110,031, with an average size of 3734 square feet.  The average "million dollar home" in Greater Sarasota, Bradenton, Siesta Key, Casey Key & Longboat Key has been on the market for 353 days.  The most expensive home in the Greater Sarasota are is priced at $17 million and is located on Casey Key.

Click Here To View The Most Exclusive Homes In Greater Tampa & Sarasota

Request your personalized listings sent directly to your e-mail at www.SearchForTampaHomes.com or contact Steve Eckhardt at (813) 765-1182.

1655 BAY HARBOR LN, SARASOTA - $3,499,999 - Beauty and craftsmanship go hand in hand in this splendid Mediterranean masterpiece. This is the developer's personal home.  In addition to the incredible full bay views, this exclusive residence features five spacious bedroom suites, study, loft, six and one half bathrooms, library, family room, formal living and dining rooms. The master suite has its own laundry room and wet bar. An oversized four car garage, brick paver motor court, authentic clay tile roof, and decorative hand carved stone fountain are striking enhancements to the exterior. The gourmet kitchen is a chef's delight with granite countertops, custom cabinetry with under cabinet and above cabinet lighting, two dishwashers, sub zero refrigerator, double ovens, six burner gas cooktop, and food drawer warmer. Custom Kohler plumbing fixtures enhance the kitchen and bathrooms. The private boat dock is equipped with a 12,000 pound lift, electric and water, and the outdoor entertaining area is complete with gas heated custom pool and spa, and summer kitchen with refrigerator, grill and sink. Architectural details include the crown molding and custom columns to the marble and wood flooring throughout. This home is superior in its efficiency with a "Gold Certification" rating from FPL including a high efficiency HVAC system complete with whole house air filtration and anti-microbial contaminant systems, and high performance Anderson windows and doors . Custom Estate by Westwater Construction. See more of our luxury listings on our website.  TAKE A TOUR OF THIS HOME. Call Steve Eckhardt at (813) 765-1182 For A Private Showing.

Driving down the streets of Tampa, Sarasota, Clearwater, or St. Petersburg, you'll see a good number of homes for sale. What you'll also see, however, are homes for rent. What's the difference? Why did these people decide to rent their home? Why did that homeowner become a landlord?

There are a lot of good reasons for renting out your home, instead of adding it to the list of homes for sale:

1. The competitive factor - The current housing market is great for homebuyers, but not so great for home sellers. With so many homes to choose from, your property has to stand out from the rest to get sold. Sometimes, it could take months, or even years, to sell your house. During that time, renting can be a good way to make the house profitable.

2. Belief that the area will grow - Many people need to move out of their first house because it doesn't have enough room for their growing family. However, they think the area has a lot of potential and will be growing. It then becomes a real estate investment. They may want to sell later, but not during the real estate slump.

3. Not sure if they want to sell the home - Another set of landlords have moved to a new city and job, but aren't sure whether they'll like it or not. Renting is a way to cover the cost of the house. This is a "just in case" prospect, and works well for many.

4. More money - Especially with the housing slump, some landlords have been able to make more money renting than selling their house. Because housing prices are currently very low, many owners have found renting their home more profitable than selling it for a lower value.

If you're trying to determine if you should sell or rent your home, I can help. Cornerstone Properties has an in-house rental management division and the top listing syndication technology in the Tampa Bay area. Call me today at (813) 765-1182 or email me at steve@thefloridaauthority.com for more information.

www.SearchForTampaHomes.com

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www.TheFloridaAuthority.com

If you're looking to get a good deal by buying a Tampa or Sarasota foreclosure, keep in mind that many of the homeowners not only didn't have money for the mortgage, they probably didn't have money for the upkeep of the house either.  If you've found a home you're interested in, here's a short checklist to follow even before you decide to contact a home inspector.

 Structure

For some Tampa or Sarasota foreclosures, structure is a definite issue.  Pay close attention to the following, as they may indicate more severe problems:

• Are the interior walls in good condition?  Any cracks and stains?
• Are the floors in good condition?  What are they made of?  Some floors are made of substandard materials, unsafe for more than casual use.
• Is the roof in good repair or are there missing/curled up shingles?
• Are the gutters, downspouts and flashing in good condition?
• Do the doors and windows stick or glide freely?  When closed, do they block out weather or is there a draft?

Water

• Is there mold and mildew or a dark, scaly surface on the walls, ceiling, or floors?  This can indicate too much moisture, and can mean a leak in the roof or the structure.
• Is the ceiling bubbling, have brown spots, patches or new paint?  New paint might be a sign of covering up stains from water leaks.
• Are there drainpipes around the foundation?  Do they lead away from the foundation?  Are there cracks or a lot of weeds around the area? 

 Inside Hazards

Many older houses haven't been updated or may not be up to code.  Here are some of the more common issues:

• Is there asbestos around exposed pipes for the furnace, heating system or water heater?
• Can you see any signs of vermin or insects?  Mice, termites, cockroaches and bats all leave signs of habitation behind.

 If everything else is good, have the house tested for radon, carbon monoxide and lead-based paint.

 Although there are many other things to consider when looking to purchase Tampa Bay or Sarasota foreclosure, these three are essential to a healthy living environment.  Most importantly, make sure you're an informed buyer. 

 If you're looking to buy a foreclosed home, I can help.  Call me today at (813) 765-1182 or email me at Steve@TheFloridaAuthority.com for more information.

www.TheFloridaAuthority.com

www.RelocateToTampa.com

www.SearchForTampaHomes.com