Meadow Pointe Traffic Light

The secondary entrance (north of County Line Road) to Meadow Pointe on Bruce B. Downs will be getting a traffic light along with additional turn lane improvements for those traveling south on BBD. Now, just when are they going to begin the widening of Bruce B. Downs in Pasco Co.? It's supposed to start this spring.

Another National Home Builder Files for Bankruptcy Protection

The Daily Herald reports that national homebuilder Kimball Hill and its 29 affiliates have filed for Chapter 11 bankruptcy protection. Kimball Hill has local presence in Ashton Oaks in Wesley Chapel. Previously Kimball Hill had announced it was withdrawing from the Florida market.

Seven Oaks Home Market Update

There are 88 single family homes listed for sale in our MLS in Seven Oaks in Wesley Chapel. List prices range from $179,900. for a 3 bedroom, 2 bathroom home with almost 1,300 sq. ft. to $775,000 for a home with over 4,000 square feet.

In the past month, seven single family homes in Seven Oaks were reported sold in our MLS, with reported sold prices ranging from $165,000 to $550,000.

This community continues to be popular for its location and amenities.

Green Iguana in Wesley Chapel

Back in January a sign appeared at the Rattle Fish Reef in Wesley Chapel announcing: Coming Soon Green Iguana! I was told in February that the location that they were interested in didn't work out. Since then the sign remains and there are no indications of a conversion to a Green Iguana Bar and Grill. After a quick call to a Green Iguana I was informed that they are NOT going in to the former Rattle Fish Reef.

Shoppes at Meadow Pointe

The Shoppes at Meadow Pointe has a nice parking lot in place. Striping is done and handicapped parking is marked. One thing though....there are no buildings or evidence of construction activity. For now, it would make a great Park N Ride.

Previously it was reported that Carrabbas Italian Grill was going to be one of the restaurants in this planned new Wesley Chapel shopping center of 80,000 square feet. No additional information was provided by the leasing office.

Easton Park

The pool at Easton Park in New Tampa is almost finished and scheduled to open soon!

Update on proposed Wesley Chapel Hospital at Wiregrass

After the CON (Certificate of Need) was approved for the proposed Wesley Chapel hospital by Adventist/University Community Hospital last year, the decision was contested legally by competitors. Today we learn from the Tampa Tribune that while arguments by competitors have been heard recently, it will likely be months before an answer is handed down by a judge and a final order is issued by the Division of Administrative Hearings.

Short Sales in New Tampa

An analysis of single family homes listed for sale in New Tampa, revealed over 70 of the listings as "short sales" (The listing price may not be sufficient to cover all encumbrances, closing costs, or other seller charges due at closing; and sale of the property at the full listing price may be conditioned upon terms negotiated and approved by third parties) or sellers who are "upside down" in their house.

The breakdown by community of those I identified as short sales is:

Arbor Greene 5
Cory Lake Isles 4
Cross Creek 5
Grand Hampton 7

Heritage Isles 14
Live Oak Preserve 22
Pebble Creek 5
Tampa Palms 4
West Meadows 5

The issue of banks taking weeks or months to respond to offers to purchase on short sales continues, and is giving rise to a new trend with listing agents---Inserting wording in the "realtor only remarks" that the listing is not a short sale. "This is NOT a short sale" is showing up more frequently because it is more appealing to buyers and agents who may not want to wait weeks or months to get a response from Sellers' lenders on an offer to purchase.

Meadow Pointe IV Clubhouse

Photo update on clubhouse and pool for Meadow Pointe IV in Wesley Chapel.

Art in the Park in Wesley Chapel

Wesley Chapel will hold its first Art in the Park on Saturday from 11:00 a.m. to 5:00 p.m. at the Wesley Chapel District Park on Boyette Rd. This is the first year for the juried show and bands will be performing while the works of about 35 artists are featured. Additionally, food and beverage will be available for purchase.

Spring!

My Mother My Self !

(Picture taken today. This would get a chuckle from Nancy Friday!)

Arbor Greene Home Market Update

Five Arbor Greene homes were reported sold in March by our local multiple listing service. Sold prices ranged from $277,000. for a 4 bedroom, 3 bathroom, home with two car garage to $355,000. for a 4 bedroom, 3 bathroom, pool home with a three car garage.

Presently there are 67 single family homes listed for sale in Arbor Greene in our MLS, priced from a low of $199,900. for a "maintenance free" villa (short sale) to $599,900 for a 5 bedroom, 4.5 bathroom pool home with a 3 car garage.

Wesley Chapel Area--Future Heaven For Shoppers

Everyone in the Tampa area is familiar with the "Big 3" malls under construction in the Wesley Chapel area; the Grove which has opened Phase I, the Shops at Wiregrass with a planned fall opening, and the Cypress Creek Town Center, which now has a delayed opening date.

Recently work was halted on the Cypress Creek Town Center over permitting issues. We also learned this week that there is a hiccup in plans to serve alcoholic beverages at the Cobb Theatres under construction at the Grove.

More on the mall sprawl in today's paper.

Hiccups and permitting issue delays aside, there is little question that shoppers will be drawn from several counties to this future "shoppers heaven" when the three malls open, located only several miles from University Mall with a planned renovation.

Board To Meet on Proposed School Boundary Changes for Clark and Hunter's Green Elementary Schools

Item 7.04 of The Hillsborough County School Board’s agenda is the proposed school boundary adjustments for New Tampa's Clark Elementary and Hunter's Green Elementary Schools. This should prove to be interesting...

The school board meeting is scheduled for April 15th, starting at 3:00 p.m. at the Raymond O. Shelton School Administrative Center, 901 E. Kennedy Blvd., in Tampa.

Pasco County Property Appraisers Office Assessing Impact of Foreclosures on Home Values

The Pasco County Property Appraiser's office is examining the impact on home values in neighborhoods with high foreclosures according to Chuin-Wei Yap, of the St. Pete Times. The article in the Times further reports that this analysis by the county's property appraiser began this week and it is using foreclosure filings with the county's Clerk of the Court as a starting point for looking at possible neighborhoods with declining property values due to high foreclosures.

Pre-foreclosures and foreclosures have increased dramatically over the past year, locally and nationally. All too often homeowners who are faced with foreclosure, strip the homes bare before vacating the homes, dramatically affecting the value of the home. For the full article in the St. Pete Times click here.

Meadow Pointe Center

Site prep has started for the Meadow Pointe Center, located in the heart of Meadow Pointe at County Line Road and Mansfield Boulevard in Wesley Chapel. The center will include a 17,200 sq. ft. strip mall next to a CVS Pharmacy and a smaller 10,300 sq. ft. strip mall across the street.

Cobb Theatres at the Grove in Wesley Chapel

The 16 screen Cobb Theatres at the Grove in Wesley Chapel is scheduled to open this June and the $11.5 million movie complex will have seating for 2,900. 350 seats in six of the auditoriums will be premium reserved seating (leather seats) in loge areas with food and beverage service until movies start for those of the age of 21 and older (adults only). The upstairs bar and restaurant will have seating for 100.

Cypress Creek Town Center Construction Stops

According to local newspapers today, construction on the Cypress Creek Town Center has stopped indefinitely. The work was stopped pending resolution of environmental permitting issues and activity at the site now is limited to erosion control in preparation for the rainy season. No mention was made that a slowing economy was part of the decision to halt construction.

Meanwhile progress on the two other Wesley Chapel area malls advances. The Grove opened its first phase last fall and the Shops at Wiregrass plans an opening later this year.

New Tampa and Wesley Chapel Market Analysis

Data provided in our multiple listing system for the first quarter 2008 single family home sales shows an average sales price of $343,956. for New Tampa, and $242,646. for Wesley Chapel. The breakdown by sales price brackets is as follows:

* Expressed in 000's. Information deemed reliable but not guaranteed.

Due to rounding, Wesley Chapel % total does not equal 100%