Monday, May 31, 2010

10 Worst Chinese Drywall Manufacturers Identified

A number of local homeowners with homes built by different builders have been affected by toxic Chinese drywall and are in different stages of remediation.  The US Consumer Product Safety Commission this past week has named the 10 worst manufacturers of Chinese Drywall
  • Knauf Plasterboard (Tianjin): (year of manufacture 2005) China
  • Taian Taishan Plasterboard: (2006) China
  • Shandong Taihe Dongxin: (2005) China
  • Knauf Plasterboard (Tianjin): (2006) China
  • Taian Taishan Plasterboard: (2006) China
  • Taian Taishan Plasterboard: (2006) China
  • Shandong Chenxiang GBM (C&K Gypsum Board): (2006) China
  • Beijing New Building Materials (BNBM): (2009) China
  • Taian Taishan Plasterboard: (2009) China
  • Shandong Taihe Dongxin: (2009) China  
Additional helpful links:

Center for Disease Control on Chinese Drywall:

US Consumer Product Safety Commission:

Florida Department of Health on Chinese Drywall:

Senator Bill Nelson has been active with the Chinese drywall issue:

Lastly, if you suspect that you are a victim of toxic Chinese drywall I strongly suggest that you speak with a real estate attorney!

Wednesday, May 26, 2010

TECO & Pasco reach agreement on utility relocation at SR 56 & BBD

After months of disagreement over who's responsible for the cost of utility relocation at the intersection of SR 56 and Bruce B. Downs, an agreement was approved in yesterday's Board of County Commissioners meeting. Work on the future massive intersection at SR 56 and BBD has been delayed due to a major disagreement over who was to pay the estimated $600,000 cost.

Previously, this future mega intersection was described as:   "the largest in the county and reported to be the second largest in the nation, with triple left turn lanes in each direction".  The intersection utilities relocation project could now be completed as early as August.

Monday, May 24, 2010

Market update for Grand Hampton in New Tampa

Sixteen single family homes in Grand Hampton were reported sold in our MLS in the past month*.  Reported sold prices ranged from $150,000 for a three bedroom, two bathroom short sale home (that went under contract in October, 2009 and closed last month) to $360,000 for a four bedroom, four bathroom, 3 car garage home.  This gated and guarded New Tampa community offers resort like amenities and current Grand Hampton single family homes listed for sale have asking prices up to $700,000.

*Homes reported sold listed and sold by various participants in our MLS.

Friday, May 21, 2010

Grand Opening of AJA at The Shops at Wiregrass today

Info on today's Grand Opening of Aja at The Shops at Wiregrass in Wesley Chapel has been released:
  • Doors open at 4:00 p.m.
  • Live music by Blond Ambition from 6:00 p.m. to 10:00 p.m.
  • DJ Deville from 10:00 p.m. to 2:00 a.m.
  • Full menu served until 1:00 a.m.

Limited table reservations at (813) 781-6335.  Additional info

The bar menu features a variety of cocktails with over 30 specialty cocktail martinis and a reserve wine list along with top shelf liquors and wines and beers. Happy Hour daily from 4:00 p.m. to 8:00 p.m.  (Open Tuesday thru Sunday.)

Some Cory Lake Isles homeowners still struggling to resolve bond debt

In January, 2009 some homeowners in the New Tampa community of Cory Lake Isles discovered what appeared to be a previously unknown bond debt, and today many are still struggling to understand how the bond debt affects them and their options.  Phuong Nguyen of the St. Petersburg Times, today writes that some have sought legal counsel and some have had title companies fork over money for not identifying the debt before/at closing.  Read the full article from the St. Pete Times in today's paper.

Thursday, May 20, 2010

Wesley Chapel Short Sales

You've all heard about Short Sales / Pre-foreclosures which require the Seller's lender(s) approval of the Purchase Contract terms and price.  Here's a recent analysis of year to date sales reported in our MLS for single family homes in Wesley Chapel*:

  • 220 Single Family Homes were reported sold (year to date) in Wesley Chapel
  • Of the 220 single family homes reported sold only 37% were identified in our MLS as Short Sale / Pre-foreclosures.
Currently there are 245 single family Wesley Chapel homes in our MLS reported under contract.  70% of those are identified as "Short Sale" contracts.  A large number of those short sale contracts will end up not closing for a variety of reasons such as:
  • Seller's lender(s) won't accept sales price
  • Counter offer by Seller's lender not accepted by Buyer
  • Seller's lender doesn't respond to offer within designated time period of contract and Buyer chooses not to wait indefinitely
  • Seller's lender deems that Seller does not qualify for a "short sale" based on hardship package presented by Seller
31 of the Wesley Chapel single family homes currently under contract and identified as Short Sales have been under contract since 2009 (and 2 since 2008)  and have not yet closed!

Typical time from contract to closing is 4 to 6 weeks when the home is not a short sale/pre-foreclosure.
*Information deemed reliable but not guaranteed.  Required National Association of Realtors Disclaimer:  No, I did not sell all the homes reported sold in Wesley Chapel year to date!  These reported sold homes were listed and sold by a variety of participants in our MLS.

Monday, May 17, 2010

Wesley Chapel tidbits from last week....

Here are a few Wesley Chapel  tidbits that came up last week:

$33 million ----------------The amount of money in the state budget for Pasco - Hernando Community College this year to help with construction costs of the new Wesley Chapel campus adjacent to Wiregrass Ranch High School.  (Groundbreaking isn't expected until 2012.)

August 2010 ---------------The latest date for the newly assigned road builder for SR 56 extension to have the (previously delayed) Mansfield to Meadow Pointe Blvd. segment opened.  (How many times has this extension been delayed over the years?)

Friday, May 14, 2010

AJA at Wiregrass opens tonight!

Assistant Manager, Jason Del Riccio says that AJA at The Shops at Wiregrass opens tonight (May 14th) at 8:00 p.m. and will have its grand opening on Friday, May 21, 2010 with a live band.  Del Riccio adds that AJA features three bars and will have a different concept nightly.

Thursday, May 13, 2010

Linksters Tap Room in New Tampa

Linksters Tap Room in New Tampa is now open for business.  Hours:  Noon to 3:00 a.m.  Phone:  (813) 971-3413.

Wednesday, May 12, 2010

Land swap of 40 acres of Wesley Chapel land between Pasco & Wiregrass Ranch

Pasco County owns 40 acres of Wesley Chapel land adjacent to Saddlebrook Resort that is designated for future park/recreational use, but the land is landlocked (there is no access to it via public roads).  The county parcel previously was eyed for the Pasco County National Tennis Center, but that deal between the county and Saddlebrook fell through one year ago.  More recently the land has been considered for other recreation uses but access has been an issue.

Both local newspapers reported today that talks are underway  between Pasco County and Wiregrass Ranch land owners to swap that land with 40 acres of Wiregrass Ranch land.   The Tampa Tribune revealed that the Wiregrass Ranch parcel under consideration in the land swap is located "near Mansfield and SR 56" (putting it very close to the future Pasco Hernando Community College campus) and also "next to about 100 acres where a developer has proposed building a complex of hockey rinks and sports fields."  No specifics were provided on whether the new location would now put Wesley Chapel back into consideration for the Sportsplex USA project which met opposition from residents over its proposed location in Trinity and currently does not have a designated site.  Stay tuned, I am sure more details will follow!

Monday, May 10, 2010

Final Pasco County community budget meeting

A final Community Budget Meeting is scheduled for 2 to 4 p.m. on Saturday, May 15, at Wesley Chapel High School's Performing Arts Center.

Wednesday, May 05, 2010

Heritage Isles bondholders seeking documents

The Tampa Tribune reports that bondholders are seeking documents six months after the Heritage Isles Community Development District "defaulted on bond payments as a result of a lack of revenue from its low-performing golf course".

According to the Tribune article, a representative of the bondholders has requested copies of documents about the golf course operations and the debt retirement agreement from 2005.

Full story from the Tampa Tribune.