New traffic signals on SR 56

The new traffic signal on SR 56 at Mansfield Blvd. is now working and the other one at SR 56/Meadow Pointe Blvd. in Wesley Chapel is flashing red and should be operational soon too.

Pasco County to slash new home impact fees

Under pressure from the home building industry, Pasco Commissioners unanimously agreed to cut new home impact fees by as much as $10,000. on single family homes.  Examples of a revised impact fee schedule:

Transportation fee currently is $10,302 and proposed is $5,700.
Fire:  Current $248 and proposed is $27.
Library:  Currently at $144 with $15. proposed
Schools:  Currently $4,876 proposed as little as $398.

The final vote by commissioners is scheduled in March.
Additional info. from the St. Pete Times.

Spring is in the air!

Foreclosure sales rule in YTD Wesley Chapel Single Family Home Sales

An analysis* of the year to date sales of single family Wesley Chapel homes reported sold in our MLS shows that distressed sales (Short Sales/Pre-foreclosures & REO's/Foreclosures) made up the majority of the sales with foreclosures leading the three categories.

Considering the general poorer conditions of distressed sale homes, it was not surprising that they sold at a significantly lower price per square foot, with REO/Foreclosures selling at the lowest $/Sq. Ft.:

19% of the YTD "traditional" single family home sales were reported sold at list price or above; 39% of the REO/Foreclosures and 31% of the Short Sale/Pre-foreclosures sold at list price or above.

The longest time it took from contract to close on homes was with two "Short Sale"/Pre-foreclosure homes.  One went under contract in January, 2010 and closed almost a year later in January of this year, and another went under contract in August of 2009 and closed in February of 2011.

There are plenty of "traditional" single family homes listed for sale in Wesley Chapel  and considering the large volume of  REO/Foreclosures & Short Sales/Pre-Foreclosures, it looks like it will continue to be a buyer's market for some time. 

*Information reported in MLS deemed reliable but not guaranteed.

House Renters Beware!

This week the local media has reported on a number of alleged house rental scams in Pasco and Hillsborough, ranging from accusations of forging signatures on deeds to an individual claiming "adverse possession" and renting out homes to unsuspecting renters.


More on the adverse possession "epidemic".  Similar situations have occurred in the past couple of years in New Tampa in 2010 and in Wesley Chapel in 2009.

No dead end for New Tampa Boulevard



New Tampa Blvd. dead end

New Tampa Blvd. currently dead ends but that is about to change.  The Tampa Transportation Division is seeking contractors interested in submitting bids for the bridge project over I-75 connecting New Tampa Blvd. to Commerce Park Blvd.  It should take about four months to select the bidder for the New Tampa Blvd. extension, with construction to begin later this year.

Dollar Tree at Market Square in New Tampa

Sign announcing Dollar Tree next to BJ's Wholesale Club in Market Square. 

Underwater homes the new "normal"?

The Tampa Bay Business Journal recently reported that nearly half of homeowners in Florida had mortgages that were underwater (worth less than what is owed). CoreLogic reports that Pasco and Hillsborough counties are in the top 25 counties in the nation with the highest percentage of mortgages underwater.  We are not alone.  CoreLogic, also reports that while Florida had a negative equity of 46 percent, two other states had higher rates of negative equity--Nevada (67 percent) and Arizona (49 percent).  The following video shows the impact on some underwater homeowners in California.

    Government efforts to help underwater homeowners have not yet been well received by banks and homeowners can only hope for an imminent death knell for the housing recession.  That's one bell that can't ring soon enough for any of us.

Wesley Chapel's Celebration Of The Arts 2011 show to be held in April

The fourth annual Celebration of the Arts will be held at The Shops at Wiregrass on April 9th and 10th, 2011.  Exhibitor rules, regulations, & application

Meet the candidates for Mayor of Tampa

The New Tampa Chamber of Commerce will host a Tampa mayoral candidate forum on February 14, 2011 from noon to 1:00 at the Pebble Creek Golf Club (10550 Regents Park Dr.). Ticket costs for the town hall style forum are:  $15 pre-registered by Feb. 11 , $20 at the door.  Additional info.

School Superintendent to address PACA this week

Pasco County’s superintendent of schools will discuss school boundaries, class sizes and other issues when she addresses the Pasco Alliance of Community Associations on Thursday, Feb. 10, 2011.

Superintendent Fiorentino also will discuss budget matters and the academic issues facing the district. After her remarks, Ms. Fiorentino will answer questions from PACA members and the public.

The public is invited to attend the meeting. It begins at 7 p.m. at the Land O’ Lakes Community Center, located at 5401 Land O’ Lakes Blvd. (US 41), three miles north of SR 54.

Mini of Wesley Chapel breaks ground

Another new car dealership is coming to Wesley Chapel.  Mini of Wesley Chapel broke ground on its 14,000 sq. ft. dealership last month.  The new dealership plans to open this summer and is located on SR 56 next to Synovus bank, just east of I-75.

Heritage Isles real estate report

Five single family homes in Heritage Isles were reported sold in January by our local MLS.* 80% of those were distressed sales (Short Sales/Preforeclosures or Foreclosures/REO's). The reported sales prices ranged from $87,500 for a 3 bedroom home to a high of $315,000 for a 5 bedroom, 3.5 bath, 3 car garage, pool home. Currently over half of the single family homes listed for sale in Heritage Isles are distressed properties and list prices start at $91,575.  *Information provided by MLS deemed reliable but not guaranteed.

Come on down!

For the readers of this blog up in the midwest and northeast:

Fresh market at Wiregrass

The monthly fresh market at The Shops at Wiregrass will be held this Saturday, February 5, 2011 from 10:00 to 3:00. Local food, crafts, and live music!