Wednesday, November 30, 2011

Cypress Creek Town Center update

2007 file photo
Remember the stalled Cypress Creek Town Center at I 75 & SR 56?  The proposed 1.3 million square foot mall has been plagued with lawsuits and suspended permits since 2007.  Today a federal court reversed a previous district court ruling that the U.S. Army Corps of Engineers improperly examined the impacts to wetlands and waterways in granting the mall a permit, but it also found that the Corps and the developer must address the project's impact to the Eastern Indigo snake, a threatened species.

The St. Pete Times provides the following response to today's ruling from the Cypress Creek Town Center developer, The Richard E. Jacobs Group: "The Jacobs Group is confident that this development will now finally proceed forward."

Home Again Interiors plans to open next week in Wesley Chapel

Home Again Interiors, a home furnishings consignment shop plans to open on December 5th.  The new store is located on BBD in The Shoppes at New Tampa near Beef O Brady's.  If you have furnishings you would like to consign, call:  813.973.8363.

Monday, November 28, 2011

Many Short Sale properties continue to fail to actually close in New Tampa

Short Sale/Pre-foreclosure properties continue to prove to be hard to actually close/sell.

Our local MLS data* shows that the total number of reported Short Sale properties in New Tampa under contract is once again the highest percentage of the three categories:

64% are identified as Short Sales
7% identified as REO/Foreclosures
29% are "normal" sales

Short Sale contracts wait for sellers' lender(s) approval/rejection:

19% of the Short Sale properties currently under contract in New Tampa have been under contract for six months or longer; 25% have been under contract for 3 to 6 months and 57% for less than 3 months.

Compare those percentages to the following for "Normal" listings in New Tampa under contract which don't require approval by the sellers' lender:  2.5% have been under contract for 6 months or longer; 2.5% for 3-6 months, and 95% for less than 3 months.  So, if you are a buyer and are dead set on purchasing a Short Sale home, prepare to wait!

We continue to see that the percentage of total homes that actually close (sell) and identified as short sales is consistently much lower than those that go under contract.

For example, in the past month the short sale homes that sold in New Tampa represented only 12.5% of the total reported sold; REO's/Foreclosures, 15%; and "Normal" homes sold were 72% of the total.

Finally, currently 68% of the New Tampa single family homes listed for sale in our MLS* are "Normal" sales, 29% are Short Sales, and 3% are REO/Foreclosures.

*MLS information deemed reliable but not guaranteed

Saturday, November 26, 2011

Wednesday, November 23, 2011

11 million homeowners underwater--HARP 2.0 may help some refinance to lower interest rate

There is a new federal refi program to lower the mortgage interest rate (not the principal) for some homeowners who are underwater--"HARP 2.0" :  Link.   To check if your current mortgage qualifies as a Fannie Mae or Freddie Mac loan (a requirement to qualify) visit the following sites:  Fannie Mae  Freddie Mac.  Note:  It may not be until December or January when lenders will have specifics in place, so be patient.

Tuesday, November 22, 2011

Sunday, November 20, 2011

Holiday pictures with Santa

Kids holiday pictures with Santa begin on Sunday, November 20th at The Shops at Wiregrass.  See the following link for photo packages and prices and to sign up for "fast pass" reserved dates & times.

*Santa Paws pet pictures on Monday nights at Wiregrass, from Nov 21 - Dec 12 4:00-8:00 pm in Santa's Village.

*Santa Claws pet pictures with Santa at Petsmart stores.  See the following (Facebook page link) for date(s), time(s), etc. I suggest you call ahead and confirm the date(s) and time(s) at your individual store.

Saturday, November 19, 2011

The Fields at Wiregrass

The Fields at Wiregrass

The Fields at Wiregrass in Wesley Chapel is one of two park proposals submitted to Pasco County for consideration.  The other proposal is for a wake park located at the former SunWest mine in Aripeka, using a cable system to pull wakeboarders and skiers.  Funds for the park(s) will be provided by the Pasco tourist development tax which the county has collected for over 10 years, impact fees and future park revenues.

The Fields at Wiregrass:

A proposed 200 acre $25 million regional and national sports tournament complex:
  • 12 multipurpose fields for soccer, lacrosse, field hockey, and football  (1 with TV caliber lighting allowing the broadcasting of championship games.)  2 bleachers per field
  • 3 full sized baseball fields; 1 TV broadcast capable; 2 bleachers per field
  • 3 little league fields; 2 bleachers per field
  • 3 softball fields; 2 bleachers per field
  • 4 concession stands
  • Restrooms
  • 2 welcome centers
  • 1 children's play area
  • 1 maintenance building
  • 1 "amenity building" with canoe launch
  • Press boxes, parking, walking paths, picnic areas, arcade/game room
  • Bicycle racks, flag pole, etc.
It should be noted that in addition to the playing fields, the The Fields at Wiregrass proposal includes "a passive recreation area that includes other amenities that allow for fishing, hiking, canoeing and kayaking, interpretive trails, a boat house and will be interconnected into the larger master trail system throughout the complex and Wiregrass".

Located east of the Wesley Chapel Medical Center under construction on BBD (now called the Florida Hospital Wesley Chapel) and northeast of The Shops at Wiregrass, the proposed park will be accessed initially via the future roads to be built for the proposed Raymond James Financial campus in Wesley Chapel at SR 56 & (future) Wiregrass Ranch Blvd. and eventually via SR 54 and Bruce B. Downs.  (See above survey for proposed park location in green highlighted area.)

If approved by the Pasco County commissioners before the end of this year, the proposed schedule is as follows:

January 2012 - December 2012  Design, permit, and initial marketing of complex
January 2013 - December 2013 Construction of The Fields at Wiregrass
First Quarter 2014  Grand Opening

It is anticipated that The Fields at Wiregrass will generate 20 events per year initially providing 41,000 hotel room nights, with an economic benefit of $8 million yearly to the area.  (As many as 40 events are projected starting in year 5.)  Wiregrass Sports, LLC will operate and manage the complex with Steve Daugherty, a senior sports business professional with Disney Sports Attractions management experience, serving as Chief Operating Officer.

Will the Fields at Wiregrass be approved by Pasco County Commissioners when they take this up on November 30th or will this simply be a Field of Dreams?   In the past, the Board has had a rough go of reaching agreements on sports complexes including the failed Pasco National Tennis Center and the failed Sportsplex USA project.

Thursday, November 17, 2011

Wednesday, November 16, 2011

Sushi Cafe to open

Sushi Cafe
The Sushi Cafe (located next to Panera Bread on BBD in New Tampa) plans to open within a month.

Sunday, November 13, 2011

Friday, November 11, 2011

Veteran's Day 2011

Check out this link for free meals and discounts for veterans and military service members (provided by for Veteran's Day 2011.  Additionally, Tijuana Flats is offering 50% off entrees to veterans and active military.

Thursday, November 10, 2011

What price are homes selling for in Wesley Chapel?

28% of the reported single family home sales for October, 2011 in Wesley were cash sales; 24% new conventional loans, 31% new FHA loans, 5% new VA loans, and 12% were other.

Presently there are over 275 single family homes listed for sale in Wesley Chapel; 57% are normal sales, 39% Short Sales/Pre-foreclosures, and 4% are REO/Foreclosures.

Tuesday, November 08, 2011

Gallagher to address Pasco Alliance of Community Associations

Pasco County Administrator John Gallagher will address the November 10th meeting of PACA and will cover a range of fiscal and policy issues.  The public is invited to attend the meeting which will begin at 7:00 PM at the Land O Lakes Community Center (5401 Land O Lakes Blvd.).

Monday, November 07, 2011

New Tampa Real Estate Report for October, 2011

Over 50 single family homes were reported sold in October, 2011 in New Tampa (33647 zip code) by our local MLS.  80% of the reported sales were "Normal" sales.  For distressed sales--Foreclosures/REO's made up 11% and Short Sales/Pre-foreclosures made up the remaining 9% of the reported sales in New Tampa.  The two October New Tampa home sales that were on the market the longest were two short sales with over 300 days on the market from listing to close.

Currently there are over 300 single family homes listed for sale in the 33647 zip code ranging in asking price from $99,900 to over $2 million.

*Information reported in MLS deemed reliable but not guaranteed

Saturday, November 05, 2011

Tis the season (almost)

There's a bit of nip in the air and they have recently started the assembly of the enormous Christmas tree at The Shops at Wiregrass in preparation for the Symphony in Lights kick off on November 19th.

Fresh market at Wiregrass today

Fresh market at The Shops at Wiregrass (10:00 AM to 3:00 PM)

Friday, November 04, 2011

Wesley Chapel's Kirkland's to open next week

The new Kirkland's in Wesley Chapel located on BBD in the North Woods shopping center (between Target and Marshalls) plans to open on November 9th.

Tuesday, November 01, 2011

Symphony in lights kicks off on November 19th

Symphony In Lights

The annual tree lighting celebration at The Shops at Wiregrass will be held on November 19, 2011 from 5:00 to 9:00 PM with the season kick off of Symphony in Lights, with shows (and snow) nightly through December 31st at 6:00 PM, 7:00 PM, 8:00 PM, and 9:00 PM.

Trimmed with over 250,000 lights, 47 miles of wire, 2,000 watts of sound, and 10 tons of holiday dècor and in concert to the music of the Trans Siberian Orchestra.  Center Court at the mall transforms into a Winter Wonderland of snow flurries and an impressive display of light, sound and snow.

The tree lighting celebration entertainment on November 19th includes live music by Late Night Brass, as well as stilt walkers, costumed characters, face painting, balloon artist, and Bounce House.