Ohio Senator unveils new Short Sale plan

Short Sale real estate agent

U.S. Sen. Sherrod Brown (D-OH) unveiled a new plan this week to improve the housing market by addressing “short sale” home sales. Short sales are real estate transactions that must be approved by the seller's lender(s) because the seller owes more on their mortgage than the proposed sale price. Brown’s legislation, the Prompt Notification of Short Sale Act, addresses the lengthy closing process that often comes with a short sale—which can last months—by requiring banks to respond in a timely manner when prospective buyers are attempting to purchase such homes."

“For most buyers, short sales are anything but. The seemingly endless waiting game associated with short sales represents a dangerous drag on our housing market,”.

Don't hold your breath on this passing.  Previous attempts with bills to force banks to act on Short Sales, languish in congress. Example:   A San Diego congresswoman introduced a Short Sales bill last year and it has little chance of passing.  Banks rule; not congress!

Celebration of the Arts 2012 to be held in Wesley Chapel in April

Celebration of the Arts, Wesley Chapel, FL

The fifth annual Celebration of the Arts will be held at The Shops at Wiregrass in April:

Saturday, April 14th, 10am - 6 pm

& Sunday, April 15th, 11 am - 6 pm

Location:  The Shops at Wiregrass

Wesley Chapel, FL

This is a juried show of fine art and fine crafts that include artists who specialize in acrylics, oils and watercolor, metal sculpture, beautiful ceramics and glass, lithographs, photography, jewelry and wood sculpture.  Live entertainment will be provided.

Ribbon cutting for Sheriff's office at Wiregrass

The grand opening/ribbon cutting for the Pasco County Sheriff's new substation at The Shops at Wiregrass (next to Dillard's) will be held on Monday, March 26, 2012 at 11:30 AM.
 
The office will be used for crime prevention resources, volunteers, citizen support services, and public fingerprinting. It will also serve as a district office assigned to the southeast corridor of Pasco county.  The Mounted Posse, the Crime Combat Vehicle, and several staff members will be at the grand opening to talk about the new substation and its value to citizens on the east side of Pasco.

Mini of Wesley Chapel to open tomorrow

Wesley Chapel's newest car dealer opens on Saturday, March 24, 2012 and the Mini's arrived just in time!  Located on SR 56 just east of I-75 in Wesley Chapel.  Info:  Website  Phone:  813.907.3600

Mini of Wesley Chapel

Stage your home before you put it on the market

I always encourage my customers to call me to do a pre-listing walk through for suggestions to prepare the home for sale including enhancing curb appeal and tips on home staging.  This allows them time to get the house in order before it goes on the market and gets shown.  Here are some tips for staging your home:

Lots of Short Sales listings under contract in Wesley Chapel

• Currently 69% of all Wesley Chapel homes reported under contract by our MLS in Wesley Chapel are classified as Short Sales/Pre-foreclosures, 8% are REO's/Foreclosures, and 23% are not distressed sales.  Note:  Only 21% of the homes that actually sold (closed) in the past six months were Short Sales.  (See chart below.)*
• 37% of the Short Sales under contract went under contract last year and have not yet closed, and three have been under contract since 2010.

69% of the homes listed for sale and not under contract in Wesley Chapel are not distressed sales (short sale/Pre-foreclosures or Foreclosures), while 25% are classified as Short Sales.

SEARCH Wesley Chapel single family homes for sale

The following chart depicts the homes reported sold by category for the past six months in MLS.  Note, the percentage of short sales homes that actually closed is much lower than the %  under contract.  Why?  Lenders of sellers can reject the short sale completely because the sellers don't qualify, they may not accept the purchase price and terms of contract offered by the buyers,or the buyers may get tired of waiting for a response for the seller's lender(s), etc.

SEARCH Wesley Chapel single family homes for sale

*Information from MLS deemed reliable but not guaranteed.

Happy St. Patrick's Day!

Fresh market at Wiregrass this Saturday

Don't forget the fresh market at The Shops at Wiregrass on Saturday from 10:00 AM to 3:00 PM.

C & D Delights at the Wiregrass fresh market





BurgerMonger to open in Wesley Chapel

BurgerMonger, Wesley Chapel's newest burger restaurant is set to open on Monday, March 19, 2012.   BurgerMonger is located on Bruce B. Downs in the same center as Bonefish Grill, just south of SR 56 on the east side of BBD.  Menu

Mercedes Homes "winds down" with liquidation

Back in January, I posted here that Mercedes Homes was ceasing operations.

Now this from Mercedes Homes' website:


"Liquidation Disclosure

Mercedes Homes, LLC, a Florida limited liability company, and its subsidiaries and affiliates (collectively "Mercedes Homes") have initiated a plan of liquidation ("Plan") to wind down and conclude business operations. The sale of homes by Mercedes Homes is made pursuant to the Plan. Since Mercedes Homes will be concluding its business operations, Mercedes Homes extends no warranties, either express or implied with respect to any home sale. The only warranty to be provided is a third party warranty issued by Bonded Builder, an unaffiliated third party home warranty provider."

Time to Spring Forward for Daylight Saving Time

New Tampa Real Estate Report for March, 2012

50 single family homes in New Tampa were reported sold last month in our local MLS*.  62% of the sales were normal sales and short sales/pre-foreclosures made up 30% and REO/Foreclosures made up 8% for the month.

The average sold price per square foot (Htd. & Cooled) was $93.84 and the average sales price for the month in New Tampa was $279,473 which is 7.4% higher than in February, 2011!  Reported sold prices ranged from $107,000 to $1,500,000.

Currently there are over 300 single family homes listed for sale in New Tampa.

*Information provided from MLS is deemed reliable but not guaranteed.

Tampa Bay Area distressed home sales down in 4th quarter

Tampa Bay area distressed home sales fell 12 percent in the 4th quarter of 2011 to 20% compared to 24% nationwide.  Only 23% of the single family homes listed for sale in our MLS for New Tampa are distressed sales whereas 35% of the single family homes listed for sale in  Wesley Chapel are distressed.  

Two new restaurants coming to Wesley Chapel--Baja Fresh Mexican Grill and iCream!

Two new restaurants are coming to Wesley Chapel and will be located in the plaza across from Florida Hospital Wesley Chapel under construction on Bruce B. Downs.

Baja Fresh Mexican Grill and iCream (with new technology and cool flavors) will be joining The Hungry Greek, Latin Twist, and Dickey's Barbecue Pit (the other restaurants in the plaza).

Spring into action to prep your home for sale!

Spring is just around the corner and the time when many homeowners decide to put their homes on the market.  It is said that 49% of buying decisions are based on curb appeal!  Real estate mogul, Barbara Corcoran gives some advice on improving the curb appeal of your home which can reduce the time it is on the market and add value. The second biggest mistake homeowners make is not preparing their home for sale with improving curb appeal and staging before it is listed and on the market!   Additional tips on preparing your home for sale.