Friday, June 28, 2013

Mortgage Rates Take The Biggest Weekly Leap In 26 Years!

The National Association of Realtors reports that the 30-year fixed-rate mortgage took a large jump this week, rising from 3.93 percent last week to 4.46 percent this week -- its largest weekly rise since 1987, Freddie Mac reports in its weekly mortgage market survey.

Fixed-rate mortgages soared with bond yields amid the Fed’s recent remarks on June 19 that it might soon reduce its bond purchase program, which has helped to keep mortgage rates at historical lows. The Fed plans to moderate its purchases of bonds later this year and end purchases altogether by the middle of 2014.

"Higher mortgage rates may dampen some housing market activity but the effect will be muted by the high level of buyer affordability, and home sales should remain strong,” says Frank Nothaft, Freddie Mac’s chief economist.

Freddie Mac reports the following national averages with mortgage rates for the week ending June 27:
  • 30-year fixed-rate mortgages: averaged 4.46 percent, with an average 0.8 point, rising from last week’s 3.93 percent average. It was the highest the 30-year fixed-rate mortgage has averaged since July 28, 2011. A year ago at this time, 30-year rates averaged 3.66 percent. 
  • 15-year fixed-rate mortgages: averaged 3.50 percent, with an average 0.8 point, rising from last week’s 3.04 percent average. Last year at this time, 15-year rates averaged 2.94 percent. 
  • 5-year adjustable-rate mortgages: averaged 3.08 percent, with an average 0.7 point, rising from last week’s 2.79 percent average. Last year at this time, 5-year ARMs averaged 2.79 percent. 
  • 1-year ARMs: averaged 2.66 percent, with an average 0.5 point, rising from last week’s 2.57 percent average. A year ago at this time, 1-year ARMs averaged 2.74 percent. 
Source: Freddie Mac

Thursday, June 27, 2013

Cash sales make up large percentage of Wesley Chapel YTD home sales

An analysis of the year to date single family home sales reported in our local MLS shows a high percentage were reported as all cash sales.  Most of those sales were likely to investors.

Stats on YTD all cash Wesley Chapel single family home sales:
  • 41% of all reported sales were cash sales
  • The average sales price of the all cash sales was $174,622
  • Sales prices ranged from a low of $57,000 for a home with Chinese drywall to a high of $525,000
  • The average cash sales price was 99% of the list price.
Presently there are less than 170 single family homes listed for sale in Wesley Chapel with an average list price of $351,142.   Less than 30 of those are under $200,000 as that is the preferred price point for real estate investors and they tend to get gobbled up quickly.

Wednesday, June 26, 2013

Pasco approves Estancia at Wiregrass CDD in Wesley Chapel

This week the Pasco Board of County Commissioners approved establishing a Community Development District for Estancia at Wiregrass.  The planned 1,181 detached single family home community is bordered on the west by BBD, on the south by Chancey Rd. (Future), and on the east by Wiregrass Ranch Blvd. (extension of Mansfield Blvd. currently under construction).

Wednesday, June 12, 2013

Pasco County Survey

The Board of County Commissioners is asking Pasco County citizens to voice their opinions and ideas by participating in the 2013 Online Citizen Survey. The BCC will use the information from this survey and other feedback methods to assist with upcoming budget decisions.

The Pasco County Online Citizen Survey will stay open until Friday, June 28th at midnight. More than 1,200 residents have taken the online survey, but they need to hear from more of you. The survey includes a series of questions about our community and quality of service delivered. The Board of County Commissioners will use the opinions and ideas shared on the surveys to assist with the budget decisions and business planning.

Link to survey

Friday, June 07, 2013

Happy National Donut Day!

In honor of National Donut Day, get a free donut (while supplies last) when you purchase any beverage at participating Dunkin Donuts restaurants.

Thursday, June 06, 2013

Meadow Pointe real estate report for June, 2013

Meadow Pointe (Copyright Russ Perlowski)
MLS* reported May sales of single family homes in the popular Wesley Chapel community of Meadow Pointe show significant improvements over last year:

May sales of single family homes in Meadow Pointe:
2012:  15
2013:  26
% of "Normal" Sales
2012:  33%
2013:  65%
Average Sales Price:
2012:  $157,800
2013:  $185,086
Average Sales Price/Sq. Ft.:
2012:  $77.25
2013:  $85.74

The inventory of single family homes in Meadow Pointe is VERY low with fewer than 10 homes currently active on the market in MLS.

Virtual Tour of Meadow Pointe:

*Information/data reported in MLS deemed reliable but not guaranteed

Wednesday, June 05, 2013

Homesteads of Saddlewood

The Homesteads of Saddlewood is a gated equestrian community located in Wesley Chapel.  Most of the homes in the community are custom built and many have fenced in acreage for horses. 

Currently there are 7 active listings of homes for sale in the Homesteads of Saddlewood with prices ranging from $259,900 to $500,000 and here's a link to a virtual tour of my featured listing in the community.

Tuesday, June 04, 2013

May, 2013 real estate stats for New Tampa

New Tampa Lakefront Home For Sale in Cory Lake Isles
Contact Russ Perlowski, People's Choice Realty
for additional information:  813.505.7460

The May single family home sales reported in our local MLS for New Tampa (Zip code 33647) show improvements over a year ago*:

Average reported sales price:

May, 2013 $289,212.
May, 2012 $248,312

Average reported sales price/sq. ft.

May, 2013 $101.82
May, 2012 $91.55

"Normal" sales %

May, 2013 80%
May, 2012 74%

Distressed sales % (Short Sales + REO/Foreclosures):

May, 2013 20%
May, 2012 26%

Currently there are over 200 single family homes actively listed for sale in our MLS with prices ranging from $115,000 for a 1,297 sq. ft. foreclosure, sold "as is" in Cross Creek, to $2,000,000 for a 6 bedroom, 7 bathroom pool home in Cory Lake Isles.

*Information reported in MLS deemed reliable but not guaranteed.  Stats calculated on sales reported in MLS through June 4, 2013 at 9:00 AM.

Saturday, June 01, 2013

The 2013 hurricane season begins today and the time to prepare is now!

The official hurricane season begins today and while we have been fortunate to live in an area that has been virtually free of hurricanes we still must be prepared.

The following is a suggested list to use for hurricane preparedness. While it is not intended to be an all inclusive checklist, it serves us all as a good starting point to be prepared.  Remember, the first 72 (hours) are on you!
□ WATER: Drinking water—at least 1 gallon per person/day for one-two weeks
□ MEDICAL: 4 weeks supply of prescription medicines, First Aid Kit, antiseptic, pain reliever, bandages, & insect repellent
□ ICE CHESTS: Two, one for ice, one for food & don’t forget the ice
□ CASH/GAS: ATM’s, credit cards, & gas pumps may not work
□ REPAIR SUPPLIES: Plastic tarp for windows or roof repair, duct tape
□ TOOLS: Manual can opener, hammer, nails
□ PAPER/DISPOSABLE PRODUCTS: Paper towels, disposable plates, cups, toilet paper, & eating utensils
□ INFANT NECESSITIES: Medicine, sterile water, formula, diapers, bottles, OTC meds
□ BATTERY OPERATED APPLIANCES: Radio, camera, portable television, fans, and batteries
□ CLEAN UP SUPPLIES: Mop, buckets, towels, plastic garbage bags, bleach/disinfectant
□ FIRE/LIGHT: Charcoal, lighting fluid, propane, matches, lanterns/flashlights and batteries
□ LINENS: Pillows, blankets, sleeping bags, air mattresses Try to wash all laundry prior to storm.
□ PERSONAL HYGIENE: Deodorant, disposable wipes, contact lens solution, toothpaste, etc.
□ NONPERISHABLE FOOD: Powdered/canned milk, canned/bottled juice, canned meats & fish—Spam, chicken, ham, tuna, cereal, cookies, crackers, peanut butter, jelly, bread
□ WATER TIGHT CONTAINERS FOR DOCUMENT STORAGE: Place insurance policies, birth certificates, wills, proof of pet vaccinations, etc. in water tight containers
Pet food and pet carriers.  Don't forget about Fido and Fluffy!  Should you decide to leave the area with your pets and need motel accommodations, visit:  for "pet friendly" accommodations.

Also, visit for disaster planning, etc.

Additional useful websites:
National Hurricane Center:
Bay News 9 Klystron radar pictures:
There are even iphone apps for hurricane tracking! 
Lastly, consider purchasing an emergency radio/flashlight such as this one.

Hurricane Expo Today

Hurricane Season starts today and it’s time to get prepared! Today, June 1, from 9 a.m. to 2 p.m., The City of Tampa and Hillsborough County in partnership with MOSI will host the 2013 Tampa Bay Hurricane Expo. Admission is free, and includes access to MOSI’s Astronaut Training Adventure, numerous exhibit galleries and discounted admission to an IMAX Dome Theatre film. Attendees will learn what to do before, during and after a storm, as well as the importance of having a solid disaster plan in place to quickly recover after a storm. There will also be a Q & A session with local weather experts and meteorologists, and a chance to hear and learn from a panel of storm survivors. For the kids, Radio Disney will also be onsite with kid-friendly entertainment, games and activities. MOSI is located at 4801 E. Fowler Ave., Tampa. For more information, visit, or call MOSI at 813.987.6000.