tampa4u's Blog: REAL ESTATE stuff

In the tunnel that is the Tampa Bay area Real Estate market, there appears to be some sort of light. Usually we say the light at the end of the tunnel, but we aren’t near the end of this tunnel. But there is a shimmer of light inside the tunnel.

The Fed’s lowered the rate last week, and now the rates are going back up. This is a good sign of things to come. When the rates go up after they have been down, it is because of demand. Consumers jump on the wagon and the banks raise the rates to get a little bit of their money back.

When the banks get over-whelmed with home buyers and homeowners looking to get a mortgage or refinance an existing one, they have to raise the rates to slow the push back down and make some profits as well. It happens all the…

If the last couple of days is any indication of things to come, then we're all looking at a very bright 2009. We have been swamped the last couple of days. We're back to getting hundreds of emails a day, as oppose to 20 emails a WEEK the past couple of months. Maybe it's just January but then again, usually January is a slow month. Stock market started on a bright note also so hopefully people are realizing the opportunities at hand.

Wishing everyone the very best year yet. Cheers!

Location, location, location, applies to Real Estate offices as well. Yet you will find some tucked away in a no-traffic strip mall or in the 3rd floor of a high rise building. Truthfully, a year ago, I didn't think it really mattered.

I was reluctant to have an office in Channelside. Although it is one of the most visited streets in Tampa and having an office there would give us the high profile we wanted, the numbers didn't make sense. The numbers didn't make sense either for us to start our own brokerage. We would have made more money staying in our current brokerage with our team. But my husband wanted it. He said his guts told him that's the direction we should go. We debated about this for a long time and although the numbers still didn't make any…

Almost every other day, we'll get a call from a seller wanting to know if we have buyers who may want to buy their property.  Apparently sellers know we have buyers. Question is, why didn't they list with us in the first place? - Because sellers don't look online for an agent or brokerage to list their homes. They start looking online when they become anxious after 60 days without a showing. This have been very frustrating. How can we get the message to the sellers that the buyers are online and that the best exposure for their listings will be online. Thru postcards? Bench advertising? Billboards? Thru farming?

So far we've gotten listings thru referrals and from past clients who are now selling. But the goal is to have as many sellers as we have…

As a real estate agent, you may have the tendency to see the homeowner and immediate take note of how they look on the outside as a correlation to the money they may have to spend on a home. There is fault in this judgment, both on a moral level and on a professional level. Let’s walk through a scenario for a bit.

A man and a woman walk into your office seeking a home. They do not have a new car, their clothes are not designer and they look as though they are simple, middle class people. You immediately ask if they have sought after a mortgage and been preapproved and they state they have not. Their accent kicks in and reminds you of a country song. Now you have totally turned off to the needs of this potential home buyer and tell them you are very…

This gated community is full of large homes on beautiful properties.  There are 91 homes with 4 to 5 bedrooms each.  These homes are spacious and beautiful with the land being glorious and glamorous.  There is truly a feeling of being on top of the world in this gated community.  This beautiful location boasts beautiful tennis courts and a gated park.  There are many great views one can see from their home in this glamorous gated community.

The downfall is that there are many rules that one must follow to preserve the quality of life for all residents and the resale value of the home and the neighborhood.  These rules are a combination of city ordinances, community covenants and board rulings.  Some of these rules include the ability to change the…

When it comes to financing, you will be face with a lot of decisions. Knowing what to do and what not to do will help you to get the best deal.

The DO’S:

Pay your existing mortgage payments on time.
Pay all recurring debts on time, because there is a chance that your credit will be run again before the close of escrow.

The DON’TS:

Open a new credit line.
Purchase new furniture or a new automobile (including leasing the vehicle). A car payment on your credit report can greatly reduce your purchasing power on a home. Get the house first, then think about the car later.
Transfer funds or change banks without consulting the loan officer first.
Put more debt on your credit cards.
Change or quite a job without consulting the loan officer…

Homeowners’ Associations are legal entities that are created to enforce deed restrictions and provide upkeep for common areas.  These associations are more common in condominiums and in the newer subdivisions.  They are typically created when the community is first developed.  A document called the Covenants, Conditions & Restrictions (CC&R) is issued to all new homeowners and these rules are expected to be followed so the value of the properties in the development are not negatively affected. 

Membership to the homeowners’ association is mandatory for all homeowners within the development and members are typically charged an annual fee.  The association has the legal ability to not only enforce city codes but also those regulations found in the CC&R. …