Home Inspections – A Key Element In The Residential Buying Process

Home inspections are an essential part of the home buying process. Whether you’re purchasing your first house, or you’re a seasoned investor, in-depth inspections are often the only way to discover details of a home’s construction and other defects that may not be visible to the untrained eye.

Due to its sub-tropical to tropical climate, Tampa-St. Petersburg homes, especially older homes, are susceptible to termites, mold, mildew and wood rot, in addition to a variety of other maladies. A thorough home inspection will reveal readily observable problems, and a professional inspector will provide his or her client with an objective assessment regarding the conditions of the systems and components of a home. The assessment will also include recommendations to correct any problems the inspector uncovers, but most often it does not include the possible cost of the corrections. These estimates can be derived from the appropriately licensed contractors.

Keep in mind, inspectors look at readily accessible systems for flaws and deficiencies, but cannot reveal every problem that might exist in a given home.

9  Standard Home Inspection Components:

1. Structural Inspection - A thorough assessment of any deterioration of the foundation, floor structure, wall structure, ceiling structure and roof structure.
2. Exterior Inspection – The inspector will check the siding, flashing and trim, exterior doors, decks, balconies, porches, railings eaves, soffits and fascias, grading, surface drainage, walkways, patios and driveways. However, the inspector is not required to inspect shutters, awnings, fences, soil conditions, seawalls or docks unless otherwise licensed and/or requested to do so.
3. Roofing – Roofing materials, drainage systems, flashing, skylights, chimneys and any roof Continue reading “Home Inspections Standard Components” »

Share on Facebook

6 Tips For Motivated Tampa Bay House Sellers               

First and foremost, work with the best real estate broker you can find. Seems simple, but it will entail a bit of homework on your part. Call several Tampa Bay real estate companies, ask for the sales manager and request the name of their top residential seller. Set up an interview, check his or her track record and make your decision.

Accelerate the House Selling Process:

1. Price It To Sell
Your broker will suggest a price range based on recent sales of comparable properties in your neighborhood. If you’re motivated to sell quickly at a fair price, go with the low end of the price range. Today’s buyers are savvy and won’t look at overpriced homes. And, you don’t want to chase the market; it’s a losing game that rarely works to the seller’s advantage.

2. Get Rid Of The Clutter
Buyers want to mentally move in when they look at a house. They want to imagine their furniture filling rooms, their photos sitting on tables, their knick-knacks, their artwork, etc. To let their imaginations run wild, sellers need to de-clutter as much as possible, and then get rid of some more. Don’t strip the place bare, but do keep it simple and open.

3. Give It A Deep Cleaning
Now that you’ve nixed the clutter, hire a crew to give it a professional cleaning. It’s an inexpensive expense. Clean sells!

4. Don’t List Too Long
Buyers are likely to make lowball offers on homes that have been listed for long periods. If your house doesn’t sell in six months, consider taking it off the market for a couple of months so when it’s back for sale it will seem like a fresh new listing.

5. Do The Sniff Test
You know how everyone else’s house has a certain smell? Well, yours does too, but you’re used to it so you don’t smell it anymore. Ask a trusted friend to stop over, take a sniff and give you honest feedback. A subtle fresh, clean scent is what buyers like.

6. To Drop Or Not To Drop
That is often the question. But how much? Think about price brackets, and consider dropping into the next lower bracket since that’s how most buyers shop. It will expose your home to a new and possibly larger market of buyers.

At Chris Hounchell & Associates, Chris is the owner, a broker and the leading sales associate, and there’s no experienced broker in the St. Petersburg-Tampa area that will work harder for you. Contact Chris today at 727-642-9107 to set up an appointment.

Share on Facebook

The Residential Housing Market Is Stabilizing in St. Petersburg-Tampa

Chalk it up to an economy on the upswing paired with extremely low interest rates and housing affordability at all times highs. The St. Petersburg-Tampa housing market is not only showing signs of stabilization, but real growth is reappearing.

According to a recent Tampa Bay Times article, median prices for single-family homes in Pinellas and Hillsborough counties, plus parts of Pasco and Hernando counties, rose seven percent in the last year. Indications are that sales through June of this year could be at their highest in many years. The supply of single-family homes is down while demand is increasing. This could be the good news for which our local housing market has been waiting.

Conventional Tampa Bay Real Estate Sales on Rise

One of the reasons conventional sales rose so dramatically is that the foreclosure and short sales markets have fallen, in some areas dramatically. According to the Times, the flood of foreclosed properties has begun to dry up. And in an improved economy with record low interest rates, buyers are increasingly seeking homes in areas outside of those hit hard by foreclosures.

At Chris Hounchell & Associates, we’re experiencing an upswing in the number of buyers actively looking for single-family homes, condominiums and waterfront property throughout the St. Petersburg-Tampa area. While we continue to experience strong sales of distressed properties, i.e. short sales and foreclosed properties, conventional sales are definitely increasing.

Thinking of buying? We are the leader in residential real estate, pre-foreclosure, short sale and foreclosure markets in the Pinellas County area. For more information, contact Chris today at 727.642.9107.

Share on Facebook

Aerial Tampa Bay Real Estate Photography – An Effective Selling/Buying Tool With A Bird’s Eye View

We occasionally get requests from prospective buyers to look at Tampa-St. Petersburg area properties from the air. And we often suggest that sellers have aerial photographs taken to show off a property to its best advantage. There are distinct benefits to sellers using aerial photography as there are for buyers taking tours of potential neighborhoods and homes. It’s also an exciting and effective way of illustrating the attributes and characteristics certain homes and areas have and their relation to one another.

For viewing homes from the air or for shooting aerial photos, the best choice is to use a helicopter to fly low and slow. Small planes are fine, but often they move too fast and fly too high to get a really good, detailed look. Helicopters can slow to a crawl and even hover in place for a short time. They can also fly sideways and backwards. Try that in a fixed wing aircraft. If a buyer wants an extra thrill, helicopter pilots will often agree to remove the doors, giving passengers beautiful, unobstructed views.

Tampa Bay Sellers: Integrate Aerial Photos Into Video Tours For Maximizing Salability

Integrating aerial footage into video tours of homes and their surroundings, which have become popular with sellers and Realtors®, make the final products more stimulating and valuable sales tools. Buyers, especially those considering purchasing large tracts, waterfront property or new construction sites, benefit from getting unobstructed views and seeing all of the positive attributes of a specific location such as access roads, rooftops and other assets that are vital to closing the sale.

Greater Tampa-St. Petersburg Aerial Photography Choice

Here in the greater Tampa-St. Petersburg area, one choice for meeting all your aerial photography needs is Old City Helicopters. Now in their eighth year flying tours, charters and aerial photo and video assignments, Old City Helicopters operates a four-seat, Robinson R-44 aircraft out of Peter O Knight Airport near Davis Island in downtown Tampa. Call them at 904-824-5506 for additional information.

Ask us, about pre-foreclosure, short sale and foreclosure markets in the Pinellas County area. For more information, call call  727.642.9107.

Share on Facebook

Happy Spring! Happy Passover! Happy Easter!

Happy Everything! Enjoy your holiday weekend with family and friends.  Travel safe, laugh often and hug a bunny.

Share on Facebook

Tampa/St. Pete Home Options: Buy vs. Rent – Which Is Right For You?

We receive a lot of questions from prospective homeowners asking whether it’s better to buy or rent in the current St. Petersburg/Tampa real estate market. Unfortunately, there’s no clear-cut answer that applies to everyone in every market. Following are a series of questions and some thoughts to consider as you’re making your decision.

1. Are you ready to make a long-term commitment to a home for at least five years? If so, buying is probably your best option.
2. Have you saved enough money for a down payment? If so, consider buying over renting.
3. Do you qualify for a mortgage? Visit our Mortgage Calculator to get a feel for how much you qualify for based on mortgage term and interest rate.
4. Are you interested in becoming a part of a community where you can put down roots and make friends? Again, buying is probably the best choice.

Florida Real Estate, Thoughts To Consider:

• As home values rise, the equity in your purchased home also rises.
• Mortgage payments are generally fixed while monthly rents often increase beyond what you might spend on a monthly mortgage payment.
• When considering whether to rent or buy, take a long-term approach. The longer you plan to stay, the greater the advantage of owning your home.
• Homeowners receive tax breaks by deducting mortgage interest and property taxes.
• Consider tapping your IRA for a down payment. Under current law, each individual may withdraw up to $10,000 as a penalty-free (but not tax free) lifetime credit for purchasing a first home. If you’re married, both you and your spouse can withdraw $10,000 for a total of $20,000! And your generous rich relatives are able to use their IRAs to make a penalty-free $10,000 gift to you for a first time home purchase.
• When selling your home, it’s possible that the capital gains you realize could be tax-free.
• There is a great deal of emotional satisfaction in owning your home.

For more information on buying vs. renting, contact Chris today at 727-642-9107.

Share on Facebook

Chris Hounchell and Bay Area Advisers Raise Funds for Moffitt Cancer Center’s Advanced Prostate Cancer Collaboration

Since 2007, Chris Hounchell, Hounchell Real Estate and Bay Area Advisers have raised nearly $250,000 for the Moffitt Cancer Center through their Martinis For Moffitt initiative. In 2010 alone, Bay Area Advisers donated $66,000 to Moffitt’s Advanced Prostate Cancer Collaboration, and over 80 percent of these monies were used to directly help find a cure for prostate cancer.  In only five years, Martinis For Moffitt has become one of the largest external fundraising events for the Moffitt Cancer Center Foundation.

Mark your calendar for July 22nd, and join Chris Hounchell and Bay Area Advisors as they present the 2011 Martinis For Moffitt fundraiser in The Club Level at Tampa’s Raymond James Stadium, one of the area’s signature venues.

Martinis For Moffitt is currently seeking sponsors for the event. Contact Chris Hounchell for more information

Share on Facebook

Chris Hounchell, awarded the Certified Distressed Property Expert (CDPE) designation

Hounchell Real Estate – RE/MAX Metro’s principal, Chris Hounchell, has been awarded the Certified Distressed Property Expert (CDPE) designation after completing extensive training in foreclosure avoidance and short sales at the Distressed Property Institute of Boca Raton, Florida.

Hounchell is a specialist in foreclosed and short sale properties in the St. Petersburg, Clearwater and Tampa Bay areas. Earning this designation enables Chris to better educate distressed homeowners about the alternatives they have to foreclosure, which can destroy a person’s credit rating.

Short sales are an increasingly acceptable option cash-strapped homeowners are utilizing to pay off their mortgage using proceeds from a real estate sale even though the balance may be lower than what is actually owed. Short sales can save homeowners from foreclosure or perhaps bankruptcy. Lenders often consider short sales a viable alternative to foreclosure as it saves them significant time and money.

Share on Facebook

St. Petersburg, FL, Neighborhood                 Placido Bayou – Privacy, Security, Value

Privacy and the security of a gated community are two reasons the 361-acre Placido Bayou community has become one of the most sought after collection of neighborhoods in northeast St. Petersburg, Florida. A wide variety of home-style and lifestyle options, great value, and affordability make Placido Bayou a prime location for those seeking a home close to the lively St. Petersburg downtown area and all it has to offer.

Placido Bayou consists of approximately 636 single-family homes, condominiums and townhouses, most situated on 26-acres of lakes (the largest is 13 acres!) and bayous that attract a diverse collection of wildlife, including an assortment of birds, turtles, otters and two resident swans. Three sides of the community are bordered by 85 acres of protected mangroves, and 10 acres of nature preserves surround the entry. Nearby are some of the finest beaches on the west coast of Florida, and boaters will find easy access to Tampa Bay and the Gulf of Mexico from Placido and Smacks bayous.

Since construction began in the late 1980’s, Placido Bayou has evolved into 11 separate neighborhoods with current prices ranging from the $100,000s for a small condominium to over $1 million for a single-family home. A uniformed guard at the 47^th Avenue NE gate greets all residents and visitors to the deed-restricted community, which is operated by the Placido Bayou Master Association and Board of Directors.

Lifestyle Options Near Lively St. Pete

Biking and walking trails meander around Placido Bayou’s stocked ponds and nature preserves, and within easy walking distance are three

Continue reading “Placido Bayou Neighborhood” »

Share on Facebook

Get Ready To Spring Forward

There’s no better sign that spring is just around the corner  than the beginning of Daylight Savings Time, when it stays lighter longer!

This year, Daylight Savings Time begins at 2 a.m. Sunday, March 11.

Before you head off to bed Saturday night, be sure to turn all your clocks ahead one hour, so you’ll be up and running and on time Sunday morning.

Share on Facebook