St. Petersburg/Tampa Area & National Housing Prices, Demand Continue To Rise

In a recent blog posting, we recounted that prices and demand are both on the rise in the St. Petersburg-Tampa area real estate market. Our conservative take mentioned an almost eight percent bump in home sales.

What the Pros are Saying

However, a new report by MarketWatch not only confirms the trend, but also jumps the increase to over 20 percent from the same time last year.

In a related report, CoreLogic, a private real estate data provider, recently said that home prices increased by 4.6 percent in August compared to a year ago. This represents “the largest year-over-year increase in more than six years,” according to CoreLogic.

MarketWatch.com claims that for the first time in too long a time, “the supply of both new and used homes available for sale has dropped below demand,” and that “prices are rising both quarter-to-quarter and year-to-year for the first time in two years.” This is great news for sellers, and a call to buyers to get off the fence and don’t delay as prices continue their upward climb.

Couple with increased prices, mortgage interest rates are at 60-year lows, and we have a market where homes are more affordable now than they have been in nearly a quarter century.

MarketWatch says that with the 20 percent increase, and pending sales at a 2-1/2-year high, inventory is dwindling, foreclosures and short sales have slowed, selling prices are rising, and buying is on the rise.  As a result, the buyers market is beginning to turn in favor of sellers.

As we said in our earlier “Good News For Tampa Bay Home Sellers” blog…For buyers, the message is clear…the days of putting off the decision to purchase a new home in order to get a better price are over.

Don’t delay, contact Chris Hounchell & Associates today for a free home evaluation.

 

DON’T FORGET TO VOTE 2012!

Vicky O’Donnell Expands Role with Chris Hounchell & Associates

Vicky O’Donnell has expanded her role with Chris Hounchell & Associates to include Buyer and Seller Representation, Marketing Administration and Account Management. Chris Hounchell, owner/team lead of Chris Hounchell & Associates, made the announcement.

Vicky has consistently achieved multi-million dollar sales production levels throughout her different careers, and now she brings those experiences together to specialize in all phases of relocation services. Her 20-years of exceptional experience in direct sales is based upon her commitment to providing the highest level of client service backed by integrity and dedication.

Vicky, who relocated to Florida from upstate New York, graduated from the Rochester Institute of Technology with a B.S. in Business Administration, and immediately began her impressive career in business-to-business sales.  She makes her home in Indian Rocks Beach where she takes full advantage of all the St. Petersburg-Tampa area and beaches have to offer.

Great job, Vicky!

 

Go Gators! Awesome Win Over South Carolina!

 

Good News For Tampa Bay Home Sellers – Rising Prices & Increased Demand

We’ve been watching the positive signs for some time now, but according to national and St. Petersburg – Tampa area research, home prices are up almost eight percent over last year while some Realtors® claim the increase is more like 20 percent. Add to that a decrease in the average “time on market” from 67 days in 2011 to 41 currently AND interest rates at 60-year lows and a rosier picture appears, especially for sellers.

It’s a simple case of supply and demand. According to a recent MarketWatch.com article, for the first time in several years the demand for new and used homes has exceeded the supply. Pricing stability and even increases are already a reality.

For buyers the message is clear…the days of putting off the decision to purchase a new home in order to get a better price are over.

According to the Greater Tampa Association of Realtors, there’s been a 34 percent decrease in the number of homes currently on the market compared to last year, and the overall inventory of homes has declined from a 10-month supply to just 5.5 months in that same period. As a result, buyers are pulling the trigger 20 percent faster than last year, and the gap between asking and selling prices tightened up significantly.

In Pinellas County, the picture is just as optimistic. The Pinellas Realtor Organization recently reported that median home prices AND sales increased 16 percent over last year.

All this bodes well for the St. Petersburg-Tampa economy. As property inventories decrease, an increase in new home construction is sure to follow. Subsequently, jobs will be created, suppliers’ sales will grow, demand for home furnishings will strengthen and economic recovery will continue to be a reality.

The opportunities to buy or sell a home in the St. Petersburg-Tampa area abound, and there’s never been a better time to become a homeowner. There’s also never been a better time to live in or relocate to the Tampa Bay area.

Chris Hounchell & Associates is the leader in general real estate, pre-foreclosure, short sale and foreclosure markets in the Pinellas County area. For more information, contact Chris today at 727-642-9107.

 

Stay Hurricane Ready – Tampa, St. Pete – Tips for Tropical Weather Planning

As we’ve already been reminded, tropical storms and hurricanes are a fact of life during Florida’s summer months. Technically, the hurricane season runs from June 1 through the end of October, but we’ve had some doozies as late as November, so stay tuned into the tropical weather forecast at least until after Thanksgiving.

Here in the Tampa-St. Petersburg area, we’re susceptible to coastal flooding, storm surges, heavy wind and rain, all as a result of tropical weather getting a bit too close, or even right on our doorstep. Following are some guidelines to keep in mind to keep yourself, your family, your home and your belongings as protected as possible in case a tropical storm or hurricane strikes…

• Stay informed about the weather. Be a weather watcher. If you know there’s a disturbance in the Atlantic, the Gulf of Mexico or the Caribbean, keep up-to-date as to the storm’s location and movement. Battery operated weather radios are inexpensive and reliable.
• Be Prepared – Put together a basic disaster supplies kit and store it in a location that will be readily accessible if needed.
• Develop an Emergency Plan. Know exactly what you’ll do in case you need to ride the storm out at home and especially if you’re ordered to evacuate. Evacuation orders should be taken very seriously. Know where you’ll go, or know where your closest emergency shelter is located and how to get there. Keep in mind that you’ll only be able to bring bare necessities, and pets are not allowed. Owners should make plans in advance for the care of their pets.
• Know your evacuation route(s). Most communities on the west coast of Florida have established evacuation routes identified by signs along roadways. Be sure to know your route and even practice it if you’re not familiar with certain streets or highways. Check with your local municipality if you’re unsure as to what route to take to safety.
• Prepare yourself. If you have health requirements that might be interrupted by a storm or the need to evacuate for any length of time, plan in advance for what you need, and have the necessary medications and equipment on hand and ready to take with you when you leave your home.
• Leave immediately. This cannot be stressed too strongly. Once the order to evacuate has been given, get out. Time is of the essence. Roadways may become clogged with traffic, and as the storm draws nearer, they may be blocked by water and debris. Leave immediately if ordered!
• Be risk aware. Obviously, tropical storms and hurricanes are dangerous and should be taken very seriously. Don’t be fooled that all is clear when the calmness of the eye of the storm passes over. Once the eye passes, winds may change direction and may quickly return to hurricane force. Be on the watch for tornadoes; they often accompany hurricanes and can be deadly.
• Be patient. Wait until your local authorities tell you it’s OK and safe to return to your home. Hidden risks may pose a threat to you and your family’s welfare if you return too soon. Keep in mind that recovering from a major storm is a gradual process that takes time. There can be safety issues to resolve as well as physical and emotional issues that need to be addressed when coping with a disaster. Take advantage of assistance offered by your local municipality, FEMA (Federal Emergency Management Administration), local fire and police, the Red Cross and other organizations.

 

 

Martinis for Moffitt, Friday, July 20 – Be There!

Here’s a great event to help lend a hand in the quest to find a cure for a disease that claims far too many lives, and it’s coming up right here in our own backyard.

Every day, the Moffitt Cancer Center treats hundreds of our St. Petersburg/Tampa area neighbors who are suffering from prostate cancer. And every day, the Moffitt Cancer Research Center works to find a cure. So, each year since 2006, Chris Hounchell & Associates, and Bay Area Advisors, get together to raise funds to help aid their search.

Join us for the seventh annual Martinis For Moffitt fundraiser, Friday, July 20.

From 7 to 11 p.m. at the Straz Center for the Performing Arts, Morsani Hall (formerly the Tampa Bay Performing Arts Center), we’ll get together for an elegant martini experience that’s rich in Tampa tradition. We’ll socialize, network, enjoy our favorite martinis, bid on fabulous auction items, enjoy delicious hors d’oeuvres, and dance the night away – all for a great cause.

We want you to join us! It’s serious fun.

Since its inception, Martinis for Moffitt has raised over $340,000 for research and patient care initiatives at Moffitt Cancer Center. Over 80 percent of those funds were directly used to help find a cure for prostate cancer, a disease that claims the lives of over 27,000 people each year.

Last year we donated $100,000 to the Advanced Prostate Cancer Collaboration. This year we expect to surpass that.

We need your help!

Sponsorships are still available. Please see the attached sponsorship opportunity package for details. Individual tickets cost $100.00 ($125 after July 1st) and must be purchased online at www.martinisformoffitt.org.

And if you can’t make it, donations will be gladly accepted. Contact us or call (727) 642-9107.

DC Newlyweds Find Perfect St. Petersburg, Florida Home

Well we’re back. And we’re really excited!

You may remember us as the couple currently living in Washington, DC who are looking to relocate back to Florida where we’re both from. In December, we met Chris Hounchell of Chris Hounchell & Associates, and spent a day touring several neighborhoods in the Tampa and St. Petersburg area to get a feel for where we might want to live. We also visited numerous houses to see what our money might buy. At the end of the day, we were focused on several neighborhoods and excited to find just how much our money could buy.

After lots of phone time with Chris, and hours pouring over listings in our target neighborhoods, we returned to Florida in April to spend three whirlwind days. We hoped to find what we were looking for but were in no particular hurry. By the time we arrived at Chris’ office, he had our days all mapped out and we were off.

By the end of the first day, we had narrowed our search to the historic Old Northeast neighborhood, which is just north of St. Petersburg’s bustling downtown and close to the water. By the end of the second day we had found the perfect house. Four bedrooms, two stories, older home with lots of character, a pool (which I insisted on, sometimes over my wife’s objections, but once she saw the sparkling blue water she was hooked), great landscaping, a nice back yard, room for future children, etc.

After a day of discussion and lots of guidance from Chris, we made an offer and held our breaths before returning to DC. Within a couple of days, we received a counter offer from the buyers. Once [Read more…]

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.

 

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.