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St Petersburg Real Estate Market – Where Are We Today?

July 5, 2012 By Leave a Comment

And is it a Buyer’s or Seller’s market?

6,358 – Number of homes listed for sale in Pinellas County as of today.  Same time last year we had about twice as many homes for sale on our market.  What is going on?  Inventory is rapidly depleting, banks are strongly controlling the release of new REOs on the market, many lenders are starting to process their short sales faster (ok, ok, not all of them yet!) and buyers are in their most active shopping mode ever since the market crash.  It is no longer a buyer’s market.  Not in its purest form, anyway.   Yes, there are still plenty of homes that don’t get any offers on them, but reasonably priced properties that are in good move-in ready condition do get multiple bids.  They often sell above the asking price too. This is definitely an attribute of a seller’s market.

However, this is only one side of the story.  The state of the current economy is the other side.  The rates are still phenomenally low.  Why is that?  If the market is going up, so should traditionally do the mortgage rates.  There are still struggles in the market place, buyers are extremely careful about matching their income with their monthly payments, and family budgets are under a watchful eye of the homeowners.  So, we are not out of the woods of recession quite yet.  Unemployment levels are still not satisfactory and with the election coming up the future still holds some unpredictability.

One thing for sure – you’ll never know in advance when the bottom or the top of the market will be.  What’s also important to remember is it’s hard to come out as a winner when selling and buying a home at the same time.

But this interesting season in real estate sure does look favorable (even if short-lived) for homeowners to sell.  This is currently due to low inventory, increased demand and favorable rates.  And buyers, willing to be patient with their search and avoid hard low-balling on good properties, still have a good chance of finding their dream home here in St Petersburg, Florida.

1,572 – Number of properties listed for sale in St Petersburg, Fl today.  I went back to my post from October 26th 2010 and there were 3,388 listed on that day.  This shows us today there’s a 54% drop in inventory of listed for sale homes in St Petersburg compared to that date!

What are your conclusions?  Feel free to comment below or call us at 727-418-9016 with questions.

Filed Under: Home Buying and Selling Tips, Living in St Pete and Tampa Bay, Tampa Bay Real Estate Statistics, Uncategorized Tagged With: , , , , ,

Welcome to St Pete’s Snell Isle

August 10, 2011 By Leave a Comment

European inspired touches throughout Snell Isle

Snell Isle: Oasis in the City

Snell Isle - A Charm Of History

Looking for a serene place in the city where historic homes line shady, winding streets?  A quaint neighborhood that has an authentic “old Florida” charm?  Snell Isle near downtown St Petersburg, Florida may suit you to a tee.  Located just minutes from downtown St. Pete and connected to the city via a lovely bridge spanning Coffee Pot Bayou, Snell Isle is a great place to call home.

The neighborhood’s history dates back to 1898 when C. Perry Snell, a soon-to-be prominent developer of St. Petersburg as we know it, first set eyes on the area during his honeymoon.  Apparently, Snell was a man who could turn his visions into reality.  He eventually developed Crescent Lake, Mirror Lake, and built the intriguing Snell Arcade building.

Canals in Snell Isle

Snell returned to St. Petersburg in 1899 and purchased a swatch of land where Northshore Park is now located.  Around 1911, Snell bought more land (or what could just pass as land) and began the long process of filling the marshy area that would become Snell Isle.  Lots were up for sale by 1925.

Driving through the neighborhood, you can still get a sense of what Snell envisioned for his creation – a tropical paradise with a European flair.  Snell’s travels to Europe provided inspiration for the European style homes and the many statues that dot the neighborhood.  Among the island’s treasures is the St. Petersburg Women’s Club, always a popular spot for weddings and receptions, which occupies a pink-hued Mediterranean Revival building near the island’s entrance.  Long story short, that lovely arched bridge over Coffee Pot Bayou exists due to the efforts of the club’s 1920’s era members to replace the ancient wooden one that fell far short of acceptability.

Do you live in Snell Isle?  What do you love about Snell Isle?  Please comment below.

Source: http://www.stpete.org/neighborhoods/nnsne.asp

www.HomeTeamTampaBay.com   Tampa Bay Real Estate Blog

 

Filed Under: Living in St Pete and Tampa Bay, St Pete Tampa Bay History blog, St Petersburg Neighborhood Reviews, Tampa Bay neighborhood reviews, Uncategorized Tagged With: , , ,

Top 5 Home Staging Tips

May 6, 2011 By Leave a Comment

 

If you live in Tampa Bay here are 5 things you should know about home staging.

If you’re selling a home in St Petersburg or anywhere in Tampa Bay and it’s been listed by a trusted real estate professional you might be left wondering, “What else can I do to help this house sell?”  Well the answer lies with home staging. 

Essentially home staging is a tactic used to improve the chances of capturing a buyer by highlighting the strengths of your home while downplaying its weaknesses.

There are hundreds of home staging tips out there that vary in the amount of money, effort and energy that you have to expend.  So we’ve made it easy by narrowing them down to what we consider our top 5 home staging tips that carry a big bang for your buck (or effort).

1)      Is this place condemned?  Your front entrance will definitely leave a lasting first impression so you want to make sure that it’s a good one.   Clean up and spruce up your front entrance by cleaning, replacing door handles, clearing up clutter and perhaps put out some pretty greenery.

2)      Not everyone will be impressed with your thimble collection – Take an inventory of the possessions that you’ve accumulated and plan to store half of your stuff.  Not only will the place appear larger but buyers will be less likely to be distracted by your belongings.  

3)      Sure that picture of little Tommy on a horse is cute but…- It is critical that your buyers be able to visualize themselves living in your space and it’s difficult to do that with pictures around.  And by removing some of these items you allow the buyer to feel less like they are intruding on someone else’s space but viewing their future space!

4)      Evict the dust bunnies – Clean, clean and then clean some more.  A clean home screams a well-maintained home that has nothing to hide. 

5)      Wow, that lime green kitchen is…ummm…bright – If you can afford to splash on a coat of fresh paint then do so.  Aim for neutral colors so that (again) your buyer can picture themselves living there.   The smell of paint will also leave the buyer with the idea that the property has been recently updated which is a terrific thing.  That is one less thing they have to do when they move in.

Tampa Bay Real Estate Blog.  The Home Team.

Filed Under: Home Buying and Selling Tips, Living in St Pete and Tampa Bay, Uncategorized Tagged With: , , , , , , ,

Screaming deals on houses in St Pete!

April 15, 2011 By 2 Comments

Buying a home in St Pete? You gotta look at these!

It’s no secret there are so many good real estate deals today.  We talk about this on our real estate blog all the time.  In St Petersburg and all Tampa Bay it is still a buyer’s market.  We’ve picked a few options for you today, and even excluded short sales, so if you see something you like you can close quickly!  Take a look and let us know what you think.  There are many more that we can show you, just ask and we’ll be there for you.  We’ve tried to select the best deals in the east area of St Petersburg based on the location and price per sq.ft.

We're sorry, but we couldn't find MLS # 7508657 in our database. This property may be a new listing or possibly taken off the market. Please check back again.

We're sorry, but we couldn't find MLS # 7507674 in our database. This property may be a new listing or possibly taken off the market. Please check back again.

We're sorry, but we couldn't find MLS # 2463605 in our database. This property may be a new listing or possibly taken off the market. Please check back again.

We're sorry, but we couldn't find MLS # 7495834 in our database. This property may be a new listing or possibly taken off the market. Please check back again.

We're sorry, but we couldn't find MLS # 7505876 in our database. This property may be a new listing or possibly taken off the market. Please check back again.

We're sorry, but we couldn't find MLS # 7478575 in our database. This property may be a new listing or possibly taken off the market. Please check back again.

We're sorry, but we couldn't find MLS # 7486715 in our database. This property may be a new listing or possibly taken off the market. Please check back again.

We're sorry, but we couldn't find MLS # 7508357 in our database. This property may be a new listing or possibly taken off the market. Please check back again.

We're sorry, but we couldn't find MLS # 7507822 in our database. This property may be a new listing or possibly taken off the market. Please check back again.

We're sorry, but we couldn't find MLS # 7331532 in our database. This property may be a new listing or possibly taken off the market. Please check back again.

We're sorry, but we couldn't find MLS # 7506326 in our database. This property may be a new listing or possibly taken off the market. Please check back again.

We're sorry, but we couldn't find MLS # 2457974 in our database. This property may be a new listing or possibly taken off the market. Please check back again.

We're sorry, but we couldn't find MLS # 7496541 in our database. This property may be a new listing or possibly taken off the market. Please check back again.

We're sorry, but we couldn't find MLS # 7504481 in our database. This property may be a new listing or possibly taken off the market. Please check back again.

We're sorry, but we couldn't find MLS # 7502154 in our database. This property may be a new listing or possibly taken off the market. Please check back again.

We're sorry, but we couldn't find MLS # 2466166 in our database. This property may be a new listing or possibly taken off the market. Please check back again.

We're sorry, but we couldn't find MLS # 7504796 in our database. This property may be a new listing or possibly taken off the market. Please check back again.

We're sorry, but we couldn't find MLS # 7505181 in our database. This property may be a new listing or possibly taken off the market. Please check back again.

We're sorry, but we couldn't find MLS # 7508383 in our database. This property may be a new listing or possibly taken off the market. Please check back again.

We're sorry, but we couldn't find MLS # 7508725 in our database. This property may be a new listing or possibly taken off the market. Please check back again.

We're sorry, but we couldn't find MLS # 7476922 in our database. This property may be a new listing or possibly taken off the market. Please check back again.

We're sorry, but we couldn't find MLS # 7493090 in our database. This property may be a new listing or possibly taken off the market. Please check back again.

We're sorry, but we couldn't find MLS # 7509496 in our database. This property may be a new listing or possibly taken off the market. Please check back again.

We're sorry, but we couldn't find MLS # 7494843 in our database. This property may be a new listing or possibly taken off the market. Please check back again.

We're sorry, but we couldn't find MLS # 7488687 in our database. This property may be a new listing or possibly taken off the market. Please check back again.

We're sorry, but we couldn't find MLS # 7508368 in our database. This property may be a new listing or possibly taken off the market. Please check back again.

We're sorry, but we couldn't find MLS # 7508322 in our database. This property may be a new listing or possibly taken off the market. Please check back again.

We're sorry, but we couldn't find MLS # 7498713 in our database. This property may be a new listing or possibly taken off the market. Please check back again.

We're sorry, but we couldn't find MLS # 7501358 in our database. This property may be a new listing or possibly taken off the market. Please check back again.

We're sorry, but we couldn't find MLS # 7508414 in our database. This property may be a new listing or possibly taken off the market. Please check back again.


Filed Under: Living in St Pete and Tampa Bay, Weekly Real Estate deals in Tampa Bay Tagged With: , , , , , , ,

TAMPA LISTINGS AND SALES… WHERE ARE WE TODAY?

February 8, 2011 By 1 Comment

TAMPA LISTINGS AND SALES… WHERE ARE WE TODAY?

Tampa Skyline. City-Data.com

LISTED HOMES STATS

According to local MLS there are currently 4,899 homes listed for sale in Tampa.  2301 (47 %!!) of these home are listed under distressed circumstances (short sale, pre-foreclosure or bank owned).  This makes Tampa area a bit more “toxic” than St Petersburg and Pinellas county, where the ratio of the distressed vs. traditional listings is typically around 10% lower.

3,364 (68.7 %) of all listed properties in Tampa are single family homes.  The rest are condos, villas and townhouses (64.2 % in St Petersburg for single family houses).

Zillow Hilsborough Home Sales Stats

PENDING

2,510 properties are currently under contract and pending to close.  2,043 (staggering 81 %!) of them were listed as in distressed conditions. 

8,048 homes were sold in Tampa in 2010.  4,144 (51.5 %) of them were sold as short sales, pre-foreclosures or bank-owned (REOs).

Why are there more pending distressed properties than actually closed distressed deals? 

Well, simply because short sales take a lot longer to close than traditional sales.  Some short sale deals fall through and become active listings again.

Overall prices in Hillsborough County dropped 10 % year-over-year.  Current average price of a home is at $117,500.  

Zillow Hilsborough Stats

LUCKY NEIGHBORHOODS

Greater Northdale went up 1.4 % is average price year-over-year to date

Sun City Center went up 1.7 %

West Chase went up 2.6 %

However, the decline in prices in 2010 for most areas in Tampa stayed in single digits.  Number of sales increased comparing to 2009 and 2008, so hopefully this means that we’re coming into a flat plateau.  Meaning the sales prices this year will stay somewhat the same because there are still lots of homes on the market and more coming.  However, demand is increasing and buyers are starting to feel a bit more confident about buying at current reduced prices.

If you need to find the value of your home, you can always look it up in our Market Snapshot.  It’s a great resource both for buyers and sellers.  Click here to check your home value in Tampa Bay.

Tampa Bay Real Estate Blog by The HOME Team of Charles Rutenberg Realty, Inc.

Filed Under: Events in St Pete and Tampa Bay, Living in St Pete and Tampa Bay, St Petersburg Neighborhood Reviews, Tampa Bay Real Estate Statistics, Uncategorized Tagged With: , , , , , , , ,

Quick Facts About Florida. How Will They Affect You?

January 28, 2011 By 1 Comment

Quick Facts About Florida.  How Will They Affect You?

Florida Realtor Magazine

Just read some interesting facts about Florida in Florida Realtor® magazine.  As Realtors® we are continually studying local and state real estate market and statistics.  So, we thought you may be interested to know that in Florida there are:

-          1,000 people move to Florida each day

-          19 major commercials airports

-          1,800 miles of coastline

-          14 deepwater ports

-          12 international airports

-          More than 1,250 golf courses.  Florida has more golf courses than any other state.  Palm Beach County has more golf courses than any other county in the USA.

-          1,200 miles of sand beaches

-          More than 370,000 hotel rooms in Florida

SALES NUMBERS

Assessed Value Map

Florida is just a great place all around.  Many of these facts influence our Real Estate market one way or another.  These very positive facts will also help our market get back out of recession.  While we don’t expect miracles this year, 2011 is still expected to be a growth year for Florida’s economy.  Unemployment is predicted to stay in double digits, yet Moody’s Economy.com, a national consulting firm, projects that Florida will achieve 3% job growth in 2011 – more than any other state.  Tampa and Orlando are expected to grow the most at 3.4%.

If you saw our Clearwater and Pinellas County sales statistics post not long ago, you already know that numbers of sales are growing are already higher than 2009 and 2008. Of course, a good portion of sales was boosted by the first-time home buyer program that spurred buyers into action by offering tax credits.  Yet, I believe our slowly recovery economy is the main reason of the rise in the number of sales.  But sales prices most likely will not go up for a while.  The reason behind it is the amount of short sales and foreclosures pending for this year.  Buyer’s demand has to equal and then surpass the supply for prices to start going back up.  And when they do, we really want just a steady 3-4%/year growth in prices to avoid another bubble.

LUXURY REAL ESTATE GOING UP

Florida luxury home sales are on the rise

Luxury home sales are on the rise.  In Palm Beach wealthy buyers are snapping up mansions at prices $10 million and up.  There could be several reasons for this.  First, sellers are realizing what the true market value of their home is and settle for 50 cents on a dollar.  While savvy investors see an opportunity and starting to feel secure owning Florida real estate at a hedge against future inflation.  For example, in Jacksonville sales of homes priced over $2 million were up 78% compared with 2009.  This is good news for everyone, as it creates a positive climate for homes listed at more modest prices.

Florida Realtor® magazine, Jan/Feb 2011 stats used.

Tampa Bay Real Estate Blog by The HOME Team of Charles Rutenberg Realty, Inc. Downtown St Petersburg, FL

Filed Under: Celebrity Homes, Events in St Pete and Tampa Bay, Living in St Pete and Tampa Bay, St Pete Tampa Bay History blog, St Petersburg Foreclosures, St Petersburg Neighborhood Reviews, St Petersburg Short Sales, Tampa Bay Foreclosures, Tampa Bay neighborhood reviews, Tampa Bay Real Estate Professional Information, Tampa Bay Real Estate Statistics, Tampa Bay short sales, Uncategorized, Weekly Real Estate deals in Tampa Bay Tagged With: , , , , , , , , ,

What’s Up With St Petersburg And Russians?

January 26, 2011 By Leave a Comment

In short about Peter Demens

Peter Demens, St Petersburg FL

Many of us know that St Petersburg, FL was named by a Russian immigrant Mr. Peter Demens.  He named it after St Petersburg, Russia where he spent many years in service.  As a successful Russian entrepreneur he made good money in selling off lumber coming from trees that grew in his estate and then converting the land to agriculture.

Demens Landing St Pete

He decided to move to USA after Czar Alexander II was assassinated.  In 1881 he came to New York and then moved immediately to Florida where he had a cousin.  He wanted to buy some land and go into lumber business, but Jacksonville where his cousin lived was already established and land was not cheap so he took a steamer down to the back country.  He invested in a saw mill and a construction company in Longwood, FL and eventually became the owner of the Orange Belt Railroad. Demens took over the railroad company because they couldn’t pay him for some supplies.  Long story short, in 1888 he extended the tracks to the south end of Pinellas County and called the area St Petersburg.

Demens Train St Petersburg FL

You may be familiar with the Detroit hotel downtown St Petersburg.  Demens built it as well as the first railroad depot in the city.  If you ever ride Pinellas Trail, take it all the way downtown St Pete and you’ll end up at the Demens Landing Park.  This is the site of the first railroad pier in St Petersburg, which is now a city park.

St Petersburg and Tampa Bay in general are popular destinations among Russians and eastern Europeans.  You will often hear Russian speach on the beach, especially St Pete Beach.  Europeans are usually easy to spot there, since speedos are still a man’s favourite swimming attire.  If you are ever in that area, go check out St Petersburg Nights restaurant for some entertainments and traditional Russian food.  You’ll love it!

Tampa Bay Real Estate Blog by The HOME Team of Charles Rutenberg Realty, Inc.

Filed Under: Events in St Pete and Tampa Bay, Living in St Pete and Tampa Bay, St Pete Tampa Bay History blog, Uncategorized Tagged With: , , , ,

Deals Of The Week In Tampa Bay

January 6, 2011 By Leave a Comment

Tampa Bay’s Deals Of The Week

The HOME Team of Charles Rutenberg is starting a weekly update on the best Real Estate deals.  We will limit these 3 listings to Tampa Bay / St Petersburg area and will try to show you homes that, in our opinion, are best buys.  What are the criteria?  Well, we will look at a combination of price per sq. ft., location and home condition and show you homes in various price categories to meet the needs of all buyers.

7671 N Dover Ct, St Petersburg, FL 33709

Solid Block Ranch home in classic Florida neighborhood built by Kay Homes. New High Efficiency Air/Heating, New Water Heater, Newer Roof. Large kitchen with 2 bars to Greatroom and out to screened patio. Big sliding doors are ceiling to floor. Custom fenced yard with back entrance to private channel to creek. Walk up attic with over 600 ft. of storage space. UNDERGROUND UTILITIES! No powerlines! Huge mango tree and other mature landscaping make this an amazing, solid Florida home. Home abuts Joe’s Creek and the nature preserve.

 2409 Stroud Ave, Tampa, FL 33629

3 Bedroom 2 Bath beautiful home in South Howard / Hyde Park area. It is a Short Sale. 9×11 office, 14×31 deck for outdoor entertainment, hardwood and tile floors. Huge outdoor living space, remodeled kitchen. Inside laundry and storage. Lots of tree shade will give you time to enjoy your yard on a hot summer day.  Located close to Bayshore for athletic joggers! SoHo district. Wells Fargo financing available.

6801 N 10th St, St Petersburg, FL 33702 

Gem in the Rough. Lots of potential here. 3 Bedroom 2.5 Baths, 1 car Garage and Inground Pool. Family neighborhood close to everything. Check out Virtual Tour Link for Video.

Of course, if you can’t find what you want here, you can always browse through homes on our MLS.  And don’t forget to order your free Market Snapshot that will tell you what’s listed and sold in your neighborhood.  It’s a great visual tool that will help you price your home right, like your own personal CMA, or, if you are a buyer, will give you an idea if the home you are looking to buy is priced well.

Filed Under: Events in St Pete and Tampa Bay, Living in St Pete and Tampa Bay, Uncategorized, Weekly Real Estate deals in Tampa Bay Tagged With: , , , ,

Tampa Bay’s Featured Listings. Find Them Here!

January 5, 2011 By Leave a Comment

Tampa Bay’s Featured Listings

Often the most valuable information we can provide to our buyers who search for homes in Tampa Bay and St Petersburg is a list of featured homes.  After all serious buyers are looking to buy a home and just a pretty website that tells you how good we are and what we do is not enough.  Of course, there are great home search sites out there like Trulia, Zillow and Realtor.com, but sometimes it’s good to see a narrowed down list of local homes that are arranged for you in a comprehensive manner. 

So to make your search easier we’re created a Featured Listings page where you can find some great deals.  We’re arranged them in several price categories so you can easily find a home in the range that suites your budget.  Under our Featured Listings tab you can see anything from affordable homes under $100k, to fascinating luxury Tampa Bay real estate listed for over $10 million.

So, come visit The HOME Team’s Featured Listings page and if you can’t find a home that you’d like to own, we have many more we’d like to show you.  You can also search homes in our MLS or get your free Market Snapshot.  We’re always easy to reach, just contact us here, we’re just a call away.  Of course you can send us a message or friend us on Facebook, Twitter, LinkedIn or YouTube.

Filed Under: Living in St Pete and Tampa Bay, St Petersburg Foreclosures, St Petersburg Short Sales, Tampa Bay Foreclosures, Tampa Bay short sales, Uncategorized, Weekly Real Estate deals in Tampa Bay Tagged With: , , , ,

18 days from listing to contract…

December 10, 2010 By Leave a Comment

…Is it possible?

So how do you go from listing to offer in just 18 days? Well, it’s not always easy but it’s simple.  It all boils down to doing a job and doing it right.  Just like an assembly line worker has a check list of things he must do in order to build a product, Realtors have guidelines in every sales process.  And if I learn to follow a system, I know I will be successful.

Pricing the property right and the seller’s motivation play a major part in a sale.  But what about the actual sales and marketing process?  Ask your listing agent these questions:

“Mr. or Mrs. Realtor, what will YOU DO after you list my home?”

“Are you ONLY placing it on MLS?” “Do you use PROFESSIONAL photo and video services?”

“How often will you update me on the process?”

And here’s my favorite one: “How do you use social media networks to market my home online?”

The bottom line is you NEED to have your home sold, and you WANT to know what is going to be done to have it sold fast for the highest dollar possible.

I continue to meet agents who don’t pay much attention to major social media networks, who don’t embrace new technologies and their website looks like it was done in 1998.  For that matter, if you happen to be a real estate agent reading this and your site was created more than 4 years ago, chances are it is outdated and let’s face it, you are not offering your clients great online services.

Again, today the question is not whether an agent is using social media, but HOW it’s being used.

It’s not whether an agent HAS a blog, but WHAT is he/she is blogging about.

It’s not whether an agent is reaching out for high-tech tools, but HOW these tools are being used in the process.

We only use enhanced listing format on Realtor.com.  It allows the buyers to view up to 25 pictures of your listed property with detailed descriptions and full brokerage information.  Enhanced listings will not show any random adds when buyers look at your property.  Make sure your listing agent has this feature on Realtor.com.

Realtor.com now also offers a video tour feature.  It’s huge when buyers can actually see a 3 minute video instead of a slideshow of pictures they’ve already looked at.  Several months ago we decided to produce video tours for ALL our new listings, no matter what the listing price is.  Does it cost extra?  It does, but in today’s market we absolutely have to provide the best possible service to our clients.

Here’s a sample of several video tours we recently did.  They go directly onto MLS, Realtor.com and other major listing websites.  Just in a  few short months we’ve seen great results from these and yes, there were only 18 days from listing to contract on the most recent one!


Filed Under: Events in St Pete and Tampa Bay, Living in St Pete and Tampa Bay, St Petersburg Real Estate Video Blog, Tampa Bay Real Estate Professional Information, Tampa Bay Real Estate Video, Tampa St Pete Real Estate Technology, Uncategorized Tagged With: , , , , ,
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Last updated 5/24/13 9:22 AM PDT.

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