CONDITIONS REPORT



Market Conditions for Apollo Beach, Florida

Reported by Bonnie Fagoh, REALTOR

As of August 9, 2009.


WELCOME TO APOLLO BEACH!

According to the National Association of Realtors, its Pending Home Sales Index rose 6.7% to 90.7 for May 2009 over the 85.0 for May 2008. This is the FOURTH STRAIGHT MONTHLY GAIN; the last time there were 4 consecutive monthly gains was in October 2004. Despite new appraisal rules for many transactions causing some contracts to be delayed or falling through, the pronounced increase in April and the fact that May sustained this rise indicates that actual existing home sales are poised to rise in the coming month or two.

We are seeing this on a local level at BellaSol Luxury Waterfront Villas in Apollo Beach as we put four units under contract in the month of June with 3 closed in July and 1 in August (so far) and another offer being considered. These are fantastic bargains with special financing that will not last forever! The developers are taking bids on finishing out 2 more buildings soon. (Those will be priced HIGHER). In nearby Mirabay, another waterfront community, 2 builders have started selling pre-construction again.

Many bank owned and short sale properties in the Tampa Bay area end up with multiple offers. Just recently I was working with a buyer who was one of 13 offers on a short sale pool home. We were selected as the "highest and best" so we were fortunate on that one, but that was the third property the buyer tried to get under contract. Of course with a short sale there are no guarantees you will close. After at least a typically three month or more wait, the bank could ask the seller to sign a promissory note for part of the deficiency. If the seller refuses, no closing!
On the bank owned it seems the banks are making some strange decisions....another one of my buyers did NOT get the property she made an offer on because she did NOT ask for closing costs! Her offer netted the bank more than another offer, but the bank said they were afraid we would ask for closing costs later! Go figure. Just telling you this to prepare you for what may be a somewhat complicated process. You definitely need a professional helping you through.

If you are thinking of buying, stop just thinking about it! The best properties are being scooped up first, so what do you think will be left? Which BellaSol units do you think went under contract first? RIGHT, the ones with the best views! We just closed 4 more in the last 3 weeks! So, before all the best are gone and before interest rates go up anymore, call me so I can help you find the BEST DEAL!

Search all Tampa Bay properties at www.TampaCoastalHomes.com or better yet,
call me for a FREE boat tour!

Bonnie (813) 390-7606



ZIP Code: 33572

Location Characteristics: Apollo Beach is a growing community centrally located between Tampa (20 min), Sarasota (30 min) and St Petersburg (20 min). There are 55 MILES of canals leading to Tampa Bay for those of you who enjoy water sports. Southshore Commons, a major "open air" mall is planned for 2009 with shopping, restaurants, movie theatre and office buildings. The area is excited about our Tampa Bay Rays playing in the World Series this year. AND the Super Bowl Committee is impressed enough with Tampa Bay to have us host the Super Bowl for the third time!! Come see for yourself why people love it here!
A new feature to my Market Update are short video previews. Watch these short informative videos at http://tampacoastalrealestate.blogspot.com
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