Monday, August 24, 2009

Tampa Florida's Gulf Coast

Florida's Gulf Coast metropolis has less glamour - and lower prices.

It's not the Atlantic coast of Florida, with symbols of opulence like lavish Palm Beach estates or multimillion-dollar spec homes. But Tampa, with its more blue-collar feel, offers the same brand of South Florida living at a far more affordable price. How much more affordable? Prices are consistently lower by 50%, estimates Deborah Farmer, president of the Greater Tampa Association of Realtors.

To be sure, Tampa lived large during the boom years; prices rose 100% from 2001 to 2006. That was fueled in large part by speculators just looking to flip, and when they started vanishing in 2006, thanks to the slowing market and a tightening of credit, so did those massive annual increases. Real estate values have fallen 17.5% in a year, according to the Case-Shiller index.

But more than other markets, Tampa could be nicely positioned for a rebound. Its relatively strong local economy, coupled with the fact that the bust hit here earlier than in some other markets, means that the downside may have largely played itself out. The median price is now $222,000, down from $275,000 last year, and top NAR economist Lawrence Yun has singled Tampa out as well prepped for price recovery, estimating 20% or more appreciation in the next five years.

A prime spot for high-end bargain hunters: Gulf-front luxury condos in nearby Clearwater or St. Petersburg, which might have gone for a minimum of $1 million a few years ago, can now be snapped up in the $600,000 range.

Friday, August 21, 2009

"Tampa Florida Luxury Home Bargains, Tampa Home Deals" - kewego
http://www.tampacoastalhomes.com , Tampa Florida Luxury Bargain deals here. (4) Four closed in the last 30 days** going fast only 1 penthouse left..call Bonnie 813 390-7606 to ask about a Boat Tour

Thursday, August 20, 2009

“Come Vacation where you Live.” Let Tampa Coastal Homes help you
find your dream home minutes from our White Sandy beaches
on Tampa's Gulf coast. Bella Sol Luxury Villas on
Tampa Bay is 30 minutes by boat or car to St. Petersburg
and only 20 minutes to downtown Tampa. Watch dolphins frolic or
take a cruise up one of the 4 rivers that feed this natural estuary that is
Tampa Bay, teaming with wild life like tarpon or snook. If sports is your
idea of fun, try one of our championship golf courses or take in a
Buccaneer football game at Raymond James Stadium in Tampa or a Rays baseballgame in St. Pete All this is available to you from Bella Sol ...the Boutique Waterfront Community of luxury villas with incredible views of beautiful Bal Harbour on Tampa Bay. Great for year round living or a seasonal retreat.
A full service marina is located right next door as well as one of the areas best restaurants ..

Take a 3 minute boat ride to the open waters of Tampa Bay where you can picnic at a nearby island. In 20 minutes you can be in Tampa having lunch in a waterside restaurant. Enjoy the tourqouise waters around Egmont Key where the Kids can search for
seashells. After a day on the water, or a workout in the onsite gym, refresh in your resort style pool, relax in the spa
or just sit and enjoy the sunset from your balcony.
Your Villa is filled with luxury like granite, maple cabinets, stainless appliances, tray ceilings as well as tiled balconies and entry courtyard. Welcome friends at your Solid mahogany door... live in the Dream!! Call Bonnie now to reserve a spot on one of our complementary boat tours..you can reach Bonnie Fagoh at 813 390-7606 or visit www.TampaCoastalHomes.com

Sunday, August 16, 2009

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
Leave a comment and you will automatically be registered for a chance to win a 2 Night Beach Getaway!

Monday, August 10, 2009

Market Conditions for Tampa , Florida

Reported by Bonnie Fagoh, REALTOR

As of August 9, 2009.


WELCOME TO SOUTH TAMPA!

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! 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!

South Tampa currently has 879 active listings with 380 sold from Feb-July. At this rate there is 14 months of inventory.

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

Call Bonnie at (813) 390-7606


ZIP Codes: 33606, 33609, 33629

Location Characteristics: South Tampa with Davis Islands and Hyde Park is probably the most desirable area of Tampa in which to live.
Its close proximity to downtown allows you to enjoy an easy commute to work, as well as the night life, the arts, clubs, shopping and restaurants. Bay Area bands crank out reggae, rock, blues, country, punk, salsa and jazz at clubs and bars all over town. New on the party scene as trendy spots for a sophisticated crowd are Channelside Bay Plaza and International Plaza's Bay Street. If you enjoy the waterfront there is plenty of that as well.
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 fourth 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
Leave a comment and you will automatically be registered for a chance to win a 2 Night Beach Getaway

For More Information:

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Ask Me A Question

About Bonnie Fagoh:
I am a 40 year Florida resident of the Tampa Bay Area!
Meet Bonnie FagohTuesday, February 3, 2009
For Immediate Release: Bonnie Fagoh again Awarded Masters**
Bonnie Fagoh of Tampa Coastal Homes at Century 21 Beggins in Apollo Beach Florida has again been awarded Masters level recognition for 2008***

In a year that experts have noted as the most difficult on record, Bonnie has quietly gone on with what she loves, and that is helping families find fantastic opportunities in this coastal community... and it shows! "What I have found in 2008 and 2009 is that many buyers are very frustrated with the "pre-foreclosure bargains" that they have tried to acquire. Some have wasted many aggravating months waiting to find out if their offer will even be accepted by the lender on a distressed property that is in need of repair. I have helped families buy brand new homes from builders with full warranties and even close in 2 weeks! That's 2 weeks vs the national average of a minimum 2 to 3 months with distressed property. AND their payments were even less than if they had bought that "short sale deal". Some big national builders need to keep the scaled down workforce busy even if that means selling at a loss (under replacement cost). The hassle of liens and second mortgages etc... does not exist with these brand new bargains." Of course, all the normal due diligence has to be performed. For example, what is the history of the neighborhood? How are the schools? Many of these factors cannot be determined from photos or a written description... No, in today's market it pays to go with a pro who is very knowledgeable about the local area. You need to know that a realtor is serious about the profession. I have lived in my area over 18 years and in Tampa Bay for over 40 years. 2009 will be another year of helping others live the dream!"

Let me put my expertise to work for YOU.
I currently live on the water in Ruskin with my husband and 3 children. I understand the importance of community and good schools to those raising a family.
Please do not hesitate to call on me if I can be of assistance in helping you find a new home. If you need to sell, I can help you get the HIGHEST price, in the shortest time, with the least amount of incovenience to you. I work at an office with a Sales FORCE of over 80 agents. There are well over 200 agents in our 5 offices that surround the Tampa bay area.
Please call me at (813) 390-7606 so that I can assist you with all your Real Estate needs.

Feb 09 UPDATE!!** Thanks again to everyone as I was again awarded at the TOP AGENTS retreat for 2008!! This is a measure of how dedicated to the real estate industry an agent is.... ask how was your production for 2008?
--------------------------------------------------------------------------------

Bonnie Fagoh
E-mail: bonniefagoh@century21beggins.com
Web: http://www.TampaCoastalHomes.com
813-390-7606
Century 21 Beggins Enterprises
813-658-1344
6542 U. S. Hwy. 41 N.
Apollo Beach, FL 33572




Thursday, August 6, 2009

An Important forward from my Broker

August 2009 dog days of summer
An Important forward from Bonnie Fagoh

Message from the Broker: Craig Beggins, President, CENTURY 21 Beggins Enterprises
August 2009


Where’s the Market Heading?

Nearly every day I’m approached by consumers and by far the most frequent question I’m asked: Is the market getting any better? Here’s my reply: No, the market is not getting any better, but sales are way up! This puzzles most people. If the market is not getting better, how can sales be up?

The ironic fact is that sales are up because the market is not getting better. Properties are selling cheap which is
creating more sales. As inventory declines, prices will creep up, and more buyers will be forced out of the market which will slow down sales. This is starting to happen. Our agents frequently comment that the best deals are gone.

Please allow me to elaborate. What is the best deal? It depends. A lower price is not often a better deal. Our 6 Tampa Bay area markets are experiencing relatively high sales volume (174 in June and 127 in July). With hundreds of properties going under contract each month, it stands to reason that the better ones are going first. With regards to real estate, better includes: location, condition, amenities and lastly price. Quite often, the lower priced properties are priced lower for a reason. They have inferior locations, they’re in poor condition, and/or they lack amenities. They should be priced less. So, what does the future hold? Who knows, but here are a few thoughts for you to consider:

We’re experiencing a lower ratio of short sale listings as compared to “normal” listings, and similarly we’re experiencing a higher ratio of “normal” contracts as compared to Short Sale Contracts. This tells me that “normal” sellers are pricing appropriately and attracting buyers and short sales with their associated delays are becoming less attractive to buyers. Banks seem to be foreclosing more and bank owned properties are slowly becoming more prevalent in our markets. This trend is bad for our markets. The problem is, that as lower priced properties sell and close, comparable sales are recorded on the public records. Appraisers use public records to determine value for homes that we sell. As more inexpensive homes sell, lower comparable sales are recorded which makes it more difficult for appraisers to justify higher values of homes that are in better locations, in better condition and with more amenities.


In closing, if you’re in the market for real estate, I’d encourage you to get with the agent who sent you this article and start learning the market with them now, and don’t be surprised if the one you liked last week is gone next week. If you’re thinking about Selling, contact your agent and take their pricing advice so we can get your property sold and closed while we still have good comparable sales to justify your value.


So, yes there are a lot of changes in this Real Estate Market. At the same time, there are incredible deals for those who are willing to invest the time to figure it out. We’re here to help.

Craig J. Beggins

Tuesday, August 4, 2009

Tampa Bay Waterfront Real Estate Update

Early, Early August 2009 Follow Up!!

You heard it hear on June 6 roughly 2 months ago about the housing market now here is more of the proof and actual physical results:



As you can see from these late July results some markets are actually experiencing price increases.
At Bella Sol Luxury Villas on Tampa Bay we have gone to contract on 4 units in the last 60 days. Upscale savvy buyers are scooping up the most choice villas in fact I only have one Penthouse left!!

Call me Bonnie Fagoh now to lock in these Luxury Villas on Tampa Bay while they are still a Great Bargain!!** 813 390-7606

Just Out: Washington D.C. “Home sales up 6.7% for 3 months, month to month”
June 8th, 2009
Saturday, June 6, 2009
Washington and Bloomberg Report Home Sales Up 6.7%
JUST OUT – Tuesday June 3 on fast Money CNBC from Washington….pending home sales increase 6.7% in April month-to-month. That is the 3rd straight month of rises in the pending homes sales index. Buyers are responding to favorable market conditions such as: 1) Increased affordability, 2) The first time home buyer tax credit and 3) Low, low mortgage rates.
This is backed up by Bloomberg’s News Article dated May 27 which stated the following:
Home resales in the US rose for the second time in 3 months in April as foreclosure auctions and cheaper prices spurred bargain hunters, supporting the case for an end to the industry’s slump this year. “The housing market is beginning to stabilize,” Fed Chairman Ben S Bernanke said in congressional testimony on May 5. “We continue to expect economic activity to bottom out, then turn up later this year.”
Locally, a pick up in sales has helped trim the glut of unsold homes, with the most desirable homes being the first to sell. This decrease in inventory leaves the buyers who are waiting for “the bottom” (who knows when that will be, but it’s close) finding that the less-than-desirable properties remain. Compound that with the risk of mortgage rates increasing and you have even more reason to BUY NOW. For first time home-buyers, the $8,000 tax credit applies to purchases completed before Dec 1, 2009. Short sales (a large part of our current market) can take 90 to 120 days or more to close, so first time home-buyers need to BUY NOW. Multiple bids are now common on foreclosure sales and even short sales, so you may have to make several offers before getting a contract, so BUY NOW to get the best deal on a great home!
Apollo Beach has 335 active listings, and 140 sold from Jan – May. At this rate we have less than 12 months inventory.
Search all Tampa Bay properties at http://www.tampacoastalhomes.com/or better yet, call me for a FREE boat tour!
Bonnie 813 390-7606


Saturday, August 1, 2009

August Real Estate Update

Rates Rise Slightly

In Freddie Mac's results of its Primary Mortgage Market Survey the 30-year fixed-rate mortgage averaged 5.25 percent for the week ending July 30, 2009, up from the previous week when it averaged 5.20 percent.
Last year at this time, the 30-year fixed-rate mortgage averaged 6.52 percent.
"Bond yields rose slightly higher this past week on market optimism that the economy may be stabilizing

Mortgage Rates
Source: Realty Times

U.S. averages as of July 30, 2009:

30 yr. fixed: 5.25%
15 yr. fixed: 4.69%
1 yr. adj: 4.80%

somewhat, and mortgage rates followed those yields," said Frank Nothaft, Freddie Mac vice president and chief economist.

First-Time Buyers: Hurry
For $8,000 Tax Credit

It’s time to remind first-time home buyers that in order to qualify for the government’s $8,000 gift in the form of a tax credit, the deal must close by Dec. 1, 2009.
Buyers should have a purchase contract signed by early October, so they have 45 to 60 days to arrange financing and safely close the deal.
Even if you are not a recent first-time home buyer, it is important that you know about the tax credit avail- ability. It may be the key factor to facilitate the sale of your home, or that of other homes in your community. It is an excellent time for a first-time home buyer to buy, with historic low rates, a plentiful supply of homes, lower prices in some markets, and the federal tax credit. Communities benefit from strong levels of home ownership.


Good Landscaping
Draws in Buyers
In this challenging real estate market, curb appeal is particularly important for a home seller. Here are some tips for hiring a landscaper who will do a good job at a reasonable price.
Review a portfolio. A neighbor's recommendation is a good starting point, but it is also worthwhile to examine other jobs the landscaper has done and ask for references. Hiring someone who isn't reliable, doesn't finish the job or who uses unhealthy plants is a costly mistake.
Consider maintenance. Asking for a low-maintenance design will ensure that even if the home owner isn't able to spend hours on the task, the lawn will continue to look good.
Know what good landscaping is worth. It can't hurt to let a potential buyer know what the value of the trees and shrubs are.

Real Estate Outlook:
Positive Growth

There was an important piece of economic news last month that has a huge significance for real estate, housing, and the economy, but got very minimal coverage on TV and in print.
The Conference Board's Index of Leading Economic Indicators, widely acknowledged as the most accurate predictor of future activity and output in the United States economy, rose by almost a point in June.
That was the third straight month of positive growth.
But more importantly, it was the first time since 2004 that the index has increased for three consecutive months.
That's crucial for real estate because housing sales, production and prices are closely tied to movements in the overall economy: jobs, manufacturing, exports, household incomes and the like.
There's no way we're going to see a sizable housing recovery until the economy pulls itself out of recession and starts to grow again.
The index of leading indicators is clearly telling us that that process is well underway -- and that's a very encouraging message.
Federal Reserve Chairman Ben Bernanke, in testimony before Congress last month, pretty much said the same: "A modest recovery is not far off, he said, though it will take a long time to get unemployment levels back down to pre-recession levels."