Saturday, May 14, 2011

It's Time to Buy Real Estate Again

Pt.1 It's time to buy Real Estate again, the most attractive asset class in America.
Mike Castleman, who calls himself a "dirt road economist" has not seen a shortage of new construction in the last 35 years like what he is seeing today. He believes in most markets the price of new homes will begin to rise this year, not fall. And as founder and CEO of Metrostudy, he is in a unique position to know. His company tracks data on the country's inventory of new homes. They cover around 65% of the US housing market, and the key figures they collect are the number of vacant and "For Sale" homes and how many months it would take to sell all of them. This measures inventory and determines if a market has a surplus or shortage of new housing. The numbers are 1/4 of what they were just a few years ago.

So we have a historic drop in new construction and prices that have declined 30 to 55% across the country. The affordability will lure Americans back to buying homes and the shortage will start raising prices in many markets this year. To take advantage before the prices and/or interest rates start up, call Bonnie Fagoh at 813-390-7606. Or click here to search the best Tampa Bay properties as they hit the market.

In Pt.2 I will address today's tight credit standards and the effect on the market, as well as the cost of owning vs renting.

Steal this Apollo Beach Fl Pool Home on Tampa Bay

Fabulous Apollo Beach pool home in Tampa Bay Fl

Monday, May 2, 2011

Real Estate update

May Real Estate Update

Mortgage Rates Fall
      In Freddie Mac's results of its Primary Mortgage Market Survey the 30-year fixed-rate mortgage averaged 4.78 percent for the week ending April 28, 2011.
    That is down from the previous week when it averaged 4.80 percent. Last year at this time, the 30-year fixed-rate mortgage averaged 5.06 percent.
    Mortgage rates followed Treasury bond yields lower amid weak local economic data reports on business

Mortgage Rates

Source: Realty Times

U.S. averages as of April 28, 2011:

30 yr. fixed:   4.78%
15 yr. fixed:   3.97%
1 yr. adj:        3.15%

conditions and house prices. Declining home prices and a high level of foreclosures continue to affect housing tenure decisions.

Smart Growth Communities

    Americans favor walkable, mixed-use neighborhoods, with 56 percent of respondents preferring smart growth neighborhoods over neighborhoods that require more driving between home, work and recreation. That’s according to a recent NAR study, called the Community Preference Survey.
     Walkable communities are defined as those where shops, restaurants, and local businesses are within walking distance from homes. According to the survey, when considering a home purchase, 77% of respondents said they would look for neighborhoods with abundant sidewalks and other pedestrian-friendly features, and 50% would like to see improvements to existing public transportation rather than initiatives to build new roads and developments.

Home Building On the Rise
   New home construction is picking up just in time for the spring buying season, according to the latest new-home report rfrom the Commerce Department. Builders broke ground on more new homes in March than in the last six months.
     Another bright spot: Building permits, an indicator of future construction, increased 11.2% for the month. After a dismal winter performance, new-home building bounced back 7.2% in March from February to a seasonally adjusted 549,000 units.
     The new-home sector has faced hard times in recent years, competing against a flood of foreclosures and short sales on the market that have pushed housing prices down. In February, construction fell to its lowest level in nearly two years.
6 Ways to Save Money in Your Home, Car
    You can help save the planet while also saving cash, according to the Alliance to Save Energy. Below some pointers on how to trim yearly expenses with some easy ways to go "green."
     In your car:
Use cruise control. Cruise control on the highway can help you maintain a constant speed, which can help save gas.
Use the overdrive gear. By using the overdrive gear, your car’s engine speed goes down, which not only saves gas but also reduces engine wear and tear.
Slow down. Driving anything above 60 miles per hour decreases your gas mileage rapidly.
     In your home:
Swap out the light bulbs. Replace old incandescent bulbs with energy efficient options such as compact fluorescent lights, which can shave up to $50 off your electricity costs over the lifetime of each bulb.
Plant a tree. Properly positioned trees outside your home actually have been found to reduce a home’s energy use, even up to 50 percent during the summer months and 15 percent in the winter.
Get a tax break. Uncle Sam is offering 2011 tax breaks of up to $500 for energy efficiency home improvements, such as with Energy Star windows, insulation, or energy efficient heating and cooling equipment.

Equal Housing
Bonnie Fagoh

Century 21 Beggins Enterprises
6542 U. S. Hwy. 41 N.
Apollo Beach, FL 33572

Sunday, May 1, 2011

Tampa Bay Fishing Report

Hello anglers,

        They say Islamorada is the fishing capitol of the world but I think it should be Tampa Bay. April was a great month and I would have to say my best April ever. That says a lot when you consider the state of our Snook fishery. There were a few slow days and one of those came with kids on the boat and that kept me awake a little that night. If you really know me then you know how much I like seeing kids catch fish. There were a few other minor bumps in the road but for the most part April was a big success as I was on the water 26 days. I look for May to be just as good maybe even better. The weather is getting to the point already that the shallow water fish are slowing down a little mid day but that has just pushed me to deeper water where it will not make as much of a difference. May should be good across the board with everything chewing. The Redfish and Tarpon are the species that I expect to get even better. With the crab flush starting on the full moon, the poons should take center stage. I hope to top last years 2 biggest Tarpon at about 175 lbs. The Kingfish are the specie that I expect the bite to get weaker as the smokers continue their migration north. It does not matter what you pleasure I think May has something for you. Not trying to pressure anyone but if you are considering a trip with me for May I am booking fast. Until next time, good luck and be safe on the water. Remember: don't let your kid be the one that got away, take them fishing.


If anyone is interested I have a couple of singles that are looking to share a trip with another angler.

   Bob Strozinski - Tarpon trip

   Ray Kress - Grouper trip

Let me know and I'll put it together.

Capt. Ric Liles
K9 FISHING RODS ~ feel the bite! 
Host - Tampa Fishing Outfitters Radio Show, CBS

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