Thursday, December 29, 2011

Apollo Beach Market Conditions as of 30 December 2011

Market Conditions for Apollo Beach, Florida

Reported by Bonnie Fagoh, REALTOR

Updated December 29, 2011.

Welcome to Apollo Beach!

Current inventory 234 active listings from $36,000 to $4.1 million. With 201 closings in the last 6 months, we have just under months of inventory.
If you look at Covington Park alone, there are only 13 active listings and less than 3 months of inventory!
Obviously, the expensive waterfront takes longer to sell.

If You Must Sell Your Home in This Market

Most will agree this is NOT the time to sell your home. But I am starting to see a change with our drastically reduced inventory! I just tested the market a bit on a beautiful pool home in Covington Park. If you looked at recent closings, you may have thought my new listing was a bit overpriced, but it was a NOT a short sale and inventory is quite low in the community. Well, I was right to price it where I did as it went UNDER CONTRACT IN 4 DAYS! It is my job to get the most for my sellers.
You may think, was it still too low since it sold so quickly? Well, it still has to appraise so we can't push it too much. This one closed at $193k, just $7k under list!
What if you just got a job transfer? What if your family is growing and you need a bigger home? What should you do to get the most For your property?
First, make sure you choose a Realtor who knows the market in your area, someone from a large office That has market share in your community. You are not only hiring that agent, but the office, and it can make a big difference if they have a team they can share the listing with since each of those agents has active buyers. The agent should show you comparables that back up the price they suggest for your home.
Choose an agent who knows how to capitalize on internet marketing and knows how to get your property noticed by the masses. Of course, you will want professional photos and slide shows or virtual tours but don't forget the strength of video when it comes to search engine optimization.
You will also want to have your home put its "best face forward"…..spruce up the landscaping for curb appeal (you can't sell it if no one will even go through your door). And speaking of that front door, how about a fresh coat of paint? You may never use that door since you come in through the garage, so go out front and take a good look. Imagine you are that buyer seeing your home for the first time. Some bright flowers will go a long way. Declutter so they will see the house and not your "stuff", wash windows to let that sun shine in! No one likes a dark home….pull those drapes back. And I have been known to say "if you can smell it, you can't sell it". Have a friend come by and be brutally honest and let you know if they notice any odors (pets?). You may not notice it because your nose has become accustomed to it!
The real winners in the market are those who can take advantage of the tremendous deals that are available. If you are upsizing, you come out way ahead. You may get 20% less on your current home (for example $40k less on a home that was previously $200k), but if you save 20% on the bigger one ($60k on a $300k home!) you come out on the plus side. Many of my clients have been amazed at what they could buy today. They are living in homes nicer than they ever imagined they could own. Let me help YOU too….call Bonnie today (813) 390-7606.

Search all Tampa Bay properties at 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 2011 with shopping, restaurants, movie theatre and office buildings. The area is excited about our Tampa Bay Rays. AND the Super Bowl Committee is impressed enough with Tampa Bay to have us host the Super Bowl four times!! Our Bucanneers had a tremendous year for such young team. Can't wait to see what they will do next season. Come see for yourself why people love it here! The only state with no snow in Jan 2011. :)

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Sunday, December 25, 2011

Thank you to The Tampa Tribune newspaper

Mark Fagoh
Thanks to the Tampa Tribune for featuring my lovely wife for selling her Apollo Beach listing in 4 days! She is on the front page of the Home section "Above the Fold" congrats lovely Bonnie Fagoh!!

Wednesday, December 21, 2011

Last 10 Days Activity in Apollo Beach, Tampa Fl.

All I can tell you is what has happened in the last 10 days here in Tampa Bay, in particular, Apollo Beach. Out of no-where we have been swamped with both companies and individuals wanting to put in offers on properties and wanting to close by the end of the year. I can't understand how you can expect an accepted offer and then to close on it in the last 10 days of the year?? We are of course excited about these opportunities!

Home sales hint at recovery after deep slump
Wed Dec 21 19:05:39 UTC 2011

By Lucia Mutikani

WASHINGTON (Reuters) - Home sales rose in November, adding to hints of recovery, but updated data showed the housing crash was much deeper than previously thought.

The National Association of Realtors said on Wednesday that sales of previously owned homes increased 4 percent from October to an annual rate of 4.42 million units.

At November's sales pace, the 2.58 million unsold homes on the market represented a 7.0 month's supply, the lowest since February 2007 and a sign the backlog of inventory that has been weighing on the market was clearing.

The rise in sales and drop in inventory was the latest suggestion the housing sector, which triggered the 2007-09 recession, may be on the cusp of a recovery. Data on Tuesday showed housing starts scaled a 1-1/2 year high in November.

"The housing market is finding its bottom, and that will translate into more growth in GDP and less of a drag on consumer confidence," said Robert Dye, chief economist at Comerica in Dallas. "But we still have a long, long way to go."

The pickup in sales, however, is coming off a deeper trough.

NAR said it had overstated sales from 2007 through 2010 by 14.3 percent. Sales over that period averaged 4.42 million units a year, not 5.16 million, and they bottomed at a 3.30 million-unit pace in July 2010, rather than 3.86 million, underscoring the depth of the downturn.

The group blamed double-counting of properties, builders selling homes through real estate brokers and geographic population shifts as among the reasons for its mismeasurement.


A housing recovery could help underpin what already appears to be a quickening of U.S. economic growth. During normal times, economists estimate that one out of every eight jobs in the economy is generated by housing-related activity.

Lawrence Yun, the chief economist for the Realtors' group, said existing home sales for 2011 were expected to total 4.25 million units, up from 4.19 million units last year.

While the U.S. economy appears to be gathering strength, the global backdrop remains troubling with much of the world slowing down and Europe sliding into an almost certain recession.

In addition, lawmakers have yet to break an impasse over extending a payroll tax cut for 160 million U.S. workers that expires at year end. Economists have warned a failure to keep the tax cut in place could hit the economy hard.

Stocks on Wall Street were little moved by the housing data as persistent worries over the European debt crisis dominated sentiment. U.S. stock indexes fell as weak results from technology giant Oracle Corp weighed on the mood.

U.S. government debt prices also fell, while the dollar was up against the euro.

Oracle pinned its disappointing results on the increased scrutiny its customers were applying to their investment spending, a potentially bearish sign for the economic outlook.


While the inventory of unsold homes fell in November, market conditions are still troubled and analysts warned that a stream of foreclosed properties coming onto the market would likely keep prices under pressure.

The median sales price rose 2.1 percent from October, but was still down 3.5 percent from a year ago at $164,200.

Distressed properties, foreclosures and short sales which typically occur at deep discounts, accounted for 29 percent of sales last month, up from 28 percent in October.

The number of new foreclosures jumped by more than 21 percent in the third quarter as banks moved more aggressively after a pause that began late last year, a bank regulator said.

Last month, a third of pending existing home sales contracts were canceled, the NAR said. That was unchanged from October but way above the year-ago level of 9 percent, a suggestion that bank lending remains tight.

"We expect months' supply to head higher as inventory enters the market," said Michelle Meyer, a senior economist at Bank of America Merrill Lynch. "With a sluggish economic recovery, low consumer confidence and tight credit conditions, it will be difficult to clear the excess inventory."

"There is still a bumpy road ahead for the housing market," she said.

(Additional reporting by David Clarke; Writing by Lucia Mutikani and Tim Ahmann; Editing by Neil Stempleman)