Real Estate Market Conditions

March 2012 Land O' Lakes Real Estate Market Conditions

April 30, 2012

Now is the best time to buy a home. Prices and interest rates are at their lowest in years, and the selection is outstanding! In Land o’ Lakes we have 339 active listings as of this post ranging from $3,250,000 for a 8749 square foot Mansion to a $24,750 villa. Home prices are slightly higher.

There are 24 foreclosures offered for sale, and 91 short sales. 224 homes are traditional sales with no mortgage challenges and are ready to close in 30 days!

In the month of March home prices were slightly higher with 98 homes sold. We have approximately 3.4 months of inventory, making this a strong seller’s market. So you can see, we have past the bottom and now is the time to buy before the prices start to go up more.

I have been selling homes in this area for over 14 years. Please call me if you have any questions.

Dee Smith, RE/MAX Premier Group 813-995-2322

December 2011 Land O Lakes Rea Estate Market Conditions

January 18, 2012

Land o lakes had 374 active listings, the median price listing was $149,066 and the average age was 95 days. 88 listings sold , the median price was $141,950, with average 95 days on the market. We have less than 5 months of inventory so it is a seller’s market. Of the 88 that sold, 52% were short sales, 18% were bank owned properties, and 30% were non-distressed properties.

Please don't hesitate to call if you want more info, and when buying, or selling, remember, we make it easy for you!

November 2011 Land O' Lakes Real Estate Market Conditions

November 13, 2011

Current statistics are - Active listings in Land o' Lakes is at 419, Pending is 289, and 68 homes sold in the month of October. We have 6.1 months of inventory, making it still just bearly a Buyers Market in Land o' Lakes. The average active list price is $227,622 , pending list price $157,315, sold price is $160,998.

Now is the time to buy. Many are predicting the market to tip to a sellers market next Spring 2012, after about 7 years of enjoying the Buyers Market with as much as 20 months of inventory, and really great buys! For the last 2 years prices have fluctuated up and down about 1-3% but with a higher inventory than we have now, keeping the buyers in control.. As the inventory drops, and more buyers come into the market, the sellers will be more in control, which should cause prices to rise slightly.

As always, if you have any questions about buying or selling houses, please feel free to call me any time.

BETTER SHORT SALE PROGRAMS HAVE BEEN ROLLED OUT RECENTLY BY THE MAJOR LENDERS.

October 25, 2011

Real Estate Market News

Better Short Sale Programs have been rolled out recently by the major lenders. Bank of America, Chase, CitiMortgage all have their own versions of short sale programs similar to the HAFA (Home Affordable Foreclosure Alternative) plan which has been around for a few years now. These programs are very cooperative with the homeowner who needs to sell and finds themselves owing more than their home is worth. Some of the programs offer cash incentives to the homeowner to do a short sale. Almost all of them will give a satisfaction of mortgage and promise not to pursue a deficiency judgment. If you might be interested in such a program contact a Realtor who specializes in Short Sales to find out if you qualify.

Then , depending you your situation, you may be free to buy your New Home at today’s low prices and low mortgage rates. I have been specializing in Short Sales for 5 years. Feel free to call me with all your questions about short sales, or other real estate topics. Dee Smith 813-995-2322

October 2011 Land O' Lakes Real Estate Market Conditions

October 4, 2011

Now is the best time to buy a home. Prices and interest rates are at their lowest in years, and the selection is outstanding! In Land o’ Lakes we have 445 active listings in the MLS as of this post (10/4/11) ranging from a $3,700,000 Mansion to a $12,500 condo. Median price is $162,000. Home prices are stable.

There are 18 foreclosures offered for sale, and 187 short sales. 240 homes are traditional sales with no mortgage challenges and are ready to close in 30 days!

In the month of September 83 homes sold. Homes are selling in an average of 2-3 months and we have approximately 5.3 months of inventory making this a balanced market, and nearer to a seller’s market. So you can see, now is the time to buy before the prices start to go up.

Most of the homes are built in the 1990's and 2000 in our area. All main north and south streets lead to Tampa, making an easy commute. It is said you can get anywhere in Tampa from here in 30 minutes... To the airport in about 20-30 minutes.

Dee Smith