Florida Real Estate Blog

Great Double-Wide Mobile Home For Sale in Zephyr Shores near Zephyrhills, FL

 
PRICE REDUCED on this wonderful furnished 2 bedroom/2 bath double-wide mobile home in Zephyr Shores, one of Zephyrhills, Florida's more popular mobile subdivisons. This is not a rental park. You own the land under the home here. And even better, the lots in Zephyr Shores are larger than in many of the other mobile subdivisions. This home happens to sit on a corner lot.

The current owner has updated several items during her occupancy of the home. The kitchen has plenty of counter space and storage in its cabinets. The range, refrigerator, and microwave oven will remain with the home. As will an assortment of utensils, dishes, pots, and pans.

Right next to the kitchen is the bright dining area with its built-in cabinets and a glass-fronted hutch. Plenty of room to entertain friends, neighbors, or family with a delicious meal.

The spacious living room is just around the corner. The home is being sold furnished, so all of the furniture that you see in the attached pictures will stay with the home when it is sold, including the sleeper-sofa. Imagine yourself relaxing here on a mild winter day while back north everyone you know is getting frostbite!

The master bedroom is just down a short hallway. It has two closets, one of which is a walk-in. Of course, it has its very own bathroom. More than enough room in the master for a sitting area, television, or computer desk. A very pleasant retreat for you to enjoy.

Even the second bedroom is larger than in many homes like this. Any guests you invite to visit you will love staying here. It has a roomy closet, and just across the hall is the second bathroom of the home.

On the east side of the home there is a nice sunny Florida room with a sofa-bed for additional guests. It also has its own air-conditioning unit for those days when you want to cool things off a bit.

On the west side of the home is a screened lanai, a carport, and an attached utility room. There you will find the washer and dryer. Lots of storage space here as well. In addition, there is also a detached utility shed behind the home.

The low homeowner association fees of just $300/year (as of June 2010) get you access to the park's recreation building, swimming pool, shuffleboard courts and Six Mile Pond. It even covers your trash pick-up service!

This is a pet restricted subdivision. In this section, 1 housecat is permitted per home.

If you think that this could be your little piece of paradise under the Florida sun, call for more information or to arrange a tour. At just $55,900 it is one of the best deals around.

If you would like to review the Multiple Listing data report for this property in PDF format, just click on the following link:  Download Zephyr Shores Drive MLS Customer Info Report

Call John Elwell - REALTOR at CENTURY 21 Bill Nye Realty, Inc. Telephone: 813-783-4444 or E-Mail: jelwell1@tampabay.rr.com You are also welcome to stop by my main webpage at: www.jelwell.century21bnr.com  

Click on any of the images below to see a larger version.

 

 

Citizens Insurance to Require Inspections if You Want Sinkhole Coverage

TALLAHASSEE, Fla. – Sept. 30, 2011 – Effective tomorrow, Oct. 1, 2011, Citizens Property Insurance Corp. won’t automatically cover sinkhole damage through an insurance rider in certain high-risk areas without a pre-coverage sinkhole inspection. While the inspection is a new requirement for the state-owned property insurer, many private insurers already require sinkhole inspections.

The change applies to all new policies in the affected areas – both existing homeowners applying for first-time sinkhole coverage and people planning to buy a home. Homeowners who currently have sinkhole coverage through Citizens do not need to schedule an inspection.

The new rule is effective for home purchases in four Florida counties: Hernando, Hillsborough, Pasco and Pinellas. The inspection applies statewide, however, if an answer is “yes” to any sinkhole-related question on the insurance application.

A Citizens-approved inspection firm must perform the sinkhole inspections. The homebuyer must pay half the inspection fee directly to the inspection company and Citizens will pay the other half, though the fee is non-refundable even if Citizens turns down the sinkhole coverage application.

“According to published information from Citizens Property Insurance, a sinkhole inspection report could take up to 30 days to complete,” says Margy Grant, Florida Realtors corporate counsel. “To avoid any delays before closing, we advise Realtors to secure property insurance sooner rather than later.”

According to Citizens, a negative sinkhole inspection does not automatically disqualify a home from coverage, but it makes the approval process more complicated.

Grant says that both residential purchase contracts available from Florida Realtors contain optional addendums that would protect buyers if they failed to secure sinkhole coverage. “Both the FAR-9 and the FAR/BAR contracts allow a buyer to withdraw if they cannot get ‘comprehensive’ homeowner’s insurance at an agreed upon price,” she says. But Grant reminds everyone that they must use the correct addendum.

Citizens has posted a PDF list of frequently asked questions on its website about the new sinkhole policies. For more information, go to www.citizensfla.com

© 2011 Florida Realtors®

Reprinted with permission. Florida Realtors®. All rights reserved.

Real-Time "Live" Tours of Homes For Sale in Zephyrhills, Florida Via Your Computer

Many of you have seen video tours of homes available on the internet. I do these presentations for most of my listings as well. Typically, these are really little movies of each property and they take you through the rooms of the home, its exterior, and the subdivisions surroundings, such as community pool, tennis courts, clubhouses, etc. You, as the observer, play a passive role and are "along for the ride". You go where the cameraman takes you.

These tours have value in that they allow buyers to get a better idea of what a home is like. Still images can also do this, just not as well. Certainly, the videos are a lot more entertaining with background music and narrations and/or captions.

But suppose you are out-of-town and would like an even better tour of a home. One in which you can direct what is shown to you? Is it possible for you to take a "true tour" while you are sitting at your computer in another part of the world? Yes, I can do that for you!

Above you see a screen shot for a program called UStream TV. On it, anyone can create a channel and then broadcast to it via a webcam or the camera on a "smart phone".

So if you wanted me to take you on a tour, here is what would happen. First you would arrange with me to have me at the subject home at an appointed time.  Then, I have created a channel called JohnElwell. To see it, you would go to this site on your computer in your home: http://www.ustream.tv/channel/johnelwell This will open up a window with a small screen that you can enlarge to full-screen if you like. Warning: Sometimes you have to sit through a few seconds of a commercial. (Oh well, nothing is completely painless!).

Once I start broadcasting from my smart phone, you will see exactly what I am pointing its camera at. And if I call you before broadcasting, you can even tell me over the phone what you want to see. "Go in closer on the mantle. Let us see a panoramic view of the master bath. What is the view like outside the front window? Is that a crack in the ceiling?" etc. Imagine it! You can decide what I will show you, and all in "real time".

Using this technology, it is now possible for you to tour a home here just as if you were here in person and walking through the structure. This is also helpful for those buyers who want a family member back in New York or Michigan to see the home before it is purchased or an offer is made. Lots of people desire 2nd opinions. Even people in different states can tune into my channel and go along with us as we tour the property. The more the merrier. Pretty neat! Right??

This is just one more tool that I will now be using to help my buyers and sellers. Technology has greatly assisted agents in doing their work. And in Zephyrhills, Florida, I strive to be ahead of the majority of REALTORS®. In this way I am able to provide superior services to my buyers and sellers. Sadly, many agents are not aware of the technology that is now available, choose not to use if for their clients' benefit, or simply do not have the knowledge to make it work. Unfortunate, but often true. So when you look for an agent to assist you, make sure that they are very adept at using the internet and other up-to-date technologies that will make selling or buying a home more efficient and less hassle-filled. Isn't that what you want?

If you would like more information about how I conduct business, do not hesitate to contact me at anytime. I will be a pleasure to assist you and help you meet your goals! JOHN ELWELL - REALTOR® at CENTURY 21 Bill Nye Realty, Inc. 813-783-4444 or e-mail at: jelwell1@tampabay.rr.com I also invite you to stop by my webpage: www.jelwell.century21bnr.com You will find a lot of useful information there! Licensed in Florida.

Pending Home Sales Down in August 2011, but Are Up in the South!

WASHINGTON – Sept. 29, 2011 – Pending home sales slipped in August with a mixed regional performance, but are higher than a year ago, according to the National Association of Realtors®.

The Pending Home Sales Index, a forward-looking indicator based on contract signings, declined 1.2 percent to 88.6 in August from 89.7 in July but is 7.7 percent above August 2010 when it stood at 82.3. The data reflects contracts but not closings.

NAR Chief Economist Lawrence Yun said the decline reflects an uneven market.

“The biggest monthly decline was in the Northeast, which was significantly disrupted by Hurricane Irene in the closing weekend of August,” he said. “But broadly speaking, contract signing activity has been holding in a narrow range for many months.”

The PHSI in the Northeast fell 5.8 percent to 63.6 in August but is 1.3 percent higher than August 2010. In the Midwest the index declined 3.7 percent to 76.2 in August but is 8.2 percent above a year ago. Pending home sales in the South rose 2.6 percent to an index of 96.9 and are 7.6 percent higher than August 2010. In the West the index declined 2.4 percent to 108.1 in August but is 10.5 percent above a year ago.

Yun said the market is underperforming given a pent-up demand in household formation.

“We continue to experience a pattern in which financially qualified homebuyers, willing to stay well within their means, are being denied credit – a factor in elevated levels of contract failures,” he said. “Based on the improving fundamentals of population growth, some job additions, rent increases and higher stock market wealth, we should be seeing existing-home sales closer to 5.5 million, but are expecting just over 4.9 million this year. The unnecessarily restrictive mortgage underwriting standards are attenuating the housing recovery and are a risk factor for the overall economy.”

Although economic growth as measured by the Gross Domestic Product is expected to remain positive, uncertainty is causing some consumer hesitation.

“We need to remove the road blocks to the housing recovery for people who are trying to take advantage of excellent affordability conditions,” Yun added. “Unfortunately, some buyers also will face notably higher mortgage rates on jumbo loans because of a lack of competition in the banking industry.”

© 2011 Florida Realtors®

Reprinted with permission. Florida Realtors®. All rights reserved.

UNREAL!! Average Mortgage Interest Rates just Barely Above 4%!! Record Low Mark!

Today, 9/29/2011, Freddie Mac reported that the average mortgage interest rate for 30 year fixed-rate mortgages was 4.01%, down from 4.09% last week. The average interest rate for 15 year fixed-rate mortgages was 3.28%, slightly down from 3.29% last week. A year ago the 30 year rate was 4.32%. The big question is, will rates finally dip below the 4% mark in the next week or two??

These rates have never been seen before, and I doubt that we will see them in the future when the market stabilizes once again. How many of you will be able to take advantage of this opportunity that will save you thousands in the years to come? A lot, I hope! 

It appears that the Federal Reserve had a hand in the drop of mortgage interest rates. They announced their Maturity Extension Program and also said that they would be buying more mortgage-backed securities.

There were also some positive notes from several of the home price indices that track the real estate market. "The Federal Housing Finance Agency reported that its National index (not seasonally adjusted) rose for the fourth consecutive month in July. Similarly, the S&P/Case-Shiller® 20-City composite index, which has a broader scope of properties, rose 0.9 percent between June and July with 17 of the cities experiencing positive monthly growth. Finally, CoreLogic® reported that its index, excluding distressed sales, increased at a 1.7 percent monthly rate for the same month."

Do keep in mind that we are a very large country. So figures that come out for the entire nation, may have little or no relevance for your particular area. In the end, it is best if you speak with a local REALTOR or financing expert to see what the situation is for your part of the United States. Florida is not Michigan, nor is Maine the same as California. Market conditions can be very different from place-to-place. Also, your own credit history, the property you want to buy, etc. will effect your specific loan options and interest rates. Your mortgage broker or bank loan officer can give you more specific information.

If you want to learn more about Freddie Mac or see the details of their survey, go to: www.freddiemac.com and click on the link for "Current Weekly Survey". They break down the survey by specific regions in the United States so you can see how your state compares to other parts of the country. They also explain the mission of Freddie Mac and offer a lot of useful information for consumers.

If you would like to speak with a lender you can find some at my website: www.jelwell.century21bnr.com . You can also speak with your own bank, credit union, or mortgage broker to see what your particular interest rate would be, should you decide to finance a home purchase.

I would also be happy to assist you in any way that I can. Just call JOHN ELWELL - REALTOR at CENTURY 21 Bill Nye Realty, Inc. : 813-783-4444 or e-mail me at: jelwell1@tampabay.rr.com You are also welcome at my webpage: www.jelwell.century21bnr.com   Licensed in Florida.

Finally Consumer Confidence in Florida is Up a Bit!

GAINESVILLE, Fla. – Sept. 28, 2011 – Florida’s consumer confidence index rose this month to 64, up three points from a revised mark of 61 in August. However, confidence still remains low, according to the University of Florida (UF) survey.

Of the five components used by UF researchers to measure overall confidence, four edged upward. Expectations that personal finances would rise in the coming year went up five points to 78, and consumer anticipation that the U.S. economy will improve in the coming year rose by one point to 52. There was also a four-point increase to 66 in the overall expectation that the country will see economic gains during the next five years. Confidence that now is a good time to purchase retail big-ticket items, such as laptops and cars, rose six points to 74.

“It is not surprising that confidence rose this month as we get further from the debt-ceiling debate,” says Chris McCarty, director of UF’s Bureau of Economic and Business Research and Survey Research Center, which conducted the survey. “Confidence actually rose this month among both younger and older respondents.”

The only component to show a decline in September was the perception that personal finances today are lower than a year ago. It fell by three points to 50.

According to the survey, Florida’s seniors, whose perceptions accounted for much of the decline in August, remain pessimistic about the economy in both the short and long run. Confidence levels of those over 60 are at “record lows,” McCarty says.

The ongoing national debate over spending cuts and entitlements is only partly responsible for sluggish confidence levels. Florida’s unemployment rate also remained stuck at 10.7 percent for the past three months. In addition, a loss of government jobs along with those in other sectors offset employment gains in a rebounding tourist industry. Moreover, tourism itself could face temporary setbacks if economic troubles worsen in Europe.

Other indicators also affect the perceptions of Florida consumers. The median price of an existing single-family home in Florida went up slightly in August to $137,500. A drop in gas prices since August was a typical market adjustment following Labor Day, McCarty says. Finally, a volatile stock market that sharply declined in July and took dramatic swings in August and September could also be taking a toll on confidence.

McCarty expects consumer confidence to remain lackluster until next year, given the looming deadline of Nov. 23 for the deficit reduction plan by the U.S. Congress’ super-commission. He thinks it will reignite debates over federal spending and again shake consumer confidence.

The UF survey measures the mood of consumers 18 or older, living in households, who were randomly telephoned Sept. 11-22. The preliminary index for September was collected from 410 respondents.

The index is benchmarked to 1966, so a value of 100 represents the same level of confidence for that year. The lowest index possible is a 2; the highest is 150.

© 2011 Florida Realtors®

Reprinted with permission. Florida Realtors®. All rights reserved.

Housing Inventories Continue to Decrease Little-by-Little

SANTA ANA, Calif. – Sept. 28, 2011 – Current residential shadow inventory as of July 2011 declined slightly to 1.6 million units – representing a supply of 5 months – from a six-month supply of 1.9 million units one year earlier, according to CoreLogic. It’s also down from April 2011 when shadow inventory stood at 1.7 million units.

The reason is simple: Banks are disposing of distressed assets faster than they’re adding new ones into the system.

CoreLogic estimates the shadow inventory, also known as pending supply, based on the number of distressed properties not currently listed on multiple listing services (MLSs) that are seriously delinquent (90 days or more) – properties most likely to become bank-owned listings (REOs). Properties not yet delinquent aren’t included in the estimate of shadow inventory.

Data highlights:

• The shadow inventory of residential properties as of July 2011 fell to 1.6 million units, or a five-month supply, down from 1.9 million units, or a six-month supply, as compared to July 2010.

• Of the 1.6 million properties currently in the shadow inventory, 770,000 units are seriously delinquent (2.2-months’ supply), 430,000 are in some stage of foreclosure (1.2-months’ supply) and 390,000 are already in REO (1.1-months’ supply).

• As of July 2011, the shadow inventory is 22 percent lower than the peak in January 2010 at 2 million units, an 8.4-months’ supply.

• The total shadow and visible inventory was 5.4 million units in July 2011, down from 6.1 million units a year ago. The shadow inventory accounts for 29 percent of the combined shadow and visible inventories.

• The aggregate current mortgage debt outstanding of the shadow inventory was $336 billion in July 2011, down 18 percent from $411 billion a year ago.

“The steady improvement in the shadow inventory is a positive development for the housing market,” says Mark Fleming, chief economist for CoreLogic. “However, continued price declines, high levels of negative equity and a sluggish labor market will keep the shadow supply elevated for an extended period of time.”

© 2011 Florida Realtors®

Reprinted with permission. Florida Realtors®. All rights reserved.

NOTE FROM JOHN ELWELL - REALTOR: Getting our inventories down is critical if we want prices to stablize and begin to rise again. Think of it like a store that has purchased too many rolls of paper towels. They need to get rid of their current inventory and will have to lower prices to do it. That is why many stores have clearance sales. To get rid of overstocked merchandise. Once we get housing inventories down to normal levels, a few months worth, then we will see more concrete signs that the housing sector is truly recovering. Prices will be more stable and buyers can be assured that they have made an investment in something that will be worth more in the future.

August 2011 New Home Sales Down, But Still 6.1% Higher Than in 2010

Sales of new single-family houses in August 2011 were at a seasonally adjusted annual rate of 295,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 2.3 percent (±13.9%) below the revised July rate of 302,000, but is 6.1 percent (±18.8%) above the August 2010 estimate of 278,000.

The median sales price of new houses sold in August 2011 was $209,100; the average sales price was $246,000. The seasonally adjusted estimate of new houses for sale at the end of August was 162,000. This represents a supply of 6.6 months at the current sales rate.

Source: US Commerce Department Press Release

NOTE FROM JOHN: Keep in mind that a ton of new homes coming on the market right now to add to the glut is not really what most of us need. The current inventory of existing homes that are for sale is large and will take months to diminish to normal levels. Adding even more new units to this already bloated number can only serve to make it harder for sellers go market their homes in a reasonable amount of time for a reasonable amount of money. So, in my humble opinion, having fewer homes built, may not be such a bad thing. Sorry Mr. Developer!

"Listing" Prices of Homes Rising in Florida! Can "Sold" Prices Be Far Behind?

ORLANDO, Fla. – Sept. 26, 2011 – Prices are rising in Florida. Florida cities have had the largest year-over-year increases in average list prices, according to the latest real estate data from Realtor.com. Based on August data of 2.2 million listings in 146 markets, Florida cities make up nine of the top 10 places for highest year-over-year list price spikes.

Nationwide, the average list price is $320,325, up 2.36 percent year-over-year.

Here are the top 15 cities boasting the highest percentage of year-over-year increases in average list prices.

1. Miami
Average list price: $640,332
Year-over-year increase: 27.4%

2. Fort Myers-Cape Coral, Fla.
Average list price: $443,570
Year-over-year increase: 26.27%

3. Central-Fla. rural service area
Average list price: $405,809
Year-over-year increase: 19.41%

4. Punta Gorda, Fla.
Average list price: $267,066
Year-over-year increase: 16.37%

5. Macon, Ga.
Average list price: $193,520
Year-over-year increase: 15.98%

6. Sarasota-Bradenton, Fla.
Average list price: $466,785
Year-over-year increase: 15.86%

7. Naples, Fla.
Average list price: $713,087
Year-over-year increase: 15.13%

8. West Palm Beach-Boca Raton, Fla.
Average list price: $591,895
Year-over-year increase: 14.68%

9. Ocala, Fla.
Average list price: $193,360
Year-over-year increase: 12.07%

10. Lakeland-Winter Haven, Fla.
Average list price: $181,409
Year-over-year increase: 11.48%

11. Orlando, Fla.
Average list price: $319,419
Year-over-year increase: 10.56%

12. Portland-Vancouver, Ore.-Wash.
Average list price: $314,537
Year-over-year increase: 10.52%

13. Boise City, Idaho
Average list price: $212,588
Year-over-year increase: 10.43%

14. Springfield, Illinois
Average list price: $174,537
Year-over-year increase: 9.12%

15. Shreveport-Bossier City, La.
Average list price: $211,414
Year-over-year increase: 8.34%

Source: Melissa Dittmann Tracey, Realtor® Magazine Daily News

© 2011 Florida Realtors®
Reprinted with permission. Florida Realtors®. All rights reserved.

NOTE FROM JOHN ELWELL: It is good to see that our state is perhaps leading the recovery. Over the years I have noticed that areas that are first hit hard when a housing market falls are often the first to start back up the ladder to recovery. Kind of like the ball that is dropped first is also the first to hit the floor and start to go back up again. Let's hope so anyway. Here I am seeing baby steps toward a brighter future for us in the Sunshine State as far as real estate goes!

No Virginia, There is NO 3.8% Sales Tax on ALL Homes Sold After 2012!

This week one of my sellers sent me an e-mail. She was very upset and worried because someone had sent her an internet rumor. In a nutshell, it said that after 2012 it would be nearly impossible to sell her home since the federal government was going to charge her a 3.8% additional tax on the sale. The message's author said that this tax would apply to ALL home sales from 2013 on and was being used to fund government healthcare. It even gave a link to www.snopes.com  so it could be verified.

This is not a new rumor. In fact, I saw some agents posting this same untrue information to various weblogs. I even heard a local agent in my hometown of Zephyrhills, Florida state that this was indeed what would happen in the future. One could understand laypersons not knowing the details. But REALTORS???? We are supposed to know what is happening in the real estate industry. And further, we are supposed to be honest and truthful.

Now, I know why the local agent said what he did. He has no love for the present administration and was using this "tax" to get his digs in. I certainly have no problem with anyone speaking against or for healthcare or the government officials that supported it. However, do it with facts, not untrue scare tactics that do nothing but frighten sellers & buyers, and make us look ignorant or dishonest. It was clearly evident that some of the blog posters had the same motivation.

The truth is that there will be a tax on some individuals, but it will likely NOT affect most people that you or I know. It will apply to the wealthiest individuals and most of us do not fall into that category. It will be used to help keep Medicare solvent, if I read the information correctly. Personally, I wish I made that much money that I would be affected! I would gladly pay the 3.8% if I were making over $200,000 adjusted gross income each year. Where the agents and the person that sent the email message tried to lead us astray is when they said the tax would apply to ALL HOME SALES (accent on the ALL). It will actually only apply to a few.

The National Association of REALTORS has provided a Question and Answer handout to clarify who will and will not have to pay an additional tax when selling real estate in the future. You can download it by clicking on the following link: Download 3.8% Tax FAQ's  If you go to Snopes, they say basically the same thing. To get a second opinion and see what Snopes' response was  CLICK HERE 

So, if you receive a scary e-mail or hear someone saying that it is what WILL happen, tell them to get the facts. You could also check with your tax preparer. My guess is that either now or very soon, they will have information about this situation that can put your minds at rest.

It is just a shame that some people are frightening innocent sellers and buyers to make some political points. By all means, make all the points you can. But do it honestly using the facts, not half-truths.

JOHN ELWELL - REALTOR at CENTURY 21 Bill Nye Realty, Inc.  813-783-4444  Webpage: www.jelwell.century21bnr.com   Licensed in Florida.