Florida Real Estate Blog

Pending Home Sales Take a Nice Upward Jump in October 2011

WASHINGTON – Nov. 30, 2011 – Pending home sales rose strongly in October and remain above year-ago levels, according to the National Association of Realtors® (NAR).

The Pending Home Sales Index (PHSI), a forward-looking indicator based on contract signings, surged 10.4 percent to 93.3 in October from 84.5 in September and is 9.2 percent above October 2010 when it stood at 85.5. The data reflects contracts but not closings.

“Home sales have been plodding along at a sub-par level while interest rates are hovering at record lows, and there is a pent-up demand from buyers who normally would have entered the market in recent years,” says Lawrence Yun, NAR chief economist. “We hope this is indicates more buyers are taking advantage of the excellent affordability conditions. Many consumers recognize that homebuyers in the past two years have had one of the lowest default rates in history. Moreover, continued inventory declines are another healthy sign for the housing market.”

The PHSI in the Northeast surged 17.7 percent to 71.3 in October and is 3.4 percent above October 2010. In the Midwest the index jumped 24.1 percent to 88.7 in October and remains 13.2 percent above a year ago. Pending home sales in the South rose 8.6 percent in October to an index of 99.5 and are 9.7 percent higher than October 2010. In the West, the index slipped 0.3 percent to 105.5 in October but is 8.1 percent above a year ago.

“Although contract signings are up, not all contracts lead to closings,” Yun says. “Many potential homebuyers inadvertently hurt their credit scores and chances of getting a mortgage through easily averted actions, such as cancelling an old credit line while taking on a new one. Such actions could unwittingly prevent buyers from obtaining a mortgage if their credit score is close the margins of qualifying – or they might get a loan but with less favorable terms.”

© 2011 Florida Realtors®

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

We Can Say Adios to the 2011 Hurricane Season - Not Much Excitement Here. Good!

Today, November 30th, is officially the "last day" of the 2011 Hurricane Season. Though possible, it is very unlikely that a hurricane will now cause us any harm since the Atlantic Ocean and the Gulf of Mexicao are cooling off after the summer heat. Hurricanes need very warm waters in order to get started.

We were fortunate again this year and had no major storms come our way. That was good news for sure. Funny though how most of our insurance rates did not drop and the insurance companies continue to cry poverty.

Speaking of insurance, I always recommend that once the official storm season is over here in the Sunshine State, it might be a good time to review your insurance coverage and find out what other insurance companies are charging for the same coverage you currently have. Now that the 2012 hurricane season is many months off, and the risk of damage is less, it might be possible to find new companies writing policies with better rates. In any case, it costs you nothing to shop around and you might save a few hundred bucks and get better coverage. What do you have to lose by asking?

Again, we are all glad to see the end of this year's hurricane season. Let's hope we have many more years with as little local action as we saw in 2011. No one would complain about that. Least of all, homeowners and real estate agents!

I invite you to visit my webpage at: http://www.jelwell.century21bnr.com/ where you will find links to many interesting sites dealing with real estate. You are always welcome there.

I can also be contacted via e-mail at: jelwell1@tampabay.rr.com or by phone at: 813-783-4444  John Elwell - REALTOR at CENTURY 21 Bill Nye Realty, Inc. in Zephyrhills, Florida. Licensed in Florida.

Image from NOAA

Beautiful Furnished Double-Wide Mobile Home with Land For Sale in Forest Lake Estates in Zephyrhills, FL

This beautiful and furnished double-wide mobile home is located in Forest Lake Estates on the east side of Zephyrhills, Florida. It has 2 bedrooms & 2 full baths and is being sold "move-in ready". Just bring your personal items and start enjoying your new life in one of Zephyrhills' most attractive subdivisions.

The vaulted ceilings in this double-wide mobile make it seem even larger than it already is! The main living area is open and bright with excellent circulation from living room to dining room to kitchen. A perfect place to entertain friends and family in a warm and relaxed atmosphere. The dining room has the space to hold a large table and surely many delicious meals will be enjoyed here. Just want a snack or a less formal meal? Then the kitchen's peninsula/breakfast bar will be a nice place to nibble away.

Just off the living room is a screened lanai with its table, chairs and gliders that beckon you to have a seat and enjoy the tranquility of Forest Lake Estates. Put up your feet and just luxuriate in our great sub-tropical climate. After all, isn't that why you came to the Sunshine State?

The spacious master bedroom is at the rear of the home. It has its own full en-suite bath with a double vanity and shower. What a great place to get ready to greet the day or to unwind after a long one! More than enough closet space here for all of your storage needs. A second large bedroom and hall bath are nearby, and will provide all of the extra room for guests that you might require.

Forest Lake Estates is a cooperative, and the current owners HAVE purchased their share which will be transferred to the home's new owners. So NO lot rent to pay here. The monthly HOA fee covers your lawncare, trash removal & entrance to the subdivision's amenities including: 2 swimming pools, a whirlpool spa, a HUGE clubhouse, tennis courts, shuffleboard courts, horseshoe pitches, and a park area by the lake! Just about the best facilities that you will find in Zephyrhills!

This wonderful home has a lot to offer for just $69,900! Come and see if this could be your winter retreat or your “for always” home.

Call JOHN ELWELL at CENTURY 21 Bill Nye Realty, Inc. 813-783-4444 or email me at: jelwell1@tampabay.rr.com Licensed in Florida.

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

Florida Trailer Estates Furnished Mobile Home For Sale at a Great Price in Zephyrhills, Florida

Don't want to spend a fortune to get your piece of the Sunshine State? Then consider this property. Located in Florida Trailer Estates, this clean & furnished mobile home has 2 bedrooms and 1 bath. The main living area has vaulted ceilings which makes this space seem even larger. The flow from the dining area to the kitchen to the living room is unobstructed. More than enough room to comfortably entertain friends and family. The comfortable furnishings will make spending time here a true pleasure.

The bedrooms are just down the hall with the full bathroom close at hand. Have guests coming down from the north to get a little Florida sunshine? They will no doubt enjoy the accomodations this residence provides.

Just outside the front door is a large winterized Florida room with a connection to the home's central heating and A/C system. It could be a television room, office area, third bedroom, craft room, etc! It even has a trundle bed for guests to sleep on. And extra space is always nice.

Outside is the home's carport, a very big storage shed, and a laundry room with a half bath inside. The washer and dryer inside will also stay with the home.

In Florida Trailer Estates you own the land under the mobile units. This is NOT a rental park. HOA fees are low, yet the park still has a fine recreation building & shuffleboard courts.

Just east of the northern business area of Zephyrhills, Florida, the location of this home will make your trips to supercenters, restaurants, medical facilities, supermarkets, parks, neighboring cities, etc extremely convenient.

For its very modest price of just $35,000, this home has a lot to offer. Come and see if this could be your winter retreat or your “for always” home. Call today!

JOHN ELWELL at CENTURY 21 Bill Nye Realty, Inc. 813-783-4444 or email me at: jelwell1@tampabay.rr.com  Licensed in Florida

Click on any image below to see a larger version.

 

Jump of 15 Points for Consumer Confidence - Are We Feeling More Positive?

NEW YORK – Nov. 29, 2011 – The Conference Board Consumer Confidence Index, which declined in October, surged almost 15 points in November.

The Index now stands at 56.0, up from 40.9 in October. The Present Situation Index increased 11.2 points to 38.3 from 27.1. The Expectations Index, which gauges attitudes about the economy’s condition six months from now, went up 17.8 points to 67.8 from 50.0.

“Confidence has bounced back to levels last seen during the summer (July 2011, 59.2),” says Lynn Franco, Director of The Conference Board Consumer Research Center. “Consumers’ assessment of current conditions finally improved after six months of steady declines. Consumers’ apprehension regarding the short-term outlook for business conditions, jobs and income prospects eased considerably. Consumers appear to be entering the holiday season in better spirits, though overall readings remain historically weak.”

Consumers’ appraisal of present-day conditions
Those stating business conditions are “good” increased to 13.3 percent from 11.2 percent, while those stating business conditions are “bad” declined to 38.2 percent from 43.7 percent. Consumers’ appraisal of the labor market was also more upbeat.

Those claiming jobs are “plentiful” increased to 5.8 percent from 3.6 percent, while those saying jobs are “hard to get” decreased to 42.1 percent from 46.9 percent.

Consumers’ short-term outlook
The Expectation Index, which declined last month, was less negative in November. The proportion of consumers anticipating business conditions to improve over the next six months increased to 13.6 percent from 10.2 percent, while those anticipating business conditions will worsen declined to 15.8 percent from 21.3 percent.

Consumers’ outlook for the job market also improved. Those expecting more jobs in the months ahead rose to 12.9 percent from 10.8 percent, while those expecting fewer jobs decreased to 24.1 percent from 27.6 percent. The proportion of consumers anticipating an increase in their incomes rose to 14.9 percent from 11.1 percent.

Nielsen, a global provider of information and analytics, conducts the monthly Consumer Confidence Survey based on a probability-design random sample. The cutoff date for the preliminary results was Nov. 15.

© 2011 Florida Realtors®

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

Locating Sex Offenders in Pasco County and Zephyrhills, Florida Via the Internet

Increasingly, buyers, sellers, and homeowners want to know if a convicted sex offender is in their neighborhoods. Though it can be difficult to assess the gravity of each situation, it never hurts to be aware of what is happening around your home and town. Hardly any developed area of the United States is devoid of offenders.

As real estate agents it is impossible for my colleagues or me to know where every single offender is at any point in time. People do move around, but offenders have to report where they live. Law enforcement officials keep track of them on their computer systems. However, thanks to the internet YOU too can perform searches and get a better idea of who is out there, what crime they commited, and where they live.

The Family Watchdog webpage lets you put in an address or area, and then creates a map so you can see where offenders live in that zone. By clicking on the boxes on the map you can see who the offender is, where he/she resides, and what his/her offense was. To go to the Family Watchdog site, CLICK HERE

In Pasco County, Florida you can also click on the Pasco County Sheriff's webpage at: http://pascosheriff.com to find a list of Sexual Predators that now reside in Pasco County, Florida. There is no map here that I could find. This is just a list with names, addresses, pictures, and offenses. It may also just deal with "predators" and not with other sex offenders.

Both of these sites do provide useful information for people that already live in this area and those who are moving here. I hope that these links were helpful to you.

Postal Workers to Collect "Toys for Tots" Donations on Saturday, December 3, 2011

I was just notified that on Saturday, December 3, 2011, our mail delivery persons will be collecting Toys for Tots to add the United States Marine Corps Reserve's efforts here. I suspect that they are also doing this in other parts of the country. Call your local post offices to confirm that.

Here in Pasco County, we are being asked to leave NEW, UNWRAPPED TOYS by our mailboxes on Saturday, December 3rd. You local deliveryperson will take these donations back to the post office where they will be transferred to the Corps.

Many of us are having hard times lately, but there are many others who have things even WORSE. You know it, and I know it. And at Christmas time, the ones who get hit the hardest are the little ones. Remember how magical it all was when you were little? Now, think of how bad it could have been if when you got out of bed on Christmas morning there had been NOTHING for you under the tree. And worse, no tree either! This will be the reality for many children if we do not help out.

So when you are at the store, pick up some item you think a child would enjoy. Then set it out on the 3rd for pick-up by your postal worker. You will get a warm feeling NOW and some child will get that same warm feeling LATER. Not bad! Merry Christmas and Thanks!

For more information you can visit the Toys for Tots website at: www.ToysForTots.org

John Elwell - REALTOR at CENTURY 21 Bill Nye Realty, Inc. 813-783-4444. Licensed in Florida.

Christmas Stroll 2011 in Downtown Dade City, Florida on December 10th

From 5:00 PM to 9:00 PM on Saturday, December 10th, Dade City, Florida will host a Country Christmas Stroll in its downtown shopping area near the Historic Courthouse. Our nights are so nice this time of year, and Dade City is a perfect setting for this event.

Included in the festivities will be:

• Strolling Carolers
• A Children's Winter Wonderland
• Live Entertainment on 4 Stages
• Horse-Drawn Wagon Rides
• Pony Rides
• A Bounce House
• And more!

Stores and restaurants will be open so you can also get some gift shopping done and enjoy a nice meal. Dade City has many unique shops and several great places where you can dine. So come on out and get into the spirit of the season!

For more information, you can call Historic Downtown Dade City at 352-567-0284.

Church Street Christmas 2011 in Dade City, Florida from December 21st to 23rd

This annual event in Dade City, Florida is always a crowd pleaser. Most of the residents of brick-paved Church Street decorate their homes and lawns for the holiday season. You will see enchanting houses, lots of luminaries, carolers and choral groups singing, and even hot chocolate. The weather is pleasantly cool in December here and the stroll will be very enjoyable.

Each evening from the 21st to the 23rd the stroll down Church Street will begin at 6:00 PM and end at 9:00 PM.

Come out with your family and enjoy this once-a-year celebration in Dade City!

Average Mortgage Interest Rates Drop Below 4% Again and are at New Record Lows!

Freddie Mac released their weekly report a day early this week due to the Thanksgiving Day holiday. So, today, 11/23/2011, Freddie Mac reported that the average mortgage interest rate for 30 year fixed-rate mortgages was 3.98%, down from 4.00% last week. The average interest rate for 15 year fixed-rate mortgages was 3.30%, down from 3.31% last week. A year ago the 30 year rate was 4.40%.

Interest rates are at all-time lows. Adjustable rate mortgage rates are also at historically low levels. Due to the affordability of homes being within the reach of so many buyers, this resulted  in a 1.4% increase in existing home sales in October. You might have noted that in a couple of previous posts I wrote a few days ago. Low home prices and low interest rates make a home purchase very attractive to potential buyers. We may not see this type of situation ever again!

The Bureau of Economic Analysis, the Federal Reserve, and other organizations reported some sour economic news, and as often happens, this probably helped to keep interest rates down again. I also just read that new employment figures would be lower this time around. But, the silver lining is still the high affordability of a home purchase. And there are millions of people out there who are still doing "okay". Not making a fortune, but they are not in the situation that the unemployed and under-employed are. They are the ones who will be able to take advantage of the great prices and low mortgage interest. I hope many of you fall into that category!

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.