Title

Archive for the 'homes for sale' Category

Pinellas County real estate becomes a sellers’ market

Here’s a recent development in real estate that I don’t think too many people would have predicted: In recent weeks, we’ve sort of quietly shifted from a buyers’ market to a seller’s market.

 That’s right, buyers are having to scramble to get good, solid, timely offers in on the homes they really want to buy. If they don’t, POOF! The house is gone to someone with quicker reflexes.

 And this shift does not just apply to Pinellas County homes; it’s a phenomenon that’s being noticed across the country. The WALL STREET JOURNAL even wrote about it today.

 According to the JOURNAL, buyers are increasingly competing for homes, and even entering into bidding wars. I haven’t seen anything that I would describe as bidding wars locally, but I have had several buyers submitting offers above the asking price, knowing that the house of their dreams won’t stay on the market.

 According to the JOURNAL (and my own sense of what’s going on locally), this sellers’ market is not so much about increasing numbers of sales – it’s more about a lack of good, desirable properties on the market.

 It makes sense when you think about it. Sellers keep their homes off the market because of declining values. If someone owes $300,000 on a home that is now worth $200,000, why put it on the market if you don’t have to?

 And we are now about six years into the housing slump, which means a lot of homes that would have been sold in a more normal market have simply never been listed.

 And there’s another reason, too. Lenders have been extremely slow to put their foreclosed properties on the market. There’s plenty of foreclosed-upon, unoccupied homes out there, in this market and most others, but the lender-owners seem to fear more value declines if they put all those properties on the market.

 It’s a strange market, no doubt. But it is a market with many great opportunities, for buyers and sellers alike.

Tags: Clearwater, Dunedin, Palm Harbor, pinellas county, real estate, sellers' market, Tarpon Springs

Interest rates are low, but they won’t always be. Remember that when you consider buying a home in Pinellas County

What single factor may splash cold water on the recovering housing market? According to a CNN/Fortune Magazine report, it could be interest rates.

“What’s that?” you say. “Interest rates are at historic lows. Interest rates seem to be the one single thing that we don’t have to worry about when we think about the housing market.”

Yup, you are correct.  But according to the report, rising interest rates could be looming. And if that comes true, it will retard the housing market recovery.

According to the report, there are a number of factors that should have favorable impacts on a better housing market – strong improvements in the rate of single-family housing starts, more construction permits being pulled, and an upward trend in home sales across the nation, to name just three.

And let’s not forget really, REALLY low interest rates.

But, according to the report, interest rates will inevitably rise. And when they do, mortgage costs will go up. And that will be an impediment to a market recovery.

Those historically low interest rates are around 4 percent right now. But the MEDIAN interest rate, looked at long-term, is more like 9 percent. The report says that when interest rates go up, as they inevitably will, the effect is likely to be like an anchor on the recovery of the housing market.

-0-

Something else that is probably inevitable – people saying, “Wow, I wish I had purchased a home in Dunedin or Palm Harbor when the prices and interest rates were really low.”

That doesn’t have to be you. Call or e-mail me now and we’ll discuss what you want to accomplish home-wise. I’m always available! beth@bethfrederick.com, or 727-643-7100.

Tags: Dunedin, home, interest rates, Oldsmar, Palm Harbor, pinellas county, purchase

Waterfowl love living in Dunedin

As I’ve said before here, I love Florida’s birds — they are one of things that make living here so interesting.

There’s a pond a few steps from my back door, and it attracts all sorts of different birds. There’s a family of ducks that live there, and they are there every day, but other waterfowl pop in for vistits pretty regularly.

I was outside the other day when this big guy dropped in. I think it’s a heron of some sort, but I’m no expert and I couldn’t find a picture on the internet of a bird that exactly matched this fellow, so I’m not really sure what he is. If you recognize it, please post what you know.

What’s the point of bird pictures on a blog that specializes in Pinellas County real estate? Good question. But it’s my blog, and I like birds, so you can expect to see some photos of birds that I come across in Pinellas County. This particular guy is in Dunedin, a little south of Palm Harbor.

Tags: birds, Dunedin, Palm Harbor, pinellas county, real estate, wildlife

Nature’s paradise in Cross Creek

I don’t usually broadcast individual homes that are for sale on this blog, but I’m offering an absolute gem in Cross Creek in Oldsmar that you really have to see. It’s immaculate and beautifully decorated, but the truly gorgeous feature is what’s out back — a dock that overlooks a small river, with an island nature reserve on the other side.

The pictures tell the story, so click below and take a look at the photo gallery on the website I put together for this outstanding property.

http://1514woodstreamdr.epropertysites.com/

Tags: cross creek, homes for sale, nature reserve, Oldsmar