But birds aren’t the only wildlife you are apt to see when you drive through Palm Harbor, Oldsmar, Dunedin or other parts of Pinellas County.

This morning I was in a Dunedin neighborhood, and I noticed some loud splashing in a creek that ran behind some houses near the Dunedin Community Center. I walked over to investigate, and saw two otters frolicking in the water.

After I watched them for a few minutes, I realized there were more than just two — there were four in all, splashing in the creek and then chasing each other around one of the backyards.

There’s all kinds of wildlife in Pinellas County, and you usually don’t have to travel very far to find them.

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.

Silicon Valley, around the southern tip of San Francisco Bay

The two areas are San Francisco – or Silicon Valley, to be more specific – and Lake Tahoe, about 200 miles to the east. Real estate agents in both of those markets are thinking that economic developments in Silicon Valley’s high-tech industry might create a huge stimulus to high-end real estate sales in their areas.

A little history; the Lake Tahoe area has long been a favorite vacation spot for Silicon Valley entrepreneurs. Lots of high-tech CEOs and other highly compensated executives have long been drawn to the Lake Tahoe area on the California-Nevada border, just a four-hour drive from the San Francisco area.

One upcoming business event really has captured the attention of real estate agents both in Silicon Valley and in Lake Tahoe; the expected IPO of Facebook. That single event, if it takes place as expected, will create a new generation of Silicon Valley millionaires, many of them young adults with families.

Young, wealthy adults with families are a perfect fit for high-end lakefront properties in Tahoe.

The Tahoe market for million-dollar vacation properties has been depressed during the last few years, as you might expect. But the sales of premium Tahoe properties perked up during the third quarter of 2011, and observers of the market say Silicon Valley high-tech execs were right in the thick of those sales. Sales of those premium vacation properties stretched from a million dollars to four million or more.

Some buyers from the tech industry have snapped up vacation homes recently that run from $1 million to $4 million or more. Observers of the real estate scene in the Lake Tahoe area noted that one expensive lakefront development, Martis Camp, had 20 parcels bought up in the past year by executives for such high-tech companies as Google, Facebook and Apple, all based in Silicon Valley.

Facebook may be the biggest IPO player on the horizon, but it is not the only one. Ernst & Young says that 25 high-tech companies in the San Francisco Bay area are getting their Initial Public Offerings together.

“That’s all just great,” you may say. “But, really, what does all that have to do with real estate here in Tampa Bay? After all, Silicon Valley and Lake Tahoe couldn’t be much further away from here.”

True enough. But here is why I think this discussion is relevant:

Silicon Valley has Facebook, Google, Apple and literally hundreds of other high-tech companies. Most of them are doing really well. Somewhere around 25 of them are planning to go public very soon. When that happens, the high –end real estate markets in at least two separate geographic areas of California will boom. Sales of home in the middle price ranges should benefit, as well.

So where is our Silicon Valley? Where are all the IPOs in Tampa Bay?

There isn’t one, and there aren’t any.

We don’t have a sluggish real estate market; we have a sluggish economy, with little in the way of good-paying jobs and bright financial futures.

I’m delighted for Silicon Valley and for the Lake Tahoe area. But their success may mean little to real estate’s big picture if we don’t find ways of igniting this country’s economy once again.

 Step out our front door and walk to the left, and in a minute or so you are in front of Dunedin Country Club. Walk to the right, and in about the same amount of time you are walking past a par-three public course, Dunedin Stirling Links.

 I usually walk east, in the Dunedin Country Club direction, when I walk Bo, our puggle. My husband usually goes in the other direction, and heads past Dunedin Stirling Links when it is his turn to walk the dog.

Down in that westerly direction, not quite as far as Alt. 19, there is a small tree. Its trunk is surrounded by white decorative blocks. We both have walked by that tree many times, but it was only recently that we noticed there was a small plaque in the ground at the tree’s base.

 As you travel around North Pinellas County, there are quite a few commemorative plaques, but you have to pay attention or they simply blend into the background and you never see them. All of them have been put in place for a reason, but they don’t always have room to tell the entire story.

 In this case, there isn’t much more than a name, a couple of baseballs, and a family’s loving sentiment. Here is what it says:

In Memory of
Elliott Richard Pape
Big L
2 – 7 – 87       12 – 5 – 05
We love you
We will see you again
Love Mom Dad and girls

 Someone went to some trouble to plant that tree in a young man’s memory, and I thought I’d see if I could find out more of the story.

 It didn’t take much work.  I went to the St. Petersburg TIMES website (okay, I know, its been called the Tampa Bay TIMES since New Year’s Day, but I don’t think I’ll ever get used to calling it that), and found a story published just before Christmas of 2005.

Elliott Richard Pape was an 18-year-old Dunedin youth who worked part-time as a bat boy for the Tampa Bay Rays baseball team. On Dec. 12, 2005, he was killed in a motorcycle accident as he rode home.

 Here is what the newspaper said about his death:

 “On Monday afternoon, Pape was riding his 2006 Suzuki motorcycle home to Dunedin. He took the Roosevelt Boulevard exit ramp off Interstate 275 at 4:08 p.m. when he lost control in the turn, the Florida Highway Patrol said.

“He hit the brakes, but the motorcycle skidded into the guardrail, throwing him over the rail and onto the embankment, troopers said.”

 So that’s the story of the tree. I don’t know whether Elliott Richard Pape liked to play golf at Dunedin Stirling Links, but hopefully his tree will grow and prosper, and golfers will stop there once in a while to read the plaque that his family put there.

These two ducks live in a marshy pond that is on the edge of a golf course right next to our Dunedin condo. Taking this picture involved stepping out the back door and walking maybe 20 steps to the end of the water. These guys must see enough golfers every day that they hardly took any note of my presence at all.

Usually the Christmas holidays bring the real estate business in Pinellas County to pretty much of a halt. That hasn’t really been the case this year. My phone has been ringing steadily — people were calling to look at property on Christmas Eve, and then again on the day after Christmas. Also, the entire month of December has been pretty busy. I’m not sure if that means anything in terms of trends, but I’m always happy to see an active Pinellas County real estate market, whatever the reason.

I do think we can expect a pretty active real estate period starting right after the New Year. Are you thinking about buying or selling a home in Pinellas County in the next few weeks or months? Now is a good time to get the ball rolling. Give me a call anytime at 727-643-7100, or e-mail me at beth@bethfrederick.com.

If you are a regular reader of this blog, you know we have been cautiously reporting some positive factors that seem to be contributing to a slowly-emerging, or improving, real estate market.

None of these things have been dramatic, but all of them have been positive – things like an improving employment picture, continuing low interest rates, and increases in the number of pending home sales.

Here’s one more thing to add to the list – an optimistic report from the National Association of Home Builders (NAHB).

The NAHB reported this week that confidence among home builders is on the upswing when it comes to the construction of single-family homes.  The NAHB says it is the third consecutive month that builders have reported increased confidence in the future of single-family home construction.

 “While builder confidence remains low, the consistent gains registered over the past several months are an indication that pockets of recovery are slowly starting to emerge in scattered housing markets,” said NAHB Chairman Bob Nielsen.

Nielsen had something else to say, also; he noted that new single-family home sales might be even better if lenders were a little freer with their money. Builders and home buyers are both being negatively impacted by tight credit restrictions, he said.

NAHB Chief Economist David Crowe said buyers are still cautious because of the large inventories of foreclosed properties in many markets, and they also worry about continuing high unemployment ands the challenges of selling their existing homes.

Even so, Crowe said, “builders are reporting more inquiries and more interest among potential buyers than they have seen in previous months.”

The area of the country where builders are expressing the biggest boosts in confidence levels? Right here in the South.

 Pending sales now are running 9.4 percent above last year’s levels.

Here in the South, those numbers are strong as well, if a bit behind the national average. Pending sales in the South for October were up 8.6 percent.

NAR doesn’t break down those figures beyond regions, but it’s safe to say that real estate trends in Pinellas County roughly track the NAR’s regional analysis. Some if you are thinking about a real estate purchase in Pinellas County, this information should be a real plus as you consider your options.

Lawrence Yun, chief economist for the National Association of Realtors, said the increase may be due to the continuing affordability homes, and pent-up demand.

 ”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,” he said. “We hope this is indicates more buyers are taking advantage of the excellent affordability conditions.”

 While the numbers are encouraging, there is a caution that must be remembered; not all contracts lead to closed transactions. In fact, these tough economic times have resulted in an increase in the number of contracts that never reach closing. Sometimes appraisals come in lower than agreed-upon sales prices and that can end deals; Also, buyers sometimes underestimate the new, more stringent credit score requirements.

 ”Although contract signings are up, not all contracts lead to closings,” Yun said. “Many potential home buyers inadvertently hurt their credit scores and chances of getting a mortgage through easily averted actions, such as canceling 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 to the margins of qualifying, or they might get a loan but with less favorable terms.”

 If you are wondering where you might stand in trying to buy a home in Pinellas County, you should give me a call. I have many years of experience in the mortgage field, both in Pinellas County and elsewhere, and I can offer you valuable advice about how to go forward in today’s real estate market.

If so, and you have a mortgage on your home, you may be starting to think about refinancing. After all, interest rates are at historic lows. Just about 10 days ago, Freddie Mac reported the average rate for 30-year fixed mortgages had dropped to 3.94 percent, which was the lowest rate in history.

So why wouldn’t you take advantage of that unbelievably low rate and refinance the old ranch?

Well, because a lot of experts are saying that mortgage rates might go even lower, that’s why. That’s where the steely eyes and the firm hands come into play.

You could re-finance now and take advantage of great mortgage interest rates. OR, you could wait a little longer and (perhaps) take advantage of even lower interest rates.

Rates may vary a little bit in different areas around the country. But rates are WAY down almost everywhere you look, and the end of falling rates may not be in sight yet.

Why do these rates keep coming down? There are several reasons:

The Federal Reserve has been buying up mortgage-backed securities in hopes of forcing interest rates down.

President Obama is trying to strengthen the Home Affordable Refinance Program, which helps home owners refinance their properties – even properties with little or no equity.

The idea behind all this is that if lots of people refinance their mortgages, it could have a stimulating effect on the economy at large.

With current rates hovering around (or even below) four percent, it’s tempting to think about refinancing now. After all, how much lower can the rates go?

Many industry observers believe that you should be able to cut at least one percent off your rate when you re-finance. If you can’t do that, they say, closing costs and fees could counteract the benefits of the refinance.

But if you can talk the lender into waiving many of the fees associated with a refinance, then it may make sense to refinance, even if the new rate is only a half-percent better than the old one.

So… do ya feel lucky? Well, do ya?

We’re around five years into the recession, and the real estate market has been suffering all of that time. There were a lot of reasons for the downturn, just as there are lots of reasons for the slow recovery.

While I don’t have a magic bullet to right the ship and make everything okay real estate-wise, I think there are some things that could be done right now to stimulate sales and make things better, here in Pinellas County and really everywhere. Nothing is going to make up for nine percent unemployment or for the under-employment of millions more people, but I think we could do a lot for the national and the Pinellas County real estate markets to make home ownership more possible for thousands of would-be home owners by taking a few simple steps.

Here they are:

1. MAKE CREDIT STANDARDS MORE REASONABLE: Much of the problem in the first place resulted from very easy-going credit standards when it came to home mortgages – things such as incomes that didn’t have to be verified or 100 percent (and even 110-percent) financing. Lenders have reacted to those transgressions by tightening credit requirements to a ridiculous level. So let’s find a happy medium that works for buyers while protecting the interests of lenders.
2. BRING BACK THE 90 PERCENT MORTGAGE:  Where we once saw no-money-down mortgages, we now see lenders who want 20 or 25 percent down. There are many very qualified buyers with good incomes who should be able to buy homes with 10 percent down. Let’s make that possible for the right buyers.
3. STREAMLINE THE UNDERWRITING PROCESS:  Underwriting has become extremely tight and difficult, and it is not unusual for lenders to come back repeatedly for additional documentation. That takes extra time, and deals can fall apart during those long waits. Good, effective underwriting shouldn’t have to take weeks or months.
4. GENERATE MORE JOBS: Probably the biggest impediment to a housing market recovery is a lack of good-paying jobs. If people can’t earn adequate incomes, they can’t afford to buy new homes. This is something the government can help with by instituting encouraging policies; the private sector can contribute to it by investing in themselves in ways that encourage job creation.
5. CLEAR OUT THE FORECLOSURE INVENTORY: Banks have been slow to clear out the inventory of foreclosed homes. Short sales can take forever, and lenders seem to be in no hurry to get their foreclosed-upon properties off their books. Some observers even say that banks have withheld significant numbers of foreclosed properties in order to keep home values from falling even further.  If banks want to get back to the business of lending money for home purchases, they have to do their part, take the hit, and get that inventory back into the hands of private owners.

Got any ideas of your own? Send them along and I’ll post them on the blog.

In many ways, this is a great time to buy Pinellas County real estate, especially in certain market segments. Give me a call and we’ll discuss: 727-643-7100, or e-mail me at beth@bethfrederick.com .