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Morning Coffee, Happy New Year

by Doug & Gwen Campbell at Sun Bay Associates
Monday Morning Coffee

INSPIRATION FOR TODAY:

"Who exactly do you want to be? What kind of person do you want to be? What are your personal ideals?
Whom do you admire? What are their special traits that you would make your own?

It's time to stop being vague. If you wish to be an extraordinary person, if you wish to be wise,
then you should explicitly identify the kind of person you aspire to become."

- Epictetus


WHERE DO YOU WANT TO GO TODAY?

Microsoft uses that slogan to convince you that with their software you can head in any direction you please. Earl Nightingale, one of the great motivational speakers, said it better. "Imagine that you are the captain of a great ocean-going vessel," he suggests. "Before even leaving the harbor, you lay out plans for your voyage. Using maps, you choose a destination, then employ your navigational skills to arrive safely".

"Without a chosen destination and a map to help you arrive," he continues, "you are akin to a ship without a rudder. If you get out of the harbor at all, you'll probably end up a derelict on some deserted beach."

On this verge of the year 2011, I hope you've decided on a destination for the year and have looked carefully at the map that will take you there. A word of caution is in order. Be careful not to choose too many destinations, meaning don't set too many goals for the year. Including more than a handful of worthy objectives can leave you with maps and navigational instruments strewn all over your desk - resulting in chaos, lack of focus, and questionable navigation.

It's better to have four clearly defined targets for the year, accompanied by a masterful plan for their achievement, than to have only a list of 25 hoped-for achievements. Anthony Robbins suggests the following agenda for achieving your most worthy objectives.

First, write down a "dream inventory" - a list of everything you want to accomplish in 2011. Next choose the four most important major goals. For each of the four make a list of the benefits you will enjoy when you achieve them. Then list all the resources you currently possess which would be of benefit to achieving your major goals, i.e. experience, knowledge, skills, positive attitude, friendliness, perseverance, etc.

Continue by listing the three most successful times in your life. Under each, write down a description of how you felt and acted during those times, i.e. felt invincible, presented a professional image, smiled a lot, wasn't afraid to try a new approach, etc. Next write down the type person you would have to be to achieve your goals, i.e. must be prepared for presentations, must always have confidence, must put others' needs first, must organize my time, etc. Follow this with a list of "What prevents me from achieving this right now." Write down your fears, your lack of action, etc.

Finally, write down the steps you must take to achieve each of the four major goals. This would be a list of each and every task that must be completed in order to produce the maximum results. By breaking down the objective into individual steps, it becomes more manageable.

Notice that achieving a major goal requires major planning. Have you already done your homework and feel completely prepared? Hopefully so. If not, take the first week of the coming new year to build a plan for your future. It's well worth the effort!

Highland Lakes, Palm Harbor - a 30 Day Real Estate Update

by Doug & Gwen Campbell at Sun Bay Associates

Today is the final 30 day update for 2010 and we will do the real estate update for Highland Lakes, Palm Harbor, a very desirable 55+ community.  Highland Lakes has access to Lake Tarpon, has three par 3 golf courses, a clubhouse, fitness center and lots of activities.  Highland Lakes is the largest 55+ community in Palm Harbor.

The real estate activity in the last 30 days, for single family homes and villas shows there are 70 properties for sale, ranging in price from $44,900 up to $450,000 - which is a lakefront home on Lake Tarpon.  The average days on market for the homes for sale is 172.  The lakefront home, listed for $450,000 has 1,037 days on market.

In the last 30 days, six homes have come on the market in Highland Lakes, Palm Harbor: 2 villas and 4 single family homes.

There are 15 homes under contract in Highland Lakes with list prices ranging from $59,900 to $185,000.  The average days on market is a little over 100 days.

In the last 30 days, 10 homes have sold in Highland Lakes.  The listed prices ranged from $72,000 to $799,000 and the average days on market was 114.  The home listed for $799,000 was a bank owned property and sold in 0 days for only $85,000 so this is one that is a statistical outlier.

The average sales price for these 10 homes in Highland Lakes was $97,940, average days on market was 114.  The sold prices ranged from $69,000 to $162,500 and the days on market ranged from 28 to 479.

The lower the number of days on market, the closer the price is to the market value.  When a house comes on the market at a price higher than the market is willing to pay, it sits on the market getting little showing activity, as a rule, until the price is dropped to a value the real estate market (buyers) is willing to accept.  In the current market, the longer the house sits on the market, the lower the final sale price is likely to be because the values are continuing to decline.  Thus, it is better to price your house correctly as the outset in order to get the best possible price instead of hoping to get more than the market is willing to pay.  Time is not a seller's friend in today's real estate market.

If you would like more information about a specific neighborhood, whether in Palm Harbor or elsewhere, visit Sun Bay Associates' Market Snapshot for a real time look at the real estate market in that neighborhood.

If you would like to see a broader picture of real estate in the Tampa Bay area, visit Sun Bay Associates' FREE home search and design your own real estate search.

Happy New Year!!

Why Not Price My Home with Room to Negotiate??

by Doug & Gwen Campbell at Sun Bay Associates

A very common question we get from sellers is "Why not price my home high enough to leave room to negotiate?"  This is just about the most common question we get when talking with sellers and potential customers.  It would be really peachy to just say that it is a good idea, go ahead and price your home above the market, someone will buy it.  But we can't.  The following is meant mostly for our market, Tampa Bay.

In truth, we do not take the easy way out, and by giving the customer the hard facts of today's real estate market, they may decide to list with an agent who is willing to put their home on the market at a too high price, let it sit for six months and cost them money and time.  The most successful way we have found to address this question is to make a visual so they can "see" our point about the current market.  After showing the customer all the data from our research into prices in their neighborhood, surrounding area and the greater area also, including less than positive data from NAR and the local and national media, there are many who still immediately ask why not build in negotiating room.  One response we have had success with is to let them know the reality of pricing and the way the market searches for real estate.

If the house has a market value of $175,000 and they want to price their home at $200,000, for the "wiggle room", we let them know the market that is looking in their real price range doesn't even see their house because it is too high and is in a different search bracket.  Buyers, and agents, often search in $25,000 brackets and if someone is looking for a home in the $175,000 range, because that is what they are approved for, they are not going to even look at anything priced for $200,000.  They won't often even look for anything priced at $180,000 since they are not approved.  Today's buyer is very savvy and is aware that if houses are priced too high, there are many, many others that are correctly priced and there is no point in getting into a haggle over a few thousand dollars for an over-priced house when there are many others that will accept a price that is fair on the first offer.

For example, one visual that has been successful is to compare the price of a house to catching a train.  I know the train is scheduled to leave the station at noon.  So I show up at ten after and wait, and wait, and wait.  Why?  Because the train has already left the station.  In this market, the prices are not going up, so why price a house above the market?  All that does is cost the seller time and money, because in this down real estate market, the longer a house is on the market the more value it loses.  Thus, being priced for "negotiating room" is being too high in the marketplace and buyers are not even going to find the house to consider making an offer that the seller might accept.  In other words, that train has left the station and your house is going to sit on the market, become a stale listing, lose value and after six months of being ignored by the market because the seller wanted more, and the agent allowed it, the customer is going to feel that the real estate agent did not do his job.

So, the customer must realize that realtor consultants are working to sell your home.  Otherwise, the customer does not sell her home, loses time and money and by the way, the realtor not only does not get paid, but also loses money.  An overpriced listing is almost worse than no listing at all.  It is the responsibility of realtor consultants to price a home correctly in this market to best serve their customers.  As long as prices continue to fall, there is no point to price your home higher than where the level has already been.

Royal Stewart Arms - 30 Day Real Estate Update

by Doug & Gwen Campbell at Sun Bay Associates

Today's Neighborhood Scoop 30 day real estate update is for Royal Stewart Arms, Dunedin.  This 55+ condo community is on the Dunedin Causeway at the entrance to Honeymoon Island and just a quick ferry ride to Caladesi Island, two of the best beaches in the United States.

For this 30 day update, Royal Stewart Arms has 25 condos listed for sale.  The average price is $164,077 with 152 days on market.  The average list price per square foot is $168.  Since our last update, 2 condos have come up for sale in this desirable 55+ condo community in Dunedin.

7 Dundoon Pl., #103 is listed for $157,900 and has only 2 days on market.  This is a 957 square foot 1 bedroom/1 bath condo.  The list price per square foot is $165.

9 Forbes Pl. #210 is listed for $189,900 and has 30 days on market.  This is a 975 square foot 2 bedroom/2 bath condo.  The list price per square foot is $195.

In the last 30 days, 3 condos have sold in Royal Stewart Arms.  The average selling price was $153,000, average days on market was 44 and the average price per square foot was $146.

The largest, at 1181 square feet is a 2 bedroom/2 bath condo and was completely renovated with new kitchen, bathrooms and tile floors in the last six months, and new air conditioner and air handler installed in 2009 too!!  The list price for this stunning condo was $199,950 and the sale price was $195,000, with a price per square foot of $165.  This unit had only 55 days on market.

The other two units sold were:

7 Elgin Pl., #308, listed for $129,900 and sold for $117,000 after only 25 days on market.  This is a 970 square foot 2 bedroom/1 bath condo with the sale price per square foot at $121.

7 Elgin Pl., #803, listed for $159,900 and sold for $147,000 after 51 days on market.  This is a 975 square foot 2 bedroom/2 bath condo and the sale price per square foot was $151.

If you are interested in the real estate activity in your or any specific neighborhood, check out our Sun Bay Associates' Market Snapshot for real time real estate listings and sales.

For real estate activity in the greater Tampa Bay area, check out Sun Bay Associates' FREE home search and design your own personal real estate search.

Fortunately, the real estate market in the 55+ condo community of Royal Stewart Arms does not currently have any distressed property listings.  If you would like to learn more about distressed property, short sales or foreclosures, check out Sun Bay Associates' distressed property site for information and free reports.

Happy House Hunting!!

Wentworth Estates, Tarpon Springs a 30 Day Update

by Doug & Gwen Campbell at Sun Bay Associates

WOW!!  Luxury living at Wentworth Estates in Tarpon Springs.  This is a golf course community with absolute luxury homes and in the current market the prices are as good as they will be for years.

This 30 day update shows that there are 13 properties listed for sale.  Of these, 5 are distressed property, one is bank owned and 4 are short sales.

Of the 13 active listings, the average list price is $916,669 with an average of 170 days on market.  The average list price per square foot is $172 in this luxury golf course community.

In the last 30 days, two homes appeared on the for sale list.  For information on these, or any of the homes for sale in Wentworth Estates, contact us.

3021 Kensington Trace, Wentworth Estates in Tarpon Springs.  This is a stunning 4900 square foot home that is a distressed property, bank owned.  It has only 27 days on market.  It is listed for $559,900.

2985 Kensington Trace, Tarpon Springs, is listed for $1,095,000 and has 28 days on market.  This is NOT a distressed property, has 6 bedrooms and a 4 car garage.

There are 2 of the luxury homes of Wentworth Estates currently under contract.

2846 Roehampton Close is listed for $489,000 and was listed for 507 days on market.  This luxury home is a distressed property, short sale.  It has 3,761 square feet, 5 bedrooms and a pool, among many other incredible appointments.

3020 Kensington Trace is listed for $675,000 and was listed for 144 days on market.  This luxury home has 6,565 square feet, 5 bedrooms, 4 full and 2 half baths with much more.

For the homes that are under contract, the average list price was $582,000 and the average days on market was 325, although this could be skewed due to the fact that both are short sales.

There were no reported MLS sales in the last 30 days.

If you would like to learn more about distressed property, short sales or foreclosures, visit Sun Bay Associates' distressed property site for free information. 

For specific information on your or any individual neighborhood, visit Sun Bay Associates' Market Snapshot for real time information on current listings, sales and prices.

If you would like to create a broad search for real estate in the Tampa Bay area, visit Sun Bay Associates' FREE home search for real time data on sales, listings and pricing in the greater Tampa Bay area.

Happy House Hunting!!

River Watch, Tarpon Springs - a 30 Day Update

by Doug & Gwen Campbell at Sun Bay Associates

Today's 30 day real estate update is for River Watch, Tarpon Springs.  This is a waterfront community on the banks of the Anclote River in Tarpon Springs.  The community has a boat launch and dock for Gulf access.  The community also has a very well kept park and playground, making it a great neighborhood to relax in after a hard day at work.

Currently, there are 6 homes listed for sale, ranging in price from $189,900 to $399,000.  The days on market range from 2 to 234.  The average list price in River Watch is $264,650 and the average days on market is 89.

Of these six homes for sale,3 are distressed property, short sales. 

In the last 30 days, one new listing came on the market:  1175 Blackrush Dr., listed for $260,000.

In the last 30 days, two homes sold in River Watch, Tarpon Springs.

1998 Anclote Vista, River Watch, listed for $265,000 and sold for $255,000 with only 17 days on market.  This is a 2,537 square foot home, with a pool and 3 car garage. 

1128 Riveredge Dr., River Watch, listed for $300,000 and sold for $289,000 with 462 days on market.  This was a short sale.  The house had 2,926 square feet, a pool and a 3 car garage.

This neighborhood has several distressesd property listings, and three active short sales.  The values are somewhat depressed with the presence of distressed property in River Watch and correct pricing is essential in today's real estate market.  After 90 days or so with no offers or contracts, the real estate market is telling the seller that the asking price is too high.  Being the highest price in the neighborhood is also not always a benefit when trying to sell your home.  Houses that are priced correctly will get viewings and offers quickly.  Houses that are priced too high will simply sit on the market and become stale listings that will get little or no activity.

In today's real estate market, it is far better to price your home competitively, get offers you can consider or reject instead of pricing your home too high to leave "room to negotiate".  A too high list price, in this real estate market, will have the opposite effect and instead of buyers coming to negotiate, they will simply go find another home or equal or similar value that is priced more competitively.  It is important to consider that in the Pinellas County real estate market, for every 100 homes listed for sale, only 8.3% actually sold in November.  This most likely means that about 80-90% were priced too high for this market.

If you would like to get real time information on your neighborhood, simply visit Sun Bay Associates's Market Snapshot.  For real estate activity in the greater Tampa Bay area, visit Sun Bay Associates' FREE home search and create your unique real estate search to get an accurate picture of the current real estate activity in the area. 

If you are more interested in getting information about distressed property including short sales and foreclosures, visit Sun Bay Associates' distressed property site.

Happy House Hunting!!

River Watch, Tarpon Springs - a 30 Day Update

by Doug & Gwen Campbell at Sun Bay Associates

Today's 30 day real estate update is for River Watch, Tarpon Springs.  This is a waterfront community on the banks of the Anclote River in Tarpon Springs.  The community has a boat launch and dock for Gulf access.  The community also has a very well kept park and playground, making it a great neighborhood to relax in after a hard day at work.

Currently, there are 6 homes listed for sale, ranging in price from $189,900 to $399,000.  The days on market range from 2 to 234.  The average list price in River Watch is $264,650 and the average days on market is 89.

Of these six homes for sale,3 are distressed property, short sales. 

In the last 30 days, one new listing came on the market:  1175 Blackrush Dr., listed for $260,000.

In the last 30 days, two homes sold in River Watch, Tarpon Springs.

1998 Anclote Vista, River Watch, listed for $265,000 and sold for $255,000 with only 17 days on market.  This is a 2,537 square foot home, with a pool and 3 car garage. 

1128 Riveredge Dr., River Watch, listed for $300,000 and sold for $289,000 with 462 days on market.  This was a short sale.  The house had 2,926 square feet, a pool and a 3 car garage.

This neighborhood has several distressesd property listings, and three active short sales.  The values are somewhat depressed with the presence of distressed property in River Watch and correct pricing is essential in today's real estate market.  After 90 days or so with no offers or contracts, the real estate market is telling the seller that the asking price is too high.  Being the highest price in the neighborhood is also not always a benefit when trying to sell your home.  Houses that are priced correctly will get viewings and offers quickly.  Houses that are priced too high will simply sit on the market and become stale listings that will get little or no activity.

In today's real estate market, it is far better to price your home competitively, get offers you can consider or reject instead of pricing your home too high to leave "room to negotiate".  A too high list price, in this real estate market, will have the opposite effect and instead of buyers coming to negotiate, they will simply go find another home or equal or similar value that is priced more competitively.  It is important to consider that in the Pinellas County real estate market, for every 100 homes listed for sale, only 8.3% actually sold in November.  This most likely means that about 80-90% were priced too high for this market.

If you would like to get real time information on your neighborhood, simply visit Sun Bay Associates's Market Snapshot.  For real estate activity in the greater Tampa Bay area, visit Sun Bay Associates' FREE home search and create your unique real estate search to get an accurate picture of the current real estate activity in the area. 

If you are more interested in getting information about distressed property including short sales and foreclosures, visit Sun Bay Associates' distressed property site.

Happy House Hunting!!

Eniswood, Palm Harbor - a 30 Day Update

by Doug & Gwen Campbell at Sun Bay Associates

For this 30 day update, Eniswood, Palm Harbor had a busy month of real estate acivity.  This is a very desirable neighborhood in Palm Harbor with an excellent location that is convenient to the beaches, fishing, Lake Tarpon, excellent schools, shopping, restaurants and only about 30 to 45 minutes from the Tampa International Airport.

One new listing came on the market in this 30 day period.  1128 Eniswood Pkwy, listed for $300,000 with 2,630 square feet and a pool.

For the three active listings in Eniswood, the average list price is $254,967 and the days on market averages 163.

There are currently 3 houses under contract in Eniswood, Palm Harbor.  All three are distressed property, short sales.

1264 Ridgegrove Dr. S, listed for $189,00 with 205 days on market.  This is a short sale, the home has 1,960 square feet, has a pool an a 2 car garage.

1176 Eniswood Pkwy., listed for $225,000 with 205 days on market.  This is also a short sale, is a home with 2,059 square feet and a 2 car garage.

1116 Eniswood Pkwy., listed for $270,000 with 342 days on market.  This is a 3,302 square foot home, has a pool and a 3 car garage.

The average list price for these three homes under contract is $228,000 with an average days on market of 202.

Two homes sold during this 30 day period, neither was a distressed property.

2933 Glenpark Rd., listed for $199,900, sold for $198,000 after only 4 days on market.

The other sold home was 1092 Eniswood Pkwy., listed for $344,900 and sold for $342,000 after 74 days on market.  Both homes sold for 99% of the list price. 

To learn more about real estate activity in a specific neighborhood, visit Sun Bay Associates' Market Snapshot to see what is happening in your neighborhood in real time.

If you would like to learn more about distressed property, short sales and foreclosures, visit Sun Bay Associates' distressed property site for reports and information.  For those more adventurous souls who want to research real estate in the greater Tampa Bay area, visit Sun Bay Associates' FREE home search and design your unique real estate search.

Happy House Hunting!!

Patty Ann Acres, Palm Harbor

by Doug & Gwen Campbell at Sun Bay Associates

Today's 30 day update is for Patty Ann Acres, Palm Harbor.  In the past 30 days there has not been any new listing or sold house.  This seems to follow the pattern of people waiting until after the holidays to put their home on the market, which may be costing them buyers and the best price, since serious buyers are out at this time of year.

There are currently 5 houses listed for sale, with prices ranging from $139,900 to $259,900 and the days on market range from 41 to 211.

One house listing expired in the last 30 days.  It is a distressed property, short sale and foreclosure proceedings have begun on this house.

Of the currently listed homes in Patty Ann Acres, one is a distressed property, short sale.  This is 1920 Sandpiper Dr. and is listed for $199,000 with 211 days on market.

For those who may want to learn more about distressed property, short sales or foreclosures, visit Sun Bay Associates' distressed property website for free reports and additional info on distressed property.  To learn more about your specific neighborhood, visit Sun Bay Associates' Market Snapshot for real time real estate information.

To perform a real estate search in the greater Tampa Bay area, visit Sun Bay Associates' FREE home search and tailor your real estate search to your specific needs.

Happy House Hunting!!

East Lake Woodlands, Oldsmar, 30-day Update

by Doug & Gwen Campbell at Sun Bay Associates

Here is today's 30-day update, this time for East Lake Woodlands, Oldsmar.  We are looking at single family real estate activity in the past 30 days.  More than 1/2 of the real estate activity in East Lake Woodlands, Oldsmar is made up of distressed property, mostly short sale houses in the single family real estate market.

There are 13 currently active listings in East Lake Woodlands.  The list prices range from $119,900 to $1,250,000 and the days on market range from 17 to 279.  The average list price for East Lake Woodlands is now $379,071 and the average days on market is 140 for houses that are listed for sale.

Two homes have come on the market in the last 30 days.

435 Holly Hill Rd., listed for $283,900.  This is a 2,180 square foot home, with 3 bedrooms/2 1/2 baths, a pool and a 2 car garage.

The other recent listing is 5276 Enclave Dr., listed for $949,000.  This singlel family home is 4,779 square feet, with 4 bedrooms/4 baths, a pool and a 4 car garage.

There are for this 30 day period, 4 houses under contract in East Lake Woodlands, Oldsmar.  All are distressed property.

165 Nina Way, listed for $105,000 had 61 days on market.  It is a distressed property, short sale.

10 Morning Dove Pl., #1-B, listed for $149,900 at only 13 days on market.  This is a 1332 square foot home with a pool and is a distressed property, short sale.

440 Palmdale Dr., listed for $215,000 and 456 days on market.  This is a 2276 square foot home, no pool and a 2 car garage.  This is a distressed property, short sale.

430 Forest Park Rd., listed for $299,000 with 124 days on market.  This is a distressed property, bank owned house.

One house sold in the last 30 days in East Lake Woodlands.  It was a bank owned house.  1756 E. Lake Woodlands Pkwy., listed for $1,050,000 and sold for $980,000 after only 44 days on market.  This clearly is proof that even the up scale homes are subject to becoming distressed property sales.

In Pinellas County, there were 432 homes for sale above $900,000.  Of these 432 homes listed for sale in this price range, 6 sold.  This is a very good indicator that if a house in this price range is going to sell, it will need to be priced correctly, or it can sit on the market for a very, very long time because there is so much competition on the market at the upscale price range.

If you would like to learn more about distressed property, visit Sun Bay Associates' distressed property website.  There are free reports and lots of information about short sales, foreclosures and much more.

To learn more about your specific neighborhood, visit Sun Bay Associates' Market Snapshot and see in real time what the real estate activity in the neighborhood looks like, including prices of homes for sale and prices of homes that actually sold.

For those of you who are adventurous and want to design your own real estate search for the greater Tampa Bay area, visit Sun Bay Associates FREE home search and create your unique real estate search.

Happy House Hunting!!

 

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Photo of Gwen and  Doug Campbell - Sun Bay Realty Group Real Estate
Gwen and Doug Campbell - Sun Bay Realty Group
at Keller Williams Realty
30522 US Hwy 19N, Suite 107
Palm Harbor FL 34684
Doug's Cell 727-741-4189
Gwen's Cell 727-741-7260
Fax: 888-447-7908