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Baywood Village Update-Palm Harbor, FL

by Doug & Gwen Campbell at Sun Bay Associates

Baywood Village in Palm Harbor, FL is an active waterfront community.  Here is an update on activities in Baywood Village for the month of April.

Easter Saturday is an Easter egg hunt at the community clubhouse for the kids.  This is always a family friendly event and a big it with the kids.  After the Easter egg hunt, the guest of honor, the Easter Bunny will make an appearance for photos with the kids.  Then everyone can have lunch with hot dogs and sodas.

Then the Baywood Village annual fishing tourney gets underway the same day.  Boats leave in the morning and end the day with laughter and a meal in the evening.

The board of directors has arranged for a hazardous materials disposal for April 28.  Bring your hazmat stuff to the Baywood Village clubhouse and Pinellas County will pick up these hazardous materials for disposal, at no cost. 

Finally, in March, the Women's Club collected over 360 items of food to donate to the local F.E.A.S.T.  The people who live here give back to the community of Palm Harbor.  Baywood Village is a great place to live.  As a waterfront community, there are real benefits, like being able to go fishing at a moment's notice, grill dinner on your deck overlooking the canal that leads to the Gulf of Mexico in just minutes.  Those who live here enjoy the life, and also give back to their community.

Home Buyer Tax Credit - Almost Gone

by Doug & Gwen Campbell at Sun Bay Associates

If you are interested in taking advantage of the home buyer tax credit - hurry, it's almost gone.  You must have your home under contract by April 30 and have closed on it by June 30, 2010.

The home buyer tax credit not only allows first time home buyers to get a tax credit or up to $8,000, it also allows current homeowners who purchase a new home, as their primary residence, to collect up to $6,500.  Keep in mind this is NOT a tax deduction, it is a tax credit.  That means it is real money in your pocket.

So, to keep this short and to the point, to take advantage of the home buyer tax credit, before it is gone, get your new home under contract by April 30.  Then be sure it closes by June 30.  It's that simple.  First time home buyers are eligible for up to $8,000.  Existing home owners who buy a new house for their primary residence are eligible for up to $6,500.

Contact us for details.

Tampa Bay Real Estate Market, Mortgage Interest Rates Impact Your Purchase

by Doug & Gwen Campbell at Sun Bay Associates

In today's real estate market, many buyers are saying "Let's wait until the prices go down more so we can get a better deal."  This is a frequent refrain in the Tampa Bay real estate market, especially after the red hot market of a couple years ago.  Well, that can be a poor business decision.  Currently, mortgage interest rates are at or near historic lows, and housing prices are at 10 years lows, making today's real estate market a great time to buy.  For the buyer who wants to save an extra 1% or 2% on the price of a home, they could be losing far more in the value of what they can get for their money.

Let's look at a few secnarios with purchase prices, monthly income, interest rates and some allowances for increased costs to maintain a home.

With a total monthly income of $4,000, the maximum mortgage for a home at 6% = $134,267; at 5.5% = $141,778; at 5% = $149,957.  The extra 1% in mortgage interest resulted in more than a 10% drop in value or more than $15,000 less house.

With a total monthly income of $6,000, the maximum mortgage for a home at 6% = $194,590; at 5.5% = $205,475; at 5% = $217,329.  The extra 1% in mortgage interest again resulted in more than a 10% drop in value, or almost $23,000 less house.

With a total monthly income of $10,000, the maximum mortgage for a home at 6% = $388,902; at 5.5% = $410,657; at 5% = $434,347.  The extra 1% in mortgage interest again resulted in about a 10% drop in value or more than $45,000 less house.

The numbers are what they are.  Mortgage interest rates can impact your home purchase and by waiting, even if the prices are dropping, if the interest rate rises it is entirely possible that the buyer gets less house for the same amount of money.  The moral is, when you find the right house, buy it.  Don't try to outsmart the market, especially if you are looking to buy a home in the Tampa Bay real estate market.  Although the market may not have hit bottom, prices are not likely to go down a whole lot more, and mortgage interest rates are very likely to begin to rise.

Real Estate Sales in Oldsmar, FL

by Doug & Gwen Campbell at Sun Bay Associates

Oldsmar, FL is a wonderful community in the Tampa Bay area.  The following data can help you determine the current situation of the real estate market, especially in Oldsmar, FL.  Here are some pertinent statistics for real estate activity in Oldsmar for the first two months of 2010.

Price range $300,000 - $500,000:  Active listings 40; Under contract 5; Pending sale 3; Sold 2;  Expired listings 7; Average days on market 238

Price range $175,000 - $300,000:  Active listings 44; Under contract 4; Pending sale 8; Sold 4; Expired listings 12; Average days on market 69

Price range up to $175,000:  Active listings 33; Under contract 10; Pending sale 11; Sold 12; Expired listings 5; Average days on market 67

In most cases, houses that expire are priced too high, although there can be other causes, such as poor condition.  However, if priced correctly, just about anything will sell.  Higher priced houses simply take longer to sell since there are fewer buyers as price increases.  The numbers show that there are fewer listings in Oldsmar for $175,000 or less and more houses sold in that same price range, so the most activity is in the under $175,000 price range.  Also, these houses sold quicker than the higher ranges.  The Oldsmar real estate market is very active under $175,000, and this is typical for the greater Tampa Bay area.  Higher priced houses have fewer qualified buyers available so the sales numbers for the higher priced houses are a bit less encouraging. 

With interest rates at historic lows, and home prices at ten year lows, this is a terrific time for qualified buyers to find outstanding value when looking for their new home.

Real Estate Sales Activity in Palm Harbor, FL

by Doug & Gwen Campbell at Sun Bay Associates

Baywood Village in Palm Harbor,FL is a waterfront community on the Gulf of Mexico with a canal system that connects many homes in the neighborhood to the Gulf.  There is a wide range of home prices in Baywood Village, since the neighborhood was first started in the early 1960s.  The first homes in Baywood Village were built in the early 1960s and various phases were added over the years, with Baywood 5 being the final phase built in the late 1980s.    The phases of construction account for much of the range of home prices.  The real estate sales activity for the first two months of 2010 are below.

In the $125,000 to $175,000 price range, there are 4 houses listed and 3 sold.  The average Days on Market for the active listings is 226, the average Days on Market (DOM) for those that sold is 65.  For the three houses that sold, the average sales price was 91% of the average list price.

In the $175,000 to $300,000 price range, there are 5 houses listed, 2 under contract and 1 sold.  The average DOM for the active listings is 89 and for the one that sold is 379 and it sold for $$145,000.

In the $300,000 to $500,000 price range, there are 6 houses listed, 1 under contract and 0 sold.  The average DOM for the listed homes is 218.

In the $500,000 and above price range, there are 6 active listings, 1 under contract and 1 sold.  The average DOM for the listed homes is 165 and the 1 that sold was on the market for 147 days and was listed at $725,000 and sold for $650,000.

Generally, the longer a home is listed, it means that the list price is too high.  In some cases, especially in a short sale situation, a house may be listed for a long time because of the lengthy bank approval time for short sales. 

Naturally, home prices are down from the peak of 2005, in Baywood Village as just about everywhere else.  When houses are priced properly, sales move much quicker because the marketplace is accepting the prices.  The Days on Market or DOM is a very good indicator for homeowners to use to understand that a house that has no or very little activity in the first 30 days, or is on the market for more than 90 days, needs to have the price adjusted.  This is true in almost all cases, especially in today's market where price is the driver since there is still a lot of inventory.

Avoid Foreclosure in Palm Harbor, FL

by Doug & Gwen Campbell at Sun Bay Associates

Imagine that you live in Palm Harbor, FL, are behind on your mortgage, and facing foreclosure.  This is not an unusual scenario for people in Palm Harbor, FL, or almost anywhere else in Florida either.  On TV and the radio, you hear ads from attorneys telling people to extend the time they can live in their homes by not paying their mortgages and eventually declaring bankruptcy to avoid foreclosure.  In some cases this may actually benefit the homeowner, but not in most cases.  After foreclosure, the homeowner is, in almost all cases, still responsible for the TOTAL mortgage balance.  And if the homeowner goes to a lawyer, there is the up front fee that must be paid to that attorney.

A real alternative is to try the short sale route.  This is simply selling the home at market value.  When an offer comes in, the homeowner asks the bank to forgive the difference between the amount owed and the amount the house sells for.  In many cases, the bank will even forgive asking for a deficiency judgment.  If the short sale is successfully concluded and the deficiency judgment is negotiated away, the homeowner can then move on with his/her life without the cloud of a massive debt hanging over them. 

If you know someone who lives in Palm Harbor, FL and is upside down in their home, or someone in your community in that situation, give the short sale approach some thought.  It is far better than declaring bankruptcy or going through foreclosure.  Click here for additional information.

 

Second Home in Palm Harbor or Dunedin??

by Doug & Gwen Campbell at Sun Bay Associates

If you are need a second home for your retirement, take a look at the Palm Harbor and Dunedin communities in Florida.  There is lots to do, from restaurants to cultural events to outdoor festivals and crafts fairs, to shopping and of course the beaches with fishing and other water activities, and baseball's spring training.  Palm Harbor and Dunedin are on the Gulf Coast of Florida.  Prices are more affordable here than they have been for years, and possibly for years to come.  Interest rates are at or near record lows.  There are several neighborhoods for 55+ living and all offer great lifestyles.

During the peak season, winter, there is something happening nearly every weekend.  Coming in March is the Citrus Festival in Palm Harbor.  This is in Old Palm Harbor from March 18-21.  There will be carnival rides, games, shows with music for all tastes, and naturally lots of FOOD.  Dunedin has a regular schedule of street festivals, with food, music, and crafts.  The Dunedin marina is right across from Main Street with scenic views of Honeymoon and Caladesi Islands, along with spectacular Florida sunsets.

Among the best places to get a great cup of fresh brewed coffee is the Old Town Cafe in Old Palm Harbor.  For terrific ice cream, you have to visit Strachans Ice Cream Shop in downtown Dunedin.

Now that the weather is warming, the fishing will be excellent.  Kingfish are about ready to start the spring migration.  If you like hearing a reel scream as line is stripped off, this is a wonderful gamefish.

Did I mention baseball?  Spring training has the Yankees, Phillies, and Blue Jays all within a very short drive.  See your favorite big league ballplayers in a different setting in intimate ballparks.

If you are retired, or soon to be retired, or just want a second home in the Palm Harbor and Dunedin area in Florida, you need to check it out.  Whether you are interested in fishing, the beaches, shoppinng, spring training baseball, street festivals or simply living in a 55+ community, come on down.  The weather is fine, especially in February and March!!  It feels wonderful to sit in the stands, soak in the sun, munch on a ballpark hot dog and watch your favorite team get ready for summer.

Baywood Village - a Waterfront Community in Palm Harbor, FL

by Doug & Gwen Campbell at Sun Bay Associates

Baywood Village in Palm Harbor, FL is a quiet, waterfront community that is one of the best kept secrets in  north Pinellas County.  The homes on the canal system have direct access to the Gulf of Mexico and most have docks with boat lifts right out the back door, although in Baywood Village, the dockside is considered the front door.  There is a mix of older homes and newly built homes - with all the upgrades one would expect in a waterfront community.

Of course the fishing in the Gulf of Mexico is excellent, only minutes from your dock.  Just a mile or two away from Baywood Village are Anclote Key and Three Rooker Bar, both boating destinations for the community, whether for a day trip at the beach, a weekend for fishing and partying, or for the outstanding fishing in the flats surrounding these islands.  Also, just a short ride by either car or boat is Howard Park in Tarpon Springs, just north of Palm Harbor.  Howard Park has wonderful beach and picnic facilities and is a very popular destination all year round.

Baywood Village is also a short drive from historic downtown Palm Harbor.  There are wonderful restaurants, such as the Thirsty Marlin, Peggy O'Neills Irish Eatery, and the Old Town Cafe which serves absolutely excellent coffee, coffee specialties and desserts.  Not to mention great lunches.

Palm Harbor also has excellent schools, with the jewel being Palm Harbor University High School.

One of the best features of living in Baywood Village is that it is still an affordable waterfront community.  And in the current real estate market, Baywood Village in Palm Harbor is a desirable and affordable place to live. 

Check it out.  The fish are waiting for you - right outside your "front" door.

Bay Arbor - a Gated Community in Oldsmar, Florida

by Doug & Gwen Campbell at Sun Bay Associates

Bay Arbor in Oldsmar Florida is a gated community that takes you from the bustle of the busy life to the country, just by passing through the gate.  There are several ponds in the community, with lots of deer and otters and other wildlife.  Get the feeling of being in the country and still be just minutes from Tampa International Airport, shopping, parks and recreation, excellent restaurants and those casual meeting places for a cup of coffe and freshly baked pastry.

Bay Arbor is deed restricted, wonderfully landscaped, with streetlamps, a community pool, volley ball court and a very involved board of directors.  Tampa International Airport is less than a thirty minute drive from Olsdmar.  There are many cul de sacs in Bay Arbor so that there is very little traffic on the community streets.

Oldsmar has terrific parks with festivals, fishing piers, playgrounds and lots of other activities, including Oldsmar Days in the spring.  The city is on upper Tampa Bay with all the marine activities that come with such a wonderful natural resource.

Come see Bay Arbor in Oldsmar, Florida.  Enjoy the feeling of being in the country yet still be very close to all the action of living in a thriving community with parks, recreation, fine shopping and the Tampa Bay lifestyle.

Displaying blog entries 1-9 of 9

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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