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Short Sale - A Happy Real Estate Story

by Doug & Gwen Campbell at Sun Bay Associates

Here is something you seldom see, a Realtor singing the praises of a bank with a short sale in the story line.  On May 26, 2013 we listed a condo, as a short sale, with two mortgages.  The two mortgages on the condo were both with Chase Bank.

Today, August 21, 2013, the short sale was completed.  Chase Bank is wonderful to work with!

Our seller is happy, our buyer is happy, and the Realtors who dealt with Chase Bank are happy.

Thank you Chase Bank.  A closed short sale in less than 90 days.  Woo Hoo!!

Now that the good news is out, here is the kicker.  Not every story has a happy ending.  The Mortgage Debt Relief Act will expire at midnight on December 31, 2013.  Congress has no intention of extending it.  If you are in the position of having, or wanting, to sell your home and it is worth less today than your mortgage balance, you might be in a short sale situation.  You still have time to list your house and get it sold and NOT have the forgiven balance count as income.  After January 1, 2014, the forgiven amount of a "short mortgage" may be counted as income.  Thus, someone who sells their home for, for example, $100,000 and the mortgage balance is $150,000, the amount the bank forgives, $50,000 could count as ordinary income.  What this could mean is that someone who earns $75,000 a year, and has a short sale after January 1, 2014, could have the $50,000 added to their taxable income.  If you're in a potential short sale situation, act now.

A short sale does not have to be a big scary monster.  Talk to us and we can provide you with expert information, including finding an attorney who specializes in distressed property if that is necessary.

To learn more about what this might mean to you, contact us at Sun Bay Associates.  If you are not sure of the current market value of your home, click on our home valuation link and get an estimate of your current market value.

Whole Foods Coming to Clearwater

by Doug & Gwen Campbell at Sun Bay Associates

Great news for natural food lovers in the Clearwater and Dunedin area.  Whole Foods Market is coming to Countryside Mall in Clearwater.  It is being built adjacent to Sears by the BJs Restaurant and Brewhouse entrance.  This well respected natural food grocer is set to open in 2014.  Just another reason to own real estate in Clearwater and Dunedin.  Go by the Mall occasionally to watch the progress of the Whole Foods construction.

Here's a real estate update for the Countryside area.  Want to see what single family homes are available in Countryside?  Create your own real estate search here.  There are currently 19 single family homes listed for sale, 27 are under contract and in the last 90 days, 28 homes in Countryside were sold.  To put it another way, every month there are nine houses in Countryside that sell.  With 19 houses now listed as active for sale, this means that there is just over a two month supply of homes available in Countryside.

Or another way to look at it, houses are selling like the proverbial hotcakes in Countryside and a buyer who wants to live in the community should not be take too much time mulling the decision to make an offer.  After taking time to find the right house, once you have found it, do not hesitate or someone else will get the house.

The average price of houses listed in Countryside is $329,400.  The average price of houses that sold in Countryside in the last 90 days is $258,661.  The apparent disparity could be because there are two homes listed for sale that are luxury homes, priced at $750,000 and $699,900.  These homes are very large, with 4,258 sq. ft. and 5,378 sq. ft. respectively.  The highest sold properties in this Clearwater community in the last 90 days sold for $525,000 and $395,000 and these homes have 3,365 sq. ft. and 3,227 sq. ft. respectively.

The Countryside Clearwater real estate market is very healthy indeed.  If you would like to get an idea of the value of houses in Countryside, check out our Sun Bay Associates value estimator.  You don't even have to talk with a Realtor.

5 Things To Do in Palm Harbor

by Doug & Gwen Campbell at Sun Bay Associates

Palm Harbor is a wonderful community in Florida, just a little west of Tampa and north of Clearwater and Dunedin.  The schools are excellent, the location is outstanding and close to beaches, the Tampa airport and several beautiful parks.

Here are 5 things to do in Palm Harbor, and they are just the tip of the iceberg.  They are in no particular order.

Wall Springs Park. This park has nature walks, an observation tower to walk up and look out onto St. Joseph's Sound, playground for the kids, several fishing piers for your enjoyment, public restrooms and plenty of parking.  The Pinellas Bike Trail goes right by Wall Springs Park so riding to the park is easy.

Innisbrook Golf Club.  Innisbrook is home to a PGA tour event every year.  The clubhouse and course are excellent and the rates for the summer season are really good.  This is a true test of your golfing skills, and is a stunningly beautiful course.

Suncoast Primate Sanctuary.  This is home to former movie and retired zoo apes, mostly chimps.  Ride by the Sanctuary on the Pinellas Trail, or drive to it and then walk through to see the wonderful things the Suncoast Primate Sanctuary does for these beautiful animals.  Learn about the lives of these creatures.

Sun West Cyclery.  This is a great bicycle shop where you can rent bicycles to take a trip on the Pinellas Trail.  You can even rent a recumbent bike for those who want to lie down while getting their biking exercise.  Of course you can purchase a bike here too.

The YMCA.  The north Pinellas chapter of the YMCA is in Palm Harbor.  There are lots of activities for kids and the entire family.

Palm Harbor also has tons of other things to do, so keep coming back to see what is next.  We'll talk about the schools, restaurants and other exciting things to do in Palm Harbor as time goes by.

If you would like to learn about home values in Palm Harbor, check out our home valuation link for any house that interests you.

This is a map of Baywood Village, one of the waterfront communities within Palm Harbor. Click on it to see what real estate is available in Palm Harbor.

Some of Our Recent Sales

by Doug & Gwen Campbell at Sun Bay Associates

Here is a humorous look (at least a little) of some of the properties we've sold in the last year.  Enjoy it in the spirit of good fun!!  And if you know someone who is thinking of selling a home, please remember us.

 

Houses Sold by Sun Bay Associates

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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 S
Palm Harbor FL 34684
Doug's Cell 727-741-4189
Gwen's Cell 727-741-7260
Fax: 888-447-7908