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Price it Right or Don't Sell It

by Doug & Gwen Campbell at Sun Bay Associates

In today's market, more than in the past ten years, price is the single most important part of getting a house sold.  In the past, if the realtor and owner did not price it right, and with a rising market, the market could catch up to an overpriced listing.  In today's market, if a house is priced above market value, and with a declining real estate market, it is sort of like trying to catch a ball that is rolling downhill and has a headstart.  You simply end up chasing the market all the way to the bottom.  When a house is priced correctly, it will get offers.  When the offer comes in, it is up to the realtor and the owner to determine if it is a good offer at or close to market value, or if it might be an investor hoping to pick up a real bargain.  If the offer is at or near market value, the seller would be wise to accept it, or at least make a legitimate counter-offer.  Failing that, a good buyer will simply move on to the next opportunity because in this declining real estate market, there is no shortage of good opportunities.

Here are a couple of examples.  In an executive community in Palm Harbor, FL there are only two houses listed for sale, both are very nice homes that the owners appear to have overpriced relative to what the market is willing to pay.  One is listed for $409,000 and has been on the market for 336 days.  The other is about the same size only without a pool, is prices at $329,900 and has been on the market for 279 days.  It would appear that the real estate marketplace is saying, loud and clear, that both of these houses are overpriced for today's market.

In another community in Oldsmar, FL, there are three houses listed for sale, one under contract and two sales in the last 60 days.  The average price per square foot of the sold houses was $110.  The average price per square foot for the houses listed for sale is $121.  These houses are also executive quality homes.  Although the three houses listed for sale have been on the market for 90 days or less, the indications are that the prices for them is above market value.  If they are not generating offers, the prices are too high.  The average price for the sold houses in this community is $242,500.  The average list price for the houses listed for sale is $297,633.  A $55,000 difference is another clue that the listed houses are higher than the real estate market value for this community. 

If you would like to get a feel for the market value of your home, click on the photo of deer in the community of Bay Arbor, FL and then visit the Market Snapshot on the right side of the page.

Deer in Bay Arbor, FL

An example of what can happen when a good house is priced correctly is this.  We listed a short sale, in very good condition, at the lower end of the real estate market value yet still within the market value range.  Within a weekend, there were four competing offers and the seller accepted an offer 8% ABOVE the list price.  Considering it is a short sale, and selling it so quickly for more than the list price, the seller is very happy.  Of course the caveat here is that the bank needs to understand it is a good offer too.  Had the seller listed this property at the high end of the market value, it very likely would linger on the market with few if any offers, and the offers might well be far below market value.

When a seller gets an offer from a buyer that is "not what I need to get", and refuses that offer, the seller is effectively buying their home and beating out the competition.  If a seller has had 5 offers, and declined all of them, that seller has simply repurchased his house 5 times over and is sitting on the sidelines while the real estate market is continuing to drop.

The message is, do not overprice you house or you will end up either sitting on a white elephant (as far as the real estate marketplace is concerned) or when you eventually do sell the house, you will net much less than you would have had the price been correct in the first place.

Bay Arbor, Oldsmar

by Doug & Gwen Campbell at Sun Bay Associates
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Bay Arbor, Oldsmar (edit/delete)

Bay Arbor, Oldsmar, FL is a gated community with conservation areas, a community pool, community volleyball court and a terrific central location that puts you only 20 minutes from the Tampa International Airport.  You are also close to the world famous Clearwater beaches, including Honeymoon Island and Caladesi Island, which are consistently listed among the top beaches in the country.  Bay Arbor, Oldsmar has several ponds in and around the conservation areas and it is not at all unusual to see deer in midday. 

For specific informaton on Bay Arbor, Oldsmar, visit Sun Bay Associates free Market Snapshot.  From here you can build a real estate search for specific neighborhoods.  Create a real estate search for your own neighborhood, or for Bay Arbor, Oldsmar or any other neighborhood you want to learn more about.

For the last 30 day reporting period, there are 4 houses listed for sale, with one of these coming on the market in the last week.  None of these are short sales or foreclosures so the purchasing process can proceed without unnecessary delay.  The list price range for these houses for sale in Bay Arbor, Oldsmar is from $249,900 to $284,900 and the average list price is $264,199.  The average days on market for these homes is 133.

There are 3 houses currently listed as under contract in Bay Arbor, Oldsmar.  The prices range from $224,900 to $289,500.  Of these three houses in Bay Arbor, Oldsmar, one is a foreclosure.  It is 1,708 square feet, with a pool and two car garage.  The list price for this distressed property is $239,900.  The list price per square foot is $140.

The other two homes in Bay Arbor, Oldsmar are larger, one with 2,171 square feet and the other with 2,034 square feet.  Both of them are pool homes, have 3 bedrooms and 2 car garages.

Come, look at Bay Arbor, Oldsmar and get ready to move in for the summer season.  If you would like to create your own personal search for houses in the greater Tampa Bay area, visit Sun Bay Associates FREE home search page and build your unique real estate search.  There is no cost or obligation and it just might be fun!

Happy House Hunting!!

Deer in Bay Arbor, Oldsmar

Bay Arbor, Oldsmar a 30 Day Real Estate Update

by Doug & Gwen Campbell at Sun Bay Associates

Bay Arbor, Oldsmar is in the heart of lots of activity.  There are conservation areas, with lots of wildlife, including deer, roaming through the neighborhood, nearby restaurants, the Tampa airport is only 20 minutes away, the wonderful beaches of Clearwater Beach are a short drive, and there is golf all over the area.

For the last 30 days, there are 7 houses listed for sale in Bay Arbor, Oldsmar.The prices range from $224,900 to $299,000 and the days on market range from 9 to 451.  The largest house listed is 2,240 square feet and is listed for $299,000, or $133 per square foot.  Two other houses, that are smaller, are listed for higher prices per square foot.

Only one house is under contract for this last 30 day update, and it is a distressed property, bank owned.  It is a 1,708 square foot house, listed for $239,900 and has 160 days on market.  The list price is for $140 per square foot.

One house sold in Bay Arbor in the last 30 days.  404 Wingate Circle, listed for $240,000 and sold for $237,000 after only 35 days on market.  It was not a distressed property.

If you would like to search the greater Tampa Bay area real estate, visit Sun Bay Associates' FREE home search and build you own unique real estate property search.

Happy House Hunting.

Bay Arbor, Oldsmar, FL - a 30 Day Real Estate Update

by Doug & Gwen Campbell at Sun Bay Associates

This 30 day real estate update is for Bay Arbor, Oldsmar, FL.  There are currenty 7 properties listed for sale in Bay Arbor, Oldsmar.  Of these, one is new in the last 30 days. 

382 Ventura Dr., Oldsmar is listed for $284,900 and has a pool, 1,708 square feet and a 2 car garage.

Of the active listings in Bay Arbor, the list prices range from $249,900 to $299,000 and the days on market range from 14 to 423.  One house, at 324 Bay Arbor Blvd. is a distressed property, bank owned.  It is listed for $254,900 and as 139 days on market.

The largest house listed in Bay Arbor is listed for $299,000, is a 2,240 square foot home with 3 bedrooms, 2 and 1/2 baths and a three car garage.

There is one house under contract in Bay Arbor.

404 Wingate Circle, Oldsmar, listed for $240,000 after only 35 days on market.  This is a 2,053 square foot house with a 2 car garage, 3 bedrooms and 2 baths.  It is not a distressed property.

One house sold in Bay Arbor in the last 30 days.

400 Ventura Dr., listed for $280,000 and sold for $280,000k after 146 days on market.  This house was a distressed property, short sale.

For specific information on a neighborhood you may have interest in, visit Sun Bay Associates' Market Snapshot page for real time real estate information in that neighborhood.  If your preference is to design a real estate search for the greater Tampa Bay area, visit Sun Bay Associates' FREE home search site and create your own unique real estate search.

If your are interested in distressed property, or just curious, visit Sun Bay Associates' distressed property site for current and FREE information on distressed property, short sales and foreclosures.

Happy House Hunting!!

Bay Arbor, Oldsmar 30 day update

by Doug & Gwen Campbell at Sun Bay Associates

Welcome to today's 30 day update on real estate activity in Bay Arbor, Oldsmar.  There are currently 6 homes on the market, ranging in price from $240,000 to $299,000.  None of these homes are distressed properties!  Bay Arbor also has a very well maintained community pool so you can also avoid the issues of trying to maintain your own private pool, if that works for you.

There was one home sold in Bay Arbor and it was a distressed short sale property.

270 Timberland Ct., listed for $350,000 and sold for $275,770 after only 18 days on market.  This distressed property has 2507 square feet and is a three car garage. 

To follow real estate activity in Bay Arbor, click on Sun Bay Associates link to Bay Arbor and check back as you like to find what real estate activity is going on in Bay Arbor in real time.

If you are interested in seeing what the real estate activity is for your specific neighborhood, visit Sun Bay Associates Market Snapshot.  To create your own, unique real estate search, visit Sun Bay Associates FREE home search and build exactly the search you want for the Tampa Bay area.

New Listing in Bay Arbor

by Doug & Gwen Campbell at Sun Bay Associates

Here is a new listing in Bay Arbor.  It is the largest home on the market and is NOT distressed property!  Take a look and if you have any questions, let us know.

213 Arbor Woods Circle, Oldsmar, Florida

Price: $299,000.00

Beds: 3

Full Baths: 2

Partial Baths: 1

Sq Ft: 2240

Description: The house of your dreams is waiting for you. This meticulously maintained & quality designed 2240 sq. ft. 2 story home has 3 bedrooms plus a dramatic loft overlooking the 2 story foyer, 2.5 baths, ....

View this property >>

Bay Arbor, Oldsmar, FL

by Doug & Gwen Campbell at Sun Bay Associates

Bay Arbor in Oldsmar, FL is a wonderful gated community that offers a community pool and bathhouse, paver brick driveways, and several homes are on conservation lots.  Seeing deer is not at all uncommon.  This is a treat when one considers the location of this charming and highly desirable neighborhood.  Only 20 minutes from the Tampa Airport, centrally located for many restaurants, great fishing, and excellent shopping, Bay Arbor is one of the most desirable neighborhoods in Oldsmar.  Upper Tampa Bay offers some of the very best areas to catch redfish in the entire state of Florida and Oldsmar is right there on Upper Tampa Bay. 

As evidence of the desirability of Bay Arbor, when houses are priced correctly, their days on market are low. 

At present, there are 2 houses listed as active in the MLS, 1 house is a pending sale and in the last 90 days 1 house has sold.  In the previous 3 month period, an additional 5 houses were sold.

Of the 2 active listings, 344 Ventura Drive is listed for $270,000; 341 Kaley Ct. is listed for $259,000.

The pending sale is 270 Timberland Ct., listed for $350,000.

The 2 most recent sales were 244 Arbor Woods Circle, listed at $199,000 and sold for $210,000 after only 20 days on market.  This house was a short sale.  The other recent sale was 200 Orchard Grove Place, listed for $289,000 and sold for $284,900 after only 12 days on the market.  This was not a distressed sale.

Houses that sold in the previous 90 day period:  366 Rosalind Lane, listed at $249,000 and sold for $260,000.  This was a foreclosed property and was had only 12 days on market:  345 Bay Arbor Blvd., listed at $254,900 and sold for $235,000 with only 34 days on market: 368 Ventura Drive, listed at $259,000 and sold for $235,000 with only 27 days on market: and 386 Wingate Circle, listed at $269,900 and sold for $255,000 with only 6 days on market.

As you can see, houses in Bay Arbor, Oldsmar, sell very quickly - a testament to the great location and desirability of this neighborhood.  So come find a great home, go shopping and grab your waders or kayak for some terrific redfish action.

To learn more about hte values of real estate in your neighborhood, to to Sun Bay Associates website home page and select the Market Snapshot button.  If you would like to simply search for houses in the area, click here on our Sun Bay Associates FREE home search and you can design your own real estate search. 

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.

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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