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Dunedin Isles, Dunedin, FLorida

by Doug & Gwen Campbell at Sun Bay Associates

Dunedin Isles, in Dunedin, Florida, is a quaint waterfront community with parks, the Pinellas Bike Trail and quiet tree lined streets.  The homes average about 1250 square feet.  A great benefit to living in Dunedin Isles is that almost every home is just a short walk to downtown Dunedin with all its shops, restaurants and festivities including boat parades, wine tastings, Mardi Gras parade, Old Fashioned Christmas and much, much more.

There are many affordable homes in Dunedin Isles, especially for those looking for waterfront homes or something very close to the waterfront.  As of Nov. 10, there are 22 homes listed as active for sale with an average days on market of 113.

There are three houses listed as active with contract:

1675 San Mateo Dr., listed at $75,000 with only 10 days on market.  This house is a short sale.

2016 Culbertson Ave. is listed at $126,000 and went under contract after only 16 days on market.

152 N Buena Vista Dr., is truly a waterfront home, is listed at $484,000 and was under contract after 105 days on market.

Real estate that is listed as pending sales include 4 properties:

1744 Santa Anna Dr., listed at $49,900, a bank owned property that was 140 days on market.

1503 San Mateo Dr., listed at $64,000, also a bank owned property that was only 37 days on market.

1726 Bayshore Blvd., listed at $79,000, a short sale, went under contract after only 29 days on market.

934 Bulf View Blvd., listed at $124,900, also a short sale, went under contract after only 11 days on market.

The sold real estate in Dunedin Isles has been moving quickly also.  In the past 90 days, 9 homes have sold in Dunedin Isles, including:

1429 San Mateo Dr., listed at $65,000 and sold for $58,500 with 0, yes, 0, days on market.  This was a short sale.

1305 Davis Rd., listed at $77,000 and sold for $65,000 after 161 days on market.  This is a repaired sinkhole home.

1757 Bayshore Blvd., listed at $96,000 and sold for $83,000 after only 14 days on market.

651 San Salvador Dr., listed at $116,000 sold for $113,500 after only 12 days on market.

1540 San Roy Dr., listed at $124,900 and sold for $118,000 after only 33 days on market.

1855 Douglas Ave., listed at $150,000 and sold for $142,000 after 154 days on market.  This was a short sale.

1675 Paloma Lane, listed at $175,000 and sold for $155,000 after 186 days on market.

327 Rowena Lane, listed at $179,900 and sold for $165,000 after 123 days on market.

1837 San Mateo Dr., listed at $185,000 and sold for $175,000 after 49 days on market.  This is a pool home.

Based on the real estates sales in Dunedin Isles, sellers are pricing their homes right and buyers are finding this unique waterfront neighborhood, which is one of the best kept secrets on Florida's west coast.

If you would like to find out about prices in your neighborhood, visit Sun Bay Associates home page and select the Market Snapshop.  If you are interested in doing your own search for homes in the greater Tampa Bay, Florida area, visit Sun Bay Associates FREE home search and design your own search.

Happy hunting!!

 

Fairway Estates in Dunedin, FL

by Doug & Gwen Campbell at Sun Bay Associates

Fairway Estates in Dunedin, Florida is a prestigious community that is a short golf cart ride to the Dunedin Country Club golf course.  Most of the homes are about 2,000 square feet and many have been updated to current standards.  The community is very close to the Pinellas Trail for bicycle riding or a peaceful walk away from car traffic.  The nationally famous beaches of Honeymoon Island and Caladesi Island are just a quick trip away for a day of fun in the sun or for some of the best fishing in Florida.

Currently, there are 12 active lisitngs in Fairway Estates, 2 homes are under contract and in the last 90 days 5 houses have sold.  Of the houses actively for sale, the average list price is $264,200, the average size is 2,091 square feet and the average days on market is 124.

The highest price for a sold home in Fairway Estates in the last 90 days was $275,000 after 222 days on market.  It was the largest of the houses sold, 2400+ square feet, has a pool, 4 bedrooms and was updated.  The other houses sold were had a range of 9 to 34 days on market.

If you would like to learn more about housing prices in your neighborhood, visit Sun Bay Associates website and click on the Market Snap Shot for your specific target area.  If you would like to do a more general search for houses for sale in the Tampa Bay area, visit Sun Bay Associates FREE home search and set your own criteria.

 

 

July Foreclosures in Florida

by Doug & Gwen Campbell at Sun Bay Associates

Florida has the "distinction" of being the number 2 state in the nation for foreclosures.  California is first, with 92,318 and Florida is second, with 54,940, according to RealtyTrac.  Florida's foreclosure activity rate is 1 in 171 houses are in some stage of foreclosure.

Breaking this down a little further, to Pinellas County, where Palm Harbor, Clearwater and Dunedin are, there are 1610 houses in foreclosure, according to RealtyTrac.

If you want to go deeper yet, look at Palm Harbor.  For the three zip codes in Palm Harbor, 34683 has 64 houses in foreclosure, for a rate of 1 in 234:  34684 has 61 houses in foreclosure for a rate of 1 in 234:  and 34685 has 14 houses in foreclosure, for a rate of 1 in 550.

The relatively good news, for Pinellas County foreclosures is that the county is not nearly the worst in Florida.  For instance, Miami-Dade County has 7107 homes in foreclosure, for a rate of 1 in 137:  Broward County has 6471 homes in foreclosure for a rate of 1 in 124:  and Lee County has 3958 homes in foreclosure for a rate of 1 in 92.

To learn more about distressed property and how to possibly avoid foreclosure, click here for free reports on foreclosure and short sales.

 

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.

 

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.

Florida Beats Out California-in Foreclosures

by Doug & Gwen Campbell at Sun Bay Associates

Florida has moved into second place, behind only Nevada, and edging out California.  Unfortunately, it is NOT for something good.

Florida edged out California for the second place in the national foreclosure rate, lagging behind only Nevada in the percentage of home mortgages in default. Florida’s November figure was 7.6 percent higher than November 2008 and 2.0 percent higher than October 2009.  One out of every 165 homes was in some stage of foreclosure proceedings, according to a national report released by RealtyTrac.  Nationally, 306,627 homes, one out of every 447 homes, were in foreclosure, up 18.4 percent from November 2008. But the national rate represented the fourth straight month of national declines. James Saccacio, RealtyTrac chief executive, credited the drop to loan modification efforts and an extension of the federal first-time homebuyer program.  But long-term stability may be more elusive as the industry recovers from its worst slump in decades.  “A full recovery will only come when unemployment recedes to normal, healthy levels and when availability of credit reaches a more rational balance between the extremes of the past few years,” Saccacio said in a statement.  With 52,935 Florida properties receiving foreclosure statements, reversing a two-month trend of fewer defaults than the previous month.  Two Florida cities were among the top 10 metro areas in the nation. Cape Coral/Fort Myers held the 4th spot with one out of every 96 homes in foreclosures while Orlando/Kissimmee ranked 8th with one in every 120 homes in default.

Real Estate Market Stabilized? Or not.

by Doug & Gwen Campbell at Sun Bay Associates

Some people are saying the real estate market has stabilized.  Maybe or maybe not.  Foreclosures are still going up.  In fact, according to RealtyTrac.com, foreclosure filings - default notices, scheduled auctions and bank repossessions - were reported on 937,840 properties in the third quarter, a 5 percent increase from the previous quarter and a 23% increase from the same quarter in 2008!

In September alone there were more than 340,000 foreclosure filings, an increase of 29 percent from September 2008.  James Saccacio, CEO of RealtyTrac, stated that "Bank repossessions, or REOs, jumped 21 percent from the second quarter to the third quarter, corresponding to jumps in defaults and scheduled auctions in the previous two quarters."

The bad news for Florida homeowners is that Florida is still in the top five states for foreclosures.  California, Florida, Arizona, Nevada, Illinois and Michigan accounted for 62% of the entire nation's foreclosure activity in the third quarter.  Florida posted more than 156,000 property foreclosure filings in the third quarter, a jump of 23% from the same quarter in 2008.

Maybe the real estate market is stabilizing in parts of the country, but not all states are created equal.  However, Floridians may consider themselves lucky, because in Detroit, the average home price is around $8,000.  That is not a typo, it is $8,000.  Sales are rebounding, and prices are still declining.  You decide if this is a stabilized reall estate market.

Distressed Property HELP!!

by Doug & Gwen Campbell at Sun Bay Associates

The current market is in such disarray and so may people are in trouble, we decided to post this on the Sun Bay blog.  In today's real estate market, about 1 in 10 people are in some stage of foreclosure, whether it is a late payment, or 2 or 3, or the bank has served papers on them as a precursor to actual foreclosure and auction of their homes.  Or they know someone who is.  According to the St. Petersburg Times, 51% of the homes in the Tampa Bay area have mortgages that are greater than the current value of the home, today, in 2009.  In September, lenders filed 4,586 new foreclosure lawsuits against Tampa Bay homeowners and the banks auctioned or repossessed another 2,100 homes.  This is a familiar story month after month in the Tampa Bay area and many other parts of the country as well.

Because of this, I have earned the credential of Certified Distressed Property Expert and have the knowledge and expertise to help many people who are having these issues.  If you know anyone who is behind on their mortgage, or anticipates being behind, have them go to my website, www.sunbaystopsforeclosure.com, that specializes in educating people about distressed property with up-to-date and accurate information.  There is no cost or obligation to them to check it out.  And if they do decide they need help, there will be no fees.  We will consult with them to help them find the best possible resolution for their distressed property, from a loan modification to short sale and several other avenues to help avoid going to foreclosure.

I want to help, and in many cases I can help. 

A Stabilizing Real Estate Market?!

by Doug & Gwen Campbell at Sun Bay Associates

The Florida real estate market is showing signs of stabilizing.  At least the downward trend is beginning to slow.  In Pinellas County, Florida the number of listings for single family homes decreased slightly and the absorption rate was above 10% for August.  In July, the abosrption rate was 11.8%.  This simply means that if the absorption rate is 10%, if there are 100 homes listed for sale, 10 sold.  The absorption rate is very slowly increasing so that the inventory of homes for sale is slowly decreasing, and in time, this will lead to prices bottoming out and beginning the long, slow climb out of the crevasse.

The median price for a single family home in August, 2009, in Pinellas County, Florida was $142,000, a drop of 19.3% from the previous August.  The sort of good news is that the August price drop was less than the 2009 July price drop, which was 22.2% from July of 2008.  Again, not good news, but this is showing signs of the market beginning to stabilize in the Pinellas County, Florida market.

Thus, with the absorption rate inching its way up, and the median price loss showing signs of slowing, things are beginning to look better.  More goodnews is that the inventory for single family homes for sale in August 2009 was 9.7 months.  This is another sign that the competition of homes for sale, while still extremely competitive, is beginning to start to swing back into the area that sellers can see light at the end of the tunnel.  Of course, that light may yet be 5 years away before prices climb back to what they were two or three years ago, but there is hope.   Is the real estate market stabilizing, well maybe not yet.  There is, though, light at the end of the tunnel.

Unemployment Rises - Real Estate Market Stabilized??

by Doug & Gwen Campbell at Sun Bay Associates

Figures from the US Department of Labor are out on unemployment, and they could be worse. 

In a story on the BBC, Nigel Gault, chief US economist at IHS Global Insight, said that the rise in the jobless rate was not too discouraging.

"The decline last month was too good to be true, really. It's too early for the unemployment rate to be coming down, of course we're still losing jobs," he said.

"What I would take encouragement from is the fact is the trend in the rate of decline in jobs is still improving, that private sector jobs were down 198,000, that's 50,000 better than the previous month and it's almost 200,000 better than the month before that."

The construction industry took the biggest it, losing 65,000 jobs.  Construction and housing sales seem to be linked as new homes can't be built while workers still are getting laid off.

Here in the Tampa Bay area, in Pinellas County, Florida, home sales have not recovered.  The number of homes sold year to date is down about 23% and the average price per home is off almost 8% from last year.  The good news is that the number of homes sold in July 2009 vs July 2008 is up.  The counterbalance to the good news is the sales price for the same period is down by about $10,000.  The numbers below reflect year to date home sales in Pinellas County, FL.  And the silver lining in this dark cloud is that there are lots of bargains for home buyers in the Tampa Bay area.

2009 YTD 5,865 $155,000 
2008 7,622 $167,000 

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Photo of Gwen and  Doug Campbell - The Campbell Team Real Estate
Gwen and Doug Campbell - The Campbell Team
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