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Do You Really Want a Deal in Real Estate??

by Doug & Gwen Campbell at Sun Bay Associates

Where are the best deals in real estate in Pinellas County these days??  Are they in foreclosures, short sales or the traditional sales?  The answer may just surprise you.  Of course that depends on what your definition of a "deal" is.  Is deal the best value for the money?  If yes, then the best deal will surprise you.  Click here to find the best opportunities for foreclosures and short sales in the greater Clearwater area.

Traditional real estate transactions are apparently the best deals in today's market.  According to the Pinellas Realtors Organization statistics, foreclosures, for the month of September, sold at 101% of the list price.  There is only a 2.8 month inventory of foreclosures available.  The average days to close for foreclosures is 97 days, with 40 days from contract to closing.

Short sales are in a similar situation.  There currently is a 3.2 month supply of short sale houses in the Pinellas real estate and they are selling at 98% of the list price.  The average is 263 days to close short sales, with 134 days from contract to closing.

For traditional, or non-distressed houses, there is a 4.8 month supply of houses for sale.  And they are selling at 95% of the list price.  The average days to close for these sale is 111 days, with 38 days from contract to closing.

Many foreclosures are in need of considerable repair, updating or remodeling.  Short sales often need repairs, and there is far too much uncertainty in the process that the bank might come back just before closing with a higher dollar amount or there will be no sale.

In today's Pinellas real estate market, the non-distressed house offers less volatility, and more certainty as well as a good value for the buyer.  So click here to find non-distressed houses in the greater Clearwater area.  And happy house hunting.

Indian Trails, Palm Harbor - a 30 Day Real Estate Update

by Doug & Gwen Campbell at Sun Bay Associates

Indian Trails is a wonderful community in Palm Harbor with a lifestyle that is relaxed yet convenient to many amenities like excellent restaurants, great schools, shopping, public parks and the superior beaches of Pinellas County, such as Clearwater Beach, Honeymoon Island and Caladesi Island, to name just a very few.

Real estate sales activity in Indian Trails in the past month has been busy.  There are four houses listed for sale in this highly desirable Palm Harbor neighborhood.  Two are distressed property with one a bank owned house and the other is a short sale.  The list price ranges from $210,000 to $350,000 and the average list price is $276,225.  All are pool homes.  With a little TLC the bank owned home represents a terrific bargain to get into such a wonderful neighborhood.  The days on market range from 5 to 35, so all are really new to the real estate marketplace.

There are two houses under contract in Indian Trails.  Both are distressed property, short sales.  One is a pool home listed for $240,500 and is a pool home.  It has 129 days on market.  The other short sale is listed for $227,000 with only 5 days on market.  It is not a pool home, however is a home with over 3,100 square feet, 4 bedrooms and 2 and a half baths.  This is a great example of correctly pricing the home and it going under contract quickly.

For this last 30 day reporting period, one house in Indian Trails sold.  It was listed for $189,900 and sold for $190,000.  It is a pool home and was a distressed property, bank owned house.  This house, at 2437 Seneca Ct. was only on the market for 42 days before it went under contract.

For specific information on this or any neighborhood you are interested in, visit Sun Bay Associates Market Snapshot link and get up to the minute real estate sales activity, including active listings, recent sales and other pertinent information such as nearby schools, restaurants, churches, shopping and much more.

Happy House Hunting!!

East Lake Woodlands, Oldsmar - a 30 Day Real Estate Update

by Doug & Gwen Campbell at Sun Bay Associates

East Lake Woodlands is a great area with tree lined streets, park like settings, golf course and a mix of condos, villas, townhomes and single family homes.

For this 30 day period, there are currently 33 condos listed for sale in East Lake Woodlands, Oldsmar.  The prices range from $49,900 to $129,900 and the days on market range is from 3 to 547 days.  The average list price for the condos in East Lake Woodlands is $86,520 and the average days on market is 150.

There are 6 condos under contract in East Lake Woodlands, with list prices rangeing from $59,900 to $79,900 and the range for days on market is 8 to 175 days.

One condo sold in the last 30 days.  It was listed for $47,838 and sold for the list price after only 6 days on market.

Currently, there are 10 villas listed for sale in East Lake Woodlands.  The list prices range from $84,00 to $164,900 and the average list price is $114,750.  The days on market range from 7 to 228 and the average days on market of the listed villas is 110.

One villa is under contract for this 30 day reporting period.  Is is listed for $110,000, is a distressed property short sale.  It has 182 days on market.

Three villas sold in East Lake Woodlands this month.  The list prices range from $114,900 to $125,000 and the average sold price is $117,667.  The average days on market for villas to sell was 76 days.

There are currently 5 townhomes listed for sale in East Lake Woodlands, with prices ranging from $80,000 to $185,900.  The highest price townhome has 397 days on market.

There are 9 single family homes for sale in East Lake Woodlands.  The list prices range from $119,900 to $449,900 and the average list price is $249,233.  The range for days on market is 19 to 315 and the average is 169.  Of these 9 houses, four are distressed property.  One is a bank owned house with only 19 days on market and lists for $209,900.  The other three distressed properties in East Lake Woodlands for sale are short sales. 

The average list price for siingle family homes is $249,233 and the average days on market is 169.

Click on the castle to find other homes in the greater Tampa Bay area, by using Sun Bay Associates' FREE IDX home search feature.  Build you own custom real estate search.

There are two houses under contract.  One is a distressed property and is a short sale.  It is listed for $215,000 and has 456 days on market.

The other distressed property has 2,840 square feet, a pool and 2 car garage.  It is a bank owned distresssed property and is listed for $299,000 with 124 days on market.

Happy House Hunting!!

Westlake Village , Palm Harbor - a 30 Day Real Estate Update

by Doug & Gwen Campbell at Sun Bay Associates

Today's 30 day real estate market update is for Westlake Village, Palm Harbor.  This is a charming neighborhood, with tree lined streets and park like setting, close to the Pinellas bike trail and of course near to many of Florida's best beaches, including Honeymoon Island and Caladesi Island state parks, just a short drive away.  Or even a pleasant bike ride for the more adventurous of us.

For the last 30 days, there are 7 houses listed for sale, with list prices ranging from $185,000 to $298,000 and the average list price is $256,486.  The days on market range from 15 to 168 and the average days on market is 98.  Of the seven houses actively for sale in Westlake Village, only one is a distressed property, a short sale and is termed a fixer upper.  This is a great opportunity for an investor to buy in Westlake Village, Palm Harbor and with a little elbow grease, and yes, some cash, renovate this house, with over 2,000 square feet and get in to this very nice neighborhood.

For this 30 day period, there are currently 5 houses under contract.  All five of them are distressed property, four are short sales and one is a bank owned house.  The list prices for these houses range from $169,900 to $225,000 with the average list price for these houses under contract being $199,950 and the days on market range is from 0 to 215, with the average days on market at 79. 

One house sold in this 30 day period, listed for $239,000 and sold for $237,500 after 118 days on market.  This is a beautiful home on .4 acres, a totally remodeled kitchen with custom cabinets and granite countertops, a true showplace home.  This home was NOT a distressed property.

As you can see, the average list price for the 7 houses still for sale, on average with 98 days on market, is just over $256,000.  The average price for the 5 houses under contract, on average with 79 days on market, is $199,950.  This is more than a $50,000 difference between what people want to get for their homes and what the current market demand is saying homes in the community are worth.  Granted, the houses under contract are distressed property, however, not the owners are still living in three of them and maintaining them.  This is a fact of life in real estate at the present, and owners need to take the number of distressed property in their areas into consideratioin when putting a price on their home.

Competing against a distressed property, especially a bank owned house, can be disheartening for a homeowner.  A key point to remember is that even though a bank owned house may sell for 75% below market value, it may cost more to renovate it and make the house comfortable to live in than buying the "normal" house just up the block that is listed for more money, yet has far fewer issues for an owner to repair before moving in.

For information on the real estate sales in a specific neighborhood, visit Sun Bay Associates' Market Snapshot for real time data on real estate sales.

To learn more about the greater Tampa Bay real estate sales market, visit Sun Bay Associates' FREE home search and create your own unique real estate search.

If you know someone who may be behind on their mortgage and need somewhere to start finding answers, have them visit Sun Bay Associates' Distressed Property site for free reports and concise explanations for short sales, foreclosures, deed in lieu of foreclosure and much more.  Just click on the logo below.

Investor Alert, Dunedin Isles 30 Day Real Estate Update

by Doug & Gwen Campbell at Sun Bay Associates

Investor Alert!! Here is today's 30 day real estate update for Dunedin Isles, Dunedin, FL.  There are a good number of opportunities for investors to capitalize on in today's real estate sales market with quality houses in the highly desirable Dunedin area.

For the latest 30 day period, there are 25 properties listed for sale in Dunedin Isles.  Of these, 2 are bank owned, or REO distressed property.  There are six distressed property short sales.  With the pressure on sales from distressed property, the list prices of houses that are not distressed are being held down by the distressed property listings.  This is an interesting scenario in this area for the investor to purchase potentially excellent investment properties.

The average list price of the listed houses is $400,272, with three houses at or above $1,000,000 and none of the three are distressed.  The prices drop from there to the next lowest list price of $499,999 and $450,000 then down to $257,000.  The list price range is from $3,995,000 to $52,500.  The average list price for the 25 houses for sale is $400,272.  The range for days on market is from 22 to 482, and the average days on market is 153.

There are 6 houses under contract in Dunedin Isles for this 30 day period.  Of these 6, 5 are distressed property.  One is an REO, or bank owned property.  The other 4 distressed properties are short sales.  The list price range for these under contract houses is $69,040 to $375,000 and the range for days on market is 9 to 60.

For this 30 day period, the real estate sales reflected only one closed transaction.

322 Rowena Ln., Dunedin, listed for $99,000 and sold for $92,250 after only 21 days on market.  This is a 1,104 square foot house with 3 bedrooms and a one car garage.

For sellers interested in information on distressed property, visit Sun Bay Associates' distressed property site for information on short sales, foreclosures, deed in lieu and other distressed property issues.  All this information is free with no obligation.

To get information on a specific neighborhood, visit Sun Bay Associates' Market Snapshot and get real time real estate sales information on the neighborhood of your choice.

To get information on real estate sales in the greater Tampa Bay area, visit Sun Bay Associates' FREE home search and create your own unique real estate search for the perfecthome or investment vehicle.

Happy House Hunting!!

Cobbs Landing, Palm Harbor - a 30 Day Real Estate Update and Investor Alert

by Doug & Gwen Campbell at Sun Bay Associates

Today's 30 day real estate sales update is for Cobbs Landing, Palm Harbor.  This is a community that the prudent investor might want to look at.  Currently there are 17 properties listed for sale in Cobbs Landing, seven of these are distressed property.  Three of the distressed property listings are bank owned, or REO and four of the distressed property listings are short sales.  The REO or bank owned property very often sell for below market prices, sometimes as little as 75% of the actual market value.  Two of the REO properties are condos and one is a single family home that is nearly 3,500 square feet, with a pool and 2 car garage, listed for less than $300,000.  This is truly a house an investor should consider, since it is listed for $35 a square foot less than what the latest sold houses went for in Cobbs Landing, in Palm Harbor. 

The average list price for condos at Bentley at Cobbs Landing is $115,500 and the average days on market is 83.  The average list price for the single family homes in Cobbs Landing, including the Groves, Estates at Cobbs Landing, Pinnacle an Sanctuary, is $383,185 and the average days on market is 218.

For this 30 day period, there are 8 properties under contract, and four of these are distressed property short sales.  The average list price for the two condos is $84,888.  One, listed for $89 per square foot had 388 days on market.  The second condo, listed for $59 per square foot had only 34 days on market.

Six single family homes went under contract in Cobbs Landing, Palm Harbor in the last 30 days, with an average list price per square foot of $115.50 and an average days on market of 100.

Two houses sold in the last 30 days in Cobbs Landing.  Neither one was a distressed property.

2995 Windridge Dr., listed for $299,000 and sold for $280,000 after only 68 days on market.  This is a 2,480 square foot home, with a pool, 2 car garage and 4 bedrooms.

3499 Woodridge Parkway listed for $375,000 and sold for $362,500 with zero days on market.  This is a 2,773 square foot home, with a pool and 5 bedrooms.

For information on a specific neighborhood, such as Bentley at Cobbs Landing, visit Sun Bay Associates' Market Snapshot and get real time data on real estate sales in the neighborhood of your choice.  For information on real estates sales in the greater Tampa Bay area, visit Sun Bay Associates' FREE home search, create your own unique search and find the perfect home.

If you are looking for information on distressed property, especially if you know someone who is behind on the mortgage and needs to gather information, visit Sun Bay Associates' distressed property site and get free reports that will help explain the difference between short sales, foreclosure, bank owned and REO property, deed in lieu of foreclosure and more.

Wentworth Estates, Tarpon Springs, The Neighborhood Scoop

by Doug & Gwen Campbell at Sun Bay Associates

The Neighborhood Scoop today is about Wentworth Estates in Tarpon Springs.  This gated community is a premier luxury community with private golf membership and the finest custom built homes in Tarpon Springs.  These luxury homes are designed and built by the best builders in the Tampa Bay area, loaded with features you would expect in a luxury home.  Plus, the Wentworth golf course is an excellent venue and a challenge for all golf skill levels.

The Wentworth golf course, possibly the finest in Florida, offers Scottish links style golf on the back nine and the front nine takes you through a peaceful yet challenging series of holes surrounded by cypress trees, towering pines and beautiful oaks.

The homes in Wentworth are on large lots, are between 3,500 to over 7,000 square feet, have tile roofs, and luxury features including upgraded and beautiful kitchens, huge living areas, pavered drives and walkways, all with stunning curb appeal.

Wentworth Estates in Tarpon Springs offers the feeling of private country living while being close to the Sponge Docks of Tarpon Springs with its shops, the Anclote River, and outstanding restaurants and bakeries.  And Old Palm Harbor with its quaint downtown area of shopping, coffee shops, restaurants and frequent street festivals is a short drive away for a delightful change of pace.

As for real estate activity, there are 13 homes currently listed for sale, ranging from $459,900 to $1,995,500 with an average days on market of 192.  These homes range in size from 3,723 to 8,029 square feet and all have a minimum of 4 bedrooms with 3 car garages.  Four of the 13 listings are posted as short sales.

There is one home listed as active with contract.  The list price is $489,000 and has 507 days on market.  This is a short sale.

In the last 90 days, there have been three homes sold in Wentworth.

2967 Wentworth Way, listed for $499,900 and sold for $490,000 after on 51 days on market.

2901 Kensington Trace, listed for $550,000 and sold for $525,000 after 521 days on market.  This was a short sale.

651 Richmond Close, listed for $599,900 and sold for $550,000 after only 20 days on market.  This 4200+ square foot home was also a short sale.

For information on the real estate market in your neighborhood, vist Sun Bay Associates Market Snapshot to see in real time what is for sale and what is selling around you.  If you prefer to develop a more general real estate search, visit Sun Bay Associates FREE home search and design your own unique real estate search.

Happy Home Hunting!!

Cobbs Landing, Palm Harbor

by Doug & Gwen Campbell at Sun Bay Associates

Cobbs Landing in Palm Harbor is a prestigious neighborhood made of several upscale communities.  Cobbs Landing has a marina, tennis courts, a private waterfront park at Lake Tarpon and a strong family environment.  There are lots of activities available, including boating on Lake Tarpon, neighborhood functions, and much more to keep everyone involved.

The real estate market in Cobbs Landing is very healthy.  There are currently seven condos listed as active and range in price from $89,000 to $179,000.  There are eleven single family residences active listings in Cobbs Landing, ranging in price from $194,900 for a home with 2087 square feet up to $639,000 for a 3325 square foot home.  The average days on market for all these properties is 100.

There are 6 homes listed as active with contract, 2 condos and 4 single family residences.  Of these six homes, 5 are short sales.

There are currently 3 homes listed as pending contracts.  Of these three, 2 are bank owned propertiess.

Finally, in the last 90 days, there have been 9 homes sold.  Of these 9 sales, two, both condos, were bank owned.  Three other condos have been sold in Bentley at Cobbs Landing, and all three were short sales.  There also were four single family homes sold in the community:

2654 Oleander Ct., Cobbs Ridge, listed at $259,900 and sold for $247,000 after only 6 days on market.

2965 Regal Oaks Blvd, in the Groves at Cobbs Landing, listed at $289,000 and sold for $260,000 after only 38 days on market.

3561 Shoreline, in the Sanctuary listed at $450,000 and sold for $450,000 after 78 days on market.  This home was a short sale.

3545 Shoreline Circle, also in the Sanctuary, listed at $525,000 and sold for $505,000 after 163 days on market.  This is a 5 bedroom, 4 bath house with 4124 square feet.

If you would like to know what is happening to real estate values in your neighborhood, visit our Sun Bay Associates home page and click on the Market Snapshot.  Or if you prefer to build your own real estate home search, visit our Sun Bay Associates Free Home Search and create your own real estate search for the perfect home.

Foreclosure is Avoidable with HAFA

by Doug & Gwen Campbell at Sun Bay Associates

The latest government initiative to combat the millions of foreclosures across the country is called the Home Affordable Foreclosure Alternatives Program, or HAFA.

HAFA is the program put in place to benefit homeowners who do not qualify for HAMP, or Home Affordable Mortgage Program.  HAFA was released in April of 2010 and is designed to expedite the foreclosure avoidance options for homeowners in need. HAFA, using the short sale process, can potentially save millions of homeowners the financial devastation of a foreclosure.  Since the statistics tell us that 1 in 7 homes are in default, right in your neighborhood there are people who need help with avoiding foreclosure.  A short sale process is simply selling a property for less than the mortgage amount due in order to avoid foreclosure.

Here is how someone can qualify for the HAFA Program.

They must:

1. Be delinquent on the mortgage or face imminent risk of default

2. Occupy the property as the primary residence

3. Have a mortgage that  originated on or before January 1, 2009

4. Have an unpaid principle balance no greater than $729,750 for a one unit property; AND

5. Have total monthly mortgage payments exceeding 31 percent of the gross income.

The HAFA short sale process is the primary solution to avoid foreclosure, salvage one’s credit score and move on with dignity through the process.  The following link shows lenders currently participating in HAFA: 

http://www.makinghomeaffordable.gov/contact_servicer.html

If you know anyone who is in need of expert guidance to navigate the short sale process, be sure they contact someone who is an expert, such as a Certified Distressed Property Expert, or CDPE.

 

HAFA Explained - Simply

by Doug & Gwen Campbell at Sun Bay Associates

Does HAFA make sense to you?  You're not alone.  Watch this 2 minute video for a very clear and simple to understand explanation of HAFA and loan modifications.

http://www.youtube.com/watch?v=8TXx8rKy-Ow

Now, wasn't that better than reading pages of verbiage that just put you to sleep?  We can help, contact us.  We are Certified Distressed Property Experts, or CDPE, and know how to help you through a trying experience.

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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