Florida’s Condo Sales Rise In September 2010

This came out yesterday:

"Sales of existing condominiums in Florida rose 10 percent in September, with a total of 5,675 condos sold statewide compared to 5,140 units sold in September 2009, according to the latest housing data released by Florida Realtors®."

“Like the rest of the nation, Florida’s housing market is feeling pressure from an uncertain economy,” said 2010 Florida Realtors President Wendell Davis. “Easing foreclosures and increasing job growth would go a long way in stabilizing the market and strengthening the economic recovery. However, current record low mortgage rates along with available and affordable inventory continue to offer a rare opportunity for consumers who are ready to buy a home.”

NAR’s (National Association of Realtors) latest industry outlook calls for a gradual improvement in home sales in upcoming months. “Attractive affordability conditions from very low mortgage interest rates appear to be bringing buyers back to the market,” said NAR Chief Economist Lawrence Yun. “However, the pace of a home sales recovery still depends more on job creation and an accompanying rise in consumer confidence. The housing market is trying to recover on its own power without the homebuyer tax credit.” In September, the interest rate for a 30-year fixed-rate mortgage averaged 4.35 percent, significantly lower than the 5.06 percent average during the same month a year earlier, according to Freddie Mac. Florida Realtors’ sales figures reflect closings, which typically occur 30 to 90 days after sales contracts are written.

© 2010 Florida Realtors®

2010 Stone Crab Season Well On Its Way!

Yes, it is that time again. October is an amazing time here in Tampa Bay. We just got through the Super Boat Races and Clearwater Jazz Festival. Now we get to enjoy the delicacy of these waters that we have waited on all summer!

Stone crabs were a new discovery for us. Having grown up in Georgia, we often went to the Atlantic coast where blue crabs were in abundance. But since discover the lobster-like meat of the stone crabs, we are totally sold. The season is very strictly enforced and runs from October 15th to May 15th. If you find stone crabs outside of that window, they have been pre-frozen and never taste as good as right after they come out of the sea!

Frenchy's, with 4 restaurants in Clearwater Beach, is one of the largest providers of stone crabs to the area and actually offers to ship their claws directly to you at home!!! Their annual Stone Crab Festival is a major draw for the locals and visitors alike... when they offer their medium and jumbo claws for 2 days at wholesale prices. They will have live entertainment along with a festive environment in which to totally enjoy this delicacy... fresh out of the sea!

See you there!

Clearwater Jazz Holiday - A Symphonic Success!

What is so great about continually talking about how great it is to live in Tampa Bay is that we really mean it! We actually take advantage and experience many of the arts, festivals and activities that make this area such a desirable destination. The Clearwater Jazz Holiday brought some of today's most popular and innovative jazz musicians together for a 4 day unique community event FREE to the public.

As we gathered close friends and set off to enjoy good music, food and drink, Coachman Park was a perfect venue right on the shores of Clearwater Bay. We brought in our chairs and found our perfect location to see and hear these amazing artists. We truly enjoyed Dr. John on Thursday and Norman Brown on Friday. Saturday evening, after a performance by Soulive, a dramatic fireworks show was displayed that rivaled some of the most elaborate shows.

However, Sunday evening we were blown away by both Jonathan Fritsen followed by Eric Darius! Such animated performances and talent... all right there for us to enjoy. Eric Darius (photo above) took the saxophone to an entire new level and we left Sunday night totally satisfied that we had experienced something truly special!

Just another weekend in Tampa Bay...

Where Is The Banking Moratorium On Foreclosures Heading???

Just when we get comfortable that efforts are being made to pull the slumping housing market out of the quicksand, reports come in regarding major fraud occurring on the back end of foreclosure transactions... making all of us take note of the impact on a buyer obtaining a clear and free title. Not just small no-name banks, but GMAC, Bank of America, JP Morgan and Chase! Because of the seriousness of this situation, hundreds of thousands of of mortgages will have to be reviewed.

This comes at a time when lenders inundated with short sales are understaffed and ill-equipped to handle the load that they have... much less be prepared to audit all the back end paperwork. It is definitely worth reading the article published by Associated Press real estate writer Michelle Conlin. http://www.floridarealtors.org/NewsAndEvents/article.cfm?id=248699 A freeze has been put on foreclosure proceedings in Florida in light of allegations that the companies did not follow protocol when dispensing with the cases. We will be watching closely to see how the fall out affects our local market.

Foreign Buyers Taking Full Advantage Of Florida "Fire Sale"

We are seeing a strong trend by foreign nationals (who would normally be investing in the US Stock Exchange) to choose real estate in this crippling market in which to place their cash. Many plan to rent the properties, then wait out the market until the economy turns around. Properties that were selling in the high $600,000 to $800,000 range are turning up in the mid to low $300,000 range and this class of investors are poised to take full advantage.

According to Associated Press, "For the international investor class, the United States’ bloated inventory of homes, high unemployment and weak currency make for an unusually attractive buyer’s market." As realtors, we see these deals come along that are simply jaw-dropping! With financing difficult to get in our current environment, the all-cash deal definitely makes for a strong offer. This is a major reason why The PURTEE Team got their recent certification as RSPS (Resort & Second Home Property Specialist). This certification covers a foreign national real estate transaction in purchasing an investment or second home from the initial search through the entire purchase. In addition, we have a Transnational Referral Certification specializing in working closely with clients of realtors from other countries. We believe so strongly in the importance of this trend that we are also actively involved in www.WorldProperties.com

Tampa Bay Rays - American League East Division Champions

Today was a BIG day for Rays Baseball! Not only did they cinch the American League East Division Championship... but they also got the home field advantage! Playing on the road in Kansas City, the Rays found themselves down in the count 0-2 until the 9th inning when Pena's line drive into the corner of left field brought in the 2 runs to even the score. Shortly after, word came that the Boston Redsox had beaten the NY Yankees ensuring Tampa's Bay's Division win.

But the Rays were not going to sit complacently by and let this final series game go without a fight. The 12th inning was our time. Rocco Baldelli hit a single... then stole a base to get to second. Leave it to Kelly Shoppach to bring Baldelli in and bring the score to Rays 3 - Royals 2. So, with the bottom of the 12th the pressure built to hold our lead and Raffael Sorriano came in to close out the inning. He didn't let us down with his 45th save of the season!

The Tampa Bay Rays will be home tonight after a very long stretch with no days off. They actually get to sleep in their own beds. Then, on Wednesday post season will begin with a 5 game series against the Texas Rangers. Meanwhile the Yankees with be pitted against Minnesota. Tough match ups to get the the American League Championship and on to the World Series. But for now... yet another exciting reason to live in Tampa Bay!!!

Super Boat Races Returning To Clearwater Beach This Saturday!

At speeds of up to 180 mph, the roar of these sleek power boats will be returning for the 3-day BRIGHT HOUSE 2010 CLEARWATER SUPER BOAT NATIONAL CHAMPIONSHIP FESTIVAL. Just over the bridge from Clearwater Beach, the boats will be on display Friday and Saturday at Coachman Park at the Baystar Race Village.

Other Friday Festivities Include:
• Baystar Village Party at the Promenade on the Bay, 5:30 to 9 p.m., at Cleveland Street and the city’s new marina next to Coachman Park
• Super Block Party in downtown Clearwater, 5:30 to 10 p.m., featuring the music of Let’s Hang On

Saturday Is Filled With Events Such As:
• Meeting the 2-Person Race Teams
• Make A Difference Foundation Fishing Tournament At Clearwater Beach Pier 60 at 8am and 10:30am
• Festival, Fireworks & Ice Cream/ VIP Event Hosted by Pier 60 Concessions/Fireworks Display
• Shephard’s VIP Party, hosted by the Clearwater Beach Chamber of Commerce, 8 p.m. to 3 a.m.

Sunday Is RACE DAY!
11am SUPER BOAT RACE HEAT 1
1pm SUPER BOAT RACE HEAT 2
Over 25,000 spectators are expected and viewing areas are being set up at Pier 60, the Hyatt Aqualea Patio and the Hilton Deck Party. And, of course, the after race party will be hosted by Shepherd's Beach Resort.

Ahhh... just another weekend at the beach!