There are significant numbers in the statistics that have now been posted on out website. Go to http://www.floridagulfproperty.com/ and click on November 2009 Statistics from the Home Page. As we review the numbers, some very important trends continue.
Single Family Homes
November '09 Listings - Down 28.6% From 2008
2008 - 8539
2009 - 6096
November '09 Sales - Up 36.6% From 2008
2008 - 429
2009 - 586
Condos
November '09 Listings - Down 23.1% From 2008
2008 - 7001
2009 - 5382
November '09 Sales - Up 29.8% From 2008
2008 - 235
2009 - 305
Prices remain flat or down slightly reflecting Sellers willing to compromise their price in order to make the sale... but more significantly the short sales and foreclosures impacting the price points. But one thing is for sure... inventory being reduced combined with increasing sales signifies we are on the way toward recovery. Sharing this information with help others feel more confident that the time to make a purchase is now. Also, be sure to take a look at the Blog on Mortgage Qualification.
Thursday, December 17, 2009
Tuesday, December 15, 2009
Mortgage Qualification Tightens
Remember when five years ago, if your application for a mortgage included a 20 percent downpayment, your bank would have approved your loan by sundown and sponsored a parade in your honor? With the onset of tightening credit, a large down payment no longer guarantees you’ll qualify for a mortgage. "Starting this week, mortgage finance giant Fannie Mae will require borrowers with a 20 percent downpayment to have a credit score of at least 620. Previously, the cutoff was 580. Fannie Mae buys loans, providing an important source of financing for lenders. For that reason, its guidelines are considered the gold standard for mortgage loans. Most banks are expected to adopt the new standards, if they haven’t already. 'Credit scores have never mattered quite as much as they do now,' says Bob Walters, chief economist for Quicken Loans. In addition, Fannie Mae won’t approve loans for borrowers with a 20 percent downpayment if more than 45 percent of their gross monthly income goes toward debt. Fannie Mae didn’t disclose the previous debt limit, but it was higher than 45 percent, says Fannie Mae spokesman Brian Faith."
If you’ve already found a home you’d like to buy, there’s not much you can do to raise your score before you apply for a loan. But if you’re just starting to tour open houses, there are steps you can take to improve your credit profile, including:
• Review your credit reports for errors. Go to AnnualCreditReport.com and order your credit reports from the three main credit-reporting bureaus: Experian, TransUnion and Equifax. You’re entitled to a free credit report once a year from all three of the bureaus, but only if you go through this website. Once you receive your credit reports, go through them and look for inaccurate information, such as accounts you never opened. All of the credit bureaus provide a process to dispute errors, says Craig Watts, spokesman for Fair Isaac, which created the widely used FICO score.
• Pay off credit cards and other debts. One of the factors used to calculate your credit score is your “credit utilization ratio,” which measures the amount of credit you have outstanding vs. your total available credit. This ratio accounts for 30 percent of your score. Paying off balances will increase the amount of unused credit you have available, which will help your score. But even if you’ve decided never to use credit cards again, don’t close your accounts. Closing a credit card account won’t help your credit score and could hurt it, Watts says. When you close an account, you reduce the amount of your available credit, which could hurt your credit utilization ratio.
• Avoid opening any new accounts. “Every new account you open is likely to drop your credit score, at least a little,” Watts says. Checking your score When you order your free credit reports from AnnualCreditReport.com, your credit scores aren’t included; you’ll have to pay a fee to get them. In recent months, though, several services, such as Quizzle, Credit Karma and Credit.com have launched programs that provide free credit profiles. These websites can provide a useful snapshot of your credit standing and provide tips on how to improve it, Detweiler says. If you’re planning to buy a home a year from now, she adds, it doesn’t make sense to spend a lot of money to buy scores that could change by the time you apply for a loan. But house hunters who plan to apply for a loan in the next few weeks should know their actual FICO scores, because that’s the score most potential lenders use, Detweiler says. You can buy your FICO score and credit report from TransUnion and Equifax at http://www.myfico.com/ for $15.95 each. Earlier this year, Experian stopped selling to consumers the FICO scores it provides lenders, Watts says. You can buy a credit score based on Experian’s own scoring model for $15 at http://www.experian.com/ .
* December 15, 2009 - Information From USA Today
If you’ve already found a home you’d like to buy, there’s not much you can do to raise your score before you apply for a loan. But if you’re just starting to tour open houses, there are steps you can take to improve your credit profile, including:
• Review your credit reports for errors. Go to AnnualCreditReport.com and order your credit reports from the three main credit-reporting bureaus: Experian, TransUnion and Equifax. You’re entitled to a free credit report once a year from all three of the bureaus, but only if you go through this website. Once you receive your credit reports, go through them and look for inaccurate information, such as accounts you never opened. All of the credit bureaus provide a process to dispute errors, says Craig Watts, spokesman for Fair Isaac, which created the widely used FICO score.
• Pay off credit cards and other debts. One of the factors used to calculate your credit score is your “credit utilization ratio,” which measures the amount of credit you have outstanding vs. your total available credit. This ratio accounts for 30 percent of your score. Paying off balances will increase the amount of unused credit you have available, which will help your score. But even if you’ve decided never to use credit cards again, don’t close your accounts. Closing a credit card account won’t help your credit score and could hurt it, Watts says. When you close an account, you reduce the amount of your available credit, which could hurt your credit utilization ratio.
• Avoid opening any new accounts. “Every new account you open is likely to drop your credit score, at least a little,” Watts says. Checking your score When you order your free credit reports from AnnualCreditReport.com, your credit scores aren’t included; you’ll have to pay a fee to get them. In recent months, though, several services, such as Quizzle, Credit Karma and Credit.com have launched programs that provide free credit profiles. These websites can provide a useful snapshot of your credit standing and provide tips on how to improve it, Detweiler says. If you’re planning to buy a home a year from now, she adds, it doesn’t make sense to spend a lot of money to buy scores that could change by the time you apply for a loan. But house hunters who plan to apply for a loan in the next few weeks should know their actual FICO scores, because that’s the score most potential lenders use, Detweiler says. You can buy your FICO score and credit report from TransUnion and Equifax at http://www.myfico.com/ for $15.95 each. Earlier this year, Experian stopped selling to consumers the FICO scores it provides lenders, Watts says. You can buy a credit score based on Experian’s own scoring model for $15 at http://www.experian.com/ .
* December 15, 2009 - Information From USA Today
Monday, December 14, 2009
Games Of Chance In Tampa Bay?
Looking for a Florida casino? There are several gaming options in the Tampa Bay area. There are freestanding casinos like the ever-expanding Seminole Hard Rock Hotel & Casino Tampa, gambling at the 
track and offshore Florida casino cruises departing docks on the Tampa Bay beaches regularly. Fun awaits for Florida gamers!Derby Lane Greyhound Track is not only home to dog racing,
but also hosts Live Action & Tournament Play Poker Seven Days Per Week!The Offshore Port Richey Casino is a Royal Casino 1 that stays offshore with regular water taxis ferrying guests to the 465-passenger vessel where Slots, Video Poker, Blackjack, Craps, Roulette, Three Card Poker, and Caribbean Stud Poker await.
No... there is no lacking for entertainment right here in Tampa Bay!
Thursday, December 10, 2009
Why Buy Real Estate In Florida Over The Holidays?
While daily life is filled with shopping, holiday parties and trimming the tree... how can one be expected to focus their attention on a real estate purchase in Florida? Well, the savvy buyers are making it a point to jump start their search here in December.By the beginning of January, the snowbirds will be descending upon the beaches of Tampa Bay as their warm weather oasis to remove themselves from the blistering cold and icy conditions back home. Our moderate temperatures and sunny weather are very addicting. As often happens, while they are here thoughts turn to owning their own piece of paradise. For that reason, sales traditionally increase with dramatic intensity during January, February and March. Once that starts, the competition for the best real estate opportunities that abound in this depressed (but recovering) market strengthens.
During this month of December, those in the know realize that burst of sales activity is on the
horizon. Thinking of buying here along the beaches of Tampa Bay? Fill out your Dream Home Questionnaire today to begin your search right from your home or office computer. The PURTEE Team will take that information, along with their knowledge of the area to help find you the best possible deal!
Monday, December 7, 2009
Holidays In Tampa Bay
Over the weekend, I was asked what is so special about living on the beach during the holiday season here in Tampa Bay. WOW! For one thing, when I woke up this morning to brisk weather and saw that it was 65 degrees (will go to the mid-70's by the middle of the day), so I naturally checked the temperature back in Atlanta. It was 36 degrees... burrr!!! I actually have to hunt in my closet to find a sweater.
For some reason, the various beach communities take their holiday decorations seriously. There is lighted decor on every light post along Gulf Blvd. The posting to the holiday light tour is expected out any day. And the number of people that decorate here is HUGE... so that going out after dark is a treat to behold! But most importantly, the Holiday Boat Parades that take place between now and Christmas are a treat we enjoy every year! There is no fee to join so boat owners from all around compete to see who can decorate their boat with the most imagination. Many have holiday music playing... and it is a joy to be invited to ride in the parade... as much as viewing one from the shore. Such fun!!! The Treasure Island Boat Parade leaves out of the Treasure Island Yacht Club this Sunday, December 13th. If you are in the area, you won't want to miss it!
Friday, December 4, 2009
A House Like No Other! JUST LISTED
Every now and then we get a listing that defies what we might consider a 'normal' listing. This is one of those properties! Here is what we had to say about it (and be sure to watch the video tour!!!)Nestled in the distinctive gated community of Bayway Isles is a gem of a property that is a unique blend of opulance and seclusion. An estate sale makes this a golden opportunity for a savvy buyer determined to make an astute purchase.
From the moment you walk in the front door, it will take hours to absorb all the high end finishes, 14 painted murals, innovative Bonus Rooms such as the Music Room, "Alice In Wonderland" Children's Room, "Blues Brothers" Theater Room, Arcade Game Room & Mirrored Fitness Center... to the lavishly landscaped pool and lanai. When you add the enviable outdoor kitchen, hot tub, lookout tower, and oversized lot adjacent to the private pond... the secluded oasis is a property like no other.
Be sure to watch the video tour, but rest assured it only skims the true value of what awaits the buyer lucky enough to find this diamond. Minutes to the beach and Gulf of Mexico, Fort DeSoto, Skyway Bridge... with easy access to Tampa International Airport.Listed at $1,599,000. For Video Tour, Click Here!
Wednesday, December 2, 2009
Spotlight On John's Pass At Madeira Beach
So, what is John’s Pass Village really all about? All December - John's Pass Village becomes fabulous Christmas Village for this month-long celebration! The lighting of the Madeira Beach Christmas Tree was on November 30th and the arrival of Santa Claus to the Village! John's Pass merchants offer Special Discounts throughout the entire Holiday Season.
But how did John’s Pass come to pass (sorry about the pun). Years ago, in the early 1800’s Florida was not a state yet… merely an American Territory with no law enforcement. The Native American tribe of Seminole Indians was joined by runaway slaves from the southern states. Together, they co-existed in a rugged terrain full of pine forests and mangrove-covered islands. What was also prevalent were bands of pirates!
John LeVeque, a Frenchman, set out to find his fortune in the new World by serving as a cabin boy on a Spanish Galleon in 1836. The ship was attacked by pirates and young John was enlisted into the pirate crew as a galley slave. He moved up the ranks to First Mate and finally Captain of his own pirate ship. According to legend, John LeVeque always allowed his victims to keep their lives and their freedom. His sailings took him throughout the Caribbean and up into the Gulf of Mexico where he discovered a beautiful beach on an island on Florida’s West Coast. He buried his treasure chest with his amassed fortune right off this very beach and it became a peaceful hideaway for him… and what would some day become Madeira Beach.
LeVeque decided to retire to New Orleans and was making his way to retrieve his treasure from his hideout in Madeira Beach. As he sailed north a hurricane blew in on the horizon and he held back. The next morning, September 27, 1848, LeVeque found that the hurricane had cut his long skinny island clean in two, rendering his treasure map useless. The storm had destroyed the very area of the island where his treasure had been buried! As he sailed through the new pass, and as dolphins played alongside his boat, John LeVeque realized his treasure had been lost forever. Since that day, the inlet has been known as John’s Pass in honor of LeVeque’s discovery and maiden passage through the waterway. He never found his treasure, but did settle there watching his isolated island become a quaint fishing community.
It was Wilson Hubbard who, in 1978, saw the potential of a waterfront boardwalk with its marina facilities, restaurants and variety of shops. Recent renovations brought in Bubba Gump’s Restaurant which has been an instant success. In June every year, there is even a 3-day Pirate Invasion event to honor John LeVeque’s story.
December at John’s Pass should be fun-filled and well worth the visit!
But how did John’s Pass come to pass (sorry about the pun). Years ago, in the early 1800’s Florida was not a state yet… merely an American Territory with no law enforcement. The Native American tribe of Seminole Indians was joined by runaway slaves from the southern states. Together, they co-existed in a rugged terrain full of pine forests and mangrove-covered islands. What was also prevalent were bands of pirates!
John LeVeque, a Frenchman, set out to find his fortune in the new World by serving as a cabin boy on a Spanish Galleon in 1836. The ship was attacked by pirates and young John was enlisted into the pirate crew as a galley slave. He moved up the ranks to First Mate and finally Captain of his own pirate ship. According to legend, John LeVeque always allowed his victims to keep their lives and their freedom. His sailings took him throughout the Caribbean and up into the Gulf of Mexico where he discovered a beautiful beach on an island on Florida’s West Coast. He buried his treasure chest with his amassed fortune right off this very beach and it became a peaceful hideaway for him… and what would some day become Madeira Beach.
LeVeque decided to retire to New Orleans and was making his way to retrieve his treasure from his hideout in Madeira Beach. As he sailed north a hurricane blew in on the horizon and he held back. The next morning, September 27, 1848, LeVeque found that the hurricane had cut his long skinny island clean in two, rendering his treasure map useless. The storm had destroyed the very area of the island where his treasure had been buried! As he sailed through the new pass, and as dolphins played alongside his boat, John LeVeque realized his treasure had been lost forever. Since that day, the inlet has been known as John’s Pass in honor of LeVeque’s discovery and maiden passage through the waterway. He never found his treasure, but did settle there watching his isolated island become a quaint fishing community.
It was Wilson Hubbard who, in 1978, saw the potential of a waterfront boardwalk with its marina facilities, restaurants and variety of shops. Recent renovations brought in Bubba Gump’s Restaurant which has been an instant success. In June every year, there is even a 3-day Pirate Invasion event to honor John LeVeque’s story.
December at John’s Pass should be fun-filled and well worth the visit!
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