The Full Moon Is AMAZING!!!

I did a little research to see why the full moon this month seemed gigantic! There is an article on http://www.weather.com/ that explains it.



They call it a "supermoon". Because the moon's orbit around the earth is not a perfect circle, there are times when it is at is closest and other times when it is at its farthest. The photo they used is pretty impressive to see the impact of how it looks to us. "One side of the moon's orbit is actually roughly 31,000 miles closer to earth than on the other side of the orbit. When the moon's orbit is the farthest away from earth, the moon is at its Apogee. When it makes its closest approach, the moon is at its Perigee."

This month's Perigee is actually 2% closer than the average Perigee, making it the closest positioning since 1992!!!

Pretty amazing to see here on the beach in Tampa Bay!

Is The Tampa Bay Beach Real Estate Market Finally Rebounding?

Click On Chart To Zoom

The PURTEE Team watches the market closely and reports when we see news that impacts where the market is heading. When the monthly Market Statistics come out, the first thing we do is go to the Absorption Rate Chart to see which direction we are moving.

The second half of 2007 is when the market began to slide... 2008 and 2009 were struggling in a big way. We thought we were on a roll in the first half of 2010 until the oil spill put everything into a tailspin!

Take a look at the chart above for February 2011! To refresh was it is, the Absorption Rate (inventory turnover) is determined by dividing the number of units sold during the month by the total number of listings in the MLS. In both single family homes AND condos, things are happening! BUYERS TAKE NOTE!!! There are so many of you sitting on the sidelines waiting for the right "signal". Inside the February Statistics report are 2 pages you really need to look at. We will post them here, but you can also see them on the website. Take a look at the trend in the amount of inventory, then the number of sales compared to recent years.

See how you read it, but to us the pendulum we continually speak about has turned. What do you think?

Now You Decide To Buy - What About Financing?

Cash buyers are prevailing in this market and sellers pay close attention to no-financing contingencies! Over 65% of transactions closed to date in 2011 were cash transactions. Lenders have tightened up their mortgage policies demanding higher down payments and stricter qualifying for even to most credit-worthy buyers.

As a matter of fact, through all of 2010, 3 of the major lenders provided over 1/2 of all US mortgages, according to the fourth quarter 2010 Mortgage Lender Ranking from MortgageDaily.com. Wells Fargo, Bank of America and Chase originated 56% of last year's business. The number of FHA-backed loans also rose from around 19.1% in 2009 to 19.8% in 2010. US lenders closed on about $1.530 trillion in 2010, down from $1.970 trillion in 2009. Well's Fargo remained #1 with $387 million.

If you are considering a purchase and require financing, be sure to check our resources. For Mortgage Info, click here. Or talk with us about lenders who understand this market and what it will take to get your financing accomplished.

What Do January Market Statistics Say? When Do I Buy???

The January Market Statistics for Pinellas County

are out and the full report is posted on our website. There are SO MANY people sitting on the sidelines reluctant to make a purchase. The media continues to be negative and buyers anxious to own property in Tampa Bay, whether as a second home or as a relocation, simply do not know whether to take the plunge.

With so many baby boomers nearing retirement... and the country experiencing one of the most brutal winter seasons this year... Florida has a lot of people anxious to not miss out on living the Florida lifestyle! Prices have reached unprecedented lows and over the last several months we have seen the results. We have targeted HOT DEALS for our clients and email them out within a day or so of them going on the market. It is amazing how many of these are under contract before the week is out! That is telling us something. The pent up demand is staggering. When you realize that in 2004 and 2005 over 1000 people were moving to Florida a day, once the pendulum does swing, it will be HUGE!

We keep a close eye on this chart and the Absorption Rate*... looking for trend lines. Look at the latter half of 2009 into 2010. There was a great deal of positive momentum! So what changed in June of 2010??? How about the understanding of how serious the BP oil spill in the gulf was? It took through the rest of the summer and beyond to cap the flow and throughout the world, people looked on in horror that beautiful Florida was now tarnished. It didn't matter that not one drop of oil reached our area. It was the PERCEPTION.

Our prediction is that it will unfold just like that. When the PERCEPTION changes (and the media says now is the time), there will be a feeding frenzy. There are a LOT of sellers out there not willing to sell at these current prices. Once this distressed inventory runs out, we will go to the owners willing to sacrifice what they have in their property. From there, we have those who won't. THESE DISTRESSED SALES RIGHT NOW ARE WHERE THE OPPORTUNITIES ARE!!!

Our recommendation... contact The PURTEE Team and get on the radar. What you are seeking may come on the market and be gone without you ever knowing about it.

*Absorption (Inventory Turnover) is determined by dividing the number of units sold during the month by the total number of listings in the MLS (Multiple Listing Service)

So What's All The Fuss About Living On The Beach???

Here on the west coast of Florida in Tampa Bay, there is a nightly spectacle called sunset that sparks wonder and romance in most of us mortals! And when the clouds are just right you get a sky like this one that simply takes your breath away...

Throughout the year, weddings are abundant along the beaches from Clearwater Beach in the north end of Tampa Bay to St Pete Beach in the south end. There is not a night that goes by that we see people drawn to the beach for sunsets and we often stop to take pictures of them with the beautiful sky to commemorate their time here.

But to actually live here... to see it every night... does it EVER cease to amaze? Absolutely not!!! Actually, it is pretty hard to ignore when your home or condominium lights up with warm shades of red and yellow.

So, all in all, the sunsets rate right up there at the top of the list of why living on the beach is so special. The beautiful white sand, gorgeous azure blue Gulf waters that can transform from docile stillness to crashing surfing waves, the constant surprise of kite boarding or parasailing or light aircraft hovering the shoreline, or the regular sightings of dolphins and manatees... there is ALWAYS something to see and appreciate!

And now it is even more affordable!!! Our latest HOT DEAL is a 2 bedroom/2 bath condo in Indian Rocks Beach that was just listed as a short sale at $375,000!!! Ready to live the Florida lifestyle? Contact The PURTEE Team today and make the dream a reality!

Florida Sounding Good About Now???

When I spoke with a client earlier today, he told me they had over 30 inches of snow this past weekend - a record amount in 1 DAY! Shoveling snow is part of the daily routine in most parts of the country. Did you know that yesterday, FLORIDA was the only state that was snow-free??? Even Hawaii had snow on top of two of its volcanoes!

So is a Florida vacation sounding good? New rental inventory is opening up here in Tampa Bay every day... even for the prime season months of February and March. Even with it unseasonably cold, the Florida uniform is shorts with a sweatshirt or windbreaker. It will be back in the 70's by the weekend. Check out our Seasonal Rentals, but definitely contact us (even if you don't find anything) as we know of other properties as well! Plus we learn of new properties all the time. For example, we have a client closing on a beautiful waterfront condo tomorrow. He plans to have it furnished and ready for occupancy by early February. It is not on the website because there aren't any photos yet.

And while you are here, give The Purtee Team a call to check out some of the amazing buying opportunities! Visit our website at: www.floridagulfproperty.com

Another Cultural Milestone For St Petersburg, Florida!

Is it any surprise that the Grand Opening of the new Salvador Dali museum would have its ribbon cutting ceremony at 11:11 on 1-11-11???

According to Hank Hine, the Museum Director, "The $36 million landmark building will be realized as a collaboration between architect Yann Weymouth of HOK, the Museum staff, and the builder the Beck Group. Built more efficiently than many contemporary museum structures, the new Dali combines elements of the classical and the fantastical – much like the work of Dali." The museum houses the largest collection of Dali's work outside Spain and has achieved the coveted 3-Star Michelin status.

A procession moved from the old museum location to the new home of The New Dalí which opened with an awe-inspiring installation of the Museum's permanent collection within the combined 20,000 square feet state-of-the-art gallery spaces allowing for the first time the complete viewing of all 96 oil paintings, plus a selection of drawings, fine prints, photographs, videos and Surreal Objects by Salvador Dalí. www.salvadordalimuseum.org

The Dali Museum joins the new Dale Chihuly Collection of Glass at the Morean Arts Center (which opened in 2010) in giving residents and visitors alike new cultural destinations to explore in downtown St Petersburg here in Tampa Bay. It's not ALL about the sunny weather and beautiful white beaches!!!

Grand Opening Events include several performances of the Florida Orchestra this weekend dedicated to the eccentricity of Dali and Family Day at the Museum this Saturday from 10:30-4.

Also look for:
Dalí & Beyond Film Series: The Dalí Dimension
Thursday, Jan. 20, 6:00 p.m

Dalí Museum Benefit Party - Los Sueños de Dali
Saturday, January 22, 8:00 - 11 p.m.

Yoga + Dalí
Sundays, starting January 23, 12:30 - 1:45 p.m.