Holidays At The Beach

In early to mid-December, living here in Tampa Bay is simply spectacular! Not only are we enjoying 78-80 degree days, the holidays are magical as well. All the colorful lights abound on every corner and all along the Gulf Boulevard corridor.

Holiday boat parades are celebrated in each community and hundreds of boats compete with their decorations for each coveted prize. Last Friday, we enjoyed the St Pete Beach boat parade with over 80 boats participating. The lighting of the tree, a visit from Santa and jolly elves playing live music brought a festive atmosphere to all of us lucky enough to have a great view.

Add to that the Geminid Meteor Shower that has been in full force the last two nights... out on the beach away from the lights is the perfect viewing position to see shooting stars every minute!

As we get ready for the new year and huge influx of tourists to our area, this is literally the quiet before the storm. What a perfect time to reflect on the beauty and amazing lifestyle living here brings...

Being realtors specializing in real estate along the beach area of Tampa Bay, The PURTEE Team is ready to share that lifestyle. If you find yourself contemplating a purchase in our area, fill out this short questionnaire and you will be on your way to seeing why life is so special here!

Cyber Monday - Finding Florida Real Estate Online!

With so many websites offering real estate searches such as Realtor.com, Trulia & Zillow, it is most common for potential buyers to explore the market themselves to see what is available. As the online experience continues to grow in every conceivable area, there is no reason logically that real estate shopping would be any different!

To a certain extent that is true. There is an abundance of information available through public records and a little research can uncover a great deal of information from property taxes to recent sale activity to status of liens against a property.

In order to improve the process, here are a few pitfalls to avoid:

1. All of the real estate websites pull their information directly from local Multiple Listing Services (MLS). There are some status categories that these websites do not have which can easily cause confusion. For example, when a listed property goes under contract and there are contingencies to work through - such as short sale lender approval, financing or inspections, the status goes to a category called "Active with Contract". The real estate websites pull these listings as "Active". For that reason, a buyer searching can easily waste a great deal of time researching a property that is actually already under contract.

2. It is very easy to listen to national media and think you understand what the trends are in the market. BUT, word to the wise... every market has its own quirks and trends. Many times it is hard online to determine the pulse of a specific local market.

3. There is no question every buyer wants to feel he or she made a good purchase at a great price. As real estate starts its comeback, there have been many buyers waiting on the sideline trying to decide if now is the time to buy. This pent up demand results in a lot of buyers looking for the same type of property... particularly in a market specific such as the beach area of Tampa Bay. The really good properties go extremely fast and many times are under contract before they can feed through to the other websites.

If you are a serious buyer contemplating a purchase here in the Tampa Bay beach area, The PURTEE Team can offer you a way to blend the ease of online shopping with the expertise of a local realtor. Through our website: www.floridagulfproperty.com , we offer a variety of searches that are available in 'real time'. You can choose to Search All MLS ; Search Distressed Properties ; or select HOT DEALS for our current picks of excellent value properties.

Let us show you how you can become knowledgeable about the specific market you are considering, and help direct you to properties that fit your criteria before others even know about it! Email us to learn more: info@floridagulfproperty.com and you will be on your way to Living the Florida Lifestyle...

In Search Of Distressed Properties In Florida

Every day The PURTEE Team talks to buyers looking for a real estate "deal" here along the coastline of Tampa Bay. There are still great values, but the climate is definitely changing... and we continue to get the word out to our clients.

In Pinellas County, as of November 7th, there are 8,253 properties listed for sale. Over 76% of those are non-distressed! By distressed, we are talking about a short sale or pre-foreclosure or bank-owned. This 8,253 listings number represents 33% less inventory from what was available at the end of October 2010.

For that reason, there is less for the buyer to choose from. Plus, out of the active listings, less than 20% are short sales and only 3.7% are bank owned! Although 1,400 new listings hit the market during October only 7% were bank owned and slightly less than 20% were short sales.

THE RESULT? When comparing sales from October 2011 to October 2010, non-distressed sales are UP 20%, short sales are up 57% and bank-owned sales DOWN by 12% (lack of inventory).

A prospective buyer came into an open house over the weekend to look at a property that has been aggressively priced and is currently one of the lowest per sq ft properties to have been sold in this particular community. He emphatically told me the prices were going to continue to come down and he would pick up one when a lower price came available. HOW DO YOU READ THESE STATISTICS?

Directly from our website, on our HOT DEALS page, you can search all local distressed properties. Our advice? DO NOT DELAY your purchase. As of the holidays we go into our busy season and many people from around the country and internationally are planning to make a purchase while they are here. We are here to help. Contact Us Today!

** Statistics provided by the Pinellas Realtor Organization

October Early Snow Sets More Northeasterners With Sights On Florida

This past weekend's surprise snowstorm took the last of the beautiful fall colors with it. Power outages, blocked roads, treacherous driving, shoveling... SERIOUSLY? And in October???

As part of The PURTEE Team, realtors in the Tampa Bay beaches area, we do business with clients not only from around the country but around the world. We have talked to many clients in Pennsylvania, New York and Massachusetts in the last few days. With starting the snow so early this year, it has many of them looking toward "living the Florida lifestyle".

Each of the four members of our real estate team relocated here to the Tampa Bay area years ago. We have never looked back on that decision. This area has an abundance of activities with every kind of water sport, 9 area spring training teams, major league sports, international shopping, theme parks, fine dining... and then, of course, there is the pristine white sandy coastline along the Gulf of Mexico that simply takes your breath away!!! What a novel thought to leave the cold and snow behind and instead play a round of golf, a game of tennis, sailing into the sunset, deep sea fishing... or simply a stroll on the beach!

If you are seriously considering the options of either relocating to the Tampa Bay area, or purchasing a second home here... we are the realtors for you. Scrupulously diligent in finding the right property, we won't let you down. Whether you work with Mark, Garges, Lambdin or Kathy, you get the power and expertise of us as a team. Our website www.floridagulfproperty.com is filled with tools to help as well. Fill out your "Wish List" today and one of us will be in touch with you shortly to help identify exactly what you are looking for and how we can help you find it.

September Market Statistics Keep Up The Momentum!

Please Click On Chart To Enlarge
The PURTEE Team prides themselves on being knowledgeable about the Tampa Bay beaches real estate market... both in market statistics, trends and pertinent information. The chart at left clearly defines a trend we have been witnessing throughout this year. September was no exception.

The Absorption Rate defines how much of the current inventory is being purchased. When you look at 2008 and 2009, you find the absorption rate really low resulting in high inventory levels. In contrast, this year with the higher absorption, inventory has been steadily decreasing. As a matter of fact, inventory levels in our area are back to 2005 levels!

This does not mean there are not deals to be found... it simply means that when one of them hits the market it goes under contract quickly. There is no more important time to use a professional realtor to help with this process. When we know what our clients are looking for, often we can maneuver them into a property... sometimes before the property is ever listed! The best way to get the ball rolling is to send in our easy Questionnaire. This gets you and what you are looking for on the radar so we can help you find it!

Considering Listing Your Home/Condo As A Short Sale?

The last three years have taken its toll on consumers across the nation with economic woes and a declining housing market! Homeowners have found themselves upside down in their properties with the easy access mortgages of 2005-2007 far surpassing the current value.

The number of foreclosures skyrocketed and short sales have become an everyday way of life. Yet many owners have held on, diligently paying their mortgage payments through these difficult times. Often the answer has been to rent out the property to help offset the costs. Many have dipped into savings or their retirement in order to fund these properties that appeared so golden such a few years ago!

Although there are positive signs in the market that housing is stabilizing (see our blogs about local area market statistics), some owners have finally reached a breaking point where they simply cannot afford to support these properties any longer. If you are considering doing a short sale on a property you own, it is most important that you use seasoned professionals to help you. The PURTEE Team with Realty Executives can be counted on to get you the counsel you need and help through the process. We use a strong negotiator, with an attorney's guidance, to represent our clients through the short sale. The attorney will explain in detail options and consequences, along with what to expect along the way. Because we are thorough and surround ourselves with such a professional team, our success rate is extremely high! A new TESTIMONIAL was just added by one of our short sale sellers... see what he has to say and why you might want to consider listing with us. Email us at info@floridagulfproperty.com to set up a time to discuss your listing questions. We are here to help!

Tampa Bay Rays Clinch The American League Wildcard!

Anyone who questions the pure determination of our Tampa Bay Rays simply does not understand what we know about this team! During off season this year, Tampa cut an insane number of our premiere players in order to drastically cut the payroll. Such stars as Carl Crawford, Carlos Pena, Matt Garza and Rafael Soriano were sent on their way.

But behind it all, Joe Madden led the team through cherry picked replacements such as Matt Damon, Casey Kotchman and some strong rookie muscle to our bullpen. All of the players know Madden never looses his confidence or his calm... creating an environment that makes the players enjoy the game with a highly competitive spirit.
September has been a stellar month for the Rays! Struggling to find consistency within it newly patched together team, they began September 9 games behind the Boston Red Sox vying for the American League wildcard spot! This is where Madden and his team began to pull it together and game by game decrease that spread. By last night, they were neck and neck with Boston... and we were playing the Yankees! Boston was playing Baltimore. Depending on the score of those two games, there would either be a wildcard winner or a tie-breaker to be played on Thursday!

When the Yankees came out fighting, The Rays saw a devastating 0-7 score facing their wildcard race... at the same time keeping up with the Boston game (they were winning 3-2). Most people would think that was pretty bleak... but the 8th inning changed the game and the deficit was narrowed to 6-7. In the bottom of the 9th inning, with 2 outs on the scoreboard, Madden brought in Dan Johnson as a pitch hitter. As the announcer said, "Johnson is here for one reason and one reason only." And sure enough he pops one out there tying up the game and leading the team into extra innings.

In the bottom of the 12th inning, the word came up on the scoreboard that the Baltimore Orioles had beat the Red Sox!! Cheers roared in the crowd... if we could win this game, the AL wildcard belonged to the Rays. And Evan Longoria's dramatic homer did just that!

This team simply does not lose its spirit and they never give up even when the odds are stacked against them. Play offs begin Friday against the Texas Rangers... GO RAYS!!!