Tampa Real Estate Podcast with John & Maria Hoffman

The final numbers for the 2017 Tampa Bay real estate market are in, which means it’s time for your market recap. By every measure, 2017 was a very strong year for the Tampa Bay market. Overall home sales were up by 7.85%, with 36,044 closed sales in 2017, up from 33,422 sales in 2016. The average sale price in Tampa Bay grew by 6% in 2017.   In comparison, the Tampa Bay region had an 11% increase in prices in 2016, and a 7% increase in 2015. A lot of that growth has been fueled by new construction here in our market. Experts predict that 2018 will be another strong year for the market, but the pace of growth is expected to stabilize, with the National Association of Realtors predicting a nationwide average price growth at a more conservative 1% to 3% annually. If you have a home to sell, it’s certainly a great time to put it on the market. I’m happy to share with you the best time do that based on your own particular situation. “Experts predict that 2018 will be another strong year for the real estate market.” Inventory has been a huge topic of discussion lately since it’s so low. For homes under $300,000 in Tampa, supply is extremely low, with less than three months of inventory available on the market. When we look at the $1 million and up range, there are 11 months of inventory on the market, so the upper price ranges are still experiencing a buyer’s market.  Supply and demand in real estate is highly localized – so the national headlines won’t always translate literally when we examine your home’s value.  Pricing can change week to week, and is a direct product of the pool of available buyers and how many other homes are on the market. Keep in mind that a lot of the new construction that is out there for buyers is not listed in the MLS and therefore not reflected in these inventory numbers. You can check out the full list of market statistics here. If you have any other questions about our market or about buying or selling a home, just give us a call or send us an email. We would be happy to help you!

The fourth quarter is a great time to put your home on the market in Tampa Bay because you’ll face less competition and the buyers you encounter will be more serious about buying. Selling your Tampa home? Get a free home value report Buying a home? Search all Tampa homes for sale It’s been a fantastic year to buy and sell real estate, and we’re now heading into one of my favorite times to put a home on the market. It’s the fourth quarter, and we’re entering the holiday season. A lot of sellers have been taught to believe that it’s a good idea to take their home off the market during the holidays because nothing sells then. Well, I’m here to tell you that nothing could be further from the truth. Tampa Bay is a year-round market with a strong fourth quarter. Would it surprise you to know that last year, a full 25% of the homes that sold in Tampa did so in the fourth quarter? Out of 33,422 home sales across the entire year, 8,831 sales occurred during the fourth quarter. If you’re thinking of taking your home off the market and listing it after the new year or once spring comes, have you considered taking advantage of the fact that inventory will be lower now because so many other sellers plan on doing the same thing? You’ll face less competition, and you’ll deal with fewer but more serious showings because buyers who look for homes during the fourth quarter tend to be more serious. “LAST YEAR, A FULL 25% OF THE HOMES THAT SOLD IN TAMPA DID SO IN THE FOURTH QUARTER.” Who are these buyers? They include: Out-of-towners flying in over the holidays who want to tie in visits to friends and family with their home-shopping trip. People who are starting new jobs at the first of the year and need a new place to live. In-town residents who want to purchase a home and close on it before December 31st so they can put a put a homestead exemption on it. People who are busy with work and have some time off over the holidays to shop for their homes. If you’ve been thinking about making a move but have been assuming it would be best to wait until after the holidays to do so, pick up the phone and give me a call so we can go over which options are best for you. If you have any more questions about our Tampa Bay market, feel free to reach out to me. I’d love to speak with you.

Have you heard of this amazing down payment assistance program that is available in our state? Today I’m bringing you the details. Selling your Tampa home? Get a free home value report Buying a home? Search all Tampa homes for sale Today I’d like to tell you about a little known program that has already thousands of people buy homes. This program can give you up to $15,000 toward your down payment. Unfortunately, many of today’s potential buyers have never heard of this program, so we want to spread the word to all of our friends and clients who might be able to take advantage of this wonderful program before it’s too late! Back during the housing crisis, the federal government designated funds to help in the bailing out of the housing crisis. However, because not all of this money was used, the funds that were left over were given to several of the most affected states in order to aid in their recovery. Florida was one of those states. As a result, state bond money is being given out to aid in home purchases in many counties here in Florida. Not only does the program give you up to $15,000 toward your home purchase, it also doesn’t need to be repaid as long as you stay in the house for at least five years. “STATE BOND MONEY IS BEING GIVEN OUT TO AID IN HOME PURCHASES.” But this down payment assistance program isn’t going to last forever—funds for the full $15,000 assistance are running low, and are set to run out around October 31-November 3 this year, and once they do, the program will change. While the program will continue, the amount of money that is offered will be dropping to $7,500, and the repayment requirements are stricter should you sell the home. So, who qualifies for this program? If you have not owned a home in the last three years, or are a veteran, you may qualify. Additionally, the income requirements are less strict than you might think. In fact, you can still qualify as an individual with a base salary of up to $82,600. This program is absolutely worth checking out. If you know anyone who would benefit from this program, please feel free to forward this message on to them, and call us immediately for more details. If you have any other questions or would like more information, feel free to give me a call or send me an email. We look forward to hearing from you soon.

You should have already received in the mail your county’s assessment of your home’s value for 2017. Here’s what to do if you think it’s too high. Selling your Tampa home? Get a free home value report Buying a home? Search all Tampa homes for sale We’re nearing the end of the summer, which means that your TRIM notice from your county containing the proposed assessed value of your home for tax purposes in 2017 has been sent out. It’s not a bill that you have to pay, but it is something that you are going to want to open and read carefully. If you feel that your assessed value is unfairly high, or that you are entitled to an exemption that you have not received, you do have the right to contest it with the county appraiser’s office. However, you only have a short time period in which to do this so acting fast is key. “WE’RE HERE TO SERVE AS A REAL ESTATE RESOURCE FOR YOU.” If you need some advice, give us a call or send us an email and we would be glad to help. It’s important to know that this assessment may not reflect what your home would sell for today on the open market—if you need to know what your home would sell for, just call us, and we’re happy to discuss what your home is worth. If you have questions about how the Property Appraiser determines an assessed value for your home, check out the informative discussions at each of the county websites: Hillsborough County Property Appraiser website Pasco County Property Appraiser website Pinellas County Property Appraiser website Remember, if you feel your assessment is unfairly high or a mistake has been made, you have the statutory right to appeal it. Keep in mind that you only have a short time to do so, so don’t wait. Here are some helpful links: How do I appeal my Hillsborough County tax assessment? Pasco County Real Property Value Appeal Form How are values determined by the Pinellas County Appraiser? We also wanted to remind you that our referral rewards contest is still going on. If you know someone who is looking to buy or sell a home in the Tampa Bay area, send them our way and you could win a wonderful vacation on us. Give us a call at 813-907-2555 or email us at Info@TampaHomeGroup.com.

How is the Tampa real estate market doing? May and June set new records in home sales, and prices are on the rise. Selling your Tampa home? Get a free home value report Buying a home? Search all Tampa homes for sale The June numbers just came in. You can check out all of the details here, but there are two important trends that I want to highlight. We just had two record-setting months in sales volume and home prices. In May, 3,573 homes sold, which is a record for the Tampa market. Then in June, 3,616 homes sold, breaking that record! Overall, there was a 13.2% increase in sales in June 2017 compared to June 2016. “WE JUST HAD TWO RECORD-SETTING MONTHS IN A ROW!” Home prices have also seen a healthy increase of 9.3% year-over-year. If you are thinking of putting your home on the market, now may be a good time to do so. If you have any questions about which improvements will get you the best return on investment, reach out to me and I can help you. Homebuyers, if you are struggling to find the home you want, let us know. We search daily, along with a dedicated staff, for off market properties for our buyers. We always have a number of properties entering the market in the next three or four weeks, so we can certainly help you. COMING SOON TO THE MARKET: 7844 Atwood Dr, Palm Cove, Wesley Chapel 18447 Eastwyck Dr, Kingshyre, New Tampa 12304 Bramfield Dr, Panther Trace, Riverview 4619 Rolling Green Dr, Country Walk, Wesley Chapel 714 Fayette Pl, Whitaker Estates, Lutz 8310 Old Town Dr, Grand Hampton, New Tampa 14174 Oakham St, Hampton Lakes, Tampa As always, if you have any other questions about our market, just give me a call or send me an email. I would be happy to help you!

Our Tampa Bay market is so hot it’s breaking records. Where is the dividing line between buyers and sellers, though? Selling your Tampa home? Get a free home value report Buying a home? Search all Tampa homes for sale The numbers are in for the month of March, and it was a record-setting one for our Tampa Bay market. Two very important year-over-year statistics prove how well we did compared to March 2016. First, there were 3,283 closed sales, which was an increase of 22%. To put that into perspective, our market traditionally averages between 2,200 to 2,500 sales per month. Across the market, prices were up roughly 8.7%. Depending on your neighborhood and price range, however, this figure can vary. “MARCH WAS A RECORD-SETTING MONTH FOR OUR MARKET.” What do these statistics mean? We have a clear dividing line where we switch from a seller’s market to a buyer’s market. In Tampa, that dividing line is right around the $500,000 mark. Under that price point, we have less than a six-month supply of inventory. Over that price point, the inventory starts to climb. To get a more in-depth look at the latest statistics our spring market has brought, click on this link. Who do you know who might need help buying or selling? As a friendly reminder, our Referral Rewards Vacation contest is taking place again this year, and there is still time to refer your friends and family who have real estate needs. Our winner will be drawn in December. If you have any questions about our market, don’t hesitate to give me a call. I would be happy to help you.

Should you love it or list it? Depending on your situation, these factors will help you decide if it’s smarter to remodel your home or simply move into a new one. Selling your Tampa home? Get a free home value report Buying a home? Search all Tampa homes for sale Should you love your home or list it? Many homeowners we talk to are thinking about remodeling projects and spending anywhere from $15,000 to $50,000+ on renovations, and wondering if it makes sense to just move to a new home instead. The answer really depends on your own situation, but you certainly want to think about whether the home will support your long-term needs if you make the upgrades, the eventual resale value of your improved home, and whether those improvements will pay off. There might just be something about your current house that doesn’t work for you and your family at this time. Moving might make more sense, especially if you are over-improving your home for its neighborhood. Depending on what you decide to do, getting your money out when it comes time to resell can be a challenge, so it’s worth doing a bit of research before you decide. If you’d like help with this decision, give us a call and we can help you run through the numbers for your individual situation to figure out what’s best for you and your family. “BE CAREFUL ABOUT OVER-IMPROVING FOR YOUR NEIGHBORHOOD.” If you decide to sell, be aware that the opportunity is good in our market right now, especially if you’re selling a smaller home and moving up into a bigger home. That’s because the inventory of available houses in the entry-level market and lower price ranges is low, but it’s higher in the higher price ranges. You could sell your house at a high-demand level and take advantage of decreased demand and better deals in the higher price ranges. You can get a look at all the latest market statistics here. If you have any questions at all or you’d like to discuss whether it’s smarter to renovate your home or move, I’d be more than happy to help. Just give me a call or send me an email today!

If you’re buying new construction, do you need an agent? I would highly recommend hiring one for a few reasons. Selling your Tampa home? Get a free home value report Buying a home? Search all Tampa homes for sale Are you focused on a newly built house as your next home? Many buyers have new construction at the top of their list when they go looking for a home. There’s nothing like the feeling of a brand-new, spotless home, that new-home smell, and a blank canvas ready for your own personal touches and preferences to make it your own. If you’re in the market for new construction, be prepared. There are some common myths, hidden costs, and important things to know when buying new construction, and you’ll want an experienced, professional real estate agent who is not affiliated with the builder on your side to make sure everything goes smoothly. Buying new construction without a buyer’s agent is not unlike going to the doctor without health insurance. In many cases, you aren’t covered or protected, and you will likely end up overpaying. A builder and the listing agent will give you guidance, but their alliances are to their company, not you. Some buyers mistakenly think they will save on commission when buying new, but the commission is built into the price whether an agent is part of the deal or not. Builders don’t remove that from the price of the home if you don’t use an agent’s services when buying from them. “A GOOD AGENT KNOWS THAT PRICES ARE NEGOTIABLE AND WILL ENSURE THE BEST DEAL ON THE HOME.” If you don’t have an agent, you may be on your own in more ways than one. Builders often offer greater incentives to agents that agents can then pass along to their buyers. There are often incentives for working with a lender and title company the builder prefers. Many buyers don’t know to ask for closing cost assistance or to have certain premiums waived or reduced. Your lot selection can be crucial for the future resale of your home, yet not all the home sites that carry premium prices will translate into premium resale value when you go to sell your home—an experienced agent can advise you on and help you to make the best lot selection, and prevent you from overpaying for a poor lot choice. Perhaps most importantly, new construction prices are negotiable! Many buyers feel intimidated when visiting a builder’s model center and don’t know they can negotiate on price. It’s to your advantage to have a buyer’s agent with you – that’s our job. We ask to negotiate the price and go in armed with our knowledge, skills and experience. We can pull information on comparable homes available locally, and present those to the builder to make the case to get you a lower price and a better value. That may mean asking for closing costs to be reduced, warranties to be extended, better pricing on finishes, or upgrades to flooring, appliances, or window treatments. As you reach an agreement on price and go under contract, a real estate professional who is knowledgeable about the industry and pricing provides valuable guidance. That can be a huge help when working with the design center to select from your available options and when you consider customizing your home, including structural issues and whether to handle them during construction or outside the building process. While your home is being built, mistakes can and do happen and the builders need to correct them—this can often be challenging for a buyer going it alone. No home is perfect, not even new construction, and the issues we see are often crucial to the future enjoyment of your home. Finally, as your buyer’s agent, we attend the final walk-through with you to help you identify any issues or areas of concern. A professional real estate eye will often see things a person outside of the industry might not notice. Ideally, there won’t be any problems – at least, any major problems; but there almost always are issues to address, and we have the expertise to work with the builder as your advocate and get any items of concern corrected. One more note… One of the costliest mistakes we see is when buyers decide to purchase a new construction home, banking on receiving a certain price for their existing home, without ever getting a professional opinion from an experienced listing agent on what their home will really sell for in today’s market. It’s easy to get a sense of confidence looking at your “Zestimate”, or prices of current homes on the market in the neighborhood. The buyer might find out down the road that their house isn’t worth as much as they thought—this can result in having to cancel a purchase, or even losing thousands of dollars in deposit money. Just be sure to consult with an experienced agent who successfully sells homes in your price range—not a brand new or part time agent. BEST of all our services of a knowledgeable, experienced buyer’s agent are FREE. Click here to download my free guide: Why It’s Crucial to Have a Great Agent on Your Side When Buying New Construction

Not buying a home is the biggest mistake millennials are making. Here’s why. Selling your Tampa home? Get a free home value report Buying a home? Search all Tampa homes for sale Do you know a millennial that should be buying a home? Perhaps you yourself are a millennial who is hesitant to make the transition from renter to first-time home buyer. Last week, CNBC ran an article quoting self-made millionaire David Bach explaining that not purchasing a home is “the single biggest mistake millennials are making” because buying real estate is “an escalator to wealth.” Bach went on to explain: “If millennials don’t buy a home, their chances of actually having any wealth in this country are little to none. The average homeowner to this day is 38 times wealthier than a renter.” In his bestselling book, The Automatic Millionaire, Bach does the math: “As a renter, you can easily spend $500,000 or more on rent over the years ($1,500 a month for 30 years comes to $540,000), and in the end wind up just where you started — owning nothing. Or you can buy a house and spend the same amount paying down a mortgage, and in the end wind up owning your own home free and clear!” “THE AVERAGE HOMEOWNER TO THIS DAY IS 38 TIMES WEALTHIER THAN A RENTER.” If you or anyone you know should be buying a home and taking advantage of these historically low interest rates, please reach out to us. We have resources for first-time home buyers, a terrific team of lenders, and all sorts of different programs and people who can assist you in your first home purchase. We even have down payment assistance programs, so there is no need to worry about not having enough to put down. If you have any other questions about buying your first home or if we can help you in any way, give us a call or send us an email. We look forward to hearing from you!

By now, we are all aware that at its December 14th meeting, the Federal Reserve increased its key interest rate by 0.25%. This was the first interest rate hike all year, and only the second interest rate hike in a decade, with the last one being in December 2015. Three more interest rate hikes are forecasted for 2017. Buyers are now feeling the urgency to purchase and take advantage of low rates. If you have been waiting to refinance, now is also the time to do so if you still have a higher rate, or an adjustable rate. While no one has a crystal ball, the historically low interest rates we have been enjoying might become a thing of the past.  If you have been thinking of selling your current home and buying another, or buying a home for the first time instead of renting, this is the time to put those plans on the front burner rather than putting it off until the spring or summer. “Now is the time to buy a home or refinance to lock in a low rate.” On a positive note, November 2016 home sales were up over October 2016 home sales. Typically, November home sales in the Tampa Bay area trail just a little bit behind October home sales. While October 2016 trailed behind October 2015 sales, November 2016 sales rebounded, and were up 20% over November 2015 sales. We might chalk this phenomenon up to the uncertainty preceding the election, and the increase in sales in November reflected buyers finally feeling confident to move forward. We want to wish you a merry Christmas, happy Hanukkah, and a blessed and prosperous New Year.  If you have any real estate questions, please don’t hesitate to reach out to us. We are happy to help.

With Thanksgiving just around the corner and the end of the year fast approaching, I just wanted to share with you a conversation I have dozens of times a week…should I wait until after the holidays to list my home? While some people may be under the misconception that the holidays are a bad time to sell, I’d like to give you three reasons why the holidays are actually one of the best times to list your home: “Home buyers are more serious during the holidays. We all have better things to do.” The Tampa Market is very active in November and December. While the number of actual showings might be fewer, the buyers this time of year are serious. Whether it’s people visiting the area for the holidays looking to buy and only a few days to decide, in-town buyers who have the time off work to shop for homes, buyers that need to close on a home before the end of the year so that they can claim a homestead exemption, or buyers moving here to start new jobs in January, you can rest assured that the people who are out home-shopping now aren’t just tire-kickers. You will face less competition during the holidays. Because so many sellers take their homes off the market during the holidays, you will have fewer homes on the market to compete with if you choose to list now. Once we hit the first of the year, there will be a flood of new inventory that hits the market. We can restrict showings for you during the holidays. If you have company coming in or out of your house during certain days, we will have no problem working around your schedule. We can also postpone a closing to keep you in your home until after the holidays if need be as well. We are working throughout the holidays, so if capturing the holiday market is something you think you may be interested in, or you have any other questions, I’d love to hear from you. Call or email. We’d be happy to help you!

What can you do to increase the value of your home? I have a few quick tips for homeowners who are either looking to increase the resale value of their homes or simply want to maintain their home’s value. First of all, you need to maintain your home. Stay on top of small things like exterior paint, servicing your air conditioner, cleaning your gutters, and making sure your pool is in working order. Stay on top of all the little things that might break down in your house. Remember, if you have deferred maintenance items, they will need to be addressed when you sell your home; you will save time and money by repairing things as needed while you’re living in the home. You should also create curb appeal. A healthy lawn with trimmed trees, bushes, and shrubs will draw the buyer’s eye. You should also add some nice landscaping and pots of colorful flowers to make your home more attractive and approachable to a buyer. Make sure that the inside of your home is painted in neutral colors.Today’s buyers are looking for move in ready homes, and the today’s palette is leaning toward the lighter neutrals—shades of beige and gray that lighten the room; if your home features bold, bright, or dark colors throughout the house, with different colors in every room, buyers will have a hard time picturing their own furnishings in the home. Just because the lime green wall works with your furniture and decor does not mean it will appeal to the next buyer. On that note, you should also keep your trim well-painted. A fresh coat of white paint on your baseboards, trim, and doors is one of the most economical ways of making your home feel new again. “Modern, updated kitchens sell homes.” Now, replacing outdated flooring is a bigger expense, but doing so can make your home very attractive to today’s buyers. If you have 12-inch tile from the year 2000 or 8-inch tile from the ‘90s, you should consider updating your flooring with something that appeals to today’s buyers. Consider wood plank tiles, hardwood floors, or new carpeting.  Many buyers are limited in the budgets for major projects—so the fewer major projects they face, the more likely they are to choose your home versus the competition. As for major renovations, the first room you should look at is the kitchen. Modern, updated kitchens sell homes.The next room you should focus on is the master bathroom.  Today’s buyers are looking for master bathrooms with a spa-like feel, so luxury showers, and modern sleek finishes have great appeal. If your budget doesn’t allow for a complete renovation, consider simply replacing counters and installing a modern backsplash. Getting rid of old kitchen appliances and replacing them with sleek modern appliances (in stainless or platinum finishes) will also make your kitchen much more alluring to today’s buyers. Finally, one low cost thing you can do to make your entire home feel like new is update your faucets, light fixtures, ceiling fans, or cabinetry hardware. If you haven’t updated these in a while, your home may look outdated. Changing out your cabinetry hardware or light fixtures is a great, inexpensive way to modernize your home. If you have any other questions about getting your home ready for the market or about our real estate market in general, give me a call or send me an email. I would be happy to help you!

Three quarters of 2016 are behind us and we are heading into the fourth quarter, my favorite time of year. As we head into the final stretch of 2016, it’s time for a Tampa Bay real estate market update. Year to date, home sales are up by 2.5% compared to 2015. In August, we actually saw a 10% increase in home sales compared to August of 2015. This year, 3,120 homes closed in the month of August while last year August saw 2,827 closings. The average sales price is up 10% as well.This August, the average sales price was $250,000; in August 2015, the average sales price was $226,000. To put that in perspective, the peak sales price was $286,000 in 2006. Although we are still a long way from reaching that peak, the Tampa market has seen a very strong, healthy gain since 2011. So what do all of these numbers mean as we head into the fourth quarter? One interesting thing about our current market is that inventory is incredibly low in the entry level and mid level price ranges…in fact, the $300,000 and under market is seeing a significant shortage of homes. However, as we go up in price, the inventory levels grow. Homes priced over $500,000 are in a buyer’s market, and the luxury market (homes priced over $1 million) has 14 months of inventory, which is a huge difference compared to lower price points. “The fourth quarter is still a great time to sell a home.” For those looking to move up, this presents a unique opportunity to sell your current lower priced home in a seller’s market and move up into a buyer’s market for your next home. The fourth quarter is a great selling season. A lot of people mistakenly believe that they need to take a home off the market and take a break during the holidays. However, here in Tampa, 7,486 homes sold in the fourth quarter of 2015. That is a full 24% of homes sold in 2015. This is the time of year when inventory drops because many sellers take their homes off the market. However, that creates a great opportunity for home sellers to list their property and face less competition. There are a few more reasons why the fall and holiday season is a great time to sell your home…more on that in future blogs! If you have any questions about our current market or about selling your home this fall, give me a call or send me an email. I would be happy to help you!

We have been getting some great questions lately from our clients and we’re going to answer one of them today. This one is about “as-is” real estate contracts and bank-owned homes. Here is the question: “Many buyers are looking to purchase a bank-owned home and see the words ‘as-is’ in the contract. What does ‘as-is’ mean to a bank vs. a buyer? A buyer might think that the home has to be in a livable condition regardless of whether the contract says ‘as-is.’ What are your thoughts?” When bank-owned properties are put on the market, the bank is making no representation as to the condition of the home. They have never lived in it, so they simply have no way of knowing.  As a buyer, it is your responsibility to do any and all inspections necessary to determine the home’s condition. Per the contract, the bank is not obligated to make any repairs. Some homes might be in such poor condition that obtaining a loan will be impossible, or the cost of the needed repairs and updates might not make sense given the price of the home—this is when the help of an experienced Buyer’s Agent is invaluable in determining whether it makes sense to place an offer in the first place, and how much to offer. “The bank is not obligated to make any repairs.” When you enter into a contract, you want to be 100% comfortable with having to assume the cost of any repairs or updates that the home is going to need.  If something major is uncovered in an inspection, it might be possible to negotiate a repair or a credit depending on the strength of your agent, and the policy of that particular bank, and the inclination of that asset manager. However, you shouldn’t assume that will always be possible. The bank is simply under no obligation to make fixes. If you have any questions for us, don’t hesitate to give us a call or send us an email. We would love to hear from you.

Pricing is one of the most crucial aspects of real estate today. Sellers sometimes come to us wanting to list their home at a high price, hoping that someone will make an offer that they can then negotiate on, or that they can come down in price later. There are many reasons to avoid overpricing your home when you list it for sale, and three main reasons stand out as the most important. Firstly, overpriced listings scare off buyers and agents. Most buyers and agents assume that if sellers were willing to take less, they simply would’ve priced their home lower in the first place, and they don’t bother looking at the home at all, or if they do look, they shy away from writing an offer. Secondly, studies show that homes that are overpriced take significantly longer to sell. We all know that the most impact your home will have is as a brand new listing in those first few weeks on the market. That is when you’ll receive the most attention from buyers and agents. If you spend those first few weeks at the wrong price, you may miss the serious buyers that have been waiting for a home like yours. “Buyers online search with a budget. Price your home too high, and buyers won’t see it.” Finally, if you overprice your home, it will simply be dropped from many of the online searches.  Because buyers have to search with a budget - they cap their online searches at a certain price range. According to the National Association of Realtors, 80% of buyers in 2015 found the home that they ultimately bought online. Pricing a home at market value rather than above will expose your home to the maximum number of qualified buyers. If you have any questions about pricing your home currently, or you’re just thinking about buying or selling in the Tampa Bay area, give us a call! We’re always happy to help you, and we look forward to hearing from you.

Zillow is one of today’s most popular online home valuation tools—the “Zestimate” is their estimation of your home’s value.  How do you know if your Zestimate is correct? Unfortunately, it probably isn’t.  I want to warn you all against relying on Zillow to make any real estate decisions, regardless of whether you are buying or selling a home. Consumers these days are increasingly relying on online home valuations, yet these online home estimates are just that—ESTIMATES.   There’s no better illustration of that than an article (click here to check it out yourself) that you might have missed in the news back in February about the CEO of Zillow, whose home ended up selling for a whopping 40% less than what his Zestimate! While Zillow can be a great real estate resource, there are few caveats. First, know that there are certain factors Zillow cannot take into account, such as an irregular lot size, patterns of buyer demand, improvements that might affect your value or unique circumstances surrounding past sales. Zillow does not derive its data from the MLS like professional real estate agents do. The MLS is the most accurate and complete source for listings. On the other hand, professional agents study the market, research the relevant sales, and have often personally been inside the competing homes, and homes recently sold. That’s the kind of knowledge you really need to determine your home’s value. “Zillow doesn’t have access to data from the MLS, cannot know about home improvements you’ve made, and does not take into account certain factors about your location and buyer demand.” Zillow even admits that their median error nationwide is 7.9%.What does that mean to you? It means half of Zillow’s Zestimates are off by more than that! You deserve better. Luxury homeowners beware, Zestimates are even more likely to be inaccurate with high end luxury homes with unique features.  We are here to help you. If you have any questions about your home’s value or want to know about improvements that will add value to your home, give us a call. We would be happy to help you!

Is your Tampa home a candidate for one of our qualified buyers? At Tampa Home Group, we go the extra mile to find the best homes off the MLS and beyond for our clients. Our whole team meets daily to discuss what our buyers want right now. That’s why we have a wish list of the top ten homes we’re looking for! If this sounds like your property, or someone else’s home, contact me right away. Tania Borelli, our Lead Buyers Agent, has asked me to share the following list with our great clients and friends: “We have a wish list of the top ten homes we’re looking for!” A pool home under 2,600 square feet in Seven Oaks 5-bedroom pool home on conservation in Grand Hampton or Seven Oaks 4-bedroom pool home on a quarter acre or more in Riverview or Lithia Updated, move-in ready renovated homes in Kingshyre and Covington Maintenance-free villas everywhere in the Tampa Bay area 4-bedroom pool home zoned for Sunlake High School 6-bedroom or more home 6,000 square feet or more with great outdoor entertainment area in Tampa Palms 4-bedroom, 3-bathroom pool home in West Meadows (preferably before school starts) 2-bedroom home under $250,000 in South Tampa 4-bedroom, 3-bedroom on over 2 acres zoned for horses  Again, if this sounds like your home, or the home of someone you know, please reach out to us at 813-907-2555 or mariahoffman@verizon.net. Do you have questions about this topic or something else related to real estate? Maybe, you have a topic for a future video? Reach out by phone or email! I’d love to hear from you.

Thank you so much to our clients that helped us in January through April. We had a fantastic start to the new year here in Tampa. So far, we’ve already helped more than 51 people buy or sell their dream home in the surrounding community. We couldn’t have done it without you! “The next 60 days will be a phenomenal time in real estate.” It’s May and spring is upon us. Do you know what that means? The busiest season in the industry is here. The next 60 days will be a phenomenal time in real estate. Families, both local and those relocating for their jobs, are looking to buy a new home with their kids wrapping up the school year. These buyers want to be under contract before the next school year starts, and they’re already out in full force. If you’re a buyer, expect to see new listings coming to the market daily. If you’re a seller, this is the time to list your property! You have the opportunity to sell for top dollar in a short amount of time. If you’re thinking about buying or selling a Greater Tampa Bay area home, please reach out by phone or email. We’d be happy to serve your local real estate needs and answer any questions you might have!