Straight from the Top!

Twenty-five billion dollars (this is what it looks like with a dollar sign $25,000,000,000) for distressed homeowners in the 49 state settlement with five of the nation’s largest lenders; Ally/GMAC, Bank of America, Citi, JP Morgan Chase, and Wells Fargo. The benefits are for borrowers whose loans were owned or serviced by these lenders.

This is a very large and complex settlement and it appears not all the details have been worked out, but based on the research I have done, it appears the settlement will benefit homeowners and borrowers in several areas including but not limited to:

· Allow thousands of distressed homeowners to complete loan modifications and stay in their homes.

· Require lenders who are handling the foreclosure and loan modification programs to complete them accord to standardized procedures and predetermined timelines.

· Lenders are required to provide a single point of contact

· Loan servicers are required to speed up and consolidate the sales process on short sales

· Provide funds to certain victims of foreclosures

Stay tuned and we will continue to update you with the information as we get more information from the State Attorney’s office.

Located at the East end of Bloomingdale Avenue, Twin Lakes is one of the best blends of old and new Florida. The community is located nestled between two lakes, Lake Michaela and Lake Sterns. Lake Michaela is the center of it all with a one mile walking path around the private lake, and it is stocked to make some great fishing for the residences and their guest. Take the walk and you see Florida nature at its best, with numerous species of birds there at any given time. The private park covers 15 acres with is shaded by the majestic 100+ year old massive oaks.

There are currently 9 active listings in Twin Lakes with an average list price of $258,000. The median list price currently $199,900. The average list price per square foot is currently at $101.

Twelve homes have sold in Twin Lakes this year with sale prices ranging from $148,000 to $445,000. The median sales price in Twin Lakes is $248,000. The average sales price per square was $101.25 and the average sales price was $271,667.

Twin Lakes is a nice secluded community where Bloomingdale Avenue dead ends. To Tampa, it’s a straight shot across to Bloomingdale Avenue to I-75 and the Crosstown Expressway, or the alternative route is Lithia Pinecrest. To head toward Orlando Lake just go straight North to access I-4.

It you need demographic information about the area, or if you are interested market data in any other areas, please let me know and we would be happy to supply you with that information.

Brandon Brook is a nice deed restricted community with some great deals on the market right now. The big thing is there are some incredible deals there right now. There are 10 active listings on the market, and 8 of the 10 are short sales, and some of those are at really great prices for owner occupant or the investor.

The average list price in Brandon Brook currently is just over $90,000. The median price is about $89,000. The average price per square foot is $59.40. Overall, the asking prices are ranging from $80,000 to just over $107,000. Those are some really good prices. It is a great area for military buyers, of which we see a lot of USAA members in the area, and for the investor as a rental, primarily because of the quality of the neighborhood and the location.

Brandon Brook is just off State Road 60 in Valrico, with easy access to I-4, I-75, the Crosstown Expressway and other major routes to make it an easy commute whether you are headed into Tampa or MacDill Air Force Base, or towards Orlando or Lakeland to the East.

The market in Brentwood Hills seems to be getting better with the coming year. The average sales price in Brentwood Hills has increased quarter by quarter this year, from the first quarter all the way through the middle of December.

The strongest quarter in the number of homes sold was also the third quarter with 12 homes closed during that period with an average sales price of $68.40 per square foot of living area. Pool homes are averaging about $5-6 per square foot more than non-pool homes. That equates to about $11,000 to $13,000 more for a pool home. What’s a little surprising also is that over 30% of the buyers were cash buyers.

Also is a chart showing all home in the Valrico (33594 zip code) so you can compare what’s happening to Valrico as a whole to Brentwood Hills. Overall, Brentwood Hills seems to be doing well. If you need additional information on market conditions or would like a more detailed update, please let me know.

Good news if you live in New Tampa.  New Tampa (33647 area code) includes several very nice communities, and based on recent sales, the market is certainly imporving there.  New Tampa includes Arbor Greene, Basset Creek, Cory Lake Isles, Cross Creek, Easton Park, Grand Hampton, Hammocks, Heritage Isles, Hunters Green, Live Oak Preserve, Pebble Creek, Tampa Palms, Tuscany, West Meadows and some other nearby communities.

The average home sold there in the second quarter as compared to the first quarter in 2011 was up 4.8% in just one quarter.  What's ever more amazing is that from the 2nd quarter to the 3rd quarter the average sales price jumped another 10.8%.  Those numbers are incredible or a nine month period!

The average sales price for the 3rd quarter 2011 is the highest since 2009 and the number of homes sold for the 3rd quarter was one of the strongest quarters in the last three years.

If you are considering buying or selling in the near future, now may be the time.  If you are considering up-sizing, I would absolutely give it close consideration.  Whether buying or selling anywhere in the Tampa area, or if you just want a market update for your specific neighborhood, please give me a call.

This is why I tell everyone there are some good investments out there.  This is the actual speadsheet analysis for a contract we just wrote on a home for sale in Valrico to be used as an investment.  The fair market value of the home as a rental is $1300, and from that, I deducted the property management fees to get to a net rental income amount.  It yields an estimated cash on cash return of over 22%, and an estimated IRR over the a five year period of 22% after hiring a professional property management company.  How good could it be?  Have prices stabilized?  If you can earn 22% ROI, how much lower could they go?  Personally, I don't think they can drop any more because what would an investor earn on a real estate investment at that point?  Maybe 30 or 40%?  Now is the time to wisely buy Florida real estate in the Tampa Bay area!

There are lots of incredible deals on homes in the Tampa Bay area, especially in the waterfront condo market, which seems to have taken the biggest hit when the real estate market dropped a few years ago.

The point is, there are some incredible deals on both owner occupied and investor homes in the Tampa Bay area.  You just need to know how to shop for the best deals.  If you are interested in buying or selling a home anywhere in the Tampa Bay area, or you need property management group, please let me know.

We are continuing to modify our web site to make it easier and easier for our clients to use.  Recently added subdivisions searches include Tampa Palms, Arbor Greene, Brandon Brook, Brentwood Hills, River Hills, Little Harbor and more.  We will be continuing to add, modify and restructure this site to suite you, our valued clients.

Please try our subdivision searches and let me know if you find them beneficial.

I just ran the numbers on a house for sale to be used as residential investment property. The offer is $100,000 with 20% down and the balance financed at 5%. I plugged all the information into an Investment Analysis Program that I wrote a few years ago, but haven’t used again until recently because I stopped buying when the bubble started to form.

Using some very conservation assumptions, including deducting the cost for a professional property manager, it still has an estimated yield of over 20% Cash on Cash Return, and also over 20% IRR! The investment market is absolutely back. We expect lots of REO and short sales to continue to come on the market for 2012 and 2013. The wise investor will be patient and watch and wait for the right property. You have to know your numbers to be a good investor, don’t chance it. Study the rental market as well as what sells. Two things have to be right for an investment to be good; income and expenses. Expenses can be affected by a lot of factors you may not pick up on right away if you are an “outsider”, such as CDD’s and insurance issues, as well as maintenance issues if it’s an older home.

If you are going to invest and make sure your agent understands and can assist you in determining Cash on Cash and the IRR, and you need to understand it yourself for investment comparison purposes.

I want to wish you all a Merry Christmas, a Happy New Year, and good luck on selecting your investment properties in 2012.

Investors are coming out of the woodwork. I don’t mean the get-rich-quick flippers, but the long-term genuine investors. For several years, I had quit buying investment homes and advised my clients to do the same, but within the last year, prices have dropped and the demand for rental property continues to increase to the point where real estate can actually be a great investment again.

What kind are rate are you willing to accent on your money? Do you think 9% is good? How about 12%? The properties are out there again after several years of an inflated market, but invest wisely. I can’t tell you the number of people over the years who have told me, “We just bought a great investment property!” Then I ask about the IRR, Cash on Cash Return and other typical questions and they realize they have no idea if they make a good investment or not. How do you compare investments to determine which is better?

It’s time to invest, but it’s time to invest wisely. Make sure you know the numbers before you make an investment.

What’s in a brand? I’ve been asked numerous times over the years as to why I picked the CENTURY 21 name as opposed to anyone else? The answer is “The Brand”. It’s not just the size of the company or the marketing power. It’s the dependability and consistency and training and all the other things that consumers can depend on. It’s reliability.

Why do so many people go to McDonalds or Lowes or any other reputable major national brand? I think it has a lot to do with the fact they know they can get a consistent high quality product at a very good price. The key word is consistent, time after time after time.

Why to consumers continually come back to CENTURY 21? I’m sure it’s for the same reasons. A consist high quality and highly trained agent, and a service that is backed by the biggest name in the real estate business. A lot of that is the pride that the agents take in living up to that name. They really feel obligated to deliver the best service because of the name of the BRAND and support behind them.

Here’s what I’m really proud of; each of our offices has an unbelievable Quality Service Rating based on an independent survey send directly to our clients and back to the survey company. The survey numbers range from 96%-98%, and by industry standards, an 85% is considered to be incredibly good. I’ve very proud of our agents and managers for another outstanding year and living up to the name of the BRAND, CENTURY 21!