Jana Hristova's Blog

What's selling these days?

Jana Hristova (Best Deal Realty) — Fri, 03 Jul 2009 18:53:59 -0700

I have been considering doing short sales lately and I read quite a bit on this forum. I even signed for Broker Bryant and Wendy's short sale seminar. I found opposing opinions on whether it is worth doing short sales so I decided to do my own research.

I looked at last month sales (MLS only) in Riverview, FL. True, this is not scientific research but it is based on facts.

So, here is it.

Last month sales: 112

Short sales: 26

REOs: 32

New homes: 18

Normal sales: 36

I used to work in retail and from there I learned that it's worth stocking on the merchandise that sells.

What do you think?

$103900 / 4br - BANK-OWNED 4BR,2BA,2CG, NO CDD FEE COMMUNITY, LOTS OF UPGRADES INSIDE

Jana Hristova (Best Deal Realty) — Sat, 30 May 2009 11:33:39 -0700

Single family home at this price! Don't miss this 4BR, 2BA, 2CG, 1544 sq.ft. bank-owned home, located in a great community in Riverview with lots of ammenities and activities but without the CDD fees. Located just off Big Bend Rd and close to shopping, good schools and goft course. This home features lots of upgrades like granite countertops in the kitchen, appliances, garden tub and double vanities in the master bath and more. USDA 100% financing is available for this home, they just increased the income requited to qualify for this loan. Call 813-226-7333 for a showing appointment or more information, Stan or Jana, Best Deal Realty. Property ID: 46547
For more GREAT DEALS on bank-owned homes visit: Tampa Real Estate Book

CALL 813-226-7333

$125000 / 4br - BANK-OWNED 4BR, 3BA,2CG, 2168 sq.ft. NO CDD COMMUNITY, CORNER LOT

Jana Hristova (Best Deal Realty) — Sat, 30 May 2009 11:27:38 -0700

BIG DEAL, SMALL PRICE on this Bank-owned 4BR, 3BA, 2CG, 2168 sq.ft. home, located in a desirable neighbourhood in Riverview, just off US-301 and Big Bend, close to shopping, good schools and just 20 min to downtown Tampa. This homes needs some TLC (paint and cleaning) but at this price -$58 per square feet it is worth it. The community has no CDD fees, keeping your monthly payments low. This home is approved for USDA 100% financing, they just increased the income level required. Call Stan or Jana for a showing appointment and more information. Property ID: 46546
For more GREAT DEALS on bank-owned homes visit: Tampa Real Estate Book

CALL 813-226-7333

$226000 / 4br - BRAND NEW 4BR/2BA/2CG,2350sf,Builder Inventory Home on Pond

Jana Hristova (Best Deal Realty) — Fri, 29 May 2009 10:28:44 -0700

GORGEOUS! BRAND NEW 4BR, 2BA, 2CG, 2350 sq.ft., builder inventory (ready now) home on a big lot on pond with many upgrades: cherry kitchen cabinets, all stainless steel kitchen appliances, master bath with dual sinks, garden tub and separate shower, tiles in all wet areas, huge formal dining, living and family rooms, big covered and screened lanai overlooking the pond and more. Builder pays closing costs and offers financing through preferred lender. Super convenient location near US-301 and I-75, close to schools, shopping and dining in popular Riverview. CALL 813-226-7333, Stan or Jana, BEST DEAL REALTY, for a showing appointment.

From Tampa New Homes

Click here for Tampa foreclosures and bank owned homes

$175000 / 4br - BRAND NEW 4BR+Den/2.5BA/2CG,1941sf, Builder Inventory Home, NO CDD

Jana Hristova (Best Deal Realty) — Fri, 29 May 2009 10:24:43 -0700

GREAT DEAL! BRAND NEW 4BR+Den, 2.5BA, 2CG, 1941 sq.ft., 2-story, builder inventory (ready now) home with no backyard neighbors and tons of upgrades: 42" cherry kitchen cabinets with crown molding, granite countertops in kitchen and master bath, all stainless steel kitchen appliances, washer and dryer, master bath with dual sinks, garden tub and separate shower, 18" tiles in all wet areas, upgraded carpet, neutral interior color, all blinds, covered lanai and more in a community with pool and cabana, and NO CDD fees. Builder pays $7,000 towards closing costs and offers financing (possible 100% USDA mortgage) when using builder's mortgage company. Super convenient location near I-75 and US-41 (25 minutes to downtown Tampa, St Pete and Bradenton), close to schools, shopping and dining. CALL 813-226-7333, Stan or Jana, BEST DEAL REALTY, for a showing appointment.

From Tampa New Homes

Tampa Foreclosures and Bank Owned Homes

$221000 / 4br - SPACIOUS 4BR/2BA/3CG, GREAT LOCATION, NO CDD FEES!

Jana Hristova (Best Deal Realty) — Wed, 27 May 2009 10:06:10 -0700

Twice the room, half the price - a 4BR, 2BA, 3 car garage, 2600 sq.ft. home in a great Valrico neighborhood with tons of upgrades - stainless steel appliances, tile in wet areas, built-ins, kitchen island, garden tub with separate shower in master bedroom- for less than the price of an ordinary home. NO CDD FEES! The neighborhood is close to shopping and great schools. CALL NOW 813-226-7333 Stan or Jana for a showing appointment, you won't be disappointed. Property ID: 46542
For more GREAT DEALS on bank-owned homes visit: Tampa Real Estate Book

CALL 813-226-7333

$237000 / 4br - BANK-OWNED 4BR/2.5BA/2CG, BOATING COMMUNITY

Jana Hristova (Best Deal Realty) — Wed, 27 May 2009 10:03:35 -0700

This bank-owned 4BR, 2.5, 2 car garage home is just footsteps to Tampa Bay. Take morning walks with your dog along the paths in this gorgeous community with boat access to the Tampa Bay with swimmings pools, tennis court, club house, planned activities for the kids and adults, spa and restaurant. The home need some TLC. Call 813-226-7333 for a showing appointment, Stan or Jana, Best Deal Realty Property ID: 46543
For more GREAT DEALS on bank-owned homes visit: Tampa Real Estate Book

CALL 813-226-7333

$209900 / 4br - BANK-OWNED 4BR/3BA/3CG - NO CDD, Lots of Space

Jana Hristova (Best Deal Realty) — Tue, 26 May 2009 11:34:04 -0700

BIG DEAL with a small price tag! Bank-owned 4BR, 3BA, 3 car garage, 2613 sq.ft., one level home, plenty of space, open floorplan, great condition and it is in a desirable Riverview neighborhood of well-maintained homes and lawns. Located close to I-75 and US-301, close to good schools and shopping, 20 min drive to downtown Tampa. CALL 813-226-7333 for a showing appointment, Stan or Jana Property ID: 46540
For more GREAT DEALS on bank-owned homes visit: Tampa Real Estate Book

CALL 813-226-7333

$239900 / 5br - GORGEOUS BRAND NEW 5BR/3BA/3CG, 2526 sq.ft. HOME

Jana Hristova (Best Deal Realty) — Tue, 26 May 2009 11:32:08 -0700

LENDER-OWNED and BRAND NEW - 5BR/3BA/3 CAR GARAGE, 2625 sq.ft., gorgeous inside - open floorplan, granite countertops, garden tub in master bedroom, gourmet kitchen. This home has all the extras thrown in and can be yours for less than the price of a much more modest home. Located close to I-75 and US-301, in a desirable community with two swimming pools, playground, tennis court, clubhouse, elementary school onsite and more. CALL now at 813-226-7333 for a showing appointment, Stan or Jana, Best Deal Realty

Property ID: 46541
For more GREAT DEALS on bank-owned homes visit: Tampa Real Estate Book

CALL 813-226-7333

$126000 / 4br - BANK-OWNED 4BR+Loft/2BA/2CG, 1754sq,SF Home, Pond View (Riverview)

Jana Hristova (Best Deal Realty) — Sun, 24 May 2009 09:16:29 -0700

BANK-OWNED 4BR+Loft, 2BA, 2CG, 1754 sq.ft., single family home on a pond homesite, good condition, covered lanai overlooking pond, master bedroom downstairs, the other 3BRs plus loft on the second floor. This home is ready for a quick closing. Located in well-maintained community, close to I-75 and US-301 and 20 min to downtown Tampa, elementary school in the community, pools, cabana, palygrounds and more. For a showing appointment CALL, 813-226-7333, Stan or Jana, Best Deal Realty.

Property ID: 46536
For more GREAT DEALS on bank-owned homes visit: Tampa Real Estate Book

CALL 813-226-7333

$134900 / 4br - Bank owned 4BR, 3BA home, no CDD fee community

Jana Hristova (Best Deal Realty) — Sat, 23 May 2009 09:49:37 -0700

This home will not last long - 4BR, 3BA, 2CG, 2329 sq.ft., built 2005, located in a community without CDD fees. This area is just 20 min from downtown Tampa, close to shopping, restaurants, future brand new mall and hospital. Call 813-226-7333 for a showing appointment. Property ID 46534.

From Tampa Real Estate Book

CALL 813-226-7333

$132000 / 3br - BANK OWNED 3BR, 2BA, 2CG, NO CDD FEES -RIVERVIEW

Jana Hristova (Best Deal Realty) — Sat, 23 May 2009 09:47:05 -0700

Great deal on this 3BR, 2BA, 2CG bank owned home, located in a community without CDD fees, close to good schools, shopping, restaurants and parks. This home features spacious rooms, kitchen island, corian countertops in the kitchen, garden tub in the master and other upgrades. Call 813-226-7333 for a showing appointment. Property ID: 46535

From Tampa Real Estate Book

CALL 813-226-7333

$68900 / 2br - Bank Owned 2BR, 2.5BA, 1 Car Garage Townhome, Brandon

Jana Hristova (Best Deal Realty) — Fri, 22 May 2009 18:25:19 -0700

This 2BR, 2.5BA, 1CG townhome is located close to I-4, and I-75. It features open floorplan with high ceilings, formal dinning area, lanai and one car garage. It needs TLC. Call 813-226-7333 for a showing appointment. Property ID#46533.

From Tampa Real Estate Book

CALL 813-226-7333

$142900 / 4br - Bank owned home, 2122 sq.ft., no CDD fees, Brandon Area

Jana Hristova (Best Deal Realty) — Fri, 22 May 2009 18:21:14 -0700

Great price for this 4BR, 2.5BA, 2122 sq.ft. home, built in 2005, located in a community without CDD fees, close to downtown Tampa and Brandon. Brand new schools in the area. This two story home has plenty of space, large kitchen and nice backyard. Call 813-226-7333 for a showing appointment. Property ID#46532

From Tampa Real Estate Book

CALL 813-226-7333

Making the right offer on bank owned properties

Jana Hristova (Best Deal Realty) — Thu, 16 Apr 2009 16:48:46 -0700

Bank owned properties are in hot demand these days. Many buyers are finding themselves in multiple offer situations, even in this market.

So, how do you determine the optimal price to pay - a price that will assure that you get the property and at the same time don't overpay.

Your real estate agent should be able to give you some information that you will need:

Median , low and high list to sold price ratio for homes that are similar and are located in the same neighborhood or area and are bank owned.
Terms of sale: cash, fha, conventional? I would consider that the buyer asked for 3% contribution to closing costs because that is what most banks would accept.
Consider the condition of the home - some bank-owned home are in very bad shape but some are in move-in condition. Most buyers are willing to pay more if the home is in great condition and that means more competition.

Once you all this information it is easy to determine what is the best offer to make.

Visits us at Tampa Real Estate Book for bank owned properties in Tampa Bay.

Is this a buyer's market?

Jana Hristova (Best Deal Realty) — Tue, 14 Apr 2009 11:36:11 -0700

Lately, I avoid discussing what I do for a living because I get the same reaction, "It must be tough, how do you survive in this market?"

The reality however is quite different. Most buyers, when we start looking, are surprised that they can make reasonable offers and not get the house. Even though we are in a buyer's market the properties available to buyers who wants to close within 30 days and are priced well are not many. The market seems bloated with short sales , which are ignored by most buyers.

To determine if we are in a buyer's market let's look at one important measure of the health of the real estate market: inventory depletion, which is simply a measure of how long it will take to sell the homes that are currently on the market.

For example, on April 14th , 2009, the bank owned single family homes in Riverview are 20, short sales - 205, regular listings- 250.

In the last 3 months, 207 single family homes sold in Riverview, only 37 of those 207 were short sales.

Currently, there are 564 active listings, 205 of those are short sales.

Let's calculate the inventory depletion with short sales and without:

Inventory depletion with short sales = 564 active listings ÷ 69 homes sold per month = 8 months inventory depletion

Inventory depletion without short sales = 270 active listings ÷ 56 homes sold per month = 4.82 months of marketing time

The definition of buyer's market is " marketing time of six months or more." The conclusion is clear.

Visit us at Tampa Real Estate Book for bank owned homes in Riverview and Tampa Bay.

Visit Best Deal Home for builder inventories and new construction homes in Tampa.

March 2009 Tampa Bay Real Estate Market Report

Jana Hristova (Best Deal Realty) — Fri, 10 Apr 2009 14:38:35 -0700

February, 2009 Total Units Sold: 2472

City/Area Average Sold Price Price per Sq.Ft.

Apollo Beach $248,652 $107

Clearwater $207,533 $117

St. Petersburg $154,112 $95

Tampa $184,243 $91

Brandon $146,803 $74

Largo $153,717 $89

Palm Harbor $216,000 $102

Spring Hill $116,000 $63

Town 'n' Country $108,000 $66

Temple Terrace $130,000 $74

Thonotossasa $443,000 $105

Dunedin $172,000 $103

Dover $268,000 $106

Greater Carrollwood $109,000 $69

Gibsonton $110,000 $65

Holiday $70,000 $54

Land O' Lakes $182,000 $85

Lutz $272,000 $106

Lithia $277,000 $106

New Port Richey $121,000 $67

Oldsmar $182,000 $97

Odessa $369,000 $123

Pinellas Park $102,000 $81

Plant City $134,000 $75

Riverview $166,000 $79

Ruskin $122,000 $64

Safety Harbor $219,000 $114

Seminole $200,000 $109

Seffner $143,000 $82

Sun City $113,000 $71

Tarpon Springs $173,000 $105

Valrico $169,000 $84

Westchase $288,000 $128

Zephyrhills $80,000 $58

This report reflects only resale homes.

Tampa Bay New Homes for Sale

How do you compare loans from different lenders?

Jana Hristova (Best Deal Realty) — Thu, 12 Mar 2009 15:46:25 -0700

The most common way for a lender to try to get your business is by quoting a low interest rate but including higher points and other lender fees in the Good Faith Estimate and underestimating or not even including some non-lender fees..

One of the best ways to compare two loans is to look at the APR (annual percentage rate) because the APR is a picture of the total cost to borrow money (including discount points and other lender fees) High APR indicates that more lender fees were included in the loan.

When you shop for a mortgage the lender or broker will send you a GFE (Good Faith Estimate), which is just that an estimate. The estimate has lender fees, which the lender will estimate pretty accurately and non-lender fees which will be estimated based on average cost . If the lender underestimated the non lender fees then her total closing costs will be lower.

If you get a GFE from two lenders:

Lender A:

Discount points: $1,500

Appraisal: $ 200

Survey: $250

Underwriting: $500

Processing: $300

Title search: $200

Total: $2,950

Lender B:

Discount points: $1,200

Appraisal: $ 400

Survey: $350

Underwriting: $500

Processing: $300

Title search: $350

Total: $3,100

Which lender are you going to pick? If both lenders are offering the same interest rate, most buyers will pick the first lender based on total closing costs when in fact the second lender has lower closing costs.

Lender A fees: $2,300

Lender B fees: $2,000

Lender B closing costs look better because he underestimated the non-lender fees.

That is why a quick way to compare two identical loans is to look at the APR number or call your Realtor.

Thinking of buying a home in Tampa Bay, visit us at Tampa Real Estate Book

February 2009 Tampa Bay Real Estate Market Report

Jana Hristova (Best Deal Realty) — Wed, 04 Mar 2009 12:32:55 -0800

February, 2009 Total Units Sold: 1918 Pending Sales: 5568

City/Area Average Sold Price Price per Sq.Ft.

Apollo Beach $174,769 $88

Clearwater $178,093 $116

St. Petersburg $146,000 $98

Tampa $166,000 $87

Brandon $155,000 $78

Largo $147,000 $91

Palm Harbor $173,000 $100

Spring Hill $109,000 $59

Town 'n' Country $105,000 $63

Temple Terrace $123,000 $77

Thonotossasa $171,000 $58

Dunedin $156,000 $106

Dover $136,000 $66

Greater Carrollwood $147,000 $78

Gibsonton $140,000 $63

Holiday $64,000 $49

Land O' Lakes $183,000 $83

Lutz $258,000 $105

Lithia $273,000 $105

New Port Richey $99,000 $64

Oldsmar $245,000 $117

Odessa $414,000 $111

Pinellas Park $103,000 $82

Plant City $112,000 $69

Riverview $160,000 $82

Ruskin $144,000 $77

Safety Harbor $310,000 $118

Seminole $168,000 $104

Seffner $184,000 $91

Sun City $115,000 $76

Tarpon Springs $203,000 $109

Valrico $182,000 $82

Westchase $283,000 $129

Zephyrhills $84,000 $62

This report reflects only resale homes.

Tampa Bay New Homes for Sale

Florida state has made it easy to compare home insurance rates

Jana Hristova (Best Deal Realty) — Mon, 02 Mar 2009 14:05:38 -0800

The new state-run website Shop and Compare Rates allows consumers to compare apples with apples when it comes to insurance rates in Florida. The website compares average approved insurance rates from dozen of insurance companies for the same type of home with the same coverage for all Florida counties.

This type of comparison is important for two reasons:

-It shows how much money can be saved by shopping for insurance rates

-It gives an idea to a potential buyer what the average insurance rates are in all Florida counties.

Here is more information on home insurance and property taxes in Tampa Bay.

$109,000 Brand new 3BR, 2BA,2CG - coastal community in Ruskin, FL

Jana Hristova (Best Deal Realty) — Thu, 26 Feb 2009 14:18:23 -0800

LOWEST PRICED BRAND NEW 3BR/2BA/2CG home, in a terrific location, open floorplan, high ceilings, built-ins, breakfast nook, garage plus additional parking that's within the sound of the surf and the smell of the water. This home is a stone throw to two beaches, marina, Little Manatee River and a State Park. There is plenty to do here - swimming, boating, biking, jogging, fishing, bird watching and more. Call 813-223-7333 for a showing appointment, Best Deal Realty

Click here for more information on this new home

More info on Ruskin

Other homes for sale in Ruskin

$160,000 Brand new 3BR, 2BA, 2CG home in Riverview Ready Now!

Jana Hristova (Best Deal Realty) — Wed, 25 Feb 2009 13:39:18 -0800

Brand new construction home, ready-to-move-in, 3BR, 2BA, 2CG, 1855 sq.ft., 42" maple cabinets in the kitchen, black appliances, tile in all wet areas, dual vanities in the master bathroom, garden tub with separate shower stall. Builder pays all closing costs, this home qualifies for the USDA 100% financing.

Call 813-226-7333, Best Deal Realty for a showing appointment.

More Tampa new construction homes

Tampa Bay bank-owned homes

To buy or not to buy?

Jana Hristova (Best Deal Realty) — Tue, 24 Feb 2009 15:45:39 -0800

This is the renters' dilemma nowadays. Is it better to continue to rent and wait to see if prices drop further or buy and risk to see the value of their home go lower.

Let's leave aside the direction of the home prices (that's anybody's guess). Here is a comparison between the monthly payments and other expenses for a 2BR/2BA/1CG townhome in N. Riverview , price $89,000, interest rate 5.5%, FHA , 5.99% ARP.

	If you rent	If you own
Monthly rent/mortgage	$950	$504
HOA	$0	$284
Water	$70	$0 -water is included in HOA
Taxes	$0	$225 -current taxes, should decrease with homestead
Insurance	$0	$0 - building insurance included in HOA
Mortgage Insurance	$0	$42
Total	$1020	$1055

The difference between renting and buying is $35 per month. This does not take into consideration any additional tax advantages and eventual equity build up.

Get more information on this home and other Tampa Bay bank-owned townhomes under $120,000.

Million dollar challenge

Jana Hristova (Best Deal Realty) — Mon, 23 Feb 2009 15:29:15 -0800

Are we hardwired to do the wrong thing when it comes to investments?

I watched CNBC 's Lunch Hour show today and saw the award for the Million Dollar Portfolio Challenge.

The finalists weren't what I expected - young men with appetite for risk. Quite the opposite, one of the finalists was a lady in her 50s. When Bill Griffeth, one of the anchors for the Lunch Hour, asked her what was her strategy, she answered simply: "I just traded the opposite of everybody else."

The contrarian approach is not a new idea but it is underused because it is incredibly difficult to implement. It requires acting against everybody else's advice and against our natural instinct to go with the crowd.

This made me think of real estate and the fear that most home buyers have today - the fear that their home will be worth less tomorrow if they buy now. This is the fear that is hardwired in us all, the fear to go against the flow and to make a mistake.

Maybe, listening to the gut instinct is good when it comes to love but really bad when it comes to investments, real estate included.

Use the new first-time buyer $8,000 tax credit for downpayment

Jana Hristova (Best Deal Realty) — Sat, 21 Feb 2009 13:13:54 -0800

The new first-time buyer tax credit is not a downpayment but could be used for downpayment with planning.

First, here are the main points in the new tax credit:

The amount of the tax credit is up to $8,000 (10% of the home value up to $8,000.)
This is a tax credit not a deduction, which means that if you don't owe taxes, you will get a check for the full amount.
Income limit for married couples under $150,000 of MAGI, single filers under $75,000.

*MAGI - Modified adjusted gross income

The new tax credit does not have to be repaid.
The tax credit can be claimed on 2008 form even if the purchase took place in 2009.
This tax credit is for first-time buyers - you are considered first-time buyers if you have not owned a home in the previous 3 years.

Here is how to use the tax credit for a downpayment:

If you are planning to buy a house in 2009, and claim the tax credit in 2010, you can reduce the tax withholding from each paycheck and save the money for downpayment. The important point is that if you reduce your withholding and do not buy a house you will owe money in 2010.

Visit our blog for more information on buying a home in Tampa Bay, Florida - including info on choosing the best location, fees and costs when buying a home, ect.

Search Tampa Bay real estate listings or new construction inventory homes.

*This information is for general guidance only. It does not constitute the provision of tax advice. Please consult your tax professional for more information.