What the heck is Millage? - 06/30/07 11:45 AM
I was out with some customers today, and they were asking me about the property taxes on a home they were interested in. I mentioned what the millage was for the county, and they said they did not understand what that word meant. Millage is a part of the equation local governments use to determine how much property tax you are required to pay. Like millipede and millenium the first half of the word is related to "thousand". For tax purposes, the millage is what you pay for every $1,000 worth of assessed value the county property appraiser feels your home … (5 comments)

Florida Now Has A State Site Where You Can Compare Insurance Rates - 06/29/07 02:53 PM
In an effort to help Floridians find affordable insurance coverage for their home, the state has set up a site where you can search and compare rates in all of our counties. You will see what the rates should be for a typical Florida home. Considering that companies are still asking for rate increases, perhaps this new site will be a useful tool for many people living here. You can access this site by clicking here: http://www.shopandcomparerates.com/ I have begun to lose faith that the state will ever get a handle on the insurance situation here, but it does not hurt … (2 comments)

5 Florida Property Insurers Ask For Double-Digit Price Increases - 06/29/07 02:31 PM
I just have received word that 5 insurance companies in this state are requesting double-digit rate increases for a variety of reasons. Auto Owners, Cincinnati Insurance, Florida Farm, Hartford, and Metropolitan Property and Casualty are the companies involved so far. Can others be far behind? The state has to approve any increases. Wasn't insurance reform supposed to stop or slow this. So far I have seen no impact on my customers. Let's hope that the property tax reform that was recently approved does not go down the same path.
I will let you know if I hear any more news on … (4 comments)

Florida Governor Signs Legislation That Will Require the Licensing of Home Inspectors - 06/28/07 09:15 PM
Finally after years of trying, there is finally a law (SB 2234) that will require that home inspectors be licensed by the State of Florida. Most of the certified home inspectors that I know have long asked for such a requirement, but it never seemed to get anywhere. This year the Florida Association of REALTORs® also called for the law's passage. As things are now, anyone can be a home inspector. All they need to do is get a business license and off they go. No state license, no certification, no testing, nada. I could do it. And trust me, you … (5 comments)

Double-Wide Mobile Home Available For Purchase in Zephyr Shores Subdivision near Zephyrhills, Florida - 06/28/07 12:57 PM
THIS HOME HAS BEEN SOLD. CALL ME ABOUT SIMILAR PROPERTIES. I have listed this 1973 double-wide mobile home in Zephyr Shores, one of the area's nicest 55+ subdivisions. This is not a rental park. YOU OWN THE LAND HERE! It features 2 bedrooms, 2 baths, and 1,152 square feet of heated/cooled living space. It also has a Florida Room, a recently installed screened patio, a carport, and a large workshop/utility room. It is being sold furnished, so just bring your toothbrush and move right in. The home is on one of the largest lots in the subdivision. Low fees, currently just … (0 comments)

Freddie Mac Reports Another Very Slight Drop In Average Mortgage Interest Rates - 06/28/07 12:42 PM
Today  Freddie Mac reported that nationally the average mortgage interest rate for 30 year fixed-rate mortgages was 6.67% (6.63% in the southeast), down from 6.69% a week ago. The average interest rate for 15 year fixed-rate mortgages was 6.34%, down from 6.37% last week.
After a month and a half of increases the rates dipped again due to the continued housing recession. Sales of existing homes in May 2007 were the slowest they have been since June 2003 and the number of months that homes stayed on the market averaged 8.9, the highest since June 1992! It was reported that prices … (0 comments)

Consumer Confidence of Floridians Rises Slightly According to The University of Florida - 06/27/07 05:00 PM
GAINESVILLE, Fla. — Consumer confidence in Florida rose one point to 83 in June, one month after dropping to its lowest level in 19 months, a new University of Florida study finds.
The small increase was due to increased optimism over future economic conditions in the United States. Expectations about U.S. economic conditions over the next year rose two points to 76, while expectations of U.S. economic conditions over the next five years rose six points to 84.
Perceptions of personal finances now compared with a year ago remained the same at 79, while expectations about finances one year from now … (0 comments)

May Existing- Home Sales Show Market is Under Performing - National Association of REALTORS® - 06/25/07 05:30 PM
WASHINGTON, June 25, 2007 -
Existing-home sales were essentially unchanged in May, according to the National Association of Realtors®.
Total existing-home sales – including single-family, townhomes, condominiums and co-ops – eased by 0.3 percent to a seasonally adjusted annual rate1 of 5.99 million units in May from an upwardly revised pace of 6.01 million in April, and are 10.3 percent below the 6.68 million-unit level in May 2006.
Lawrence Yun, NAR senior economist, said the market softness is understandable. “I think psychological factors are currently the biggest drag on the housing market, in addition to a disruption from tighter … (0 comments)

Florida's Existing Home Sales, Median Price Down in May 2007 - FAR News Release - 06/25/07 05:07 PM
ORLANDO, Fla., June 25, 2007 – Statewide sales of existing single-family homes in Florida totaled 12,607 in May and were more in line with activity in May 2002 – prior to the housing boom years – than the May 2006 figures of 19,072 homes sold for a 34 percent decrease in the year-to-year comparison, according to the Florida Association of Realtors® (FAR).
Florida’s median sales price for existing single-family homes last month was $237,000; a year ago, it was $250,100 for a 5 percent decrease. The median is the midpoint; half the homes sold for more, half for less. In May … (4 comments)

Is a Will the Way to Go? - 06/25/07 10:49 AM
In the past two years I had 2 home sales that differed from most of the others. Both involved the deaths of two different sellers who were unmarried.
In Case A the seller died before putting her home on the market. After her death the seller's family was able to list her home with me immediately, and within a day I had a buyer who made an offer that was accepted. After financing was obtained and inspections were done, the sale closed without a hitch after just a few weeks.
In Case B I had put the home on the … (3 comments)

Why Property Taxes Can Go Up When You Buy a Home - 06/25/07 10:40 AM
Frequently buyers ask me what a home's property taxes are. This information is all but useless. After a sale, the property taxes on a home in Florida always change. In a very few cases they decrease. However, for most people, they go up. There are several reasons for this.
If the home is brand new, the previous year's taxes may have been calculated on just the vacant lot, which obviously is worth less than a lot with a home on it. For example, if the lot by itself had property tax charges of $300 for 2005, and the building on it … (0 comments)

County Property Appraiser Websites - A Great Free Resource for Sellers, Buyers, and Homeowners - 06/24/07 03:12 PM
Sometimes we complain that government entities are useless! However, for buyers, sellers, and homeowners in general, there is a great resource out there at your fingertips. And it is free and convenient! It is offered by your local county property appraiser. Their internet sites have a variety of functions that offer you a bounty of useful information. Some of the things you can find there include:
Your home's current assessment of value. Your home's current exemptions (Homestead Exemption, for example). List of your home's features that were used to determine your assessment. Past sales of your home, and often, recent sales … (0 comments)

Congressmen Introduce Bill To Require That Future Mobile Homes Be Equipped With Weather Radios - 06/23/07 05:33 PM
June 21, 2007: Ellsworth Introduces CJ’s Home Protection Act
WASHINGTON - Rep. Brad Ellsworth was joined by Reps. Spencer Bachus (R-AL), Kay Granger (R-TX), and Dennis Moore (D-KS) in introducing legislation requiring manufactured and mobile homes to be equipped with weather radios to warn residents of severe weather. Ellsworth, Bachus, and Moore joined tornado survivor and advocate Kathryn Martin in unveiling CJ's Home Protection Act during a Capitol Hill press conference.
"As Vanderburgh County Sheriff, I saw firsthand the destruction these storms bring to the families and communities they touch," said Ellsworth. "This bill is about public safety. The CJ's … (0 comments)

Freddie Mac Reports That Average Mortgage Interest Rates Have Dropped Slightly - 06/21/07 01:14 PM
Today  Freddie Mac reported that nationally the average mortgage interest rate for 30 year fixed-rate mortgages was 6.69% (6.65% in the southeast), down from 6.74% a week ago. The average interest rate for 15 year fixed-rate mortgages was 6.37%, down from 6.43% over last week.
Market worries that the housing market will be a drag on the economy for a longer period helped to ease the recent upward movement of interest rates over the past several weeks. Homebuilder optimism dropped to a 16 year low and new housing starts fell for the first time in 4 months.
Do keep in … (2 comments)

FLORIDA: NEW LEGISLATION SIGNED INTO LAW THAT WILL ENHANCE CONSUMER PROTECTION FOR CONSUMERS SEEKING A MORTGAGE - 06/21/07 12:22 PM
TALLAHASSEE - Governor Charlie Crist signed into law today legislation that will enhance consumer protection for consumers seeking a mortgage.  The legislation, an "Act Relating to Mortgages," was sponsored by Senator Mike Fasano and Representative Garrett Richter at the request of the Office of Financial Regulation.  This law will help protect consumers by requiring additional disclosures, such as the risk associated with adjustable rate mortgages.  The law also provides additional enforcement and investigative tools for prosecuting perpetrators of mortgage fraud and makes it a third degree felony for violators.
The enactment of this legislation coincides with actions that are being taken by … (0 comments)

Should You Remodel Your Home Before Selling It? - 06/19/07 02:00 PM
Often sellers ask me if it would be worthwhile to remodel their homes prior to putting them on the market. I recently saw a short blurb on one of the home improvement television shows that mentioned that baths and kitchens had the highest return per dollar invested. However, I also have been reading some reports that echo what I see out in the real world. In only a very few specific markets, do any remodeling projects exceed a 100% return on investment. Even when they do, they are just slightly over that mark. While it is true that a bathroom or … (0 comments)

55+ Communities Near Zephyrhills, Florida - 06/18/07 09:57 AM
Long ago Zephyrhills, Florida became somewhat of a mecca for home buyers looking for a place to retire. As a consequence, we have several subdivisions that house mainly persons who are 55 years of age, or older.
According to federal law it is illegal to discriminate against someone based on "familial status". That is to say, a family with a child or children under the age of 18. I cannot refuse to show a home to anyone because the owners or neighbors do not want children nearby. If I did that, there would be serious consequences for all concerned.
There are … (1 comments)

How to Find Flood Zones in Hillsborough County, Florida - 06/18/07 09:26 AM
Not long ago I posted instructions for finding flood zones in Pasco County, Florida. That posting was viewed many, many times. So I am assuming that this is an issue that is important to my blog's readers. Therefore, I am now posting instructions for finding flood zones in Hillsborough County, Florida.
Often buyers and sellers want to know if a property is located partially or completely within a designated flood zone. Sellers like to know this so they can decide if their homes are at risk, and buyers need to know this information since their lenders will probably require flood … (0 comments)

Wood Destroying Organism (WDO)/Termite Inspections - A Wise Move for Home Buyers - 06/17/07 03:22 PM
Often when customers make an offer on a house their real estate agents recommend that they have a "termite inspection" done. This is a bit of a misnomer since the inspection concerns much more than termites. The correct term is a Wood Destroying Organism (WDO) Inspection. In the purchase agreement that I most often use it defines the Wood Destroying Organisms as "...anthropod or plant life, including termites, power-post beetles, oldhouse borers and wood-decaying fungi, that damages or infests seasoned wood in a structure, excluding fences." Banks often require that a WDO Inspection be done prior to the closing of the … (0 comments)

Florida Legislators Finally Arrive at Agreement Concerning Property Tax Reforms - 06/15/07 04:46 PM
Yesterday the special session of the Florida legislature ended with a program to reform property taxes in the works. Despite warnings from schools, local governments, firefighters, and police departments that services to the public would suffer, Republican lawmakers allowed few alterations to their proposals. The only one that seemed to have gotten by is to give property owners the option of retaining their "save our homes" savings if they choose to do so. Only as owners sell or die will these homes be phased out, lengthening the process. By allowing this, the projected tax cut will drop from $31.6 billion dollars … (0 comments)

Mortgage Interest Rates Take Another Nasty Rise According to Freddie Mac - 06/14/07 02:20 PM
Today  Freddie Mac reported that nationally the average mortgage interest rate for 30 year fixed-rate mortgages was 6.74% (6.71% in the southeast), up from 6.53% a week ago. The average interest rate for 15 year fixed-rate mortgages was 6.43%, up from 6.22% over last week! The 30 year rate has not been higher since July 20, 2006!
The sharp rise in mortgage rates was the biggest that the housing market has seen in over 3 years, according to a Freddie Mac spokesperson. These interest rate increases mirror the similar increases in the rising yields on Treasury securities as worries about inflationary … (0 comments)

How to Find Flood Zones in Pasco County, Florida - 06/13/07 07:26 PM
Often buyers and sellers want to know if a property is located partially or completely within a designated flood zone. Buyers need to know this information since their lenders will probably require flood insurance on the property.
One of the surest ways to find out is to have a survey done and have the surveyor make an exact determination. Of course, that can be pricey if you are just curious or are in the very preliminary stages of contemplating a purchase.
In Pasco County we are lucky since our county property appraiser has included this information on his website. … (4 comments)

Do Not Shoot Yourself in the Foot When Pricing Your Home! - 06/13/07 07:21 PM
Sellers often complain that their homes are not being shown frequently enough. Why are buyers not flocking to see their properties? Almost always the reason is that the price is too high compared to others that are available in the same area.
Any property will sell if it is priced correctly. Even in a buyers market. Take the worst home on the block in a rundown neighborhood, and someone will purchase it, often a "flipper", if the price is attractive. However, even the most beautiful mansion of a movie star will languish on the market if it has a price tag … (0 comments)

Gov. Crist Signs Bill That Extends Freeze on Citizens Property Insurance Rates to 2008 - 06/12/07 06:10 PM
I am hearing that Governor Crist has extended the freeze that he signed several months ago that prevents Citizens Property Insurance (the so-called, insurer of last resort in Florida) from raising the rates it charges their customers for homeowner coverage. Instead of doing this by executive order, he accomplished it by signing a bill into law. The freeze on Citizen's rates will remain in effect until the end of 2008.
This bill also forbids large national companies from forming companies just within the state of Florida, and then claiming they are losing money since they are not spreading the risk over … (0 comments)

Special Session of the Florida Legislature Begins Today to Tackle Property Tax Reform - 06/12/07 01:09 PM
Who knows what Tallahassee is going to come up with. A $31.6 billion tax cut is being mentioned. There are so many proposals being tossed about I am not sure anyone understands it all, even the authors of the bills. I am very sure that they do not know all of the repercussions down the road. The true fact is you have to pay for what you want. If it currently costs us X dollars to keep the state running and we suddenly decide to reduce tax income by Y dollars, we either will have reduced services or we will have … (1 comments)

According to Freddie Mac Interests Rates Hit A 10 Month High - 06/08/07 04:11 PM
Yesterday  Freddie Mac reported that nationally the average mortgage interest rate for 30 year fixed-rate mortgages was 6.53% (6.52% in the southeast), up from 6.42% a week ago. The average interest rate for 15 year fixed-rate mortgages was 6.22%, up from 6.12% over last week. A year ago the 30 year average was 6.62% and the 15 year was 6.23.
Wage growth and a tight labor force helped to drive interest rates higher this week. May's unemployment rates were at the second lowest level since May 2001 and hourly earnings rose. Labor costs increased 1.8 during the first 3 months of … (0 comments)

Smell Your House or Sell Your House! - 06/07/07 12:53 PM
Most real estate professionals will agree that their buyers will usually make a decision about liking or not liking a home within 10 seconds of entering the house. There can be many things that will make them rapidly form an opinion about a property. Today I will discuss SMELLS. How your home smells can make all the difference in the world. A home that smells fresh and clean will create positive feelings while a musty home that reeks of animals, cooking residue, or smoke will have potential buyers running for the door. Some people are allergic to certain irritants and for … (0 comments)

New Companies to Begin Writing Homeowner Policies in Florida - 06/06/07 04:46 PM
The state is reporting that five new companies will begin writing policies in Florida. For months we have seen an exodus of insurers, and perhaps it is a positive sign that some are now entering our market.
Clearwater's Modern USA Insurance Company will begin writing coverage in October for homes that have average values of $210,000.
Olympus Insurance Company out of Orlando will begin offering coverage sometime around October 2007.
American Keystone Insurance Company of Ponte Verda Beach will offer policies on homes valued from $250,000 to $3,000,000.
Plantation's Privilege Underwriters Reciprocal Exchange, Inc. will handle homes valued at more than … (1 comments)

Beware of Unlicensed Real Estate Agents Operating in Zephyrhills and Florida - 06/06/07 03:37 PM
It has come to my attention that we may have an unlicensed person acting as a real estate agent in one of our subdivisions. He approaches buyers and sellers and offers to sell homes for a pretty hefty fee, considering the limitations of his services. This is a dangerous practice for sellers and buyers, and could have serious consequences for both parties in the transaction. Any potential savings could be rapidly eaten away when things go wrong. A real estate professional with an active license will always be happy to show it to you.
The State of Florida has issued an … (0 comments)

Locating Sexual Offenders and Predators in Zephyrhills, Pasco County, and Florida - 06/06/07 03:33 PM
Increasingly, buyers, sellers, and homeowners want to know if a convicted sex offender is in their neighborhoods. Though it can be difficult to assess the gravity of each situation, it never hurts to be aware of what is happening around your home and town. Hardly any developed area of the United States is devoid of offenders.
As real estate agents it is impossible for my colleagues or me to know where every single offender is at any point in time. People do move around, but offenders have to report where they live. Law enforcement officials keep track of them on … (0 comments)

Hurricane Season Has Started In Florida. Be Prepared! - 06/06/07 03:21 PM
Here in Florida we just began our hurricane season. Typically this runs from June 1st to November 30th of each year. Though the experts attempt to predict how many storms will hit us and how severe they will be, there is no way of being 100% sure. This year they seem to feel that we will have an above average number of storms. Now is the time to be thinking about getting insurance and/or reviewing the policy you currently have to ensure that you have adequate coverage.
Be aware that once a hurricane warning or watch is declared for any part … (0 comments)

Another Seller Shoots Himself in the Foot When Overpricing His Home - 06/05/07 07:53 PM
I want to relate to you an incident that happened yesterday that is a perfect example of how many home sellers are creating problems for themselves and their agents.
I got a call from a local man who had received one of my postcards in the mail. He and his wife will be moving in a few months and they wanted to see what their home here in Zephyrhills would sell for. I pulled up county records of recent sales and prepared a Comparative Market Analysis (CMA) using the multiple listing service. Comparable homes in that specific subdivision had sold … (0 comments)

Why Won't My Home Sell? - 06/05/07 07:02 PM
As many of you know, throughout most of the country we are in a "buyers market" at the present time. Yet some homes are still selling. Why is it that some properties sell and some do not? In a "buyers market" there are more homes for sale than there are buyers to purchase them. With more properties to choose from, buyers are more discriminating and the sellers face stronger competition. Not only from the homeowner sellers, but from the developers who find themselves with inventory homes that they are anxious to get off the market. I have seen some developers that … (0 comments)

Price Reduced on Move-In Ready Double-Wide Mobile Home in Colony Hills, near Zephyrhills, Florida - 06/05/07 06:30 PM
THIS HOME HAS NOW BEEN SOLD. CALL ME ABOUT SIMILAR HOMES THAT ARE CURRENTLY AVAILABLE This well-maintained double-wide mobile home is located in the Colony Hills subdivision, just to the west of Zephyrhills on State Road 54. It is not on a rental lot. YOU OWN THE LAND! It has 2 bedrooms, 2 baths, 768 sq.ft. of living space (not including the Florida room), and a carport.Central heat and air-conditioning, of course. This home is being sold "furnished" so all you have to do is enter and begin enjoying your new life in the warm Florida sunshine.
The low monthly … (0 comments)

PRICE REDUCED!! Wonderfully Large Custom-Built Home on 3/4 Acre Available For Purchase Near Zephyrhills, Florida - 06/05/07 06:22 PM
This one of a kind charmer easily impresses. With 2,604 square feet of living space this home has all of the room you will need. It has 3 bedrooms and 2 baths, PLUS a one bedroom apartment with its own kitchenette and bath. All located on an over 3/4 acre wooded lot just to the east of Zephyrhills, Florida.
A few short steps down the entry hall brings you to the large great room with its cozy fireplace and vaulted ceilings. More than enough room for a wide-screen television. Perfect for gathering with family members or entertaining guests. You will certainly … (0 comments)

Price Reduced AGAIN!! on Beautiful Home on 1 ACRE lot on near Dade City, Florida - 06/05/07 06:12 PM
This home has just come back on the market in the Grandview Grove subdivision, just to the southwest of Dade City, Florida and with a REDUCED PRICE of $299,900! This is a very small special development of under 20 large homes on 1 acre lots. You do not find that in many subdivisions today.
This custom home on a corner lot was built in 2002 and has 2,472 square feet of living space with high ceilings throughout. There are 3 bedrooms, 2 baths, and a den/bonus room. Wall-to-wall carpeting and beautiful ceramic tiles adorn the floors.
The home is a split … (0 comments)

A Television Show That Can Help Home Sellers Avoid Costly Mistakes When Marketing Their Homes - 06/05/07 06:10 PM
This is a television program that I love watching. It is called "BUY ME" and is presented at various times on the Home & Garden Television (HGTV) cable channel. Bright House Channel 57 here in Pasco County, Florida. I suppose I enjoy it so much because I am a REALTOR, and what happens on this show validates what I try to get my sellers to see. They often have unrealistic goals for themselves and unrealistic expectations as to what buyers will accept.
On this show, people are trying to sell their homes for various reasons, some are moving out of the … (0 comments)

Don't Cut Your Faithful Agent Out of the Deal When Dealing With Developers - 06/05/07 05:54 PM
A colleague of mine here in Zephyrhills, Florida recently had an experience that proves a point. He had some buyers that he had been working with for several months. They finally expressed an interest in seeing some new homes nearby. Most homebuilders and developers will pay agents a commission for bringing them buyers. The agent in question gave the buyers a list of subdivisions that were being built. Thinking they would save him time, the buyers went out to see some of the areas and the homes that were available without letting their agent know what they were doing.
When the … (0 comments)

 
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John Elwell

Zephyrhills, FL

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CENTURY 21 Bill Nye Realty, Inc.

Address: 34619 State Road 54, Zephyrhills, FL, 33541

Office Phone: (813) 715-6810

Cell Phone: (813) 783-4444

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Real estate news, opinions, and listings from Zephyrhills, Pasco County, Florida and the west central region of Florida in general. Licensed in Florida.


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