Overall in the Bloomingdale Subdivision- Brandon, FL  market area things are very stable.  It is still an affordable market where homes are selling quicker and the average home price ROSE 2% over the last 3 months.  Since the tax credit over the summer, homes have increased slightly in average prices. 

If you are planning on buying, selling, or refinancing give me a call.  Call Jon Tipton with Florida's Beautiful Homes.  We are your "Florida Living Experts."   

"THERE IS NO BETTER TIME TO BUY OR REFINANCE IN THE BLOOMINGDALE MARKET."    

                                                                                                                                                                                                                                                                                                 TOTAL # OF SALES (LAST 3 MOS.) = 21                         DOWN (FROM 40 PREV. 6 MOS.)

ABSORPTION RATE/MONTH = 7                                    DOWN (FROM 13)

MONTHS OF SUPPLY = 3.3 MOS.                                               DOWN (FROM 4.25) incl. PENDINGS

CURRENT MEDIAN SALES PRICE = $160,000                  LEVEL ($159,450 PREV. 6 MOS.)

CURRENT AVG. SALES PRICE = $171,681                          UP (2% OVER 6 MOS.)

MEDIAN SALES DAYS ON MARKET = 24                                 DOWN (FROM 97 PREV. 6 MOS.)

MEDIAN LISTING PRICE = $138,750                             DOWN (0.08% FROM PREV. 6 MOS.)

MEDIAN LISTINGS DAYS ON MARKET = 96                    DOWN (FROM 138 PREV. 6 MOS.)    

MEDIAN SALES % OF LIST PRICE = 98.3%                    UP (FROM 96.02% PREV. 6 MOS.)

Jon Tipton, Realtor/Appraiser

813-391-6121

                        

www.tampabayappraisers.com 

The Palmetto Club at FishHawk Ranch - Lithia Florida

FishHawk Ranch is an award-winning , master-planned community in southeast Hillsborough County, it has a reception hall perfect for weddings, anniversary parties, company functions and special events. The facility features a 5,200 square foot ballroom that can be divided into three smaller rooms for more intimate gatherings. Spacious outdoor veranda and garden areas, a conference room, pre-function area, and catering kitchen all add to the versatility of the club. The facility is located conveniently, right in the heart of the community.

I have attended two functions at the Palmetto Club and they have both been awesome and first class in every way. If you have a wedding, reception or other function coming up, check this place out. I think you will like it.

The Palmetto Club is located at 17004 Dorman Road Lithia, FL 33547 and can be reached at 813-657-0062

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Jon Tipton ~ Florida's Beautiful Homes™

Contact Jon Tipton, Florida's Beautiful Homes- Licensed Realtors® in Florida at 813-653-1241 to list your property for sale or to purchase a property in Brandon, Valrico, Lithia, Riverview, Apollo Beach and the rest of Hillsborough County Florida.

If your home has been listed in the MLS, and it is getting ready to expire, I would like to make a few suggestions...

• Get a new agent... May I suggest me... Jon Tipton
• Set up the new listing to begin the day after the current listing expires...
• Go on a nice vacation for a few days...
• Don't forward your home phone to your cell phone... and you might consider NOT sending it to voice mail...

Why you ask? Because it is going to get ugly. Seriously. It is kind of funny, I talk with agents all over... not just Tampa, but all over the US... and they often say the same thing. "I'm not really looking for sellers, I am looking for buyers." And it is an odd thing to hear since as a newly expired listing you will receive...

• 93 phone calls... these will start at about 6:00 AM the day your house expires...
• 165 letters... ok, some will be postcards, others will be letters... and then...
• 3 packages... like FedEx, DHL or UPS. These will be touting the senders’ super hero like abilities...
• 8 door knocks from agents... these may also start pretty early on the day of expiration... <!--more-->

There is a madness to the method...

The reason that you will be inundated is that it works. It doesn't work a lot, but if they contact a couple hundred people, there will be a couple that might fly. For these agents, this is their job. It is referred to as prospecting. You and your home have been reduced to being a prospect... a number...

I've been through the sales coaching. I know the drill... Make 35 calls a day, 5 days a week. From that, expect to get 10 appointments and from that, 4 listings, "it's a numbers game".

But here is the problem...

Somewhere in the process, you became a number. Instead of spending time putting together marketing packages for homes, they are only putting together marketing packages for themselves... If they list enough properties, something will sell. Your property is a number, not a priority.

It doesn't have to be that way!

You’re not just a number to me, you won't likely get a phone call from me... and certainly not at 6:00am. You might see a newsletter. If you contact me, you certainly WILL get a package regarding listing information. But, instead of dreaming up ways to market ME... I am dreaming up ways to market YOUR HOME. I am building web sites that are just for and about your home. I am looking for ways to better connect with the buyers that are in the market now. I am looking at market data and trends to see what is working. I am looking at the analytics of the marketing I have done so that I can better see what has worked. It isn't about me. I don't want to be famous. I don't want 1000 listings. I don't need to market for my ego.

It IS about making YOUR home sell.

I do have to spend a little bit of time promoting myself... I do need some listings. But I try not to be annoying about it. I have dealt with pushy agents. The can do really well... but I think that an agent that concentrates on getting homes sold can do better than an agent that concentrates on getting themselves sold. I look forward to hearing from you and discussing our marketing plan for your home.

Jon Tipton, Realtor/Certified Appraiser

Florida's Beautiful Homes™

813-653-1241

Let's say you are considering remodeling a certain aspect of your biggest investment- your home. And let's also say you are having trouble deciding what projects produce the largest return on investment. Well, Realtor Magazine has recently published ways to stretch your remodeling dollars. Here are five of the top projects of 2010-2011. The key to remember is FIRST IMPRESSIONS MATTER & CURB APPEAL IS A MUST. 

PROJECT 1: ENTRY DOOR REPLACEMENT (Steel) * Cost: $1,218 Resale Value: $1,243 Cost Recouped: 102.1%

PROJECT 2: GARAGE DOOR REPLACEMENT* Cost: $1,291 Resale Value: $1,083 Cost Recouped: 83.9%

PROJECT 3: SIDING REPLACEMENT (Fiber Cement) * Cost: $13,382 Resale Value: $10,707 Cost Recouped: 80.0% 

PROJECT 4: KITCHEN REMODEL (Minor) * Cost: $21,695 Resale Value: $15,790 Cost Recouped: 72.8%

PROJECT 5: DECK ADDITION (Wood) * Cost: $10,973 Resale Value: $7,986 Cost Recouped: 72.8%

* National Averages

Entry door replacement projects have always performed better in resale value than other types of remodeling projects, partly because they're among the least expensive. Garage door replacement projects recognize that curb appeal continues to play a strong role in a home's resale value. Since siding replacement was added to the survey in 2005, fiber-cement siding replacement has ranked first among projects costing $5,000 or more. The minor kitchen remodel may carry a hefty price tag, but it's a relatively inexpensive face-lift to what many buyers consider the most important room in the home. And finally, the deck addition is considered essential rather than discretionary in many markets, particularly in neighborhoods where every home has an outdoor living space. Sellers should also consider:

1. ONLINE RESEARCH BEFORE A PURCHASE OR PAY THROUGH THE NOSE. YOUR CHOICE!

2. CONSIDER GARAGE DOOR WITH WINDOWS FOR NATURAL LIGHT. ONLY MY CAT LIKES A DARK GARAGE.

3. BELT-DRIVEN GARAGE DOORS ARE A LOT LESS NOISY FOR ABOUT $100 MORE. GENIUS!

4. ASK FOR PREPAINTED SIDING TO SAVE MONEY ON PAINT/REPAINTING.

5. PAINT CABINETS INSTEAD OF REPLACING THEM. PAINTING HAS TO BE THE EASIEST TO ADD VALUE.

6. LAMINATE COUNTERTOPS ARE IMPRESSIVE, COST-EFFECTIVE, AND MIMICK NATURAL STONES QUITE WELL!

7. DO SOME OF THE WORK YOURSELF I.E. REMOVE CABINETS, PAINTING, PATCHING NAIL HOLES AND SCRATCH MARKS. DEMOLITION WORK IS NOT ONLY CATHARTIC BUT KIND OF FUN TO SMASH THINGS.

8. HAVE A PROFESSIONAL DO FOOTINGS AND FRAME OF DECK. ANYONE WHO CAN USE A SCREW-GUN CAN PUT IN FLOORBOARDS AND RAILINGS. THIS ISN'T BRAIN SURGERY!!!!

9. REMEMBER TO PULL A PERMIT FOR YOUR DECK 10. RAILINGS MUST BE CORRECT HEIGHT AND DECK SLATS NOT TOO FAR APART. THIS IS HAZARDOUS TO KIDS AND PETS. I'VE ACTUALLY SEEN CHILDREN GET THEIR HEADS STUCK. IT IS NOT A PRETTY SIGHT!

If you would like to speak with a live actual Realtor /Appraiser who is a professional in Hillsborough county real estate market please call Jon Tipton now at:

813-391-6121

Everyone knows the troubles the real estate market has suffered over the past several of years. Most folks have stayed clear of the market unless they absolutely had to move. If you truly want to move or must move, here are seven rules that I have found will help in selling your home quickly in any real estate market:

Price the home properly. Buyers search by price range. Positioning your property in the highest range decreases the likelihood people will see it. A middle of the range price will attract more buyers than one at the highest level.

Have information available. Deals fall apart when the buyer has unanswered questions. Work with the seller to have key information available, including cost of utilities and taxes, neighborhood liens and covenants, and an evaluation of the schools.

Insist on an excellent flyer. A well thought out and informative flyer with multiple photos get's peoples attention. People are much more likely to pick up and read a flyer than they are to call the number on the "For Sale" sign.

Use a Realtor who utilizes videos to market your home. While a virtual tour is better than a couple of still photos, home buyers are increasingly interested in seeing a video tour of their prospective new home. These can be used in various marketing campaigns including websites, Blogs and e-mail. Market to your neighbors.

Market to people who live in the same neighborhood. The odds are, if they like the neighborhood, they may want their friends or relatives to live close by and could influence them to by your home.

Offer creative financing if practical. Many home buyers these days are finding money and or financing is a large stumbling block in buying a home. If you are in a position to offer down payment or owner-financing consider it.

Be prepared to except a purchase offer. In the reality of today's real estate market, holding out for a better offer may be a big mistake if the offer is reasonable. Remember, a bird in the hand beats two in the bush.

Jon Tipton, Realtor/Certified Appraiser ~ Florida's Beautiful Homes

813-653-1241

Tampa Bay Appraisers

• Appraisals provide an objective opinion of value, but it’s not an exact science so appraisals may differ.

• Where good appraisers earn their money is avoiding "atmospheric extraction." This is when appraisers pull adjustments out of their hat. Match pair analysis is the basis for making any adjustment whether it is for condition or location.

• For buying and selling purposes, appraisals are based on market value — Defined as: "The most probable price which a property should bring a competitive and open market under all conditions requisite to a fair sale, the buyer and seller, each acting prudently, knowledgeably and assuming the price is not affected by undue stimulus"

• Changes in market conditions may dramatically alter appraised value.Lenders usually use either the appraised value or the sale price, whichever is less, to determine the amount of the mortgage they will offer.

• Who can do appraisals? Either licensed trainee appraisers under the supervision of a State Certified or Certified General Appraisers.

• A Broker Price Opinion (BPO) is not an appraisal. A BPO does not require all of the steps of a full blown appraisal, however, they may be done by either an appraiser or a Realtor who is an active member of the multiple listing service (MLS).

• The appraiser is essentially acting as a historian and a messenger with a report of what the market is showing the value to be. This is done through looking at value through a buyer's eyes also called the Principle of Substitution. This is where the comparison of two like properties is done with one difference- price. Buyer's will choose the lower price assuming all other things are the same.

Jon Tipton, Realtor/Florida Certified Residential Appraiser

813-391-6121

Before you consider selling your house yourself, ask yourself if you are going to have the time needed to sell your house - even if you just cover the basics.

The Basics: Complete an extensive research of local market conditions, including:

• the listing and selling price of all houses in your area for the last six months.
• the listing price of houses currently on the market, and the listing prices of houses that were on the market but did not sell. Tips: Begin your research on the Internet. Follow-up by visiting the county tax records office to determine the selling prices of houses. <!--more-->

Put together a marketing plan.

• How will you market your house to real estate agents? Most buyers use a real estate agent, so marketing to real estate agents is essential. At a minimum, you'll want to send a letter and sales flyer to all real estate agents within a 30 mile radius.
• How much money can you afford to devote to advertising? Call the local newspapers to determine how much it will cost for advertisements. You'll want to run daily and Sunday ads in the newspapers.
• Who will create your sales flyers? Buyers expect fact sheets to take with them when they drive-by or tour a house for sale.
• Where will you place signage? In addition to your front yard, is there areas leading in to your neighborhood where signage would be appropriate?
• How will potential buyers find information about your house on the Internet? You'll want potential buyers who begin their house shopping on the Internet to find your house. Be sure to build a website to help sell your house.
• Who will take inquiry calls and schedule appointments? You'll want someone to be available to answer inquiry calls and schedule appointments. Be sure to schedule showings as quickly as possible - even the same day.

Tips: Ask newspapers for a discounted advertising rate for multiple placements. Be sure to check with local officials to determine if there are any restrictions on where you place signs. Pre-qualify buyers before showing your house. Confirm that the potential buyer has pre-qualified for a mortgage loan.

• If the buyer is buying with cash, confirm that they have the necessary resources.
• If the purchase is contingent on the buyer selling their own house, confirm that the buyer's house is on the market. (You may also want to determine how long the buyer's house has been on the market.)

Negotiations, Contracts and Closings

• Are you prepared to negotiate the contract?
• Do you know what the legal responsibilities of the seller are in your area?
• Who will write the contract? Will you need to hire an attorney? If so, what will be the attorney's fees?

In addition to the sales contract, you'll need to complete a Seller's Disclosure and a Lead Based Paint Disclosure.

Please give us a call or send an e-mail to receive our free Home Sellers Guide.

813-653-1241

Jon Tipton- Florida's Beautiful Homes

“Lauren’s Kids” is the creation of child abuse victim, survivor and Elementary school teacher Lauren Book. The organization helps educate adults and children about sexual predators.

Educational seminars and workshops help create more awareness of sexual abuse laws, offer legal counsel and provide guidance on how and where to file complaints. The goal of “Lauren’s Kids” is to provide round-the-clock counseling and guidance for victims through a toll free phone number. The ultimate goal is to create a Crisis Center for Children and their Families coping with the aftermath of sexual abuse. Childhood sexual abuse is preventable with education and awareness - Lauren’s Kids promotes awareness, education, and healing.

Book: "It's Okay to Tell"

e-mail: laurenskids@aol.com

Please become a fan of Lauren's Kids

Official FaceBook Fan Page and stay updated n all news, happenings and special events....

Florida's Beautiful Homes

Overall in the Fishhawk Ranch located in the Lithia, FL market area, it is becoming more affordable, homes are selling quicker, and average prices are increasing.  Since the tax credit over the summer, homes have increased slightly in average prices.  Do not be fooled by the median values decrease.  This means most of the homes selling are simply shifting to a lower price range.    If you are planning on buying, selling, or refinancing give me a call.  Florida's Beautiful Homes is your one-stop shop for your residential real estate needs.  

AVG. # OF SALES PER MONTH = 49                                    DOWN (FROM 65 PREV. 6 MOS.)

AVG. ABSORPTION RATE/MONTH = 16                               DOWN (FROM 21.67)

AVG. MONTHS OF HOUSING SUPPLY = 12 MOS.                       UP (FROM 6.6)  

CURRENT MEDIAN SALES PRICE = $268,500                       DOWN (2% IN 6 MOS.)

CURRENT AVG. SALES PRICE = $298,439                               UP (3% OVER 6 MOS.)

MEDIAN SALES DAYS ON MARKET = 48                                        DOWN (FROM 58 PREV. 6 MOS.)

MEDIAN LISTING PRICE = $264,457                                  DOWN (1.7% FROM PREV. 6 MOS.)

MEDIAN LISTINGS DAYS ON MARKET = 97                         DOWN (FROM 142 PREV. 6 MOS.)    

MEDIAN SALES % OF LIST PRICE = 96.2%                         DOWN  (FROM 98% PREV. 6 MOS.)

 

"THERE IS NO BETTER TIME TO BUY OR REFINANCE IN THE FISHHAWK RANCH MARKET." 

Jon Tipton, Realtor/C.R.E.A.

813-391-6121

  

     BPOs are the estimated value of a property, as determined by a real estate broker or a qualified individual or firm.  A broker price opinion is based on the characteristics of the property, which include differences in comparables' location and/or transaction type.

 

BUT WHO WANTS TO ADMIT THEY AREN'T QUALIFIED?!

  

            Investopedia explains Broker Price Opinion.  Some of the factors that a broker will consider when pricing a property include: the value of similar surrounding properties, sales trends in the neighborhood, an estimate of any of the costs associated with getting the property ready for sale and/or the cost of any needed repairs. It is important to note that a BPO is not the same as an appraisal.

     "Just as out of area appraisers are killing many deals, so are inexperienced and under-qualified agents churning out fraudulent BPOs"

JD, Tampa Bay Appraiser

     Here is an example:  Recently, I received an offer on a short sale for $220,000 with a list price of $245,000.  Keep in mind this is short sale with my best comparable sale with NO distress sold recently for $245,000 down the street (same builder).  The subject is a spec home built in an area of homes built in the 50's and 60's or older.  The agent came to do an interior BPO.  I showed him my comps, which determined our listing price as well as the buyer's offer.  He said thanks and left after he told me he had thirty more to do in the next three days.  As soon as heard those words, I knew he would not give ANY one of those BPOs the proper analysis.    

"There's no government oversight of BPOs so Larry the out-of-work roofer can do them as long as he has access to MLS.  That's scary."

Dave, Brandon Broker

      Three days later, we heard from the lender.  The BPO came in at $260,000 or $25,000 OVER list price.  I thought as long as we were within the VA guideline of being within 85% of the BPO price we were okay.  The lender stated the buyer would have to raise the offer with no concession to meet in the middle at all.  My short sale negotiator and I agreed this has been a common problem with widespread repercussions affecting the economies' recovery.  We both instinctively knew we were going to have to fight harder on this one.  We tried to hide our shock at the BPO agent's ignorance when he used new construction non-distressed comparables in a planned development when ours was in an older area.  It's no wonder.

     There are no buyer's I know who would pay more for a home if there's one down the street for $40,000 less assuming all things were .  In the appraisal world, this is called the Law of Substitution.  Yes, I said Law with a capital L.  Any appraiser worth his salt knows location or transaction type adjustments were not done in the example above.  In other words, if you absolutely have to compare short sales and REO's with non-distressed sales a discount has to be given.  Here is the most recent data put out there by RealtyTrac:

            REOs sold for an average discount of nearly 41 percent, up from an average discount of 34 percent in the previous quarter and 35 percent a year ago.  Dec. 3, 2010.  Those homes, which typically changed hands in a short sale, sold for an average discount of 19 percent, up from 13 percent in the previous quarter and 18 percent a year ago.

     In the recent letter to the U.S. Treasury, the Appraisal Institute (AI) states BPOs are likely to exacerbate mortgage fraud.  Further, real estate agents who perform BPOs not properly trained, have a bias towards quick results for a fee, and have little or no regard for the other parties of a short sale transaction (lenders, servicers, investors, property owners, etc).  They also have the ability to raise the BPO value to try to get the listing when it becomes bank-owned.

     "Everyone knows flat out BPOs do not comply with the minimum appraisal standards.  So why are we still using them?"

Paul, Tampa Bay Appraiser

  Great question Paul!  Because they benefit the lender.  BAM!  I can tell you are shocked by the look on your face. 

     Here are some more reasons why the BPO is so critical in your short sale deal.  Agents on both sides should work together to get these short sale deals closed because we all know it is the best option for our market, our seller, and our buyer.  Actually, maybe you didn't know that.  Here's why:  Supply and Demand rules as it does in many other areas of life.  When BPO's slow down the process because they are done poorly without warranted adjustments for location for example, that raises the high water mark for inventory as new ones just seem to keep coming.  The more inventories, the more pressure it puts on those selling to lower their prices to compete with other comparable homes.  In other words, bad BPOs create market deterioration when they should be working to clean up the mess. 

     Many lenders only order one BPO when they should be ordering at least two per deal.  The way I see it for the price of an appraisal, they could order 4-6 BPO's.  Therefore, one BPO becomes the magical figure that your ENTIRE deal is based on.  The loss mitigator calculates ALL of their formulas around the BPO value and will approve or deny your offer based on it.  Most lenders have a set percentage of the BPO value they are allowed.  Anything under that will have to go to a different approval process.

"Now here's the problem with the entire BPO system boiled down to a simple statement: You want the BPO to come in LOW and the Lender wants it to come in HIGH!"

Andy Tolbert/Realtor

     The lender hires the person that does the BPO.  The person that does the BPO thinks if they bring it (the value) in nice and high, the lender will think they can make more money if they sell it as a REO (bank-owned after foreclosure).  The BPO agent is thinking they'll get the listing when it's an REO!  

     People have to pay the bills but the lack of quality is killing the integrity of the business, creating a longer recovery if I can say that word at all.  As a Hillsborough county property appraiser based in the Tampa Bay market, I know both sides of the coin.  I'm inspired to continue to do quality work as I know un-biased valuations are the only way to go.  I also know in any economy the need for honest appraisers will be there. 

   My aim is create a solution to the recovery of our housing market and to make unqualified BPO agents better.  The purpose of this is not to tear anyone down but to shine a light [they] are a speed bump to our recover.  If you are a BPO agent who knows the difference between apples and oranges and knows how to make an adjustment for that please disregard this entire blog.  Directly, if you don't understand that last sentence you're not qualified to be doing BPOs.  If you are fraud is your bag.  Alas it is not your fault you have bills to pay and mouths to feed. 

     Let's not be quick to play the government blame game but to look at solutions.  We must continue taking pride in our work and becoming the best we can be (not just the quickest).  Until then [BPO agents], a recovery is nothing more than a mirage.  Hope you have plenty of water and patience.