Altos: Critics Are Wrong About Where Housing Is Headed

In Pinellas County, specifically the beaches along the barrier islands from Clearwater Beach, St Pete Beach, the housing market is strong and prices continue to rise.

Altos: Critics Are Wrong About Where Housing Is Headed.

FHA Program Puts Ex-Home Owners on Track to Buy Again Sooner

Start searching for your next home, you may be able to buy now, before prices and/or interest rates go up.

FHA Program Puts Ex-Home Owners on Track to Buy Again Sooner.

Sugar and Sand Festival, Clearwater Beach FL

Sugar and Sand Festival, Clearwater Beach FL

Come, stay and enjoy award winning beach fun in the sun. Professional sand sculptors create amazing works of art ever seen. But it does not stop there. There is a lot to enjoy.
Read more http://www.sugarsandfestival.com/

SINK HOLES – Florida Department of Environmental Protection recently published this bulletin regarding sink holes in Florida

INFORMATION REGARDING SINKHOLES FROM THE FLORIDA GEOLOGICAL SURVEY

~Facts and information about encountering sinkholes in the state of Florida~
TALLAHASSEE – The Florida Department of Environmental Protection’s Florida Geological Survey has compiled the following information to provide a single point source for general knowledge about the nature of sinkholes in the state of Florida and additional information about proper protocol should you ever encounter a sinkhole in an urban area.

Facts about sinkholes in Florida:

-The entire state of Florida sits on top of several thousand feet of limestone. Limestone is a rock that can form with natural void spaces called porosity. In limestone where the void spaces are connected, the rock is permeable. Porous and permeable limestone makes great aquifers and provide millions of gallons of fresh drinking water for residents and agriculture. The most significant factor in the development of sinkholes is the dissolution of the limestone underlying Florida by naturally acidic groundwater.

-Sinkholes are a natural and common feature of Florida’s landscape. They are only one of many kinds of karst landforms, which include depressions, caves (both air and water filled), disappearing streams, springs and underground aquifer systems, all of which occur in Florida. Thousands of naturally occurring sinkholes can be seen throughout the state of Florida including many that connect underground to springs, rivers and lakes.

-Sinkholes form in karst terrain from the collapse of surface sediments into underground voids. In Florida one may see solution sinkholes, cover-subsidence sinkholes or cover-collapse sinkholes. The first two types will show very little topographical disturbance to the naked eye, while the third is the type which shows a abrupt change in topography and is most associated with the thought of sinkholes.

Questions about sinkholes in urban and suburban environments:

-My yard is settling… Do I have a sinkhole? Maybe. But a number of other factors can cause holes, depressions or subsidence of the ground surface. Expansive clay layers in the earth may shrink upon drying, buried organic material, poorly-compacted soil after excavation work, buried trash or logs and broken pipes all may cause depressions to form at the ground surface. These settling events, when not verified as true sinkholes by professionals, are collectively called “subsidence incidents.” If the settling is affecting a dwelling, further testing by a licensed engineer with a licensed geologist on staff or a licensed geology firm may be in order. Property insurance may pay for testing, but in many cases insurance may not cover damage from settling due to causes other than sinkholes.

-A sinkhole opened in my neigborhood… should I be concerned? Although sinkholes in Florida sometimes occur in sets, most are isolated events. The bedrock underlying the state is honeycombed with cavities of varying size, most of which will not collapse in our lifetimes. A quick inspection of your property for any sinking or soft areas might be prudent. Unless the sinkhole is very large, and extends to your property, there’s likely to be little reason for concern.

Should a sinkhole open in an area near you the hole should be immediately cordoned off and clearly marked to protect traffic. Contact local law enforcement to report the hazard and call your city or county road department to initiate repair work. If the road is private, repair of the hole is usually the responsibility of the landowner or property owners’ association.

-Is there a safe area of Florida where there is no chance of sinkholes? Technically, no. Since the entire state is underlain by carbonate rocks, sinkholes could theoretically form anywhere. However, there are definite regions where sinkhole risk is considerably higher. In general, areas of the state where limestone is close to surface, or areas with deeper limestone but with a conducive configuration of water table elevation, stratigraphy, and aquifer characteristics have increased sinkhole activity.

In an effort to assist the state residents are encouraged to report sinkhole information by filling out a subsidence incident report form on the Department’s website and submit the completed copy to the FGS. This website also contains information on sinkholes and how they form.

To access this form go to http://www.dep.state.fl.us/geology/forms/Subsidence/SIR-quick-form5.htm or contact FGS at 850-488-9380. More information about sinkholes can be found on the Florida Department of Environmental Protection’s website: http://www.dep.state.fl.us/geology/

Clearwater Beach, FL Condo/Motel – Units for Sale Low $100.000

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EXCELLENT INVESTMENT OPPORTUNITY – One in a lifetime opportunity to own a condo in Clearwater Beach for around $100,000 – Every other condo around this location sells for over 1/2 a million dollars. There are 6 for sale right now and are not listed in the MLS individually. Contact me as soon as possible, they are selling fast. we started with 8  only 15 days ago and two of them are under contract already. The condo is on the beach side of the street, a 2 minute walk to the sugar white sand of one of the best beaches in the country. Many restaurants, bars, shops and entertainment within walking distance. Great rental income potential, cash buyers only. Contact me right away, nina@besthouses2go.com – They all come fully furnished and equipped to start renting or enjoying right away. Interior pictures are from one of the units, they are all decorated differently.

ImageImageImageImageImageImageImage nina@besthouses2go.com

What is going on in this crazy market?

 

If you are thinking of buying and are still waiting for a “great bargain”, it might be….too late? There has been talk for a couple of years of a “shadow inventory” of foreclosures that the banks are not releasing, and that will soon flood the market. When is that going to happen, if at all?

July numbers are out and they continue to show a recovery in Pinellas County, where the cities of Clearwater, St Petersburg, Palm Harbor, Largo, Tarpon Springs and the cities of the beaches on the barrier islands are located, among others. Sustained recovery will not occur without low unemployment,  wage growth and consumer confidence, however, the basic laws of SUPPLY and DEMAND are driving property values up.

Inventory is down. Time on the market is down. Closed sales are up.   MEDIAN SALES PRICE IS UP.

Sellers are taking advantage of this trend and are listing their properties at a higher price, and are not willing to negotiate prices down.  Buyers on the other hand, have a hard time accepting that a property is listed for a much higher asking price than similar homes that sold just a few months ago.

The difference is availability.  Our inventory is down to a very healthy level of 5,150, a 6 month supply, down  22.7% from just a year ago. (All types of properties combined)

 Monthly Snapshot

Residential real estate activity by members of the Pinellas  Realtor Organization comprised of single-family properties. Percent changes are calculated using rounded figures.

       +16.7%                               +10.7%                                      -18.0%

One-Year Change in  CLOSED SALES       One=Year change in  MEDIAN SALES PRICE                  One-Year Change in HOMES FOR SALE

Single Family Properties                                     Single Family Properties                                                      Single Family Properties

If you have been waiting for higher prices in order to sell, this might be a good time.  If you have been waiting for prices to fall even further, wait no longer.  I have the tools and resources to help you achieve your real estate goals, and I’ll be glad to help.

Statistics on condos and single family homes are available upon request.

 

New Citizens Property Insurance Corp. Rule – Required Inspection

Any homes 30 years or older, will be required to have a passing 4 point inspection after September 1, 2012.  This means that any home built in 1982 or earlier, and closing after September 1st must have and pass the additional inspection.

What does 4 point inspection mean?

The 4-point means that the inspector will examine the home to make sure that it is up to code. It covers the main four points in a home:

Plumbing          Electrical          Roof        HVAC

Other insurance companies have asked for this inspection for many years, so this is not going to be a surprise for many people.