Tampa Bay Appraiser's Blog

Pacific Investment Management’s Bill Gross plugged a plan floated a few weeks ago that would allow millions of homeowners to refinance their mortgages at today’s rates, which are the lowest in generations.

With Treasury Secretary Timothy Geithner moderating a panel, Mr. Gross said the U.S. could easily refinance every current mortgage borrower, who is paying a rate above 5%, with a loan backed by Fannie Mae, Freddie Mac, and the Federal Housing Administration, returning tens of billions in savings.

With mortgage rates at their lowest levels in more than 50 years, some economists say the answer is a slam dunk: Make it easier for homeowners to refinance.  In turn, some analysts are saying the result of such a refinance boom would lift housing prices by 10%- 15%.

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“If these statistics do not show stabitlty and an increrase in home values in a  “DOWN ECONOMY” I will eat my appraisers Hat”.  THERE IS NO BETTER TIME TO BUY OR REFINANCE IN THE FISHHAWK RANCH MARKET.

AVERAGE # OF SALES PER MONTH (LAST YEAR) = 65                      STABLE

AVERAGE ABSORPTION RATE/MONTH (LAST YEAR) = 17.61  INCREASING

AVERAGE MONTHS OF HOUSING SUPPLY =  9.14 MONTHS        DECREASING  

CURRENT MEDIAN SALES PRICE = $295,000                                       INCREASING

CURRENT AVERAGE SALES PRICE = $328,931                                      INCREASING

MEDIAN SALES DAYS ON MARKET = 68                                                    STABLE

MEDIAN LISTING PRICE = $289,950                                                           INCREASING

MEDIAN LISTINGS DAYS ON MARKET = 73                                           DECREASING    

MEDIAN SALES % OF LIST PRICE = 96%                                                     STABLE 

Criteria:  MLS data, 3 and 4 bedrooms over the last two years in FishHawk Ranch Subdivision Lithia, FL

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. 

Here to help!!!

Jon Tipton, Realtor/Certified Appraiser

813-391-6121

10 Things Great Appraisers Do (You did not know about)

1.  Avoids making assumptions and knock on a door to get information
2.  Want to know the real value and not if they qualify for a loan amount
3.  Thinks like a buyer and asks what drives them to make decisions  continue reading…

Do not allow an inexperienced appraiser kill your deal because that individual is not from your area.  What is the reason appraisers most often kill deals?  Industry professionals overwhelmingly named appraisals as the biggest obstacle they face in getting deals to the closing table.

Legislative changes under the Home Valuation Code of Conduct have created a flood of out-of-town appraisers who, many complain, routinely undervalue properties.  That, in turn, threatens buyers’ mortgages, and makes them think they’re overpaying where they could potentially walk away.  continue reading…

The word “Tampa” comes from the Calusa (sometimes spelled Caloosa) Indians. The Calusa Indians lived in West Central and South West Florida until being virtually wiped out by explorers (and their diseases) between 1500 and sometime into the 1800’s. The Calusa called this place Tanpa (with an “N”), which translates to “sticks of fire.” Some have said that this refers to the abundance of kindling and driftwood along the Hillsborough river (sticks to make fire), but I agree with those that say it is a reference to the constant barrage of lightning storms in the area (sticks made of fire). Yes, Tampa Bay is known as the lightning capital of the US. When the white people came and took this land from the Indians, they had a difficult time pronouncing Tanpa, and took it upon themselves to change the N to an M.

Welcome to the lightning capital of the world- “Sticks of Fire.”  Here’s how to caluculate the distance of a strike:  Calculate-the-Distance-from-Lightning 

Jon Tipton, Realtor/Certified Appraiser

813-391-6121