Just Listed! 20047 Bluff Oak Blvd., Tampa, FL 33647

20047 Bluff Oak Blvd Tampa FL 33647 front_facade 1

Move-In ready! Gated – Pond.

Located in the heart of New Tampa, this home has 5 bedroom, 4 baths and a 3 car side-entry garage. The front porch leads to the two-story foyer. The formal living room and formal dining room offer ample space for entertaining. The kitchen features granite counters, gas cooktop, center island, and sparkling pond views. The kitchen overlooks the spacious family room, which has sliding glass doors that open to the patio. The first floor also has a pool bath and a bedroom. The spindle staircase leads to three secondary bedrooms and the master bedroom. The master has nature views, 2 walk-in closets, and a master bath with dual vanities, garden tub, and walk-in shower. The home is freshly painted inside and outside. Live Oak Preserve residents enjoy a resort-style pool with hot tub, splash zone, fitness center, basketball courts, tennis courts, playground, and much more! Live Oak has easy access to I-75, I-275, Florida Hospital, PHCC, Center Ice, Wiregrass Mall, and the Tampa Premium Outlets. Taxes include CDD.
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10 Highest Priced Sales in New Tampa

Curious about the Luxury Home Market in New Tampa?

According to MLS sales data for 2011, the top 10 home sales in the 33647 sold for between $679,000 and $1,400,000. Of these 10 homes, 9 were traditional (equity) sales, one was a short sale, and none were bank owned. Top neighborhoods included Tampa Palms, Cory Lake Isles and Hunter’s Green.

The median home had 5 bedrooms, 4 baths, 5660 square feet and an asking price of $1,037,200. The median sale price was $889,200, or about a 12% discount off of the final asking price. The median sales price per square foot was $153. The median home was on the market for 238 days prior to going under contract. Follow these links for 33647 Home Sale Details and a 33647 Sales Comparison of these New Tampa homes.

Thinking of buying? Here is a link to the Top 20 For Sale. For a confidential consultation, contact Annette, Doug or Dale Bohannon today at 813-377-4455.

Market Update For New Tampa

What is happening with home sales in New Tampa? Rather than relying on National Association of Realtor data, what are the 33647 zip code sales numbers?

Our “Year Over Year” report measures the number of home sales each month and compares it with the same month from previous years. While seasonality and previous tax incentives impact the data, distress sales (forecloses / short sales) and consumer confidence also play a role. Check out these 4 Charts that are updated weekly from our New Tampa Market Report or our Neighborhood Reports.

If we compare January closings since 2006, we see a drop in the median sales price from a high of $411,700 to a current low of $219,990 – a 47% decline. The median sale price per square foot has declined from $160 to $83 for single family homes. A total of 47 homes closed in January 2011, which is 20% fewer than closed in 2006.

February sales numbers show a similar pattern. While the 30 closings in February are just shy of the 41 that close in the same month of 2006, the median sales price fell from a 2006 high of $413,602 to a current low of $228,500. The median sale price per square foot dropped from $150 to $90.

While the decline in the median sales price is dramatic, it does not mean that all homes are worth half of peak values. Home values have declined substantially across the board, but the median price indicates that lower priced homes make up the bulk of what is selling. Segmenting the sale data by price range, shows that the inventory of homes for sale in higher price ranges is not turning over as quickly.

Keeping a baseline of historical data allows us to make sense of local market conditions. For more information about your neighborhood, contact Annette, Doug or Dale Bohannon today.

Price to Market – Anchoring

If only we did not buy at the peak, or if we sold a few years ago! While many of us understand that local real estate values have declined 30% – 50% in abstract terms, doing the math on our own home often results in shock and disbelief.

Homeowners have a tendency anchor their estimate of their home’s worth to the price they paid. While the price you paid maybe very vivid in your mind, you may be better off disregarding that number. As Dan Ariely, author of Predictably Irrational notes, “the danger of anchoring is that it can cause regret, which usually isn’t very useful in decision-making…With investing, focusing on what’s already happened is generally a bad strategy. The decision at any point should be only about looking forward.”

When discussing the “High Price of Ownership”,  Ariely’s experiments on behavioral economics show that ownership changes our perspective on the value of an asset. “The more work you put into something, the more ownership you begin to feel for it (think of assembling a piece of Ikea furniture). Once we take ownership of an idea, we probably fall in love with the idea more than we should. We value it for more than it’s worth. And quite often, we have trouble letting go of it because we can’t stand the idea of a loss.”

It is only natural to regret the loss of equity and unfortunate timing of the current market, but taking action today can protect your financial security and prevent the additional losses that are expected over the next few years. The main question should be: given the current state of the market, how can we maximize your outcome?

How can we improve the odds of selling your home for top dollar? To learn about our repeatable plan and home selling system, contact Team Bohannon at (813) 979-4963.

“I am Not a Lead” – The Privilege of Serving

Ran across this manifesto last year and was impressed. Spoke to Marc Davison of 1000 Watt Consulting and enjoyed his thoughts on the real estate business and the mindset that traditional agents have about “leads”. Rather than relying on technologies that de-personalize or attempt to automate “lead response”, Realtors should focus on listening, absorbing and responding with accurate information. This is not about us, it is about the client. The fundamental approach should be to provide high-value, relevant information that is aligned with a client’s goals. One can only build a lasting relationship by treating individuals with respect. Realtors seeking to create “raving fans”  and a durable competitive advantage must connect at a deeper level over an extended period of time to earn the privilege.

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