Tampa Bay comes in at 7th in the Top 10 metropolitan areas with the greatest month-over-month changes in median sales price. What do you think about this?
Here's the latest and most accurate Tampa housing market report for November.
I am very surprised how strong the Tampa market is for November. Usually it really slows down from October to November, but this year it got better. WOW!
Don't forget to visit our Tampa Bay real estate website at www.tampa2enjoy.com and call or text me if I have help you.
Here's the latest housing market update for Tampa.
If you have any questions please call or text me.
Visit our Tampa Bay real estate website. Click here.
Informing yourself of the real estate market at the start of your search will prepare you for the home buying or selling process. This Tampa housing market video update for August of 2016 will generally give you a good idea of how the Tampa real estate market is at this time.
There's not a big difference between July/August stats, as we are still in a Seller's market. The market's still tight, so make sure to be mindful of pricing. If you're looking between $100-200K there are few homes available… And higher price ranges ($200K and above) are still tight with inventory as well. Realtors may tend to be desperate with sellers because there aren't a lot of listings out there right now. So don't just choose any realtor because they may not know what they’re doing. Do your due diligence and make sure that you’re picking the right realtor as your representation. And as a home buyer, you will most likely be in a multiple bid situation with this current market and that’s why it’s so important to choose the right real estate agent for you and your family. You'll need someone who knows how to handle multiple offer situations so that you can beat out the others and win the home.
Hi everybody my name is Lance Mohr and I’m a real estate agent here in Tampa, Florida and I wanted to go over this overview on my website Tampa2enjoy because I’ve put my 20 plus years in this industry into this website and it is not just for people who are going to be moving to Tampa though there are certain aspects of it that are just for people who are going to be living in the area but whether you are living in other parts of Florida or even in the country there’s a lot of really, really valuable information and a lot of things you could find on this website. The reason why I did it like this and structured it to be so educational in all areas is because when my wife and I moved out of Texas, Dallas in 2005 and we got to Florida it just seemed like all of the websites were the same; no one could give us any information or tell us anything so what I wanted to do is I wanted to build a website that could answer about 99% of everybody’s questions, not just my questions or your questions but everybody’s questions. Let me just go over this and I will tell you this, if you look at this website and you start actually using it you are going to find a ton of valuable resources on it that you just will not find anywhere else because I have done a lot of the searching and everything for you and I have spent hours, weeks, and months looking for stuff so you don’t have to.
I just think we are in an information society and you need to give people not only information but correct and accurate information. So let me just go through this and I’m not going to spend too much time on each one of these because I don’t want this to be a very long video but we will just start off right here under area information. The first is the crime reports. I think this is just…I will take you to the page right here this in my opinion is just a great company. I spent weeks looking for all of the different ones and playing around with them. What is really nice about this right here…you can go in and enter a city, you can move the map around, zoom and zoom out, if you are looking at a specific home just enter the address right here and it is going to take you to all of the crime and you can look at it and you can see there are little dropdowns for different…to enter homicides or what you want to do or if you want sexual offence, assaults, or offenses or whatever. There’s a ton of stuff. Right here you can do date ranges; there’s a whole bunch of information. This right here you just click on it and as you can see it pops up and says auto burglary and gives the date. It just happened less than one week ago. I think by default they are all about within the week. Again you can zoom in and zoom out and check that out but that is a really good website I think when it comes to crime. I lot of people want to know crime when they are moving in the area. The other is school information. The school information is more the county school information whether you are in Hillsborough, Pasco, or Pinellas County the school reports and profiles are more of an independent company; a site with different profiles and independent reports of schools. The lifestyle search right here I wish I had this and wish it was around when we moved here because this was really important to me. This is what it is right here; my wife and I when we moved to Tampa it was really important to me to have a health club around me and to know where the different health clubs are, churches, etc. This is really good. It defaults on the homes for sale page right here but I don’t use their homes for sale because it is in my opinion pretty much junk. Just click on the lifestyles search right here and you can see you just turn it on and you can go to schools. You can search by schools, worship centers, fitness centers, golf courses, and what it will do, I’ll just do this really quickly on fitness; just put a little dot right there and you can see they all pop up right here. Now keep in mind some of this information you are seeing they could be if you are looking for say fitness it could be a karate studio. If you are looking for hospitals it could be an urgent care. This is how they input it and how they let people know in karate studios under fitness and urgent care is under hospital. You need to just sort of hover over and look; okay what about right here; there’s LA Fitness great. What’s this one? That’s Quest martial arts studio. Anyhow that gives you a really good idea. There’s a ton of stuff. You can play around with this. You can draw maps. There are all kinds of things you could do; really beneficial. I just have other information in here of things to do. I like theater so I put that in there all the different play houses and the weather and the county maps so you know where the counties are. A lot of people say where is Hillsborough County and where does Hillsborough and Pasco meet or Pinellas etc.?
If you are looking at relocating I have a lot of relocation tips. I’ve relocated myself a few times and I’ve helped relocate, on corporate level, hundreds of families. Sellers there is a lot of information on different seller mistakes and reports right there, interviews and realtor tips. If you want a free home evaluation just fill out your address and I can get you that. The area information; what I’m trying to do with the area information if you look right here and scroll down you will see Apollo Beach and these are some of the bigger subdivisions in Apollo Beach; Fish Hawk Ranch is a subdivision unto itself in Apollo Beach Let me show you what I’ve done on this right here. If you look this is the New Tampa page and it is like this in all the cities. Now some of the cities Carrollwood because it is an older area there’s not…I just did all of Carrollwood because a lot of the subdivisions back in the 70s and 80s are really, really small subdivisions. There are not a lot of really big subdivisions and I don’t want to just do Carrollwood Golf and Country Club. Give you an example, you come over here and you can look and see where the different subdivisions are. You can click right here and that will take you to the subdivision. You can also look at all of the homes for sale and you can see right here. What I did is on cities I do a video and I’m really trying to tell everybody about the city because a lot of times people will say I don’t know anything about Riverview, New Tampa, or Apollo Beach so I’m really explaining to them what type of community it is; not from a sales person’s point of view but my job as a real estate agent is to educate people and give them the correct information and they can make the decisions themselves. That is what I do here. It is a little over five minutes and then I have a write up on it and again down here if you want to do a lifestyle search it is on pretty much every page again just go to lifestyles, turn lifestyles on and then do whatever you need to do.
That’s that and that goes over all of these and then you have different types of searches. Right here videos; the video tips are really good because what I’m trying to do there is really educate people; again we are in the information age. Fortunately there’s a lot of really good information out there for no money; unfortunately there’s a lot of really bad information out there and I see and hear it all especially when it comes to real estate. This video right here is about homestead laws and property taxes; my next one is about short sales and I do ones in bank owned because there’s a lot of information out there in short sales and foreclosures not foreclosed but foreclosure homes that is really inaccurate and I have been doing foreclosures and short sales since 1999. You have information of what are CDD fees. Boy I look a little funny in some of these! Hiring a buyer’s agent, new homes, this one right here if you are looking into new homes this is really an absolute must watch because it just is so in depth. It is my longest video I have ever done 32 minutes which is an eternity for me but it has a lot of really good information. There’s a lot of really good information. I also do statistics. I get so sick of these newspapers and news media reporting inaccurate information. This is raw data taken directly from the MLS. I’m not giving you my opinions on anything I’m just showing you the facts. This is going to be more than the Tampa Bay area in general and not other parts of Florida. Testimonials; these are video testimonials. Our blog has some really good information on it. I don’t put junk in there and of course about us. Again you can search some of these waterfront properties and they try to give you information if you are looking for waterfront properties and what you might want to look for in luxury homes. Again foreclosures etc.; doing a map search and even luxury pages but I’m not going to go through every single one of these; you can look. Go down a little further and there’s property search right here. Here’s the deal breaker for a lot of people. The nice thing and let me just go ahead and click in that and I’ll take you back; the nice thing we have over a lot of these pages out here is this; it might say pages Zillow, Trulia and all of them is this right here. The problem is our MLS sells data to everybody and everybody gets the same stuff. Don’t let anyone fool you like they don’t. They send everybody Trulia, Zillow, individual offices and agents the same information. What I have on my website is I am allowing you to manipulate it in a way most sites are not. What I mean when you are getting all of these other sites you are looking at homes that are actively available for sale and homes that have contracts on them. What I’m doing is allow you to just look at homes that are active for sale because why look at a bunch of homes and fall in love with the home, drive by and look at it, call an agent just to find that the property has a contract on it three weeks ago and it is not even available. They are done with the appraisals, inspection, and are waiting to close and that is what’s happening. This will give you the way to just search just for active listings. You can do this and it is a real big time saver. I also do home buyer webinars. I do two of them per week. It is only about a half-hour long with great free gifts. I do home seller webinars; two per week again fantastic free gift especially in this one for home sellers. All you need to do is just put your first name and your email address to register and pick a date that you want to come and you are good to go. Both of these are about a half-hour long; again I don’t like to just keep on boring you with everything but if you look through the website tons and tons of great information that I’ve done the research for you. I hope this helps you. If you have any questions whatsoever reach out to myself and either myself or team member will give you a call back. I always try to return all calls and emails myself. I wish you the best of luck and have a wonderful day.
Hi, my name is Lance Mohr and I am a real estate agent in Tampa, Florida and I wanted to do this video for home sellers. I know a lot of people were on the internet and they want to find out the value of their home. They are thinking about maybe selling it immediately or six months down the line and they want to get an idea of what it is worth and they are going on different websites like Zillow which is just a joke but anyhow they are going on Zillow and they are filling out market evaluations and they are going on Google and typing in Tampa home prices or Tampa home values. So anyhow let me just give you a couple of tips and I have to say right off the bat, take what I say with a grain of salt because it is not going to resonate well with everybody.
So first thing you need to know when you are looking at getting the value of your home first it depends on how good the real estate agent is or how good the appraisal is. There are a lot of bad appraisers and there are of course a lot of bad real estate agents. Everybody knows that but you want to get someone who knows what they are doing and someone who gives a correct evaluation. I can’t tell you how many times I would follow up a real estate agent and I would ask the home seller but what did they give you? Can I look at it? I would see and they would basically the agent just went in there and they took everything in the subdivision over the past 6 months and they just printed out all the homes that were sold in the whole subdivision and then what they do is they figure out an average price per square foot and then they take that home and they use that price per square foot.
I mean that is just comical. That is not even close to how square footage is figured out or how home values are figured out. As a matter of fact if you ever look at an appraisal or actually see an appraisal and let us say the average price per square foot is selling in a subdivision for say $100,000 just figuratively. It is selling for 100 and you actually look at the appraisal. The appraiser did not use 100. They are going to probably use about 40.00 per square foot because they are not giving you all of the costs for your cabinetry and everything else in the home, the plumbing and everything so it is just based off of just square foot but I am not really here to go over that.
Choose the best pricing
What I want to tell people is I want to talk a little bit about the pricing; how important pricing a home is. If you price a home too low you are going to lose money. Everybody knows that. But what people don’t know is if you price the home too high you are going to lose probably just as much money if not more and I have statistics from the National Association of Realtors to back this up so I’m just not giving you a theory here; not to mention I’ve dealt with thousands of people over my real estate career and I can tell you when they overprice a home it is like shooting yourself in the foot. So the one thing people do and I go in and talk to them and they will say well we want to sell our home but we are not really in a hurry and I completely understand that but here is the thing. Whenever you are selling a home you don’t want to be in a rush and you don’t’ want to underprice the home but you need to do your due diligence because you need to have a goal.
I tell all my sellers the ones that will listen to me; we need to have a goal to sell this within one to two weeks because you want to capture buyers. The shorter a home is on the market, the shorter time period the less negotiating power someone has, a buyer has. Example, you are a buyer and you go out and look at a home. It has only been on the market 6 days. Do you really think you have a lot of negotiating power? Believe me no you don’t. Even if the home is overpriced you still don’t have a lot of negotiating power because it has only been on the market 6 days. Now let’s say the home has been on the market 166 days. Even if it is priced right do you think you have negotiating power? Of course you do. So keep in mind there are only three things that are going to sell a home. It is like a piece of pie. You have to have all three. They are always as important as the next but it all starts with the price because price is the common denominator. The second thing you need to do is conditioning. Most people don’t condition their home. I will get into other videos in this. This is an advantage to use as a seller. Can you imagine going out to a brand new home and the thing is dusty, dirty, and has dings in the wall? It is really hard to show because no one is ever home. They don’t have any floor plans. They don’t have any information to give you on the home. Can you imagine that? _____ would never sell anything.
The third thing is marketing. It is a whole other story because I am just amazed agents are in the business. They list homes They cannot take professional pictures. They can’t put descriptions on it. You call them up and you cannot get a hold of them but that is another thing. So when we talk about pricing but it is important that you know all of these things what it takes to sell a home. So pricing; let me give you some statistics by the National Association of Realtors and take this with a grain of salt. I know a lot of people are not going to like what I have to say because it will probably hit you between the eyes and some of you are just in flat denial but I hope this helps and I don’t mean to be too straight forward with you but I think that is what deep down people really want because we all know most realtors are like politicians they will say anything to get your listing and unfortunately sellers fall for that all of the time. So anyhow, let’s take market value. If you price your home at market value you are only going to have it open to 60% of the home buyers and people say 60% what about the other 40%? Well you have to keep in mind people are looking for homes for different reasons. If someone is buying a home and they are an investor and they want to rent it out, their number one goal is, is it going to rent fast and what can I rent it for. What is my rate of return? If someone is buying a home and they want to fix it up and flip the home well they are going to have to get a really good deal so there are different reasons why it is only 60% but if you overprice your home by just 10%. Okay so your homes were worth $200,000 let’s say and you decide well I’m not in a hurry let me overprice it and let me put it at $220,000 because the buyers are always going to want to negotiate. Well that is what a lot of people think. So they price it at $220,000. The problem is they have just gone from 60% of the market to 30% of the market like that. They have just eliminated half of all the buyers and of course the name of the game is how many people can you get in your home.
Spend time wisely
So the second thing is let’s take the number of weeks in the market. A lot of people know this and I get this if they have sold homes before. They always say well why is it that it was really busy in the beginning and now it has really slowed down. I have not been getting hardly anybody. Depending on the price range of your home and the marketing that your agent does, the average time period is 1 month. You are going to see after about 4 weeks, 3 weeks or 4 weeks the buyers are going to really start trailing off. Don’t think if you get a bunch of buyers in the first week or two weeks it is going to be like that the whole time. No it is going to really dip so it is really important. Again you have a small window of opportunity. If I go out to a home and it is say $100,000 in our area. If that home has not sold within the week I’m thinking this thing has a problem with pricing because we are going to get a ton of people. There are a lot of fish swimming in that sea. If it is a $400,000 home I understand it is not going to sell in a week or two weeks but you have to have a goal. You have to go in with a game plan.
The third is and this is really eye opening to a lot of people. If you could get the home sold within four weeks you are going to be able to get on average, the National Association of Realtors states you are going to get about 1.9% less for your home. Now a lot depends on the price and a lot of different variables the condition etc. But of course keep in mind price is always the common denominator. If you want to hire an agent that does not do any marketing, that does not return any phone calls, that takes lousy pictures, that does not do videos, that does not write descriptions, well you are going to pay a price. Maybe you paid them less than a commission price but you are going to pay in the overall cost of the sale and again if the conditioning is not there. So if a home sits on the market between 4 and 12 weeks you are going to average 3.6% less than the fair market value of the home. If it sits on the market between 13 and 24 weeks you are going to get 5.6% less. And if the homes on the market more than 24 weeks and of course the longer it is going to start adding up. You are at about 9%. So can you imagine not being in a hurry and instead of getting $200,000 for the home which is what you should have gotten, you get $189,000 or let’s say even worse you should have gotten $200,000 for the home but you didn’t get $200,000, maybe you priced it at $220,000 or lowered it to $215,000 and you lowered it to $210,000 and you lowered it to $200,000 which opened it up to a whole bunch of different buyers. You’ve got a buyer that came in but the problem is it has been on the market 158 days. You are going to get on average about $180,000 for that home. That is how important pricing is. Again don’t…you don’t have to listen to me. Take what I say with a grain of salt but these are statistics and I can tell you that this is true. When buyers are buying homes and think back when you bought a home, they always want to know how long has the home been on the market? Everybody wants to know that.
If you have any questions about selling a home, marketing a home, anything, what is going on in the Tampa real estate marketing please do not hesitate to give me a call at 813-317-4009. I also have a lot of these educational videos on pricing, conditioning, how to hire agents, etc. Go to my video page on my website Tampa2Enjoy or just go to my YouTube channel. I have all this stuff. I hope this helps and I wish you the best of luck. I really do. Take care and thank you very much.