Housing Market Index Emphasizes Builder Confidence in 55 and Over Homebuyers
The November 2012 report released by the National Association of Home Builders, frequently referred to as NAHB, indicates growing builder confidence in the 55 and over housing market. The third quarter 2012 showed the increase in the 55+ Housing Market Index (HMI) for single-family homes has risen from 12 to 36 in just one year. This is a record high for the third quarter of HMI, started in 2008. It is a welcome surprise to developers and builders. The general feeling is that people in that age group are making a life-change decision on whether an apartment or home best suits their lifestyle. Either choice is good for the market.
The HMI consists of three segments for the 55+ market. A survey focuses on builders and how they view prospective buyer traffic, current sales and anticipated 6-month sales. Choices are poor, fair or good, with a higher number indicating positive results. If the index is below 50, conditions are poor. The paradox in the recent index is that each component reflects less than 50, but has stirred excitement. What did the builders say about the 55+ market?
Rental apartments for this age group had an impressive recovery in 2011 and increases in the 3rd quarter 2012. There were increases in all areas:
- Present production up 6 points to 31.
- Anticipated future production up 9 points to 35.
- Current demand for existing units up 2 points to 42.
- Anticipated future demand for existing units up 2 points to 44.
Single-family homes represent a healthy improvement:
- Present sales up 25 points to 36.
- Expected sales (next 6 months) up 27 points to 42.
- Traffic of prospective buyers up 20 points to 33.
Multifamily condominiums are still the weakest part of the 55+ housing market, although the overall increase to 23 points (up from 13) is the highest 3rd quarter reading since 2008. Results of each area are:
- Present sales up 13 points to 22.
- Anticipated sales up 19 points to 29.
- Traffic of prospective buyers up 11 points to 22.
Will the upward trend continue? The indicators are positive, with conditions improving across the nation. Deterrents include difficulty in selling current homes due to tight mortgage credit and a shortage of buildable lots in market areas drawing the attention of the fifty-five and over market.
If you have any questions or are considering the purchase of a new home in Tampa Bay, FL or moving to the primier active adult community of Sun City Center, please visit www.tampa2enjoy.com.
Things to Know about Your Neighborhood
If you are a sports fan that enjoys catching a big game on big screen TV with other fans around you, the community clubhouse is one reason for you to consider purchasing one of the homes in Seven Oaks. Those that enjoy quiet walks and seeing spectacular scenery along the way will find that opportunity, as well. Located in Pasco County, Seven Oaks covers 2500 acres of homes, parks and nature preserves.
Those, of course, are good things to know, but there are other important things to know about your neighborhood, whether it is where you live now or one of the areas of real estate in Tampa Bay you are considering for a move.
One thing, for example, is a library and the hours and books on hand. The New River Library serves homes in Wesley Chapel, of which Seven Oaks is a part, and Zephyrhills. The quality and number of books, as well as hours of operation, is very good. Libraries provide free internet service and a variety of reading material to enhance reading skills and knowledge of residents of all ages.
Shopping for groceries, sundries, clothing and accessories should be easily accessible. Residents will find a variety of stores nearby, including Target, Publix, Walmart, JC Penney and Macys. Shipping packages is convenient with the UPS store.
Imagine the delight of enthusiasts who only need to travel about 30 miles to see three pro teams during their respective seasons. Football features the Tampa Bay Buccaneers while baseball provides games from the Tampa Bay Rays. For hockey fans, the Tampa Bay Lightning, winners of the 2004 Stanley Cup, conducts its home games at the Tampa Bay Times Forum.
Of course, living in Florida requires that you know where the closest public golf course is so you can either direct or accompany friends and relatives that come to visit. Located off Bruce B. Downs Boulevard is Pebble Creek Golf Club, a nice 18-hole public course with challenging play and beautiful scenery.
All of the above are excellent things to know about this neighborhood.
Emergency Community Services in Tampa
The housing market is definitely on its way up, encouraging both buyers and sellers to consider the condition of the community and how it affects residents, businesses and homes. One of the best sources of information is a real estate agent in that area. A variety of articles and information about community agencies, including attitudes, response and support, is usually available for review.
Crime occurs everywhere, with online statistics readily available for many areas. Because some developments are lumped into a major group of records, rather than sorted out, you might not get the right information about the real estate in Tampa that you are considering. You can check the overall comparison of a city to the state and US average. Check online crime reports for Tampa. If you have young children, it is important to be wary of living near those with DUIs or other types of criminal behavior.
Public response agencies such as the fire and police department keep records of response times, as well as maintain standard operating procedures for routine and emergency services. Ask if the police station 3 blocks away will respond to your call if your home is located under county jurisdiction and the sheriff’s substation is miles away. Find out where the fire station that covers your area is located and how much staffing they have.
Medical services, including emergency rooms, urgent care centers and ambulance companies, are other features that should be close to the home you own or want to buy in Tampa. Verify that they accept your medical insurance coverage and will not direct you to another facility across town. Check on the reliability and skill of those professionals, as well.
Being proactive within community meetings gives each resident the opportunity to address concerns with statistics. Compliment agencies when they do a good job and stress the need for better procedures and response when a representative of the agency lets the community down. Property value traditionally stays high in safe, responsive communities.
If you have been considering purchasing house in Tampa Bay or have questions about the area, please visit www.tampa2enjoy.com.
Shriners Hospital For Children, Tampa
Tampa Florida hospitals also include one of the most renowned hospitals available in the United States. Shriners Hospital for Children, Tampa, offers some of the best doctors in the world today. Located just around the corner from the University of South Florida, Tampa Shriners Hospital for Children treats children who are suffering from orthopedic and neuromuscular issues.
Giving children who are ill an environment in which they can be comfortable and at ease is important to the staff of Shriners Hospital. The hospital is focused on doing anything they can for the children and their families. The care which is offered is family centric and focuses entirely on the children and their families. They believe that the family is the expert on the child.
Featuring team meetings with surgeons, physicians and other caregivers, as well as support groups to help the parents and the caregivers, Shriners Hospital for Children finds a way to make every child more comfortable. Social workers afford you the opportunity to express your concerns and work through them, while helping you to find the resources that you need to deal with anything you are working with.
From activities for other family members, to helping you to get quality and affordable meals for other family members, and bigger rooms to allow you to stay with your child in the hospital more comfortably, Shriners Hospital takes giant steps toward the best hospital experience that you can get. They even provide on-site laundry services for patients and their families.
Extended stay patients have access to transportation to various areas of the Tampa community to help them to get around more easily. When you have a child in Shriners Hospital for Children in Tampa, you can expect the best care and facilities that it is possible to get. Healthcare in Tampa Florida doesn't get any better than this.
Sun City Center Homes and the Area
Sun City Center is basically an active adult community 55 and older. Like any active adult community and this is one of the larger ones in Florida, it is not nearly the size of some other ones but it is definitely large. There is just a ton of stuff to do, you name it, people who live in Sun City they absolutely love it. It is relatively convenient to the beaches, it is in South Tampa. It is a little far away from Downtown Tampa for the people who like to go shopping but that is usually not a problem because most everybody who lives there is retired. It is certainly a good option and there are a lot of homes for sale single family homes basically ranging from the low $100,000 up to a little over half a million. A lot of the places there look like single family homes, but they are really zoned a condominium. If you look at it on the internet, you would think wow this is a really inexpensive single family home, but you have to be careful and you have to look for what the homeowners association dues are because chances are that single family home may be a condominium. There are not a lot of townhomes there. Of course there are a lot of single family homes up in the near $500,000 range and even over $500,000.
Understanding Community Life Cycles
Anyone interested in buying or selling Tampa real estate should understand the natural life-cycle of a neighborhood. Communities are a lot like people; they undergo various changes throughout their natural lifespan. By understanding what stage Tampa Bay communities are in or likely to be entering; it is possible to make a hefty profit especially given the recent influx of foreclosures or potential for short sales on the market.
When it comes to real estate life cycles, it is important to understand the building boom and bust cycle. Recently, the entire nation experienced a major “boom” cycle where new homes and entire communities cropped up overnight. Across the nation large tracts of land were developed and new communities created seemingly out of thin air. A similar scenario happened during the 70’s. Although large nationwide boom/bust cycles are less common, every city experiences similar – albeit smaller – cycles.
Stage 1 – Brand New Buildings. The first stage of a community is characterized by brand new buildings, a convenient yet slightly out of the way location (usually on the edge of town), new amenities and other modern conveniences. Because the neighborhood is new there is little sense of community. Most homes are financed by conventional methods and purchased by moderate to upper incomes buyers. Little maintenance is required and there are very few rentals available.
Stage 2 – Stable Communities. After five to ten years the community has become more stable; neighbors know one another and new residents come into the area through the sale of existing homes. Normal maintenance on the homes is required and financing may take place to enhance some homes or provide for “extras” like pools or additions. There are a few homes in the area used for rentals which typically obtain better than average rates.
Stage 3 – Mature Communities. Once a community is 10 to 15 years of age it begins to experience a greater percentage of transition; more Tampa Bay homes are used as rental income properties as inflation and appreciation combined with the pay-off of 15 year mortgages makes it profitable to rent these homes. Since the average homeowners remains in a house for 5 to 7 years, most of the original buyers have either transformed the home into an investment property or have long since moved to another community. Major maintenance is required for roofing, HVAC systems and other upkeep. Depending upon the demographics and income bracket of the neighborhood, signs of deferred maintenance, neglect and other problems can begin to decrease the value or – if the homes are generally kept in good repair – the community transforms into a desirable area for first-time buyers and upper income renters.
Stage 4 – Decline. Homes in distressed areas with high crime rates and low incomes that are unable to sustain required maintenance and upkeep on the properties will typically fall into a state of decline. Neighboring homes in a state of disrepair further depress market values of remaining homes with the result of attracting only the most marginal buyers. High numbers of rental properties and undesirable or criminal elements further depress the value of homes in a vicious cycle of decline which will eventually require intervention.
Stage 5 – Renewal. Once a community has fallen into an abject state of distress and decline, it may continue for decades until a government or private entity take the initiative to intervene. Renewal and renovation projects must be comprehensive and encompass the entire area in question for success; Tampa historic districts like Hyde Park, downtown development cycles and other projects are common examples of successful renewal and revitalization projects.
Riverview Real Estate Review: Community Facts
Riverview, FL real estate remains one of the most popular destinations in the Tampa, Florida area so this week we will cover the 33569 zip code located in Hillsborough County by concentrating on the “happiness factor”. The happiness factor is more concerned with lifestyle and living with people that share similar interests. For example, the popularity of retirement communities came about due to the shared interest, activities and values of those people in a given cohort – retiree’s often prefer mature company rather than kids playing on every corner. Likewise, different communities tend to attract people with certain values and Riverview is one such place. Find out if Riverview is right for you by exploring this week’s zip code spotlight.
All American. At over 40 percent, the largest segment of Riverview is comprised of people who are probably best described as “All American” since they exemplify the modern family. The convenience of fast-food restaurants, Walmart and other low cost shopping/dining is a major feature for these exurban types. Typically younger with a lower middle class income, the median household income is just over $43,000 for this group. They tend to drive economical cars (think Kia) and work in solid manufacturing or construction related jobs.
Yester-year. At 37 percent, the next largest segment of Riverview resembles something from a Normal Rockwell picture with old-fashioned values; favorite past-times include hunting, fishing, sports and spending time with the family. This group tends to work in well paid blue collar jobs with a higher than average household income of roughly $55,000. This group works hard and plays harder with a tendency to spend their money on boats, campers and motorcycles. They tend to drive pick-up trucks especially Chevy or Ford…and like country music.
Family-Time. Comprising just over 30 percent, the middle segment is defined by the desire to escape the city in order to have time and money to spend on the children. These dual-income households are busy raising young children, tend to be two-income households, dine more often at Chuck-E. Cheese rather than a fancy steak house and drive economical cars. With an average household income of over $57,000 this younger group is college educated but typically have fewer assets than their counterparts due to student loans and young children that require daycare.
Lean and Green. At 23 percent, the final segment you are likely to find in the Riverview zip code is the lean and green crowd. This group is typically middle aged with an average household income of approximately $58,000 without children. Typically college educated they are active, enjoy sports, married and own newer homes. With above average income producing assets, this group tends to put a high value on the great outdoors but still desire the convenience of living near work. They tend to drive economical foreign cars like a Subaru and appreciate good food and documentaries for a relaxing evening.
Is Lutz An Ideal Community?
Located just north of Tampa in Hillsborough County, Lutz is an awe-inspiring community that offers a great deal more than just a home, it offers a lifestyle. Lutz started with the construction of a train depot on the Tampa Northern Railroad line in the early 1900’s. Aptly named, “Lutz Station” by William Paul Lutz, the community finally found a place on the map with the installation of a post office. Since then, the community started growing exponentially in the 1960’s, when residents of Tampa migrated inland from the coast. The total area of the quaint community is approximately twenty three square miles, but with the influx of residents continuously migrating to this lush community, it will continue to grow.
Lutz homes for sale offer not only sprawling homes, but a quality of life that is unmatched by other standards. The homes for sale are extravagant and stunning, to say the least, but it is everything else that is offered that makes this community ideal. For children, this community is an innovative authority on environmental efforts. A school in Lutz, Florida, today officially opened the nation's first modular classrooms to be registered for Platinum certification from the U.S. Green Building Council (USGBC) Leadership in Energy and Environmental Design (LEED(R)) for Schools program. The campus' 30 acres of woodlands and ponds are living classrooms that also allow them to learn how to live eco-friendly lives (*). Community camps are offered throughout the summer, which include baseball, martial arts, tennis, and cheer camps. There is also a Cub Scout troop available.
For adults, golf courses offer some of the finest play in the Tampa area. The TPC of Tampa of Tampa Bay Golf course will challenge anyone’s handicap, and is located only a few minutes away from two adjacent courses, Heritage Harbor Golf and Country Club and Cheval Golf and Country Club. Fitness classes are available locally, which include yoga and pilate. Lutz is proud of its distinctive art galleries, The Beck Gallery and the Alexandria Art Gallery, which are open to view. There is an assortment of eateries; everything from fine dining to eating on the go is only a few minutes away. Conveniently situated between Dale Mabry highway (597) and Suncoast Parkway (589) commuting is a breeze. Tampa is only about thirty minutes away.
Lutz, FL real estate offers more than just a home, they offer a connection to life. The quaint community (population, 17,054) allows everyone to feel part of something greater than just living; a community that cares, shares, and appreciates the finer values that life has to offer. Come and see the Lutz homes for sale. Immerse yourself into a community with distinction and see what is offered; you may not ever leave.
The Benefits of Purchasing a Home in a Gated Community
You are looking for a perfect home?
In regard to finding the perfect home, safety and security likely is a growing concern. When it comes to Tampa real estate, there are many safe neighborhoods that you can choose from. As you go about looking for a safe and secure neighborhood to call home, you will want to give serious consideration to moving into a gated community. In considering Tampa real estate, there are a good number of gated communities from which you can choose. In the end, you will be able to realize some significant benefits from living in a gate community.
Perhaps the most significant benefit that you can realize through life in a gated community involves security issues. First and foremost in this regard is the fact that access to your neighborhood will be tightly controlled. Only approved people will be able to access such a community. The number of people that simply can wander into your neighborhood sharply will be curtailed when you select a gated community to call home.
When considering a gated community and security, you also need to keep in mind that there are a good number of Tampa gated communities that now offer twenty-four hour, around the clock security on site. In such circumstances, you really can rest assured that you have the optimum safety and security possible in a neighborhood.
Interestingly, many gated communities also have nicer outdoor amenities available to their residents. Because the community is gated, contained and secured, it is easier to have nice outdoor amenities that can be maintained and protected without the undue risk of damage or wear from outside forces and the like.
On a somewhat related note, there tends to be a stronger sense of community in a gate community. Neighbors really do tend to want to get to know one another because they feel like they really do have something in common when living in a gated community.
As a rule, the association and related fees connected with a gated community actually do not tend to rise much higher than those assessed in a similar community without gating. The reality is that the benefits you actually will obtain from living in a gated community will be worth the slightly additional cost or fee that you will end up having to pay in some instances.
If you want to find a Tampa gated community that best meets your need, you will want to consult with a Tampa Bay Realtor that can assist you in finding a gated community that will best meet your needs, objectives, goals and desires not only today and into the future. With this assistance, you will be able to find the home of your dreams in a perfect neighborhood setting that will be idyllic for you and your family.