The Gary & Nikki Team has over 25 years of experience selling homes in the Tampa Bay area. This list of recent sales by our Team is our resume to future clients. Even in this challenging market we are selling homes, some in as little as 9 days!

Homes We Have Sold For Our Clients

Dunedin Waterfront Luxury Home Sold – Baywood Shores
2438 Baywood Dr W– Previously listed with 3 other firms for 824 DAYS- NO SALE
Dunedin Waterfront Home listed by the Gary & Nikki Team at $749,877 and SOLD AT FULL PRICE $750,000!!!

Tarpon Springs Waterfront Luxury Home Sold – Whitcomb Point
322 Manatee Ln– Tarpon Springs Waterfront Home
Listed by the Gary & Nikki Team at $569,500 and SOLD BY US at $520,000 in just 44 days!!!

Oldsmar Luxury Home Sold – East Lake Woodlands
2084 Diamond Ct – Listed by the Gary & Nikki Team at $500,000 and SOLD BY US at $445,000 in just 188 days!!!

Palm Harbor Luxury Home Sold – Pipers Meadow
687 House Wren Cir – Listed by the Gary & Nikki Team at $320,000 and SOLD ABOVE FULL PRICE at $321,000 in JUST 9 DAYS!!!

 Countryside Luxury Home Sold – Landmark Woods
2854 Glen Hollow Dr. – Listed by the Gary & Nikki Team at $333,000 and SOLD BY US at 320,000 in just 41 DAYS!!!

Palm Harbor Luxury Home Sold – Pinnacle at Cobb’s Landing
Short Sale –Another Seller Saved From Foreclosure
2277 Pinnacle Cir N- Listed by the Gary & Nikki Team at $275,000 and SOLD ABOVE FULL PRICE at $287,300 in JUST 62 DAYS!!!

Holiday Waterfront Luxury Home Sold – Bailey’s Bluff Estates
2112 Bayou Dr. – Previously listed with 2 other firms for 272 DAYS- NO SALE
Listed by the Gary & Nikki Team at $299,900 and SOLD BY US at 270,000 in just 30 DAYS!!!

Tarpon Springs Home Sold – Shadowlake Village at Woodfield
962 Cobblestone Ln – Listed by the Gary & Nikki Team at $275,000 and SOLD BY US at 271,000 in just 5 DAYS!!!

Safety Harbor Home Sold – North Bay Hills
37 Osprey St – Listed by the Gary & Nikki Team at $250,000 and SOLD AT FULL PRICE $250,000 !!!

Tampa Home Sold – Richmond Place
8129 Brinegar Cir. – Listed by the Gary & Nikki Team at $250,000 and SOLD BY US at $248,900 in just 29 DAYS!!!

Palm Harbor Home Sold – Hidden Meadows
Short Sale –Another Seller Saved From Foreclosure
2284 Hidden Meadows Dr – Listed by the Gary & Nikki Team at $150,000 and SOLD BY US at $142,000 in just 79 DAYS!!!

Largo Home Sold – Central Park Estates
339 Andrea Dr. – Previously listed with another firm for 284 DAYS- NO SALE
Listed by the Gary & Nikki Team at $135,000 and SOLD AT FULL PRICE $135,000 in just 18 DAYS!!!

Tarpon Springs Home Sold – Florida Oaks
1033 Rosetree Ln. – Previously listed with another firm for 335 DAYS- NO SALE
Listed by the Gary & Nikki Team at $125,000 and  SOLD AT FULL PRICE $125,000 in just 36 DAYS!!!

Homes Sold To Our Buyers

North Redington Beach Waterfront TownHome Sold –Tides Village Yacht Basin
139 Yacht Club Cir #139 – WE BROUGHT THE BUYER!!
ANOTHER LUXURIOUS WATERFRONT HOME SOLD BY THE GARY & NIKKI TEAM at $429,000!!!

Tampa Waterfront Home Sold – Mandolin/West Chase Area
11726 Gothic Ln – WE BROUGHT THE BUYER!!
ANOTHER LUXURIOUS PONDFRONT Home in TAMPA SOLD BY THE GARY & NIKKI TEAM at $380,000!!!

Odessa Luxury Golf Course Home Sold – Turnbury at the Eagles
16105   Turnbury Oak Dr. – WE BROUGHT THE BUYER!!
ANOTHER ODESSA LUXURY GOLF COURSE HOME SOLD BY THE GARY & NIKKI TEAM at $349,900!!!

Lutz Lakefront Short Sale Home Sold – Cambridge Cove
2237 Shirecrest   Cove Way- WE HELPED THE BUYER BUY THIS SHORT SALE!!
ANOTHER LUTZ LAKEFRONT SHORT SALESOLD BY THE GARY & NIKKI TEAM at $299,900!!!

Palm Harbor Home Sold – Hidden Lake
2684 Rolling Oaks   Dr - WE BROUGHT THE BUYER!!
ANOTHER PALM HARBOR HOME SOLD BY THE GARY & NIKKI TEAM at $250,000!!!

Palm Harbor Short Sale Home Sold – Eniswood 1144 Eniswood Parkway -
WE HELPED THE BUYER BUY THIS SHORT SALE!!
ANOTHER PALM HARBOR SHORT SALE HOME SOLD BY THE GARY & NIKKI TEAM at $219,000!!!

Seminole Home Sold –Boca Ciega Ridge
12232 Imperial Dr. - WE BROUGHT THE BUYER!!
ANOTHER SEMINOLE HOME SOLD BY THE GARY & NIKKI TEAM at $239,000!!

Clearwater Home Sold – College Hill Estates
764 Ruskin Rd – WE BROUGHT THE BUYER!!
ANOTHER CLEARWATER HOME LISTED & SOLD BY THE GARY & NIKKI TEAM at $170,000!!

What sets The Team above other agents when it comes to selling this many homes?

First and foremost, they are a TEAM. With specialists trained in helping clients buy, sell and close, they bring the power of group achievement to each and every real estate transaction. Combine this team strength with continuous training,  specialized certifications in short sales and luxury home marketing and you have a team that is among the leading REALTORS® in Tampa Bay on your side.

What is the most important thing a seller should look for when hiring a real estate agent to sell their house? We are often asked this question. Is it the size of the company they are licensed with? Is it their marketing program? Their years experience in the business? Should you choose the agent who suggests the highest listing price?

There are many things that should be taken into consideration when hiring someone and giving them the responsibility for selling your home. In our opinion, the most important question you can ask a potential listing agent is a simple one:

Do you truly believe that now is a good time to buy a home?

Why should this matter when hiring someone to SELL your home? Buyers are nervous about purchasing right now. They want to know they are making an intelligent choice. We believe, especially in today’s market, you need to hire someone who realizes that this is one of the best times in American real estate history to buy. If an agent doesn’t believe that, how will they be able to convince a potential buyer to buy your home?

When interviewing a real estate professional, ask them to explain why purchasing a home makes sense today. They should be able to explain it simply and effectively. See how many of the following facts (which should be shared with every potential purchaser) the agent knows:

The Wall Street Journal last week stated:

“With home sales starting to improve, and with prices now possibly forming a bottom, real estate could well be the asset class that represents the best low-risk buying opportunity out there today.”

Donald Trump was just quoted saying:

“I’m pretty sure this is a great time to go out and buy a house. And if you do, in 10 years you’re going to look back and say, ‘You know, I‘m glad I listened to Donald Trump’.”

John Paulson, a multibillionaire hedge fund operator and the investment genius who made a killing betting against housing a few years ago, is now bullish on residential real estate market. He recently said:

“If you don’t own a home, buy one. If you own one home, buy another one. If you own two homes, buy a third. And, lend your relatives the money to buy a home.”

A recent Gallup Poll showed that 67% of American’s think that now is a ‘good time’ to buy a home. The Gallup Organization went on to say:

“Overall, there is good reason for most Americans to think now is a good time to buy a house. Interest rates remain near historic lows. Home prices are down sharply, providing many incredible buys.”

The iconic financial paper in this country, the country’s most famous real estate investor, the most successful prognosticator of the housing market and 2/3 of all Americans say now is the time to buy a home. Shouldn’t your agent agree?

Bottom Line

Selling is nothing more than the transference of conviction. How can agents transfer that conviction if they themselves are not convinced? Find a listing agent who truly believes that someone should buy your home – TODAY! This is the single most important thing you should look for in a potential listing agent.

Thinking of selling? Call The Gary & Nikki Team Today – The sooner you call, the faster you can sell your home: 727-787-6995

Watch this short video for an explanation of the short sale process.

For a free information package visit our dedicated short sale website: www.stoptampabayareaforeclosures.com

There are many who believe that mortgage delinquencies in their region are  concentrated in the middle-to-lower income neighborhoods. Actually, the research shows the number of delinquencies in the higher priced sections are currently exceeding the percentages in less affluent areas.

The most recent Mortgage Monitor issued by LPS reports that the largest increase in both delinquencies and foreclosures, as compared to 2008 levels, are in ‘jumbo’ mortgages. A jumbo mortgage, according to Wikipedia, is:

“a mortgage loan in an amount above conventional conforming loan
limits…the limit is $417,000 for most of the US.”

In some parts of the country, that limit can be over $625,000. This type of loan finances the higher priced properties in a marketplace.

According to LPS, the percentage increase in jumbo mortgages is as follows:

• Delinquencies: increased 281%
• Foreclosures: increased 589%

Again, these numbers are greater than any other type of loan including Option ARMs and Sub-prime loans.

Strategic Defaults

That doesn’t necessarily mean that the more affluent don’t have the money to meet their mortgage obligations. In some cases, they see their home as a depreciating asset and determine that continuing to put money into it makes little sense. The Washington Post recently reported on this. In the article, they explained:

“The ratings agency Moody’s said that based on its analysis of mortgage-backed bond portfolios, homeowners with jumbos now constitute “greater strategic default risk” than any other type of borrowers, including subprime. That’s because an exceptionally high number of jumbo owners — many in high-cost markets hit by real estate deflation over the past several years — are stuck with persistent negative equity.”

Bottom Line

We often explain that the number of distressed properties in a neighborhood adversely impacts values of other homes in that area. It now appears that even the most affluent areas will be dealing with a supply of discounted properties entering the market as foreclosures.

We believe very strongly that now is the time to buy a home. Some will say we are just saying this to create real estate transactions and commissions. Because of that, today we will quote what those outside the real estate profession are saying to the people who look to them for financial advice.

The Wall Street Journal
Last week, in an article entitled It’s Time to Buy That House, the WSJ told their subscribers:

“It’s an excellent time to buy a house, either to live in for the long term or for investment income…Houses aren’t the magic wealth creators they were made out to be during the bubble. But when prices are low, loans are cheap and plump investment yields are scarce, buyers should jump.”

In an article two weeks ago, MarketWatch.com (the on-line blog for WSJ) told their readers:

“Now could be the best time in history to buy a home.”

Forbes.com
In a report to their subscribers, Capital Economics reported that:

“The previous declines in house prices and the more recent drop in mortgage rates to record lows have created an unusual situation in which the median monthly mortgage payment is more or less the same as the median rental payment.”

Why is this important? Last week, Forbes explained to their readers:

“If rents simply kept up with inflation at a 3.2% annual increase, a $1,500 rent payment would cost that renter nearly $900,000 over the next 30 years. The same $1,500 payment made to their mortgage would be only $540,000 (because the payments don’t increase with inflation).”

They went on to explain the advantages of homeownership during retirement:

“Even with a dismal 1% growth rate over 30 years, a $300,000 property would appreciate well over $100,000 giving the homeowner an additional nest egg for retirement…

At a time when retirement is becoming much more challenging, an extra $400,000 (or likely more) can make a major difference not to mention the impact of NOT having to pay a mortgage.  How much less would you have to save for retirement if you didn’t pay the mortgage?”

Bottom Line
When the iconic financial newspaper and the iconic financial magazine say that it now makes financial sense to purchase a house, perhaps it’s time to buy a home.

On October 31, CNN Money reported: “Home prices headed for triple dip”.  Reporting on information provided by Fiserv (a financial analytics company), a 3.6% fall in prices on a national basis is expected by next summer.  This will result in the Case-Shiller Home Price Index falling to 35% below its peak in 2006 and marking a triple dip in U.S. housing markets.[1]

Say it ain’t so!  Is housing set for a third dip in five years?  This depends on factors being in place to lessen the impact from market anxiety brought on by worries over a pending wave of foreclosures and the U.S. debt crisis, which we will start to hear more about shortly.

So, what are these factors and what do they tell us?  These factors are really fundamental drivers that encourage individuals to buy versus rent their personal residences.  They are sometimes referred to as housing affordability measures.  The price to income, mortgage payment to income, and a buy versus rent analysis for various markets provide strong evidence that factors are in place to encourage home ownership or favor renting depending on the resulting measurements.  In ongoing research being performed by Beracha and Johnson, these measures are at record levels in favor of buying.[2]  In fact, the price to income ratios in 23 of the 50 states are at 30-year record lows.  The payment to income ratios are at 30-year record low in all 50 states.  A buy versus rent analysis performed in 23 of the nation’s largest metropolitan areas also indicates that hurdle rates (the rates at which potential buyers are indifferent between buying and renting) in all 23 cities are below 25-year average appreciation rates.  All of these results strongly favor purchasing.

What about per capita income and present day prices (relative to past prices)?  Presently, U.S. per capita income is on the rise again and has regained to the level of 2007 (roughly $40,000 per person), while prices of homes on the other hand rest at 2002 levels according to the Case-Shiller Home Price Index.  What about mortgages rates?  Presently, 30-year fixed rates are at near record low levels.

So, let’s put this all together.  Housing is presently more affordable than at any time in the last 30 years.  While income is only at 2007 levels, home prices are even lower coming in at 2002 levels.  All of these factors set the stage for many individuals to favor purchasing over renting.  Thus, while there are grave concerns over the overall health of the economy, fundamental drivers now appear in place to staunch any further significant plunges in home prices.

The ship appears to be turning.[3]

Endnote

——————————————————————————–

[1] See http://money.cnn.com/2011/10/31/real_estate/home_prices/

[2] Beracha and Johnson (2011) on going research.

[3] This conclusion obviously assumes nothing unprecedented and catastrophic occurs such as the removal of the home interest deduction to combat the national debt or the often predicted foreclosure tsunami actually finally occurs.

]]> http://garyandnikkiteam.com/2011/tampa-bay-news/the-ship-appears-to-be-turning/feed/ 0 http://garyandnikkiteam.com/2011/local-news/real-estate-as-a-longer-term-investment/ http://garyandnikkiteam.com/2011/local-news/real-estate-as-a-longer-term-investment/#comments Mon, 14 Nov 2011 13:36:35 +0000 admin http://garyandnikkiteam.com/?p=731

Don’t believe all the doom and gloom about the stability of real estate as an investment. Where would you rather have your money? See graph:

Many sellers want to wait until the spring before putting their home on the market. This might be for any of several reasons:

1. They don’t want to be inconvenienced during the holiday season.
2. They believe that they will see more potential buyers and as a result will get a higher price.
3. In the northern part of the country, they might not want people walking through the snow and then into their house.
4. All of the above

In a normal real estate market, this may make sense. However, this market has been anything but normal. This spring will also see some abnormalities. The biggest difference will be the direction prices will take.

In years past, the spring market would favor the seller because increased demand would outpace any increase in supply: the number of houses coming onto the market would not be as great as the number of buyers newly entering the market. In most situations, when demand is greater than supply, prices increase.

The reason this spring will be different is that the supply of homes coming to the market will be dramatically impacted by foreclosure properties being released by the banks. Many believe this increase in inventory will far outweigh buyer demand. In situations where supply is greater than demand, prices decrease.

Will This Actually Happen?

RealtyTrac, in their latest foreclosure report, explained:

U.S. foreclosure activity has been mired down since October of last year, when the robo-signing controversy sparked a flurry of investigations into lender foreclosure procedures and paperwork. While foreclosure activity in September and the third quarter continued to register well below levels from a year ago, there is evidence that this temporary downward trend is about to change direction, with foreclosure activity slowly beginning to ramp back up.

This will impact prices.

What Do Experts Believe the Impact Will Be?

Here are the pricing projections by several major entities:

• Zillow believes we will not see a bottom in prices until the first quarter of 2012.
• Standard & Poors thinks prices will drop %5 in the next few months.
• JP Morgan Chase believes prices will depreciate 6 to 7% over the next six months.
• Barclays says prices will fall 7% by the end of the first quarter of 2012.

Bottom Line

You may pay a hefty price for the convenience of not having your property on the market right now.

CALL NOW!
The Gary & Nikki Team will help you achieve your real estate goals: 727-787-6995

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