From the monthly archives:

July 2009

Lennar Homes Heritage Isles Tampa-New Construction starting at 199K

by Rae Catanese on July 30, 2009

Heritage Isles, Tampa, Fl

Heritage Isles in Tampa is a golf and country club community located in the very popular and convenient area of New Tampa. Our community has a 5000sqft clubhouse with a restaurant and bar, banquet room, conference room with internet access, fitness center and the locker rooms have saunas. There is also a huge outdoor swimming pool with a large waterpark slide, 4 clay tennis courts, sand volleyball court, childrens playground and picnic area, driving range, golf school and an 18 hole championship golf course.

Here’s the available homes for sale in Heritage Isles:

Hamilton - 2032sqft 4 bdrm, 3 bath, 2 car garage on conservation reduced from $238,990 to $199,990 homesite 0418

Patriot- 2765sqft 4 bdrm, 3.5 bath, 2 car garage and large bonus room on pond and conservation reduced from $276,990 to $239,990 homesite 0508.

These are August closings and we are now putting in hardwood flooring in the formal dining room and crown molding in the master bedroom & formal dining room as long as the home closes by the end of August.

Lennar is contributing up to 6% of the purchase price toward closing costs and buying the rate down to 4.75% on a 30 yr fixed loan with 3.5%down as long as customers use Lennar’s lender.

Why waste your time with a short sale when you can close in 30 days, get a full builder warranty and incentives!

CALL ME TODAY TO SCHEDULE A SHOWING!

Rae Catanese

813 784 7744

realtyrae@yahoo.com

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Home Staging Advice-Ann Alderson, South Tampa Home Stager

by Rae Catanese on July 20, 2009

in Remodeling and Renovation Tips, Selling Your Home

This is a guest blog post from Ann Alderson, with Home Staging South Tampa. Great advice and ideas to help sell your house in a down market; and it’s not as expensive as you may think!

The final step in preparing a house for market is the most creative step. Once the house has been de-cluttered, cleaned, repaired and neutralized, the last step to creating the right impression and feelings is home staging. This is the unspoken method that makes buyers fall in love and feel themselves owning and living in the home. This is where and how you get in touch with their feelings — the ones that make them want to return, move in and enjoy living in the home.

From Westshore Home Complete

Here are some key points for home staging:

To feel totally comfortable in the home.
To see it as a personal haven from the hectic life outside.
To enjoy the beauty of the structure or view.
To see it as a place to be proud to own.
To see it as a place to show to family and friends.
To see it as a place to live safely and see their family happy.

If buyers emotionally connect with the home, they will often sacrifice a feature on their list. They might even pay a higher price. But falling in love with the home is the key factor. That is why Home Enhancement is crucial when the home is competing with new construction/model homes. Resale homes are at a disadvantage in this market and home staging gives them a leg up. By using vignettes in a room you can easily focus the buyer’s attention in a specific direction.

Remember, when staging, less is more and a room shouldn’t be stuffed full of furniture and accessories. In fact, the room should be trimmed severely. So you’ll want to decide from the beginning what type of room you want it to be featured as and whether the room can double for a second activity or not. For instance, when you work in the master bedroom, see if you can make it a master suite and look for a way to create a seating area in addition to the sleeping space.

Have you noticed in design magazines that the rooms look warm and inviting without actually depicting people in the space? Yet the rooms look like you could relax, enjoy a book, take a bath or entertain lavishly. These are the types of feelings you want to create. This is the secret to successful home staging.

Each room should speak to you in its own way. Maybe it speaks relaxation. Maybe it speaks comfort. Go with that aspect and then try to tweak it to suggest something other than the obvious.

Look for ways you can reach a buyer’s senses — sight, smell, sound, touch. The more successfully you can tap into their emotions, the sooner the sale will take place and the higher the price you will get.

Thinking of selling your home in the Tampa Bay Area? Call a Realtor first!

Rae Catanese, PA 813 784 7744.

Ann and myself will be happy to give you a free home consultation and market analysis.

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Lenders face new laws that will impact your closing date

by Rae Catanese on July 18, 2009

in Financing and Mortgage News, Tampa Real Estate

New lender regulations will make it harder to close on your new house which may cause delays and headaches for buyers and sellers.

Here’s a great article that explains the details of the new program.

From Channelside

It’s no secret that many facets of lending and real estate have changed as a result of the credit crisis. In addition to tightened lending practices that resulted from rising mortgage delinquencies, Washington has been heavily involved in altering the way lenders do business today.

Two individual pieces of legislation impacting our business need to be taken into account when determining closing dates for purchase transactions.

Home Valuation Code of Conduct – The Home Valuation Code of Conduct (HVCC) went into effect May 1, 2009. Intended to shield appraisers from undue influence from loan officers and lenders, this legislation installed a “firewall” between those individuals directly involved in the origination of the loan from the selection of and contact with appraisers.

HVCC also requires that borrowers receive a copy of the appraisal a minimum of three days in advance of closing. Part of the kicker here is that “received” is considered, in effect, three business days after the appraisal has been mailed to the borrower. As HVCC requires a firewall between the originator and the appraiser, the time to receive an appraisal has increased, in some cases by as much as two weeks or more. While this may not always be the case, it is important to take into consideration when considering closing dates. Today, conservative closing dates are mandatory to properly manage expectations of all parties.

Housing and Economic Recovery Act – The Housing and Economic Recovery Act (HERA) amends and impacts several aspects of obtaining a mortgage, the disclosures required for borrowers, and the timing of their delivery. This impacts the minimum time required to close, and should any changes be made to a loan application that could impact the Annual Percentage Rate (APR), this could impact the closing date.

Other than paying for a credit report, lenders may not accept any additional fees from a borrower until four business days after disclosures have been provided to or mailed to a borrower. This has the potential to delay several aspects of the application process.

Finally, upon making application, a borrower is provided a Truth in Lending (TIL) statement, detailing the total expected costs that could be incurred over the life of the loan. Should anything change in the loan application that could change the APR by more than .125%, a new TIL must be reissued to the borrower a minimum of 3 business days before closing. Items impacting the APR could include a borrower accepting a higher interest rate than initially qualified by floating their rate at application, a change to the loan amount, a change in product, a change in closing date, and any changes to fees.

Tell us what you think! realtyrae@yahoo.com or just leave a comment.

Search Tampa Bay MLS , get a comparable market analysis and find out what homes are selling for in your neighborhood.

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Craig's List Rental Scam- Tampa Bay area

by Rae Catanese on July 15, 2009

in Tampa Real Estate Market News & Updates

From Siena Villas-Westshore, Tampa

Search all homes for sale in Tampa Bay

The following information on the Craig’s list rental scam was provided to me from the Greater Tampa Association of Realtors. I just spoke with one of my colleagues and it is not islolated to Hernado County. We have listings in Hillsborough County and are receiving calls from people who are driving by the property first. They are calling the listing agents listed on the sign, which are FOR SALE, NOT FOR RENT but because there is a sign in the yard they think is for RENT as advertised in the Craig’s List website.

Please see additional info and contact your local authorities if you suspect you may be involved.

From THE TAMPA REAL ESTATE INSIDER -Tampa, Fl

We have recently been advised and need to bring to your attention that criminals are scraping (copying) data off of rental listing websites and posting them on Craig’s List with fraudulent contact information to make them appear as if the listing office placed the listing. For example, a rental listing at 1 Apple Tree Road is listing by Jane Doe at Jane Doe Realty. The listing is scraped, posted on Craig’s List, and the contact information is janedoe@yahoo.com. This web address does not belong to Jane Doe or anyone affiliated with Jane Doe Realty. If a consumer uses this address, it is forwarded to the criminal and the consumer has no idea they are not dealing with the listing office.

A report has been filed with the Hernando County Sheriff’s department regarding a specific incident in Hernando County. The Sheriff’s office has reported this scam which goes as far as the criminal(s) drilling into lockboxes and actually placing consumers as tenants in properties that are on the market for rent. These tenants pay the criminals the first month’s rent and security deposit and believe they have a legal tenancy. Obviously, this is a serious concern.

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Westshore Landings New Construction Townhomes-Tampa,Fl

by Rae Catanese on July 14, 2009

in New Construction Tampa Bay

Westshore affordable housing receives financing
Tampa Bay Business Journal

Westshore Community Development Corp. has secured construction financing for Westshore Landings, a work force affordable New Construction town home community in Tampa’s Westshore business district.

The Westshore Landings development consists of 57 two- and three-bedroom town homes with garages, ranging in price from $96,000 to $127,000, a release said.

The Westshore Community Development Corp. provides work force affordable housing opportunities in the Westshore business district. The 501(c)3 nonprofit formed in 2005 to promote community development and redevelopment within the area.

If you would like to receive more information on this project and be notified when pre-sales begin send an email to: realtyrae@yahoo.com with the subject Westshore Townhomes

Search all homes, townhomes and condos for sale in the Tampa Bay area. Visit: www.TampaBayDwellings.com

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New Construction appeals to home buyers looking to close quick-Tampa, Fl

by Rae Catanese on July 6, 2009

in New Construction Tampa Bay, Tampa Housing Market

With foreclosures still saturating the market and homebuyer demand remaining tepid, local developers and homebuilders are increasingly offering incentives and using other tactics to sell their new houses and condominium units.

Buyers in the Tampa Real Estate Market are in a great position to buy New Construction because the builders are competing with incentives and they have the ability to close quickly. Short sales have deterred buyers who want to purchase but are getting frustrated waiting. Being able to close quick is a huge advantage in buying something new. Not to mention builder warranties and sometimes even lower interest rates by using a builder’s lender.

From Wilderness

Lennar recently offered units at its River Terrace Condominiums at River Strand project for $1,000 or less per month, with financing starting as low as 3.5 percent – about two percentage points below prevailing mortgage rates. The Miami-based builder also included free golf and tennis memberships with each unit sold.

During the second quarter, Lennar’s sales incentives averaged $52,000 per house and those houses were about 12 percent smaller on average, the company said in its quarterly earnings report last month.

A National Association of Home Builders survey released last month found homes started in 2009’s first quarter averaged 2,335 square feet, nearly 300 square feet less than a year earlier.

“That’s the first time that’s happened since 1973,” said Stephen Melman, the association’s director of economic services.

The trend likely will continue for the foreseeable future, as six in 10 builders the trade group surveyed in May said they planned to build smaller houses in the coming year. Only 1 percent said they’re going bigger.

But few expect the downsizing trend to continue after the housing market recovers. The builder association projects home sizes will stabilize around 2,500 feet in the next five years, or about the same as in 2007.

Pat Neal of Neal Communities credits smaller homes and low introductory prices with making the first half of 2009 among his company’s best in 40 years. But he also doubts the downsizing trend will last.

For a list of New Construction Homes in the Tampa Bay area please contact me. 813 784 7744 or email: realtyrae@yahoo.com

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Hiring an attorney to represent you in a SHORT SALE?

by Rae Catanese on July 2, 2009

in Foreclosures and Bank Owned, Selling Home as Short Sale, Selling Your Home, Short Sale vs Foreclosure, Short Sales Tampa, Tampa Real Estate Market News & Updates, Tampa Realtors

Selling your home in the Tampa Real Estate Market is no easy task. Clearly, negotiating a successful short sale is even more difficult. It will require countless hours of phone time and inevitable frustration. It is highly recommended that you enlist the services of a professional to perform negotiations on your behalf.

As a Realtor with Prudential Tropical Realty here in Tampa Bay, I’m excited to announce that our real estate agency has decided to hire a law firm to handle the short sale and foreclosure process for our clients. If you are thinking about hiring a listing agent to list your home for sale, and would like representation please call me to discuss your options….813 784 7744

Prudential Tropical Realty turns to Yesner & Boss for legal help

Tampa Bay Business Journal

With short sales and foreclosures making home buying a bit tricky, 15 Tampa Bay offices of Prudential Tropical Realty have signed an agreement with law firm Yesner & Boss to represent clients of the real estate agency.

Financial terms were not disclosed.

The St. Petersburg real estate and bankruptcy law firm will provide corporate counsel for Prudential Tropical offices all over theTampa Bay region including St. Petersburg, Temple Terrace, Brandon and the Pinellas beaches, according to a release. Realtors will refer clients to the firm who need help with foreclosure defense, short-sale negotiations, asset protection and consumer protection.

“The goal of Yesner & Boss and Prudential Tropical is the same, to help property owners sat in their homes and work their way out of mortgage difficulties to which the current market is subjecting a lot of people,” said Christopher Boss, a partner with Yesner & Boss, in a release.

There are nearly 60,000 homes in foreclosure in Florida,according to Yesner & Boss, and the Tampa Bay region is one of the mostly heavily beset by foreclosures and short sales.

“While there are signs of life flickering in the residential real estate market, it is a long way from flourishing,” Boss said. “And improvement will not be significant until foreclosures return to normal numbers and the backlog of foreclosed properties is cleared. There is, unfortunately, still a lot of work to be done out there.”

Prudential Tropical Realty first opened 50 years ago and now has offices in Pinellas, Hillsborough, Pasco and Hernando counties.

Yesner & Boss was founded in 2004, according to the firm’s Web site, and specializes in real estate, foreclosure defense, bankruptcy, evictions, and corporate planning and probate.

Get in touch with a Real Estate Agent at Prudential Tropical Realty for help listing or buying your distressed home anywhere in the Tampa Bay area.

Rae Catanese, Realtor

Phone number: 813 784 7744 Emailto: realtyrae@yahoo.com

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Rae Catanese

July 2009

From Westshore Home Complete

Thinking of selling your home in the Tampa Bay Area? Call a Realtor first!

Rae Catanese, PA 813 784 7744.

Ann and myself will be happy to give you a free home consultation and market analysis.

Prudential Tropical Realty turns to Yesner & Boss for legal help

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