Tampa Bay Real Estate

This blog is written by local Tampa Bay, Florida Realtors about real estate, homes for sale, foreclosures, short sales, and local events here in the Greater Tampa Bay Area.  We make it a priority to keep you informed on the latest real estate trends, deals, communities, and important events that may affect you if you currently live in Tampa Bay or plan to purchase a home here in the near future.

If we run across a good restaurant, see a good show, hear of any concerts, art shows, family activities, we will let you know.  We will also update you on any helpful website pages we add to the site.  We are always looking for new ways to connect to our clients and feel like our blog is a great tool to keep you informed!

We hope you enjoy it and please let us know if we can assist you with any properties you see on the website!

Thank you for reading this and happy house hunting,

Morneau Property Group
813-943-3262
MorneauPropertyGroup@gmail.com

Dec. 28, 2016

The Fed Raised Rates: What Does that Mean for Housing?

You may have heard that the Federal Reserve raised rates recently… But what does that mean if you are looking to buy a home in the near future?


Many in the housing industry have predicted that the Federal Open Market Committee (FOMC), the policy-making arm of the Federal Reserve, would vote to raise the federal fund's target rate at their December meeting. For only the second time in a decade, this is exactly what happened.


There were many factors that contributed to the 0.25 point increase (from 0.50 to 0.75), but many are pointing to the latest jobs report and low unemployment rate (4.6%) as the main reason. Tim Manni, Mortgage Expert at Nerd Wallet, had this to say, “Homebuyers shouldn’t be particularly concerned with [recent] Fed move. Even with rates hovering over 4 percent, they’re still historically low. Most market observers are expecting a gradual rise in home loan rates in the near term, anticipating mortgage rates to stay under 5 percent through 2017.”


Bottom Line:  Only time will tell what the long-term impact of the rate hike will be, but in the short term, there should be no reason for alarm.

Nov. 5, 2016

Fall Back 2016

Fall Back 2016

Posted in Housing Market
Sept. 28, 2016

Sprouts Farmers Market Coming to Carrollwood

Sprouts Farmers Market

Sprouts Farmers Market is coming to Carrollwood

 

Sprouts Farmers Market has released a list of new store locations and Carrollwood in North Tampa is one of the new locations! The store is expected to open in the first quarter of 2017.  The new Sprouts Farmers Market will open in Carrollwood at 15110 N. Dale Mabry Highway in the Carrollwood Commons shopping center next to a Target, GNC and Party City stores.

Sprouts Farmers Market is a speciality grocery known for its reasonably priced natural and organic foods in a setting that feels like an old-fashioned farmer's market. Its stores are about half the size of a typical Publix.  To find out more about Sprouts Farmers Market visit their website: www.sprouts.com.

Posted in Carrollwood
Sept. 28, 2016

US Housing Market Moving Further into ‘Buy Territory’

According to the latest Beracha, Hardin & Johnson Buy vs. Rent (BH&J) Index, the U.S. housing market has continued to move deeper into buy territory, supporting the belief that housing markets across the country remain a sound investment.

The BH&J Index is a quarterly report that attempts to answer the question:

In today’s housing market, is it better to rent or buy a home?

The index examines the entire US housing market and then isolates 23 major cities for comparison. The researchers “measure the relationship between purchasing property and building wealth through a buildup in equity versus renting a comparable property and investing in a portfolio of stocks and bonds.” 

Ken Johnson, Ph.D., Real Estate Economist & Professor at Florida Atlantic University, and one of the index’s authors explains that:

“Housing prices, in general, continue to slow and when considered in light of the recent trends in the Buy vs. Rent Index signal that ownership remains an excellent investment for the majority of Americans.”

While 15 of the 23 metropolitan markets examined moved further into buy territory since last quarter, Dallas, Denver, and Houston are three of the major cities that are currently deep into rent territory. In these three markets, it is estimated that renting will top homeownership 7 out of 10 times.

Eli Beracha, Ph.D., Assistant Professor in the T&S Hollo School of Real Estate at FIU, believes that, in these three markets, the strong odds in favor of renting to create more wealth should begin to have an impact on the demand for home ownership and from that, impact property prices in these areas.”

Simply put, home prices in these areas will begin to return to more normal levels once residents realize that renting may be a better choice, therefore bringing home affordability back as well.

Bottom Line

The majority of the country is strongly in buy territory. Buying a home makes sense socially and financially. Rents are predicted to increase substantially in the next year. Protect yourself from rising rents by locking in your housing cost with a mortgage payment now.

To Find Out More About the Study: The BH&J Index and other FAU real estate activities are sponsored by Investments Limited of Boca Raton. The BH&J Index is published quarterly and is available online at http://business.fau.edu/buyvsrent.

Posted in Buyers
Sept. 26, 2016

Foreclosure Rate Drops to Pre-Crisis Levels

Foreclosure Rate Drops to Pre-Crisis Levels

Great news about the national real estate market, the foreclosure rate has returned to August 2007 levels, at only .09%. The foreclosure rate continues to decline. Only 2.9% of homes are in serious delinquency, down 17.1% from July 2015.  This is the 57th consecutive month with a year-over-year decline.  This is another great indicator that the real estate market is thriving and strong making toady a great time to buy or sell a home!

Foreclosure Rate Drops

 

 

Posted in Foreclosure