1. Contact a qualified real estate professional and qualified mortgage professional in your area if you are not already working with one.
2. Contact a lender and get a pre-approval letter for a loan that accepts gifts from AmeriDream.
3. Choose a real estate professional and begin your home search
4. Find the home you’d like to purchase
5. Make an offer on the home

Once the contract is ratified, your lender will submit a gift application on your behalf to AmeriDream. The Homebuyer will receive a notice of gift approval from AmeriDream.

Lenders and real estate professionals will explain the home buying process to buyers, as well as the AmeriDream’s Downpayment Gift Program.

Buyers will need to be qualified for a loan that accepts gift funds, such as an FHA or conventional loan. Interested homebuyers should contact a lender or a real estate professional to begin the down payment assistance process.

The post First Time Home Buyer Down Payment Assistance-Tampa,Fl appeared first on The Tampa Real Estate Insider.

Here are the latest stats on Tampa’s most affluent neighborhoods from Zillow. It’s no surprise that most of the higher-valued neighborhoods are in the desirable, quaint community of South Tampa.  

South Tampa is the place to live if you are looking to be close to Downtown Tampa, MacDill AFB, the University of Tampa, and the Tampa Airport.

Although there are many high-end homes in these areas, there are also many condos and townhomes that are very affordable, which makes it a unique mix for people looking to live on a beer budget with caviar taste!

Here’s a link to homes for sale in Harbour Island  and Davis Islands, if you want to check out luxury million dollar homes for sale.

What Can 1 Million Dollars Buy You in Tampa, St. Petersburg, and Clearwater?

Derek Jeter’s house tops the list of Tampa area sports celebrity homes.  The New York Yankee shortstop is building a mega house on Davis Islands that could end up the largest home in Hillsborough County. The land needed to build the manor overlooking Hillsborough Bay cost $7.7 million. The seven-bedroom, nine-bathroom house features a pool and two three-car garages. Two large boat lifts are already in place.

According to Zillow, The highest priced neighborhood is the boating community of Harbour Island in Tampa, Fl.

Tampa’s Richest Neighborhoods Are:

Harbour Island

Golf View

Parkland Estates 

Beach Park
Culbreath Isles
Davis Island
Sunset Park
Tampa-Bayshore Gardens
Bayshore Beautiful
North Hyde Park
Cory Lake Isles
Tampa Palms
Palma Ceia
Swann Estates

What are your favorite neighborhoods in Tampa? If you live in South Tampa we’d love to hear from you…leave a comment below.

Have a question about buying or listing your home for sale?

Contact me: Rae Anna Conforti,  RE/MAX Bay to Bay 813 784 7744

The post Tampa’s Highest Priced Neighborhoods-Luxury Real Estate Report appeared first on The Tampa Real Estate Insider.

The Buyer’s Dilemma – Where Are All The Homes in Tampa?

Tampa’s skimpy housing inventory has been a frequent subject of this blog, as the record-setting low level of houses on the market continues month over month. More buyers than sellers – this creates a predictable equation. It means that, if you’re looking for a home, you face a LOT of competition.

A couple of new wrinkles make me wonder if this situation is going to get worse. Worse for buyers, that is! Both involve an uptick in travel that’s expected even with the pandemic stunting air travel elsewhere.

Takeoffs and landings

More than 15 new nonstop airline routes have been added to Tampa in the past couple of months, as Tampa International Airport elaborated on in a recent announcement: “Airline industry leaders, increasingly, seem to be focusing on cities with lots of outdoor space and good weather that make for great vacation destinations.” 

With new people visiting here from Boston, Cleveland, New York, Richmond, Washington, D.C., and Milwaukee, I can’t help but wonder if some of those people are going to get ideas. Those ideas might include relocating or at least investing in a vacation home! 

Plus St. Peterburg just upped its international reputation as one fantastic hometown by making Conde Nast Traveler’s list of America’s best big cities. Some 715,000 of the magazine’s readers took a vote, and several factors pushed St. Pete into the Top 10 for the first time:

• Beaches, of course
• Dolphin-watching at Fort DeSoto and the Don CeSar
• The Salvador Dali Museum
• The city’s street murals
• The new St. Pete Pier

How Intense is the Competition for Home Buyers? 

Our regional market (Tampa – St. Pete – Clearwater) has about a month’s worth of inventory on the market right now. That means that if every house posted on MLS sold with no new ones coming online, they’d all be gone in 30 days. What’s considered normal? Five to six times that amount of housing stock! 

So what can you do to make your bid more competitive? Especially if you repeatedly lose out to other buyers who might be rolling up to the table with cash? 

My No. 1 Top Tip for Buyers

I believe that cash doesn’t have to be king. That’s because a well-written offer and a preapproval letter may provide the same outcome. 

But first – it’s absolutely essential that you work with a seasoned Realtor with a track record of integrity. You can’t play games with contracts and hard-money deals unless you know what you’re doing. That being said, there are ways to waive financing in your offer while still obtaining a loan, and there are tactics such as removing extraneous contingencies to ensure that your offer will be the winning one.

Looking for your dream home? Give me a shout!  I’ll help you scout, negotiate, and close the deal!

Curious about what your home is worth in Tampa Bay? Fill out my home evaluation form here.

Related:

The Worst Mistake You Can Make When Writing a Buyer’s Letter

Why Use a Buyer’s Real Estate Agent Instead of a Listing Agent? Tampa, Fl

The post The Secret to Ensuring Your Offer Is Accepted | My No. 1 Top Tip for Buyers appeared first on The Tampa Real Estate Insider.

The post Latest News from Florida Realtors appeared first on The Tampa Real Estate Insider.

Top 7 Tips for First Time Homebuyers

Purchasing your first home is a big step that comes with some grave decisions. Many homebuyers are intimidated by the process and continue renting much longer than they should or need to. However, if you break the home buying process down into these simple steps and follow these important tips, you will find the process less intimidating and much more manageable.

1) Before You Begin, Ask Yourself One Question
Will you live in your next home for at least 3 years? If the answer is “Yes,” you should probably purchase rather than continue renting. With average appreciation, you’ll break even on your closing costs after 2 years and start making money in year three. Every year after that will put more money in your pocket! The most expensive aspect of real estate is buying & selling, so the longer you can live in the home, the better. However, purchasing makes sense if you can make as little as a 36-month commitment.

2) You Don’t Need a Large Down Payment!
It always surprises me how many people want to purchase a home but don’t because they believe that a hefty down payment is required. Low downpayment programs are widespread and are quickly becoming the norm, rather than the exception to the rule. Because your new home is collateral for the loan, many banks will jump at the chance to loan you 95% of its value. Perfect credit isn’t a requirement, either.

3) Get Pre-Qualified
Pre-qualification is a crucial step and the step that first time home buyers dread the most. Qualifying to buy a home is pretty straightforward and requires relatively little work for you. Pre-qualification is what gives you buying power and allows you to make an offer on your dream home when you’ve found it. More importantly, pre-qualification will let you know how much your new home will REALLY cost – in monthly payments. A $150,000 or $300,000 home doesn’t mean a lot to most buyers – but $1200 per month and $2500 per month are tangibles that everyone can understand. After your lender pre-qualifies you, ask them for a “payment table” that shows you a rough estimate of the TOTAL monthly payment based on the purchase price. Pick your payment, and you know the price range to shop in.

4) Consult a Real Estate Professional ASAP
Many first time home buyers avoid contacting a Buyer’s Real Estate Agent because they dislike high-pressure sales. However, Real Estate Agents have an advantage over traditional salespeople because they have access to the Multiple Listing Service, which is a database that lists roughly 99% of the homes for sale in a given market. This means that your Real Estate Agent doesn’t have to sell – he/she merely presents your options. The most important qualities to look for in your Real Estate Agent are his/her knowledge of your specific market and their willingness to help. Interview a few agents and choose one that will help guide you through the process, and best of all, it doesn’t cost you the buyer a dime! You’ll find the help & insight will be invaluable – and you’ll be glad you contacted your Real Estate Agent sooner rather than later.

5) Make a list of “Must Haves” & “Wants.”
Many new home buyers mistakenly think that they will “just know” when they “walk into the one.” While some buyers DO fall instantly in love with a home, this is not the norm. You’ll find your search is easier, and you will be more confident in your decision if you take a systematic approach to your search. The best way to organize your search is to make two lists: Your “must-haves” and your “wants.” Your “must-haves” are the absolute necessities in your new home – in fact, you don’t even need to view a home if it doesn’t have every “must-have.” Great examples of your “must-haves” are price, school district, size, etc… Your “wants” are the qualities that you would like for your new home to have, but it’s not a necessity. Great examples of “wants” are color, flooring, kitchen appliances, surround sound, and type of exterior. By taking the time to articulate what you need and want in your new home, you will know exactly what to look for when viewing prospective homes.

6) Pick Your Favorite Neighborhoods
You can always make changes to your house, but you can never change its location. Most homebuyers already have a good idea of where they would like to live because of school districts, work, or other factors. However, neighborhoods can be pretty different, even in the same area of the city. Ask your Real Estate Agent to email you a list of homes in the specific area of town you’re interested in. Take a drive through the different neighborhoods on the list your Real Estate Agent sends you, and choose your favorites. Pay attention to area amenities, how well the yards & common areas are kept, and if you see a lot of “for lease” signs – which can be an indication of a heavy rental area and lacking in “pride of ownership.” After picking your favorite neighborhoods and knowing your “must-haves” and “wants,” you can literally make a list of EVERY home available that meets your criteria and views those homes.

7) Make Your Decision!!!
Homebuyers often hesitate after they’ve found the right home because they’re not confident about their decision or their decision-making process. Your home is probably the largest investment of your life, and it’s normal to feel butterflies in your stomach before putting your first home under contract. However, if you do your due diligence – and you have if you followed the steps above – then you will have your bases covered. If you’ve found a home that meets all of your “must-haves,” most of your “wants” are in the right neighborhood and in your budget – it’s the home for you! Don’t wait and let another buyer take YOUR home!

One way to have a bit more confidence in your purchase is to ask the seller to purchase a home warranty to protect you against repair and replacement costs of everyday wear and tear issues on appliances and systems.

Buying your first home can seem very intimidating but can be extremely exciting. If you think that buying a home is right for you, it probably is. Make sure and follow these important tips, and you’ll know you made the right decision when you find your first home.

If you would like to speak to me about buying your first home anywhere in the Tampa Bay area, please send me a note here.

The post Tips for First Time Home Buyers, Tampa Real Estate appeared first on The Tampa Real Estate Insider.

The latest wild-and-crazy real estate market is taking bidding wars to a new level. In one city, real estate agents report getting 45 offers on one house. In another city, a Realtor reported getting more than 90! So out-of-control is demand that buyers are waiving inspections, removing contingency clauses from offers, and making offers sight unseen.

Multiple offers are coming in on the first day of listing. At showings, potential buyers are bumping into each other right and left. One house had over 200 showings in the first 24 hours, with 100 written offers following.

Here’s another case in point: A Realtor made an offer on a $230k house that was $50k above the asking price and that was considerably over appraisal as well. The asked-for inspection period was just 24 hours, and no repairs were requested. Even with all that, the offer wasn’t competitive enough, and the buyers lost out to someone else.

Our Hot Local Tampa Real Estate Market

Here’s what’s up in the Tampa-Clearwater-St. Pete housing market. 

In Hillsborough County, the median sale price has been pushed to $305k, up a whopping 18% over last year. The same percentage rise applies in Pinellas County, but with a median price of $330k, as real estate is slightly more expensive there.

But here is the truly jaw-dropping number: In both counties, the months-available housing inventory is down about 71%. If all of the houses available for sale closed right now, there would literally be no homes for sale next month. The housing inventory – which has been shrinking steadily for years – is now sitting at less than one month’s worth.

If you’re still skeptical, or you think those two data points don’t tell the whole story, consider this: The average home in Hillsborough County sits on the market for just 26 days. That’s 48% less than last year’s period! The days-on-market in Pinellas County is 31, a decrease of 36%.

What’s Happening? Here’s a Snapshot

In this part of Florida, we’re not QUITE to the level of the national frenzy, where all-cash offers are sometimes the only ones that succeed. In some markets, buyers are offering to pay sellers’ closing costs. In addition, buyers are sometimes throwing in nonrefundable earnest money, even $10,000, as some buyers are desperate to finally close a deal.

So … what’s happening here? As I wrote in an earlier blog post, shrinking inventory has been a factor in the U.S. housing market for more than a decade. The great recession drove many subcontractors out of business for good, and many have never re-emerged. With new homes not being built on any kind of grand scale, existing homes are what’s left to meet demand. With the pandemic in the rearview mirror (or at least we all hope so), the surge we’re witnessing now is an almost perfect storm.

I’ve also previously noted how the pandemic changed people’s work-life expectations. Working from home means buyers are looking for bigger spaces, and commute times are less relevant than ever. COVID prompted many buyers to seek housing far away from inner-city cores, keeping demand for housing high even as other economic sectors slowed.

It goes ALMOST without saying: You need an experienced Realtor to guide you through the buying and/or selling process. With my decades in the business, I’ve pretty much seen it all – though I’ve never seen anything quite like this! I can, however, completely commit to helping you through the intricacies of a real estate closing in 2021, where avoidance of pitfalls is more crucial than ever. 

Rae Anna Conforti, PA

Realtor

RE/MAX ALLIANCE GROUP

You can reach Rae Anna Conforti here.

The post Sellers and Buyers, Take Note – EVERYONE’s In for a Wild Ride appeared first on The Tampa Real Estate Insider.

Who is the BEST Moving Company in Tampa?  Why I was determined to find the best movers in Tampa.

I’ve come to realize I’m a person who does not like change, and moving, no matter how you look at it, is change. It’s my turn to move, and you’d think I’d never read any of the moving articles that I’ve posted on my blog over the past seven years.

You’re going from a place you know and like and that you’re comfortable with to an unknown; it is a little scary, even if you love where you’re going. Even though I sell houses and help my clients with the closing process, it is a stressful ordeal. Add moving into the mix and it might send me over the edge.

Moving forces people to have conversations about things they normally wouldn’t discuss. Just mention that you’re moving and people want to know why and where. Curiosity is human nature. Moving is kind of a big deal.

What if you had to do a short sale on your house and people kept asking you why you were moving? Would you want to have that conversation repeatedly about how you can’t afford your mortgage payment? Probably not. But there are plenty people in that situation.

Don’t forget the stress of getting the three moving-truck-quotes websites suggest you get, and finding out which company is going to give the best deal.

TIP: When buying a new home, you may want to consider closing on your new home and allowing two weeks to move from your old house.

I decided to splurge this year and actually hire a full-service moving company and have the Tampa movers pack me. They arrive, pack and move all in one day and it’s done. The day before the move, I hadn’t packed a thing other than my jewelry and important documents. Movers apparently do not insure those items.

I was hoping the moving company would do a wonderful job and I would be able to refer my clients and friends to them. Having great movers would take a lot of stress out of the whole situation.

It’s been a week since the move, and there are only three, small boxes sitting in my living room. It was very good experience; the movers worked well together and truly enjoyed their job. Even better, they came in under budget. I hadn’t really known what to expect, but I will say that this was a stress-free move — if there is such a thing.

The pictures are hung, and I’m starting to feel relief. It’s great to say “wow that was easy”.

The post My search to find the BEST moving company in Tampa appeared first on The Tampa Real Estate Insider.

Ripple Effects from the Pandemic: What Will and Won’t Change in Tampa Real Estate

Are Tiny Houses in Peril? Maybe, But Interest Rates Will Stay Rock Bottom

First off, here’s an update from my universe: I’m hearing from clients and old friends, only to find out that people are making plans to move forward with their lives. I feel that everybody who is buying right now has a reason. People are deciding what they want as we enter the peak of the pandemic and move past it, and they’re already starting to think about how they’re going to make changes. Many of those changes involve moving!

There is more activity in the Tampa real-estate market than you might suspect. Money magazine reports: 

“Many real estate agents are optimistic that the market will soon snap back. Pending home sales went up 6.2% in the week ending April 19, Zillow reports. And, after falling for five weeks, mortgage applications rose 12% for the week ending April 24, compared with the previous week, according to the Mortgage Bankers Association.”

What WON’T Change – Interest Rates

Elliot Eisenberg, Ph.D., consulting economist for Greater Tampa REALTORS, says interest rates will say low, low, low because the last thing that the Federal Reserve will want to do is interfere with the nation’s economic recovery.

Not to say that everything is roses during COVID-19. When new stats are compiled, April home sales will, of course, show a decline because of the pandemic, Eisenberg says. 

But the fact that inventory – the stock of available houses – is at record lows means that the housing market is not headed for that disastrous burst-bubble thing it did more than a decade ago. It is still a seller’s market here in Tampa Bay. He predicts a brief economic downtown from which Florida may recover soonest because of more people relocating to the Sunshine State.

The Tiny House Movement – Speeding Ahead or Stalled?

While some cities (think: San Diego with its new proposal to expand zoning laws) are turning to tiny houses to help create more affordable housing, other experts predict that the pandemic may put an end to the movement. In an article in The Atlantic, “The Pandemic has Made a Mockery of Minimalism,” the author points out that drastically paring down one’s space and belongings doesn’t make much sense for people confined to their homes for weeks or months.

Two factors present during the pandemic might work against tiny homes. 

• One is that more people are working from home, and this shift in the workforce could take root and become more permanent. That means people will be looking for more square footage in their homes so they can carve out a dedicated workspace.
• A second reason is that tiny homes work best for people who spend a lot of time outside of them. They’re either at their employer’s workplace or hanging out in the sorts of large, public congregating areas that are the first to shut down in times of crisis. Tiny houses in big cities also can pack people densely in close quarters, which may not be the most desirable state of affairs in the future.

I suspect that social distancing practices will spill over into the way we approach our home lives, and I can see a new standard emerging. The three-bedroom, two-bath minimum requirement so many buyers adopted over the years may be replaced with a desire for larger homes with a minimum of four bedrooms. I wouldn’t be surprised to see an increase in sales of five-bedroom homes as well – plus larger lot sizes. Lots close to other neighbors might not be as attractive anymore. And nuclear families may have to merge as the generations once again consider living together. But we’ll see!

What’s Your Story?

If you’re thinking of making changes post-COVID-19 that involve real estate, I can help you navigate the way. There’s no reason to put your life on hold forever. As that Money magazine article also states: “Despite the difficulty of listing and closing house sales, many real estate market fundamentals are strong, real estate experts say.” If you’re planning to upsize or downsize, move out to the country, relocate to be closer to family – whatever your circumstance,

Check out our inventory of

The post Is Tampa a Buyer’s or Seller’s Market-Ripple Effects from COVID appeared first on The Tampa Real Estate Insider.

As a Tampa Realtor, one of the most common questions I’m asked by buyers is “who pays the commission?”

A Buyer’s Agent is compensated by splitting the Listing Agent’s commission, so it cost you nothing.

So what does a Buyer’s Agent actually do, and why do I need one?

A well accomplished Realtor will be able to help you purchase a home in many ways you may not have thought about. First, a Buyer’s Agent is working for you and has your best interest in mind. Think of the relationship as having your own personal representation from someone who is going to guide you in the right direction and negotiate the best possible price on your behalf.  While you, as a buyer are looking at all bells and whistles, like granite counter tops and stainless steel appliances, your agent may notice little things that most buyers wouldn’t think of looking for. They will point things out about the home such as: Stains on the ceiling from possible water intrusion, stucco repairs to the outside, or termite damage.  In addition to pointing out defects of a home, a good Buyer’s Agent will be able to explain in detail the terms of the contract and leave you with a “way out” should you decide not to proceed due to a home inspection that revealed issues, or if a home doesn’t appraise for the purchase price.

The Goal of a Listing Agent:

To get the best possible price for the owner in the shortest period of time. A listing agent works for the seller and may not be able to disclose certain pertinent information to you, such as what the seller’s bottom line is, or what their motivation is for selling. A listing agent can also use the information you give them to relay your thoughts and feelings back to the seller. Let’s say you are really excited about a home and disclose this to the listing agent who showed you the home. You then decide to make an offer with the listing agent who knows you love the home. The listing agent will most likely tell the seller that they believe you will come up in price based on your emotional attachment to the house.

Good Questions to Ask a Realtor who is a Buyer’s Agent:

• How much was the home listed for originally and how many price reductions were done?
• How many days the home has been on the market?
• Can you give me any history of the home in (MLS), Multiple Listing Service i.e…. if it was listed prior with another Realtor and how much they were asking at that time?
• Information about property taxes and how much they will go up next year?
• What is Homestead Tax Exemptions and how does it work?
• What is the neighborhood’s popularity and where are the good schools?
• What homes sold for in a particular neighborhood, called a Comparable Market Analysis.
• How do short sales work?
• Can I put more than one offer in at the same time?
• Are there any outstanding permits that have not been closed out?

If Real Estate Buyer’s Agents are free to use, why wouldn’t you want to use one?

Don’t pick the first agent you speak with, instead interview at least two agents to determine who is the right fit for you.  You should also ask for recommendations from their past clients, and do a Google search for their name. You’d be surprised at what you can find out.

If you are thinking of purchasing a home and would me to represent you as your real estate agent in the Tampa Bay area, you can contact us here. 

The post Why Use a Buyer’s Real Estate Agent Instead of a Listing Agent? Tampa, Fl appeared first on The Tampa Real Estate Insider.

Waterfront Condos and townhomes in St. Pete starting in the 200’s ….

Wide-open unobstructed WATER VIEWS from this second-story, completely updated condo at Waterside at Coquina Key. Enjoy cool breezes and watch the wildlife every day on your tropical balcony. Yes, you’ll even see the dolphins swimming by! The unit faces East, so you’ll get a lovely sunrise in the morning without the intense sun in the afternoon. Hardwood flooring throughout the unit with ceramic tile in the kitchen and bath. The kitchen is oversized with a breakfast bar, tons of storage, and counter space. Recent renovations include new drywall, an island counter in the kitchen, new cabinets, laundry added with full-size washer and dryer, new stainless steel appliances, granite countertops, new plumbing, new modern bath with a glass-enclosed shower, AC 2015, and a new electrical panel. Waterside at Coquina Key boasts 88 acres of lush grounds and is a Resort Community with on-site Key West Style Club House that hosts weekly events for the residents. Prime location just 10 minutes to Downtown St. Pete, shopping, upscale restaurants, music venues, and art studios. The famous Vinoy Golf Course, waterfront restaurants to dock your boat for lunch, and the new St. Pete Pier are also nearby. St. Pete Beach is ONLY 15 minutes away, and Tampa Int’l airport 35 minutes. You won’t find a more breathtaking waterfront view for this price! If you are looking for an excellent getaway for a month or seasonal, use it when you want and rent it out through the on-site property manager or airbnb it! Beautiful lush grounds, on-site café/bar with happy hour specials, two pools, one heated year-round, and facing the bay with open views and a spa! There’s also a fitness center, kayak storage, volleyball, tennis, 24-hour guard, fishing pier, and more. Ask your agent about boat slips listed for sale in MLS that can be purchased separately! Call today to see this fantastic condo before it’s gone!

Waterside Yacht club with private Resident-only restaurant and bar
Boat docks, boat slips, lifts and dry storage available
Lighted tennis and sand volleyball courts
3 resort swimming pools and spas in the Gulf Coast tradition
3 miles of sea wall for strolling and watching glorious sunsets
88 acres of lush, colorfully landscaped grounds
2 state-of-the-art fitness centers with saunas and cardio theater
24-hour staffed gatehouse for your peace of mind

If you are looking for a great deal on a waterfront property, you’ve found it! Perfect for vacation or second homeowners because SHORT TERM Rentals are allowed.  Boat Slips are also for sale!

Call me for a showing and additional information 813-784-7744

St Petersburg Fl Homes For Sale

Contact me here: Rae Anna Conforti, Realtor

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