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PROFARM Neighborhood Advocates
Q4 2016 Stats (March 2017)
Florida Realtors® recently released the 2016 fourth quarter (October through December) real estate market statistics for the state. I wanted to give you an overview of how our area is performing.
The single family homes real estate markets in Pinellas, Hillsborough and Pasco Counties finished out strong in 2016. Median Sale Price continued to rise through the end of the year in all three counties. Closed Sales in Hillsborough County were up and held about even in Pinellas and Pasco. Pinellas rebounded from being down in Quarter 3 of 2016 year-over-year in Closed Sales.
Inventory has shrunk year-over-year for the fourth quarter in Pinellas and Pasco, but Hillsborough is finally showing signs of an increase in Active Listings (Inventory). Median Days to Contract was down in the Pinellas, Hillsborough and Pasco markets, though the year-over-year margin started to soften in the fourth quarter of 2016.
As your local Realtor® and Neighborhood Advocate, I am your resource for data that affects our communities and your property value. Homeownership affordability and accessibility is a cornerstone of the Realtor® advocacy efforts at every level – local, state and national.
Here are some highlights from the Florida Realtors® Quarter 4 2016 Statistics Release for the Single Family Home Market Segment:
- Closed Sales: Slightly up for Pinellas County; up for Hillsborough County and down only slightly for Pasco County for Quarter 4 2016 from Quarter 4 2015. This statistic is a good indicator of the overall health of the market, and successful closed sales mean a win-win for both buyers and sellers.
- Pinellas County: 3,351 Closed Sales Q4 2016 vs. 3,271 Closed Sales Q4 2015, a 2.4% increase
- Hillsborough County: 4,641 Closed Sales Q4 2016 vs. 4,225 Closed Sales Q4 2015, a 9.8% increase
- Pasco County: 2,335 Closed Sales Q4 2016 vs. 2,340 Closed Sales Q4 2015, a 0.2% decrease
- Median Sale Price: Up for Pinellas County, Hillsborough County and Pasco County for Quarter 4 2016 from Quarter 4 2015. The median is the midpoint; half the homes sold for more, half the homes sold for less.
- Pinellas County: $218,000 Median Sale Price Q4 2016 vs. $185,000 Median Sale Price Q4 2015, a 17.6% increase
- Hillsborough County: $225,000 Median Sale Price Q4 2016 vs. $205,000 Median Sale Price Q4 2015, a 9.8% increase
- Pasco County: $185,000 Median Sale Price Q4 2016 vs. $160,000 Median Sale Price Q4 2015, a 15.6% increase
- Inventory (Active Listings): Down for Pinellas County and Pasco County and up just slightly for Hillsborough County for Quarter 4 2016 from Quarter 4 2015. When inventory is low, there are fewer houses on the market and buyers are often competing for homes or have a tougher time finding a home that suits their exact needs. Flexibility, planning and preparation are key to being able to make an offer on a home when you do find what you’re looking for.
- Pinellas County: 3,288 Active Listings Q4 2016 vs. 3,317 Active Listings Q4 2015, down 0.9%
- Hillsborough County: 4,382 Active Listings Q4 2016 vs. 4,364 Active Listings Q4 2015, up 0.4%
- Pasco County: 2,217 Active Listings Q4 2016 vs. 2,491 Active Listings Q4 2015, down 11.0%
- Median Days to Contract: Down for Pinellas County, Hillsborough County and Pasco County for Quarter 4 2016 from Quarter 4 2015. The midpoint of the number of days it took for a property to receive a sales contract during that time. The faster a home goes to contract, the less time it is on the market for sale. Another good indicator for sellers and a tool for buyers to understand how to reach their goals in a hot market.
- Pinellas County: 29 Days Q4 2016 vs. 31 Days Q4 2015, a 6.5% decrease
- Hillsborough County: 32 Days Q4 2016 vs. 39 Days Q4 2015, a 17.9% decrease
- Pasco County: 30 Days Q4 2016 vs. 41 Days Q4 2015, a 26.8% decrease
Please don’t hesitate to email me at AnnalisaWeller1@gmail.com or call me at 727-804-6566, if I can be of service. Thank you so much.
© 2017 Pinellas Realtor Organization
There is always a special kind of excitement in the weeks leading up to the race. Our city’s streets are turned into a 1.8 mile racetrack along the waterfront. The track has 14 turns and goes past the Dali Museum, Mahaffey Theatre, around Pioneer Park, along the waterfront past the St Petersburg Harbor & Marina and onto the runways of Albert Whitted Airport. The races include Verizon IndyCar Series, Pirelli World Challenge, Speed Energy Stadium Super Trucks, Indy Lights & Pro Mazda. It has been fun to walk down the middle of the downtown city streets with partial track walls closing in on both streets. I have lived here for 11 years now & I still find all of this so cool.
People come from all over the world to see this race. Some watch from the track stands, others watch from their boats, and some watch from their condos balconies. Of course, it will also be shown on national TV. I will go into the grounds on Friday where one can see the cars up close & sometimes even meet the drivers before or after their practice & qualifying runs. On Sunday, I will be on the top floor of my parents’ condo building watching with great glee as the race speeds past the building on 2 sides with 2 hairpin turns. Yes, it IS noisy but oh, so awesome!
You can purchase tickets & get more info at http://gpstpete.com/ in advance or at the gate.
PROFarm Neighborhood Advocates
Penny for Pinellas (January 2017)
Infrastructure is critical to our economic growth, and obviously economic growth impacts the value of your home. Taxes, namely property taxes, also impact real estate. For the last thirty years Pinellas County has levied a 1 cent sales tax to pay for roads, police and fire stations, bridges, etc. In November 2017 voters will decide if the penny tax will continue.
In 1989, 1997, and 2007 Pinellas County citizens voted to increase their sales tax by 1 cent to fund needed infrastructure projects. The goal was to make long-term investments in our future without putting the burden completely on property owners. There were needs across the county and elected leaders were facing the prospect of raising property taxes to fill the funding void. Instead, they put it to the voters for a 1 cent tax, and this Fall they will have the option to re-authorize that tax again.
Penny for Pinellas FAQs:
- Is the tax permanent? No. As the voters have done three times prior, this vote would authorize the Penny for ten more years, specifically the fiscal years of 2020-2030. If passed in the Fall, voters would have the opportunity to re-authorize again in 2027.
- Who gets the money? The county collects the funds and keeps some for its own infrastructure projects. The majority of the money is spread out to the 24 cities in Pinellas County for various needs. They do have to submit their list of projects prior to the vote, and that list is public. Voters will be able to decide if the projects are worthy of the increased tax.
- What happens if the re-authorization fails? A wide range of projects deemed necessary by many while either not be funded, or elected officials could decide to increase property taxes.
- Where could I find more information about the Penny? The county has set up a website with lots of useful information including list of projects, and the history of Penny for Pinellas. It is www.pinellascounty.org/penny/
This issue has the potential to affect you and our local economy, so I thought that you might be interested. If you have questions regarding this or any real estate needs, please feel free to email me at AnnalisaWeller1@gmail.com or call me at 727-804-6566.
The name of this small town, located on the west coastal of central Florida comes from Dùn Èideann, which is the Scottish Gaelic name for Edinburgh-the capital of Scotland.
Dunedin is one of the few towns or cities that still has open waterfront views to the Intracoastal Waterway and the Gulf of Mexico. Its beaches, including Dunedin Causeway, Honeymoon Island, and Caladesi Island State Park, are consistently rated among the best beaches in the world. Dunedin is located between Clearwater, the Gulf of Mexico and by Palm Harbor. And yet it is close to Tampa, St Petersburg and Tampa International Airport. A very nice location. Small town feel with worldly connections.
In the 1800’s Scottish families originally settled in the area. In 1852 two Scotsmen by the names of J.O. Douglas and James Sumerville, called the area Dunedin after their hometown in Scotland-Edinburgh. Once upon a time Dunedin was one of Florida’s main ports with the largest fleet of sailing ships in the state.
Once a year, usually in April, the Dunedin Highland Games are held with competitions including caber tossing, sheep herding, stone throwing & pipe and drum bands. There is also the DUNEDIN CELTIC MUSIC & CRAFT BEER FESTIVAL, usually held in November.
Dunedin has been the training site for every Blue Jays Spring Training season for the last 40 YEARS. This makes Toronto the only major league franchise to have remained in the same location for all of its spring training.
If you want to know about Dunedin, Florida, you might want to watch this short video produced by St Pete-Clearwater. It is a great overview of city of Dunedin, the Pinellas Trail, Honeymoon Island and Caladesi Island State Park.
A weekend with some of the best blues music. Aaron Neville, Kenny Wayne Shepherd and JJ Grey (along with many others) will perform live at the waterfront Vinoy Park at one of the finest musical festivals in Florida. Listen to great blues while enjoying views of downtown St Petersburg and the Tampa Bay. The Tampa Bay Blues Fest began in 1995 and in 2011, it was given the prestigious “Keeping the Blues Alive” award as the best blues festival in America by the Blues Foundation in Memphis, Tennessee. Proceeds from the event benefit their charity partner, Pinellas Association for Retarded Children.
Music until 10 p.m. each evening! General Admission Tickets –
Friday – $35 gates open at noon
Saturday – $40
Sunday – $30
Three Day Pass – $95
Weather this weekend-Sunny, mid 70’s, low humidity & a slight breeze. Come spend the day or the whole weekend!
Click HERE for a full schedule of events and to purchase tickets. Vinoy Park, 701 Bayshore Drive Northeast, St Pete, FL
Check this out-St Petersburg made it in the top 10 & Tampa is NUMBER ONE for coastal cities!! -Annalisa
Florida is the best place in America for tying the knot, according to personal finance website WalletHub, which just released (in time for Valentine’s Day!) its 2016 ranking of Best and Worst Cities to Get Married.
By Tracey Minkin in Coastal Living
The Sunshine State is home to 3 of the top 10 cities in WalletHub’s brand-new ranking: Orlando (which topped the list at #1), followed by Florida’s coastal cities of Tampa, which came in at #4, and Miami, which came in at #8.
To arrive at its nuptials numbers, WalletHub researchers compared the 150 largest cities in America in search of the cheapest and most convenient wedding destinations that also promised what WalletHub called “a memorable occasion.” Researchers used 18 key indicators to judge each city, including number of venues, flower, and bridal shops per capita, hotel availability, and average cost of a wedding in that city.
While many of the cities were inland, we collected the coastal winners for getting the best bang for your bridal buck . . . at the beach. Because really: who would want it any other way?
Here’s how the top coastal cities fared:
#1 Coastal/#4 Overall: TAMPA, FLORIDA
Bridal 411: One of Tampa’s greatest strengths overall was its diversity of attractions and activities, according to WalletHub.
#2 Coastal/#8 Overall: MIAMI, FLORIDA
Bridal 411: Miami, the city where every event is a party, scored in the top 5 overall as having the most bridal shops per capita and scored #1 for the most flower shops per capita. (See why Miami made our 2016 list of top luxury beach destinations, here.)
#3 Coastal/#18 Overall: NEW ORLEANS, LOUISIANA
Bridal 411: Like Tampa, this romantic Delta city (hey, that’s coastal in our books) scored big in activities and attractions. (Check out how a trip to New Orleans can change your life, here.)
#4 Coastal/#18 Overall: FORT LAUDERDALE, FLORIDA
Bridal 411: This true beach town scored highest on its overall wedding facilities and services ranking–20th among 150 cities. (Find out what more there is to love about Fort Lauderdale, here.)
#5 Coastal/#27 Overall: MOBILE, ALABAMA
Bridal 411: Talk about bang for your buck… this lively port city on the Gulf of Mexico was #5 out of 150 in most affordable wedding cost ranking. (You’ll never believe what this creative city drops from one of its highest buildings on New Year’s Eve!)
The other top coastal cities in WalletHub’s ranking were:
#6 Coastal/#32 Overall: Portland, Oregon
***#7 Coastal/#39 Overall: St. Petersburg, Florida ***
#8 Coastal/#46 Overall: San Diego, California
#9 Coastal/#53 Overall: Los Angeles, California
#10 Coastal/#73 Overall: Corpus Christi, Texas
By Tracey Minkin in Coastal Living
TAMPA, Fla. – Jan. 19, 2016 – The Tampa metro area continues to be a desirable destination for international homebuyers.
Realtors cite a variety of reasons for the area’s popularity – the growth of direct international flights to Tampa International Airport, higher prices in South Florida sending people further north and stepped up marketing campaigns overseas by real estate companies.
Last year, international real estate purchases increased between 14 to 20 percent in Hillsborough County, according to Carlos Fuentes of Namaste Realty.
Despite an overall drop in real estate sales to international buyers in Florida last year, the state has long been a desirable market for foreign investors looking to purchase homes. With its desirable climate, the state accounts for 25 percent of all international real estate purchases in the United States. Half of those purchases have historically been in the Miami-Fort Lauderdale region.
But Realtors say that could be changing in the Tampa metro area’s favor with the new direct international flights, better pricing on both lots and existing homes here, a secure environment in which to invest, proximity to beaches, professional sports, a new outlet mall and plans for a more vibrant downtown Tampa with more residential units.
“We have construction up in all sectors of real estate,” said Fuentes, past president of the regional Multiple Listing Service. “And the quality of life here versus South Florida is huge.”
Smith & Associates, this area’s leading luxury real estate broker, has been focusing on a marketing strategy for about four years to draw in more international buyers.
“We’ve been developing strategies, thinking about those direct flights and how to put our properties in front of these folks and build a presence,” said Bob Glaser, president and CEO of Smith & Associates, which did $1 billion in sales last year. People are a lot more likely to purchase in an area they can fly to directly, he said, and the recent addition of direct flights such as those from Frankfort, Germany could be game changers.
International buyers account for 12 percent of all sales in the state, according to the Profile of International Buyers in Florida 2015, published by Florida Realtors.
The Tampa-St. Petersburg-Clearwater metro area was listed among the major destinations in Florida for international buyers, according to the Florida Realtors report. International sales in the Tampa metro area rose 6 percent during a 12-month period ending June 2015, the report shows. That figure was less than the 11 percent in 2014, which followed a similar drop in other metro areas across the state last year.
In 2014, the Tampa metro area was tied with Orlando for the highest percentage of foreign buyers in the state.
Top international buyers in the Tampa metro area in 2015 came from: Canada (31 percent), United Kingdom (19 percent) and Sweden (12 percent), according to the Realtors report.
Last year, international sales in Florida totaled 44,000 properties, or 12 percent of the state’s residential market, compared to 15 percent in 2014. Nationally, international sales accounted for just 4 percent of sales, according to the report that conducted a Realtor survey between July and August.
And when foreigners buy here, they buy more expensive real estate than Floridians. Many pay cash. The volume of international sales totaled $23.7 billion, or 24 percent of Florida’s residential dollar volume of sales (19 percent a year ago), compared to 8 percent nationally.
It’s a market worth growing, Glaser said.
The Realtors report listed the Miami metro area with 36 percent of international buyers in 2015; Fort Lauderdale got 14 percent last year and the Orlando-Deltona-Daytona Beach MSA getting 8 percent. The Northport-Sarasota-Bradenton MSA accounted for 7 percent of sales to foreign buyers in 2015.
The number of Realtors handling international sales went up from 52 percent in 2014 to 69 percent in 2015, Florida Realtors reports. Of those who worked with international clients 78 percent of them reported closing at least one sale with those clients. That is up slightly from the previous year.
Smith & Associates now works with Luxury Portfolio International to market its properties worldwide and has a working agreement with Mayfair International Realty, which acts as its London office, and links with the Financial Times to market properties in Hillsborough and Pinellas counties.
Jacqueline Hutchinson, a Realtor with Smith & Associates, sold three homes to French investors last year. They found out about homes here through a website called French District, then contacted Hutchinson, a native of France.
“Florida is very popular with the French,” Hutchinson said. “Before, they always went to Miami, but because of the direct flights, they come here and they like it.” They like the Gulf of Mexico and they like the prices, she said.
And until recently, people from the United Kingdom and Germany targeted Sarasota and Fort Myers, Fuentes said. “Now, the prices have gone up down there and there are limits in land mass. You are seeing movement of Germans and British here. Prices are a big draw.”
Copa Airlines, which now offers direct flights from Panama City, brings in Latin American investors who previously flew directly to Miami. “Those flights, that is huge,” Fuentes said. “In addition, just in December Lufthansa added the direct flights from Frankfort, a hub for Asians who want to come to the United States.”
Glaser said a number of his Latin American clients come here because they consider it a safe place to invest their money and a safe place for their families, who in some cases are living behind barbed wire fences in their home countries.
The majority of Latin American buyers come from Brazil, Venezuela, Colombia and Argentina.
Part of the difficulty in bringing in foreign buyers is that they are not all familiar with Tampa, Glaser said. There’s a learning curve about where it is in relation to Miami and Orlando and what this area has to offer, from condos and suburban homes to restaurants, museums and culture.
“Walkability is big with Europeans,” said Jane Gowarty, vice president of business development and relocation for Smith & Associates. “They want to be able to walk to the grocery, the museum, to look at the water. If you can get them to Tampa Bay and give them a tour, safety is a huge factor and the pricing here is right.”
Copyright © 2016 the Tampa Tribune (Tampa, Fla.), Yvette C. Hammett. Distributed by Tribune Content Agency, LLC.
The 91ST EAST-WEST SHRINE GAME will be held this Saturday, January 23 at 4 p.m. at
Tropicana Field, St. Petersburg, Florida. The gates open at 2pm.
For full event details, visit shrinegame.com.
General Admission tickets are $15 each but not required for kids under age 2.
The game was first created by the Shriners in 1925 at San Francisco’s Ewing Field. The East-West Shrine Game was the country’s first college all-star football game. From that very first game, held the day after Christmas, they raised $25,000. The game supports Shriners Hospitals for Children with its mission to help children in need of expert medical care. More than 1 million children have benefited from the Shriners Hospitals which provide them and their families with hope and healing, regardless of the families’ ability to pay for services. In 1935 future President Gerald Ford played in the game. In 2012 the game was moved to Tropicana Field in St Petersburg.
Another benefit is that usually over 300 NFL scouts and agents attend the practices throughout the week as well as the game on Saturday. On average, more than 265 East-West Shrine Game alumni are on NFL teams each season. About 90 players from last year’s game signed with professional teams and more than 70 of them made the final NFL rosters.