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Tampa area’s first-ever Certified Commercial Investment Member (CCIM) Global Real Estate Symposium on July 10, 2018 at the Hilton Garden Inn Tampa Suncoast Pkwy in Lutz!

Anyone who has an interest in investment real estate, particularly learning the current appetites of international buyers, is encouraged to attend.  Participants will learn why those “in the know” expect international buying activity to continue to increase and these attendees will become versed on how to overcome unique challenges when working with international investors.

We have a great line up of speakers you won’t want to miss! Through the end of today, the rate for attendees, is $45 for the all day event, including food. It goes up to $65 after that.

Feel free to send this link to anyone who may want to attend: https://www.flccim.com/events/west-coast-district-global-commercial-real-estate-symposium

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This is an interesting report. Quite surprised to see that Miami doesn’t have the top slot for the first time this year. St Petersburg-Tampa-Clearwater have moved into 11th place. Nice!

detroit

Where are international home shoppers looking in the U.S.? Each month, we assemble our International Demand Report, examining which metros garner the most interest from international users on realtor.com®.

Miami Falls Out of Top Slot, Los Angeles Takes Over

Miami was ranked #1 during both February and January this year. As we ease out of the grips of winter, international buyers may be more willing to look beyond the dreams of beaches and vacation life offered by Miami. Miami has dropped to rank #4, and Los Angeles moves into the top slot. The last time Los Angeles was ranked at #1 was from September to November last year.

Despite this slip, expect to see Miami bounce back in the coming months.

Detroit Jumps To 2nd Place

It’s not common to see too much of a shift in the top ranks of international demand. So it was a bit of a shock when the Detroit metro area jumped 24 spots all the way to rank #2. Such a drastic jump warranted additional investigation. We tracked the activity down to a listing that went viral on social media which bolstered traffic from Canada and the UK.

However, even when we went back into the data and removed the traffic directly related to that listing, we saw that this listing generated substantial residual traffic to the rest of the Detroit area. It’s this residual traffic that ultimately propped up Detroit this month.

Explore these trends and more on our international demand page.

international demand march 2018

Florida's Tampa and Orlando Housing Markets Ranked First and Fourth Best U.S. Cities for First-time Buyers

(Ariel photo of downtown St Petersburg, in the Tampa Bay area of Florida)

According to Zillow’s 2018 Best Markets for First-Time Buyers Analysis, first-time buyers in the U.S. looking for an affordable home without much competition may have the best luck in the State of Florida, with both Tampa and Orlando ranked high in the Top 10 best cities for first-time home buyers in 2018. Texas also had 3 cities ranked high on the same list.

Residential News » Tampa Edition | By Michael Gerrity | March 2018

Zillow ranked the 35 largest U.S. housing markets based on where first-time buyers have the best chance to find an affordable home with little buyer competition and strong forecasted home value appreciation. First-time buyers make up 42 percent of all buyers, according to the 2017 Zillow Group Report on Consumer Housing Trends.

Orlando-pic.jpgThe U.S. housing market is competitive for all buyers, as there are not enough homes for sale to meet today’s strong buyer demand. In January, inventory of the least expensive homes was down 17.1 percent annually, compared to a 9.7 percent decrease for all homes. In 2017, nearly a quarter of home sales were above the listed price. This puts first-time buyers at a disadvantage this home shopping season because they won’t have the capital from a previous home sale to help fund a down payment or keep up with bidding wars. Saving up for a down payment is the most commonly cited barrier to homeownership.

New buyers will have it easiest in the Southeast, especially Texas and Florida. Five of the top 10 markets for first-time buyers are in those two states. Homes in those markets require a smaller down payment, and buyers are more likely to encounter price cuts.

First-time buyers are likely to face the most difficulty in pricy West Coast markets, especially California metros. Not only are homes expensive, but inventory is especially limited, and it takes longer to break even on a home purchase.

Ten Best Markets for First-Time Homebuyers in 2018

1.   Tampa, FL
2.   Indianapolis, IN
3.   Houston, TX
4.   Orlando, FL
5.   San Antonio, TX
6.   Saint Louis, MO
7.   Philadelphia, PA
8.   Atlanta, GA
9.   Las Vegas, NV
10. Dallas, TX

“More and more millennials are reaching the point in their lives where they are ready to buy a home, but they are entering a highly competitive housing market that has been plagued by low inventory, especially among entry-level homes,” said Zillow Senior Economist Aaron Terrazas. “Southeastern markets will be easiest for new buyers, where homes are more affordable and there’s less competition. People planning to buy for the first time in some of the tougher markets should be prepared to face a more competitive environment, but that doesn’t mean they should count out buying entirely.”

Zillow’s list of the best markets for first-time buyers is based on five metrics:

  • Low median home value that requires a smaller down payment
  • Strong forecasted home value appreciation
  • High inventory-to-household ratio, to indicate available supply
  • Short Breakeven Horizon, which is the time it takes for buying to be financially advantageous compared to renting
  • High share of listings with a price cut

Some great things to do this weekend in beautiful, sunny, warm St Petersburg, Florida-enjoy!!

Friday, March 2nd, 2018

First Friday in downtown St Petersburg 
Tampa Bay Beer Week starts with First Friday with special craft beer tastings from Cycle, Crooked Thumb, Cigar City, Lagunitas, New Belgium, and Sierra Nevada. Get a taste of St. Patrick’s Day luck with Jameson’s special Cask Mates IPA! The Tempests will be playing.  5:30-10pm.  Central Ave Between 2nd & 3rd St.

The Soul Rebels return to the Witch Friday 3/2 for a free show
The Soul Rebels, an Eight piece brass ensemble from New Orleans, returns to the Witch for a very special concert on the First Friday of March. We will be kicking off the Tampa Bay Beer Week a day early with this show as we jump start the festivities in style Friday March 2nd. 9-11:30p.m. The Ale and the Witch 111 2nd Ave NE

Saturday, March 3rd

Saturday Morning Market Moves to Williams Park March 3; Closes For Grand Prix March 10 temporarily relocating to Williams Park, 350 2nd Ave. N., as the city finalizes preparations for the March 9-11 Firestone Grand Prix of St. Petersburg. Williams Park is only four blocks from the Market’s regular location in the parking lot of Al Lang Stadium. Market hours are 9 a.m. to 2 p.m. The Market is held weekly on Saturdays from October through May from 9 a.m. to 2 p.m.

 


St. Petersburg Seafood & Music Festival – March 3-4 (Saturday and Sunday)
On the waterfront in downtown St. Petersburg-delicious fresh Florida seafood, drinks, and the sounds of some of Florida’s top artists and bands from both the local and regional circuit. General admission $7 at the gate, $5 in advance, with children under the age of 12 admitted free. Saturday 11 am-8 pm and Sunday 11 am-7 pm; Vinoy Park 701 Bay Shore Dr NE     For more information, including VIP admission rates,  go to http://www.paragonartevents.com/

St Pete Indie Market
90+ Vendors featuring artists and makers, vintage collectors, plants, handcrafted goods, small business, food and more! 11a.m.-4p.m.
Green Bench Brewing Co. 1133 Baum Ave N

6th Annual Awakening Into The Sun Wellness Festival
South Straub Park for a combination of health and wellness activities, spiritual connection, artisan vendors, healthy food, and fun in the sun at St. Petersburg’s beautiful waterfront 9a.m.
Starub Park- Downtown Waterfront Park 400 S Bayshore Dr

Flogging Molly
Irish-American seven-piece Celtic punk band from LA and led by Irish vocalist Dave King,  Jannus Live. 200 1st Ave N

Sunday, March 4th

Twinkle & Rock Soul Radio, St. Petersburg Seafood & Music Fest.
Foods and drinks with musical performances by local and regional musicians from jazz to rock, jazz, calypso, reggae and more. 1:30-3p.m. 701 Bay Shore Dr NE

Pinellas Park Civic Orchestra
Light classical, show tunes and pop  7:30-10p.m. Pinellas Park Performing Arts Center, 4951 78th Ave N

Please join the Pinellas International Council from 9-4:30 on March 16, 2018 for our 7th Annual Global Real Estate Symposium. You will learn about International Tax Issues from Susan Poskus-always a crowd pleaser because of her extensive knowledge! Also Brent Parkway, of the Pinellas County Economic Development and April Kalapp of First American Title will be presenting. To end the day, why not earn some CE credits from Don Gonzalez, attorney followed by networking, wine and appetizers?!

Not bad for $10-$15 for the day. Become a Council member & the event is only $10.

You MUST register by March 9th.

7th Annual Global Symposium 3-16-18

According to ATTOM Data Solutions’ Q3 2017 Pre-Mover Housing Index, the U.S. housing markets with the highest pre-mover indices during the third quarter of 2017 — predictive of strong sales activity in the fourth quarter — were Colorado Springs, Colorado; Manchester-Nashua, New Hampshire; Chicago, Illinois; Washington, D.C.; and Nashville, Tennessee.

Residential News » Irvine Edition | By Monsef Rachid | December 12, 2017

The top five markets — among 123 total metro areas analyzed for the report — all posted a pre-mover index of 196 or higher. Other markets in the top 10 for highest pre-mover index in the third quarter were Reno, Nevada (189); Tampa-St. Petersburg, Florida (188); Las Vegas, Nevada (180); Jacksonville, Florida (179); and Kingsport-Bristol, Tennessee (178).

Among the same 123 metro areas analyzed for the report, those with the lowest pre-mover indices in the third quarter were Rochester, New York (35); Akron, Ohio (47); Myrtle Beach, South Carolina (47); Providence, Rhode Island (52); and Cleveland, Ohio (52).

“Markets that offer the best upward mobility potential both for prospective first time homebuyers as well as current homeowners who want to move up are those with the

“Home buyers are most likely to move — and homeowners are more likely to move up — in markets with plenty of available jobs along with a reasonable supply of homes for sale,” said Daren Blomquist, senior vice president at ATTOM Data Solutions. “Markets with this enviable and increasingly rare combination of jobs and housing inventory tend to be in secondary and even tertiary markets that are somewhat off the beaten path. Even in more mainstream markets, the counties with the highest pre-mover indices tend to be in outlying areas where more inventory is available or can be built.”

Top pre-mover counties post lower unemployment rates, slightly weaker wage growth

Out of 331 U.S. counties analyzed for the report, 213 posted a pre-mover index above the national average in the third quarter. The average September unemployment rate in those 213 counties was 3.8 percent, compared to an average unemployment rate of 4.2 percent in the 118 counties that posted a pre-mover index below the national average in the third quarter.

Weekly wages grew 6.4 percent from a year ago on average in the 213 counties with a Q3 2017 pre-mover index above the national average while average weekly wages grew 6.5 percent from a year ago on average in the counties with a Q3 2017 pre-mover index below the national average.

Highest share of second home pre-movers in Myrtle Beach, Asheville, Daytona Beach

Among 123 metropolitan statistical areas with at least 100,000 single family homes and condos and at least 100 pre-movers in Q3 2017, those with the highest share of pre-movers indicating interest in second home purchases were in Myrtle Beach, South Carolina (14.2 percent); Asheville, North Carolina (10.7 percent); Deltona-Daytona Beach-Ormond Beach, Florida (10.3 percent); Atlantic City, New Jersey (9.6 percent); and Cape Coral-Fort Myers, Florida (9.4 percent).

Highest share of investment home pre-movers in Memphis, Jackson, Boulder

Among 123 metropolitan statistical areas with at least 100,000 single family homes and condos and at least 100 pre-movers in Q3 2017, those with the highest share of pre-movers interested in investment property purchases were Memphis, Tennessee (29.9 percent); Jackson, Mississippi (13.7 percent); Boulder, Colorado (12.6 percent); Indianapolis, Indiana (11.0 percent); and Kansas City, Missouri (9.2 percent).

Counties with highest and lowest pre-mover indices in Q3 2017

Among 331 U.S. counties with at least 50,000 single family homes and condos and at least 50 pre-movers in the third quarter, those with the highest pre-mover index were Loudon County, Virginia in the Washington, D.C. area (304); El Paso County, Colorado in the Colorado Springs metro area (300); Prince William County, Virginia in the Washington, D.C. metro area (298); Will County, Illinois in the Chicago metro area (298); and Champaign County, Illinois (258).

Among the 331 counties analyzed for the report, those with the lowest pre-mover index in Q3 2017 were Wayne County, Michigan in the Detroit metro area (32); Queens County, New York (37); San Mateo County, California in the San Francisco metro area (40); Monroe County, New York in the Rochester metro area (42); and Stark County, Ohio in the Canton metro area (44).

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Happy Holidays, however you celebrate!

Below is a list of some of the various holiday events going on in December 2017 throughout Tampa and Ibor City.

From movies in the park to Twilight 5k runs,

from boat parades to Chanukah festival fun,

a lot of good things for everyone!

 

Holiday Happenings

Carlos Fuentes, of Namaste Realty from the Tampa Bay area, discusses global commercial real estate, what you can learn via CIPS, U.S. international investment expectations, and benefits of joining a local global counsel.

Carlos NAR Commercial-CIPS interview

http://www.narconferencelive.com/2017/11/07/global-commercial-real-estate-overview-nar/?sf169957080=1

ORLANDO, Fla. – Oct. 2017 – Higher home prices and a tight supply of homes for sale may be the mantra nationwide – but certain markets are still offering lucrative options for investors, including two in Florida.

http://www.floridarealtors.org/NewsAndEvents/article.

Real estate sales and auction company TenX released its top picks for investors. Texas had the most markets on the list, scoring three out of the top five, as it continues to post strong growth in employment and home construction. San Antonio topped TenX’s list for best places for investors, posting strong population growth for six years and having incomes hit all-time highs. San Antonio is followed on the list by two other Texas hot spots: Fort Worth and Dallas.

Home prices are rising quickly in Texas, but they remain low compared to some other hot markets, like in California, TenX notes.

“If you look at our report, probably eight or nine of the top 20 markets in terms of housing performance are in either Texas or Florida,” says Rick Sharga, executive vice president at TenX.

“The Florida markets will be more directly impacted because Irma hit everything, but even in Texas, a lot of the construction and labor and materials and so forth that’s been going to build new properties in Dallas and Fort Worth and San Antonio might get diverted to rebuild Houston, and that could have a noticeable impact on home sales and home starts over the next six to nine months.”

Investors have had to shift course in many cities as the number of low-priced or foreclosed homes dries up.

“What they’re really looking to do now is make money on the month-to-month rent, so in a lot of cases they’re buying properties at full value,” Sharga told CNBC. “In some cases, they may even be slightly overpaying for properties, but they’re making it up in the rental income over the period of time.”

The following are the top 10 markets for investors, according to TenX:

  1. San Antonio
  2. Fort Worth, Texas
  3. Dallas
  4. Columbus, Ohio
  5. Tampa, Fla.
  6. Orlando, Fla.
  7. Indianapolis
  8. Austin, Texas
  9. Nashville, Tenn.
  10. Raleigh, N.C.

http://www.floridarealtors.org/NewsAndEvents/article.

Source: “Want to be a Landlord? These Are the Top Markets This Fall for Investing in Rental Homes,” CNBC (Oct. 13, 2017)

 

 

From the National Association of REALTORS® Commercial and Global Services:
“Your association’s Global Business Council has been named a Platinum Council in the 2017 Global Achievement Program. Reaching the Platinum award level places you in the top 11% of councils operating nationwide. Your council contributed to raising members’ awareness of global business in your local market. Your council has demonstrated the utmost commitment to helping members capture their share of the global real estate market in the United States, in addition to connecting your council and members to the global community in your area.”
We, the Pinellas International Council board would like to thank NAR, the Pinellas REALTOR® Organization (PRO), the Pinellas Realtor Affiliates, and all of the members of the Pinellas International Council for making this recognition possible!! Thank you all so much!! We will do our best to continue bringing Global education and events to our members.
2017-NAR-Global-Platinum (1) - Copy

Annalisa Weller, Realtor®, Certified International Property Specialist

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