Clearwater Beach Florida Real Estate Blog

Jiving with the G.I.'s on a Friday Night

Thu, 16 May 2013 03:00:00 GMT

Swing and sway the night away during USO Tampa Bay's 1940's Dance Show and G.I. Jive. We're supporting our active duty military and their families during Armed Forces Week. The evening kicks off with dance lessons until 8:30 followed by a 19-piece big band performing the swingin' hits of Count Basie, Glenn Miller and other artists of the era. The festivities don't end there! Take a trip back in time as you view classic World War II memorabilia, flaunt your best moves in the dance contest, enjoy a guest swing performance or keep those dancing feet energized with the cash bar and concessions. Be sure to participate in the 50/50 and basket drawings for a chance to win some fabulous prizes. And don't forget to dress to impress! Come in your best 1940's attire and you may take home the prize for Best Dressed! From 8pm until midnight at the Coliseum on 4th Avenue in St. Petersburg [map].

Michelle Chenault
Your Local Clearwater Beach, Florida Real Estate Expert

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Michelle Chenault is your ultimate resource for Clearwater, Clearwater Beach, Belleair Bluffs, Island Estates and Tampa Bay real estate. Visit our website for detailed information on all real estate including Clearwater Beach Condominiums

This blog is maintained by Michael of Kim Hughes & Company.

Metro Area Home Price Growth Trend Continues in First Quarter

Tue, 14 May 2013 03:00:00 GMT

WASHINGTON (May 9, 2013) – Metropolitan area median home prices continued to rise in the first quarter, with the national gain showing the best year-over-year performance in over seven years, according to the latest quarterly report by the National Association of Realtors^®. A companion breakout of income requirements to purchase a median-priced home on a metro basis shows the typical buyer earns roughly double the income needed to buy a home in his or her area.

The median existing single-family home price rose in 133 out of 150 metropolitan statistical areas¹ (MSAs) based on closings in the first quarter of 2013 compared with first quarter last year, while 17 areas had price declines. In the fourth quarter of 2012, a comparable 133 areas showed price increases from a year earlier, greatly improved from the first quarter of 2012 when prices in only 74 metros were up.

Lawrence Yun, NAR chief economist, said many areas are experiencing a seller’s market. “The supply/demand balance is clearly tilted toward sellers in a good portion of the country,” he said. “Inventory conditions are expected to remain fairly constrained this year, so overall price increases should be well above the historic gain of one-to-two percentage points above the rate of inflation. If home builders can continue to ramp up production, then home price growth is expected to moderate in 2014.”

At the end of the first quarter there were 1.93 million existing homes available for sale, which is 16.8 percent below the close of the first quarter of 2012, when 2.32 million homes were on the market.

Click here to see the most current home sales for the Clearwater, FL area - REAL ESTATE CORNER

For the full article courtesy of realtor.org - http://www.realtor.org/news-releases/2013/05/metro-area-home-price-growth-trend-continues-in-first-quarter

Being Prepared to Buy

Tue, 14 May 2013 03:00:00 GMT

It’s not hard to see the signs. The housing market in some regions is roaring toward a complete recovery. In California and Florida, developers are resorting to lotteries to handle the scores of prospective buyers each new home brings. It seems every week brings new, positive reports on housing starts, sales and other statistics. So if buying a home is on your agenda this year, you’ll need to be prepared.

Know What You Can Afford

This part of the process can be difficult, because you have to be painfully honest with yourself or you risk problems down the road. You know how much you make. What you need to know is home much of that is available for a mortgage payment and insurance every month, as well as annual taxes and fees. Sometimes, it can be easier to work from the other direction and determine how much you have left over after other expenses are accounted for in your plan. These are things like car payments, monthly food purchases, and school related expenses. However you can get there, you need to have a number to represent how much you can spend each month to pay for your housing. You won’t be the only one doing this, of course. Your lender is also going to make the same assessment when they decide how much they’re going to be willing to lend you!

Know What You Want

Here’s where you can go a little crazy. You want to make a list of all the things that would make a new house perfect for the life you envision living in it. Don’t add things unless they really would make you happy. This isn’t about what you can afford, this is about what you’d like to have if you could get it. A media room? A three-car garage? A hot tub and his and hers closets in the master? Write it down. A list like this can really help you narrow potential choices down as you compare what’s on this list to the features of houses you’ve seen.

Know What You Need

This one is a little harder, because you have to take the list you just made and take out everything that isn’t essential to the life you want. While the list above is what would be nice to have, this is the list of things that a potential new home must have. You might be able to live without wood floors, but what about central heating and air? Or access to top notch schools and medical care. Handing this list to a real estate professional means you’re going to only see houses that have already passed an essential screening.

Having thought through these elements before you begin searching can save you a lot of time. When we begin looking at houses, you’ll see the benefit of this preparation right away. And with some luck, we’ll have you in the perfect new home in no time!

This blog is maintained by Michael of Kim Hughes & Company.

A Full Week of Dining Out Every Night

Wed, 08 May 2013 03:00:00 GMT

That's what you could be doing if you fully celebrate the Clearwater Beach Restaurant Week, officially kicking off on Sunday. The restaurants participating will be serving special prix fixe dinners ranging in price from $15 to $35. Some will serve prix fixe lunches for $10 to $15. You'll be able to vote for your favorite chef and food. And with four stamps in your Restaurant Week passport, you'll be eligible for a chance to win A Dream Beach Getaway.

This blog is maintained by Michael of Kim Hughes & Company.

March Pending Home Sales Improve but Overall Pace Leveling

Tue, 07 May 2013 03:00:00 GMT

WASHINGTON (April 29, 2013) - Pending home sales increased in March and remain above year-ago levels, but contract activity in recent months shows only modest movement, according to the National Association of Realtors^®.

The Pending Home Sales Index, a forward-looking indicator based on contract signings, rose 1.5 percent to 105.7 in March from a downwardly revised 104.1 in February, and is 7.0 percent above March 2012 when it was 98.8. Pending sales have been above year-ago levels for the past 23 months; the data reflect contracts but not closings.

Lawrence Yun, NAR chief economist, said the market appears to be leveling off. "Contract activity has been in a narrow range in recent months, not from a pause in demand but because of limited supply. Little movement is expected in near-term sales closings, but they should edge up modestly as the year progresses," he said. "Job additions and rising household wealth will continue to support housing demand."

The PHSI in the Northeast was unchanged at 82.8 in March and is 6.3 percent higher than March 2012. In the Midwest the index increased 0.3 percent to 103.8 in March and is 13.7 percent above a year ago. Pending home sales in the South rose 2.7 percent to an index of 120.0 in March and are 10.4 percent higher than March 2012. In the West the index increased 1.5 percent in March to 102.9 but is 4.3 percent below a year ago.

Total existing-home sales are projected to increase 6.5 to 7 percent over 2012 to nearly 5 million sales this year, while the national median existing-home price is forecast to rise about 7.5 percent.

Click here to see the most current home sales for the Clearwater, FL area - REAL ESTATE CORNER

For the full article courtesy of realtor.org - http://www.realtor.org/news-releases/2013/04/march-pending-home-sales-improve-but-overall-pace-leveling

The True Value of Your Investment

Tue, 07 May 2013 03:00:00 GMT

It may not be something you really want to think about in depth. Especially if that depth is underwater. But, there is a quick and easy way online for you to learn just what kind of investment you’re home has turned out to be.

The calculator, at CNNMoney, takes four factors into account. When you bought your home and how much it cost then, and the date of the last evaluation of its worth and what that dollar amount was. Given those data points, the calculator shows you the annual and total return on your investment, and how it stacks up against the average U.S. home, as well as stocks and bonds.

The beauty of this calculator is that you may learn that what looks like a bad investment would have been even worse if that same money was tied up in stock market or an average home in the same time period. The house in the example image lost $60,000 in value in just about three years during the heart of the economic crisis. No question it was a loss, but it would have been even worse for that owner to put their money into the stock market instead.

Obviously, that’s small consolation for the folks who never could get out from under that burden. But, as the market continues to strength, home prices are rising. And over the long term, some folks will weather the storm and outperform alternative investments.

Previously, we've talked about renovations that may help improve the value of your home. And there’s no question that keeping your home in good shape and looking good will help maximize its value when you’re ready to sell. I wanted to share this article, from HGTV, with you. “30 Tips for Increasing Your Home’s Value” includes those ideas, as well as videos, that can help you maximize the value of your home.

I can also help you with some perspective on this market and what works best with home buyers here. Let’s set up a time and talk about how we can, as a team, get the most value out of your home investment.

This blog is maintained by Michael of Kim Hughes & Company.

March Existing-Home Sales Slip Due to Limited Inventory, Prices Maintain Uptrend

Fri, 03 May 2013 03:00:00 GMT

WASHINGTON (April 22, 2013) - Existing-home sales eased in March from inventory constraints, which continued to pressure home prices, according to the National Association of Realtors^®.

Total existing-home sales, which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, declined 0.6 percent to a seasonally adjusted annual rate of 4.92 million in March from a downwardly revised 4.95 million in February, but remain 10.3 percent higher than the 4.46 million-unit pace in March 2012.

Sales have been above year-ago levels for 21 consecutive months, while prices show 13 consecutive months of year-over-year price increases.

Lawrence Yun, NAR chief economist, said there is more demand than supply in the current market. "Buyer traffic is 25 percent above a year ago when we were already seeing notable gains in shopping activity," he said. "In the same timeframe housing inventories have trended much lower, which is continuing to pressure home prices. The good news is home construction is rising and low mortgage rates are continuing to keep affordability conditions at historically favorable levels. The bad news is that underwriting standards remain excessively tight, while renters are getting squeezed by higher rents."

Total housing inventory at the end of March increased 1.6 percent to 1.93 million existing homes available for sale, which represents a 4.7-month supply ² at the current sales pace, up from 4.6 months in February. Listed inventory remains 16.8 percent below a year ago when there was a 6.2-month supply.

Click here to see the most current home sales for the Clearwater, FL area - REAL ESTATE CORNER

For the full article courtesy or realtor.org - http://www.realtor.org/news-releases/2013/04/march-existing-home-sales-slip-due-to-limited-inventory-prices-maintain-uptrend

Beach Goes Pops for a Weekend of Music and Art

Thu, 02 May 2013 03:00:00 GMT

For the 23rd year in a row, Pass-A-Grille Beach will come alive this weekend for the Beach Goes Pops festival. Danfield, The Hip Abduction and The Flats are on stage Friday. Saturday night, Late Night Brass brings exciting, big band jazz to the show.

Of course, there's more than just music, with fantastic arts and crafts presented by local artisans. And fantastic food from Paradise Grille, Paradise Sweets, Gennaro's Island Grille and Raw Bar, Saffrons and Su Ottavo.

Beach Goes Pops runs from 4:00pm to 10:30pm both Friday and Saturday.

This blog is maintained by Michael of Kim Hughes & Company.

How to Remember Maintenance Tasks? There’s an App for That!

Mon, 29 Apr 2013 03:00:00 GMT

These days, we’re all busy with work, family and friends. There’s so little extra time left, it’s easy to just human nature that some things just are not remembered. Like changing the batteries in the smoke-alarms or the filters in the HVAC system. You’d do them if you remembered, right?

Now, perhaps you won’t have to worry about remembering. BrightNest is a free app for iPhone and iPads that organizes cleaning and schedules maintenance tasks for you. After creating an account, or using Facebook, to sign in to the service, you’ll answer some basic questions and then the App is ready to work for you.

BrightNest will suggest a variety of tasks for you to do, and provide an estimate of how long they’ll take, how hard they’ll be and a guide to how to get them done. You can then add them to your schedule. If there’s a task not listed in the App, you can add it on the website itself.

Right now, BrightNest is only available for iOS, or through the web. The website includes a variety of excellent, time-saving ideas, from how to create a pallet garden to making small spaces work.

Like similar Apps, BrightNest is a way to simplify your life a bit. And if you're in the market to buy or sell your house, let me simplify that part of your life!

This blog is maintained by Michael of Kim Hughes & Company.

Spelling Bee Glories and Nightmares

Thu, 25 Apr 2013 03:00:00 GMT

The thrill of victory, the agony of defeat: Can you spell Competition? If the answer is yes, or no, you won't want to miss your chance to experience and perhaps participate in the Putnam County Spelling Bee. Opening this weekend,The 25th Annual Putnam County Spelling Bee is a hilarious tale of overachievers' angst chronicling the experience of six adolescent outsiders vying for the spelling championship of a lifetime. The American Stage Theatre Company is producing the show, outside at Demen's Landing Park. Shows are Wednesday through Sunday at 8pm. Tickets range from $15 to $29 and can be purchased online.

This blog is maintained by Michael of Kim Hughes & Company.

Pressure Washing Your Home

Mon, 22 Apr 2013 03:00:00 GMT

There are ten good reasons you should consider pressure washing your home this spring. Those ten reasons are: Mold, mildew, wind, rain, hail, dirt, tree sap, insects, rodents and birds. All of them take a toll on the exterior of your home, from the top of the roof to the foundation. You can certainly hire someone to do the work for you, but you might be able to save money in the long-run by investing in a pressure washer and doing the work yourself.

Pressure washers can be powered by gasoline or electricity. They can be had for around $100 up to thousands of dollars. A washer costing $200 to $300 will be just right for a normal home. You might only use it a couple of times a year, but after a couple of years, a quality pressure washer will have paid for itself.

Pressure washing is great for a variety of exterior treatments, including siding, stucco or brick. Each type requires a different approach. A good overview of the process can be found on the Lowe’s website or the WikiHow site.

Of course, make sure to close windows and doors, cover external lights and plants before you start. If your house is painted with a lead-based paint, you should not pressure wash it. If you’re not sure, contact a professional for an inspection.

Pressure washing should be an essential step in staging your home for potential buyers. If you’re thinking about selling, contact me and we’ll talk about other important elements of staging your home.

This blog is maintained by Michael of Kim Hughes & Company.

Fannie: Housing Recovery 'More Robust' Than Anticipated

Mon, 22 Apr 2013 03:00:00 GMT

Fannie Mae economists say that “the broadening housing recovery could very well be more robust” than they anticipated, according to the mortgage giant’s lately monthly economic outlook report.

Low inventories of homes for sale are contributing to rapid price increases all across the country, which are expected to continue throughout this year.

Fannie Mae economists predict that existing-home prices will rise 5.1 percent in 2013, reaching a median $186,000. They also predict home prices will increase another 3.8 percent in 2014, reaching $193,000.

New-home prices are expected to rise 4.1 percent in 2013 to a median of $254,000, followed by a 3.5 percent rise in 2014 to $263,000, according to Fannie Mae’s report.

However, higher-than-expected price jumps mixed with a shortage of for-sale houses could constrain existing-home sales this year and next, according to the economists.

Existing-home sales were up 9.4 percent last year, but Fannie economists predict sales to lessen that pace, growing by 6.9 percent this year and 5.5 percent in 2014. Sales of new single-family homes, however, are expected to post an 18 percent gain this year and a whopping 35.8 percent by 2014.

Click here to see the most current home sales for the Clearwater, FL area - REAL ESTATE CORNER

For the full article courtesy of realtormag.realtor.org - http://realtormag.realtor.org/daily-news/2013/04/18/fannie-housing-recovery-more-robust-anticipated http://realtormag.realtor.org/daily-news/2013/04/18/fannie-housing-recovery-more-robust-anticipated

Clearwater Gateway Farmers Market

Thu, 18 Apr 2013 03:00:00 GMT

The Clearwater Gateway Farmers Market Winter/Spring market offers you a chance to shop with thirty local vendors. The Market is open on 1234 Cleveland Street [map] on Saturdays from 9:00 am to 2:00 pm. Saturday will be a special Earth Day edition with live music from Carlos Rodriguez and giveaways!

This blog is maintained by Michael of Kim Hughes & Company.

Housing market growing back

Tue, 16 Apr 2013 03:00:00 GMT

WASHINGTON – April 10, 2013 – In the past year, we’ve seen solid growth in house prices in most areas of the country, double-digit growth in both new and existing home sales, and a continuing flood of mortgage refinancing. While this should not be cause for breaking out the champagne, we can at least say that things are moving in the right direction.

Many people might not appreciate the extent of the recovery because they continue to think of the housing market as though the years of the bubble were normal.

For example, existing home sales were 4.65 million in 2012. By comparison, existing homes sales averaged fewer than 3.5 million in the years 1993-95, before the housing bubble began to drive the market.

Even adjusting for population growth, the 2012 sales rate was far above the pre-bubble pace even if it is well below bubble peaks of more than 7 million.

Construction has also been rising rapidly, albeit from a very low base. The continuing weakness in construction should not be surprising. The building boom of the bubble years has left the country with an enormous oversupply of housing. Vacancy rates are still near record highs, in spite of being down from peaks reached in 2009-10.

This huge backlog of vacant homes will prevent construction from returning to normal (not bubble) levels for several years.

The Federal Reserve’s low interest policy deserves serious credit here. This has made it much easier to buy homes than would otherwise be the case. It also has put money in the economy through refinancing. If we assume that the average mortgage interest rate has fallen one percentage point as a result of Fed policy, it means that homeowners have an additional $80 billion (0.5 percent of GDP) to spend each year.

Click here to see the most current home sales for the Clearwater, FL area - REAL ESTATE CORNER

For the full article courtesy of floridarealtors.org - http://www.floridarealtors.org/NewsAndEvents/article.cfm?id=289842

Is Solar the Right Choice for You?

Mon, 15 Apr 2013 03:00:00 GMT

Solar power systems have been available for homeowners for decades. Solar is a renewable, environmentally friendly source of energy. Advocates for solar power will tell you that you can save a lot of money in power bills over the lifetime of such a system. But, remember that while sunlight is free, solar power is not. It can be a big investment, and like all investments, you need to do some research before you commit.

First off, you need to know that you’re going to get enough sunlight. Roofs heavily shaded by surrounding trees won’t work. In addition, the panels will need to face south, or as close to it as possible. And they’ll need to be angled to properly catch the maximum of sunlight.

Comly Wilson, the managing editor of the CleanEdison Blog says there are five things you must think about when considering solar power. Number one on his list is reducing the amount of electricity you use before you put the solar system together. Using energy efficient appliances and make smart choices around your home can reduce your power demand by up to 30%. And that will put you closer to energy independence. You can read the rest of his ideas here.

You can use the power generated from a solar system directly, supplementing it with a generator or batteries for times when the sun isn’t shining. Batteries add a lot to the cost and maintenance of a solar system, and have to be replaced on a regular basis. Electricity from the solar system or batteries has to be converted, using an inverter, to switch it to the AC used by our appliances, lights and electronics. Another option is to hook your solar power into the local power grid. Any energy you don’t use is purchased by the power company.

Installing a solar system is not something you can do yourself. Hire a licensed electrician with experience in solar systems. The Federal and state governments offer tax incentives for homeowners using solar. Some utility companies will lease solar gear to you, and with the right set-up, you can sell excess energy back to them. If you’re interested in buying a house with a solar system already installed, you’ll want to see copies of the energy bills and records of the costs of maintaining the system. Sellers will need to provide the same information. Even a modest energy savings can be a powerful incentive for potential buyers.

If you’d like to learn more about solar energy and your home, try these sites.

This blog is maintained by Michael of Kim Hughes & Company.

Take to the Sea in Historic Style

Thu, 11 Apr 2013 03:00:00 GMT

The historic privateer Lynx will complete its tour this weekend, marking your last chance this season to hit the high seas aboard this beautiful replica warship. The ship is available for dockside tours and two-hour sailaways. Check this link for times and tickets.

The ship is docked at the Harborage Marina in St. Petersburg [map].

This blog is maintained by Michael of Kim Hughes & Company.

Spring Deck Safety

Tue, 09 Apr 2013 03:00:00 GMT

As we settle into spring, many people are ready to move the party outside. Mild temperatures, warm sunshine and the blooms of the season are a siren song to enjoy living outdoors. But, if that means sitting out on a deck, take a few minutes to make sure you're safe.

The estimates vary, but a significant portion of the decks on American homes were not built safely. And every spring and summer, there are stories in the media about decks collapsing. Before you entertain any guests on your outdoor deck, you'll want to make sure that it's safe and sturdy. Any sway or movement of the deck, railings or stairway, needs to be checked. You can also look for signs of rot, especially where the deck attaches to the house and where two deck boards meet over a joist. The National American Deck and Railing Association offers a complete guide on checking your deck here [pdf].

A safe, well-maintained deck can be add a lot of value to your home. But, only if it's safe. If you have any doubts at all, call a professional carpenter. Only a carpenter can ensure the deck is still securely attached to your home, and can advise about any needed repairs. And if you need any advice about selling your home, please be sure to contact me.

This blog is maintained by Michael of Kim Hughes & Company.

2012 Vacation Home Sales Up, Investment Dips but Stays Elevated, Prices Rise

Mon, 08 Apr 2013 03:00:00 GMT

WASHINGTON (April 2, 2013) – Vacation home sales improved in 2012, while investment purchases remained elevated for a second consecutive year, according to the National Association of Realtors^®

NAR’s 2013 Investment and Vacation Home Buyers Survey,* covering existing- and new-home transactions in 2012, shows vacation-home sales rose 10.1 percent to 553,000 from 502,000 in 2011. Investment-home sales declined 2.1 percent to 1.21 million from 1.23 million in 2011, but those sales had been well under a million during the market downturn. Owner-occupied purchases jumped 17.4 percent to 3.27 million last year from 2.79 million in 2011.

Vacation-home sales accounted for 11 percent of all transactions last year, unchanged from 2011, while the portion of investment sales was 24 percent in 2012, down from 27 percent in 2011, marking the second highest share since 2005.

NAR Chief Economist Lawrence Yun said favorable conditions are driving second-home sales. “We had a strong stock market recovery, which helps more people in the prime ages for buying vacation homes. Attractively priced recreational property is also a big draw,” he said.

Click here to see the most current home sales for the Clearwater, FL area - REAL ESTATE CORNER

For the full article courtesy of realtor.org - http://www.realtor.org/news-releases/2013/04/2012-vacation-home-sales-up-investment-dips-but-stays-elevated-prices-rise

Tarpon Springs Fine Arts Festival

Thu, 04 Apr 2013 03:00:00 GMT

More than 200 artists and craftsmen will have their work on display this weekend at one of the premier art festivals in the Southeast, the Tarpon Springs Fine Arts Festival. Enjoy live entertainment, food and refreshments as well as beautiful art. A free concert with Circle Sky will take place from 6pm-8pm on Saturday.

What: The Tarpon Springs Fine Arts Festival
When: Saturday and Sunday, 9 a.m. to 5 p.m.
Where: Craig Park [map]
Cost: $5

This blog is maintained by Michael of Kim Hughes & Company.

Pending Home Sales Slip on Constrained Inventory

Tue, 02 Apr 2013 03:00:00 GMT

WASHINGTON (March 27, 2013) - February pending home sales flattened with limited buyer choices, but remained at the second highest level in nearly three years, according to the National Association of Realtors^®

The Pending Home Sales Index,^* a forward-looking indicator based on contract signings, slipped 0.4 percent to 104.8 in February from a downwardly revised 105.2 in January, but is 8.4 percent higher than February 2012 when it was 96.6. Contract activity has been above year-ago levels for the past 22 months; the data reflect contracts but not closings.

Before January, the last time the index showed a higher reading was in April 2010 when it was 110.9, shortly before the deadline for the home buyer tax credit.

Lawrence Yun, NAR chief economist, said limited inventory is holding back the market in many areas. "Only new home construction can genuinely help relieve the inventory shortage, and housing starts need to rise at least 50 percent from current levels," he said. "Most local home builders are small businesses and simply don't have access to capital on Wall Street. Clearer regulatory rules, applied to construction loans for smaller community banks and credit unions, could bring many small-sized builders back into the market."

Click here to see the most current home sales for the Clearwater, FL area - REAL ESTATE CORNER

For the full article courtesy of realtor.org - http://www.realtor.org/news-releases/2013/03/pending-home-sales-slip-on-constrained-inventory