New Port Richey, Florida Real Estate Blog: June 2009

Hudson, FL Waterfront Gulf Access Real Estate Market Report for MAY

I would like to first apologize for leaving this key area out of my previous reports, it will not happen again

In May '09 5 waterfront gulfaccess homes in Hudson, FL closed.  That is up 150% from last year (May '08 2 units sold)

Now the good news is that as of this posting, 13 homes are under contract which could make for a better June, provided they can actually get to the closing table.

now with 105 houses on the market presently, that equates to 21 months inventory on the Water with gulf Access

The current homes for sale range in price from $79,000 for a 720 sqft 2 bed/1bath home, all the way up to $1,275,000 for a 2300 sqft 3/3/2.   That is quite a bit of variety.

If you are interested in perusing the oppurtunities in Hudson, FL, or nearby areas, feel free to search our MLS here--> http://danhunter.point2agent.com/

Daniel J. Hunter
Fruits Real Estate Services Inc.
http://www.LoveTheGulf.com
http://AgentListingWebsites.com

http://www.LoveTheGulfRE.com
http://ActiveRain.com/DanHunter
http://www.Twitter.com/LoveTheGulfRE
http://www.FaceBook.com/daniel.j.hunter
http://www.LinkedIn.com/in/DanielJHunter
http://www.BrokerAgentSocial.com/DeeJayH

I sure hope so, my broker always says we are a few months behind Naples

Thanks for a great Post Shannon. 

Sincerely appreciated and I re-blogged it for more to see

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The rules recently changed and one needs 30% down to buy a condo.   Now if you have $15k are you really looking at $50k condo's?  As nice as this unit is, I think only a cash buyeer wwould be interested.  Any suggestions????  Sellers rode it all the way down as the market collapsed and just want to get rid of the overhead costs.  They know they are going to lose money

http://dan1.LoveTheGulf.com

it's a nice all ages community with ~65 units right next to the counties only mall.  Place used to be a gold mine for me.  I cant give the frigging thing away.  My client even looked into donating the property to Habitat for Humanity. AAAAAAAARRRRRRRRRRRGGGGGGGGGGHHHHHHHHH

Check out http://AgentListingWebsites.com  and use coupon code RealtorVIP for half off first month, no contract EVER.

My service Does just that.  it includes, on every listing page you generate, the AddThis tool, which allows you, with the click of your mouse, to share the new listing with many of your Social Media Networks.  Not only that, but when you go on a listing appointment, you bring the rider sign, with the web address for the house.  And you tell the seller that this sign will hang in your yard and it will Sell YOUR house and only your house.    It is not a website of all my lsitings, or all my firms listings.   You do not have to wade through a sea of listings to view it. Not only that, but here are some business cards for you, the seller to pass out among family, friends, co-workers, and anybody else who may be interested, or know someone who is, in your house. 

On top of that, not only will you, the Listing Agent use the AddThis tool, I suggest weekly, but your Broker can assign an staffer to do it as well.   And if your seller is active on sites, they can use the AddThis feature as well as, any interested buyers who view the webpage.

Now here is the key difference that enhances the powerful harnessing of Social Networks.  You only have 1(ONE) domain name.  You change the subdomain to identify each propety.  You make the sub domain  specific enough to speak to that property, but keep it general enough, so that when you sell that listing, you delete it's webpage, but than recreate it with your next listing.  Therefore all the promotion with AddThis that you, your broker, your previous seller, interested buyers, etc.. did, is still out there in cyberspace ready to be compounded by the neew rash of marketing of the Same URL but with a differnet property.  Since you ca reuse the web address' the Rider sign goes from house to house.  The business cards you give to sellers go from house to house.  it is all recyclable because while the URL is selling the house it is currently associated with, all the marketing, in print, online, etc... is actually promoting the URL, time after time after time.

Check out http://AgentListingWebsites.com  and use coupon code RealtorVIP for half off first month, no contract EVER.

Impressed? I hope so, because we charge no start up fees.  There are no contracts. If you are happy with the service and the upgrades to come, at no additional cost to you, you can continue to subscribe.  Your domain name of your choosing is included in your first months payment.  You are allowed unlimited listings, as many as you persoally get is all that limits the number.  And for now it is a flat monthly fee of $49.00.

************here is an example : http://Ex250.LoveTheGulf.com************

************another example is : http://Ex100.LoveTheGulf.com************

************another example is : http://Dan1.LoveTheGulf.com************

Its green, because everything is reused and reused.

It is keeping up with the latest technologies, and you have my pledge that it will continue to do so.

It is as easy, if not easier than brokerloading your Local MLS.

Check out http://AgentListingWebsites.com  and use coupon code RealtorVIP for half off first month, no contract EVER.

If I have not sold you on it yet, maybe this will do it

You can also add your trusted network of associates contact info & website 1 time, and it si automatically rendered on every listing webpage  you create.  Maybe your mortgage broker would like to assist you with the nominal monthly fee of $49.99 in exchange for having a link to their business on all 5/10/50/100 listing webpages that you have.  No, maybe your title company would than, or your home inspector, hell maybe even your hair stylist would like to swap links and pick up some of the costs.  If you have 10 people in your Trusted network and you charge them $5/month, all of a sudden my service is basically FREE for you.  Now you can just add your Trusted Network at no charge to them, if you want,  That is just the spin one of our initial clients came up with.  So besides the commissions he gets for selling each house he generates a webpage for, it actually makes him money because he is charging 20 people in his Trusted Network $10/month to have a link on all 72 listings he carries.  Automatically.  So the site costs him ~$50/mo and he charges $200/mo to his trusted network, which he than uses to entertain and thank hsi trusted network on a monthly basis

Now my idea behind having the trusted network was not based on charging fees, but in exchange for being on every webpage for every listing you carry, your trusted network members would agree to use the AddThis tool every week, for every listing, for every Social Network they belong to.

In case you all missed the announcement, recently Social Network sites just overtook Email as the dominant way people communicate.  Young adults dont really use their emal for anything more than signing up to Social Network sites.  That is where they keep in touch with each other.

Still haven't got you?  well do you have a smart phone.  Well if you do, you can book mark, on your phone browser, all your listings, and than beam any one of them to an interested buyer or another agent who is interested in one of your listings.  They see pics, they see all the data input on the website, but best of all, they ahve the address to view on their computer, without having to worry about losing a flyer

Check out http://AgentListingWebsites.com  and use coupon code RealtorVIP for half off first month, no contract EVER.

 ************here is a live example : http://Ex250.LoveTheGulf.com************

***************another example is : http://Ex100.LoveTheGulf.com************

***************another example is : http://Dan1.LoveTheGulf.com************

WOW

Despite 117 SFR currently on the market offered in some stage in Foreclosre, for the entire month of may only 3 actually closed

Condo's only have 88 on the market disclosing the foreclosure, but I suspect the number is higher, much higher.  However, in May NO Condos in foreclosure sold

and as for the Mobile homes.  only 1 of them is listed as for sale but in foreclosure, and one actually sold in may while in some stage of foreclosure.

I thought alot more short sales and the like were taking place, but i guess they are falling apart before reaching the closing table.  Streamlining of the deal is most definitely in order.  It's not like this is new, the Lenders should be much more efficient than they are.

Now for Bank owned properties, this actually surprised me:

of 533 active homes, only 18 are bank owned (3.3% of all actives)

however, of the 112 homes under contract, 21 are bank owned (19% of all contracts)

of the 45 homes that closed in May, 13 were Bank owned (28% of all closed)

That is quite a dsparity in the numbers, and the Short Sales falling apart before closing, I think, have alot to do with it.

Now for Condos, their are only 83 units in Hudson, of which, NONE are Bank Owned.  nor are any of the units under contract, or any of the condos that sold in teh month of may.  That is quite the surprise for me.

Mobile Homes was almost as negligible.  3 active bank owned properties, out of 66, and only 1 of the 5 that sold were Gank owned.  However it does mean that 4/5 mobiles sold in Hudson, in May were either in some stage of foreclosure, or Bank Owned.

I think what this all boils down to, is that a Buyer can once again afford to buy a modest home in hudson, so why would they settle for the percieved stigma of a Mobile, or the perceived instrusive associations at a Condo.  Once again, in Florida, if you can afford to rent, you can afford to buy

You actually can buy a house here for $45,000.  Now even at a 7% interest rate, that is only ~$300/mo Principle and interest.  The utitlities will remain the same as renting, for the most part, and insurance on a house valued at so little would be a nominal cost.

it is a great time to be a buyer in the Hudson, Florida, as well as the rest of West Pasco, and Florida as a whole

Currently in Hudson teh worst property there is to sell is a Condo, I am afraid to say

While there are only 83 Condo's currently for sale, there are 0 under contract, and only 2 sold in May, down from 5 in April.  That means there is almost 3 1/2 years  inventory on the market 8-(

Now in a close second place would be the Mobile Home market in Hudson.  While there are only 66 mobile homes for sale currently, in May only 3 sold, down from 5 in April.   And there are only 5 units under contract presently.  That equates to 22 Months, almost 2 years, inventory on the market.

Now the Silver Lining on our dark cloud down here, If I can call it that, is the Single Family Residences.  While there are actually 533 units offered for sale, there are actually 112 under contract.  But the 'under contract' number is not exactly a good representation because 1/2 of those contracts could easily explode and fall apart before closing.  And while 38 made it to closing in May that is down from 45 sold in April.  That is a 15% decline month over month.  And it also means that there is only 14 months inventory on the market.   this is below average for the West Pasco area. 

What is going to get the market going?  Well surely the low interest mortgage rates are appealing, but they have been for some time.  The $8,000 first time home buyer assistance tax credit is another enticement, but in these hard economic times alot of people are still having trouble coming up with down payments/closing costs/ repair money for new home.  NAR just released that the average home buyer spends almost $5000 renovating/repairing their recently purchased home.

Now here in Florida, after a lot of pressure from the Florida Association of Realtors, our state government has authorized a bridge loan program, which enables first time home buyers to use the $8,000 'tax credit' as part of their down payment.  And while this may help the market in the near term, I have to wonder, is this not doing exactly what got us into such a dire situation?  If people need help getting enough money together to purchase a home, than are they not actually the same people who bought homes they could not afford, some with prime mortgages, and some with sub-prime, only to default later.   I hope we do not have a repeat, after all, we aer supposed to learn from our mistakes.  If one is to be successful in life, in any profession, than one has to not only be concerned with the near term, but also the Long Term, and to me it seems we are 'fixing our current problem' with the exact same practices that got us into this problem.  Helping people to buy house, whom without the governments help, they would not be able to afford it.

Lastly I will add just a note about an important piece that I rarely see in the discussions/news stories about the First Time Homebuyer Tax Credit.   It is $8,000 or 10% of the purchase price of the house which ever is less.  So if you are buying a bargain at only $50,000, your tax credit will only be for $5,000

Sunset pic from 6/10 at Hudson Beach, Hudson, FL

Not sure how it happened but this is an Illusion.  Most likely the Wrong setting on the camera, but made for one hell of a picture

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Closed deals on SFR fell again to 269 for the month of may

and there are 2794 homes currently on the market

That is ~10 months inventory which is another decrease in inventory. And that is a good thing, but i fear it is only temporary as the Presidents policies have had banks holding back on foreclosures, and we may see a surge before the  year is up