Homes on Clearwater Beach Archives

Pinellas County Real Estate Report for December 2015

The year came to a strong close for Pinellas County Real Estate, with closed sales up 4.5% for December 2015 over December 2014, and up 24.7% for the year compared to 2014 (22,952 units in 2015 and 20,007 units in 2014).

The sold dollar volume was up a whopping 21.7% year over year, from $4.1 billion in 2014, to $5 billion in 2015. Average sale price for a single family home was $247,860 in December 2015, up 5.0% from last December ($236,078).

The average sale price for townhome/condo was $191,346, up 7.7% from $177,632 a year ago.
The number of closed sales for single family and townhome/condo combined for December 2015 was 1,955, up 4.5% from 1,870 in December 2014.

New single family listings for December 2015 were 1,131, down 1.5% from December 2014, at 1,148. Median sales price for single family was $186,450 this December, versus $169,000 last December, an increase of 10.3%.

Inventory Remains Low as Median Prices Continue to Rise

The Median sale price for the townhome/condo segment was up 9.2% for December 2015 ($131,000) over December 2014 ($120,000). December 2015 saw only 44 median days on market for single family, down 15.4% from December 2014, when the count was 52. For townhome/condo, the median days on the market were also low, at 49 in December 2015, down 29.0% from 69 days in December 2014.

Total month supply of inventory is down 21.1% from last December for single family, with a 3.3 month supply this December as compared to a 4.2 month supply in December 2014.
Active listings for December 2015 single family and townhome/condo combined were 6,575, down 9.8% from 7,287 in December 2014.
Both stats continue to show the low inventory we’ve seen throughout 2015.

Representing more than 6,000 members, the PINELLAS REALTOR® ORGANIZATION is one of the Tampa Bay area’s largest professional trade associations.

Pinellas Realtors® January 2016

Homeowners Reap Remodeling Benefits

Homeowners Reap Remodeling Benefits Whether Selling or Staying, Say Realtors®

Homeowners preparing to sell often make improvements, both big and small, to their homes that can help yield positive results and garner top dollar from buyers. According to a new report from the National Association of Realtors®, remodeling projects can also bring major benefits to homeowners who choose to remain in their homes.

“Realtors® know that certain home upgrades and remodels can be beneficial to get more buyer eyes on a property, potentially bring in more offers or gain more equity from a home,” said NAR President Tom Salomone, broker-owner of Real Estate II Inc. in Coral Springs, Florida. “But remodeling projects are just as valuable to homeowners who simply want to get more joy out of their dwellings. Regardless of the situation, Realtors® know what remodeling projects bring the biggest bang for the buck and what projects are most likely to improve a homeowner’s impression of their current place.”

According to NAR’s 2015 Remodeling Impact Report, which uncovers the reasons homeowners choose a remodel and the increased happiness certain projects bring once completed, 64 percent have experienced increased enjoyment in their home after completing a remodeling project.

Additionally, 75 percent of respondents said they felt a major sense of accomplishment when thinking of their completed project. Fifty-four percent of respondents felt happy about the changes to their home, and 40 percent felt satisfied. As for their reasons to complete a remodeling project, 38 percent of homeowners said they wanted to upgrade worn-out surfaces, finishes and materials; 17 percent wanted to add features and improve livability; and 13 percent believed it was time for a change.

Realtors® named kitchen upgrades, complete kitchen renovations, bathroom renovations and new wood flooring as the interior projects that most appeal to potential buyers. Similarly, Realtors® also ranked projects based on expected value at resale (without accounting for project price); the projects that ranked the highest in this category were complete kitchen renovations, kitchen upgrades, bathroom renovations and the addition of a bathroom.

When looking at the interior projects that yield the biggest financial results upon resale, Realtors® ranked hardwood flooring refinishes (100 percent of project cost recovered upon resale), insulation upgrades (95 percent recovered), new wood flooring (91 percent recovered), and converting a basement to a living area (69 percent recovered) as projects to consider.

Exterior projects are also important for both sellers and homeowners looking to increase satisfaction with their current home. Realtors® said new roofing, new vinyl windows, new garage doors and new vinyl siding are most appealing to potential buyers and are highly valued upon resale (both considering project price and disregarding project price).

Upon resale, Realtors® said new roofing would recover 105 percent of its project cost, a new garage door would recover 87 percent, new vinyl siding would recover 83 percent, and new vinyl windows would bring back 80 percent of their cost.

As for exterior projects that bring the most happiness for those not necessarily intending to sell, homeowners said new fiber-cement siding, new fiberglass or steel front doors, new roofing, and new garage doors brought the most satisfaction.

The 2015 Remodeling Impact Report, the first of its kind from NAR that examines personal satisfaction from remodeling projects, surveyed Realtors®, consumers who have completed their own remodeling projects, and members of the National Association of the Remodeling Industry.

“Remodeling projects can greatly improve both the value of and satisfaction with one’s home, which are great things no matter the reason for a project,” said Judy Mozen, president of the National Association of the Remodeling Industry. “This report highlights the best projects to consider in either situation and showcases just how much of a difference a good and professional remodel can make in real numbers.”

Salomone said the report not only assists homeowners who are preparing to sell in choosing the best projects to attract buyers, but it also helps those looking to get more personal satisfaction out of their homes.

“Realtors® know that remodeling projects aren’t just done to get more money for a home once it’s time to sell – a home is your sanctuary, the place you raise your family and where you make lifelong memories, which is why the report can also help consumers decide which projects could enhance their current quality of life and happiness,” he said.

The National Association of Realtors®, December 2015

Florida Housing Market Report – October

Florida Housing Market Report

Florida’s housing market reported higher median prices, fewer days on market and a constrained inventory of homes for sale in October, according to the latest housing data released by Florida Realtors®. Statewide closed sales of existing single-family homes rose last month with a total of 22,147, an increase of 1.2 percent over October 2014.

“October marked the 47^th consecutive month that statewide median sales prices increased year-over-year for both single-family homes and townhouse-condo properties,” said 2015 Florida Realtors President Andrew Barbar, a broker with Keller Williams Realty Services in Boca Raton. “Sellers received a higher percentage of their original list price, with single-family homes getting on average 94.3 percent and townhome-condos getting 93.3 percent. It also took less time for homes to sell in October: a median of 46 days for single-family homes and 50 days for townhouse-condos.

“The state’s housing market continues to benefit from more people moving to Florida, the increased job growth and stronger economy.”

The statewide median sales price for single-family existing homes last month was $198,995, up 12.4 percent from the previous year, according to data from Florida Realtors Industry Data and Analysis department in partnership with local Realtor boards/associations.
The statewide median price for townhouse-condo properties in August was $150,000, up 7.2 percent over the year-ago figure. The median is the midpoint; half the homes sold for more, half for less.

According to the National Association of Realtors®(NAR), the national median sales price for existing single-family homes in September 2015 was $223,500, up 6.6 percent from the previous year. The national median existing condo price was $209,200. In California, the statewide median sales price for single-family existing homes in September was $482,150; in Massachusetts, it was $340,500; in Maryland, it was $260,126; and in New York, it was $240,000.

Looking at Florida’s townhouse-condo market, statewide closed sales last month totaled 9,294, down 0.9 percent compared to October 2014. The closed sales data reflected fewer short sales in October: Short sales for townhouse-condo properties declined 47.7 percent while short sales for single-family homes dropped 33.1 percent. Closed sales typically occur 30 to 90 days after sales contracts are written.

“The Florida real estate market is catching its breath after a frantic summer and early fall,” said Florida Realtors Chief Economist Dr. John Tuccillo. “One month’s numbers do not make a trend, but the October numbers are signaling a return toward a more balanced market.”

Inventory remains constrained, with a 4.4-months’ supply in October for single-family homes and a 5.3-months’ supply for townhouse-condo properties, according to Florida Realtors. Most analysts consider a 6-month supply of inventory as the benchmark for a balanced market between buyers and sellers.

According to Freddie Mac, the interest rate for a 30-year fixed-rate mortgage averaged 3.80 percent in October 2015, down from the 4.04 percent average recorded during the same month a year ago.

Florida Realtors® November 2015

Florida Record-Breaking Tourism

The Sunshine State welcomed an estimated 79.1 million visitors during the first nine months of 2015, the most of any such period in Florida’s history.

The nine-month count was a 5.5 percent increase when compared with the same period in 2014.

Gov. Rick Scott has set a goal of drawing more than 100 million tourists to Florida this year, and that now seems within fairly easy reach.

VISIT FLORIDA estimates that 22.1 million domestic visitors traveled to Florida in the third quarter of 2015, reflecting an 8.2 percent increase over the same period last year.

Estimates also show that 3.4 million international visitors came to Florida in quarter three of 2015. Preliminary figures for the first three quarters of 2015 show 67.4 million domestic visitors, 8.3 million overseas visitors and 3.4 million Canadians have come to the Sunshine State.

Will Seccombe, President and CEO of VISIT FLORIDA, said, “With three record quarters and a fifth consecutive record year on the horizon, it’s clear that this continued growth does not happen by accident. It’s the direct result of a global marketing strategy focused on maximizing the economic impact of Florida tourism.

“Today’s announcement shows tourism marketing works and we have Governor Scott and the Florida Legislature to thank for their unparalleled support that will enable us to reach our goal of generating $100 billion in visitor spending by 2020.”

Tourism and recreation taxable sales for Florida increased year-over-year for January through August 2015 (last reported month), representing an 8.2 percent increase over the same period in 2014.

For quarter three of 2015, the average daily room rate (ADR) rose 5.1 percent, the occupancy rate for Florida hotels increased 3.6 percent and the demand in rooms sold grew 4.8 percent compared to quarter three of 2014.

John Tomlin, Chair of the VISIT FLORIDA Board of Directors, said, “The continued growth of tourism for the third quarter, including a record number of tourism-related jobs, puts Florida on pace for a fifth consecutive record breaking year.

“These records also emphasize the power of tourism as an economic leader and job creator for the state. Outcomes like these are the direct result of the vision and support of the Governor, Legislature and our amazing tourism industry, as well as world-class strategies and execution by the VISIT FLORIDA staff.”

Bill Talbert, Vice Chair of the VISIT FLORIDA Board of Directors and President & CEO of the Greater Miami Convention & Visitors Bureau said, “Florida’s tourism continues to make history with another record-shattering quarter. New and established hotels, attractions, restaurants and hospitality-related businesses are fueling strong industry job growth and increased tax revenues.

Those who enthusiastically welcome and serve our visitors continue to deliver great experiences, contributing to our state’s growing popularity. We are fortunate to have a Governor and Legislature that support our industry and VISIT FLORIDA so that we can share the diverse treasures of our state with the world.”

Florida is fortunate to have the strong support of Governor Scott and the Legislature, as well as funding matched by dollars from great industry partners. This support allows VISIT FLORIDA to reach even more markets and potential visitors with compelling reasons to visit Florida and create memories that last a lifetime.”

Sun Sentinal/Sarasota Herald Tribune November 2015

Holiday Splendor on Clearwater Beach

Holiday Events in the Clearwater Beach Area

Great holiday events for everyone – lights, rides, concerts, fireworks and more.

Holiday Lights in the Gardens

Friday, November 27, 2015 — Thursday, December 31, 2015

Take in more than 750,000 lights as the Florida Botanical Gardens in Largo are magically transformed into a holiday paradise for visitors to stroll through from 5:30 – 9:30 p.m. each night. A donation of $4 is suggested for those 13 and over, while children 12 and under and parking are free. More Information

Christmas Town at Busch Gardens

Friday, December 4, 2015 — Saturday, December 5, 2015

Head to Busch Gardens for some great thrill rides and to see the park transform into a holiday wonderland of Christmastime entertainment, holiday shopping and more than a million twinkling lights! Santa will be available to take photos and the park will be open until 10 p.m. More Information

Florida Orchestra Pops: Holiday Pops

Saturday, December 12, 2015

Share the orchestra’s tradition with family and friends, and get into the spirit of the season with everyone’s favorite Christmas carols, yuletide tunes, musical chestnuts and more. Two shows take place at 2 p.m. and 8 p.m. at the Mahaffey Theater in St. Pete. More Information

Madeira Beach Holiday Boat Parade & ROC Park Concert

Saturday, December 12, 2015

Lighted and holiday decorated boats will light up the waterways. The parade will kick off behind the Madeira Beach Recreation Center at 6:30 p.m. and ends at John’s Pass Village. More Information

Christmas Parade on St. Pete Beach

Sunday, December 13, 2015

Head down to historic Corey Avenue for a Christmas parade, visit by Santa, train rides, activities and more! The parade begins at 4 p.m. form Gulf Blvd and Blind Pass heading south to Corey Ave, then east on Corey to Boca Ciega. Enjoy the free fun from 4-7 p.m. at Horan Park next to the St. Pete Beach Community Center. More Information

The Nutcracker at the Largo Cultural Center

Sunday, December 13, 2015 — Monday, December 14, 2015

Join Clara on her journey to save her beloved Nutcracker from the giant mice who battle toy soldiers. Then on to the palace of the Sugarplum Fairy with dancing candies and waltzing flowers. A Florida Dance Company & Bay City Ballet Production for all ages. Buy tickets at LargoArts.com. More Information

Safety Harbor Holiday Parade

Saturday, December 19, 2015

Head over to Main Street in Safety Harbor for amazing floats, old fashioned cars & a visit from Santa himself! The free fun starts at 1 p.m. More Information

A Christmas Carol at Ruth Eckerd Hall

Sunday, December 20, 2015

The longest-running touring production of A Christmas Carol in the U.S. make a stop in Clearwater for two shows! Enjoy this holiday classic at 2 and 7 p.m. More Information

Moscow Ballet’s Great Russian Nutcracker at The Mahaffey

Saturday, December 26, 2015

Bring the whole family for a great Christmas celebration! The Moscow Ballet will be performing the Great Russian Nutcracker with two shows at 4 and 8 p.m. More Information

Outback Bowl Beach Day

December 30, 2015
Hilton Clearwater Beach, 400 Mandalay Ave.
11:00 a.m. – 04:00 p.m.

Join the teams, their marching bands and cheerleaders as they enjoy the sun and beaches at the Hilton Clearwater Beach next to Pier 60. This fun day includes live music, skydivers, a tug-of-war and other contests from 11 a.m. to 4 p.m. After Beach Day, stick around for Sunsets at Pier 60 featuring artisans, music and more while you watch the sunset on the Gulf of Mexico. The event is free.

Light it Up Clearwater Beach NYE 2016

Pier 60
December 31, 2015
9:00 p.m.

The Light it Up Clearwater Beach New Year’s Eve 2016 celebration will feature Fireworks at Midnight and an evening fun for the family with restaurants, shops and activities throughout the beach. More Information

Pinellas County Real Estate Holds Strong for 2015

Pinellas County Real Estate Statistics for September 2015

Pinellas County real estate holds strong for 2015, even as the typically slower months approach.

Average sale price for a single family home was $256,543 in September 2015, up 15.1% from last September.
The average sale price for townhome/condo was $189,862, up 1% from $187,954 a year ago.
The number of closed sales for single family and townhome/condo combined for September 2015 was 1,863, up 13.8% from 1,637 in September 2014, and down just slightly from August 2015 (1,888).

Median sale price for single family was $190,000, a huge 15.2% increase over $165,000 last September. For the townhome/condo segment, median sales price was $120,000, up 9.1% over a year ago. Median days on market was also a bright spot, at 49 for single family (versus 50 last September), and 57 for townhome/condo (versus 63 last September).

Inventory remains low for single family, with a 3.4 month supply as compared to a 4.6 supply in September 2014. Active listings for single family and townhome/condo combined were 6,591, down 8.8% from 7,224 in September 2014. New listings are up 3.1%, at 2,204 versus 2,138 last September.

The Consumer Financial Protection Bureau’s (CFPB) new loan estimate and closing disclosure rules took effect October 3, with little fanfare. Experts are anticipating any issues that may arise presenting themselves in November, December and January.

Representing more than 6,000 members, the PINELLAS REALTOR® ORGANIZATION is one of the Tampa Bay area’s largest professional trade associations.

Pinellas Realtor Organization – November 2015

25th Annual Suncoast Jazz Classic

25th Annual Suncoast Jazz Classic
Friday, Saturday and Sunday – 11/20 – 11/22/2015

Location
Sheraton Sand Key and Marriott Sand Key

The festival provides opportunities for both professional musicians from all over the United States as well as aspiring young musicians from our community to perform and share their music with enthusiastic and very appreciative audiences.

Thursday, November 19, 2015

THURSDAY NIGHT VIP GALA

Exclusively for sponsors, benefactors and four day ticket holders.

6:00 PM Lobby Opens

6:45 PM Buffet

8-10:00 PM Music and festivities

FESTIVAL FAVORITES with Bob Draga, Bill Allred, Dave Tatrow, Jason Wanner, Ron Jones, Billy Pillucere and Pepper.

ROSIE O’GRADYS GOODTIME JAZZ with Bill Allred, Don Johnson, Dave Bennett, Jason Wanner, Ron Jones, and Billy Pillucere, featuring Miss Ruth Crews.

Special Events

Friday Poolside Parasol Parade

Saturday 18 piece BIG BAND afternoon & evening – check your schedule

Saturday FESTIVAL DIVAS in the afternoon

Saturday CLARINET CLAMBAKE

Sunday Morning GOSPEL

Dedicated TRAD venues both Friday and Saturday – Friday, Zorch’s at the Sheraton……. Saturday, Al Downing at the Marriott

Swing Dance Party – Friday night at the Sheraton – dance the night away

Two Jam Sessions led by Dr. Jim Gover, Naples Dixieland Jazz Band – Saturday & Sunday

AFTERGLOW on Sunday

5:30 PM – Rusty’s in the Sheraton

Buffet

Music from 7-9PM

Featuring Festival Favorites!

Bob Draga, Bill Allred, Dave Tatrow, Jason Wanner, Billy Pillucere, Ron Jones, Pepper

PLEASE MAKE RESERVATIONS DIRECTLY AT RUSTY’S (727) 593-6000 X 2023

http://www.suncoastjazzclassic.com/

http://www.suncoastjazzclassic.com/festival-schedule/

Breathtaking Harbor Views – 400 Island Way

Take A Tour —

Starboard Tower
400 Island Way, #1511
Clearwater Beach, Florida

Stunning Views. Magnificent Location.

Breathtaking water views from the private balcony and from every room in this magnificent 15th floor 2 Bedroom, 2 Bath condo on Island Estates overlooking Clearwater and the ICW. Beautiful Kitchen offers Kitchen-Aid Stainless Steel Appliances- Built-in and Hardwood floors, custom Mahogany cabinets & custom lighting. Both baths offer custom granite and marble flooring and granite countertops. Don’t miss this well-appointed home. Amenities include a tropical heated pool, an over sized spa, Tiki huts, Grills, fitness room, billiard room, Locker rooms with shower & saunas. On-site daytime management & night security guard. Great location with shops, restaurants and easy access to Clearwater beach and the Gulf of Mexico…Sold “As Is” with right to inspect.

Southwest Florida Buyers Paying Cash

Home buyers in Southwest Florida are still paying with cash at one of the fastest rates in the nation.

Of the 10 metro areas with the highest share of cash purchases in the first quarter, more than half were in Florida, according to real estate analyst Zillow.

Southwest Florida Buyers Paying Cash
“In Florida, cash is king,” Zillow said. ” At the end of the first quarter, seven of the top 10 metros with the highest share of home purchases made in cash were in Florida, up from six at the end of 2014.”

All 10 of the U.S. metro areas with the highest share of cash buyers were east of the Mississippi River, while cash buyers were less common in the western U.S.

“Homes in many eastern markets are generally less expensive than in their western counterparts, which can be conducive to more cash purchases,” Zillow said. “Cash purchases are also more likely to be made by investors and institutional buyers looking to buy many less-expensive homes all at once to convert into rental housing and/or flip as the market improves.”

In addition, the analyst noted, Florida’s judicial foreclosure process can be slow, extending the period when investors are buying discounted homes from lenders as they clear foreclosure.

Florida posted the second-highest share of cash sales in June, at 45.8 percent, behind only New York’s 47 percent, CoreLogic said.

The U.S. rate was 31.3 percent, down from 34 percent over the year.

“The cash sales share peaked in January 2011, when cash transactions made up 46.5 percent of total home sales nationally,” CoreLogic said. “Prior to the housing crisis, the cash sales share of total home sales averaged approximately 25 percent. If the cash sales share continues to fall at the same rate it did in June 2015, the share should hit 25 percent by mid-2017.”

Jim Quinn, president of the Port Charlotte-North Port-Punta Gorda Association of Realtors, said cash sales have “consistently” accounted for less than 50 percent of activity this year, with distressed properties representing a smaller segment of sales.

“I would say both of these trends are indicative that more of the buyers are purchasing for personal use as opposed to investment,” he said.

No-financing sales accounted for 43 percent of home deals throughout Florida in August, while the U.S. average was 24.5 percent.

Herald Tribune 10/5/2015

Pinellas County Real Estate Statistics for August 2015

After several months of record sales and a blistering seller’s market, statistics in many areas have cooled significantly.

Average sale price for a single family home was $234,647 in August 2015, down 2.8% from last August.
The average sale price for townhome/condo was $187,683, down 1% from $189,528 a year ago.
The number of cash sales is the lowest since January, at 833 for single family and townhome/condo combined. Median sales price for single family was $181,399, a 6.7% increase over last August.
For the townhome/condo segment, median sales price was $135,500, up 13% over a year ago.
Median days on market was also a bright spot, at 47 for single family (down 13% from last August), and 65 for townhome/condo (down 11% from last August).
Inventory is even lower than last month, dropping from 3.9 months to 3.6 months supply.

August 2015 active listings for single family and town home/condo combined were 6,742, the lowest since January 2013, when the count was 6,169. New listings are the lowest they have been since December 2014, at 2,239 versus 1,887 last December.

The lack of inventory continues to be a huge part of the Pinellas County real estate story. The total sold units for single family and townhome/condo combined in August 2015 was 1,888, down significantly from the 2,123 sold in July 2015. In fact, this is the lowest number of sold units since February.

Year-over-year closed sale stats for single family and townhome/condo combined were 12.4% higher this August than a year ago, but almost 50% lower when compared with the 24.2% increase for July 2015 over July 2014.

With the Consumer Financial Protection Bureau’s (CFPB) new loan estimate and closing disclosure rules taking effect October 3, we will be watching closely to see how it impacts the market, particularly the number of closed sales.