Realtor - Tampa Bay, FL
Nancy Rodda, PA
813-331-5521813-331-5521

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Pending Home Sales at 10 Year High

May 27th, 2016 by Nancy Rodda, PA

Interesting and relatable article released by NAR and Florida Realtors:

“Pending home sales rose for the third consecutive month in April and reached their highest level in over a decade, according to the National Association of Realtors® (NAR).

All major regions saw gains in contract activity last month except for the Midwest, which saw a meager decline.

The Pending Home Sales Index – a forward-looking indicator based on contract signings for homes that have not yet sold – hiked 5.1 percent higher to 116.3 in April from an upwardly revised 110.7 in March. Year-to-year, it’s 4.6 percent above April 2015 (111.2).

After last month’s gain, the index has now increased year-over-year for 20 consecutive months. Vast gains in the South and West propelled April’s pending sales in April to its highest level since February 2006 (117.4), says Lawrence Yun, NAR chief economist.

“The ability to sign a contract on a home is slightly exceeding expectations this spring, even with the affordability stresses and inventory squeezes affecting buyers in a number of markets,” Yun says. “The building momentum from the over 14 million jobs created since 2010 and the prospect of facing higher rents and mortgage rates down the road appear to be bringing more interested buyers into the market.”

Mortgage rates have remained below 4 percent in 16 of the past 17 months, but Yun says it remains to be seen how long they will stay this low. Along with rent growth, rising gas prices – and the fading effects of last year’s cheap oil on consumer prices – could edge up inflation and push rates higher. For now, Yun foresees mortgage rates continuing to hover around 4 percent in coming months, but inflation could potentially surprise the market and cause rates to increase suddenly.

“Even if rates rise soon, sales have legs for further expansion this summer if housing supply increases enough to give buyers an adequate number of affordable choices during their search,” adds. Yun.

Following the housing market’s best first quarter of existing-sales since 2007 (5.66 million) and a decent increase (1.7 percent) in April, Yun expects sales this year to climb above earlier estimates and be around 5.41 million – a 3.0 percent boost from 2015. After accelerating to 6.8 percent a year ago, national median existing-home price growth is forecast to slightly moderate to between 4 and 5 percent.

Pending sales in the Northeast climbed 1.2 percent to 98.2 in April, and are now 10.1 percent above a year ago. In the Midwest, the index declined slightly (0.6 percent) to 112.9 in April, but it’s still 2.0 percent above April 2015.

Pending home sales in the South jumped 6.8 percent to an index of 133.9 in April – 5.1 percent higher than last April. The index in the West soared 11.4 percent in April to 106.2, and it’s now 2.8 percent above a year ago. “

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Shipping Container Homes

March 29th, 2016 by Nancy Rodda, PA

In recent months, it is hard not to notice the Modern Design movement happening throughout Tampa BaySunDogPic in both commercial and residential applications. The Tampa Museum of Art is a stunning embodiment of a Modern Architecture right here in Downtown Tampa. There is a new movement that is bringing modern design to a new level with some “inside the box” thinking and the use of shipping containers to create the ultimate Live, Work, Play space. Next time your at the Amalie Arena, take some time to check out Ferg’s Live new bar and courtyard created from recycled shipping containers. In Pinellas Park, the Beax Arts Center has been transformed into an Artist Studio and 2 bedroom Loft, using 7 recycled shipping containers to make a sleek, modern and stylish Live, Work, Play space. The picture is a concept design for a Townhome project constructed from multiple shipping containers and centrally located in St. Petersburg just minutes away from both downtown and the beaches. With over 1,900 SF of open plan living, these luxurious homes are a game changer! Contact me for more information.

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Nancy Rodda reviews    Remodeling and Home Design

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Tampa/Hillsborough Market Report 2015

January 22nd, 2016 by Nancy Rodda, PA

According to a recent report detailing 15,915 Single Family Homes in Tampa/Hillsborough County that sold in 2015, 27% were all cash, 39% conventional, 17% FHA, and 10% VA. 11% were $0-$99K, 36% $100-$199K, 29% $200-$299K, 24% $300K-$999K and 1% over $1 million K. Over 60% of the market share sold in the $100-300K range.

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Nancy Rodda reviews    Remodeling and Home Design

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South Tampa Market Spotlight 33629, 33606, 33609

October 6th, 2015 by Nancy Rodda, PA

Of the 414 Active/Pending Single Family Home listings in Multiple Listing Service (MLS) between Kennedy and Euclid (33629, 33606, & 33609), only 7 are listed under $200K. The average Active/Pending pricing in this same area is $646,147 or $237 a Square Foot. Home buyers who still want all the convenience that South Tampa has to offer without the high price tag can find homes between Cypress and Kennedy selling for average of $205,000 or $139 a Square Foot. In fact, 11 new construction homes have been sold between 2014-2015 in this area…all with over 2,000 SF of heated living space and an average sale price of $357,731 or $164 a Square Foot. If you are an investor or a home buyer looking for a deal, I would definitely keep my eye on this part of 33609 in the coming year. This area is centrally located and in close proximity to shopping and dining. In addition, for those with high-school aged members in their household, parts of this area are currently zoned for the top rated Plant High School District.

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Nancy Rodda reviews    Remodeling and Home Design

It’s Good to Be the King/Queen. Sellers, Strike While the Iron is Hot! South Tampa 33629, the time is now!

September 3rd, 2015 by Nancy Rodda, PA

In Sunset Park, Bel Mar Shores, Palma Ceia (South Tampa Zip Code 33629), the year over year average total sold price increased 33.29% from June 2014-2015 from $474,668 to $632,681! 33.29%. Yes, that is not a typo, 33.29%. Can we sustain this type of growth? Only time will tell, but for now, it is great time to be a home owner in 33629!

Sales stats from all of Hillsborough County are not looking too shabby either…..and by not too shabby, I mean FANTASTIC! June 2014-2015 median sale price rose 12.6% year-over-year for Single Family Homes in Hillsborough County while median days on the market decreased 20.4% year over year (meaning homes are selling fast). Not too many investments can claim 12.6% year over year gains!

Maybe you bought at the peak of the market and have been waiting for the right time to sell? Maybe you bought at the bottom of the market and are thinking of trading up? In this seller’s market, there is no time like the present! With inventory low and demand high, a right priced, well marketed/staged, turn key property barely makes a debut on the market before going under contract with back-up contracts in tow.

Buyers, don’t get discouraged, in this market, you just need to know what you want and be ready to act when you find it. As I’ve mentioned before, sleeping on it may not be an option.

Thinking of selling? Just curious about what your home may be worth? Thinking of buying? Wondering what your monthly rent will buy you? Give me a call, I’m here for you. Nancy Rodda, PA REALTOR.

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Nancy Rodda reviews    Remodeling and Home Design

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PAY IT FORWARD

August 19th, 2015 by Nancy Rodda, PA

When I became a Realtor, I felt very strongly that as a local business owner, I wanted to give back to the local communities I live, work & sell in through donations to charitable causes, organizations & non-profits that support those in their hour of need. Thanks directly to some amazing buyers & sellers who have joined me at “the closing table” over the past year, I have been able to contribute to the SPCA, Shriner’s Hospital, Humane Society, Wounded Warrior Project, The Spring, Community Learning Center, local schools and two individuals facing a costly and debilitating medical crisis. With neither myself or the real estate market showing any sign of slowing down, I look forward to continuing to PAY IT FORWARD with you!

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Nancy Rodda reviews    Remodeling and Home Design

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Luxury Rental or Purchase?

August 7th, 2015 by Nancy Rodda, PA

Has anyone noticed the sky rocketing rent prices in Tampa Bay? If your looking to rent, I’m sure you have! While purchasing a home isn’t for everyone for a variety of reasons,  if you are on the fence regarding whether you should buy or rent in South Tampa from a basic monthly outlay stand point, have a look at this scenario:

2/2/1 South Tampa Luxury Townhome in the desireable SoHo district of Hyde Park

Rent: $2,500 a month *Comparable unit going rate

Buy: $2,007 a month. *Comparable unit sold for $370,000 in June 2015. With 20% down at prevailing rates, estimated monthly mortgage would be $1,370, Tax $437, HOA $200= $2,007 a month.

…Food for thought.

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Modern Home Movement Comes To South Tampa

August 7th, 2015 by Nancy Rodda, PA

Have you driven down El Prado Blvd in South Tampa recently? It is unmistakably becoming the premier location to showcase modern home design in the area with 8 new modern stunners built in just the past 2 years. A distinct departure from the more traditional & mediterranean designs typical for the area, these modern homes are bound to create a buzz in the local community. Modern design features include clean lines,  flat or unconventional roof lines, extensive use of glass with a focus on natural light, a mix of industrial and organic materials with an overall “less is more” minimalist feel aside from a playful pop of color at the entrance or whimsical sculpture in the yard. It is truly the yin-yang of design: a corrugated metal roof angling down over an exotic natural wood door,  a polished concrete entry  leading to  20 foot wall of glass overlooking a bamboo garden and koi pond.  And it works. Beautifully. I’m excited to see what comes next. Are you ready to build your MODERN DREAM HOME? I know just the location for you…

 

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The Challenges of a Seller’s Market in Greater Tampa Bay

June 29th, 2015 by Nancy Rodda, PA

Nancy-Rodda-Web-200-Width-bbb3dcAs a Seller’s Agent and Homeowner, it is exciting to see the significant year over year gains in home values and demand in our area following the devastating and rapid decline that occurred between 2006-2012. With turnkey homes in high demand areas (AKA GREATER TAMPA BAY) receiving multiple full price and over asking offers within a day of going active, Tampa Bay Buyers and Buyer’s Agents are feeling the pressure. Finding your dream home can be challenging enough, but loosing that home in a bidding war can be emotionally exhausting and even traumatizing for a buyer. As a Buyer’s Agent, it means that I must be ready and willing on a moment’s notice to show and write offers when that perfect home for my buyer comes on the market, because, in this market, scheduling within 24 hours is often just not good enough. I have heard an old adage in Real Estate that “the first offer is the best offer” and I have personally found this to be true.  As a Buyer’s Agent in this Seller’s market it is my goal to get my Buyer’s offer in front of the Seller first and without delay. This requires that my Buyers know, within certain tolerances,  exactly what they want and be ready to move when they find it. Unfortunately, more often than not, if the home is priced right and is truly turnkey,  “sleeping on it” means losing it. Written By Nancy Rodda, Realtor, NextHome Discovery

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Lake Bella Vista Pool Home in Citrus Park

April 23rd, 2015 by Nancy Rodda, PA

Update: SOLD…Multiple Offers & Under Contract after 3 days! Beautiful waterfront 3 bedroom 2 bath pool home in desirable Lake Bella Vista. Enter to find a spacious and inviting open plan living area highlighted by warm neutral tones, soaring vaulted ceilings and ample natural light. This home truly shows pride of ownership inside and out with impeccable maintenance and upgrades including: irrigation system, home alarm system, external key pad and remote garage entry, painted and sealed garage floor, water softener system, regular A/C maintenance and pest service, fresh interior and exterior paint. Easy access to the Veteran’s Expressway, Tampa International Airport, Westshore, International Plaza and Citrus Park Malls, shopping and dining close by. Welcome home!
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About Nancy Rodda

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Nancy Rodda, PA

REALTOR

nancy@closewithnancy.com

813-331-5521813-331-5521 office

REALTOR, Pineywoods Realty

Remodeling and Home Design

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