New Homes | New Construction: A Real Estate Option Worth Review

In today’s real estate market many industry professionals are dealing with the lowest level of housing inventory in many years to show their ready and anxious home buyers.

On both a national level and locally in Tampa Bay, we have experienced the effects of the dwindling inventory as it relates to real estate options. We are frequently encountering multiple offer scenarios and bidding wars between buyers and sellers requesting highest and best offer. 

New home construction is gaining tremendous momentum and offers home buyers enormous options and appeal. Various areas of Tampa, Florida are on the right side of this opportunity.  We have always enjoyed the benefits of newly developing communities, new home starts, and luxury of turning to new homes as viable options for our home buyers.

The U.S. census reported that about 36.5 million people moved into a new home in 2012! The demand for homes in Tampa, Florida is clearly up and mounting. Last year concluded on a high note for most national home builders. Building permits are up about 12% from last year and builder confidence is higher than it has been in four years!

New construction homes are continuing to receive more notice this year as well.  So much so, that the CEO of national home builder K-Hovnanian was quoted in a recent business interview saying, “We can’t build homes fast enough.” Real estate agents and homebuilder sales associates are working more closely together in order to satisfy clients and close transactions. A new website designed specifically to make new home buying easier is being utilized for the benefit of all parties involved in a home purchase. BuildersUpdate.com  allows prospective homebuyers to search for new homes through their agents websites. Being that new homes are rarely advertised on the MLS, this gives agents and homebuyer a chance to see this inventory that is now or will be coming soon!  The websites goal is to increase the number of homes shown to new homebuyers and incorporate them into the real estate sales agents showing list.

Tampa, Florida has seen an increase in real estate prices for newly constructed homes.  In some Tampa areas new home prices have risen upward to $30,000. New homes have countless benefits such as a builder’s warranties, energy star certification, some closing cost assistance to buyers, and other incentives. If you are interested in exploring new home communities in Tampa Bay, call today before prices and mortgage rates rise.

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Multiple Offers: Commonplace in Today’s Real Estate Market

In many cities across the nation, and especially here in Tampa, Florida, we have seen a dramatic increase in multiple offer scenarios in our real estate market. This is of course a seller’s dream and somewhat of a “price is right” guessing game for home buyers and their real estate agents. However, this shouldn’t be viewed as a negative occurrence for either side of the transaction.

For sellers, having the option to consider multiple offers at various price points had been a thing of the past. This year, it is finally becoming more and more prevalent in our real estate market. An article published by Inman News identifies that most cities that are in real estate recovery (or beyond!), like Tampa, are seeing bidding wars on homes prices in all price ranges. This has nothing whatsoever to do with distressed homes. Other advantages of multiple offers for sellers include: generally quicker sales, less home disruption due to showings, and a “safety net” for the seller is created in case an offer falls through.

Now the story doesn’t exactly read the same for buyers who are in a real estate arena where inventory is low and multiple offers are more common. The thing that many home buyers have to keep in mind is that the market is changing and that their offers have to change with it. An article published by Inman News stated that “money is cheap” and buyers who were once fence sitters, are beginning to step up to the plate and seriously begin the purchase process. With mortgage rates remaining at an all time low, more and more consumers are entering the market and competing for the same few homes for sale. Gone are the days when you can offer 10K under listing price, wait a few days, and hear back with an accepted offer. Many real estate professionals say swift acting, ready buyers have an advantage in a low inventory market, such as Tampa, Florida.

Whether you are on one side or the other, multiple listings are not always a bad thing. Both sides can see significant benefits if they are represented professionally. If you wish to discuss your real estate goals and how to take advantage of this ever changing real estate market, calls SI Real Estate today and at least start the discussion.

SI Real Estate offers highly personalized, multilingual, full-spectrum real estate purchase and sales services. We are a boutique for sophisticated investors, select owners or renters who may be upgrading locally, or those making traditional relocations. We also provide turnkey landlord and tenant management. Blending comprehensive insight into the Tampa Bay area with international perspectives for a worldwide clientele, we like to think that “SI Real Estate is Global Real Estate in Every Way!”

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Real Estate Tips: Buyers Agent for New Construction

Buying a new home can be very exciting, it is important that still being a savvy buyer while getting what you want in your new home. One of the most overlooked factors in a new home purchase is buyer representation. Although many builders are great and have great new homes sales consultants, as a buyer you need to have your own personal advocate and representative! Before viewing new construction homes and reviewing options, it is prudent to speak to a local agent who is familiar with the process and the area.

The prime example of real estate buyers seeking to go it alone is on new construction. Builders make it so convenient and easy to walk into a new community and get set up for your new home. Why would anyone consider having a buyer’s agent with them when viewing new construction? The following represent a few examples of your benefits:

Free Representation

The most important factor for any buyer having a designated agent is representation. This professional is your expert in the marketplace working to help you achieve your goals with having your best interest at heart. For most buyers this is completely free to you. Builders, all sellers, designate a commission right into their sales price; they do not negotiate that price down for new buyers who do not have a buyer’s agent. Would it bring you more comfort having someone in your corner at showings, contract negotiations, incentives from seller to buyer, final walk-thru and closing? I think so! Please be a savvy buyer and contact a buyer’s agent who is familiar with the area and procedures of new construction.

Increased Negotiation

The base price on newly constructed home is one the builders are not going to negotiate on, however most builders are willing to make some upgrades or changes to suit the new homeowner. Here at SI Real Estate our experience has shown us that you can get more by having an experienced agent at your side:

Our of our agents, Katie Crider, was able to negotiate all new flooring on a move-in ready home. They actually pulled up already installed carpet and laid down tile throughout the floor. Another client had all new fans and light fixtures added for no additional cost.

The key is having an agent familiar with what a builder is willing to negotiate on and have them negotiate the contract with you. Our Broker, Nibal Elsaadi, also has had great success with new construction lately. Buyers want to have modern and guaranteed homes. You cannot beat walking into a new home and giving the client exactly what they are looking for. Nibal was able to get one client over $22,000 worth of upgrades for just cost to the builder. It is also very common that he negotiates in closing costs, HOA fees for the first six months, or full appliance packages.

If you are exploring the idea of purchasing any home, again you should have a buyer’s agent! If you are looking to start looking into whether you can afford to purchase a home or have already been prequalified, please contact one of our agents at SI Real Estate. We can be reached at 813.631.5144 or email us at Yourhome@sirealestateinvestments.com. We understand the importance of integrity, hard work, and maintaining clients’ satisfaction.

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Real Estate Tips: Be a Savvy Buyer

In 2011, real estate remains a true buyer’s market. In Tampa, prices are the lowest in the last decade and interest rates at historic lows, now is the time to purchase real estate. Whether it is your dream home, a vacation home, or an investment property you need to make sure you are looking at the big picture. Buyers now more than ever need to be savvy to recognize the good value when they see it.


Realty Times just published an article this week, “Savvy Buyers Know Value When They See It”. In this PJ Wade, compiles a list that all buyers should review before their next real estate purchase. She reminds all buyers that you do not need to approve of a sellers color scheme or décor, rather look beyond superficial things to the bones of a home. To help keep you on track during your purchase remember this important tips.

Be prepared if the first showing is the right place

Most buyers are anticipating the first house to not meet their expectations. If you go into the first house and it is what you are looking for, don’t wait too long to put in an offer. The good properties go quick if you delay two weeks to see other properties just for comparison, you may miss your opportunity completely. Be prepared before you start view real estate listings to know exactly what you want and be prepared to act right away.

Experience the property

The goal is a real estate showing is not just for you to take a quick glance from each doorway. You need to step inside each room, get a feel for it, and move around. See if the space is adequate for the furnishings you prepare to put in it. Real Estate is a large investment, make sure you are getting a true perspective in if this is the right property for you or not.

Don’t consider just the property alone, surrounding neighborhoods is key

No property is completely alone in a certain area of town. You cannot make a wise decision on a real estate choice until you have seen the surrounding neighbors and community. Most real estate professionals will instruct you to drive around, check on sources of noise (parks, schools, development. Make sure you will be happy knowing all the information you experience in the community. Check on zoning if you intend to have a home business for instance.

Get all the knowledge you need before making an offer

Sit down with your real estate agent and ask some important questions. Look up taxes, utility costs, and sales history. Get an idea of what to expect before you make an offer. This is a very important step that may get rushed over when you get excited about your new home. Be diligent, after the sale is complete this will help counteract any potential buyers remorse.

Don’t just look for a “dream house”, be realistic

All of these steps lead to one conclusion-be realistic! The excitement of your new home may inflate your expectations of the real estate market and what you can afford. Please savvy, know a good value when you see it, and be smart about the research you conduct before making an offer. You are not expected to be an expert on real estate, do not try and do all the work yourself. Have a licensed real estate agent you can trust in your corner to help you make the best purchase.

If you are looking for more tips on being a savvy buyer, or to find a trustworthy real estate agent to help you navigate through the buying process call SI Real Estate at 813.631.5144 or email us at Yourhome@SIRealEstateInvestments.com.

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Real Estate Essentials: Choosing the Right Location

When undertaking the experience of purchasing a home, there are lots of important decisions to make. For instance, if you want a detached home or a community lifestyle, how many rooms, what are you willing to spend? The first and most important question any buyer or investor should ask is what locality do I want to be in.


You hear real estate professionals stress this factor often, location, location, location! It truly is the single most important factor on any real estate purchase. If you put the exact same house on two different lots in different areas of town, they will hold different values. How do you decide what vicinity is the best for you?

Economic Factors

Does this city have a high percentage of unemployment? Are there a large number of foreclosures? This is a shaky topic for a lot of Americans right now. Many people have unfortunately been let go of their jobs and are forced to default on loans and are not finding work easily. However if an area’s unemployment rate is increasing, that means more people are struggling and home values decrease with them. Foreclosures have a direct impact on comparatives sales in an area used to appraise your homes value. When looking for a new home, examine these factors and ask a real estate professional to help you compile past data to support your home buying decision.

Education

School systems are always important to consider. If you already have children or plan to in the future, the explanation is not needed, you want the best education for your kids. Even if you don’t use the school system, they can affect your sales potential when you go to resell, always keep this in mind when viewing real estate.

Condition of Homes and Businesses

It is very important to examine the surrounding homes, businesses, and overall condition on surrounding area. This is a time to see yard maintenance of neighbors (this will affect home values), back streets and alleys, and also look for empty businesses in the area. All of these factors reflect the health of the neighborhood. Real estate values are subject to all the factors of a given area and appearance plays a big role!

Entertainment and Recreation

What entertainment options are important to you? Do you want to be near parks and reservation areas? Is shopping and restaurants a high priority to you? Do you enjoy the arts culture? All of these questions might seem minor compared to previous factors to define a district but in the long term, they will be a blessing or a curse depending on what you prefer to do in your spare time.

Here in Tampa Florida, SI Real Estate has experts in the local community. He can highlight some of the best areas for your desired needs and budget. We encourage you to look at New Tampa or Brandon and Riverview for some high demand communities. SI Real Estate utilizes our vast real estate experience and extensive Tampa Bay area knowledge to meet the needs of buyers, sellers, investors, landlords, tenants, and relocations. Contact SI Real Estate today to find your perfect location at (813)631-5144 or email us at Yourhome@SIRealEstateInvestments.com.

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Tampa Real Estate Sales Still Rising

Although there has been a high number of a sale in the Tampa Bay real estate market the last couple of months, the industry is sending some mixed signals. What is happening in our changing market?

According to The Tampa Tribune, “Homes sales are climbing, up 16 percent from a year ago and 24 percent from last month”. However since there is such a high number of bank owned and distressed properties, the median sale price is only $111,100.

Of the 2,375 real estate sales in Tampa in February 2011, a large majority were bought by investors. They see properties in distress, prices continuing to decline and investors are cashing in.

The spring selling season is around the corner however, and projections are expecting more traditional homebuyers to start jumping in. Most first time and repeat homebuyers are not interested in the distressed properties. They start off looking at the price tag, but are not prepared to deal with the challenges once viewing the property. They see the value in finding a home that is ready for them to enjoy immediately. New construction home sales are up and with the new selling season, median sales price is expected to increase.

All of these statistics are causing one more interesting trend in Florida, real estate sales agents are increasing. According to The Orlando Sentinel, After a slump in the real estate market in mid-2007, the pool of real estate professionals has dropped more than 13%, however Since the beginning of 2011, the numbers have been edging back up, it is predicted that 268,257 registered brokers and agents were active in Florida’s real estate market by the end of February 2011.

With homes sales rising, positive projections of buyers confidence in purchasing real estate again, and professionals confidence in real estate careers, Tampa bay may be shaping up for some market improvements. Now is your time to move forward.

SI Real Estate works with Buyers, Sellers, and Investors to get the most out of the Tampa real estate market. Call us today at 813.631.5144 or email us at YourHome@SIRealEstateInvestments.com.

SI Real Estate is also looking for qualified agents, whether you have 20 years experience or just received your license. Contact our office to start your real estate career with SI Real Estate. You will see that we are “Global Real Estate in Every Way”.

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Tampa Real Estate Trends for Buyers/Sellers

The Real estate market is still changing. Homes are selling every day however, buyers have changed their expectations. Keeping you informed on what to expect when buying or selling a property in today’s market.


1. Buyers are opting for smaller homes

Constraints on housing market really have made buyers reevaluate what is necessary in their next home purchase. A study conducted by the National Association of Home Builders (NAHB) reveals that homes are expected to be ten percent smaller in the next couple of years. “To save on square footage, the living room is high on the endangered list-52 percent of builders expect it to merge with other spaces in the home by 2015 and 30 percent said it would vanish entirely.”

2. Heavy influence on purchase decisions can be swayed in favor of green and eco friendly properties

The NAHB reports that not only floor plans are changing. “68 percent of builders are including green and eco-friendly features by 2015. This includes low-E windows, engineered wood beams, water-efficient feature and energy star rating throughout.”

3. Curb Appeal is still very influential in the buyers’ willingness to buy their new home

The National Association of Realtors reports, “49 percent of buying decisions are based on curb appeal” in a normal market. Even in times of foreclosures and short sales, buyers judge whether to view a property or not by the curb appeal. Curb appeal doesn’t just affect the property being sold either; a buyer looks at the neighborhood as a whole. Improving curb appeal can be as simple as removing some weeds, retouching paint, or simply asking a neighbor to straighten their yard if you are on good terms. It may make the difference in whether you get a buyers attention or they move on the next real estate listing.

It is important as a buyer, seller, relocation, or investor to know what trends affect your real estate decision. To get in contact with a real estate expert in Tampa, Florida call SI Real Estate at (813)631-5144 or email us at YourHome@SIRealEstateInvestments.com.

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Tampa Real Estate Market is Moving, SI Real Estate Seeks New Agent

Over the last couple of weeks, SI Real Estate has been posting updates on what we see in the Tampa real estate market. We have shown trends of Housing Affordability being the highest in 20 years, we have discussed that Tampa, Florida is one of the most searched real estate markets online, and the large increase in Purchases and Multiple offer competitions in the Market. All of this adds up to the conclusion the market is changing and we want to be ready for it. SI Real Estate is front and center in the Tampa Bay real estate market we are seeking some new real estate agents to join our team.

SI Real Estate, Tampa is your full-service real estate boutique that assists buyers, sellers, relocations, and investors with their real estate needs. We maintain an entrepreneurial spirit with a relaxed, yet serious and productive environment. We are a team of talented professionals with experience, drive and motivation. Our reputation and client rapport is renowned for unique quality and personalization. With tremendous competition, we stand out in a crowded world.

SI Real Estate has a marketing program which over-performs, hence providing us with an abundance of qualified leads. The opportunities are limitless for motivated agents seeking challenge and change.

We are looking for licensed real estate agents in The Tampa Bay area who already have experience in the real estate industry who can join our dynamic team. Individuals who are currently working on or have recently acquired their sales associate real estate license are also encouraged to contact us. We can offer strategic planning and comprehensive training for those candidates motivated to learn and grow professionally.

Please contact us to arrange a meeting (813) 631-5144 or submit resumes to: mailto:Pamela@SIRealEstateInvestments.com

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The Affordability of Housing Reaches a 20-Year Peak

We all know that the housing market has had some challenges in the last couple of years. As the real estate market starts to even out, housing affordability is higher than recorded in over twenty years. This means middle income families can comfortably afford to purchase their own home.

The National Association of Home Builder/Wells Fargo records a Housing Opportunity Index (HOI) every year. This index compares the median income of families in a specified area compared to the income needed to comfortably afford a home purchase. This year they report, “73.9 percent of all new and existing homes sold in the fourth quarter of 2010 were affordable to families earning the national median income of $64,400.” This statistic is significant because it is the highest percentage on record since they started collecting this data in 1991.

How does this compare to the Tampa Bay market? The HOI in Tampa is 78.2% in the fourth quarter of 2010, with a median income of $59,400. The Tampa real estate market is opening opportunities for more people to become homeowners.

Housing affordability is not the only good news. According to the Mortgage Bankers Association, “Mortgage applications increased 13.2 percent from one week earlier” Interest rates are still very low, and buyer confidence is increasing. Buyers are looking for their next property and sellers are should be ready to help.

SI Real Estate is in the mix of all the Real Estate Market’s changes. We work with buyers, sellers, relocations, and investors to learn what trends are taking place in the Tampa real estate market. If you would like advice from Tampa Bay real estate experts call us today at (813)631-5144.

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SI Real Estate Has Its Finger on the Pulse of the Real Estate Market in Tampa Bay

Pulse 1 ~The Buyers Real Estate Market


Local, national and international buyers are purchasing real estate here in the Tampa Bay area and around Florida like there is no tomorrow. The real estate market is booming with sales. Real estate prices are fantastic, mortgage interest rates are great, and people are taking advantage of the opportunities that are available.

At this point in time, it is becoming more the norm to have multiple offers on properties for sale, indicative of the swarm of buyers into our real estate marketplace in Tampa Bay. First-time home buyers, along with move-up or repeat home buyers, and local and international investors are all jumping in with both feet to get their piece of the action during these unprecedented times.

Pulse 2 ~The Real Estate Rental Market

In an article titled, Cheaper to Buy Than to Rent in 72% of Largest U.S. Cities by Inman News dated January 24, 2011, “Despite the rising number of renters across the country, it is cheaper to buy a home rather than rent one in 72 percent of the 50 largest cities in the U.S., according to an index released by real estate search and marketing site Trulia.”

There has been a large influx of people entering the rental market due to the economic downturn. Prices are rising for rentals as a result. The economics of supply and demand are taking affect. Pete Flint who is the CEO and co-founder of Trulia stated, “Since the start of the 'Great Recession,' many former homeowners have flooded the rental market. Following the principles of supply and demand, renting has become relatively more expensive than buying in most markets."

The article continued to say that it is less expensive to buy a two-bedroom home than to rent one in 36 out of 50 of the country's most populous cities. Interestingly, some of the cities include many areas that have been hit hard by foreclosures, such as Las Vegas, Phoenix and California.

Pulse 3 ~ The Sellers Real Estate Market

Although we are in a strong buyer’s market, sellers of real estate are also witnessing strong interest in their properties. Multiple offers are being made on many properties which lead to bidding wars and helps increase the price of homes, townhomes and condominiums that are on the market.

With all of the talk about it being a “buyer’s market” not as much has been said about the direct affect on the “seller’s market”. In an article titled, Home Price Stabilization Seen in Most Metro Areas during Fourth Quarter, Sales Up, Lawrence Yun, NAR chief economist, stated he is encouraged by the trend. “Home sales clearly recovered in the latter part of 2010 and are helping to absorb the inventory, including many distressed properties. Even with foreclosures continuing to enter the inventory pipeline, they’ve been selling well and housing supplies have trended down,” he said. “A recovery to normalcy requires steady trimming of the inventories.”

With buyer’s feverishly grabbing up real estate, inventory is being reduced leading the way to recovery in the real estate market and the overall economic health of this country.

Pulse 4 ~ SI Real Estate is Working in All Aspects of the Real Estate Market

SI Real Estate works in all aspects of the Tampa Bay area real estate market and truly feels the pulse of this marketplace. With expertise in buyer and seller representation, property management, bank owned/REO and short sale property acquisition and sales, finding a company more diverse in its offerings will be hard to find. Combine our real estate expertise with our superior customer service, as evidenced by our loyal client base, and you won’t want or need to look any further for your real estate company. Call SI Real Estate at (813)631-5144 today and put your finger on the pulse of the real estate market right here in Tampa, Florida. It is an exciting time to be in real estate!!!

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SI Real Estate Wishes You a Happy New Year!

2010 has been an exciting year for the real estate market in the Tampa Bay area. SI Real Estate has reported the year’s real estate events on our weekly blog to keep our readers abreast of our ever changing real estate market. Major notable factors in the real estate market came into play producing a fast paced year of sales. The extension of the 2009 First Time Home Buyers Tax Credit into 2010 fueled the market for the first portion of the year. REO (bank owned) properties sold just as quickly as they came on the market, many seeing multiple offer situations. A huge influx of foreign investors getting into the real estate action here in Tampa and in many places across the country caused an interesting adjustment to the home buyer pool. Interest rates hovered at near record lows for the entire year. Wow! No wonder the year went by so fast.

SI Real Estate hopes you have had a prosperous year, and looks forward to continuing to report Tampa Bay’s real estate news and events to you in 2011.

Happy New Year to our friends, families, colleagues and clients. Be safe, be at peace. May 2011 be your best year yet!

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Foreign Investors Not Scared of Housing Market At All

The word is out…real estate in Tampa Bay and around Florida is a hot commodity for foreign investors! Not only is the weather hot in Tampa, Florida, so is the real estate market. International investors from Argentina, Canada, Colombia, France, Israel, Italy, Norway and Venezuala are swarming to Florida for what they see as irresistible real estate deals.

According to msnbc.com’s recent article, Foreign Investors Not Scared of Housing Market, “For the international investor class, the United States’ bloated inventory of homes, high unemployment and weak currency make for an unusually attractive buyer’s market.”

Peter Zalewski, founder of Condo Vultures, a consulting and brokerage firm stated, “I have never seen such a high concentration of foreign nationals acquiring real estate. Eighty percent of the sales in downtown Miami are foreign-based. This is unprecedented.” And Miami is not the only “hot spot” for international real estate investors. Surges have been seen in Tampa, Washington, New York, Las Vegas, Los Angeles and San Francisco.

A recent National Association of Realtors report points to this trend as well. 28 percent of brokers reported they had worked with at least one international client, up from 23 percent a year ago. Among these, 18 percent had completed at least one sale, compared with 12 percent in the 2009 report.

These international investors are choosing to invest in real estate rather than in the stock market. The math is easy and seductive for foreign investors who pay with cash as there deals start making money for them right away. Interestingly, due to the fire sale prices in the United States, real estate is now within the reach of the global upper-middle class, and no longer just for the wealthiest of investors.

The reduction in inventory is a very positive outcome for our real estate market as it will ultimately aid in the overall stabilization of the economy. “It’s a positive in a sea of negatives,” says Jonathan Miller, chief executive of Miller Samuel, a real estate consulting firm in New York.

To learn more about how international real estate investing or to become one of those taking advantage of a fantastic buyer’s market, please call SI Real Estate today. SI Real Estate is “Global Real Estate in Every Way!”

Call us at (813) 631-5144

Email us at YourHome@SIRealEstateInvestments.com

Visit our website at www.SIRealEstateInvestments.com

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