Towers of Channelside Construction Update

Tampa, Fl May 22, 2007. If you are looking for the latest update of the completion dates for the Towers of Channelside, a twin 29 story complex that is being build in Channelside you have come to the right place. The Towers of Channelside are twin 29 story towers located directly across from the Channelside Entertainment District. You have probably watched them grow daily and noticed that they are nearly complete. According to the Towers of Channelside Sales Manager, Tower 2 (the tower that is closest to the parking garage) is scheduled to be completed sometime in July 2007 and closings are planned to start that month as well. Tower 1 is scheduled to be completed in September or October 2007. The Towers of Channelside has advanced high-speed connections, forward thinking architecture, and progressive home systems. The Towers of Channelside have created a complete living environment offering comfort and flexibility for anyone looking for the best in Tampa Bay. The Channelside district is also home to some of Tampa's most coveted professional sports teams, including the Tampa Bay Lightening Hockey team and the Tampa Bay Storm Arena Football team. The Towers of Channelside has definitely changed Tampa emerging and growing skyline. If you are buying or selling your Towers of Channelside condo please call Tom Burkett at 727.278.8062 or visit him online at http://www.tomburkett.com/. To receive the lastest updates on any of the Tampa bay area construction developments please subscribe to insidetampabayrealestate.blogspot.com.

Tampa, Fl May 21, 2007. I would like to introduce you to one of the best Lounges in the Tampa Bay area. The Rack. If you haven't already discovered the Rack this gem located 1809 W. Platt St. you need to put it on the top of your to do list. Where else can you go and order chicken wings and Sushi at the same place. The Sushi at The Rack is some of the best in town and I've been everywhere in my search for the best. There is always a hip crowd and the staff is always friendly and fast. You can shoot darts,play pool, watch the latest sporting event on one of many plasma's located throuthout or just dine on a wide variety of cusine. They also have some new sushi rolls to try out. The best nights to go to the Rack are Thursday and Friday's although any night is good if you enjoy eating great tasting food. The Rack is one of my favorite places to go in South Tampa and if you go I think it will become yours as well. For more information of the Rack go to their web site at www.hittherack.com or call 813-250-1595.

Florida Property Tax Reform Update

Tampa, Fl May 18,2007. While a House-Senate committee discussing Florida property taxes has not reached any conclusions, negotiators said yesterday they’ve tentatively agreed on a method to use – expand existing exemptions, such as homestead, and create new ones for non-homesteaded properties.

Read the full story:

http://www.floridarealtors.org/NewsAndEvents/n1-051707.cfm

Florida New Construction Update

Tampa, Fl May 17,2007. Construction of new U.S. homes posted a 2.5 percent gain in April compared to one month earlier, but applications for building permits plunged by the largest amount in 17 years. Year-to-year, construction was off by 25.9 percent.

Read the full story:

http://www.floridarealtors.org/NewsAndEvents/n4-051607.cfm

CITIZENS PROPERTY INSURANCE RATE UPDATE

Tampa, Fl May 8th 2007

Citizens Property Insurance Corp. was always referred to “Florida’s insurer of last resort” . But no more. A just-passed bill’s key provision expands Citizens’ operations and allows it to compete with private insurers. And those currently insured won’t have a rate increase at least until 2009.
Read the full story:
http://www.floridarealtors.org/NewsAndEvents/n2-050707.cfm

May 8th 2007, Tampa, Fl.
Remember a few years ago when everywhere you went you would hear people talking about all the Real Estate deals they were making money on and about how excited they are about their next deal? Well, today if you listen you hear people talking about what on earth am I going to do with all this Real Estate. As a Realtor and Real Estate investor myself, I'm facing the same questions. Realtor's should step up to the plate and give solid advice to thier clients thinking about walking away from deposits or how to manage being stuck in a property with either negative or no cash flow. Sure, we stand to lose some immediate commissions if the right thing to do is to walk away from the deposit and not close but if handled correctly we could also gain the loyality of a life long client.
One of the best ways to help investors stay afloat in this market is to generate income from vacant properties. Vacant Properties don't sell as fast and usually sell for a lower price. So, I suggest investors put a little money in painting the house with warm colors and furnishing the property. Then offer the home on a short term rental basis. The home will show better with furniture and furnished short term rentals are in demand right now. Also, when the home is decorated and furnished it makes it an easier tenant transition because they can move right in and out without having to move alot of furniture. How do you decide if you should spend the money to decorate and furnish the home? Just calculate the average days on market in your area and times that by your monthly carrying cost to arrive at an amount that you would spend if the home doesn't sell. Then take that money and furnish the home. This will allow you to weather the slow market and ease the negative cash flow if the home goes unsold after six months and beyond. The bonus is that you can also use the property when it is vacant for a vacation home or barter it to business cleints and or friends. Went it comes time to sell the home you can also recapture some of your furniture investment with a higher price by selling the home fully furnished and move in ready. This might not be the best fit for every investment property but it is definitely something one should look at, especially if the investment home is located in or near a vacation destination or is a condo.

Waterchase Real Estate Report for 5/2007

As of 5/1/07 there are 52 Single Family homes for sale in Waterchase ranging from $379,900 for a 2135sq.ft home to $1,599,900 for a custom Marc Rutenberg home that is 4935 sq.ft. The avg. listing price per sq.ft is $215/sq.ft. down from $220 in March 2007 and the avg. days on market(DOM) is 118 up from 112 days in March 2007. So your avg. Waterchase home is 3,171 sq.ft in size and lists for $683,302and is a 4/3/3. That amount is $14,466 less than the $697,768 avg. price back in March 2007 which is a decrease of 2%. Today, I will give you a run down on Mar Azul, Allicante and Savona. Mar Azul- There are currently 8 listings down from 10 in March and ranging from $873,900 for a 3942 sq.ft home to $1,599,900for 4935 sq.ft. home with DOM currently at 141 up sharply from 108 in March. The avg. house in listed at $271 sq.ft. down from $281 sq.ft. and has an avg. price of $1,088,852 which is down from $1,121,991 in March. Alicante - There are currently 7 listings which is unchanged from March and ranges from $719,900 for a 2993 sq.ft home to $989,900 for 3932 sq.ft. home with DOM 80 which is up from March's 54 DOM and listing for an avg. of $253 sq.ft. or an avg. price of $870,215. Savona - There are currently 7 listings down from 10 in March 2007, ranging from $449,900 for a 2438 sq.ft home to $749,900 for a 3926 sq.ft. home with DOM currently at 159 up from the 115 DOM in March 2007 and listing for an avg. of $199 sq.ft. up slightly from $196 or an avg. price of $611,071. For more info about Tampa Bay area Real Estate.