RESST A R.E.S.S.T. BLOG

02/22/2017

TRUE OR FALSE?

Real estate is a prolific profession. Everyone either knows a real estate agent, or is connected to one through six (probably less) degrees of separation. Between friends and relatives, and the stereotypical representation of real estate agents on television and in pop culture, the general public has a adopted some assumptions about agents that are very far from the truth.

Here are ten things that people assume about real estate agents that just aren’t true:

1. They make “easy money”
HAHAHAHAHAHAHAHAHAH. The only people who could ever possibly make the case that being an agent is an easy way to make money are those who have never done it. It’s hard, uncertain work, with many instances of months wasted on a deal that doesn’t ever close. The only thing easy about it is reading the Lighter Side of Real Estate.

2. They are required to show you houses even if you’re not pre-approved
There are definitely agents who will show you houses without a pre-approval (or at minimum a pre-qualification), but an agent is not required to, and most experienced agents probably won’t. The ability to qualify for financing dictates whether or not a deal is even possible, so an agent is simply saving you from disappointment (or worse) by asking you to get pre-approved.
3. Zillow is more accurate than they are

It would be wonderful if Zillow (and similar websites) were accurate in their home valuations, but if you compared their results to actual appraised values, in most cases you’d burst out laughing. Real estate agents want you to get as much money as possible for your house, but oftentimes reality gets in the way. Trust your realtor to give you a fair market assessment for your house…at least more than you trust Zillow.

4. They make huge commissions
The popular real estate flipping shows on cable, and Million Dollar Listing have given everyone the impression that real estate agents are rolling in the dough. Most real estate agents wish that this was true, but reality is much different. The median US existing home sale price in December 2016 was $234,900, which means after splitting the commission and paying their broker, an agent took home about $3500 on the transaction, not including all marketing and related expenses. As a monthly income, this adds up to about $40,000 per year. Not exactly huge.

5. They’re an unnecessary evil
Many people have made the argument that real estate agents are unnecessary and are merely an impediment to a more efficient “For sale by owner” model of real estate. The best way to eliminate this misconception is to try selling your house yourself. There is nothing more sobering than desperately Googling state and federal real estate laws as some unkempt stranger is knocking on your door asking you questions about your FSBO house.

6. They’re sleazy
Unfortunately, real estate agents have joined the ranks of lawyers, politicians, and salespeople in some of the public’s assumptions about their trustworthiness. The financial collapse of 2008 exacerbated this perception. Thankfully, the market correction also weeded out most of the unsavory elements in the business. The truth is, real estate agents are honest, hardworking people, making a living like any other profession. And just like any other profession, there are a few bad apples that unfairly give the others a bad name
7. They’re uneducated
This misconception really gets under most agents’ skin, because not only do many agents have degrees (and advanced degrees in quite a few cases), but the knowledge required to pass a real estate exam is substantial. There are many people who are unable to get their licensing because of an inability to pass the licensing tests, which makes the concept of an “uneducated” agent laughable.

8. They want you to pay more for a house so they can make more money
If you truly looked at the math involved in calculating real estate commissions, you’d never utter this falsehood again. An agent getting you to pay $10,000 more for a property will net that agent approximately $150, which barely covers the cost of gas required to drive to and from your appointments. The truth is that an agent absolutely wants you to buy a house. What’s not true is that they want you to pay more for one.

9. They’re mostly part-timers or bored housewives
If you ask the average person to describe the archetypal real estate agent, they’ll probably say it’s an older married woman who is looking for something to do in her free time. Ugh. This is stereotyping at its finest, and ignores the hundreds of thousands of male agents, the hundreds of thousands of full-time agents, and the hard-working primary bread winners that make up the real estate workforce. Sure, the stereotypical agents do exist, but they’re the exception to the rule.

10. All they want from you is the deal
Yes, agents want your business. But true professional real estate agents want to be your lifelong real estate advisor. They want you to think of them whenever you or your family and friends have any real estate questions. They want to see you and talk to you more than once a decade, and they want to make sure that you remember your interactions with them as being absolutely delightful.

For some South Tampa neighborhoods, it’s a mix of function, marketing and mystery. Written By Marcy Sanford | Photograph...
02/21/2017

For some South Tampa neighborhoods, it’s a mix of function, marketing and mystery.
Written By Marcy Sanford | Photography by Gabriel Burgos

Despite being one of the oldest and most culturally significant parts of the city, South Tampa’s history is fairly short – it was only developed about 100 years ago, at the start of the 20th century.

“That era was a very dynamic period in American and Florida history,” said Gary Mormino, professor emeritus of Florida history at USF St. Petersburg. “At the turn of the century, Tampa’s population was about 16,000, spiraling to about 53,000 in 1920.”

According to Mormino there was plenty of room to expand, and, much like today, the neighborhoods near the water, like the ones in South Tampa, were especially desirable. During this time, developers were busy building beautiful homes for the city’s elite and encouraging northern residents to move to Florida.

The names developers gave the neighborhoods they built are now a familiar part of South Tampa lore. Davis Islands were named for D.P. Davis, the man who developed them, while O.H. Platt named Hyde Park (South Tampa’s first planned neighborhood) after his hometown on the South Side of Chicago, Illinois.

So how did Ballast Point, Beach Park, Palma Ceia and Sunset Park get their names?
ballast point

Ballast Point

While houses were not built there until the early 1900s, Ballast Point was the one subdivision that came with a name. Mormino says that the name came from the function of the area.

“Beginning in the 1850s and the decades following, Captain James McKay and others used Ballast Point as a port to ship cattle to Cuba,” he said. “The place was chosen because it enjoyed a deep natural harbor. The cattle were shipped on barges. When the empty ships returned to Tampa, the ballast contained big stones and rocks that were deposited along the bay.” Ships carried ballast, or extra weight in the form of heavy stones, to maintain stability in deep and rocky waters. Most ships had to deposit that ballast before entering Hillsborough Bay, a shallower body of water.

As the neighborhood began to grow in the late 19th century, Emelia Chapin, who owned Consumers Electric Light and Street Railway Company along with her husband, built a park complete with a pavilion, gazebo and pier in Ballast Point. It soon became the “in” place for Tampa residents to enjoy a leisurely afternoon picnicking, strolling or swimming.

beach park

Beach Park

In the early 1920s, local real estate developers formed the Beach Park Company and turned a primitive jungle teeming with alligators, snakes and other critters into a subdivision that they advertised in a 1924 magazine as a “home-place and show place of Florida’s most prosperous citizenry.”

Though they never did, developers initially wanted to create a “beach and park” to attract new residents from the north. In the hopes that their plans would come to fruition (and in a sly bit of marketing), the subdivision was named Beach Park by the Bay, which evolved to today’s Beach Park.

Lots sold for $2,570 in the early ‘20s. The developers upheld strict building requirements to ensure a uniform style for all homes – they had to be a Mediterranean design and feature stucco exteriors, terra-cotta roofs, interior and exterior archways and plenty of decorative tile.

“They even had rules about how many chickens you could have in your yard,” said Emmy Purcell Reynolds, a realtor and former Beach Park Homeowners Association president.

The developers also built elaborate, illuminated gates at the corner of West Shore Boulevard and Cleveland Street that were so bright they could supposedly be seen from Pinellas County. You can still find the remains of a smaller set at the corner of Swann and Lois Avenues.

palma ceia

Palma Ceia

The earliest maps of the area that is now known as Palma Ceia show an unnamed spring with a creek feeding into Hillsborough Bay. When Tampa attorney Thomas Palmer and his wife, Ruby, first began developing the neighborhood in 1903, they named it Madrid. Several years later, the Palmers submitted a revised Madrid subdivision plan with one interesting change. The spring was now called Palmera Spring, likely an homage to the family’s last name.

From here it is all speculation. In 1910, Palmer teamed up with real estate developer James Taylor, who told the Jacksonville Times-Union that his company had sold land to an investor who would be building Palma Ceia and Palma Ceia Park. There are no records that explain why Palmer decided to change Palmera to Palma Ceia or abandon the name Madrid for his subdivision, but one plausible explanation is that he liked the sound of the already existing Terra Ceia in Manatee County and wanted to echo the name.


sunset park

Sunset Park
Located just south of Beach Park, Sunset Park was home to a beach, but little development, in 1916. However, that all began to change in the 1920s when the Sunset Park Company started building homes in the neighborhood, many of which are still there today. One of the developers, Charles Glover, was married to a poet and pianist named Alma, who is credited with naming the streets after well-known poets like Alfred Tennyson, John Keats and Henry Wadsworth Longfellow.

“I really enjoy the neighborhood, having lived in Sunset Park for over 22 years,” said Marlin Anderson, president of the Sunset Park Homeowners Association. “It’s nice to see the old houses in the vicinity of Bay to Bay and West Shore Boulevards and to know that the neighborhood does have a history going back to the 1920s.”


- See more at: http://southtampamagazine.com/whats-in-a-name/ .41SBSUJG.dpufWhat’s in a Name?
February 17, 2017 | South Tampa Magazine | Categories: Neighborhoods | Tags: history of ballast point, history of beach park, history of palma ceia, history of sunset park, Neighborhoods

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- See more at: http://southtampamagazine.com/whats-in-a-name/ .EEmjapDp.dpuf

South Tampa Magazine is a pursuit for the finest that Tampa has to offer. From its rich history and cultural roots to its trendiest destinations, hidden gems and growing skyline, we’ll stop at nothing to bring our city’s past, present and future to life issue after issue, page by page.

02/14/2017

3 Commercial Real Estate Trends to Watch
Daily Real Estate News | Friday, February 10, 2017

As businesses evolve in the digital era, it’s affecting their needs when it comes to physical space in commercial properties. Broker-owners of commercial firms should take note of three trends Transwestern recently highlighted in its first quarter Insights report covering the retail, industrial, and multifamily sectors.

Read more: Which Commercial Niche Is Right for You?

1. Retail: The Rise of Mobile Data

Retailers are getting more sophisticated in how they’re collecting mobile data about their customers. Many businesses are using mobile apps coupled with monitoring devices in their stores to track and interact with customers. If a consumer has that business’s app on their phone, it allows the retailers to engage with them by offering coupons or product suggestions. This personalized the shopping experience provides specialized data on consumer activity and interactions with the physical store location, according to Transwestern. This is influencing business owners’ location decisions and physical configuration needs at the storefront site.

2. Industrial: New Demands for E-Commerce Distribution Centers

Demands for faster shipments in online sales, and massive increases in e-commerce business is causing companies that have large fulfillment centers to rethink location. Previously, these online retailers chose industrial warehouses in lower cost areas outside of population centers. Today, there is a new demand for large commercial space closer to metro areas in order to more quickly and efficiently store and ship commodities to customers, according to Transwestern. These companies are seeking better access to various modes of transportation, such as trucks, rail, airfreight, and even seaports, So, real estate pros should identify sites with access to these amenities, as well as spaces that offer specific productivity and operation efficiencies that will help clients increase net operating income.

3. Multifamily: Micro-Unit Apartments in Urban Markets

As renters flock to urban centers for the live-work-play lifestyle, entry-level lease rates are becoming unaffordable for many recent college graduates, service workers, and young professionals, according to Transwestern. One way of providing more affordable living space is through micro-unit apartments. The Indie Apartments in Austin, Texas, for example, includes 138 apartments with 350-square-foot studios and 520-square-foot, two-bedroom units, and commercial restaurant space on the ground floor.

Read the entire first quarter 2017 issue of Insights for more information.

02/13/2017

For those who served in the NAVY. See where your friends and family were stationed or log in and add your name to to the Memorial. You should all go see this great tribute we built.

The United States
Navy Memorial Honoring the Men & Women of the Sea Services

12/06/2016

The 3 Major Opportunities That Will Dominate Real Estate in 2017

1. Build strong relationships with the Millennial buyer who is expected to make up approximately 50% of all buyers in 2017
2. Pave inroads into the Latino community, which will have a dramatic impact on the housing market in 2017
3. Build a large stable of salable listings that will be sorely needed throughout the next year

10/29/2016

Top 10 Cities Where Millennials Are Buying Homes

Despite financial obstacles and lifestyle choices that can delay the journey to homeownership, millennials are buying homes in affordable metro areas with steady job growth.

"Prospective millennial homebuyers residing in some of the most expensive cities in the country face the onerous task of paying steep rents while trying to save for an adequate down payment. However, for those currently living in or looking to move to a more affordable part of the country, there are metro areas right now with solid job growth and that offer a smoother path to homeownership," said Lawrence Yun, chief economist at the National Association of Realtors.

Here's a look at the top 10 metro areas NAR cited for their above-average share of current millennial residents, better employment opportunities and relatively low qualifying incomes needed to purchase a home.

08/10/2016

Redfin Real Estate
How Long Does It Take to Sell a House?
Home Selling
How Long Does It Take to Sell a House?

Use these measures to predict how quickly your home will sell

Written by Cheryl Mallard on August 8, 2016
how long does it take to sell a house?

Whether you’re selling your home to purchase a larger home, or downsizing, one of the biggest questions is, how long will it take to sell? There are several factors that will determine that. While real estate agents don’t have a crystal ball to predict the exact date and time your home will sell, there are measures your real estate agent can use to predict how quickly your home might sell.
Location

I’m sure you’ve heard the first rule of selling real estate is location, location and location. If your home is located in a highly sought after area, whether it’s because of a great school district, proximity to public transportation or is an up and coming revitalized area, the location of your home plays a major role in how long your home stays on the market. However, it’s not the only factor.
Price

It will sell, if The Price is Right! Homes that are priced properly typically have a shorter market time. According to the National Association of Realtors, homes priced at market value will bring in 60 percent of potential home buyers who are looking at that price point. However, pricing your home 10 percent under market value will capture 75 percent of available buyers. Homes that are overpriced for the market will have longer market time and will often result in low offers or no offers. Pricing your home slightly under market could result in a multiple offer situation for the homeowner, and may lead to a sale over list price.
Comparable Homes

You have to look at the past to predict the future. Looking at recent home sales in your area is one matrix real estate agents use to help determine market time. Typically, Realtors search the MLS (Multiple Listing Service) for homes with a similar makeup as yours, same style, number of bedrooms and baths, square footage, etc. to see how long they were on the market prior to closing.
Condition

The condition of your home will also contribute to the length of time your home stays on the market. Homes that are updated, well kept and have great curb appeal, will have a better chance of being sold quickly. Walk through your home as though you are buying it. Are you noticing the walls could use a coat of paint? What about the kitchen and bathrooms, are they stuck somewhere between “The Good, The Bad and The Ugly” and “Raiders of the Lost Ark”? It may be time to give your home a good facelift. Homes that show very well have a better chance of selling quickly.

Keep in mind, once you are ready to put your home on the market, you must be prepared to live a little like a houseguest in your own home. Buyers will want to have access to your home at varying times of the day. As the homeowner, you should be prepared to have your home shown to a prospective buyer within an hour or two’s notice. The more available your home is for showings, the more buyers will view your home, and the more likely you are to get that right buyer in your home.

Lastly, professional photos of your home are essential. Beautiful photos of your home that are well lit and show its full potential are more likely to grab prospective buyers’ attention.

According to The National Association of Realtors, 88 percent of homebuyers start their search online. Listing your home with a real estate agent who can ensure your home is on the MLS, and who has access to multiple online home search websites, further exposes your home to potential buyers.

home selling, how long does it take to sell a house, publish, sell a house, Selling a Home

07/02/2016

Fort Brooke was a historical military post situated on the east bank of the Hillsborough River in present-day Tampa, Florida. The fort was established in 1824, soon after Florida was acquired by the United States from Spain. The Tampa Bay area was previously known as Spanish Town close to what is known now as Hyde Park Avenue.
Davis Island was developed later on in the early 1890s. A native of Tampa by the name of D.P. Davis purchased the islands with the intentions of transforming these swampy islands into a thriving island community. D.P. Davis purchased the islands for $350,000 and was fought by surrounding owners who argued that the city shouldn’t be allow to sell the land since it was partially submerged in water.
The development of Davis Islands staggered after D.P. Davis was lost at sea and a small amount of homes were developed in the 1930’s. Shortly after, buyers of property on Davis Islands were given the rights to build any architectural style they desired which birthed the mix of styles seen today.
Peter O. Knight was responsible for adding an additional 875 acres to Davis Island in order to accommodate the airport.

Davis Island was built upon two man-made islands atop two small natural islands formerly known as "Little Grassy Key" and "Big Grassy Key" at the mouth of the Hillsborough River. The islands were built from mud dredged from the bottom of Tampa Bay in the 1920s and expanded. This dredge-and-fill operation was undertaken at the height of the Florida Land Boom by developer and Tampa native D..P. Davis. Davis then purchased all the dredged land for $350,000. He planned a resort community with three hotels, nine-hole golf course, airport, and swimming pool. D.P. Davis then sold 306 of the original lots for $1,683,582. The development stalled when the Florida land boom of the early 1920s wound down, and Davis was mysteriously lost at sea while making a transatlantic voyage in October 1926.

Many of the original Mediterranean-style structures are still standing and have received national Historic Designation, as well as local protections. Buildings of note include the Palace of Florence and Mirasol. Today Davis Island is a mix of residential and retail areas. Most predominant today is an eclectic mix of architectural styles because of the slowdown in development in the 1930s.

Thank you to the Tampa Bay Business Journal for bringing light to this issue. We must find a solution to our storm water...
06/14/2016

Thank you to the Tampa Bay Business Journal for bringing light to this issue. We must find a solution to our storm water and flooding problem ASAP. Once again following this week's rain we spent time speaking with both business owners and residents of our city who experienced damage to property, lost business and lost wages due to flooding. We urge our residents to start contacting your city council representative now. Do not wait until the August vote. They need to know that we want this problem SOLVED.

"Many quality of life seekers applaud growth when it means tasty new dining and shopping destinations. The business community supports density. When our universities and other economic drivers like MacDill Air Force Base excel, they help small companies root and grow here, and maybe one day become big enough to join the Fortune 500.
There’s nothing like hip-deep floodwater and impassable streets to kill that buzz."
Tropical Storm Colin: Stormwater infrastructure fixes carry business urgency - Tampa Bay...
Tropical Storm Colin was a handy reminder, practice session and wake-up call.
www.bizjournals.com

06/14/2016

Info on Davis Islands

Background

The two man-made islands which comprise Davis Islands were once known as the Little Grassy Key and the Big Grassy Key. They were formed in the 1920s and soon thereafter purchased by a Tampa native and developer named D.P. Davis, who planned to build a resort community. Many of the Mediterranean-style structures that were first built there still remain and have even received national Historic Designation. A canal splits the island in half, which is why the area is commonly referred to as the plural Davis Islands.

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