We’ve had a few more homes close recently in our neighborhood, and surprise surprise - people are actually moving into them! Folks are realizing that it’s a great time to buy a house, and the homes in our neighborhood aren’t sitting empty as long. We still have quite a few homes in the front that are empty, because they were purchased by investors, but the other homes seem to have been purchased by people who actually want to live here. What a novelty!

I got nosy this week and walked through one of the homes under construction in my neighborhood. With the prices being so much lower than they were a year ago, people are spending a little bit more attention to detail on the inside of their homes. We’ve seen more people optioning to get upgraded cabinets, and Corian, and we’ve seen a few homes with upgraded bathroom lighting, just like we did. The builder standard was a bar of 5 of those big rounded bulb lights - like a dressing room backstage in a theater. The direct light bothers my eyes, so we chose to get something with a shade over the bulbs, and we upgraded the lighting in all 3 of our bathrooms. The master bath and the kids bath match, and the powder room downstairs matches the dining room and foyer lighting.

Of course, had we not done it in the construction process, it’s something that’s easy enough to change out on your own. You also get a much larger selection than we had in our builder’s design center, and you save money by doing it on your own. Sweat equity, and all that!

I came across an interesting article in the paper this week that was talking about the high number of rental homes in subdivisions around Tampa, and that less people are buying now, and more are content to rent for a while longer. (I don’t understand that, since this is a fabulous time to buy a home and get a deal!)

The articles stated that from the HOA’s experience, renters are more likely to pay attention and follow neighborhood rules and regulations, because they don’t want to risk losing a lease. That’s not entirely true for my neighborhood. Landlords are so desperate to rent homes, they’ll overlook residents not following the rules. Of course, we also have plenty of residents who don’t follow the rules, from the people who park on the street overnight, to the people who installed illegal fences.

Due to the state of the real estate market here in Tampa, lots of residents are choosing to stay put in their current homes. Quite often, this means updating your current space to make it work for your future needs. If you can’t move to get a bigger house, you may need to add on. If your outdated kitchen or bathroom isn’t working for you, it’s time to remodel. Had we stayed in our last home, I would have definitely been after Jim to replace our kitchen cabinets and counter tops, and upgrade the bathroom. Doing projects around the house to make it more livable for you right now will also add to the overall resale value when the market does bounce back. You may choose to build a deck now to give your family a great outdoor living space, but you’ll find that in a few years, when you go to sell, that deck = money in the bank for you.

Trouble is, a lot of people who want to do these DIY (Do It Yourself) projects don’t know where, or how to begin. Heck, when my husband put down laminate floors in our last home, he didn’t know how to get started either, so we had to get instruction from the store where we bought the materials. It’s MUCH easier to go online and get advice for free at DoItYourself.com, which has over 100 active forums on how to complete home improvement projects on your own. They even have DVD’s that can provide you with step by step instruction, which means your project can go off without a hitch. Knowledge is power, and in this case, it’s also money in your pocket!

In the 11 years my husband and I have been married, we’ve moved a total of 5 times. Our most recent moves were definitely the most stressful. In 2005, we sold our home, and moved into a rental home while our new home was being built. Knowing that we’d only been in our rental home for a few months, we left a lot of our things packed and stored in the garage, which made things interesting. I’d go looking for a certain cake pan, or a book I wanted, and then realize they were piled under 15 boxes in the garage. We didn’t use professional movers, but I sure wish we had checked into it, or at least gotten some free professional advice, like what you’ll find on HomeBulletin.net. They’ve got a neat moving checklist I could have used, and advice on how to pack your things correctly too. I’m guessing that my technique of shoving clothes randomly into trash bags isn’t among the tips they share. The site also gives you the ability to get free quotes from movers.

My husband and I were wasting time online last night and started looking at property in North Carolina and Tennessee again. We’re still interested in buying NC mountain real estate as a retirement option or an investment, but it’s not something we want to hurry into. You definitely need to see property in person to ensure it’s what you need. I want property that’s private, with a great view, but I’d also like it to be close to a city, like Asheville. Whisper Mountain is one of the new developments outside of Asheville available to buyers. Lots start at $90,000 and the development is planned out with homesites, trails, long range views, and other amenities. It’s like a subdivision, only extremely wooded and private. I like that, because it ensures that the lots will all be developed with the same standards regarding homes. You won’t find a broken down single wide trailer next to a half million dollar home, like you will in other mountain communities. Best of all, the developers have worked to maintain the land and the trees as much as possible, to ensure that you’d feel like you were living in a national park.

With standards like that, no wonder so many Floridians are looking at North Carolina as a retirement option.

The house I grew up in is back on the market again. It was an odd situation when it was sold last year - one of those once of a lifetime buyers who just falls into your lap. It seemed like the perfect situation, despite the incompetence of the Realtor involved, so I’m curious as to why the home is being sold. I looked it up on the MLS and it’s listed at only about $10K more than the guy paid for it. He’s made improvements, but with the market being what it is, and Realtor commissions, he stands to lose money on the deal. The agent’s site doesn’t have the pictures up yet for it, but I’m dying to see what he’s done to the inside!

How low can you go?

In my neighborhood, the base home price has dropped $50K since we bought. Eek! The price for our particular model is down $30K. I was poking around in the website for my county appraiser, and discovered that I could export the data into an Excel spreadsheet, or even create address labels for my neighborhood. (So that’s how the Realtors do it!) I dropped the information and sorted it by price, and found that only 23 homes sold for under $200K. Property values may not be great, but it looks like due to my neighborhood having only a few lots left, things may not be that bad for us after all.

With the real estate market being what it is right now, lots of people are looking for deals, figuring that a buyers market is the best time to invest in real estate. South Miami Beach condos are typically the type of thing that investors love to pick up for a song, because South Beach is always hot, and will always bounce back from a real estate slump. SBIRealty.com offers pre-construction pricing on condos, which is a great way to get extra incentives and options from the builder without anymore out of your pocket. Condos may have cooled off here in Tampa, but I think they’re remain hot in the South Beach and Miami area.

Some of the best beaches in the area are just about an hour south of Tampa, off Sarasota. A few years back, we went to the Anna Maria Island and Siesta Key area, and stayed in a lovely house on the beach overnight. Siesta Key is small - just 8 miles long, and it’s remained a quaint, quiet area. There’s not much traffic or noise, the homes are well cared for, and you can walk to restaurants and shops. This Siesta Key Vacation & Accommodations Guide gives you a hint of what you can expect from the area, but you’ll still be amazed when you see it in person. It’s truly off the beaten path and quite different from the beaches around Tampa. The sand is soft, like walking in flour, and it’s a great place to go shelling.

The Siesta Key guide has tons of information on local events, things to do, and places to see. Whether you want to swing in a hammock for your entire vacation, or see some action, you can find it all with this handy dandy guide. I really enjoyed the section showing what movies have been filmed in Siesta Key and the surrounding areas. It would be neat to watch a few after a trip to see if you can recognize any palm trees!

Real estate has always been a passion of mine. One of the most exciting times in my life (aside from getting married and giving birth) were the times we’ve shopped for and purchased a new home. It’s so fun to look and plan and shop for real estate. I would LOVE to learn how to get started investing in real estate, and flipping houses, as soon as the Florida real estate market picks back up. (With the current prices, it’s a great time to buy, but not a good time to sell!)

PEI University has been teaching people like me how to invest in real estate for the past 25 years. Best of all, they teach you how to invest without using any cash out of your pocket. That’s just the kind of thing for my budget, LOL! The best thing about what PEI offers is that you can learn what they know online, for FREE. That REALLY fits my budget, and online learning is the way to go. Who wants to waste time in a classroom listening to someone drone on about what worked for him, when you can access all of the tool and information you need on the internet?

They must be doing something right too - their students bought and sold over $242 million in real estate last year. Holy cow!

Unfortunately, foreclosures are a fact of live now in Florida. So many investors bought when the market was heating up, and now that they can’t sell or rent those homes, foreclosure is the only option. Even more unfortunate is that real homeowners are being hurt by the sad state of the Florida real estate market. Due to SO many homes being on the market, people who really need to sell their homes to move out of state, or for other reasons are stuck.

It’s really hard to find information on foreclosures - Google it and you’ll find plenty of instruction on buying them, but not a lot of advice on living through one. If you’re going through a foreclosure, GotTrouble.com can offer free advice on dealing with your lender, state specific laws, and the foreclosure process from beginning to end. It certainly can’t hurt to ease your anxiety and the stress of going through such a life changing process.

Since we built our new home last year, I don’t plan on moving again for a while. It’s a big hassle! Adding to the hassle last year was that we did 3 moves in the span of 6 months. In November of 2005, Jim and I moved out of our home that we sold into a rental. Then we moved my mother into her new home in April 2006. And then, in May 2006, we moved into our new home. Never again, will I try to make that many moves in such a short time frame. And doing it yourself? Forget it. We busted our humps for weeks to get all of those moves done. The next time I have to move, I’m hiring professional movers. Oh sure, you hear horror stories about so called professionals who charge sky high rates and hold your stuff hostage. Before hiring a mover, use a website like HomeBulletin.net to find licensed movers. Different companies specialize in different things - some do great with coast to coast moves in the USA, others do in town moves. Find the best one for your specific needs and let someone else deal with the headaches and hassles - you can even request a quote online to compare different companies in your area.

I opened my newspaper this weekend to find an advertising circular for North Carolina real estate. I suppose they’re hoping to find those Floridians who are sick of the heat (check!), the bugs (check!), the high fees for taxes and insurance (check, and double check!) and want to make a move. My husband feels pretty strongly that his company will expand into North Carolina, specifically, the Charlotte market, so I think property values will only continue to go up there. Charlotte North Carolina homes have increased in value 5-10% each year over the past few years, which may not sound like a lot, but compared to the sad state of Florida real estate, it’s a great position to be in, whether you own a starter home, or luxury homes in Charlotte.

The communities surrounding Charlotte are taking steps now to ensure they will remain as quaint and attractive as they are today. Take Weddington real estate, for example. This small town remains primarily residential by limiting commercial growth, and it also boasts one of the highest per capita incomes in the state. The area is a true bedroom community for those wishing to live in a quiet area away from the city, but close enough to make the daily drive to work. Luxury homes in Charlotte aren’t doing so bad either. The area is catering to those who will continue to make Charlotte a great place to work, live, and play.

A new report from data firm RealtyTrac has confirmed what I knew all along - foreclosures in Florida are up! In fact, Florida is only 2nd to California with foreclosures, thanks to the foreclosure rate here being up 77% from last year. I’m thankful that not only are we not trying to sell right now, but that we don’t have an adjustable rate mortgage, so we’re set on our payment and not in danger of it going up. Yes, we may be in the hole a bit for some equity, but that will return to us eventually.

I got a postcard in the mail today from a local realtor telling me that they sold a house down the street. Actually, they were a buyer’s agent, and the house isn’t built yet, they just happened to “sell” their client on our builder. I sure wish it had been one of the empty, already constructed homes that had been sold. It’s a shame that so many investors bought and walked away, and now are possibly declaring bankruptcy because they couldn’t sell the homes they bought to flip. Should you be in the same boat, and you’re not sure about your options, a bankruptcy legal professional is who you need to speak with. Don’t do anything rash until you find out all of your options!

As the Tampa real estate market continues to slow, I’m getting the impression that a lot of investors failed to have a plan for failure. Yes, we never plan to fail, but it’s a good idea to have a contingency plan if things happen that are out of your control. We’ve got investors walking away from homes in my neighborhood…literally, walking AWAY from the home. Declaring bankruptcy. Losing whatever equity they had, or selling the home for pennies on the dollar. Obviously, those people failed to plan. This financial investing blog shares information on how to plan your financial strategy in 6 steps. Step 6, adapting, is where many real estate investors planned. Faced with a slumping market, they had few options, or perhaps didn’t act soon enough on the options available, hoping that things would turn around.

If you’re interested in knowing more about investing, the blog has articles on stocks, investing in gold, and of course, real estate investing! And of course, while everything is purely the opinion of the blog author, he makes some excellent points, he doesn’t use too many technical terms, and he presents information on all types of investing.

The real estate slump in Tampa isn’t just affecting those trying to buy and sell homes - it’s affecting people who are offering properties for rent, as well! There are so many homes and apartments and townhomes for rent right now that buyers have their pick of any number of homes. A friend of ours who is renting had her choice of several different homes in the same neighborhood, and they got not only a great deal on rent, but included utilities and pest control too!

People all over the US can turn to Rentals.com to check out houses for rent - instead of a bland black and white ad, like you’ll find in the newspaper, you’ll get to see a full listing for each rental, and pictures too. I took a look at the Tampa listings to see what was out there, and found a TON of great homes to choose from. Pools and fenced yards and all sorts of added perks. The site is getting so much traffic right now, I can’t even access it - wow! You can search by state and then narrow down your results to a metro area, so that you won’t miss a single home for rent when you’re doing your search.

I think this rental home in Tampa is my favorite. I love the dormers and the metal roof, the hardwood floors and the water views.

With the real estate market tanking (for the time being) here in Tampa, investors are looking to other locales for a place to park their money, and hopefully make some money. Topsail Island real estate is one such place. Topsail Island is located off the coast of North Carolina, which means it’s not as stinking hot and humid as here in the Sunshine state. The barrier island isn’t very big - just over 25 miles long, but the size allows the community to retain a down home family kind of feel, while being close enough to the big city (Wilmington, NC) that you don’t lose touch with the finer things in life.

Those of you looking for a quiet place to own a vacation home might just think that Topsail can’t be beat - it’s got golf, fishing, beaches, dining, marinas, and plenty to see and do. Rent your 2nd home out to tourist and enjoy it when you want to get away from the Florida heat! The weekly or monthly rental fees are more than enough to cover a mortgage, and the island is just a day away by car when you’re ready to BE the tourist. Now that’s the life for me!

There sure are a lot of loans being defaulted on in the Tampa Bay area. Investors who took out secured home loans to buy a new home in the past year are finding that they can’t flip those homes. In some cases, they can’t even rent the homes out. We’ve got several empty homes for sale or for rent in our neighborhood, and why buy one of those, when you can buy from the builder, spend less, and get more in perks? (Like getting your closing costs paid!) I’m not worried about our resale value right now, because when we took our our secured loan on our new home, we knew we’d be there for a while. I’m not going anywhere til the market bounces back, and then some! I wonder what all of the folks who are defaulting on these loans are going to do now? I wonder if other parts of the world have housing slumps like this? Do buyers with
Secured Loans UK have these issues? Maybe it’s a good time to buy overseas! LOL