Tampa Bay Real Estate Blog- Kohan & Associates Real Estate: The Tides Roll in and out

Tampa Bay Real Estate Blog- Kohan & Associates Real Estate: The Tides Roll in and out: On new Year's Eve 1936 The Tides Hotel and Bath Club officially opened. It was a group of buildings including the main hotel, patio apa...

The Tides Roll in and out

On new Year's Eve 1936 The Tides Hotel and Bath Club officially opened. It was a group of buildings including the main hotel, patio apartments, a motor inn and cottages.  The Bath Club was in the center and had two dining rooms, a ballroom, dinner theater and two swimming pools. With its creaky wood floors, posh oriental rugs and eloquent ambiance, it was the place to see and be seen.  Pinellas County's high society made it their chosen recreation area  for weddings, art exhibits, fashion shows and special events. Time could be spent swimming, honeymooning, playing cards, eating lunch or cutting a rug on the parquet floors of the Four Seasons Room.

The impeccable service drew famous visitors like Alfred Hitchcock, Marilyn Monroe and Joe DiMaggio.  Thousands of members through the years spent time at The Tides. Although popular, the hotel became old and rundown. The 14 acres of beachfront land were soon worth more than the aged bath house and hotel so were sold to make way for a new development. In 1996 the old Tides was demolished with the new Tides completed in 2000. 

Today, the Tides Beach Club consists of 6 condo buildings, 214 units, 3 swimming pools and sprawling sand beach along North Redington. The Tides roll out and the tides roll in.

For information on the beautiful complex or any other properties, feel free to contact Kohan & Associates at www.Suncoasthome.com.

Deciding Between Renting and Owning?

Compare the cost of Renting vs. Owning a Home in Every State in 2017 to determine the most affordable option. According to GO Banking Rates, it has traditionally been financially wiser to own a home rather than renting one.  But as the demand increases and the supply decreases, the price of homes has been rising across the country, per real estate marketplace Zillow. So is it better to rent or own?

In a survey comparing costs of renting versus owning, a number of places were found where it is more expensive to own than rent.  This was the case in 11 of the 50 states, including a few states where the price difference is nominal.

The study looked at the estimated rent prices for all homes listed on Zillow.  Additionally the estimated monthly mortgage to own a home in each state was calculated, based on the median list price of homes listed on Zillow, a 20% down payment and a 30 year fixed rate loan.

The monthly rent in Florida was determined to be $1,543 on average with a monthly mortgage average of $1376.  One could argue based on these numbers that it is better to buy than rent in the Sunshine State.  Home prices have been rising in Florida so if you are considering making your move, there is no better time than the present.  Let Kohan & Associates help with the process.  Visit our website at www.Suncoasthome.com.

To read more about other states from this article, click here. 

Now what? Post Hurricane Must Do's

Wind and water combine to form hurricanes that wreak havoc on our homes and in our community. Living near the coast makes it imperative to have proper home insurance coverage in advance and then know how to support claims following a storm.

Water is typically the culprit when it comes to hurricane damage.  Unfortunately though, flooding caused by surges or water often isn't covered under standard home insurance.  A separate flood insurance policy needs to be purchased.  If you live in a flood prone area and have a mortgage it could be a federal requirement for you to own flood insurance. Don't wait to buy until a storm is approaching as many companies require a 30 day waiting period.

Coastal homes often carry a hurricane deductible on the insurance policy. Other deductibles have a set dollar amount but hurricane deductibles are a percentage of the home's value.  Take a $300K dollar home for example.  If it has a 5% deductible the homeowner must pay $15,000 before the policy will pay anything. This is applicable when a home is destroyed or damaged by a hurricane. Call your insurance agent to determine if you have a hurricane deductible.

Following a hurricane, as suggested by www.Todayshomeowner.com, the following steps should be taken:
1. Photograph and document damage
2. Conduct emergency repairs
3. Secure home inventory
4. File a claim asap
5. Secure safe lodging

Remember that recovery takes time following the devastating losses associated with hurricanes. If you are prepared and plan in advance, putting your home back together will go so much smoother following the storm.

Three Remodeling Mistakes that Hurt Home Values

"Projects that take a home significantly beyond community norms are often not worth the cost when the owner sells the home," says Scott Robinson, president of the Appraisal Institute. "If the improvements don't match what's standard in a community, they'll be considered excessive." Lifestyle website CheatSheet.com highlights a few renovation mistakes that could inadvertently lower a home's resale value.

1. Letting minor damage go unfixed. To better protect your investment, touch up chipped paint, repair leaky faucets, and remove carpet stains.  "Your home has to look better on the day of the open house than it's ever looked before," says Steve Clark, a real estate professional in Los Angeles. "If the back door is covered in scratch marks from the dog, you have to fix that."

2. Failing to remove trees that pose safety hazards. Though trees can be a selling point, they need to be well-maintained and planted in the right spot in order to boost the value of a home.  Trees planted too close to a house could pose a fire hazard, or the tree's root systems could damage the home's foundation.  A tree planted in the right spot could not only be aesthetically pleasing but also potentially lower energy bills.

3. Garage conversions. A quarter of Americans say their garage is too cluttered to fit their car inside, according to a survey by Gladiator Garage Works. So some homeowners may decide to convert the garage into a bedroom or den - but that could be a big mistake at resale. While it may earn extra square footage, these spaces tend to be poorly insulated. Also, buyers may prefer the covered parking space instead.

Article posted in Realtor Mag from the National Association of Realtors.

Do you need advice on what to do before selling your home?  Kohan & Associates have decades of experience and would be happy to answer your questions.  Call us today at 727-565-1658. www.Suncoasthome.com

Looking For Some Easy Money?

Are you one of those people who needs proof that it is a Seller's market? Sellers in the second quarter of 2017 took in, on average, an additional $51,000 per sale over what they originally paid for their homes! According to a recent report from ATTOM Data Solutions, this is the highest return the housing market has seen in the last 10 years. These sale prices equate to about 26% more than owners spent on their property. In 2007, according to study, an average $57,000 increase was pocketed.

Even so, since 2000, homeowners are tending to stay in their homes an average of 8 years nationally.  This may be in part because while it is easy to sell a home now, it might not be so easy to find the next purchase. With limited homes on the market it might be your best time to make a move.  Kohan & Associates would love to help!  Visit us at www.suncoasthome.com today.

Moving Soon? Here's help!!

Moving can be an absolute hassle.  Between the need to clean out your current home, change your address and organize the new home, it can become overwhelming.  Well-meaning friends and family offer unsolicited advice but wouldn't it be great to pick an awesome mover or get help packing your belongings with the touch of your fingertips?  To help make the moving process easier perhaps you would like to make use of the following apps:

1. Hire a mover
Unpakt (https://www.unpakt.com/)

2. Home repair and chores
Taskrabbit (https://www.taskrabbit.com/)

3. Design floorplans from photos
MagicPlan (http://www.magic-plan.com/magicplan/)

4. Make to-do lists with reminders
Wunderlist (https://www.wunderlist.com/)

5. Digital organizer
Sortly (http://www.sortlyapp.com/)

6. Order and receive delivery on almost anything
Postmates (https://nextdoor.com/)

7. Hire professionals
Thumbtack (https://www.thumbtack.com)

So whether you are moving within the same neighborhood or across the country, hopefully these apps can help ease the burden. To make your move even easier, Kohan & Associates can help move you into or out of your home. Visit our webpage at WWW.SUNCOASTHOME.COM.

Do You Have a Plan in Place for Hurricane Season?

According to the latest forecasts by Colorado State University, the National Oceanic Atmospheric Administration and The Weather Company, the 2017 Atlantic hurricane season is expected to be more active than historical averages. There are 14 expected named storms, with six being anticipated hurricanes, two of those being major.  Due to the uncertainty of climate models, comparable statistics were reviewed and an above normal season has been predicted. What can you do?

While there is no strong correlation between the number of storms expected and actual landfall, one or more of the forecasted storms could hit the U.S. No matter what, residents along the coastal portion of our country should prepare. 

Below is a list of some ways you can help your family get ready for a storm in advance:
Make a hurricane kit
Look over your insurance policy
Install storm shutters
Remove yard debris
Trim dead tree branches
Put away patio furniture
Back up computer records
Gather important papers 
Gill gas tanks
Get cash and medicine
Prepare your pet

Stay safe out there!
Visit SunCoastHome.com for other helpful info

Which are the Best Cities for First-Time Homebuyers?

Once again new owners are outpacing new renters in the housing market, something that hasn't occurred since the Great Recession. Millennials are leading the surge as first-time homebuyers which is why location is uber-important.  Young buyers today seem to be more cash-strapped than their ancestors due to high student debt and slow income advancement.  On the contrary, home prices are rising, faster in some locations than others.  With the flexibility offered by today's technology, buyers can be mobile as they work. Millennials are being met with a competitive buying environment in a market with low inventory and plenty of competition according to Zillow Chief Economist Svenja Gudell.

Five factors were considered while comparing housing markets. These include median home values, value forecasts for equity growth, inventory, the number of listings with price cuts and the breakeven financial time horizon buying over renting.

The biggest challenge for buyers of their first home is usually the down payment. It is the key for determining how much house you can purchase and the mortgage rate. Typically the larger the down payment, the lower the monthly mortgage payment.

Making money on their investment and competition worry first time buyers the most.  "Seven in 10 top markets for first-timers have lower median home values than the national average. Markets like Cleveland and Detroit make the list due to low entry prices but Orlando, Florida and Atlanta, Georgia have high inventory compared with the number of households, so less competition." Information from Diana Olick, CNBC Real Estate Reporter and John Schoen, CNBC Economics Reporter 

Are you a first-time home buyer ready to move to Florida?  Contact Kohan and Associates today to help you move in to your new home!  727-565-1658 or www.Suncoasthome.com

The Best and Worst Places for Retirement

Did you see this article in the New York Times?? Check out where Florida sits (#1 BEST). Are you ready to retire in the best location? Call Keyvan and Stephanie at 727-565-1658 or visit our website at www.SuncoastHome.com to search for your retirement home!  

Kohan & Associates will be happy to help you transition to Florida for your retirement!

Best and Worst Places to Retire

BEST

Florida

Affordability: 1st of 51

Quality of Life: 11th

Health Care: 24th

Wyoming

Affordability:4th

Quality of Life 25th

Health Care 19th

South Dakota

Affordability:15th

Quality of Life:33rd

Health Care:2nd

Iowa

Affordability:26th

Quality of Life:6th

Health Care:5th

Colorado

Affordability:27th

Quality of Life:17th

Health Care:7th

NOT THE BEST

Hawaii

Affordability:50th

Quality of Life:34th

Health Care:3rd

Connecticut

Affordability:49th

Quality of Life:13th

Health Care:15th

District of Columbia

Affordability:44th

Quality of Life:51st

Health Care:9th

Alaska

Affordability:38th

Quality of Life:50th

Health Care:34th

Rhode Island

Affordability:51st

Quality of Life:46th

Health Care:29th

Source: Wallethub

by the New York Times

ing

Connecticut

Affordability:

Quality of Life:

Health Care:

4th

25th

19th

Affordability:

Quality of Life:

Health Care:

49th

13th

15th

South

Dakota

District of

Columbia

Affordability:

Quality of Life:

Health Care:

15th

33rd

2nd

Affordability:

Quality of Life:

Health Care:

44th

51st

9th

Iowa

Alaska

Affordability:

Quality of Life:

Health Care:

26th

6th

5th

Affordability:

Quality of Life:

Health Care:

38th

50th

34th

Colorado

Rhode

Island

Affordability:

Quality of Life:

Health Care:

27th

17th

7th

Affordability:

Quality of Life:

Health Care:

51st

46th

29th

Source: WalletHub

By The New York Times

Home Pricing Mistakes Cost Sellers Thousands

The home sales industry has changed from 50 years ago but many agents continue using the same price approach. Many factors should be considered when a home is listed: location, staging, other homes currently for sale, comparable recent sales, etc. But a major pricing error that thousands of agents make daily is a small, costly mistake. When using sites such as Realtor.com on a mobile device, prospective buyers use pricing parameters. Zillow.com, however, uses a slider but numbers are still multiples of $10,000. When a property is priced a dollar higher or a dollar lower than a multiple of 10K it might be missed.  For example, say your property is listed at $499,999.  People searching for homes priced $500,000 - $550,000 will never see this listing. To provide buyers with maximum exposure, price points should be in multiples of $10,000 as opposed to the older way of listing with prices ending in $999, according to Bernice Ross, a national speaker and trainer.  For ideas on the best price for your home, reach out to Kohan & Associates at www.Suncoasthome.com.

An End is Coming to Sunset Beach's Parking Troubles

By the end of May visitors to Sunset Beach can expect their parking woes to lessen.  A partial resolution is coming as a site plan has been approved and a building permit given to Unified Parking Partners to begin construction on a commercial parking lot on Gulf Boulevard.  For years there has been complaining regarding limited parking on narrow residential streets near residences of Sunset Beach.  Popular tourist hangouts like Caddy's on the Beach drew tourists battling for spaces. There is hope that the new 89 space lot at the northeast corner of Gulf Boulevard and First Street across from Sunset Vista Park will alleviate congestion. The lot will have pay stations and a shuttle service to area businesses. City Commissioner Ken Keys believes the parking lot will make a significant difference in solving traffic problems. As for Kohan & Associates, we can't wait to park in the new lot and get our toes in the sand. Interested yourself?  Reach out to us at www.suncoasthome.com

Going green

     By next year green homes might represent 40% of the United States housing market according to the U.S. Green Building Council. Additionally, nearly 84% of all new homes built will include sustainable features. 
     Director of USGBC's Residential Technical Solutions, Asa Foss said, "It's becoming more mainstream due to rapidly improving building energy codes, newer and better green materials and fixtures coming onto the marketplace and an overall increase in awareness in what it takes to build a green home."
     Recent reviews show that green homes sell for higher than traditional residences.  So even though doing the right thing is a motivator, so is increased profit.
     The highest standard for people wanting to build to the gold level of green specifications is the Leadership in Energy and Environmental Design (LEED). This rating system allows builders and home owners to use resources efficiently. The use of recycled construction materials and Energy Star products are incorporated into the building with environmental sustainability as a focus.
     Every year, new installation records are being set with solar power.  Products like these are continually improving and dropping in price.  This increases market access for consumers.  It has never been easier or cheaper to go green.  
     Would you like to see some homes in the Tampa Bay area that are LEED certified?  Call Kohan & Associates at 727-565-1658 for an appointment today or check us out on the web at www.Suncoasthome.com.

Tips for Selling Your Home This Spring

Prepare yourself for a lively home-selling season as many home buyers are hoping to purchase before interest rates or home prices go up.  Even so, they are still insisting on a good deal.  While we are currently experiencing a seller's market where the supply of homes for sale doesn't meet buyer demand, the overpriced homes are at a disadvantage.  Many reasonably priced properties are receiving competing offers while the homes with inflated asking prices aren't moving at all. Three key things to remember when selling a home are location, condition and price matter. If one of these is off, your home might not sell.
Potential buyers tend to know within the first minute if they want to consider buying a home so sellers should pay attention to curb appeal.  Trim trees and bushes, pressure wash the driveway, paint the front door and add some colorful flowers. Additionally, wash the windows and lay down some mulch to make the best first impression.
Lighten your load.  By that, we mean eliminate your possessions by more than half.  Pare down your closets and furnishings to make your closets and rooms appear larger. Dark corners can be painted lighter and appear brighter when they are less cluttered. Take down heavy drapes, especially if they have a pet odor.
Do pre-inspection repairs.  If there are items in your home that haven't been maintained and you are fairly certain a home inspector if going to find something wrong, get it fixed.  You may even want to hire your own home inspector to point out issues before your home goes on the market so you can make any necessary repairs prior to selling. At the very least, consider updating the electrical panel and plumbing.
Price the home reasonably.  Sellers should compare homes that are similar and have recently sold to ask the best price.  Pricing a home too low will make buyers think something is wrong with the house and too high might cause you to sit on the property too long. Overpriced homes can stay on the market for 3 or 4 months making them more difficult to sell.
Following these tips will make marketing the home a breeze.  Professional photos, virtual tours, website write-ups and word of mouth will help home buyers navigate their home search.  If you are ready to hire a Real Estate Team to sell your home this Spring, call Kohan & Associates at 727-565-1658 or visit us at WWW.SUNCOASTHOME.COM.

Do You Know the Difference Between Sale Pending and Under Contract?

Is a home that is labeled as "Sale Pending" worthy of pursuit or totally unobtainable?  When a buyer makes an offer to purchase a home it is typically "subject to" or "contingent on" inspections, appraisals and/or loan approvals.  The seller understands the buyer has intentions of closing on the home but first must be sure the property is in good condition and financing is available. Otherwise, the buyer can cancel the contract.  Once the buyer is satisfied with inspections and has been approved for a loan, all contingencies are removed and the sale is pending. The buyer in essence is locked in to purchase the home. Important to note is that should a buyer need to exit the contract it is still possible to walk away at risk of losing the earnest money deposit.  So, when a property is labeled "Sale Pending" there might still be a chance to step in should the first deal fall apart.

Basically, a home that is under contract means the buyer has made a formal offer that has been accepted by the seller. Back up offers would be welcomed and the listing agent will probably continue showing the home because the deal can very easily crumble. Who knows?  There may be a surprise lien on the property, appraisals could come back low thus affecting the home loan, or problems could be discovered during the inspection leading to renegotiations. 

Although there is a difference between sale pending and under contract it might not be significant.  There is still a chance that if you fall in love with a home that has one of these labels, you might be able to snap it up and call it your own.

For more information on home sales in Tampa Bay and Florida's Gulf Beaches contact Kohan & Associates at 727-565-1658 or www.Suncoasthome.com.

Open House "Must Ask" Questions

When you are home hunting, there isn't a lot of room for error.  It's quite different from passively window shopping.  Open Houses present unique opportunities to sniff out hidden gems and ask plenty of questions.  Take advantage of the chance to speak to the listing agent and get the inside scoop. Trulia came up with 10 important questions to help you be prepared.
1. How many offers have been made?
2. Has the asking price fluctuated?
3. Why do the sellers want to move?
4. How long has the property been on the market?
5. Are there any issues with the home?
6. When was the house last updated?
7. How much do utilities cost?
8. What's the seller's timeline?
9. where can I get a good bite to eat?
10. What are the neighbors like?
It can be so fun buying a new home and visiting multiple open houses.  Don't get caught in the excitement and forget to look critically.  Of course, the house will be stage, smell delicious,  look bright and clean, but if this could be your future home, remember to dig deeply and ask questions.

Would you like information on upcoming Open Houses?  Call Kohan and Associates at 727-565-1658 or check out our website at www.suncoasthome.com.

Pack up the Family, You're Moving to Seminole!

Privacy, location and view. Custom built in 2006, this stunning home is nestled among million dollar homes along the Seminole canal, close to Seminole Park.  As soon as you enter, you are truck by the soaring ceilings, richness of the premium floor tiles and crown molding, and spaciousness that beckons your family toward the incredible water view that this elevated living space affords. The main living area takes full advantage of the sunlit garden and expansive fresh water view. Step onto your tiled balcony to appreciate the peaceful sounds of nature while overlooking your 80 foot wide waterfront property. the kitchen is a chef's dream with top of the line stainless steel appliances and natural stone granite counters. Main floor has three bedrooms decorated with high quality bamboo wood floors plus two and a half tiled bathrooms. The master bedroom features a walk in closet, sliding door out to the balcony, giant master bathroom with his/her sinks, granite counters and a jetted soaking tub. Downstairs is a two-car garage, utility room, workshop, storage closet, and large open area ideal for gym/sports equipment. Only ten years young, this inviting home has 2084 heated square feet. Backyard has plenty of room to add a pool next to the outdoor kitchen area and wet bar.  Fresh exterior paint, fenced yard, newer A/C, and no HOA fees make this a rare find.  This home is meticulously cleaned and move-in ready. Grab your kayaks and your fishing poles! Located at 8077 Cheyenne Drive in Seminole, Florida 33777.  For a personal tour and pricing, please call Kohan and Associates Real Estate Team at 727-565-1658 or email Kkohan@Remax.net. 

Which St. Pete Neighborhoods Will See Home Values Increase the Most this Year?

You may have never even heard of Westminster Heights. This neighborhood in St. Petersburg might be worth investigating though if you are looking for ideal real estate investments this year.  Located between 49th and 58th Streets South and located south of Central Avenue, this Tampa Bay location tops Zillow's list of the five bay area neighborhoods expected to show the biggest percentage increase in home valuation for 2017.  

Why is the area so appealing? What is causing the anticipated 11 percent value jump?  According to an article written by Susan Taylor Martin in the Tampa Bay Times, the location is good in terms of access to things such as the Pinellas Trail and Grand Central with new businesses popping up. Homes are well maintained and can be purchased for a good price.  An example is a current four bedroom listing for $149,000. Additionally there is a community playground.

Oakwood Gardens is located between 30th and 38th Avenues N with backyards of several houses butting up to I-275. Mature shade trees, easy store and restaurant access and well-kept affordable homes draw many to this neighborhood close to downtown St. Pete.  Home values here are forecast to rise 9.4 percent but very few homes are currently on the market.

Just south of there lies the Lake Euclid area including a two and a half acre park and wildlife area. While it is close to the interstate it is even closer to downtown. Many homes in this community can be purchased for below $175,000. Home values are expected to rise 9 percent in 2017.

Zillow predicts a 3% increase in this year's home values nationally. Are you ready to see what your home is worth?  Call the Kohan Real Estate Team for a free Home Evaluation at 727-565-1658 or email us at kkohan@remax.net.