Real Estate Market Snapshot of Waterfront Home Sales in Port Richey Florida April 2016

Port Richey Florida has a variety of waterfront home styles that our neighbors can take advantage of.  Port Richey has a number of lakefront homes, homes on ponds and the bayou as well as homes on canals and the Gulf of Mexico.  This current report does not include lake or pond homesites. A big part of living the Florida lifestyle is being on or near the coast and waterfront.  Port Richey offers some of the most affordable waterfront homes in the entire state of Florida.

For the month of April 2016, the waterfront home sales in Port Richey Florida were:

Sold Homes

4 Bedroom 4 bath non pool home 1,894 sq feet sold for $111,069.

3 Bedroom 3 Bath with a Pool 2,710 sq feet sold for $580,000.00

4 Bedroom 3 Bath non Pool 3,732 sq feet sold for $675,000.00

Pending Sales (under contract)

1 Home. 3 Bedroom 2 Bath non Pool 1,890 sq feet had a list price of $190,000.00

There were a number of waterfront homes that sold and went under contract which were located on smaller lakes and ponds. Those sales are not included in this.  The variation in sales price is related to not only the size of the home but the water it is located on as well as the neighborhood, age of home and external items like dock, davit, seawall. 

The Gulfside Team is here for you in Port Richey Florida and we are your waterfront home experts in western Pasco county Florida.

Buying a Home in a Multiple Offer Situation in Florida

The laws of conduct regarding the handling of multiple offer situations vary from state to state and ultimately it is the sellers decision not the listing Brokers decision on how to handle the multiple offer situation.  The listing Broker or their agent can only disclose the terms of the other offers to a buyer if the seller has given express permission to do so. Often times the listing Broker will ask the seller to put this request in an email or text message so they have a written consent. You may never know the terms of the other offers as a buyer which means you will want to present your highest and best offer.

Lets say you are pre-approved for a home loan for $225,000. and you cannot go above the purchase price already offered. You can make your offer "better" by having a shorter inspection period in the contract. You can also offer a larger escrow deposit or "good faith deposit" if you have the funds to do so. Lowering the amount agreed upon for repairs found during the home inspection is another way you can make your offer "better" without raising the purchase price. 

When deciding upon raising your purchase price be sure to have your Realtor review the recent sales of comparable homes most similar to the one you want to buy.  You want to make sure that the purchase price agreed upon in your real estate contract will meet appraisal value. If the appraisal is lower than the sales price or loan amount, you may not get financed and you will be unable to buy the home unless the seller agrees to lower the purchase price.  That can mean that you paid for home inspections and an appraisal and you don't get the home. 

A heartfelt letter to the seller may improve your chances of having your offer accepted. You can write a note to the seller explaining how much you love their home and wish to raise your family in the house. Compliment the home and let them know how much you appreciate the care and love they have put into their home over they years. 

The real estate market in New Port Richey and Port Richey Florida is a "Sellers Market" right now.  There are fewer homes available for purchase and many buyers actively looking for  home with puts the seller in a better position than in recent years. You will want to be as aggressive as possible to get the home you want.

You will want an experienced and knowledgable Realtor to assist you in today's market. Always remember, Your Agent Matters. 

Port Richey Florida Real Estate Market Update

It's a Beautiful Day in Port Richey Florida. Here is a quick real estate market update for Port Richey and New Port Richey Florida. Mike Gallo and The Gulfside Team are here to help you buy or sell a home in New Port Richey & Port Richey Florida.

Contact me today to discuss your real estate goals.

Our Top 5 Tips for Home Buyers in Pasco county Florida

Buying a home is an exciting time in your life and you may have a lot of questions along the way.  Having the right real estate professional on your side is always a smart decision.  We know the home buying process can seem a little scary so we wanted to share our Top 5 Tips for home buyers in Pasco County Florida.

1 - Call a few Realtors and interview them for the job of helping you buy your home.  The home buying journey is not a one day relationship and you will want to be sure you click with your real estate agent.

2 - Contact a mortgage professional. Your Realtor can suggest a few trusted professionals to call. See why the #1 step is to call a Realtor? Your mortgage pre-approval is Paramount when buying  a home. Your home loan will dictate the style, condition and market value range home you will be buying.  Without it, you are just wasting your time looking at homes that may not fit your mortgage loan criteria. 

3 - Have a sit down consultation with your Realtor. Discuss what you Need in your home and what you Want in your home. Finding everything you want in any one home is pretty much impossible to make a list of wants you are willing to trade off to get what you need.

4 - STAY AWAY from Zillow and Trulia and Even Realtor.com. Your Realtor will send you homes to look at online.  These homes are AVAILABLE to purchase and are given to you directly from the MLS. Zillow and Trulia are notoriously inaccurate and a huge waste of time.  Let your Realtor do their job and save you time.

5 - Look at the Data and Know Your Contract. Your Realtor will provide you with as much information as possible about the home you want to purchase. Look at the comparable sales when making your decision on how much to offer and read all the disclosures. I recommend you know what your inspection period is, what your timeframe is to review home owner association documents and your loan commitment deadline. Remember, in Florida only you and the seller are parties to the contract and you are responsible for adhering to your deadlines.  We provide you with a timeline so you know what you need to do during your escrow. 

West Pasco County Florida is a great place to live. Located on the Gulf of Mexico with local beaches, waterfront dining and lower property taxes, you can truly live the Florida Lifestyle here in Pasco county. 

Buying a Home in West Pasco County Florida

The Gulfside Team of Florida Luxury Realty is on your side when buying a home.  We offer a comprehensive home buyer consultation so you have all the information you need to begin your real estate transaction the right way.  We are with you from mortgage pre-approval to closing and beyond.  You want a real estate team who will watch out for your best interest during your transaction and will advise and protect you along the way. 

The first step is contacting us.  We will provide you with options for obtaining your mortgage which will let us know what criteria your new home must meet.  We will then create a customized home search based on what you need in your home while conforming to your lenders criteria.  We will work closely with your mortgage lender to assure you the best real estate experience possible. Buying a home in western Pasco county Florida is easy with our services. We can provide you a portal through the MLS system that will email you homes for sale so you can look at them online and on your schedule.  The portal also allows us to see homes you "Favorite" and we are notified of these homes so if you're looking at them after work or later in the evening you can tell us which homes you like without calling or emailing us. We value your time and strive to make your home buying experience as efficient as possible. 

Contact us anytime online or call at your convenience to discuss buying your home in western Pasco county Florida.  We serve Tarpon Springs, Odessa, Trinity, New Port Richey, Port Richey, Hudson and Land O'Lakes Florida. 

Port Richey Florida Home Sales - Market Report for April 2016

Port Richey Florida is located on the Gulf coast of Florida in Pasco county.  Homes in Port Richey Florida range in size and features from smaller homes of 900+ square feet to larger homes and waterfront home styles.  Having local parks and beaches as part of the Port Richey Florida Lifestyle makes our city a great place to live and play.

Port Richey Florida Market Report for April 2016

77 Homes Sold in The Following Range:
648 sqft $30,000
3,732 sqft $675,000
Average Value: 1,395 sqft $102,412.00
Median Value: 1,360 sqft  $ 82,000.00 average 2 bedroom 2 bath home. 

These averages are general numbers taken from the sales in the entire city of Port Richey Florida for April 2016.  This report is not specific to any one neighborhood.  You should always consult with a Realtor regarding your homes market value.  You can contact me anytime and request your customized market report or you can request an automated market report by clicking here.  

I'm here to answer any questions you may have regarding the Port Richey Florida real estate market when you are ready to sell or buy your home. 

Buying a Home in Florida Home that is "As-Is"

Teaching real estate and contracts is one of the most enjoyable things in my career.  Not only do I get to help my fellow agents but I get to stand up in front of everyone and get all the attention. (Insert Laugh Here).  Real estate laws differ from state to state and here in Florida we have what is call an "As-Is" contract that we use on transactions involving homes that are being sold "As-Is".  I want to start by explaining what an "As-Is" home sale is all about.  As-Is sales are the most popular in Florida. Mainly because the As-Is real estate contract is widely considered the most fair and balanced contract for both buyer and seller.  Homes that are for sale "as-is" are homes where the seller is not interested in making cosmetic changes or negotiating for new appliances in order to sell.  In other words, the home is what it is, it has what it has and you get what you see.  

You have every right to a home inspection and wood destroying organism inspection as well as A/C inspection, pool inspection. Heck you can have the home inspected for whatever you want during the time frame expressed in your contract referred to as your "inspection period" most often, you will ask for 10-15 days in order to complete all of your inspections.  In order for you to cancel your contract and have your escrow or "good faith" deposit returned, you have to notify the seller (or their agent) in writing (an email) during your inspection period that you wish to cancel the contract and move on.  I write that email for you. Should you ask for a 10 day inspection period you cannot email me on the 11th day and expect a refund of your escrow. The contract is clear and all timelines must be adhered to.  The contract is legal and binding. 

Here is what makes the Florida As-Is contract so beneficial to home buyers.  You do Not have to hire a licensed home inspector. The contract states that during your inspection period the contract may be canceled "at the buyers discretion".   You can have a spouse, partner, friend or relative that is knowledgable about homes give your their opinion and use that if you want.  Keep in mind that in order to obtain homeowners insurance you will need at least a 4 point inspection by a licensed home inspector to satisfy your insurance company.  My professional advice as your realtor is to have a full inspection regardless. The inspector is going to the home anyway so why not go all out with a full home inspection.  My job as your Realtor is to protect you and advise you as to what is in your best interest. The price may vary a bit for the full as opposed to the four point but better safe than sorry I always say.  The four point inspection is the A/C, Electrical, Plumbing and Roof.  A full home inspection will check that the appliances are operating, door jams are not seeing dry rot, lights and fans operate etc... it is a room by room inspection.  a WDO or Wood Destroying Organism inspection is required by VA and FHA financing and as your super awesome real estate agent, I pay that inspection for you.  

Sometimes you will see a home that needs some updating like paint and flooring. When a home is sold as-is, the appearance and updating is taken into consideration in the asking price.  If the seller doesn't want to spend money on updates to sell, the home should be price accordingly. I will give you a market analysis before you make an offer if we all think the price is too high.  I then use that report as a tool to negotiate your offer and sales price. 

What if your home inspection shows an issue?
You can ask for a price reduction or ask the seller to fix the issue.  Lets say the home has a stab-lock breaker panel which can hinder your ability to obtain insurance. You can ask for the seller to replace it.  Just be aware that this all has to be dealt with during your inspection period. When I show a home I always open the panel. If its a Zinsco, Sylvania Stab Lock I will tell my client and we will add the repair to the contract and offer from the start.  Other items like a leaky roof or leaky hot water heater will affect your financing and insurance and its normal to ask the seller to make those repairs. As-Is does not mean "poor condition".

Im always happy to answer any questions you may have about Florida real estate.  I've been serving the community in Pasco county Florida for over 10 years and I am always here for you.