Market Report for Embassy Hills, Port Richey Florida April 2015

The Embassy Hills community in Port Richey Florida is a fairly large neighborhood located between US19 and Little Rd in western Pasco county Florida.  Home owners in the Embassy Hills community enjoy convenience to shopping, dining and entertainment all within close proximity to the community including the Gulf View Square Mall.  The neighborhood is also convenient to the Regency Park Branch Library, public elementary schools and places of worship.

Here is the Breakdown of Real Estate Activity in Embassy Hills in Port Richey Florida

Information Deemed Accurate but not guaranteed

With 31 Homes Sold in the month of April having a final Sold Price range of $23,500 to $147,500 you can see that depending on the size of the home and it's location, home prices have increased over the last 2 years.  The lower Sold price homes were distressed properties and may not be a true representation of your homes market value.

Contact me to Sell your home in Embassy Hills or if you would like to receive a no obligation market analysis specifically created for your home.

Seasoning Your New Bar-B-Que Smoker

Have you purchased a new Bar-B-Que grill or

Smoker for your new home or to use at the home you already own?  Don't forget to Season your grill or smoker.  Living in Port Richey Florida we use our Bar-B-Que grill and smoker many times a week year round and by seasoning your grill, you will get a better tasking bar-b-que and actually prolong the life of your grill or smoker.  I also suggest that you invest in a cover for your grill if it is not stored inside.  A cover will help protect your grill from the rain and keep it cleaner.  One tip to look for in a cover is one that has a mesh strip which allows air to get under the cover to help reduce moisture between the cover and grill.

There are many opinions on how to season your bar-b-que grill or smoker.  The one thing most have in common is what we call "empty grilling". This is when you start your grill and let it heat up and cool down while there is no food inside. If you have a smoker, you will want to use the smoker box or heat box to do this.  

Here is how we season our New Grills:
1- Cover the exterior with WD-40. This will aid in preventing rust and help to seal the metal of your grill.
2- Cover the entire inside with Canola or Peanut Oil. These oils have a high tolerance to heat. You can mix in some bacon grease if you have it. 
3- Grill or Smoke the bar-b-que for a few hours to heat it up, heating in the oil and it will release the chemicals from the paint and coatings of the grill.

www.MikeGallo.Realtor

When you start smoking or grilling your new grill for the first time you may smell a chemical or metallic odor. This is why you want to season your grill and give it a good burn with no food in it.  If you use a smoker without doing a starter burn, you may find the food you are smoking almost inedible.  You can check out YouTube for many videos of people seasoning and using their smokers and bar-b-que grills.  Grills are a part of daily life here in Port Richey Florida and across the southern states and if you want to grill often you will want to start your grill off o the right foot. Last weekend we purchased a new Smoker Grill for our home and we are seasoning and smoking init tonight so it is ready for Memorial Day Weekend.  Happy Grilling from your local Port Richey Realtor(R). 

written by Michael J. Gallo

How to Successfully Buy a Home

Trulia, Zillow, Websites, Oh My! Over the last 10

years the internet has put the job of finding the right home on the home buyer. You have websites to search and homes to see all over the internet that can just drive you crazy. Before you get online and start looking at virtual tours and homes to buy, you should read below and follow these steps so you can successfully buy your home and avoid a lot of frustration and headaches.  

How to Successfully Buy a Home

• You will need to obtain a mortgage pre-approval if you are not buying the home with cash. You should look for a local mortgage professional to assist you.
• Contact a Realtor(R) and sit down with them and discuss what you want in a home as well as what you need. My real estate consultations are necessary for me to work for you. I cannot do my job effectively without a consultation before we look at home.
• Give your Realtor(R) a full picture of you situation and what you definitely need in the home as well as specific neighborhoods or areas you wish to live in. There are a lot of homes for sale and you will want to only look at homes that fit your criteria.
• Allow your Realtor(R) to set you up with an email alert of homes that fit your criteria and discuss with them which homes you want to see. Stay off of the Internet. Zillow and Trulia are inaccurate and out dated information. If you see a home online that your Realtor(R) did not email you, there is a reason.
• Give your Realtor(R) the ability to do their job. We are trained professionals who handle real estate transactions all the time. Let our experience work for you and make your home purchase an enjoyable one.

You will then be ready to head out and look at home with the confidence that you are qualified to buy the home and you know that you are looking at homes that fit your criteria. Once we find the right home for you we will discuss your offer and contingencies of your offer and contract. Home buying should not be taken lightly and if you follow a plan you will see the homes you want to see and you will have an enjoyable experience and with the guidance of your Realtor(R) you will successfully buy the home you want.

Serving our neighbors in Trinity, New Port Richey, Port Richey and Hudson Florida. Contact me to sell your home.

written by Michael J. Gallo

What is the Difference Between a Short Sale and a Foreclosure Sale

Around 2007 the real estate market in Florida

changed and we saw an influx of short sale transactions. We still have a good number of homes for sale as a short sale but in far fewer numbers than before.  So what exactly is a "Short Sale"?  When a homeowner owes more on their home than the market value and asks the bank who financed the home to accept a payoff amount that is less than they owe.  The homeowner lists the home for sale at fair market value and the bank decides whether or not to accept the offer from the buyer.  The short sale process is more involved for the homeowner and their agent and from the buyers side, the process is long and there is no guarantee you will get the home for the price you offered (or at all) even though the home owner signed a contract to purchase.  Every short sale is different and the transaction hinges on the seller providing the bank with all the required paperwork and you may not get an answer on your offer for 60 days. 

If you want to sell your home in western Pasco county Florida and think you need to do a Short Sale, contact me. I have the experience and professional short sale negotiator to assist you.

A foreclosure or (REO) sale is when the bank who financed the home has taken ownership because of non payment by the homeowner by enforcing their lien. Florida is a lien theory state where you own the home and have your name on the deed from the day of closing even if you are financing the purchase. Your bank creates a "mortgage" which is a lien on the property which holds it as collateral for your loan. Basically when you buy a home, you are using the house you do not own yet as the collateral for the loan. Since we are lien theory the bank must foreclose on non paying home owners. A foreclosure is a legal action taken by the bank to gain ownership.  The case must go through the court system before the bank becomes the owner. It can take up to 2 years in Pasco county for a foreclosure to be finalized and the bank get title. 

When you look to buy a foreclosed home you must keep in mind a few things:

• Hire a Realtor(R) who has experience with foreclosure sales. The process is different from any other sale and you can lose the home if your agent is not competent.
• Forget logic, reason and emotion. Your buying the home from the bank and they only accept highest and best offers and we are dealing with a company not a person.
• Homes are sold "As-Is" and you amy be required to pay the Sellers state transfer tax at closing so you will want to figure that into your available cash as it will be part of your closing costs. 
• You have the right to inspect the home and decide not to buy it based o the home inspection.
• If you finance with FHA and the FHA appraiser has repairs that are required, the bank may do the repairs up to a certain dollar amount so be sure to read the real estate addendum the bank has you sign.
• Try to get your inspections done fast and put a short inspection period in the contract. 
• The Bank DOES NOT DISCLOSE anything. They know nothing about the home. You and your agent need to do your due diligence. Pull permits to search age of roof, a/c etc..check for geological reports for settlement issues, have your agents preferred title agent run quick search for liens or assessments on the property. 

You can still get a good "deal" on a foreclosed home in Trinity, New Port Richey or Hudson Florida but if you want to go that route and get a home for a low price in our area  I will tell you that the homes will need work, have been neglected and if it's too cheap to be true it probably is. Please contact me if you think you need to short sale your home. I have the experience and network of professionals to assist you and successfully sell your home as a short sale. 

New Port Richey Florida Retirement Community of Summertree

The Summertree community is located at the

intersection of State Road 52 and Paradise Point Way. This beautiful gated community is reserved for residents age 55 and over.  Entering the community, you are welcomed by an unmanned guard house with seasonal landscaping and flowers. The gates are operated by a sticker placed in your cars passenger side window that is recognized by the gate and opens automatically for you.  Driving into the community you follow Paradise Point Way which winds through beautifully landscaped medians.  The community of Summertree has a variety of areas inside which offer a variety of home styles that include Villas, Single Family Homes of both smaller and larger floorpans as well as condominiums.

Summertree has a community clubhouse where

residents enjoy holiday parties, dinner dances and a variety of entertainment. Just outside the clubhouse in the recreation center you can enjoy an in ground heated pool and in ground hot tub. The recreation center also has a fitness gym, billiard room, computer room and card room. There is also a laundry room should you need it and the residents in Arborwood have a lending library.  The Arborwood neighborhood inside Summertree has it's own pool and spa and recreation center for the Arborwood residents that is located in the Arborwood area so those residents idon'thave to go to the main pool to have some fun in the sun. 

Located in the back of Summertree is the highly desired Cross Creek section. This area consists of larger home styles of newer construction. Each neighborhood inside the Summertree community has it's own Home Owners Association and board that enforces the rules of each area and oversees it's own residences. All of these communities, although separate associations are all considered part of Summertree. Some areas offer more maintenance than others but every home has it's landscaping and community amenities included in the maintenance fee.

Retirement communities in Florida are very

popular for people who want a winter residence or a full time retirement residence and Summertree is one of the best communities in the New Port Richey and Trinity area. Contact me if you want to Sell or Buy a home in Summertree whether you are looking for a single family home, villa or condo I can help.