Spring Hill, FL

January 2010 Real Estate Market Report: Timber Pines, Spring Hill, Florida

Inventory of Homes for sale in Timber Pines, Spring Hill, Florida has increase slightly. There are 50 maintenance-free villas and 93 single family homes available for sale in the Timber Pines Country Club community. Only two properties offered for sale are short sale properties, there are no REO/foreclosure properties offered for sale in the Timber Pines community.

The number of homes sold in January 2010 in the Timber Pines community decreased in January mirroring home sale numbers for Hernando County in general. None of these sales were distressed sales.

Number of homes under contract increased in Timber Pines. Seven properties are pending and 10 properties are with contingency contracts. Again, none of these are distressed sales.

Sales performance in the Timber Pines Country Club community continues on a steady path. With prices only slightly fluctuating from month to month, home sellers values in the Timber Pines community are relatively stable.

The Timber Pines community experiences much lower levels of distressed sales than in Hernando County in general. Among the currently offered homes for sale in Timber Pines, only two single family homes are short sales and there are no properties marked as REO.

Actively Listed Homes for Sale in Timber Pines: 143

Single Family Homes: 93

Price Range: $89,999 - $324,900

Average: $160,315

Median: $148,800

Villas: 50

Price Range: $54,900 - $160,000

Average: $112,298

Median: $119,900

Number Properties under Contract: 17

Pending Contracts: 7, Contingencies: 10

Total Transactions Closed January 2010: 9

Price Range: $94,000 - $210,000

Average: $127,111

Median: $107,000

Single Family homes: 6:

Price Range: $94,000 - $210,000

Average: $141,500

Median: $132,500

Villas: 3

Price Range: $95,000 - $100,000

Average: $98,333

Median: $100,000

Timber Pines is a 55+ Country Club community offering an active life style with several golf courses, two community pools, Activities Center, Clubhouse, Performing Arts Center, as well as many social clubs and events. The community is a gated community with an park-like ambience and 24-hour security.

Timber Pines is located off US 19 in Spring Hill, West Central Florida on the Gulf Coast of Florida, also called the "Nature Coast". Tampa International Airport is just a 45 min drive via the new Suncoast Parkway.

Data derived from Hernando County MLS as of 2/7/2010 and believed to be accurate but not guaranteed.

VIP Distinguished Speakers Forum on World Affairs - Tampa Bay Council of World Affairs

"This time we got it right"

Remark by General David H. Petraeus in reference of how the troops are treated at home in comparison to those who served in Vietnam further elaborating that people may or may not approve of the military engagement but they do support the troops in many ways.

Yesterday evening, I had the opportunity to attend a great evening sponsored by the Tampa Bay Council of World Affairs in conjunction with the U.S. Global Leadership Coalition. As part of their VIP International Distinguished Speakers series, General David A. Petraeus, Commander of US Central Command (US CENTCOM), was the keynote speaker.

Entitled "A Conversation with General David Petraeus", the general spoke about The Role of our Civilian Tools in 21st Century Security. The discussion was moderated by renowned CNN Special Correspondent Frank Sesno and concluded with the audience given an opportunity to ask questions.

The invitation-only event drew an impressive audience of approximately 600 attendees of political and business leaders, ambassadors and consul generals, as well as US Centcom members some who traveled from other States to attend this remarkable events. Altogether, there were representatives of 48 nations in attendance.

The Tampa Bay Council of World Affairs provides "a forum for global dialogue" and conducts various speaker forums on world affairs, trade, socio-economic, cultural, and political issues and offers international networking events as well as a way to stay informed on global affairs.

Rotary Club of Spring Hill Florida Celebrates 20th Anniversary

The Rotary Club of Spring Hill, Florida, celebrated its 20th Anniversary on Sunday, January 31, 2010 with an open house reception at the Boston Cooker Restaurant in Spring Hill.

The event had been planned for months ahead by the club and all current, former, and prospective members were invited. Special guests in attendance were Past District Governor Robin Murray and his wife Dee who hailed from Pasco County.

The Rotary Club of Spring Hill is part of Rotary International, a worldwide service club organization. We are a breakfast club and meet every Thursday morning at 7:45 AM at IHOP, Commercial Way, in Spring Hill. Guests are always welcome! Please contact me for more information about the Rotary Club of Spring Hill!

This beautifully updated and remodeled golf course home in the Spring Hill Oak Hill Golf Course Community recently sold.

List Price: $249,900 Sold Price: $235,000 Conventional Financing

4 Bedrooms, 2 Baths, 2 Car Garage, heated Pool

Living: 2392 sq ft Total: 5404 sq ft

Lot size: .49 acre backing up to Oak Hill Golf Course

Golf course views from rear and front of property!

For more information about this home or any other homes for sale in the Oak Hill Golf Course community, please contact me!

I hate to be the type to rant and rage but I feel I have to get something off of my chest here,

Recently I have had to explain to an agent why it is that the closing will be delayed, and tried to educate that agent regarding all the new RESPA changes that have taken effect as of January 1st 2010. Now I have had several deals effected by the changes in RESPA, and for the most part I found everyone I am doing business with to be very understanding and cooperative. There is one in particular though who is the furthest from being agreeable to anything. After spending at least 30 minutes trying to explain what it is that lenders are now up against, the only response this individual seemed to be able to elicit was a 15 minute campaign of screaming and yelling. In between the screaming and yelling they did manage to have a few coherent words that sounded something like a 2ND grader telling another student that they are big stupid head. I mean really, who do you think you are helping by behaving this way? I can not help that the new RESPA laws was issued with virtually zero guidance and that all the brokers, lenders, and banks themselves have spent the last week working with legal teams trying to decipher these new regulations. I can not control that there are new procedures in place now that prohibit lenders from ordering any 3rd party services until other disclosures and time-lines have been met.

Personally I think the new RESPA laws are a joke. I also think it is a joke to have this come out with out enough guidance and education for the entire industry so that we would have all been better prepared for these changes. The biggest thing that is a joke to me is that we are no longer allowed to ask for any documents from a borrower until after a GFE has been disclosed, and accepted by the borrower. I mean really how can anyone prepare an accurate GFE based on information that is only given verbally? In a perfect world all borrowers would be able to tell us exactly to the penny how much they really earn, but in the real world very few people can make the calculation accurately on there own. For ever 9 out 10 applications, when we get the income documents from the borrower the income ends up being slightly different than what we anticipated. For some this is not big deal, but for other a change in even $100.00 per month, can result in a different lender or a maybe even a denial. This is because Debt Ration tolerances are not what they used to be, and the difference between a Debt Ratio of 49.99% and 50.01% can now mean a sure denial of credit. Not mention that the change from one lender to another can also mean a change in fees. Under the new RESPA laws, once a GFE is disclosed the fees associated with Origination which include underwriting can never be changed. So if bank A has and underwriting fee of only $295.00 and bank B charges $795.00 good luck getting the second lender to accept the GFE. I do not see them being so nice that they will accept loans for less than what their charges are. Under these circumstances the only way to make it right is for the Broker/Lender to eat the difference, and that will only go so far. For those of us still in business, we are already faced with the challenges of limitations on fees, new disclosure requirements (I am all for new disclosures, but trust if it took a 20 year veteran all day to understand the new GFE, your borrowers will never get it) but how much more burden can you put on a broker? Eventually your cost of doing business will exceed the profit you can even earn. I guess then everyone just becomes unemployed and all the staff can be yet another victim of the economy and the governments inference with business. The good news is unemployment keeps getting extended so the rest of you will enjoy paying for it.

Anyway, back to my original point. I am really angry at the fact that some agents are just plain old horse's asses! I mean really, I calling to explain to you the changes. You can tell from not only my words, but also the tone in my voice that it has been a frustrating day trying to navigate these changes. I have told you what has been done to address the changes implemented, how it is being handled and what will be done next. I am sorry that the appraisal could not be ordered the day you wanted it, but we are adhering to the new laws with specific time lines for things to be done. We have been hit with a zero tolerance policy from HUD and the Fed. I do not care how much of a jack ass you want to be, I do not care how much you scream and yell, I do not care how much you want to bash me to other agents in your office ( I know you will, because I know your type). I still will not break the law, not for your seller, and definitely never for you! You are the antithesis of team work, you give everyone in our business fighting to keep productive and fighting for our clients a bad name. I will not name you, and I will not continue to say anything more. I just simply hate the fact that some agents have to behave in an unreasonable manner. By the way, your refusing to educate your sellers about these new changes will not help them. Weather you are dealing with me or anyone else, the rules will remain the same. Expect time lines to get a bit longer, and expect the next 90 days to have delays as the entire industry adjusts to these changes.

I will be writing another post later with detailed explanations of the new RESPA rules and how it will effect not only us as agents but more importantly our buyers. Stay tuned for updates on the new rules. I will do by best to keep everyone informed.

Steve Fingerman

Tropic Shores Realty

http://www.stevefingerman.com

http://www.myloanmodificationstation.com

http://www.FHAforALL.com