Spring Hill, FL

April brings good news for sales activity in the Timber Pines Country Club community in Spring Hill, Florida.

For the second month in a row, sales increased in Timber Pines over those in February 2009. Closed transactions for March 2009 increased by 100% for single family homes and by 30% for villas.

With a total of 186 active listings, available homes decreased from February numbers in both categories. Pending and contingency contracts for single family homes have increased but decreased by a slight margin for the villas. Yet, overall more homes are under contract this month than last month.

Sales prices have also increased in the median and average prices while market day has decreased signifantly again illustrating that a well-priced property can be sold in a reasonable time frame.

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.

1. Single Family Homes:

Sold March 2009: 8

Price Range: $80,000 - $245,000

Average: $158,125

Median: $158,000

Average Days on Market: 80

Currently Active Listings Single Family Homes: 111

Price Range: $79,900 - $399,000

Average: $170,634

Median: $155,000

Average Days on Market: 174

Under Contract: 9

Pending: 57, Price Range: $114,900 - $187,000

Contingency Contracts: 2, Price Range: $124,900 - $189,000

2. Villas:

Sold March 2009: 6

Price Range: $75,000 - $140,000

Average: $118,750

Median: $125,000

Average Days on Market: 187

Currently Active Listings Villas: 75

Price Range: $78,000 - $215,000

Average: $134,198

Median: $135,000

Average Days on Market: 204

Under Contract: 9

Pending: 9, Price Range: $119,000 - $159,900

Data derived from Hernando County MLS as of 4/2/09 and believed to be accurate but not guaranteed.

---

If you are thinking about buying a home or land for personal or investment use, or you are thinking about selling in Hernando County, Florida, including the communities and neighborhoods of Hernando Beach, Weeki Wachee, Brooksville and Spring Hill, Glen Lakes, Timber Pines, Silverthorn, Seven Hills, Sterling Hill, Pristine Place, and Southern Hills Plantation and you want to work with a local area Realtor who knows these neighborhoods please contact me.

Let me help you find your place in the Sun!

Today I almost had a flash back to a few years ago. Back then, buyers desperately trying to find a home would bid above the listing price and often more than one offer would be submitted on the same property on the same day ensuing in a price war (although in reverse if you want to stay true to the definition).

I'm currently working with two sets of customers: one an investor who would like to add to his rental portfolio trying to pick up inexpensive units. The other a young couple, first time homebuyers as such, who are looking for an affordable home.

Both are looking are REO properties of which there are many at good prices. Customer 1 feels he still needs to bid quite below list price to get a "deal". Customers 2 are putting in viable offers but get discouraged when they learn that there are other offers on the same property.

In both cases, these customers are competing against other buyers looking for much of the same thing: good homes at affordable prices. Almost every time, numerous offers are submitted on the same property and of course the highest and best offer is accepted which most of the times is above the list price.

Buyers have been conditioned in the last couple of years to make lower offers than the asking price, and once again as Realtors we have to inform our customers of the changing rules in changing circumstances.

Yes, it is still a buyers market. However:

• there are now many buyers
• prices are at an all time low
• buyers come with cash or preapproved loans
• when more offers than one come in on the same property, you may get a second chance to better yours, then again,
• when more offers than one come in on the same property, you may NOT get a second chance to better yours
• effectively buyers are once again competing with each other,
• good, well-priced homes do NOT stay on the market very long, and
• homes are now selling above list price.

If this trend continues, home prices will increase again, although at a much slower pace than they did those few years ago, yet eventually, the market will turn away from favoring buyers putting sellers in a somewhat stronger position once again.

---

If you are thinking about buying a home or land for personal or investment use, or you are thinking about selling in Hernando County, Florida, including the communities and neighborhoods of Hernando Beach, Weeki Wachee, Brooksville and Spring Hill, Glen Lakes, Timber Pines, Silverthorn, Seven Hills, Sterling Hill, Pristine Place, and Southern Hills Plantation and you want to work with a local area Realtor who knows these neighborhoods please contact me.

Let me help you find Your Place in the Sun!

Jake is my English Mastiff who had his 7th birthday in January. Unfortunately Mastiffs don't have a very long life span. They are truly gentle giants. I've learned a lot from Jake. He likes to lay on soft things - it makes sense to me. He greets everyone with a happy face. He is always happy! I have learned if I greet people with a happy face - that is what I will get in return.

He gets a lot of rest so he is always refreshed. I learned if I get my 8 hours of sleep at night - I'm much more able to tackle the stresses of the day.

He drinks water and limits his calories. I'm working on that one!

He always looks forward to seeing me when I get home. He sits in the front window with his head on a table watching for my car. That is love. He's very loyal. He never leaves me alone in the living room at night. He naps while I take care of last minutes details. Then he will follow me to bed. He has shown me what its like to be a friend.

Jake won't be with me forever but for the years I have left with him, I will hug him every day and tell him how much I love him. He does the same only without words. I think if we could be more like our pets, it would be such a better world. I wish I knew how to post pictures because I would let you see his beautiful face. He has a step sister - Stella. She's a newfoundland and he doesn't care. He loves her and enjoys playing with her. He accepted her into our family with a wagging tail and a happy face. He received the same in return.

Timber Pines, a 55+ gated golf course community in the heart of Spring Hill, FL

Timber Pines Country Club community consists of approximately 3500 privately owned homes and villas ranging from 1 bedroom/1 bath villas to 4 bedroom homes. Built between 1985 and 1998 by US Homes, units are resident owned.

The Timber Pines Country Club community offers its residents a variety of amenities including two swimming pools, tennis courts, club house, activities and clubs, performing arts center, and not to forget several golf courses that include a 18-hole Championship golf course, all in all 63 holes to put a golf ball in!

As expected, number of closed transactions in Timber Pines for February increased overall with four single family homes and five villas transferring to new owners. 64% of homes that were reported to be under contract in January closed in February. Total number of homes currently under contract has increased by 20% from 14 last month to 17 this month.

As many of our winter residents are now faced with either returning to their northern home states or staying in the warm Florida sun, they might consider buying a permanent winter home in this area especially with prices being as low as they have been in years.

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.

1. Single Family Homes:

Sold February 2009: 4

Price Range: $125,000 - $171,000

Average: $144,250

Median: $140,500

Average Days on Market: 198

Currently Active Listings Single Family Homes: 116

Under Contract: 10

Pending: 5, Price Range: $114,900 - $255,750

Contingency Contracts: 5, Price Range: $85,500 - $189,900

Average Price Under Contract: $154,625

Median Price Under Contract: $146,700

2. Villas:

Sold February 2009: 5

Price Range: $90,000 - $174,000

Average: $127,200

Median: $120,000

Average Days on Market: 334

Currently Active Listings Villas: 81

Under Contract: 7

Pending: 5, Price Range: $80,000 - $157,000

Contingency Contracts: 2, Price Range: $149,900 - $150,000

Average Price Under Contract: $137,329

Median Price Under Contract: $149,900

Data derived from Hernando County MLS as of 8/8/09 and believed to be accurate but not guaranteed.

---

If you are thinking about buying a home or land for personal or investment use, or you are thinking about selling in Hernando County, Florida, including the communities and neighborhoods of Hernando Beach, Weeki Wachee, Brooksville and Spring Hill, Glen Lakes, Timber Pines, Silverthorn, Seven Hills, Sterling Hill, Pristine Place, and Southern Hills Plantation and you want to work with a local area Realtor who knows these neighborhoods please contact me.

Let me help you find your place in the Sun!

Hernando County Real Estate Market Report: February 2009

Real Estate sales numbers are in for February 2009.

Compare these February numbers to those of January 2009 and you will find that the number of sales transactions has increased and the sales price range also expanded albeit in both directions, up and down. While buyers are still looking for bargains, it is encouraging to see that they are also looking and buying in the upper prices ranges. Likewise, the number of homes under contract and pending also have increased by nearly 30%.

Vacant land sales remain at previous levels. Forty percent of lot sales for February were for waterfront properties, again an encouraging number for waterfront lot owners who are looking to sell --- provided they are priced correctly! The highest sales price achieved for vacant land was for a property with direct frontage on the Gulf of Mexico, certainly a prime property, and considerably bringing up the average sales price achieved in February.

Hernando County Market Snapshot

1. Homes:

Active Listings: 3011,

Sold February 2009: 119 (increased 22% from January 2009)

Price Range: $17,500 - $430,000

Median: $95,000 (decreased $7,000 from January 2009)

Average: $106,861 (increased $2,221 from January 2009)

Average Days on Market: 159 (increased 50 days)

Currently under Contract: 392 --- Of those 101 with Contingency, 291 Pending (an increase of 108 from January)

2. Vacant Land, Residential only:

Active Listings: 2530

Sold February 2009: 10 (a decrease of 17% from January)

Price Range: $5,000 - $300,000

Median: $17,500

Average: $55,125

Average Days on Market: 88

Currently under Contract: 35, of those 8 with Contingency, 27 Pending.

Data derived from Hernando County MLS as of 3/1/09, believed to be accurate but not guaranteed.

Sold in Spring Hill February 2009:

2/2/2 Pool Home

Built in 1986, 1323 sf Living

Foreclosure

Sold for $62,000 Cash

If you are thinking about buying a home or land for personal or investment use, or you are thinking about selling in Hernando County, Florida, including the communities and neighborhoods of Hernando Beach, Weeki Wachee, Brooksville and Spring Hill, Glen Lakes, Timber Pines, Silverthorn, Seven Hills, Sterling Hill, Pristine Place, and Southern Hills Plantation and you want to work with a local area Realtor who knows these neighborhoods please contact me.

All content, is the exclusive property of Silvia Dukes, P.A., and may not be used without the expressed written permission of Silvia Dukes, P.A., Tropic Shores Realty, Spring Hill, Florida. All information is believed to be accurate but is not warranted, Copyright 2009.