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Wesley Chapel, FL

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Palm Cove - New vs Resale heats up...

10-31-09
Scott Wells
Scott Wells: Real Estate Agent in Wesley Chapel, FL
  • view my blog
  • Office: (800) 975-0030
  • Mobile: (813) 961-6405
  • Secondary: (813) 975-0030

MI and Ashton Woods are building some solid offerings and are working hard on price. The occassional foreclosed home in here gets mutliple bids, but most are really worth it... No CDD...Low HOA...Nice Amenities... Country setting but close to everything...

This is a great place to consider in the Wesley Chapel Area just off of Boyette Road...

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Variety is still Key in Seven Oaks

10-31-09
Scott Wells
Scott Wells: Real Estate Agent in Wesley Chapel, FL
  • view my blog
  • Office: (800) 975-0030
  • Mobile: (813) 961-6405
  • Secondary: (813) 975-0030

From Brand New Townhomes that start at 130k by Mercedes (1300+ sq ft with a garage) to 750k+ single family homes (Almost 4000 sq ft). This community is really a bright spot on the county line between Hillsborough and Pasco Counties and right off of I75. This community has great amenities, is well landscaped, and it has a number of new builder, resell, and distressd homes to fill any appitite..

Of particular interest are single family homes starting around 150k...Bank owned homes and resells priced to sell get multiple offers in this community so buyer need to understand that at the low end homes go fast..This might be a place where a well done shortsale might yield value...

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Ashton Oaks...Builder Leave but the community remains

10-31-09
Scott Wells
Scott Wells: Real Estate Agent in Wesley Chapel, FL
  • view my blog
  • Office: (800) 975-0030
  • Mobile: (813) 961-6405
  • Secondary: (813) 975-0030

Kimball Hill left Florida, but they completed a lot of nice single family homes and attached villas right off of State route 54 nearjust a couple miles East of I75... This community has the advantage of no CDD and relative small HOAs ... Seller's probably don't have equity yet, but it might be worth a free market valuation...Not much Inventory of resales yet for bueyrs

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Bridgewater is Coming Alive...

10-31-09
Scott Wells
Scott Wells: Real Estate Agent in Wesley Chapel, FL
  • view my blog
  • Office: (800) 975-0030
  • Mobile: (813) 961-6405
  • Secondary: (813) 975-0030

Multiple Foreclosures and a huge investor percentage had lots of folks down on this beautiful watered neighborhood off Curley Road in Wesley Chapel...While these things are corrected overnight, I am seeing more and more of these Lennar built homes closing with primary occupant home owners.

This are has the benefit of being in the mapping area for the USDA/RDA 100% financing program (If you don't know what this is feel free to call...Its worth knowing about)...

The Neighborhood still has a huge number of shortsale homes, Investor owned homes, and foreclosures in 2010 are very likely, but price for size and features are great here... Ownership/HOA Cost is very high here when you compare it to the limited amenities...

Seller's that bought new will likely want to hold on a while before selling, Seller's that bought REO in the last 2 years might want a market analysis, Buyers looking for a new home that can be bought fast might like this option..

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Meadowpointe Outlook...What to expect

10-31-09
Scott Wells
Scott Wells: Real Estate Agent in Wesley Chapel, FL
  • view my blog
  • Office: (800) 975-0030
  • Mobile: (813) 961-6405
  • Secondary: (813) 975-0030

Townhomes are finally starting to move in Meadowpointe but the pricing is still taking a beating with shortsales in the late 60-70s...I am seeing non-shortsales that could close fast going much closer to 90-100k...Have to start worrying about appraisals on regular sells since the REOs and Shorts are destroying comparable pricing..Only sell with equity or a real reason

Villas - Much the same problem as townhomes...REOs as low as low 100s and shorts in the same range have really hurt sales...Non-shorts that can sell quickly are running into single family pricing... Wth the smaller price spread between villas and non-attached single family is making it more important to stress the benefits like maintenence free living...Only sell with a real reason

Single Family - REO is getting more rare...Shortsales are erratic and I believe that it is time for single family to start to shine... Price should stabilize and might see a small bump if the credit is extended, but that window would close fast ... Will have a sells window in late 2009-early 2010 where pricing will likely bump...If you are thinking of selling in the next few years now might be the time to get a market analysis

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