FED is raising rates

Interest rates are expected to go up in 2017. The Fed is forecasting three rate hikes in 2017. What does this mean if you are a home buyer or home seller? Well, potentially its going to cause home prices to stagnate because buyers will not be able to afford the same thing as they could in 2016. With the run up in home prices over the last couple years a cooling off period could be just what this market needs to balance out some. The market is currently extremely unbalanced in favor of home sellers. Currently Hillsborough county is sitting at a 3.1 months supply. There is just not enough inventory out on the market right now which is what has caused the run up in prices. October 2016 showed a 13% year over year rise. Thats a massive increase, yet we still have not reached the same levels as when the housing crash occurred. So in a nutshell, if you are a home buyer or are planning on buying in 2017 you might want to act sooner rather than later. These historically low interest rates aren’t going to last much longer and we are likely not going to see rates at these levels again in the future.

Our team would love to assist you with buying or selling your next home. Don’t hesitate to reach out to us!

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SOLD: 8921 Grand Bayou Ct, Tampa

Looking for a large home? Come see 8921 Grand Bayou Ct, Tampa FL which features five bedroom, three full baths, one half bath and a large bonus room. Located in Tampa’s River Chase Westchase golf community, this home sits on a large lot on a cul de sac backing up to a wooded area. The master bedroom and en suite which features a garden tub and separate glass shower are located on the first floor along with a spacious living/dining combo, kitchen and half bath. The kitchen features an island and eat in space. Upstairs there are four secondary bedrooms and two bathrooms with shower tub combinations. There is also a large bonus room, great for additional living space or entertaining. The utility room is also located upstairs.

 

8921 Grand Bayou Ct, Tampa - River Chase Exterior 1

 

8921 Grand Bayou Ct Tampa River Chase Staged Living Room 8921 Grand Bayou Ct, Tampa - River Chase Entrance 2 8921 Grand Bayou Ct, Tampa - River Chase Entrance 1

 

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SOLD: 5420 Twin Creeks Dr, Valrico

Come and see this well kept four bedroom three bath pool home located at 5420 Twin Creeks Dr, Valrico FL in the Riverhills community. The home is not only located in one of the most well maintained neighborhoods in the area, but is also on an oversized lot on a pond. This home features an open concept floor plan. Upon walking in the front door you enter the dining room and formal area that the current owner is utilizing as a bar area. The kitchen can be accessed from both the dining room and family room. The kitchen features a newer dishwasher and granite countertops. The Family room has a large three panel sliding glass door that looks out onto the spacious lanai and pool. Two of the three secondary bedrooms and one bath, with a shower tub combo are located off of the kitchen. The third secondary bedroom and bath, with standing shower, is located off of the family room in the back of the house. Perfect for in laws or house guests. The lanai and pool can be accessed from the backdoor, family room, eat in kitchen, formal living space, or the master bedroom. The master is located in the front of the house with a his and hers closet and an attached en suite with a stall shower and dual sink vanity. The backyard was recently fenced and landscaped, perfect for little ones or pets. The air conditioner was replaced this year and the exterior of the house was just painted. River Hills also features a twenty four hour manned guard gates. You also can have access to one of the areas best local golf courses and club houses within a short distance of your home!

5420 Twin Creeks Dr, Valrico FL Riverhills - Exterior1

 

 

5420 Twin Creeks Dr, Valrico FL Riverhills - Exterior2 5420 Twin Creeks Dr, Valrico FL Riverhills - Exterior3 5420 Twin Creeks Dr, Valrico FL Riverhills - Interior 5420 Twin Creeks Dr, Valrico FL Riverhills - Interior2

 

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SOLD: 9814 Cristina Dr, Riverview

This gallery contains 4 photos.

Don’t miss out on this beautifully updated three bedroom two bath home located at 9814 Cristina Dr, Riverview FL in the Lakes of Cristina community. As you enter the home you see the exquisite dark hardwood floors and six inch … Continue reading

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SOLD: 10170 Haverhill Ridge, Riverview

**TEXT OR CALL: Chris McGuire at 813-468-6889 for private showing**

Welcome home to 10170 Haverhill Ridge Dr located in Riverview to this maintenance free gated community! This townhouse has three bedrooms with 2.5 baths. All of the bedrooms and two of the bathrooms are located upstairs. The master bedroom is spacious with tray ceilings. The master bath features garden tub and separate shower stall. The downstairs floor plan is very open and has crown molding through out. The kitchen opens up into the living room. The kitchen has all stainless appliances. This home is located on the pond. This provides both privacy and beautiful views from your covered screened patio. The community has a two pools and is minutes away from shopping and dining. The interstate is easily accessible with a quick and easy commute to Tampa. Don’t hesitate this home will not last long! **TEXT OR CALL: Chris McGuire at 813-468-6889 for private showing**

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SOLD: 4725 Somerset Hill Ln, Riverview

Welcome home to 4725 Somerset Hill Ln, Riverview! Located in the maintenance free gated community of Magnolia Park! This townhouse is a two bedroom 2.5 bath with both of the bedrooms and two of the bathrooms located upstairs. The downstairs floor plan is very open. The large spacious kitchen opens up into the living room. The kitchen features all black appliances and cherry cabinets. It is upgraded with granite countertops, glass backsplash, and a large island. There is a screened in patio off through the backdoor of the home. This townhouse is on a lot right on the pond. This provides both privacy and beautiful sunsets from your back porch. The community has a large pool, basketball court, and park within a short distance. This community is minutes away from shopping and dining. The interstate is easily accessible with an easy commute to Tampa. To see or learn more: SEE MLS LISTING

Ask as question about this specific property!

[contact-form-7 id=”1668″ title=”Request”]

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How to find out what you can build on your property

Recently I was asked by a prospective buyer what could be constructed on a piece of property that had sent over to him via his automatic search.  It was surprisingly easy to find out. This post should provide you with all of the information you need to find out what you can build on your property.

This particular buyer was interested in building a large shop to house equipment on a piece of property that had an existing single family home.  The property was approximately .36 acres (15,570 sq ft).  When the buyer asked me whether he would be able to construct a shop on the property I told him, I really wasn’t sure but didn’t see why not.  Erring on the side of caution I also suggested contacting the county to verify with the building department prior to making an offer. Going above and beyond, I contacted the county myself to find out more about this particular property to relay it to the prospective buyer.  This is when I discovered something wonderful  that I want to share with you!

There is a department within the building department at Hillsborough County called Zoning Counseling.  What this department does is provide information and assistance on issues dealing with zoning for properties located in unincorporated Hillsborough County.  The department will explain the uses which are allowed on a particular property and provide information on how to change the zoning or use for a particular parcel of property.  The zoning councilors will also provide parcel setback requirements and any other special conditions which impact the use of the property.  They can also assistance regarding zoning-related code enforcement cases.

After calling the zoning counselor I received a phone call back six hours later and the representative was able to answer all of my questions.  In regards to the property in question she informed me that the shop could only be constructed on the NW corner of the property and that the setback requirements were 3ft on both the N and W sides of the property.  She explained that the setbacks on the S and E sides were 25ft because the property is classified as a corner lot and there couldn’t be anything constructed within 25ft of the roads.  The building could not exceed 15 ft in height.  She also explained to me that the total lot coverage by buildings could not exceed 40% of the total lot size, for this property total lot coverage can not exceed 6,228 sq ft.  Since the existing home was 1,326 sq ft to maximum size of the shop could be 4,902 sq ft.   I was blown away by all of this information and was frantically writing it all down so I could relay to my prospective buyer!  She even gave me her direct number and said she would be happy to assist with the permitting if necessary.  I thanked her for her time, and let her know I would pass this information along to the buyer.

Needless to say my prospective buyer was blown alway by this information and was  grateful.  This is a tool that can be utilized to assist in getting a general idea for the best use of any given property, you would still need to get a permit and the county could still say no to a  project.  I have included a link above to the departments webpage.  I suggest checking it out if you’re considering a property and have intentions of adding or changing parts of the property.

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November 2015 Real Estate Market Update

I believe it is important to know the local real estate market if you are planning to buy or sell a home. That is why each month I research real estate statistics specifically for single family homes in Hillsborough county. Contact us if you have questions regarding the local real estate market or would like to get a custom market analysis specifically for your home. See the data for November 2015 below on our market report spreadsheet. We can break these numbers down specifically for your neighborhood. Click here for custom market analysis for your home. McGuire Real Estate Team – Tampa Bay, Florida – 813-468-6889

November 2015 Tampa Bay Real Estate Market Update

The average sale price for November 2015 had an increase of 11.1% for Hillsborough county when compared to sales last year! The average sale price in November 2015 for single family homes in Hillsborough County was $247,691.

Active inventory for the month of November decreased 7.2%, when compared to last year, to a total of 5,133 homes. Inventory remained relatively unchanged from last month. Hillsborough county’s Sellers Market continues with the Months Supply of Inventory dropping to 3.4.  If you are thinking of selling, NOW IS THE TIME! Inventory is down 20% so there is less competition out there.  If your home is desirable and priced right it will sell quickly!

There were 1215 single family homes in Hillsborough County sold in November 2015.

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The Highlands by Pulte Homes in Valrico – Inventory update

The Highlands is a new construction community being developed by Pulte Homes in Valrico FL. There is only one move in ready home, the community will not have any other inventory home until March of 2016. The available home is the Boardwalk and priced at $279,090 with $10k in incentives.  If you would like more details please message me or call.

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Toy Drive benefiting LOCAL KIDS in need

Toy Drive Brandon Boys and Girls Club

Toy Drive Benefiting Boys and Girls Club of Brandon

The McGuire Real Estate Team is hosting a toy drive benefiting the Boys and Girls Club of Brandon.

From now until December 15th you will be able to stop by my office in Fishhawk and drop off unwrapped gifts for the children ages 9-12. Suggested price range is $20-30. If you aren’t able to pick up a toy but would like to help support this mission you can do so by donating money and we will pick up gifts for the kids. We need your help in making this a Christmas to remember for these boys and girls. Please help us help them!

Office Location for drop off: Keller Williams – 15268 Fishhawk Blvd, 33547

If you would like to mail a check please send make out to Chris McGuire and send to PO Box 2761, Valrico FL 33595. Please write in the memo line Boys and Girls Club Toy Drive.

Thanks so much and we hope to hear you have a great Holiday and Christmas!

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