All posts by Lance Lubin

About Lance Lubin

Lance Lubin is a Real Estate broker and lifelong resident of sunny St. Petersburg Florida. He and his wife, MJ (along with their associates) comprise The Lubin Team, working in St. Petersburg, Pinellas County, and the Tampa Bay area. If you have a real estate need or just want to find out more about the area, give them a call. 727 410-5696

Place A Wager At Derby Lane

Race to Derby Lane, St. Petersburg, FL

Derby Lane, St. Petersburg

It sits there silently as you drive past, on the edge of Tampa Bay. Except for a few fishing shacks, it was the first developed property on Gandy Boulevard, carved out of pines and palmettos, an outpost at the edge of St. Petersburg’s city limits. Derby Lane, Florida’s top greyhound racing facility, has been there since 1925. Continue reading

St. Petersburg College-Programs for all ages

St. Petersburg College

St Petersburg College
St Petersburg College

 For more than 85 years, St. Petersburg College (SPC) has impacted the lives of tens of thousands of people from every walk of life in the St. Petersburg-Clearwater area. If there’s one institution here that is genuinely beloved and that local residents are genuinely proud of, it’s St. Petersburg College. As a boy, I played bike tag on the campus, as a grown up, I’ve taken classes there just for fun. Continue reading

Really Fun Blog about St Pete by John Malik

We read this blog on Huffington Post by a fellow named John Malik. It is really delightful, especially for people who live in St. Petersburg. You get to see it from someone else’s perspective. It makes us fall in love with this city all over again.

Read John’s blog here:  http://www.huffingtonpost.com/john-malik/ill-have-stpete-with-a-sq_b_5138259.html

You can follow John on twitter http://www.twitter.com/chefjohnmalik

The St Petersburg People’s Fair – Circus McGurkus

  CIRCUS McGURKIS – THE PEOPLE’S FAIR     ST PETERSBURG, FLORIDA

[youtube]http://www.youtube.com/watch?v=HAhzbuF2hh0&feature=share&list=UUA2m5vXxhcUjGxeE9N0EPJg[/youtube]

Circus McGurkis continues to be a remarkable St. Petersburg tradition after more than four decades. It’s a celebration of our community’s creativity, activism, and beauty. Every October, Circus McGurkis highlights arts, crafts, music, games, and ideas with a special focus on activities for children and families of all ages. Continue reading

Report: U.S. Home Prices on the Rise

Real Estate dataThere’s good new for homes sellers all over the United States, and specifically in the Greater St Petersburg and Tampa Bay area.  Home prices are rising. This is according to a recent report from the real estate researcher CoreLogic.

Over the past year, from April 2012 to Aril 2013, gains occurred in 48 States.  Just like Lee Greenwood sang in the song “God Bless the USA”…      “From the lakes of Minnesota, to the hills of Tennessee, across the plains of Texas, from sea to shining sea. From Detroit down to Houston, and New York to LA”.

Home sellers who were underwater are starting to come up to the surface and see the sunshine.  In Florida home values increased 10.5%.  Hallelujah! 

 

                                    Rise in  Home Prices Encourage Sellers

Graph

Top in the Nation was Nevada. Home prices went up a whopping 24.6 % from 2012.

Rounding out the top five list were:

  • California (19.4 percent)
  • Arizona (17.3 percent)
  • Hawaii (17 percent)
  • Oregon (15.5 percent)

What’s causing this?

There has been a lot of pent-up buying energy, as buyers waited for the market to hit bottom. Now that it has turned, and mortgage interest rates are starting to rise, more buyers are realizing that now is the time to buy.  The total number of homes for sale is 14% lower than it was last year.  It’s one of the oldest stories in the world…more demand creates less supply and prices rise.

Experts are counseling sellers who have been sitting on the fence that now is the time to put their property on the market. The news for sellers is better now that it’s been for quite some time.

National Housing Market

Even with this booming market for sellers, they still must realize the importance of proper pricing.

Homes priced at fair market value sell quickly, at or above full price. Overpriced homes sit on the market for weeks or months. One of the first questions buyers ask is  “How long has this home been on the market?”  This does not only apply on a national basis. It’s just as true for St. Petersburg homes and condos, and the rest of Tampa Bay real estate as well.

A seller needs to be informed about current market conditions. Here are some statistics about the national housing market:

  • The National Association of Realtors recently reported that sales of previously occupied homes reached a 3.5 year high in April.
  • In April, the total number of signed home purchase contracts rose to its highest level in three years.
  • Home builders are gaining confidence in the market, with building permit applications increasing in April to their highest level in almost five years.
  • In 94 of the 100 largest U.S. cities, home prices increased during the month of April. During the previous month, that only happened in 88 cities.
  • Los Angeles and Phoenix saw the biggest price gains in those 100 cities, with both seeing a 19.2 percent year-over-year increase in home prices.
  • Atlanta and Riverside-San Bernardino were runners-up in terms of price gains. Both saw 16.5 percent year-over-year increases.
  • Dallas saw the third highest price gain in the country, with a 10.2 percent increase.

While this is good news, there’s still a way to go before prices rise back to where they were during the “gold rush”. Nationwide prices are about 22% lower than in April 2006. Florida is one of the five states that is still farthest away from the peak values.

Keeping Watch on the Tampa Bay Housing Market for You

Right here in Pinellas County, according to the Pinellas Realtor Organization, combined residential and condos/townhomes closed sales have increased 16% over last year.  Good news for condos and townhomes is that foreclosures are down 15.5%, and short sales are down 41.2%. The results in Pinellas County single-family homes, however, are a little mixed. While short sales are down 24.9%, foreclosures are up 44% since last April. It will still take a while to cycle through the amount of foreclosures in our Pinellas County real estate market.

 

Bottom Line

Is it time to sell? Yes
Is it time to buy? Yes

If you are thinking of either buying or selling real estate, check back here often. We will provide you with information that will help you turn the market to your advantage. Want more information right now? Click here