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Old Northeast Market Update – Part 2

Southwest Quadrant of Old Northeast

Old Northeast Quadrant 1

As we said in yesterday’s introductory post, the Old Northeast neighborhood has very distinct sections. To start with our individual analyses, we’re looking at the area from 4th Street N east to 1st Street N, and from 5th Avenue N north to 22nd Avenue N. It’s not the “sexiest” part of the neighborhood, but it’s often where you can get “more bang for your buck.”

The homes in this area tend to be a bit smaller, with a vast majority being the cute bungalow style. Particularly as you get closer to busy 4th Street, there are not as many homes that have been remodeled as in other parts of the neighborhood, which contributes to a lower average sale price (currently $327,359 for 2013 year-to-date, 29% lower than the Old Northeast as a whole, and 38% lower than the quadrant east of 1st Street).  Read the rest of this entry »

Spoken by Tami Simms | Discussion: No Comments »

Charming bungalow in Uptown sold to happy buyers

Terry

Notes from Rob:

Rob’s Sale #16 for the year – Uptown neighborhood of St. Petersburg.

The Simms Team received a call in May from a couple in Tampa looking for a house in St Petersburg.  For what they wanted, it looked like we would be playing the short sale game.  By the begining of June, we found the house and made our offer.  Believe it or not, we faced multiple bids, but ours came out on top.  Then the waiting game began.  By the end of September we had heard from the bank and they had agreed to our office.  Then came all of the lender issues.  The lender was  Bank of America that we had used many times before, but this time everything became an issue.  After the appraisal, we had the list of items that needed to be repaired before closing…of course they told us this one week prior to closing, so it was a rush to get everything repaired, and reinspected by the appraiser.  My clients were anxious and wanted to move in already.  Finally, everything came together and we were able to get the sale completed.  The work involved these days from contract to closing is unbelievable.  I was talking to another agent this morning –   she put a house under contract yesterday with a scheduled closing of December 21st, with FHA financing.  I wish her luck, as I would be skeptical of having an FHA loan go through  in less than three weeks during the Christmas season.   I’ll be watching to see what happens.

Spoken by Rob Johnson | Discussion: No Comments »

Bungalow

Notes from Rob:

Craftsman bungalow - new with the charm of old

My tenth sale of the year just happened – probably the most unexpected sale of the year for me.  In October 2006 we met with Dan Karcher of Dan Karcher Construction.  I had seen several homes that he had built in Snell Isle:  very nice, million dollar waterfront homes.  He had just built two new bungalows.  They were both fabulous little homes.  Three bedrooms, two bathrooms, granite counters throughout, hardwood floors, upgraded appliances, and even a white picket fence out front.  After meeting with Dan, our team agreed to help him sell the homes.

Unfortunately, from the time Dan started his project to when the homes were finished, the market changed dramatically and the location made them a hard sell.  As time went buy, Dan agreed to rent the bungalows and ride out the market.  Recently, the tenants moved out of one of the bungalows and Dan decided to put it back on the market, rather than rent it out again.  Before we knew it, we had an offer on the house and six weeks later the sale closed and we had another happy client.  I think the buyers got a great deal and Dan was happy to finally sell the bungalow.

Talked to Dan this morning.  I have another client looking to buy a short sale home that was not quite completed.  Dan is going to talk to my client about finishing the house for him.  All I know is that if Dan Karcher Construction finishes the house, it will be a work of art when it is completed.

Spoken by Rob Johnson | Discussion: No Comments »

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