New Construction Homes in Spring Hill – 1965 SF Living for Only $134,900 (Includes the Lot!)There are 5 lots currently available on which you can build one of these fantastic Hartland Homes for only $134,900This would be a new build project and according to my good friends at Hartland Homes the build will take 3-5 months from the time you sign the paperwork (timeframes are largely dependant on permitting). If this sounds interesting, call me on my cell phone at 352-397-5182 or email me at Josh@HernandoLuxuryHomes.com and we’ll get you all set up! You could potentially be in your brand new home in as little as 3 months! The map below shows the 5 lots currently available at this price. Click on the map markers (in blue) to get tax records as well as a Street View of each property.Again, if this sounds interesting, call me on my cell phone at 352-397-5182 or email me at Josh@HernandoLuxuryHomes.com and we’ll get you all set up!Bookmark This Post
Christmas in Hernando County, FloridaSaw a fantastic article by Michael D. Bates in the Hernando Today newspaper…Here’s an excerpt that I thought was worth sharing…
To be fair, the article also had a list of 10 things you CAN’T do during the Christmas Season here in Hernando County…but you’ll have to go to the original article to read that part. Bookmark This Post
Loan Modifications…Looking Back – How’re We Doing?This post came about after reading this article at CNNMoney.com about how we’re doing with the Loan Modifications. I’ve said it before, and I’ll say it again (and you don’t have to like me for it…but I feel it’s the truth). Capitalism must be allowed to play itself out. You cannot change the rules of a game that is already set in motion and so indoctrinated into the very fabric of our economy it might as well be likened to Gravity in Nature. Bailouts, whether for the financial industry, or the auto industry, or any other industry are band-aids…short term fixes that wear off and lose their stickiness after a relatively short time. The problem – as I’ve said before is that we’ve got a broken leg, and you can’t fix that with a bandaid. A broken leg must be re-set (and it’s going to hurt, big time) and then allowed to heal over time if it’s ever going to mend properly. Do I feel bad for the people losing their jobs in the auto industry and the people who are losing their homes to foreclosure? Absolutely. They are the casualties and unfortunately most of them had no say in how it went down – the blame and fault doesn’t lie with them. But regardless of how I may feel about them and their situation, companies that make cars that people don’t want to buy are supposed to go out of business. Companies that are mismanaged to the point where they need BILLIONS of dollars in taxpayer money to sustain them for just a few months are absolutely supposed to go out of business. People who bought a home they couldn’t afford because they thought they’d be fine and able to figure it out the details later CANNOT keep their homes (as much as we’d all like that to be the case…). That’s trying to cheat the game…it’s trying to work against gravity…but gravity is a natural law…it’s the rule of the game…you can’t change it and fighting it will only put you in a worse position than you were in beforehand. Does it hurt? Like setting a broken leg – yes it does. Is a bailout going to help? In the short term – perhaps…in the long term…absolutely not. Funds transferred to a company that is unable to turn a profit are not funds well-spent. Even if it keeps you in business for an extra 4 months. Loans modified to help you keep the house you couldn’t afford to begin with…? While it may “feel” better in the short-term…it’s a band-aid on the American Economy’s broken leg…and that’s NOT helpful in the long run. Capitalism…this game…must be allowed to run its course…as much as it hurts to do so – it will hurt more if we try and reverse gravity. Bookmark This Post
Government Funds for Neighborhood Stabilization Coming to Hernando CountyAre you tired of looking at that broken-down foreclosure across the street with the waist-high weeds and broken window? You may not have to worry much longer! Hernando County is now eligible for up to 5.6 Million Dollars in Federal Aid to help mitigate the foreclosure situation and repair/restore some of those broken homes.
My understanding is this…Government gets up to 5.6 Mil to purchase homes that are in foreclosure and/or blighted (unliveable) in Hernando County. The government can then either rehab the homes and sell them, or tear them down and either rebuild the home or sell the dirt. 25% of the funds must be used specifically for low-medium income housing (families whose incomes do not exceed 50% of the median area income). The homes that are not re-sold will most likely be rented out. The purpose of this program is to stem the tide of this declining market….but is it really going to help? I’m not 100% convinced…I definitely get the intent and it’s noble and good and whatnot…but let’s use an example to illustrate my thinking…
That’s my concern…Two sides to every coin, I suppose. Only time will tell. What are your thoughts? For more information, please see the following: US Department of Housing & Urban Development (HUD) Bookmark This Post
What you can learn from the bankruptcy of a Hernando County Real Estate Developer – More proof that you can’t fight the rules of the real estate game.
Here’s the biggest problem with this situation…whenever a customer purchases a lot (or new construction home) in the Hernando Oaks golf community, they are required to join the golf club either as an individual, family, or social member (with an initiation fee ranging anywhere from $1,100 for a social membership (golf not included) up to $7,500 (resident family membership). This fee is non-refundable and non-negotiable and is in addition to monthly fees ranging from $55 (social membership) to $225 (family membership)…but wait…there’s no clubhouse yet…there’s no pool….no fitness center…all of which were supposed to be completed in 2005 (that’s right…2005)…and the developer just filed for bankruptcy…doesn’t look good to me, folks… Note – monthly fees are not due until improvements are completed, but “initiation fees” are paid at the closing for the lot/home.
Is there a lesson to be learned? Absolutely – I tell every one of my sellers the same thing…If you need to sell (not just “kinda maybe want”, but NEED), you need to beat the market, drop your price and get your home SOLD. Since June of 2006 the market in Hernando County has been declining by 2-3% PER MONTH. Over a normal listing period of 6 months with a $200,000 home, that costs you $33,405 if your home doesn’t sell….and that’s not based on a LIST price of $200,000…that’s based on a true market value of $200,000 (in other words, if your home is worth $200k but you’re overpriced and listed at $225,000 that doesn’t matter…list price doesn’t affect market value). If you want to know your true market value (free, and with no obligations), click the “Need a Buyer?” link and fill out the form – we’ll run some numbers and get you a true estimate of your homes value in TODAYS market within 24 hours. Seller’s need to learn to cut their losses and move on because this is not going to turn around after the election, come January, after the bailout, etc etc etc…This is going to turn around when inventory drops back to reasonable levels. Plain and simple. Right now we’ve got over 5 times the inventory that we had in 2005. As long as buyers have an abundance of CHOICES, the market cannot help but continue to decline and with 19 months worth of standing inventory currently available, we’re looking at several YEARS before this changes. You can cut your losses and sell, or you can decide to wait, or you can chase the market down and end up selling for significantly less. It’s your choice, but you do need to make one. To the buyers out there – do not be discouraged – this is an absolutely amazing time to buy property here in Hernando County! I myself have purchased four investment properties in the past 5 months. The trick is to not just “buy anything” but find the great deals and then JUMP ON THEM! The homes that are priced right are selling within DAYS, so you need to have all your ducks in a row and commit to the IDEA before you find the right house. If you find the right house first, it will most likely be gone before you’re ready to make a strong offer (pre-approvals are a NECESSITY and do take time!). The deals are out there – I usually find 1-2 per month (yes…that’s right…1-2 per month out of over 3,500 homes currently on the market) – but they are THERE! In fact, one of my buyers is closing on his “steal” on December 5th. I can’t give you the details on it yet because it hasn’t closed, but I’ll tell you all about it then, so make sure to check back! (update – it has now closed and here’s the info!) Here’s another article from November 12, 2008 in the Hernando Today newspaper. This one is from before the bankruptcy filing. And another article from The St Pete Times, September 4, 2007 – possibly showing the writing on the wall even back then? Any questions or comments, fill out the comment form below and we’ll get back to you as quickly as possible -or you can call me at 352-397-5182 or email me directly at Josh@HernandoLuxuryHomes.com – we’re always here. Bookmark This Post
More New Development for Hernando County – “If You Build It…They Will Come…”As reported in the St Pete Times today, Hernando County has a new Development of Regional Impact (DRI) that’s one step closer to being finalized. “Sunrise” will culminate with 4200+ Single Family Residences, 600 Multi-Family Units, 75 Motel Units, 365,000 Square Feet of Commercial Space, 50,000 Square Feet of Office Space, and 40,000 Square Feet of Mini-Warehouses…yes, they are building a city inside the city of Brooksville. Possibly also to include a golf course and clubhouse….all on 1,385 Acres just south of SR-50 and east of I-75. Take a look at the article written by Barbara Behrendt and let us know what you think. Here’s another article by Michael D. Bates in Hernando Today. Here’s a map showing approximately where the development will be located. Bookmark This Post
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