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2017 First Quarter : Tampa Housing Market

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The Tampa real estate market is in a good place. There were a lot of predictions for 2017, particularly about home prices and what to expect. So has Tampa lived up to the hype? Check out what the most recent reports have said about the first quarter on the Tampa housing market.

Good, but not thatgood

According to the National Association of Realtors, home prices spiked 6.9% in the first quarter of 2017. Rising prices are an excellent sign of an abundant economy. In a new report by ATTOM Data Solutions, Tampa Bay homeowners who sold in the first three months of this year realized an average gain of $30,100 over what they originally paid. I think it’s safe to say that’s pretty good!

However, that average is still $35,000 less than what it was at the peak of the real estate boom in 2006. This same report has also showed that homeowners are keeping their homes longer. A result of the bubble burst back in 2008. Will we reach that peak once again? Possibly.

The Results: inventory in demand

As a demand of the housing market, in combination with homeowners keeping their homes longer and the increased prices, homes are in demand. Prospective buyers poured into the market to start the year as the job market also shows increases.

Another player that we might see soon are automated homes, which are now part of the mainstream. These new builds come equipped with built in automation – from the shutters to the security system. Ten years ago this technology was very high end but now average home owners can enjoy this type of automation.

So for now, the Tampa market is looking great! As long as the available housing can keep up with the demand you can expect prices to continue to rise and profits continue to increase. Don’t forget to give us a call to schedule your home inspection before you complete your home purchase.

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What Are Home Inspection Deal Breakers?

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A home inspection comes at the end of your home buying process. This position has a tendency to be stressful to home buyers. In fact, fear of home inspection deal breakers is a common misconception. In this blog, we will address some potential home issues that could make or break a deal. Keep in mind, at the end of any home buying process, the decision to complete the purchase is completely yours. No matter what home issues are uncovered during a home inspection any issue can be repaired or resolved.

New Roof

A new roof can be one of the most expensive repairs. However, if a home needs a new roof many sellers will include the cost of the new roof into the home price. This means the seller will decrease the price of the home to accommodate for the cost of the new roof. During a home inspection, your home inspector will walk on the roof and look for damage or any indication of need for repair.

Plumbing and Electrical

One of the most common home issues is with the plumbing or electrical. A leak in the wall or pipes, faulty wiring, or both can be an expensive repair. Worse, if you have to replace anything. The good news is most of these home repairs aren’t huge and can be taken care of fairly quickly. Home inspectors use infrared lights to detect water leaks behind a wall so you can feel confident that we will find any leaks even if it is not obvious to the naked eye.

Sinkholes or Foundation Issues

In Florida sinkholes are becoming a nuisance. For this reason foundation inspections are one of the most important inspections you need to have. Inspecting the foundation should be included with any home inspection. Any good home inspector will go into the crawl space if it is available and properly inspect the foundation. Any issues or concerns will be included in the detailed report.

You can schedule your home inspection directly on our website. We will walk you through everything you need to know about your potential new home and answer all of your questions. Schedule your home inspection now or give us a call!

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How Much Should Your Home Inspection Cost?

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The Value Of A Home Inspection

Some home buyers don’t see the value in getting a home inspection. Maybe you think a home inspection costs too much or maybe you think because the home is a new build it doesn’t need one. Whatever the reason might be, no reason is big enough to avoid getting a home inspection.

The average home inspection costs between $400 – $500, depending on the size of the home. A home inspection will take a few hours to complete and you’ll be left with a detailed report. You are paying for time, the report, experience, and you are paying for saving yourself from potentially major issues.

So how much should your home inspection cost?

Let’s look at the potential problems a home inspection is saving you from and their value.

Some of the major issues that could break a purchasing deal include foundation issues, electrical wiring, plumbing, a new roof and mold. Any one of these difficulties could create quite the quandary if they were a surprise. A new roof could costs $15,000 to replace. Mold could make your new home unlivable until extracted. Between your down payment and closing costs, unless you have a few extra thousand or more put away for emergencies, you could be facing a predicament. We don’t want to see that happen to anyone.

No matter how much you love the house you absolutely need to have it inspected.

Our goal is not to kill your deal.

Our goal is to make sure you are well educated before you complete your purchase so you can do so confidently. Home repairs come in all sizes. Some big, some small, some minor, and some major. When you get a thorough home inspection like Divinity Inspection Service offers, you can find peace of mind knowing that any issue will be identified, listed, and detailed in our home inspection report. All of a sudden $500 doesn’t sound like a lot now does it?

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How the Rain and Heat can effect your Home Inspection

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Weather can and does effect your home inspection. However, sometimes the weather, such as rain and heat, could help your home inspection! As we enter into the rainy season in the Tampa area we can celebrate for the much needed rain! Not just for the dry areas and the brush fires we’ve been battling, but also for our lakes and swamp land. Here’s how the heat and rain can help better your home inspection.

Rain, Rain Don’t Go Away

Heavy rain can show you issues in your home that would otherwise be difficult to detect. Leaks in the roof, clogged gutters, drainage issues, and flooding are all affected by rain. In fact, we recommend that if you have an opportunity to check out a home you are considering purchasing while it is raining then do so. Drive around the neighborhood as well to check for potential flooding hazards.

One delay you don’t have to worry about is your home inspection. We inspect in the rain and complete the inspection as normal. If you’re worried about scheduling a home inspection during a week that expects bad weather, don’t worry about it! Give us a call anyways.

What the Heat can do for you

The heat can effect certain areas of the home more than others and be a tell-tale sign to serious issues. Improper insulation in the attic can cause your attic to overheat and your A/C to overwork. Improper insulation within the house means high electric bills.

Extreme high heat can be dangerous for home inspectors. When the roof get very hot it can make inspecting the roof difficult. Small spaces like the attic and crawl spaces can be very difficult for a home inspector to inspect during very high temperatures. That doesn’t mean we can’t get the job done so make sure to give us a call!