Prudential Tropical Realty

Recently, Prudential Tropical Realty announced some changes that were being made within the company in order to help accomplish short and long term objectives. These decisions were made after careful and diligent analysis and we are very confident that they will help provide added strength to our associates, company and the markets we serve.

First of all, the Palm Harbor Office will be merging into the Countryside Office and will be from this point forward known as the Countryside/Palm Harbor Office. There are several reasons for this:

• We have two mega offices in the same market that are both operating around 50% capacity. By combining the offices, the capacity level becomes much closer to 100%, with greater efficiency.
• The Countryside Office has a “marquee” location, very visible with 24 hour access and a very efficient layout.
• The Palm Harbor Office although very well located, lacks visibility, has an inefficient layout, and is difficult to access after hours. A/C and restrooms are also not accessible after hours.

Ginger McQuigg will be the Managing Broker of the new Countryside/Palm Harbor office and Pam Cohn will be the Assistant Managing Broker.

Dewey Mitchell, co-owner of Prudential Tropical Realty also co-owns a retail parcel in the area of the East Lake Woodland’s Country Club. The property management company for East Lake Woodlands and an office affiliated with another large real estate firm were previously located on this site. We are planning to locate a 3,000± sq.ft. real estate office in the new facility.

We feel that these strategies will ultimately position us better in the North Pinellas Market. It will give us greater coverage in the high volume areas of East Lake Woodlands, Ridgemoor and Lansbrook.

Also announced was the closing of the Lakeland facility. When we purchased the Lakeland office, May 1, 2005, there was a mass exodus of associates (due to personal reasons unrelated to Prudential Tropical Realty) ; consequently we were left with two associates. We immediately began trying to rebuild capacity to a level that was acceptable. Although we made progress, we still had to subsidize the office consistently. Coupled with the fact that the office did not fit our standard footprint, we decided it was best to close the facility.

We gave the associates the choice of working from our Brandon or Dade City/Zephyrhills offices. We also let them know that we would consider leasing an executive suite for them.

Given the market conditions it was just not prudent for us to keep subsidizing the Lakeland office. We are still very high on the Polk County market in general and Lakeland in particular and still plan to re-enter the market when the timing and circumstances are right.

We want you to know that our financial condition remains strong. However, we don’t want to cripple ourselves, as we work through the current market conditions. We are positioning our company to not only come out of this market stronger, but to take advantage of opportunities, as they arise.

Together with our dedicated sales team we will continue delivering a World Class Experience…..One Client at a Time.

Here are some comments from agents regarding this news:

Dewey,
There is no one I would rather have lead this company to a strong future than you and Alan. Everyone likes to follow a strong leader. It make us feel stronger.
I like that you are taking a personal interest in the residential side of the company, it'll inspire the agents to rally around their leader and their company making us stronger. The more we see you the better we want to do for you, when people see their leader watching you'll find most will work harder too impress you.
In a softer market we need strong leadership, I feel the two of you can provide that leadership to inspire drive and determination to make this company excel.
I am looking forward to watching "our" progress as Prudential Tropical Realty. We can do it. I'm happy to have you in the lead.
Russell Laggan
New Tampa

Thank you, Dewey for your detailed letter. I have the utmost confidence in you and know that you have taken time to prayerfully consider the changes you have announced. I am very happy to be associated with your company. Please know that I am working very hard and praying hard to generate income here, as are the agents in our office. We are truly appreciative of all your hard work and dedication.
Thanks again,
Rachel Friesema
Countryside/Palm Harbor

Dewey,

I want to take a moment to thank you and Allen and Linda for all that
you are doing, have done, and will continue to do for us! It takes
great courage, respect and business savvy to look at the market and make
intelligent decisions about our company. To have the ability and the
honesty to let us, the associates know what is going on is truly
admirable. Thank you so much for creating a company that I can be proud
to represent!

Sincerely,
Amber Erickson

Technorati Tags: Florida Real Estate, News, Lakeland, Palm Harbor, Real Estate, Real Estate Technology, Tampa Bay, Tampa Bay Real Estate

After all of the media hype and bashing that the Real Estate industry has taken over the past few months (Bubble? What Bubble?), it is finally nice to see some good news.

The University of Florida Berstrom Center for Real Estate Studies recently published the findings of the Q1 2007 Survey of Emerging Market Conditions.

The report was written up in an article on the FAR website.

Overall the report is rather positive. According to the FAR Article, "This is the first time in the UF survey’s five-quarter history that the buyers’ investment outlook for residential development has brightened. It declined for the first three surveys and remained flat for the fourth survey at the end of October, starting to rise only in this latest survey."

I'll let you read the rest for yourself.

So what do you think? Have you seen things settle? Are things on the rise again?

Technorati Tags: Florida, Florida Real Estate, Real Estate, Tampa Bay, Tampa Bay Real Estate

This post originally appeared on The Insider Real Estate Blog by Rae Catanese Shutto an agent of Prudential Tropical Realty. Rae works out of our South Tampa Office and can be reached at rcantanese@prutropical.com.

SELLING A HOME...............BUT DO BUYERS WANT TO BUY? TAMPA, FL

It seems as though the whole Real Estate industry is at a stand still. At least in Tampa, FL where for the past 4 years we have seen a big boom.So what happens when sellers want to sell their home and the buyers aren't BUYING? The answer is NOTHING until something changes.

With interest rates higher than the past few years and insurance rates doubling and tripling in some areas my guess is the prices will have to come down. We are seeing insurance at 3,500 per year for an average 1,500 sf home in Seminole Heights. Add that on to your monthly payment and what you can afford will come down by nearly $300 per month. Stephanie D'attoma, with SunTrust Bank, figured that on a regular 30 year fixed loan, that the extra $300 per month would equate to approximately $46,300 less that a buyer can spend. Likewise, an interest only loan would be equal to approximately $52,500, which is what most home buyers are doing.

Many sellers many not want to hear that they may not be able to get the highest price as their neighbor who sold last year at this same time. Looking back on the past few years one could say it was a feeding frenzy to get a buyer's offer accepted. Once you submitted an offer there was always that intense waiting period when the buyer would want to know if another offer came in behind theirs and beat them out. I would always say to my clients, "if you really want this home your offer has to be very aggressive". I had one client last year offer 10K above the asking price because he really wanted the home.Fast forward 1 year, and I cannot say those same words to my clients looking to buy. In fact, buyers have become a hot commodity in this section of the State.

When my Real Estate partner, Michelle Jordan and myself attending the Greater Tampa Realtor Association Meeting a couple weeks ago, we heard that GTAR was expecting a 25% decrease in membership in the next year! Our guess is because of the lack of buyers in the market. Sellers are being told to expect for their home to be on the market 6-8 months, instead of the abnormally quick 2-3 month listing period last year.

What to do if you are a Buyer?If you are a buyer and are considering purchasing a property have a Realtor search properties that have been on the market at least 90 days. There's a pretty good chance that the seller is getting tired of waiting for a buyer and may be more motivated to sell.

If you are searching on-line, you don't have a way of knowing how long that particular home or condo has been on the market. A Real Estate Salesperson can give you that information. We can also tell you if the home had been previously listed and taken off the market. Why would someone want to know that? A property that has been listed since October of last year, had 3 price changes before listing with a new Realtor. Chances are that the sellers are very motivated and a lower offer with no Contingencies may get accepted.

Make sure you are pre-qualified with a lender and get a "good-faith estimate" This will detail your closing costs, estimated taxes, insurance and your monthly payment. This should be a free service that lenders provide. Ask your Realtor to look at the estimate to make sure it is a realistic amount for Home Owner's Insurance and Taxes. We are seeing buyers become unqualified because their lender didn't estimate the correct amount and the whole deal falls apart, sometimes at the last minute.

Sellers, hire an experienced Real Estate Agent.If you are selling your home make sure the Realtor you choose is doing the appropriate marketing for your property.Do they have a website?How many websites will your property be submitted to? There's always Realtor.com that once a property is listed in the MLS it also goes on Realtor.com.Does your Realtor pay for extra pictures on Realtor.com, or is there just one picture?What do the pictures look like? With so many homes on the market your home should stand out with professional looking high quality images.Has your Realtor suggested de-cluttering your home? This will make a big difference on how the home presents itself.

Ask for feedback on showings at least one time a week. This will help you determine why your house isn't selling.Price the home competitively.Take a preview of other homes for sale in your neighborhood. How does yours compare?Is there new construction in your area? If so, what are they selling for? Expect to be priced less than a brand new home.

Rae Catanese, a Realtor who specializes in the Tampa Bay Area, can be reached at Prudential Tropical Realty- South Tampa at 813-784-7744 or on-line at: www.TampaBayDwellings.com

Technorati Tags: Tampa Bay Real Estate, Real Estate, Tampa Bay

How many times have you heard any of the following?

• 99% Satisfaction Rating
• 100% Satisfaction Guarantee
• 9 out of 10 Satisfied Customers

What is the first thing you ask yourself when you see these kinds of statements? "Who is coming up with those numbers?" or "How do I know those numbers are real?" or "Where did I leave my car keys?" -- Oh wait, that last one is just me!

Anyway, how do you know that claims like these are real? Anyone can make up numbers and make a claim, but it takes a TRUE Professional to be able to independently back them up. That is why all of the agents at Prudential Tropical Realty have recently become Quality Service Certified®.

BEWARE - Marketing Speak Ahead:

QSC offers independent validation of service performance and provides an assessment for individuals, offices and companies. Associates earn the QSC designation following the completion of course studies and the passing of a detailed examination. A Quality Service Assurance Survey© is sent to each buyer or seller after a home purchase or sale closes to measure the customer’s satisfaction level of their real estate professional. The service performance assessment is produced from these surveys by an independent third-party organization and posted online to a public web site at

www.QualityService.org.

Holding and maintaining the QSC® designation requires a sales associate to follow a well-defined and prescribed process of service, which is presented in writing to every customer and client and to guarantee this service is delivered.

So what does this mean for you? Well that is easy -

It means that we can back up what we claim! And to prove it, we post it all online for everyone to see!

Technorati Tags: Guarantee, Listings, QSC, Real Estate, Technology

Beginning this year, Daylight Savings Time (DST) has been extended by 4 weeks. So rather then moving our clocks forward by one hour on April 1st, we will need to make the change at 2:00 AM on March 11th. At this point in the conversation, can someone please tell me what we are saving them for? It is not like we can Bank Daylight and use it later. "Gee, I was going to go to the beach today but it's raining. I think I will use some of my banked Daylight savings to brighten up my day!"

But I digress.

This change to DST can have some detrimental side affects for those of us living in the computer age (and these days who isn't?). Most computer systems are currently scheduled to change their clocks for DST on April 1st. In order to bring the systems up to date with the current changes, there are patches available for every operating system. I HIGHLY recommend that you install these patches before Saturday, March 10th. No the world is not going to come to an end like the whole Y2K problems, but not updating your systems could cause you to be late for or miss a meeting with a client. It could also cause emails to be delayed or not delivered.

Below are links to the patches for Windows and Apple operating systems:

Microsoft Daylight Savings Time Help and Support Center

Apple Daylight Savings Time Support

There is an additional problem from those of you using the Microsoft Outlook Client for their email and personal information management. Just installing the operating system patch will not fully remedy the situation because it can not change any existing items in your calendar. If you rely on Microsoft Outlook you will also need run the Outlook Time Zone Data Update Tool. This tool will update all of your existing calendar entries.

I hope this information is helpful.

Good luck and happy patching.

Oh, and make sure to save those daylight hours, you never know when they might come in handy.

Technorati Tags: DST, Technology