Figuring out home values when the market is in flux is truly a job for experts. We have seen the national real estate market begin to rebound, and expect Hernando Countyhome values to soon start to reflect movement as well. Most Hernando County homeowners are in the habit of keeping an eye on area home values. But especially for anyone considering buying or selling this summer, estimating their home’s value is one of the first items on the agenda.

To get you started, there are a couple of different methods to help establish a ballpark estimate of what your home may currently be worth. Certainly the quickest and easiest tool is the calculator on Zillow’s website, at http://www.zillow.com/profile/tinafingerman/.  This free online calculator uses accumulated public record data joined with other factors to produce an estimate of home values. All you need to do is enter your address and wait for the magic.

I do have to put in a word of caution, though. Like any computer program, it’s fast and precise –but also maddeningly capable of disregarding what we humans think of as ‘common sense.’ So, while it is fun and interesting to get this kind of readout, it’s at best a ballpark estimate (and at worst, downright misleading!).

There are many other sites boasting similar tools — variations of the same idea and pulling from slightly different data sets — but the approach they use to calculate home values stays the pretty much the same. You only need to enter your address and there you go: instant estimate.

While these calculators are great at aggregating data, nothing replaces human input.  Real estate is, after all, the very definition of a Hernando County occurrence, so if you’re looking for more than an estimate, it’s time to call the pros in.

When an experienced agent (someone like yours truly) creates their professional estimate, it not only takes into account the trends for properties closest to yours, but also incorporates real life features — such as the curb appeal your home and garden offers right now. The better kept your property is at any given time, the greater its estimated value should be. An agent can also suggest the small changes that work best to enhance a property’s value.

If you have been considering selling a home and are curious about today’s Hernando County home values, call me anytime for a complimentary (and 100% human) consultation!

The Spring Hill FL Sales Team
Agent Trust Realty
727-946-2348

For quite a while now, bargain hunters have been able to take their time combing through Hernando County foreclosure listings.  They’ve been looking for the kind of terrific real estate bargains that the last few years have provided — and there have been plenty. But recent signs show that it may be time for them to step up their efforts.
According to ReatyTrac, the outfit that reports on current real estate activity of all kinds, banks are increasingly leaning toward short sales as a way to handle defaulted properties. There are good reasons why they would prefer short sales over the foreclosure track. You would expect that if that trend is for real, we should see a decline in the number of foreclosure-related notices being issued. Last month, that is exactly what happened.
In April, fewer than 190,000 of the notices were reported. That makes it the lowest monthly total in 5 years (and a decline of 5% from March). In other words, although it takes some time for a foreclosure to occur, the writing seems to be on the wall: the high water mark in foreclosures may well have been passed.
Another sign: the average price of completed foreclosures rose from the year’s average of $226,953 to $256,027. Lower supply, higher prices — if the early trend continues,Hernando County foreclosure bargain hunters may soon find themselves having to hunt a bit harder.
There are many online resources that provide foreclosure lists: properties that are in good shape as well as distressed foreclosure properties, pre-foreclosure properties, REO foreclosures and foreclosure auctions. Anyone thinking about taking advantage of the bargains that are still out there (and they ARE still out there) should consider consulting an experienced areaagent to help with the process.
First and foremost, we can provide you with a current and accurate foreclosure list. There are many web sites out there that claim to list foreclosed properties, but most of them charge fees for their listings, and sometimes contain little or no contact information for accessing a property (or worse, are inaccurate).  Licensed real estate agents have the resources to obtain an accurate, timely list, as well as the experience in targeting the correct contact people.
Your agent can also be a guide through the sometimes tricky process of purchasing a foreclosed house. Many properties on the foreclosure list have not been well maintained; the lender may try to get more for the house than it is actually worth. If you intend to improve a property through your own sweat equity, our first-hand knowledge of Hernando County market values can help you project a property’s future value, too…either as an income-producing rental or to sell for profit.
To get the most bang for your buck, make sure to put your search in the hands of a professional.  Call me anytime!

The Spring Hill FL Sales Team
Professional Realtors
Agent Trust Realty
727-946-2348