As a Land O’ Lakes native, everybody used to doubt Pasco but now it’s one of the most thriving and growing areas in Tampa Bay.

Now, Wesley Chapel, Land O’ Lakes, Trinity, Odessa, and more are some of the most desirable suburbs in the area.

They ranked the best places to live in Pasco & often are ranked the highest income areas in Tampa Bay. This is why they have often graded an A compared to some other areas in Tampa Bay.

So I wanted to share some of the recent major changes coming to our area.

— Sean

🚧 Coming Soon to Wesley Chapel: Downtown Avalon Park, The Grove Mini Golf & a New Oyster Bar

1) New Commercial & Retail Coming to Avalon Park Wesley Chapel 🏢

Why it matters: Avalon Park Group has partnered with Nye Commercial Advisors to lease 23,720 square feet of commercial/retail space in Downtown Avalon Park Wesley Chapel.

This partnership is expected to bring needed commercial uses to the growing Wesley Chapel community.

2) 2 New Residential Projects Joining Avalon Park Wesley Chapel 🏘️

What to expect: Avalon Park Group has sold two land parcels to Middleburg Communities, which plans to develop two residential projects in the area.

Mosby Avalon Park, a 338-unit traditional apartment community, will break ground in spring 2023.

Hamlet Avalon Park, a future phase, will bring 260 build-to-rent products, including single-family homes, duplexes, and townhomes.

3) Grove Mini Golf Opening Soon ⛳️

Driving the news: The long-awaited Grove Mini Golf at The Grove is set to open on April 15, offering an 18-hole mini golf course designed for a family-friendly experience.

Competing with the recently opened PopStroke, Grove Mini Golf aims to appeal to families and younger players, offering ADA-compliant holes and a more traditional putt-putt course layout.

4) Market Elaine First Friday Events Growing 🛍️

In case you missed it: Market Elaine, a monthly First Friday event at The Village at The Grove, has grown from 20 crafters and vendors in October 2021 to more than 150 vendors, attracting thousands of visitors.

The next Market Elaine event will be held on Friday, April 7, from 5 p.m. to 9 p.m.

5) Shuckin' Shack Oyster Bar Expands to Wesley Chapel 🦪 

What you need to know: The casual oyster bar and restaurant, Shuckin' Shack, is set to open a new location at 25038 Wesley Chapel Blvd this summer, as part of its ongoing Florida expansion.

The menu offers a variety of seafood options and non-seafood items, while the atmosphere boasts an Outer Banks-inspired vibe.

The venue will occupy over 4,000 square feet with additional patio seating.

These 5 major changes will continue to drive the thriving economy and growth in Pasco.

📉 Why Home Values Aren't Crashing in Tampa Bay in 2023 & What It Means for Homeowners, Buyers, and Sellers

As 2023 unfolds, many people are wondering why home values aren't crashing despite significant challenges in the housing market.

Here's what you need to know about the current state of affairs and what it means for homeowners, buyers, and sellers.

1. Rates are dropping, and buyers are returning

Housing affordability is at its worst ever, pricing over 20 million Americans out of the market and most people have under 4% rates causing homeowners to stay put.

However, rates have dropped from 7% to 6.1%, which will likely entice more homebuyers back into the market.

2. Homeownership is still within reach

Although many people feel that homeownership is out of reach, data shows that affordability is improving, and rates are dropping.

Buying a home has a 100-year track record of appreciation.

But if you don’t need to move and you have a lower interest rate, then it may not make sense to move yet.

3. Inventory will remain low

Contrary to popular belief, there isn't a massive surge of inventory in the housing market.

Homeowners aren't moving, and existing sales are actually declining.

We have less than half of the homes on the market compared to 2017-2019.

4. Home values aren’t crashing in our area

One key reason why home prices won't crash in 2023 is the significant shortfall of 6.5 million single-family homes due to a decade of underbuilding.

This shortage will continue to put pressure on the housing market as buyers return this spring and summer in search of affordable homes.

Home values have a proven track record of appreciating in the long run.

Bottom line: the housing market in 2023 is complex, but understanding the factors influencing home values and the strategies for navigating them can help you make informed decisions.

So if you want to buy your next home:

1. Focus on getting your finances in check

2. Building a team of experts

3. Creating a plan to make it happen.

Remember, timing the market is not as important as spending time in the market.

📊 Our Local Markets:

If you’re curious how much your home could sell for now, then reply “what’s my home value” or you can get an estimated value here.

Or if you’re just curious about how the current market affects your situation & what’s going on in your specific neighborhood, just reply & ask.

📰 In Other News:

• Pasco Scalloping Season Will Be Extended this Year from July 1st to August 6th.

• $19 Million Spanish-Style Dade City Estate Sits on a Whopping 200 Acres.

• Tampa’s Newest 42-Story Luxury Hi-Rise in Downtown with 225 Luxury Condos.

• Tampa is Among the Healthiest Places to Live in Florida.

• Seller Checklist to Maximize Your Sale: What Home Inspectors Look For In Homes

• Spring Home Maintenance Tips

That’s all for today, I hope you have an amazing week!

If there’s ever anything you need:

• a custom market or home value report

• a home services list for a reliable contractor or services professional

• feedback or a professional opinion on a home project

Just let me know! We’re here to help with all your home needs.

Talk soon,

- Sean, the Bello Home Team 

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