🏘 New 6,200-Acre Master-Planned Community, Increasing Your Home Value & The Market Flatlined

🏘 New 6,200-Acre Master-Planned Community, Increasing Your Home Value & The Market Flatlined

October 13, 2022

I hope you're doing well and you find the emails I'm sending helpful!

If you want to see some of the local numbers in our markets, scroll down to "The Latest Local Numbers"

Enjoy!

- Sean

🥇 The Angeline Project - Will This New Community Be The Best New Neighborhood in Pasco County?

Angeline Project

“We want to create the healthiest zip code in the country,” Goyani said.

The Angeline Project is a $15.4M new 6,200-acre master-planned community with 10,000 homes for the new $100M Moffit Center

The new community in Central Pasco is designed to promote good health.

It will have a professionally managed working farm. It will have a regional park.

An extensive trail network will weave throughout Angeline and will have connections to the Starkey Preserve, the Connerton Preserve, and the Crossbar Ranch Preserve.

Plans for the area, which is south of State Road 52 and east of the Suncoast Parkway, include:

  • Moffitt Cancer Center’s Pasco County campus, a 775-acre life sciences and research park, expected to attract researchers and companies from around the world

  • A diversity of residential options, expected to appeal to be people of all ages in different stages of life

  • A community farm

  • A 6-12 STEAM Magnet School (STEAM stands for science, technology, engineering, arts and mathematics).

  • 3,600 acres of green space and an extensive trail system

  • A MetroLagoon

  • The fastest internet in the nation, accessible to all within the community

  • Access to State Road 52, the Suncoast Parkway and Ridge Road. An extension of Ridge Road will run through the property, ending at U.S. 41.

I think this will be a revolutionary community for the area and will improve the area for the next few years and decades to come. What do you think about it?

The Housing Market is Concerning, Confusing & Frustrating

Altos Research

This is what I'm hearing from many people right now...

The Feds' response of raising interest rates is certainly having an effect on the market.

But we just got hit with another curveball, home inventory flatlined.

This will only exacerbate the current issues because supply of homes is still drastically behind 2019. Which is why home prices will hold steady.

Experts weighed in that metros in the South are least likely to see home price declines over the next year. This is why many suspect we will see a "normal" appreciation of 2-4% year over year in 2023 and for the foreseeable future.

Affordability will remain an issue for many buyers until the Fed stops raising rates.

But home inventory and days on market are still below pre-pandemic levels so this new environment will bring a new kind of buyers' market.

For those who don't need to move and can't yet, then you may favor seeing how interest rates play out. But for those who do need to move and have the ability to move, there will be opportunities now that we won't see later.

Some builders are committing to paying refinances 2 years later. (aka no closing costs) Sellers can still get a great value on their home and for homeowners + buyers alike, you can have the opportunity to be real buyer instead of paying over asking price the first few days.

You will have more options, less competition, more flexibility, the ability to be patient, less risk, and negotiate on your new home. BUT at the same time, you will need to be willing to deal with that on the sell side too.

Prices in many areas became unreasonably high, and now we’re seeing normalization across the country. Yes, there will be some market discomfort in the short term, but in the long run, this is exactly what the market needs.

🛠 How Homeowners Can Increase the Value of their Home Without Breaking the Bank

Updating & upgrading your home doesn't need to be a $200,000 project that doesn't require you to stop using your kitchen for 6 months.

There are ways to get a great bang for your buck that will help your home look newer and more modern.

And it's important to do because 80% of home buyers would rather purchase an updated home, so this will increase the return & marketability of your property when you sell later.

1. Updates & Repairs

    81% of people surveyed said the updated Kitchen & Bathrooms are the 2 most recognized areas when purchasing a home.

    a) The Kitchen:

    • Update lighting & plumbing fixtures.

    • Paint or reface your cabinets.

    • Don’t go overboard on appliances.

    Bigger projects:

    • Replacing flooring

    • Updating countertops

    • Installing a kitchen island

    • Building walk-in pantry

    b) The Bathroom

    • Replace hardware.

    • Brighten grout, caulking the tub or re-grouting the tile floor

    • Remove your sliding glass shower door.

    Bigger projects:

    • Add a double vanity.

    • Refresh countertops.

    • Add a walk-in shower.

    Both the kitchen & bathroom updates can yield 3-7% higher return.

    2. First Impression

    a) Outside the Home:

    • Painting the front door

    • Painting the garage door

    • Repainting the exterior

    • Fresh Mulch

    • Basic Lawn Care/Landscaping

    • Replacing old front or garage doors

    • Add a small backyard deck or improve

    Buyers will pay on average 7% more for a home with stunning curb appeal versus a home with an unsightly exterior.

    b) Inside the Home:

    Repainting rooms can raise the value 1 to 3%.

    3. De-clutter & Deep Clean

    Did you know that if you deep clean and declutter your house, your home’s sale value could increase by 3% to 5%? A few hundred dollar job can return nearly +1000%!

    A thorough cleaning, including vacuuming, dusting, and wiping down every surface.

    4. Depersonalize (Staging)

    *This is only if you're selling

    Have you felt the difference between walking into a new model home vs. an old home cluttered with personal belonging?

    Staging has been seen to increase a home’s value by 1% - 5%. And some believe home staging increased the dollar value offer between 6% and 10%.

    The average staged home sold for $40,000 higher and 9 days faster last year.

    Why are these 4 parts so important?

    Updates + First Impression + Deep Cleaned + De-personalized = Blank canvas

    This is how you can make 10% more money when selling your home

    📊 The Latest Local Numbers

    👀 In Other News:

    Hope you're having an amazing October!

    - Sean and the Bello Home Team

    Was this forwarded to you? Sign up here.

    Want to submit a question to us? Simply reply & let me know.