The Local Market Guide | Bello Home Team
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🔥 Pasco’s Hot Spots, Spring Hill New Community & Refinancing Buzz

🔥 Pasco’s Hot Spots, Spring Hill New Community & Refinancing Buzz

Check out what's happening in the Pasco and Tampa economies this week.

Sean Bates
February 13, 2025

Happy Thursday!

This week in Pasco, we’ve got a little bit of everything—fun events, big real estate moves, and a potential shake-up in mortgage rates.

If you're looking for weekend plans, there’s no shortage of things to do, from the Bay Area Renaissance Festival to a Tom Petty tribute show.

For those keeping an eye on the market, Pulte Group is bringing nearly 700 new homes to Pasco for 55+ buyers, and the county’s five-year plan is shaping up to be a goldmine for high-net-worth investors.

Plus, if you’ve been wondering whether now’s the time to refinance, a small rate dip might make a big difference.

Hope you enjoy!

—Sean

🎭 Fun Things to Do Around Pasco
This Weekend!

Looking for something fun to do in Pasco County? Whether you're in the mood for live entertainment, outdoor markets, family-friendly fun, or a unique night out, there’s something happening near you.

Check out these local events and make the most of your weekend!

Bay Area Renaissance Festival

Experience a magical 16th-century European village featuring 15 stages of exciting entertainment. Over 100 artisans will showcase and sell their handcrafted goods. Enjoy full-contact live armored jousting and seven themed weekends.
📍 Location: 12838 Auton Road, Dade City, FL
📅 Date & Time: February 15 - March 30, 10:00 AM - 6:00 PM
🎟️ Tickets: Starting at $18
🔗 More Info

Cirque Ma'Ceo

Experience the harmony of magnificent horses and world-class artists in a dazzling performance that takes you on a breathtaking journey.
📍 Location: Avalon Stables, 18029 Lake Reflections Blvd., Lutz, FL
📅 Date & Time: February 14-16, 7:00 PM
🎟️ Tickets: $20 - $35
🔗 More info

Sweetheart Festival

Enjoy a seven-course sweetheart dinner for $70 per person (limited seating, child care available) and visit a family-friendly festival with games, an animal petting area, hayrides, vendors, and more.
📍 Location: Raprager Family Farms, 1607 Boy Scout Road, Odessa, FL
📅 Date & Time: February 15-16, 10:00 AM - 4:00 PM
🎟️ Tickets: Festival admission $12.50; Dinner reservations via [email protected]

Medicare Basics

A SHINE volunteer will be available to answer questions about Medicare in a free, unbiased, and confidential setting.
📍 Location: Land O’ Lakes Library, 2818 Collier Parkway, Land O’ Lakes, FL
📅 Date & Time: February 15, 10:00 - 11:30 AM
🎟️ Tickets: Free
📞 More info: 813-929-1214

Fresh Market at Wiregrass

Browse over 50 vendors offering fresh produce, artisanal goods, and eco-friendly products.
📍 Location: The Shops at Wiregrass, 28211 Paseo Drive, Wesley Chapel, FL
📅 Date & Time: February 15, 10:00 AM - 2:00 PM
🎟️ Tickets: Free

Breakdown – Tribute to Tom Petty

Enjoy the ultimate Tom Petty tribute performance.
📍 Location: Starkey Ranch Theater, 12118 Lake Blanche Drive, Odessa, FL
📅 Date & Time: February 15, 7:00 PM - 8:30 PM
🎟️ Tickets: $13
🔗 More info

Don’t miss out—get out there and have some fun!

🏘️ Pulte Group Expands in Pasco with Nearly 700 Homes for 55+ Buyers

Driving the news: National homebuilder Pulte Group is developing Del Webb River Reserve, a 55-and-up community in Pasco County, with nearly 700 homes planned.

Details:

Location: Shady Hills Road, about a mile north of State Road 52.
Homes: Floor plans will range from 1,405 to 2,800+ square feet, with five model homes under construction.
Amenities: Residents will enjoy covered pickleball courts, dog parks, resort-style pools, and community gardens.
Green space: The community features a 146-acre preserve with a 3.5-mile walking trail.
Clubhouse: "The Lodge" will house the Cotee River Tavern, a private bar and restaurant for residents.

Why it matters: Pasco County continues to attract retirees and active adults looking for amenity-rich, low-maintenance living.

The development brings new housing options, creates construction jobs, and contributes to the county's growing reputation as a premier retirement destination.

The big picture: Pulte already has two Del Webb communities in the Tampa Bay area—Del Webb Sunchase and Del Webb BayView in Parrish.

The expansion into Pasco County reflects rising demand for active adult communities in Florida’s booming real estate market.

What’s next: Pulte Group is moving forward with model home construction and will begin selling homes later this year.

🏡 $399,999 Fort Myers Home with
Lakefront Views!

3 Beds | 3 Baths | 2,534 sqft

Nestled in the desirable Cypress Cay community, this spacious two-story home offers stunning lakefront views and an oversized lot. Inside, you'll find a bright and open layout with a den, family room, and loft. The modern kitchen features a range, refrigerator, and dishwasher, while the walk-in closets and impact-resistant windows add both convenience and peace of mind.

Relax in the community pool or enjoy the serene lake views right from your backyard. Conveniently located near shops and dining, this home is perfect for families or anyone looking to enjoy Florida living.

📍 13404 Hampton Park Ct, Fort Myers, FL 33913

🚀 Pasco’s 5-Year Plan: A Goldmine for
High-Net-Worth Investors

Driving the news: Pasco County is laying the foundation for a future of prosperity with its newly unveiled 2025-30 Strategic Plan.

Designed to elevate economic growth and enhance quality of life, this forward-thinking initiative is a clear signal that Pasco is gearing up to become a premier destination for business, investment, and upscale living.

Details:
The county’s strategy focuses on three key pillars:

Building a thriving community with sustainable health, safety, and mobility infrastructure.
Enhancing quality of life by expanding access to cultural, social, and recreational experiences.
Accelerating economic growth through higher community income, investment incentives, and a diversified economy.

The plan also acknowledges current challenges, such as the need for more upscale housing options, revitalizing certain communities, and strengthening support for entrepreneurs and businesses.

Why it matters: Pasco County is positioning itself as a smart investment for those seeking luxury, opportunity, and long-term growth.

With an increasing demand for high-end real estate, elite amenities, and business-friendly policies, Pasco is crafting a landscape where wealth creation and quality living go hand in hand.

The big picture: Florida remains a magnet for affluence, with no state income tax and a business-friendly climate.

Pasco’s strategic vision aligns with this trend, ensuring it remains an attractive hub for executives, entrepreneurs, and high-net-worth individuals looking for both lifestyle and investment opportunities.

By the numbers:

9,453 fewer unemployed residents signal a strengthening workforce.
Third-grade reading proficiency at 53% is improving, which is crucial for cultivating future talent.
A net loss of 2,691 jobs is a challenge, but the county aims to create nearly 50,000 new jobs by 2030 to reverse this trend.

What’s next: Expect to see major investments in luxury developments, high-end retail, and exclusive recreational offerings.

If you’re looking for the next great place to establish your business, build a dream home, or invest in upscale opportunities, Pasco County’s evolution is one to watch.

🤔 Should You Refinance? Mortgage Rates Make a Small but Mighty Move

Driving the news: Mortgage applications increased by 2.3% last week, fueled by a strong jump in refinancing activity, according to the Mortgage Bankers Association (MBA).

Refinancing applications soared 33% year-over-year as homeowners took advantage of slightly lower mortgage rates.

Details:

The MBA's market composite index rose 6% on an unadjusted basis from the previous week.

The refinance index increased 10% from the prior week and now makes up 40.2% of total mortgage applications.

The purchase index dipped 2% seasonally adjusted but was up 2% compared to last year.

Average loan size for purchase applications reached $456,100, the highest since March 2022.

Adjustable-rate mortgages (ARMs) accounted for 6% of applications, reflecting some borrowers' willingness to explore alternatives to fixed rates.

Why it matters: Lower mortgage rates are giving homeowners a rare opportunity to refinance, reducing their monthly payments or accessing home equity.

Meanwhile, homebuyers remain cautious but active, signaling resilience in the housing market.

By the numbers:

30-year fixed (conforming loans): 6.95%, down from 6.97%.

30-year fixed (jumbo loans): 6.96%, down from 7.01%.

15-year fixed: 6.35%, slightly down from 6.36%.

5/1 ARMs: 6.20%, up from 6.07%.

Between the lines: Higher refinance loan sizes indicate that borrowers with substantial equity are more responsive to minor rate changes.

At the same time, the shift toward VA loans over FHA loans suggests a preference for programs with lower upfront costs.

What’s next: Mortgage rates remain a key driver. If they continue to inch downward, expect more refinancing activity and a potential boost in homebuying demand—especially as the spring market approaches.

The bottom line: Even small rate dips can open doors for homeowners looking to refinance and buyers hoping for affordability.

Keep an eye on upcoming economic data for clues on where rates are headed next.

📊 Our Current Local Market Data:

The Tampa Bay housing market is undergoing a transition after years of rapid growth. Home prices have moderated, with the median sale price in Tampa reaching $485,000 as of late 2024—a 21.3% year-over-year increase but at a slower growth rate than in previous years.

Increased inventory, up 7.3% compared to pre-pandemic levels, offers buyers more options. However, homes are staying on the market longer, reflecting a shift toward a more balanced market. Despite cooling trends, Tampa remains appealing due to its strong economy, population growth, and lifestyle offerings.

Several factors are shaping the current landscape. Tampa's job market is thriving, particularly in healthcare, technology, and financial services. The region continues to attract new residents, with its population expected to exceed 25 million by 2030.

Interest rates are stabilizing, and a surge in new construction is set to alleviate housing supply pressures. However, recent hurricanes have influenced buyer sentiment and increased insurance costs, adding layers of complexity to the market dynamics.

For buyers, increased inventory means more negotiating power and opportunities, especially for homes on the market for 45+ days.

Sellers, meanwhile, should focus on competitive pricing, curb appeal, and working with experienced agents to navigate the changing landscape. Looking ahead, Tampa is poised for steady growth, remaining a top real estate market to watch in 2025 despite challenges like affordability concerns and rising costs.