Housing & Real Estate

PLANNING YOUR MOVE
Relocating to a new home is one of the most stressful situations in life no matter if it is across town or across the nation. Preparing and organizing are key to limiting your anxiety. So the first thing on your agenda is deciding to hire professional movers or do it yourself (DIY). The answer varies based on personal circumstances. As far as the DIY move consider distance, labor help, and the costs of renting a truck or trailer, gas, lodging and insurance.

An alternative to either type of move is a transportable storage unit that you load and secure and then unload at your new residence.

Regardless of your choice, obtain as many quotes as possible from professional movers along with cost estimates for a DIY move. Before deciding, weigh the amount of stress and physical exertion you are willing to take on. See page 22 for tips on what to do when moving.

FINDING YOUR PERFECT HOME
Buying vs. Renting
To buy or rent is the most important decision you will make during your relocation. Buying a home involves a long-term emotional and financial commitment. The advantages include tax benefits, the possibility of building equity and the freedom of owning your own home. Disadvantages involve upkeep and property taxes, and a highly unstable real estate market.

Renting, on the other hand, affords carefree maintenance, a lease instead of a 30-year loan and loads of amenities like laundry and exercise rooms, pools and Jacuzzis and tennis courts. But the disadvantages equate to lack of control over the residence, pet restrictions and random rent increases.

Before deciding, take all of your needs into account, review your financial situation and research your options thoroughly.

Buying a Home
Buying a home is a complex matter and—as the recent housing crisis demonstrated—requires a thorough education about the process. First make sure you fully understand your financial position—credit score, available savings, monthly income and monthly expenditures. Subtracting your expenditures from your income will approximate how much you can afford to spend on housing. Be sure to take into account all insurance costs associated with owning a home, possible homeowner association fees as well as property taxes.

According to http://www.ginniemae.gov, different loan programs have various rules for what percentage of your income can be used for housing related expenses. For most conventional loans, 28 percent of your income can be applied to housing, while FHA allows 29 percent and VA loans allow 41 percent. An important factor to remember is that a real estate agent or a mortgage lender cannot tell you how large a mortgage you can afford. Rely instead on your budget review to determine that expense.

Next, research the different types of home loans available and determine which fits your financial situation. The two main types of mortgages are fixed-rate and adjustable-rate. A fixed-rate loan features one interest rate for the life of the loan, with a constant monthly payment.

The adjustable-rate loan generally starts with a fixed rate but—after an introductory period—the rate will adjust periodically based on fluctuations in the interest rate. This loan offers stability for people expecting to stay in the home for a long time. It also saves money in the short term since the initial interest rate is typically lower than a fixed-rate mortgage. Once that initial period ends, however, the rate rises and falls—at pre-determined intervals stated in the loan contract —based on fluctuating market conditions.

Regardless of the type of loan, discuss your options with a lending professional. Also, qualifying for a pre-approved loan before starting your search will alert you to any issues that might prohibit a loan. Knowing your monthly budget and amount of your loan will help to answer important questions before starting your hunt for a home.

• Which property will best fit your needs: single-family houses, condos, townhomes or duplexes?
• Do you want to buy a new home, an existing home or build your own? New homes generally cost more, but existing homes may involve maintenance and renovation costs.
• How many bedrooms and bathrooms do you need? An attached garage?
• Do you want to live in the city, a suburb or in the country? Are proximity to work, school, shopping or public transportation important?
The answers these questions will ease your search and assist in the next stage.

Now you’re ready to hire a real estate agent to help find your ideal home and guide you through the purchase process. Remember to interview your potential agent to ensure this person understands your needs, is familiar with the regions/neighborhoods in which you are interested and is readily accessible.

Once you find the right home and the owner accepts your offer and then it passes inspection, the next step involves a Contract for Purchase and Sale of Real Estate. This document details the final terms for purchasing the home including a description of the property, the price, the closing date and estimated closing costs. The contract also specifies the broker’s commission, inspection results and damage-payment agreements. Read this document carefully before signing.

On closing day, read carefully and then sign all the documents, pay the closing costs and get the keys. The escrow company, attorney or title company will then record the transaction with the county.

Renting a Home
Much like purchasing a house, finding a suitable rental begins with knowing your financial standing and then calculating your monthly budget, as well as answering several questions before starting your search.
• What type of rental best fits your needs—a single-family home, a condo, a townhome or an apartment?
• How many bedrooms and bathrooms do you need? A garage?
• Do you want a roommate?
• Do you want to live in the city, a suburb or in the country?
• Do you have to be close to work, school, shopping or public transportation?
• Are amenities like an exercise room, pool or tennis courts important?

Answers to these questions will ease your search and assist in the next stage.

Before commencing the actual search, check the yellow pages in this guide for apartment guides, rental agencies and property management companies. And such Internet sources as http://www.rent.com and http://www.apartmentguide.com feature detailed information and photos of the properties. You can also input your preferences on these sites—such as price, location and number of bedrooms—to locate and view potential properties.

Or simply drive around the neighborhoods in which you’d like to live. Many rentals aren’t advertised in newspapers or listed on the Internet. Also rely on friends and relatives who already live in the Tampa Bay Area.

Once you have selected a few choice locations, investigate them. First, determine your total financial commitment:
• How much are deposits and applications fees?
• What utilities does the landlord pay? What are typical monthly utility bills?
• Will the rent increase when the lease expires?
• Are there extra charges/deposits for pets?
• Will renter’s or car Insurance costs change?

Next, interview the management staff or property management company.

• Are there on-site managers? Do they respond quickly to tenant requests?
• What are typical maintenance problems?
• Ask for and check references. Does the staff respond quickly? Does the landlord return the security deposits on time?
• Are the rules and regulations reasonable and logical?
• Discuss pros and cons with tenants. Is parking plentiful? What are inside/outside noise levels?

Visit the neighborhood during the times you would normally be home.

• How is the traffic around the area? How are parking and noise conditions?
• Check with the local Sheriff’s office to review the crime rate in the neighborhood. Thoroughly inspect the residence and note any issues on the lease or a separate document and then carefully read the lease before signing. The lease should specify a start and end date, the amount of monthly rent and day it’s due, and the amount of deposits paid. Other legalities involve the amount of advance notice required before moving out, clean-up guidelines and minimum time to return deposits.

UTILITIES
Electric
Tampa Electric Company (TECO)
P.O. Box 111
Tampa, FL 33601 (813) 223-0800
http://www.tampaelectric.com
Tampa Electric supplies power to Tampa, Clearwater and St. Pete.

Progress Energy
P.O. Box 33199
St. Petersburg, FL 33733 (727) 443-2641
(800) 700-8744

Gas
Clearwater Gas System
711 Maple St.
Clearwater, FL 33755 (727) 56-4980
http://www.clearwatergas.com

People’s Gas (TECO)
1920 Ninth Ave. North
St. Petersburg, FL 33713 (727) 826-3333
(877) 832-6747
http://www.peoplesgas.com

People’s Gas (TECO)
1400 Channelside
Tampa, FL 33605 (813) 275-3700
(877) 832-6747
http://www.peoplesgas.com

Central Florida Gas
1015 Sixth St. Northwest
Winter Haven, FL 33881 (800) 554-6427
http://www.cfgas.com
 
Water/Sewer/Garbage
Hillsborough Water Resource Services
925 E. Twiggs St.
Tampa, FL 33614 (813) 272-5977
www.hillsboroughcounty.org/water

Pinellas County Water Resources
300 S. Garden Ave.
Clearwater, FL 33756 (727) 464-4422
http://www.pinellascounty.org/water

Tampa Water Department
306 E. Jackson St.
Tampa, FL 33602-5208 (813) 274-8121
http://www.tampagov.net/dept_Water

Curbside Solid Waste Collection
Solid Waste/General Services Department
1701 N. Hercules Ave.
Clearwater, FL 33765 (727) 562-4600
http://www.clearwater-fl.com/gov/depts/solid_waste/index.asp

Plant City Public Works
1802 Spooner Drive
Plant City, FL 33563 (813) 757-9288
http://www.plantcitygov.com

St. Petersburg Sanitation Department
2001 28th St. North
St. Petersburg, FL 33713 (727) 893-7334
http://www.stpete.org/sanitation

Temple Terrace Public Works
11250 N. 56th St.
Temple Terrace, FL 33617 (813) 506-6570
http://www.templeterrace.com/publicworks/index.htm

BAY AREA COMMUNITIES
Brandon
http://brandonchamber.com
About 10 miles east of Tampa, this community—named for founder and landowner John Brandon who arrived in 1857 from Mississippi —has grown rapidly since the 1980s. And real estate sales are plentiful, with the median home price around $150,000. If you’re looking to rent, a three-bedroom/two-bath apartment goes for $1,200 a month. The Hillsborough County Public School system oversees six elementary, three middle and one high school. For higher education, Hillsborough Community College offers AA degrees, university transfer and career/technical courses on an 82-acre campus.

Clearwater
http://www.clearwaterflorida.com
The city stretches over more than half of the Pinellas Peninsula as well as the barrier islands that make up Clearwater Beach. During World War II, it became a major training base for troops destined for Europe and the Pacific. These days the community’s known for pristine white sand beaches, clear gulf waters, sunsets at the pier and plenty of hospitality from its 110,000 residents. And the Philadelphia Phillies spring training camp.

Properties—condos, villas, townhomes, waterfront property and vacant land—combine a tropical atmosphere with an array of different housing choices. A three-bedroom, three bath 1,756-square-foot single-family inland house, for instance, sells for $210,000. A two-bedroom, two-bath downtown apartment rents for $970 with a $500 to $1,000 security deposit. The Pinellas County Public School System oversees 11 elementary, five middle and four high schools. And the St. Petersburg-Clearwater campus offers several two- and four-year programs.

Largo
http://www.largo.com
This once-rural farming community on West Central Florida’s Gulf Coast has become the third largest city—population 75,000—in the state’s most densely populated county. It’s also a near annual recipient of the National Arbor Day Tree City award over the last two decades.

Houses and condos are highly prized and affordable in this bedroom community. A four-bedroom, two-bath, 1,694-square-foot inland ranch house with pool, for example, sells for $125,000. A two-bedroom, 1½-bath townhouse rents for $950, with a $950 security deposit. The Pinellas County Public Schools system oversees eight elementary, three middle and five high schools. And the Fortis College campus offers career training in the medical, HVAC and cosmetology fields.

Plant City
http://www.plantcitygov.com
The 35,000 residents living about 25 miles east of Tampa on Interstate 4 are “embracing the future, while preserving the past.” According to local lore, for instance, the city was originally named Ichepucksassa after an Indian village, but confusion about the spelling and pronunciation eventually prompted the city’s postmaster to change the name to Cork, his hometown in Ireland. In 1885, the townsfolk honored Henry B. Plant a year after he extended the South Florida Railroad to what is now known as Plant City. And in keeping with the city’s theme the commercial and residential downtown area has been designated as U.S. historic district.

Citrus groves, farm land, pastures and strawberry fields surround the “Winter Strawberry Capital of the World.” Real estate is plentiful, with a diverse price range of $100,000 to $155,000. And 500 to 1,000 square-foot apartments typically rent for less than $1,000 a month. The Hillsborough County Public Schools system oversees 13 elementary, five middle and two high schools. For higher education, Hillsborough Community College offers university transfer and career/technical courses.

St. Petersburg
http://www.stpete.org
The Sunshine City ranks fourth among major cities with 17 percent of the 251,151 residents age 65 or older. Peter Demens, a Russian immigrant who built the Orange Belt Line railroad, named the tourist and retirement center after his beloved Russian city. In 1914, the St. Louis Browns moved their spring training camp to the fledgling resort and commenced a love affair between baseball fans and tourists that blossomed into a community of pelicans, porpoises, endless sunshine and sailboats.

The housing market runs the gamut of upscale millions to a thrifty $100,000, with retirement condos at a premium. A two-bedroom, two-bath 1,0590square-foot single-family home, for instance, sells for $119,500. A two-bedroom, two-bath house rents for $1,050 a month, with a $600 security deposit. The Pinellas County Public Schools system oversees 31 elementary, 13 middle and 14 high schools. The state’s first two-year and four-year community college, St. Petersburg College, offers nine learning sites throughout Pinellas County, serving more than 63,000 credit and non-credit students annually.

Tampa
http://www.tampagov.net
The largest city and Hillsborough County seat boasts a population of 350,000, some of them descendants of settlers who founded the village near the Fort Brooke U.S. Army outpost in the early 19th century as protection from the Seminole Indians. In 1887, the Florida Legislature established the charter for the City of Tampa.

That city is now the 53rd largest in the United States and home to several billion dollar company’s corporate headquarters including Wellcare Health Plans, OSI Restaurant Partners and Cott Corporation.

Like many other Florida cities, Tampa suffered from the housing crisis, but a steady supply of homes for sale persists, with an average selling price near $170,000. And a typical one-bedroom apartment rents for $700 a month. The Hillsborough County Public Schools system also oversees 54 elementary, 34 middle and 19 high schools. For higher education, the University of Tampa offers more than 120 areas of study, with an MBA program that is one of the largest in the state.

Temple Terrace
http://www.templeterrace.com
The 25,000 residents of this city named for the “Temple” orange trees and the “Terraced” terrain live just northeast of Tampa at the confluence of three major Interstates; I-4, I-75 and I-275. In 2008, the Arbor Day Foundation bestowed the crown of Tree City USA on the town.

Housing is a bit more expensive than surrounding communities, a three-bedroom single-family home sells on average for $300,000. And housing rentals abound—one bedroom/one bath apartments rent for around $600 a month, and a three-bedroom/two bath single-family home rents for $1,400 a month. The Hillsborough County Public Schools system oversees three elementary, one middle and one high school. For higher education, the University of South Florida plays host to 39,000 students and offers 228 degree programs at the undergraduate, graduate, specialist and doctoral levels.

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