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Tampa Bay Times | Sunday, March 25, 2018 |
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Homes Sold in the bay area
$1,050,000
2620 Driftwood Road S 4 bedrooms, 2½ baths St. Petersburg in Driftwood: Built on a .67-acre lot in 1948 and renovated, this waterfront home features its own beach, original wood floors, large living areas, fireplace, dining room with curved window wall, ground-floor master, paneled den, laundry room with sink, attached two-car garage, newer A/C, barrel-tile roof and dock. The 3,508-square-foot house was listed at $1,189,000 and sold in January. Century 21 Jim White & Associates Inc., Helle Hartley
$545,000
14110 Gulf Blvd., No. 302 3 bedrooms, 2 baths Madeira Beach in Arena De Madeira: This 15-unit beachfront condominium, built in 1981, has a long entry foyer, living area with oversized glass sliders, split bedroom plan, dual sinks in master bath, breakfast bar, ceiling fans, carpet and ceramic tile flooring, gulf-facing balcony, hurricane shutters, community pool and outdoor shower. Listed at $595,000, the fully furnished vacation getaway or rental-income property sold in February. Engel & Völkers Madeira Beach, Evan Pedone
Small lots may be the norm to meet the demand for enough homes in the Wesley Chapel S.R. 54 region, but developers also are providing plenty of open spaces and natural settings within their new communities like Ballantarae Park.
Wesley Chapel region housing market hot; has that new-penny shine BY NICK STUBBS Times Correspondent
$326,500
2639 Concorde Court 3 bedrooms, 2 baths Clearwater in Clubhouse Estates of Countryside: This traditional ranch home, built on close to a half acre cul-de-sac lot in 1978, has newer kitchen appliances, breakfast bar island, high-end laminate and ceramic tile flooring, renovated bathrooms, fireplace, vaulted ceiling, new roof, new pool filter, lights, screening and resurfacing, new A/C unit and breaker box, and two-car garage. The 1,648-square-foot house was listed at $337,500 and sold in January. Sun Sand & Sea Homes Realty, Glenn Stamm
$214,000
708 Caliente Drive 3 bedrooms, 2 baths Brandon in Bloomingdale: This well-maintained home, built in 1983, has formal living and dining areas, open kitchen updated with stainless appliances, Corian counters and maple cabinets, family room with stone-accented, wood-burning fireplace and French doors out to the covered and screened lanai, Pergo flooring, master suite with walk-in shower, and fully fenced yard. The 1,700-square-foot house was listed at $220,000 and sold in March. Signature Realty Associates, Brenda Wade Team
$173,000
7216 Julian St. 3 bedrooms, 2 baths New Port Richey in Lake Estates: Built on a cul-de-sac in 2001, this home features a formal dining area, living room, family room, eat-in kitchen, carpet and tile flooring, covered patio that leads to a screened patio and lush tropical garden, newer A/C, attached two-car garage and a grandfathered, low-premium flood insurance policy that can transfer to the new owner. Listed at $185,000, the 1,669-square-foot home sold in January. Century 21 Affiliated, Joan Byrd TO SUBMIT YOUR SALE for consideration in this column, please send us a photo of the home plus the address, sale price, listed price, month sold, number of bedrooms and baths, and short description. Submissions may be emailed to bmoch@tampabay.com (put HOUSE VALUES in the subject line) or mailed to: Tampa Bay Times/House Values, Attn: Barbara Moch/ Newsroom Services, P.O. Box 1121, St. Petersburg, FL 33731
“It’s crazy.” The S.R. 54 corridor/Wesley Chapel real estate market in southern-central Pasco County is on a wild ride. In fact, “Mr. Toads Wild Ride” is the best way Greg Armstrong can describe it. The chairman of public policy with the West Pasco Board of Realtors, Armstrong says housing growth in the region is exploding and shows no signs of slowing. Everyone wants in, he said, despite that “it’s not cheap,” and the lots can be small. A long-time resident of Pasco County, “It’s nothing like I ever imagined,” Armstrong said. Most of the new buyers are working families, many employed in neighboring Hillsborough County. Many drawn to the new and highly rated schools in the district. With Interstates 75 and 275, along with the additional north-south routes of the Suncoast Parkway and U.S. 41, the area has become the ideal bedroom community for people working in Hillsborough or Pinellas counties, Armstrong says. Taxes and impact fees are lower than living in either of those counties, and buyers can buy more for less. The new master-planned communities with rec centers, parks, trails and green space to spare are too much to resist for many. The thriving region extends out in all directions from around the intersection of I-75 and State Road 56, which becomes S.R. 54 as it approaches U.S. 41. Developments like Bexley in Odessa and Starkey Ranch in Land O’ Lakes west of the interstate are very desirable among buyers right now, as is The Ridge at Wiregrass Ranch to the east. Estancia to the north is hot but Epperson Ranch a bit farther north is on a tear. “It’s the hottest right now,” said Joe LoCicero of the Team 54 Re/Max Champions real estate office. The first-ever Crystal La-
goon in the U.S., a 7-acre water park in the middle of the development set to open this spring, is the driving force behind the surging sales there. Homes there “are sold as soon as they go on the market,” he said. Apartments in the region have been just as popular as houses. Thousands of units have been built and Armstrong said 400 units are under construction now—most of which will be leased almost immediately. LoCicero said the average bottom price of single-family homes in the Wesley Chapel region is up about 20 percent in the last three years, to about $250,000. Because fees and taxes are about a third lower than in Hillsborough, however, Wesley Chapel is more than competitive, he added. LoCicero said there is about three months of inventory (available homes), which makes it an “aggressive sellers market,” but the demand among buyers between the ages of 30 and 50 with children has not waned. “It’s location, location,” said Christian Bennett, broker owner of Re/Max Champions. “It’s still affordable and people are buying for the (community) amenities— clubs, dog parks, children’s recreation centers, lakes for canoeing and kayaking—and schools and shopping. “They’re not just looking for a house; they’re looking for a community.” While it’s apparent there’s a lot to like, the Achilles heel is infrastructure. If it fails to keep pace, growth will hit a wall. That’s why Pasco County officials are vigilantly planning, said Dan Biles, Pasco County administrator. “It’s a challenge” due to the rapid expansion, said Biles, but he added that the county’s Metropolitan Planning Organization has good plans in place, projects are in the works to improve traffic flow and the county works with the state to secure funding support. Roads are a big concern. Anyone traveling north on I-75 during the afternoon rush hour has experienced the slowdowns approaching State Road 56. Keeping up with transportation needs in the area is paramount because the Wesley Chapel re-
There’s still lots of room to grow in the Wesley Chapel region, where pastureland still abounds. Here grazing cattle are seen with the Pasco-Hernando State College Wiregrass campus in the background.
gion has become a destination for scores of non-resident shoppers. With powerhouse draws like The Shops at Wiregrass, Tampa Premium Outlets, Cypress Creek Town Center and Florida Hospital Center Ice luring shoppers and visitors from far and wide, traffic woes become exponential. There’s hope in sight. Plans are for the construction of a diverging diamond at I-75 and S.R. 56 to begin in the summer. The design provides multiple traffic lanes that crisscross to keep traffic flowing and it’s expected to reduce the bottlenecks getting on and off I-75, said Biles. The project is estimated to cost around $40 million and will take two years or more to complete. Biles said county impact fees will be monitored periodically to ensure they “grow with the need” and the county’s strategy is to “stay ahead” of growth. Last summer the Pasco County Commission voted to nearly double school impact fees over three years.
Like all hot housing markets, buyers should be aware that “it’s more of a sellers market,” said Bennett. “Inventory (of available homes) is not much and many buyers are waiting for new builds.” He notes that buyers on the hunt may find some pre-owned homes due to people relocating for work or retiring, but don’t expect to find many foreclosures or distress sales. Bennett said lending rules are more restrictive these days and most buyers are well qualified. That, along with the economy doing well, means the high numbers of foreclosures of just a few years ago are not likely to be seen again anytime soon. Sellers may have the upper hand now, but buyers who “get in” anywhere in this dynamic region can expect their homes will appreciate at a rate that well outpaces the overall market, Bennett said.
Large, two-story homes featuring three-car garages are a common sight in the Wesley Chapel region. These spacious homes are located in Ballantrae Park just off S.R. 54 east of the Suncoast Parkway.