[Gustan Cho]

Here are some photos of the single-family home located at 12524 Blazing Star Drive, Tampa Florida 33626. Beautiful house with inground pool, pool screen, and the house facing into green belt but there’s no way I can justify on the skyrocketing home value in such a short period of time. The new generation homebuyers will hands down be priced out of the market. You factor Joe Biden and the crazy politicians, you are screwed for life.

[Gustan Cho]

Let me walk you through the chain of events how my father retired in 2000 and relocated to Florida with my mother. My dad bought a new build in the Westwood Lakes subsidivision in Tampa Florida in February 2000. Brand spanking new. Property address 12524 Blazing Star Drive | Tampa, Florida 33626 | Purchased brand new in 2000 for $200,000. Free standing single-family home facing green belt. My father sold the property for $325,000 in August 2016 because he and my mother wanted to move closer to my sister in Lakewood, Colorado. My folks sold the property and purchased a one bedroom one bath condominium in Lakewood, Colorado for $420,000 (cash purchase with no mortgage or lien). The single-family home at 12524 Blazing Star Drive, Tampa, Florida 33626 skyrocketed in value where the homebuyers of 12524 Blazing Star Drive, Tampa, Florida who purchased the property for $365,000 has sold the home for $654,500 on June 14th, 2022. Now, the buyers of the property is holding on to the exact same property, 12524 Blazing Star Drive, Tampa, Florida with a Current Zillow Zestimate Value at $752,300. Let’s take a look at the Zestimate Value of my father’s one-bedroom, one bath condominium today. A two bedroom, two bath 1,576 square feet condo unit in the same building located at 7220 W. Bonsfils Lane Unit 319, Lakewood, Colorado 80226 is valued at $603,500.

My parents unit is 7220 W. Bonfils Lane, Unit 314, Lakewood Colorado 80226.

Property Details for 7220 W Bonfils Lane, Unit 314, Lakewood, CO 80226 Overview is as follows:

• Address: 7220 W Bonfils Lane, Unit 314, Lakewood, Colorado 80226
• Type: Condominium
• Year Built: 2008
• Square Footage: 1,012 sq. ft.
• Bedrooms: 1
• Bathrooms: 1
• County: Jefferson County
• Zoning: Planned Development Mixed Use Core Urban

Sale and Tax History

• Last Sold: August 15, 2016
• Sale Price: $325,000
• Annual Property Tax: $3,953 (as of 2020)

Community and Amenities

• School District: Jefferson County R-1
• Nearby Schools: Lasley Elementary School (K-6), Alameda International High School (7-12)
• HOA Fees: Approximately $265 per month
• Amenities: Bike storage, elevator, parking, security, maintenance grounds, recycling, snow removal, trash, and water.

Additional Features

• Parking: Includes 1 garage space
• Heating and Cooling: Central air conditioning and forced air heating
• Utilities: Public sewer and water
• Interior Features: Open-concept living space, high ceilings, modern appliances including a dishwasher, dryer, microwave, refrigerator, and washer.

The property is located in a desirable area with a high walk score of 91, indicating that it is a walker’s paradise. It is also very bikeable, with a bike score of 76, and has some transit options with a transit score of 43. Per Zillow Zestimate Value, the one-bedroom, one-bath condominium is valued at $457,100 per Zillow Zestimate.

Property History for 12524 Blazing Star Drive, Tampa, FL 33626

4 bedroom, 2,486 square feet, one level with a bonus room with full bath in bonus room.

12524 Blazing Star Dr, Tampa, FL 33626

Property Sold for $654,500 on 06/14/22

Current Zillow Zestimate Value at $752,300

Estimated refinance monthly housing payment: $3,970 per month

Recent Sales and Ownership:

• June 14, 2022: The property was sold for $654,500.
• May 13, 2022: The listing price was reduced to $659,999.
• May 3, 2022: The property was listed for $665,000.

Property Details:

• Year Built: 2000
• Square Footage: 2,486 sq. ft.
• Lot Size: 0.21 acres (approximately 9,300 sq. ft.)
• Bedrooms: 4
• Bathrooms: 3
• Style: Single Family Residential
• Renovations: Last renovated in 2015
• Amenities: Includes a private pool with gunite and in-ground features, screened enclosure, mature landscaping, and more.

Tax and Financial Information:

• Annual Property Tax: $6,571 (for the year 2021)
• HOA Fees: $160 per quarter ($53.33 monthly)

Community and Location:

• Subdivision: Westwood Lakes Phase 1B
• School District: Hillsborough County School District
  • Nearby Schools:
    • Bryant Elementary School (PK-5)
    • Farnell Middle School (6-8)
    • Sickles High School (9-12)

Additional Features:

• Construction: Stucco with shingle roofing
• Utilities: Public water and sewer, cable available, electricity connected
• Zoning: Planned Development – Mixed Use (PD-MU)

The property is located in a desirable area with convenient access to local amenities and well-rated schools. It features a modern design with a focus on comfortable living and outdoor entertainment. If you compare the two different properties and how the single-family home in Tampa, Florida appreciated to $750,000 plus and the one bedroom, one-bath condominium only appreciated a very nominal amount, you can see how unstable the housing market is. Regardless, my parents made the right decision in selling their single family home in Florida and relocating nearby my sister and buying a condomininium unit because of them aging and being too difficult for my father to do maintenance and yardwork due to him getting older. I can use many comparisons such as this case scenario. However, I just cannot justify how the housing market in Florida has been skyrocketing like a ponzi scheme portal. Welcome Home! This inviting home at 12524 Blazing Star Drive in beautiful Westwood Lakes in Tampa, Florida is just what you’ve been looking for! It offers 4 bedrooms and 3 full bathrooms, including a huge upstairs bonus suite. The spacious kitchen includes a pantry and breakfast bar, a gas range, and is perfect for entertaining. The first floor master bedroom has a private spa bathroom with dual sinks, garden tub, separate shower, and large walk in closet. The laundry/inside utility room is conveniently located next to the kitchen. Two additional bedrooms and a bathroom complete the first floor layout. From the living area, open the sliding doors to the screened in patio and your in-ground swimming pool which also overlooks your tranquil conservation area. Enjoy your morning coffee within your private and peaceful surroundings, and then entertain family and friends with your beverage of choice during those fantastic Florida evenings. Westwood Lakes low HOA also includes many benefits, including a community park and playground, basketball and no CDD fees. It’s also just minutes from great dining and shopping options, as well as the Gulf Beaches and Tampa Int’l Airport. This one is a dream come true! Call Today! Room sizes are approximate.

Based on the detailed description provided, this home at 12524 Blazing Star Drive in the Westwood Lakes community of Tampa, Florida seems like a wonderful property. Here are some of the key highlights:

• 4 bedrooms and 3 full bathrooms
• Large upstairs bonus suite
• Spacious kitchen with pantry, breakfast bar, and gas range – great for entertaining
• First floor master bedroom with private spa bathroom (dual sinks, garden tub, separate shower, large walk-in closet)
• Convenient first floor laundry/utility room next to kitchen
• 2 additional bedrooms and bathroom on first floor
• Sliding doors from living area to screened patio and in-ground swimming pool overlooking conservation area
• Peaceful, private surroundings ideal for outdoor entertaining
• Low HOA fees, community park, playground, basketball court, no CDD fees
• Close proximity to dining, shopping, Gulf beaches, and Tampa International Airport

Overall, it appears to be an inviting family home in a desirable community with great indoor and outdoor living spaces. The private pool and conservation view seem particularly appealing. Let me know if you need any clarification or have additional questions!

Please try the Best Mortgage Calculator powered by Gustan Cho Associates for the most accurate PITI including HOA payments.

https://www.gustancho.com/best-mortgage-calculator/

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Best Mortgage Calculator | PITI, PMI, MIP, and DTI

We are at Gustan Cho Associates, You easily check your mortgage eligibility with the best mortgage calculator With PITI, PMI, MIP, HOA, and DTI.

[Gustan Cho]

The news about mortgage loan applications being the lowest since 1995 does not surprise me a bit. If you bought a $400,000 home in 2019 with a 3% down payment Conventional Loan, your payment would be around $2,300. 3% Rate, $7,000 property taxes, $1,200 homeowners insurance

The same house today would be worth $575,000, 7.5% rate, $9,000 property taxes, $1,800 annual homeowners insurance. Your monthly mortgage payment would be $5,200 per month. Home prices have skyrocketed to uncharted territories when most Americans are priced out of the housing market. The new generation would never be able to afford to purchase a home.

https://www.gobankingrates.com/investing/real-estate/median-home-price-by-state/?utm_term=incontent_link_2&utm_campaign=1274837&utm_source=aol.com&utm_content=4&utm_medium=rss

gobankingrates.com

Housing Market 2024: Here’s the Average Home Price in Every State

Find the median home value in your state.

[Gustan Cho]

Mortgage loan applications have reached their lowest levels since 1995, reflecting a significant decline in housing market activity. This decrease can be attributed to various factors, including higher mortgage interest rates, increasing home prices, and economic uncertainties. The combination of these factors has led to reduced affordability and demand for home purchases, impacting the overall volume of mortgage loan applications. This trend underscores the challenges faced by potential homebuyers in the current market environment. For more detailed information, you can refer to reliable financial news sources and reports.

[Gustan Cho]

Impersonating a military member, especially an Army Ranger, while wearing full military fatigues with combat heroic patches, can have serious consequences. This act is a violation of the Stolen Valor Act of 2013 in the United States, which criminalizes fraudulent claims about military service for personal gain. Penalties can include fines and imprisonment. Additionally, such actions are considered deeply disrespectful to actual service members and veterans, and can lead to social and legal repercussions.

[Gustan Cho]

BlackRock is a leading global investment management corporation based in New York City. Here are some key points about BlackRock: Blackrock is the world’s largest asset manager, with over $9 trillion in assets under management as of 2022. It was founded in 1988 by eight partners, including current CEO Larry Fink. BlackRock invests money for institutional investors like pension funds, endowments, sovereign wealth funds as well as retail investors through mutual funds and ETFs. Its core business is managing a variety of investment vehicles including equity funds, fixed income funds, alternative investments, and cash management portfolios. Besides asset management, BlackRock also offers risk management services and investment advisory services to clients. It is a publicly traded company with shares listed on the New York Stock Exchange under the ticker symbol BLK. BlackRock has a significant presence globally with offices in over 30 countries and clients in over 100 countries. Blackrock is considered highly influential in the financial industry due to its sheer size and portfolio span across thousands of public companies worldwide. BlackRock is the world’s largest and most prominent asset management firm, overseeing investment strategies for pensions, institutions and individuals globally. Here’s a brief biography of Larry Fink, the CEO and Chairman of BlackRock: Early Life and Education:

• Born in 1952 in Van Nuys, California
• Grew up in a middle-class household, with his father working as a shoe retailer and mother as a university professor
• Graduated from UCLA in 1974 with a bachelor’s degree in political science
• Earned an MBA from the UCLA Anderson School of Management in 1976

Career of Larry Fink: Larry Fink started his career in 1976 as a member of the research department at First Boston investment bank. Larry Fink became a mortgage trader at First Boston in 1978. Fink joined Blackstone Group in 1988, where he co-founded the fixed income powerhouse BlackRock as a subsidiary. Larry Fink led BlackRock through its separation from Blackstone in 1992 and its IPO in 1999. Became Chairman and CEO of BlackRock in 2007. Oversaw the acquisition of Barclays Global Investors in 2009, which helped make BlackRock the largest asset manager worldwide

Leadership and Influence: Known for advocating for sustainable investing and pushing corporations to consider environmental, social and governance (ESG) factors. An influential voice on Wall Street and in corporate boardrooms. Chairs the Board of Trustees of New York University. Vocal supporter of immigration reform and raising U.S. retirement ages

Net Worth and Personal Life: Has an estimated net worth of over $1 billion as of 2023. Married to Lori-Ann Fink since 1977, with three children. Known for his direct communication style and plain-spoken manner. Under Fink’s leadership, BlackRock has grown into the world’s largest asset manager, managing over $9 trillion in assets across active and passive strategies as of 2023.

https://www.youtube.com/watch?v=YRkaCTMQdfs

[Gustan Cho]

Comparison of Mortgage Rates: Jumbo Loans vs. Government-Backed and Conventional LoansJumbo Loans

• Interest Rate: Higher than conventional and government-backed loans.
• Current Rate: Around 7.16% to 7.21%.
• Loan Amount: Exceeds conforming loan limits (varies by region, typically over $726,200).

Conventional Loans

• Interest Rate: Lower than jumbo loans.
• Current Rate: Approximately 6.5% to 7.0%.
• Loan Amount: Up to conforming loan limits set by the FHFA.

Government-Backed Loans

1. FHA Loans:

   • Interest Rate: Lower than jumbo loans, slightly higher than conventional loans.
   • Current Rate: Around 6.22% to 7.01%.
   • Loan Amount: Up to FHA loan limits (varies by region).

2. VA Loans:

   • Interest Rate: Often lower than both conventional and jumbo loans.
   • Current Rate: Around 6.42% to 6.70%.
   • Loan Amount: No strict limits, but typically aligned with conforming loan limits.

3. USDA Loans:

   • Interest Rate: Competitive, often lower than conventional loans.
   • Current Rate: Similar to or slightly lower than conventional loans.
   • Loan Amount: Up to USDA loan limits for rural areas.

Jumbo loans generally have higher interest rates compared to conventional and government-backed loans due to the larger loan amounts and increased risk to lenders. Conventional loans offer lower rates than jumbo loans but slightly higher than government-backed loans, which often provide the most competitive rates for eligible borrowers.

[Gustan Cho]

As of June 2024, the average mortgage rate for a 30-year fixed jumbo loan is approximately 7.16% to 7.21% for borrowers with 740 credit scores. These rates can vary depending on several factors, including the lender, the borrower’s credit score, down payment amount, and overall financial profile. Jumbo loans typically have higher interest rates compared to conforming loans due to the larger loan amounts and increased risk to lenders. For more detailed information, you can refer to sources like https://www.preferredmortgagerates.com/

preferredmortgagerates.com

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Mortgage Calculator

[Gustan Cho]

Fix-and-flip loans are a very popular non-QM mortgage loan option for real estate investors. Here are a few key points about how real estate investors can benefit from using fix and flip loans: All-in-One Financing: Fix and flip loans bundle the acquisition cost of the property and the renovation costs into one loan. This simplifies the financing process by avoiding separate loan closings. Access to Funding: These loans allow investors, including those new to real estate investing, to obtain financing for purchasing and renovating distressed properties they may not have had the upfront capital for otherwise. Short-Term: Fix and flip loans are designed to be short-term, usually 6-18 months. This allows investors to renovate/flip the property quickly and repay the loan after selling. Investment Property Only: These are investment property loans specifically for non-owner occupied properties intended to be fixed up and resold quickly for a profit. Higher LTV: Fix and flip loans often allow higher loan-to-value ratios than traditional mortgages, sometimes up to 90% of the purchase price plus rehab costs. Interest-Only Payments: Many fix and flip loans only require interest-only monthly payments during the renovation period. The key benefit is bundling the acquisition and rehab financing into one loan product designed specifically for the fix and flip investment strategy of buying, renovating and quickly reselling distressed properties for profit.

https://www.youtube.com/watch?v=rOj2LJcN0EM