What does average buy?
By SHARON TUBBS
Published April 24, 2006
Ballooning home prices in the Tampa Bay area have outpaced incomes, and some wonder if the American dream is now more akin to a fantasy.
The median income for a family of four in the Tampa Bay area is $54,400 a year, according to the U.S. Department of Housing and Urban Development. With that, area lenders say, a family can reasonably afford a mortgage between $150,000 and $165,000. That's taking into account several factors, including a satisfactory credit rating and that the family has other common debt, such as a monthly car payment and credit card bills.
In Pinellas County, here are four examples of houses recently available for $160,000, give or take a little:
1921 SEVENTH AVE. S, ST. PETERSBURG - $159,900NEIGHBORHOOD: Melrose-Mercy/Pine Acres
SQUARE FEET: 1,056
YEAR BUILT: 1925
REAL ESTATE LISTING: 3 bedrooms, 1 bath, remodeled, new roof, appliances, carpet and wood floor, near John Hopkins Middle School .
CURB VIEW: Beige paneling, debris in yard, landscaping needed, fence needs repair, boarded up shack-like structure next door, quiet street, funeral home across street, church nearby.
6201 65TH ST. N, PINELLAS PARK - $162,500NEIGHBORHOOD: Carpenter Park
SQUARE FEET: 1,018
YEAR BUILT: 1957
REAL ESTATE LISTING: 3 bedrooms, 1 bath, appliances, vinyl siding over concrete block, newly tiled kitchen, laundry room, new water heater.
Curb view: Beige paneling, decent front yard, sits at corner of busy street and a cul de sac, small boats and cars parked on neighborhood yards, mobile home park and church nearby.
1482 PIERCE ST., CLEARWATER - $159,999NEIGHBORHOOD: Boulevard Heights
SQUARE FEET: 1,197
YEAR BUILT: 1950
REAL ESTATE LISTING: 3 bedrooms, 1 bath, unusual architectural style, high ceilings, one-car garage, new fixtures, price reduced from $169,990 "for quick sale."
CURB VIEW: Freshly painted, palm tree in yard, tree-lined street, near low-budget apartments, motels and small shops along Gulf-to-Bay Boulevard.
3595 WHISPERING OAKS LANE, PALM HARBOR - $164,900NEIGHBORHOOD: Townhomes Countryside
SQUARE FEET: 1,020
YEAR BUILT: 1986
REAL ESTATE LISTING: 3 bedrooms, 2 baths, screened lanai, laminate wood flooring, fireplace, close to shopping.
CURB VIEW: Gray stucco, well-kept community, near deed-restricted single-family subdivision, stairwells need refurbishing, constantly barking dog in nearby unit.