Does it sometimes seem like everything is a foreclosure or a short sale? Do not despair. While REO (real estate owned by banks) and short sales (pre-foreclosures) are a new reality in the Tampa real estate market, many homeowners and builders have homes available for immediate occupancy. My business coach talks about “the power of knowing what is true”, so I took a closer look at all listings and closings of single family homes for a sample zip code (33647 New Tampa) in October.
Of the 74 homes entering the market in October, there were: 10 Bank Owned Foreclosures (13%); 17 Short Sales (23%); 6 Builder homes (8%); and 41 homes offered for sale by the homeowner (55%).
After examining the data from the 43 homes that closed between October 1st and October 30th in New Tampa (33647), I count the following: 7 were Bank Owned Foreclosures (16%); 5 were Short Sales (11%); 7 were Builder homes (16%); and 24 were offered for sale by the homeowner (56%).
- by Dale Bohannon
