Blog
Clear Capital HDI Market Update
While not as well known as Case-Shiller, OFHEO or CoreLogic, we also follow the Clear Capital HDI Market Report for Tampa Bay real estate data. The Clear Capital HDI Market Report shows downward pricing trends (peak, trough, secondary trough and tax credit run-ups) in home prices and an increasing of double scenario for many housing markets throughout the nation. “In terms of home prices, … [Read more...]
Tampa Bay Luxury Home Market – Selling Like Hotcakes?
We've seen a series of stories about strength in the luxury housing market such as "Who's buying homes - The rich" that cry out for fact checking. How well does this CNN template hold up? Do these national stories apply to the Tampa Bay luxury home market? Are million dollar homes selling quickly? According to MLS data, there are 632 homes for sale for over $1,000,000 in Hillsborough, Pasco … [Read more...]
Charter School Options
I recently attended informational meetings for three Tampa Bay area charter schools: Learning Gate, The Imagine School and Lutz Prep. Charter schools are independent public schools operated by non-profit organizations that receive funding from local school districts. Each charter school hires their own teachers and designs their own academic programs while still adhering to Florida's class … [Read more...]
Market Update For New Tampa
What is happening with home sales in New Tampa? Rather than relying on National Association of Realtor data, what are the 33647 zip code sales numbers? Our “Year Over Year” report measures the number of home sales each month and compares it with the same month from previous years. While seasonality and previous tax incentives impact the data, distress sales (forecloses / short sales) and … [Read more...]
Loans For Improving Foreclosed Homes
A couple visitors to TampaMoves.com noticed great prices on bank owned homes and asked "what is missing from these REO homes, we can't tell from the photos". Hence, I went to visit three foreclosed homes today and found that all three were missing kitchens! Appliances and cabinets were gone. One was missing an air conditioning and a couple vanities. Each REO property needed carpet and paint. As … [Read more...]
Case-Shiller Co-Creator Says Now Is the Time to Buy
Karl E. Case, of "Case-Shiller" fame, has an editorial in the New York Times that basically makes that case for buying real estate today. Granted, the halcyon days of hyper appreciation are over, but the math is still compelling: money is cheap, prices are way down, you must live somewhere, the government offers tax benefits, and you may still see appreciation someday. Taking a long term view, … [Read more...]
Competing Against Nothing
Buyer inertia is a major factor in the Tampa Bay real estate market today. Low interest rates and massive price drops make the average Tampa home cost half of what it did in 2006 (in terms of monthly mortgage payments), yet home buyers can't seem to get motivated. We'll address this in future posts, but yesterday's blog by Seth Godin had an interesting way to frame the issue facing Tampa home … [Read more...]
Hard Data: How Long Do "Short Sales" Take?
Once a "short sale" finally goes under contract, how long can you expect to wait for a lender's decision? A recent Deutsche Bank study looked at the short sale approval process of mortgage servicers. The report found that time frames vary by loan type. For prime loans, GMAC completed short sales the fastest - averaging roughly six months per transaction. Citigroup’s CitiMortgage took … [Read more...]
School Grades Show New Tampa Tops
Looking for top rated schools? A Tampa Tribune article on August 13th, 2010 says "If you want to enroll your child in an A-school, look north...One of the top-performing ZIP codes was 33647, which covers New Tampa. That area includes 10 elementary and middle schools, all of which received A's this year." The primary schools in the 33647 zip code are: Clark Elementary, Chiles Elementary, … [Read more...]
Mortgage Modification Programs Not Working
As of July 2010, government programs to reduce mortgage payments for millions of homeowners have helped only about 400,000 households avoid foreclosure, though nearly 530,000 have fallen out of the program. While the bailout set aside up to $50 billion for mortgage modification programs, only $248 million has been spent according to the Government Accountability Office. … [Read more...]
