Curious about the Luxury Home Market in New Tampa? According to MLS sales data for 2011, the top 10 home sales in the 33647 sold for between $679,000 and $1,400,000. Of these 10 homes, 9 were traditional (equity) sales, one was a short sale, and none were bank owned. Top neighborhoods included Tampa Palms, Cory Lake Isles and Hunter's Green. The median home had 5 bedrooms, 4 baths, 5660 … [Read more...]
Think you need 20% down to buy your dream home in Tampa? Think again. While some conventional and investor loans require 20% down, Tampa Bay home buyers are still taking advantage of FHA, VA, HomePath, USDA and 203K loans to buy with little or nothing down. Check out this graphic from LendingTree, who just produced a new report showing the average mortgage down payments for each state. … [Read more...]
The crack down on shady short sale deals continues. Banks and government agencies cite instances of flopping, whereby real estate agents fail to disclose other contracts to re-sell property for a higher price. Florida has a long history of being the epicenter of fraudulent real estate schemes. I have see many instances of flopping in the Tampa Bay market. In fact, I had to walk away from a … [Read more...]
Looking to extend the reach of the Coldwell Banker Previews® program, we are pleased to announce a partnership with 1stdibs.com. Coldwell Banker will showcase $1 million-plus Previews® properties in the new real estate section of this premier online marketplace for luxury items. The Coldwell Banker Previews® name is one of the most respected in the exceptional marketing of … [Read more...]
Curious about the top 10 most expensive homes that have sold in Tampa thus far in 2011? See: Top 10 Tampa Home Sales Comparison of Sales Data Nine of the ten homes were located in South Tampa (Beach Park, Davis Island, Hyde Park, Bayshore Blvd, St Andrews Park), while one was in North Tampa's Avila. Sale prices for the top 10 ranged from $2,835,000 to $6,750,000. The median sale price … [Read more...]
The Hillsborough County condominium market continues to sizzle as the number of units for sale falls (see Tampa Condo Analysis). The lower priced segments, particularly the under $50,000 units, are moving with extreme velocity but not necessarily at higher prices. Investors are enticed by cap rates and the stability of the rental market. We are starting to see more buyers using self-directed … [Read more...]
In October 2011, the Tampa Bay real estate market experienced modest reductions in both the number of homes for sale, and number of homes that closed. As Charles Richardson of Coldwell Banker notes, "the active inventory of these in the market has been relatively stable for the past few months but the percentage of closed sales which is in one of these two categories has been trending … [Read more...]
The number of Tampa Bay homes for sale is down 31% since January 2011. The median sales price has declined slightly over the past couple of months. Here is a chart comparing inventory -vs- price for single family homes, townhouses and condos in the Tampa Bay market: (See Complete Chart & Table) Why are so few homes for sale? #1) Sellers … [Read more...]
Is it absolute madness that buyers can still purchase using an FHA insured loans with only 3.5% down? Does it make sense for the federal government to insure 92% of all new mortgages? Do such buyers have enough of a buffer to ride out any storms in the Tampa Bay housing market? Recent data shows that homeowners with a smaller down payments more likely to default or walk-away. A 2009 Federal … [Read more...]
What is happening with home sales in Northwest Hillsborough's 33626 zip code? This popular Tampa Bay community contains 3,373 single family homes in neighborhoods such as: Westchase, Waterchase, Highland Park, Fawnridge, Twin Brach, West Hampton, Westchester and Westwood Lakes. According to Tampa MLS data, there are 146 single family homes for sale in the 33626 area. Of the homes for sale, … [Read more...]
