Is a short sale or foreclosure in your future? Taking a hit on your credit is bad enough, but did you know that you might pay income tax on the bank's loss? The Mortgage Forgiveness Debt Relief Act (HR3648) is set to expire at the end of 2012. For short sellers of their primary residences, this act provides tax relief if they close in 2012. If you undertake a short sale, deed-in-lieu or … [Read more...]
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...]
What company has the best odds of selling your home? Who can sell your home for top dollar in these challenging economic times? Which broker has the best results and attracts the most buyers? This chart uses data from the Tampa Bay Multiple Listing Service (MLS) to compare market share of the leading residential real estate brokerage companies. The top seven brokers in the Tampa region … [Read more...]
Bank of America (BAC) has extended the deadline to apply for the "Florida Enhanced Short Sale Relocation Assistance" program until December 12, 2011. The program offers qualifying homeowners relocation assistance between $5,000 and $20,000 upon the completion of a short sale. An additional benefit for these pre-offer programs, such as HAFA and Bank of America's proprietary program, is that … [Read more...]
Are you putting off selling your home until after the holidays? With just 46 days left until 1/1/2012, why not wait until next year? Is it worth the effort of starting the process now? Consider these 12 reasons to start marketing your Tampa Bay home during the holiday season: 1. Buyers who look for a home during the holidays are more serious buyers. 2. Fewer homes are in the market, … [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...]
