Our local multiple listing service provides extensive research and informational tools to our CONSUMERS. One of our newest information sources is My Pinellas dot com. It provides real stories from Pinellas County residents and contributes information you could only get from living here.
There are plenty of pictures and videos to give you the best views of Pinellas County Real Estate without being here. The site is very user friendly and not overwhelming with technology.
If you are one of our current customers or just visiting the local area, you may find this time-saving tool just a little different than the other Pinellas County real estate websites!
Try it by clicking on My Pinellas dot com.
16
Nov
Posted by: admin / Category:
ALL Posts,
Tampa Bay Real Estate
The best part of stating the obvious is the reaction you get from those who have previously ignored the obvious. The point is that if everyone knows it, then why isn’t everyone taking advantage of it?
Well, some Buyers are taking advantage of the obvious by striking fast.
Sellers are practically desparate in some areas of the Tampa Bay real estate market. With the possibility of a near term bottom in the local real estate market many baby-boomers are flocking to Florida to get in under the wire.
I remember clearly the conversations that we had two years ago when the first of the baby-boomers had made it to 59 years. They went a little like this…”we could retire now, but with the prices of real estate we’ll wait a few years to make the move.”
Smart move! The market comes to those who wait? In this instance, it was the perfect plan. The baby-boomers can retire to Florida and have it all. Prices could not be better for a 2 bedroom condo in our local market. Prices for some retirement communities have even receded to the $50,000 level. It’s time to take a good hard look at these opportunities in the Tampa Bay area. You can do this research now with a very passive approach until your retirement date is known.
Obviously, there are a lot of condos forsale in the Tampa Bay area, the trick is to find the real deals. The ones that are in great locations and have no hidden defects. You’ll want to obtain the advice and best information from an experience professional working in the local market, first. Someone who is committed to research and education, not sales.
Remember, if everyone knows something, it doesn’t necessarily mean that they are educated enough to act at the perfect time. Our local market skyrocketed only because everyone acted at the same time.
The winners were the ones who struck out, first!
Tampa Bay area real estate can benefit greatly from the recent efforts of FHFA and its collaborative efforts to reduce the number of troubled borrowers in the Tampa Bay area. In a statement released two days ago, the director of the Federal Housing Finance Agency emphasized the new programs aimed at stabilizing communities and property values.
The statement goes on to suggest that borrowers who are at risk to lose there primary residence should be urged to contact their loan servicer to workout an affordable payment option so that they can keep their home. The statement noted that there may be provisions for customized plans if the fast-track option wouldn’t fit.
This is another jolt of positive news to the Tampa Bay home inventory situation. More workouts means less supply and a move towards stabilizing the rate of new home foreclosures.
The FHFA announcement notes that you must not file for bankruptcy to be considered for the program and you should inquire even if you are three or more payments behind. These programs are scheduled for implementation by December 15th for Fannie Mae and Freddie Mac servicers. Your loan servicer will also be encouraged financially for each loan that is modified through the new program.
Just when you read that the foreclosures are going to skyrocket, good news to offset the inventory challenge surfaces. We are seeing the tracks being laid for a turn-around in supply of homes. While it doesn’t look like the “V” model that was predicted over a year ago, it most assuredly is promising for sellers over the next 7 months!
Real Estate investors may want to take note of these marking events in Tampa Bay real estate. They are significant to the turnaround in inventory, price and gives plenty of hope now for the Tampa Bay real estate market!
