Clearwater Real Estate

Here’s a great new website that gives a one stop source of the newly passed $8000 First Time Homebuyer Tax credit.

There’s even information on Veteran’s affairs and HUD home resources.  The website is sponsored by the National Association of Home Builders and despite recent reports of lean times the NAHB is stepping efforts to reach out to consumers. 

Of course, you always want to test your information with practicing professionals to be sure you are making the right decisions in differing local market conditions.  This NAHB effort is just what informed consumers need to stay on top of the ever changing legislation and events in real estate. 

From today’s news report, Chase Bank is scheduled to open Homeowener Centers in Florida later this month to assist those with troubled mortgages stay in their homes.

In my opinion, this is just the beginning of a national banking effort to work through the toxic mortgages that remain a part of the real estate downturn.  Soon, I believe others will follow just as Chase has done by opening their four centers in Los Angeles, Orange, and San Bernandino county areas according to the article.

For Florida and the Tampa Bay area, I think we may see Bank of America and Countrywide take a strong position in clearing out what is left in their portfolio to speed the process. Clearing the rest of the impending foreclosure inventory will help convince everyone there seems to be light at the end of this crisis. 

Overall, I think this is the right thing to do with the toxic assets.  Banks are better able to deal with this than government and taking affirmative action now means the bottom again seems to be on the 2009-early 2010 horizon. 

That’s good news as far as I see it from an industry that probably could use a little break from playing defense!

Quick note that could mean a good boost for early 2009 existing home sales. 

Interest rates are currently in a great zone! 

The latest report from Washington says that federal regulator wants more than 800 thrift institutions to consider suspending all foreclosures until an announcement is made in the coming weeks.

The stall in foreclosures, new construction and forced mortgage modifications could mean a turn for the good in Tampa Bay real estate.