Tampa Foreclosures–Ugly September

October 7th, 2008 categories: Tampa Market Conditions, Short Sale Information

The rate at which new foreclosure notices were being issued in Hillsborough County had recently been fairly stable. But not in September. In fact, Hillsborough County saw more new foreclosure notices filed in September than in any other month this year, and up almost 4% over August. The chart below tells the tale.

Maybe just a hiccup? Maybe some seasonality mixed in (trick or treat)? Time will tell. Tampa home prices have begun to show some stability, and Tampa home sales in August of 2008 pretty much matched August of 2007. So there have been signs of stability.

Lis Pendens data obtained from Hillsborough County Clerk of the Circuit Court

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Tampa Real Estate Market Report

October 7th, 2008 categories: Tampa Market Conditions, Tampa Neighborhoods

A quick look at the number of:

1. Tampa Homes For Sale
2. Tampa Homes Under Contract
3. Tampa Homes Sold YTD

Tampa Market Report For Your Neighborhood

Data used is from the Mid-Florida Regional MLS all brokers/agents included. Does not include most private sales/new construction.

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Downtown Tampa….Too Much Concrete, Too Few Trees?

October 3rd, 2008 categories: Downtown Tampa, Downtown Tampa

From a (previously) prospective client:

“Mr. Gurvich,

After our visit to Tampa, my partner and I have decided not to relocate to Tampa from Tallahassee. Loved the downtown and culture, but all the concrete and lack of trees was depressing. I see why they say north Florida is the other Florida.

Thank you……”

How would you respond to that?  Feel free to comment.

Posted by Lenny Gurvich | 2 Comments »

Alternatives To A Short Sale Or Foreclosure

October 3rd, 2008 categories: Tips for Sellers, Short Sale Information

If you:

1. Took out a mortgage on or before January 1st of 2008
2. Cannot afford your current mortgage payment
3. Have made at least 6 payments
4. Do not own a second home
5. Have a mortgage payment that is at least 31% of your monthly income
6. Did not provide false information in obtaining your current mortgage

Well then, you may be able to refinance at 90% or less of your home’s current market value!

How so? Well the Hope For Homeowners program that started on October 1st 2008 and runs for 3 full years will allow you to use an FHA loan to write your loan balance down to under market value. But you’ll also have to agree to share the instant and future equity gained with the FHA.

Details

Related Posts:

But What Happens If Prices Go Down?

ARM Resets

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Tampa Home Prices Continue To Show Signs Of A Bottom

September 30th, 2008 categories: Tampa Market Conditions

The Case-Shiller Home Price Index for July 2008 was released today. Tampa’s Case-Shiller number was basically the same as it was for June. In other words, according the the CS Home Price Index, Tampa home prices in July fell little, if any, from the June levels. And this trend of a flattening in the decline of Tampa home prices goes back to April when the big declines started to wane.

The 1st quarter of 2008 saw, without a doubt, the biggest month to month decreases in the Tampa index. But since then, we’ve seen much smaller decreases. And July’s decrease of only .04 was the lowest drop in the Tampa CS Index since the decreases began in August of 2006. The chart above represents the monthly CS Tampa numbers since its peak back in July of 2006.

Case Shiller Report

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