Tampa Real Estate Market – Home Foreclosures July 09

Tampa Home Foreclosures

As the real estate market continues to slowly move along the # of foreclosures have not abated yet.  According to RealtyTrac 1 in every 9,104 housing units in Florida received a foreclosure filing in July 2009.  Additionally, there are over 1,818 foreclosure properties in Tampa or 1 in every 184 housing units.  The numbers by zip code are as follows

Tampa Homes in Zip Code 33606 – 40 foreclosure properties and 1 in every 239 tampa homes

Tampa Homes in Zip Code 33629 – 29 foreclosure properties and 1 in every 463 homes

Tampa Homes in Zip Code 33609 – 69 foreclosure properties and 1 in every 137 homes

Tampa Homes in Zip Code 33611 – 81 foreclosure properties and 1 in every 230 tampa homes

Tampa Homes in Zip Code 33616 – 18 foreclosure properties and 1 in every 353 tampa homes

Tampa Homes in Zip Code 33602 – 64 foreclosure properties and 1 in every 74 tampa homes

For more detailed information on Tampa Homes foreclosures and how to purchase them contact us today.

Tampa Real Estate Market Update – Existing Home Sales July

Tampa Real Estate Market/National Real Estate Market

This morning we received Sales of Existing Homes for the 2nd quarter.  The numbers came in at an annual adjusted rate of 4.76 Million up 4% from 4.58 million in the first quarter, but down 16% from a year ago according to the National Association of Relators.  On a price front in the Tampa Real Estate Market we saw a continued decrease in median selling price for existing homes from $173K in 2nd qtr 2008 to $140K in 2nd qtr 2009, however we saw an increase in price from 1st qtr 2009 to 2nd qtr 2009 of $5K. 

Once again these numbers confirm our analysis back in our April press release where we had called a bottom in the housing market.  It should however be noted that a significant # of these properties 36% were from foreclosures and short sales, with Florida having one of the biggest inventories for Foreclosures/Short-Sales

Davis Islands Real Estate Activity Report Year to Date (July)

Attached is our Davis Islands Real Estate Activity Report for July (Year to Date)  This report includes details and graphs of Days on Market and Sales Activity for the various Home Prices Levels on Davis Islands in South Tampa.  It is necessary to conduct this analysis at various home pricing levels to give users and accurate account of the Home Sales Activity on Davis Islands.  The vast difference in home sale activities when comparing waterfront properties to 2 bedroom condos can be quite great.

Davis Islands Real Estate Activity Report July 2009

Tampa Real Estate Market View – 7/28/2009 – Home Price Index

This morning the S&P/Case-Shiller Home Price Index has been released.  The % decline in the 20 city compsite continued to -17.1%, however this was less of a decline than the prior month of -18.1%.  The consensus forecast was anticipated at -17.90%.  Todays data reflects a 4th consecutive month of improving decline.  As for the Tampa home market the price decline was flat, with no change from April to May.  This was better than the  (-7%) decline in March to April.  The year-over-year change for homes in Tampa price declines came in at -20.8%.

For those of you waiting to sell your existing property or have your property still on the market hoping for Prices to rebound quickly, you have a long way to go.  These current numbers while not indicative of all area in the country or Tampa for that matter, does give a solid view of where home prices really are (down).  We suggest if you have to sell, then price it right and if you are already in the market with no sale, it is probably due to price.  In this market, at this point in time the adage needs to be ”Reduce It to Move It”. 

For those buyers still on the fence waiting for prices to decrease further, it is not likely.  If anything you are not only missing the boat from a low price standpoint, but interest rates don’t look seem to be moving much lower either.

homes, prices, real estate, tampa

Tampa Real Estate Market View 7/9/2009 – Citizens Home Rate Increase 2010

Well it looks like those of us with Citizens Property Insurance in the South Florida area might see up to a 10% increase in rates, while at the same time those individuals in other counties might actually see a decrease.

Citizens Insurance Board approved on a 5 to 3 vote a 10% increase in rates for many of its customers.  While Citizens has kept rates frozen over the last three year, they were allowed by the Florida legislature to increase rates up to a cap of 10% in 2010.

JUST SOLD: 4426 W Bay Court – Tampa FL

 

This charming neighborhood boasts pride of ownership.  The convenient location offers easy access to Gandy Blvd, Manhattan Ave, Bayshore Blvd and the Crosstown Expressway.  Business abounds at the great restaurants and boutiques just around the corner.  The location is also conveniently located to many area schools. This home has been owned by the same family since 1976.  The roof is newer and the lot size is terrific.  A courtyard in the back will allow you to extend the already generous living space.  Inside you will find three bedrooms, two baths, a family room, living room and dining room. MLS#2375323

Click this link to see details: 4426 W Bay Court

Other Current Tampa Real Estate Listings

211 West Kirby – Tampa FL

Location, location, location! This charming, Old Seminole Heights, 1950’s home is close to everything: parks, Florida Ave, I-275 and extremely convenient to downtown! It offers two bedrooms and one bath and welcomes you with large windows, hardwood floors, a generously sized kitchen and an office! The lot is deep and includes two storage sheds, a fruit tree and good space in the backyard. The front yard has been landscaped. This is a wonderful opportunity to turn this charming house into your next home! Learn more about this historic neighborhood! Search online: Old Seminole Heights Tampa! MLS#2372004

Click for Property Details: 211 West Kirby

Other Current Tampa Real Estate Listings

An Islands View (Davis Islands Real Estate) 6/24/09

In this edition of  an Islands View we are going to focus on short sales and foreclosures currently on the islands.  In the past to see a foreclosure on Davis Islands was a rarity, however with the current housing slump continuing, albeit at a slower pace in the last few months, we are seeing more properties follow this path. 

Whether it is a $115K condo listing or the $3Mplus mansion, the short sale or bank foreclosure knows now specific property size or price.  Currently, now there are 10 properties in the various phases of the short sale or foreclosure process.  The one good thing is that the prices for these properties are prime for the right buyer. 

I do not believe we will see prices or buyer leverage this strong for decades to come.

Tampa Real Estate Market View 6/24/2009 – New Home Sales

The real estate market for new home sales continued it slow pace.  The commerice department reported today that sales on new homes dropped .6% to an annual rate of 342K.  In a year over year perspective we are down some 33%.  Economist had estimated sales of 360K so this number was disappointing.

Real Estate Market View 6/16/2009: Housing Starts

New Housing Starts and Permits moved forward in May from the lows set in prior months.  Housing starts increased 17.2%  to an annual rate of 523,000 units according to the Commerce Department.  Additionally, New Building Permits rose 4% the largest gain since June of last year.

These are encouraging numbers, inparticular if we can continue to see Building Permits increase over the next few qtrs.  Since Building permits indicate future growth, that will certainly be a positive sign.

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