Tampa Real Estate Market Statistics for April 2015

The residensial real estate market in Tampa Bay just keeps getting tighter and tighter. The number of home for sale keep declining and the number of homes that are selling keeps increasing. Of course this is great news for home owners because the values are going up at a fast pace.

If you’re a home buyer you need to pick up the pace and buy before you are priced out of the market.

Check out the Tampa real estate statistics for April and tell me what you think.

If your buyer a home check out the most update to date Tampa MLS search. Click here

Tampa Real Estate Market Statistics – March 2015

The above video goes over the March real estate market statistics in Tampa. The data is taken directly from My Florida Regional MLS – the MLS provider for all real estate companies in Central Florida.

The inventory level is very low and forcing multiple offers on many homes as home price continue to increase in value. So if you are a buyer you should buy ASAP or you will be leaving thousands of dollars on the table.

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Tampa Real Estate Market Statistics – February 2015

I just released the Tampa real estate market statistics for February 2015. The inventory is going down and the prices are going up.

If you are buying a home and need down payment assistance give us a call. We have over 35 programs in Hillsborough and Pasco Counties or you can visit our website – click here.

 

87% of U.S. Home Buyers Qualify For Down Payment Assistance…

downpayment assistance programs… if they know where to look.

In Florida, the percentage of qualifying home buyers is as high as 97% in many counties, with an average range to the high 80’s to a low of 77%. This puts Florida 7th in the nation for the total number of down payment assistance qualifying homes.  Although, the percentage of qualifying home owners is just a single piece to the puzzle.

This data is based on the maximum price requirement for a county’s down payment assistance program, and the county’s estimated property values. There are over 2,200 down payment programs that have been found through the Down Payment Resource’s Home Ownership Program Index.

Major Findings:

* 91% of many down payment programs have available funds at this moment.

* The average down payment assistance amount across the state of Florida ranges around $11,565.

* 54% of down payment programs are Community Seconds, where the Housing Financing Agency (HFA), or a non-profit organization issues a second mortgage with a very low, or no interest rate. The payment on the second mortgage can sometimes be deferred or forgiven in increments for each year that the buyer remains in the home. In a typical situation, this could reduce the cash that is needed to close from $20,000 to only $400.

* Other major down payment program types include: First mortgage loans with 100% financing or below market interest rates, Mortgage Credit Certificates (MCC) that can provide up to $2,000 in annual tax credits for the life of the loan, and Neighborhood Stabilization Programs (NSP) grants and loans that were created to revitalize communities that have suffered from high unemployment, foreclosures, and other concerns that have slowed housing recovery.

* Many programs can be layered with each other and used with many other loan products, including FHA and VA home loans.

* 24% of down payment programs are available statewide rather than in specific counties or neighborhoods.

* Florida is one of the top states with the highest number of down payment programs.

Historically low home ownership rates across almost all of the age demographics have led to a public policy push in order to lower the barrier of home ownership through down payments as low as 3%, but the truth is, that particular barrier to home ownership is often quite lower for the borrowers who take advantage of the countless down payment assistance programs that are available nationwide.

If buyers are willing to put in a little time to find out what type of programs are available for them, they will be in a better position to buy a home with very little of their own money.

Give us a call if you would like more information on downpayment help in Tampa Bay, Florida. Please visit our website at www.tampa2enjoy.com.

January 2015 Statistics – Tampa Real Estate News

Take a look at the video about the latest Tampa real estate statistics for January 2015. This real estate market update will give you great insight as to what kind of market we are in. The data comes directly from My Florida Regional MLS. MFRMLS is the MLS provider for all Realtors in Central Florida.

Visit my website to get the most accurate MLS search in all Central Florida. I would love to help you with all your real estate needs.

Tampa Real Estate News – December 2014 Market Statistics

Above are the most accurate real estate statistics. The December 2014 data was taken directly from MFRMLS. The MLS provider for all real estate agents in Central Florida. If you have any questions please give me a call or send me an email.

2014 was a good year for real estate in the Tampa Bay area. Prices went up a little higher than the rate of inflation. This was mainly due to the low level of homes for sale in the market, opposed to a high demand of buyers wanting to buy. 2015 is looking at being an even better year as inventory will still be quite low and home prices should increase at a good rate as well.

Expect the home-purchase market to strengthen along with the economy in 2015. Here’s what Frank Nothaft (Freddie Mac‘s chief economist) had to say last month: “The good news for 2015 is that the U.S. economy appears well-poised to sustain about a 3 percent growth rate in 2015 – only the second year in the past decade with growth at that pace or better…”

If you are looking for the most accurate home search tool in all Central Florida – click here.

Tampa Real Estate News – November 2014 Market Statistics

Above is a screenshot video of the Tampa real estate market statistics for November. This information is pulled directly from our MLS in Central Florida. I pull all single family homes in Hillsborough County.

If you have any question about real estate in Tampa Bay, Florida please visit my website and give me a call.

 

Short Sale Tax Break Passes House – Mortgage Debt Forgiveness Act Extension

Flipping Real EstateThis is great news for all the home owners who have done a short sale in 2014. The Mortgage Debt Forgiveness Act expired f last year. But the U.S. House of Reps just passed a bill the will extend it through 2014. Check out the full story below.

Short-Sale Tax Break Passes House, On To Senate
A bill that would extend a key tax break to tens of thousands of financially distressed homeowners who sold their homes this year for less than they owed passed the U.S. House on Wednesday and is headed to the Senate for consideration.

A one-year extension of the Mortgage Debt Forgiveness Act, which expired Dec. 31, 2013, was included in the Tax Increase Prevention Act of 2014 and passed the House on Wednesday on a 378-46 vote. Dozens of other temporary tax breaks that expired but would get a reprieve until the end of this year under the measure include those for home energy improvements and mortgage insurance premiums.

But for homeowners who gambled this year and sold their home through a short sale, unsure about the tax ramifications, this is the one foremost in their minds, as it is for the housing market in general.”

If you have any question on selling your home through a short sale please give me a call. I have been doing short sales since 1999 and have worked with hundreds of people helping them.

Short Sale Tax Implications – Short Sale Tax Consequences – 1099 Cancellation of Debt

Home Selling Tips – Pictures

I did this “Home Selling Tips” video to tell home owners how important pictures are when selling a home. Of course it all starts with hiring the right Realtor. So I also go over a couple basic tips for making sure you hire a very good agent.

If you have any questions about selling a home please give me a call.