Why You Should Invest in Tampa Bay Foreclosures

Tampa Bay foreclosures are on the rise and there is no better time to buy.  In today’s market it seems as if everyone is looking for a good deal.  Home buyers want a good deal and investors want more property to invest in, so the competition is pretty strong also.  The driving force is the aspiration to buy something for very little.  In reality, they are buying a home for less than market value.  What’s more appealing than that?  There is probably the likelihood that they have to make repairs on the home.  Hopefully it won’t need anything major, like a roof.  The point is, it’s a risk they are willing to take when you weigh the pros with the cons.  An inspection of the home should always be done to avoid costly repairs that could offset the potential investment.  This saves them thousands of dollars.

Make sure that the home is available to be viewed.  Sometimes buyers are not allowed to inspect the house before making an offer. The problem with buying a house sight unseen is you can’t calculate how much it will cost to improve the structure or bring it up to habitable standards. Nor do you know if the occupant will retaliate and destroy the interior.  On top of that, you may need to evict the tenant or owner from the premises after you receive title, and eviction processes can be costly.

Foreclosures are in abundance, but the work that needs to be done to get them in livable condition can tend to be sizable.  It’s not always that a house goes into foreclosure and the homeowner continues to live in it and take really good care of it.

The current market conditions make it a perfect time for a small investor to purchase one or more foreclosure properties.  During economic downturns, more upscale homes go into foreclosure, so the notion that foreclosure homes are only available in crime-ridden areas is simply not true.  Ocean front homes are also available in several areas.  So, if you are in the market to make a profit, foreclosures is the way to go.

Tampa Home Auctions and REO’s

There are many advertisements for home auctions in the Tampa area.  You may be wondering how this works and if you will actually get a better deal than a foreclosure home, short sale or a bank owned home.  These types of homes have literally flooded the Tampa bay, Fla real estate market lately and are being sought after by investors and regular buyers.  You must know that with these home auctions you are going to have some pretty stiff competition.  There are also fewer auctions than the typical home selling avenues such as short sales and bank owned properties.

The other option is a Tampa Bay REO; which is a Real Estate Owned property.  REO’s are owned by a lender, such as a bank.  An unsuccessful sale at a foreclosure auction is the result.   This is common because most of the properties up for sale at these auctions are worth less than the total amount owed to the bank. The minimum bid in most foreclosure auctions equals the outstanding loan amount, the accrued interest and any costs associated with the foreclosure sale including attorneys’ fees.

After an unsuccessful auction, the bank will go through the process of trying to sell the property on its own. It will remove some of the liens and other expenses on the home and try to resell it to the public, either through future auctions or direct marketing through a Realtor. Generally speaking, bank REO properties are in poor shape in terms of repairs and maintenance; however, real estate investors will often go after these properties as banks are not in the business of owning homes and so, in some cases, the low price can more than compensate for the condition of the property.

In summary, either option you choose will get you closer to obtaining your investment goal.  The outcome you want is to purchase a property for less than market value and hang on to it until it appreciates.  At that point you can re-sell it if you wish, cashing in your investment, or you could simply keep it longer for a larger investment.  Either way, if you do your homework you can’t go wrong.

Tampa Foreclosure Advice

When it comes to Tampa Bay foreclosures, homeowners are already scared.  They may have tried putting their home on the market and it didn’t sell.  They may have resorted to trying a short sale and that didn’t work either.  The last thing they need is for someone to take advantage of them while they are in a vulnerable state of mind.  If approached by an investor (or someone claiming to be an investor) here are some things to look for and avoid.

• Watch for investors who charge you a fee for signing your home over to them.  Why would you pay someone?  The object is for you to get paid.

• Beware of investors telling you that they will take care of any default you have on the home.  You, as the homeowner, are the only person who can cure the default.

• Be wary of investors who will buy your property, lease it to you and give you the option to buy it back.  This cannot benefit you in any way.  Think about it.  The investor obviously wants to make money, so you will be buying your own house back from them and you will have to pay more money for it.  You are better off trying for a short sale.

• Try to avoid refinancing if you can.  Chances are your credit has been affected by slow payments.  If you do get a loan it will probably be a higher interest rate and you will more than likely have to pay closing costs.

• Try not to think about bankruptcy as a solution.  Bankruptcy does not stop foreclosure.  It puts a hold on foreclosures which can allow you time to reorganize your finances.

People in foreclosure are vulnerable.  Think twice before embarking on a plan and think about the situation carefully before signing anything.  You don’t want to put yourself in a worse situation than you are already in.  If you do your homework and research different options you will find a solution that suites you and will not put you in the greedy hands of a shady investor.

Purchasing a Bank Owned Home in Tampa

In today’s real estate market there are a lot of options to both buyers and sellers alike.  Sellers can decide what type of sale they will accept.  Some will accept cash, financing, owner financing or any other way they want to work with the buyer.  Buyers have options as far as what type of home they want to buy.  For example, they can choose to buy a new home, a pre-owned home, a foreclosure home, an auction home or a bank owned home.

Let’s take the Tampa bay area for example.  The sky is practically the limit when it comes to a multitude of homes.  Tampa,FL bank owned homes, for example, are on the rise.  There are a lot of homeowners who simply cannot afford their homes anymore.  A lot of people have lost their jobs due to the economy and the bank ends up owning the home.  This is unfortunate, but a fact of life.  Buyers have an advantage when it comes to these types of homes.

This can be a tremendous opportunity for a buyer to obtain a Tampa bank owned home.  Let’s face it, banks are not in the business to hold an inventory of homes.  They want to get rid of these homes as soon as possible.  This presents a great opportunity for first time home buyers, investors, families looking to downsize or upsize.  It’s a great investment, because most of these homes are around 20% below market.

There are also other advantages to purchasing a bank owned home.  When you purchase a foreclosure home or auction home you generally have to pay for repairs, past home owner association dues, maintenance dues and sometimes past taxes.  With bank owned homes you can negotiate with the bank and they handle all, or some, of these payments for you.

Now is definitely the time to buy if you are in the market for a home.  Look into the option of purchasing a bank owned home before you jump into the purchase of a home.  You will be surprised at the advantages and financial gains associated with this.  It could very well be a tremendous investment for you and your family.

Wesley Chapel Real Estate

If you are in the market for a Tampa home, consider buying real estate in Wesley Chapel.  Wesley Chapel is considered part of the Tampa Bay Area metro and is growing in leaps and bounds.  Wesley Chapel is growing rapidly and families come from all over to populate communities such as Lexington Oaks, Brookside, Seven Oaks, Meadow Pointe, Chapel Pines, and Saddlebrook.  Several townhome developments have been built, Saddle Creek and Santa Fe.  There is also a retirement community being built by Del Webb.   Wesley Chapel real estate has a lot to offer.

Wesley Chapel has two middle schools and two high schools.  Three new malls (Cypress Creek Town Center, The Shops at Wiregrass and an outlet mall called The Grove) sit on the northern perimeter.  Shopping is close by and there are a lot of community activities to satisfy even the pickiest enthusiast.   You will want to look into the vast array of communities within Wesley Chapel.  If you are considering home in Wesley Chapel you will want to come and view your options.  It is a growing family town and has a lot to offer a family.

Riverview Homes for Sale

If you are in the market for real estate, you’ll want to check out Riverview, FL homes for sale.  The Riverview area is part of Tampa Bay.  Riverview dates back to 1856 and sits on the Alafia River’s south shore.    The term Alafia is translated as “River of Fire” due to the phosphorus on the early river bottom glowing at night.  In 1893 Riverview began to be populated on the north side of the river.  It is also a highly desirable place to live for growing families today.

If you are looking at purchasing a home, you don’t want to pass up the opportunity to look at Riverview homes.  Prices have come back down to year 2001 levels and it is a buyer’s market.  There is certainly no guarantee as to how long the prices will stay down, so if you have contemplated purchasing a home before, now may be the time to buy a home. You will not be disappointed.

Wesley Chapel Homes for Sale

If you are looking for house in Wesley Chapel, you are in the right place.  This community, located in East Pasco County is on the rise.   What used to be pastures filled with citrus trees are now upscale neighborhoods with beautiful homes of Tampa executives and their families.  There are also new shopping centers that continue to be built all around the Wesley Chapel area.

It’s also a hot market for investors who want to buy Wesley Chapel bank owned, foreclosures or short sale homes.  They can put a little money into a home, fix it up and rent it out.  The rental amount would cover their mortgage and possibly taxes on the home.  At the same time, their investment is appreciating.  It’s a way to spend less money and gain an investment that will definitely make a return.  Unlike the stock market, which is fluctuating every day, the purchase of real estate is always a sound investment.  It has been for many years.  The bottom line is that no matter what you do with that investment, you will gain.

Tampa Bay, Fla real estate is hot right now and the new families moving into the area are proof enough that the market is going strong, opposed to some other markets around.  So, if you have a desire to move to a warmer client and want to move to the Wesley Chapel area, you will want to look into Wesley Chapel real estate and what there is to offer.

Wesley Chapel real estate is in abundance at the current time and it’s a buyer’s market right now.  Whether you’re looking for land to build your own home or in the market for an existing home, you will have all of the resources at your fingertips in Wesley Chapel.  You may also want to look into foreclosures in the Wesley Chapel area.  Most homeowners who want to sell their home are in constant competition with surrounding homes.  They may need to sell their homes quickly, and that typically does not happen.  Homes are on the market for longer and longer periods of time and the prices keep coming down every day.  So, whether you are in the market now for a Wesley Chapel home or it was a thought at one point or another, the time is now.

Tampa Real Estate – Hot or Not

There has never been a better time to purchase a home and the Tampa real estate area is definitely getting better.  Real estate has been and remains the best investment available.  It’s something to consider recently, as the economy has been moving up and down.  We may not be sure where our stocks are headed, but you really can’t lose when it comes to purchasing Tampa real estate as an investment.

The media also reports that there aren’t as many homes selling recently.  That’s simply not true.  Within the Tampa housing market, in October 2008, there were 2,097 homes that sold with a median price of $150,000.  Compared to last year’s number, 2,173, this is only a 3% decrease in the number of homes closed.  For prospective buyers, there may never be a better time to buy a home than right now.  Taking advantage of the variety of homes available on the market today allows buyers the unique opportunity to find the home of their dreams.  Expanded selection, combined with low interest rates offer buyers an opportunity that may never be available again in their lifetime.

While fluctuations from year to year are normal, real estate remains one of the best performing and consistent long-term investments.  Median existing homes in the Tampa real estate market have fluctuated little compared to other markets.  Prices have come back down to year 2001 levels and it is a buyer’s market.  There is certainly no guarantee as to how long the prices will stay down, so if you have contemplated purchasing a home before, now may be the time to buy a home.The Tampa real estate market is still hot and also boasts some of the best neighborhoods to choose from, such as Westshore Yacht Club, Seminole Heights (historical neighborhood) and Hyde Park (historical neighborhood).   Seminole Heights was actually awarded the honor of Best Neighborhood, Hillsborough by the Creative Loafing Readers’ Poll.  So, for consumers looking for long-term and stable growth rates, real estate is still their number one choice.

Tampa Bay Homes for Sale

The Tampa Bay area of Florida is a wonderful place to live for a lot of reasons.  The weather is beautiful, the sun and the beaches that are close by make it feel like a year-round vacation.  A multitude of families from the northern states have packed up, moved to Tampa won’t ever return to the north.

Tampa Bay homes offer even the pickiest buyer a place to call home.  It’s also Florida’s largest open-water estuary, extending over 1031 square kilometers and forming coastlines of Hillsborough, Manatee and Pinellas counties.  Tampa is about 30 minutes from the Gulf of Mexico beaches to the west, and one hour from Disney and Universal theme parks to the northeast. The City of Tampa is Florida’s third largest city with 300,000-plus residents, while Hillsborough County has more than a million residents in all.  If you are lover of the ocean, you will know you are home, as a short drive will bring you to the water.

The Tampa Bay Area is the second most populated metropolitan region in the state of Florida, the 19th-largest metro area in the United States, the fourth largest in the Southeast behind only Miami, Atlanta and Washington, and second largest on the Gulf Coast behind Houston.  Tampa Bay homes for saleare in abundance at the current time and it’s a buyer’s market right now.  Whether you’re looking for land to build your own home or in the market for an existing home, you will have all of the resources at your fingertips in Tampa.

When it comes to homes for sale in the Tampa Bay area, there are several options available.  Tampa has some of the best home builders to choose from if you are looking to build your own home.  Here are just a few:

Beazer Homes – Beazer Homes, headquartered in Atlanta, Georgia, combines the capabilities of a national home builder with the knowledge and insight of the best local professionals. Beazer currently builds in over 40 markets in the Southeast, Mid-Atlantic, Midwest, West and Central United States. In all these areas, Beazer has a reputation as a quality home builder of superior value.

D.R. Horton – D.R. Horton, Inc., America’s Builder, is the largest homebuilder in the United States, delivering more than 41,000 new homes in its fiscal year ended September 30, 2007. Founded in 1978 in Fort Worth, Texas, D.R. Horton currently has communities in 77 markets in 27 states. The Company is engaged in the construction and sale of single-family detached homes, town homes, duplexes, triplexes and condominiums with sales prices ranging from $90,000 to $900,000.

Engle Homes – They design and build innovative homes that appeal to each lifestyle.  Whether you are choosing a villa, townhome, single-family home, or luxury home, their homes and communitiesare built to meet your needs.

These are a few of the builders located in the Tampa Bay area offering homes for sale.  You can also choose to buy a pre-existing home and the list of real estate agents for the Tampa area is also very impressive.