Tampa Homes Best Buys Blog

I knew we were awfully busy lately. I told my husband the day after Christmas the phone started ringing and I went a couple of months with hardly a day off. The average sale price also rose last month in several counties around Tampa Bay.
Hillsborough county sales were up 32% in March. The housing “affordability index” is the best it’s ever been. That figure is a mix of interest rates and home prices. If you know of a first time home buyer, please have them contact me. It’s a great time to buy! Janet Montano, Keller Williams Realty, 813-956-3563
www.tampahomesbestbuys.com

If you are considering a loan modification or short sale, make sure your agent gives you the new required disclosures for M.A.R.S. These are new requirements from the Feds to make sure you do not get “taken” by any company charging up front fees to help you get a loan modification. Many times my clients have told me they gave $1500 to $3,000 to a company up front, and then had nothing to show for it. The only people allowed to charge up front for this service are attorneys. Real estate agents are paid by your mortgage company for doing the short sale. I’ve never asked for any money up front from my clients.
If you’d like copies of these forms, just send me an email or give me a call. JMontano@JanetMontano.com or 813-956-3563. www.tampa-foreclosure-solutions.com

Thinking about short selling your home? Check out our new informational website. www.tampa-foreclosure-solutions.com

If you have a loan with Bank of America and are thinking of doing a short sale, get ready to close quickly! My team has been amazed at how quickly we are getting our short sale listings with them approved.

But prices are still falling. The tax incentive once again pushed real estate sales in our area. Some homes saw multiple bids on them as first time home buyers competed for the best deals at the end of the tax time frame. Overall prices are still falling a little, about 1%. Other areas of the country are actually showing increases in value. To get the latest value of your home, go to www.tampahomesvalues.com

I had my first investor/second home condo buying tour last weekend. It had a good response. Beachwalk condos represent a good value and cash flow position now. They originally sold for $200k to $286k, now they are $40k to $90K. The higher end of the price range has a bay view.
According to USA Today, investors are buying around the country now. And most are buying with cash.
Tampa home sales are up again for Feb 2010 over Feb 2009. The tax credits are helping to stabilize prices.

You now have time to finish up a short sale purchase. I have dozens available for you to choose from. Pres. Obama extended it until April 30th.

 

What do bees, mold and green pools have in common?

 

These are all issues I�ve been dealing with on foreclosures or short sales for sale.   Although this is a fantastic time to buy (especially for first timers), you need to be very selective about homes that are not being lived in or not taken care of by absentee owners.

 

One house we have under contract has a hole in the exterior wall and some bees have set up honey production inside.  It turns out you cannot just kill the bees and patch up the hole.  You must have it all removed by a licensed beekeeper and get the honey comb out or it will grow mold.

 

Green pools with frogs and turtles living in them are now common place.  I had 5 turtles rescued from 1 of my listings.   

 

And I donâ��t even open refrigerator doors any more—not after the maggot story I have to tell.  It wasnâ��t funny when it happened, but now my husband and I enjoy telling the story after a glass of wine when good friends are over (only after we have eaten do I tell it!)   Letâ��s just say that whenever I call the housecleaners to do work on a new foreclosure listing, they now ask if maggots are involved.

 

Buyers are looking for deals these days, but you really need to use a Realtor who has rehab (fix up) experience or has worked around construction for a while.  That will save you lots of time and trouble in the long run!  And make sure you do an inspection on any house you are considering purchasing.

 

Visit my website at www.tampahomesbestbuys.com

 

Janet Montano, Broker  813-956-3563

jmontano@janetmontano.com

I have spent almost all week working with first time home buyers. It does my heart a world of good to see them looking at homes and getting prequalified by lenders.
For so long, Realtors couldn�t help them. Move up buyers, cash buyers and investors with larger down payments were knocking them out of the market.

Now it�s first time home buyers time! Look at these reasons to buy your first home:

1. $8,000 tax credit. You can amend your 2008 tax return and get that check now!
2. USDA Rural Program with 100% financing and no PMI. Who needs subprime when you have this? Any lender can do this loan and rates are very low. No mortgage insurance. In the Tampa area you can buy in the New Tampa/Tampa Palms area and in Pasco county from the Suncoast over to Wesley Chapel. By the way, that�s also where property taxes are some of the lowest around.
3. Prices have hit bottom. Realtors know before the media does. If you wander through my Remax office, you�ll see agents �high 5�ing� each other. The phones are ringing and everyone is busy showing real estate. Inventory is plentiful. I showed 2 houses today that were priced around $150k that were not short sales and were in move in condition. 3 bed, 2 bath, 1 or 2 car garages. One even had a nice pool.

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