Bank of America is making short sale changes. is a post from: Tampa Homes Best Buys Blog

“We’re seeing positive signs of a strengthening recovery in Florida’s housing market,” says 2012 Florida Realtors President Summer Greene, regional manager of Better Homes and Gardens Real Estate Florida 1st in Fort Lauderdale. “In both the statewide single-family and condo-townhome markets, pending sales are higher and the statewide median sales price rose – up 5.3 percent to $129,000 for single-family homes and up 18.8 percent to $95,000 for condo-townhomes. Improving the availability of affordable financing to qualified buyers and investors would continue to stabilize Florida’s housing market and economy.”

The median is the midpoint; half the homes sold for more, half for less. Sales of foreclosures and other distressed properties continue to downwardly distort the median price because they generally sell at a discount relative to traditional homes, according to housing industry analysts.

The national median sales price for existing single-family homes in December 2011 was $165,100, which is 2.5 percent below the previous year, according to the National Association of Realtors® (NAR). In California, the statewide median sales price for single-family existing homes in December was $285,920; in Maryland, it was $222,934.

Florida statewide sales of existing single-family homes totaled 12,044 in January 2012, down 5.5 percent compared to the year-ago figure, according to data from Florida Realtors Industry Data and Analysis department and vendor partner 10K Research and Marketing.

Looking at Florida’s year-to-year comparison for sales of condos/townhomes, a total of 5,963 units sold statewide last month, down 22.6 percent from those sold in January 2011. According to NAR, the national median existing condo price in December 2011 was $160,000.

“Even though closed sales are down from a year ago, there are two really bright spots in Florida’s housing market,” said Florida Realtors Chief Economist Dr. John Tuccillo. “One is a significant increase in pending sales. In fact, pending sales have been up every month since May. The barrier that stands between pending sales and closings is the difficulty consumers are experiencing in obtaining financing.

“The second positive is inventories, which are now at a point close to a balanced market,” Tuccillo said. The months supply of inventory stands at 6.4 for both the single-family homes market and the condos/townhomes market.

The interest rate for a 30-year fixed-rate mortgage averaged 3.92 percent in January 2012, down from the 4.76 percent average during the same month a year earlier, according to Freddie Mac.

To see the full statewide housing activity report, go to Florida Realtors Media Center at http://media.floridarealtors.org/ and look under Latest Releases, or download the report under Market Data at: http://media.floridarealtors.org/market-data.

The January 2012 Florida Realtors home sales release marks a new statewide housing market reporting partnership between Florida Realtors Industry Data and Analysis department and a new vendor partner, 10K Research and Marketing. Housing sales data from the state’s 63 local Realtor organizations is collected and organized with the goal of providing unique, localized market reports to the local Realtor boards and associations within Florida Realtors, enabling the groups and their Realtor members to serve as the definitive voice of real estate in their respective local markets.

At the same time, Florida Realtors is providing comprehensive statewide housing market statistics – but this new data series only includes statewide numbers. Beginning with this January 2012 housing data report, Florida Realtors is no longer reporting any market data for Realtor members’ sales in the state’s metropolitan statistical areas, as had previously been reported in partnership with the University of Florida’s Bergstrom Center for Real Estate Studies.

© 2012 Florida Realtors®

Janet Montano, Broker Assoc.
Keller Williams Realty
813-956-3563  Cell
813-354-4654  Fax
www.TampaHomesBestBuys.com
www.Tampa-Foreclosure-Solutions.com

Florida housing market upbeat in Jan. 2012 is a post from: Tampa Homes Best Buys Blog

I did a search of tax records for the number of homes Citibank owns in Tampa and the number was significantly lower than the last time I check a few months ago.

This will add more chaos to next year’s home sales when first time home buyers realize they are running out of inventory for selection when they go shopping.  Smart buyers will start looking now while most people are involved with the holidays.

Shopping for a home in the Tampa Bay area? is a post from: Tampa Homes Best Buys Blog

If you need help getting your credit up to speed, I have two major banks that do free credit counseling. Don’t pay someone to do this for you. It’s not that difficult to do it yourself. And the banks’ loan agents will tell you which things need your attention vs. what’s not that important.

Call 813-956-3563 or email me today to get started on your loan approval.

Did you hear that it can be getting tougher to get a loan? is a post from: Tampa Homes Best Buys Blog

1. Equity: When you pay rent, you never see that money again. It is lining the landlord’s pocket. Yes, buying a home may come with some hefty initial costs (down payment, closing costs, inspections), but you will make that money back over time in equity built in the home. Historically, homes appreciate by about 4 to 6 percent a year. Some areas are still experiencing normal appreciation rates. For the areas that have seen harder times since the recession, experts feel that the housing market will recover. Home ownership is about building long-term wealth. Homes in Florida will eventually go up in value again.
2. Relationships: Renters tend to see their neighbors come and go quickly. Homeowners, however, have yards, walking trails, or community pools and clubhouses where they can get to know each other. Neighbors stay put much longer (at least three to five years if they hope to recoup their closing costs). This means more time to develop relationships. Research has shown that people with healthy relationships have more happiness and less stress. Put down some roots for your family to enjoy for years.
3. Predictability: Well, as long as you have a fixed-rate term on your mortgage it’s predictable. Most people buying homes today know that a fixed-rate is the way to go. This means your payment amount is fixed for the life of the term. This allows for people to budget and make solid financial plans. The sub-prime crisis meant many homeowners with adjustable rate mortgages saw their monthly payments rise and then rise some more. Home ownership, though, generally comes with a predictable table of expenditures. Even the big purchases are predictable. You know most roofs last just 15 years (or so). You know that each year what you need to spend to maintain your home in good condition.
4. Ownership: Home ownership means you “own” your home. That comes with some incredible perks, though! You can renovate, update, paint, and decorate to your heart’s desire. You can plant trees, install a pool, expand the patio, or do holiday decorating. The bottom line is this is your home and you can personalize it to your taste. Most renters are stuck with the same beige walls and beige carpet and cheap kitchen cabinets and noisy neighbors that have been standard apartment decor for 20 years. Now is your chance to be creative!
5. Great Deals: It’s a great time to buy. Interest rates are at historic lows. We’re talking 4.0 percent instead of 6.0 or higher. This means big savings for today’s buyers. Home prices have also taken a dip since the recession, which means homes are more affordable than ever. If you have steady income and cash for a down payment, then be sure to talk to me about what homes in your area could be a fit for you. Home ownership can be a real joy. It’s time to get off the fence and into a home that is right for you! Don’t let this chance slip by. You must take action and call today to get started.

5 Reasons Why Home Ownership is Great is a post from: Tampa Homes Best Buys Blog

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Interest Rates Have Fallen Again is a post from: Tampa Homes Best Buys Blog

Another Home with Multiple Offers is a post from: Tampa Homes Best Buys Blog

Tampa Real Estate Inventory is Falling is a post from: Tampa Homes Best Buys Blog