2010 Single Family Homes Sold as Short Sales are 19% of Total Sold in New Tampa

The volume of Short Sales and REO/Bank Owned homes continue to have an impact on home sales in New Tampa, but may not be as significant as you may have been led to believe.  From January thru June, 2010 the New Tampa single family homes sold as Short Sales (reported in our MLS) represented 19% of the total sales, while REO/Bank Owned single family homes represented 13% of the total reported sold.  Non-distressed (traditional)  reported single family home sales represented 68% of the total sold for the first six months of the year in New Tampa.*

*All reported sales are from various participants in MLS.  Information deemed reliable but not guaranteed

What are homebuyers paying for single family homes in New Tampa?

The following pie chart reflects the total number of single family homes reported sold (by various participants in our MLS)  for the month of May, 2010 in New Tampa.  More than half of all the homes sold at a sales price between $200,000 and $299,000.*  Currently homes on the market in New Tampa have list prices up to over $3 million.

*Information deemed reliable but not guaranteed

Market update for Grand Hampton in New Tampa

Sixteen single family homes in Grand Hampton were reported sold in our MLS in the past month*.  Reported sold prices ranged from $150,000 for a three bedroom, two bathroom short sale home (that went under contract in October, 2009 and closed last month) to $360,000 for a four bedroom, four bathroom, 3 car garage home.  This gated and guarded New Tampa community offers resort like amenities and current Grand Hampton single family homes listed for sale have asking prices up to $700,000.


*Homes reported sold listed and sold by various participants in our MLS.

Some Cory Lake Isles homeowners still struggling to resolve bond debt

In January, 2009 some homeowners in the New Tampa community of Cory Lake Isles discovered what appeared to be a previously unknown bond debt, and today many are still struggling to understand how the bond debt affects them and their options.  Phuong Nguyen of the St. Petersburg Times, today writes that some have sought legal counsel and some have had title companies fork over money for not identifying the debt before/at closing.  Read the full article from the St. Pete Times in today's paper.

Heritage Isles bondholders seeking documents

The Tampa Tribune reports that bondholders are seeking documents six months after the Heritage Isles Community Development District "defaulted on bond payments as a result of a lack of revenue from its low-performing golf course".

According to the Tribune article, a representative of the bondholders has requested copies of documents about the golf course operations and the debt retirement agreement from 2005.

Full story from the Tampa Tribune.

2010 First Quarter Home Sales for New Tampa

A whopping 69% of the single family homes reported sold in New Tampa in the first quarter of 2010 sold for under $300,000. with 10% of the reported solds selling for less than $150,000.  Homes listed for sale in New Tampa start at $110,000.

*Information reported in MFR MLS deemed reliable but not guaranteed.

Federal Tax Credit for Homebuyers Expiring in April

The federal tax credit for qualifying first time homebuyers of up to $8,000 requires homebuyers to have a valid home purchase contract in place by April 30, 2010 and close on the home no later than June 30, 2010. (See video below.)

Home Selling Tips

Spring has arrived and it's a time when most homeowners who plan to sell, put their homes on the market.  Now is the time to start preparing your home to put on the market. See the video below for some pointers and also the links provided under the video.



Simple Tips For Staging Your Home

Flowers Add Curb Appeal

Should You Paint?

Preparing Your Home For Sale

Tampa Palms Real Estate Market Update

Ten single family Tampa Palms homes have been reported sold so far this year by our local MLS. Sold prices ranged from a low of $235,000 for a 4 bedroom, 2 bathroom home built in 1987 to a high of $697,600 for a 5 bedroom, 4 bathroom, pool & spa home on conservation built in 2007.

Currently, there are over 25 single family homes for sale in Tampa Palms with asking prices ranging from $166,000 to $3,250,000.

Short Sales Tips: 5 things you need to know about short sales (Video)

5 things you need to know about short sales (from 10 connects.com)

Homeowners increasingly opting for strategic defaults

More and more homeowners who find themselves "under water" on their homes (owing significantly more than current value) are choosing to simply walk away from the home (and the mortgage) even when they can afford to continue to make the monthly payments. (Also sometimes referred to as "jingle mail" because the homeowners often simply mail the lender the keys to the home.) See video below:

Visit msnbc.com for breaking news, world news, and news about the economy

TOUSA auctions off remaining interests in Live Oak Preserve

The local newspapers reported this week that TOUSA auctioned off its Florida interests including those in Live Oak Preserve for $81 million to Starwood Land Ventures. (TOUSA has been in Chapter 11 bankruptcy reorganization for the past couple of years.)  Some 5,500 lots were sold at bankruptcy auction statewide with over 1,000 in the Tampa Bay area.

New FHA guidelines for homebuyers

Tampa Bay Housing Starts For 2009 Down Again!

Tampa Bay housing starts for 2009 hit a low of 3,545 according to Metrostudy.  Most of the new home builders previously active in our area find themselves in bankruptcy or have left the market. 

Builder addresses Chinese drywall in Heritage Isles

From The Tampa Tribune: A homeowner in Heritage Isles with Chinese drywall gets help from home builder Lennar: LINK Wow, a builder who is doing something positive about the issue!

Market update for Pebble Creek in New Tampa

Five single family homes were reported sold within the past month in Pebble Creek.*  Sold prices ranged from $148,900 for a 3 bedroom, 2 bathroom, REO/bank owned pool home needing TLC built in 1985 to $220,000 for a 4 bedroom, 2 bathroom, pool home built in 1994. 

Asking prices for single family homes for sale in Pebble Creek currently go up to $260,000.

*Excludes any private sales

Arbor Greene market update

Seven single family Arbor Greene homes were reported sold in MLS in the last month. Sold prices ranged from a low of $155,000 for a 3 bedroom, 2 bathroom home to a high of $355,000 for a 5 bedroom, 3 bathroom home with a 3 car garage.
This gated New Tampa community has single family homes listed for sale with prices ranging from $200,000. to $700,000.

New Tampa community in jeopardy of bond default

The Tampa Tribune reports that Heritage Isles in New Tampa will default on its bond next week. According to the Tribune: "The board said it does not have the money to make the bond payment due Thursday and its debt service funds have been depleted." Full story from the Tampa Tribune

Market Update for Grand Hampton in New Tampa

Our MLS reports nine single family homes sold in the last month in Grand Hampton, located in New Tampa. The reported sold prices ranged from $185,000 for a 3 bedroom, 2.5 bathroom home to $460,000 for a 4 bedroom, 4.5 bathroom, pool home on a conservation lot.

Eighteen homes are reported under contract and there are about 50 Grand Hampton single family homes listed for sale in MLS.

2nd Quarter 2009 Home Sale Prices in New Tampa

The following chart of home sales in New Tampa shows the reported single family home sales by price category for the second quarter of 2009 from data in our local MLS system. 57% of the reported sold single family homes had a sales price of $250,000 or lower.*

There are currently over 340 single family homes listed for sale in our local MLS, located in the New Tampa area.

* Information from MLS deemed reliable but not guaranteed