All posts in Local Real Estate

Welcome to Tampa Real Estate News!

by Deborah Farmer on January 18, 2012 in Economy, Ethics, Events, Florida Realtors, Issues, Links, Local Real Estate, Media, Mental Health, MLS, NAR, Psychology, Remodeling, Decorating, Construction, Technology, Uncategorized, United States Government with 2 Comments

Thanks for visiting us at Tampa Real Estate News.  This is a blog developed by Realtors for Realtors, real estate agents and you, the general public.  We want you to feel free to express yourself here without worry for any political correctness.   We only ask that you keep it clean, truthful and within the confines of the NAR Code of Ethics (i.e., don’t badmouth other Realtors, etc.)  Hopefully we can share some insight into our local real estate, as well as our State and National Associations. Thanks for your participation.  Without you, there is nothing to say!

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Are stars finally aligning for Tampa Bay housing recovery?

by Deborah Farmer on January 18, 2012 in Economy, Local Real Estate with No comments

By Mark Puente, Times Staff Writer Wednesday, January 18, 2012

The worst may be over for Tampa Bay’s housing market.

The median price of a single-family home fell to $110,000 in
January 2011, climbed steadily to $130,000 in August and has not dropped below
$120,000 since.

“It’s a clear indication that we have felt the bottom
of the market,” said Kevin Chadwick, a 30-year Realtor and owner of six
Keller Williams offices with more than 400 agents in Tampa Bay. “The
market is in the process of turning.”

Craig Beggins agreed.

“I believe the market is turning,” said Beggins,
who owns Century 21 Beggins Enterprises in Apollo Beach, with more than 200
agents. “This is what we have been waiting for.”

Real estate experts and economists believe the figures point
to rising prices and increased sales, basing their optimism on the following:

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Obama to step up housing reform

by TampaRENews on January 16, 2012 in Economy, Local Real Estate, NAR, United States Government with No comments

January 16, 2012

WASHINGTON (UPI) — After a push from Democrats and liberal activists, President Barack Obama is expected to take a more aggressive stance to protect homeowners, backers say.”There’s an understanding now in the administration that there needs to be a comprehensive strategy to diminish the foreclosure rate and clean up the housing problem,” said Rep. Barney Frank, D-Mass.Frank said although the economy is showing good movement, the Obama administration needs to do something about housing, The Hill reported Sunday.

“There’s a lot of conversation going on,” Frank said.

Wade Henderson, president of the Leadership Conference on Civil and Human Rights, a leader in advocating for homeowner relief, said the administration is gearing up for action.

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The Nation’s Housing: Deductibility takes a hit …

by TampaRENews on January 14, 2012 in Economy, Issues, Local Real Estate, NAR, United States Government with No comments

Kenneth R. Harney

WASHINGTON — Though its demise drew little attention because of the partisan year-end brawl over the payroll tax cut extension in Congress, a key mortgage financing benefit disappeared at the end of December: The ability of large numbers of homebuyers and owners to write off the premiums they pay for mortgage insurance.

The loss of that tax deduction — plus mandatory new fees imposed by Congress on all new conventional and FHA loans — could effectively ratchet up the costs of homeownership this year.

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Tampa Bay home prices predicted to rise in 2012

by Deborah Farmer on January 11, 2012 in Economy, Florida Realtors, Issues, Local Real Estate with No comments

January 9, 2012

Mark Puente, Times Staff Writer

Home prices in Tampa Bay are predicted to improve 7.4 percent this year, according to a California firm’s report.

This year may bring an end to the starring role Tampa Bay and Florida have played in the national housing crisis.

Home prices in four Sunshine State metro areas are predicted to improve more than most other regions in the country, according to a Clear Capital report released today.

The California-based housing valuation and analytics firm sees a 7.4 percent home price increase in Tampa Bay in 2012, which would make it sixth in the nation in terms of predicted price improvement.

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Raskin Urges Penalties on Mortgage Servicers

by TampaRENews on January 8, 2012 in Economy, Issues, Local Real Estate, Media, United States Government with No comments
Published: January 7, 2012 at 4:35 PM ET
WASHINGTON (Reuters) – Federal Reserve Governor Sarah Bloom Raskin on Saturday said the Fed must impose monetary penalties on banks who entered into an April agreement with regulators over how to fix problems in their mortgage servicing businesses.
“The Federal Reserve and other federal regulators must impose penalties for deficiencies that resulted in unsafe and unsound practices or violations of federal law,” Raskin said in remarks to the Association of American Law Schools. “The Federal Reserve believes monetary sanctions in these cases are appropriate and plans to announce monetary penalties.”

The Sunbelt’s Comeback – Forbes

by TampaRENews on December 29, 2011 in Economy, Issues, Links, Local Real Estate with Comments Off

Joel Kotkin

Joel Kotkin, Contributor

I cover demographic, social and economic trends around the world.

Dec. 22 2011 — 11:49 am

Along with the oft-pronounced, desperately wished for death of the suburbs, no demographic narrative thrills the mainstream news media more than the decline of the Sun Belt, the country’s southern rim extending from the Carolinas to California. Since the housing bubble collapse in 2007, commentators have heralded “the end of the Sun Belt boom.”

Yet this assertion is largely exaggerated, particularly since the big brass buckle in the middle of the Sun Belt, Texas, has thrived throughout the recession. California, of course, has done far worse, but its slow population growth and harsh regulatory environment align it more with the Northeast than with its sunny neighbors.

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Shadow inventory down 16% from a year ago

by TampaRENews on December 21, 2011 in Economy, Issues, Local Real Estate, United States Government with Comments Off

CoreLogic: 1.6M homes not yet on the market represent 5-month supply

By Inman News, Wednesday, December 21, 2011.

Inman News®

<img title=”Homes image via Shutterstock.com.” src=”http://www.inman.com/files/imagecache/article-photo/files/imagefield/shutterstock_60032393-shadow-inventory.jpg” alt=”Homes image via Shutterstock.com.” />Homes image via Shutterstock.com.

Lenders had a “shadow inventory” of 1.6 million distressed properties and repossessed homes they hadn’t yet put up for sale at the end of October, down 16 percent from a year ago, loan data and analytics provider CoreLogic reported today.

Six states account for half of the shadow inventory: Florida, California, Illinois, New York, Texas and New Jersey.

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NAR overestimated real estate sales by 14%

by TampaRENews on December 21, 2011 in Economy, Issues, Local Real Estate, MLS, NAR with Comments Off

November existing-home sales up 12% from year ago

By Matt Carter, Wednesday, December 21, 2011.

Inman News®

<img title=”Balloon houses image via Shutterstock.com.” src=”http://www.inman.com/files/imagecache/article-photo/files/imagefield/shutterstock_59837908.jpg” alt=”Balloon houses image via Shutterstock.com.” />Balloon houses image via Shutterstock.com.

The National Association of Realtors says it overestimated home sales by more than 14 percent since 2007 because an adjustment that the trade group makes to data it collects from multiple listing services to account for sales that take place outside of MLSs got out of whack over time.

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Mortgage Fees Would Rise Under Payroll Tax Cut Deal

by TampaRENews on December 20, 2011 in Economy, Florida Realtors, Issues, Local Real Estate, United States Government with Comments Off

This is a post of a real estate article written by Lenn Harley.

SMOKE AND MIRRORS AGAIN ON CAPITOL HILL.  Read more HERE.

If you’re a real estate agent, a real estate broker, a loan officer, a home buyer or a home owner,

YOU HAVE A TARGET ON YOUR BACK.

Congress has done it again.  The government has targeted one group of Americans to benefit another.  This is what Congress calls “paid for” when they design legislation to benefit one group of voters and sticks their hands in the pockets of another group to “pay for it”.  In most cases of course, the group to benefit are expected to vote for the politician(s) who sponsor the legislation.  In this case it’s an extension of the so called “payroll tax cut”.  This is not a “payroll tax cut”.  Never was and never will be.  It is a clear reduction in the withholding for FICA contribution to fund Social Security benefit recipients.  Of course, as usual, the benefit is immediate and the “pay” for it will be a charge to American home owners and buyer for the next ten years.  Have we ever seen Congress buy any votes by cutting one single $Dollar of

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