Hi, my name is Rich Kemper and I am a full-time real estate agent serving the Brandon, Florida area. I live in the community of FishHawk Ranch with is located in Lithia, Florida I read the latest each and every day trying to keep my finger on the pulse on the Tampa area real estate market. None of us have crystal balls, but if you are like me you are always looking for a glimmer of hope to pass on to others.
Below is a post from ABC news today. It talks about Ybor City home sales which is really in a bad way again with many of the properties going for under 50k. I'll let you read the article. The bottom line is that they say recovery will be gradual and slow taking up to 4 or 5 years.
If you or anyone you know is looking to buy, sell, or rent a home in the Tampa area please give me a call.
Rich Kemper
REALTOR, Keller Williams Realty
CDPE - Short Sale Specialist
PCS Military Relocation Specialist
Cell: 813.777.5332
Fax: 813.684.8400
Email: getrichquick2@aol.com
I don’t work from 9 to 5. I work from start to close!
Home foreclosures
TAMPA - With more and more people falling behind on their mortgage payments, foreclosures are rampant. But Florida and the Bay Area saw a sharp drop in new foreclosure filings by banks in January. It sounds like good news...until you talk to the experts.
Eddie Serralles is a jack-of-all real estate trades. He's a real estate broker and agent, a mortgage broker and a general contractor working mostly in Ybor city and Tampa Heights.
“When I came to this market 20 years ago, there were so many abandoned homes and homes sitting vacant. It was a depressed market. It wasn't good at all,” remembered Serralles. And he says it may be worse today, in part because banks are so slow to sell homes that are in foreclosure.
“The price keeps dropping, we keep on submitting offers and deals keep falling through and we keep making more offers and trying to cooperate with the lender. By the time they accept the deal, the buyer’s already gone and found another piece of property”.
Florida is one of five states along with California, Texas, Arizona and Michigan that accounted for more than half the foreclosures last month.
A new report shows the number of foreclosures in the Tampa Bay Area dropping by ten percent, but real estate consultant Peter K. Murphy of Home Encounter in Tampa believes that's a temporary blip.
“We know for a fact that we have about eight months of foreclosure inventory on the market right now, but when you drive down the street and see a little sticker on someone's window and no ‘for sale’ sign on the yard, that's a property the bank is holding on to and not selling yet. And those are all over town,” said Murphy.
Banks are holding on to those properties because they don't want to flood the market and drive prices down even more sharply. Experts expect a slow, gradual return to normalcy lasting four or five years
Eddie Serralles is a jack-of-all real estate trades. He's a real estate broker and agent, a mortgage broker and a general contractor working mostly in Ybor city and Tampa Heights.
“When I came to this market 20 years ago, there were so many abandoned homes and homes sitting vacant. It was a depressed market. It wasn't good at all,” remembered Serralles. And he says it may be worse today, in part because banks are so slow to sell homes that are in foreclosure.
“The price keeps dropping, we keep on submitting offers and deals keep falling through and we keep making more offers and trying to cooperate with the lender. By the time they accept the deal, the buyer’s already gone and found another piece of property”.
Florida is one of five states along with California, Texas, Arizona and Michigan that accounted for more than half the foreclosures last month.
A new report shows the number of foreclosures in the Tampa Bay Area dropping by ten percent, but real estate consultant Peter K. Murphy of Home Encounter in Tampa believes that's a temporary blip.
“We know for a fact that we have about eight months of foreclosure inventory on the market right now, but when you drive down the street and see a little sticker on someone's window and no ‘for sale’ sign on the yard, that's a property the bank is holding on to and not selling yet. And those are all over town,” said Murphy.
Banks are holding on to those properties because they don't want to flood the market and drive prices down even more sharply. Experts expect a slow, gradual return to normalcy lasting four or five years
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