Recent sales of foreclosure properties in Tampa, Florida show a decline in those sales. One reason is the increase in price and another has to do with other homes being placed on the market. Empty homes tend to lose the sparkle possessed by those that are occupied.
Think about model homes that are shown with beautiful comfortable furniture, quality draperies and matching appliances. Buyers tend to select based on what they see. It is easy to be swayed by an enticing example.
Just because a home has sat empty for awhile does not mean it has been neglected. There are foreclosed homes in fairly good condition on the market, but they are few and far between. As the holiday season approaches, people traveling to this area will visit neighborhoods to see friends and family. Local businesses, especially boutiques and restaurants, are gathering points. If those guests are considering the purchase of Tampa homes, an empty home is easier to move into.
Home sales are closing faster as all parties involved are anxious to get deals completed before the end of the year. The luxury of bidding wars and long, drawn out negotiations will hamper that goal. Buyers must come to the table qualified for a loan or holding ready cash. The bank must know its bottom line and be ready to act.
A qualified local Realtor is an invaluable asset. Awareness of current market conditions and special considerations for different areas helps a prospective buyer find the right home. In some cases, the story behind the house is part of the information. Being able to pull down any liens or other data about interesting homes helps narrow the list of homes to view.
If the foreclosure home is a starter home for you, think ahead to resale value. Look at the other homes in neighborhoods you are considering. Is curb appeal present? Find out about the crime rate and the schools. What local facilities are available for families and for senior citizens? Homeowners are reverting back to the old tradition of getting a home with the intent to remain for life. If that is your mindset, this is a great area to select.