homes in Tampa Fl

Tampa Housing Market Predictions 2018

January 26, 2018 by Kyle Adanza

Here's my 2018 housing market prediction for Tampa, Florida. I go over 2 very strong reasons in my housing market prediction.

Transcript

Hi everyone. This is your Tampa Bay Realtor Lance Mohr. In this video, I want to do a prediction for the 2018 Tampa housing market.

If you have been following my channel over the years, a lot of you know I’m not really into predictions. I don't like to do predictions but I just get asked the question all the time, how do you think the housing markets going to do in the future. How do you think it's going to do for next year? Let me give you a prediction on what I think the 2018 housing market in Tampa is going to be like. I think it's going to be really good and there are two reasons why I say this.

Reason number 1 (Market Statistics) is there's no reason right now to think it's not. If you look at the statistics and you know I do the statistics every single month. If you look at them there's really no dip. It’s continually a seller's market. Prices are just continually going up. Homes are getting sold its real tight. As a matter of fact, we are in the first week of January, I cannot believe how many calls I have gotten from buyers. I have never gotten this many calls in 20 years a real estate from actually buyers and sellers to look for homes or lost their homes. That’s reason number 1.

The second is what I think is really probably the most popular reason and the most known reason for the housing market. Reason number 2 (Consumer Confidence) when consumer confidence is good the housing market is really good. When consumer confidence is bad, the housing market is bad. Right now, consumer confidence is it an all-time high. I have been in business in the real estate business and mortgage and real estate. Actually even before that, when I bought my first home in California at 23. I have always followed the real estate market. I have always studied the real estate market and it’s always heavily gauged on consumer confidence.

So I think it’s going to be a really good year. Of course, there's always you know the unseen things that we don't know what happened in the world but as of right now I think the real estate market is going to be really strong in Tampa. I think it’s going to be really strong throughout the entire United States. It's going to continue to be a seller's market. I hope this helps you. This is just my opinion. I’d be curious to see what your opinions are. If you think it’s going to be a good market, an average market, a bad market, what do you think?

So leave your comments below. If you have any questions for me or if I could help you out don't hesitate to contact me http://www.tampa2enjoy.com/contact-us/ and I wish you a blessed 2018 both to you and your family. Have a wonderful day.

For more informative real estate videos, please visit my YouTube channel https://www.youtube.com/user/Tampa2Enjoy. Don't forget to subscribe.

Moving Tips – One Month Before You Move

June 6, 2013 by Lance Mohr

You are very excited, after months of inspections, shows and a lot of stress; you have finally selected one of the new homes in Tampa FL to call your own.You have so many ideas when it comes to decor and just can’t wait to get started but wait-there is one last milestone you must overcome: MOVING.

Although there are professional movers available to help you, you will still need to do the packing and making sure that everything gets taken. Here are things you must accomplish from one month before you move:

1. Finalize your packing list ready. You probably already have a draft made so a month before you can start packing the things that you don’t usually loose. As you go along, you may see the need to add some things to that list or perhaps remove some.

2. Notify the post office of your changed address. This is something that should be done as early as this so you don’t forget it later on with all the chaos during your move. Make sure you accomplish this at least one month beforehand. Simply get the form for change of address and send it out or you can simply fill up the form online.

3. Notify the utility companies. From your water and electricity to your internet connection and cable, you need to inform all these companies if you want to have their services when you move. You can choose to either change your address or simply cut services from your current home and get them turned on when you move. This is also a perfect time to decide whether you want to keep or discontinue their services.

4. Notify the newspaper. This is off course if you live in one of those places where a newspaper is delivered to their doorstep each morning. Aside from the paper, you ought to also notify anyone else whom you expect to deliver anything to your door- online shops like ebay for example need to also be informed of your move.

5. Gather your important documents. It is best to gather all these essential documents a month before you move so they don’t get lost during the main move. Take them aside and find a place to put them where they are safe from the chaos your house is going through. Make sure you take care of these as losing them may result in identity theft.

These are just a few of the basics that you should prepare the month before your move. This way, you can save yourself from all the stress that comes with cramming on the last minute.

If you want to view new homes in Tampa Florida, Click here!

New Directive on Short Sales from Bank of America

May 5, 2012 by Lance Mohr

Bank of America has recently announced a reduction in the number of days it will take to decide on short sale cases. The lender has directed that the approval process should take not more than 20 days. This is a step in the right direction in resolving these cases faster and giving borrowers a chance to move on with their lives quicker. It is a direct contrast to what is happening in Florida courts. Residents of the state can now expect a foreclosure case to be concluded in no less than 861 days from the date of filing. That is a whopping 60 day increase from another survey conducted in late 2011.

Now Florida laws give borrowers the right to recover their property at any time before the case concludes as long as they have the funds. With the slow pace at which foreclosure cases are taking to get to court, these home owners have a huge grace period in which to salvage the situation and regain their property. With housing prices appearing to be reaching rock bottom, it seems likely that more borrowers will have the desire to take back their homes. For those however who would rather be done with the issue, the 2.4 year delay is a heavy burden. It adds to how long their credit scores will suffer and will be an unresolved issue for a long time. Tampa Bay foreclosure properties are in the same situation as others in Florida. For those eager to dispose of their property and move on with their lives, a short sale may be the better option.

Decline in Foreclosure Listings a Double Edged Sword

May 3, 2012 by Lance Mohr

Many realtors have begun reporting a decline in the number of foreclosed homes coming under their listings. In fact now less than half of most realtors’ listings are made up of these houses. This compared to a figure of at least 70% during the same period last year is good news. With more regular home sellers making their way to the market, we can expect Tampa area home prices to return to a more authentic level. How long this will last is however anyone’s guess. The reduction in foreclosed upon homes does not take away the fact that there is still a backlog and slow turnaround of foreclosure cases already filed in Florida courts. The state currently scores a record high of 861 days for a foreclosure case to be concluded. That is an increase of at least two months from the last quarter of 2011.

With that figure in mind, it appears that the houses that were foreclosed on last year are likely to hit the market in 2013 and those being listed now must have started the process sometime in 2009/2010. Given that the banks are now easing off to allow more homeowners to redeem their homes, it is possible that not all these cases will end in foreclosure. With over two years allowance to resolve issues, some homeowners may manage to turn things around before the cases come to an end. As market prices rise and employment opportunities increase, there is plenty of time for a real turnaround for many ailing home owners to take advantage of.

Looking At The General Financials Of Tampa Real Estate

May 2, 2012 by Lance Mohr

When shopping for Tampa Bay new homes there are a few things worth considering on the business end of the scale. The first order of business that a well-informed buyer will take care of is to know what the current real estate market is like, so you know if the price of the home you're looking at is where it should be.

Right now the market in Tampa is in good shape, as there are fewer delinquencies and foreclosures than there was this time last year. What this means to the consumer is that Tampa home prices will be lower because realtors want to get the market active on their end again.

On the financial end, it's good because people are not defaulting. Therefore, money keeps getting pumped into the economy, thus keeping it healthy. Realtors can keep this going by putting more people into homes, and also by helping to keep prices as low as they can for as long as they can.

Knowing the basics of this end of the business will help you make a more informed decision on which home to buy from a financial perspective. The personal choice is going to be solely up to you of course in regards to the neighborhood, the style and the size of the house that fits your needs and covers your wants.

Because the market has started to pick up again, you will find there are a good variety of Tampa new homes for sale. You will quickly see just by coming by and visiting that Tampa Bay and surrounding areas are a great community to live, work, retire or start a family in. Finding a good realtor is as easy as picking up the phone, as there are many across the city qualified to help you with your real estate needs.

Tampa Foreclosures – Now Or Never

April 30, 2012 by Lance Mohr

A survey done five years ago indicates that 13% of homeowners in Tampa have or know someone that has gone through the foreclosure process. With the slumping economy and the rate at which people are losing their jobs, foreclosures are becoming a common thing in Tampa. Tampa REO properties are going at a very low price, and real estate investors are having the time of their lives. So why is it a great idea to invest in a foreclosure in the Tampa area?

Whether you are planning to sell or settle in the house you buy, it will be wise to invest in Tampa foreclosures. Pinellas, Hillsborough, and Pasco Counties are just some of the few areas where bank owned Tampa luxury homes abound. Some of them face the ocean while others are situated near golf courses. You can easily own your dream house while spending less.

Unlike most cities in Florida, Tampa population seems to be growing at a very high rate. Few years from now, there will be high competition among those searching for homes, whether to buy or rent. Investing in a foreclosure will offer you the opportunity to profit from the property now or in the next few years.

As you can see, there are more than enough reasons why you should go for REO property. However, before you sign the contract, it would be wise to have the property examined by a certified inspector. Reality is that most people facing foreclosure will neglect maintenance of the property. You may end up spending even more on repair, which in turn lowers your profit.

If you are planning to settle in the property you buy, it is also important to go for one in a nice location. You need to consider security and amenities before signing on the dotted line. This will ensure your experience in the new home is a pleasant one.

Making Money On Foreclosure Discounts

April 28, 2012 by Lance Mohr

Traders are pouncing on property foreclosure discounts and then switching the qualities into money making accommodations, which has some illustrating evaluations to a “Gold Rush” of types.

Diane Gozza, the professional v. p. of Integrated Mortgage Solutions in Houston, lately had written in an article for Nationwide Home loan Information that investors are seeking the qualities just like how those risk-takers did back in the 1848 California “Gold Rush,” who also had ambitions of stunning it wealthy.

In latest months, investors have been purchasing up financial commitment qualities in volume at rock-bottom costs.

They have a lot to choose from: The government-sponsored corporations (GSE), such as Fannie Mae and Freddie Mac, own more than 200,000 single-family empty, and financial institutions own about 600,000 more. To help improve the “rush,” the Government Real estate Financial Management lately released a head foreclosure-to-rental program, providing investors the opportunity to bid on 2,500 property foreclosure qualities organized by Fannie.

But some housing professionals, such as the Nationwide Organization of Realtors® (NAR), have suggested that such REO-rental applications are not required because investors are already surging the industry to buy up home foreclosures, making a govt mediation needless. (Read “NAR: REO Lease Programs Mostly Unnecessary.”

“Taking into account the tremendous stockpile of REO qualities currently organized by the GSEs, the market and volume financial commitment in REO to rental qualities may indeed be the next precious metal rush,” Gozza creates. “Much in the soul of the 1848 precious metal rush, there will be threats and challenging training discovered. But this private-sector effort has the prospective to be the switch for a housing industry restoration.”

If you have any questions about buying a foreclosure home in Tampa please go to www.tampa2enjoy.com

What Trends Are Likely To Affect The Tampa Housing Market

April 26, 2012 by Lance Mohr

When trying to determine what direction the Tampa Bay real estate market will take, it is important to look at some indicative trends. The one factor that tends to have the biggest, but not sole, impact on the housing market is employment. With more jobs on offer come more income and a higher ability to pay mortgages. More job opportunities in certain areas also means a rise in new residents. New people means more housing is required. When the demand for housing rises, then the housing prices for both purchases and rentals tends to rise.

Another important factor is the housing inventory. With fewer properties on offer and demand rising, competition gets tight. More competition for a limited stock of houses gives realtors and home owners the incentive to raise the prices. As we have already started seeing, some highly desired communities in Tampa, such as Tampa Palms, are seeing a turnaround in home prices as fewer homes become available.

Fortunately with the recent decline in unemployment rates for Florida and slowdown in foreclosure filings in Tampa, it is likely that the market will soon get better. There is still a backlog of filings and hence foreclosed properties to deal with but it seems we may have just hit rock bottom and there is nowhere to go but up from here. The banks have also made it easier by cutting their interest rates, making it more affordable for people to take up mortgages. Hopefully this time around they will be more discerning in their approvals and not lead us up the same garden path again.

March Forthcoming Property Sales Increase, Market Recuperating

April 26, 2012 by Lance Mohr

Awaiting house earnings improved in Apr and are well above a interval ago, another sign the residence industry is reestablishing, according to the Across the nation Organization of Realtors® (NAR).

The Pending Home Sales Index (PHSI), a forward-looking sign according to agreement signings, improved 4.1 % to 101.4 in March from an upwardly improved 97.4 in Feb, and it’s 12.8 % above Apr 2011 when it was 89.9. The details shows lawful legal agreements but not closings.

The collection is now at the best level since April 2010 when it acquired 111.3.

“First 1 / 4 earnings closings were the best first 1 / 4 earnings in five years,” says Lawrence Yun, NAR primary economist. “The latest agreement identifying upon activity indicates the second 1 / 4 will be in the same way good. The residence industry has clearly transformed the position. Enhancing earnings are decreasing stock and creating much more balanced conditions around the nation, which indicates house will be improving in more locations as the interval improvements.”

The PHSI in the Northeast decreased 0.8 % to 78.2 in Apr but is 21.1 % above Apr 2011. In the Place, the gathering decreased 0.9 % to 93.3 but is 16.9 % higher than a interval ago.

Pending home earnings in the southeast part of area improved 5.9 % to a assortment of 114.1 in Apr and are 10.6 % above Apr 2011. In the Western, the gathering improved 8.7 % in Apr to 108.0 and is 9.0 % above a interval ago.

Housing Market Is Recoving Despite Foreclosure Filings

April 25, 2012 by Lance Mohr

And now for some good news, according to the RealtyTrac Inc. the rate of foreclosure filings has slowed to the lowest level in over four years. As for the bad news, it seems the decline has more to do with the major lenders focusing more on shoring their defenses up against renewed scrutiny rather than the actual reduction in default mortgage cases. Although the unemployment rate in Florida managed to make its way to the single digits, it still remains one of the highest anywhere in the country. That coupled with a serious backlog of foreclosure cases still pending in courts means that this positive news is simply camouflaging of a problem that is far from over.

It would seem that the current state of the market will be favoring the more affluent and financially able segment of the population. With the low house prices on offer, this is a good time for real estate investors to come in. They can take advantage of the bargain prices to acquire some really good properties. This together with the continued rise in rental rates should guarantee a good return on investment. Over the last few years rental rates have consistently appreciated by roughly 5% each year. Given the number of people and families that are being forced out of their homes due to foreclosures and short sales, it seems there will still be a steady stream of clients flocking to the rental market. Many Tampa communities have great deals as more people move out of their previous homes and seek more affordable accommodations.

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