Archive for October, 2008

Simple Tampa Real Estate Market Reports

October 27th, 2008 categories: Real Estate Market Reports, Tampa Home Buyer Tips, Tampa MLS, Tips for Sellers

From a recent visitor:

Hi Lenny,

I have to tell you I really like your market snapshots.

She is referring to the Market Snapshot that we offer on our websites. The Snapshot is a valuable tool for Tampa home buyers or sellers. Why? Because it offers a real-time view of the market for a targeted neighborhood.

Buyers and/or sellers can:

• Gauge how the market is trending
• Find out what sold most recently and
  for how much
• Understand how homes compete on
  price with other properties selling in
  the area
• View homes for sale with photos to
  better assess the market conditions

The Market Snapshot can also be updated and delivered by e-mail on a regular, on-going basis.

Tampa real estate market reports

Posted by Lenny Gurvich | No Comments »

Go Rays!

October 22nd, 2008 categories: Uncategorized

While I’m a big Rays fan, I’ve never been a big fan of the cowbells. But eleven seasons in, and a World Series championship on the horizon, the cowbell has become a defining trademark of The Trop. And when Christopher Walken appears on the big screen in the now famous SNL skit, it’s hard to not get fired up.

GO RAYS!

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Posted by Lenny Gurvich | 2 Comments »

Bank Owned Condos and Townhomes in South Tampa

October 20th, 2008 categories: Channelside Market Updates, Downtown Tampa, New Projects (Condos), Short Sale Information, South Tampa Neighborhoods, Tampa Condos

It’s not too hard too find pre-foreclosure, or short sale listings of Tampa condos these days. Condo prices were especially primed to fall hard after rising so much from 2003-2006. But many of these short selling attempts fail for whatever reason, and the properties ultimately fall into the hands of the lenders (banks). Or maybe the owner just let the bank take it without ever attempting to remedy the situation or sell it short.

But with so few condo buyers out there in recent months, some condos in prime locations are now owned by banks, and those banks are looking for buyers. In fact, some of those bank-owned condos are in places like South Tampa, Harbour Island, Bayshore highrise condos, Hyde Park, and Channelside. Some are good deals, and some, not so good (my opinion).

Buying from the bank is much easier than buying a short sale with third party approval required. The bank is the seller, banks are anxious to move inventory, and banks can offer favorable financing terms for qualified buyers. These transactions can often close quickly as opposed to short sales, in which the third party response may not come for 6-weeks. And bank-owned prices are not phantom numbers.

So if you’re a condo buyer in this current market, there are some appealing properties at appealing prices  to consider. There are 102 bank-owned condos in Tampa listed for sale currently on our MLS. Likewise, there are 76 bank-owned townhomes and villas listed for sale.

If you are considering a purchase of a Tampa townhome or Tampa condo, don’t overlook bank-owned properties. You may be suprised at what is available.

Contact us for a list of available bank-owned condos and townhomes in Tampa.

Posted by Lenny Gurvich | No Comments »

Channel District Appeals To Buyers

October 14th, 2008 categories: Channelside Market Updates, Downtown Tampa, Downtown Tampa, Tampa Condos

From some new Channelside residents relocated from St. Louis:

Hey Lenny,

The condo is fabulous… finally getting settled in and starting to enjoy the area more.  Looking forward to watching the Channelside area grow over the next couple of years - there is so much potential down here!

Thanks for all of your help in getting this one done!  We’ll keep your name handy for anyone that we may run across that is looking for a good real estate guy.

Oh yeah, thanks for the wine… it was marvelous! 

This couple came to us with a specific need. Their employer was relocating them to Tampa, and due to lots of job-related travel, they needed a low-maintenance place with a floor plan that would provide functional home office space for them both. A view would be nice, but not a necessity. St. Pete was a possibility but was quickly ruled out due to the distance from their offices.

So it was going to be a Tampa condo or a Tampa townhome for these guys. We looked at Palma Ceia townhomes, Hyde Park condos, SoHo townhomes, Bayshore condos, and even Harbour Island townhomes and condos.  But in the end the Channel District was most appealing. Despite the huge inventory of unsold units, despite the fact that some Channelside projects were in Chapter 11 or had been turned over to the lender, this couple sees the potential that the former industrial district provides.

The Channel District offers a fantastic location, which was a key factor in the decision to purchase there. They were also able to find a top floor unit, with a floor plan for their lifestyle, in Ventana, one of the more intimate projects in the area.

Questions about Tampa condos or Tampa town homes? Give us a call 813-205-1802

Want to see what’s for sale and what’s selling in Channelside? TampaMarketReports.com (zip = 33602)

Posted by Lenny Gurvich | No Comments »

Tampa Foreclosures–Ugly September

October 7th, 2008 categories: Real Estate Market Reports, Short Sale Information

The rate at which new foreclosure notices were being issued in Hillsborough County had recently been fairly stable. But not in September. In fact, Hillsborough County saw more new foreclosure notices filed in September than in any other month this year, and up almost 4% over August. The chart below tells the tale.

Maybe just a hiccup? Maybe some seasonality mixed in (trick or treat)? Time will tell. Tampa home prices have begun to show some stability, and Tampa home sales in August of 2008 pretty much matched August of 2007. So there have been signs of stability.

Lis Pendens data obtained from Hillsborough County Clerk of the Circuit Court

Posted by Lenny Gurvich | No Comments »

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