Friday, August 21, 2009

Positive, Positive, Positive Real Estate News! The Recovery Continues.

Excellent news - the U.S. real estate market is rebounding faster than expected. For the first time in five years, existing home sales have increased for four consecutive months., the National Association of Realtors announced today. Existing home sales, including single-family homes, townhouses, condos, and co-ops rose 7.2 percent to a total if 5.34 million in July. An NAR survey showed that 30 percent of the homes purchased in July were by first-time home buyers, as buyers have started to come off the fence to take advantage of the $8,000 tax credit.


The National Association of Home Builders/Wells Fargo Housing Market Index reached 18 this month, its highest level since June 2008. The numbers show that confidence among home builders is continuing on a steady rise. This increase can be contributed to buyers taking advantage of the dramatically discounted home prices, with nationwide housing affordability continuing to hover near its highest level in more than 18 year and the $8,000 tax credit posing as an appealing incentive.


In the South, existing home sales rose by 7.1 percent and the median sales price was recorded at $164,500. Florida reached its 11th straight month of sales increases, while the Tampa-St.Petersburg-Clearwater area saw sales of existing homes spike 30 percent.


Economic recovery is being seen throughout the U.S. and abroad as France and Germany recently reported a return to economic growth in the second quarter, marking a stunning turnaround from the beginning of the year. This rebound, as reported by the Associated Press, stoked hope that the recession in the wider 16-country euro area may be ending sooner than originally thought. As international economic rebounds continue, an increase of foreign buyer interest in the U.S. real estate market is being noticed.


It seems that the recovery is expected to continue, as more positive numbers are released each month.

Tuesday, August 18, 2009

Featured Property of the Week - Upgraded West Tampa Home

This week's featured property is a centrally located and newly updated, charming West Tampa home. The two bedroom house for sale located at 2710 W. LaSalle features new interior and exterior paint, upgraded cabinets and all new kitchen appliances including range and hood, refrigerator, and dishwasher, as well as a washer and dryer, new window treatments, baseboards, molding and new tile flooring. The bathroom has also been updated to include new grout, fixtures and flooring. The remodeling of this home was well thought out, aimed at preserving its pleasant qualities while adding modern luxuries.

We absolutely fell in love with this West Tampa house and its endless old Tampa charm and unique details such as the Florida room and the little niches built into the walls used to hold artwork, plants or photos. The concrete block house exudes character both inside and out with a newly painted concrete tile rood and beautiful fenced lawn with mature plants and trees. Inside the home an entirely new eat-in has been installed, reconfigured and functional.

The location is ideal for the working professional who enjoys the nightlife of South Tampa and Hyde Park and the bustling business centers of downtown Tampa and Westshore Blvd. The home is seated off of I-275 near Howard and Armenia, just minutes from great shopping, entertainment and a host of restaurants to please any palette. Tampa International Airport, International Plaza, and the Westshore business district are all easily accessible from the house.

The property is listed by SI Real Estate at $111,000 and the home's owner is motivated and willing to offer concessions. FHA financing for the property is available. This purchase would be an excellent opportunity for new home owners to take advantage of the $8,000 first-time home buyer tax credit.
  • Seller financing may be available
  • The house can be purchased for a lease option.
  • The home is also available for rent.

Visit http://www.sirealestateinvestments.com/ for more information about this property and many others through out the Tampa Bay area.