SI Real Estate Tampa and The Beaches

Tampa Bay real estate homeowners, sellers, buyers and investors – take note! There is good news today for anyone involved with real estate. MSNBC.com reported in an article titled Mortgage Rates Fall to Lowest Level of the Year that mortgage rates have fallen to the lowest level of the year. Both 30-year and 15-year mortgage rates have dropped this past week. ”The average rate on a 30-year fixed rate mortgage dipped to 4.84 percent this week from 4.93 percent a week earlier. The average rate on a 15-year fixed-rate mortgage was 4.24 percent, down from 4.3 percent last week.” Home buyers will benefit from these near historic low rates. Home sellers will benefit as a larger number of buyers will be looking to purchase a home. Investors can cash in on the great rates with their investment purchases as well. Let us not forget those homeowners who already have a mortgage and would like to consider refinancing. Everyone stands to benefit! These low interest rates following on the heel...

Relief with HAFA Short Sale Program! Real estate and home sellers! Help is on the way! The 2009 First-Time Home Buyer Tax Credit and the Move Up/Repeat Home Buyer Tax Credit have been wildly successful programs that were specifically designed to help those who wished to buy a home. With all of the programs designed to help home buyers recently, many may be asking what about help for home sellers? Certainly sellers are in need of some long overdue relief as well. The Home Affordable Foreclosure Alternatives (HAFA) program may just be that long awaited help that sellers have needed for years. According to the National Association of Realtors® article Home Affordable Alternative Program (HAFA) , ”In 2009, the Treasury Department introduced the HAFA program to provide a viable option for homeowners who are unable to keep their homes through the existing Home Affordable Modification Program (HAMP). The HAFA program takes effect on April 5, 2010—although some servicers may implement it so...

Tampa Bay area real estate buyers, agents and sellers worked feverishly to meet the demands of first-time home buyers and move-up/repeat home buyers as they raced to beat the April 30th deadline to get a binding contract in place. The good news was not just for home buyers who were able to meet the deadline to earn the tax credit, but also for sellers who were able to benefit from this opportunity. With so many people eager to place an offer on a home, many sellers found themselves in a unique position of receiving multiple offers and dealing with bidding wars. This, of course is in contrast to an otherwise difficult market for sellers as buyers have been in the driver’s seat for a few years now. The tax credit was an extension of the original first-time home buyer tax credit which was enacted in February of 2009. The original deadline for first-time home buyers was November 30, 2009, but that deadline was extended to April 30, 2010. Additionally, a separate credit was enacted for mo...

Featured Property of the Week – 3504 N. 12th Street  Tampa, Florida This lovely bungalow style home was originally built in 1928 and the gorgeous architecture gives the home loads of character, and also serves as a proud reminder of the amazing history of the Ybor City District. This eye-catching home sits in the heart of historic Ybor Heights with a fantastic location that is close to Ybor, downtown, I-275, I-4, Tampa’s finest restaurants and nightlife! This area is undergoing an incredible revitalization and the chance to live here is NOW! New homeowners will love the imaginative architectural design concepts and the charm of the 1920's that just is not found in the homes built today! Along with its impressive features, the home is 100% mechanically complete and cosmetically appealing. Additionally, the home has a new roof, air conditioner, hot water heater, and floors. The electric and plumbing in this historic home have been completely updated and brought to 2006 st...

Real Estate Buyers: This is Your 11th Hour! First-time homebuyers have been making up a large share of home sales in Tampa, Florida and across the nation. The extension of the First-Time Homebuyers Tax Credit has been a huge factor in this equation. According to HousingWire’s article First-Time Buyers Take Larger Share of Home Sales in March , first-time homebuyers accounted for 48.2% of all home purchases in the month of March, which was greater than the previous high of 46.9% last October 2009. Thomas Popik, research director for Campbell Surveys stated “The strong participation of first-time homebuyers this spring is a welcome surprise. Many observers had felt that the pool of first-time homebuyers had been depleted last fall, but this is turning out not to be the case. Instead the normal spring-summer buying season is combining with the tax credit to produce blow-out results for first-time homebuyers.” SI Real Estate has seen first-hand the enormous affect of the extension of...

Time is running out! The real estate clock is ticking for those interested in purchasing a home and taking advantage of the First-Time Homebuyers Tax Credit or the Move-Up/Repeat Homebuyers Tax Credit. Anyone who has been tuned into the real estate market at all is aware that the April 30, 2010 deadline is looming to get a binding contract in place in order to qualify for the tax credits. First-time homebuyers stand to earn up to $8,000 and move-up/repeat homebuyers up to $6,500 in actual tax refunds. However, time is truly of the essence. Your time is now!! In an effort to motivate buyers to find their perfect home and meet the tax credit deadline, Florida realtors and sellers held a statewide open house on April 10th and 11th to showcase properties for sale. Florida is not the only state to participate in this open house concept. April 10th and 11th were officially designated “Open House Weekend” and states across the country participated. It was an incredible opportunity for b...

Life after April 30, 2010 The clock is ticking for first-time home buyers and move-up/repeat home buyers wishing to take advantage of the generous federal tax credit. April 30th is the drop-dead date to get a binding contract in place with June 30th being the date these deals must be closed by in order to qualify for these incredible tax benefits. As realtors rush to find that home for their buyers to purchase and lenders work to get those deals closed, many wonder what real estate life will be like after April 30, 2010. Will there be another wave of aid to come to the housing market? If so, what will it be? The Obama Administration continues in its efforts to stabilize the housing market, and there is much talk now of focusing the next round of aid on mortgage principal forgiveness. These efforts are both creative and somewhat controversial at the same time. According to NuWire Investor’s recent article Next Wave of Housing Aid Will Focus On Mortgage Principal Forgiveness , “As the...