SI Real Estate Tampa and The Beaches

If you heard that housing starts increased 12% from November to December 2012, you would probably think that it sounds like good news.   If you learned that housing starts increased almost 37% from a year ago, you may stop to think, just how significant are those numbers? The national 2012 year over increase shows that newly constructed homes totaled 954,000; a hefty increase from the previous year, which only recorded 697,000. Not only are new houses being built for current and future home buyers, but they are also being completed at a much higher rate.   About 80,000 more homes were completed in the last year compared to 2011.   A contributor to these upticks includes the authorization of building permits, which are also up close to 200,000 units from the previous year.   So what..? Clearly the housing starts are indicative of real estate market that is showing impressive signs of growth. These home starts show that builder confidence is at a peak and...

Pending home sales see a 4.1% increase from February to March 2012. These figures have increased 12.8% since last year at this time, which is also the highest it has been since April 2010. Lawrence Yun, chief economist for the National Association of Realtors, says, “The housing market has clearly turned the corner. Rising sales are bringing down inventory and creating much more balanced conditions… which also means home prices will be rising in more areas as the year progresses.” This information is simply information, unless you use it to your benefit when mapping out your Real Estate Goals. Call SI today to talk about how you can take advantage of a changing market!

A recent study conducted by the National Association of Realtors shows that housing affordability has been at an all time high thus far through 2012. The Housing Affordability Index is relative to median home prices, median home income, and average home mortgage rate. Buying power is the result of a higher index. Here in the Tampa, Florida market, the Housing Affordability Index is higher than most cities in the country. President of the National Association of Realtors, Moe Veissi, says the most recent study highlights the opportunities that more and more people are ready to buy, and some may not even know it. The “100 point” mark is reached when a median income level producing household is ready to purchase a median priced existing single family home. Being that the index is above 200 right now, the majority of Americans have double than what is actually needed to buy a home. Florida’s Bay area, which includes Tampa, St. Petersburg, and Clearwater, is currently at 154.4 as it re...

Many benefits come with the purchase of your home, such as having a place of your own, having stable housing costs, having a sound investment, having a financial stepping stone and even having access to tax benefits. There are important criteria that should be considered when buying a home, regardless if you are a first-time home buyer , second home buyers or real estate investor. Knowing the home buying process will help make your experience a smooth and pleasurable one. Set the stage for an easier home buying process. 1. Find professionals you can trust. - Ask questions and express your concerns up front. - Learn what to expect — and what will be expected of you. - The right people will walk you through, talk you through — and see you through! 2. Start with getting pre-approved. - Loan pre-approval gives you a rough estimate of how much you may be able to borrow. The process will help you figure out how much you can afford. 3. Determine the right financing for you. - There are many l...

Tampa Buyers Choose Highly Desirable Westchase Area Lake Chase is a lake front gated residential community surrounded by lush and tranq uil landscape. Residents enjoy a resort style pool and sauna, a 24-hour fitness center, tennis courts, a playground, winding nature trails and a large community club house. Lake Chase, adjacent to the master planned and highly desirable Westchase community development in Northwest Tampa, is conveniently located near shopping, dinning, schools and entertainment. Home owners enjoy an exciting, fun, and active community with access to numerous parks and recreational facilities, convenient retail shopping and outstanding schools, all within a few short miles. The Westchase Square retail center is located five minutes from Lake Chase and includes a grocery store, bank, dry cleaner and other necessary services as well as a wide variety of restaurants and entertainment. Along with the local conveniences offered by the community, Lake Chase is also located n...

One of the best real estate successes offering aid in this troubled housing market is the FHA loan program. What exactly is an FHA loan? For those who might still be confused about their financing options, an FHA loan is a United States federal assistance mortgage loan insured by the Federal Housing Administration. The loan program, usually issued by federally qualified lenders, can provide an affordable financing option for many first-time and second home buyers. The current property prices offer an excellent opportunity for investing and because of this cash buyers have taken an active role in today’s real estate market. For home buyers who have had trouble competing with these cash investors but have 3.5 percent to put toward their purchase, finding an FHA approved condominium communities is an excellent option. FHA recently came out with its long-awaited rules on condominium loans, and they are a mixed bag for investors, second home and other buyers and sellers. FHA has said it wil...