SI Real Estate Tampa and The Beaches

The 21 st century revolutionized the way we are living and everything around us and the Real Estate industry is not an exception. With introducing new ways of communicating with clients, auctioning properties online, marketing listings on the internet, and in some cases even working with customers living in other countries and purchasing properties they have never seen in real life, the Real Estate professionals had to adjust in order to stay successful. Here at SI Real Estate, we have managed to develop the perfect set of marketing efforts which enabled us to stay strong during the financial crisis and even evolve in a more successful entity during the recent years of the market recovery here in the greater Tampa Bay area. The year 2013 has been our most successful year ever and we are excited to see what the upcoming years will bring.  However, with all great achievements and growth which we have experienced as a company, we have never forgotten about the group o...

For those that do not know, “shadow inventory” refers to the real estate property inventory that is either in foreclosure and has not been sold, or properties that have been withheld from the active market with hopes of a price improvement.  With seller uncertainty of the best time to list properties, this shadow inventory causes data on housing inventory to understate the actual inventory levels in the real estate market. High levels of shadow inventory, especially in the form of underwater, modified, and delinquent mortgages, pose as a significant factor to the recovery of the housing market, but refinancing and strong investor demand for distressed properties have helped bring many properties out from the shadows and into the sunlight.   Active, Pending, and SOLD! As the largest quarter-over-quarter decrease since the beginning of the credit crisis, shadow inventory dropped from 3.28 million loans in Q1 of 2013 to 2.99 million in Q2. This represents a 35% dr...

This deal is official. Tampa, Florida will be the next destination for the retail giant Amazon .   A  fulfillment center of epic proportions is going to be buil t by the end 2014. “This is bigger than landing the Super Bowl, a national Convention or the Olympics. It’s a mega storm of growth that’s hitting our county with feeder bands that will create economic growth all over this area,” said Commissioner Sandy Murman.    An immediate investment of $200 million and creation of up to 3000 jobs are some of the notable benefits of this deal. Amazon has been trying to build a distribution center in the state of Florida for the past 3 years and Tampa is always an attractive city for business. However, high property taxes and other obstacles were slowing down this Amazon goal from becoming reality. In July 2013, Hillsborough commissioners realized the potential advantages of an operation like this and voted on lowering Amazon’s property taxes ...

The year of 2013 has proven to be quite eventful for the real estate industry, both in the Tampa Bay area and nationwide.   Over the last nine months, we have been carefully monitoring the market activity and headliners, and planning accordingly in order to stay abreast of real estate from all angles.   Starting Off Strong At the beginning of this year, Tampa’s real estate market continued the upward trend that 2012 produced. Home buyers, and the affordability of housing, were finally receiving some serious recognition, and it was a strong way to begin the year.   The number of homes that were either in foreclosure, or were seriously delinquent, dropped by over 300,000 units from October 2011 to the end of 2012, and the market quickly transitioned towards becoming a seller’s market, which is in part where we are today. Home Values Soar In the first few months of 2013, Tampa experienced an astounding 22% increase in median home sale prices, while the ...

The year 2013 has been a very positive year when it comes to the recovery of the housing market. We have followed the rising prices of homes, increase in newly build constructions sold,   homebuilders regaining trust and increasing the inventory, and we also witnessed people who went through a bankruptcy rejoining the housing market after rebuilding their credit. It is obvious that we still have work to do in order to reach the country’s potential but analysts agree on the fact that we are heading towards a bright future. According to David Crowe, chief economist for National Association of Home Builders, “the cards are in play for a decent and fairly strong recovery in 2014 and particularly in 2015.” What does this mean for people who have real estate needs but are not sure if it is the right time to enter the housing market? With a better inventory and more options on the market and with stricter but also more secured mortgage loans, the customers will realize that the ...

Real Estate Pulse 2013:     It continues to be a promising year for the real estate industry in the U.S., especially in the Tampa Bay area.   We are seeing irrefutable signs of housing recovery.   The latest excitement to make headlines is the blossoming new construction occurring in today’s market.   In July of 2013, construction spending increased to the highest level in the last four years here in the United States. With the recent low inventory levels, this is exactly what some buyers have been waiting for.   Spending increased as much at 5.2% nationwide since July of last year according to the Commerce Department figures .   As for private homebuilders, spending increased .6 %, which is the greatest change we have seen since September 2008.   Private residential construction wasn’t the only category to boast large improvements, with non-residential and factory construction also climbing to  1.3% and federal spending increasing by ...

1.5 million potential buyers There is new hope on the horizon for those who lost their homes due to the recession. The current administration has created a new rule regarding the waiting period for obtaining a new real estate mortgage backed by the Federal Housing Administration .   Previously, home owners who experienced a foreclosure or bankruptcy had to wait for three years before they could apply for a new mortgage. The new regulation makes it possible for those who have repaired their credit score, can prove their income, and have gone through a full recovery, to be eligible for a new mortgage loan in as little as one year. Many agree on the fact that this is a very positive sign for the real estate market and states such as Florida Nevada, and Arizona, have already taken advantage of this opportunity by redesigning their marketing campaigns to attract clients who have proved themselves to be financially stable after going through a foreclosure. These so-ca...