Automated Appraisals (AVM’s) Don’t Tell All….
Tampa Housing Market
Even though the Tampa housing market looks as certain to rise as the spring shoots, behind that optimism is the perennial question about whether another “dip” is coming — a lot of which has to do with Wall Street. Remembering how 2008’s economic downturn saw the housing market and stock market take blows pretty much simultaneously, it’s not far-fetched to assume that the two markets always move together. And while some folks are emboldened as stocks soar to record-level heights, for others, the same phenomenon causes altitude sickness. What goes up must…well, you know the rest!
Historically, the housing market and stock market are hardly inextricably joined. Nor should that be a surprise. On the one hand, the housing market reflects a real good (as ‘real’ as it gets!) — something that carries intrinsic utility. That won’t change until people figure out a way to exist without shelter.
Stocks, on the other hand, represent participation in ownership of a venture, and a share of financial gain (or loss) from its success. Both markets are influenced by some of the same factors (employment, inflation, etc.), but to different degrees. It’s widely agreed that the direct influence of one on the other waxes and wanes. Continue reading
Tampa FL Short Sale Process Takes Teamwork
A Tampa short sale is the option usually preferred by anyone who faces foreclosure. It’s the path that, with the approval of the mortgage lender, promises to ultimately minimize damage to the homeowner’s credit score.
According to Realty Trac, distressed sales of all kinds continued to decrease in the last reported quarter, yet the non-foreclosure short sale volume increased by 4%. That amounts to a significant 22% of all sales. Realty Trac’s are the most reliable national statistics, and our local short sale profile has likewise reflected the continuing working out of the distressed property phenomenon.
Completing a short sale in Tampa (or anywhere else, for that matter!) can be challenging. If you’ve decided that it is your best course, you can do a lot to help your agent accomplish it:
- From the beginning of the Tampa short sale process, keep your agent informed of any changes in the financial picture. That means keeping up-to-date on the changing balance remaining on the mortgage, as well as the number of missed payments. When the information is at hand, your agent can impart the sense of urgency that gets your home sold as fast as possible. Continue reading