http://www.articletrader.com/ Articles at ArticleTrader en-us http://www.articletrader.com/finance/tampa-foreclosures.html http://www.articletrader.com/finance/tampa-foreclosures.html Sat, 23 May 2009 18:38:57 -0500 Tampa foreclosures, homes that have been assumed by banks and lenders after their previous owner's efforts to catch up on or re-negotiate payments have failed. Their unfortunate loss is your gain, since these properties are usually sold at auction to the highest bidder, often at significant savings. At these prices, you'll be competing with other investors and home buyers, so it pays to be prepared at auction to give yourself a fighting chance of winning the deed to that property.



How do you do that? By following the key points we'll discuss here regularly, topics of discussion that raise the odds of eager house hunters in search of great deals on foreclosures, courtesy of your friends at Tampa2Enjoy.



What can I do to prepare for a foreclosure auction?



Simply put, know your property. Research county records or online databases to find out who owns the property. Learn as much as you can about what's for sale, and the details of any existing liens that remain unpaid, since you'll assume them as liabilities if you buy the property. You can also obtain a property report from a real estate agent. Call the auctioneer to discover any bid requirements for the sale. Develop a maximum cash bid based on all this information, and don't deviate from your pre-determined strategy.



What is an REO property?



If a house fails to sell at auction, it becomes a bank-owned property or REO (Real Estate Owned), in which case you'll be dealing directly with a lender for the sale. Any negotiated price from this point forward will require extensive documentation, as the bank will reference a bottom-line market value with little room for fluctuation, regardless of market conditions. You'll deal with an institution by mail or fax that operates under business hours and hopes to recapture as much of the original value as possible.



Stay tuned for more tips on how to negotiate sales of Tampa bank owned homes, short sales, and foreclosures in the coming weeks, and good luck in finding your next home through research and determination.


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Lance Mohr is a full time professional Tampa Realtor specializing in Tampa foreclosures and Tampa real estate.

Source: http://www.articletrader.com ]]> http://www.articletrader.com/finance/real-estate/tampa-foreclosures-common-questions.html http://www.articletrader.com/finance/real-estate/tampa-foreclosures-common-questions.html Mon, 27 Apr 2009 19:38:00 -0500
New homes need special attention and research to select a safe, comfortable and valuable living space for you and your family. Some of the questions you want to ask yourself and your realtor during your search are the following:

Where is my home located?

The environment that surrounds your community or subdivision is as important as the home itself, because a neighborhood, development, or local economy in decline can and likely will depreciate home value as quickly as it was earned. The communities themselves will also determine the cost of new construction, regardless of the style, price range, or square footage of what you're buying. A home's proximity to major arteries or busy routes will also affect any assessment of a "good deal".

Who built my home?

Those who build new homes and developments are subject to the same scrutiny as automakers, architects, and designers, and price should not be a determining factor in recognizing skill and fine craftsmanship. Knowing a builder's reputation within a few blocks or across town can help eliminate costly repairs and the difficult position a homeowner faces when learning the truth about their property after the fact.

What were the circumstances of foreclosure?

The extra time you spend in researching Tampa foreclosures will pay dividends. A foreclosure could simply be a matter of missed payments from a financially-strapped previous owner. It could also be the product of shoddy construction that eventually led to a very expensive mistake that wasn't worth buying in the first place.

How can I get the best deal?

The answer? Find a realtor or real estate professional who knows the local area, who knows all the players and how to work the many details to your advantage. Competition for foreclosure properties can be fierce, and those who are not represented well often lose a battle of wills and common sense. Bring the knowledge and buying power of Tampa2Enjoy's real estate professionals along and bring home the best deal you can buy on New Tampa homes for sale.

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Lance Mohr is a full time professional Tampa Realtor specializing in New Tampa homes for sale and Tampa foreclosures.

Source: http://www.articletrader.com ]]> http://www.articletrader.com/finance/real-estate/about-dallas-foreclosures-and-bank-owned-homes.html http://www.articletrader.com/finance/real-estate/about-dallas-foreclosures-and-bank-owned-homes.html Mon, 02 Feb 2009 13:24:58 -0600
Dallas bank owned homes are more appealing due to the fact that the bank will handle the removal of tax liens, evict occupants if needed and typically prepare for the issuance of a title insurance policy to the buyer at closing. With Dallas foreclosures this is not the case. A lot of times you are not sure how far the homeowner is into foreclosure, so the waiting time can also be significantly longer. So, if you are in the market for a Dallas bank owned home, look into this option. It could save you a lot of money in the long run.

Dallas foreclosures are a wonderful way to purchase a home for considerably less money than the market value. You can fix the home up and sell it for a profit. You can rent it out and collect the rent for positive cash flow. You can even move into the home yourself. The sky is literally the limit. There are some things to consider regarding Dallas foreclosures.

You may find that there is a little work to be done to the home. Dallas foreclosures are caused by homeowners who could not afford their home any longer, so if there were maintenance issues, you can be sure the homeowner didn’t have the money for them either. This also means that the home will be sold “as is” due to the fact that the homeowner couldn’t, for whatever reason, make any necessary repairs. Make sure you have the home professionally inspected and if you need to sign anything make sure you write the inspection into the paperwork. Overall, a Dallas foreclosure can be beneficial in gaining more home for less money.

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Coleen Dovovan is a full time professional Dallas Realtor specializing in Dallas foreclosures and Frisco real estate.

Source: http://www.articletrader.com ]]> http://www.articletrader.com/finance/real-estate/purchasing-real-estate-in-dallas-texas.html http://www.articletrader.com/finance/real-estate/purchasing-real-estate-in-dallas-texas.html Sat, 31 Jan 2009 12:58:21 -0600
As far as the real estate projections for Dallas, they are expected to have a 67% increase in population in the next ten years. The Dallas area has also had the second largest gain in population over the past eight years, with Atlanta being number one. This is largely due to the quality and affordability of housing. Among what families enjoy about the Dallas area are the many lakes and public parks. They are great for fishing, boating, hiking and bike riding.

Don’t be fooled though. The Dallas real estate market is becoming very competitive due to the amount of Dallas foreclosures and bank owned homes currently flooding the market. You may want to purchase that home of your dreams at a great price, but there will also be investors bidding on the same property. They will utilize the home as a rental and sell it later for a profit.

Find yourself a good realtor if you are looking to purchase Dallas real estate. These experts know how to get information to you quickly and efficiently. They will provide you with Dallas real estate and mortgage resources that enable you to locate, evaluate, and process information in order to make quick and informed decisions. Among the talented and knowledgeable real estate agents are buyer’s agents. They are realtors who represent and protect your interests throughout the home buying process. These services are almost always paid by the seller of the home being sold, which allows you to receive free representation on both pre-owned and new construction homes.

The home buying process has never been easier and the market is ripe. If you have ever considered purchasing real estate in Dallas, take a closer look now. You can look from the comfort of your own home. Once you’ve determined what you want, get in touch with a realtor to make your dream a reality.

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Coleen Donovan is a full time professional Dallas Realtor specializing in Dallas foreclosures and Dallas real estate.

Source: http://www.articletrader.com ]]> http://www.articletrader.com/finance/real-estate/finding-affordable-housing-options-in-tampa.html http://www.articletrader.com/finance/real-estate/finding-affordable-housing-options-in-tampa.html Thu, 06 Nov 2008 00:00:00 -0600
1. Calculate the total cost. Home ownership can be expensive and affordable homes aren’t always the oldest or lowest priced homes. Maintenance, repairs and high insurance premiums can often increase the total cost of home ownership so it is important to compare the total cost of a new home in good condition versus an older home in need of expensive repairs.

2. Shop for low interest loans. Tampa home buyers are still able to obtain very favorable low interest rates especially if they take time to shop around. One of the best ways to lower your overall monthly payments is to get a better interest rate; for example, a $200,000 home financed at 6.5 fixed rate for 30 years would be $1,264 per month while the same home financed at 8.5 percent fixed for 30 years would cost $1,538 monthly.

3. Look for a longer loan period. When purchasing a home in Tampa, most people typically finance for 15 or 30 years however, it is possible to select many other repayment options. For example, 20, 25, 33, 35 and even 40 year repayment options are possible. Just keep in mind the longer the payment period the more interest is paid over the life of the loan. However, many first time home buyers would benefit from buying a low cost foreclosure or other home with low interest rates and a longer repayment period that allows them the flexibility of making small payments now then increasing their pay-back amount as they finish college or other life events take place.

4. Variable rates or hybrid loans. Although these have received a great deal of negative publicity in recent months, there are times when variable rate or other hybrid loans can be a great tool for buyers. Be sure you understand the full terms of the loan before buying.

5. Search for assistance. Many home buyers qualify for first-time homebuyer assistance programs, help with closing costs, special finance programs and other incentives that can help reduce the cost of buying a home. You never know unless you ask!

6. Find foreclosures. Without a doubt, one of the most affordable options in the Tampa area include foreclosure sales. Many of these are newer homes in convenient locations that require little to no maintenance or upgrades. Sign-up for a list of foreclosures in areas of interest throughout the Tampa area and find out how easy it is to buy an affordable, new home with instant equity.



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Lance Mohr is a full time professional Realtor in Tampa, Florida. Please view our New Tampa real estate and Dallas real estate websites.

Source: http://www.articletrader.com ]]> http://www.articletrader.com/home-and-family/whats-hot-and-whats-not-in-tampa-real-estate.html http://www.articletrader.com/home-and-family/whats-hot-and-whats-not-in-tampa-real-estate.html Sun, 02 Nov 2008 00:00:00 -0500
What’s Hot

Personal Spa’s & Big Bathrooms. As the economy tightens, people are spending less on spa treatment but still seeking stress relief. The solution is to create a personal retreat right in your very own home. Big bathrooms with personal spa accessories are in high demand but forget unsanitary water jets, today’s big soaking tubs use sanitary bubble jets combined with chroma-therapy for an unforgettable experience. Comfort toilets, LED lighting, towel warmers and dry saunas are also high demand luxuries that feel like a million but don’t necessarily cost a lot.

Eco-Friendly Yards. Fruit trees are back big-time as are low maintenance lawns. Xeriscaping with native shrubs and trees reduces water requirements and pesticides, fertilizers and other harmful chemicals. Large trees that help shade the house in summer (and reduce electric bills) are also in high demand…with the added benefit of making great natural compost. Outdoor sanctuaries that combine easy to maintain gardens with fire-pits, water and entertaining areas are rapidly displacing show-piece lawns.

Green Building Supplies. Tampa real estate has the advantage of year round wonderful weather so avoid toxic chemicals and expensive carpet replacement by purchasing bamboo wood flooring or ceramic tile instead. Low cost, incredibly easy to maintain and much easier on your health today’s green building materials are as beautiful as they are sustainable. Other popular supplies include non-toxic paint, low EMF lighting solutions and natural insulation.

What’s Not

Lawns. Pesticide, fertilizer, expensive water bills, costly lawn maintenance or machinery, pollution, noisy blowers and more are making lawns a thing of the past. As the nation turns toward environmentally friendly products, fewer people than ever are interested in pushing lawn mower or edger that causes 4 to 10 times the air pollution as an average family car! Blowers are a major source of noise pollution and also contribute to poor air quality. Pesticides, fertilizers and high water bills are not only bad for your health but terrible for the environment. Worst of all…homeowners are fed up with spending all their free time slaving to high maintenance lawns.

Carpet. More people than ever are switching to tile, wood, bamboo or other sustainable flooring solutions. Not only are they easier to maintain and durable but cost less in the long run since there is no need to replace every few years. Best of all, it is a fast way to improve the air quality in your home.

Incandescent Lighting. Even relatively newer homes may have been built with incandescent lighting fixtures – including recessing lighting. Not only are newer florescent and LED lighting alternatives more energy efficient but the bulbs last longer and look great.



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Lance Mohr is a full time professional Tampa Realtor specializing in Tampa bank owned homes and Tampa real estate.

Source: http://www.articletrader.com ]]> http://www.articletrader.com/finance/existing-home-sales-are-up-is-this-the-bottom.html http://www.articletrader.com/finance/existing-home-sales-are-up-is-this-the-bottom.html Thu, 30 Oct 2008 00:00:00 -0500
So, does this mean the worst is over? Maybe – but probably not. Although sales were up – prices were down as median sales prices fell an average of 9 percent in the past year nationwide but dropped 22 percent in Florida to a median price of $175,100….not counting foreclosed home sold at auction which were not part of the data. Further complicating the situation is the general financial crisis that worsened during the month of October; bank mergers, bankruptcies and the general uncertainty surrounding the economic melt-down is likely to impact real estate numbers for October if not the remainder of the year.

Other disturbing trends such a resetting adjustable rate mortgages are still not complete in many of the same areas most impacted by the downturn. As ARM’s begin to reset, an entire new wave of defaults and foreclosures could be in the works during a period when banks are less willing to refinance. Congress is actively discussing methods to guarantee or work with mortgage companies to refinance these loans to prevent further foreclosures but to date, little consensus has been reached.

There is currently a 9+ month supply of inventory with some homes in much higher demand than others and with tightening credit standards, economists are unsure what the 4th quarter will look like in the real estate market. Cautious optimism seems to be warranted as sales are expected to continue increasing even as prices stabilize. Unfortunately, rising interest rates are likely to offset further price reductions resulting for little incentive for buyers to wait before buying.

To recap; buyers searching for Tampa foreclosures may find rising interest rates likely to offset potential price reductions. Homes are selling and prices for the local Tampa Bay and surrounding areas are at their lowest in years:

• Tampa: The median price of Tampa homes has dropped from over $200,000 last year (and over $220,000 prior to that) to $160,500 last month. Median condo prices in the Tampa area have fallen to $139,100.

• Fort Myers, Lakeland & Winter Haven: Median home prices have fallen to approx $140,000

• Sarasota-Bradenton: Median home prices are down 29 percent to $200,000.



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Lance Mohr is a full time professional Tampa Realtor specializing in New Tampa homes for sale and Tampa real estate.

Source: http://www.articletrader.com ]]> http://www.articletrader.com/finance/real-estate/top-ways-to-automate-your-tampa-home-search.html http://www.articletrader.com/finance/real-estate/top-ways-to-automate-your-tampa-home-search.html Mon, 27 Oct 2008 00:00:00 -0500
1. Visit Tampa2Enjoy.com and sign-up for email notification of homes in the area and price range you are searching for – including specialized types of real estate like waterfront condos or foreclosures.

2. Take a Virtual Tour. Most homes have photos available for viewing but why stop there? It’s easier than ever to take a virtual tour of the local surroundings using Google Maps and other free resources.

3. Request More Information. Once you identify a property you are interested in simply request more information with a simple click of the mouse or via email. Ask for comp values, school district, amenities in the immediate area, property tax values and other pertinent information.

4. Get Directions. By this point you should have narrowed your search down to just a few of the most promising properties.

5. Virtual Consulting. Thanks to the latest in technology and innovation it is easier than ever to stay connected or have a virtual consultation via the Internet. From video mail to flexible scheduling, Tampa2Enjoy is dedicated to providing unsurpassed customer service.

6. One Point of Contact. See a listing from another agent or a home listed by owner that you would like more information about? Simply jot down the MLS number or address and get the same great service, information and assistance without the need to deal with multiple agents or buyers. No spam, no hard sales pitch and no inconvenient interruptions – just the information you need when you need it.

7. Make Offers. Whether you are a first-time buyer or savvy short sale investor, work with an agent that understands what it takes to close the deal. Something as simple as missing a deadline could cost thousands of dollars over the life of the loan – or worse – result in a lost deal. Take the time to find a Tampa Realtor that gets the job done right and builds a relationship you can rely upon.

Please give us a call if your are looking New Tampa homes for sale.



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If you have any questions about New Tampa homes for sale or Tampa real estate please give me a call.

Source: http://www.articletrader.com ]]> http://www.articletrader.com/finance/real-estate/most-annoying-hidden-home-defects.html http://www.articletrader.com/finance/real-estate/most-annoying-hidden-home-defects.html Sun, 26 Oct 2008 00:00:00 -0500
Find out the REAL reason many Tampa home sellers want out of their home then use it as a negotiation tool. Remember, value is in the eye of the beholder and what bugs one buyer may not be a problem for another whatsoever.

1. Noise. If a home sits adjacent to a rail-road track then chances are you have already noticed the noise but some sources of noise pollution are much more difficult to spot; from jet planes flying overhead en route to Tampa International to a bus stop in front of the house, find out what the noise level is likely to be in the new home before making a final offer. On the other hand, if you are relocating from New York or LA then the level of noise in most Tampa neighborhoods is probably easy on the ears and might allow you to make a competitive offer on an otherwise higher priced home.

2. The Neighbors. Sometimes perfectly wonderful people just don’t see eye-to-eye. The NASCAR fan who likes to work on engines every weekend might have little in common with the elderly couple who want plenty of peace and quiet. Those little personality differences can lead to big price reductions.

3. Bad Schools. Retirees and others without children can easily save an average of ten percent or more by buying a home with less than stellar schools.

4. Homeowners Associations. The democratic nature of most HOA’s occasionally creates a situation where the majority vote for rules that conflict with the personal goals of specific condo or home owners. Finding a disgruntled owner is an easy way to find instant equity when buying your own Tampa condo or home.

5. High Utilities, Taxes and Insurance. Despite a cap on owner-occupied homes, the rising rate of taxes, insurance and other utilities can create a burden on fixed-income Tampa homeowners.

6. Size Matters. Sometimes a home simply doesn’t fit any longer; Baby Boomers without children at home increasingly find a large home is more than they need while others just getting started with a new family might need more space to fit a growing family.

We are experts in the Tampa home buying process - whether you are looking at waterfront condos or homes for sale in Tampa.


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Lance Mohr is a full time professional Realtor in Tampa, Florida. Please view our Tampa real estate and Dallas real estate websites.

Source: http://www.articletrader.com ]]> http://www.articletrader.com/finance/real-estate/inflation-and-tampa-real-estate.html http://www.articletrader.com/finance/real-estate/inflation-and-tampa-real-estate.html Thu, 23 Oct 2008 00:00:00 -0500
By 1979 things were already beginning to change. The cost of a home had nearly doubled to just under $56,000 even while interest rates crept up from 8 percent to 11 percent. Five years later homes were well into the $70,000 range and mortgage interest lingered between 13 to 15 percent. By 1990 homes were approaching the $100k level for the first time in history. Real estate would never be the same as the price increases continued to rise each and every year until 2007 at which point Tampa real estate experienced its first decline.

The decision to purchase a Tampa home, condo or other forms of real estate is one of the best methods available to build wealth during times of inflation. Just as home prices continued to rise year after year so have the cost of groceries, gasoline, healthcare and college. In fact, nearly everything seems to cost more than ever before. By now you should be asking what Tampa homes will cost in the future especially since inflation rates are rising rapidly. Here is a quick way to estimate the cost of a home in the future:

1. Determine the rate of inflation. A reliable indicator of inflation is provided by ShadowStats which tracks actual inflation based upon money supply and costs in the economy rather than the dubious new model used by the government. The official CPI is estimated to be 5.5 percent while the alternative measure indicates something closer to 9 percent.

2. Use the rule of 72. Simply divide 72 by the inflation rate (for example 9 percent). For example, 72/9 = 8. This means at the current rate of inflation Tampa real estate prices will double in 8 years.

3. Extended Time. If you want to calculate for longer periods of time then double again. For example, if you purchased a Tampa home today for 200k then held it for 24 years with a constant rate of inflation at 9 percent then the price of the home would go from 200k to 400k in the first eight years, from 400k to 800k by year 16 and from 800k to 1.6 million in 24 years. Of course, this is all an approximation and some years inflation goes up more rapidly or more slowly than other years but it does demonstrate the power of real estate to build wealth during rising rates of inflation.


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Lance Mohr is a full time professional Realtor in Tampa, Florida. Please view our Tampa real estate and Dallas real estate websites.

Source: http://www.articletrader.com ]]>