Is Florida's housing market bouncing back

U. S. economists: Fla.’s housing market bouncing back


According to Chief Economist Dr.John Tucillo Floida is in a mini-recovery. “Sales are trending up, listing inventories are falling, the supply of lender-related properties has stabilized, and we are seeing multiple offers on homes in some local markets.”In fact, Florida homes today may be undervalued, Tuccillo added. “That may seem like a drastic statement,” he said. “But a buyer who plans to own the home for five to seven years can get some great bargains today.
Working predominately with buyers, I have noticed the lack of iventory especially with bank owned homes. I have also noticed multiple offers on propeties and even noticed properties under contract the first day on the market. As the unemployment rate drops and lenders reduce lax there criteria, I believe will have more prospective buyers. I truly belive purchasing a home is still the "american dream" and many american want to own a home.
"Mark Vitner, senior economist at Wells Fargo in Charlotte, N.C., said the U.S. economy will continue to face significant challenges, particularly financial concerns related to the European debt crisis. But he expects the U.S. economic recovery will continue next year, making it easier for Midwesterners, for example, to buy Florida homes.“Florida’s economy is recovering, with tourism and healthcare leading the way,” Vitner said. “International tourism has been particularly strong in Miami and Orlando.”Looking around the state, Vitner said Jacksonville’s unemployment rate has dropped and home prices are stabilizing. In Orlando, prices have not yet reached bottom, he said, but the winter tourism season should help the regional economy. Tampa and Southwest Florida have seen solid job growth, with little new home construction. South Florida’s economy is growing thanks to trade relationships with Latin America and the Caribbean, while in the Panhandle, Fort Walton Beach is outperforming Panama City and Pensacola, according to Vitner.Dr. Lawrence Yun, chief economist for the National Association of Realtors®, said many Florida markets are showing sharp drops in inventories of homes for sale – a sign that demand is picking up and prices are stabilizing. “That’s a major change from just a year ago,” he said. “Buyers have stepped back into the Florida market.”Noting the state’s powerful appeal to international buyers, Yun said he was particularly optimistic about the outlook for South Florida. “Don’t be surprised to see a gain in home prices in the Miami and Naples markets in the next 18 months,” he said. “From there, the recovery is likely to roll northward to Central Florida and then North Florida.”Tuccillo noted that foreclosed and distressed properties will remain a significant part of the Florida market in 2012, but lenders are feeding these properties into the market at a gradual pace rather than pushing them out all at once.

Ainsley Daux
Lic FL. Realtor
FLorida Realty
(813)546-1954

Bank of America Extends Relocation Assitance

The Florida Enhanced Short Sale Relocation Assistance Program has been extended to Dec. 12, 2011.
This program offers enhanced relocation assistance to help encourage homeowners to engage with Bank of America on a pre-offer short sale. Homeowners may be eligible for relocation assistance between $5,000 and $20,000.*
Eligibility:

Homeowners with property in Florida
*Short sales initiated without an offer between Sept. 26 and Dec. 12, 2011
*The customer will have to be eligible for one of the without an offer programs, such as the *Home Affordable Foreclosure Alternatives (HAFA) program or Bank of America's proprietary program (specific investor participation and eligibility criteria do apply to these programs)
*Successful closing of the eligible short sale by Aug. 31, 2012

For mor information Please contact:

Ainsley Daux
Lic Realtor
Florida Realty
(813)546-1954

The Key Elements to sucessful Short Sale

What are the key elements to a succesful short sale. If you are the listing agent, the most important thing is a cooperative seller. Cooperative seller in terms of a seller who submitts the required documents at the listing appointment and when a contract has been received. Since time is of essence when a contract has been submitted, it is imperative that the seller submitt the documents to the listing agent within 48 hrs. At the short sale listing appointment, I provide the seller a list of items that is required inorder to process the short sale. The list below are documents that are required from the lender.





1.lenders short sale package,


2.the contract


3. HUD


,4.the lising agreement


5.Hardship letter


6.last 2 paystubs (if employed),


7.last 2 bank statments,


8.last 2 years w-2's,


9.T4506 form


10.A copy of the MLS listing


11.Buyers proof of funds

For more information regarding short sales.
Please call or email.
Thank you,

Ainsley Daux
Lic Realtor
Florida Realty
(813)546-1954

JUST SOLD (Tampa Bay)

Just sold this well kept 2 bedroom 1 bathroom, washer-dryer hook up condo located in north east Tampa.

Ainsley Daux

Lic Realtor

Floirda Realty

(813)546-1954

New Tampa Bay Short Sale

This is a new short sale listing in Tampa Bay. This home boast 3 bedrooms, 2 bathrooms and a garage. This Tampa Bay short sale listing is located near Busch Gardens and USF.

Ainsley Daux

Lic Realty

Florida Realty

(813)546-1954

"Im Back" Tampa Bay Short Sales

Wow.! Its been a while since I posted a comment on this blog, 5 months to be exact. No particular reason why I stopped posting comments, but "IMM BACK". The market has changed drastically in the last 5 months. It appears there is a shortage of REO or bank owned properties, there are more short sales. Good thing for the market and buyers, there are a few lenders expediting the short sale process smoothly. I have also notice there alot more cash buyers due to lenders resrition on borrowing money. Many experts believe that we should expect some gradual improvments in 2012.

According to Lawrence Yun, chief economist of the National Association of Realtors (NAR), said home sales should be stronger. “Tight mortgage credit conditions have been holding back homebuyers all year, and consumer confidence has been shaky recently,” he said. “Nonetheless, there is a sizeable pent-up demand based on population growth, employment levels and a doubling-up phenomenon that can’t continue indefinitely. This demand could quickly stimulate the market when conditions improve.”As 2011 comes to end, many of us are preparing ourselves for the up coming year. Some renters are hoping to become h omeowners and unfortunatley some home owner may become renters which is not all bad. If you short sale your home and continue to pay other open credit lines on time and avoid pulling have your credit pulled; there is a good possibility you maybe eligible to purcahse another home in 2 years. My next post will go over different ways to improve your credit. Stay tuned
Thank you,

Ainsley Daux
Lic Realtor
Florida Realty
(813)546-1954

Just Sold

I did it again. I provided my real estate expertise to assist this great family to buy a beautiful home in Wesley Chapel. The home was a foreclosed undervalued beauty. The home boast 3 bedrooms 2 bathroom and 2 car gargage built in 2006.

Ainsley Daux

RealtorHome

Run Real Estate inc

cell:(813)546-1954

fax:(866)820-1028

www.homerunrealestate.com

ainsleydaux.point2agent.com