There is some good news coming out of the National real estate market and it could affect homebuyers in the Florida housing market, too. According to The Mortgage Bankers Association, fewer borrowers are falling behind on home loans for the third straight quarter and building permits for single-family homes reached their highest level in 10 months, according to the latest statistics. This means fewer foreclosures coming on the market and this could help drive home prices back upwards.
Another positive development is the less-delinquent home loans, which have hit a 4-year low. The 30 to 60-day delinquent mortgages can be indicative of future foreclosed homes, so a slowing in this area is highly-desirable. Florida and Tampa have participated in this stabilizing marketplace, showing increases in prices and sales of single-family dwellings, while fewer foreclosures, REO and repossessed homes are flooding the market. It may be a good time to purchase a Florida home.
If you are interested in purchasing a home in Tampa, the best advice would be to contact a Realtor. They are experts in the field and have the knowledge to help homebuyers get the best deals. Sellers of existing homes will find professional service and advice helpful, when it comes to selling a home quickly and for the best market price.
Don’t be misled into thinking the U.S. real estate market has recovered, because it is still a sickly patient, but fewer foreclosed homes in popular regions, such as Florida, can be a positive prognosis. Astute bottom-feeders are snapping up the best housing deals, including foreclosures, REOs and bank-owned repossessions. Buyers working with knowledgeable and skilled real estate professionals can take advantage of significant price reductions. Tampa has great location and weather, but there are many amenities in the region, which makes it a popular location.
According to the Commerce Department, the new delinquencies numbers should continue to drop, if job growth continues, even though housing starts are still at half of the pace they should be, in a healthy economy. While single-family housing starts and permits may set record lows this year, it’s the upward trend that indicates we may be hitting the bottom of a declining real estate market, in the U.S. and in Florida.
Tampa Florida offers many area attractions and economic benefits. Purchasing a home could be a good investment for future appreciation, but it may be a sound decision for your family’s happiness, too. Tampa Realtors can help you find your dream home, whether it’s one of the great existing homes, short sale offerings or foreclosures.
Since it’s not all bad news in the U.S. real estate market, Tampa’s enjoying stabilization in house prices and sales, as are many other parts of Florida. If you’ve been procrastinating about purchasing a home because you’re waiting for the bottom to occur, you might not wait much longer to find your dream home in an amenity-filled subdivision, for your family.