It is no surprise that a large portion of the population is still under water on their mortgage. That doesn't stop the fact that things happen in life and you may need or want to move to a different home. So that begs the question. How long after I short sell my home can I get a mortgage for a new home?
The answer isn't so cut and dry and depends on a couple factors.
1. If you are current on your payments with your current mortgage, you can short sell your home (given your banks approval) and can immediately qualify for a new FHA loan.
2. If you are not current on your payments, The FHA has recently relaxed restrictions, but you still must wait 2 years from the short sale to qualify for the new loan. If you can show certain other economic hardship variables such as a decline in household income by 20%, but have otherwise kept up to date with credit payments in 12 months time you can be eligible through the FHA's "Back to Work" program.
All is not lost when it comes to an underwater home. A short sale is certainly better than foreclosure or bankruptcy for all parties involved.
Friday, December 27, 2013
Thursday, October 24, 2013
Cheval Market Report Quarter 3 2013
In the quarter ending September 2013, there were 22 homes sold in Cheval. Of the homes that were sold the average sales price was $592,030 with prices ranging from $229,900 to $1,345,000. It took on average 107 days from listing to closing table to sell those homes.
As of this post there are 14 homes for sale in the Cheval community with an average price per square foot of $161.
Homes for sale in Cheval.
Need help buying or selling a home in Cheval? Contact me at Mike Galovic Homes. Also take a look at my buyer and seller resources available to take a step in the right direction.
As of this post there are 14 homes for sale in the Cheval community with an average price per square foot of $161.
Homes for sale in Cheval.
Need help buying or selling a home in Cheval? Contact me at Mike Galovic Homes. Also take a look at my buyer and seller resources available to take a step in the right direction.
Country Place Market Report Quarter 3, 2013
From July 1st to October 1st of 2013 there were 16 homes sold in the Country Place subdivision. The 16 homes sold with a range from $128,000 to $204,900 and an average home sales price of $166,745. On average the homes took 88 days to sell from the listing date to the closing table.
As of this posting there are 10 properties for sale in Country Place with an average price per square foot of $114.
Homes for sale in Country Place
Need help buying or selling a home in Country Place? Contact me at Mike Galovic Homes. You can also check out my buyer and seller resources to take a step in the right direction.
As of this posting there are 10 properties for sale in Country Place with an average price per square foot of $114.
Homes for sale in Country Place
Need help buying or selling a home in Country Place? Contact me at Mike Galovic Homes. You can also check out my buyer and seller resources to take a step in the right direction.
Amazon To Build Fulfillment Center in Tampa and Lakeland
Amazon confirmed on Tuesday that they will open two fulfillment centers in central Florida. Located in Tampa and Lakeland, the two fulfillment centers will be close to each other but will serve different needs. The Lakeland center will handle the larger items that Amazon carries like TV's and furniture, and the Tampa location will handle smaller goods.
Amazon was swayed to bring the warehouses to the area by multimillion dollar incentive deals from both Hillsborough and Polk Counties. However the centers will bring their own stimulus by bringing an expected 1,000+ new jobs to the area.
“We appreciate the state, city and county officials who have worked with us to bring these fulfillment centers to Florida,” said Mike Roth, Amazon’s vice president of North America operations. “We’re excited to join the community, bringing great jobs and investment to the area.”
Source: Jacksonville Business Journal
Amazon was swayed to bring the warehouses to the area by multimillion dollar incentive deals from both Hillsborough and Polk Counties. However the centers will bring their own stimulus by bringing an expected 1,000+ new jobs to the area.
“We appreciate the state, city and county officials who have worked with us to bring these fulfillment centers to Florida,” said Mike Roth, Amazon’s vice president of North America operations. “We’re excited to join the community, bringing great jobs and investment to the area.”
Source: Jacksonville Business Journal
Wednesday, October 23, 2013
Rezoning Effort to Add More Homes in Channing Park
The developers of Channing Park, a new subdivision near the intersection of Boyette and Dorman Rd in Lithia, has submitted a request to change the zoning restrictions in place for the community.
Current zoning restricts the developer to one homesite per acre. The request would have this changed to 2 homesites per acre, increasing the amount of allowable homes by 146. The developer's attorney stated that the homesites would be clustered and would allow for more open area to reduce what the planning department considers "urban sprawl."
With the zoning hearing set for December 16th, 2013, residents living within 300 feet of the development and HOA's established within 1 mile will get notification of the hearing by November 15th.
"I don't know of any significant issues at this time," said Michelle Heinrich, a Hillsborough County Planner.
Clayton Bricklemyer, an attourney representing the developer, stated that he was not aware of any wetlands or environmental impacts on the property and the developer will be fully complying with the wetlands rules.
Source: Tampa Tribune
Current zoning restricts the developer to one homesite per acre. The request would have this changed to 2 homesites per acre, increasing the amount of allowable homes by 146. The developer's attorney stated that the homesites would be clustered and would allow for more open area to reduce what the planning department considers "urban sprawl."
With the zoning hearing set for December 16th, 2013, residents living within 300 feet of the development and HOA's established within 1 mile will get notification of the hearing by November 15th.
"I don't know of any significant issues at this time," said Michelle Heinrich, a Hillsborough County Planner.
Clayton Bricklemyer, an attourney representing the developer, stated that he was not aware of any wetlands or environmental impacts on the property and the developer will be fully complying with the wetlands rules.
Source: Tampa Tribune
Northdale Market Report Quarter 3, 2013
There were 32 homes sold in the Northdale subdivision during the months of July through September. Of those 32 homes, sales prices ranged from $75,000 to $275,000 with the average home sales price being $184,776. On average it took 65 days to sell the properties in Northdale, from listing date to the closing table.
As of this posting there are 19 homes for sale in the Northdale community with an average price per square foot of $109.
Properties for sale in Northdale.
Need help buying or selling a home in Northdale? Contact me at Mike Galovic Homes. You can also take a look at my buyer and seller resources to take a step in the right direction.
As of this posting there are 19 homes for sale in the Northdale community with an average price per square foot of $109.
Properties for sale in Northdale.
Need help buying or selling a home in Northdale? Contact me at Mike Galovic Homes. You can also take a look at my buyer and seller resources to take a step in the right direction.
Carrollwood Village Market Report: Quarter 3, 2013
18 homes were sold in the Carrollwood Village subdivision from July 1st to October 1st, 2013. The average sales price was $227,731 with properties ranging from $108,000 to $490,000. Of the 18 properties sold just over half those transactions were cash sales with the remainder being new conventional mortgages. As of this post there are currently 16 homes for sale in Carrollwood Village with an average price per square foot of $126.
Homes for sale in Carrollwood Village
Looking for help with buying or selling a home in Carrollwood Village. Contact me at Mike Galovic Homes and check out the Buyer and Seller Resources to take a step in the right direction.
Homes for sale in Carrollwood Village
Looking for help with buying or selling a home in Carrollwood Village. Contact me at Mike Galovic Homes and check out the Buyer and Seller Resources to take a step in the right direction.
Haunted Real Estate
SAN JOSE, Calif. – Oct. 22, 2013 – Realtor.com – The National Association of Realtors®’ (NAR) consumer-facing website operated by Move Inc. – released the results of its Haunted Housing Report that explored consumer sentiments about their perceptions of “haunted” real estate.
“Survey data reveals that while the majority of consumers are open to purchasing a haunted home, many buyers conduct their own research on a home’s history to be aware of any weird incidences,” says Alison Schwartz, VP of corporate communications for Move. “Data also finds that while some respondents are willing to purchase a haunted home at a discounted price, many say levitating objects, ghost sightings and seeing objects move from one place to another would deter them from purchasing a home.”
Attitudes
• 26 percent of survey respondents would consider purchasing a haunted house
• 36 percent might consider a haunted house
• 38 percent would not consider a haunted house
Experiences
• 51 percent of respondents heard about someone else’s haunted home experience
• 35 percent of respondents lived in a home they suspected to be haunted
• 25 percent have researched a home’s history to find out any eerie past incidents
Popular haunted house warning signs
• 61 percent: a cemetery on the property
• 50 percent: homes over 100 years old
• 45 percent: quick turnover of ownership
• 45 percent: an unexplainable low price on the home
• 43 percent: homes in close proximity to a battlefield
Expectations
Many respondents that would consider a haunted home indicated that they expected a discounted price:
• 12 percent would pay full market value or over
• 34 percent would purchase if discounted 1 to 30 percent
• 22 percent would purchase if discounted 31 to 50 percent
• 19 percent would want a discount of 51 percent or more
Deal breakers
Even survey respondents willing to buy a haunted house had reservations, and certain events would make them reconsider:
• 75 percent would be scared off by levitating objects
• 63 percent objects that moved from where they were placed
• 63 percent by ghost sightings
• 61 percent by supernatural sensations
• 61 percent by flickering lights/appliances
• 60 percent by strange noises (footsteps, doors slamming)
• 34 percent by warm or cold spots
Source: Florida Association of Realtors
“Survey data reveals that while the majority of consumers are open to purchasing a haunted home, many buyers conduct their own research on a home’s history to be aware of any weird incidences,” says Alison Schwartz, VP of corporate communications for Move. “Data also finds that while some respondents are willing to purchase a haunted home at a discounted price, many say levitating objects, ghost sightings and seeing objects move from one place to another would deter them from purchasing a home.”
Attitudes
• 26 percent of survey respondents would consider purchasing a haunted house
• 36 percent might consider a haunted house
• 38 percent would not consider a haunted house
Experiences
• 51 percent of respondents heard about someone else’s haunted home experience
• 35 percent of respondents lived in a home they suspected to be haunted
• 25 percent have researched a home’s history to find out any eerie past incidents
Popular haunted house warning signs
• 61 percent: a cemetery on the property
• 50 percent: homes over 100 years old
• 45 percent: quick turnover of ownership
• 45 percent: an unexplainable low price on the home
• 43 percent: homes in close proximity to a battlefield
Expectations
Many respondents that would consider a haunted home indicated that they expected a discounted price:
• 12 percent would pay full market value or over
• 34 percent would purchase if discounted 1 to 30 percent
• 22 percent would purchase if discounted 31 to 50 percent
• 19 percent would want a discount of 51 percent or more
Deal breakers
Even survey respondents willing to buy a haunted house had reservations, and certain events would make them reconsider:
• 75 percent would be scared off by levitating objects
• 63 percent objects that moved from where they were placed
• 63 percent by ghost sightings
• 61 percent by supernatural sensations
• 61 percent by flickering lights/appliances
• 60 percent by strange noises (footsteps, doors slamming)
• 34 percent by warm or cold spots
Source: Florida Association of Realtors
Help for Homeowners
Tampa group holds workshop for struggling homeowners
The Tampa Bay Community Development Corp who holds workshops to help first time homebuyers with the daunting task of buying their first home, has planned a workshop this weekend to assist homeowners that are struggling with their mortgages. The workshop will be held this Saturday 10/26 from 1pm to 5pm at the Pinellas Park Library.
Housing and Urban Development approved experts will be available to help prepare applications for support and to submit them directly to mortgage companies. Interested applicants are asked to bring a request for mortgage assistance form; IRS form 4506T-EZ, or tax returns for the past two years; monthly mortgage statements; information about other mortgages on the home; evidence of alimony, child support or other income; two most recent pay stubs for all members of the household who contribute to paying the mortgage; and the most recent quarterly profit and loss statement if the applicant is self employed.
If you are interested in an appointment, Tampa Bay Community Development Corp is asking you to call 727-446-6222.
Tuesday, October 22, 2013
2740 Devonoak Blvd, Land O Lakes, FL 34638
Elegant Land O Lakes Villa
Like new villa for sale in Land O Lakes, Florida 34638
$229,900
This fabulously upgraded, Southern Crafted Homes - Ascot model villa welcomes you home with a stone accented facade and 2 car garage. As you walk in you are greeted by the rich colors of the staggered cabinetry and the granite countertops of the stainless steel appointed kitchen. Including a gas oven and cooktop. The Great Room lies on the other side of a convenient granite bar top that makes entertaining effortless. The split floor plan houses the Owner's Suite on the far side of the Great Room, you will notice the tall tray ceilings, his and hers walk-in closets and picturesque view of the pond. The master bath sports granite countertops, jack and jill sinks, custom cabinetry and a walk in shower with dual showerheads! Through the french doors you open up onto the covered back patio that boasts a fantastic view of your large fenced yard overlooking the pond where you can greet each day watching the sun ruse or spend the afternoons shaded from the sun. This gated community is near shopping, schools and more. Only 20 minutes into the heart of Tampa. Or spend your day lounging in the community pool that lies directly across the street.
Contact Michael Galovic for more information
Food Around Town: Carmel Cafe
Today was a slow news day when it comes to real estate and I was thinking about what other things I like that I could share with my readers and they would enjoy reading. Then the obvious hit me: Food! I could write reviews for local eateries and food events. That fits in the realm of real estate and the Tampa Bay community right? Of course it does. So without further ado I give you my review of Carmel Cafe on Dale Mabry Hwy in Carrollwood.
Went here on a Tuesday night with the girlfriend after a couple Urban Spoon rolls. Pro-Tip: park in the rear of the building, parking can be a bit hectic in the front even on a Tuesday.
After we were seated the waitress gave us an overview on the iPad ordering system. She explained that the meals come out quick so order each course separately. We went with Nana's Goat Cheese to start, was pretty good, but as I have never had goat cheese before I have nothing to compare it to. True to our waitresses comments, it came out really quick.
For the main course I ordered the mod med chicken, and my gf ordered the steak frites. We were both pleased with our choices they were both well flavored, and filling without feeling overly heavy! Through my gf's protests I ordered the chocolate lava cake and cannoli for desert which was a nice top off for the dinner.
At the end of the meal we were able to pay our bill through the iPad and have the receipt emailed to me. Overall the place has a nice atmosphere, not overly noisy, the food was reasonably priced and well flavored and the wait staff was very attentive. The ease of ordering and paying was a nice touch that I'm surprised hasn't been adopted by other restaurants.
Over all I rate the experience with 4/5 stars!
Went here on a Tuesday night with the girlfriend after a couple Urban Spoon rolls. Pro-Tip: park in the rear of the building, parking can be a bit hectic in the front even on a Tuesday.
After we were seated the waitress gave us an overview on the iPad ordering system. She explained that the meals come out quick so order each course separately. We went with Nana's Goat Cheese to start, was pretty good, but as I have never had goat cheese before I have nothing to compare it to. True to our waitresses comments, it came out really quick.
For the main course I ordered the mod med chicken, and my gf ordered the steak frites. We were both pleased with our choices they were both well flavored, and filling without feeling overly heavy! Through my gf's protests I ordered the chocolate lava cake and cannoli for desert which was a nice top off for the dinner.
At the end of the meal we were able to pay our bill through the iPad and have the receipt emailed to me. Overall the place has a nice atmosphere, not overly noisy, the food was reasonably priced and well flavored and the wait staff was very attentive. The ease of ordering and paying was a nice touch that I'm surprised hasn't been adopted by other restaurants.
Over all I rate the experience with 4/5 stars!
Monday, October 21, 2013
New Tampa Homes | Bassett Creek
Basset Creek in K-Bar Ranch is located just off of Cross Creek Boulevard and Kinnan Street and only a hop skip and jump from I-75. The community boasts a cabana, pool, community parks, walking trails and open playing fields. Elegant luxury homes from three of the areas top builders, Mobley, M/I, and Meritage dot the conservation landscape and provide a secluded, natural setting in the heart of New Tampa, 33647. Homes for sale in Land O Lakes: Click Here
Looking to sell a home in Land O Lakes? Contact me today to set up an appointment. I have the tools knowledge and experience to sell your home quickly for more money Michael Galovic Homes.
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