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.
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