Following some legislative changes, successfully navigating a Tampa short sale has become a little easier, but is still a transaction that takes care and vigilance. A short sale — the arrangement between seller and mortgage lender that allows the seller to sell the property for less than what is owed – can be quite involved.  It requires negotiation directly with the lender, and contractual arrangements that can carry over into the future. If you are considering short selling your house, or simply want to know more about what it would entail, these are a few pointers to bear in mind:

A short sale is not always the best solution.One alternative, for instance, may simply include opening a discussion with the lender to see if a revised payment plan would…

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If you are new to what appears here, please forgive me if I seem to be nagging a bit. Sorry if this sounds like your mother’s sterner voice coming at you (that one from years ago – the one she used when you were especially absent-minded, often accompanied by a scowl). If you’re not guilty, please know this is not directed at you.

For everyone else who’s been checking in to find out about South Tampa home prices or about South Tampa real estate in general, you know I’ve been beating the drum about the unusual combination of great real estate buys and low mortgage rates. Ever since the housing crisis created a large overhang of distressed properties, there was a general reluctance to take advantage of the situation – even though in real estate, as in…

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As regular readers know, I keep track of the national media spin on real estate matters because our South Tampa home sales often reflects the tone we all pick up from the feel of the wider market. So let’s not beat around the bush: again in July 2012, the residential real estate picture continued its rise. It has been sensible to remain cautiously optimistic about the direction of things for a good long while, but at this juncture, it’s finally beginning to look like a trend has taken shape.

“For the fifth consecutive month,” the Wall Street Journal reported in its news pages, “sales of previously owned homes notched another rise.” South Tampa homeowners who have gone through literally years of sinking prices and moribund home sales must be worried as…

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Your South Tampa home is in perfect shape – all set to go on the market. You’ve enlisted an experienced real estate agent with a solid track record. Now all that’s left is…what?

What’s that next step?

In fact, the next step can be all-important: creating a South Tampa listing that does more than just describe the number of beds and baths. It has to stand out among all the competing listings that will be seen alongside it. That South Tampa listing is the keystone of the marketing campaign that will ultimately fetch a new owner: its job is to get buyers and agents to take a closer look. To get that job done, it has to be special!

When I sit down to work up an effective listing, I try to pay attention to what creative writers from other forms of…

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Bank of America encourages distressed homeowners to explore a short sale as a viable option for avoiding foreclosure. To that end, for a limited time we are offering enhanced relocation assistance to help motivate homeowners to engage with us on a pre-offer short sale.

An additional benefit for these pre-offer programs – such as the Home Affordable Foreclosure Alternatives (HAFA) and Bank of America’s proprietary program – is that deficiency may be waived for the homeowner.

Eligibility:

  • Homeownerswith property in Florida
  • Short sales initiated without an offer between September 26 and November 30
  • The customer will have to be eligible for one of the without offer programs such as the HAFA program or our proprietary program (specific…

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It may sound too good to be true, but it can be authentic: also known as a ‘Lease Option,’ the Rent-to-Own scenario is one that can help tenants clear major hurdles on their way to homeownership. It can postpone the need to satisfy newly tightened mortgage lending requirements, and eliminate the immediate need for a large down payment. For many who are temporarily in the process of climbing out of credit or cash flow problems, it sounds like a ray of light…

And if you are thinking it also sounds like a free lunch (or a clearance sale on the Brooklyn Bridge), you’re right to be skeptical. It’s always best to familiarize yourself with all possible outcomes for any major transaction — and a South Tampa rent-to-own offer definitely qualifies as one of…

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