Tampa to receive recovery act grant money

Tampa is one of the cities who will benefit from the Recovery act under HUD’s Neighborhood Stabilization Program. Tampa will receive $38 million according to HUD’s website. The money is meant to spur economic development and create jobs. There are 60 other cities receiving grant.

For more information go here

HUD temporarily lifts 90 say seasoning rule for fha loans

In order for a buyer to obtain financing Fha currently has a 90 wait period to purchase a home from a new seller, so this would apply mostly in cases when buying a home from an investor looking to flip a property. A buyer would have to wait 90 days after the home was purchased.

Hud has temporarily lifted this rule to help stabilize the market and help FHA borrowers from being shut out on homes being flipped.

The waiver will take effect on February 1, 2010 and will be effective for one year

To read more about the new waiver go here

So what are your thoughts? Do you think the new lift will help homes sell quicker in heavily flooded foreclosure areas?

Tampa 2010 Real Estate Forecast

Ok as we begin a new year many buyers still are looking into the crystal ball to try and find out if this is a good time to buy in the Tampa Real Estate market. Well me being in Real Estate and what I do for a living of course I am going to tell you it is a great time to buy, it certainly is not a sellers market, but what you should do is look at the facts and market conditions.

Is housing affordable? Yes When I say affordable I mean can you buy a comparable home and have a lower or equal payment in comparison to renting.
Are interest rates still low? Yes
Is the absorption rate down? Yes
Do you have a stable job? This is the key to whether it is a good time for you to buy. If you are secured in your employment and can afford it does make sense to buy in this market especially if you are a first time buyer.

Investment Opportunities
What you are now seeing is investment opportunities for new real estate investors but unlike what caused the Real Estate bubble due to speculation the new investors are buying with cash and not borrowing with that easy money the banks were so willing to give out. The affordability of buying real estate with a high capitalization rate is spawning more and more cash investors.

First Time Buyer Program
With the extension of the first time buyer credit many first time buyers are going to take advantage of the government incentive program and receiving the $8,000 tax credit. The program also offers an incentive to move up buyers who have lived in their current home for five years or longer. For more information to see if you qualify for the tax credit

Will Tampa foreclosures still dominate the market? Yes as a matter of fact I am sure a majority of the homes for sale in Tampa this year will either be short sales or foreclosures.

If you are ready to buy in 2010 we would love the opportunity to help you in your new purchase and you can begin searching Tampa Homes For Sale today , if you are not ready yet we hope you continue to come back to our website to check market conditions as we will be consistently updating it throughout the year.

Wishing everyone a happy, healty, and prosperous new year in 2010.

Guest Real Estate Bloggers Wanted

I am currently looking for quality Real Estate professionals who are interested in writing gust blog posts on my Real Estate blogs. You can be an out of town Realtor, mortgage professional, home inspector, title agent, pretty much anything related to the Real Estate industry.

In turn the reward you will get is up to three backlinks within the post you write pointing to your websites, backlinks if you didn’t already know will help benefit your website in regards to seo as well as gain traffic from the post itself.

All I ask is the post be original content not a cut and paste job, also the post must not be local to your area it has to be able to benefit my readers as well.

I look forward to hearing from you and if you have any questions or would like to volunteer to write a guest blog article please fill out the contact form below.

NAR launches new website to promote benefits of home ownership

The National Association Realtors have just launched a new website http://housingmarketfacts.com/

The site provides facts about homeownership and benefits of owning a home.

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