Understanding market value as a buyer

Here is a scenario let me know which buyer got the better deal.

Buyer A
List Price $175,000
Price paid $177,000

Buyer B

List Price $175,000
Price Paid $160,000

On the surface it looks like Buyer B got a fabulous deal right? Wrong the market value of home B was $155,000. While the market value for Buyer A’s home was $185,000. There is one fact missing here in this scenario that as a buyer you must know and that is what the market value of the home is.

So what is market value? Market value is the most likely price a home will sell in the open market. To determine market value real estate agents look at similar homes that have sold in the neighborhood. Every home listed on the market is determined by sellers at what price they feel it is worth. Some sellers get it right and price according to the market value. Other sellers over value their home and don’t list their home even close to the market price. So as a buyer it is important not to correlate a great deal by what the seller’s list price but what the market value of the home is.

So if you are are looking to buy a home in Tampa it is important to work with a buyer’s agent who knows the local market and can provide you with a homes true market value.

Hillsborough County Homestead Exemption

The Hillsborough county homestead exemption allows for a $50,000 reduction from your assessed property value. So if your homes assessed value is $150,000 you will only be taxed on $100,000, the additional $25,000 does not apply to school taxes. To qualify for homestead exemption you have to be a primary owner with resident status in Hillsborough county. In addition to the $50,000 exemption owners assessed value can not go up more than 3% per year which is known as save our homes. For a detail explanation of the Hillsborough County homestead exemption here.

Grants for first time real estate buyers in Tampa Florida

Guest article written by Diana Perkins

Are you thinking of buying a real estate property in Tampa Florida? Before purchasing a home you must be in need of financing the amount needed to purchase the house from a professional lender. Buying your first home can be a marvelous experience but you need to consult a real estate expert in order to make the best choice that will suit your needs as well as your affordability. There are lots of mistakes that most people commit while buying their first home. Taking out a home loan beyond your affordability may lead to financial disaster as you may run the risk of losing your dream home to foreclosure. You can always go in for home loan modification to retain your ownership rights but it’s always better to be safe than sorry.

The state of Florida provides free grants to residents who are buying their first home and need financial assistance for arranging the down payment and the closing costs. The state government provides this money. The amount of grant can be thousands of dollars. If you educate yourself on the first time homebuyer grants provided by the state of Florida, it will be in your best interest. Read on to know about them.

If you are residing in Tampa Florida, you must be aware of the Florida Housing and Community Development which is the only agency in Florida that provides financial assistance to first time real estate buyers in Tampa. There are different kinds of grants that vary from program to program and also depend on your income. For a first time home buyer in Tampa, it is very important to write the perfect grant application for receiving the grant. Without an application to the state government, it is quite impossible to qualify for such government grants in Tampa Florida.

Besides the state funded grants, some federal grants are also available to first time real estate buyers through the Homes and Communities program under the Department of Housing and Urban Development. Every potential home buyer should inquire about the grants that they can be offered to ease out their process of buying a real estate property. If they are a resident of Tampa, where such grants are given to home buyers buying their first home, they should spend more time investigating how many free grants they may qualify for.

All borrowers who receive first time homebuyer’s financial assistance in Florida are required to go through a Homebuyer Counseling Course. Through this counseling you may go through vital information on effective money management and savings plan. The Florida Housing believes that this counseling session will help homebuyers take informed and measured home buying decisions so that they do not have to go in for a home loan modification later, not being able to pay off their home loan.

Tampa Market Update January 2010

The Hillsborough County currently has *9644 active homes listed as of January 18th 2010 from data pulled from the MFRMLS Below is a breakdown of the Short Sale, Foreclosures, Owner occupied homes for sale in Hillsborough County.

  • Short Sales  3380 properties
  • Foreclosures 364 properties
  • Owner Occupied  5524

There are currently 811 properties pending (under contract) Please check back at the end of the month for the sold homes report for January 2010

If you are in the market to buy in Tampa check out our Tampa Homes For Sale

Need to Rent your home out check out our Tampa Property Management Services

* All information provided is believed to be true but should be verified.
Price ranges are from current active listings as of January 18th 2010

Westchase Tour of Homes Event

The community of Westchase is holding a special event to draw in prospective buyers, Realtors and businesses to come and view the beautiful community of Westchase and view the current Tampa inventory homes available to buy. They are even given away prizes to potental future homeowners. Don’t miss this event it is being held on Sunday May 17th 2009. You can also find event information on twitter @wtoh and their website at http://www.eventsfl.com/

We answer our phone

Today as a buyer you have many options when it comes to working with a buyers agent but not quite as many as you did before. With the slowing of the real estate market many real estate agents are now longer in the business or many are working full time jobs and doing real estate on a part time basis. Part time agents really do a disservice to you as a buyer or a seller, We have seen an increase in poor Realtor service in dealing with agents who don’t answer the phone, or won’t return your call in a timely fashion, this just makes the whole real estate industry look bad. We actually have had clients call and be surprised we answered our phone because they have tried to call several other agents only to never get a return call back.

It only makes sense to know a part time Realtor will not be able to give you the attention you require as a buyer, will have to work around their schedule and  not be up to speed in the local real estate market. All the things a good full time real estate agent can provide you with, not to say all part time agents are bad just not able to give the full commitment to you.

We promise to respond to your needs, answer the phone even on the weekends when it’s most likely you are available, and if for some reason we don’t answer the phone we will return your call in a timely fashion. We are a full time real estate team dedicated to you and will do our best to make your real estate transaction a smooth one.

Please contact us 1-888-506-1907

Tampa Mls Search

Search for homes online can be a hassle on some websites. We have tried to make our site easy to navigate and make it easy to find what you are looking for. If you are looking for homes in a certain price range in Tampa or surrounding hillsborough areas or looking in a particular subdivision our Tampa Mls Page will help you with that. Below are some price ranges you can browse by.

Woman home buyers

I have noticed that most of our register users on our websites are woman. We all know when it comes to families purchasing a home who is really buying it is the woman. Also more and more single woman are buying homes than ever. I think we need to make our sites and blogs geared to what woman want since woman are now ruling the rule, hehe just kidding we all know they have always ruled, anyways for all of our woman audience out there we are open to suggestions on making our sites even better so we would love to hear from you.

Tampa Real Estate Forums

Sorry due to being overcome by spam The Real Estate forum has been closed.

I have decided to start a new network to bring Tampa Real Estate Professionals together to discuss and promote Tampa Florida real estate. Tampa Real Estate Forums is an easy to use phpbb style do follow forums platform that is easy to register and easy to navigate. Real Estate agents can add their homes for sale and for rent. Mortgage lenders can discuss the latest happenings in the world of lending. Home buyers and sellers can search homes and find real estate professionals. Please stop by and check out the new site we will see you there. We also welcome all are out of town and out of state real estate agents from all over the world to contribute to our forum.

Canterbury Lakes Homes For Sale Tampa

Canterbury Lakes Homes For Sale In Tampa

Canterbury Lakes homes in Tampa offers newer built homes by Standard Pacific homes built from 2004 and newer and consists of a total of 346 homes. Some of the community features are

  • Conservation homesites
  • Convenient to I-75
  • Pondsites

Search all the Canterbury Lakes homes for sale below.

Canterbury Lake Hoa