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Old 12-13-2011, 08:07 PM
 
254 posts, read 539,245 times
Reputation: 82

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Quote:
Originally Posted by Tampa Homes View Post
I'll take a shot at it.

Condo prices continue to pushed down by distress sales. Banks will not help the situation either: I just had a deal fall through last week because the bank would not approve the HOA. The buyer had excellent credit and was putting nearly 20% down.

For the most part median home prices will probably continue to be pushed down (statewide down 4% from last year) as well. Although to be honest it's all very neighborhood specific.
I tried to sell my house last year and was told very clearly by my agent that even if I had a buyer offer my 'dream price' (and believe, that ain't no dream these days compared to the boom days), the deal would have to survive the appaisal process. Apparently, they have done a 180 and now are competing to see how low they go compared to a few years ago. So if they come in lower than offered, you need abuyer who's going say they love the house much they will mortgage just what they can and pay cash for rest - and who the hell would do that with such a glut?

As to the neighborhood specific aspect, I think that is true. I live in Virginia Park, South Tampa near Dale Mabry. In the past year, S. Dale Mabry has undergone a boomlet in commercial construction. SDM has always been a super shopping and dining street. But lately, a new Whitney Bank, Wells Fargo, Chase, Bank United have a gone in. The Whitney Bank and Bank United are new construction. The Bank United adds a new dimension to the bustling intersection of SDM and Henderson. It repalced the old Ketucky Fried Chicken. The new building is a more refreshing modern, contemporary architecture that really lifts that corner up style-wise. The old Honey Baked Ham is becoming a new orange Theory gym. The long vacant Boston Market has been all fixed up and freshen up in preparation for a new tenant. Outback has put in a new concept restaurant -PDQ, on the site of the old car wash. It's a fresh new modern style that perks up that block. Right next door, the new Your Pie pizza palce opened and appears tobe packed already (same with PDQ). Further down, a new Krysal Burger opened at the Lowes. All in all, that stretch is just booming, which I would think would have to help real estate in central South Tampa.
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Old 12-14-2011, 04:52 PM
 
147 posts, read 320,740 times
Reputation: 82
Why would a bank NOT approve an HOA? Were the fees too high?
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Old 12-18-2011, 12:16 AM
 
150 posts, read 360,091 times
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Ho Hum, this is all so depressing. I do not have to sell, but I am looking to relocate. The problem is, here in Tampa, our market is more depressed than many of the areas I am pondering on, so the realtor wisdom of, "Well, you sell here cheap, but you buy cheap on the other end as well," does not hold true entirely, unless I want to move to inner city Detriot, in which cause they may pay me to move in I had hoped to sell and buy cash, but thanks to, who? our government, banks, Wall Street, our houses are nearly worthless, and that plan is out. I wonder if those who made this mess realize the breadth of the pain they have caused millions of good Americans, or if they really care. They already made their fortunes.
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