U.S. CitiesCity-Data Forum Index
Covid-19 Information Page
Go Back   City-Data Forum > U.S. Forums > Florida > Tampa Bay
 [Register]
Tampa Bay Tampa - St. Petersburg - Clearwater
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
 
Old 07-26-2012, 11:52 AM
 
149 posts, read 172,473 times
Reputation: 111

Advertisements

in the northern and western parts of the Tampa Bay area. Westchase, Lutz, Safety Harbor, etc? How are the sellers/banks responding? How long is the process to make a deal and close? Is it getting better/easier?
Rate this post positively Reply With Quote Quick reply to this message

 
Old 07-26-2012, 01:02 PM
 
26,809 posts, read 41,566,940 times
Reputation: 14995
We received an offer 2 days ago and have the approval from the lender on the cash offer and can close a.s.a.p.

That is the fastest we dealt with, but we have the seller and we rather be on the sellers side then the buyers side because many agents will call once a week and if they have to leave a voice mail they will call the next week, which is causing major delays.

Of course not all short sales are easy but it comes down to having knowing how to work them...
Rate this post positively Reply With Quote Quick reply to this message
 
Old 07-26-2012, 01:12 PM
 
Location: Toledo, OH
1,725 posts, read 3,130,686 times
Reputation: 1275
Sorry, I don't want to be the only one posting in your threads CA2MA2NC (2FL). A lot of it depends on the price range. If you are looking at 300K, that is still a significant amount of mortgage money for many and it brings in a different buyer. These homes tend to stay available longer. Short Sales less than 200K are without contract very long. I wish that as soon as someone put a bid in, it would go PENDING, but it doesn't. Banks are working much faster than before because of new requirements. But they still have up to 60 days to respond. If your offer is accepted and you are financing, then it's another 45 days or so to close (can be quicker - but this is about average).
I just ran a quick search for homes ACTIVE WITH CONTRACT (Short Sales) for 33636 and there are 44 properties under that right now. There are 8 between 275K and 325K and the ADOM on the market were 109, 50, 77, 21, 40, 162, 151, and 41. These numbers can also be deceiving though. I had someone looking at an 80K Short Sale townhome is Land O Lakes. We put an offer in on the 3rd day and we were already the 5th offer received. They stopped taking offers and sent the package to the Loss Mitigation Specialist. However, the property was still listed for days after that. I see it is now PENDING as of today.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 07-26-2012, 07:29 PM
 
26,809 posts, read 41,566,940 times
Reputation: 14995
So true...some leave it as "active with contract" until closing...usually agent in need for clients tend to leave it this way all the time since they have no other way to get leads......
Quote:
Originally Posted by gulfer View Post
Sorry, I don't want to be the only one posting in your threads CA2MA2NC (2FL). A lot of it depends on the price range. If you are looking at 300K, that is still a significant amount of mortgage money for many and it brings in a different buyer. These homes tend to stay available longer. Short Sales less than 200K are without contract very long. I wish that as soon as someone put a bid in, it would go PENDING, but it doesn't. Banks are working much faster than before because of new requirements. But they still have up to 60 days to respond. If your offer is accepted and you are financing, then it's another 45 days or so to close (can be quicker - but this is about average).
I just ran a quick search for homes ACTIVE WITH CONTRACT (Short Sales) for 33636 and there are 44 properties under that right now. There are 8 between 275K and 325K and the ADOM on the market were 109, 50, 77, 21, 40, 162, 151, and 41. These numbers can also be deceiving though. I had someone looking at an 80K Short Sale townhome is Land O Lakes. We put an offer in on the 3rd day and we were already the 5th offer received. They stopped taking offers and sent the package to the Loss Mitigation Specialist. However, the property was still listed for days after that. I see it is now PENDING as of today.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 07-28-2012, 07:40 AM
 
149 posts, read 172,473 times
Reputation: 111
Quote:
Originally Posted by bentlebee View Post
So true...some leave it as "active with contract" until closing...usually agent in need for clients tend to leave it this way all the time since they have no other way to get leads......
I've been doing lots of searches and this is what I'm finding. Everything is active with contract. Are there any available homes for sale? I'm starting the get nervous about being able to find a place I like in my price range. A lot of what I find is dated 1980's and 1990's stuff with bad floor plans.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 07-28-2012, 09:27 PM
 
Location: Tampa Florida
272 posts, read 543,668 times
Reputation: 229
I keep my homes "AWC" until they have met all contingencies. Then I change the status to "Pending." Even then it can fall apart, but I think it's my duty as the seller's agent to aggressively market the home almost until the end. I don't do it to "get other leads."
Rate this post positively Reply With Quote Quick reply to this message
 
Old 07-28-2012, 09:33 PM
 
Location: Tampa Florida
272 posts, read 543,668 times
Reputation: 229
Quote:
Originally Posted by CA2MA2NC View Post
I've been doing lots of searches and this is what I'm finding. Everything is active with contract. Are there any available homes for sale? I'm starting the get nervous about being able to find a place I like in my price range. A lot of what I find is dated 1980's and 1990's stuff with bad floor plans.
Are you getting your searches straight from the MLS from a realtor or on third party websites? What is your price range? There are plenty of nice homes to be had, you just have to be ready to go look at them when they come on the market. I scheduled a viewing for a new listing earlier in the week and it was gone (IE under contract) before we could even go see it. They are not all moving this quickly obviously, but the market is moving briskly without a doubt. My last two listings went under contract in 38 days and 1 day respectively. Both were immaculate homes, very well kept and priced correctly.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 07-29-2012, 06:31 AM
 
5,133 posts, read 3,802,199 times
Reputation: 3008
After spending the first 2 weeks watching all the houses, we were thinking about buying, go under contract, while we were thinking about it, we figured out that you have to go see the house with the comps already in hand, and ready to put in a contract, if you like the house submit a contract, then think about it, you can always pull it back, we had discussions with our RE about doing this, at one point we had 3 contracts out, but you see so many multiple bid offers if you wait for your bid to come back you will lose out on other homes, if you like the house and is under contract put in a back up offer, the house we ended up buying was under contract but the peoples financing fell through/
Rate this post positively Reply With Quote Quick reply to this message
 
Old 07-29-2012, 08:11 AM
 
149 posts, read 172,473 times
Reputation: 111
Quote:
Originally Posted by Tampa Homes View Post
Are you getting your searches straight from the MLS from a realtor or on third party websites? What is your price range? There are plenty of nice homes to be had, you just have to be ready to go look at them when they come on the market. I scheduled a viewing for a new listing earlier in the week and it was gone (IE under contract) before we could even go see it. They are not all moving this quickly obviously, but the market is moving briskly without a doubt. My last two listings went under contract in 38 days and 1 day respectively. Both were immaculate homes, very well kept and priced correctly.
Just looking at realtor sites. I'm getting hooked up with a realtor now. I have to sell in NC first so I figure I won't be able to look in FL first hand until early next year. I'm wanting to keep it in the $250,000 to $300,000 range. Outside maybe $325,000. I'm just nervous what will happen with the market and interest rates between now and then.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 07-29-2012, 09:03 AM
 
Location: Not the end of the Earth, but I can see it from here
4,256 posts, read 4,408,579 times
Reputation: 4292
Until the presidential election is over, probably not a lot of change. Even in the first quarter of 13, it's unlikely that anything significant will happen with the economy.

Your biggest concern should be with Europe, since if the Euro goes south as a result of Spain or Greece, it will further depress our and the global economy.

Look at it this way: if you are successful in selling your house before the end of the year, you'll be coming into a buyer's market.

RM
Rate this post positively Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:


Settings
X
Data:
Loading data...
Based on 2000-2020 data
Loading data...

123
Hide US histogram


Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > Florida > Tampa Bay
Similar Threads
Follow City-Data.com founder on our Forum or

All times are GMT -6.

© 2005-2020, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top