The Tampa Housing Bubble 2.0 Thread (Miami, St. Petersburg: section 8, short sale, rent)

[EngGirl]

Originally Posted by housingcrashsurvivor

You had stated that



Your statement was wrong. I showed you why your statement was incorrect. That you would now try to pass off what you previously said as being "actually a mirror of 2005-2006 time frame" into "what the current market reminds me personally" is nothing but subterfuge typical of a pathological liar. Say hi to Algia.

I think I am done with you. After all talking to someone who believe University mall area is a very potential area is like talking to mentally ill person nice nickname by the way
P.S. someone here asked why people are falling into second housing bubble. I just found someone who can answer this question!

[TampaKaren]

Originally Posted by BucFan

Quick question: selling home from one family member to another. Cash deal. Home paid for clear and clear. Who/what is the best/most reliable agency to get this done at least expensive manner? Can you just go to a title company and get it done? Will a real estate agent want his/her full commission without doing any kind of listing/work typical of a sale. Does a real estate atty complete the transaction documentation?

Where to go? Trying to get this done without the added 6% commission.

A title company can do the whole thing (transfer title, prepare docs, and insure).

If you want a binding contract between the parties, then a real estate attorney or real estate agent can prepare it.

Attorneys and agents will have fees but you still need a title company. I did three of these last year for a flat fee. One, I wished I'd never.

So, if there are no contingencies (inspections, survey, financing, etc.), then a title company is the cheapest way to go. It all ends there anyway.

P.S. I just realized another less desirable option. If you don't want an insured title, that you can get a quit claim deed and go to the Court Clerks office, pay the taxes, and file it. I wouldn't recommend this unless you are certain the title isn't clouded by liens. We did this with my parents house years ago.

[housingcrashsurvivor]

Originally Posted by EngGirl

I think I am done with you. After all talking to someone who believe University mall area is a very potential area is like talking to mentally ill person nice nickname by the way
P.S. someone here asked why people are falling into second housing bubble. I just found someone who can answer this question!

Mod edit: Personal attacks are against our TOS.

I've never said the "university mall area is a very potential area"

I did say that over time, given its location, it has potential because of area resources and highway access but also I said that I'm not invested there.

I also told how I was involved in gentrification of a previously rough area which we transformed so successfully that we got a write up in the New York Times, front page below the fold.

I had reported that a company which invests in a big way in retail is putting money there.

But how surprising that you would lie about that too.

I know this is going to come as quite a shock to you, but your telling yet another lie doesn't make your previous lie go away.

Let us know when that PhD comes through for you.

PS Having shown you to say so many bigoted statements (about which by the way I received reps and private messages of praise) and having shown you to outright lie and attempt to change your story midstream, that you would now say "I think I am done with you" unsurprisingly seems no great loss.

[BucFan]

Originally Posted by TampaKaren

A title company can do the whole thing (transfer title, prepare docs, and insure).

If you want a binding contract between the parties, then a real estate attorney or real estate agent can prepare it.

Attorneys and agents will have fees but you still need a title company. I did three of these last year for a flat fee. One, I wished I'd never.

So, if there are no contingencies (inspections, survey, financing, etc.), then a title company is the cheapest way to go. It all ends there anyway.

P.S. I just realized another less desirable option. If you don't want an insured title, that you can get a quit claim deed and go to the Court Clerks office, pay the taxes, and file it. I wouldn't recommend this unless you are certain the title isn't clouded by liens. We did this with my parents house years ago.

Thanks Karen. My doubles partner told me about the quit claims deed just this morning when I asked him about how to transfer the home and might be the way for us to go. He just happens to be a loan officer and told me about the process. I'm confident that there's no lien or issues with the title. Will discuss w/ my father - thanks for your assistance as usual.

[Garson]

BucFan - We have done several quit claims - just be careful to follow proper procedures to the letter. We only had a problem once and were not sure if we screwed up or if the County didn't process something correctly or gave us wrong instructions (not so difficult to imagine) It just took a couple of extra steps when we sold the property so wasn't much of a hassle but it would have been if the original owner was no longer living.
So cross your T's dot your I's and get everything filed as needed. Then check county records later to make sure it was processed - which takes an extraordinary amount of time. If the county is nothing else they are extremely slow.

[BucFan]

Originally Posted by Garson

BucFan - We have done several quit claims - just be careful to follow proper procedures to the letter. We only had a problem once and were not sure if we screwed up or if the County didn't process something correctly or gave us wrong instructions (not so difficult to imagine) It just took a couple of extra steps when we sold the property so wasn't much of a hassle but it would have been if the original owner was no longer living.
So cross your T's dot your I's and get everything filed as needed. Then check county records later to make sure it was processed - which takes an extraordinary amount of time. If the county is nothing else they are extremely slow.

thanks - the bolded area will likely be the case here - and is concerning....thanks for the guidance

[GulfCoastGuy]

Moving right along...
On a more positive note, I am seeing more price reductions coming in from Zillow alerts.

[EngGirl]

I also noticed price reductions, but to be honest prices are still too high to attract buyers even after these reductions.
I think interest rates will be going up soon, so we should see prices for houses going down more.

[bentlebee]

Originally Posted by TampaKaren

P.S. I just realized another less desirable option. If you don't want an insured title, that you can get a quit claim deed and go to the Court Clerks office, pay the taxes, and file it. I wouldn't recommend this unless you are certain the title isn't clouded by liens. We did this with my parents house years ago.

As you have we have seen the case where people clouded the title and had a difficult time solving issues to even sell the property and the money paid to resolve issues and the time frame it can take makes you wonder why people don't go the route as you and I advised and have a title company or lawyer involved

It is even worse with a client of us who bought it without representation and thought he made the deal of a life time to now being in foreclosure procedures and just paid off a $ 1750 lien from the HOA for not having an estoppel letter while conducting the quit claim deed and unpaid HOA fees but that is the least of his issues.... the mortgage attached to the property and that lender is foreclosing on him so the great deal and money put into the home to fix it up which were a couple of thousands may end all up in nothing and having his credit shot and a foreclosure in his name all for the thought of an easy transaction without professionals!

[housingcrashsurvivor]

Originally Posted by LKJ1988

She lives in her own little world.

Funny. I won't say who but I got yet another rep (and thank you mystery caller for that) with private note attached which read very similar to your quip.

It could actually be a pathology. I've seen such things before where someone would argue the color of a yellow bus, insisting on purple. I don't think that's what they see but that's all their mind lets them say. In person they often or at least eventually get caught but online is relatively safe for them.

Here again is the misperception or outright lie, however anyone cares to describe it...

Originally Posted by EngGirl

I also noticed price reductions, but to be honest prices are still too high to attract buyers even after these reductions.
I think interest rates will be going up soon, so we should see prices for houses going down more.

when here is the reality...

Tampa area home sales, median prices rose in February | TBO.com and The Tampa Tribune

Published: March 23, 2015

Home sales in the Tampa Bay metro area and the median price for those homes were both up in February...

Home sales in the Tampa-St. Petersburg-Clearwater metropolitan statistical area went up 28.6 percent in February compared to 2014