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Old 05-31-2009, 03:23 AM
 
Location: Tampa, FL
27,798 posts, read 32,435,463 times
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seems like the majority of listings are for short sales- which we all know take months and months to get the banks to commit.
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Old 05-31-2009, 01:29 PM
 
Location: East Tennessee
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Quote:
Originally Posted by BucFan View Post
seems like the majority of listings are for short sales- which we all know take months and months to get the banks to commit.
So sorry to say that short sales and foreclosures are about 60% of our market today. It's really hard to weed through them especially when (IMO) many of the asking prices are fabricated.
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Old 06-01-2009, 07:01 AM
 
Location: FL
216 posts, read 829,347 times
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Originally Posted by TampaKaren View Post
So sorry to say that short sales and foreclosures are about 60% of our market today. It's really hard to weed through them especially when (IMO) many of the asking prices are fabricated.
I'm looking to move to TBA this summer from NYC area.
My house is sold, I'm good to go.
Can someone explain what a 'short sale' is?
Up here we have foreclosures, is that the same thing?

Also, do I need a realtor - my SO and I will be looking for separate apartments to rent, not buy. Not yet anyway..
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Old 06-01-2009, 07:39 AM
 
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Most apts in Tampa are managed by mgt companies unless you happen to find a garage apt somewhere and there are not many of them around. Once you know where you will be working.. post again for opinions on areas to live

You might want to check out the Real Estate forum for a clear explanation of the good and bad of short sales. Simply put the house is put on the market by the owner who is about to go into foreclosure.
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Old 06-01-2009, 11:28 AM
 
Location: Tampa, FL
27,798 posts, read 32,435,463 times
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Quote:
Originally Posted by TampaKaren View Post
So sorry to say that short sales and foreclosures are about 60% of our market today. It's really hard to weed through them especially when (IMO) many of the asking prices are fabricated.
Yes, fabricated on the low side to entice buyer's interest - seems like a bait & switch scheme. Once the buyer realizes the short price isn't realistic, I'm sure they'll be offered other homes to look at. Need some consumer protection in this area, imo.
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Old 06-08-2009, 08:39 AM
 
Location: Tampa, FL
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Curious if anyone can recommend a good Tampa area bank for home mortgage loans - I see that Sun Trust is listed in Bankrate.com as having decent rates. Anyone use them? What about home insurance companies - any recommendations?
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Old 06-08-2009, 02:59 PM
 
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What about MacDill Credit or Bay Gulf Credit Union since you are in the military. They usually have better rates.
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Old 06-09-2009, 06:32 AM
 
Location: St Petersburg
61 posts, read 188,351 times
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Quote:
Originally Posted by TampaKaren View Post
So sorry to say that short sales and foreclosures are about 60% of our market today. It's really hard to weed through them especially when (IMO) many of the asking prices are fabricated.
Agreed Karen. The problem is that some Realtors don't put the stated language that they are supposed to in MLS when a home is a short sale or they don't put in the Realtor Info field the category for SHORT SALE. If they did, they'd be very easy to weed out. To consumers out there, if you see language such as "Listing price may not be enough to cover all encumbrances..." this means ITS A SHORT SALE.
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Old 06-09-2009, 12:19 PM
 
Location: Tampa, FL
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thanks for the mls listing and loan P.O.C.
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Old 06-09-2009, 07:26 PM
 
Location: East Tennessee
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I've had a Suntrust account for many years and they've been good to us. That said, Suntrust has denied loans for two recent customers. Unlike years past, it seems that many of the banks are looking for reasons to deny loans. If you're planning to use your VA, you shouldn't have any problems since the loan is guaranteed. There's a big VA regional center at Baypines in St. Petersburg.

For homeowner insurance, recent customers have gotten good rates at East Bay Insurance (Elizabeth) for Southshore properties, Coast To Coast Insurance of Florida and Italiano for Tampa properties and it's been best recently at AAA for Pasco customers. You can get an idea of rates and underwriters from the state sponsored website online at Compare Homeowner's Insurance Rates.
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