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Monday, March 26, 2007

Outlook of Tampa Bay's Real Estate Market-Tampa, Fl

Tampa Bay having a growing economy and great climate, is really a wondrous haven to live in. Money magazine predicted that Tampa Bay real estate market will be one of the toughest in the US in the next years to come.

Even Fiserv Lending Solutions has the same prediction; in the recent survey it actually forecast a 2.8% growth in the housing prices in the Tampa Bay real estate market in 2006. Florida is jumping with the rise of real estate property prices. The increasing demand of the real estate properties that are most remarkable are its residential and commercial real estate markets.

There are array of reasons why the homes are being bought. Holiday makers like the European and American, actually finds Florida as the greatest summer holiday site. So usually heaps of people gather to the place every summer. Florida has a lot of attractions to offer and a lot of it is in Tampa Bay, that’s why masses of visitors and tourists are fond of visiting the place.

Because of the speeding growth of Tampa, Super Bowl will come here in 2009, which is actually the fourth Super Bowl held in Tampa. This has verified to have dramatic effect on Tampa’s success.

Since Florida and Tampa in particular has gained a growing economy, it now becomes a good place for business and employment. Florida was ranked as the second best locations in the US for those who started a businesses. A lot of companies are being offered a corresponding grant program that has produced over $120 million in applied research, that’s why greater numbers of companies are relocating their businesses in Tampa. About 200 companies now are enjoying the benefits of the offer.

In comparison with the other parts of the US, Tampa Bay real estate market enjoying the benefits of having more flattering property taxes. There are no state income taxes and have more reasonably car insurance rates in Tampa Bay and at the rest of Florida. The Tampa Bay area even offers the greatest mode of travel to work. And at the recent years, the education system has been improving.

Tampa Bay is not only for those who wanted to have a second house, or for those who wanted to just enjoy the view of the beauty of Tampa Bay, or for those who wanted to increase their rental market but also for those who wanted to start up their lives or those who are in search for their retirement homes.

To sum up, Tampa Bay is an area for repositioning, investment, a second home; it is indeed one of the most striking places in the US. And will still be for the other years to come… Tampa Bay real estate market’s future is brighter and shinier. Tampa Bay is certainly to be a tough real estate market, as long as it will remain the alluring opportunities that it has to offer.

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Thursday, March 15, 2007

Prudential Tropical Realty adds Quality Service Certified® professionals-Tampa, Fl

Rae Catanese
Prudential Tropical Realty
For Immediate Release 3/15/07

We're Held to a Higher Standard!

Prudential Tropical Realty's Quality Service Certified® professionals offer consumers the confidence of a reliable, consistent and accountable customer service process. Quality Service Certified® assures you the highest level of service in the real estate industry.

Our World Class Service Guarantee Ensures Your Real Estate Professional will:

  • Prepare a Competitive Market Analysis to assist in developing a pricing strategy

  • Create and present a written marketing plan with strategies, programs and buyer targets

  • Commit to regular communication and feedback

  • Monitor and communicate the status and satisfaction of contract contingencies

  • Complete a thorough market search to identify properties consistent with your needs and price range

  • Prepare a written offer to purchase the property of your choice reflecting your price and terms encompassing all required disclosures

  • Provide advice and negotiating assistance on all offers to purchase
    Contact you and follow up after closing to assure the satisfactory completion of all service details

  • Offer you the opportunity to evaluate the services provided through the Quality Service Assurance Survey

QSC offers independent validation of service performance and provides an assessment for individuals, offices and companies. Associates earn the QSC designation following the completion of course studies and the passing of a detailed examination. A Quality Service Assurance Survey© is sent to each buyer or seller after a home purchase or sale closes to measure the customer’s satisfaction level of their real estate professional. The service performance assessment is produced from these surveys by an independent third-party organization and posted online to a public web site at

© 2007, An independently owned and operated member of Prudential Real Estate Affiliates, Inc. is a servicemark of The Prudential Insurance Company of America. Equal Housing Opportunity
Copyright Prudential Tropical Realty

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Friday, March 09, 2007

Website offers one stop shopping for Condos & Lofts-Tampa, Fl

Looking for a Loft or Condo
in the Tampa Bay Area?

When purchasing condos and lofts in the Tampa Bay Area, Downtown, Channelside, Ybor City and South Tampa, know what your options are.

Developments and inventory are abundant at The Slade, The Place, Victory Lofts, Channelside Lofts, The Lofts at Meridian, Ventana, Towers of Channelside, Box Factory Lofts, the Residences of Franklin St.,345 Bayshore, and The Arlington in Downtown Tampa.

Pre-Construction pricing and resales available in all developments. Pricing has now come down significantly to what sellers paid or less. Now is the time to buy in Tampa!

The Slade, The Place, Victory Lofts, Channelside Lofts, The Meridian, Ventana, Grand Central at Kennedy, Box Factory Lofts, the Residences of Franklin St.,345 Bayshore,and The Arlington in Downtown Tampa.

For an updated price list of condos and lofts in the Tampa Bay Area, Downtown, Channelside, Ybor City and South Tampa. email or call us at 813-784-7744

Thursday, March 08, 2007

What you should know about selling your pre-construction condo-Tampa, Fl

What you should know about selling your pre-construction condo-Tampa, Fl

Many people may not realize what their options are when trying to sell a condo that they purchased during a pre-construction sale. How would people know until now, when the buildings in Channelside, Harbor Island, and Downtown Tampa are all starting their closings. There's no telling how many people invested in the big Real Estate boom, purchasing units expecting to make big bucks in the Tampa Real Estate Market.

We are now going to experience foreclosures and defaulting of contracts in the areas that became over saturated in condo construction. Our blogsite has been receiving hits over the past month with searches pertaining to "how to get out of a real estate contract" and "are condos good investments". This suggests that people are trying to get out of their contracts, finding out they can't, and then defaulting.

It was customary to put down 10% of a purchase price for a pre-construction project. So figure 300K on the low end=$30K. Are people really willing to loose that much money or will they take the chance that they can re-sell for a profit or break even?

Recently, my Real Estate partner Michelle Jordan was contacted by a former co-worker who is in such a position. He purchased a pre-construction condo in the Channelside area due to be completed sometime this year.

It was purchased for investment purposes and he was curious what his options were when it comes time to sell. This particular "new project" (which will have 392 units in it) still has 40 plus units for sale by the builder.

When he decides to sell, he will more than likely be competing directly with the builder and will have to price it competitively. This could mean selling it for less than his original purchase price. At this point, it's possible he may be out the money he put down as well as the closing costs. He also has to keep in mind that all the other investor/owners who close on their units may be be putting theirs up for sale as well.

With at least a years worth of inventory and the influx of other new condos coming to the market, along with with a shortage of buyers to go around, owners will have to carefully weigh their options. Keep it and move in, sell or rent it. Either way, it's more important than ever to consultant a professional.

For questions regarding the Tampa Real Estate Market, please feel free to contact Realtors, Michelle Jordan (813) 695-5677 or Rae Catanese (813) 784-7744. Prudential Tropical Realty

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Wednesday, March 07, 2007

10 Simple Rules of Thumb for First-Time Homebuyers-Tampa, Fl

10 Simple Rules of Thumb for First-Time Homebuyers
Handy tips and tidbits to help you make the big decision

  • Know what you can afford to spend. You'll find Qualifying Calculators on sites such as Bankrate.com and E-Loan.com. What they don't add into the equation is home owner's insurance, taxes and any association fees. Get a lender who is local and can provide you with a "good faith estimate" which will outline in greater detail what your monthly payments will be once you factor in these additional costs.

Find out if you qualify for homebuying help. The U.S. Department of Housing and Urban Development has programs to help teachers, firefighters and others buy affordable homes. Federal Housing Administration loan programs offer lower down payments to help first-time buyers. Go to HUD's website (www.hud.gov) for details.

  • Get a Realtor who understands the Real Estate Market, what you are looking for, and can guide you in the right direction. A buyer's agent is compensated through the sellers agent's commission so it costs you nothing!

Don't spend time looking at homes you can't afford. Staying only with homes in your price range reduces the temptation to over-extend your budget.

  • Realize the neighborhood you choose is at least as important as the house. Make sure you are comfortable there. While houses can be modified, finding a community that is a good fit for your family is vital.

  • Think about resale value. When you spot a home you like, consider how it will look to future buyers. For instance, proximity to a busy street can turn some buyers off.

Investigate ongoing maintenance costs and other factors such as taxes, insurance and utilities.

  • Have the house inspected, and carefully review the report. Come up with a negotiation strategy, remembering that the seller is obligated to fix a leaking roof but not a hole in the carpet.

Examine the pre-closing statement provided by your agent or lender, and ensure that you have enough cash to swing the deal when you go to settlement.

Rae Catanese is a licensed Realtor with Prudential Tropical Realty. To contact her call 813-784-7744 or email: realtyrae@yahoo.com with any questions.

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