Overnight real estate rates hit flat spot
30-year fixed rate at 6.17%; 10-year Treasury yield at 4.64%
Friday, August 24, 2007Inman News
Long-term mortgage interest rates were mostly unchanged Thursday, and the benchmark 10-year Treasury bond yield dipped to 4.64 percent.
The 30-year fixed-rate average held at 6.17 percent, and the 15-year fixed rate edged up to 5.79 percent.
The 1-year adjustable gained to 5.57 percent.
The 30-year Treasury bond yield was down to 4.94 percent.
Rates and bonds are current as of 7:15 p.m. Eastern Standard Time.
Mortgage rate figures are according to Bankrate.com, which publishes nightly averages based on its survey of 4,000 banks in 50 states. Points on these mortgages range from zero to 3.5.
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Friday, August 24, 2007
Overnight real estate rates hit flat spot
Monday, August 20, 2007
Survey reveals 49% of consumers say right now is the time to buy!
Tampa Bay Business Journal - August 17, 2007
by Michael Hinman
Staff Writer
More than half of the homeowners in the Tampa Bay region feel that this is as good a time as any to buy a new home, but getting them to buy is a different story.
Sales for existing homes continue to decline as much as 35 percent in the area while median prices are dropping just 6 percent according to the Florida Association of Realtors. However, a new survey from Attorney's Title Insurance Fund says many potential buyers are waiting to see how the currently volatile market will play out.
"I've had a couple of people tell me that they are going to wait to see what happens next year," said Rae Catanese, a Real Estate Agent with Prudential Tropical Realty in South Tampa. "With as many homes that are on the market right now, I think there has just been too much bad publicity lately about the market and people are scared of the unknown."
Harris Interactive conducted the housing survey on behalf of the Insurance Fund in June, asking more than 1,400 homeowners in Florida their thoughts on the current housing market.
Some 49 percent in the Tampa area said right now is a good time to buy a house or condominium compared to 42 percent last year. However, just 25 percent of those respondents said they intend to buy a home themselves in the next two years.
A January report by the Greater Tampa Association of Realtors said available inventory in the area had doubled since the beginning of 2006 and that an increased inventory played into lower prices.
Buyers waiting for larger drops may be missing an opportunity. Lawrence Yun, a senior economist with the National Association of Realtors, said new construction has been drastically reduced, causing existing home median prices to actually rise nearly 2 percent nationwide by early next year.
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Sunday, August 19, 2007
The Slade at Channelside Becomes a True Reality-Tampa, Fl
The Slade at Channelside Becomes a True Reality – Secures Major Financing
Cobalt Development Group secures $66 million in financing for The Slade condominium in Tampa. Construction to begin immediately.
Source: Americas Media GroupAug 16, 2007
The Slade at Channelside
(PRLog.Org) – (Miami, FL) August 15, 2007- The Slade at Channelside in Tampa took a significant step towards becoming a true reality with Cobalt Development Group securing major financing for the pre-construction condominium development.
Wells Fargo Bank has agreed to further finance The Slade by committing over $66 million in funding for the project. The Slade recently surpassed the 60 percent sales mark paving the way for the approval of the loan, and the early preparation of the build site. “This in my opinion is a monumental achievement. It is a milestone that speaks for itself and communicates the realities of our project,” said Juan Porro, President of Cobalt Development Group. “The reality is that our project's attributes are very well balanced with great pricing, a terrific design, an attractive location, and a strong positioning in one of the least saturated metropolitan markets in the country,” he continued.
To commemorate construction commencement a groundbreaking event is slated for September 25, 2007.
About The Slade – The Slade’s location in Channelside is among the most desirable locations in Tampa Bay. This pedestrian friendly neighborhood features a trolley connecting the area to the local culture such as the aquarium, museums, theatres, restaurants and nightlife.
In addition it is close to Tampa’s central business district. Centrally located, The Slade is 30 minutes from the beach and 45 minutes to Disney World.
Amenities include:
• State of the art 280-unit condominium development
•Eight stories with units ranging in size from 780 to 1,539-square-feet with nine foot ceilings, large walk-in closets, floor to ceiling sliding glass doors, windows that exceed hurricane code standards
• Each kitchen designed with granite countertops, Italian cabinetry, GE-Profile stainless-steel appliances including a convection oven, and built-in wine cooler
• Bathrooms with European-style fixtures, and marble vanity tops • Separate salt and fresh water pools, yoga and steam rooms, a club room, fiber optics throughout each unit, and a smart technology system
The Slade provides Tampa with a fresh residential concept that blends urban convenience with affordable luxury in an attractive and up-and-coming area.
Looking for condos for sale in Channelside? We can help!
Call or email us.
813-695-5677
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Buy Retirement Home Now, Move in Later-Tampa, Fl
Daily Real Estate News August 13, 2007
Buy Retirement Home Now, Move in Later
With prices in many areas at a low ebb like the Tampa Real Estate Market, it might make good financial sense for Baby Boomers to buy their retirement homes now, even if they're still years away from actually moving.
They can find renters who will pay the bills until they're ready to live there.
Here’s some advice for people who are considering this strategy:
Shop carefully. It's best to buy a home that can be rented for a rate that, after tax considerations, will cover the mortgage, real estate taxes, and insurance.
Study up on housing trends. Ask the local or state planning department for demographic and economic data. The information can reveal facts that will influence whether or not to buy. For example, big companies going out of business or military base closings can be bad news.
Don’t forget maintenance. Consider who’ll take care of the house in the owner’s absence. Property managers charge 6 percent to 15 percent of the monthly rent. Family members may be willing to do the job for free, but they could be ill equipped to do the job if the don't have any experience.
Consider financing. Boomers with sufficient equity in their current homes can tap it to either buy their retirement home outright or secure a much lower mortgage rate compared with a loan at the rate often offered to buyers of investment property.
Source: The Washington Post, Belly L. Kass, Esq. (08/11/07)
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Wednesday, August 15, 2007
The BEST way to determine Tampa Real Estate Values
Hi Everyone,
Here is the most accurate information when determining what your home is worth, statistics on the Tampa Real Estate Market, and what other homes are selling and listed for in your neighborhood.
Our local Tampa Board of Realtors offers Real Estate agents tools to help buyers and sellers determine local market conditions.
For those of you that use Zillow, you may find that the property values often don't make sense based on your particular area or home. These days listing your home for a higher or lower price based on information that isn't as reliable as the MLS may cost you time and money.
Our Real Estate reports are produced on a quarterly basis and provide comprehensive information on the state of the market in the Tampa Bay Area.
You may recieve a current report by emailing us.
Looking to buy or sell? Let us show you how we can help you!
Search Tampa Homes for Sale
Prudential Tropical Realty
813-784-7744 or email
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Sunday, August 12, 2007
Update on the Slade at Channelside-Tampa, Fl
The Slade is now 60% sold in less than one year!
The Groundbreaking celebration will take place next month. Invitation to follow
How did we achieve these numbers in such a challenging market?
Timing, Location, and Value!
Buyers lock in a preconstruction price and close in 2009!
The Slade provides an amazing, all inclusive residence with dazzling amenities at a competitive price point ($300s to $500s).
Please contact Michelle Jordan at 813-695-5677 for more information on reserving your condo at The Slade in Channelside.
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