Within 24 hours of listing a 1,000-square-foot bungalow near Tampa’s Seminole Heights, agent Bob Matthews received four offers. The compact but adorable house went under contract in two days and sold in May for $215,000 — $20,000 more than the asking price. “You really can’t buy anything that nice for $215,000 in South Tampa or Westchase so Seminole Heights is…
Daniel Paloscio has an enviable record flipping homes. Last April, he and a partner paid $275,000 for a house in a coveted South Tampa neighborhood. After renovations, they sold it in November for $515,000 — a gross profit of $240,000. That wasn’t their only impressive flip. A Tarpon Springs house Paloscio snagged for $170,000 last year sold six months later…
In 2012, during the bleakest year of the foreclosure crisis, a three-bedroom, two-bath house in St. Petersburg’s Russell Park sold in a distressed sale for $118,000. Just before Halloween last year, the same house went back on the market. More than 65 people showed up at the first open house, and six put in offers, all higher than what the…
Tampa Bay home prices soared nearly 17 percent in June, the biggest year-over-year jump since last summer and the second highest increase of any Florida metro area. At the same time, the number of bay area sales in June showed zero change from a year ago — another sign that prices are being driven up by the extremely tight supply…
The recent all-cash sale of a Belleair estate for $6.7 million shows that big cash deals are not limited to international hot spots like Miami and Manhattan. In the past two years, 450 buyers have paid cash for Tampa Bay homes costing more than $1 million. The vast majority of those buyers have been open about their ownership. But federal authorities…
The Tampa Bay area ranked among the nation’s most affordable housing markets at the end of 2015 even though its average mortgage rate was the highest of all major metro areas, a new study shows. To afford the bay area’s median priced home of $175,000, a buyer needed a gross salary of $41,922. That was seventh lowest among the 27…
House flipping enjoyed a big spurt of activity in 2015, and there were few busier places for flipping than the Tampa Bay area. Among 110 metro areas with at least 250 flips, the bay area tied with Las Vegas and Fresno, Calif., for second place in flips as a percentage of total single-family home sales — 9.2 percent. Only Memphis…
Tampa is among the nation’s top markets for investors hunting for good housing deals. That’s according to a new study that found a hot investment climate in six other Florida cities, as well. Forbes magazine and Local Market Monitor, a North Carolina-based data company, teamed up to produce a list of the 20 “best buy” cities — those where “investors…
With Florida’s real estate market “definitely tightening,” as one economist put it, home sales in the Tampa Bay area showed decidedly mixed results in November. In Pinellas and Hillsborough counties, year-over-year sales of single-family homes were essentially flat, although sales of condos and townhomes jumped substantially — 13 percent in Hillsborough and 16.6 percent in Pinellas. Pasco and Hernando counties…
Investing in real estate can be risky, but the Tampa Bay area is one of the best places to try it, a new study says. Over the past year, investors have earned an average gross return of 16.7 percent on local residential properties they bought, according to the online real estate investment site BiggerPockets.com. That ranks the bay area sixth…
