Distressed sales of homes around Tampa Bay drop to lowest level in years


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Sales of distressed homes in the Tampa Bay area still exceed the national rate but have plunged to their lowest level in years. In June, short sales and bank-owned foreclosures made up 18 percent of all bay area home sales. That’s down from 22.4 percent a year ago and 42 percent in January 2011 at the peak of the foreclosure…

Gulfport mansion snagged for $3.3 million

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A 6,000-square-foot home on the Intracoastal Waterway in Gulfport has sold for $3.275 million in what ranks as one of the speediest turnovers ever of a foreclosed property in the Tampa Bay area. Real estate agent Alex Malagon said the lender had just taken back the house at a foreclosure auction when a lawyer in St. Louis called to say…

Home sales in Tampa Bay have sizzled over the summer

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The slow summer selling season has been anything but as Tampa Bay home sales shot up 30.2 percent in July. Year-over-year sales of single family homes showed the biggest gain in Hernando County, up 40.5 percent, followed by Pasco (34 percent) Pinellas (27 percent) and Hillsborough (24.9 percent.) All four counties did even better than Florida as whole, which posted…

Proposed 75-story towers would vault Tampa into top tier of skyscraper cities

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If nothing else, Port Tampa Bay’s vision for the Channel District is notable for its literally lofty ambition. A rendering of the $1.5 billion project released last week shows two 75-story towers soaring above the waterfront area that the port hopes to redevelop over 15 years. Towers that tall would vault Tampa into the ranks of such sky-scraping cities as…

Economist says millennials will determine future of housing market

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The chief economist of Fannie Mae, the national mortgage giant, came to town this week with a mixed bag of news about the housing market. Among the positives: Even if the Federal Reserve raises interest rates in September, rates on mortgage loans are likely to remain low for several more months, economist Douglas Duncan said. Home sales are expected to…

House flipping still paying off in Tampa Bay, though inventory shrinking

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Last fall, Tampa-based Badger Investments paid $86,100 for a bank-owned house in St. Petersburg that was showing its age. Out went the wall-to-wall carpeting and the window air conditioner. In came granite countertops and stainless steel appliances. Badger put the house back on the market and sold it in May for $149,000 — a 73 percent gross profit. But those…

New York style brownstones planned for downtown St. Petersburg

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Five high-end, New York-style brownstones are now planned for the downtown St. Petersburg site where a 16-story luxury condo tower once was proposed. Frank Menna, who owns the vacant lot on First Street N and Fourth Avenue, said Wednesday that the new project is a joint venture with hotel and restaurant owner Steve Gianfilippo. “I had the high-rise thing going…