Clearwater, Florida, Short Sale Realty

If you always wanted to live a resort style life in beautiful and sunny Florida,  short sale properties in Clearwater, Florida are one of the best opportunities to come along in decades for buyers.

The scenic city of Clearwater is situated in mid Florida, due west of Tampa. Over the past decades, many investors sought homes and property in this luxurious area, but as the U.S. economy struggled during the past few years, the area became distressed, and a large number of properties went on the market about the same time. This caused prices to fall to historic lows and many sellers, attempting to just clear their portfolio and debt, approached their lenders with requests for short sales. The result? The widest selection of fine homes at excellent prices in many, many years.

Now that the market has begun to stabilize, falling home prices have stabilized as well, and you can find absolute bargains on wonderful homes. The Clearwater area is well known for the beautiful powdery beaches, the harbors, and activities. With bank mortgage rates at historic lows, there couldn't be a better time for you to pick up your dream home.

Check out Clearwater, Florida Short sales here: http://www.nextagegatewayrealty.com/225423-Clearwater-FL-ShortSale-RESCity.aspx

Questions? Feel free to give us a call at Nextage Gateway Realty - 727-412-8562 .

Hispanics to Make Up Half of New Buyers by 2020

Some housing experts say a “mega-boom in home ownership” is brewing as Hispanic Americans look to join in home ownership. Indeed, Movoto, a real estate brokerage in San Mateo, Calif., predicts Hispanics will make up half of new home buyers nationwide by 2020.

The growtin in that time frame is expected to be big, considerint that currently 75 percent of first-time home buyers are white and only 11 percent are Hispanic.

But observers say that with Hispanics' birth rates and purchasing power drastically increasing, Hispanics are expected to be a powerful force in real estate in the coming years.

More than half of all infants born in the United Sates last year were minorities or multiracial, according to U.S. Census data. Hispanics account for 8.9 births for every death, while whites have 1.1 births for every death. The Hispanic population in the United States has more than tripled between 1980 and 2010, according to the National Association of Hispanic Real Estate Professionals’ data. "In veneral, Hispanics hold fast to the American dream," states a recent article at Forbes.com. “According to national housing surveys, despite worries over jobs and the economy, they are more eager to become home owners for both emotional and financial reasons.” 

Source: "American Dream: Hispanic Home Buyers on the Rise," Forbes (May 31, 2012)

Struggling Florida home owners to get additional "Hardest Hit" help.

The Florida Housing Finance Corporation announced changes to the Hardest Hit Fund program last week that may help struggling home owners in the Florida real estate market get back on their feet in a more expedient manner. Residents of regions such as Tampa Bay and South Florida, who have felt the sting of the housing recession more so than any other area of the country, will welcome the relief.

Launched in 2010, the U.S. Treasury created the “Housing Finance Agency Innovation Fund for the Hardest Hit Housing Markets” and allocated funds under the Emergency Economic Stabilization Act of 2008 to Florida, California, Michigan, Arizona, and Nevada. Initially allocated to these states because of their excessive housing market depreciation and to assist in foreclosure prevention efforts, the Hardest Hit Fund expanded to 18 states and the District of Columbia, all severely affected by under-employment and the steep decline in real estate prices. Administered by each state’s Housing Finance Committee, benefits of the fund may include mortgage payment assistance, principal reduction, and help paying down second lien holders.

Changes to the Hardest Hit Fund are intended to decrease eligibility roadblocks, which seemingly prevented many Florida home owners from qualifying for assistance. Changes include allowing home owners longer periods of mortgage assistance, elimination of the monthly expense/income qualification ratio, and increasing the allowance cap to bring the loan up to date, to name a few. The previous requirement that a home owner’s monthly expenses equal less than 31% of their gross income in order to qualify for assistance has also been eliminated.

The changes will likely allow more home owners to benefit from the program. As of December, 2011, only 3% of the available money had been used up by just over 30,000 home owners nationwide, according to the Inspector General of the Troubled Asset Relief Program (TARP). 

To apply for assistance, Florida home owners should visit flhardesthithelp.org.