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)

SEARCH FOR BEAUTIFUL HOMES IN ST. PETERSBURG, FLORIDA!

CLICK the link below to check out the great deals on beautiful home in St. Petersburg, Florida!

http://www.nextagegatewayrealty.com/10709365_0-4250-42ND-AVE-S-Saint-Petersburg-FL-33711-MLS-U7544699-RES_Detail.aspx

Is a Reverse Mortgage for You?

Reverse mortgages are increasingly popular because they put extra money in your pocket. But they're only suitable for a small number of people so don't rush into one before you know if it will really help your financial situation.

A reverse mortgage is just what it sounds like: The lender pays you, rather than you paying the lender. Essentially, you're taking out a loan against your home equity that doesn't have to be repaid until you move out of the home or die.

Here's a tip sheet with five factors to weigh when considering a reverse mortgage:

1. How it works: Typically, the loan is repaid from your home equity when the home is sold, either after you move out or you die. When your home is sold, the loan is repaid and you or your heirs receive any leftover home equity. But while the loan is outstanding, you still own the home and don't make any monthly mortgage payments. You must also continue to maintain insurance and property taxes.
2. The mechanics of the loan: Reverse mortgages are "non-recourse loans," which means that what you owe can never exceed the selling price of your home. If it does, the government or the lender makes up the difference. These mortgages are also "rising-debt loans" -- the interest (which can be fixed or variable) is added to the principal each month. The interest owed increases significantly over time because of compounding and it cannot be deducted from your taxes until you pay off all or part of the loan.
3. Who qualifies?: You must be at least 62 and own your own home, although you may be eligible if you are still paying down a first or second mortgage. There are no income or medical requirements. Reverse mortgages are available for most properties except mobile homes and co-ops. The money can be used for anything. However, if your home needs repairs to qualify for the loan, part of the proceeds must be put aside for that purpose.
4. How much money you receive: The loan amount depends on your age, the type of reverse mortgage, the value of your home, current interest rates and where you live. In general, the older you are and the more valuable the home, the larger your loan. You can receive your proceeds monthly, in a lump sump or as a line of credit that you can tap into whenever you need the money.
5. Tax implications: Your payments are tax-free because the IRS considers them a disbursement of principal, not income.

If you, or someone you know, is house rich and cash poor, a reverse mortgage may be an option to boost cash flow. But the loans are complex and a home is a valuable asset, so check with a financial adviser who can help you minimize the risks.

CLEARWATER, FLORIDA, SHORT SALES

Looking for a deal on a Short Sale in Clearwater, Florida?

Click Clearwater Florida Short Sales to search for your Clearwater dream home!

PRESS RELEASE - Realtors in Florida!

PRESS RELEASE

FOR IMMEDIATE RELEASE

May 26th, 2012

NEXTAGE GATEWAY REALTY, located in Largo, Florida, is pleased to welcome Ann Gionta as its new Broker of Record, and new sales associates Kristopher Rotonda and Karen Waite, all specializing in residential sales in the greater Tampa Bay area of Florida.  

“We are thrilled to have Ann, Kris, and Karen join our team,” says Judy Dunne, owner of Nextage Gateway Realty. “It is an exciting time to be with Nextage, as we continue to build on our dominant presence in Florida and the Tampa Bay area.”

Ann Gionta, CDPE, brings over 5 years of successful Tampa Bay real estate experience to Nextage Gateway Realty. Ann will continue to serve a customer base in the Tampa Bay area while serving as Nextage’s Broker of Record. Ann’s expertise as a Certified Distressed Property Expert will benefit all of Nextage Gateway Realty’s customers

Kristopher Rotonda brings many years as a successful personal trainer to Nextage Gateway Realty. With his unique blend of enthusiasm and desire to help others, Kristopher looks forward to serving clients in the Seminole, Largo, and greater Tampa Bay area.

Nextage Realty International, LLC, expanded into the Tampa Bay area in 2010, adding NEXTAGE GATEWAY REALTY to its growing number of franchise locations. With over 14 offices locations in Florida and 100 throughout the country, franchise owner Judy Dunne and Broker Ann Gionta look forward to providing superior service to customers in Tampa Bay, including those in Tampa, St. Petersburg, Clearwater, and the gulf beach areas.

Phone: 727-412-8562 

Nextage Gateway Realty, 12998 Walsingham Rd., Largo, FL, 33774

E-mail: gateway@nextagerealty.com

Website:  http://www.nextagegatewayrealty.com

Tampa Bay and Florida Home Prices Rise

According to an article by Mark Puente of the Tampa Bay Times, home prices rose last month in Tampa Bay and the rest of the country. The median price of single-family homes in the bay area jumped more than 8 percent from $120,000 in April 2011 to $130,000 last month, according to My Florida Regional MLS data. The bay area recorded 2,566 sales last month, compared with 2,519 in April 2011.

The price bump could offer hope to sellers who have been waiting for increases before listing their homes for sale.

So does that mean housing woes are finally in the rearview mirror?

"The first quarter has been incredible," said Nick Fraser, owner of Re/Max All Star in Madeira Beach. "Buyers realize they can't beat up sellers anymore over prices. The market has definitely leveled out."

The median price of conventional sales also rose in Tampa Bay from $157,000 in April 2011 to $165,300 last month.

Investors have dominated the market the past 18 months but are now raising their offers to compete with other buyers who are chasing affordable homes. Currently, supply is down, and demand is up for single-family homes. The supply has dropped to almost four months in Hillsborough and Pinellas counties.

The inventory also keeps falling throughout the Sunshine State.

In April, Florida had a 5.8-month supply of single-family homes and a 5.7-month supply for condos. A supply of six months is considered a normal market.

Statewide, prices rose as sales remained nearly flat when compared to April 2011. The median price rose 10.2 percent to $144,350. The sales of 17,544 houses last month dropped 0.7 percent, according to the Florida Realtors.

"The housing numbers for the state of Florida continue to signal recovery," said John Tuccillo, Florida

Realtors chief economist.

Nationally, the median price for an existing home was $177,400 in April, up 10.1 percent from a year before, according to the National Association of Realtors. March and April marked the first two-month increase in nationwide prices since mid 2010, the group said.

Lawrence Yun, chief economist for the group, said the housing situation has shifted from a buyer's market to a seller's market as the inventory of homes drops. He pointed out that it's no longer only the investors taking advantage of affordable prices.

"A return of normal home buying for occupancy is helping home sales across all price points, and now the recovery appears to be extending to home prices," he said.

For a copy of the article, please go to http://www.tampabay.com/news/business/realestate/tampa-bay-and-florida-home-prices-rise/1231378

Want to buy or sell real estate? Check Nextage Gateway Realty out at http://www.nextagegatewayrealty.com/ or call us at 727-412-8562.