Tampa Bay Realtor Information Guide

Tampa Bay area foreclosures were up in the first quarter of 2012. While half the country saw decreases in foreclosures, the other half including Florida and the Tampa metro area saw increases. Oddly enough Pinellas County actually saw a decrease in foreclosures. To see all of the numbers and reasons why click here to be taken to TBO.com.

With some of the nations largest banks reporting quarterly earnings last month we can sift through that data to get a gauge on the overall state of the economy and the housing market. Wells Fargo, the bank which issues the most home loans and JP Morgan Chase, the largest bank in the country both issued more mortgages and took in more mortgage applications. The keys to this increase in mortgage activity were record low interest rates and job growth. Although home prices do continue to fall this is a good sign and a trend we all hope will continue. To see the full article on TBO.com click here.

Locally the Tampa Bay Area has seen a surge in bidding wars for quality homes priced right. We touched on this subject last month, the low volume combined with low prices and even lower interest rates is motivating more and more people to upgrade or move. Reports of sellers receiving offers above asking price may be shocking to some, but not local realtors in the know. These factors among others are creating a sellers market, but it may not last long. See the post below for more info on an increase in foreclosure filings which would increase volume in the market. Click this link here for the full article about bidding wars by Mark Puente of the Tampa Bay Times.