Home flipping in Tampa is declining sharply, but area remains a hotbed for speculators
In Tampa Bay, 7.2 percent of all sales were flips, higher than the national average.
Author Archive for: DomresRealEstate
Entries by DomresRealEstate
Survey says Tampa metro area has some of the worst real estate markets
Bad news for Tampa Bay homebuyers — a new study from WalletHub says this area is not a great place to buy a home. The study ranked 300 cities across the United States and placed Clearwater at No. 227, St. Petersburg at No. 221 and Tampa at No. 143 on the list. Each city was compared across 22 indicators of housing market attractiveness and economic strength. The scoring was based on topics ranging from median home price appreciation to home sales turnover rate to job growth. In the category…
High house prices in US stifle banks’ mortgage units
One obvious and striking explanation, which contrasts with the roaring US economy, asks more profound questions of all the banks: is the housing market slowing?
No one wants a storm, but another hurricane would boost PGT Innovations, report says
As Tropical Storm Gordon strengthens in the Gulf of Mexico, the Tampa Bay company that controls most of the market for impact-resistant windows and doors in Florida is in the spotlight. PGT Innovations (NYSE: PGTI), a manufacturer headquartered in North Venice, has seen strong sales since Hurricane Irma one year ago, but sales were growing even before the storm hit, the Wall Street Journal’s Heard on the Street Column reported Sept. 3. While PGT, like the rest of the Florida building industry,…
NFL legend Vinny Testaverde relists sprawling estate in Tampa suburbs for sale (Photos)
Former NFL quarterback Vinny Testaverde has relisted a sprawling estate in the Tampa suburbs for sale for $4.9 million. Engel & Völkers Madeira Beach said Thursday that it has the listing on the property, a 12,700-square-foot home on 6 acres overlooking Lake Keystone, in the gated community of Dolce Vita in Odessa. The home was on the market with a different real estate agent in 2017. The property has had some high-profile problems that eventually led to Testaverde and his wife, Mitzi, suing the…
Midrise condo tower planned near USF in downtown St. Pete (Renderings)
A developer is planning to build a small condominium project in downtown St. Petersburg, near the city's burgeoning Innovation District. Named for its address, 357 on Fifth will include 13 units that range from 1,031 square feet to penthouses that are more than 2,460 square feet. Pricing will range from the upper $500,000s to $1.35 million. The development team, which includes Dr. Julie Kessel, paid $850,000 for the site in March, according to Pinellas County property records. The property is…
US existing home sales fall for fourth consecutive month
Despite strength in the labour market and improving wages, which have buoyed demand for homes, purchases have been weighed down by rising mortgage rates and tight inventory that drive up the cost of homes.
US housing starts rise by less than forecast
US home construction rebounded by less than expected last month data on Thursday showed, prompting one economist to says housing is “the sole weak spot in the economy”.
SimpleShowing opens doors for homebuyers, sellers
The technology-power brokerage is among a growing group of companies disrupting the residential real estate sales industry.
Tampa man gets prison term for condo sales scheme that defrauded Wells Fargo, other lenders
A Tampa man who pleaded guilty to conspiracy to commit wire fraud in connection with a Temple Terrace condo sales scheme was sentenced to 18 months in prison. Daniel Cardenas was one of several people involved in the scheme to sell units at The Preserve at Temple Terrace, a 392-unit condominium complex in Tampa, prosecutors said. The scheme took place from October 2007 through May 2008. Two other men — Carlos Escarria and Alejandro Tobon — were sentenced for their part in the scheme in May. All…