Report shows home affordability in Tampa has improved slightly, remains below historical median
While home affordability in the Tampa area has improved slightly in the past year, homes are expected to stay unaffordable until the next possible recession. A new report from John Burns Real Estate Consulting shows that 57 percent of Tampa metro households are able to buy an existing entry-level home with a 5 percent down payment. An entry-level home in the Tampa metro area costs $172,400, which is 20 percent beneath the median home price of $215,500. Homes have become more affordable than last…Original Article
Earnings in Tampa Bay are simply not keeping up with housing prices. According to a report from ATTOM Data Solutions, average earnings in Hillsborough, Pinellas and Pasco counties fall considerably short of the annual income required to buy a house, based on a 28 percent front end debt-to-income ratio and 3 percent down. The average resident in Hillsborough County earns slightly more than $54,000, compared to a required annual income (for a house) of $58,258. In Pinellas County, the average income…
Two construction companies that were originally awarded buildings in Water Street's first phase are now building the apartment towers.
Gentrification is more beneficial for the original residents of a neighborhood than previously thought, according to a new study of fast-improving city neighborhoods across the US.
More Tampa Bay homeowners are keeping up with their mortgages. According to a loan performance insights report from CoreLogic, this past April, the mortgage delinquency rate in the Tampa-St. Petersburg-Clearwater metropolitan area, 3.9 percent, was 2.4 percentage points lower than it was in April 2018, when it was 6.3 percent. The serious delinquency rate decreased, too. This rate — which measures payments that are 90 days or more past due, including loans in foreclosure — also decreased by…
J. Timothy Gannon, the co-founder of Outback Steakhouse and Tampa-based Bloomin’ Brands, has exchanged Palm Beach mansions and millions of dollars with hedge fund executive Laurence M. Austin and wife Molly M. Austin. Gannon sold his 7,005-square-foot beachfront mansion at 1300 N. Ocean Blvd. for $12.23 million to the Austins. On the same day, the Austins sold their 5,802-square-foot home at 235 Nightingale Trail to Gannon for $5.76 million. The listing agent for the home at 1300 N. Ocean Blvd.…
A developer is targeting one of the largest remaining vacant parcels in the Tampa suburb.
Using government subsidies, tax credits and zoning changes, city leaders are encouraging builders to incorporate affordable housing into mixed-use projects.
Contemporary townhouses are coming to one of St. Petersburg's most historic neighborhoods.
The developers of the 53-story Riverwalk Place will begin external demolition of the CapTrust building, a process expected to take more than a month and affect traffic patterns in downtown Tampa. The developers — a partnership of Tampa's Feldman Equities and West Palm Beach-based Two Roads Development — said on July 2 that they will begin external demolition on July 8. Internal demolition of the building has been under way since at least early May. On July 5, the developers said via a spokesman…