Tampa Short Sales Catching Up to Tampa Bank Owned Homes Deals

The market is quickly being sold off.  The Tampa market currently has 10 months of inventory, down from a year ago of 24 months of inventory, but still up from when things were crazy at just 1.5 months of inventory.  In either event, the banks are becoming more cooperative and are trying to sell these homes that they have a lien on as quickly as possible. 

A short sale is basically a home that the home owner owes more to the bank than what the property is worth and the lien holder(s) must agree to take less than what is owed for the title to transfer.  Bank Owned is just that, Bank Owned so they are the seller, a less complicated deal in this market.  But what I have seen is that the short sales are getting faster, the banks are not trying to hold out for some ridiculous amount of money, and they are making deals and writing down loans.  It is getting difficult to tell the difference between the two in terms of length of time to process offers.

If you are looking for a great deal, and would like to go the route of a Tampa Bank Owned Homes or a Tampa Short Sale, we have processed some 50+ contracts.  We know how to write them, and know how to get them approved.  So if you are in the market, please look us up…you won’t be sorry and your wallet with be thanking you later!

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~ by ToughGuy on July 5, 2008.

One Response to “Tampa Short Sales Catching Up to Tampa Bank Owned Homes Deals”

  1. […] – bookmarked by 4 members originally found by SereneDarkness on 2008-11-07 Tampa Short Sales Catching Up to Tampa Bank Owned Homes Deals […]

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