David Eaton can count on finding one thing almost every time he opens his mailbox: A letter or postcard from someone wanting to buy a house he owns.“I could fill a filing cabinet with them,’’ Eaton, a St. Petersburg lawyer, said of the solicitations. “I get at least a half dozen a week.’’If you own a house in the Tampa Bay area, chances are you’ve received at least one “Dear Homeowner ‘’ letter offering to buy it for cash, “as is’’ and with no closing costs or commissions. And if it’s a somewhat tired-looking house worth less than $125,000, chances are you get enough solicitations to paper an entire wall.There’s a reason “Jason” and “Carrie’’ and “Roland” have become such avid correspondents: It’s getting harder for investors like them — or the companies they work for — to find houses they can profitably flip.In the third quarter of this … [Read more...] about They want to buy your Tampa Bay home for cash — and flip it
Buys houses for cash
Call them the frustrated wannabe sellers — eager to list their homes for sale this spring but feeling locked out of their markets by severe inventory shortages and rising prices in many parts of the country. They want to move. They believe they could sell relatively quickly. But they can’t find affordable, desirable replacements for their current homes because there are fewer to choose from. So they don’t list, thereby contributing to a pernicious cycle that worsens the inventory squeeze. According to the National Association of Realtors’ latest data, total listings of homes for sale are down by 8.1 percent over the past year alone, and they have fallen year over year for 33 consecutive months. A new study by Trulia.com found that inventories have sunk to their second-lowest level since the company began tracking them in 2012. Meanwhile, prices are up in major segments: median starter homes by 9.6 percent for the year, trade-up homes by a median 7.5 percent. … [Read more...] about Shortage of houses for sale reaches ‘epidemic’ levels
Share This Story! Let friends in your social network know what you are reading about Facebook Email Twitter Google+ LinkedIn Pinterest Metro Phoenix is a growing hub for new housing for adults with specialized needs Luna Azul will have 30 homes, 24-hour staff and a clubhouse. It is one of several new housing options in metro Phoenix for adults with special needs. Sent! A link has been sent to your friend's email address. Posted! A link has been posted to your Facebook feed. Join the Conversation To find out more about Facebook commenting please read the Conversation Guidelines and FAQs Subscribe Today Log In Subscribed, but don't have a login? Register your digital access. Renderings of new development Luna Azul Luna Azul is a new community at 16th Street and the Loop 101 that will have 30 cottage-style homes, 24-hour staff and a clubhouse for adults with special needs. Sean Zimmerman Renderings of new development Luna Azul … [Read more...] about Metro Phoenix is a growing hub for new housing for adults with specialized needs
Last Updated Aug 3, 2009 2:28 PM EDT Who says super high-end homes aren't selling? In last week's Los Angeles Times' Hot Property column, real estate editor Lauren Beale revealed that Hugh Hefner and his Playboy Bunny Wife Kim sold their house next door to the Playboy Mansion for a cool $18 million. That sounds like a lot of cash, but Hugh and Kim Hefner took more than a bit of a hit from the March 2009 $27,995,000 list price - a 35 percent decline in the sales price. According to Beale, the house is a 7,300 Tudor-style home built in 1929, with 5 bedrooms, 7 bathrooms on 2.3 acres backing up to the Los Angeles Country Club. Celebrity site TMZ offered up this photo which shows that perhaps Mr. and Mrs. Hefner took the whole "next door neighbor's thing" to a whole new level. Like many empty-nester families, the Hefners are supposedly selling because their sons are heading to college. Will they downsize into one house (presumably the Playboy mansion) instead of two? Meanwhile, there are … [Read more...] about Who Bought Hugh Hefner and Playboy Wife Kim’s House for $18 Million?
Last Updated Oct 14, 2009 12:31 PM EDT It's Cash for Clunkers - but for home buyers. That's how Sen. Johnny Isakson (R-Ga.) described his $15,000 home buyer tax credit proposal. The proposed legislation would have given a $15,000 tax credit to any home buyer who bought a home, regardless of income. Sen. Isakson's proposal would have also extended the date of the proposal for a full year from the date of enactment, making home buyers eligible for the tax credit well into 2010. The proposed $15,000 home buyer tax credit was supported by the National Association of Realtors (NAR), the National Association of Home Builders (NAHB) and the Mortgage Bankers Association of America (MBA) - three of the strongest lobbying organization in Washingon, D.C. (FYI: The Realtors are said to be the top lobbyists.) At one point, even Shaun Donovan, Secretary of the Dept. of Housing and Urban Development (HUD) was considering it. But last week, the Senate voted 47 to 50 against lumping Sen. Isakson's … [Read more...] about $15,000 Home Buyer Tax Credit Rejected For Cash For Clunkers Bill