January 14, 2010

GTAR has released their December statistical data.  The average residential sales price decreased slightly in December to $170,881 and the number of residential sales increase to 1,464.  The government program for first time home buyers seems to be helping as entry level homes priced under $200,000 made up 74.86% of the sales in 2009.

Total Residential Sales

Total Residential Sales represents the number of closed sale transactions as reported through the MLS for single family homes, townhomes, condominiums, and villas.  As noted on the GTAR website, these figures do not represent private sales or new construction sales unless entered into MLS.  This is only one of many available indicators, but taken consistently over time, provides a good view of residential market activity.

Average Residential Sales Price

The Average Residential Sales Price represents the average sales price of closed residential sale transactions as reported through the MLS for single family homes, townhomes, condominiums, and villas.  As noted on the GTAR website, these figures do not represent private sales or new construction sales unless entered into MLS.  This is only one of many available indicators, but taken consistently over time, provides a good view of residential market activity.

Please click the link below to access a pdf file with the data and graphs.

December 2009 Market Activity Data and Graphs

Monthly Foreclosure Activity

The first public notice of a foreclosure is the recording of a legal document called the Lis Pendens.  This typically happens after the homeowner has missed about 3 mortgage payments.  The Final Judgment of Foreclosure is recorded next, detailing the amount owed including principal, past due interest, fees, etc.,  Finally the foreclosure sale is held.  The winning bidder at the foreclosure sale, or the foreclosing lender if no one bids, acquires title via the next recorded document, the Certificate of Title.  This process takes about 8 months, barring any delays.  Because lenders are not really in the business of owning real estate, they will now attempt to sell this REO (Real Estate Owned) property and move it off their books, often times at deeply discounted prices.

Please click the link below to access a pdf file with the data and graphs.

December 2009 Foreclosure Activity in Hillsborough County 

Rob Young
Benefit Title Services, LLC
212 S. Magnolia Ave.
Tampa, FL 33606
Phone: (813) 251-1420
Toll Free: 800-237-9190
Fax: (813) 251-1454
RYoung@BenefitTitle.com
www.BenefitTitle.com