Law Offices of Timothy G. Hayes, P.A. - "Service to Community"   (813) 949-6525

Recent Posts

2014 Real Estate Trends...Who Really Knows?
2014 Real Estate Trends...Who really knows?
Tampa Bay 4th in Foreclosures in US
2013 Year of the False Real Estate Bubble?
Real Estate Trends 2013


2011 Negative Trends Continue
2011 Real Estate Trends
2012 Real Estate Trends
2013 Real Estate and Business Trends Locally
2013 Real Estate Trends
2013 What's Ahead?
2014 Real Estate Trends
Small Business
Wills, DPOAs & Living Wills
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2014 Real Estate Trends...Who Really Knows?

I have spent the first several months of 2014 trying to determine what trends in the Tampa Bay area would begin to materialize.  Month after month things remained pretty stagnate throughout 2014.  For example the number of homes being put on the market for sale showed a slight increase over the first several months of 2014 but actual home sales stayed relatively flat during the same period. 
Foreclosures still are having a big impact on the overall real estate market throughout the Tampa Bay area.

2014 Real Estate Trends...Who really knows?

Tampa Bay 4th in Foreclosures in US

RealtyTrac in February of 2013 listed the Tampa Bay area as having the nation's fourth highest foreclosure rate.  Guess where the next three higher foreclosure areas are located?  They were all in Florida with Miami in 1st, Orlando in 2nd and Ocala in 3rd. Of the top ten  hardest hit cities in the nation for foreclosures seven are located in Florida! Needless to say Florida still leads the nation with the highest foreclosure rate.
The Tampa Bay Times' staff writer, Drew Harwell reported on March 14, 2013, that data shows that over "5,000 notices of mortgage default, foreclosure auction or repossession were sent across Tampa Bay last month,

2013 Year of the False Real Estate Bubble?

Throughout the Tampa Bay Area it is being widely reported that residential real estate sales and prices are inching upward in 2013.  Some newspapers have even labeled it a "Seller's market".  A closer look reveals some interesting facts that don't bode well for a stable residential real estate market.  Our market was heavily over built from 2003-2006 and we later found out that a lot of the home buyers were actually investors looking for quick profits.  It got so crazy that investors were selling and re-selling to other investors and prices just kept skyrocketing ever higher.

Real Estate Trends 2013

While the rest of the United States shows signs of recovery from the residential foreclosure situation, Florida has now taken the lead as the number one state for residential real estate foreclosures and the Tampa Bay Area remains in the thick of things. With the recent nationwide settlement of robo-signing and lack of proper documentation for mortgage assignments having been resolved in some cases through class action settlements with the Attorney Generals of many states (Florida included), it appears that many of the foreclosure proceedings that have been languishing in the court system for years will now move forward to conclusion.

2013 What's Ahead In Real Estate and Small Business

As the New Year dawns is there really much positive news ahead in real estate and small business or is it more of the same that we have experienced over the last several years?  I'm afraid the answer to that question seems to be more of the same and perhaps even worse news ahead in 2013.  Don't read me wrong, I wasn't a Romney supporter so I don't lament the outcome of the recent Presidential election as all doom and gloom; to the contrary, I have often been called a perpetual optimist.

Small Business Tips in Hard Economic Times

Small Business Tips in These Hard Economic Times:
1.  Discounting your pricing does not always result  in jump starting the
spending of your customers.  To the contrary, it often makes them decide
to wait for deeper discounts or question why your prices were higher to
begin with.  Better solution:  Find ways to reduce your costs or overhead
and then pass on the savings to your customers in reduced pricing and
explain to them how and why you are able to reduce your pricing;

Get Your House In Order

Write your post here.Get Your House In Order.
During these hard economic times it is wise to take a moment and organize ones personal life.  Whether a young adult just starting off in life, a middle aged adult planning for the future, or a senior anticipating retirement it is always important to get your personal life in order by obtaining a Will, Durable Power of Attorney and Living Will. 
As a young adult dealing with mortgages, marriage, child raising,...etc. it is so very important to plan ahead and make sure that you provide properly for your family, especially in the event you are not there to provide for them.

2012 Real Estate Trends

As we enter 2012 the local real estate market has still not shown any real positive signs of the start of a recovery.  Real estate prices remain low as the result of continued foreclosures and short sales.  Mortgage rates remain at all time lows yet it remains very difficult for individuals and families to qualify for these low rates as a result of negative credit ratings and the requirement of substantial cash down payments.
Cash buyers stand to make a killing in this real estate market as banks and mortgage companies continue to unload foreclosures and approve substantial discounts for short sales.

Real Estate: Light at the End of the Tunnel

A client recently commented to me that he can finally see the light at the end of this long dark real estate tunnel; the only problem is that the light is from an oncoming freight train!  That pretty much describes the state of the current local real estate market.  While sales may be up prices remain down and foreclosures persist.  Its a buyer's market and a seller's nightmare.  Even with a reduction in local county impact fees for new homes, new home builders still can't hope to compete with the foreclosure resales and short sales.
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