Tampa Homes Best Buys Blog

A new problem is appearing in the real estate business. Renters that have been living in or are moving into rental homes are finding out that their landlords have not been making the mortgage payments.

You may find your family unexpectedly being evicted through no fault of your own—your only mistake was renting a house that was in default.

I recently took over management of a house from a REO asset management company. I was asked to verify if it was occupied. I stopped by one evening and saw a young couple carrying an infant in a baby carrier up to the door. They were renting the house and had just moved in a couple of months before. I had the unfortunate experience of telling them that the house was in default and they were going to be evicted.

If there is an answer to this problem, it must be that you before you rent a house, check public records to see if a lis pendens has been filed. Even that is no guarantee because that document could be filed the day after you move in. And no one has permission to discuss a person’s mortgage without having the owner’s authority in writing.

Eventually renters are going to have to check out landlords to the same extent as the landlords go to for renters. I see an opportunity here for an entrepreneur to set up a service to help renters in this situation. Somehow the rights of the renters need to be protected.

Janet Montano
Remax Realty Associates
813-956-3563

www.TampaHomesBestBuys.com
www.HomeandIncomeRealty.com

Good news! Tampa home prices rose an average of $2,000 in June. And slightly more single family homes sold in June versus May. These are the latest facts from the Florida Association of Realtors. The median price was $178,799 up from $176,100 in May.

I’m a Realtor in Hillsborough county and have seen first time home buyers coming out in droves. One house a client put an offer on had 4 offers in total on it. It amazes me that investors have been scared away from buying but first time home buyers have bravely ventured into the market. The savvy ones know that this is a great time to buy…..sorry sellers!

With Florida being the 4th highest state in the nation for foreclosure filings, it makes sense that prices have fallen and housing is once more becoming affordable. A few years ago I couldn’t find hardly any nice homes around $150K but today they are in great supply. I encourage anyone who has waited to buy to contact their Realtor and get started. Loans are still available. Especially attractive right now is the FHA loan. I have a good loan agent if you’d like to find out what you qualify for.

I’d like to hear from some first time home buyers as to what motivated you to start the buying process right now.

813-956-3563

jmontano@janetmontano.com

www.TampaHomesBestBuys.com

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For a complementary competitive marketing analysis of your property, send an email to jmontano@janetmontano.com