This guide will cover the Tampa housing market and mortgage options available for homebuyers. Most realtors in the Tampa, Florida area have worked with the team at Gustan Cho Associates. Most mortgage loan originators who do a lot of business in the Tampa, Florida and its surrounding areas is familiar the presence the team at Gustan Cho Associates has in the Tampa housing market. Our loan officers is always on top of the Tampa real estate market and knows every subdivision as well as the latest comparable. Most real estate agents in Tampa assist both home sellers and home buyers and has the backing and support of Gustan Cho Associates. In the following paragraphs, we will cover the Tampa housing market and mortgage options for homebuyers and homeowners.
Tampa Housing Market
Homebuyers and sellers alike would benefit from the guidance of an experienced realtor because the Tampa housing market remains one of the strongest. Tampa continues to have highly appealing and valued neighborhoods covering great school districts paired with a vigorously encouraging economy, making it a jewel in Florida. Whether you want to buy a house for the first time in your lifetime or sell a property you had before used, partnering with an experienced realtor in the area is a must. It is important to note that not only do realtors assist you in selling and buying, but people are actively seeking mortgage loan packages, which is equally as important to incorporate.
Familiarizing Yourself With the Tampa Housing Market
Tampa has a variety of neighborhoods, meaning other distinguishing factors, such as price points, need to be considered. Established businesses must keep up with recent sales, comparable properties, and current market conditions. Pricing and selling comprise a huge portion of a highly competitive landscape, and correctly pricing property often leads to strong sales.
Undoubtedly, getting the house pricing right at the offset is essential. The first 30 days after listing are incredibly important because potential buyers need to be hooked immediately. Overvalued homes tend to be pulled down in value, resulting in a loss of worthwhile opportunities. With the right market analytics and appraisals, sellers achieve the best sales price, most notably by hiring professionals.
As for the buyers, Tampa’s housing market does have a range that includes starting homes and even luxury ones. Having a reliable friend help while acquiring the home does not hurt.
Hiring Your Real Estate Agent Familiar in the Tampa Housing Market
If you are a homeowner in Tampa and are thinking of selling your home:
- Choose a reputable experienced real estate agent as your real estate professional
- Your real estate agent should be aware of every property that sells and keeps track of the most recent comparables and does his own analysis on the value of a home
- Experienced realtors in Tampa knows of dozens of appraisers who are active in the Tampa area and are always on top of new listings of homes as well as homes that sell.
- Real estate agents can help homeowners planning to sell their homes in pricing their homes right the first time around so they can get top dollar
- Pricing a home the right price the first time is extremely important because the first 30 days a home is on the market is the most crucial time in getting the right offer
- There should be no reason that a home in Tampa should not sell in a period within 30 days from the time it is listed
- Many times home buyers will notice that a home is on the market for months and there are many price reductions.
- This is what happens if the listing realtor does not price the home correctly the first time
With a preferred partnership with Gustan Cho Associates, most loans will close in 21 days.
Assistance Available for Homebuyers in Tampa Housing Market
Working with a real estate professional knowledgeable in the housing market and mortgage loan programs is vital for a seamless home-buying experience. They possess a network of referral partners, which include credit repair experts, real estate lawyers, home inspectors, and even lenders.
For instance:
- Buyers struggling with credit can contact enhancers focusing mainly on acquiring low-rate mortgages.
- Non-warrantable condo loan seekers can also receive specialized assistance based on their specific requirements.
Like other lenders, Gustan Cho Associates assists high-net-worth clients in acquiring low-jumbo loans with unreasonably small down payments. There are several available resources in Tampa for those with unique financial circumstances who have recently declared bankruptcy or even foreclosure.
Having Experienced Buyers Loan Officer and Realtor
Gustan Cho Associates are experts in working with first time home buyers :
- Your real estate agent should understand the fears the first time home buyers have and takes time in explaining the whole overall home purchase process to not just first time home buyers, but home buyers
- Your real estate agent should be extremely knowledgeable not just in real estate but lending and the mortgage process as well
- Your realtor should have a database of referral partners from mortgage lenders, credit repair consultants, real estate attorneys, insurance agents, title companies, home inspectors, appraisers, and other real estate-related professionals
- For example, your realtor should be able to refer a borrower who has bad credit to a mortgage lender who has no lender overlays and specializes in bad credit mortgage loans
- If a home buyer needs a non-warrantable condominium financing, your realtor should have a list of expert mortgage lenders.
- Your realtor should have the right lender that can help the home buyer in need of a particular type of loan
- If you are a home buyer looking to purchase a high-end home but only want to put a 10% down payment
If you had a recent foreclosure or bankruptcy and want to purchase a home and do not want to wait for the mandatory waiting period after foreclosure and/or bankruptcy, your realtor should be able to steer you to Gustan Cho Associates.
Rapid and Time-Saving Loan Closures
Gustan Cho Associates, for example, works with lenders who specialize in rapid closing processes, easily closing loans in under 21 days. Their services also include having no lender overlays with USDA, FHA, and VA loans and providing highly sought-after rates on jumbo mortgages and non-QM options.
Let’s Start the Pre-approval Process Today
If you are looking into the Tampa housing market, now is the best time to take the next step. Get pre-approved for a mortgage to start your path to locating the home of your dreams. Whether buying or selling, working with the right team makes the process much easier and more efficient.
If you want to learn how to navigate the Tampa housing market confidently, call Gustan Cho Associates at +1 800-900-8569 or email gcho@gustancho.com. We will provide you with information regarding the available loan programs.
Frequently Asked Questions: Tampa Housing Market
How is Florida’s Tampa housing market performing today?
Demand in the Tampa housing market remains high, while some places experience low supply, leading to intense competition. The last few years have seen steady house price growth, but sellers and buyers can still benefit from great market conditions.
Should I buy a property from Tampa Housing Market?
Certainly, Tampa is among the top-rated cities for real estate investment. The city has great job opportunities, a growing population, and a strong economy. Thus, it is among the most preferred cities for rentals and flip properties, especially in Tampa’s expanding suburbs.
What is the Tampa housing market like?
Tampa offers a wide range of properties, including single-family homes, condos, townhouses, and villas. You can also buy newly built houses or renovate used homes.
What is the average market value of a home in Tampa Housing Market?
Remember that while some neighborhoods feature relatively inexpensive housing and affordable prices of at least $380,000, others may have luxury housing starting well over $1 million. The median home price greatly varies depending on Tampa’s subdivision.
Which lenders offer mortgage loans in the Tampa Housing Market?
Gustan Cho Associates has a national presence including Tampa, Florida. Some mortgage loans available for Tampa buyers include:
- FHA Loans are tailored for first-time homebuyers.
- VA Loans are available for veterans and active military.
- USDA Loans are offered for suitable rural housing.
- Conventional Loans are designed for buyers with good credit history.
- Non-QM loans are made for the self-employed or those in non-standard financial situations.
Do mortgagors in Tampa Housing Market provide homebuyer assistance programs for first-time buyers?
Yes, Gustan Cho Associates has many different types of first-time homebuyer programs. Various lenders also have first-time homebuyer programs, including but not limited to down payment assistance, lower credit thresholds, and attractiveness. Among first-time borrowers in Tampa, programs of this type, including FHA loans, attract a lot of interest.
Which Tampa neighborhoods are considered most suitable for families?
Family-friendly areas such as Westchase, Carrollwood, and New Tampa in Tampa are abundant. Great schools, parks, and community amenities are present in these areas.
Compared to other cities in Florida, how does Tampa Housing Market fare as a home to a potential homebuyer?
Compared to other major cities in Florida, such as Miami or Orlando, Tampa is more affordable. Even though prices are on the rise, the city still offers a range of options for different budgets.
How do property taxes in Tampa work?
Property taxes in Tampa are generally moderate compared to other areas. However, homeowners can save money on property taxes if they utilize Florida’s Homestead Exemption and the property is their primary residence.
How fast can homes close in Tampa?
Locals can close on homes in Tampa fairly quickly, especially with lenders like Gustan Cho Associates, who tend to close loans in as little as 21 days. With proper preparation and the help of an expert team, the entire process can be expedited.
What should I be cautious about when purchasing a house in Tampa?
When buying a home in Tampa, consider its location, the school district, nearby amenities, the property’s condition, and the potential increase in value. A good realtor can help you with your decisions.
Are there loans available for people with poor credit in Tampa?
Yes, buyers in Tampa with bad credit still stand a chance of getting home loans. Those with lower credit scores or unique financial situations are great candidates for FHA loans and non-QM loans.
Can I buy a non-warrantable condo in Tampa?
Some lenders provide loans for non-warrantable condos, so purchasing and financing them in Tampa is possible.
When is the ideal time to buy a property in Tampa Housing Market?
This often greatly depends on personal matters. However, the late fall and winter months are less competitive and offer better deals than spring and summer, which offer more listings.
What steps do I need to take to move to Tampa?
As for buying a home in Tampa, you need to:
- First, try to view your credit score and fix the problems (if there are any).
- Seek for a mortgage pre-approval.
- Set a budget alongside your preferred location and adhere to it.
- Employ a knowledgeable real estate agent.
These are some frequently asked questions aimed at clarifying the Tampa housing market.
The Team At Gustan Cho Associates
The team at Gustan Cho Associates has Tampa Realtor Robert Leonard as its preferred realtor partner. Gustan Cho Associates is a five-star national lender licensed in multiple states with no lender overlays on government and conventional loans.
Mortgage Options in the Tampa Housing Market
Mortgage options are now available for buyers in Tampa. Although getting a mortgage may seem daunting, Tampa buyers have various options to suit their needs. Whether you are eyeing your first home, a luxurious estate, or even a refurbished abode, there’s a mortgage program for you.
Gustan Cho Associates has a national reputation for closing loans in 21 days and offers the following loan programs:
- FHA Loans credit scores down to 580 FICO and no overlays
- VA Loans credit scores down to 580 FICO and no overlays
- USDA Loans credit scores down to 580 FICO and no overlays
- Conventional Loans with no overlays
- Jumbo Mortgages
- Reverse Mortgages
- FHA 203k Loans
- Non-QM Loans such as no waiting period after foreclosure, deed in lieu, and short sale.
Gustan Cho Associates also offers Jumbo Mortgages with a 10% down payment.
Let’s Get a Pre-Approval Letter & Go Write Some Good Offers!! Robert Leonard, with Future Home Realty, Inc, at Your Service. Robert Leonard will help you move forward & receive a nice home! Contact Tampa Realtor Robert Leonard at (941) 400 – 2833, or Robert@HomeSeminar.Info.
- How many Beds & Baths, & what areas you want to live in?
- How soon you want to move, & when can you look at homes? (For Homes that request Appointments)
- What is your price range, & other special requirements such as Prefer Certain School Districts?
- Is HOA Acceptable?
- Minimum Size Square Feet?
- Is Pool/Club House/ Gym Required?
To get pre-approved, contact us at Gustan Cho Associates at 800-900-8569 or text us for a faster response. Or email us at gcho@gustancho.com.
