Fewer Homeowners in the Sunshine State are Currently Underwater in 3rd Quarter of 2015

With increasing home values and completed foreclosures, fewer mortgage-holding homeowners across the nation are finding themselves underwater.  A home with a loan-to-value ratio greater than 125% would be considered seriously underwater.

In the third quarter of 2014, 28.1 percent of Florida owners with a mortgage were seriously underwater.  One year later, according to RealtyTrac's Q3 2015 U.S. Home Equity and Underwater Report, that number dropped to 23.2 percent.  

Nationwide, the number of homes with high loan-to-value ratios were at the lowest level since 2012. According to Daren Blomquist, Vice President of RealtyTrac, "After a lull late last year and early this year, home sales volume and average sales prices picked up dramatically again the second and third quarters of this year, resulting in a substantial drop in seriously underwater homeowners." 

The share of U.S. homeowners who are seriously underwater and also going through foreclosure in the third quarter also hit its lowest level since the first quarter of 2012.  That number is presently 33.4 percent.  The time to buy is now and I would be happy to assist you!  Call or visit my website.  Keyvan Kohan (727) 565-1658 or www.Suncoasthome.com.

Housing Market A Bargain in Tampa Bay

With a median home price of $175,000, Tampa Bay's housing market is cheaper than other metro areas in the Southeast US.  Higher growth combined with lower prices makes the region an affordable market that is appreciating quickly. This provides a promising opportunity for home buyers especially since mortgage rates remain low.

Orlando's median price is $198,000 while Jacksonville marked $204,500 and Miami-Fort Lauderdale metro market averaged $289,900. The median sale price of homes in Florida's east coast cities between Port St. Lucie and Titusville rose about 20 percent from the previous year.

Certain metro areas are boasting median home prices startlingly high. California cities continued to dominate the list of most expensive markets.  Homes in the Silicon Valley, for example, are commanding a median sales price of $980,000.  That is 5.6 times Tampa Bay's median home prices.

Check out some of the area's best homes for your family. www.Suncoasthome.com

Prepare to Rock This Weekend at the Clearwater Jazz Holiday

In Coachman Park this Thursday through Sunday, visitors to the Clearwater Jazz Holiday can expect a blend of eclectic music. More than 40,000 people rock the area in front of the stage.  The Holiday organizers are planning for it to the be the largest ever.  Drawing a crowd from across the nation to listen to music and watch the sunset in Clearwater, this music event is set to be the best yet.

This year's featured all-star lineup includes Buddy Guy, Sheryl Crow and the Avett Brothers. Through scholarships and educational partnerships, CEO Steve Weinberger helps Bay Area students develop their love of jazz. Children under 12 are free.

Adult tickets begin at $15.  Gates open at 4:00 PM Friday and 2:00 PM both Saturday and Sunday. Don't forget a lawn chair, blankets and sunscreen.

Drop me a line if you are going to make there anytime this weekend.  Keyvan Kohan, ReMax Metro Kkohan@Remax.net

There Is No Time Like The Present To Borrow

Low interest rates make it the best time in recorded history to borrow money, according to Bank of England's chief economist Andy Haldane.  They are lower now than they were in the days of FDR, Napoleon and Julius Caesar.  They are even lower than any time since the ancient Sumerians made loans using grain or silver. During the Great Depression, rates dipped almost down to zero.  In the United States, United Kingdom, euro zone and Japan rates are all-but-zero.

Why now?  It could be the combination of an aging economy that doesn't require as much investment as before and a global economy that just came out of crisis.

Trends seem to accelerate now so interest rates at or close to zero could be around for a while.  If Sweden can be used as example, rates move down into negative numbers before edging back into positive territory.

Borrow now and invest in Tampa Bay real estate.  For professional advice, contact Kohan & Associates at 727-565-1658 or visit our site at www.Suncoasthome.com.