South Tampa is considered one of the BEST areas to live. It’s a hip and trendy neighborhood offering shopping and dinning galore. Seybold Lofts, Located in the Hyde Park Historic District of South Tampa, is a unique loft stlye building, original in character of the 1920’s style brick buildings. In fact, the building was originally the Merita bread factory until it was purchased a few years ago.
Since the developer is now offering financing this means you can buy a condo in South Tampa without having FHA approval!! A struggle for first time home buyers to find in this desirable area of Tampa Bay.
TAMPA — Buying a condominium in today’s market is tough, especially with banks keeping credit for multifamily in virtual quarantine. But one developer of five communities thinks it has the answer: seller financing.
High Point Development of Tampa has offered seller financing quietly as a last resort to buyers since the condo market started to tighten two years ago. Now in an effort to sell out its properties before year-end, the developer is aggressive with the finance option.
The following Development are available for owner financing
Legacy Park,
Monticello City Homes,
Historic Seybold Lofts
Valencia Townhomes and
3405 Swann Citihomes,
The developer says that in most cases you can get 97 percent financing and a 30-year amortized mortgage at just under 5 percent interest. This is .5% less a buyer has to come up with for a downpayment versus FHA financing.
At Seybold Lofts, a converted 1920s bread factory in Hyde Park, higher unit prices created a slightly modified offer with a 30-year fixed mortgage. Click Here for visual tour of the Seybold Lofts
High Point is offering the program using a mix of available capital and some leeway with the developer’s original lender, Hudson said.
Getting that mixture in place isn’t easy for many condo developers still trying to move inventory, and it likely won’t be easy for others to follow suit, said Byron Moger, director of apartment brokerage services for Cushman & Wakefield of Florida.
Selling prices for the High Point communities are about 60 percent of what they were originally intended, Hudson said, but deals are getting done.
At Seybold Lofts, where its 33 units are listing between $209,000 and $499,000, half are sold.
At Legacy Park, where listings are slightly lower, 15 units remain of 97 originally offered. Only six units remain from the other three properties.
For details and pricing give me a call 813 784 7744 or email: realtyrae@yahoo.com
Rae Catanese, PA Real Estate Agent
Heritage Isles, Tampa, Fl
Heritage Isles in Tampa is a golf and country club community located in the very popular and convenient area of New Tampa. Our community has a 5000sqft clubhouse with a restaurant and bar, banquet room, conference room with internet access, fitness center and the locker rooms have saunas. There is also a huge outdoor swimming pool with a large waterpark slide, 4 clay tennis courts, sand volleyball court, childrens playground and picnic area, driving range, golf school and an 18 hole championship golf course.
Here’s the available homes for sale in Heritage Isles:
Hamilton - 2032sqft 4 bdrm, 3 bath, 2 car garage on conservation reduced from $238,990 to $199,990 homesite 0418
Patriot- 2765sqft 4 bdrm, 3.5 bath, 2 car garage and large bonus room on pond and conservation reduced from $276,990 to $239,990 homesite 0508.
These are August closings and we are now putting in hardwood flooring in the formal dining room and crown molding in the master bedroom & formal dining room as long as the home closes by the end of August.
Lennar is contributing up to 6% of the purchase price toward closing costs and buying the rate down to 4.75% on a 30 yr fixed loan with 3.5%down as long as customers use Lennar’s lender.
Why waste your time with a short sale when you can close in 30 days, get a full builder warranty and incentives!
CALL ME TODAY TO SCHEDULE A SHOWING!
Rae Catanese
813 784 7744
Westshore affordable housing receives financing
Tampa Bay Business Journal
Westshore Community Development Corp. has secured construction financing for Westshore Landings, a work force affordable New Construction town home community in Tampa’s Westshore business district.
The Westshore Landings development consists of 57 two- and three-bedroom town homes with garages, ranging in price from $96,000 to $127,000, a release said.
The Westshore Community Development Corp. provides work force affordable housing opportunities in the Westshore business district. The 501(c)3 nonprofit formed in 2005 to promote community development and redevelopment within the area.
If you would like to receive more information on this project and be notified when pre-sales begin send an email to: realtyrae@yahoo.com with the subject Westshore Townhomes
Search all homes, townhomes and condos for sale in the Tampa Bay area. Visit: www.TampaBayDwellings.com
With foreclosures still saturating the market and homebuyer demand remaining tepid, local developers and homebuilders are increasingly offering incentives and using other tactics to sell their new houses and condominium units.
Buyers in the Tampa Real Estate Market are in a great position to buy New Construction because the builders are competing with incentives and they have the ability to close quickly. Short sales have deterred buyers who want to purchase but are getting frustrated waiting. Being able to close quick is a huge advantage in buying something new. Not to mention builder warranties and sometimes even lower interest rates by using a builder’s lender.
Lennar recently offered units at its River Terrace Condominiums at River Strand project for $1,000 or less per month, with financing starting as low as 3.5 percent – about two percentage points below prevailing mortgage rates. The Miami-based builder also included free golf and tennis memberships with each unit sold.
During the second quarter, Lennar’s sales incentives averaged $52,000 per house and those houses were about 12 percent smaller on average, the company said in its quarterly earnings report last month.
A National Association of Home Builders survey released last month found homes started in 2009’s first quarter averaged 2,335 square feet, nearly 300 square feet less than a year earlier.
“That’s the first time that’s happened since 1973,” said Stephen Melman, the association’s director of economic services.
The trend likely will continue for the foreseeable future, as six in 10 builders the trade group surveyed in May said they planned to build smaller houses in the coming year. Only 1 percent said they’re going bigger.
But few expect the downsizing trend to continue after the housing market recovers. The builder association projects home sizes will stabilize around 2,500 feet in the next five years, or about the same as in 2007.
Pat Neal of Neal Communities credits smaller homes and low introductory prices with making the first half of 2009 among his company’s best in 40 years. But he also doubts the downsizing trend will last.
For a list of New Construction Homes in the Tampa Bay area please contact me. 813 784 7744 or email: realtyrae@yahoo.com
Brand New Construction Townhome. No waiting to close, no hassles!
2 Bedrooms
2.5 Bathrooms
1217 Square Feet
$113,635
We help pay buyer closing costs with the use of our lender.
Make it easy, a NEW home with a known closing date, no haggling with offers. One year warranty, certainty and peace of mind!
All appliances included, blinds and alarm
42″ Cherry cabinets in kitchen, tile floors, stain door hardware, master suite with huge closet and dual vanities. Lots of kitchen storage.
North Riverview Location
5 minutes to I-75 and 301
7 minutes to Cross Town Expressway
2 Bedrooms
2.5 Bathrooms
1217 Square Feet
Call us today for an appointment! 813 784 7744 or email: realtyrae@yahoo.com
