Monthly sales at 1,714, a level we haven't seen in Tampa in almost 3 years! Buyers are taking advantage of low prices & rates.

Inventory has fallen to an 8.34 month supply (off a high in January 2008 of 25 months supply).
Our sources inside the banks tell us that the supply of bank-owned inventory has yet to hit its peak. We will continue to monitor the market and keep you informed.

This week (July 20-24) I will be attending a sales seminar along with 4,000 of the nation's top real estate agents. We will be working on the best strategies to keep our clients ahead of the market and get through these tough economic times. No matter what is going on in the market, we are continually educating ourselves to help you reach your long-term and short-term goals.

My wife, and business partner, Maria, will be running the office. I will be checking voicemail and email several times a day. We're always here to serve you, your families, and friends.

Don't forget we have new phone numbers at our new Keller Williams office in the Central Bank Building on Bruce B. Downs Blvd. (See below) While the old numbers will continue to be forwarded to us for a few more months, we want to make sure you are always able to reach us.

Best wishes,
John Hoffman

John and I get asked the question almost daily from our Tampa real estate buyers, from luxury homes to investment property, "We really want a DEAL on a foreclosure...should we be going to the auction to get the best deal?"

The answer to that question is more complex than you might think. For a few willing to put in the hours and weeks of time and research, and the tolerance to put up with the potential frustration of homes coming off the table at the last moment, the answer might be yes. For others, once they understand what it entails, the answer is a resounding NO WAY!

I came across this article in Saturday, July 4th's St. Petersburg Times that explores the issues surrounding buying property at auction, and the obstacles to overcome. If you've ever wondered if you should be going to the auction to buy foreclosure investment property, reading this article would be a good start for your research. Decide for yourself. If you want to avoid the potential pitfalls mentioned in this article, you will probably decide to enlist the help of a professional Buyer's Agent, whose services are customarily paid by the Sellers.

To read the article, go to http://www.tampabay.com/features/homeandgarden/article1015010.ece.

By now you may have heard how new appraisal guidelines are affecting real estate transactions. If you are thinking of buying, selling, or refinancing, you need to be aware of what is going on. We educate our clients so we can help them stay ahead of the market. The link below is a great article that explains the issue well. Click here.

Link: Appraisers attack new HVCC rules