{"id":446759,"date":"2010-03-19T08:39:49","date_gmt":"2010-03-19T12:39:49","guid":{"rendered":"http:\/\/www.foreclosuredeals.com\/wp\/?p=5546"},"modified":"2010-03-19T08:39:49","modified_gmt":"2010-03-19T12:39:49","slug":"filings-and-price-falls-drive-tampa-foreclosure-investing","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/446759","title":{"rendered":"Filings and Price Falls Drive Tampa Foreclosure Investing"},"content":{"rendered":"

Foreclosure filings and price falls are driving Tampa foreclosure investing<\/a>, as lower prices and higher inventories provide opportunities for investors to buy more properties.<\/p>\n

\"Filings<\/div>\n

Foreclosure sale postings and pre-foreclosures in Tampa<\/a> surged in February by 15 percent, despite a slowdown in activity in two of the counties. Total foreclosure filings reached 6,681, which marked a 10-percent rise from the previous month.<\/p>\n

House prices, meanwhile, continued to drop as more foreclosures entered the Greater Tampa market. They fell further year-over-year in January by 8.5 percent. The rate in price drop would have been lower if distressed sales were excluded from the equation.<\/p>\n

In the Tampa-Clearwater metro area, home prices fell in December year-over-year by 11.8 percent.<\/p>\n

Economist Mark Fleming said that it took the state of Louisiana 5 years to recover from its depressed house prices in the 1980s; other states will also take years to recover from the prices pushed down by the crisis. Nationally, home prices have collectively dropped by 28 percent since the start of the housing meltdown.<\/p>\n

People engaged in Tampa foreclosure investing can look at distressed properties in the Sarasota area, as this county posted the highest rate of increase in foreclosures among the Tampa Bay counties. Filings in Sarasota soared by over 39 percent from postings in February 2009.<\/p>\n

Filings also increased in Hillsborough County<\/a> to almost 3,800, an increase of 31 percent compared to filings in February 2009 and a 30-percent rise from the previous month.<\/p>\n

Housing units continued to enter Tampa foreclosure listings<\/a> as the unemployment situation in the area got worse. The unemployment rate in January in the Tampa Bay area shot up to 13.1 percent, a sharp increase from the December rate of 12.4 percent. The increase was even higher if compared to the January 2009 rate of 9.5 percent.<\/p>\n

The Tampa Bay rate was also higher than the statewide rate of 11.9 percent, making the regional and statewide rates much higher than the national rate of 9.7 percent.<\/p>\n

Residents of Florida are still struggling from the upshots of the housing crisis, as businesses kept cutting jobs. In January, the total of non-agricultural jobs in the state dropped to 7,144,300 jobs, marking a loss of 6,100 jobs month-over-month and a loss of a staggering 303,200 jobs year-over-year.<\/p>\n

Notwithstanding the job losses, Tampa foreclosure investing is viable because of the low prices, the availability of distressed properties for sale<\/a> and the strong prospects for recovery.<\/p>\n

Find great investments in other Florida cities:<\/p>\n