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| Photo courtesy of Bay News 9 |
Check out the full story on Bay News 9.
Showing posts with label Local News. Show all posts
Showing posts with label Local News. Show all posts
Sunday, July 25, 2010
Trinity Hospital Nearing Completion
Check out the full story on Bay News 9.
Thursday, June 24, 2010
Strategic Default will get you "locked out" by Fannie Mae
In a strategic move, some homeowners have decided to walk away from their homes even though they could still afford the payments. They simply decide that their value is too low and they either short sale or allow the bank to foreclose.
Fannie Mae, making a clear statement, announced Wednesday that they will "lock out" borrowers from getting new loans for seven years if they "strategically default" on their loan. Typically, if a person does a short sale then they can't purchase for two years. Fannie Mae is hoping this step will discourage homeowners from walking away from their home because of equity loss.
The Tampa Bay market has seen it's share of equity loss with some homes losing as much as 50%. I can understand the thinking behind why people "strategically default" but I don't think they realize how much it hurts the market. When I say it hurts the "market", I'm referring to your neighbors, family, friends and anyone else that owns a home in the area. That one person that "strategically defaults" brings down the value of all the others who choose not to default.
Please take a moment to read the Wall Street Journal article regarding Fannie Mae's "lock out" plan as well as how their trying to help the homeowners that truly can't afford their mortgages.
Fannie Mae, making a clear statement, announced Wednesday that they will "lock out" borrowers from getting new loans for seven years if they "strategically default" on their loan. Typically, if a person does a short sale then they can't purchase for two years. Fannie Mae is hoping this step will discourage homeowners from walking away from their home because of equity loss.
The Tampa Bay market has seen it's share of equity loss with some homes losing as much as 50%. I can understand the thinking behind why people "strategically default" but I don't think they realize how much it hurts the market. When I say it hurts the "market", I'm referring to your neighbors, family, friends and anyone else that owns a home in the area. That one person that "strategically defaults" brings down the value of all the others who choose not to default.
Please take a moment to read the Wall Street Journal article regarding Fannie Mae's "lock out" plan as well as how their trying to help the homeowners that truly can't afford their mortgages.
Monday, May 24, 2010
What would happen if a hurricane hit the oil slick in the Gulf?
While we here in Tampa Bay sit wondering when and if the oil is going to hit our coast, MIT hurricane experts are concerning themselves with another scenario which could have even worse consequences. What would happen if a hurricane hit the oil slick in the Gulf? With hurricane season upon us and no end in sight to the BP oil disaster, this is a very real possibility.
Check out this article to find out the different scenarios and how they play out.
What would happen if a hurricane hit the oil slick in the Gulf? - By Chris Mooney
Check out this article to find out the different scenarios and how they play out.
What would happen if a hurricane hit the oil slick in the Gulf? - By Chris Mooney
Friday, May 14, 2010
The GOP Convention Comes to Tampa - Why Do You Care?
Why should you care that the Republican National Committee has decided to bring their convention to Tampa? Jobs and money!!!
The convention will bring approximately 40,000 visitors to the Tampa Bay area and potentially provide an economic impact of nearly $170 million. The best part is that none of the funding for this will come from local funds.
The Tampa Bay Business Journal give a little more insight on the Convention details in this article Finally! GOP Conventions Comes to Tampa.
The convention will bring approximately 40,000 visitors to the Tampa Bay area and potentially provide an economic impact of nearly $170 million. The best part is that none of the funding for this will come from local funds.
The Tampa Bay Business Journal give a little more insight on the Convention details in this article Finally! GOP Conventions Comes to Tampa.
Friday, October 09, 2009
Pasco considers parking fines for blocking sidewalks
The Pasco County Commissioners are considering imposing parking fines for any cars blocking a portion of a sidewalk. This includes parking in your own driveway. The fine being considered is $15 for the first offense and $30 for future offenses.
I understand the reasons behind the suggested amendment; however, what if someone wishes to have a gathering at their house? You will get ticketed for parking in the road so you try to fit all the cars you can in your driveway. These cars will of course be blocking the sidewalk. What is a person to do?
The proposed amendment comes back for a final hearing on November 3.
For more info please read the article published by the St. Pete Times.
I understand the reasons behind the suggested amendment; however, what if someone wishes to have a gathering at their house? You will get ticketed for parking in the road so you try to fit all the cars you can in your driveway. These cars will of course be blocking the sidewalk. What is a person to do?
The proposed amendment comes back for a final hearing on November 3.
For more info please read the article published by the St. Pete Times.
Thursday, July 02, 2009
Prudential Tropical Realty turns to Yesner & Boss for legal help
With short sales and foreclosures making home buying a bit tricky, 15 Tampa Bay offices of Prudential Tropical Realty have signed an agreement with law firm Yesner & Boss to represent clients of the real estate agency.
Financial terms were not disclosed.
The St. Petersburg real estate and bankruptcy law firm will provide corporate counsel for Prudential Tropical offices all over the Tampa Bay region including St. Petersburg, Temple Terrace, Brandon and the Pinellas beaches, according to a release. Realtors will refer clients to the firm who need help with foreclosure defense, short-sale negotiations, asset protection and consumer protection.
“The goal of Yesner & Boss and Prudential Tropical is the same, to help property owners sat in their homes and work their way out of mortgage difficulties to which the current market is subjecting a lot of people,” said Christopher Boss, a partner with Yesner & Boss, in a release.
There are nearly 60,000 homes in foreclosure in Florida, according to Yesner & Boss, and the Tampa Bay region is one of the mostly heavily beset by foreclosures and short sales.
“While there are signs of life flickering in the residential real estate market, it is a long way from flourishing,” Boss said. “And improvement will not be significant until foreclosures return to normal numbers and the backlog of foreclosed properties is cleared. There is, unfortunately, still a lot of work to be done out there.”
Prudential Tropical Realty first opened 50 years ago and now has offices in Pinellas, Hillsborough, Pasco and Hernando counties.
Yesner & Boss was founded in 2004, according to the firm’s Web site, and specializes in real estate, foreclosure defense, bankruptcy, evictions, and corporate planning and probate.
Courtesty of Tampa Bay Business Journel
Financial terms were not disclosed.
The St. Petersburg real estate and bankruptcy law firm will provide corporate counsel for Prudential Tropical offices all over the Tampa Bay region including St. Petersburg, Temple Terrace, Brandon and the Pinellas beaches, according to a release. Realtors will refer clients to the firm who need help with foreclosure defense, short-sale negotiations, asset protection and consumer protection.
“The goal of Yesner & Boss and Prudential Tropical is the same, to help property owners sat in their homes and work their way out of mortgage difficulties to which the current market is subjecting a lot of people,” said Christopher Boss, a partner with Yesner & Boss, in a release.
There are nearly 60,000 homes in foreclosure in Florida, according to Yesner & Boss, and the Tampa Bay region is one of the mostly heavily beset by foreclosures and short sales.
“While there are signs of life flickering in the residential real estate market, it is a long way from flourishing,” Boss said. “And improvement will not be significant until foreclosures return to normal numbers and the backlog of foreclosed properties is cleared. There is, unfortunately, still a lot of work to be done out there.”
Prudential Tropical Realty first opened 50 years ago and now has offices in Pinellas, Hillsborough, Pasco and Hernando counties.
Yesner & Boss was founded in 2004, according to the firm’s Web site, and specializes in real estate, foreclosure defense, bankruptcy, evictions, and corporate planning and probate.
Courtesty of Tampa Bay Business Journel
Tuesday, March 03, 2009
Land O' Lakes Developer Is Looking For A Lifeline
DADE CITY - Summit View is 135 acres of dirt and weeds on the west side of Dade City. Zoned for more than 400 homes, it stalled years ago when Pasco County's housing market collapsed.
So imagine the surprise at city hall when the developers strolled in and told planning officials they were ready to move forward.
"They came into our office in December and said they wanted to resubmit the plat for approval," City Attorney Karla Owens said. "They said they're going to start building soon, and they think they can sell houses up there."
City commissioners approved the plat, but they likely will be waiting years before any new homes pop up on Happy Hill Road.
Getting the plat approved was a strategic move by developer Douglas Weiland to get a cash infusion for his beleaguered company, JES Properties. JES has a $19.4 million contract with Standard Pacific for Summit View.
"One of my contractual obligations was to get the plat approved," Weiland said. "Standard Pacific had a deadline to make a milestone payment in March."
During Pasco's real estate boom, the former spinal surgeon bought hundreds of acres of empty land, from Odessa to east Pasco, for development.
He borrowed heavily, planning to sell the land quickly to other builders. When the real estate bubble burst, though, and the banking industry collapsed behind it, Weiland found himself mired in debt with few options for getting out.
Weiland received a foreclosure notice Thursday for Ashley Glen, a 260-acre site at State Road 54 and the Suncoast Parkway where he planned to build a 1.8 million-square-foot office complex supporters see as a magnet for high-wage employers.
He has virtually abandoned a residential project south of Zephyrhills on U.S. 301 and another north of Plant City in Hillsborough County.
Now, Weiland is banking on contracts with homebuilder Standard Pacific and apartment builder Wood Properties to provide a lifeline for his company, despite the fact that residential developers have walked away from him before.
Read the rest of the story...
Courtesy of TBO.com
So imagine the surprise at city hall when the developers strolled in and told planning officials they were ready to move forward.
"They came into our office in December and said they wanted to resubmit the plat for approval," City Attorney Karla Owens said. "They said they're going to start building soon, and they think they can sell houses up there."
City commissioners approved the plat, but they likely will be waiting years before any new homes pop up on Happy Hill Road.
Getting the plat approved was a strategic move by developer Douglas Weiland to get a cash infusion for his beleaguered company, JES Properties. JES has a $19.4 million contract with Standard Pacific for Summit View.
"One of my contractual obligations was to get the plat approved," Weiland said. "Standard Pacific had a deadline to make a milestone payment in March."
During Pasco's real estate boom, the former spinal surgeon bought hundreds of acres of empty land, from Odessa to east Pasco, for development.
He borrowed heavily, planning to sell the land quickly to other builders. When the real estate bubble burst, though, and the banking industry collapsed behind it, Weiland found himself mired in debt with few options for getting out.
Weiland received a foreclosure notice Thursday for Ashley Glen, a 260-acre site at State Road 54 and the Suncoast Parkway where he planned to build a 1.8 million-square-foot office complex supporters see as a magnet for high-wage employers.
He has virtually abandoned a residential project south of Zephyrhills on U.S. 301 and another north of Plant City in Hillsborough County.
Now, Weiland is banking on contracts with homebuilder Standard Pacific and apartment builder Wood Properties to provide a lifeline for his company, despite the fact that residential developers have walked away from him before.
Read the rest of the story...
Courtesy of TBO.com
Tuesday, February 03, 2009
Would you move to Land O' Lakes for $15 million?
State officials have approved up to $15 million in incentives in an effort to persuade T. Rowe Price to move to Land O' Lakes. If the financal services giant takes the state up on their offer they would eventually move 1,560 full-time jobs to the 95-acre site just east of the Suncoast Parkway by 2012.
Currently, T. Rowe Price has 425 employees working out of leased facilities in Tampa. T. Rowe Price is looking to move to a new location when its lease on the Tampa location expires.
T. Rowe Price has not yet made a final decision on where it will locate but the Land O' Lakes location is one of five they are considering. The other locations are in Houston, Omaha, St. Louis and Tulsa.
Currently, T. Rowe Price has 425 employees working out of leased facilities in Tampa. T. Rowe Price is looking to move to a new location when its lease on the Tampa location expires.
T. Rowe Price has not yet made a final decision on where it will locate but the Land O' Lakes location is one of five they are considering. The other locations are in Houston, Omaha, St. Louis and Tulsa.
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