ForeclosureDeals offers a solid database of Tampa bank owned foreclosure homes and Tampa government foreclosed homes for sale from federal agencies such as: HUD, VA, FHA, Freddie Mac, Fannie Mae, USDA. These Tampa repossessed homes can be found in a number of ways, such as pre foreclosures, short sales, foreclosure auctions, flipping homes, bankruptcies and home foreclosures for sale in Tampa, FL. Our up-to-date real estate foreclosure listings in Tampa offers cheap distressed properties for buying & investing, in a great variety of properties like commercial & residential, multi & single family homes, lands, condos and apartment foreclosures in Tampa area.
Oodles of sun and fun. Throw in an awesome nightlife, a bustling downtown business area and incredible real estate opportunities and you just cant think of reasons not to buy! Home to amazing professional sports teams and numerous accredited state and local universities, Tampa offers amazing chances to buy cheap foreclosures on nice single family homes, apartments or condos for sale. Investing in commercial property might, also, be an option in a city where numerous deals are just waiting to be had by the savvy, well informed investor. Take advantage of these opportunities and start searching for foreclosed homes for sale in Tampa, FL now!
Metropolitan areas are the wave of the future when it comes to hot real estate prospects, primarily because they offer unbeatable amenities, services, employment opportunities, and cultural attractions combined with ideal locations and increasing growth. This combination makes a metro area the first place any investor should look to when searching for new real estate opportunities.
Tampa, Florida is one such city that offers an exciting blend of entertainment, recreation, tourism, and industry. Tourism in particular is the most important industry for the local area, which attracts 13-14 million people per year. Some of the most notable tourist attractions include Busch Gardens Tampa Bay, the Florida Aquarium, the Gasparilla Pirate Festival, several water parks, numerous outdoor recreational areas, a vibrant nightlife, and three professional sports franchises (baseball, football, and hockey). Tampa is also a thriving hub of transportation and shipping, owing to its prime location on the coast. Additionally, strong retail, finance, and real estate sectors in the city add to its economic strength.
For these reasons, Tampa is annually one of the fastest growing cities in the state for most demographics and features a metro area population of over 4 million.
Median home prices in the greater Tampa area (including Tampa and Sarasota) generally range from $91,000 to $93,000. Value per square foot in the area hovers around $71, which is very undervalued when compared to other metro areas of similar populations. Around 47.5-48% of homes in Tampa are sold for a loss; the rest are sold for a gain or break even. Foreclosure rates in Tampa itself are lower on average than the rest of the state, but the metro area's rate is typically higher on average than the national rate.
When choosing the best areas for investment in Tampa, investors should place more focus on areas that are centrally located, relatively free from foreclosures, and loaded with profit potential (particularly areas that are undervalued). Based on these metrics, these areas and neighborhoods include Beach Park Isles, Culbreath Isles, Davis Island, Hyde Park, Lake Magdalene, Northeast MacFarlane, Old West Tampa, Palma Ceia, Palma Ceia West, Port Tampa City, Stoney Point, South Nebraska, and Sunset Park.
Lake Magdalene and surrounding communities (like Village of Tampa, County Grove, and Vieux Carre) not proximate to downtown Tampa, but are easily accessible via the interstate system and are in relative close proximity to the University of South Florida.
Florida's foreclosure process is similar to other judicial foreclosure only states, like New York and New Jersey, in that the courts must approve all cases - a process which takes a significantly long time (over two years, in the case of Florida). In Hillsborough County, the county in which Tampa is located, the Clerk of Circuit Court handles foreclosure cases. Specifically, the Circuit Civil Department is the sub-office tasked with overseeing foreclosure sales in that jurisdiction. It holds sales every weekday from 10 AM to 2 PM in the county courthouse. A good faith deposit of 5% of the final bid must be placed with the Clerk before bidding can be finalized. Other than that, the foreclosure process proceeds the same way in Tampa as it does in other cities in Florida; namely, a judge rules on the merit of the foreclosure proceeding after a lis pendens filing has been filed following a default.