It’s sold. . .finally. The late Bijan Pakzad’s Beverly Hills estate, coined the “gaudy mansion” for its clashing interior style and mustard yellow paint, is officially off the market. An undisclosed buyer paid $9.8 million for the 6 bedroom, 12 bath, 22 car garage, 12,000 square foot home. It took 10 months and 140 private showings to sell the “gaudy..

The planned bike trail linking St. Petersburg to Titusville was included in the budget passed last week by the Florida Legislature. The $50 million paved trail, coined the Coast to Coast Connector, will entail building 72 miles of new bike paths to connect the 200 miles of paths that already exist. Florida lawmakers are banking that this investment will translate..

Distressed property sales, such as bank-owned homes and short sales, declined to 21 percent in March according to data released from the National Association of Realtors. This percentage is almost half of the number of distressed sales from two years ago which was approximately 40 percent in March 2011. “This is great news for sellers as we experience a more..

Borrowers who lost their homes to foreclosure between Jan. 1, 2008 and Dec. 31, 2011 may receive a check in the mail this month for at least $840. The National Mortgage Settlement Administration announced last week that eligible borrowers who filed a claim form with their office will be mailed compensation checks starting this month. The compensation checks are part..

Mortgage rates are near historic lows according to a report released today from Zillow Mortgage Marketplace. Today’s rate for a 30-year fixed home loan is 3.25 percent and today’s rate for a 15-year fixed home loan is 2.49 percent according to the report. “Mortgage rates saw little movement this week and continue to hover near historic lows,” said Erin Lantz,..

An article in the Tampa Bay Times yesterday (link below) offered an insight into the increase of rental properties in the Tampa Bay market while contrasting it with a stark picture of the families who lost their homes to foreclosure and are stuck renting. Worth the read. http://tbo.com/news/booming-apartment-market-means-higher-rents-b82484535z1

Buyers of Florida multimillion-dollar homes are back. Three homes sold last month for over $3 million in Southwest Florida. This is a turnaround for the luxury home market after a staggering slump in sales in the high-end housing market. In fact, in some Florida counties, not one of the luxury homes up for sale was sold in 2012. The three..

Two Florida community development entities were awarded $100 million collectively as part of the New Markets Tax Credit (NMTC) established to incentivize investment in businesses and real estate projects located in low-income communities. The awards were announced on April 24, 2013 as part of the U.S. Department of the Treasury’s Community Development Financial Institutions Fund. A total of 3.5 billion..

To the delight of specialty food lovers, Trader Joe’s may be coming to Tampa. At yesterday’s annual meeting of the Westshore Alliance Development Forum, Jason Donald, of Cushman & Wakefield’s real estate firm, said, “It is rumored that Trader Joe’s has found a site along Dale Mabry.” Due to a confidentiality agreement, Donald did not elaborate. It’s good news to..

Is now the time to buy Florida real estate? The short answer is yes! Prices and interest rates are still low and inventory is shrinking thus reflecting a strengthening market. Browse the MLS listings of homes for sale in the greater Tampa area at https://www.prosperarealty.com/find.html If you’re thinking of buying or listing your home for sale, contact Teresa Williams of Prospera..