A Simple Explanation Of The Federal Reserve Statement (January 25, 2012)

Wednesday, the Federal Reserve's Federal Open Market Committee voted to leave the Fed Funds Rate unchanged within its current target range of 0.000-0.250 percent.

The Fed Funds Rate has been near zero percent since December 2008.

For the third consecutive month, the Fed Funds Rate vote was nearly unanimous. Just one FOMC member dissented in the 9-1 vote, objecting only to the language used in the Fed's official statement.

In its press release, the Federal Reserve noted that the the U.S. economy has "expanding moderately" since its last meeting in December 2011, adding that the growth is occurring despite "slowing in global growth" -- a reference to ongoing economic uncertainty within the Eurozone.

The Federal Reserve expects moderate economic expansion through the next few quarters but is wary of "strains" from global financial markets, and these three threats to the U.S. economy :  

1. The housing sector remains "depressed"
2. The unemployment rate remains "elevated"
3. Fixed business investment has "slowed"

On the positive side, the FOMC said that household spending is rising and inflation remains in-check. The group also believes that employment will gradually improve nationwide going forward.

The Federal Reserve neither introduced new economic stimulus, nor discontinued existing market programs.

Immediately following the FOMC's statement, mortgage markets rallied, pressuring mortgage rates to fall in and around Kent. 

Mortgage rates remain near all-time lows and, for homeowners willing to pay points plus closing costs, conventional, 30-year fixed rate mortgages can be locked at below 4 percent. If you're in the process of buying or refinancing a home in WA , it's a good time to lock a mortgage rate with your lender.

The FOMC's next scheduled meeting is a one-day event slated for March 13, 2012.

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The Federal Reserve Meets Today : Mortgage Rates Expected To Move

The Federal Open Market Committee adjourns from a scheduled 2-day meeting today, its first of 8 scheduled meetings this year.

The FOMC is a designated, rotating, 12-person committee within the Federal Reserve, led by Federal Reserve Chairman Ben Bernanke. Members of the FOMC sub-committee are the voting members of the Federal Reserve; the ones that ultimately determine U.S. monetary policy.

The most well-known Federal Reserve monetary policy tool is the central bank's Fed Funds Rate. The Fed Funds Rate is the prescribed interest rate at which banks borrow money from each other for a period of one night. 

The Fed Funds Rate can only be changed by FOMC vote.

For home buyers and would-be refinancing households in Renton , it's important to recognize that the Fed Funds Rate is an interest rate separate and distinct from "mortgage rates". Mortgage rates are not voted upon by the Federal Reserve. Rather, mortgage rates are based on the price of mortgage-backed bonds, a security bought and sold among investors.

Historically, there is little correlation between the Fed Funds Rates and 30-year fixed rate mortgage rates throughout WA. Going back 20 years, the benchmark rates have been separated by as much as 5.29% and have been as near as 0.52%. 

The spread has even gone negative, most recently in 1979 and 1981 -- a period marked by high inflation.

Today, the separation between the Fed Funds Rate and the average, 30-year fixed rate mortgage rate is roughly 3.60%. Beginning at 12:30 PM ET, however, that spread is expected to change. The FOMC will make its statement to the press at that time, and will release its quarterly forecast to the markets.

As Wall Street reacts to the Fed's press release and projections, mortgage rates will move.

Investors expect the Fed to vote the Fed Funds Rate unchanged from its current range near 0.000 percent, but are unsure of how the Fed will characterize the U.S. economy. If the Fed speaks optimistically on the economy, stock markets should rise and mortgage bonds should fall, driving mortgage rates higher.

Conversely, if the Fed shows concern for future economic growth, mortgage rates should drop. Either way, today figures to be volatile one for mortgage markets. 

When mortgage markets get volatile, the safe play as a rate shopper is to lock your mortgage rate immediately. There too much risk in floating.

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Jennifer Aniston Buys Big Digs in Bel Air

BUYER: Jennifer Aniston
LOCATION: Los Angeles (Bel Air), CA
PRICE: $20,970,000
SIZE: 8,500 square feet (approx.), 4 bedrooms, 6.5 bathrooms

YOUR MAMAS NOTES: It seems sit com queen and rom com royal Jennifer Aniston is moving on up to a twenty-some million dollar mid-century modern in the hoity toity Los Angeles, CA community of Bel Air. Before we address the newest real estate rumors swirling around Miz Aniston's latest (and alleged) acquisition let's quickly recap some of the notoriously real estate fickle celeb's most recent real estate activities.

In 2006 Miz Aniston dropped $13,500,000 for a Hal Leavitt-designed mansion in Beverly Hills then spent five years and many more millions on an extensive overhaul spearheaded by talented star-friendly architect and designer Stephen Shadley. Just as soon as the paint was dry Miz Aniston had a real estate change of heart and flipped the house on the market in early 2011with an oh-no-she-di'int asking price of $42,000,000.

Earlier in the year she'd told the people at People that she'd been on the hunt for a little place in New York so she could spend more time on the east coast. She also explained to the People peeps that she'd woke up in a London hotel room one night in the not so distant past and just at that moment came to the realization her life "felt really cluttered" and decided she needed to "simplify" her life, a process that included selling her big house in Beverly Hills which was "just too much" for the then single actress.

Of course, celebrities sometimes have a funny way of simplifying their lives. 

The Bev Hills house quickly sold the house to an Orange County-based mutual fund magnate in June (2011) for $35,000,000 but not before Miz Aniston had already dropped more than seven million clams on two apartments in a low key but swankety-swank pre-war building in the West Village, one a puny 1-bedroom penthouse wrapped in planted terraces she bought from hairstyling honcho Sally Hershberger and the other a 1-bedroom apartment directly below. If the work has not already been done (or begun) the two adjacent but unconnected apartments will require extensive work to cohesively combine. That doesn't really sound very simple but then again who are we to know from simple?

Anyoo, it looked then like the long-time L.A. resident did indeed plan to high tail it back to New York City where she grew up and lived until she landed her defining (and exceedingly lucrative) role on Friends. But, not so fast said the little green man in the purple pants. It wasn't long after Miz Aniston sold her house in Beverly Hills that she and her new New York-based man-beau Justin Theroux—who left his live-in gal pal of 14 years to get with Miz Aniston—settled into unmarried (and leased) bliss in a high-priced love nest in the Bird Street neighborhood high above Los Angeles' Sunset Strip and it wasn't long after that bit of bizness hit the property gossip blogs Your Mama began to get wind of  Miz Aniston house hunting in the Platinum Triangle, interested primarily we were told in architecturally significant homes with lots of privacy and seven figure asking prices.

Next up came all the hoo-ha and hullabaloo about Miz Aniston ditching her plans to combine her newly acquired West Village apartments in favor of a much more contemporary condo crib listed at $8,700,000 and located in same high-brow boo-teek building in Gramercy Park where Chanel's exceptionally prolific German-born fashion goddess Karl Lagerfeld owns a pied a terre he's had on and off the market in the last year. Miz Aniston quickly shot down the rumor, admitting she did tour the place but had not made an effort to purchase.

Back on the west coast the rumors of Miz Aniston's desire for a permanent residence began to heat up and about two weeks ago we heard from Hermione Hightower, a trusted informant who sometimes has very accurate intel on Miz Aniston's real estate doings, who passed along the scuttlebutt that Miz Aniston was in the process of acquiring a clean-lined A. Quincey Jones contemporary in Bel Air on and off the market since 2008 an last listed with an asking price of $24,900,000.

We (stoopidly) sat on the tip. Naturally we asked around and received some "I hear that too" responses but nothing concrete enough we felt we wanted to move forward with the information. Alas. We snoozed and we losed. Today gossip juggernaut TMZ reported Miz Aniston has indeed snatched up the very same A. Quincey Jones-designed mansion in Bel Air that Hermione Hightower told us the superstar was buying weeks ago.

Another valued source told us earlier today that word on the Platinum Triangle real estate street is that Miz Aniston will pay around $22,000,000 for the approximately 8,500 square foot residence perched on a 3.25(ish) acre promontory high above the Bel Air Country Club.

A uniform grid of trees shade the gated, plaza-like gravel motor court and directly reference the rigorous geometry A. Quincey Jones applied to the architectural elements of the property that include a U-shaped main house with 4 bedrooms and 6.5 bathrooms plus a separate guest house tucked into a quiet corner of the estate and a brightly colored poolside pavilion with outdoor dining and lounging area with fireplace.

Interior spaces have gleaming honey-colored hardwood floors, vast planes of gallery white walls, long banks of full-height windows and sliding doors, and purposeful pops of bright colors that include a cobalt blue wall that surrounds a courtyard outside the formal dining room, lipstick red fireplace column that separates the front entry from the formal living room, and cobalt blue chimney breast in the master bedroom.

The back of the house opens up balconies and terraces with canyon and city views. A wide lawn stretches back the swimming pool (with spa and poolside pavilion) that sits on a lower terrace between the house and the small hillside vineyard that undulates along the lowest slope of the terraces estate. Certainly she'll pay someone to grow her grapes, mow the lawns, trim the trees, and skim the pool, but employing a small army of horticulturalists and botanists, a shirtless pool man, and a part time viticulturist doesn't sound like the simple life to Your Mama but then again....

listing photos: Everett Fenton Gidley for Westside Estate Agency

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Existing Home Sales Approach Bull Market Territory

The housing market finished 2011 with strength, and is carrying measurable momentum into 2012. 

According to data from the National Association of REALTORS®, on a seasonally-adjusted, annualized basis, December's Existing Home Sales climbed by 120,00 units overall from the month prior on its way to an 11-month high.

An "existing home" is a home that's been previously occupied; that cannot be considered new construction.

After 4.61 million existing homes were sold in December, there are now just 2.38 million homes for sale nationwide. The last time the national home supply was this sparse was March 2005.

At today's sales pace, the complete, national home inventory would be exhausted in 6.2 months -- the fastest pace since before the recession. A 6.0-month supply is believed to represent a market in balance. 

The December Existing Home Sales report contained noteworthy foreclosure and short sale statistics, too :

• Foreclosures sold at an average discount of 22% to market value
• Short sales sold at an average discount of 13% to market value
• Together, foreclosures and short sales accounted for 32% of all home sales

Clearly, "distressed homes" remain a large part of the U.S. housing market.

Furthermore, in its report, the real estate trade group also noted that one-third of homes under contract to sell nationwide succumbed to contract failure last month. That's up from 9% one year ago.

Contract failure occurs for a multitude of reasons, most notably homes appraising for less than the purchase price; the buyer's failure to achieve a mortgage approval; and, insurmountable home inspection issues. December's high failure rate underscores the importance of getting pre-approved as a buyer, and of buying homes in "good condition".

For today's home buyer in Kent , December's Existing Home Sales figures may be construed as a "buy signal". Home supplies are dropping and buyer demand is rising. This is the basic recipe for higher home prices ahead.

If your 2012 plans call for buying a home, consider that home values throughout WA are expected to rise as the year progresses. The best values of the year may be the ones secured this winter.

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Brandon Boyd Double Whammy: Two

BUYER: Brandon Boyd
LOCATION: Venice, CA
PRICE: $2,750,000
SIZE: 2,909 square feet, 3 bedrooms, 3 bathrooms

YOUR MAMAS NOTES: Earlier today Your Mama discussed the somewhat unconventional Venice, CA residence that Brandon Boyd, much-inked visual artist and comely lead singer of the radio-friendly rock bank Incubus, currently has up for sale with an asking price of $3,195,000. Mister Boyd listed his long-time abode back in August 2011 at a notably higher price ($3,495,000) and although the situation was much covered by many of our celebrity property gossip compatriots Your Mama did not, for reasons we don't recall, delve in to the matter at that point and time.

Mister Boyd may have yet to sell his quirky (and deluxely done) crib near the beach but it was recently tattled to Your Mama by an informant we'll call A. Nonny-Mouse that the slim-hipped (and apparently long-haired) singer-artist has already purchased another property, also in Venice.

Making use of very specific information provided by Missus Nonny-Mouse Your Mama was able to confirm the same trust and trustee Mister Boyd used to acquire his house in Venice—purchased from actress Maria Bello in November 2005—now shows up as the new owner of a fully fenced, gated and secured property just a momentary stroll off busy Abbot Kinney Boulevard, the primary arty-farty/hippy-dipy and increasingly upscale commercial heart of the still rough around the edges, left leaning Los Angeles beach community of Venice, a geographical and historic magnet for (among others) political radicals, hippies and hipsters, successful creative types, assorted freaks and geeks, arty-farty showbizzers, and a sizable and very visible homeless population. Resources and documentation available online indicate the lofty-residence in question, somewhat smaller that Mister Boyd's commercial conversion just over a mile to the north and west, went for $2,750,000.

Listing information Your Mama teased up out of the interweb shows the 3 bedroom and 3 bathroom residence measures 2,909 square feet, a figure that may or may not include an office space above the detached 2-car garage. The house was custom designed and built in 2007 "by a prominent interior designer." Said designer turns out to also be the seller who property records reveal as Amy (Devault) Acuna and her fashion designer/wardrobe stylist huzband René Acuna who acquired the property in the final days of 2002 for $573,000.

A gated walkway shoots up the side of the property and house to a brick-lined inset entryway where a black steel-framed commercial-style glass door swings open to a proper and intimately-scaled entrance hall with radiant heated polished concrete floor and full wall bathed in a high-glam, white silhouetted silvery wallpaper that we like because it's shiny and we like shiny things but also worry its well past its Warholian 15 minutes. The cozy-compact foyer explodes into the voluminous main living space with staggering 30-foot high exposed wood bow truss ceiling, bleached wide-plank wood floors (unnecessarily) laid at a 45-degree angle, a wood-burning fireplace, vast expanses of white walls for bouncing light and displaying artwork, and a pair of french doors with custom hand-forged hardware that open to a decked, fenced and high-hedged courtyard where a cushioned built-in bench hugs a tire-shaped concrete fire pit.

The kitchen, tucked under the stairs and open to the dining area of the main living space, seems a wee bit wee maybe for a 3,000 square foot loft-style residence but is generously equipped with a chunky white marble-topped center work island with snack counter, ebony flat-fronted cabinets with thickly veined black marble counter top, high-grade stainless steel appliances, and an awkward built-in buffet with plenty of space for cook books as if anyone actually uses cook books anymore. We tease. A butler's pantry with under-counter wine fridge connects the kitchen to the foyer and a bathroom facility that may be uncomfortably close to where food is prepared and served for Your Mama's preference but does offer dinner and drinks guests a relatively private place to do their dirty business.

An open stair leads up to a loft/den with grey-brown hardwood floors underfoot—notably different that the bleached stuff on the floor in the living room below—a built-in entertainment/storage cabinet at one end and a built-in desk and book shelves on the other.

A double-wide wood door in the loft/den slides back on sleek barn-inspired hardware to a wide corridor and master suite. A bedroom-sized walk-in closet with custom built ins and spa-like earth tone bathroom with separate soaking tub and over-sized shower flank the broad corridor that connects to the wide (if somewhat narrow looking) bedroom outfitted with wood beamed ceiling, gigantic concrete wood burning fireplace, and an extra wide sliding glass door that join to a small private balcony.

A grassy patch runs up the side of the house to a professionally landscaped postage stamp-scaled courtyard that separates the main house from the aforementioned alley-facing detached 2-car garage with office space above. A small deck between the two buildings marks the outdoor shower area that is, as best as we can surmise, totally open to the rest of the small but usable backyard area. Now listen, hunties, no one loves an outdoor shower in the cool evening of summer time more than Your Mama but, have mercy puppies, there does not seem to be a shred of privacy for the showeree here, just a too visible corner of the yard where people can just stand and around gape and guffaw while you inelegantly try to wash beach sand out the crack of yer damn ass.

Anyhoo, in addition to the 2-car garage there are four more off-street parking spaces (one of which doubles as a fenced dog run). Now children, we realize some of y'all are gonna gripe about the gangs in Venice and how it's little more than an expensive and glorified ghetto but regardless of what one may think of the admittedly sometimes less than savory shenanigans that go on in Venice it's impossible not to take not of the rare and valuable luxury six off-street parking spaces is in a tightly packed and parking challenged community where some of the otherwise often liberally-minded homeowners and residents literally fight with the essentially homeless (and not always respectfully hygienic) occupants of the scads of campers and RVs that sometimes dot and line the narrow streets of Venice.

Your Mama, who does not know a balloon from an artificial hip about Mister Boyd's actual plans as regards to his new digs, would bet both our long-bodied bitches Linda and Beverly the office space above the garage will wind up converted into a music/art studio where thirty-something year old Mister Boyd can brandish his paint brushes, blow his didgeridoo and sing his pretty heart out.

Whatever Mister Boyd does to customize his new house and whatever real estate and home day-core traditionalists might think of his idiosyncratic (but hardly avant garde) decorative ways, Your Mama fully expects the end result will be thoroughly infused with his well-honed personal style that exudes an authentic-seeming (if inescapably curated) modern day bohemian point of view.

listing photos: Abbot Kinney Real Estate

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Brandon Boyd Double Whammy: One

SELLER: Brandon Boyd
LOCATION: Venice, CA
PRICE: $3,195,000
SIZE: 3,500 square feet (approx.), 3 bedrooms, 3 bathrooms

YOUR MAMAS NOTES: Brandon Boyd—writer, artist and plaintively-voiced front man for mainstream rock band Incubus—may hail from the archetypal-suburban streets of Calabasas, CA but he's long made his home in the nitty gritty beach community of Venice (CA) where in August 2011 he put his arty-farty if prohibitively pricey for most artists residence on the market with an optimistic $3,495,000 price tag. In early December, a few months after he dropped almost three million bucks to snatch up another house in Venice—more on that later—the rather becoming, sinewy slender and fearlessly tattooed Mister Boyd dropped the asking price of his boho beach side bedsit to it's current figure of $3,195,000.

Listing information indicates the once-commercial two-story structure was built in 1905 and used as a hotel "sometime in the 1940s." Your Mama was told or read somewhere—we can't recall which—the building once operated as a bordello but we aren't able to verify the veracity of such so we don't recommend the children spread that bit about without a caveat. Anyhoo, property records and previous reports on the matter reveal Mister Boyd's abode—situated a short block from the beach and, by Your Mama's assessment, desirably unconventional—was briefly owned by two-time Golden Globe nominated actress Maria Bello (Prime Suspect, ER, A History of Violence, The Cooler) who owned the unorthodox domicile for only 13 months (or so) and sold it in November 2005 at a near quarter-million dollar profit to Mister Boyd for $2,715,000.

The exterior of the mint green structure belies little of the bohemian luxury inside the fully-renovated and upgraded concrete- and cork-floored crib that feature 3 bedrooms, 3 bathrooms, airy 12-foot high pressed tin ceilings with articulated moldings, earthquake-retrofitted exposed brick walls and low-key but high-brow kitchen and bathrooms that resonate of a quasi-industrial upscale Parisian garret, if there is such a thing as a quasi-industrial upscale Parisian garret.

The residence sits hard up on the street with nary an inch of buffer between the sidewalk and the front door opens that directly into the spacious main living space. Mister Boyd (or his nice, gay or lady decorator) wisely installed some sort of curved screen between the front door and the base of the staircase. Not only does the ancient art of Feng Shui require such an interjection to keep the money from flowing right down the stairs and out the front door, it adds a much needed smidgen of visual concealment from anyone who may be walking along the street when the front door is opened.

The "formal" living room, not surprising littered with musical instruments and chock-a-block with art and other objects that ooze with Mister Boyd's personal interests and fascinations, may suffer from a lack of clear glass windows—glass block was used on the exterior wall to maintain privacy but still bring natural light in to the room—but does benefits from a full wall of built in bookshelves filled with actual books and other ephemera that may or may not include some avian taxidermy. A clean-lined, custom-built floating steel staircase with chunky wood treads provides the necessary tension between the vintage nature of the original architecture and the kick-up your feet casual (if costly) and animal skin-draped day-core.

A towering pair of solid wood raised panel doors connect the living room to the ample, open plan combination dining room and kitchen kitted out in High Urban Loft style with simple, white Shaker-style cabinetry and commercial stainless steel appliances that include a restaurant-grade sink, super-size range with separate griddle, and a $10,000 glass-fronted Sub-Zero fridge/freezer that makes Your Mama sweat and swoon with unrequited appliance lust. Several sets of French doors connect to a narrow ground level courtyard tiled with Mexican pavers, hung with a myriad of cheap capiz shell chandeliers and furnished with a variety of wired things that include a vibrant, sunshine yellow cafe table and chairs.

Reclaimed warehouse-type windows line portions the upper level landing where the cork floors extend into the street-facing master suite complete with oddly off-center fireplace, exposed brick walls and pressed tin ceiling. Mister Boyd's boo-dwar offers the style maven a boo-teek sized and naturally-lit closet/dressing room and a beauteous bathroom designed by "a famous local architect" according to listing information and finished with well-worn antique herringbone wood floors—like one might find in a quasi-industrial upscale Parisian garret—white subway tiles smartly grouted in a contrasting grey, twin sinks atop a Jean Prouvé-inspired base, and a fireplace with tile surround adjacent to a free-standing soaking tub set into a greenhouse-like nook with steel-framed frosted glass wall and ceiling.

Listing photographs show Mister Boyd used a large, sky-lit space at the upper rear of the residence as a den/office area and a separate detached addition at the back of the property encompasses a two-car garage that opens to an alleyway and a 640 square foot sound-proofed music studio/guest quarters wrapped in theatrical red curtains and conveniently equipped with a kitchenette.

An unadorned exterior staircase, the sort of thing one might expect to find tucked into an unseen section of an office building or civic structure, climbs up to a wood-decked roof top terrace with an elevated, pergola-shaded shelter perfect for lounging, napping and—for those so inclined—getting frisky outdoors. Tall corrugated metal fencing along the sides may look a bit harsh to those who prefer more traditionally residential materials—we happen to l.o.v.e. the utilitarian nature of the humble and undulating material—but does ensure privacy for anyone who might like to soak up the sun and/or have an open air lunch snack and beverage in their birthday suits. Listing information indicates the roof deck is plumbed for a spa—a feature that pleases our mate The Dr. Cooter to no end—and there's a peek-a-boo view of the glimmering Pacific Ocean over the urban chaos of the surrounding roof tops and telephone wires.

We're not sure why Mister Boyd would want to vacate this obviously much-treasured residence in Venice for another, slightly smaller (and much more polished) loft-like residence in Venice located just over a mile away, significantly farther from the beach and much closer to the busy Abbot Kinney shopping and dining district. But, if we've said it once we've said it 78 times too many, such are the sometimes inexplicable and frequently capricious real estate ways of the rich and famous.

listing photos: Abbot Kinney Real Estate

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The State of the Real Estate Market in Tampa Bay, by SI Real Estate

The net sum of a great deal of graphs, much raw data, and more information from economic and industry trends analyzed by experts, and first hand experience of a professional, is that the Tampa Bay Real Estate Market is making a visible turn. There is a obvious uptick in the prices of homes overall, prices per square foot of real estate, days and overall time on the market, and even new construction starts. To recognize this trend and real estate market, it is our opinion that one must have been a vigorous professional when it was trending up, when at the peak, when at the bottom and even worked at the bottom of this market for the many years the bottom existed. We are no longer at the bottom! It is official! In fact, we have been moving away from the bottom of the market over the past year of 2011. The news is positive, the facts are affirmative. Are you ready for a full real estate recovery? What is your opinion? Here are some highlighted facts for your careful review! The average listing price for Tampa homes for sale on Trulia was $305,882 for the week ending Jan 11, which represents an increase of 4.9%, or $14,407, compared to the prior week and an increase of 3.5%, or $10,474, compared to the week ending Dec 21. Average price per square foot for Tampa FL was $97, an increase of 11.5% compared to the same period last year. Popular neighborhoods in Tampa include Tampa Palms, Old Seminole Heights, Sun Bay South, Davis Islands, Ballast Point, and Cory Lake Isles. If you have questions about real estate, we have answers! These optimistic looking figures are not only applicable to the Tampa Bay area. Nationally, mortgage rates have continued to fall further over the last 2 months. This time last year the national average was 4.74%, currently it sits at 3.89%, reported by Freddie Mac. Not only are mortgage rates down but so are delinquency rates on those mortgages. We have experienced a drop of 7.7 % from December of 2010. Lender processing Services, a company who monitors these figures, says we still have a long way to go and will report 2012 figures within a week or so. Another aspect we tend to look at when analyzing the market are those people without jobs. Jobless claims fell to an all time low in four years, which surprised many analysts because they did not predict such a plunge. The Labor Departments adjusted numbers displayed a drop in jobless claims to be in the ballpark of 50,000. A clear sign that the economy escalating, and employment development is strengthening. While local statistics in Tampa Bay related to listing prices, price per square foot, and number of days on the market are all on the upswing, it is comforting to know that other relative national figures are falling. If jobless claims, mortgage rates, and delinquency rates keep diving, we may find our way out of the housing crisis sooner than expected. At very least, we can remain positive that times are changing for the better and the Tampa Bay real estate market is due for recovery. After years of negativity, we don’t think we could be more delighted with the piqued optimism in real estate.

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