Tampa real estate is experiencing more than a few months of inventory, some say about 17-months of inventory, which may be a record for that metropolitan area. It’s more than double the amount of time a home traditionally sits on the market. The Florida building boom two years ago seems to have backfired. Too many people wanted to flip for a quick buck. It didn’t happen. And many homeowners got in over their heads with loans they couldn’t afford and didn’t understand.

Linda Pichler is with the non-profit Consumer Credit Counseling Service. She said the agency has over 7000 calls a month coming into their office, an increase because of all the foreclosures. The organization is helping homeowners dig themselves out debt. “Nationally individuals (paced with possible foreclosure) who are working with credit counseling, 80-percent are able to save their homes,” she said.

Pichler said the biggest mistakes homeowners in this situation make is not reaching out for help. These days, she said, lenders are willing to work with homeowners to restructure loans. With some help, chances are you’ll be able to keep your home and if you’re in the market for a new one, you’ve got plenty to choose from. Industry experts say to be aware of all the scams out there. They suggest you seek out a trusted adviser such as an accredited agency like the consumer credit counseling service, an attorney or a tax adviser.

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For more information on this and other real estate matters, your first source for Boca Raton real estate should be licensed agent and long-time resident Caesar Parisi.

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