South Tampa Short Sales, Foreclosures Offer Rare Bargains

Looking to buy a home in South Tampa, but can't afford the usual hefty price tag? Short sales and foreclosed homes might be your answer, according to TBO.com.

While short sales and foreclosures in South Tampa neighborhoods are rare, those that exist often come at a big discount compared to nearby real estate, TBO's Josh Poltilove reports.

"The nearly 600 houses without foreclosure issues that sold last year north of Gandy Boulevard in South Tampa cost an average of about $370,000 each," Poltilove wrote after examining records.

At the same time, 86 short sales in that same area sold for an average of $245,000 (a 34 percent discount from market price), and 44 foreclosures averaged $163,900 (a 56 percent discount).

The TBO.com report notes, however, that those short sale and foreclosure prices are still higher per square foot than elsewhere in Hillsborough County.

Read more of Poltilove's update on local real estate here.

What's the real estate market like out there in South Tampa? Share your experiences in the comments section below.