working remote

Is Working Remote Causing a Major Moves in Real Estate?

Is working remote causing a major moves in real estate? Will work from home set-up be the new trend? The COVID-19 pandemic has accelerated the trend of remote work and made it more prevalent in the United States. The rise of remote work has also had an impact on the housing market. Many remote workers no longer have to live in close proximity to their offices, and they have greater flexibility in choosing where they live.

This has led to changes in Tampa real estate, including an increase in demand for homes in suburban and rural areas. Many remote workers are looking for larger homes with more outdoor space, as well as homes in areas with lower costs of living. As a result, home prices in these areas have increased, and the supply of available homes has decreased.

The Rise of Remote Work & Shift in the Housing Market

The rise of remote work has led to a shift in the tampa real estate market, as more people choose to move away from large cities and economic hubs. With the flexibility of working from home, individuals are no longer constrained to living in areas with easy commutes to the office.

As a result, suburbs and cultural hubs have seen an increase in new residents due to their lower living costs and higher quality of life. While these areas have always been appealing, remote work has expanded people’s search for homes beyond their proximity to the workplace. This trend has spread the heat of the housing market to different locations, including cities with lower tax rates and better schools that were previously out of reach for many due to long commutes.

The prevalence of remote work has surged in recent years, with the number of remote workers tripling between 2019 and 2021, as reported by the U.S. Census Bureau. As remote work is expected to remain a fixture in the job sector, homebuyers have begun to prioritize the inclusion of a dedicated home office in their search for a new residence.

Whether it takes the form of a spare bedroom, a basement, or a corner, buyers seek a space that can provide a clear boundary between their professional and personal lives. In the case of multifamily dwellings, developers may consider incorporating co-working spaces as an attractive amenity for potential residents.


working remote

The Influence of Remote Work on the Real Estate Sector

Remote work has had significant effects on both residential and commercial real estate. As companies shift to either fully remote or hybrid work models, there is a decrease in demand for large office spaces, leading to a reduction in commercial real estate. As a result, developers are more likely to build smaller office spaces, and businesses may move to less urban areas to save on rent.

In the residential sector, buyers are looking for homes that offer a dedicated workspace, which has increased the demand for properties with a separate room or area for an office. On the other hand, the surge in demand for housing during the pandemic created an impression of a housing shortage, which was actually due to the shift to remote work and record-low mortgage rates.

While demand for housing remains high, experts predict that rising interest rates will eventually slow down the market, and the perceived housing shortage will correct itself in the near future.

Relationship Between Remote Work & Housing Market

The relationship between remote workers and the housing market is evident. This paradigm shift has had a profound impact on the tampa real estate market, with a decrease in demand for office space and an increase in demand for residential and multifamily housing. Real estate professionals and investors must adapt to this changing market and capitalize on the opportunities that remote work provides.

However, it’s important to note that remote work is not the only factor affecting the housing market. Other factors, such as low-interest rates and demographic shifts, also play a role. Therefore, it’s difficult to establish a direct correlation between remote work and the housing market. Nonetheless, the trend of remote work is likely to continue, and its impact on the housing market will likely continue to be felt in the years to come.

working remote

Siven Premier Real Estate is a reputable real estate agency that has attained a prominent standing in the Florida market. Our agency offers a comprehensive range of tailored services to meet the diverse needs of our clients. Our team comprises of skilled and experienced Realtors who serve our tri-county Tampa Bay area.

We invite you to take advantage of our exceptional real estate services in Florida. For further details on some of the finest Tampa homes available for sale, we encourage you to peruse our website or get in touch with us directly at 813-330-0084.

Tampa Traffic Increases

Tampa Traffic Increases, a Good or a Bad Sign?

As Tampa’s population experiences rapid growth, Tampa Traffic Increases.  The expensive housing market and the underdeveloped state public transportation systems have emerged as significant concerns for the city’s continued expansion. According to, Tampa metro area was expected to grow by approximately 40,000 residents per year between 2019-22.

Compared Miami, Tampa’s appeal as a “home away from home” has attracted both northerners and Floridians to the area. In contrast to Miami, Tampa metro area grew by approximately 42,000 residents in 2021, according to the U.S. Census Bureau. Currently, Tampa houses around 385,000 residents, while Miami decreased from 442,000 in 2020 to 440,000 in 2021.

As the number of people seeking housing in the area increases, the price of rent has also risen. This has raised concerns among students who are worried about finding affordable housing and the costs of commuting.

To improve Tampa’s livability, there is a need to emphasize the importance of enhancing public transportation. Tampa is the only top-20 metro region that spends less than $213 million annually on transportation, according to the Tampa Bay Times. In the year 2022, the city earmarked a budget of $155 million to cover the expenses associated with the development of transportation infrastructure. Improving public transportation could play a significant role in alleviating traffic congestion. It will also help with commuting costs, and enhancing the overall quality of life for Tampa residents.

Tampa Traffic Increases

 Evolution of Transportation Tied to Expansion of Economic Opportunities

The evolution of transportation since the onset of the industrial revolution has been closely tied to the expansion of economic opportunities. Each stage of economic development has been accompanied by a corresponding transportation technology that has had a range of effects. Innovations in transportation, along with other factors, have played a pivotal role in shaping economic opportunities for production, distribution, and consumption.

The interrelationship between transportation and economic activities has been a significant driver of economic development. Transportation acts as a means of linking producers and consumers. Thus, we can safely say that an increase in traffic in Tampa is tied to the expansion of economic opportunities.

Tampa Traffic Increases

Siven Premier Real Estate is an esteemed real estate agency that holds a prominent position in Florida’s market. Our agency provides a comprehensive array of integrated services to meet our clients’ varied needs. Our team comprises highly skilled and experienced Tampa realtors who possess an in-depth understanding of the complexities associated with real estate transactions.

We extend a warm invitation to you to benefit from our exceptional real estate services in Florida. For further information on some of the finest Tampa homes for sale, please visit our website or contact us directly at 813-330-0084.

Foreign National Loan

Foreign National Loan to Help Buy More US Homes

Foreign National Loan can help foreigners purchase a home in a new country as a foreign national. In the current market, it may be an opportune time for foreign nationals to take advantage of these favorable conditions. For those without an established credit history in America, securing a mortgage loan can be a daunting task.

Fortunately, there are mortgage lenders that provide mortgage options to foreign national borrowers with no US credit history. This pertains to individuals who just arrived in the United States on visas. As well as those who are non-resident buyers of U.S. property. This article will explore the various mortgage options available for foreign nationals with no credit history who wish to purchase property in the United States.

 Concept of a Foreign Mortgage Loan

A foreign national mortgage loan is a type of mortgage loan tailored to meet the needs of individuals who are not citizens or permanent residents of the United States, but are interested in purchasing a property within the country. While these loans may require a larger down payment and carry higher interest rates due to the lack of a U.S. credit history and income, they can still be an attractive option for foreign nationals seeking to invest in the U.S. real estate market.

Foreign nationals who are non-residents have the opportunity to obtain a mortgage through lending programs specifically designed for them, which do not require the provision of a Social Security number, green card, or visa. Moreover, these borrowers need not have a FICO score to demonstrate proof of creditworthiness. Alternatively, they may demonstrate their creditworthiness through a range of approaches, which may include presenting a credit report from their country of origin or providing other supporting documentation.

ITIN loans or loans for non-permanent resident aliens are the common terms used for non-resident foreign loans. These programs enable non-citizens to purchase real estate within the United States, often without the typical documentation required when obtaining a mortgage.

Foreign National Loan

Advantages of Foreign National Loans

These are advantages of Foreign National Loans.

  1. Capability to obtain financing for investment properties and secondary residences,
  2. Loans of up to $5 million
  3. Financing of condominiums without warranties
  4. Availability of loans with low debt service ratio for investment properties
  5. Endless cash-out
  6. And no requirement for a U.S. FICO score (provided evidence of three active and open trade-lines with a two-year history is provided).

To obtain a foreign national mortgage loan in the United States, these are the steps.

First Step

Estimate your budget by determining the maximum monthly payment instead of the home purchase price. Mortgage lenders typically use two methods to calculate this payment, the front-end and back-end ratios. The former considering all housing costs, including property taxes and homeowner’s association dues. While the latter not considering these additional fees.

Second Step

Obtain pre-approval for a foreign national mortgage loan is crucial as it provides confidence in the amount of loan that the lender will provide and signals to real estate agents and sellers that the buyer is a serious contender.

To obtain, borrowers will need to prepare documents verifying their identity. Income statements, and evidence of assets, such as stocks or savings accounts, will also be checked. It is advisable to seek assistance from an experienced mortgage professional to guide borrowers through the process.

Third Step

For international clients seeking a mortgage in the US, there are additional document requirements beyond the ones mentioned previously. These include a copy of the passport, a valid US visa (unless the country participates in the Visa Waiver Program), completion of an International Credit Report Form provided by the lender, two years of employment history with contact information, and two years of residency history (including address, ownership/rental status, and start and end dates).

Fourth Step

Once you have obtained pre-approval for your international mortgage, you can begin shopping for your home and making an offer. It is recommended to work with a qualified Tampa top realtor or best brokerage firm with experience in international real estate transactions. Your agent will guide you through the home shopping experience and help you find the perfect property. After selecting a property, you can make an offer and work with your agent to structure the offer and incorporate contingencies. This is also the stage at which you will provide an earnest money deposit, typically a percentage of the purchase price.

Fifth Step

You can now begin the mortgage application process with a lender who specializes in foreign national US mortgages. You will need to consider the types of mortgages available. Compare their respective rates, settle on a down payment amount, and choose a term length.  

Sixth Step

Mortgage rates in the United States are subject to daily fluctuations based on the performance of the bond market. Locking your mortgage rate will ensure that your interest rate remains constant until the loan’s closing. The rate lock process will be facilitated by your loan officer. It is advisable to secure a rate lock on your loan once you have agreed to the loan estimate and decided to proceed with the lender for your U.S. home financing requirements.

Seventh Step

The loan processing and underwriting stage commences after accepting and signing the Loan Estimate. At this stage, you will work alongside a loan processor, in preparation for its submission to the underwriter. The loan processor ensures that all documentation is included in the submission to the underwriter.

Eighth Step

A real estate appraiser prepares a home appraisal report at the lender’s request. The appraiser evaluates the property and determines its worth or fair market value. The appraisal process provides protection for both the buyer and lender. If the appraisal returns with a value lower than the sales price, there are three available options. You can either cover the difference, renegotiate with the seller, or exercise the appraisal clause in the purchase agreement and walk away.

Ninth Step

After completing the underwriting process, you prepare for closing. You bring your photo ID, a copy of your Closing Disclosure, and any other final paperwork to the settlement table, along with all necessary funds. Your loan officer should provide you with a copy of the Closing Disclosure. The normal timeframe is at least three business days before signing the mortgage loan documents at your closing. The Closing Disclosure document details the precise dollar amounts payable for the different fees and services. Upon completion of all necessary formalities, you officially become a homeowner. Congratulations on your successful purchase of a house in the USA as a foreign national!

Foreign National Loan

Siven Premier Real Estate is a distinguished real estate agency with a strong presence in Florida, offering a comprehensive range of integrated services. Our team is composed of seasoned and proficient Tampa realtors who possess a profound knowledge of the intricacies inherent in real estate transactions.

We cordially invite you to take advantage of our exceptional real estate services in Florida. Please feel free to contact us directly at 813-330-0084 or visit our website to discover further information on some of the finest Tampa homes for sale.

Canadian Buyers

Canadian Buyers Set Their Sights on Florida

Yes, Canadian Buyers can acquire real estate in Florida! Canadian citizens are able to acquire real estate in the state of Florida. Provided that they adhere to the same procedures that apply to other foreign buyers seeking to purchase property in the region. This includes obtaining a tax identification number, establishing a U.S bank account, and being prepared to pay any associated fees and taxes. Canadians need to be mindful of any distinct regulations that vary from those in their home country.

For those Canadians who are interested in buying real estate in Florida, it is strongly recommended to consult with the best brokerage firm in Tampa or look for Tampa top realtor, who can assist with the transaction and ensure a seamless process. In addition to this, it is vital to evaluate the worthiness of the property before making any purchase decision.

Canadian Buyers

Important Things To Keep In Mind


The property’s location is crucial in determining its rental income potential. Make sure it is located in a desirable neighborhood.


Do not overpay for the property. Determine its fair market value and familiarize yourself with the purchasing process, closing costs, mortgage loans, pre-approval, legal fees, maintenance costs, and interest rates.

Currency Exchange Rate

Being aware of the currency exchange rate is crucial since it directly impacts your mortgage loan obligations. Stay updated on current rates and fluctuations to be prepared for any changes.

Snowbird Regulations

As a Canadian citizen, be aware of the relevant snowbird regulations before buying any property in Florida. Ensure you understand how this factor affects your decision to buy the property and its usage.


Decide on your budget by considering closing costs, purchase prices, down payment, mortgage rates, and property taxes.

Fees and Costs

Take into account all additional fees and costs such as appraisal fees, home inspection fees, title search fees, title insurance, documentary stamp tax on the deed and mortgage, credit report fee, application fee, loan origination fee, legal fees, discount points, and additional costs for property management and booking fees.

Property Taxes

Keep in mind that Florida has high property taxes, so familiarize yourself with the tax rules, liabilities, and double taxation.

Rental Yield

Ensure the property you invest in has good rental income potential.


Real estate in Florida has the potential to appreciate at a reasonable rate, so consider this when making a long-term investment.

Canadian Buyers

Siven Premier Real Estate is a renowned real estate agency that operates in Florida, providing a comprehensive suite of integrated services. Our team comprises of skilled and experienced Tampa realtors who possess an in-depth understanding of the complexities inherent in real estate transactions.

We extend a warm invitation to you to avail yourself of our exceptional real estate services in Florida. Please do not hesitate to reach out directly at 813-330-0084 or visit our website to gain details of some of the best Tampa homes for sale.