Average home values in the Tampa Bay market have fallen 10.2 percent in the past year to $116,900, among the biggest slides in the country, according to online real estate tracker Zillow.com. Nationally, home values are down 3.8 percent year-over-year, according to Zillow's home value index for May, which is being released Wednesday. Between April and May, Tampa home values slipped 0.8 percent, compared with a drop of 0.4 percent nationally. From their peak, home values in the Tampa market have fallen 46 percent. For its year-over-year drop, Zillow singled out Tampa as one of the worst performers, along with Detroit, Las Vegas, Orlando, Miami and Phoenix. Zillow chief economist Stan Humphries predicted more pain with expiring tax credits and persistently high unemployment. "The continuing decline in home values has been expected and is what we've been saying is and will be happening until later this year," Humphries wrote in a blog post.
* * *
HSN, Sony align to promote movie
HSN on Tuesday unveiled a first-of-its-kind TV shopping partnership with Sony Pictures to rev up the pre-release hype over a Hollywood feature film. HSN is devoting all programing for three days starting Aug. 6 to themes taken from the upcoming Julia Roberts movie Eat Pray Love. HSN designers and brands developed more than 400 lifestyle and apparel products linked to the movie, which is taken from a best-selling memoir of a divorcee who takes a mid-career sabbatical to Bali, Italy and India.
* * *
Liza's HSN visit becomes big hit
HSN scored lots of celebrity press and blog buzz from a recent appearance by Liza Minnelli, plugging sales of her collection of velvet jumpsuits, jewelry and accessories. Loopy as ever, Minnelli advised the network's models on how to make more dramatic gestures, offered tips on storing sequined dresses and noted that "the dress sells you, you don't sell the dress." The one-time appearance on the St. Petersburg TV shopping network (much of it still accessible on hsn.com) and several edited versions for YouTube were picked up everywhere from Entertainment Weekly and Us to Huffington Post and Perez Hilton. HSN officials described sales of many Liza Collection items as "hot" and call traffic as "overwhelming."