Tuesday, August 19, 2008

Existing homes, condo sales improve in Tampa

Existing homes, condo sales improve in Tampa Bay (edit/delete)
With the abundance of interesting press regarding the housing slump, there has been a significant increase in optimism and market conditions in the Tampa Bay real estate arena. SI Real Estate calls it our "Shimmer of Hope" for the Tampa Real Estate Market.

The experts have been chiming in and we are listening. From the nationally respected Jim Cramer and Dave Ramsey, to all of our local real estate market experts here in Tampa Bay, the news is refreshing and could not have come at a better time. Jim Cramer states that the "The Florida market is the template for all of the recovering real estate markets, being a year ahead of the rest." He further says that Florida is in this position because Florida builders stopped construction 2 years ago, which allowed for an earlier bottom. The inventory has NOW begun to go pending and sold. Let's face it folks, we are headed for brighter days.

In particular... Tampa's real estate market is stabilizing. Throughout Tampa Bay, the gap between the listing price and selling price is narrowing. In particular, South Tampa's prestigious homes are selling at 96% of the listing price. The math is quite simple. Prices are adjusting, homes are going pending and sold, which will consume inventory. Summary: Real Estate Correction in Tampa Bay: Correcting...

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