Tampa Real Estate Sales Still Rising

-
Although there has been a high number of a sale in the Tampa Bay real estate market the last couple of months, the industry is sending some mixed signals. What is happening in our changing market?


According to The Tampa Tribune, “Homes sales are climbing, up 16 percent from a year ago and 24 percent from last month”. However since there is such a high number of bank owned and distressed properties, the median sale price is only $111,100.

Of the 2,375 real estate sales in Tampa in February 2011, a large majority were bought by investors. They see properties in distress, prices continuing to decline and investors are cashing in.

The spring selling season is around the corner however, and projections are expecting more traditional homebuyers to start jumping in. Most first time and repeat homebuyers are not interested in the distressed properties. They start off looking at the price tag, but are not prepared to deal with the challenges once viewing the property. They see the value in finding a home that is ready for them to enjoy immediately. New construction home sales are up and with the new selling season, median sales price is expected to increase.

All of these statistics are causing one more interesting trend in Florida, real estate sales agents are increasing. According to The Orlando Sentinel, After a slump in the real estate market in mid-2007, the pool of real estate professionals has dropped more than 13%, however Since the beginning of 2011, the numbers have been edging back up, it is predicted that 268,257 registered brokers and agents were active in Florida’s real estate market by the end of February 2011.

With homes sales rising, positive projections of buyers confidence in purchasing real estate again, and professionals confidence in real estate careers, Tampa bay may be shaping up for some market improvements. Now is your time to move forward.

SI Real Estate works with Buyers, Sellers, and Investors to get the most out of the Tampa real estate market. Call us today at 813.631.5144 or email us at YourHome@SIRealEstateInvestments.com.

SI Real Estate is also looking for qualified agents, whether you have 20 years experience or just received your license. Contact our office to start your real estate career with SI Real Estate. You will see that we are “Global Real Estate in Every Way”.

Comments

Post a Comment

Popular posts from this blog

Featured Community of the Week – Beso Del Sol in Dunedin, Florida

-
Image
Can you imagine waking up each morning to a majestic view of the sparkling Gulf of Mexico waters? This all-inclusive resort condo community in Dunedin, Florida provides a perfect waterfront retreat. Situated directly on the Gulf, panoramic waterfront views overlook the St. Josephs Sound and Honeymoon Island, creating a tranquil setting that is far from the ordinary. Condo and community features include: · Fully furnished, all-inclusive studio, one and two bedroom units · Flat panel TV’s, stainless steel appliances, and granite countertops · Two waterfront heated swimming pools and hot tub · Fully-equipped fitness center and bicycle rentals · Onsite property management and housekeeping · Boat slips · All utilities included in HOA fees · Castaway Tiki Bar onsite with weekly entertainment Beso Del Sol Resort offers three wonderful floor plans to choose from with prices starting in the mid $100,000’s. Whether you are looking for a real estate investment, weekend retreat, vacation property...
Read more

Real Life Real Estate...New Construction vs. Foreclosure

-
Image
A hot topic for potential homebuyers is, should I look Foreclosures, existing older homes, or New Construction? The hype lately seems to be on Short sales and Foreclosures. Bank owned properties are being snatched up by cash investors and we hear of bidding wars everyday in Tampa over bank owned properties. Investors have money to spend, and no desire to occupy the property personally, they can fix any issues that arise with no problems. It is very enticing for a buyer to see large discounts foreclosed and short sales but what else does a buyer need to consider when deciding on purchasing a home? SI Real Estate has helped three clients purchase a new Construction home in the last two weeks. What made these buyers decide purchasing a new home was better than foreclosure and existing home options? There is a great website being advertised by Lennar homes, “Buying a New Home vs. a Foreclosed Home” . This website highlights advantages of purchasing new construction. Buyers need to cons...
Read more

Tampa Real Estate Hot Topic: Mortgage Rate Predictions for 2013

-
Image
Last week we discussed the importance of understanding the effects that rising home prices have on mortgage rates and the buying power of consumers in the market to both buy and sell.   The recent mortgage rate activity has caught the attention of the nation, and of course our local Florida real estate market.     Since May 2013, the average rate on a 30-year mortgage rose from approximately 3.3% to 4.87% according to Freddie Mac.   Executive vice president of McCue Mortgage, Kim Neilson, states that the market hasn’t seen an increase of this magnitude in years.   Despite the recent jump, however, rates are expected to remain steady between 4-5% throughout the remainder of 2013.   There are two main reasons for this situation on the market. Firstly, the Federal Reserve chairman Fred Bernanke indicated in mid-June that he might slow down the purchase of mortgage-backed bonds. These were designed to strengthen the secondary market for lenders and ...
Read more