Homes Are Now More Affordable Than Ever

-
A recent study conducted by the National Association of Realtors shows that housing affordability has been at an all time high thus far through 2012. The Housing Affordability Index is relative to median home prices, median home income, and average home mortgage rate. Buying power is the result of a higher index. Here in the Tampa, Florida market, the Housing Affordability Index is higher than most cities in the country. President of the National Association of Realtors, Moe Veissi, says the most recent study highlights the opportunities that more and more people are ready to buy, and some may not even know it. The “100 point” mark is reached when a median income level producing household is ready to purchase a median priced existing single family home. Being that the index is above 200 right now, the majority of Americans have double than what is actually needed to buy a home. Florida’s Bay area, which includes Tampa, St. Petersburg, and Clearwater, is currently at 154.4 as it relates to housing affordability. He also went on to say that housing inventory has dropped and that the decline in supply should help the housing market stabilize throughout 2012. If access to credit is made easier, we should see home prices and sales going up more and more as we head into the second quarter of this year. As mortgage rates remain at all time lows, and mortgage applications stay high, more activity is soon to come. If these record low rates can remain available for an extended period of time, we can begin to see light at the end of the tunnel. If you would like to receive information on what your buying power is, please leave a comment or contact us directly so we can send you information that your will find informative. You could stop wasting your money renting an apartment next to the noisy neighbors. Buy your own home and let SI Real Estate help you along the way. SI Real Estate offers highly personalized, multilingual, full-spectrum real estate purchase and sales services. We are a boutique for sophisticated investors, select owners or renters who may be upgrading locally, or those making traditional relocations. We also provide turnkey landlord and tenant management. Blending comprehensive insight into the Tampa Bay area with international perspectives for a worldwide clientele, we like to think that “SI Real Estate is Global Real Estate in Every Way!”

Comments

rahul said…
Thanks for great information you write it very clean. I am very lucky to get this tips from you


Tampa Business for Sale
April 28, 2012 at 4:09 AM
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 Estate Trends | Spring has Sprung

-
Image
As the flowers and trees start to blossom, there is another change in the air. With drops in foreclosure filings and a rise in the buying market, could Spring bring a new season for real estate? According to an article published by Housing Wire , Housing starts rise 7.2 % in March 2011. This is after a long decline of months. The data is collected from Department of Commerce, U.S. Census Bureau , and the Department of Housing and Urban Development every month to compare to previous months and previous years. March reached the highest peak in 16 months. Another noteworthy statistic to highlight is that RE/MAX National Housing reported that, “Home sales jumped more than 10% in 53 of the 54 metros tracked by RE/MAX between February and March”. This is a huge accomplishment in such a harsh season of retail. In this article it also quotes Freddie Mac in projecting that annual sales this year will be up a total of 5%. Another important thing that Freddie Mac monitors is foreclosure p
Read more

Renting is as Competitive as Purchasing a Home in Tampa Bay

-
Image
  The 411 on Tampa’s Rental Market   Tampa’s real estate market is one of the hottest markets in the country. Sunny weather, lower taxes, and quality of life result in an influx of new residents every week, however, the Covid-19 Pandemic substantially increased that number.   According to Fox News Tampa Bay, “"Every day, a thousand people are moving to Florida, and out of that, about 115 move to Tampa every day. You have all these people moving from New York City, moving from DC, moving from Connecticut, moving from Chicago, they’re from expensive cities, even from California! To them, Florida prices are affordable. Whether they’re home buyers or renters, they’re moving here with a lot of money to spend, which is jacking up prices.”   The rental rates in Tampa Bay and surrounding areas have increased 20% from last year placing Tampa in the top 5 metros for highest rent increases. This increase is a result of an extremely sparse rental inventory. At the moment, Tampa’s a
Read more