Tampa Real Estate & Builder Pulse: New homes abound around Tampa

-
A New Home may be the very best option for you to review! 

“Thousands of new homes are under construction in the Bay Area.” According to the WFLA and the Tampa Bay Builders association, Tampa Bay has been booming with constructions. Since 2011, the housing market has been steady, and new home building has been slowly increasing. This could be due to the continuously low interest rates on mortgages over the past 2.5 years.  There are at least 3,000 new home construction starts in Tampa Bay this year, and there are still more coming. 

Why new homes?  There are many floor plans and color options to choose from. You will enjoy less competition in the contract and offer process. Enjoy the streamline procedure of one stop shopping in a new construction development. These are just a few of the innumerable options available. 
Jennifer Doerfel, the current Vice President of the Tampa Bay Builder Association says that if consumer confidence stays where it is, there should continue to be an increase in building activity. This building activity has created hundreds of jobs in the Tampa Bay area, and will continue to stabilize the housing market through 2015.

The Tampa Bay Builders say their biggest challenge in this surge of activity is the lending community, of course.  Although in the past several years it has been somewhat challenging for some to get a mortgage, the rates still remain low. Recently, mortgage applications have surged 11.6%. According to this article, the average contract interest rate for a 30-year fixed-rate mortgages with jumbo loan balances have decreased to 4.03%, the lowest it has been since May 2013.  The average interest rate for a 15-year fixed-rate mortgage has decreased to 3.28%, also the lowest since May 2013.


If you are considering your real estate purchase options, you may want to consider buying a new home. Many of the stresses of purchasing a home can come from bidding wars with other home buyers. When purchasing a new house, not only will you be the first owner, but the only buyer.  A new home in Tampa bay may be just what you want for your next home. Contact SI Real Estate with any questions you may have. SI Real Estate has fantastic connections with new communities, home builders, and lenders. We guarantee quality service and satisfaction to our clients!   
Location: Tampa, FL, USA

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

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

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