Florida is on the rise again. Maybe you should move here too!

-

Almost everyone over the age of 20 has said the phrase “that’s it, I’m moving to Florida” at some point during their life. Usually it is said out of frustration with the weather, or another popular reason being high taxes elsewhere. In the 90’s and early 2000’s, Florida was an incredibly popular destination to move to. The younger crowds flocked to Miami or Tampa, the wealthy to Miami and Fort Lauderdale, and then the retirees to Naples or Fort Myers.   Since 2007 though we have been lagging behind…. Until recently.

Sean Snaith, director of the Institute for Economic Competitiveness at the University of Central Florida, says Florida's economy is now solidly passing the Nation’s. Not only are we recovering fully, but we are about to start leading the pack again. Tourism is back to full throttle. Booking hotel rooms or going out to dinner is becoming a serious issue again with all of the traffic. People are spending money again and are confident the economy has stabilized.

The real estate market is one step away from being at the level it was before the market crashed. New home sales have been extremely high in 2015. "Florida ranked No. 2 in new home permits to Texas.” Why are all of these new homes being built in Texas and Florida? The answer is jobs; people gravitate to places they can afford to live and put food on the table. Florida and Texas have been adding jobs since 2013, more and more by the month. Florida's annual job growth rate has exceeded the nation's pace since 2012. Florida also just surpassed New York as the third most populous state in the US!

Tampa Bay is thriving now too. We have the 2nd ranked airport in the world, all major sports teams in the city, close proximity to Disney World, top ranked beaches everywhere you go, Busch Gardens and other theme parks and last but not least- gorgeous weather year round. The SI Real Estate team here in Tampa is seeing a lot of activity on the MLS and inventory is dwindling. Tampa Bay is the 3rd most active market in the state and has a lot to offer, just like Miami and Orlando. Anyone who is thinking of relocating, should consider Tampa.  Ask us why we choose Tampa to live, work, and play.  SI Real Estate will assist if you have any questions! 

Sources:
http://insurancenewsnet.com/oarticle/2015/03/02/a-better-world-the-new-year-looks-positive-for-florida-a-602353.html#.VPY58_nF9ic

http://www.tampabay.com/news/business/florida-overtakes-ny-as-third-most-populous-state/2211244

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