SI Real Estate Tampa and The Beaches

Home prices and exchange rates play a huge role in the number of Canadian's who own homes in Florida. Over a half million Canadians call Florida home and that number is continually growing. Follow the link for more details.  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!”  http://www.floridarealtors.org/NewsAndEvents/article.cfm?id=289951  

As a new demographic of real estate buyers and sellers enter the market, economists point out that the timing of younger millennials and older baby boomers coming to the closing table could not be more opportune. A recent study released this week from PulteGroup Inc. finds that demand for housing from people between ages 18-34 is rising at the same time that baby boomers are beginning to sell their homes. The percentage of buyers ages 18-34 with an average income of $50K or more has risen significantly since this time last year. On the same note, baby boomers entering 65 or older are expected to test the waters of the real estate market and list their homes for sale, says Arthur Nelson, professor of urban planning at University of Utah. Pultegroup also pointed out that about 30 percent of 2012 real estate sales were to first time home buyers. Vice President of Pultegroup, Fred Ehle added to the surveys finding by saying, “the combination of incredibly low mortgage rates, rising r...

Tampa, Florida has seen the home market react to trends throughout the real estate. While we are still finding our way back to “normal” we are noticing a new trend catching fire. New construction home interest and purchases have spiked at rates that new home builders cannot keep up with. Homebuilder Lennar Corp. posted first quarter results that showed a 40% increase in revenue from this time last year! CEO of Lennar, Stuart Miller recently stated, “Our first quarter results clearly reflect continued improvement in the marketplace. Current market conditions are driven by strong demand resulting from low interest rates and attractive home price, which have led to very affordable monthly payments, compared to increasing rental rates.” Real Estate in the real world: Our firsthand experience in Tampa’s real estate market reflects the national statistics. We are being inundated with buyer prospects that are tired of wasting money on renting, exhausted from competing with cash invest...

As we continue to witness the real estate recovery and its effect on our Tampa market, many home buyers and investors are scratching their heads and wondering where all the “great deals” went? Tampa, Florida has seen inventory fly out the window. Along with that inventory went most of the homes that investors and home buyers were seeking out. The FNC has recently reported that the price between homes’s foreclosed value and original market value is finally beginning to close. The average price discount for a distressed property was around 25% of the homes market value. By the end of last year this number has been cut in half and now sits around 12.2%! Not much difference anymore!  Buyers and investors are more and more being out bid by other buyer and investors.  In many cases it is simply a price gap and offers being too low. Many Tampa, Florida communities have seen this first hand and quite a few home buyers and investors are not catching on to the trend… yet!  ...

In today’s real estate market many industry professionals are dealing with the lowest level of housing inventory in many years to show their ready and anxious home buyers. On both a national level and locally in Tampa Bay, we have experienced the effects of the dwindling inventory as it relates to real estate options. We are frequently encountering multiple offer scenarios and bidding wars between buyers and sellers requesting highest and best offer.  New home construction is gaining tremendous momentum and offers home buyers enormous options and appeal. Various areas of Tampa, Florida are on the right side of this opportunity.  We have always enjoyed the benefits of newly developing communities, new home starts, and luxury of turning to new homes as viable options for our home buyers. The U.S. census reported that about 36.5 million people moved into a new home in 2012! The demand for homes in Tampa, Florida is clearly up and mounting. Last year concluded on a high...

Many real estate home owners have been waiting for the right time to sell their homes. Some stated reasons are that the market has not completed the correction, or they are waiting for home prices to continue to rise. These reasons often draw attention because some are not entirely up to the minute with real estate market pulse and how favorable the conditions are for sellers in today’s real estate arena. Now more than ever, inventory levels have fallen more than 68% here in Tampa, Florida.  Available homes on the national level fell almost 2 million units last year!  Simple supply and demand would tell home sellers that your property is worth more because inventory is down. A national home data provider, Corelogic reported that home prices haven’t jumped this much in the last 6.5 years, and that this is mainly due to current tight home inventory. The end of 2012 showed an 8.3% increase from the prior year, an annual gain that hasn’t been felt since May 2006! Cor...

While more and more positive real estate news trickles in, we examine some of the direct causes of these seemingly endless, yet favorable outcomes. Housing inventory has waned over the last year . So much so, that we have seen the amount of homes available on the national level drop by about 1.8 million units.  At a more local level, Tampa, Florida has seen a dramatic decrease of 68% in home inventory!  So we ask, why so low?  Well, about 22% of homeowners remain underwater with their mortgages. Sellers are usually deterred from listing their home if they have to bring cash to the table or embark on a short sale. Now that home values are finally bouncing back, both home values and the amount of sellers who owe more than their property is worth are two factors that will continue to have an impact on home inventory. Investors are always trying to grab the best deals that produce the highest returns. This usually involves paying cash for real estate pur...