SI Real Estate Tampa and The Beaches

We are hearing more and more about Millenials in the news, and how this new group of 90 million “Generation Y-ers” is finally reaching the time to consider homeownership. While many will point out that student debt and credit standards may keep these potential homebuyers on the sideline, even more hold high expectations that the largest demographic in the nation’s history will continue to be a major player in today’s real estate market. Encouraging signs that timing is working in favor of the Millenials show that median debt of households made up of people ages 35 and below has diminished by 29% from 2007- 2010. For example, a recent survey by a national home builder shows that over 65% of renters’ ages 18-34 have an income of more than $50K. This same survey shows that 30% of home sales are to first time home buyers who fall into the 18-34 year old age group. Tampa, Florida has seen increased building permits and home starts this year as inventory continues to evaporate and a lar...

International consumers have always played a vital role in American economy. Today, more than ever, internationals from neighboring and distant countries are contributing to our real estate recovery both on a local and national level. Individuals from a variety of countries have homeownership increasing to around 36% from 2000 to 2010 and by 2020, it is expected that 50% of all home buying will be fueled by international home buyers. If those numbers don’t seem significant, consider 100 billion worth in mortgage loans! Florida is a “gate way” state in which many internationals choose to invest. Our close proximity to Mexico and other Caribbean countries makes it attractive for those desiring the “American Dream”. Many foreigners find our Florida market so attractive because of favorable exchange rates and similar climates. Our Canadian neighbors to the north are streaming into states like Illinois, New York and New Jersey at rates we haven’t seen in quite a long time. Californ...

Recent data released by Florida Realtors Association indicates that the Florida housing report for Q1 was quite favorable. In fact, sales, pending sales, median prices, and closings all saw increases! Single family homes, townhomes, and condo properties experienced increases in median sales price, which is the 15th consecutive month we have seen such an increase in Florida! All of this real estate activity continues while housing inventory and mortgage rates remain extremely low. Home buyers are feeling the constraints of the low levels of inventory, especially in the new home purchase arena. Prices continue to climb, some on a month-to-month basis and others less frequently. The median days on the market for a home to sell has dipped down to only 57 days for single-family homes and 61 days for townhomes / condo properties. At least 50% of the homes in Florida re selling in less than 2 months, GREAT NEWS! Closed property sales, typically 30-90 days after buyers and sellers go t...

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!  ...