SI Real Estate Tampa and The Beaches

  Hundreds of Northerners are Moving to Florida Each Day When Florida comes to mind, many used to think of a vacation spot or a place to eventually retire. This has all changed over time, but especially in 2020. Florida has become one of the hottest places to relocate due to the Coronavirus. According to the Daily Mail, around 950 people move to the Sunshine State each day. According to a Douglas Elliman August report, new contracts for single-family homes and condominiums continued to rise in Pinellas and Hillsborough County — after having doubled in July.   The Coronavirus lockdown resulted in many people reflecting on their lifestyles, especially for people that received work from home orders. Those living in major cities began to realize that working and living in a tiny one-bedroom apartment was just not ideal. Close living quarters in apartment buildings also began to make residents feel uneasy with social distancing becoming the new normal. The desire for outdoor sp...

  Buyer Preferences Shift as COVID Changes Our Daily Lives After months of lockdown, many homebuyers are rethinking what they want in their next home. Although the pandemic will not continue forever, it will have some long-term effects on our lifestyles and how we feel about public gatherings. During the quarantine, many people’s homes became their office, gym, and restaurant. The changes we made to our lifestyles during this time have changed what we want out of our living spaces.         When restaurants closed, we were limited to our homes to indulge in some good food. Luckily, many local restaurants opted for takeout options, even 5-star restaurants like Del Friscos and Capital Grill. However, the ambiance of eating at your dining room table or in front of your TV just isn’t the same. When the weather warmed up, those that lived in apartments or homes with limited outdoor spaces longed to be able to eat al fresco. Many homebuyers are looking for an outdoor s...

 Homebuyers Take Advantage of Record Low Mortgage Rates 2020 has sent every industry on a rollercoaster, especially residential real estate. During the lockdown, sellers pulled their homes off the market and buyers postponed their showings. The economy cautiously reopened and pent up buyers were ready to resume their house hunt.   Besides the 6-foot distance rule and normalizing face masks, the pandemic brought on a major reduction in mortgage rates. When we say major, we mean major. The average rate for the past five years was 4.05%, right now you can get a mortgage rate as low as 2.6%. This is the lowest we have seen in decades.     A mortgage rate is essentially the amount it costs to borrow money from lenders. When a homeowner pays their mortgage each month, the money goes towards paying off their home as well as paying interest to the lender. At first, most of your mortgage payment will go towards interest. Over time, more of your monthly payment will go to your...

  A Look into Tampa's Growing Neighborhoods in 2020   In the past few years, we have watched the once sleepy bay area transform into a vibrant city with pockets of lively neighborhoods. A variety of creative restaurants and rooftop bars emerged as well as chic residential dwellings.   A billion-dollar investment from Bill Gates attracted technology and consulting companies like ConnectWise and PriceWaterhouseCoopers. Multiple new Amazon facilities and the possibility of becoming the headquarters for Space Force is also sparking interest in the Tampa Bay Area. Many neighborhoods have been brought to life such as Channelside, Hyde Park, and the southernmost point at Tampa’s Marina Pointe Westshore! The sprawling city is still experiencing massive growth in areas outside of the downtown areas.   Earlier this year, BTI Partners and Jane Castor broke ground at Marina Pointe Westshore in South Tampa. Luxury condominiums are in the works along with boat slips an...

Do you prefer the charm of a home with history or the idea of a bright and shiny untouched single-family home in a new community?   One of the first decisions you will make as a homebuyer is whether new construction or resale home is for you and your family!   Below we explore a few pros and cons of both options. Remember that you’ll want to hire an experienced real estate agent that has experience with both scenarios to help guide you in making an informed decision. The best part? Your real estate professional will be at no cost to you as a buyer.   No cost, only benefits!   New construction homes   If you are in the custom home building option, you will be able to customize and personalize your home and select different upgrades prior to your home being built. This may increase your investment, however adding personalization may be worth it.   The ability to choose your flooring, or something in your bathroom, an island in the kitchen, or addi...

New Home Sales on the Rise Due to Pandemic   New stats have come in via LinkedIn that shows an interesting real estate market trend. New home sales have jumped a whopping 55% since last year.      This is a HUGE increase! We are observing that more and more people are taking a preference towards less congested areas with their own living space. This is not only due to COVID and the lockdown, but many millennials have begun to settle down and have families. The mortgage rates also have increased buyer interest in homes of all types!   New construction homes are gaining more popularity as well for the following reasons:  1. There is limited inventory as many occupied resale homes have been pulled from the market due to Coronavirus. Sellers do not want showings in their homes while they are still occupied which is understandable. If the home is vacant, by the time buyers submit their offers, the home of interest is already under contract. 2. The Millenni...

Who you choose to represent you when you buy or sell your home is one of the biggest decisions you’ll make during your move. Your real estate agent can make the process easy, quick, and painless – or long, expensive, and painful. Here are 5 adjectives you should for in your real estate agent if you want to get the most out of the sale of your home or your home purchase: 1. Tenacious Real estate is at times a complex world. There are seemingly endless challenges to navigate through: the house you love was snatched up by someone else; someone put a bid in on your home and then pulled out at the last minute; there are issues with the community, or zoning, or construction! These are some of the reasons why you need a savvy real estate agent who is tenacious, never gives up, and doesn’t stop until you have successfully bought or sold your home at the right price with the least obstacles. The best real estate agents are the ones who not only have plan B, but plan C, D, a...