SI Real Estate Tampa and The Beaches

May 2014 was a spectacular month for the real estate market throughout the nation. If you don’t feel like the market is recovering, here are some facts for you to consider. 1.     Total existing home sales , including completed transactions such as single-family homes, townhomes, and condominiums, grew 4.9% to an annual rate of 4.89 million in May 2014. This gain is the highest increase since August 2011. Higher sales volume is a great sign for the market as buyers are being more confident. According to National Association of Realtors (NAR) chief economist, Lawrence Yun, “home buyers are benefiting from slower price growth due to the much needed, rising inventory levels. Moreover, sales were helped by the improving job market and the temporary but slight decline in mortgage rates.” 2.    Total housing inventory in May increased by 2.2% and reached a total number of 2.28 million existing home available for sale. The number of homes represents a 5.6 ...

The World Cup is back. Brazil, the country where it all began, spent over $12 billion dollars to host the biggest futbol (soccer) event in the world. As 32 countries battle each other for the next few weeks, there are many beautiful things we can look forward to such as the amazing atmosphere, cultural treasuries that Brazil has to offer, and of course the actual performance of the teams. The entire country of Brazil is behind its own national team and expects nothing but winning it all. Brazilian president Dilma Rousseff welcomes all the futbol fans, “I’m certain that in the 12 host cities, visitors are going to mix with a happy, generous and hospitable people and be impressed by a nation full of natural beauty and which fights each day to become more equal.” The United States are hoping for a good fortune after beating Ghana in the first game of the tournament. Trying to advance out of the so-called “group of death” including Germany, and Portugal, the U.S. team will have to ...

Nationwide economic growth is projected to increase to 2.9 percent from the estimated 2.6 percent growth in 2013, according to Fannie Mae’s Economic & Strategic Research Group reports. This increase can be attributed the return of consumer confidence following the government shutdown last fall, which affected hard working men and women across numerous industries.  With rebounded optimism, an increase in both consumer and business spending is expected to boost overall economic growth throughout 2014. A significant driving force contributing to economic growth, according to Fannie Mae’s Chief Economist Doug Duncan, is the continued improvement in the real estate market. RealtyTrac published some encouraging statistics in its most recent Foreclosure Market Report, which recorded a 26 percent decrease in foreclosure fillings from 2012 to 2013. With decreases in foreclosure fillings comes an increase in the strength of consumer housing attitudes, which allows for the continu...

After a double digit increase in home prices and sales occurred in 2013, this positive trend in the real estate market will continue throughout 2014 as well. As greater Tampa Real Estate professionals, SI Real Estate team is confident that the recovery of the housing market, job growth, and lower unemployment rate will continue to make housing more affordable. Here in the greater Tampa Bay area, there will be more homes available than there have been in several years. Homebuilders have regained enormous trust in the housing market and have started building more new homes than we have seen in many years!   They cannot build homes fast enough. This will help to increase real estate inventory and satisfy the high customer demand for both new and resale properties. In addition, according to Lawrence Yun, chief economist as the National Association of Realtors , “2013 has marked the second straight year of a very respectable recovery with a 20% cumulative increase in exi...

SI Real Estate would like to wish our friends, family, clients, and associates a very Happy New Year! We wish you happiness, good health, and prosperity throughout 2014 and beyond. 2013 was a wonderful year for SI Real Estate, and we sincerely thank you for your loyalty and support. As the stabilization of the real estate market continued to improve over the year, it created extreme excitement about what 2014 may hold for the market, especially in our Tampa Bay area. In this blog, we will briefly discuss the most recent events that occurred in the housing market during the final months of 2013, as well as discuss what the real estate industry may see during the year of 2014. Looking Back Due to the short supply of inventory throughout the majority of 2013, the real estate industry witnessed some swift price increases resulting from the increased demand for homes. In response to increased demand, constructing spending reached the highest point the market had seen in the ...