SI Real Estate Tampa and The Beaches

  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...

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...

Reduction in FHA insurance makes home buying more affordable   The President announced on Wednesday that the federal government will reduce PMI insurance premiums on FHA loans with the goal of making it easier for Americans to own a home. This is fantastic news for anyone in the market for real estate since this reduction will save home buyers an average of $900 a year. The lower insurance premium will affect 800,000 home owners immediately, as they will save on their monthly mortgage payments. This change is coming out at a great time considering all of the other positive news in the Real Estate industry the first week of 2015. Unemployment is down, gasoline prices are the lowest in 7 years and spending power is up. In the Tampa Bay market, SI Real Estate is already noticing the enthusiasm and buzz this news is bringing to the area. Federal Housing Administration loans are largely popular for many home buyers in America. “I want to talk about helping more families a...

Since 2010, the Floridian housing market has been stabilizing, and this pattern continues through 2014. According to Florida Realtors Association, Florida’s housing market has had an increase of sales and median prices since 2013.   In fact, the statewide total for single-family houses sold in October was over 21,800, an increase of nearly 18% since October 2013.   Statewide, even the sales price of single family residences has increased nearly 5%. Be assured, these are signs that the housing market is not only gaining momentum, but truly stabilizing and becoming a healthy and prosperous industry once again.  According to Sherri Meadows, President of Florida Realtors , October of this year marks the 35 th month in a row (nearly 3 full years) that the state wide median sales prices have rose for both single family homes, and for townhouse-condo properties. Florida is on track to close out 2014 with tremendous momentum, more than we’ve had in years. The statewide...