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 ...

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 ...

Excellent news - the U.S. real estate market is rebounding faster than expected. For the first time in five years, existing home sales have increased for four consecutive months., the National Association of Realtors announced today. Existing home sales, including single-family homes, townhouses, condos, and co-ops rose 7.2 percent to a total if 5.34 million in July. An NAR survey showed that 30 percent of the homes purchased in July were by first-time home buyers, as buyers have started to come off the fence to take advantage of the $8,000 tax credit. The National Association of Home Builders/Wells Fargo Housing Market Index reached 18 this month, its highest level since June 2008. The numbers show that confidence among home builders is continuing on a steady rise. This increase can be contributed to buyers taking advantage of the dramatically discounted home prices, with nationwide housing affordability continuing to hover near its highest level in more than 18 year and the $8,000 ...

Although U.S. real estate prices have taken a hit during the troubled economic conditions, there are reasons to cheer if you are looking for diversity in your investment portfolio. While the discounted prices may not be good for short-term investors who wish to purchase real estate in a booming economy and then immediately resell it for a profit, investors with a long-term vision see bigger opportunities. With the ever changing conditions of the U.S. real estate market, right now appears to be the best time for bargain hunters to grab cheap properties that will grow in value over time. According to “Three reasons for cheer for the overseas property investors” published by Assetz Property News Services, “whenever the recovery may come, be it in the next few months, not until the end of the year or even well into 2010, the acquisition of something for a low price now may look like a very good deal in 2014 or 2015.” With evidence of U.S. market conditions turning around, investment decisi...