SI Real Estate Tampa and The Beaches

Pending home sales rose last month to the highest level since 2006! Contract activity is also out pacing the December 2006 levels. While this activity is great, we should also be cognizant of interest rates and the pace at which they are rising. Some buyers are racing to the closing table so they can lock in current rates. At the same time, some sellers are doing whatever is necessary to secure a sale, even if that means taking a lower purchase price. The pace at which home prices are rising cannot continue forever as it is healthy when prices, sales and contracts are fluctuating in the right direction. Call us today to ask how you can take advantage of your local real estate market. 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 man...

According to recent statistics posted by the Greater Tampa Association of REALTORS® ( GTAR ), June saw a significant increase in home sale prices and properties sold, as well as a notable decrease in days spent on the market. While we may not yet be out of the woods, this raw real estate data shows significantly improvement conditions in the Tampa Bay market. According to June’s market statistics, units sold were up by as much as 14 percent from May 2009 and 23 percent from last June. Year to date, home sales are up by approximately 20 percent. The days properties spent on the market were down by 7 percent from June, with an average of 110 days for the entire Tampa Bay area. The most positive shift in June’s statistics was the increase in home sale prices throughout the Tampa Bay area. All sub-areas of Hillsborough County saw an increase in selling price with the exception of Town n Country. The average home price was up by $14,000 from May with the average selling price at $191,160. P...

There was great news for the Tampa Bay Area in regards to home sales last month. 2,839 homes were sold in the entire Tampa Bay Area with a median price of $135,000. These statistics illustrate a 17% increase in home sales for the same period last year, when 2,044 homes were sold. The median home price of $135,000 is a 25% decrease from $185,000 just one year ago. According to the President of the Greater Tampa Association of Realtors, Jack Rodriguez, “These statistics are extremely positive. Hopefully it signals a trend to better things ahead, both for real estate and the economy in general.” Forecasters at Moody’s www.Economy.com predict that home prices will bottom out at the end of this year nationwide. This prediction is largely based on the assumption that President Obama’s recovery efforts, which includes a 2009 tax credit of $8,000 to home buyers who have not purchased a home within the last three years, will have a huge effect. If you have any questions about the 2009 tax cred...