SI Real Estate Tampa and The Beaches

Have you thought about purchasing a home, a condo, or townhome instead of continuing to throw your money away on rent every month? We regularly share with our customers that for years the market in Tampa Florida has been leaning in favor of buyers. Right now there is some incredible real estate buying opportunities to take advantage of. According to a press release August 16, 2011 by Freddie Mac, the HomeSteps program is offering a $1500 incentive for qualified buyers in order to put towards condominium association dues. They will prepay condo dues for the new homebuyer to get adjusted into the property. In addition to condo cash, qualified homes may also receive a two year home warranty. To find out more information about what offers there are in the market to help you find your next home, please contact SI Real Estate at 813.631.5144 or email us at Yourhome@sirealestateinvestments.com .

Tampa’s real estate recovery has surely been underway in 2009, with changes in the housing market taking place throughout the Bay area. Appropriately priced Tampa homes spent fewer days on the market this year, banked owned property inventory saw depletion, and new home starts began to increase in mid-2009. The first-time home buyer tax credit gave way to significant results in the Tampa real estate market, with home sales soaring during the last few months leading up to its anticipated expiration date. Multiple offers were placed on discounted properties as many first-time home buyers hurried to take advantage of unprecedented deals. The Internal Revenue Services reported that more than 105,000 Floridians had applied for the credit prior to its extension. This positive rise in real estate market activity was not restricted to the Tampa Bay area in 2009. The St. Petersburg Times reported in November that all 19 Florida metro areas reported year-over-year gains in home sales. Tampa, bei...

“Home sales will increase 15 percent to about 5.7 million units in 2010” stated the National Association of Realtors Chief Economist Lawrence Yun late last week during the 2009 NAR Conference and Expo. Yun credits the popular first-time home buyer tax credit for the surge of home sales in the market, with the expectation that the extension to the program will continue to drive an increase in real estate sales. NAR reported that this year’s first-time home buyer tax credit brought 400,000 first-time buyers into the national real estate market who may not have purchased a home otherwise. The incentive was successful in driving home sales throughout the U.S. The influx of buyers tightened the inventory of starter homes and helped reduce the fear shared by many current homeowners and sellers of continued price drops. According to the NAR, this positive cycle is expected to continue into 2010 with the extension and expansion of the tax credit, which includes a new credit for repeat buyers...

The backlog of foreclosed homes hitting the market is slowing the housing recovery in Florida. However, the Sunshine State is still proving its resilience with improving home sales for more than a year and is starting to show signs of a steady stabilization. Tampa area home sales are rising as the inventory of foreclosures is being absorbed by new home owners and those seeking vacation homes in the Florida sunshine. But the pattern of sales has been erratic with some months recording higher sales only to decline the next. The $8,000 federal tax credit for first-time buyers is helping to move the real estate inventory in the Tampa Bay area. There is clearly a sense of urgency and buyers are acting now and purchasing their dream homes. A large portion of sales are foreclosed properties and new construction that bankers and builders are slashing the prices on to move the inventory before more foreclosures and distressed properties hit the market. The sooner Tampa’s low priced properties a...