SI Real Estate Tampa and The Beaches

Dear Readers, As anyone will tell you, the past year or two has not been the best for real estate, to say the least. However, it is not all doom and gloom here in the current real estate market. As this article explains, many of Tampa’s most respected developers remain so confident the market will rebound that they are continuing to invest their money in the construction of new homes. It is encouraging to see such seasoned and knowledgeable entities continue to put their faith in our market. It is important to remember that there is still opportunity in a down market. These developers are a perfect example of that. By taking advantage of the characteristics of our current market, they plan on turning a negative market into a positive pay-off. They understand that the Tampa Bay area has always been a dynamic market with a history of resiliency and continuity, and that despite the overall pessimism, there is still plenty of room for success. Best Regards, The SI Team

Hello Readers, With so many price changes in so many different markets across the country, it can be difficult to know if today's real estate is accurately priced. As this article states, the Tampa Bay area is one of the few regions in the US that has not fallen victim to price drops that result in undervalued properties. This is great news for those who have been concerned about continued volatility in pricing. This is an indicator that the Tampa Bay real estate market is finally achieving stability, which is more than most markets can say. Tampa's stability (in an unstable market as a whole) translates to desirability for buyers and sellers alike. Transactions can be undertaken without the fear of unpredictable price fluctuations, making investors jittery. This environment facilitates the flow of commerce by removing second guessing and speculation from the equation. Tampa Bay real estate participants can be thankful for this silver lining on what has proven to be a rather la...

Dear Readers, While the market seems to be ranging anywhere from challenging to depressed in many regions nationally, the Tampa Bay Real Estate market continues to get positive outlook about its future. With all of the negativity that has swirled around the real estate market, it is important to remember that unlike the old adage “what goes up must come down”, is the flip side: What goes down must go up. Just like every other business cycle, as time goes by, the real estate market appears as a series of peaks and valleys. It is no secret that we have been experiencing one of these valleys. But as time has taught us, the market will rebound, and it is important for us not to forget that fact, or it will be easy to miss out on wonderful opportunities. The buyer’s market that we are presently experiencing will soon be realized by many investors, making it an absolute necessity for savvy individuals to get in on the ground floor while the getting is good. The Tampa market is a great place ...

TAMPA, Fla., Aug. 23 /PRNewswire/ -- Representatives from Phillips Development & Realty, LLC (PDR) announced today the closing of construction financing of Le Jardin, a 401-unit, Class A apartment community in Tampa's desirable Westshore business district. The $69 million financing deal is the second largest in PDR's history. Le Jardin is the company's most fiscally significant project in the Tampa market to date and is proving to be PDR's largest development ever based on number of units per single phase. The community will bring upscale, conveniently located dwellings to a prestigious area which previously lacked a residential component. "Every project site we choose is carefully considered to achieve the best possible outcome for residents and investors," said Donald Phillips, Managing Director for PDR. "We are especially proud to begin Le Jardin since it's an opportunity to invest in our own community." Senior contributing lende...

Where will real estate bounce back fastest? Prices have hit bottom in some cities and are heading back up, but recovery rates vary. Here are the places with the best prospects. By Matt Woolsey, Forbes.com When it comes to real estate, the questions on everyone's lips are: How low is low, and when's the perfect time to buy back in? That moment has passed in Seattle and in Charlotte, N.C. Both metro areas hit bottom in the first quarter of 2006 and have since posted price gains of 12.3% and 6.3%, respectively, according to National Association of Realtors (NAR) data. Ripe for investment? Philadelphia and New Orleans. Based on housing inventory and local economic conditions, both should hit price troughs by year's end and bounce back with moderate gains of around 4% in 2008. In markets expected to recover more slowly, such as Boston and Denver, low buyer confidence coupled with a surplus of housing stock has lengthened the slump. NAR chief economist Lawrence Yun points out tha...

  We are going up!  Up into high rise condos!  If you drive into down town Tampa these days things are looking a little different. South Tampa’s real estate is creating a classic and chic architectural skyline due to the prominently designed buildings that are developing in South Tampa, specifically downtown Tampa and Channelside. Many are ready to be occupied and many are still to come. When all is said and done, Tampa is going to be one chic, contemporary city.  It is the desired Urban Experience that is bringing in folks from the suburbs to live, work and play in the same district.  There is no doubt that South Tampa real estate is moving on up. The Place at Channelside, Grand Central at Kennedy, The Ventana, Residences at Franklin, The Slade, SkyPoint, and ParkCrest at Harbour Island are only a small handful of the buzz worthy condominiums ready to make a name for themselves in this high end Tampa neighborhood. There is no doubt that down t...

I have some great news regarding property taxes in Florida! Apparently there have been some verbal negotiations between house and senate leaders that gives them an outline for a more comprehensive plan to be completed at the special session this month. Mark Rubio the House Speaker and Ken Pruitt the Senate President agreed to a basic outline that would address long term and short term needs. This topic is in flux and it is a complicated one - I'm trying to make sense of it. Short Term Solution From what I understand the short term solution will cut taxes county by county (and municipality by municipality) commensurate with how much they increased over the last several years. Counties that had gigantic increases will have larger cuts, and counties that didn't increase taxes as much will have smaller cuts. Long Term Solution This piece really excites me. It will be a tiered super exemption. The first $100,000 will be 70% exempt, the next $100,000 will be 50% exempt ...