When we are talking about Tampa area Real Estate it seems that, as with anything in life, we are not happy when we get what we ask for. I compare it to the weather--The especially cold, dry winter leads to the hot, dry spring that is now changing to a rainy summer. When it was cold we wished for the heat, when it was hot we prayed for a breeze, and in the small drought of spring we prayed for the rain. When the rain comes, for weeks on end, we are looking to the clouds wondering, "When will the sun peak through?"
So it is true in the Tampa area real estate market. In the height of Tampa Bay real estate, 2005-2006--the "hot" days brought much business, along with uneducated agents, and astronomical prices that left young families in need of starter homes not being able to afford one.
We wished for change and we got it. The dark days of Tampa area real estate, 2008-2011 were cold and still. Homes sat empty and unsold, banks were not lending, and the economy in general was forcing job loss and many out of the homes they had fought so hard to purchase.
Now, here we are in 2012 and the sky has opened up! Rain is falling and Tampa Area home prices are at a number that people can afford their "starter" home or move up in to the home of their dreams. People are once again relocating to the Tampa Bay area and we are seeing the area unemployment rates dropping! Combine the home prices with LOW interest rates and our supply of homes in the Tampa Bay area are FLYING off the market. The sun is peeking through the clouds! All small rainbow is forming, don't be wishing and waiting for the bigger one.
The Tampa real estate market is BOOMING--change has come. We are now seeing that "buyers market" in the rear view mirror--the only reflection of that buyers market are the still LOW prices and even LOWER interest rates. THE SELLERS MARKET has arrived in the entire Tampa Bay Real estate market. Inventory homes for sale are at a record low--ONLY a 5.5 months supply (just under 12,000 homes in Tampa Bay) and 47% of those listed homes are short sales or bank owneds.
Sellers--it is definitely the time to SELL your Tamp area home. Homes in the Tampa Bay area that are priced right and maintained are seeing multiple offers and selling at above asking price!
Buyers-Don't miss out on the most affordability EVER in the Tampa Bay area. Rock bottom prices and interest rates that will be moving up!
In Land O Lakes alone there are only 302 homes on the market! 1/3, 109, of these are distressed properties. As we continue to see the supply diminish, listing and selling your home fast is easier to do.
The key to any real estate transaction is to have someone representing you and your interests in this ever-changing market. Knowledge, drive, follow up and follow through are the main factors in this.
If you have questions, comments or concerns about anything Tampa Real Estate related please don't hesitate to call Tonya Bouvette 727-946-7296
Check out all area homes, buyer and sellers guides at www.RealEstateLandOLakes.com