Have you been waiting for the “bottom” to buy a home? It may be passing you by!
At least in the Tampa Bay area, some communities are seeing price increases. Some of the home builders, such as DR Horton’s Tampa Division, are increasing prices. Buy now to beat the price increase in all 22 of their communities from Tampa to Sarasota. I have also seen price increases from Lennar and Khovnanian. Resale inventory has been drastically reduced, and I have had many recent clients opt for that brand new home with full warranties rather than the long wait on a short sale that they have to buy “as-is”. But I have noticed there are more non-short sale listings on the market as of late. In one Apollo Beach community out of the 19 active listings, only one is a bank owned, 9 are short sales and 9 are regular sales. Just a few months ago, most were short sales. The regular sales are helping to raise values in the neighborhood.
If you have been following my blogs, I apologize for taking so long since my last one. There has been such a flurry of activity I have had no time to write! Word is out that Florida Real Estate is a bargain again and they are coming from NY, Ohio, Michigan, Massachusetts, Texas, and all over Canada. I have had several younger clients already in Florida buying their first home and what deals they are getting from the builders! How about 2300+ sq ft on a conservation lot with granite, stainless appliances, all closing costs paid in a gated community for only $169,900? That was the most recent new home sale I was able to negotiate for my clients. But don’t think these deals will last forever.
Developers believe so much in this area’s rebound that they have just broken ground on a massive master-planned community in Apollo Beach, one of the largest in the country since the housing bubble burst. When finished there will be as many as 6700 homes with over 200 homes in the first phase , opening in September 2012. Prices are expected to start around $160,000 and go up to $300,000. This will be the newest Newland Community in the area. Newland has been very successful with beautiful communities such as Fishhawk, Mirabay and Covington Park.