Thursday, April 25, 2013
Current Tampa Real Estate Market Conditions
Market Conditions for Tampa, Florida Reported by Bonnie Fagoh, REALTOR Updated April 21, 2013. Current Price Trend: 4 Rising WELCOME TO SOUTH TAMPA! Current Listings: 314 with 560 closings in the last 6 months, that is only 3.4 months of inventory! Time for prices to start up!! See below. Thinking of selling your home? NOW may be a great time! If you do not want to hold on for the long haul your Florida real estate, you may sell for more today than it would six months ago. Why? Because inventory is way down! I just tested the market on a couple of new listings, pricing them higher than what has recently closed. One went under contract in 4 days and successfully closed at only $7,000 under asking price (List was $200,000). And I listed a home over $200,000 when nothing has closed over $200k in the community for over 2 years. It closed for $210,000! I now have listings at $229,000 (just went under contract 4/15/13), $265,000 and $275,000 and we are getting plenty of showings! I took this position because I was not only looking at sold comps (looking back) but also looking at what a buyer had to choose from now (looking ahead). **There were only 7 available listings in a community where just 2 years ago there were 134 listings! Simple "supply and demand"….prices should head up! So if you are thinking of buying, BUY NOW. And if you are thinking of selling SELL NOW. **Get in on the flurry of activity from buyers who are in the market now. If you are fortunate enough to not be "upside down" (owing more than the value of your home), take advantage of those who are tired of the hassles involved in trying to buy a short sale. My experience lately has been that many buyers are willing to pay a bit of a premium for a non-distressed property. They like knowing when they can close and at what price! You may be thinking "why sell now if prices are going to head up?" Because we have no idea how much of the "shadow inventory" may hit the market in the next year. Plus, by selling now you can take advantage of the low prices AND interest rates on the BUYING side! Please don't be too discouraged if you are a short sale. We have systems in place to make the transaction as smooth as possible. We even offer a free 1 hour attorney consultation where you can be advised on what is the best route for your individual situation. Call me today at (813) 390-7606! Thank you, Bonnie Fagoh, Century 21 Beggins Enterprises Search all Tampa Bay properties at http://www.TampaCoastalHomes.com or better yet, call me for a FREE boat tour! ZIP Codes: 33606, 33609, 33629 Location Characteristics: South Tampa with Davis Islands and Hyde Park is the most desirable area of Tampa in which to live. Its close proximity to downtown allows you to enjoy an easy commute to work, as well as the night life, the arts, clubs, shopping and restaurants. Bay Area bands crank out reggae, rock, blues, country, punk, salsa and jazz at clubs and bars all over town. New on the party scene as trendy spots for a sophisticated crowd are Channelside Bay Plaza and International Plaza's Bay Street. If you enjoy the waterfront there is plenty of that as well. The area is excited about our Tampa Bay Rays playing in the World Series in 2008 and we may go again this year! It's possible! AND the Super Bowl Committee is impressed enough with Tampa Bay to have us host the Super Bowl for the fourth time!! Come see for yourself why people love it here!