Money’s BEST Big Cities | Tampa Is On The List..Here’s Why!

Money’s BEST Big Cities | Tampa Is On The List..Here’s Why!

Tampa has made Money’s 2015 “5 Best Big Cities” list, classified as “Best in the Southeast.” Whether you’re picking Tampa as a place to relocate, retire, or simply choosing to continue calling Tampa home, you’ll be pleased to see the city recognized in key quarters. Tampa is in the news, and in a good way. Most prominently, Tampa has made Money’s 2015 “5 Best Big Cities” list, classified as “Best in the Southeast.” What impressed the editors? The write-up mentions sports, of course, including ice hockey and the Lightning’s try for the Stanley Cup as well as 2017’s college football national championship. There’s also room for celebration of the arts, and it’s great to see the arts getting well-deserved praise. The Tampa Museum of Art’s contemporary collection is a draw in a “stunning new building,” and the city’s hosting of the 15th International Indian Film Academy Awards – the Bollywood Oscars – also puts Tampa on the map. Median home price is listed at $121,200, which stacks up against the other four “best cities” on the Money list: Pittsburgh in the Northeast with a median home price of $115,200 Omaha in the Midwest with a median home price of $116,300 Mesa, Arizona, in the Southwest with a median home price of $172,500 Denver in the West with a median home price of $288,800 Tampa’s real estate prices are still more than a third below the peaks reached in 2006, the article points out, which is a boon to those looking to relocate in a town that offers good value in housing. A three-bedroom historic bungalow in trendy Seminole Heights...
FL: Still No. 1 in The US for Foreclosures | Million-Dollar Sales Increase by 93%

FL: Still No. 1 in The US for Foreclosures | Million-Dollar Sales Increase by 93%

Florida: Still No. 1 in the United States for foreclosures, while million-dollar real estate sales multiply in Tampa, St. Petersburg metro area Foreclosures in Florida are down 22 percent from last year, but Florida is still the state that dominates the list of metro areas with the highest foreclosure rates. In fact, of the 10 metro areas with the highest rates, eight are in Florida. And here’s another figure that sets Florida apart: Length of time to complete the process. It takes more than two-and-a-half years (989 days, to be exact), on average, for the clock to run out on a foreclosed home. So if you’re eyeing all those tempting pre-foreclosure listings on Zillow, you could be waiting a very long time before that home gets listed for sale. Here are some fascinating figures from Hillsborough County: Short sales are down almost 31 percent over last year (trending downward from 104 to 72) Sales of homes priced at $1 million or above are up 93 percent – a higher jump than in any other price range Lump all the price ranges together in Hillsborough County, and home sales are up more than 27 percent Homes are selling faster in Hillsborough County than they were a year ago (spending 20 percent fewer days on the market before sale) A year ago more than four-and-a-half months’ worth of inventory existed, and that figure has now shrunk to less than four months As I’ve said in the past, sellers should strongly consider putting their homes on the market now before interest rates increase! All of this comes against a backdrop of U.S....
Tampa Real Estate is a Seller’s Market as Buyers Compete with Little Inventory.

Tampa Real Estate is a Seller’s Market as Buyers Compete with Little Inventory.

Buyers struggle to find more options in the Tampa Real Estate Market Buyers are out there, and the inventory is low – both nationally and in our region – for existing single-family homes. Those are two important facts to keep in mind if you are thinking of putting your home on the market. If you need a nudge, remember that sellers should strongly consider putting their homes on the market now before interest rates increase! Around the country, fewer homes are on the market than are needed to meet buyers’ demands. In real estate terms, the industry is buzzing about “inventory shortages.” For instance, the chief economist for the National Association of Realtors, Lawrence Yun, points out that “as a result, home prices are up and accelerating in many markets.” He adds, “Homeowners looking to sell this spring appear to be in the driver’s seat, as there are more buyers competing for a limited number of homes available for sale.” And you probably didn’t miss the main headline from the National Association of Realtors association: Pending home sales rose in April for the fourth straight month and reached their highest level in nine years. What follows are details about home prices, inventory and length of time on the market in the Tampa area. For the Tampa real estate market, the median sales price of a single-family home in Hillsborough County went up from $168,000 to $195,000 over the past year, according to the Greater Tampa Association of Realtors. The data show that more transactions are happening, with the number of sales up by 20 percent. With home prices rising,...
2015 Housing Market Forecast | Tampa Real Estate Market Trends

2015 Housing Market Forecast | Tampa Real Estate Market Trends

Will 2015 Be A Seller’s Market in Tampa Bay? Here’s my 2015 Housing Market Forecast and Predictions! This is the time of year when experts in every industry make predictions about what will and won’t happen in the coming year, and real estate is no different. My big forecast for 2015? We are definitely in a seller’s housing market, especially here in Tampa Bay — where we saw an 18.4 percent increase in closed sales from November 2013 to November 2014. A lot of the discussion from real estate industry experts so far in 2015 has centered around first time home buyers, which only makes sense — there’s a new 3-percent-down conventional mortgage available for first-time homebuyers, which is great news for them. After all, a 3 percent down payment could mean the difference between homeownership and signing a rental lease for one more year. Mortgage rates also hit near-historic lows in 2014, and that’s also great for buyers … but experts are predicting that they’ll start to rise again in 2015. So that buyer advantage isn’t going to last forever. Demographics will have an effect on the market, too. Millennials are expected to be one of the biggest demographics in that first-time homebuyer group — about 65 percent. As this generation gets married and plans families, they’re looking for a little piece of their own American Dream, too. Trulia’s Rent vs. Buy study said that it is 43 percent cheaper to buy than to rent in Tampa Bay (assuming you are putting 3.5 percent down and will stay in your home for seven years). So buyers are definitely...
Luxury Waterfront Home Market Statistics 2009 vs 2015-Tampa, FL

Luxury Waterfront Home Market Statistics 2009 vs 2015-Tampa, FL

In the Tampa Bay Area defining a luxury home community usually means a large waterfront home in a desirable neighborhood.  How is Tampa, Florida’s Real Estate Market performing in high end home sales? In 2009 the average waterfront home listed for sale was a 4b/3b, slightly over 4,100 sq ft.  These properties are either bay front, lake, or riverfront for purposes of this comparison.  Producing an average list price at 1,457,000 and $366.00 per sq ft. Today, in 2015 the numbers have changed. The size of home is still an average of  4b/3b, square footage is a little less at 3,430 sf and list prices on average have come down to $1,098,320 making our average list price per sq ft for waterfront homes $289.00 For sellers who want to sell their home you’ll need to be priced accordingly. Be flexible on pricing your home to sell.  Buyers have hundreds of homes to choose from for sale just in Tampa. Pinellas County is also quite competitive for those who want to be closer to the beach. If you would like to speak with a Real Estate Agent about buying or selling your home, please contact Rae Catanese 813 784 7744 or...
Tampa Bay Housing Market vs. U.S. Housing Market [STATS]

Tampa Bay Housing Market vs. U.S. Housing Market [STATS]

The Tampa Bay Business Journal posted an article today on the current national housing market stating that “Existing Home Sales Fall for the first time in the past 5 months.” This was likely due to investor activity in the real estate market decreasing. Home sales declined nationally at 1.8%. The median price actually rose 4.8% from the same time last year. Stats were compiled from the National Association of Realtors which says that investor purchases fell from 16% in July to only 12% in August.  This is great news for first-time home buyers as levels of inventory are creeping back up, giving them less competition and decreased chances of “bidding wars” and all cash purchases. It all sounds good for buyers, but the national stats are not consistent with our local Tampa Bay Regional statistics.  Our region actually saw an increase in price, and another decline of inventory making August the lowest month of inventory for the entire year at 3.9 months. Tampa Bay’s average sales price in August rose from July 2014 by $3,427.00. If you have been thinking of selling your home, now is the BEST time to get it on the market while inventory remains low.  Contact me here to request a market analysis and find out what  your house is really worth. You can see all Tampa’s MFRMLS_Stats_Tampa_2014_August here.   Watch Bloomberg Housing Market Video here:...