Why People are still Moving to Florida- Tampa, Fl

Could the Tampa, St. Petersburg area still be one of the BEST places to buy a home and enjoy the sunshine? I say YES! Will the Real Estate Market come back to some sense of normalcy? As long as we still have our best attraction.....beauty!

The other day I was searching the internet and came across a blog site by Robert Payne. He travels all over the world, takes amazing photographs and documents his journeys. Robert just happens to live in Tampa, Fl.

As I was searching his website, I noticed beautiful nature pictures of our wonderful Tampa Bay area. It reminded me that although the Florida Real Estate market is the worst it's been since the early 1990's, people still want to live here, and people are still relocating to Florida.

Sometimes we forget just how amazing our landscapes are, just how lucky we are to say "I feel like going to the beach today" and doing it! That is what living in Florida is all about. Not shoveling snow or having to carry layers of clothes, jackets and shoes. You may want to invest in a good umbrella though!

Robert gave me permission to post some of his photos to The Tampa Real Estate Insider. Not only is his site a wonderful resource but he's a nice guy too!

One of his posts pertains to Canoeing and Sea Kayaking. If you are an outdoors adventurer then you'll enjoy reading about his trips to Weedon Island Preserve, Hillsborough River and Fort de Soto Park.

Here's Robert's posting:
In the time I have been in the Tampa, Florida area I have managed to discover quite a few nice places to explore in a sea kayak. Many of them are within an hours drive of downtown Tampa and can easily be accomplished in a day or less. Choose from brackish rivers, saltwater estuaries and white-sand beaches; it is all up to you as to what you want to experience. ......read full story

Thinking about relocating to the Tampa Bay Area? Have a Real Estate question?
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Rae Catanese, PA and Michelle Jordan, PA
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Tampa Bay Area Voted in top 10 Cleanest Cities-Forbes Magazine

Ybor City-Tampa, Fl

Forbes Magazine recently released a report on America’s cleanest cities. The Tampa-St. Petersburg area ranked 8th in the top 10. The study was not based on just trash removal, but environmental aspects. The story written about the report noted specifically Partnership member company Tampa Electric Company “for going beyond federal and state requirements on emission reductions.” Way to go!

Want to live where the air is sweet, the water is pure and the streets are clean? Try the country. But what if you don't like the sticks? Then try Florida.

Led by Miami, the Sunshine State dominates our 2008 list of America's Cleanest Cities with four metro areas in the top 10--Jacksonville (No. 3), Orlando (No. 4) and Tampa-St. Petersburg (No. 8) all make appearances. Clearly, a state that relies so heavily on tourism and part-time snow-bird residents knows the value of keeping itself spruced up for company.

read full story

See Also:

Relocating to Tampa

What to know about relocating to the Tampa Bay Area

Thinking about buying or selling real estate in the Tampa Bay Area? Have a Real Estate question?
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Relocating? Consider three things when moving to Tampa Bay

Determining the most desirable neighborhoods means considering three things..........
Convenience, Location and Price

What is most important to you? Pick one of the three and narrow your search from there.

Convenience: I recently began working with a couple who has rented for the past five years in the Feather Sound area of St. Petersburg, but have realized that there is no better time to buy a condominium in the Tampa/St. Pete area than now. They are getting ready to retire which means the maintenance of a home is something they want to avoid. Isn't that what retirement is all about?

Location: These neighborhoods are located in a very convenient locations. They provide easy access to Tampa, St. Pete and major highways. Shopping and restaurants are all within a couple miles. For people who work at Raymond James Headquarters in St. Pete, or Franklin Templeton, the Feather Sound Community is an ideal location! Feather Sound is also 10 minutes to Tampa Int'l Airport and the Westshore Plaza Shopping mall.

Price: Although there are many great deals for all types of buyers today; buyer's who have the best chance of getting a great deal are able to pay cash and close quickly. My clients are in the driver's seat because they can do both! In this tight seller's market with almost a 2 year supply of housing inventory on the market Cash IS King! Every property on the market is negotiable; so ask for comparable properties sold with in the past year. Offer less and negotiate, negotiate....you are in the driver's seat.

As an experienced realtor who believes in showing properties matched to the buyers' needs, I was able to show them several properties in the Audubon Condominiums in Feather Sound and have located several more condos for them to preview as well in Clearwater.


Sunshine Skyway Bridge, Tampa Bay

If you are relocating to the Tampa, St. Pete or Clearwater areas and need advice on the best places to live, give me a call.

See also: Feather Sound Community-Clearwater, FL Golf Course, Grocery Stores, and more

Search MLS for homes for sale in Feathersound. See map of area, save favorites, findout what homes are selling for and more...Prudential Tropical Realty

Thinking about buying or selling real estate in the Tampa Bay Area? Have a Real Estate question?
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Rae Catanese and Michelle Jordan
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What makes a neighborhood desirable? Tampa, Fl

Picture a walkable neighborhood. You lose weight each time you walk to the grocery store. You stumble home from last call without waiting for a cab. You spend less money on your car—or you don't own a car. When you shop, you support your local economy. You talk to your neighbors.

What is Walk Score? We help people find houses and apartments in walkable neighborhoods. Walk Score shows you a map of what's nearby and calculates a Walk Score for any property. Living in a walkable neighborhood is good for the environment and good for your health.

What makes a neighborhood walkable?
Walkable communities tend to have the following characteristics:

A center: Walkable neighborhoods have a discernible center, whether it's a shopping district, a main street, or a public space.

Density: The neighborhood is dense enough for local businesses to flourish and for public transportation to be cost effective.

Mixed income, mixed use: Housing is provided for everyone who works in the neighborhood: young and old, singles and families, rich and poor. Businesses and residences are located near each other.

Parks and public space: There are plenty of public places to gather and play.

Accessibility: The neighborhood is accessible to everyone and has wheelchair access, plenty of benches with shade, sidewalks on all streets, etc.

Well connected, speed controlled streets: Streets form a connected grid that improves traffic by providing many routes to any destination. Streets are narrow to control speed, and shaded by trees to protect pedestrians.

Pedestrian-centric design: Buildings are placed close to the street to cater to foot traffic, with parking lots relegated to the back.

Close schools and workplaces: Schools and workplaces are close enough that most residents can walk from their homes.

You can go to the Walk Score site directly to find out information about any neighborhood. Just type in an address and go.

Hyde Park Village-Tampa, Fl

Some of our neighborhoods in Tampa that are popular and have these characteristics are:

• Hyde Park Historic District-Hyde Park Village, offers quaint shopping and dinning
• Palma Ceia
• Davis Islands
• Harbour Island
• Channelside District
• Downtown Tampa
• Bayshore
• Ballast Point
• Seminole Heights Historic District
• Downtown Tampa

To receive a list of homes, condos or townhomes for sale in these popular neighborhoods you may search MLS listings here,

or send us an email with your request.

Feel free to email or call us 813-784-7744
Rae Catanese and Michelle Jordan

Realtors.

Tampa Florida's Best Neighborhoods

It seems that everyone wants to know how to find the best neighborhood in the Tampa Bay area.

The website for the City of Tampa has many useful resources, which I've provided a list below.

Keep in mind this is only for the actual City Limits of Tampa.

I will be posting a similar report on Hillsborough County

which will include areas like

Westchase, and Citrus Park.

Here's a link I posted a while back on The BEST neighborhoods in Tampa so feel free to check it out.

Recently, I went back to the website for The City of Tampa and did some searching around. You really need to navigate the site because there is so much information.

For instance, the following information was listed under city "characteristics".

Not a link I would normally click on to find out where the schools and libraries are.

Hope this will help you find your perfect neighborhood.

Here's the direct link to all the information below

Lawn Watering Days
Places of Interest
Public Libraries

Public Schools
Street Cleaning

Thinking about buying or selling real estate in the Tampa Bay Area?

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2008 Economic Report-Tampa Real Estate Housing Market

Dr. Lawrence Yun, NAR Chief Economist gave a speech last week at the Greater Tampa Association of Realtors in Tampa. Myself, along with 200 other Real Estate agents attended the informative lecture.

His main focus was to let Realtors know to inform clients that our Tampa Real Estate Market is NOT the same as the National Market. National figures and statistics are much different. He emphasized the importance of buyers and sellers to contact an agent who can provide detailed information for specific neighborhoods, and to compare sold, list pricing and days on market on each community.

For instance, a home located in the Hyde Park area may not be the same as a home in Westchase, or Seminole Heights for many different reasons. We factor in Days on Market, How much inventory is available and what homes are actually selling for. You've heard the saying "location is everything"?

When you are starting your search, a Realtor can be an invaluable asset in being able to differentiate what the best price to list your home for based on these numbers. The same applies to purchasing.

I personally have seen an increase in buyer activity over the last 6 months. Dr. Lawrence Yun confirmed this by projecting the 2nd half of this year to see a decrease in inventory and an increase in buyers who have been "sitting on the fence" to move forward in making their home buying decisions.

Yun also stated that FL, AZ, NV & CA saw the biggest boom and are now experiencing the largest decline. This is why we are one of the Best Places to Buy Real Estate! The bottom is here.

The media met with him afterwards. FAR Early Bird picked up the Tribune article CLICK HERE and the Times article is HERE When meeting with the media, Dr. Yun said that 20% appreciation would be conservative in the next five years in Tampa Bay and should actually be significantly higher...another reason to buy now on the low side. He also said that Tampa, like San Francisco, would be a “superstar city”. He went on to say this is an anomaly that economists can’t explain, but being surrounded by water was part of the drawing power. This corresponds to what I heard Dave Ramsey say on CNN’s Larry King Live...that “people buying real estate now in Tampa Bay would look like geniuses five years from now”.

To recieve the Tampa Economic Report, send us an email with a request.

Thinking about buying or selling real estate in the Tampa Bay Area? Have a Real Estate question?
Feel free to email or call us 813-784-7744
Rae Catanese and Michelle Jordan
Realtors.

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Finding the BEST Neighborhoods in Tampa, Fl

Ever wonder how to find the best neighborhoods in Tampa?

Welcome to Find a Neighborhood. Your guide to obtaining neighborhood specific information including capital improvement projects, demographics, land use, maps, places of interest, association contacts, meetings, and more.

BEST NEIGHBORHOODS

Once you find the neighborhood you are looking for visit our website to search for homes

see also:

Why Tampa Real Estate is a good choice?

Resources for Relocation

The Best Places to buy a home

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CNN MONEY Report, Housing: Best time to buy in four years-Tampa, Fl

Home values have declined across the country, giving homebuyers the best buys they've had since 2004.

By Les Christie, CNNMoney.com staff writer
Last Updated: March 5, 2008: 10:40 PM EST

NEW YORK (CNNMoney.com) -- It may be the best time to buy a house in more than four years.

Home prices have dropped so quickly and so far that valuations - the difference between what a home should cost and its actual price - are the lowest they've been since 2004, according to a report.

The Cleveland-based bank National City Corp. (NCC, Fortune 500), together with financial analysis firm Global Insight, revealed Tuesday that more than 88% of the 330 housing markets surveyed showed price declines and improved affordability during the last three months of 2007.

"Housing valuations are almost back to long-term norms," said National City's chief economist, Richard DeKaser. He called current affordability "the best in the past four years."
But DeKaser cautioned that home prices could fall even further.

"This isn't to say home price declines are over," he said. "We could move below historic norms. By the end of 2008, housing markets could be broadly under valued."

"Declines are no longer confined to once-frothy markets," said DeKaser. The survey covered home valuations during the last three months of 2007, but DeKaser pointed out there's reason to believe that valuations are even more favorable for buyers today.

Price declines have continued into 2008 and interest rates, although they have inched up lately, have been steady or lower compared to late last year. There have even been wage gains; personal income rose 0.5% in December. Soaring foreclosure rates have added inventory to many housing markets, depressing home prices further.

The biggest gains in affordability occurred in California, Michigan and Florida, which are areas that have also been some of the hardest hit by foreclosures. Those states registered 43 of the 50 biggest price declines.

Read full article

See also:real estate market tampa (11)
real estate news (5)

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Article about how you can save money if you buy NOW-Tampa, Fl

View this Westshore Condo for Sale

Thursday, Feb. 14, 2008
Ignore the Headlines
By Dan Kadlec
Correction Appended: February 19, 2008

Famed Money Manager is perhaps best known for his timeless wisdom that you can beat the pros by focusing on stocks of companies where you either work or shop or have some other edge. But a more relevant Lynchism today is this gem: Ignore the headlines.

That's no easy thing. How do you tune out all the chatter and ink on recession, housing, subprime woes, the credit crunch, rogue traders, insolvent bond insurers, $100 oil and nukes in Iran? It's enough to make you sit on your thumbs and wait before making any big moves. But what, exactly, are you waiting for?

There has rarely been a moment in history when you couldn't scare yourself into doing nothing. And yet, as Lynch observed nearly 20 years ago, "in spite of all the great and minor calamities that have occurred ... all the thousands of reasons that the world might be coming to an end--owning stocks has continued to be twice as rewarding as owning bonds."

A top reason to not buy stocks, in Lynch's view, is if you don't already own a home--in which case, that should be your first investment, since an owner-occupied home is nearly always profitable. Through a spokesman, Lynch reaffirmed these views to me--housing debacle and all.

When prices are falling, few people have the discipline to buy stocks, a house, gold, art or any other asset. But those who do pull the trigger excel in the long run. As John D. Rockefeller famously said, "The way to make money is to buy when blood is running in the streets." And the streets are stained crimson.

Start with stocks. They have been pummeled this year. GDP braked sharply last quarter, and there has been plenty of panic about a recession. The Federal Reserve is slashing short-term interest rates at the fastest clip in decades. But if you stick to your steady, diversified plan while everyone else is retreating, you will be happy years from now.

For one thing, Fed rate cuts always lift the economy eventually, and the stock market typically starts responding just as headlines get gloomiest. Sure, the market could fall again before recovering. But the recession may be half over already--or we may avoid one altogether. You just never know.

As for housing, certainly some skepticism is in order. Formerly sizzling markets in Florida, Nevada, Arizona and California probably haven't seen the worst headlines just yet, though they may well be close. And "jumbo" mortgages, those more than $417,000, are likely to remain artificially high for a few more months while banks work through their credit issues.

But let's say you are emotionally ready to be a homeowner. You have good credit, plan to stay put for five years and have been waiting for the perfect entry point. It's time to get serious--before an inevitable rise in interest rates wipes out your advantage. "The thing that will make home prices stop falling is the very same thing that will push mortgage rates higher," says Jim Svinth, chief economist at mortgage firm Lending Tree. So anything you gain by a further drop in prices might be offset by rising financing costs.

Consider a typical home that sells for $218,900. You put down 20% and get a 30-year fixed-rate mortgage at today's rate of 5.5%. Monthly principal and interest come to $994.31. Let's say that 12 months from now the same house goes for 10% less, or $197,010. But by then the recession is history and the Fed is jacking up rates to stem inflation. If mortgage costs rise a point, to 6.5%, your monthly payment would be $994.94 and you'd have saved nothing.

Meanwhile, home prices might steady and sellers might become less willing to negotiate. And you have spent a year living someplace you'd rather not be.

It's more complicated if you must sell before you can buy. But that logjam won't persist forever--and if it appears you'll be trapped for a few years, try to refinance at today's lower rates. Risks always seem most acute when the headlines give you ulcers. But that's exactly when you should think long term--and get off your thumbs.

Thinking about buying or selling real estate in the Tampa Bay Area? Have a Real Estate question?
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How to research Crime and Sexual Predators in your neighborhood-Tampa, Fl

Some things we don't want to think about when looking for a new home is "how safe is the neighborhood". If you aren't sure why not find out? With as many homes as there are on the market in Tampa, buyers can be very selective.

If you are relocating from out of state, or just doing some research on your own, you can find the Sexual Predators in a specific neighborhood by searching the FLDE website.

This Neighborhood Search allows users to enter any address in Florida and search the Florida Sexual Offender/Predator Registry for any registered sexual offender or predator living within a 1 to 5 mile radius of the address entered by the user. You can also open a map of the search results by clicking the "Display Results in Map" link

You can also search Crime Statistics in the Tampa Bay area by going to TBO.COM and searching their crime tracker.


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Home prices falling at record pace in August-Best Time To Buy

ECONOMIC REPORT
Home prices falling at record pace in August
Down 4.4% over the past year in 20 major cities, Case-Shiller says
By Rex Nutting, MarketWatch
Last Update: 11:29 AM ET Oct 30, 2007

WASHINGTON (MarketWatch) - The 13-month-long decline in home prices in 20 major U.S. cities accelerated in August, with prices dropping a record 0.7% in the month, according to the Case-Shiller price index released Tuesday by Standard & Poor's Corp.
Prices were down 4.4% in the past year, the fastest decline in the seven-year history of the 20-city index. In the original 10-city index, prices have fallen 5% in the past year, the biggest decline since 1991.

"The fall in home prices is showing no real signs of a slowdown or turnaround," said Robert Shiller, co-creator of the index and chief economist for MacroMarkets, in a release. Read more.
"With supply overhang growing and mortgage financing tougher to obtain, home prices are going to soften considerably further in the quarters ahead," wrote Joshua Shapiro, chief U.S. economist for MFR Inc. The last time prices fell so much, it took more than eight years for home prices to return to their peak level.

In a separate report, the Conference Board said consumer confidence fell to its lowest level in two years in October, with consumers more pessimistic about job growth and less inclined to buy homes or major appliances. See full story.

The Case-Shiller index, which tracks multiple sales of the same homes, is considered by many observers to be the best gauge of national and metropolitan-area real-estate values.
Falling prices make it more difficult for homeowners to tap the equity in their homes or refinance their mortgages. Millions of homeowners who took out adjustable-rate loans in 2005 and 2006 face sharply higher mortgage payments this year and next, with foreclosures having already soared as the result of payment resets.

The biggest declines are the Rust Belt and in the former boom towns along the coasts. Prices are up in the Pacific Northwest and in areas of the South, but they're rising at a slower pace.
Prices could fall much further. In a separate report, analysts at Goldman Sachs figured that prices in California are about 35% to 40% overvalued, compared with past relationships between home prices and income growth. The median sales price of a home in California was $589,000 in August, Goldman said, but should be around $375,000, they said.

In the Case-Shiller index, fifteen of the 20 cities tracked in the index have seen prices fall in the past year, led by Tampa, Fla., with a 10.1% decline, followed by Detroit with a 9.3% loss. Indeed, eight of the 20 cities recorded their largest-ever year-over-year price declines in August.

Detroit had held the top spot for price declines among the 20 cities in previous months. A year ago, prices in Tampa had been rising at an annual rate of 14.3%.

Prices were up in five cities, led by Seattle with a 5.7% increase and Charlotte, N.C., with 5.6%. After adjusting for inflation of 2.4% in the past year, real prices were up in just three of 20 cities.
Here are the year-over-year nominal price changes for the 20 cities covered by the index:
Tampa, down 10.1%; Detroit, down 9.3%: San Diego, down 8.3%; Phoenix, down 8%; Miami, down 7.8%; Las Vegas, down 7.6%; Washington, D.C., down 7.2%; Los Angeles, down 5.7%; San Francisco, down 4.2%; Cleveland, down 4.1%; Minneapolis, down 4%; New York, down 3.8%; Boston, down 3.6%; Chicago, down 1.3%; Denver, down 0.4%; Dallas, up 0.5%; Atlanta, up 0.8%; Portland, Ore., up 2.8%; Charlotte, up 5.6%; and Seattle, up 5.7%.

Rex Nutting is Washington bureau chief of MarketWatch.

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Foreclosures Skyrocket-Article reveals where most foreclosures are in Tampa, Fl

Tampa Palms Townhome
I have been hesistant on posting articles related to foreclosures in the Tampa Bay area, however I found this article and thought it had enough info worth while. If you are looking to purchase foreclosures in the area check out these statistics. It may help you decide where the best places are to purchase your next property.

Foreclosures Skyrocket-
from the Tampa Tribune


Carriage Pointe is just one example of what's playing out in hundreds of neighborhoods throughout Florida and the Bay area.

The Sunshine State's foreclosure rate of one filing for every 248 households is second only to Nevada. In Hillsborough, Pasco and Pinellas counties, the number of foreclosure filings through September was 19,226, up nearly 131 percent compared with the same period last year, according to RealtyTrac, a California company that tracks foreclosures. That's up from 9,476 in 2005, the first year the company began its reporting.

Just last month, there were 4,365 filings in the three counties, and lenders took the keys back from 502 homeowners, RealtyTrac said.

The Tampa Tribune set out to find pockets of the Bay area that are feeling the foreclosure pinch more than others. The Tribune interviewed experts and homeowners, and analyzed public records and data provided by RealtyTrac and ForeclosuresDaily.com, a local company that sends researchers to courthouses daily.

The data show no neighborhood or price range is immune. Those in default are a mix of investors and people who bought primary residences. Neighborhoods with clusters of foreclosures were typically popular with speculators who purchased multiple homes. Many bought beyond their means with adjustable-rate and interest-only mortgages that fueled the 2005 real estate boom in Florida.

The idea was to sell or refinance before the low teaser rate went up. Now that the real estate market has slowed, that's no longer an option for many. Homes are sitting on the market for months, and prices are dropping.

The Bay area real estate market is expected to stabilize over the next two years, but experts say the neighborhoods where foreclosure rates are highest could suffer much longer.

"Those neighborhoods will have sharper drops in prices because you'll see more aggressive pricing to move homes," said Mike Larson, a real estate analyst with Weiss Research in Jupiter. "And when there are a lot of renters, prices could drop because renters don't typically take as good of care of the home as homeowners do."

RealtyTrac's data show the ZIP codes with the most foreclosure activity were in Port Richey, New Port Richey, Wesley Chapel and Riverview. The areas tended to be more densely populated and, in most cases, had intense residential growth.

But out of 145 ZIP codes in Hillsborough, Pasco and Pinellas counties, the one for Port Richey in Pasco topped the list with 716 filings, RealtyTrac data show. As retirees have moved out in recent years, first-time homeowners have moved in, often using nontraditional financing. The area also was a hot spot among investors looking for rental property.

In Pasco, foreclosures in New Port Richey and Wesley Chapel, where hundreds of new homes were built during the boom, have risen dramatically in the past year, too.

In Hillsborough, ZIP codes with new subdivisions were hardest hit. The Riverview ZIP code had 573 filings, more than any other in the county. But it was followed closely by an area north of Ybor City and the Sulphur Springs area in Tampa, which had 528 and 538 filings, respectively.
Hillsborough and Pasco had ZIP codes with the highest total foreclosures, but Pinellas also has been susceptible. Some areas, such as neighborhoods in south St. Petersburg, have had a lot of foreclosures because of high investor activity.

Housing: Buy, Sell or Hold? It's Your Call Alone

Housing: Buy, Sell or Hold? It's Your Call Alone
By Diana Olick
CNBC Real Estate Reporter
cnbc.com
27 Sep 2007 03:47 PM ET

There’s been a lot of talk in the last few days about what you should do if you’re looking to play the real estate market today. Jim Cramer said on the "Today" Show Wednesday, “Don’t you buy now. Don’t you dare buy a home now. You will lose money.”

I don’t think it’s politically prudent for me to say what I think of those comments, especially since he has an hour show that makes lots of money, and I’m just a day-laborer with a housing beat, but suffice it to say, there are other opinions, and then there are facts.

Let’s talk about value for a moment, because that’s fundamentally what any consumer is looking for. Prices on a nationwide basis are falling, down further for new homes than existing homes, but down nonetheless. That’s on a nationwide average. Market to market there are certainly cities where prices are in the midst of a free-fall, like San Diego, Detroit, and Tampa, while others are still rising, like Portland, OR and Seattle, and still others are improving in their declines, like Boston and Chicago.

If you’re looking to buy a new home, happy days for buyers are here. Builders are offering every incentive in the book, and your dollar is going farther than ever before. Will prices continue to come down? Probably a bit, but they’re already off their highs, and base sticker price doesn’t mean much anymore. You can negotiate everything including the kitchen sink.
On existing homes, you have to look at your market. I live in a very nice section of Washington, DC, where sales really and truly slowed over the spring and summer, but are picking up this month. I think sellers have dropped prices, and now may be a great time to buy before prices start skooching back up again. Is this the case in Miami? Hell no! If you’re looking to buy an existing condo in Miami, wait a few months and you’ll get a better deal.

All I’m trying to say is don’t be a generalist. I’ve said it a hundred times, and now I’ll say it 101. All real estate is local, and while there are overreaching factors affecting everything, like the mortgage issue, some markets are responding differently than others. For sellers, overall, not a great time, but homes are selling, in fact, more than 5.5 million of them this year. And not everyone is losing money on them either. Remember, home price appreciation during the boom was positively historic, which means that even if the price comes down a bit, it may still be well above what it was five years ago (again, not everywhere, but in most places).

Am I bullish on housing? No. But the plain fact is that while people didn’t need the latest .com technology, people do need a roof over their heads. Demand is still there, it’s just in a holding pattern. Do your homework, listen to the facts reported, and you decide what’s the best course of action. Your call.

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Survey reveals 49% of consumers say right now is the time to buy!

Tampa Bay Business Journal - August 17, 2007
by Michael Hinman
Staff Writer

More than half of the homeowners in the Tampa Bay region feel that this is as good a time as any to buy a new home, but getting them to buy is a different story.

Sales for existing homes continue to decline as much as 35 percent in the area while median prices are dropping just 6 percent according to the Florida Association of Realtors. However, a new survey from Attorney's Title Insurance Fund says many potential buyers are waiting to see how the currently volatile market will play out.

"I've had a couple of people tell me that they are going to wait to see what happens next year," said Rae Catanese, a Real Estate Agent with Prudential Tropical Realty in South Tampa. "With as many homes that are on the market right now, I think there has just been too much bad publicity lately about the market and people are scared of the unknown."

Harris Interactive conducted the housing survey on behalf of the Insurance Fund in June, asking more than 1,400 homeowners in Florida their thoughts on the current housing market.

Some 49 percent in the Tampa area said right now is a good time to buy a house or condominium compared to 42 percent last year. However, just 25 percent of those respondents said they intend to buy a home themselves in the next two years.

A January report by the Greater Tampa Association of Realtors said available inventory in the area had doubled since the beginning of 2006 and that an increased inventory played into lower prices.

Buyers waiting for larger drops may be missing an opportunity. Lawrence Yun, a senior economist with the National Association of Realtors, said new construction has been drastically reduced, causing existing home median prices to actually rise nearly 2 percent nationwide by early next year.


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Best Places to Buy a Home-Tampa, Fl- Forbes Magazine

The Tampa Bay area ranks #1! Based on a report by Forbes magazine online issue, Tampa Bay is the best place in the country to buy a home. Forbes notes that the Tampa Bay area is in a V-shape recovery – an area that the market undergoes a freefall, but recovers quickly. The top markets for housing are:

Tampa -Click here to search Tampa Homes for Sale
Minneapolis
Miami
Kansas City
Chicago
Phoenix
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This report may explain why Saturday, July 21st Urban Home Tour was so well attended with many realtors reporting record number of people coming to see what downtown living is all about.

Seeing is Believing
Out with the old to make way for the new. Most reports in the “Seeing is Believing” section focus on projects already underway. But what about future projects? This week, let’s take a look at what will soon be demolished to make way for future growth in downtown:

Tampa Museum of Art:

Officials report that the current building will close in December with all the artwork being relocated for safe keeping to Orlando. The building will begin to be demolished in January. The site will be brought down to grade and used to expand Curtis Hixon Park, which will undergo a complete renovation of its own.

The Slade:

Another condominium project is preparing its site in the Channel District. With a location book ended by 12th Street and Meridian Avenue, The Slade site is clearing away old warehouses that once dominated the entire Channel District. Construction of the new building is not yet set.

U.S. Post Office:

Located at 900 N. Florida Avenue, this post office location will move in November to 400 N. Tampa Street in order for the Florida Avenue location to be demolished. The building is being torn down to make way for a new parking facility and amenities deck for The Flordan Hotel, which is undergoing a full historic renovation.

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Are Waterfront Lots in Tampa a good investment?

What a great time to be a buyer. Waterfront lots in the Tampa Bay area are priced aggresively and owners want to sell. Think about purchasing your lot now and holding on to it until you are ready to build your dream home. It's like having an investment in your back pocket. A nest egg for retirement.

Like most sales cycles prices go up and they come down. Buy low, sell high is what they say. I just took a listing for a Waterfront 1/2 acre lot on the Hillsborough River last week. It's listed for 400K. When things were hot, the same lot could have sold for 550-600K.

Holding on to Waterfront property is the way to go. You won't have any insurance to pay for until you build and the taxes are always lower on vacant land. Let's face it, they aren't making anymore waterfront in Tampa.

In recent years past, some Real Estate Investors choose to buy a 2/2 condo in Hyde Park and Channelside for about the same price. They are now competing with all the other owners trying to rent their units, or sell them because they can't cover their mortgage on what they are renting for.

The future of waterfront living in the Tampa Bay area can be displayed by The City of Tampa which will reshape the waterfront for everyone to have access to and enjoy by developing a Master Plan for the Tampa Riverwalk, a continuous pedestrian walkway extending from the Channelside area to Tampa Heights along the east side of the Hillsborough River. It will incorporate pedestrian amenities, art and interpretive elements, retail and restaurant uses, parks and open space, and other urban amenities.

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