Posted in florida, real estate, tampabay

A few words about the Real Estate Market in TampaBayUSA

Between March 2007 and March 2008 housing prices came down almost 20% in TampaBay. Basically, this means house prices are comparable to the cost of housing in 2005 when the area was seen as a very attractive, home buying market based on lower prices and an attractive cost-of-living. As a result of these lowering prices we have seen more sales activity. The first quarter of 2008 was up 46% over the previous quarter. Now, one quarter of positive sales is no trend so we will have to see how the second quarter shapes up. We are still a long way off the 2006 statistics when we were in the midst of the Real Estate market boom. We need to keep in mind that the things that will help the TampaBay Real Estate market recover to more comfortable state of supply and demand are the things that continue to happen:

  • We are still seeing families move to TampaBay for work and retirement
    • TampaBay continues to average 800 to 1,000 new residents a week
  • The Baby Boomers are starting to head our way
  • We are seeing health care expansion add to the work force and attract workers from outside the area
    • St. Joseph’s North and Pasco Regional Medical Center
  • We are seeing businesses move headquarters to the area or set up Regional centers
    • Sysco, Cott and Pemco

And these things are happening because TampaBay remains a wonderful place to live and work. We are the capital of Florida’s gulf coast and we have the best beaches in America—which is why people move to Florida in the first place ( plus the 300 golf courses open 365 days a year.)

So, what are the conclusions—the market is always in a permanent state of movement. We appear to be coming to the bottom of this current trend and we may start to see some recovery. If you are an investor, now is a great time to be shopping and buying. If you do not have to sell—don’t right now. If you do have to sell, keep in mind that the properties that have sold in your immediate neighborhood are the properties setting the market price and also provide the data for property appraisers who are working for the lenders. Next time – Central Pasco – a great place to live.

Visit our websites

TampaBayHomes1.com

TampaBayHomes1.us or for our International website TampaBayHomes.co.uk

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Author:

Introducing Sheena and Bob Murray, Realtors Experts in domestic and international relocation and investment Sheena is from the Scottish Highlands, educated in Wales and lived in Surrey and Sussex in the South of England. Coming to the US for a one-year visit, she met Bob and has extended her stay by some 30 years. Married in England, Sheena and Bob settled in Minneapolis, Minnesota. Since then they have lived in Boston, Geneva, Switzerland, Amsterdam, The Netherlands, Houston and, finally Tampa. Sheena and Bob have two children, Ian and Fiona. Married, Ian lives in Seattle, Washington with his wife Gulay. Ian is a rocket-scientist working for Blue Origin. Fiona is married to Danforth Johnson and lives in Iowa City, Iowa with their two sons Roan and Tristan. Fiona is an Emergency Medical Technician (EMT) and Paramedic. While in Boston, Sheena was in Real Estate and General Contracting. Buying older homes, she renovated and sold them with several properties in varying states of re-construction at any one time. Consequently, Sheena has a keen eye for Real Estate value and potential as well as detailed experience in how to improve and/or evaluate properties structurally and cosmetically. Sheena sees all the possibilities and can make specific interior and exterior recommendations - from essential to aesthetic including landscape gardening. Sheena is an Accredited Staging Professional (ASP). Having moved to Tampa in 1998, Sheena has continued her career in Real Estate. In 2000, Bob joined her bringing his experience in sales, marketing and communications gained from his career as a senior executive in international sales and marketing for DEC, AT&T and Compaq. Having made more than a dozen moves domestically and internationally, Sheena and Bob are personally and professionally knowledgeable about the entire relocation process – from first meeting to moving day. Sheena speaks French and Dutch. Sheena holds the prestigious Certified International Property Specialist (CIPS) designation and joins a worldwide network of global real estate practitioners with certified expertise working with international clients and is an accredited member of ERA’s International Collection of Fine Homes. Before joining ERA Dennis Realty & Investment Corporation Sheena and Bob were awarded the Prudential’s Chairman’s Circle Gold Award placing them in the top 3% of all Prudential Realtors in the world. They were named ERA Dennis’ Top Team for 2007 and 2008. Bob has recently completed several detailed courses on foreclosures and short sales and is an accredited short sale specialist. Sheena has completed the USAA Movers Advantage Training Program as she continues to increase her relocation services capability. Whether it’s Buying or Selling, Resale or New Construction, with their knowledge of the Tampa Bay area and superior customer service, Sheena and Bob will help you meet your real estate goals efficiently, painlessly and with a happy spirit.

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