Today's Real-Estate Market in Tampa Bay, Florida
The bubble is over!
Everyone is familiar with the real estate bubble and the fast rising prices that came to a sudden halt when the market collapsed. Speculators drove up the home prices in Florida in 2004, 2005 and the first quarter of 2006. Suddenly the situation changed dramatically, as many experts had predicted. Many speculators and even Realtors© did not believe in a market change and brought the same arguments you heard during the DOT.COM bubble. Prices really came down in Florida.
Please note, that is history now, the market is very healthy due to a large influx of people from up North, especially in the lower price ranges as the number of homes on the market is very small and not every buyer finds a house in their price range, especially in the lower price ranges. Builders are building a lot of homes currently in the Tampa area, especially in South County (Southshore), but none in the lower prices ranges and very few below $ 200,000.
Many potential buyers can only afford homes in the range of $ 150,000 to $ 200,000 and it is very difficult for them to find something and such homes are selling fast. Also the number of foreclosed homes is getting smaller and smaller and many sell above asking price as flippers to buy them. Buyers wanting to spend half a million or more find a good supply of available homes. With inventory levels in the lower price ranges as low as they are now, buyers sometimes cannot find what they were looking for and properties sometimes get multiple bids, I have seen over a dozen offers for lower-priced homes on foreclosure homes.
They usually sell above asking price when a bidding war starts. You need a Realtor© to assist you on your home search, who knows the local markets and is working as a professional in the real-estate market for many years and has seen up and down markets.
Call Christian Bellingrath and Renate Bellingrath from Florida-Online-Realty.Com, Inc. today: (813) 641-3339
We will gladly assist you with all your real estate needs.