Tampa Bay Beach Communities Sizzling Hot
Hot off the presses! Tampa Bay, which includes St. Petersburg, Clearwater and all the beach communities here, is the number 1 spot to buy a house.
That was the headline in the St. Petersburg Times on July 25, 2007.
The Times referenced Forbes magazine as reporting that this area should bounce out of it's sluggish real estate period in a large way.
Staff writer James Thorner said Forbes, using data from Moody's Economy.com, thinks this is the best place in America to buy a house.
They cite the strong, growing economy and houseing prices that are lower than many other parts of the nation.
They say we may have a "V-shaped" rebound like a ball thrown hard into the pavement bounces back higher and faster than one merely dropped on the pavement.
That is in comparison to U and L shaped recoveries and it is news that comes on the heels of predictions from some area agents and developers that our area is already coming back.
There has never been a better time to be buying a home! The strong Buyers' Market promises great values for those home buyers who are ready to buy now.
Sales are slow but sellers who price realtisically are seeing results! One problem is that too many sellers are clinging to the vain hope that somehow they can still ask the high prices of a year ago.
That approach is proving to be a recipe for disaster for both property owners and their Realtors. Sadly, sellers who need to sell but who will not price for this market are actually seeing prices drop lower.
Phones are ringing again in real estate offices across the area. Those who man the front desks at RE/MAX Action First say that more buyers calling on our listings now.
But experts caution that an improvement in sales will not mean a sudden return to the big prices of 2005. The market has corrected itself and it could take several years of more gradual appreciation to get back to prices on that level again.
If you are thinking of buying, I can email listings complete with photos and virtual tours and represent you as a Buyer's Agent.
If you have selling in mind, it is critical to know your competition and keep up with nearby sales. Even in this market, many sellers do not know what their home is worth.
I can email listings of homes for sale now and sales in your area that will include the street address and multiple interior and exterior photographs. Send me a note at: info@BahiaRealtyGroup.com