Tampa Area Promises Great Real Estate Investment
If you had purchases a bungalow back in the late 90’s in the Tampa area you would have paid in the mid $50k range for one of the older more historic houses. And in less than five years, you would have doubled your money. If you think you’ve missed your opportunity – not so – today Tampa area still promise great real estate investment.
In 1999 you would have paid $60k for a 1000 square foot two bedroom, one bath bungalow and in 2003 you could have sold that same house for $134k, while today you would have sold for $180k. From 1998 to 2003 Tampa say an increase in property prices of 47% and surrounding areas saw anywhere from 45% to 164%. Now what banks going to pay you those kind of returns on your money?
Tampa area housing market is reflecting a national trend. In fact experts are saying that current housing prices are showing the sharpest increase since WWII. Typically housing prices will rise about 1% above inflation, which has been very low the last few years, and yet housing prices have continued to soar outside the norm.
That’s because there are several forces at work. You’ve heard it many times – location, location, location – and Tampa has just that. The weather in Tampa, throughout Florida for that mater, continues to draw people from all parts of the globe and all walks of life. Even with the economic slump that’s hit so much of the country the Tampa area has remained except.
Because demand is high in the area prices continue to climb and because they are still affordable the keen investor will be able to get in make an excellent return on his or her money and get out, or stick around for awhile and see what the future might bring.
Tampa area has a lot to offer – an excellent school system, superior shopping, plenty of tourist activities, lots of great beaches, great weather, and affordable housing. Why not check it out for yourself?