Current Tampa Bay Trends
"No news is good news" We’ve all made claim to it before, but when it comes to real estate in the Tampa Bay area it couldn’t be further from the truth. It’s important that you stay up to date with current news, and developing market trends. When entertaining the real estate market it’s not a good idea to stick your head in the sand. News is what’s going to help you make the right decision about the price you choose to pay for property or what you choose to sell your property for in the Tampa Bay area.
For example, let’s say you want to sell your home. There will be market trends for the area that will be very helpful in helping you determine fair market value for your home. On the other hand, if you are considering buying in the area these same market trends, can help you decide what the fair market value is to offer on a property.
We’ve all heard it in the last while “experts say the housing market has taken a sharp turn for the worse.” This applies to almost all areas in the US and it affects both buyers and sellers. Sales of used homes are at an all time low. Lenders continue to tighten up their lending practices restricting available funds, which means there’s less money on the market to buy homes with and thus less homes selling. Inventories on the market in the Tampa area and other parts of the country are at an all time high.
If you have access to mortgage, money and you’ve been, considering entering the market, now’s a great time to do just that.