Tampa Bay Rebound Delayed
According to a recent report in the Tampa Bay Business Journal, http://www.bizjournals.com/tampabay/stories/2008/02/04/daily14.html “home sales dropped 37% in December. A Tampa analyst says “It's rare to see buyers wait on the sidelines while conditions are so generally favorable, but that's what we saw happening in January," said Chase Clark”
What does that mean for potential buyers in the Tampa Bay area? It means that there are certainly some great deals to be had. After a steady drop, price per square foot is on the rise again. December saw an upturn in the number of sales. Translated, it means if you are in the market to purchase a new home, some investment property, or some commercial space now would be a good time.
The Federal Reserve has lowered the interest rate once again which saw sales take another small jump. For those in a position to purchase things really couldn’t look better. In fact, if you’ve ever considered investment property with the excellent selection of well priced homes on the market and the flexible terms and interest rates you couldn’t go wrong giving your realtor a call right now.
The projection is that by 2009 things will begin to turn around and by 2010 with a little luck return to normal. So if you are considering buying home in Tampa Bay, there is no better time than right now.