Your satisfaction is my success!
Eric Frantz, Realtor - People's Choice Realty Svc
Updates on the real estate market in Tampa Florida:
2013-01-15 - Hope you all had a good holiday and are ready for the new year and another good set of data on the Tampa real estate market. The data is in for December 2012 and it looks good! For Lutz FL the number of single family residents (SFR) on the market is down 3% from last month, but down a whopping 25% from the same time last year. With 69 sales last month, the inventory on SFR is down to an almost rec...ord low of 2.8 months.
For the entire county of Hillsborough and all MLS real estate transactions, the number of sales in up 18% over last year and the number of listings is down 25% from December of 2011. This trend has been going on all year now, but the year over year comparisons will get harder and harder to beat as the inventory gets too low to maintain high sales numbers. This why we've seen prices going up and multiple bids on many properties.
If you'd like to see whats available right now, give me a call and let me know what you're looking for and I'll get you set up immediately.
2013-02-04 - I've just put together the numbers from January and they still look good. In Hillsborough County the number of residential properties that sold in January was 1284 which is up 38% over last year at this time. And the number of listings on the market has gone down 13% from last year to a multi year low of 7732 active listings. With this low number of homes ...on the market it gets harder and harder to find a "deal". Because of this we are seeing more bidding wars and prices going up. As the number of homes on the market keeps going down it will eventually make it harder and harder to beat the sales numbers from year to year. So don't be surprised if we start to see the number of sales level out just because there are that many homes for sale. So far this is all good news for home prices.
2013-03-08 - We're still moving along! Sales are up again, 17% over last year according to the Greater Tampa Association of Realtors. And the number of listings available for sale is down 11% from last year. This is what it takes to heal the resisdential market here in the Tampa Bay area. You'll also notice as you drive around town the increased amount of construction going on in subdivisions that were once abandon. Rates are still low, and real estate is moving, let me know if you're thinking about a move. Even if you just want to find out what your home is worth, its worth the call.
2013-04-23 - Good homes are going fast. With inventory low bidding wars are common. A buyer of mine recently lost a home while bidding more than $2000 over list price. While another just barely won a bidding war at nearly $5000 over list price. This doesn't happen with every property as some are listed too high to begin with, but if a good home is priced right, it will be under contract in the first week, sometimes even the first day. Let me help make sure you get the most for your home if you're selling. If you're a buyer, let me make sure your bid is priced right so you don't miss the home you've been looking for.
2013-05-01 - Ive calculated the data for April, sales in the Tampa FL area are up again, this time by 18% over last year. The number of properties on the MLS is down 2% from last year. This difference between the two has helped push property prices up an average of 11% from last year. The biggest gains I've see are in lower priced condos, which are up almost 35% in some areas. Our biggest problem now comes when the appraisal is done. Many appraisers cant find comparable homes that match the higher offer prices, and this can break a deal. We saw a lot of this in 2005 during the bubble. If you have any questions about this data, just message or call me and I'll explain it in more details.
Have you heard about interest rates yet? You will, they've been going up rather quickly in the past month. If you're thinking about buying, you may want to do it before they go up anymore. Just as an example, when rates go up 1%, that's ...$60/mo more on a $100k mortgage. That may not be a lot to some people, but it means a smaller house when the lender is deciding how much they can loan you. http://www.bankrate.com/funnel/graph/