I read with interest an article on Yahoo! today with the headline:
Best and Worst Places to Buy a House
With Florida’s recent correction in prices I wasn’t surprised to see Palm Beach on the list. But then the writer, a self-proclaimed real estate investor and analyst, goes on to say “If you don’t like this high of a risk, check out Tampa or Clearwater in the same state.â€
That wasn’t surprising either, it’s just nice to see the exposure. Prices have come down substantially in many areas of Tampa. Interest rates are very low, even if getting a loan is tougher than it used to be. Short sales are becoming more common which has certainly had an effect on prices.
Sellers who are not in a short sale situation have to price their homes accordingly to remain competitive with those whose asking price is less than they owe (short sale). Competing against short sellers and banks is no fun for sellers.
The environment for buyers of Tampa homes is very strong. The overall inventory of homes for sale in Tampa has stabilized over the last 3 months and even come down slightly since its peak in October. At this time last year inventory was climbing fast. If you can get a loan, rates are the lowest they’ve been in years.
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Read the article on Yahoo!.
“If you don’t like this high of a risk, check out Tampa or Clearwater in the same state.â€
I’m glad to hear that. Something positive going on in your coast. That’s really good.
We’ll catch up one day here in Reno.
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