Recovery continues to move forward. The foreclosure and short sale market have tempered the pace but there is clear evidence that the market is moving forward.
While there are some pockets around the Bay area that continue to struggle, there are many sub-markets that are beginning to see modest price gains. Why?
Around six months of inventory is the norm of late. That's a good and healty number. That number has steadily declined since the first of the year.
There is continued talk of another wave of foreclosures. I wouldn't doubt that. However, as inventories shrink, there will be some demand for this new inventory. Let's just hope that these homes hit the market at a pace that can be absorbed by the present demand. Investors are lined up waiting for them. I have several investor clients myself who are waiting for some homes to hit the market.
Here's the best news. The market prices of homes today allows the average income earner an opportunity to live the American Dream of home ownership. That wasn't the case even two years ago.
Very affordable prices with historically low interest rates still make it a GREAT time to buy.
Until next month.
Pete
For more on the Tampa Bay housing market or if you are looking to buy or sell a home here in the Tampa area OR KNOW SOMEONE WHO IS, please give me a call at 813.760.1979 or email me at Pete.R@Realtor.com.
ZIP Codes: All, bay, area, zip, codes Approximate Location Boundaries: Covering Hillsborough, Pasco, Pinellas and Polk counties.
Location Characteristics: Great year around weather. Sandy beaches. Lot of golf. College and professional sports. The largest Performing Arts Center in the southeast. Only minutes from some of the world's greatest tourist attractions. Great schools. Low taxes. A great place to live and work.
About Pete Radeka:
Pete is a full service agent working for one of the most prestigious real estate firms in the Tampa Bay area, Florida Executive Realty. Pete combines high tech skills and resources with a strong hands-on approach. When you engage Pete's services, you get Pete full time. Pete will work hard to represent you throughout the process and beyond closing. Pete applies the basic biblical principle of the Golden Rule to every aspect of his life. Pete's primary source of business is through quality referrals. Pete's clients are so pleased with his efforts that they routinely refer him to family, friends, neighbors and co-workers. Give Pete a call today at 813-760-1979.
These reports reflect the views and opinions of their authors and are not necessarily the views and opinions of Realty Times.
