Tampa is kind of a Seller’s Market as buyers compete with little inventory. Market value hasn’t recovered to top form but Sellers today are still getting nearly 95% of their asking prices.
50% of the decrease in the available housing inventory is due solely to the lesser amount of foreclosures and REO properties.
SG Fun Fact: Our average full-time agent is pacing an annual $79,400.
SFH Forecast: Market values will steadily increase 8%-10% more through 2017. As household economies strengthen, rent becomes undervalued. But institutional sellers won’t unload an oversupply of properties just to meet the rising homeownership demands.
SFH Forecast: Until renters decide to buy, low vacancy rates will keep institutional investors from unloading the portfolios they’ve built over the past few years. New construction is expected to produce a 20% increase in retail volume by 2017.
A bird never flew on one wing. Let SG help you buy or sell!
VA loans provide the unique incentive of purchasing a home with zero money down. And borrowing up to $417,000 while doing so. Good way to plant the flag. Happy Veterans Day to our troops!
Foreclosure rates: 5 of the top 10 cities nationwide are in Florida. The Tampa area market ranks as the 4th highest overall.
Following up with yesterday’s post, there are roughly 30% fewer REO’s for sale on the market. Meaning the distressed/foreclosure market is clearing up….
Based on MLS, there is roughly 25% less inventory than there was a year ago. As supply decreases, price increases…..