Tampa getting Cold but Tampa Real Estate Remains Hot

As I sit here watching the Feds toil over dropping a key Interest Rate, I look at our board of what has closed and what is pending.  I keep hearing people say that the market is slowing down, I just don’t see it.  If anything is slowing down, it is the banks dealing with all these short sales, or should I say, lack of banks dealing with all these short sales.  If the banks could just pick up the pace, the market would be cleaned out of this excess inventory.  I just don’t know what else to say about this other than, “Banks, hire more efficient people, or at least train them to deal with this”.  As in my last post, dealing with bank agents that are drunk is not going to be the cure to this whole mess.

People from all over the country and out are looking at Tampa since prices have dropped to the point where real estate is affordable again, and you get alot for your money.  I have watched homes that once sold for $2 Million, for example, now sells for just over $1M or less depending on the status of the owner.  If the bank now owns it, it could even be less.  I recently sold a home, site unseen, for $100k of the list price.  The list price was half of what the owner had originally paid for it which was $1.2M.  There are many deals in this area although alot of the lower priced homes have been gobbled up by investors or first time home buyers.  But even these homes were nice homes that once sold for $200k+ now selling for closer to $100k…but again, many of those are gone.

The market is ripe for the taking, and there are still many Mortgage programs out there, so the money is there.  So if you are looking for unbelievable deals, look no further, the weather is good, the beaches are great, and now the Real Estate is cheap!

Tampa Real Estate  |  Tampa Foreclosures  |  Tampa Real Estate Blog
Team Masse services the Tampa Bay Real Estate market and the following areas: Tampa, Apollo Beach, Riverview, Ruskin, Brandon, Lithia, Valrico, Gibsonton, South Tampa, and Channelside District.  Contact us at 813-546-5222 for more assistance.

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~ by ToughGuy on October 29, 2008.

One Response to “Tampa getting Cold but Tampa Real Estate Remains Hot”

  1. I have looked over your blog a few times and I love it.

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