Tampa Condos Moving Fast

With home values greatly reduced since the bubble of 2008, buyers are trying to take advantage of properties that  at one point were 50% over what they are currently priced.  In Tampa, one of the more competitive types of properties are condos in the $20,000 to $40,000 price range.  This price range in the Tampa condo market is extremely competitive due to their attractive price . Just a few years ago, the idea of a condo selling for $30,000 was ridiculous and not based on reality. Today these prices are very much a reality and these properties are moving very quickly. The buyers that are purchasing up these condos are small time investors looking to get a renter into it so they can obtain a stream of income. Then you have your investment groups that have loads of cash looking to purchase several of these units at a time. Of course most of these condos are distressed, however that is not stopping buyers from making a bid. If you are looking to purchase a condo in this price range, you want to make sure you have the cash to offer at or above the listing price. Remember you have some stiff competition so you need to have the funds to back you up. Cash is king when your dealing with a distressed property. A cash offer can speed up the process. This is not always the case. The areas that I find many of these condos are in New Tampa, Seminole Heights, and Ybor.  These properties are extremely popular and are becoming hard to find. If you want to take advantage of this type of property, then you must move fast or you won’t have a chance to make a bid.

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~ by fnunez on May 18, 2011.

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