Lower Cost of Living Boosts Real Estate Tampa

Published by nora | Filed under Buyer / Seller Tips, Market Trends, Real Estate

Over the past months, more people have been buying a piece of real estate Tampa than other Florida real estate properties, as reported by the Greater Tampa Association of Realtors and Florida Realtors. There are a lot of reasons for Tampa’s popularity among buyers, and among them is the lower cost of living in the Tampa area.

In the ACCRA Cost of Living Index report compiled by the Council for Community and Economic Research (C2ER), the Tampa metropolitan area remains among the more affordable cities in the country as of the end of 2011. Over the past three years, Tampa’s cost of living index has stayed below the nationwide average index of 100. As of the end of 2011, the metro area’s index was 91.8, far below 218.8, which was the index of Manhattan, the most expensive metropolitan area, and closer to 81.0, which was the index of Harlingen, Texas, the least costly metro area.

The Tampa area was also the least costly among Florida’s well-known cities, as seen in the following table:

Tampa	91.8
Jacksonville	93.9
Orlando	97.3
Miami	107.1

The C2ER index considers six categories and various subcategories in its cost of living studies. The main categories are housing, health care, utilities, grocery items, transportation and miscellaneous goods and services. In the Tampa area, certainly housing was a significant factor in the downward drift of the index as prices for real estate Tampa substantially dropped from their high levels over the past years. The area’s housing index in 2011 was 78.7, significantly below the nationwide average.

In the home sales report released by the Greater Tampa Association of Realtors for 2008 to 2011, the volume of residential sales in the Tampa area has been on an upward trend, with some fluctuations, but never dropping to a level lower than any monthly sales level in 2008. The December 2011 sales total of 1,756 units was higher by 31.4 percent than the 1,336 units sold in December 2008. Over the month, the sales volume also increased, with a 12.6-percent jump from the November 2011 sales of 1,559 units.

In the 19 metropolitan markets monitored by Florida Realtors, the Tampa Bay real estate market was again the best-performing in December 2011 and in the whole of 2011, based on sales of existing single-family homes. In December, the Tampa-Clearwater-St. Petersburg area soared with sales of 2,422 existing units, higher than any other metro market in Florida. In 2011, the Tampa area had a sales total of 30,425 existing single-family homes, higher by 11 percent than second best-performing Orlando.

Take advantage of opportunities in Real Estate Tampa. Lower cost of living. Blends of country living, cosmopolitan lifestyle, resort-like lifestyle, urban living. Contact Tampa4U.com.

Home Sales Data Showing U.S. Housing Market Improvement

Published by nora | Filed under Buyer / Seller Tips, Market Trends, Real Estate

The U.S. housing market has been showing improvements with the continued increase in sales of existing homes in December, based on data compiled by the National Association of Realtors. There are also other figures that are encouraging real estate market participants, such as inventory and sales trends.

Increase in Existing Home Sales in December

Nationwide, sales of existing homes increased in December 2011 to an adjusted rate of 4.61 million units, up by 5 percent from an adjusted rate of 4.39 million in November 2011. Compared to December 2010, the December 2011 pace also increased, at a rate of 3.6 percent. This pace includes sales of all types of residential units, including single-family homes, condos, townhomes, villas and co-ops.

Sales of existing condos and co-ops also surged over the month, rising by 8.7 percent from an adjusted rate of 460,000 units in November to 500,000 units in December.

Rise in Existing Home Sales in 2011

Sales of existing homes for all of 2011 also increased over sales in 2010 by 1.7 percent, from 4.19 million units in 2010 to 4.26 million in 2011.

Drop in U.S. Housing Inventory at the End of 2011

The national inventory of existing homes available for sale dropped at the end of December to its lowest point since March 2005 when there were only 2.3 million units listed for sale. At the end of 2011, the nationwide pre-owned inventory dropped year-over-year by 9.2 percent and month-over-month by 7.2 percent to 2.38 million units. This total is almost just a half of the peak volume in July 2007 when there were 4.04 million existing units on the market.

A declining inventory can be seen as a positive sign as it pushes prices to go up. It also means that surges in sales have been moving homes from the market into homeowners’ hands.

Rise in Pending Home Sales in November to 19-Month Peak

The index for pending home sales rose by 7.3 percent to 100.1, the highest point of the index since April 2010 when the index reached 111.5. This was the month homebuyers fastracked their home buying activities to take advantage of the tax credit program. Pending home sales refer to sales contracts signed but have not yet closed. It usually takes four to six weeks from the date of contract signing before a sale is closed.

Take advantage of still low mortgage rates and lovely homes on the U.S housing market. For Tampa Bay homes, contact Tampa4U.Com.

Florida Real Estate Market Flourished in November

Published by nora | Filed under Buyer / Seller Tips, Market Trends, Real Estate

With an 11-percent year-over-year increase in sales of existing single-family homes and condos, the Florida real estate market continued its recovery and growth in November. Sales of pre-owned single-family homes also increased in 17 of Florida’s 19 metro areas while sales of pre-owned condo units increased in 10 areas.

A total of 12,993 existing homes were sold across Florida in November, up by 11 percent from the 11,664 units sold in November 2010. Sales of pre-owned condos surged by two percent to 5,590 units from 5,464 units in November 2010. Market analysts said that the continued improvement of the Florida market was due in large part to lenders’ efforts in improving their systems in dealing with foreclosed properties and short sales.

The 5 metro areas with the biggest rates of increases in existing single-family home sales year-over-year were the following:

West Palm Beach-Boca Raton	36%
Tallahassee	25%
Fort Walton Beach	24%
Fort Lauderdale	22 %
Fort Pierce-Port St. Lucie	20%

As to sales of existing condos, the following areas had the biggest improvements in the Florida real estate market:

Punta Gorda	19%
West Palm Beach-Boca Raton	19%
Jacksonville	13%
Fort Pierce-Port St. Lucie	13%
Pensacola	9%
Tampa-St. Petersburg-Clearwater	8%

The statewide median sales price for existing homes sold in November 2011 dropped slightly over the year from $130,600 to $130,100, but the median sales price for existing condos increased from $83,000 to $86,700. In the condo sector, seven metro areas posted median price increases, with Panama City and Fort Pierce-Port St. Lucie both registering the highest rate of increase, which was 24 percent.

In the existing single-family homes sector, five metro areas posted median price increases, with Fort Myers-Cape Coral, Fort Lauderdale and Ocala posting increase rates of 20, 18 and 17 percent, respectively.

The Orlando and Tampa areas again surpassed all other Florida real estate markets in terms of sales of existing single-family homes. These metro areas were the only two markets that shot up past the 2,000-unit mark.

Orlando	2,059 units
Tampa-St. Petersburg-Clearwater	2,050 units
Fort Lauderdale	961 units
Jacksonville	947 units
West Palm Beach-Boca Raton	943 units

View homes for sale in Tampa, among the most popular in the Florida real estate market.

What Tampa Homes Can You Get With $200K to $250K?

Published by nora | Filed under Buyer / Seller Tips, Market Trends, Real Estate

At this price range of $200,000 to $250,000 — the most popular price range in many months among owner-buyers in Greater Tampa in 2011 — you can already take your pick from among Tampa homes that allows you resort-style living.

Among others, these homes have all or some the following great features:

•   Views of a lovely lake or river
•   Views of nature
•   Access to a lake, river, pond, or bay
•   Access to a boat dock
•   Access to nature trails
•   Master suite with a walk-in closet
•   Access to community amenities, such as golf courses, pools, and country clubs
•   Access to fishing and boating adventures

In the most recent sales report released by the Greater Tampa Association of Realtors, a total of 1,567 units were sold in the price range of $200,000 to $250,000 for the period January to December 2011, the highest sales volume among all price points for owner-buyers.

Here are examples of Tampa homes for sale in the $200,000 to $250,000 range:

Two-Story Townhouse at Marbella Terrace Listed for $204,800

This waterfront home is along the Hillsborough River and has access to a nature trail and to the community’s amenities such as a large pool, a boat dock, and a large deck. It has 3 bedrooms and 2.5 baths, with the master suite having a walk-in closet. It also has hardwood flooring, large windows, ten-foot ceilings and a private terrace.

2-Bedroom Condo along Bayshore Blvd Listed for $224,900

From this condo, you walk out of your front door to Bayshore Blvd and to the best restaurants and bars in the area. You also have panoramic views of the lovely Tampa Bay and the communities of South Tampa.

1.4-Acre Wooded Multi-Family Residential Income Property Listed at $244,000

If you like fishing, camping, horse riding and the peace and quiet of a fenced large piece of land and at the same time have access to modern facilities like the Tampa International Airport and to Gulf beaches, this is a great property for you.

5-Bedroom Single-Family Home in a Golf Community

You not only live in a golf and country club community, you also have great views of a lovely lake and conservation land. The large master suite has a soaking tub and his and hers walk-in closets. The home invites lots of natural light and the spacious lanai overlooks a calming conservation area.

Tampa homes not only give you amenities described above, you also live in the Tampa Bay area, which enjoys a beaufitul blending of everything that is modern and the country life.

View Tampa Homes,  Tampa Condos and  Master-Planned Communities

Tampa Homes — Both Sales Volume and Average Sales Price Rose in December

Published by nora | Filed under Buyer / Seller Tips, Market Trends, Real Estate

Both the sales volume and average sales price of Tampa homes increased in December 2011 month-over-month. Based on data released by the Greater Tampa Association of Realtors, the total number of single-family homes, villas, townhomes, condos and co-ops sold in Greater Tampa in December 2011 was 1,756 units, an increase of 12.64 percent from the 1,559 units sold in November 2011. The average sales price also increased year-over-year, by a rate of 3.5 percent to $159,707 in December, but the sales volume dropped by 7.5 percent.

Housing inventory continued to decline, as the December inventory of 9,328 units was 10.6 percent lower than the previous month’s inventory. The total of 9,328 meant a supply of 5.3 months, lower than the November supply of 6.7 months. Compared to the year 2008, when the December inventory equaled 15 months of supply or 20,098 units for sale, the decrease in housing inventory over the three-year period was a significant 54 percent, more than one half.

Of the 1,756 housing units sold in December, 1,309 or 74.5 percent were single-family homes, 2,895 units were condos, 2,039 were townhouses, 558 units were mobile homes, 490 were villas and 69 units were half duplexes. The rest were planned unit developments, modular homes, and co-ops.

For the whole year of 2011, these were the sales performances of the different types or styles of homes:

Single family homes	16,330	72.8 %
Condos	2,895	12.9 %
Townhouses	2,039	9.1 %
Mobile homes	558	2.5 %
Villas	490	2.2 %
Half duplexes	69	0.3 %
Planned unit developments	29	0.1 %
Modular homes	12	0.05 %
Co-ops	6	0.03 %

Of the 1,756 Tampa homes sold in December 2011, 306 units were in the price range of less than $50,000. This price range has always had the highest sales volume because this meant sale of investment homes to investors often buying in bulk. Among owner-buyers, the $200,000-$250,000 price range was the most popular, which was also the most popular in November and in other months. Next was the $120,000-$140,000 price range and third was the $100,000-$120,000 range. There were 14 units in the over-one-million-dollar price range that got sold.

Search Tampa Homes

More People Bought Tampa Condos Last November

Published by nora | Filed under Buyer / Seller Tips, Market Trends, Real Estate

Tampa condos remained popular among buyers in November 2011, based on data released by Florida Realtors. A total of 749 existing condo units in the Tampa-St. Petersburg-Clearwater area were sold, marking an increase of 8.4 percent from 691 units sold in November 2010.

Across Florida, sales of existing condos also increased, with 5,590 existing units sold last November, marking a 2.31-percent increase from 5,464 units sold in November 2010. The year-to-date sales also surged by 17 percent, from 69,224 existing units sold over the period ended November 2010 to 80,745 units sold over the period ended November 2011.

Compared to other metro areas in Florida, the Tampa area was fourth in sales volume, as seen below:

Fort Lauderdale	1,099
Miami	1,064
West Palm Beach-Boca Raton	918
Tampa-St. Petersburg-Clearwater	749
Orlando	428
Sarasota-Bradenton	269
Fort-Myers-Cape Coral	216
Daytona Beach	136
Jacksonville	135
Melbourne-Titusville-Palm Bay	128
Fort Pierce-Port St.Lucie	104
Fort Walton Beach	100

Over the year in November, the area with the most improved condo sales figures were Punta Gorda and West Palm Beach-Boca Raton, both with an  increase rate of 19 percent, even higher than the statewide over-the-year increase of 17 percent. Jacksonville and Fort Pierce-Port St. Lucie also improved, both with a 13-percent surge rate. The biggest drops in sales volume occurred in Lakeland-Winter Haven, at 34 percent, and Tallahassee, at 25 percent.

As to median sales prices, Florida’s metro areas, 12 out of 19 areas dropped in median sales prices over the year, bucking the statewide increase of 4 percent, from $83,000 to $86,700. Sales prices had the biggest drops in Tallahassee, Fort Walton Beach, and the Melbourne-Titusville-Palm Bay area.

In contrast, the seven areas that posted increases year-over-year in sales prices were Fort Pierce-Port St.Lucie, Panama City, Fort Lauderdale, Miami, Fort Myers-Cape Coral, Lakeland-Winter Haven, and Orlando.

Here are the median sales prices for condos sold in November 2010:

Fort Walton Beach	$198,000
Panama City	$196,000
Pensacola	$142,000
Miami	$125,000
Fort Pierce-Port St.Lucie	$115,600
Fort Myers-Cape Coral	$113,300
Sarasota-Bradenton	$110,000
Daytona Beach	$105,000
Melbourne-Titusville-Palm Bay	$87,500
Tampa-St. Petersburg-Clearwater	$82,300
West Palm Beach-Boca Raton	$77,700
Gainesville	$76,300
Fort Lauderdale	$75,700
Jacksonville	$69,600
Punta Gorda	$65,000
Lakeland-Winter Haven	$61,000
Orlando	$59,700
Tallahassee	$46,700
Ocala	$38,300

We can see from the list above that the median price for Tampa condos sold in November 2011 was also in the middle of the metro areas’ median prices, arguably the median of the 19 median prices.

Search Tampa Condos  /  Downtown Tampa

Tampa Beachfront Condos  /   FHA-Approved Condos

Health Care Developments Good for Tampa Commercial Real Estate Sector

Published by nora | Filed under Buyer / Seller Tips, Real Estate

There are several major health care developments in Tampa that are helping energize the Tampa commercial real estate sector. Some are projects that are still in the planning stage and the others are either under construction or were completed in the last months of 2011.

University of South Florida Rehabilitation Center and Morsani College of Medicine

These two building projects are still in the planning stage, but a seed funding of $20 million has already been committed for the construction of the proposed $60-million six-story medical college by philanthropists Frank and Carol Morsani, principal owners of national automobile dealership chain Automotive Investments. The University of South Florida Foundation is also pursuing efforts to gather funds for the college.

The $20 million seed funding was the biggest health care charitable donation in 2011 in Florida, according to the Chronicle of Philanthropy. It was also the fourth biggest donation among 34 big donations of all types in the state.

The proposed $160-million ten-story rehabilitation center, meanwhile, is yet to receive its first funding commitment, but proponents hope that they can obtain federal funding as the center would be devoted to the rehabilitation of veterans and their reintegration into society and is close to the MacDill Air Force Base and the James A. Haley Veterans’ Hospital. State and local government funding, together with entrepreneurial sources are also expected.

Moffitt Cancer Center Leases Large Space at Intellicenter One in Telecom Park

Moffitt Cancer Center, the only comprehensive cancer center of the National Cancer Institute in Florida, has leased 128,759 square feet at the four-story office building Intellicenter One in Telecom Park for its administrative and business support functions. The office lease will free up space at the main cancer center for serving patients and mission critical activities. Among the winning features of this Tampa commercial real estate property are its state-of-the-art facilities that can support medical activities and its energy-efficient roofing and glass walls. The building is also close to Moffitt Cancer Center.

University of South Florida Center for Advanced Medical Learning and Simulation (CAMLS)

This $30 million state-of-the-art high-tech simulation and training center features a graduate biomedical training center for USF Health, an interdisciplinary research laboratory, an auditorium, a virtual hospital, and general-purpose classrooms. CAMLS trains surgeons from various U.S. states on performing computer-assisted, image-guided, and robotic surgeries, together with other health professionals such as doctors and nurses.

St. Joseph’s Women’s Hospital

This $75 million five-story 125,000-square-foot hospital, located along Dr. Martin Luther King Jr. Boulevard is dedicated to serving women and infants. It features 64 neonatal intensive care suites, 36 suites for new mothers and a 16-bed facility for medical and surgical patients. It also operates the Hinks and Elaine Shimberg Breast Center. The hospital is part of the ten-hospital nonprofit BayCare Health System.

There are other health care construction projects in St. Petersburg, Clearwater, Brandon and Western Chapel that were either completed in 2011 or are still on-going. Certainly these are energizing the Tampa commercial real estate sector and construction industry.

Tampa Commercial Real Estate / Search Commercial Property
Search Income Producing Property / Commercial Listings Available in Tampa

Welcoming 2012 with Great Tampa Real Estate Statistics

Published by nora | Filed under Buyer / Seller Tips, Market Trends, Real Estate

Starting the new year with happy thoughts about the Tampa real estate market is the way to go. Thoughts of a bountiful, healthy and happy 2012 coupled with goals and action plans will help in making this 2012 a better year than 2011 in terms of real estate sales.

Here are some great Tampa Bay real estate statistics going into the new year, as sourced from the Greater Tampa Association of Realtors, the Florida Realtors and the National Association of Realtors:

Increase in sales of Tampa-area residential sales over the year

Sales of housing units increased year-over-year for 10 months out of 11 months in 2011. In November 2011, a total of 1,523 units were sold, marking an increase of nearly 7 percent from 1,421 units in November 2010.

Continued drop in housing inventory

From 21,073 units in December 2007, the housing inventory continued to decrease month over month and year over year to drop to only 9,779 in November 2011. This marked a total decrease of 54 percent. The substantial drop can be interpreted in a positive way as an indication of a continued demand for homes for sale in Tampa. A smaller inventory can also mean an increase in home prices, as a rising demand for a diminishing inventory would push prices up.

Decline in average days on market (DOM)

In 2011, the highest average DOM was 117, which was in June. The DOM continued to drop month over month until it reached only 103 in November. The drop means that homes are not staying long on the market and are getting sold faster.

Tampa Bay real estate market is the 7th most searched online in the U.S.

The Tampa-St. Petersburg-Clearwater metro area was the seventh most searched real estate market online in November 2011, according to Realtor.com. Compared to other Florida metro areas, the Tampa area was the most searched. The closest Florida markets were the Orlando area, which ranked 11th nationwide, and the West Palm Beach-Boca Raton area, which ranked 13th.

Tampa existing single-family homes for sale are the most in demand in Florida in 2011

From January to October, the Tampa real estate market sold more existing single-family homes than any other market in Florida. It was only in November when Orlando had more sales by only 9 units. A total of 2,050 existing single-family homes were sold in November, with the most sold so far in March when 2,782 units were sold.

Explore opportunities in the Tampa real estate market. Contact Tampa4u.com.

Reasons Why Tampa Was Cited As One of 10 Best Cities to Start a Business

Published by nora | Filed under Buyer / Seller Tips, Communities, Real Estate

Why did Kiplinger cite Tampa as one of ten best cities to start a business? It’s mainly because of outstanding efforts by the city, local government agencies, local nonprofits, and private-public partnerships to help new business enterprises. And there are others.

Here are reasons that Kiplinger cited as Tampa’s assets in encouraging people to start businesses, including reasons that have been known to people who have invested in Tampa:

Tax Credits

The city of Tampa provides its own tax incentives to new and existing businesses, in addition to those offered together with the state of Florida and the county of Hillsborough, and those provided in partnership with the Tampa Hillsborough Economic Development Corp. Tampa offers, among others, Economic Development Ad Valorem Tax Exemption to businesses that expand in Tampa and create jobs. Hillsborough County offers wage reimbursement of 50 percent of the wage cost of new jobs for three months for small businesses with ten or less workers and that are hiring new employees.

The state of Florida meanwhile offers the following tax incentive programs:

• Rural and urban jobs tax credit
• Qualified target industry tax refund
• High impact performance incentive
• Florida enterprise zone program
• Capital investment tax credit
• Community contribution tax credit
• Brownfield redevelopment bonus

No Personal Income Tax in Florida

The absence of personal income tax in Florida is also an attraction for people planning to start a business or encouraging prospective partners or key employees to come and work in Tampa.

Plenty of Nonprofits helping Tampa businesses

These are just some of many nonprofits helping businesses in the Tampa Bay area:

Tampa Bay Innovation Center. This links entrepreneurs with business mentors and also organizes networking events and conferences.

Tampa Hillsborough Economic Development Corp. This organization has been teaming up with the cities of Tampa, Temple Terrace and Plant City in attracting investors to the area and helping businesses in their expansion efforts. One of their specialties is identification of corporate relocation and expansion opportunities.

Small Business Information Center. This helps women- and minority-owned small enterprises in Hillsborough County. It provides business counseling and workshops and offers resource materials.

Tampa Bay Technology Forum. Organizes educational, advocacy, and networking events

Participation in the Startup America Partnership

Tampa is among top cities participating in this nationwide initiative that has allocated more than $730 million to new business enterprises throughout Florida and six other U.S. states.

Small-Business-Friendly City

The following statistics show that Tampa is a small-business-friendly city:

• 52,062 small businesses
• 93.1 is the cost of living score for the self-employed
• $7 million in invested venture capital
• 1.7 patents per 10,000 residents

Come to Tampa. Start a business. View Tampa real estate. Talk to a Tampa4u.com realtor.

Tampa Bay Real Estate Market Is Most Searched Online Among Florida Metro Areas

Published by nora | Filed under Buyer / Seller Tips, Market Trends, Real Estate

Among 146 metropolitan areas in the U.S., the Tampa Bay real estate market is the seventh most searched online in November 2011, and in Florida, it is the most searched market, according to Realtor.com. It surpassed other well-known markets such as Miami and Orlando. Its seventh ranking nationwide was also an improvement from its eighth ranking in November 2010.

An online search for each market means an executed real estate search, with the searcher or potential homebuyer entering a zip code, neighborhood, town, city, or state, and optional criteria such as price range and number of bedrooms. The count includes all property types such as single-family homes, townhomes, condos, co-ops, commercial properties, raw land and multi-family properties.

The Tampa-St. Petersburg-Clearwater metro area was the only Florida metro area in the Top Ten ranking. The next highest ranking Florida area was Orlando, which ranked 11th.

Here’s how Florida real estate markets ranked in online searches in November:

7  Tampa-St. Petersburg-Clearwater
11  Orlando
13  West Palm Beach-Boca Raton
15  Fort Lauderdale
18  Miami
35  Fort Myers-Cape Coral
39  Sarasota-Bradenton
44  Jacksonville
49  Melbourne-Titusville-Palm Bay
53  Fort Pierce-Port St. Lucie
56  Daytona Beach
60  Naples
68  Lakeland-Winter Haven
118  Pensacola
121  Tallahassee
125  Ocala
133  Gainesville
134  Punta Gorda

Nationwide, the ten most searched markets in November 2011 were the following:

1  Chicago, Illinois
2  Detroit, Michigan
3  Los Angeles-Long Beach, California
4  Phoenix-Mesa, Arizona
5  Atlanta, Georgia
6  Philadelphia-New Jersey, Pennsylvania
7 Tampa-St. Petersburg-Clearwater, Florida
8  Las Vegas, Nevada
9  Dallas
10  Riverside-San Bernardino, California

The continued surge in online searches for homes in these metro areas indicate an improving confidence of buyers in the U.S. housing market, particularly in the Tampa Bay real estate market. As a result of increase home buyer demand, home prices continued their rising trend. In many of the 146 metro markets included in the Realtor.com survey, median list prices continued to increase year-over-year. The U.S. median list price in November 2011 was $189,900, an over-the-year increase of 4.05 percent.

The metro area with the highest median list price in November 2011 was San Francisco, California, with a median list price of $625,000. Following was the Santa Barbara-Santa Maria-Lompoc, California area, with a median list price of $539,250. These areas were, however, ranked only 45th and 88th, respectively in online searches in November.

Among the ten most searched real estate markets, the metro area with the highest median list price was
the Los Angeles-Long Beach area, with a median list price of $329,000; the Philadelphia area, with a median list price of $229,900; and the Riverside-San Bernardino area, with a median list price of $199,000.

The Tampa Bay real estate market had a comparatively competitive median list price of $144,200 in November 2011. If you like to find homebuying or investment opportunities in this market, contact Tampa4u.com.

5 Signs that U.S. Housing Market Is Ending 2011 on a High Note

Published by nora | Filed under Buyer / Seller Tips, Market Trends, Real Estate

Hopes are up that the U.S. housing market will do much better in 2012 despite continued home price reductions and foreclosure in certain local housing markets. Here are five indications that the national housing market is ending the year 2011 on a high note:

Increase in buyer demand for homes for sale

According to the HousingPulse survey by Campbell/Inside Mortgage Finance, the demand for homes for sale increased in November and that the average time spent by bank-owned properties on the market dropped to just a little bit more than 10 weeks, the shortest market time in 15 months.

Substantial Gains by Homebuilder stocks

The stocks of the country’s biggest homebuilders posted substantial gains on December 20, 2011 due to the rise in homebuilder confidence and the surge in housing starts in November. Builders including Pulte Group, D.R. Horton, KB Home, Toll Brothers, Lennar and Ryland Group all experienced gains, pushing up the Dow Jones Industrial Average.

Based on data from the U.S. Commerce Department, housing starts increased by 9.3 percent in November from housing starts in October. Over the year, housing starts shot up by 24.3 percent from the November 2010 data. The adjusted rate of 685,000 housing starts in November 2011 was the highest figure since April 2010.

Rise in Homebuilder Confidence

The National Association of Home Builders/Wells Fargo Builder Confidence Index increased in December 2011 for the third straight month. The December increase to 21 was the highest level the index reached since May 2010. Builders have been energized by the increasing number of inquiries for new homes for sale from buyers, particularly those in the South, the West and Midwest.

Analysts said that the homebuilder confidence index is still low, but the upward trend of the index is a positive sign. Builders know that buyers are aware of the abundance of homes listed with substantial reductions and of the significant drops in mortgage rates.

Increase in Existing Home Sales in November 2011

The annualized rate for existing homes sold in November increased by 4 percent to 4.42 million, the highest level since January 2011, according to the National Association of Realtors. This is already the final figure, as the much-commented-about NAR revision of home sales involved only sales figures from 2007 to October 2011. The total existing home sales over this period was revised and reduced from 24.8 million to 21.3 million units.

Drop in Housing Inventory and Rice in Median Price in November

The total number of homes listed for sale in various multiple listing services across the country dropped to 2.01 million units, according to Realtor.com. This represented a drop of 4.8 percent from October 2011 and by 21.3 from November 2010. The drop in housing inventory can be a positive or negative indicator for the U.S. housing market, but if it means a substantial rise in home prices and if it energizes the market, then this is a good sign. Median home prices increased in 94 out of 146 markets in November 2011.

There are still great deals in the Tampa housing market.  Contact Tampa4U.com.

 

Tampa Real Estate Market Pursued by Arizona Home Builder Meritage Homes

Published by nora | Filed under Buyer / Seller Tips, Real Estate

Arizona homebuilder Meritage Homes not only cited the strength of the Tampa real estate market; it also acted to take advantage of it. In the first week of December 2011, it announced it will build energy-efficient homes in the Tampa area in the first months of 2012. This decision means that Meritage believes there are a lot of homebuyers looking for homes in Tampa and surrounding areas, and not simply homes, but green homes.

As mentioned in various news reports, Meritage Homes chief executive Steve Hilton described the Tampa area as a place of opportunity for its resources and for its managers in the Southeast. He said, “The Tampa area is one of the most attractive homebuilding markets in the southeastern United States, with the second-largest economy in Florida and strong job growth expected.”

Meritage executives highlighted the large employment base in Tampa and the city’s strong industries, such as retail, medical, energy and technology. The decreasing number of Tampa real estate listings and relatively low supply of existing homes for sale are also among the factors for the company’s expansion into the area.

The decline in listings was also among the positive items in the 2011 monthly reports released by the Greater Tampa Association of Realtors. From 16,644 homes for sale in November 2010 to 9,779 units in November 2011, the over-the-year drop was a sharp 41.25 percent. In November 2008, the inventory was 20,650, posting a substantial drop of 52.64 percent over the three-year period.

According to its investor webpage, Meritage Homes is among the top ten homebuilders in the U.S. based on homes sold and has built over 70,000 homes in 149 communities across the country. It builds homes for various buyers, including move-up, first-time, active adult and luxury. It’s also known for its green homes, having been the first large national builder to become 100-percent Energy Star-qualified in every housing unit built since January 2010.

It’s not only Meritage pursuing the robust Tampa real estate market; community builder NVR has also announced its acquisition of land where to build Ryan Properties homes in St. Petersburg, which is part of the Tampa-St. Petersburg-Clearwater metropolitan area.

These home builders will join many other local and national builders who have been building dream homes in the Tampa area. Lennard, Centex, M/I, Ryland, Pulte, GL, David Weekly, KB, Southern Crafted, and more – they’re all here. Contact Tampa4U.com for assistance in finding your dream home.

Tampa Condos in the $200k to $250K Price Range Are Among Most In Demand

Published by nora | Filed under Buyer / Seller Tips, Market Trends, Real Estate

Among the higher priced Tampa condos listed for sale in 2011, those in the $200K to $250K were the most popular, based on the November 2011 report released by the Greater Tampa Association of Realtors. A total of 199 condo, townhouse and co-op units were sold over the period from January to November 2011, with the most number of units sold in June and August. This price range accounted for 4.4 percent of the 4,569 condos, townhomes and co-ops sold over the 11-month period.

In the lower-priced category, the less-than-$50K condos, co-ops and townhomes were the most in demand, as this price range is also the target of investors. Bulk sale of investment units is often the type of transaction that pushes up the volume of sales in this range. A total of 1,573 units were sold through the 11-month period, accounting for 34.4 percent of total sales of condos, co-ops and townhomes.

The second and third most in demand price ranges in the lower-priced category were the $50K to $60K price range and the $60K and $70K price range, which had sales of 432 units and 402 units, respectively.

On the highest end of the price spectrum, only a few decided to buy. Through the 11-month period, only three bought units priced at $1 million and above, only one bought between $900K and $1 million, and only 19 buyers purchased units priced between $600K and $900K.

All in all, a total of 2,679 condos, 1,884 townhouses, 6 co-ops, 14,985 single family homes, 506 mobile homes, 448 villas and 110 other types of homes were sold over the January to November 2011 period, making a total of 20,618 units. The average list price was $158,793 and the average sale price was $150,266. The lowest average sale price was $32,531 and the highest sale price was $2,052,734.

What Can Buyers Get for $200K to $250K, the Most In Demand Higher Price Range?

They can get beautiful homes with spectacular views of the ocean or a chain of lakes and access to facilities needed for modern living. Here are some Tampa condos or units in the Tampa Bay area currently on sale:

• A $209,000 one-bedroom fully furnished condo at Sunset Reef along Gulf Boulevard in Redington Shores. Buyers have two parking spaces, access to white sandy shores, and spectacular sunsets.
• A $210,000 three-bedroom second-floor multi-story condo at Shores of Long Bayou in St. Petersburg. It is located in a 77-acre nature preserve, has views of the beautiful bay and at the same time it’s just five minutes to the beach.
• A $249,000 two-bedroom condo at Clearwater Point on Bayway Boulevard in Clearwater. Buyers can enjoy Southwest views, a secluded beach and three pools.

There are other Tampa condos as beautiful as these, if not more beautiful. Contact Tampa4U.com.

Will the Republican National Convention Impact Tampa Real Estate Market?

Published by nora | Filed under Buyer / Seller Tips, Market Trends, Real Estate

Economic impact projections for the 2012 Republican National Convention in Tampa have highlighted the expected upsurge of customers for the area’s hotels, restaurants, taxicabs, buses, tourist attractions and small businesses such as photography, flower delivery and arts and crafts enterprises. Will the RNC also help push the Tampa real estate market?

The convention will be held for four days in August, and it’s expected that around 50,000 people will come to Tampa, including 15,000 media professionals. These people will, of course, focus on convention events, but they’re also expected to go around and experience the city’s attractions and night life. We can also assume that a number of them will think of coming back.

Here are ways that the Republican National Convention may give the Tampa real estate market a big push:

Prospective retirees might like what they see

Attendees looking for a place to spend their retirement years might get enamored with Tampa and consider exploring properties here. They might like the unique blend of the urban and the rural and of the structures and the natural in the Tampa Bay area. They’ll see that they can live in serene surroundings, yet have quick access to various facilities and activities that make life more active or more meaningful.

In our work as Tampa real estate professionals, we often receive emails saying they’ve attended an event in Tampa and liked what they saw, and asking for help in finding a Tampa home to move to.

Prospective investors will have actual view of the profitable market they’ve read about

They’ve heard about the abundance of investment properties in the Tampa Bay area; now, they can take a look. Some of them may be contacting agents before the convention to schedule some time for viewing properties.

Local small business owners can earn money for housing

Small business owners, particularly those that will be selected by the RNC to handle certain services during the convention, are expected to earn a windfall. They can use this to move up or to finally buy that home they’ve been checking.

On the whole, convention participants will be able to realize the pluses of living in Tampa, which include the following:

• Access to beaches and lakes
• Abundance of waterfront homes
• Affordability of Tampa homes
• Nationally recognized universities and K12 schools
• Tampa International Airport and Port of Tampa
• Attractions, restaurants, arts centers, museums and parks
• Waters for boating and fishing
• Special resident discounts on cruises
• Nearly all-year-round good weather

A warm welcome to everyone coming to Tampa for the Republican National Convention!

4 Reasons Why Prospective Facebook IPO Millionaires Should Consider Investing in Real Estate

Published by nora | Filed under Buyer / Seller Tips, Miscellaneous, Real Estate

A Reuters report said that more than a thousand Facebook engineers, managers, salespeople and other employees will become millionaires once the planned Facebook IPO happens. It also said that those who joined Facebook in its early years will benefit the most, as they were given generous numbers of shares. Later, they and others who came after them were also given opportunities to increase their shares.

Now, what will these new millionaires do with their money? They could perhaps pursue their dream travels and check their bucket list, such as going to exotic cities or to places few people have ever been. They could buy their dream cars and dream boats, and most particularly, their own homes.

Surely the prospective Facebook IPO millionaires have plenty of ideas swirling on their bright minds, but they could share their blessings and help the economy by investing in real estate. But they wouldn’t only be helping the economy when they buy homes, they’d be also helping themselves.

Here are 5 good reasons why they should consider investing in real estate, particularly the residential sector:

They’ll Be Sharing the Blessings, Making the Wealth Go Around

Buying homes would help jump-start the real estate market in the locality where they buy, helping realtors, builders, construction workers, inspectors, suppliers and small renovation businesses. These people in turn buy goods and help energize the economy.

Many Luxury Homes Are No Longer Luxury-Priced

Luxurious homes are being listed at unbelievable discounts. Now people can buy these at or below their real values, and not at their artificially-propped values. Even if the housing market takes a couple more years to recover, these homes would retain their resale value. And if the real estate market recovers fast, then they’re in for some more profits if they decide to resell.

Low-Priced Investment Homes Abound

In many housing markets throughout the U.S., one can find homes priced for investors. They range from a few thousand dollars to a few hundred thousand dollars. There are realtors specializing in these properties, gathering listings of this kind, ready for investors that buy in bulk. There are also people devoted to managing properties for property owners engaged in other pursuits.

Second Homes in Vacation Destinations Give Several Benefits to Owners

Vacation homes in popular tourist destinations such as Florida can be used profitably for short-term rentals, for family use during vacations, for sharing with friends or relatives, or for travel rewards to outstanding employees.

As the news about the Facebook IPO millionaires continue to grab headlines, we hope that soon they’ll also grab headlines making a difference.