Another Sign Of Real Estate Recovery
If you're a somewhat regular reader of this blog site, you probably have noticed how I've been saying that it looks like real estate may be "at or near" the bottom, that median prices appear to be stabilizing, and that the volume of sales has been increasing regularly throughout 2009. Consequently, the worst of the real estate problems may be behind us and this may be a really good time to buy a new home. Of course, I'm talking about Pinellas County when I say those things.
Well, here's some more wood for that fire I'm building. And it comes from a different place.
Just across Tampa Bay in Hillsborough County, the Greater Tampa Association of Realtors has issued sales figures for June in their county. For the second consecutive month, the number of homes sold and property values rose in Hillsborough.
The average price in Hillsborough was $173,544. That is an increase in value of 5-percent from May. The number of transactions was up a whopping 19-percent to 1,714 sales. What's more, the inventory of unsold homes in the MLS is now the lowest since June of 2006, and the time on market for Hillsborough is now an average of only 8.3 months.
This same type of thing is happening in Pinellas County, and I suspect Pasco County will see similar sales soon if they haven't already.
So, what does this mean?
Very simply this: If you're a buyer who has been waiting for the market to "bottom out" before you buy that new home, it certainly seems like the time is now. If you continue to wait thinking the market may go even lower, you are likely going to miss your opportunity. Great deals on real estate are out there, you just have to go find them and make an offer. That's what smart buyers are doing right now.
Look, the trick to getting the best deal today rests in the buyer's ability to properly time the market. That's a very tricky thing for most people to do. Buy too early, and you may loose money. If you wait too long, you've missed your chance at the best deal as prices start to inch their way back up.
Based on what I'm seeing in the Tampa Bay area, it sure appears to me that this is the time you've been waiting for, that home prices won't get much lower, that mortgage interest rates are very affordable, that the $8,000 first time buyer program comes to an end pretty soon, that there is still a great selection of homes from which to choose, and that many sellers remain very desperate to sell their property. That all works in the buyer's favor!
So, what are you waiting for? It's not gonna get much better than this! If prices have bottomed out now, there's only one way for them to go ... and that's what you are trying to avoid, isn't it?
As the advertisements always say: Act Now, Tomorrow May Be Too Late!
For more information on real estate in the Tampa Bay area, please visit my website at www.TheStPeteRealEstateSite.com.
Well, here's some more wood for that fire I'm building. And it comes from a different place.
Just across Tampa Bay in Hillsborough County, the Greater Tampa Association of Realtors has issued sales figures for June in their county. For the second consecutive month, the number of homes sold and property values rose in Hillsborough.
The average price in Hillsborough was $173,544. That is an increase in value of 5-percent from May. The number of transactions was up a whopping 19-percent to 1,714 sales. What's more, the inventory of unsold homes in the MLS is now the lowest since June of 2006, and the time on market for Hillsborough is now an average of only 8.3 months.
This same type of thing is happening in Pinellas County, and I suspect Pasco County will see similar sales soon if they haven't already.
So, what does this mean?
Very simply this: If you're a buyer who has been waiting for the market to "bottom out" before you buy that new home, it certainly seems like the time is now. If you continue to wait thinking the market may go even lower, you are likely going to miss your opportunity. Great deals on real estate are out there, you just have to go find them and make an offer. That's what smart buyers are doing right now.
Look, the trick to getting the best deal today rests in the buyer's ability to properly time the market. That's a very tricky thing for most people to do. Buy too early, and you may loose money. If you wait too long, you've missed your chance at the best deal as prices start to inch their way back up.
Based on what I'm seeing in the Tampa Bay area, it sure appears to me that this is the time you've been waiting for, that home prices won't get much lower, that mortgage interest rates are very affordable, that the $8,000 first time buyer program comes to an end pretty soon, that there is still a great selection of homes from which to choose, and that many sellers remain very desperate to sell their property. That all works in the buyer's favor!
So, what are you waiting for? It's not gonna get much better than this! If prices have bottomed out now, there's only one way for them to go ... and that's what you are trying to avoid, isn't it?
As the advertisements always say: Act Now, Tomorrow May Be Too Late!
For more information on real estate in the Tampa Bay area, please visit my website at www.TheStPeteRealEstateSite.com.
-30-
posted by Terry Ward at 4:22 AM
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