Is this a good time to buy real estate in the Tampa, Florida area? | Apollo Beach, Apollo Beach Fl real estate, Tampa Bay Homes
Wednesday, December 30th, 2009I know prices have skyrocketed in the last 3 years, but it seems the market has flattened out. What do you think?
I’m a mortgage broker in Tampa and work with several Realtors and appraisers and other real estate professionals. I think we have a very large gap still between what the buyers perceive they should pay and what the sellers think they should get.
Many sellers are still looking at last years prices thinking they can and will get 10-20% more than last year. In MOST cases, that is not a reality. Also, many buyers are thinking they can buy houses for 2002 prices. There is just an enormous buy/sell gap. This is causing houses to pile-up like I-4 in rush hour!
I think it is a very good time to buy provided you are patient, that you find a seller who is realistic and that you are realistic.
Also, historically speaking, interest rates are fantastic right now. That doesn’t mean you should pay too much for a house, but if rates go up – it is very simple to see how this impacts the comparative price of homes.
Also, there are many creative ways to get into a house b/c the market is a little slow for sellers.
Be patient, know what you want and where you want it. I’m not 100% sure you will get everything you want, but it certainly seems to have turned into a buyers market.
Happy house hunting!
Joe…
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