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Old 07-05-2007, 09:22 PM
 
8 posts, read 33,153 times
Reputation: 10

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Hi, we're moving to South Tampa from Ft. Lauderdale, where the market has plummeted. In FTL, sellers were asking high, not selling, and now they have decreased their asking prices significantly (30%+) and they are selling. How does South Tampa compare? Are sellers still asking high, or are they in line with the true selling value? Are there deals to be had? Thanks!
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Old 07-06-2007, 07:05 AM
 
Location: South Tampa
192 posts, read 1,161,487 times
Reputation: 132
I'm not an expert but I do try to keep up with values in south Tampa since I'm directly affected myself. There definately has been a drop in prices since the peak of the boom - I've personally seen some homes' asking prices drop by 20 percent and of course there is a bigger inventory of available houses now and south Tampa is no exception.
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Old 07-06-2007, 07:15 AM
 
Location: Tampa, FL
133 posts, read 536,518 times
Reputation: 39
I agree, I have seen home prices drop over the past year as well. In order to get homes sold, the seller need to be realistic with there original asking price. Currently, new home contruction (Inventory homes) are providing large discounts which makes it harder for individuals to re-sale their home. Have you considers Brandon, Gibsonton, Riverview or Apollo Beach for new home construction or do you prefer the South Tampa area?
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Old 07-06-2007, 07:50 AM
 
Location: South Tampa - Bayside West Neighborhood
1,824 posts, read 8,351,830 times
Reputation: 1035
I have a buddy who oes appraisals for a living, I live in South Tampa and can tell you that my 1948 home was assesed at 312k in 2005, and last week was assesed at 304k.
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Old 07-06-2007, 07:51 PM
 
393 posts, read 1,493,686 times
Reputation: 179
Definitely a buyer's market. Check out this article. Tampa's number 1.
Best Markets for Buyers (http://promo.realestate.yahoo.com/Best_Markets_for_Buyers.html - broken link)
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Old 07-09-2007, 07:19 AM
 
Location: Tampa, FL
277 posts, read 370,195 times
Reputation: 35
Quote:
Originally Posted by kduszak View Post
Hi, we're moving to South Tampa from Ft. Lauderdale, where the market has plummeted. In FTL, sellers were asking high, not selling, and now they have decreased their asking prices significantly (30%+) and they are selling. How does South Tampa compare? Are sellers still asking high, or are they in line with the true selling value? Are there deals to be had? Thanks!
I live in South of Gandy. When we first looked here, the housing prices that we were looking at were between $200k-$300k. This was way out of our reach. Now, many of the same houses are going for $135k-$180k. The market, in South of Gandy has changed quite a bit. I guess Tampa Westshore Yacht Club and New Port did not increase the cost of living as much as people thought it would. In fact, those places are sold out, but the investors have lost a lot from there. They are not getting the 100% profit they were hoping to get.
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Old 07-11-2007, 07:03 PM
 
4 posts, read 32,004 times
Reputation: 15
Watch the property taxes they are killing the market right now! Make sure you check what the taxes and Insurance are going to be before you make an offer. S. tampa is considerably more expensive than a majority of the metro areas in tampa.
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Old 08-28-2007, 09:57 AM
 
6 posts, read 51,014 times
Reputation: 15
I hear you in regards to the prices in Fort Lauderdale. I live in Apollo Beach ( Between Tampa and Sarasota ) and let me tell you, there are many houses in the process of foreclosure. Yes, there are deals to be made, but again, better than 30% down in Fort Lauderdale, not sure...The issue at this point is the balance between existing houses and new construction. We have a high homestead tax which is a bummer for any buyer and seller...

One thing for sure, is compared to Fort Lauderdale, we still have many green spaces and areas to be developed, roads to be built or widen,etc...And the one think found thru so far according to Forbes Magazine, Tampa area is one of the worst city in America for young professionals. That being said, come and take a look!

Take care


Quote:
Originally Posted by kduszak View Post
Hi, we're moving to South Tampa from Ft. Lauderdale, where the market has plummeted. In FTL, sellers were asking high, not selling, and now they have decreased their asking prices significantly (30%+) and they are selling. How does South Tampa compare? Are sellers still asking high, or are they in line with the true selling value? Are there deals to be had? Thanks!
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Old 08-28-2007, 04:21 PM
 
Location: Tampa Bay area
8 posts, read 17,184 times
Reputation: 10
There is still a little bit of "squeeking" room in the pricing of homes in the Tampa Bay area in general. However, I do seem to see that most of the homes (listed with a reputable brokerage firm, not FSBO) are listed at a fair market value. Sometimes the FSBOs aren't educated yet as to what the real market value is and just put up a sign and hope for the best.
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