Tampa home sales increase to higest level since 2006 (Spring Hill: renters, mortgages)

[90sman]

Average sales prices dropped to $112,900.

Tampa area home sales soar to highest level since boom

[Innertuber]

Maybe it's time to jump back in. Gotta convince the wife!

[user8]

if you plan on staying in the area and have a good income, it's silly to not think about buying something down here in the next 6 months to a year. the prices are unbelievably low.

[Pragmaticus]

I assume you meant median house price.

The numbers appear to be impressive on the surface! A huge decrease from a year ago!

But don't get fooled that the low median value combined with high volume of sale just says that only houses at the lower end are moving now. For people who follows price/volume action of the housing market or anything for that matter I believe they know what to make out of it.

I encourage those who want to buy home to look the entire distribution and follow closely month to month since the media report is restricted to a selected aggregate metrics for a large area.

Another telling fact is that there is now a six month supply............

[Irishiis49]

I think cash buyers can get a good deal in this market, alot of sellers are afraid their homes won't appraise out and cash buyers can alleviate that hassle which in turn motivates the seller to take a lower offer!

[TampafromPhilly]

Sounds promising!

[newyorker24]

I am noticing some improvements in my subdivision with the selling prices. I was shocked to see some houses similar to mine sell for what I paid for mine at the end of 2007.

[chi_tino]

The Case-Shiller prices out today note that the Tampa market is now down 8 months in a row. The cheerleaders who think that rising prices are good for families are not only wrong on that count, but wrong on their prediction of which way this market is going.

[newyorker24]

Originally Posted by chi_tino

The Case-Shiller prices out today note that the Tampa market is now down 8 months in a row. The cheerleaders who think that rising prices are good for families are not only wrong on that count, but wrong on their prediction of which way this market is going.

The Tampa market overall might be down, but there could be pockets that are doing better. As far as rising prices, there's nothing wrong with that. They cannot stay as low as they are now forever. I'm not saying the way prices got in 2005-2006 is good either, but there has to be a happy medium. The more prices do down and stay low the more likely it is that homeowners will choose to walk away from their homes because they are paying mortgages on houses that are now worth half of what they owe on them, or even less. That will only add to the problem. And as much as I don't like them, investors put a lot of money into housing around here. If they do not recoup it they won't be investing in anything else.

The only people I know rooting for the prices to keep going down or even stay where they are seem to be selfish renters who hope they will be able to buy a 2,000 square foot, 5 year old house for $50k pretty soon.

[Pragmaticus]

Originally Posted by newyorker24

The Tampa market overall might be down, but there could be pockets that are doing better. As far as rising prices, there's nothing wrong with that. They cannot stay as low as they are now forever. I'm not saying the way prices got in 2005-2006 is good either, but there has to be a happy medium. The more prices do down and stay low the more likely it is that homeowners will choose to walk away from their homes because they are paying mortgages on houses that are now worth half of what they owe on them, or even less. That will only add to the problem. And as much as I don't like them, investors put a lot of money into housing around here. If they do not recoup it they won't be investing in anything else.

The only people I know rooting for the prices to keep going down or even stay where they are seem to be selfish renters who hope they will be able to buy a 2,000 square foot, 5 year old house for $50k pretty soon.

Hey, you can find that now in Spring Hill. No need to wait