Home Prices Rise in Tampa Bay Area! (Sarasota, Bradenton: short sale, real estate)

[The Villages Guy]

Here is even more good news for Tampa Bay.

Home prices rise in Tampa Bay area - Tampa Bay Times

"
TAMPA — Home prices here climbed to their highest point in two years, extending hopes of a broad housing recovery in Tampa Bay and beyond, according to new Standard & Poor's Case-Shiller home price indexes released Wednesday.


Swelling demand from home buyers and investors, coupled with fewer homes and foreclosures on the market, helped to speed up the market's return. Steady job gains and record-low mortgage rates also helped."

[tinytrump]

Rent prices in Tampa are crazy--- nobody's gotten a real raise and now we are 2% less in usable income-- what are they thinking?? Like these corporations just fixed on keeping people poor. I read an interesting article on the class action suit againts BOA for MTG fraud and how they sent all the auditors away, and decided just to settle the claim- because the inconsistencies were so great... amazing. Unless you have a good lawyer, I would NOT sign anything on paper anymore.

[gypsychic]

Originally Posted by PriusH8r

Here is even more good news for Tampa Bay.

Home prices rise in Tampa Bay area - Tampa Bay Times

"
TAMPA — Home prices here climbed to their highest point in two years, extending hopes of a broad housing recovery in Tampa Bay and beyond, according to new Standard & Poor's Case-Shiller home price indexes released Wednesday.


Swelling demand from home buyers and investors, coupled with fewer homes and foreclosures on the market, helped to speed up the market's return. Steady job gains and record-low mortgage rates also helped."

Same here:

Home prices in North Port-Bradenton-Sarasota increase - Real Estate

And rental prices (if you can even find one) are unbelievable. It's unreal...

[The Villages Guy]

Originally Posted by gypsychic

Same here:

Home prices in North Port-Bradenton-Sarasota increase - Real Estate

And rental prices (if you can even find one) are unbelievable. It's unreal...

Believe it. We are most likely at the beginning of another long term increase. Hopefully this time it is more measured and not insane like the last one.

Supply and demand always wins out, so I would expect as more people start buying again, less will be renting....therefore bringing down rental prices.

[algia]

Can you please put all this in one thread!

[algia]

Incomes have not increased. So if this continues, we're heading towards another bubble.

[HWTechGuy]

Rental prices are a bit on the crazy side, given the rest of the economic picture for the general area. During our house hunting process, one house we really loved was a short sale and would have taken many months to close. I briefly considered renting a place so I could wait it out, but the rental prices scared me off that idea really fast. I was looking at monthy rent that was 40% higher than my mortgage payment. Yeah, I could afford it on the short-term, but viewed it as wasting money that could have gone towards paying the mortgage on the place I ended up buying.

[The Villages Guy]

Originally Posted by algia

Can you please put all this in one thread!

That would not make sense. They are different topics.

1) Home price appreciation

2) Tampa Bay ranking as fiscally fit

3) Bidding wars

4) Tampa Bay economic recovery

[The Villages Guy]

Originally Posted by algia

Incomes have not increased. So if this continues, we're heading towards another bubble.

Very possibly at some point. Consumers create bubbles buying faster and paying more and more. Then it calms down and comes back to reality and then consumers start the cycle all over again. Supply and demand.

[algia]

Originally Posted by PriusH8r

Very possibly at some point. Consumers create bubbles buying faster and paying more and more. Then it calms down and comes back to reality and then consumers start the cycle all over again. Supply and demand.

This is a very reckless lifestyle that ends up hurting those who are responsible.