Welcome to City-Data.com Forum!
U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > U.S. Forums > Florida > Tampa Bay
 [Register]
Tampa Bay Tampa - St. Petersburg - Clearwater
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 07-24-2013, 07:29 AM
 
5,606 posts, read 3,486,816 times
Reputation: 7413

Advertisements

2013 will be the best year for construction since 2007.
Promising numbers in the Pinellas real estate market

Reply With Quote Quick reply to this message

 
Old 07-24-2013, 08:09 AM
 
Location: Spring Hill Florida
12,135 posts, read 16,040,155 times
Reputation: 6085
The economy improved. The results are trickling along.
Reply With Quote Quick reply to this message
 
Old 07-24-2013, 09:44 AM
 
Location: Tampa
440 posts, read 592,891 times
Reputation: 532
Looks like FL is looking good for home flippers too, especially Tampa
Top 10 Real Estate Markets Where Home Flippers Are Making a Killing | Wall St. Cheat Sheet
Reply With Quote Quick reply to this message
 
Old 07-24-2013, 09:44 AM
 
3,826 posts, read 5,772,802 times
Reputation: 2397
Hopefully we will not witness the crash within next 2 years.... because real estate is making another bubble with all this new developments and increase of prices and fake inflation on rates.
Reply With Quote Quick reply to this message
 
Old 07-24-2013, 09:46 AM
 
3,826 posts, read 5,772,802 times
Reputation: 2397
Quote:
Originally Posted by Beacher23 View Post
Looks like FL is looking good for home flippers too, especially Tampa
Top 10 Real Estate Markets Where Home Flippers Are Making a Killing | Wall St. Cheat Sheet
I looked for flippers within my area of interest and most houses were purchased by California guys and most houses were under $200 range. I saw few houses going back to the market within few weeks of original sale. They were priced 40% higher and listed as move in ready homes... too bad these houses still had toxic drywalls and hopefully new buyers will do their research...
Reply With Quote Quick reply to this message
 
Old 07-24-2013, 10:39 AM
 
2,729 posts, read 5,181,726 times
Reputation: 2357
Hmm.....from the article

Quote:
Of special note: June sales of homes priced between $600,000 and $999,000 were up more than 93 percent compared to last June

And then this
Quote:
In June, the average sales price was $232,000. That is a price-point Parsley can compete against by emphasizing the value of new construction.

Of course, the average price is going to be pulled by the higher price sales that almost doubled. Would have been more informative if they reported the median house sale numbers.

But anyway you look at it, prices are going higher across the region. Apart from refinancing (which with the rate hike is less and less interesting), I don't see how this sudden increase helps the area.

Reply With Quote Quick reply to this message
 
Old 07-24-2013, 01:16 PM
 
Location: North of South, South of North
8,704 posts, read 10,845,005 times
Reputation: 5150
Quote:
Originally Posted by Roscoe Conkling View Post
2013 will be the best year for construction since 2007.
Promising numbers in the Pinellas real estate market

Excellent news. This is just one of the many reports over the last several months showing us headed in the right direction and far ahead of many areas of the country. Very glad to have gotten here when we did. JMO of course.
Reply With Quote Quick reply to this message
 
Old 07-25-2013, 06:32 AM
 
Location: Clearwater, Florida
70 posts, read 177,040 times
Reputation: 62
For MeInDenudinFL:

From the latest Pinellas Realtor Organization statistics:
June 2013 median sales price for single family homes - $159,000, up 18.7% from last June but down from $162,250 in May. "Median Sale Price is our preferred summary statistic for price activity because, unlike Average Sale Price, Median Sale Price is not sensitive to high sales prices for small numbers of homes that may not be characteristic of the market area".

Past charts I've reviewed show that prices tend to peak each year in the May-June period and then either stay level or show a slight decline for the rest of the year with a jump in one or two of the last 3 months and then a noticeable drop in January. Just went over with a client this week that prices don't just keep going up throughout the year which is one reason that price comparison is most commonly done against the same month in the previous year(s).

Prices hit bottom at the beginning of 2011 and started increasing in spring of 2011 and have been increasing since but not as fast as this year. One reason this year has a faster increase is the constrained inventory.

2 things that the increased prices will help - more people who were underwater on mortgages are now no longer underwater and people who have wanted to sell but were waiting will start putting their homes on the market which will help with the low inventory and will help the market level out and which will slow the price increases. Sales in June were lower than May and inventory has started to show a slight increase rather than decreasing like it had been.
Reply With Quote Quick reply to this message
 
Old 07-25-2013, 08:12 AM
 
2,729 posts, read 5,181,726 times
Reputation: 2357
Quote:
Originally Posted by rnedd View Post
For MeInDenudinFL:

From the latest Pinellas Realtor Organization statistics:
June 2013 median sales price for single family homes - $159,000, up 18.7% from last June but down from $162,250 in May. "Median Sale Price is our preferred summary statistic for price activity because, unlike Average Sale Price, Median Sale Price is not sensitive to high sales prices for small numbers of homes that may not be characteristic of the market area".
Thanks for putting the other stats out. See what I am saying, the newspaper article run with 232K number when it is far from what the typical house (median) would sell which is 159K.

Quote:
Past charts I've reviewed show that prices tend to peak each year in the May-June period and then either stay level or show a slight decline for the rest of the year with a jump in one or two of the last 3 months and then a noticeable drop in January. Just went over with a client this week that prices don't just keep going up throughout the year which is one reason that price comparison is most commonly done against the same month in the previous year(s).
Yep. That's seasonality just like the weather (it rains in summer and dry in fall). To see the real appreciation of the area, one need to remove the seasonality from the data.

Quote:
Prices hit bottom at the beginning of 2011 and started increasing in spring of 2011 and have been increasing since but not as fast as this year. One reason this year has a faster increase is the constrained inventory.
Agreed. From what I see in my neck of woods people who bought house in 2010 got the best deal--that was the bottom for my neighborhood as far as I can tell.

Quote:
2 things that the increased prices will help - more people who were underwater on mortgages are now no longer underwater and people who have wanted to sell but were waiting will start putting their homes on the market which will help with the low inventory and will help the market level out and which will slow the price increases. Sales in June were lower than May and inventory has started to show a slight increase rather than decreasing like it had been.
My unscientific theory for sudden jump in price is all those people that are underwater and could afford their places are not going to sell until the market value make sense to them hence depressing the inventory.
Reply With Quote Quick reply to this message
 
Old 07-26-2013, 05:42 AM
 
Location: Native of Any Beach/FL
35,401 posts, read 20,779,044 times
Reputation: 14144
Expert: 4,000 new jobs in "pipeline' for Hillsborough | Breaking Tampa Bay, Florida and national news and weather from Tampa Bay Online and The Tampa Tribune | TBO.com

more news and even another write up today about the buildings coming together down town, they report the ones built already full... For those naysayers who think nothing will work in Tampa and want to keep it the same O,,, move over. There are miles of rural areas to go to, if you don't want the city life,,, but it is coming. Tampa is RIPE
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:


Settings
X
Data:
Loading data...
Based on 2000-2020 data
Loading data...

123
Hide US histogram


Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > Florida > Tampa Bay
Similar Threads
View detailed profiles of:

All times are GMT -6.

© 2005-2024, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top