Tampa Bay housing prices - bottomed out? (Weston: real estate, crime)

[Fishhead]

NO WAY have they bottomed out.

Secondly, I do not recommend anyone moving to this area.......the crime, traffic, property taxes, insurance, etc., etc are ridiculous.

All for what, to watch the ****ty Bucs, attend a strip club, or visit the many crowded beaches affected by red tide.

There are so many areas of this great country better, and at a much, much more reasonable price.

GOOD LUCK

[scorp200]

Thanks guys...

Fishhead I've already lived there and love it - not into the Bucs (I know some would see that as sacriledge), into the Rays...no strip clubs for me - Pass A Grille is pretty uncrowded

St. Pete is where my heart is - NOT North Carolina, where I currently live.

Now I've gotta convince my boss to let me telecommute...

[Tampasteve]

Not to sound like the typical Realtor but I am seeing some significant market changes lately. For the past 2 months, I have seen a lot of people buying single family homes while condo/townhome sales have not increased. With all of the short sales and foreclosures out there, buyers are usually looking for and getting a deal. For home owners that have bought homes in the past few years, it is difficult to get from under their home. This month I have even been involved in 2 bidding wars which has not happened in A LONG TIME. The areas where I have seen the most activity include the intown neighborhoods, while the far suburbs are still struggling.Moderator cut: edit: removed realtor website

[boomer]

Below is data that shows the current housing trends for Hillsborough county. It seems that prices have begun to stabilize over the last few months. Many believe the market will over correct itself due to all the foreclosures and short sales. Another things to consider is the rising material cost for concrete, steel, and roofing materials for new homes due to fuel cost. New home builders are able to offset these material cost with lumber prices dropping. Once lumber prices rises back to normal prices, new home builder will have to raise their prices which should help decrease the inventory numbers for existing home. Also, many new home builders are writing off their losses this year so they can start showing profits in the future years to come.

Date ----------Median Price------Inventory

2008-09-01.....$194,990............42,465
2008-08-25.....$195,000............42,140
2008-08-18.....$198,235............42,111
2008-08-11.....$190,500............40,789
2008-08-04.....$199,000............42,938
2008-07-28.....$199,500............43,167
2008-07-21.....$199,900............42,553
2008-07-14.....$199,900............42,249
2008-07-07.....$199,900 ...........42,048

[C5Aprea]

agents wish it hit bottom so they dont have to get a second job.

you can buy this year, and only lose $50,000 in your house next year, or just wait. High taxes in this area will keep housing prices down for a while.

and the tax bill keeping everyone on the sidelines waiting to buy here didnt pass. They will bring it back up in March

[scorp200]

Hm...what's a girl without a down payment to do...

[TampaKaren]

Originally Posted by scorp200

Hm...what's a girl without a down payment to do...

If you have not owned a home in the past three years, you are a first time homebuyer. There are down payment assistance programs available from Federal, State, County, and City, but you have to be able to qualify.

[TampaKaren]

Originally Posted by boomer

Below is data that shows the current housing trends for Hillsborough county. It seems that prices have begun to stabilize over the last few months. Many believe the market will over correct itself due to all the foreclosures and short sales. Another things to consider is the rising material cost for concrete, steel, and roofing materials for new homes due to fuel cost. New home builders are able to offset these material cost with lumber prices dropping. Once lumber prices rises back to normal prices, new home builder will have to raise their prices which should help decrease the inventory numbers for existing home. Also, many new home builders are writing off their losses this year so they can start showing profits in the future years to come.

Date ----------Median Price------Inventory

2008-09-01.....$194,990............42,465
2008-08-25.....$195,000............42,140
2008-08-18.....$198,235............42,111
2008-08-11.....$190,500............40,789
2008-08-04.....$199,000............42,938
2008-07-28.....$199,500............43,167
2008-07-21.....$199,900............42,553
2008-07-14.....$199,900............42,249
2008-07-07.....$199,900 ...........42,048

Hillsborough County has never ever had this much inventory on the retail market. It's less than half that amount. Where is your source?

[Fishhead]

Originally Posted by boomer

Below is data that shows the current housing trends for Hillsborough county. It seems that prices have begun to stabilize over the last few months. Many believe the market will over correct itself due to all the foreclosures and short sales. Another things to consider is the rising material cost for concrete, steel, and roofing materials for new homes due to fuel cost. New home builders are able to offset these material cost with lumber prices dropping. Once lumber prices rises back to normal prices, new home builder will have to raise their prices which should help decrease the inventory numbers for existing home. Also, many new home builders are writing off their losses this year so they can start showing profits in the future years to come.

Date ----------Median Price------Inventory

2008-09-01.....$194,990............42,465
2008-08-25.....$195,000............42,140
2008-08-18.....$198,235............42,111
2008-08-11.....$190,500............40,789
2008-08-04.....$199,000............42,938
2008-07-28.....$199,500............43,167
2008-07-21.....$199,900............42,553
2008-07-14.....$199,900............42,249
2008-07-07.....$199,900 ...........42,048

HUH????

You just gave 2 months of data........TWO MONTHS.

Let's see the data for the past THREE YEARS.

I doubt seriously the market has hit bottom.

As we speak, the DOW is pushing to go under 11000, down 200 pts on the day..........the economy is in dire straits.

[scorp200]

Originally Posted by TampaKaren

If you have not owned a home in the past three years, you are a first time homebuyer. There are down payment assistance programs available from Federal, State, County, and City, but you have to be able to qualify.

I'll check into it! The more I look at area rents the more horrified I am. Of course, homeowner's insurance is a fortune...maybe in 6 mos or so I can get it together and buy.