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They say that it’s an ill wind that blows no one good. What they mean is that someone’s bad fortune is nearly always someone else’s good fortune. In the Florida real estate markets, that’s never been truer. When the national pundits and financial analysts say that the Florida real estate bubble has burst, they’re overlooking some important distinctions, and those distinctions have to do with the reasons that people buy real estate.   Those reasons are varied, but people generally buy real estate for one of two reasons: they plan to make money on it or they plan to live in it. Most people who buy to live in a home also hope that its value will go up, but they’re not looking for the type of fast turnover profits that speculative investors envision. Those… Read Full Post

Similar to the rest of Florida, the New Tampa real estate market continued its poor performance in May. Probably not a big surprise to anyone who's been tracking the housing market, which thanks to newspapers, magazines, television stations, radio stations, media wires, internet portals, internet forums, and the thousand of blogs, like this one, is just about everyone.

First the good news, hmm let's see? Well, it rained last weekend, which for those living here, was a welcomed weekend event.  Alright, the rain is not the only good news, May 2007 homes sales are a 15.6% improvement over April's figures of 64 homes sold.  Although one month does not constitute a trend, it's worth watching as we continue through the summer months.

Now the bad news, the…

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I've been falling behind on some of my monthly reports, but here are the figures for Arbor Greene in April 2007.  The numbers haven't changed much since my last report in March. There were 3 homes sold in Arbor Greene in April 2007, a 57% decline over April 2006. 

There are currently 74 active Arbor Greene listings, which is 4 more than my last report on March 29th.

Arbor Greene Home Sales for April 2007

  2006 2007 % Change No. Homes Sold 7 3 -57.1% Average Sales Price $389,341 $391,333 0.5% …

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US Home has opened its model center for its new upscale townhomes located in the community of Arbor Greene in New Tampa. They’re actually calling these Carriage Homes and these are ideal for the buyer looking for a high-end luxury townhome in the New Tampa area.    There are six floor plans, ranging in square footage from 2,385 to 2,549. All units have 3 floors and 2-car attached garages and most of the units have an optional elevator. Prices range from $274,900 to $305,900 and they inventory ready right now. As of Sunday April 22nd, 8 units have been sold and when construction is complete there will be 159 Carriage Homes in the community.    This is the last section of Arbor Greene to be developed and if you’re not familiar with Arbor Greene, it’s a… Read Full Post

The good news for the South Tampa real estate market is that March 2007 sales are ahead of February 2007 sales by 22%, which was not the trend for the same two months last year.  

 

Inventories are up only a slight amount over my last report on March 19th, see February 2007 Real Estate Report.

 

There are currently 963 South Tampa Homes, 696 South Tampa Condos, and 364 South Tampa Townhomes on the market.

 

South Tampa Residential Sales for March 2007

  2006 2007 % Change No. Homes Sold 236 131 -44.5% Average Sales Price $441,706 …

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I guess I spoke too soon last month when I stated Wesley Chapel seemed to be fairing well, because this month (March 2007) sales were down 23% , compared to March 2006.  The average home price was down 7% for the same period.

In the Wesley Chapel Community of Seven Oaks there were 13 homes sold in March 2007, compared to 11 in March 2006. The average home price in March 2007 was $381,515. 

In Meadow Pointe there were 34 homes sold in March 2007, down from 56 in 2006.  The average price for a home in Meadow Pointe in March 2007 was $237,502.

Inventory remains high with 1,109 Wesley Chapel listings, although this is only slightly ahead of my last post on March 13th when there were 1,100 active listings.

Wesley Chapel Residential Sales for March…

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Well, first the good news, the construction on Cross Creek Blvd. is almost complete and the long awaited traffic signal at the entrance to Arbor Greene is just waiting to be programmed and turned on.

  In terms of home sales in Arbor Greene, there were four homes sold in February 2007, compared to five in February 2006.  The average home price fell from $411,500 to $349,514 in February.   There are currently 70 active Arbor Greene listings, which is up from 62 on February 13th.

Arbor Greene Home Sales for February 2007

  2006 2007 % Change No. Homes Sold 5 4 -20.0% …

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Contructions Begins on I-75 / Bruce B. Downs Fly-over   After what seems like years in planning and waiting, construction has finally begun on the I-75 fly-over on-ramp, from Bruce B. Downs to I-75 South. If you’ve driven by the I-75 / Bruce B. Downs intersection lately, you can’t help but notice how much more open the area is now that they’ve started to clear the land for the project.    The project will cost $41 million and construction is expected to take two years to complete. There will be road closure on both Bruce B. Downs and I-75, so if at all possible you’ll want to avoid the area during these days.    Read the full story here.   Cross Creek Blvd. Update   For those that have been suffering through the construction on Cross Creek Blvd.… Read Full Post