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Well 2006 is now behind us and below is recap of how many of the markets finished in the Tampa Bay area. Overall you can see that although sales finished down, prices actually finished up. What the stats below don’t tell you is that inventories remain high in Tampa with over 21,000 active MLS listing across Hillsborough and Pasco Counties. I think we will see downward pressure on prices through the first half of 2007. The following Tampa Bay MLS stats were taken from the Greater Tampa Assoc... Read Full Post

Consumer confidence in Florida’s economy fell by 4 points in December. The drop in confidence comes after three months of positive gains. Higher gas prices and a slow housing market are the primary contributors to the decline. According to the article, Florida’s housing market is expected to continue to slow at least through the first half of 2007, which will continue to put downward pressure on consumer confidence. Read the full article here. On a positive note, as long Tampa continues t... Read Full Post

Sales in South Tampa real estate market were down 44.6% in November compared to the same period in 2005. The average home price was actually up 13.2% compared to November 2005 thanks to single family homes. South Tampa condominium prices were down 5.4% and sales were down 54.4%, while townhome prices were flat and sales were down 50%. Inventories remain high with 1,733 active residential listings. South Tampa Residential Sales for November 2006 2005 2006 % Change No. Homes Sold 231 128 -44.6%... Read Full Post

If you look strictly at the numbers below it would appear that Wesley Chapel seems to be fairing a little better than the overall Tampa real estate market, See Tampa Real Estate November 2006. Although overall homes sales are down 15.9%, prices are actually up almost 4% when compared to the same period last year. Unfortunately, here’s what the numbers don’t tell you, prices in Wesley Chapel are being buoyed by newer communities like Seven Oaks. As you can see from the numbers below, Seven... Read Full Post

Pharmaceutical company Merk & Co. and H. Lee Moffitt Cancer Center and Research Institute announced Monday they will create a joint company which will develop drugs for treating cancer. This is great news for the Tampa Bay area as the new company is expected to create 170 high paying jobs, with an average salary of $80,000, and add $1 billion into Tampa’s economy over the next few years. County officials are hoping the new company, called M2Gen Inc., will spark even greater economic dev... Read Full Post

There were 6 home sales in Arbor Greene in November, compared to 4 in November of 2005. There are currently 71 active listings in Arbor Greene ranging in price from $249,000 to $759,900, with a median price of $440,000. November 2006 No. of Homes Sold = 6 Average Sales Price = $448,316 Median Sale Price = $439,000 Average Days on Market = 79 November 2005 No. of Homes Sold = 4 Average Sales Price = $466,158 Median Sale Price = $500,000 Average Days on Market = 27 Read Full Post

Beginning in 2007 households earning less than $100,000 annually will be able to take a full deduction on their private mortgage insurance (PMI). PMI is typically required when a homeowner puts less than a 20% deposit down on their home. This is obviously good news, especially for first time home buyers who often have a difficult time coming up with an initial deposit. In the Tampa real estate market where prices have risen dramatically in recent years, it’s difficult for many first time ho... Read Full Post

Our new Tampa school search is now up and running. You can now search via map for the top area schools in Tampa Bay, check it out Tampa School Map Search. I believe this is the first site that let’s you search for local schools via map, based on their Florida Grade. Our goal is to eventually incorporate private schools along with universities. Let us know what you think or what else you’d like to see incorporated. For those you not familiar with the Florida School Grading System, each yea... Read Full Post

Although the volume of sales are down in New Tampa, single family homes sales are down 33% year-to-date, prices continue to hold steady. The average single family home price in New Tampa, zip code 33647, in November 2006 was $399,464 which is actually a 2.25% increase over November 2005. November 2006 No. of homes sold = 65 Average home price = $399,464 Median home price = $350,000 Average days on market = 69 November 2005 No. of homes sold = 94 Average home price = $390,686 Median home price... Read Full Post