Tampa Real Estate is a Market on the Rise

Contrary to popular belief, the Tampa real estate market has showed no signs of diminishing.  True, the economy has not been at the highest level during the past nine months, but this has not deterred the Tampa real estate market.  Actually, it has presented opportunities for out-of-state investors, as well as overseas investors whom are finding the Tampa market a viable opportunity to purchase either a primary home in an area that offers a steady climate and urban expansion, with a job market that is rising, rather than falling.  Tampa’s unemployment rate for April of 2008 was 4.9%, while the national standard was 5.5%.  The Tampa real estate market is continuously building new homes and expanding neighborhoods.  According to Forbes Magazine (online issue), Tampa Bay ranks number one as the best place in the nation to buy a home.

Dr. Lawrence Yun, NAR Chief Economist, delivered a speech to over two hundred Tampa real estate agents at the Greater Tampa Association of Realtors (GTAR), informing them of the positive situation of the Tampa market.  He pointed out that the Tampa market is much different than the national figures and statistics.  He stressed the importance of home buyers, as well as home sellers to contact a qualified agent to offer the most accurate, as well as detailed information relating to neighborhoods, listings, and time frames.  Dr. Yun further stated that a twenty percent appreciation in the next five years in the Tampa market would be a conservative estimate.  Interestingly, the fact that Tampa’s location (being surrounded by water), is part of the drawing power.

The next five years may see Tampa Bay as a premier city, not only to live, but also to visit and to invest.  It has been compared to San Francisco, with its parallels of the bay.  As the future unfolds, it is obvious that this area has the appeal that people are seeking.  With so many attractions, it is plain to see why people want to establish residency in this flourishing city by the bay.  With three thriving major sports teams, Tampa bay can offer the spectator an abundance of entertainment.  Dozens of world class golf courses (Tampa Palms, Hunter’s Green, and Westchase to name a few) offer a challenge to even the most refined golfer.  Most important are the beaches (Clearwater Beach, Indian Shores, Madeira Beach, and Apollo Beach) that offer a getaway just minutes away from anywhere in the Tampa area.

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