Tampa Homes are Selling Quickly...Now

It was an interesting 4th of July for me yesterday.  I went to a cookout at a friends house...just so happens to be a home inspector, and his brother in law came over as well.  The conversation was light most of the day and then he asked me that loaded question thinking he already knew the answer, "How is the Real Estate Market"?  And my reply was "very busy".  I watched his jaw drop in disbelief...under normal circumstances he would not have believed me, but I turned to his brother in law...who I said was a home inspector, and he replied, "He is right, they have been selling alot of homes, I have been doing the inspections on them so I know".

Most people listen to the hype on the TV and radio and newspaper, but the Real Estate Market is a Local business.  Just because the market in Oklahoma for example is bad, that does not make the Tampa Real Estate Market bad.  Prices are where they should be now, they banks are tired of loosing money hand over fist and they don't want any more property back, so thy are either trying to work it out with the owners or are becoming reasonable in their pricing and speed of processing the paperwork/offers.

We work diligently with all of of clients.  Our Clients are typically more educated with what they want, what the values are, and they typically have all of their financing in place even before they start looking.  As Warren Buffet recently said, "If you have money, now is the time to buy Real Estate".  I agree with him.  Not because I am a Realtor, but because I follow the trends daily and can tell you that those million + homes can now be bought for $600,000 or less with the right agent negotiating for you.

The morale to my story is, don't always listen to what the news is telling you.  They are just trying to sell ratings, or newspapers, or whatever.  Don't take their word for it.  Do a little research and find out for yourself what is really happening in the market that you are interested in.  If you are interested in Tampa Homes, then look closely at what is going on there.  A year ago we were at 24 months inventory, a few months ago we were at 15 months ago, and now we are at 10 months.  You do the math...people know a great deal and are jumping on it.  We have been seeing more offers being made site unseen and with cash.

Never try to time the market though, because no one can predict what will really happen.  All they can do is make educated guesses based on trends.  But with anything, what goes down must come up, and that is what is happening right now.  So if you are in the market, take a closer look and don't think that prices will decline...they may, or may not, but as inventory decreases, prices increase, that is just the way things are!

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