Casas De Venta En Tampa – Real estate prices are expected to stabilize somewhat. But it’s not down to pre-pandemic levels.
Home for sale on 26th Ave N in St. Petersburg. Experts predict Tampa Bay home prices will begin to fall slightly [Martha Asensio-Rhyne | times]
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TAMPA- Prospective home buyers in Tampa Bay will have to endure a fierce bidding war. Create an all cash offer. In recent years they have even waived inspection rights for the chance to own a home.
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This is as real estate markets across the country are showing signs of cooling. Bay Area buyers may get relief, but experts caution that prices won’t return to where they were before the pandemic.
“We’re definitely seeing a slowdown (nationally), but it’s not as pronounced in Florida,” said Christine Small, senior vice president at real estate analytics firm Zonda.
One reason for this is the influx of buyers from high-cost states.
While a $700,000 home may seem expensive to a Bay Area resident, “(California) sold his house to someone for $2.5 million and came here to (California) with a paycheck . . . It seemed like a bargain to us,” said Renee, a real estate agent who works with RE/MAX in St. Louis. said Shelly.Beat.
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Lack of housing creates challenges for buyers. Although that is starting to change.
According to data from Florida Realtors, Tampa, St. Peat and Clearwater have continued to decline since spring 2019, hitting a four-year low in February of this year. Only 2,000 items are unlocked.
Historically low interest rates caused by the pandemic have led to increased demand from bargain-hunting homebuyers, Small explained. This has caused inventory to shrink, and sellers have taken advantage of this opportunity to raise prices
According to the S&P CoreLogic Case-Shiller Index, which found prices to rise 34.8% in 2022, Tampa Bay saw the largest price increase in the country.
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According to the latest data from the Mortgage Bankers Association, with average mortgage rates now close to 6%, many buyers are deciding to scale back their home search.
“Low interest rates are the only thing that’s affordable for some people,” says Christopher Loy, a real estate agent with People’s Choice Realty Services in Tampa. “Now you have the money and the financial resources.” Or, unfortunately, you don’t have any.”
Nationally, mortgage applications fell this week for the third week in a row. It reached its lowest level since 2000, according to the Mortgage Bankers Association.
Trista Page, a borrower with Amerifirst Home Mortgage, said she’s seeing this trend in Tampa Bay.
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“People are finding homes that they could have bought six months ago or four months ago. They can’t afford it,” he said. “They should downsize or look elsewhere. Or rent for a year and hope the price goes down.”
Once demand eased a bit, Lai said, he started releasing homes to buyers who could live in them.
Tampa, St. Peet and Clearwater in June. This is 77.7% higher than the same period last year and 47.9% higher compared to May.
“Those six offers they asked for on their first day are no longer available,” says Celli. So when a buyer finds a home they like, it’s just out of their price range. “Offer at a low price. You might be surprised.”
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Average sales price in Tampa, St. June. Peat and Clearwater are up 25.9% from last year, according to data from Florida Realtors.
Smale said there will be price changes in the coming months. But the influx of out-of-state buyers doesn’t drive down prices in Florida as much as in other states.
The Tampa Bay Times e-Newspaper is a digital copy of the newspaper that is printed seven days a week and can be read on your desktop. Mobile devices and our app are for members only. Please subscribe to enjoy e-newspaper every day. Look no further! In this guide, we’ll reveal our secrets to finding the best new homes for sale in this amazing Florida city. Whether you’re looking for a place near the beach in a quiet neighborhood or close to great restaurants and shops, we have everything you need to know to find the perfect home for you. We’ve also compiled our top tips to make your search easier and more efficient. Let’s get started!
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