Broker Associate Cristan Fadal is interviewed by WTSP Channel 10 reporter Eric Glasser regarding the potential impact of rising Federal Flood Insurance Premiums. Flood Insurance Premiums Rise
Great news for Hillsborough County and the Tampa Bay MSA. Hillsborough County ranks first in new home construction in the entire State of Florida with gross performance of $618,217,877. Tampa new home construction continues to grow and add to our housing and economic recovery. The Carter Construction Report gives specific details on construction activity across the Country and specifically Florida.
We would like to wish each of you a safe and relaxing Memorial Day weekend. As we enjoy time with our family and friends lets also take a moment to remember those that have served our country to the fullest throughout the years. Click for a quick summary on the history of Memorial Day
This morning the S&P/Case-Shiller Home Price Index has been released. The % decline in the 20 city compsite continued to -17.1%, however this was less of a decline than the prior month of -18.1%. The consensus forecast was anticipated at -17.90%. Todays data reflects a 4th consecutive month of improving decline. As for the Tampa home market the price decline was flat, with no change from April to May. This was better than the (-7%) decline in March to April. The year-over-year change for homes in Tampa price declines came in at -20.8%.
For those of you waiting to sell your existing property or have your property still on the market hoping for Prices to rebound quickly, you have a long way to go. These current numbers while not indicative of all area in the country or Tampa for that matter, does give a solid view of where home prices really are (down). We suggest if you have to sell, then price it right and if you are already in the market with no sale, it is probably due to price. In this market, at this point in time the adage needs to be “Reduce It to Move It”.
For those buyers still on the fence waiting for prices to decrease further, it is not likely. If anything you are not only missing the boat from a low price standpoint, but interest rates don’t look seem to be moving much lower either.
homes, prices, real estate, tampa