Today the S&P/Case-Shiller Home Price Index has been released. For Homes in Tampa we saw a (-.6%) decrease from November 09/December 09. This was a slightly large decrease than the October 09/November 09 decrease of (-.4%), however prices are basically flat. In a year over year perspective in the Tampa Real Estate Market we saw a (-11%) decline.
At this point in the real estate cycle we are not surprised that prices are tending to stay flat or firm. As we stated last month, we clearly are seeing many cases of multi offers on well priced properties and this is keeping prices firm.
It is worth repeating again that if you are buying homes in Tampa, and the offer price of the home is priced well, you need to be aggressive going after that property. While you can certainly put in offers well under list price, the odds of the offer being accepted for newly listed homes is unlikely, there is probably another buyer either infront or right behind you willing to pay more
If you are selling homes in Tampa you need to price right to attract attention. We continue to see many homes that receive multi-offers if the agent properly prices the property to sell. For those sellers waiting on the sidelines or do not have to sell, we recommend waiting it out.