This morning the S&P/Case-Shiller Home Price Index has been released. For Homes in Tampa we saw a (-.4%) decrease from October 09/November 09. This was a smaller decrease than the September 09/October 09 decrease of (-1.6%). In a year over year perspective in the Tampa Real Estate Market we saw a (-13.2%) decline.
At this point in the real estate cycle we are not surprised that prices are tending to firm. We clearly are seeing many cases of multi offers on well priced properties and this is keeping prices firm.
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 it being accepted for newly listed homes is unlikely, because 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 property prices the property to sell. For those sellers waiting on the sidelines or do not have to seller, we recommend waiting it out.