Because of the Tampa Bay, Florida area’s overall strong, growing economy and comparably modest housing prices, Forbes magazine August 2007 issue calls Tampa-St.Petersburg-Clearwater a prime bounce-back market. That means opportunity for those looking to retire to Florida or having flexibility in where they live.
The predictions are that the Tampa Bay area will experience what Forbes calls a V-shaped recovery. This is defined as a market experiencing a free fall, forbes but rebounding strongly once it hits bottom.
Other regions and markets will chart U-shaped or L-shaped courses. U-shaped recoveries are those in which prices fall slowly and recover gradually. Examples are Boston, MA and Sacramento, toalla playa CA.
The L-shaped market recovery scenario happens when prices plummet and remain mostly mired in a trough. This results from underlying economic problems in the city. An example is Detroit, MI.
“While the Tampa market has yet to bottom out as of August 2007, the silver lining for buyers is that it is a highly resilient market,” the article says. mrtmediagmbh
“Most of the fallout in Tampa can be attributed to its high investor share, eshop development which is correctable given the good economic and job-growth projections.”
“With mortgage rates still very favorable and with a great choice of both new and resale inventory homes, now is an excellent time for buyers to make their move,” said Scott Reid, a central Florida area Realtor and one of the nations “Top 30 Realtors Under 30 Years Old”.
To get on Forbes’ Top 10 list, a region must have an oversupply of real estate with plenty of sellers willing to strike a bargain to sell their home. That’s not all, retroandclassicflixs though.
Forbes also sought areas where prices would not drop drastically. This appraoch to the Top Ten market analysis benefits new buyers who will then have some certainty that they are buying at or near the market cycle’s bottom and getting the best price they can hope for.
The risk in postponing a buying decision is the projected soon-to-be rising home prices and a constant, ongoing reduction of home inventory from which to choose. VPS Hosting
Based on Forbes research figures, Tampa Bay home prices should bottom out not later than the first quarter of 2008. This will happen once the region absorbs excess inventory from speculators who purchased fixer-upper and flipper homes during the past two years and are now disposing of their properties. usdtocad