Are you like so many other Americans wondering about the real estate market and thinking, “Is It Smart To Buy A Home Right Now?“. Well, we put together this reference guide for you to make an informed decision when thinking about moving here to beautiful and sunny Tampa, Florida! Did we mention Tom Brady lives here?
We are going to break it down for you in the following sections:
So let’s dive in and talk about Tampa and what the market is like. Then we can start to see clearer if it’s smart to buy a home right now.
Tampa Florida – The beaches are still warm, reaching daily temps into the high 70’s and perfect evenings to cool everything off. Needlessly to say, it’s beautiful. Which is why the market here is boiling. Northerners want to get out of the blistering cold and join us, tourists wanna be us and us locals know that love where you live is more than just a sticker you put on your car!
It’s A Sellers Market
We all hearing the reports about it being a sellers market. As so many migrate south to our sunny, pristine beaches, it means there are those focusing on the Tampa Bay area to PURCHASE a home.
Locals that are looking to move, investment properties that have sat dormant or the accrual of property are all situations in which individuals are reaping the benefits of having so many home buyers looking to purchase their property.
Competition To Buy A Home
There are many hungry and eager households with a lot of money that want to get out of the cold and make a lifestyle change. Not only that demographic, but Tampa is absolutely booming with Real Estate investment opportunities. Foreign land investors are grabbing as much as they can, as fast as they can to get their piece of Tampa’s pie.
It’s Also A Condo Market
We have noticed that there are a lot of lifestyle change trends in the more affluent homeowners. However, it really doesn’t matter how much money you have when you find your piece of heaven under the sun here and take in a sunset. So, looking at our majestic sunsets from a hammock on the Dunedin Causeway with our friends at Florida Ski Riders or from your back porch are equally as impactful.
With that in mind, many choose to buy a more manageable condominium to satisfy their Florida fix. Also, a wise investment opportunity, condo owners will rent their condos out for the remainder of the year which almost pays for the property itself!
The Annual Summer Slowdown
Summer is the HOT SEASON in both temperatures + humidity & the real estate market. We are still hot, but it’s no PIPING hot anymore. We always see this shift this time of year, when holidays and family become important and home buying dreams get put on hold.
Investors Are Buying
In anything really, when it’s booming…people are investing. Just take a look at cryptocurrency! Tampa has shown significant growth throughout 2021 in the Real Estate market due to it’s rapid influx in population and available jobs. This is good news for investors of real estate.
75% Cash Buyers
This is a statistic that you won’t hear anywhere else. Of our recent sales in the past few months, we concluded that right around 75% of ALL OF OUR SALES have been a CASH buyer. The market is flush with so many buyers that are paying in cash. There are pitfalls in operating this way so be sure to contact us and we will help guide you through the process in buying or selling a property.
Well, It’s Paradise!
Noone can deny our beaches. Two winners of MSN.com’s Top 10 Award for the Best Beaches in America are right here in our backyard. #9 Madeira Beach and taking the #1 spot is St. Pete Beach! Long white sandy beaches, we understand this answer to “Is It Smart To Buy A Home Right Now?”. Of course it is, it’s beautiful! Okay, what else does Tampa have?
Recent spikes in both population and jobs in the Tampa Bay area have stimulated just about every industry in the area. Massive availability of jobs in Tampa are still on the rise and will continue to be well into 2022.
Winning feels good. When 3 of your city’s professional sports teams win, the city wins as well. Whether you are a “Go Sports!” fan or think you’re calling the plays for the Tampa Bay Bucs, people want to be around winning. We see it in our communities, in our friends, in our schools. Tampa has a certain feel to it…and IT FEELS GOOD!
Here are a few of our recent and not so recent residential home sales here in the Tampa Bay area. If you would like a more comprehensive look at what we are and have done, we created a quick 5 minute read in our End of 2021 Property Update release. You will see all of our recent sales, our current properties and opportunities and just some more real estate information and entertainment for the whole family.
With so many people buying up the inventory in the area, there’s just a shortage in property to sell! However, we view this as an opportunity. Simply put, we are the Experts in Selling Florida Real Estate. Those that are selling, we walk you through everything as a trusted friend. This is what we do…we sell property. But we also know how to BUY PROPERTY. That same experience in our brokerage is what helps you find the home you want, for the price you want AND own it.
Multiple Offers On Listings
Not only are we flooded with visitors, but we are expanding as a city. With so many people migrating here, it makes things very competitive when a prospective home buyer even puts an offer into a home. We have noticed that there are multiple offers on homes that are listed for sale towards the end of this year. We have even experienced it ourselves when working on behalf of a client looking to make the move to this area.
Real Estate Interest Rates Are At 2.9%
These are the LOWEST interest rates we have seen in years! With rates that low, it’s almost like finding your dream property for free. We like to give our clients that kind of satisfaction when buying and selling their property.
No State Income Tax
It makes it quite the selling point without any state income tax.
So when thinking about if Is It Smart To Buy A Home Right Now, we hope this article gives you a better idea to decide for yourself. We broke it down for you in a few ways:
We even showed you some of our recent sales. You can check out all of our properties that we handled over the course of 2021. From million dollar condos to rentals, we have handled it all! But after all is said and done, we absolutely LOVE living here. But to answer if its smart to buy right now?
We believe every property has it’s own features and drawbacks. The market is geared towards a seller, having more buyers than available property. This drives the selling price up. However, the risk vs reward to being in this area is suggesting that its VERY SMART to buy now. We are still booming and growing. The POTENTIAL OF TAMPA HAS NOT BEEN REALIZED YET and just how much we will grow is unknown to all.
We really have just one thing to really say… Tampa is projected to be one of the top housing markets in 2022. Get in when you can, where you can. The opportunities in real estate in the Tampa Bay area are endless. But remember, every opportunity comes with its own set of circumstances. We help navigate you through the hardships and pitfalls to set you up for the best rewards you can imagine.
Plus, Tom Brady lives here.
Contact Us if you would like to speak with one of our agents. We’re here to help.