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Jackie Colson-Miller

Jackie Colson-Miller, CIPS
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Tampa Real Estate
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Tampa, FL 33609
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Buy That House in Tampa Now!…Tampa Housing Market to Recover Faster than Others in Florida

Tampa has been named in the list of the most resilient Real EstatTampae Markets. Sellers in the Tampa Real Estate market may be better off than their in-state neighbors, according to a recent report in Forbes Magazine. While Florida, overall, experienced a 25% decline in median home prices, Tampa has survived with a mere 2% overall decline. It is hard to listen to the National news, day after day, and hear the gloom and doom about the housing market. Real Estate, is very much tied to the local economy, and every housing market across the country is experiencing a different situation. In cities such as Seattle, San Antonio and Charlotte, prices are already on the upswing. Tampa is predicted to be in the next round to rally.

The area is poised for a V-shaped recovery: where a market Davis_waterexperiences a sharp, fast decline, but comes out strong once it hits bottom. Moodys Economy is predicting Tampa to eliminate its excess housing inventory by the first quarter of 2008. A growing economy, and fewer speculative buyers, is expected to stabilize the housing market. At that point, prices are expected to increase by 10.6% the following year.

With mortgage rates still affordable and a property tax exemption of 75% of the first $200,000 of value for homestead properties, if you are buying a home in Tampa, you should start shopping for a home now, before the prices start to rise again!

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This entry was posted on Tuesday, July 3rd, 2007 at 2:21 am and is filed under Florida Real Estate, Tampa. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

4 Responses to “Buy That House in Tampa Now!…Tampa Housing Market to Recover Faster than Others in Florida”

  1. tampa florida real estate says:
    July 3, 2007 at 9:14 am

    Buy That House in Tampa Now!…Tampa Housing Market to Recover ……

    Great post. Thanks!…

  2. Jeff Long says:
    July 3, 2007 at 10:38 am

    excellent article, thanks for keeping us informed. Glad I am selling the Tampa market, although my second choice was Frostproof Florida.

  3. Chris says:
    August 4, 2007 at 10:39 am

    Jackie,
    You stated, “With mortgage rates still affordable and a property tax exemption of 75% of the first $200,000 of value for homestead properties, if you are buying a home in Tampa, you should start shopping for a home now, before the prices start to rise again!” I thought the homestead exemption was $25,000. Would you clarify this statement for me. Thanks.

  4. Jackie says:
    August 4, 2007 at 2:09 pm

    Chris:

    That is the proposed homestead exemption on the ballot for January. The current exemption is $25,000. I think we need a “better” overall tax reduction plan, but that is the proposal.

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