Calum's Blog: Tampa Real Estate

A new website, www.FloridaPerforms.com, has been designed as promised by Governor Charlie Crist to better inform Florida’s residents on current events and to make it easier to access government contacts and information. The Governor hopes that this website will serve as a gateway from the public’s needs and wants to our officials who can act upon them. 

Data is complied from multiple resources, and useful links help Floridians easily and quickly find what they are seeking. Florida Performs provides all pertinent information pertaining to the current state of affairs, and touches on each issue with an explanation and suggested resolution, if there is one.    Governor Crist is very concerned about the state being informed as a whole, thus increasing… Read Full Post

As you may have noticed, over the past few years there have been massive high-rise condo developments underway in the Channelside District of downtown Tampa Bay. Unfortunately for many of the investors, the sales of the multiple units have not exceeded expectations- by a long shot. 

Even more regrettable is Towers of Channelside LLC, a developer who built a pair of 29-story luxury condos, has recently filed for Chapter 11 bankruptcy due to slow sales, only 89 of the 257 available units have been sold, combined with the fact their lender, Wachovia, won't release anymore money.    According to U.S. Bankruptcy Court documents, the company’s debt is between $50 million and $100 million, with assets between $100 million and $500 million; they currently owe… Read Full Post

 

The University of Florida regularly conducts studies regarding the population statistics and patterns in Florida. Through the Bureau of Economic and Business Research (BEBR), UF researchers have come to an important conclusion- that the so called “declining” population of our state has been intensely embellished. According to Stan Smith, director of the BEBR, recent news and media representation of the falling population numbers in Florida simply aren’t true.   In fact, the counties of Orange, Miami-Dade, and our own Hillsborough, are still flourishing with new residents regularly. Leading the state in terms of growth rates are Flagler, Sumter, and Osceola counties. Because of the state’s strong economy (compared to many other states in our region),… Read Full Post

According to Forbes Magazine, Tampa is the number one market for home buyers.  Although there is an excess supply of home inventory, primarily due to investors, Tampa's strong economy and future job growth make it a great candidate for a healthy recovery.  Other Florida cities in the article included Sarasota, Palm Bay, Tallahassee, Pensacola, and Miami.  You can read the full article here.

This backs up what I mentioned in my recent post, The Doom Sayers vs. The Silver Lining, which is essentially that Tampa is more than the sum of it's real estate market. Although Tampa is currently in a buyers' market, Tampa's economy, jobs, and population trends all remain positive indicators for future growth.

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They say that it’s an ill wind that blows no one good. What they mean is that someone’s bad fortune is nearly always someone else’s good fortune. In the Florida real estate markets, that’s never been truer. When the national pundits and financial analysts say that the Florida real estate bubble has burst, they’re overlooking some important distinctions, and those distinctions have to do with the reasons that people buy real estate.   Those reasons are varied, but people generally buy real estate for one of two reasons: they plan to make money on it or they plan to live in it. Most people who buy to live in a home also hope that its value will go up, but they’re not looking for the type of fast turnover profits that speculative investors envision. Those… Read Full Post

 Well 2006 is now behind us and below is recap of how many of the markets finished in the Tampa Bay area. Overall you can see that although sales finished down, prices actually finished up. What the stats below don’t tell you is that inventories remain high in Tampa with over 21,000 active MLS listing across Hillsborough and Pasco Counties. I think we will see downward pressure on prices through the first half of 2007.

The following Tampa Bay MLS stats were taken from the Greater Tampa Association of Realtors MLS. If you'd like to search the Tampa MLS on your own go to, Tampa Bay MLS.  If you’d like a more detailed look at your community please don’t hesitate to contact us.
Brandon Home Sales for 2006   … Read Full Post