Why Tampa Real Estate Remains a Solid Investment
If you have been sitting on the side-lines waiting for Tampa real estate to hit rock bottom now might be a better time to buy than you think. Learn why Tampa real estate remains a solid long-term investment with these fast facts:
1. Baby Boomers. Demographics matter and the biggest cohort is comprised of Baby Boomers that love sun and fun. Unlike older generations of yesteryear, Baby boomers are one of the most economically advantaged groups in the nation and consistently list Florida among the top retirement destinations.
2. Top Three. According to research conducted by the U.S. Census, Florida, California and Texas will account for 46 percent of total U.S. population growth by the year 2030.
3. Continued Growth. Florida is adding over 1,000 people each and every day, month after month, year after year and is expected to continue to do so…for the next 25 years!
4. Inflation. The stock market is down 20 percent (not adjusted for inflation), fuel is at historic levels and the dollar is plunging against other currencies; by comparison Tampa homes for sale have experienced similar downturns making them more affordable than they have been in years however, inflation is expected to increase the cost of raw materials which will eventually drive up the price of homes.
5. Interest Rates. Interest rates remain at historic lows creating a buying opportunity for those seeking to save a bundle by purchasing Tampa foreclosures or new homes for sale throughout the greater Tampa area.
6. Long Term Price Increases. Long term demand coupled with declining housing starts will create long term upward pressure on prices. Additionally, the falling dollar and rising rate of inflation are simultaneously creating upward pressure on everything from the cost of raw materials to transportation; although the current movement of Tampa real estate has been a reduction in selling price, most experts expect prices to stabilize and then move upward as inflationary pressures make homes more expensive and the inventory of existing homes shrink.
7. Tightening Lending Standards. The sub-prime mortgage situation has resulted in banks beginning to tighten lending standards and the Federal Reserve is already talking about raising interest rates to tackle the problem of inflation. Saving money on a home is only half of the equation; all the money you save on the purchase price of the house could be more than offset by increased interest rates, larger deposits and increased closing costs.
I would sincerely like to help you with all your real estate needs. My extensive knowledge of real estate investing, 1031 exchanges, quality of home construction can save you thousands of dollars when buying a home and dozens of hours looking for the wrong home. Please do not hesitate to give me a call 813-317-4009. – Lance Mohr