Monday, May 19, 2008
His main focus was to let Realtors know to inform clients that our Tampa Real Estate Market is NOT the same as the National Market. National figures and statistics are much different. He emphasized the importance of buyers and sellers to contact an agent who can provide detailed information for specific neighborhoods, and to compare sold, list pricing and days on market on each community.
SEMINOLE HEIGHTS- Historical Neighborhood Real Estate Market Update- Tampa, Fl 
View this lot for sale in Seminole Heights
Are you relocating and looking for something unique and historical? Most people who live here in Tampa know about this quaint area we call Seminole Heights. Seminole Heights makes sense for first time home buyers looking for opportunities and affordable prices. It seems that all you hear about it on the news is negative. I thought I'd shed some light on the brighter side of our "Heights Market" by going back in time to get a better perspective on the future.
Remember three years ago when real estate was really hot? You were looking for a home between 200K to 250K, and there just wasn't enough to choose from. You may recall that when you found a suitable home, 2 or 3 other people were looking to make an offer on the same place. And people were buying homes left and right. Back then, sellers were all too happy to make a big profit. There were bidding wars and buyers willing to pay the price.
So now we're on the downside of that frenzy of activity. Insurance and tax issues have caused the whole state of Florida to fall into a real estate rut, but there's still a lot we can learn from the boom of just a few years ago. There were signs then that Seminole Heights was up and coming: Whispers of a Starbucks being built, and a Cappy's Pizza - who would have thought?
Today, the Seminole Heights Market is priming for another growth spurt. The Starbucks Coffee Shop and Cappy's Pizza are thriving, and there's much more to look forward to, like the proposed Sangria's Restaurant coming. Now this is really turning into something big. All this and live only 10 minutes from Downtown Tampa.
Alan Dobbs, owner of Florida Design Studio Corp has moved his offices to the Heights, where he's basing most of his projects. Alan's company focuses on traditional bungalow architectural design, and business couldn't be better. "I think it's because I do work for home owners and not speculative developers or track home builders," says Alan. Alan also noted, "even though there has been a downturn in the real estate market, it does not seem to of had an affect on people wanting to improve or add-on to their homes. If anything, I think the projects have become bigger and more substantial because people, including me, realize we can't afford to move, but we can afford to add-on of improve what we have."
Other buyers are opting to build new in our area, while maintaining the historical look of the neighborhood. If you're thinking of taking this route, you may want to jump on the opportunity when you see a lot for sale. It seems that parcels of land are becoming scarce in the Seminole Heights Historic District as more people are looking to build from the ground up.
As a Realtor part of my job is to pay close attention to the Real Estate Market in our area so I can inform buyers and sellers what to expect, and what not to expect. My business partner Michelle Jordan & I work with buyers and sellers in the entire Tampa Bay Area, and we have noticed an increased interest in the Heights over the last few months. Prospective homeowners are excited by all the choices they have now that simply weren't affordable 3 years ago. If you haven't yet looked at homes for sale in seminole heights, now is the time to start.
If you're going to make Tampa Bay home, then Seminole Heights is still one of the first places you should look. Beautiful and affordable with a tightly-knit community, the Heights is still a boon for small businesses and a great place to call home.
This is a picture of a new construction home that was designed by Alan Dobbs. The home is in the Historic District across from Hillsborough High School ....
See also:
Seminole Heights Historic District.
Bungalows, live in Seminole Heights, Seminole Heights history, Seminole Heights Homes for Sale, Traditional
Rae Catanese. P.A.
Licensed Realtor
Prudential Tropical Realty
813-784-7744
realtyrae@yahoo.com
Rae started THE INSIDER REAL ESTATE BLOG-TAMPA,FL in July 2006 her site focuses primarily on the Heights and Downtown Tampa Areas.
Bio for Michelle Jordan and Rae Catanese Shatto
Alan C. Dobbs Florida Design Studio Corp.5310 N. Central Ave., Suite D
Tampa, FL 33603
(813) 232-6242 office(813) 732-4268 cell
adobbs@verizon.net
Thinking about buying or selling real estate in the Tampa Bay Area? Have a Real Estate question? Feel free to email or call us 813-784-7744
Rae Catanese and Michelle Jordan
Realtors.
Search MLS
Prudential Tropical Realty
When is a good time to invest in Real Estate?
By: Rae Catanese, Realtor
I was speaking with a friend of mine about the Real Estate Market in the Tampa Bay Area. The conversation started by her saying "I want to buy a house this year." Since she is a friend, I wanted to give her the best advice in my opinion as a Real Estate Agent.
Through our website, we are able to track what people are searching for when they go online. Over the past couple months we've seen an increase in people wanting to know when the Real Estate Market is going to change, and the big question "when is the right time to buy"?
Right now sellers do not have their homes on the market unless they are in a situation where they really need to sell. At first, about a year and a half ago when our market started declining if sellers couldn't sell then they just decided to rent. Because of all the condo conversions in our area there were plenty of renters to go around. Now finding a renter who can cover the mortgage has become a struggle as well due to a surplus of rentals.
Most of the media and talk on the street says that the market won't rebound until late 2008 and maybe even 2009 in some areas.
These are the reasons I feel now is the BEST time to purchase.
1. If you can find someone who purchased 4-5 years ago minimum, chances are they have some equity in there home and can be more flexible with their price. They may have it on the market for 250,00 for instance but if they are in a situation that cannot be changed; such as divorce, relocation for a job, they need the money etc. they are going to be more likely to take a much lower price.
2. If the home is vacant that's even better! Now there's no income AND they want to sell. Sellers are very motivated NOW because they are hearing the same news as everyone else, and they know it may take another year to sell if they keep their price the same and aren't the lowest price in their neighborhood.
3. If you wait until people start hearing the market is rebounding then sellers will think they can hold out to get a better deal, stop dropping their prices and become less motivated. Or even worse, people who really don't have to sell as urgently will start putting their homes on the market creating even more inventory which is something our market does not need.
These are the trends that we, as Real Estate Agents in the Tampa Bay Market are seeing. What buyers may not realize is that sellers who have had their home on the market for a year, don't want to wait or cannot afford to wait another year until things pick up.
As Realtors we have access to how long a property has been on the market, the amount of price reductions they have had since they listed the property and if the home is vacant. This knowledge is critical in getting a good deal and taking advantage of the buyer's market that we are in.
Buyers who wait much longer are going to find that everyone who also has been waiting will now become their competition. Interest rates are the lowest they have been right now. When things start rebounding they could go back up again which is also something to keep in mind.
If you are looking to purchase a home and have been on the fence, I would encourage people to take a look now and see what type of deals sellers are willing to make.
Please feel free to contact us with any questions.
Rae Catanese, Realtor
SEARCH MLS
Prudential Tropical Realty
813-784-7744
Focusing on Relocation to the Tampa Bay Area. I've lived in the area for 37 years. Not only can I find you the right home, I can also show you the best restaurants, parks, beaches!
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