Tight Home Inventory Levels Affecting Buyers & Sellers

While more and more positive real estate news trickles in, we examine some of the direct causes of these seemingly endless, yet favorable outcomes.

Housing inventory has waned over the last year. So much so, that we have seen the amount of homes available on the national level drop by about 1.8 million units.  At a more local level, Tampa, Florida has seen a dramatic decrease of 68% in home inventory! 

So we ask, why so low? 

Well, about 22% of homeowners remain underwater with their mortgages. Sellers are usually deterred from listing their home if they have to bring cash to the table or embark on a short sale. Now that home values are finally bouncing back, both home values and the amount of sellers who owe more than their property is worth are two factors that will continue to have an impact on home inventory.

Investors are always trying to grab the best deals that produce the highest returns. This usually involves paying cash for real estate purchases. The rental market has seen an uptick in activity; so many investors are holding their real estate inventory while turning higher profit with rentals. Being that Tampa, Florida is a hot spot for international investors; we live this wave of activity daily. 

So while some sellers continue to wait until their homes value is closer to what is owed on mortgages; and a large volume of investors snatch up bank owned properties and short sales, we may continue to see housing inventory fall both in Tampa, Florida and on a national level.

One thing is for sure, the longer sellers wait, the more chance they have of mortgage rates ticking back up, which will restrict some buyers from entering the market.

Qualified buyers may choose to rent, but can warned that they may be missing the most opportune time to own a home ever!

About us:

SI Real Estate offers highly personalized, multilingual, full-spectrum real estate purchaseand sales services. We are a boutique for sophisticated investors, select owners or renters who may be upgrading locally, or those making traditional relocations. We also provide turnkey landlord and tenant management. Blending comprehensive insight into the Tampa Bay area with international perspectives for a worldwide clientele, we like to think that “SI Real Estate is Global Real Estate in Every Way!” 

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2012 Wrap Up and Thank You

We would like to wrap up the year by saying thank you to all of our friends, families, clients, followers and supporters. We would truly be nothing without you. SI Real Estate is honored to represent you through your real estate transactions in the past, present and future. 2012 has treated the real estate industry quite nicely and we hope that next year sees similar, if not more improvements to the market in which we are all involved in.

We hope that you all stay safe through this holiday season. Whether you are visiting family and friends, remember the roads and airways will be busier than usual, so please exercise caution. Please keep all the less fortunate people in your thoughts and remember to be grateful of what you have and where you live. We have seen tragedies such as natural disasters to the East coast, innocent children’s lives taken and political / financial turmoil in foreign countries. 2012 also offered bright spots like amazing performances from the US Olympic teams, many of our troops return home from combat and continued growth in the real estate market. We hope that we can all learn something from the events that rang around the world and take something positive from it all.

Have a great New Year and a prosperous 2013!

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2012: A Promising Economic and Job Outlook

With the New Year in full swing, many Floridians are curious to see where the economy will head this year. According to recent national data, unemployment had finally dipped to 8.5%, while nonfarm payroll employment rose in December 2011. The labor department also recorded significant increases in transportation, retail trade, and health care jobs to name a few. Construction employment also saw an increase, which will help offset the two previous months, and give us a positive outlook on new real estate. Generally speaking, fewer Americans are jobless which strengthens the economy as a whole.
Florida closed out 2011 in good fashion as far as the unemployment rate goes. The last two months reported the second sharpest decline (2.1%) of unemployment in the country, only falling behind New Mexico. Tampa, Miami, and Jacksonville will to have to carry the state through 2012 if we are going to see the unemployment rate drop, and stay, below 8%.
Tourism and travel could also lend a helping hand in rebounding Florida’s economy. With talks of moving the Tampa Bay Rays to Hillsborough County, and building a new casino resort in Cape Coral, we can only hope that this will stimulate jobs, spending, and the desire for real estate here on the gulf coast. As far as travel is concerned, Joe Lopano, CEO of Tampa International Airport, predicts an increase of 13.6% in international traffic. With more money being designated for marketing campaigns that reach out to South American countries like Brazil, and places in the Caribbean, high expectations are set for attracting an international crowd to the Tampa Bay area.
Some predictions are even estimating a 50% rise in home building permits for 2012. The fact that supply and demand are not as far apart as they have been the last five years, could set the stage for a great year in home building. Naples, Tampa Bay, and other neighboring gulf coast areas should feel the first wave of this optimistic increase.
A sign of good things: unemployment rates are down, plans are in place to attract a diverse crowd to the gulf coast and Tampa Bay area, and promising initiatives are set for a great year in new construction and home building. Someone should tell the Mayans to add these events to their calendar!

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SI Real Estate Brandon & Vicinity

Come and Visit Today, Come to Stay!

Brandon is conveniently located just east of Tampa, and is known as Tampa’s premier bedroom community. Brandon and surrounding vicinities such as Apollo Beach, Riverview, Ruskin, Seffner, Valrico, and Wimauma comprise one of the most highly sought after areas in the Tampa Bay region. Known for its convenient location, affordable property prices, and amazing natural beauty… come see what all the talk is about.

Those interested in residential real estate in Brandon will find many types and styles of homes for sale in Brandon, as well as community events of interest and local amenities unique to the Brandon area. Others may enjoy outdoor activities and family friendly atmosphere of Brandon. If you are considering buying or selling property, planning to relocate, looking for Brandon homes for sale, or looking for any other information about real estate in Brandon, or the surrounding areas, you have come to the right place.

The Brandon area and surrounding vicinity offer many award-winning master planned communities such as Covington Park, FishHawk Ranch, MiraBay, or Panther Trace, just to name a few. Live amongst the natural beauty of the area has been diligently preserved. FishHawk Ranch is Tampa’s first residential community to be certified “green” by the Florida Green Building Coalition and boasts nearly 30 miles of trails serve to connect the parks, amenities and villages. MiraBay is located on beautiful Tampa Bay and offers an unspoiled waterfront lifestyle to be envied. Enjoy the many lakes and parks, canoe and kayak along the Alafia and Little Manatee Rivers, and savor in the sweet lifestyle offered by living on the sparkling waters of Tampa Bay.

Brandon and vicinity boast many wonderful fresh and new communities. Many homes are built by builders such as Arthur Rutenberg, Ashton Woods, Bayfair Homes, Beazer Homes, Cardel Homes, Centex, David Weekley, D.R. Horton, Hannah-Bartoletta Homes, Homes by John C. Fowke, Homes by WestBay, Hyde Park Builders, K. Hovnanian, Sabal Homes, Standard Pacific Homes, M/I Homes, Minto, Pulte, and Taylor Morrison.

Brandon is an unincorporated community located in Hillsborough County. The community is situated about 10 miles east of Tampa, near Florida's Gulf Coast. Highway 60 is the main corridor where everything can be found from retail shops, restaurants, movie theaters, and medical facilities. Easily accessible from Interstates I-4 and I-75, Brandon is the largest unincorporated community in the state of Florida. Quick and easy access to Hwy 301, US 41, and the LeRoy Selman Crosstown Expressway make living here very desirable. Located within minutes of downtown Tampa, Brandon combines small town living with easy access to the big city.

There is plenty to do within Brandon itself, but even more when including the beaches and attractions nearby. The city of Orlando is about 90 minutes away from Brandon. In addition to Walt Disney World, attractions in the Orlando area include Universal Studios and Sea World Florida. The Tampa area, only minutes away, has its own share of popular attractions such as Busch Gardens and Lowry Park Zoo. Also, the Tampa International Airport, St. Pete Times Forum, The Florida Aquarium, Tampa, Theatre, and the David A. Straz, Jr. Center for the Performing Arts are less than 20 minutes away.

All the convenience of city living at a fraction of the cost – come and visit today, come to stay!

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SI Real Estate News in Tampa, Florida

Home Ownership Benefits Local Neighborhoods and Communities

A recent report by the NATIONAL ASSOCIATION OF REALTORS® (NAR) Social Benefits of Homeownership and Stable Housing explores the impact of home ownership on communities. Many home owners in Tampa, Florida who have made an investment in their future by purchasing a home rather than renting already know the positive impact home ownership has had on their lives, but are they aware of the positive impact real estate and home ownership is making in their community as a whole?

This report takes a close look at the ownership of homes and the impact of stable housing, as opposed to transitory housing and homelessness, on social outcomes looking at educational achievements, civic participation, health benefits, crime, public assistance, and property maintenance and improvement.

“Homeownership certainly contributes to positive social outcomes, but those outcomes are truly a result of stable housing communities,” said Vicki Cox Golder, President of the NAR. “With strong social ties and a cohesive community, home owners can enjoy not only the long-term financial benefit of owning a home, but also a more satisfying life – which is what’s really at the heart of the American Dream.” After all, homeownership has been a key element of the American Dream for decades and remains very much alive even today.

Homeownership plays a key role in educational achievement as students from families who own their homes are more likely to stay in school. Students from families that rent move more frequently and this has a negative impact on the level of stability and achievement in academic settings.

Civic participation is more likely from those who own their own homes, as opposed who rent as homeowners have a vested interest in their community. Homeowners are more likely to vote and be active in an effort to bring about positive change in their own communities.

Golder adds, “The research shows that home owners report higher self-esteem and happiness than renters, resulting in better overall health, both physically and psychologically.”

It only stands to reason that home owners are more vested both emotionally and financially in their property than renters. Therefore, property owners are more likely to establish crime prevention programs designed to keep their neighborhoods safe and their property values high. Neighborhoods with higher rates of renters tend to be less stable, and many times the result is social disorganization, which ultimately leads to higher rates of crime.

Those who own their own homes spend more time and money maintaining their homes than renters will. Property values and stability are therefore higher in neighborhoods with higher rates of homeownership.

SI Real Estate believes that homeownership is at the heart of the American Dream. Call an SI Real Estate Specialist today to learn how you can become a homeowner and start living the American Dream.

SI Real Estate is a full-service real estate company that can assist you with whatever your real estate needs may be. We provide the complete spectrum of real estate services, utilizing our thorough real estate experience and extensive Tampa Bay area knowledge to meet the needs of buyers, sellers, relocations, investors, landlords, and tenants.

Call us at 813.631.5144
E-mail us at YourHome@SIREalEstateInvestments.com
Visit us at http://www.sirealestateinvestments.com/

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Featured South Tampa Builder of the Week

BAYFAIR HOMES

Homes of Enduring Significance

The Grand Tradition of Homebuilding

Bayfair has been a presence in the Tampa Bay home market since 1989, acclaimed as a premier builder in the region and valued by a loyal clientele. Through the company’s extraordinary growth since its inception as a custom builder, the foundation of quality craftsmanship and uncompromising customer service has remained at the core of the Bayfair experience.

Led by J. Michael Morris and David Seidenberg, Bayfair began exclusively in South Tampa neighborhoods, where the company’s distinctive designs from classic to contemporary are still clearly recognizable. Today, as they’ve expanded to include custom homes throughout Tampa Bay’s premier neighborhoods, an experienced team of professionals preserves the Bayfair tradition of attaining the highest standards in homebuilding, and a dedication to make the building process as memorable and pleasurable as the distinctive home itself.

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SI Real Estate | South Tampa

Luxury Real Estate as Featured in Focus Magazine

A Community of Unwavering Appeal

The graceful tree-lined streets, lending only a glimpse into the distinctive and well adorned homes provides for an impressive community that attracts the most discerning. The distinctive allure of South Tampa is its exclusivity. However, all want the chance to live in the heart of the Bay, to enjoy its comforts and bask in its Southern charm.

A neighborhood such as Bayshore Beautiful offers a picturesque neighborhood of older homes and large old oak trees. New construction in South Tampa and especially Bayshore Beautiful has been hard to come by.

A chance to find your home amongst this renowned area can be found nestled in a gated enclave. Bayfair Homes has now launched an endeavor to develop custom homes within Bayshore Beautiful called Chapin Square.

Bayfair Homes offers an in-house architect to assist with the custom design process at Chapin Square. This completes the suite of quality services offered by Bayfair Homes, a celebrated custom home builder.

SI Real Estate is partnering with Bayfair Homes to provide a full service custom home building experience in South Tampa along with excellent service and “Global Real Estate in Every Way.”

For more information, please call SI Real Estate at 813.631.5144
E-mail us at YourHome@SIRealEstateInvestments.com or
Visit our website at www.SIRealEstateInvestments.com

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