Tampa Palms is a popular area of Hillsborough especially among young influential home buyers and those that appreciate greenbelt sports or country living with modern convenience. If you have been searching for a place to call your very own then keep reading to find out if Tampa Palms is the destination of your dreams.
The number and price of Tampa Palms home sales hit its peak in 2005 with sales holding strong well into 2006; by summer of 2008 the median price of home sales in the 33647 zip code has fallen from a high of approximately $350,000 to under $250,000 making it a prime opportunity for those searching for bargain priced Tampa homes for sale.
Tampa Palms is conveniently located just outside the major metro areas of Tampa making it an accessible route for work, school or play but with the peace and privacy that only low density living can provide. With just over 620 people per square mile, Tampa Palms is definitely considered “low density”.
Property taxes remain relatively low with an average household paying $3,355 annually compared to a state-wide average of $1,260 annually. Keep in mind, most homes in the Tampa Palms area are newer, having only been built in recent years. There are also very few mobile or manufactured homes and relatively few rental units.
The demographics of the area are as follows:
• White population: 21,747
• Black population: 1,541
• American Indian population: 54
• Asian population: 1,806
• Native Hawaiian and Other Pacific Islander population: 15
• Some other race population: 503
• Two or more races population: 624
The median household income for Tampa Palms is over $74,000 compared to only $42,000 for Florida as a whole, making it a strongly middle class area predominated by families with children. Roughly 90 percent of home in the area have a current mortgage with an average monthly cost of $1,600.
Of potential interest to investors and foreclosure buyers, it is estimated that only 400 homeowners in the area have a second mortgage and less than 600 have a home equity loan. No records exist for homeowners with both a second and HELOC; translated to practical considerations this means the price of homes in the area has dropped dramatically in some instances but there is reason for optimism when approaching a short-sale since there are few secondary liens to content with when making an offer. If you are interested in purchasing a house in Tampa Palms, foreclosure or making a short sale offer then speak to a reputable and knowledgeable agent to gather comps and other recent data to support your position