I want to talk a little bit about the Tampa, Fla Real Estate market and give everybody an idea on how it is going from someone who works at it 7 days a week about 360 days a year.
Right now there is no question it is slower and a lot of that is because of school. Schools let out in June over a couple weeks time period and anytime school lets out, anytime school gets back in, whenever there is a holiday of any sort, it is slow. We just passed the 4th of July weekend so of course it is real slow, most people were out of town. Even little things like if it is raining really, really hard people are not going to get out looking at homes. It is weird, I have been in this industry for 18 years and in different states and I have always noticed it has been like that every where.
When the tax credit was over at the end of April, I did not really notice a lot of people that were buying just because of the tax credit. Most people are saying interest rates are so low, they are lower than 5% or right near 5%, and the home values have gone down substantially, in a lot of areas 35% to 50% some even a little bit more than that, especially the condos in Tampa.
A lot of it really depends where you are at, areas off Hillsborough and areas like Town N' Country, Brandon or maybe Temple Terrace, some of the more matured areas probably are not moving as well as some of the newer areas. Homes in New Tampa, Riverview and Westchase are all selling very well. There are a lot of areas where a lot of the younger families are tend to move a little bit better than the more matured areas, so keep that in mind.
Also the other thing that I would tell you because I get a lot of people that listen to the national news, and I listen to the national news as well but keep in mind if you are looking at buying a home in Tampa focus on the stats in the Tampa Real Estate market. Do not listen to a lot of the national news, home prices are up and home values are down or the economy is this, the economy is down, every area is different. In Tampa our recession for homes out here started in 2005 beginning of 2006, well the rest of the nation were still going really strong and you get some areas like Austin and Dallas, Texas, those areas really have not felt more than a hiccup. So I would say if you are going to look at the Dallas home prices, focus on Dallas. You would not walk into a Ford dealership and start talking to a mechanic about Acuras. It is no different, do not listen to all the national news about what is going on in the rest of the company, focus on the Tampa market.
You could get a lot of the information at www.gtar.org. There are monthly statistics every month and for every year. So I would strongly recommend to go there and get educated. Of course if a home is a good deal, I know everybody is looking for good deals whether it is a foreclosure or whether it is a banked owned, some of these short sales may or may not be a good deal, I would watch my videos on those. Get your ducks in a row and get educated. If you do not want to get educated, that is okay just get a real estate agent that really knows what they are doing.
I hope this helps you. Again, our market is going good, it is slow, it will probably pick up, it is July. It usually always starts picking up in July and August, then when school goes back in it will dip down for probably two weeks and then it will pick up slightly, then we are going into the winter months it will get a little slower. July is usually a very good month in real estate pretty much anywhere in the US, even in Tampa.