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Who says that people are not buying homes?

As you can see in the graphs below there are many homes for sale. Unfortunately local and national media outlets are not down in the trenches yet somehow feel as though they “know” the heartbeat of the housing market. Despite some of their inaccurate reporting which make it seem as though no one is buying… people are still buying in the Tampa Bay area.

For the month of April 2009 2,527 homes were sold in the Tampa Bay, Florida areas of Hillsborough, Pasco, and Pinellas Counties while 4,274 homes were under contract:

This is a significant increase compared to February when 1,954 homes were sold and 3,307 homes were placed under contract:

As you can see… people are buying which is no surprise.  Despite some biased local and national media, people have to live somewhere so they either buy… or they rent. For the last month there has been an increase though the local and national media seem to inaccurately portray the housing market as a crumbling one. As you can see… locally the numbers clearly show otherwise.

*All reports are published May 2009, based on data available at the end of April 2008.
All reports presented are based on data supplied by the Tampa Florida Association of Realtors, Mid Florida Association of Realtors, Southeast Florida Association of Realtors, Regional MLS, County Association of Realtors, Sarasota Association of Realtors, Englewood Association of Realtors, Manatee Association of Realtors, Venice Association of Realtors or their MLSs. Neither the Associations nor their MLSs guarantee or are in anyway responsible for its accuracy. Data maintained by the Associations or their MLS COPYRIGHT© TRENDGRAPHIX, Inc

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We are not surprised that in a recent survey first-time home buyers are optimistic considering affordable housing prices and a decreasing 30-year fixed mortgage rate make for an ideal time to buy.

More than three-quarters (78%) of potential first-time home buyers say that now is a good time to buy a home, despite widespread concern about the economy. Out of the 1,000 prospective U.S. first-time home buyers surveyed in early March for the CENTURY 21 First-Time Home Buyer Survey, 68% think now is a better time to buy than six months ago.

You can read it for yourself here:

http://www.businesswire.com/portal/site/google/?ndmViewId=news_view&newsId=20090326005100&newsLang=en

This shows us that these first-time home buyers who were surveyed online (note their methodology on the bottom of the statistics) are noting significant factors that make this an ideal time to buy. In our experience this is typical. When the housing market “corrects” it is typically an advantage to first-time home buyers like how it is now.

So if you are looking to buy you may want to consider buying during this housing market correction.

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I was not surprised to read that existing home sales are up.

According to the National Association of Realtors ®, sales of existing homes grew 5.1 percent to an annual rate of 4.72 million last month, from 4.49 million units in January:

http://www.msnbc.msn.com/id/29836196

Out in the field, this has been my experience. With prices at one of its most affordable levels more buyers are buying. I have seen more younger people get into the home market. I have also been working with families relocating to the area. It is a great time to buy in Tampa Bay.

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According to Bank Rate.com’s national survey of large lenders, the 30-year, fixed-rate mortgage fell 4 basis points, to 5.37 percent.

One year ago, the mortgage index was 6.39 percent.

http://www.bankrate.com/gookeyword/static/mortgage-analysis.asp

This shows that while some people are waiting for a time to buy… this is one of the best times to buy in the Tampa Bay area. One of the buyers that recently closed on a home actually received a 4.87% APR so if you are looking to buy in the Tampa Bay area shop around and compare.

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I found it refreshing that in a latest report that construction of new homes jumped 22% in February. Despite the forecasts, housing actually rose to a seasonally adjusted annual rate of 583,000 last month, up 22% from a revised 477,000 in January. This all according to the Commerce Department. It was the first time housing starts increased since June, when they rose 11%:

http://money.cnn.com/2009/03/17/real_estate/housing_starts/index.htm?postversion=2009031709

Of course this is good news for Tampa Bay home buyers as well as for those beyond because it shows that housing is still growing despite the dismal predictions.

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If you are looking to buy in the Tampa Bay area, mortgage rates are currently dipping down for 30-year fixed to 5.37%:

http://www.bankrate.com/brm/rate/mtg_home.asp

http://money.cnn.com/2009/03/12/real_estate/mortgage_rates/index.htm?postversion=2009031213

For first-time home buyers if you buy before December you get a tax credit

http://money.cnn.com/2009/02/13/real_estate/homebuyer_tax_credit_finalized/index.htm?postversion=2009021712

That coupled with home prices dropping a record average of 18.2% (in Tampa the average is a 22% drop)

http://money.cnn.com/2009/02/24/real_estate/Case_Shiller_December/index.htm?postversion=2009030611

it is one of THE best times to buy in the Tampa Bay area. This includes but is not limited to the following areas:

• Bayonet Point
• Hudson
• Port Richey
• New Port Richey
• Holiday
• Tarpon Springs
• Palm Harbor
• Safety Harbor
• Dunedin
• Clearwater
• Clearwater Beach
• St Petersburg
• Tampa

and throughout the Tampa Bay area.

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The latest statistics are out. In February 2009 there were 1,954 single family homes and condos that were sold in the Tampa Bay area while 3,307 were pending sales:

February 2009 Statistics For Hillsborough, Pasco, and Pinellas Counties

* All reports are published Mar. 2009, based on data available at the end of Feb. 2008.

All reports presented are based on data supplied by the Tampa Florida Association of Realtors, Mid Florida Association of Realtors, Southeast Florida Association of Realtors, Regional MLS, County Association of Realtors, Sarasota Association of Realtors, Englewood Association of Realtors, Manatee Association of Realtors, Venice Association of Realtors or their MLSs. Neither the Associations nor their MLSs guarantee or are in anyway responsible for its accuracy. Data maintained by the Associations or their MLS COPYRIGHT© TRENDGRAPHIX, Inc.