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We are posting this information as a courtesy to some people who have asked me to provide them with this data.

For the period of June 1, 2009 to June 17, 2009 in Tarpon Springs, Florida 19 properties were sold. The listing prices ranged from $68,908 to $899,000 while the sales prices ranged from $61,000 to $870,000. Other statistics are as follows:

Average:

• 3 bedrooms, 2 bathrooms    1,882 heated square feet
• Listing price: $230,142
• Sale price: $215,484
• Sale Price to Listing Price Ratio: 93%

Median:

• 3 bedrooms, 2 bathrooms    1,687 heated square feet
• Listing price: $160,000
• Sale price: $153,750
• Sale Price to Listing Price Ratio: 95%

* Information acquired from GTAR, PSAR & WPBR data.

* Information is believed to be accurate but should not be relied upon without verification.

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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 several economic experts offered Newsweek their opinions about the state of the economy which varied. They note that housing numbers are improving which realtors ® who are in the “trenches” already know because there are many buyers out there looking to buy.

We like how Allan Meltzer who is a professor at Carnegie Mellon’s Tepper School of Business and a historian of the Federal Reserve shares his opinion about the housing market. He was quoted as follows:

The government could be doing more. One step would be to offer banks lowinterest loans if they raise half their needed capital in the markets. If they cannot raise the capital, they are insolvent and should be reorganized under existing law. They could also reduce corporate tax rates to encourage investment.

The economy would also benefit if the government offered a tax credit to anyone who buys an existing house in the next two years—a broader program than the one they’ve passed, which offers a credit only to first-time homebuyers this year.

If you would like to read the rest of the article feel read it here:

http://www.newsweek.com/id/191395

Meanwhile we are seeing more buyers out there which is not surprising to us.

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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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On March 19, 2009, the Obama Administration unveiled its new website on its Making Home Affordable Program:

http://makinghomeaffordable.gov

As reported in recent Washington Reports, the program has two main components: (1) refinancing of Fannie Mae and Freddie Mac loans for borrowers who are current and have loan-to-value ratios of 80%-105%, and (2) loan modification for borrowers in default or at imminent risk of default who have high debt-to-income ratios and mortgages with balances up to $729,750.

The new website is designed to make information about eligibility, free counselors, and other program details readily available. It also includes links that let borrowers learn whether they have a Fannie Mae or Freddie Mac loan. These programs are key elements to help some people buy a home.

If you would like more information please check out their website or contact us for more information.

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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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There is so much useful information online to help you in the home buying process. Lately I have noticed two sites:

1. http://cgi.money.cnn.com/tools/mortgagecalc/

This site has a free online calculator which can be used to show an approximation of how much your mortgage payments will be.

2. http://money.cnn.com/magazines/moneymag/money101/lesson8/

This list shows some things you should know when buying a home. Notice #6 Get professional help:

Even though the Internet gives buyers unprecedented access to home listings, most new buyers (and many more experienced ones) are better off using a professional agent. Look for an exclusive buyer agent, if possible, who will have your interests at heart and can help you with strategies during the bidding process.

 

We agree. Depending on your location/state you are better off with an exclusive buyer agent. In Florida when finding a real estate agent we suggest that you look for a realtor ® because they are required to follow a very strict Code of Ethics and we suggest that you have one working exclusively in your best interest.

If you would like to know more about how you can do this or exactly what to do please contact us and we will help you through this process.

* Please note that this blog does not serve as a binding contract. However we try to help those who read our blog and those looking to buy in the Tampa Bay area who have found our blog while surfing on the Internet.