Great to talk to another Michiganite! I have been in Florida since 1988 but still have family in Michigan. To answer your question, and being a real estate broker who has experience in bank owned sales and short sales, Spring Hill is not the only area in the Tampa Bay region that has been hit with a large market share of foreclosures and short sales. Even though we are starting to see prices edge up in many neighborhoods in the area, there was a lot of equity lost during the housing crisis and many homeowners are still underwater and have justifiable financial hardships that necessitate a short sale. Short sales continue to grow in market share, while foreclosures have been on the decline. Most banks are now in favor of foreclosure alternatives at this point. It is still going to be years before we are able to get back to pre-housing crisis pricing and a lower number of short sale listings. Now is a good time to be buying since you can still take advantage of lower interest and prices, both which have been moving upward in recent months.
I would be happy to help you find a great home at a great value. My contact information is a link away in my Trulia Pro profile. Just give our office a call, and anyone will be happy to assist you.
In the mid 2000's we as well as everywhere else there was a housing boom, here home were being built at an alarming rate, and homes were seller at very high prices. then the boom ended as well as all the builders jobs. unemployment levels increased, and people could not afford their homes anymore. There fore resulting in A lot of Foreclosed homes and Short Sales. right now we are in the recovery stage, homes are selling fast again, but prices and interest rates are still on the low side ( but coming up quickly). Our inventory is very low and home that come on the market that are priced right are selling in days. The Market changes every couple of years in all areas not just ours. I am sure if you researched other areas in different states you would find very similar results.
If you have any questions about the market or our area, Please feel free to give me a call. And if you are interested in a website to search for homes that is continuously updated please call me and I will set that up for you.
Bill Moffitt, Buyer Specialist, Keller Williams Realty Spring Hill
I posted a message earlier that answered your questions. Have you been able to find a home yet? You mentioned that you were moving to Florida in May, and I was unsure whether you already found a home or are looking for a home.
Our team would be happy to assist you.
If you have already found a home, congratulations and I hope you enjoy living in Florida?
One man's trash is another man's treasure, so you should be happy that it's going to cost you less to purchase a home down there when you move.
Best of luck!
By now you got some answers to your question but the inventory is finally moving here in FL.
If you decide to buy and get a list of homes available in the area emailed to you please contact me directly at:
Have a great Day.
The good news is that all those foreclosures and short sales present a real opportunity for savvy buyers. Let me help up take advantage of some great values. Contact me soon!