I think that this is the first time that I have seen a question like this.

Look at the price index of houses in these two regions over the past 20 years. You will see that the cost of housing in the Tampa Market grew at a slower pace than most of the US, for many years. Then when the housing boom hit, we exploded. We had further to go and grew faster than many areas, and even different parts of this market grew at a different rate than other parts. (South Tampa passed 30% per annum while Town & Country struggled to hit 15%)

It is all about Location and economics of that Location. I own properties in South Tampa and live in Pasco, while it is now a trek to work on the property, and expensive, those same gas prices are actually driving my South Tampa values up. A GOOD South Tampa REALTOR, like my friend Antonio, will tell you that one of the main things people are looking for now is a short commute.

(if it weren't for deed restrictions, I would have one of those old fashioned oil rigs in my back yard)

So with that said, Tampa is built in manner that allows prices to fluctuate greatly from mile to mile. Fuel costs are adding to that and pretty soon, houses along a bus route will probably go for more.

I guess what I am trying to say is LOCATION-LOCATION-LOCATION.


Gary De Pury

Wed May 28 2008, 10:43

Hi Beth,
Current prices in the Tampa market are reported to be back to early 2005 levels. This is off from a peak in 2006. The rise was mostly fueled by speculators with access to easy-to-obtain, risky mortgages. You are correct to assume that real estate markets are local - quite true. Still, you can find bargains around Tampa with all the motivated sellers. If you need any assistance, feel free to contact.

Fri May 16 2008, 09:32

Beth,
This is a difficult market to follow and understand but on the whole market prices have dropped considerably over the past 3 years. However, prior to this the housing market in our area witnessed a period of growth and appreciation that was tops in the entire country.

The market currently is in a "correction" mode with us seeing definite downward pricing. The reality is that now is a great time to consider buying. Our recommentation is to find an agent to support your interests relative to your specific criteria.

From the sound of things you missed the boat once already.....don't miss it again.

The "Eckler Team"

Fri May 16 2008, 09:28

Hello Beth,
Ever wonder why people retire in Florida............ and not in Minneapolis?
it's about 40 degrees you don't have to pay in heating costs :)
Tampa has been growing like crazy, and still is.
Maybe a look at the right place will make discover tons of affordable housing choices available trough the Crisis...... check my site for foreclosures, or call me for bank owned properties.......the best bang for the bucks!
http://www.hothomespot.com/search_result.php?mode=foreclosure

Fri May 16 2008, 09:23

Beth,

The local economy and market are vastly different. It depends also on what area of Tampa you are looking at. You truly cannot compare a home on Bayshore Blvd, to a small bungalow in Ybor CIty.

Even within the different zip codes of Tampa, prices vary. Sometimes you just have to move a little further north or south of Hillsborough County to find some good deals. Builders have great incentives at the moment, with some less than $100 per sq. ft.

Phil

Fri May 16 2008, 09:23