A recent series of articles on the CNN/Money.com website sited 6 areas of the country for real estate bargains, one of which was the Tampa Bay Area. CNN/Money Article

The news article started by saying that the Gulf Coast is not Atlantic coast of Florida, with symbols of opulence like lavish Palm Beach estates or multimillion-dollar spec homes. The article went on to say that "Tampa, with its more blue-collar feel, offers the same brand of South Florida living at a far more affordable price".

The author went on to say that "Tampa lived large during the boom years; prices rose 100% from 2001 to 2006. That was fueled in large part by speculators just looking to flip, and when they started vanishing in 2006, thanks to the slowing market and a tightening of credit, so did those massive annual increases. Real estate values have fallen 17.5% in a year".

The really good news from the CNN/Fortune article came when the author went on to say that, "Tampa is nicely positioned for a rebound. Tampa has a relatively strong local economy, coupled with the fact that the bust hit here earlier than in some other markets. This means that the downside may have largely played itself out"

The current median single family home price in Tampa is now $222,000, down from $275,000 last year at this time.  Top National Association of Realtors (NAR) economist Lawrence Yun has stated that Tampa will likely recover from the losses they have received, estimating 20% or more appreciation in the next five years.

It's nice to see the Tampa area getting some encouraging press these days. I believe that this all bodes well for the local economy and the real estate market in our town and surrounding area.

David Tipton, Broker- Diamond Dwellings Realty   Ofc:  813-653-1241