Clearwater Florida -We all know this Clearwater Real Estate Market has been slow for home sellers and last month I wrote an article wondering whether we were hitting the bottom of this down market.
Clearwater – Tampa – St Petersburg Home Prices and Sales Update
Well The Tampa Bay Business Journal reported some good news this week Tampa Bay / Clearwater home sales are up 11% year to year in the month of October. We believe this is because we are still in a strong buyers market with lots of home sellers resorting to short sales to get their homes sold since most owe more on their homes than they are worth.
I would say that at least part of the increase is homes sold is due to (1) Banks are now moving faster on these Tampa – St Petersburg – Clearwater short sale properties for sale. Unlike a local teacher we’ve been helping buy a home who had to wait 5 months to get a bank to approve the home sellers short sale request (showing the importance of having a Clearwater Realtor who is experienced in short sales be your listing agent).
The second factor we see is the difference when skilled short sale Realtors, like us, are representing the Tampa Bay home sellers and are able to often expedite the process for example one of our recent home sellers was delighted that we successfully negotiated with their bank to get their short sale approved within 2 weeks which means they were able to sell their home quickly for todays top dollar and not be chasing the market down or worse yet face foreclosure.
I wish it was ALL good news however if you’re thinking of buying or selling it’s important to note that we’re still in a strong buyers market and it’s hard to believe that Tampa – St Petersburg Clearwater “median sales prices were down 26 percent from $205,600 in October 2007 to $152,300 last month.”. Wow if you are thinking of buying a home now is still a great time and we are seeing great deals especially considering all the Clearwater short sales and pre-foreclosure properties for sale !!
- Clearwater Real Estate Market gets good news but have we hit home prices bottom?
Clearwater – Tampa – St Petersburg Condo Prices and Sales Update
The news is not so rosy for those that want to sell their condominiums in the Tampa Bay real estate market. Only 399 Tampa Bay condos sold in October, which means the number actually selling is down 12 percent from Tampa Bay condo sales in 2007. The news is also bad for Tampa Bay condo prices as well – the median Tampa – St Petersburg – Clearwater condo prices dropped 28 percent from $173,300 to $125,200.
Looking to Buy a Clearwater Home?
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Do You Need Sell Your Clearwater Home Now?
Want to sell your Clearwater home? First you’ll want to ask, “What’s my home worth right now?”. Our experience shows it depends on where YOU live so we’re please to offer home sellers a FREE Comparable Market Analysis on your home for your neighborhood! No obligation, of course.
The reality is that today in the Tampa Bay real estate market homes are selling for what they sold for in 2004. If you bought your property in the last 5 years or utilized your home’s equity you may owe more on your home than it will appraise for which means selling for what you owe in todays market almost impossible without an approved short sale. It’s important that you act now, be proactive and get professional advice now.
Call us to schedule a FREE private real estate consultation to fully understand your home selling options (no pressure no hassles – guaranteed).
We’d helped many families who have a Tampa Bay – Clearwater home to sell, quickly and painlessly even in this difficult Tampa – St Petersburg Clearwater Florida real estate market. One of our happy home sellers even dubbed us the painless Realtors. In fact, we may already have a buyer for your property too because we understand that over 84% of home buyers today are finding their next house on the internet which is why when you use our Wise Home Selling Plan we make sure they are seeing your home first.
Whether you are buying or selling a home in Clearwater / Sand Key Florida / Saint Petersburg / Tampa Bay Florida
Call us now and let us know what you need help with today! – 727-710-8036.
Great report! I thought I had the corner on the stayin up late to post market! Keep them coming!
I am seeing more and more markets with similar results. The number of sales are up but the average price is down.
Maybe a better way to judge sales is the total dollars sold. That is the number used in most industries.
Cyndee, good news on the market. Soon the government will be giving 4% mortgages and everyone will buy 🙂
The increase of 11% is excellent news. I read that southern California and the bay area were both way up as well. I realize that prices are way down, but the fact that properties are moving is wonderful. If investors weren’t limited to 4 homes that they can finance, the number would be even higher. A pick-up on more markets will be good to hear about as many people are waiting to sell before buying somewhere else.
It seems as the market is starting to get some solid ground as far as inventory and sold units are concerned. Looks as if prices may still decline a little as the glut of foreclosures and short sales work their way through the market. Mortgage rates are crazy low right now (in the low 5’s) hopefully they stay low for a while. There are a lot of great deals. I think investor units are actually starting to cash flow. That is a sure sign of the bottom.
This is great news in conjuction with reports around the country. Prices are down but sales needed to improve before prices improve so hopefully this is a sign we are halfway through a recovery.
I would have to guess that since Florida and California headed in to this real estate recession and were the first to experience big price declines that they will also lead us out.
Nothing goes up forever and nothing goes down forever.