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Tampa Real Estate Is Hot: The Time to List is now!
The website Trulia announced the "10 Markets to Watch in 2017" and Tampa Bay- St. Petersburg area nabbed the 5th spot on the list. Overall, Florida grabbed an impressive 3 spots on the list. There is major job growth on the horizon with the Vinick-Cascade project in downtown Tampa. The University of South Florida and University of Tampa also provide education employment possibilities for new transplants. Take into consideration the gorgeous year round weather, outdoor activities, up and coming neighborhoods like Seminole Heights, and it is a tropical real estate dream.
Considering the Tampa Bay-St. Petersburg market is getting more attention, real estate experts are advising sellers to eschew conventional wisdom and list early. As the saying goes "The early bird gets the worm" and in this case, a better real estate deal. The real estate market is a sensitive and seasonal to multiple factors. Usually, sellers time the market to get the best price. The summer is the peak season for sales with most sellers listing in the spring to attract the maximum number of buyers.
This year however with the multiple factors affecting supply and demand the rules are changing for local real estate.
The national inventory levels in the beginning of 2017 are at a considerable low. Sellers have less competition now than ever before. Off-season buyer demand is unusually strong with the mortgage rate increase in October, November, and December. The buyers are feeling a sense of urgency and the market is heating up to meet the demand.
In fact, consumer confidence is at a 15-year high which sets the stage even more. The buyers are ready to pounce!
Therefore, the months of winter and early spring will be busier than usual. Instead of timing for a spring list, a seller might benefit from listing in late winter to maximize exposure to buyers. This holds true especially if you want to buy again. An approximate 85% of sellers go on to purchase another home after the initial sale.
It is still important to do your research to time the sale best for your particular situation. An experienced real estate agent is your best bet for navigating the exciting local real estate market. So there you go, Tampa list early and list with confidence as they say "timing is everything".
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