Would you like a 28% discount on your property taxes, home owners insurance, PMI, title insurance, intangible tax, escrows, and your mortgage payment? Would you like to find your Tampa dream home for nearly 1/3 off? It feels good to pay 1/3 less than the person sitting next to you on an airplane flight, but it feels even better to pay 1/3 less than the person living next door.
Many of the costs associated with purchasing and maintaining a home are based upon the purchase price. The September 2008 S&P Case-Shiller Home Price index reports that home prices in Tampa have fallen by 28% since the highs of July 2006.
S&P Case-Shiller Home Price index – Tampa
September 2003-September 2008
* The S&P/Case-Shiller Home Price Index has been tracking changes in the value of the Tampa residential real estate (single-family homes) for 20 years. The index measures monthly changes in Tampa sale prices of re-sale homes, capturing re-sold sale prices to form sale pairs. (Much like retail analysts look at same store sales; this index tracks same home sales over time). The S&P/Case-Shiller Home Price Index is calculated monthly and published with a two month lag.
- By Dale Bohannon
