What is happening to home values in the neighborhood? To make an informed decision about buying or selling real estate, you need to know the data, the schools, the builders, the floor-plans and the neighborhood issues. You need to know the difference in sales prices for traditional sales compared to short sales and foreclosures. Understanding the dynamics of neighborhood markets helps avoid mistakes, preserve capital and build wealth.
The residential charts below show trends for: Median Price, Price Per Square Foot, Days on Market and Inventory Levels.
The the laws of supply and demand play a role, but the value of a home does not behave like a share of stock. Contrary to what many Tampa Realtors believe, homes are not a commodities. A home is an experience and a place to make memories that also happens to be a historically solid long-term investment. Composite numbers such as price per square foot do not tell the entire story. Upgrades matter. The condition of the property matters. The lot and view add value. The marketing and negotiating skills of the Realtors makes a difference.
While nobody can control pricing levels in the marketplace, the Bohannons have proven system that gives you a competitive when buying, selling or investing in the Tampa Bay real estate market. Contact Annette, Doug or Dale Bohannon at Coldwell Banker Residential Real Estate in Tampa, Florida to formulate a plan.
