Are the roads getting more congested, or am I just getting older and losing my patience?  I’d like to think the latter is not true!!

If you’ve been paying attention to the news over the last week or so, you might have heard two very interesting things.  The first, per the US Census Bureau, Florida had the highest percentage increase in population between July 2021 - July 2022.  With a net increase of over 400,000 people in just one year, this amounts to an INCREASE in over 1100 people in Florida PER DAY!!

The next interesting thing - Forbes recently listed Tampa as the best place to live in Florida.  The recent city administrations have certainly done a great job at advertising Tampa as the place to be!!

If my memory serves me correctly, back in 2006, Forbes listed V.M. Ybor (my neighborhood) as the 12th best place to invest in real estate in the entire U.S.!  During that year, our small neighborhood experienced a mini-boom of sorts, which was not good at first because it brought all sorts of real estate fraud to our doorstep.  In the long run, it allowed properties to sell after going through foreclosure, and eventually helped to stabilize our neighborhood with more owner occupied homes, and has helped us to create quite a tight community.

With the continued media focus on Florida, you can count on a real estate market that will not be crashing anytime soon - or ever.  What will the intense increase in our population bring in Florida, and more specifically in Tampa and Ybor?  Who knows, and only time will tell as trends are usually only seen in the rearview mirror.   

My hope is that it brings residents wanting to enhance their lives by living in Florida, not investors looking to exploit the current high popularity while not properly caring for their properties in the meanwhile, and causing quality of life issues for their neighbors.

It is true that the Tampa market has softened slightly from its recent highs.  With the 2022 election season over, combined with the Fed raising the rates pretty aggressively throughout the year, the media hype about the high interest rates seems to have settled a little.  My prediction is that people are still going to want to purchase homes no matter the price point due to them being ready to be homeowners.  Life events happen no matter the current interest rate.  Buyers will simply adjust their expectations, choosing homes with a monthly mortgage payment that fits their budget.  

And with the home inventory rising over the last 6 months from record lows, we are finally getting back to a more “normal” market where buyers and sellers are on increased equal footing.  Is now a good time to buy?  If your option is to pay an outrageous amount in rent versus buying a home if you’re feeling the itch, I’d go with option two.  Building equity with a home purchase makes perfect sense to me.

As long as you’re buying a home that is not overstretching your budget, is located in an area that is on the upswing - which is anywhere near downtown or Ybor City! - and you have a safe and comfortable place to live for the foreseeable future, where’s the risk?  Go for it!!

Coming soon….

the types of home foundations you will find in the Ybor and Heights areas!!