MIAMI — Could Nashville be a major competitor to Tampa Bay? Will America’s “historical” rent crisis affect bay area home sales? Will fewer Canadians be buying?
Source: www.tampabay.com
Tampa Bay is Florida’s best kept real estate market. With amazing lifestyle amenities, miles and miles of beaches and a broad range of entertainment options, more people are discovering what locals have known for years.
It will be years before Tampa Bay Lightning owner Jeff Vinik’s billion-dollar vision for the urban core comes to fruition, but smaller deals are already starting to pop.
Source: www.bizjournals.com
Vertica Partners has been instrumental in its involvement in projects throughout the Channel District with land sales for 4 different multifamily projects in addition to Jeff Vinik’s massive $1 billion mixed-use project adjacent to the Channel District.
As the third largest community in the state, the Tampa housing market, has seen a more significant increase as of recently. Home values have seen an increase of 5.3% in the past year and the number is expected to increase another 2.1% in the following year. Median home values in Tampa stand at $141,800 and the median rent is $1,285. According to a Buy vs. Rent study conducted by Trulia FL, it is 43% cheaper to buy a home rather than rent one in Tampa Bay (assuming the buyer puts 3.5% down and will stay in the home for 7 years). Delinquent mortgages in Tampa are 10.5% and homeowners underwater on their mortgage come in at 22.2%. Median list price is $199,000 and median sale price is about the same, meaning that homes are being bought up for the asking price. There does seem to be a shortage of homes for sale and a surplus of apartments for rent. For those looking to purchase a home in Tampa, the search may be a little more extensive than past markets in the area as supply is down and demand continues to rise.The Florida housing market has had its ups and downs in the past. Find out if 2015 is the year to invest in the Sunshine State’s real estate market or wait.
Source: www.housingpredictor.com
Tampa has seen a more significant improvement as home values have seen an increase of 5.3% in the past year and the number is expected to increase another 2.1% in the following year.
Median home values in Tampa stand at $141,800 and the median rent is $1,285. It is 43% cheaper to buy a home rather than rent one in Tampa Bay (assuming the buyer puts 3.5% down and will stay in the home for 7 years) so is the catalyst for the home ownership rate to stop its decline to near record lows?
An Orlando-based developer is under contact to acquire the Chart House on Rocky Point and build a multifamily project in its place.
Source: www.bizjournals.com
Another potential apartment project coming to Tampa and one of Vertica Partner’s projected nearly 11,000 units for the Tampa area from Westshore to downtown Tampa and South Tampa.
Flipping isn’t for the faint of heart. Witness the dramas faced by Jeff Lewis on “Flipping Out,” where high-ticket fixes and luxury-market dynamics make for nail-biting deal closings in LA. Or consider novice investors’ reality checks as they peel back plaster and learn just how much time or money their […]
Source: www.forbes.com
According to RealtyTrac, the Tampa MSA is ranked 4th for flipping volume and 6th for flipping returns, flips accounted for 7.4% of all sales and delivered 57.2% ROI to investors.
Coming off a year when home prices appreciated by 5.2%, the median home price is currently $141,000, still down from the 2006 peak of $210,000, according to Zillow. Tampa is also seeing a surge in millennial homebuyers with 65% of Tampa home purchases in 2013-2014 being purchased by a millennial homebuyer. Good news for flippers that can appeal to this emerging home buying demographic.
While the inventory of foreclosed homes is quickly shrinking, there is still plenty of opportunity in real estate investments, particularly in these 10 cities, according to the same people who operate We Buy Ugly Houses.
Source: www.housingwire.com
Orlando, Florida coming in at number 6 on the top 10 markets for real estate investors. With an estimated 1,000 new people migrating to Florida everyday, the Florida rental market is expected to remain strong for years to come. Investors, both large and small, are finding a variety of rental options from single family homes to condominiums to apartment communities of all shapes and sizes.