Real Estate Blog

People from snow-cold wintery states still flock to Florida in large numbers, like this lovely couple in today’s Tampa Tribune viewing a relatively new 6,751 sq. ft. home. What’s the cost? Why are they willing to pay it? Read this snippet:

The asking price: $3.9 million.

“It is so cold up north and the weather is resortlike here,” said Jennifer Zales, 36. “Who wouldn’t want to live in Florida?”

It’s buyers like the Zales who are expected to keep Florida’s housing market hot in 2005, even if interest rates rise and sales slow in Northern states.

“The very wealthy are making money in the real estate market right now and not in the stock market,” said David Lereah, chief economist for the Washington, D.C.-based National Association of Realtors. “They are coming into the market and buying two or three homes. At the same time, the baby boomer generation is looking to retire and move to warm weather.”

While housing may, and is likely to slow in other parts of the nation in 2005, it is likely that the Tampa Bay housing market will continue to move full steam ahead. Expect rising prices and short to medium stays on the market for homes and condos, whether luxury, waterfront or further inland.

-John Mudd

“Mr. Real Estate”

Here’s a snippet from Biz Bits, courtesy of the St. Petersburg Times:

ONE THING YOU CAN SAY about the pundits who each year predict the end is near for rising home prices: They’ve been consistently wrong. Those who fear we’re in a fragile real estate bubble can relax, at least for now, Kiplinger.com says, as it looks like another strapping year for real estate prices.

Bubbles in most cities, especially those here in Tampa Bay, belong with other mythological tales, such as those that include Zeus, Mercury and Harry Potter. You never know when Tales of the Real Estate Bubble might actually wind up on bookstore shelves everywhere and even become a New York Times Bestseller.

-John Mudd

“Mr. Real Estate”