Real Estate Market Reports
Clearwater Florida - Have We Just Seens Signs of Clearwater Real Estate Market Recovery?
February 1st, 2009 Categories: Clearwater Beach Florida, Clearwater Florida, Real Estate Market Reports, Real Estate News
Clearwater Florida - OK, increased home sales numbers in Clearwater FL as well as the US overall for December were definitely helped a bit by the beating median home sales prices have been taking. But don’t let that fact fool you into thinking that sellers weren’t still smiling ear to ear - it’s all good news for the Clearwater Real Estate market!
Check out this video that Chris Griffith, Bonita Springs Realtor shared with us - It’s nice to be able to share “good news” in the media with you - Cramer says that Florida “has hit bottom” and is a model for the rest of the country.
In fact, only a month after falling below the 5-million unit trend line, December housing sales volume saw a spike of some 300,000 homes leaving more than a few housing analysts with their jaws hanging open! Folks - we could see the first makings of a case that this spring’s home-buying season could have some steam behind it!
As I said, it’s no secret that falling home prices here in Clearwater, Florida and across the nation have helped fuel home sales. Nationally, the median sales price (the midway point at which half of all homes sold for more and half sold for less) was $175,400, down $32,000 from 2007 totals.
However, the most important part of December’s Existing Home Sales report isn’t making headlines.
At December’s sales pace, it would now take 9.3 months to exhaust the existing home supply Last month it was 11.2 months. This means that buyers are competing to purchase fewer homes which, in turn, puts upward pressure on home prices.
What we’re seeing here, folks is basic supply and demand in action. Economists have remained adamant that the key to turning housing around is bringing some balance back to the home supply. We just might be heading in that direction. With recent numbers pointing to an all-time low in housing starts, December’s Existing Home Sales data signals future strength.
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Copyright © 2009 Jack and Cyndee Haydon, Clearwater REALTORS and your Clearwater Real Estate and Sand Key Florida Consultants specializing in Clearwater St Petersburg Tampa Real Estate and may not be copied, reproduced, distributed, transmitted, displayed or published.
(Image courtesy: The New York Times)
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Clearwater St Petersburg Tampa Home Sales Up 11% Year to Year in October
November 29th, 2008 Categories: Clearwater Florida, Pinellas County, Real Estate Market Reports
Clearwater Florida -We all know this Clearwater Real Estate Market has been slow for home sellers and last month I wrote an article wondering whether we were hitting the bottom of this down market.
Clearwater - Tampa - St Petersburg Home Prices and Sales Update
Well The Tam
pa Bay Business Journal reported some good news this week Tampa Bay / Clearwater home sales are up 11% year to year in the month of October. We believe this is because we are still in a strong buyers market with lots of home sellers resorting to short sales to get their homes sold since most owe more on their homes than they are worth.
I would say that at least part of the increase is homes sold is due to (1) Banks are now moving faster on these Tampa - St Petersburg - Clearwater short sale properties for sale. Unlike a local teacher we’ve been helping buy a home who had to wait 5 months to get a bank to approve the home sellers short sale request (showing the importance of having a Clearwater Realtor who is experienced in short sales be your listing agent).
The second factor we see is the difference when skilled short sale Realtors, like us, are representing the Tampa Bay home sellers and are able to often expedite the process for example one of our recent home sellers was delighted that we successfully negotiated with their bank to get their short sale approved within 2 weeks which means they were able to sell their home quickly for todays top dollar and not be chasing the market down or worse yet face foreclosure.
I wish it was ALL good news however if you’re thinking of buying or selling it’s important to note that we’re still in a strong buyers market and it’s hard to believe that Tampa - St Petersburg Clearwater “median sales prices were down 26 percent from $205,600 in October 2007 to $152,300 last month.”. Wow if you are thinking of buying a home now is still a great time and we are seeing great deals especially considering all the Clearwater short sales and pre-foreclosure properties for sale !!
Related article:
Clearwater - Tampa - St Petersburg Condo Prices and Sales Update
The news is not so rosy for those that want to sell their condominiums in the Tampa Bay real estate market. Only 399 Tampa Bay condos sold in October, which means the number actually selling is down 12 percent from Tampa Bay condo sales in 2007. The news is also bad for Tampa Bay condo prices as well - the median Tampa - St Petersburg - Clearwater condo prices dropped 28 percent from $173,300 to $125,200.
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Want to sell your Clearwater home? First you’ll want to ask, “What’s my home worth right now?”. Our experience shows it depends on where YOU live so we’re please to offer home sellers a FREE Comparable Market Analysis on your home for your neighborhood! No obligation, of course.
The reality is that today in the Tampa Bay real estate market homes are selling for what they sold for in 2004. If you bought your property in the last 5 years or utilized your home’s equity you may owe more on your home than it will appraise for which means selling for what you owe in todays market almost impossible without an approved short sale. It’s important that you act now, be proactive and get professional advice now.
Call us to schedule a FREE private real estate consultation to fully understand your home selling options (no pressure no hassles - guaranteed).
We’d helped many families who have a Tampa Bay - Clearwater home to sell, quickly and painlessly even in this difficult Tampa - St Petersburg Clearwater Florida real estate market. One of our happy home sellers even dubbed us the painless Realtors. In fact, we may already have a buyer for your property too because we understand that over 84% of home buyers today are finding their next house on the internet which is why when you use our Wise Home Selling Plan we make sure they are seeing your home first.
Whether you are buying or selling a home in Clearwater / Sand Key Florida / Saint Petersburg / Tampa Bay Florida
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Clearwater Real Estate Market Gets Good News But Have We Hit Home Price Bottom?
October 6th, 2008 Categories: Clearwater Florida, Home Seller Tips, Real Estate Market Reports, Tampa Bay
Clearwater Real Estate Market Report
Clearwater Florida - Last week we wrote about the 10 cities most likely effected by the meltdown on Wall Street. In all the bad new the Tampa / Clearwater real estate market got some good news. Standard & Poor’s released its S&P/Case-Shiller Home Price Indices, the leading measure of U.S. home prices report for which we have over 
20 years of records. The good news… showed that this July Tampa home prices were almost flat and many believe that was when our local real estate market hit bottom. Of course hindsight is always 20/20 and only time will tell.
It was the first month in 24 months (having to go all the way back to July 2006) that average home values in the Tampa real estate market had not significantly declined from the high of $238,900.
Is this the bottom of the Clearwater Real Estate Market?
Tampa average home prices in June 2008 had dropped to $175,110 and newly released July 2008 the average home prices were $175,070.
While this is encouraging news it’s still been a painful process to see home values drop over 26% in the last two years and 19.4% in the last 12 months a fact that home sellers have had to come to grips with.
We are seeing more activity and Clearwater homes are being sold in the last few months along with the fact that we have fewer properties for sale that we have in the last year. Right now our prices are back at December 2004 levels (see chart below) - YEESH that’s not good news for home sellers and explains why we see so many short sales and foreclosures in Clearwater.
Now obviously these numbers group in all of Tampa Bays diverse neighborhoods and areas from the beaches to rural areas and we all know Clearwater real estate is local and each neighborhood’s average home prices and their declines are unique. We offer you the opportunity to find out exactly what’s happening in your neighborhood by getting our Neighborhood Real Estate Market Report - which is based on real time information and also includes community information on Pinellas schools and more.
Why not find out now?
For those of you that love to track numbers - I’ve included the Case Shiller historical home price indices for you.
Historical Look at Tampa / Clearwater Home Price Indices
- You may also enjoy this article by our friend, Lenny Gurvich, South Tampa Realtor who also wrote about the Tampa Real Estate Market
So what do you think? Are we at the bottom yet? I’d love to hear your thoughts….
If you are thinking of selling your Clearwater home or homes in Pinellas county we would be happy to discuss specifics on what’s happening in your neighborhood. Give us a call at (727) 710-8036 and if you are someone who is still trying to take advantage of today’s buyers market we can help you so give us a call as well or feel free to search all Pinellas real estate for sale.
Cyndee & Jack Haydon - Clearwater Real Estate agents specializing in Bluest Backyards of our Pinellas beaches and luxury homes.
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