Has the Market Finally Bottomed in Tampa Bay Florida?
Full Article on this web site http://www.topteamweb.com/investorinfo-updates.html

Record-low mortgage rates, pent-up demand and a large selection of properties bode well for Buyers. The Hot Florida real estate market from 2003 to 2005 has dissipated. From 2006 to the present, there has been an increasing inventory of listings with asking prices well below the actual purchase price. The majority were speculators that got caught up in the frenzy. No one can predict the bottom for national, regional or even local real estate. The one thing that is certain is the amount of bargains that now exist...that may not be on the market for those waiting for the bottom.

A detailed comparable analysis, days on the market, sellers purchase price, sellers current mortgage outstanding, use as an investment or permanent residence is the first step to review on any property that interests. The second step is not to deal with the Sellers Listing Agent...but to use a Buyers Agent... with strong experienced negotiating skills to help you determine an offering price on the property you want to purchase.

Forbes magazine sought areas where prices wouldn't fall cataclysmically, so that buyers wouldn't be booking a fare on a sinking ship. Based on Moody's figures, Tampa Bay home prices should bottom out in the first quarter of 2008, once the region burns off excess inventory from speculators who went hog wild in 2005. Each transaction is individual.

Many recent sales were rock bottom purchases for the Buyers. A few recent examples for your consideration..........

2BR 2BA Waterfront Condo MLS #: 7256439 Orig List Price: $525,000 Reduced to List Price: $484,500 2007 SOLD Sales Price: $250,000

Address: 895 Gulfview Blvd S 303 Clearwater, FL 3BR 2BA Waterfont Condo MLS #: 7251356 Orig List Price: $639,000 Reduced List Price: $574,000 SOLD Sales Price: $480,000

Address: 530 Gulfview Blvd S 702 Clearwater Year Built: 2006 2BR 2BA Gulf Front Condo Clearwater Beach Orig List Price: $524,900 - SOLD Sales Price $406,250

As of 1/31/08 this one is still on the market Gulf Front Condo Clearwater Beach Asking $369,000 - Three years ago it would have sold for $490,000 to $540,000
The bottomed has been reached ... if you do your homework...and find the properties that are well below appraised value.

Tallahassee Fla - Jan. 30, 2008 - Realtors around the state expect buyers and sellers’ pent up demand to generate an immediate increase in home sales following passage of Amendment 1, which allows buyers to take their Save Our Homes tax savings with them when they move. “People who buy now are getting a great deal because home prices have fallen,” says 2007 FAR President and St. Petersburg Realtor Nancy Riley. “These price reductions, combined with portability, will mean a great deal on the taxes owed on their new home.” "Those who have been dreaming of buying their first home will find this the best market in many years,” Riley adds.