Posts Tagged 'Real Estate Market'

The residential real estate market in the greater Tampa area is continuing to strengthen, a positive trend that began about four months ago.  In fact, some of the latest signs of this trend can be seen in the short sale arena.

In most any market, following the laws of supply and demand, a sale does not occur until we have both a willing seller and a willing buyer.  In short sales, however, a willing buyer and seller are not enough.  For a short sale to proceed, the seller’s bank must approve the deal after the buyer and seller have agreed to the terms.  Let me describe a recent sale to illustrate my point.

A number of people have been asking me about the real estate market lately, and with good reason – there’s a lot going on. The question everyone wants answered is “are we at THE BOTTOM?”

To answer that question, first remember that a bottoming market is a process, not a single point in time. Taking a closer look at how the market topped will give you a wealth of insight and understanding of today’s market conditions. The markets are driven by the collective psychology of everyone involved in the market. When most people believe prices will keep going up, there are more buyers than sellers, weaker supply and stronger demand, and people worry less about paying too much for a property because the price increases will quickly make up the difference. That’s what the real estate market was like in 2005.