Good News: The Year Ahead For The Tampa Bay Area Could Be Bright & Promising
Posted: Friday, January 13, 2012
by Fran Larson
http://www.franniesquotes.com/
Florida’s economy has always depended on the sale of homes and sunshine for it’s economy. So it was quite a blow when the housing bubble burst. Still, people in the Tampa Bay Area are now optimistic, according to Bay9News.com. For 2012, 29 percent said they expect to be better off and 49 percent said about the same. Only 13 percent said they see a troublesome 2012 ahead of them. The younger group is more optimistic. Thirty-six percent of people 18-54 said they expect to be better off compared to only 17 percent of those 55 and over.
Florida’s median single-family sales price is $131,200, off 4 percent from last October. Condos statewide are selling for a median price of $87,800, up 9 percent from a year ago.
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Besides that, the housing inventory nationally decreased. The total number of homes listed for sale in various multiple listing services across the country dropped to 2.01 million units, according to Realtor.com. This represented a drop of 4.8 percent from October 2011 and by 21.3 from November 2010. This could drive home prices upward and energize the market for Tampa Bay.
Tampa Bay Will Be Busy
The Tampa Bay Area is already bustling because in August Tampa will host the Republican National Convention. Already, the area’s hotels, restaurants, taxicabs, buses, tourist attractions and small businesses such as photography, flower delivery and arts and crafts enterprises are busily making plans. They are expecting a large serge in business. In turn, it is possible that this upsurge will also help push the Tampa real estate market.
Americans who are thinking about retiring may put the Tampa Bay Area on their wish list when they come for the convention and see how beautiful the area is. Also, investors may have a desire to invest in this sunny area, when they see beautiful Tampa and all the surrounding properties.
The convention will be held for four days in August, and it’s expected that around 50,000 people will come to Tampa, including 15,000 media professionals. These people will not only focus on convention events, but they’re also expected to go around and experience the city’s attractions and night life. After this experience, they may want to come back to the area to live.
The Tampa Bay Area has good reasons to be hopeful about the housing and therefore, the economy for 2012.
Sources:
http://www.tampa4u.com/blog/http://www.bizjournals.com/tampabay/news/2011/11/21/bay-area-home-condo-...
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Top-level comments on this article: (3 total)Tampa is beautiful, and I hope you'all have a great windfall with the GOP convention.
My only comment is Why August? It is so hot in August...I would have the convention in April or May before the heat surge...but that's just me, as I'm not into too much heat at one time...lol.
I'm glad someone's real estate market is improving, however I heard on news yesterday that they expect the banks to begin foreclosing again due to fact they had stopped for awhile due to errors and mistakes that had to be corrected....let's hope not. Great Informative Article.Elle, the people that planned it have probably never been to Fla in August! It's the same thinking as the people who are building these outdoor malls in Florida! Who wants to try on clothes when you are all sweaty! Yuk
I am hoping real estate will improve in every part of the country. Thanks, Elle.!
Great detail and timely subject. Amazing that the real estate is going gangbusters - the convention, because it's Florida - Wish things would straighten out economically. Not the best time to be retired - you should all take a look at the prices in Connecticut's supermarkets and at the pumps. With all the foreclosures, our housing market went back to where it should have been in the first place. That's not to say people didn't overspend to get it there and now comes all the pain.
Had a problem with the entry above. First it didn't accept my stars the way I put them in. Then when I went to edit, I removed the entry and it would not let me in again. Gave me an error message. That's how come there's another entry. Sorry.Yes, it is hard for us retirees and that is why I am trying to make money on line. The job situation is slanted towards younger people (as you know). Besides all of that, I don't want to get into politics (that you run into with jobs, etc). I am writing also for Examiner - just learning the ropes - as well as other sites.
Gas and food are so expensive here, too. I can't believe the prices when I go grocery shopping. I had previously read as the country recovers, inflation will follow....no breaks, huh?
Hope everything is good with you. You have been/are a real friend!
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