Real Estate Data Reports For Tampa Area
Real estate data reports are as important to a home buyer and home seller as a listing report or seller’s CMA. Although market timing is difficult to predict, there are ways to know the direction of the market, prices and other real estate data.
Let’s go back in time, say to 2005. Many people bought houses that year which preceded the peak level of home prices in 2006. We hear many statements such as caught “off guard,” “flat footed” or “by surprise.” Yet, we recall reading several market analysts warn about a “bubble.” It was not one lonely blogger, mortgage broker or real estate agent that spoke with alarm. Many people were concerned about the real estate price bubble and they were right. But, greed by, ignoring the real estate data reports and failure to even look at everyone in the country one way or the other. Even if someone owned their house free and clear and no intentions to sell, were ultimately effected by the resulting recession.
The Red Baron Realtor remembers attending a seminar by Fannie Mae, in 2005, where a prediction was that the real estate market would remain strong until at least 2010, another five years! The economist presentation pointed to a statistic called the “affordability index.” It indicated that affordability was historically high, but that current demand, and at that time low interest rates of 6%, would continue to drive the market.
So what information in the monthly Real Estate Data Reports for Tampa Area provide for you? Market trends, on a local basis, with recent real estate statistics provide information of the direction of home prices, average sold prices, days on market and other valuable information.
To use a Red Baron Realtor analogy, a good pilot does not take off the runway to fly to a certain destination without a flight plan and weather report. Why then would someone embark on buying or selling a house without their real estate data reports for the Tampa area?