North Tampa’s market has made a significant recovery since the 2008 housing crash. While market conditions are not ideal, they rarely ever are. However, Tampa’s market can prove to be an environment to buy low and sell high under the right conditions.
Joe Lewkowicz warns against being too eager to buy a foreclosed home simply because the price is low. While a house of similar size in the region may cost $50K more, renovations and home improvements on a foreclosed home may cost over $100K in some cases in order to bring it up to market standards.
If a home has been previously investigated by law enforcement, it may or may not impact the value, but this is dependent upon many different variables, such as the nature of the crime, media coverage of the crime, etc.
This time of year, many buyers are interested in settling in before the school year starts, which can have an impact on what homes are able to sell for.
The North Tampa real estate market has plenty of opportunity for those who choose to pursue it, but proper care must be taken before any pivotal actions, such as purchasing a home, are taken.
For more information or to watch the full July Market Recap report visit Joe’s TV Channel by visiting, https://youtu.be/Hof6Wj7uE-g
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