June is here, and that means it’s time for an update on the North West Tampa Real Estate Market. In this Month’s Livestream conference call, Joe Lewkowicz emphasizes that June continues to remain a seller’s market and that housing inventory has been at a historic low as a result.
Currently, the $300,000 range is the most competitive, while houses between the $500,000 to $600,000 range sell slightly slower at around four months of inventory. Joe goes on to state that regardless of the speed, we are still in a market that favor’s sellers.
Over the past month, the market continues to grow stronger and will continue to do well until we reach the upcoming holiday months. The strongest and most competitive area lies between the $300,000 and $700,000 range.
And although this has been an excellent time for the market, overall there are still a few slight issues that Joe has seen this month. Loan underwriting is something to watch out for because banks are giving pre-qualifications to people early and without a second thought, so people are surprised when obstacles pop up when they apply for loans.
At this busy time of year, people are overworked and can make tiny mistakes. Know your credit report and get a score before you apply for a loan. The last thing you want to hear is a request to cancel all your credit cards in response to submitting your pre-qualification. Take care of your credit issues, so there are no surprises along the way. Talk to a good mortgage broker and have someone with the knowledge to stay on top of things to make sure you close on time.
In the Q&A section, Joe talks about the future of the real estate market within the next few months.
Q: It is now June and Summer is about to start, can you give me your guess on what the housing market will look like in the next few months?
A: He says, “April, May, June, July, and August are all hot months, but July is the best time to sell.” Joe goes on to say, the time to sell is now, or you will lose money in the future.
To catch all the questions in the Livestream call, click to watch on Joe’s TV Channel: https://www.youtube.com/channel/UCwVCxXv6wT0S-LDFORWTwNw
A realtor with extensive knowledge is essential to navigating the real estate market, especially in the Tampa Bay area. Joseph Lewkowicz’ 40 years of experience offers the best help for all buyers and sellers with questions on the housing market.
For more information on the current real estate season, check out Joe’s monthly livestreams at https://josephlewkowicz.com/livestream
To watch the full June Market Recap report, visit Joe’s TV Channel: https://www.youtube.com/channel/UCwVCxXv6wT0S-LDFORWTwNw