My New Blog

Better still is that PTR’s first quarter production figures have just been compiled and reflect even more good news.  During the time period of January – March, 2009 Prudential Tropical Realty enjoyed a 20 percent increase in pending dollar volume.  Even more encouraging is that the company saw an increase in closed dollar volume of approximately 39 percent.   

This latest trend may be an indication that buyers are now realizing what we – their real estate experts—have been saying all along: ‘now is the BEST time to buy.’  A better understanding of true market value, coupled with the lowest mortgage interest rates in more than 30 years, have at long last motivated buyers to move off the fence and buy.

Furthermore, according to a February report produced by the Greater Tampa Association of Realtors, the Tampa Bay area is now experiencing a nine month supply of housing inventory.  This is a significant improvement over the same time period in 2008 during which there was a 14 month supply of homes.

Says Polito, “Prices are down where they need to be… we’re arguably pretty close to realistic home values.”  Polito estimates that the market will show signs of stability sometime in the second half of the year.