Tampa Real Estate Market One of the Most Unique in the World - No bad time to buy or sell

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Andrew Duncan, Tampa Bay's #1 Realtor  has Robert Johnson, head of his listing team, as guest to talk about how unique the Tampa Bay Real Estate market is on The Duncan Duo Real Estate Show on 970 WFLA.

Tampa Real Estate Market has one of the most unique markets in the world w/ little seasonality impact with snowbirds. It's never a bad time to buy or sell. They do not have as much seasonality as some of the other markets because when they lose the families that want to buy during the summer, they pick up the population increase from the people coming in for the Holidays - the snowbirds and relocation people.

There's really not a bad time to sell a property in Tampa Bay because the demand and supply for properties is year round.

Robert agrees and adds that though some sellers might not think this would be a good time to sell, it actually is. Buyers want to get in before the holidays then right after the holidays, the snowbirds are down and it gets busy again. Then summer comes around and there are families looking to buy again. The Tampa Bay market is so different from any other market.

Unlike other states like Detroit, Indianapolis, Georgia and New York, they don't get the increase in population Florida gets from the seasonal fluctuation and from the International audience coming from Europe. They in fact, get a decrease in population because people are coming down to Florida or to the South. It might be a strange time for everyone else but it's a very busy time of the year for the Duncan Duo.

Some people have the conceived notion that this is not a good time to sell and some opt to wait until Spring to sell their home. Andrew stresses that it is false for Tampa Bay. Though there are instances that it makes sense to wait but an example he sites is when a seller has a condo by the beach to sell but wants to wait until Spring, that would be the biggest mistake he can make because since it's a vacation property which is in fact a target for the Northerners.

December is usually the 2nd best month in the year in closing for The Duncan Duo team. Robert says it usually slows down around the holiday week but that's it.

Also, since a lot of sellers decide not to put their home on the market, the supply and demand curve suddenly turns in the favor of the seller. Though it could be an inconvenience to put your home on the market during the holidays, with all the decorations up and the showings needed to be done, on purely a statistical business perspective, selling your home during the holidays can many times be a great decision.

Andrew highlights that though it's a case to case basis and there are times that it makes sense to wait before putting your home on the market, often times consumers have a preconceived notion that the market is slower and less buyers but in reality, the market is slower because less people are putting their homes on the market because they don't want to deal with the inconvenience. In reality, the saturation rates are comparable to what they are in June when more homes are on the markets so more homes sell.

If there are buyers looking during the holidays, they are probably very motivated. They probably really want something done by the end of the year and they understand the tax benefits
of closing by the end of the year in the Homestead exemption.

For more Tampa Bay Real Estate news and advice, tune in to The Duncan Duo Real Estate Show on 970 WFLA - Tampa Bay every Sundays at 10 am.

*The Duncan Duo and RE/MAX Dynamic has moved. As of 10/11/2014, our new address is 6320 S Dale Mabry Hwy, Tampa, FL 33611

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