What's going on in the Tampa Real Estate Market? Tampa Bay's #1 Realtor & Expert discuss the RE market improving, benefits of staging

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Andrew Duncan, Tampa Bay's #1 Realtor and Real Estate expert with Arnie Diaz from Waterstone Mortgage and Linda Saavedra from ShowHomes Home Staging talk about home values rising, how it's improving, home values and how staging could help in getting a better appraisal.

Andrew talks about articles that have been coming out about home values that are nationally driven kind of articles. These articles are very misleading to people because they don't necessarily align to the Tampa real estate market.

Arnie agrees that there are a lot of misinformation about the market. Real estate is very local. It could be your subdivision versus a national article. What's going on in some parts of Tampa Bay may not necessarily be the same as in other parts of the market.

One thing that's sure is that Tampa Bay's market is HOT. Home prices are appreciating. Inventory is low so contract prices are going up. But the problem is that when you go out and get the appraisal, the comparables haven't caught up yet. Because the appraisal goes back 6 months, you might not find the comparables to that property that have caught up to where the prices are today.

As mentioned before, real estate is very local. It varies from neighborhood to neighborhood. Another example that Andrew sites is that in the $300,000-400,000 range, there are a lot of bidding wars going on but when you get to the $900,000-1M and that's not very likely because there's not as large of a buyer pool in that price range.

One of the things that could help with getting a better appraisal is home staging. While an appraiser would look at the math, they are still impressionable people just like consumers.  They determine if the home is on the higher end of the market or the lower end by looking at impression of the home. The better presentation you make, the more impact you will make to the buyer as well as the appraiser who will more likely appraise it on the upper part of the scale because they feel like it's in better condition, though it may or may not be but staging will set the tone for that. Linda agrees and adds that statistically, there is a higher perceived value for a beautifully furnished home as compared to one that has not been staged, so it's a fact and a good thing to do if you want to get a higher value for your home.

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.

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