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Andrew Duncan, Tampa's #1 Realtor and Expert talks with The Diaz Duo at Waterstone Mortgage and Joellyn Robles from Hillsborough Title about consumers being misled by real estate data that is old. They also spend a few minutes talking about the worst Tampa Bay neighborhoods and zip codes for % of homes losing value.
Case-Shiller Index which is regularly used to talk about what is going on in the Real Estate Market. What consumers don't realize is how old the data they are using in their reports. As of October, the data of Case-Shiller is only up to July. Consumers are basing their decisions on old data. What they are not factoring in is all the changes in TRID that will cause some challenges. The report is also not factoring in the data from August to September. The report also talks about the entire market in general but in reality it may not necessarily reflect on what's happening in Plant City, Lithia or New Tampa.
He also talks about the zip codes of areas where homes are losing value according to Zillow reports. Some of the zip codes mentioned were 33592 (Thonotosassa), 33565 (Hernando Beach, Webster), 33565 (Plant City), 33525 (Dade City) and 33427 (New Tampa). It doesn't mean that there have been drastic value drops in these markets. It only means that
the market is starting to soften a little bit. We can see some of the pressures of the elections and economic pressures come out.
They also talk about the zip codes with the lowest percentage of homes losing value. This doesn't mean these are the areas with the best appreciation. Some of the zip codes mentioned were 33605 (Tampa), 33534 (Gibsonton), 33713 (St Pete).
To get more Tampa Bay Real Estate news and advice from Tampa Bay's #1 Realtor, tune in to The Duncan Duo Real Estate Show on 970 WFLA - Tampa Bay every Sundays at 10 am.