If you’ve owned a house in Tampa Bay for very long, you’ve probably seen its value skyrocket recently. While it’s nice to have an asset that rises in value so quickly, it’s also a potential sign of a coming crash. During the pandemic, everyone decided they wanted to live in Florida, and many of them have started to buy property sight unseen. As soon as a house is listed, offers flood in and it generally sells very quickly…for much more than the asking price. True, new houses are being built everyday, but the demand still outpaces builders. Here’s the big question. Will the market cool anytime soon? Will your home maintain its current value or fall? A big factor is the current price of lumber, which adds about $35,000 to the price of each new home built in the Bay. But that figure is almost certainly going to fall soon, as supply catches up with demand. Labor is also expensive right now. Many people who received stimulus checks during the COVID-19 pandemic are still sitting at home and living off of their benefits. Finally, much of the housing market depends upon the economy, which is precariously perched between a post-pandemic boon and high inflation. Even in this age of uncertainty, your home is probably still a great investment. Just focus on not paying too much, and don’t take out a huge equity loan against your property. Prices are bound to level off eventually and you don’t want to owe far more than your property is worth. Source: WTSP.com
Sean Roberts was conceived in the Corvette Assembly Plant in Bowling Green, Kentucky by two passionate, panel aligning, third shifters who had grown bored with the same ole same ole. Upon birth, he was placed in the trunk of a new Stingray and sent off to find his destiny. That destiny included several stints on radio stations across the United States. Some played punk country gospel, while others focused on Croatian death metal played backwards. After many years and many adventures, Sean wound up on The Shark, where he does shots of tequila while playing the most badass tunes ever created by humankind. He remains humble, however, never forgetting about the lean years...the street corners and dark alleys where he played songs on his car stereo for food and sex. He's on top and he's never gonna stop LIVING THE DREAM!