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Tampa Bay Real Estate Bubble Burst? Unlikely

With property prices seemingly on the riseTampa Bay. The superb beaches, the night life
and rising quickly in Tampa, there is a lotopportunities, golf and other sporting
of talk about a real estate bubble in the USopportunities whether playing or being a
and dire predictions that the so-calledspectator, the theme parks and adventure
bubble could burst, leading to a lack ofworlds, Disney, of course - and the many
confidence on the part of investors andareas of unspoiled beauty. And, if anything,
people seeking a second home. But while thisthis annual visitation is set to increase
talk of a bubble may be true in some parts ofagain as the Super Bowl comes to Tampa in
America, it isn't justified in Florida,2009. This will be the fourth Super Bowl to
particularly in the Tampa Bay and Clearwaterbe held in Tampa. This has a dramatic effect
areas.on  our  area's  prosperity.
Florida as a whole is enjoying a rise inThe increasing economic prosperity also makes
property prices which promises to be a longFlorida in general and Tampa Bay in
term  trend. There are many reasons for this.particular a good place to find a job or
start a business. In 2004, Florida was ranked
Demand for real estate in Florida is#2 as one of the best places in America for
increasing. Homes are being bought forstart-ups. More and more companies are also
various reasons. Both American and Europeanrelocating their headquarters to Tampa, as
holiday makers view Florida as a premierwell. Tampa is now being called the "Gateway
summer holiday location and flock there eachto the Florida High Tech Corridor", because
summer and historical evidence suggests thatcompanies are being offered a matching grant
this figure is rising sharply and is having aprogram that has generated more than $120
major economic impact on the region accordingmillion in applied research. 225 companies
to  VISIT  FLORIDA  research.have  already  taken  advantage  of  this.
Historic  Visitor  Numbers  (in  Millions)The area has relatively low real estate
prices and a lower cost of living and higher
Year Totalemployment statistics compared to the rest of
Florida and to other states in America,
1999 58.9despite recent increases. The median value
for a home in Florida was $189,500 last year,
2000 72.8significantly less than similar homes in
California where the median home value was
2001 69.5$474,370. (Source: ). In Tampa Bay, it was
less  again.
2002 73.9
Florida, including Tampa, also enjoys the
2003 74.6advantage of having slightly more favorable
property taxes compared with other parts of
2004 79.7the US, no state income tax and better car
insurance rates. The education system has
Historic  Economic  Impactundergone considerable improvement over the
past number of years. And the Tampa area also
Total  Tourism  Spending  1999-2004:has some of the best commute to work times in
the  country.
1999  -  $44.6  billion
Tampa Bay is perhaps the ideal place not just
2000  -  $48.5  billionfor the baby boomer buying a second house or
holiday home, nor just for the property
2001  -  $48.6  billioninvestor seeking to increase their footprint
in the holiday rental market, but also for
2002  -  $49.5  billionpeople starting out in life or those seeking
a  retirement  home.
2003  -  $51.5  billion
There have been several new developments in
2004  -  $57.0  billionTampa Bay Florida real estate and Clearwater
Beach real estate holdings; the plans for
Total State Sales Tax Revenues from Tourismdeveloping downtown Tampa, especially the
1999-2004:Rivergate area, are potentially very exciting
indeed, according to recent articles in the
1999  -  $2.7  billionTampa  Bay  Business  Journal.
2000  -  $2.9  billionIn short, Florida as an area for either
relocation, investment or a second home is
2001  -  $2.9  billioncurrently one of the most attractive in
America and likely to remain so for some
2002  -  $3.0  billiontime. Due to the recent economic pressure on
the US as a whole there might be a slight
2003  -  $3.0  billionslow down in terms of escalating appreciation
but Florida remains a great place to come and
2004  -  $3.4  billiona great place to invest, especially Tampa Bay
real estate and Clearwater Bay real estate,
Number of Persons Directly Employed bywhich are right in the heart of the potential
Tourism  Industry  1999-2004:growth  areas.
1999  -  826,200No bubbles bursting here, just opportunities
galore!
2000  -  842,900
Bob Lipply is a licensed broker associate
2001  -  864,500with  Remax  Realtec in Palm Harbor, Florida.
2002  -  862,900He has many years of experience in selling
Tampa
2003  -  871,000
Bay Florida Real Estate and has helped many
2004  -  912,700families relocate to Florida andfind their
dream homes. Visit his website at contact
This growth in visitors is due to Florida'shim direct at 1-888-423-5775.
many attractions, many of which are near to



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