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Article #52: Tampa Bay Real Estate Bubble Burst? Unlikely

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






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