Consumer Confidence Rising

On February 28, the Conference Board’s Consumer Confidence Index, which had decreased in January, announced an increase of 9.3 points in February. The Index now stands at 70.8 (1985=100), up from 61.5 in January. The Present Situation Index increased to 45.0 from 38.8. The Expectations Index rose to 88.0 from 76.7 in January.

According to Gallup's Economic Confidence Rating, confidence has been improving steadily over the past five months and is continuing that monthly trend during February. The stable nature of confidence in recent weeks suggests that surging gas prices have yet to dramatically affect Americans' perceptions of the national economy.

The proportion of consumers expecting business conditions to improve over the next six months increased to 18.7 percent from 16.7 percent, while those anticipating business conditions will worsen decreased to 11.8 percent from 14.6 percent. The PURTEE Team, with Realty Executives, keeps you informed about the emerging real estate market along the beaches of Tampa Bay and how to best navigate the buying or selling process. Contact Us Today: info@floridagulfproperty.com

Inventory At Record Lows - Sign Up For Monthly Updates To Stay Informed!

The PURTEE Team keeps their clients informed about the Tampa Bay beach real estate market with informative monthly updates via their email list. These updates include the current statistics on Absorption (inventory turnover), Condo and Single Family Home Active Listings Inventory & Sales.

In order to navigate this recovering market, buyers and sellers need to be informed. Real estate is not the same from county to county across the country... it is very much localized. The worst thing we are seeing is buyers who think they are more knowledgeable about the market and where it is headed. They often do not listen nor do they look at the facts or trends... these are the buyers who will miss the opportunities that exist here on the water in Florida TODAY!

Take a look at the chart above in regards to inventory being absorbed. 2008 was even worse, but look at the trend since February 2011! Look again at the start we had in March to June 2010. What happened there??? The Gulf oil spill happened which halted that momentum. However, we have been in double digit absorption for a year. Inventory is at record low levels... and the trend of moving to Florida has picked up again, primarily due to its affordability.

If you are interested in learning more about the Tampa Bay beach real estate market, join our monthly update email list. It is easy. Just us our CONTACT US ez form to send us your email and start getting information this month! Just tell us you want to be on the email list in the notes section. You, too, can own your piece of paradise and enjoy the Florida lifestyle that we all love so much!

Tampa Bay Beaches Continues Decline In Active Real Estate Listings

Click Here To Enlarge Chart
We continue to talk about inventory here along the beaches of Tampa Bay. January 2012 has continued the trend of dwindling real estate that is actively for sale. The chart at left represents the entire Pinellas County inventory! Active inventory is down 31% from last January with 3,672 fewer listings. Foreclosures alone are down 56% from last January!

According to the Pinellas Board of Realtors, there are fewer than 2 houses for sale for each buyer actively looking in the market. On the other hand, pending contracts were up 22% in January from this time last year. We will be talking about other market statistics in the days to come, but this trend is here in realty... right now. The PURTEE Team monitors the market and its evolving trends. You can sign up to get their monthly updates by sending your email address to info@floridagulfproperty.com

Retirement On The Horizon? Florida-Bound!

78 million 'baby boomers' begin their approach to retirement this year when those born in 1946/47 turn 65 and start qualifying for Social Security benefits. In 2003 and 2004, over 1000 people were moving to Florida a day! Builders were struggling to keep up with the demand. However, that process slowed dramatically as a result of increased property costs, insurance and the economic downturn.

As this determined generation gets back on its feet and once again looks toward retirement, Florida is returns as a top destination with its current depressed prices, no state income tax, pleasant climate, recreational and cultural activities and excellent senior care.

Tampa Bay offers the three dynamic cities of Tampa, St Petersburg and Clearwater... with the eclectic 23 miles of sandy white beaches and diverse beach communities. According to a recent survey, 58% of relocating baby boomers plan to purchase a home or condo in their destination city. So where are these seniors going to go??? Home building virtually stopped in 2007. Inventory has dried up back to 2005 levels. Very few building permits are even being pulled because building new can't be done at the prices we are at right now. So with no new building on the horizon, what will this mean for the retiring senior planning to come to this area in 4-5 years? It means start looking NOW while there are still some of these incredible value deals! Who can you trust to help you through this process? The PURTEE Team specializes is real estate along the beaches of Tampa Bay. With a diverse background or business, financial planning, negotiation, construction and design, Mark, Garges, Lambdin and Kathy are ready to help. Find out what they can do for you to get you on your way to living the "Florida Lifestyle". Read the article...