Many homeless families will be happy to hear that Tampa Property prices have stopped falling drastically. Property values have been on a downward pspiral since the beginning of 2008 to 2010. The market watchers have been slow to warn the home owners due to their own self interest or a large denial factor that hindered their professional judgement. The same experts have changed their tune about property since mid-2009 and this lead to the accelerated price drop when speculators cut their losses.
This lead to the worst part of the property cycle, when families loose the equity values in their homes faster than ever before.
From 2009 to 2010 everybody is so against property that even those who are lucky enough to own their homes do not even know how to bring up the subject of selling with their Realtor. This makes up the bottoming out phase of the cycle. People call this rock bottom.
The pre-growth phase is found between rock bottom and the growth phase. It is the small window of opportunity for investors and homeless families to start over with cheaper property purchases. This phase is normally two to three years long and it can easily be mistaken for the pre-bottoming out phase when the prices look like they will recover but they drop even further and faster.
There are some individual properies that will not sell because the owners do not do enough research about how to price their beloved home to sell. Doing proper research will really help the prospective seller to understand the true value of their property.
Tampa Property is largely prime property, especially in the Northern suburbs. Cities have a tendency to expand northward. This is a phenomenon that is encouraged by town planners and is built into human DNA. The coastal areas change this phenomenon by a small margin but not by much.
How does this help the homeless in Tampa?
Investing in Tampa real estate is the only way people will be able to give financial institutions the excuse to lower lending criterion. Lending criterion are based on successful property purchases in the area. People selling have to do good research and price to sell. The homeless are not necessarily unemployed, infact they tend to live in their cars or with family while having two or three jobs to get back on their feet.
Properties priced well will be great bargains for the homeless families that have learned the art of saving. Buying in such a market at below market value will slowly start to bear fruit in about three to five years time when the true growth phase hits.
www.TampaProperty.co is dedicated to analyzing and providing free information in regard to property investments in Tampa, Florida USA.