Tampa Real Estate Agents Predict Real Estate Recovery For 2009

Many Tampa real estate agents are predicting that once the federal stimulus being created by lawmakers and aggressive action by the Federal Reserve kicks in, the economy is likely to improve.  According to the National Association of Realtors, existing home sales have slowed across the country in many small communities, however many states are holding their own.  There will only be a matter of time says the NAR before rising prices in home sales spur on the market.

While sales and median prices have dropped – across the country, the continuing decline in excess inventory is an encouraging sign to many in the real estate industry.  Interest rates are already at an all time near historical low and could go even lower in the months to come.

 No matter which side of the political fence you fall on, it is a given that our country cannot be fixed without first fixing the housing market sector.  Possibly the most important ingredient for 2009 real estate correction is the fact that real estate makes up 20 percent of the Gross Domestic Product in this country.

There are a few important indicators that point to a real estate recovery for 2009.

-          improving affordability – according to recent statistics from the National Association of Home Builders, housing is becoming increasingly affordable

-          government intervention – President Obama and his economic team are in the      process of developing an economic recovery plan designed to help both Main Street and Wall Street with an ultimate goal of producing at least 2.5 million jobs while rebuilding the infrastructure, improving the schools,  reducing our dependence on oil and all the while saving billions of dollars.

-          slowing of distressed property – the timing of our price recovery may depend on how quickly the government takes steps to mitigate foreclosures

Realtors Tampa, Florida realize that dropping the national interest rates is a major assistance in the battle to help Americans purchase new homes or stay in the homes they already own. 

Much of the real estate prognosis is dependent on the state of the financial system in general and the real estate situation in particular.