Throughout the national foreclosure crisis, it seemed like nowhere was the problem worse than in Tampa. Yet, local housing market expert Scott Fitzgerald, working as a mortgage broker for 18 years, has more than weathered this storm.
Fitzgerald, a 22-year resident of Tampa himself, has and continues to develop a significant following in the national mortgage industry as well as the regional Tampa Bay housing market.
Now, as CNN Money just ranked Tampa as the 6th hottest housing market in the country, Fitzgerald sees opportunities for professionals and consumers alike on all sides of the market.
“Being in this market through the real estate explosion in the early 2000’s, and then through the particularly down times during and following the 2008 recession, we’ve seen how volatile housing can get. I’ve seen people make very deft, shrewd decisions, and then countless others literally lose the shirts off their backs.”
“The key to this business is picking the right partners, and understanding the importance of exactly what they provide – market intelligence and strategic insight. So, looking at such a positive as the Tampa market rebounding and being rated 6th hottest in the country, well, that’s just the proverbial gong sounding that opportunities abound,” noted Fitgerald, who himself is not only a market expert but an avid real estate investor with several properties throughout the Tampa Bay area.
The Tampa Bay Business Journal and the Greater Tampa Chamber of Commerce have both echoed similar sentiments, with Chamber CEO Bob Rohrlack noting that employers such as Bristol Myers opening new offices only indicates positive signs for the overall regional economy.
Additionally, the Greater Tampa Association of Realtors (GSTAR) recently released highly favorable home sales numbers noting that while the average January 2014 sale price rose over 30% above the post-crash low in January 2011, the even greater indicator of the improving housing market is that total residential sales in January 2014 were down 36% from their post-crash high in just under a year (May 2013).
“This means that rather than cutting bait, homeowners and investors are retaining their properties because they see their value increasing rather than decreasing. Demand, not worry, again dictates the market,” said Fitzgerald.
Tampa home prices are expected to rise 8% in 2014, and Fitzgerald realizes that this statistic from industry analyst CoreLogic is a clear sign that as the market continues to rebound, “consumers and prospective investors alike need to realize that partnering with an experienced and reputable industry expert will set you up for long-term, sustainable housing investment success.”
To learn more about the Tampa Housing Market, please contact Scott Fitzgerald at 813-294-7595 or email at scott@mortgageam.com.