Hispanics to Make Up Half of New Buyers by 2020

Some housing experts say a “mega-boom in home ownership” is brewing as Hispanic Americans look to join in home ownership. Indeed, Movoto, a real estate brokerage in San Mateo, Calif., predicts Hispanics will make up half of new home buyers nationwide by 2020.

The growtin in that time frame is expected to be big, considerint that currently 75 percent of first-time home buyers are white and only 11 percent are Hispanic.

But observers say that with Hispanics' birth rates and purchasing power drastically increasing, Hispanics are expected to be a powerful force in real estate in the coming years.

More than half of all infants born in the United Sates last year were minorities or multiracial, according to U.S. Census data. Hispanics account for 8.9 births for every death, while whites have 1.1 births for every death. The Hispanic population in the United States has more than tripled between 1980 and 2010, according to the National Association of Hispanic Real Estate Professionals’ data. "In veneral, Hispanics hold fast to the American dream," states a recent article at Forbes.com. “According to national housing surveys, despite worries over jobs and the economy, they are more eager to become home owners for both emotional and financial reasons.” 

Source: "American Dream: Hispanic Home Buyers on the Rise," Forbes (May 31, 2012)

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Tampa Bay and Florida Home Prices Rise

According to an article by Mark Puente of the Tampa Bay Times, home prices rose last month in Tampa Bay and the rest of the country. The median price of single-family homes in the bay area jumped more than 8 percent from $120,000 in April 2011 to $130,000 last month, according to My Florida Regional MLS data. The bay area recorded 2,566 sales last month, compared with 2,519 in April 2011.

The price bump could offer hope to sellers who have been waiting for increases before listing their homes for sale.

So does that mean housing woes are finally in the rearview mirror?

"The first quarter has been incredible," said Nick Fraser, owner of Re/Max All Star in Madeira Beach. "Buyers realize they can't beat up sellers anymore over prices. The market has definitely leveled out."

The median price of conventional sales also rose in Tampa Bay from $157,000 in April 2011 to $165,300 last month.

Investors have dominated the market the past 18 months but are now raising their offers to compete with other buyers who are chasing affordable homes. Currently, supply is down, and demand is up for single-family homes. The supply has dropped to almost four months in Hillsborough and Pinellas counties.

The inventory also keeps falling throughout the Sunshine State.

In April, Florida had a 5.8-month supply of single-family homes and a 5.7-month supply for condos. A supply of six months is considered a normal market.

Statewide, prices rose as sales remained nearly flat when compared to April 2011. The median price rose 10.2 percent to $144,350. The sales of 17,544 houses last month dropped 0.7 percent, according to the Florida Realtors.

"The housing numbers for the state of Florida continue to signal recovery," said John Tuccillo, Florida

Realtors chief economist.

Nationally, the median price for an existing home was $177,400 in April, up 10.1 percent from a year before, according to the National Association of Realtors. March and April marked the first two-month increase in nationwide prices since mid 2010, the group said.

Lawrence Yun, chief economist for the group, said the housing situation has shifted from a buyer's market to a seller's market as the inventory of homes drops. He pointed out that it's no longer only the investors taking advantage of affordable prices.

"A return of normal home buying for occupancy is helping home sales across all price points, and now the recovery appears to be extending to home prices," he said.

For a copy of the article, please go to http://www.tampabay.com/news/business/realestate/tampa-bay-and-florida-home-prices-rise/1231378

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Clearwater, Florida, Visitor Guide

Check out the Clearwater, Florida, Visitor Guide. It's full of information about what's happening in the Tampa Bay area, along with fun things to do while here!

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Homes in Tampa and the Tampa Bay real estate market

Homes in Tampa and the Tampa Bay real estate market encompass a tri-city region, which includes Tampa Florida, Clearwater, and St. Petersburg. There are many diverse homes, including beautiful beach homes for sale, in the Tampa Bay real estate market, giving you many options to find the right fit for you and your family. The beautiful weather allows for outdoor recreation, regular visits to the sugary-white beaches, and the ability to wear flip flops year-round.  You can search for homes in Tampa at http://www.nextagegatewayrealty.com/

Families have plenty of entertainment choices in the Tampa Bay area. Busch Gardens Amusement Park, The Florida Aquarium, Carnival Cruise boat docks, and the Lowry Park Zoo - rated by Parent’s Magazine as the top zoo in the United States, are just a few family-friendly options. Disney World and the greater Orlando area are just an hour's drive away. Professional sports are also very popular in the Tampa Bay area, with the NFL's Tampa Bay Buccaneers, the NHL's Tampa Bay Lightning, and MLB's Tampa Bay Rays all located within in a 20-mile radius. Golf also attracts many people to the Tampa Bay area. With year-round access to the professional Innisbrook Resort, The Champions Club, and a bevy of beautifully manicured courses throughout the area, golfers are drawn to Tampa Bay for their love of the game.

The Tampa Bay school system includes highly regarded Magnet, Gifted, and International Baccalaureate programs. Local higher education includes The University of South Florida, located in Tampa, Hillsborough Community College, and St. Petersburg College, allowing Florida residents high quality, affordable education options.

Homes in Tampa and the Tampa Bay real estate market offer many options for those looking for the perfect place to call home!

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