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Report: Tampa Bay has nation’s third fastest growing housing market

Article From: http://www.tampabay.com/ By Times Staff Tampa Bay has the third fastest appreciating housing market in the country, part of a Southern real estate resurgence, according to home market tracker Zillow. Zillow estimated the average home value in the bay area at $181,200, up 11.9 percent from a year ago. That trails only Nashville and Portland among the 40 largest housing markets measured in the index released Thursday morning. The news dovetails with the Florida Realtors report Wednesday that showed prices for single-family homes in Tampa Bay jumped 11.4 percent in January, far higher than the statewide average and the highest...

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Tampa Bay now ranks third in the nation in house flipping

Article From: http://www.tampabay.com/ By Susan Taylor Martin, Times Senior Correspondent In the Tampa Bay area, there's a whole lot of flippin' going on. One out of every 10 homes sold in the second quarter of this year was a flip, RealtyTrac reported today. That's 13 percent more than a year earlier and enough to rank Tampa Bay third-highest nationally in flips — defined as any property bought and resold in an arms-length transaction in a 12-month period. "There are loads and loads of (flippers) out there,'' said Bruce Harris, a broker associate in St. Petersburg. "Most of them buy houses that...

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Tampa Bay home prices jump more than 14 percent in December

Article From: http://www.tampabay.com/ By Susan Taylor Martin, Times Senior Correspondent Tampa Bay home prices surged 14.4 percent in December for the biggest year-over-year gain of any major metro area in Florida. Continuing a trend that never slacked during the year, prices rose while the total number of sales lagged behind. For 2016 as a whole, "the key word was 'low' — as in, inventory levels,'' said Charles Richardson, regional senior vice president for Coldwell Banker. "Buyers showed strong interest and sales were up for the year versus 2015, but there simply weren't enough homes available on the market to meet demand.''...

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Rent in Tampa is getting more expensive faster than anywhere else in Florida, report says

Article From: http://www.tampabay.com/ By Susan Taylor Martin, Times Senior Correspondent Tampa rents are rising faster than in any other part of Florida, although they are still less than in several cities, including St. Petersburg. Over the past year, rental prices in Tampa have jumped 4 percent, almost double the national rate and almost four times the Florida rate, according to Apartmentlist.com. As of September, the median price for a two-bedroom Tampa apartment was $1,200, compared with $1,300 in St. Petersburg and $2,360 in Miami, the state's highest. One expert in multifamily rental housing said he's not surprised by Tampa's rent growth....

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Tampa is the second best city in the nation to invest in real estate, study finds

Article From: http://www.tampabay.com/ By Susan Taylor Martin, Times Senior Correspondent It has a hot, muggy climate, dangerous mosquitoes and a never-ending string of bizarre-o happenings. Still, Florida remains one of the nation's best places to invest in real estate, and Tampa is one of the best cities to invest in. That's according to GoBankingRates, which ranks Tampa second among the top 15 U.S. cities in which to own investment property. Orlando is first, Miami 10th and Jacksonville 13th, making Florida the only state with four cities on the list. "Growing populations in the top cities on our list are fueling the...

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See where nearly 4,000 apartments are planned in downtown Tampa (Interactive map)

Article From: http://www.tampabay.com/ By Ashley Gurbal Kritzer, Senior Reporter - Tampa Bay Business Journal To zoom in/out or pan around the map Use touchpad or scroll wheel on your mouse (Note: If you're using Google Chrome, set your browser to 100% by using the Command + or Command – keys) Project status key Under constructionLeasingProposed © 1987–2016 HERE | Terms of use Apartment development in downtown Tampa shows no signs of slowing any time soon. Two major projects took key steps forward this week. The developers of a 22-story tower in the Channel district announced an equity commitment of more than...

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TOP, BOTTOM CITIES FOR REAL ESTATE INVESTMENT

Article From: http://www.builderonline.com GoBankingRates: Florida cities lead the top, the Midwest snuggles into the bottom. And now, from GoBankingRates, Los Angeles, we have a new top-10, or 15, or whatever list, this one regarding the viability of investing in real estate. Among the top-10: Orlando, Tampa, Denver, Seattle, Austin, Reno, Dallas, Portland (Oregon), Raleigh and Miami. Among the bottom-10: Anchorage, Pittsburgh, Chicago, Virginia Beach, Cleveland, Honolulu, Detroit, Tulsa, Omaha and El Paso. GOBankingRates examined 61 out of the 100 most populous cities based on employment growth, or percent change in the city's number of employed people year-over-year; population growth: the percent...

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Jeff Vinik’s $1 billion plan for downtown Tampa finally revealed

Article From: http://www.tampabay.com/ By Jamal Thalji, Times Staff Director TAMPA — Roads that don't meet. An incomplete skyline. An empty crater at the heart of the city. For decades, downtown has been an unfinished work in progress. Jeff Vinik wants to fix that. The Tampa Bay Lighting owner on Wednesday rolled out his long-awaited $1 billion "vision plan" to build nearly 3 million square feet of development along the city's waterfront. "What we're doing is completing the plan city planners dreamed up long ago," Vinik told an approving throng of VIPs who gathered at his Tampa Marriott Waterside Hotel & Marina...

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Port Tampa Bay unveils $1.7 billion plan to develop 45 acres in Channel District

Article From: http://www.tampabay.com/ By Richard Danielson, Times Staff Write TAMPA — The land that Port Tampa Bay owns near downtown is now 45 acres of sun-beaten asphalt. But what could it be 15 years from now? How about $1.7 billion worth of apartments, hotels, offices and stores, with a bigger cruise ship terminal, one of Tampa's largest urban waterfront parks, a marina and two 75-story high-rises? If the port can pull off the project it unveiled Thursday, it would have a profound impact on downtown Tampa, raising a second billion-dollar development within sight of one being planned by Tampa Bay Lightning...

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Tampa Bay area among the largest economies in the U.S.

Article From: http://www.bizjournals.com/ By Chris Erickson, Tampa Bay Business Journal The Bureau of Economic Analysis has released its annual figures for gross domestic product by metropolitan statistical area, and the Tampa-St. Petersburg-Clearwater MSA had a GDP of more than $133 billion in 2015. This means the region is the 26th largest in the country and second only to Miami in the state. The North Port-Sarasota-Bradenton MSA ranked as the 91st largest with a GDP of $28.4 billion, and Lakeland-Winter Haven fell in at No. 124 with a GDP of $19.1 billion. When ranked by percentage growth, North Port-Sarasota-Bradenton fell well above...

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