ask the firemen

I think the firemen are the new real estate experts. I'm not sure why we ask ANYONE else even forbes. L O L !!!!!!!!!!!!!!!!!!!!!!!!


No. 1 spot to buy a house? Try Tampa Bay
That's according to Forbes magazine, which sees us bouncing back big.
By JAMES THORNER, Times Staff Writer
Published July 25, 2007


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The online edition of Forbes magazine, with help from business prognosticator Moody's Economy.com, touts the Tampa Bay area as the No. 1 place in the country to buy a house.

Come again? Aren't we supposed to be in the throes of housing agony?

Hear them out: Because of our area's overall strong, growing economy and comparably modest housing prices, Forbes calls Tampa-St.Petersburg-Clearwater a prime bounce-back market.

It predicts our area will experience what it calls a V-shaped recovery, where a market experiences a free fall, but rebounds strongly once it hits bottom.

Other regions will chart U-shaped or L-shaped courses. U-shaped recoveries are those in which prices fall slowly and recover gradually. Think Boston and Sacramento.

The L-shaped phenomenon is when prices plummet but remain mostly in a trough owing to underlying economic problems in the city. Think Detroit.

"While the Tampa market has yet to bottom out, the silver lining for buyers is that it is a highly resilient market," the article says.

"Most of the fallout in Tampa can be attributed to its high investor share, which is correctable given the good economic and job-growth projections."

To get on Forbes' top 10 list, a region needed an oversupply of real estate with plenty of sellers keen to strike a bargain. That's not all, though. Forbes also sought areas where prices wouldn't fall cataclysmically, so that buyers wouldn't be booking a fare on a sinking ship.

Based on Moody's figures, Tampa Bay home prices should bottom out in the first quarter of 2008, once the region burns off excess inventory from speculators who went hog wild in 2005.

Fast Facts:



Forbes' top 10

1. Tampa

2. Minneapolis

3. Miami

4. Kansas City

5. Chicago

6. Phoenix

7. San Diego

8. Milwaukee

9. New York City

10. Atlanta

[Last modified July 24, 2007, 23:42:23]



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Comments on this article by Richard 01/29/08 11:41 PM
Forbes got it right. I've been a REALTOR in Fl for 45 years and I've seen them come and go.
by Need Work 01/29/08 10:59 PM
Ok, so where are those jobs? (jobs that pay a living wage?)
by Barry 01/29/08 03:41 PM
Orlando, FL should be on this list
by taylor 01/29/08 12:47 PM
utterly ridiculous (as usual for forbes).
by Jason 01/29/08 12:02 PM
This Forbes story was written several months ago, before things went from bad to worse. Not exactly responsible journalism.
by Joshu Jones 01/29/08 11:25 AM
Gee Nick, I guess you missed the part about the whole problem being caused by investors.
by colleen 01/29/08 11:04 AM
I sold my house 14 mon. later, lost 75k I was just trying to retire.not a flipper. will the government bail me out I'll take 75k. home ins. ran me out of the state.
by Nick 01/29/08 10:23 AM
I bet they don't know how the State is about to screw all first time and new to the state home buyers
by Robert 01/29/08 08:46 AM
Are these the same analysts that said in 2005 that it would be a "soft landing" and prices would never decline?
by Joe 01/29/08 08:22 AM
I agree we are nearing a bounce back. Those of you who disagree and blame taxes, insurance, corrupt local govt - yes, but you're missing a key point that many investors are waiting in the wings to buy...I am one of them.
by Don 01/29/08 08:13 AM
ETRADE stock is going to FLY up in price soon. Buy all you can now or regret in the next month
by Debbie 01/29/08 08:02 AM
Ha ha ha! If you believe this article you are a fool. I can do the math too; the number of homes on the market far exceeds the number of buyers and will for years. And Flip, - I am neither ignorant nor uneducated - you meant "herd", not "heard".
by Jack 01/29/08 06:16 AM
As an investor, Tampa is my number one spot to start looking at deals. Forbes is right on. I have traveled many places and Tampa Bay is the most attractive outside of San Diego. Great potential and great deals to be found.
by Russ 01/29/08 02:07 AM
High cost of living? Tampa Bay? No way. It's comparitively more expense for seniors because they don't work. If you work... 90% of other states take State Income Tax. FL doesn't.
by dennis 08/25/07 10:58 AM
I am getting clients left and right who have changed their minds about moving here and instead are choosing Tennessee, SC, GA, NC and Virginia as alternatives. So everything is relative according to perspective and the spin placed on the perspective.
by David 08/18/07 12:00 PM
Mike, what is the point? Guessing at the growth is one thing; planning to accommodate is quite another.
by Mike 08/15/07 02:49 PM
Hillsborough Traffic Planners look down the road as population growth of ~400,000 and housing increase of ~100,000 is expected during the next 2 decades. Source: Ned Baier, Manager, Hillsborough South County Transportation Study. Do the math...
by Dennis 08/14/07 12:00 PM
Mostly whitewash. AARP does not list this area, most likely because of high cost of living, an overextended infrastructure (poorly planned overdevelopment) and the fact that absolutely NO planning was ever given to mass transportation.
by Anne 08/12/07 10:43 AM
It makes no sense to wait until another frenzy of home buying and inflated prices comes around. Jump off the bandwagon and buy now. If you are planning to stay in the home for more than a few years, the investment far out weighs the risk.
by Rita 07/30/07 02:49 PM
Wow, I hope you're all having a better day...Everything runs on some hype, vision, fact or fiction....I choose to believe our market will improve, history shows us that over & over. Not everyone will remain up North! They will retire in Florida.
by Anthony 07/29/07 05:46 PM
It is only a matter of time before people realize the amazing deals in Florida now, particularly Tampa. It is like buying stocks when they were at their lows back in 2003. In five years there will be some nice equity for those who invest now....
by Alvin 07/26/07 07:44 PM
between insurance and taxes we do not stand a chance, selling all my properties and moving out of doge, i just closed on 3400 sqare feet brick home 4 years old 153k value at 220k in dallas insurance $1100 and taxes 4k this home here i could not affor
by mark 07/26/07 07:16 PM
Forbes is just trying to help stimulate the market and convince investers to look down here. FOR THOSE OF US STILL LOOKING FOR A REASONABLY PRICED HOUSE THAT EQUATES TO OVER PRICING. I'll wait till early 2008 so prices drop another 20%.
by Shawn 07/26/07 05:57 PM
The area may bounce back but the job growth is lacking. If the report weighed heavily on job growth, retail and menial service oriented job growth is not going to bring new homeowners. No new owners, no new sales, no rebound.
by Lorrie727 07/26/07 03:19 PM
Terrific!! Good news that we all were waiting for!! Let's send it to everyone you know!!
by John 07/26/07 01:04 PM
This article is a joke. There's no way that the housing market will bounce back. You don't have to be an economist to see that. There were over 78,000 home foreclosures in the 2nd 1/4 of this year. We're on track to have more than that this 1/4.
by Kevin 07/26/07 11:10 AM
I have a really nice house over in Wesley Chapel as well. Please send these buyers my way.
by Trish 07/26/07 10:46 AM
Looking at the list,overcrowding, poor planning, & inept local gov't is a common thread. Tampa qualifies.
by Teresa 07/26/07 07:32 AM
HUH? Who knew who at Fobes, but lets just say quickly without getting into the stories of the thousands moving out of Florida that that article was pushed by some motive as many articles are. I just read nowhere in Fla made the top 20 places to live!
by Doe 07/25/07 11:51 PM
I can dream, can't I? Does the writer want to buy?
by Flip 07/25/07 10:05 PM
Follow the heard like the rest of the mindless potential homebuyers scared off by articles written by ignorant, negative, uneducated, inexperienced writers. Rent, try to time the market. Good luck and stay poor. Now is a great time to buy.
by lola 07/25/07 08:57 PM
Forbes actually published this a month ago, based on high inventories and low sales rates. The message to homesellers in the area is--know your market! For buyers: yes, the time is now to buy!
by Jeff 07/25/07 05:25 PM
Ed, do not worry Westchase is one of the strongest areas for real estate right now, if you have an expensive home it will see just be patient. Remember that homes over 400k always take longer to sell even in really good markets.
by elizabeth 07/25/07 05:13 PM
Guys, move 2 Cleve.OH for 2 yrs & your opinion will be different. A $167k property on a 1/4 acre costs $3900 taxes & $900 insurance a year 8.5% of $75k salary for income taxes. The only jobs avail are those that allocate my $11k to the unemployed.
by Mark 07/25/07 04:30 PM
Finally some positive news and you still don't stop complaining. If you don't like it, MOVE! Kevin and roy, you sounds like whiny little girls.
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