Neighboring Property Values Up 20 Percent
From the Tampa Tribune:
TAMPA - Property values rose to unprecedented levels this year in Hillsborough County, setting a record for the biggest single-year leap in taxable property dollar-value in the county's history.
Values for homes and businesses rose an average of about 20 percent compared with last year. Traditionally, yearly increases have been closer to 8 percent.
"It's just amazing," said Tim Wilmath, Hillsborough County property appraiser's director of valuation.
Experts attribute the increase to this year's hot real estate market, spurred in part by low interest rates.
(Read more at http://www.tbo.com/news/metro/MGBX4J1G3PE.html?imw=Y )
Some buyers in the Sarasota - Bradenton market are a little nervous about the rapid appreciation rate over the last few years. One buyer wrote in a recent blog that he was going to rent and wait for prices to pull back 35 - 40 percent. Is such an attitude realistic? I doubt it. This area has good job growth and a strong economy which has fueled the recent buyer demand.
TAMPA - Property values rose to unprecedented levels this year in Hillsborough County, setting a record for the biggest single-year leap in taxable property dollar-value in the county's history.
Values for homes and businesses rose an average of about 20 percent compared with last year. Traditionally, yearly increases have been closer to 8 percent.
"It's just amazing," said Tim Wilmath, Hillsborough County property appraiser's director of valuation.
Experts attribute the increase to this year's hot real estate market, spurred in part by low interest rates.
(Read more at http://www.tbo.com/news/metro/MGBX4J1G3PE.html?imw=Y )
Some buyers in the Sarasota - Bradenton market are a little nervous about the rapid appreciation rate over the last few years. One buyer wrote in a recent blog that he was going to rent and wait for prices to pull back 35 - 40 percent. Is such an attitude realistic? I doubt it. This area has good job growth and a strong economy which has fueled the recent buyer demand.
posted by Dan Forbes at
11:40 AM
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