Florida
Florida’s Largest Home Show helps potential home-sellers stand out in competitive market
Sellers navigating shift in housing market
Aaron Mesmer studies
TAMPA, Fla. – Florida’s Largest House Present wrapped up Monday following a weekend through which dozens of distributors packed into the Expo Corridor on the Florida State Fairgrounds.
The occasion was additionally an opportunity for potential home-sellers to determine tips on how to make their properties stand out in an more and more aggressive market.
“That is what’s nice a few residence present is that you’ve got trade specialists [right here],” mentioned Brian Santos, a portray contractor who’s often known as “The Wall Wizard.” “That is what’s nice a few residence exhibits which you could meet and greet the individuals which might be to be in your house.”
Noah Wealthy, with Tomlin St Cyr Actual Property Companies, mentioned the Tampa Bay housing market is seeing a big enhance in stock over the previous couple of months, however not ranges like they have been pre-COVID.
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“Rates of interest are undoubtedly a giant issue,” Wealthy mentioned. “We’re simply over 6% for standard residence loans. Additionally, I believe simply all of the information tales about recessions coming, and it is form of scaring a number of the consumers and slowing the housing market down.”
With the market extra aggressive, distributors on the House Present discovered themselves giving recommendations on tips on how to make houses stand out.
“Lots of people need to increase the worth of their residence earlier than they promote it to get as a lot as they will out of it,” mentioned Xiara Leon, a designer with Flooring and Decor in St. Petersburg who was on the House Present. “Quite a lot of older houses could have 5 totally different sorts of tiles. You have got one tile within the lavatory, one tile within the kitchen, one tile within the lobby, after which three totally different laminates. So a whole lot of instances, one of many first issues that individuals need to do is…getting all these totally different floorings out and placing in a single similar flooring all all through the house, apart from possibly the loos.”
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In accordance with Realtor.com, residence costs nationally are additionally declining, fueled largely by rising rates of interest.
Wealthy mentioned the Tampa Bay housing market seems to nonetheless be in a pricing bubble.
“Over this subsequent yr, I believe we’ll see a 4-5% enhance in residence costs, the place the earlier two years we have seen 20% yr over yr,” he mentioned. “I do not assume we’re seeing them go down. I believe we’re simply seeing them stage off.”
Wealthy added, as a result of houses are staying available on the market longer, potential first-time residence consumers are having higher alternatives making presents on houses.