The Tampa real estate market could be your next big investment. If you do your homework and find a real estate agent that knows the Tampa market, you could be off to a good start. But, how can you get ahead of the curve and become a pro in the Tampa real estate market? Well, there are five ways to get started:
Be on the lookout for signs of a budding new area. The key here is to get in before the area becomes big. If you seeing new infrastructure projects or schools, that can be a pretty good sign that the area is growing. By investing in a growing area, you can become quite profitable. This also applies to new shopping malls that spring up. So, next time you are out for a drive to see if you there is new construction, lanes widening, or cleared land. Additionally, your real estate agent will be knowledgeable about any development in their neck of the woods.
- School Rankings
It’s pretty easy to find out school rankings. If you notice one school that is rising to the top of the list, you might start to see an influx of families that will want to move there. Lots of families move in order to be in a better school district. Plus, schools will usually be the first to tell you how well they rank in the state.
- Mortgage Pre-Approval
Get the upper hand by being pre-approved for a mortgage. One of the advantages to this is that most lenders will lock in your interest rate. So, if interest rates rise while you are out house hunting then you will be covered. Another reason why this is a big advantage is that it shows sellers you are serious. If you are already pre-approved, then sellers know that you are committed and will prefer to deal with you.
- Local Pricing
Always do your homework. Study the price trends in the area that you want to invest in. Take note if these trends are rising faster than in other areas. Also, check the average home price in the nearby areas. This should give you a good insight into where people are moving to.
- City or Town Outskirts
The general rule is that when cities or towns become too expensive to live in, the surrounding areas become the next best choice. This is even truer when these areas have easy access to public mass transit. A good way to research into these types of trends is to check with local planning boards, railroad companies, and bus companies. If a new line or route is being added, then chances have you found yourself a good spot.
Feel free to contact the Kelly Parks Team at (813) 579-2816 to speak with a realtor. Also, check out our blog for some more great tips. Let’s help you with your real estate needs!