House Flipping Plunges In Tampa Bay

Published On: September 11, 2018|Categories: Hillsborough County, Pasco County, Pinellas County, Uncategorized|Tags: investment properties in Tampa, Tampa house flipping, Tampa real estate market|

House flipping percentages plunged 18 percent down to just 7.2 percent of all home sales in Tampa Bay this year. This figure is the analysis from the second quarter of the year when compared to the same period last year, according to ATTOM Data Solutions.

House flipping is the term to describe when a home sells twice in 12 months, and is done for the purpose of investing. Pasco County had the highest percentage of flips in the state with 8.3 percent of all sales being house flipping sales. This figure brought Pasco county to a national ranking of 50th among all counties nationally.

Hillsborough was much lower and had a national ranking of 89th. Only 7.2 percent of sales were flips. Of Pinellas County home sales, only 6.5 percent of the sales were from house flipping. These figures are still way above the national average, so home buyers in Tampa Bay should find some comfort in these figures dropping, because less house flipping sometimes means less competition. Still, the reason for the decline in flipping is that rising interest rates are fewer potential buyers, because of rising interest rates.

So, potential home buyers should act swiftly before we see another rise in interest rates.

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This beautiful pool home with a fully fenced back yard is situated on a large 65x147.22 (9,569 sq ft) homesite with a wooded view and a desirable floor plan that boasts 4 bedrooms + movie room, 3 full bathrooms, and a 3 car garage. Some of the many updates/features include: custom built-in shelving in all closets, wood shelves in 3 linen closets & kitchen pantry, dinette area benches with storage, 5.25” baseboards, 8’ doors, motion lighting in all bathrooms, closets, & laundry room, updated faucets & shower heads, newer fans and light fixtures inside & out, Govee permanent outdoor eave lighting, water softener, reverse osmosis system, fire pit, and so much more!! Enjoy dining alfresco under the large covered & screened lanai with rolled sunshades overlooking the pool and large back yard with a lush wooded view, fire pit, large pool umbrella, and a slide. The kitchen features stainless steel appliances, quartz counters, custom tile backsplash, shaker style cabinets with modern hardware, large pantry, dinette area, and a huge island with seating that overlooks the spacious family room with views of the pool. The movie room is located off the dinette area and has a projector, built-in surround sound, screen, and receiver that will stay. Movie room can also be a den/office, play/game room, or home gym…the options are endless! The primary bedroom suite has plenty of room for a king size bed, views of the back yard, a large walk-in closet with custom built-ins, and an attached bath with dual vanities, linen closet, a large walk-in shower, & separate water closet. The secondary bedrooms are spacious and the laundry room has a large cabinet and shelving for additional storage. The formal dining & living area is currently being used as a home gym and the barn door provides privacy for the guest bedroom & bathroom suite located near the front door. The garage has ceiling mounted storage racks, wall paneling with hooks & organizers, mounted TV, and hurricane shutters that will stay. Located in South Fork with a community pool, playground, basketball court, fitness trails, park, and more!

$550,000 Active

11931 Sunburst Marble Road Riverview, Florida

4 Beds 3 Baths 2,667 SqFt 0.220 Acres

LOCATION, LOCATION, LOCATION!! Spacious 3 bedroom POOL home in great location! The main living area is open & spacious featuring high ceilings and views to the private in-ground pool. The UPDATED kitchen overlooks the living with GRANITE COUNTERS, STAINLESS STEEL APPLIANCES & massive single-basin sink. The master suite has access to the pool patio, an en-suite bathroom with updated vanity, WALK-IN SHOWER and WALK-IN CLOSET. The secondary bedrooms are located on the other side of the house & share the 2nd full bathroom. The COMPLETELY FENCED backyard offers lots of privacy to enjoy the pool, covered patio & open yard area. This location is great with top-rated schools, plenty of shopping & restaurants, along with easy access to Tampa, I-75 & the Expressway. LAWN & POOL SERVICE INCLUDED!! **Small pets with owner approval. **AVAILABLE NOW!!

$2,600 Active

1436 Osprey Lane Lutz, Florida

3 Beds 2 Baths 1,229 SqFt 0.170 Acres

Welcome to the elegant Bayshore Regency Condominium where privacy, dignity, and security are well respected. With only two condos per floor, it's almost like you have your own private elevator. The elevator takes you directly to your condo's foyer leading into your unit. No one can enter and/or use the elevator (up to your condo) without your permission/your alerting security in advance. Great security and privacy with the 24-hour concierge and duty guard. It's a well-deserved lifestyle in this beautifully well-cared-for condominium. This gorgeous traditional style condominium is situated on the 18th floor, below the penthouse. The views are beyond amazing and you're high enough above the traffic for added peace and quiet inside your home, unlike some lower-level units along the Bayshore. Also, with this particular condo, there are no 'as tall' buildings in immediate proximity blocking your panoramic views and/or other property owners compromising your privacy. This very spacious condominium boasts many classic features and upgrades; for instance, a traditional style woodburning fireplace (love the mantle), tasteful crown moldings, beautiful wood floors, quality wood built-ins, tall ceilings, spacious master bedroom with private balcony, walk-in closets, and a well appointed bathroom, a large shower, the spacious well-thought-out kitchen design boasts plenty of granite counter space and an abundance of cabinet space. The kitchen overlooks the eat-in area and family room. This unit features 5 balconies; and breathtaking panoramic views from the Hillsborough Bay, all the way around to Old Tampa Bay in the distance to the west; entertaining or just enjoying the incredible views from almost every room is amazing! Beautiful daytime views of the Hillsborough Bay, all the greenery on Bayshore; there are so many oak trees blanketing South Tampa, such a beautiful sight. At night the views are just as breathtaking; lit-up bridges crossing Old Tampa Bay to the west, downtown is amazing! Bayshore Boulevard is one of the most impressive and relaxing drives in the Tampa Bay area. Bayshore Boulevard offers one of the longest unbroken sidewalks in the country... making after dinner walks convenient, enjoyable, healthy, love the evening fresh air. This condo comes with two conveniently located private parking spaces (very close to your elevator entrance). Makes life a lot easier in many ways... groceries, proximity to getting into your car; the parking spaces are contiguous (no worries about parking lot dings). A private storage closet is included. Additional updates with this condo include, a newer split CHA system, new water-heater, hurricane shutters, just a well-kept condo unit. Additional amenities include an equipped gym, ping-pong/pool table, social areas, meeting areas (with catering kitchen), a spacious nicely furnished clubhouse featuring a very nice kitchen and open and covered outdoor deck areas (great for parties), tennis/pickleball court, beautiful pool and spa (spacious layout sundeck). The 'same-level/floor' commercial entry area features built-in storage cabinetry, the garbage shoot, and freight elevator. The condominium association with on-site management is active and does a thorough job maintaining this building... it is a great condominium choice for the BEST in Florida living. You will not be disappointed.

$1,350,000 Active

3435 Bayshore Boulevard 1801S Tampa, Florida

2 Beds 3 Baths 2,442 SqFt

Come and see this top floor unit where you will never hear footsteps again. This is right across from the golf course and there is a slight view. This unit needs a bit of work and the shower needs to be replaced as the pan leaks.
You can golf every day at no added cost on the 27-hole course. There are many amenities in this community including 2 pools, a lake where you can kayak with the gators and an active clubhouse with many planned activities. 55+, large pets are OK and the land is leased.

$164,900 Active

2362 Jamaican Street 52 Clearwater, Florida

2 Beds 2 Baths 1,100 SqFt

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THINKING OF SELLING YOUR TAMPA BAY AREA HOME?

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