The coronavirus pandemic has caused homeowners around the country to rethink the future of their property. As the economic hurdles put in place by COVID-19 deepen, home sales continue to flourish in rural areas as residents leave over-crowded cities behind. Whether the coronavirus continues to present itself as the problem it is today or not, it is clear that property owners are becoming aware of the flaws of big-city living. From the heart of Miami to the comfort of Tampa, let’s take a closer look at why Floridians are heading rural luxury homes in Tampa.
First and foremost, living in the city can become quite stressful and financially difficult in the best of situations. Compound the current coronavirus pandemic with the corresponding economic damage and it is easy to see why homeowners are looking to reduce expenses. COVID-19 has also put how businesses operate under the microscope, showing the benefits that remote work can provide when traditional office spaces are not in use. With this increasingly decentralized corporate structure, it makes sense that employees are no longer being forced by employers to share the same city for their job operations.
In addition to the aforementioned reasons, residents from the big cities of Florida have been looking to Tampa for years. In fact, we can see this trend tracked all the way to New York where more than 100 people have been leaving the city every single day, many to Florida. Tampa Bay is heralded for its luxurious coastline, wonderful shopping, and delicious food. As one of the top ten destinations in the state for house-hunting, there are plenty of reasons to consider Tampa for a future home.
According to a report released by the National Association of Realtors in May, a 44.3% increase in pending home sales occurred during the month of May. This corresponds with the high demand that Tampa Bay has been seeing for its more luxurious high-end homes, with many sales conducted before they even reach the market.
There have also been favorable market conditions in Tampa that have helped the sale of high-end homes, including a reduction in Mortgage rates. Mortgage rates have dropped to just over 3.03$% at the time of this writing, sitting nearly 2% lower than the rates were 18 months prior. As certain conditions work together to craft a spike in sales in Tampa, certain companies are stepping up to get the job done. Leading the charge in luxury home sales in Tampa Bay is Tampa Homestyles.
Tampa Homestyles is a real estate company founded by Jaime Brown. Brown has been working in the real estate industry surrounding Tampa for over twelve years. A major in Decision Management and Information Sciences at the University of Florida, Jaime has worked with clients ranging from commercial gym owners and luxurious manors to corporate offices and commercial real estate listings.
The team at Tampa Homestyles can attest to the recent boom in luxury real estate sales in Tampa, having made a splash with a $6.4 million waterfront mansion sale. The home was registered as the highest price ever to be paid for a spec home in Tampa. As a vital part of Tampa’s economy, speculative luxury homes are projects featuring investors, stakeholders, and builders working together to craft a property before a buyer ever appears.
For individuals looking to purchase a luxury home in Tampa, Tampa Homestyles has adjusted to the climate surrounding COVID-19 to offer safe and comprehensive real estate support. From virtual walk-throughs to socially distanced in-person tours, Tampa Homestyles has cultivated a market for eager buyers looking to take advantage of the real estate possibilities.