the real estate market here in St. Petersburg Florida, is very very interesting. If you are a buyer or investor, it can not get any better. Lots of opportunities and great deals.
If you are a seller, well you have to realizes that prices are back to the 2002, 2003 level in most areas. Between Oct. 2005 and January 2008 my phone (and everybody else’s phone) has been dead. For the last 5 months or so it is ringing off the hook again. My company is a local, exclusive, independent brokerage here in St. Petersburg and we specialize in water front homes and condos along the beaches and Intracoastal Waterway. We mainly serve St. Pete Beach, Madeira beach, Treasure Island, Redington , Indian Rocks, Indian Shores, Gulfport, Seminole and Pasadena. It sounds like a huge area, but it is actually very small considering that these Islands are about 2 miles long or so. We have seen a lot of cash buyers this year and people who really take advantage of the low prices. So, to sum it up, we have seen the worst and the time to buy is NOW before all the deals are gone. Please keep in mind I can only speak for St. Petersburg. Other areas in Florida have not reached the bottom yet.