According to new predictions from Zillow, Tampa came in No. 1 as the hottest housing market of 2022. Other cities in the Sun Belt region seeing a boom of interest from buyers include Jacksonville, Florida; Charlotte and Raleigh, North Carolina; and San Antonio.

Part of this situation is caused by the fact that since the pandemic, more and more people are working from home, and if you are working from home, why not have a home in a warm climate?

Increased local taxes in other parts of the country are contributing to the situation. The fact that we don’t have a state income tax makes Florida an attractive location also. Ever wonder how we get by with no sales tax? One thing that helps is the lodging tax – the amount of tax due on living/sleeping accommodations. Here in Pinellas County the lodging tax is 12% and the sales tax is 7.2%. Have you checked into renting a place on the beach lately? The rates are high enough, but all the add on taxes and fees are through the roof. Obviously the tourists are helping us with our tax situation.

Buying a house in this area has become a challenge that we haven’t seen before. Even if a buyer finds a listing that has just come on the market, and makes an offer thousands of dollars above the listing price, the buyer is likely not going to accept the offer, and will probably get dozens of offers in a bidding war.

Before you go out and face the insanity of trying to purchase a house in the market, you should have a phone consultation with Ruth Schoeneer. Ruth can give you some great advice and make sure your lending situation is in great shape so that your offer will be seen as an attractive choice.

Ruth Schoenherr is a mortgage broker who will help you find home loans in the Clearwater, Palm Harbor, Largo, Safety Harbor, St Petersburg and Tampa Bay area. For more information, go to her web site at www.ClearwaterMortgageBroker.net or call at 727 447-2418.