Bidding Wars For Home Buying Becoming The New Normal In Florida

Bidding wars are becoming very common all over the nation right now in the home buying market. Homeowners are listing homes at a specified price and it some cases, selling for more than $250,000 more than they were asking. Tampa Home Talk’s real estate blog explains what happens in bidding wars for home buying in Florida, as well as through their real estate radio show.

 

We all may have heard of bidding wars before in the housing market happening in places such as California and New York, but it now could be spreading to Florida.

 

Bidding Wars For Home Buying In California Happens Everyday

 

A normal example of a story you may have heard is about Marianne Jackson. Marianne is an eBay executive looking to purchase a home in Oakland, as she currently works near Silicon Valley not far away. She found a 3-bedroom home listed at $699,000. Marianne knew that the current homeowners would not be selling at that price. Instead, she went ahead and offered $200,000 over the asking price, as well as not having any contingencies, and offering to pay in cash. Jackson’s plan of attack worked as she beat out 11 competing offers and closed on the house last month for $900,000.

 

Now just because Marianna Jackson went ahead and offered over $200,000 more than the asking price does not mean everyone has to do the same. Oakland is currently soaring with prices and is a very competitive market.

 

Florida Real Estate Competition

 

Florida on the other hand is a buyers market currently, but may soon become a sellers market as competition continues to come to the state for bidding wars for home buying.

 

More affordable homes and first-time buyers will have to handle the compeition first. Homes ranging from $200,000 to $400,000 are currently facing competition of multiple offers 55 percent of the time in California and New York. Florida on the other hand is still growing and does not have as fierce of competition yet. South Tampa has been the first to head into this competitive housing market though. Homes are receiving multiple offers well above the asking price as contractors and firms plan to plow down the walls and build the lot into a new house or condominium complex. Ybor city in the past month has seen over two-dozen brownstones purchased in preparation to be torn down or remodeled.

 

Home Buying Heads To St. Petersburg-Clearwater

 

As more corporations continue to move their home bases to the upcoming city of St. Petersburg, the housing market will begin to become competitive. There are only so many waterfront properties, and old-Florida homes will begin to be demolished to make way for townhouses and condominiums for employees to call home.

 

 

How To Profit On Bidding Wars in Real Estate

 

Currently, it is a home buying market. Plenty of homes are available for purchase in Florida, as well as renovation, and bidding wars for home buying has not begun yet. Katrina Madewell and the Tampa Home Talk team not only know how to sell houses, but constantly bring in professionals in all areas of the real estate business to make sure homebuyers and investors know exactly how to renovate, keep up-to-date, and maintain their homes.

 

Tampa Bay Real Estate Radio Show – Tampa Home Talk

 

Katrina Madewell is live every Friday morning at 9am on Money Talk AM 1010 bringing in new professionals every week to discuss your questions on Tampa Home Talk Radio Show.

 

If you are in the market for buying a home, selling your home, or just seeing what you can be approved for or afford, Tampa Home Talk is a good place to start. We can provide a wide array of listing with our real estate map on our website, help you contact a mortgage lender, move from your old home to new home, and guide you through the process of purchasing a home, renovating a home, or maintaining your current home.

 

Contact Us to learn more at Tampa Home Talk

Tampa Home Talk Leading Tampa Bay Real Estate Discussions On Bidding Wars For Home Buying

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How To Buy, Sell, and Build A Business

In the modern era of the 21st century, starting a business is becoming normal for some people. For Joy Randels, and Startup Grind, this is an everyday occurrence. Startup Grind is one of the largest independent startup community. With the Tampa Home Talk blog and radio show, we strive to teach new clients and viewers a wide array of tools to use. In this week’s real estate blog, Tampa Home Talk and Katrina Madewell take a look at how to buy, sell, and build a business in the Tampa, Florida area.

 

Buying A Business

 

If you are interested in buying a business that is already up and running, that is very possible. Most of the time you can find a “turn-key” business, which allows you to buy an up and running business, with employees, that could continue to run the same or improve once the current owner is bought out, and the new owner comes aboard. With this type of purchase, it is usually more expensive, as you are paying for someone’s years of hard work that have been going on inside the business. It is the same when buying a home. If you are wanting a “turn-key” home, it is usually more expensive than buying a fix-up home.

 

It is suggested when you are going in to buy a “turn-key” business, you should have the correct amount of money to purchase the business, and then about 20% in savings or a fund, to finance the further actions of the business in case there is complications when the current owner leaves that was presented before purchase. When buying a home, your mortgage will be more expensive, and it is highly suggested to have extra money set aside to help pay for the mortgage, in months that may not be as highly profitable as others.

 

Katrina Madewell recently hosted Joy Randels on Tampa Home Talk Radio Show. Joy is employed by Startup Grind, which helps when buying or starting a business with funding, design, structure, and other tools for an inspiring business owner.

 

Tampa Home Talk Live Every Friday At 9am On Money Talk AM 1010

 

You can listen to Katrina’s interview and conversation with Joy Randels on Tampa Home Talk Radio Show right now:

 

 

 

Katrina Madewell is live every Friday morning at 9am on Money Talk AM 1010 to bring listeners new and interesting topics of discussion and help you know how to buy, sell, and build a business.

 

Selling A Business

 

The next topic of conversation when it comes to how to buy, sell, and build a business is selling. Selling a business, a service, or a product is the way to financial stability and growth. Selling a business is similar to selling your home. You can do it yourself, and seek a buyer, or you can find a professional with experience, such as Joy at Startup Grind. They have entrepreneurs and firms looking to acquire different businesses.

 

You will need to have a valid reason for selling your business when buyers come around and begin to ask questions, just like you would need to have when selling your home. A few examples of valid reasons are retirement, partner disputes, illness or death, becoming overworked, and boredom. Those reasons for selling will not raise red flags.

 

On the other hand, there are reasons for selling a business that will decrease value, just as it would when selling your home. These reasons may be increasing profits, inconsistent income figures, a weak customer base, a net-loss contract spanning over multiple years. A smart buyer, will see if your business can be turned around, and low-ball your business. Other times, they may see that the business is not salvageable and will move on to another.

 

Tips & Knowledge On How To Buy, Sell, And Build A Business

 

When you or anyone is thinking about how to buy, sell, or build a business, it is always a good idea to talk to trustworthy friends, family, or potential business partners. If you feel as you are lacking on any of those members, reach out to Startup Grind and get connected to see how they can help. Katrina Madewell and the Tampa Home Talk team are constantly bringing new guests and speakers to the show to help expand the viewers knowledge and tool belt.

 

Tune in every Friday at 9am to listen to Katrina on Money Talk AM 1010 to listen to radio show contributors and speakers every week. Tampa Home Talk is also live on Thursday and Saturday at 5pm on AM 1340 Tank Talk Radio.

 

Contact Us to learn more at Tampa Home Talk

Allow Tampa Home Talk To Connect You On How To Buy, Sell, and Build a Business 

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