Realtor calls developer's decision to build new homes "smart move"

Realtor John Mudd knows that new apartment complexes in the area have been struggling to get new tenants to fill vacancies throughout the year, but he also knows that sales of new homes and previously owned homes have been red-hot, driving prices up, making them a smart investment for both buyers and builders.

PINELLAS PARK, FL (PRWEB) September 6, 2003 -- Realtor John Mudd knows that new apartment complexes in the area have been struggling to get new tenants to fill vacancies throughout the year, but he also knows that sales of new homes and previously owned homes have been red-hot, driving prices up, making them a smart investment for both buyers and builders.

"According to the National Association of Realtors, home prices have steadily increased throughout all of 2003 throughout the Tampa Bay area, due to high consumer demand, however, NAR has also said that renting apartments has been more of a challenge, with apartment complexes having to give away the first month to the first two months away, rent free. Apartment complexes have also had to give away TVs, VCRs and other goodies, to entice renters to rent instead of buying. This should continue, even though rates have edged up to around six percent. Lower priced rentals, targeted toward lower income tenants, however, haven't struggled in the same manner as upper-scale rentals, starting at around $600 a month. I have customers who I'm moving out of rentals, as I speak, into brand new homes. It's not hard to do with the massive number of 100% financing plans available and historically low interest rates. That's something that landlords simply cannot match."

John Mudd is a Realtor with EXIT Realty Suncoast. He specializes in single family homes and beach area condos, including luxury homes and condos. You can search for homes, land, lots and investment property for sale, find out your home or condo's value in today's real estate market, plus get free mortgage loan information from his real estate website: www.HomeInTampaBay.com. From there you can also access his blog, now in syndication, Tampa Bay's Inside Real Estate Journal. He also writes regular real estate commentary for Blogcritics and has also contributed to Florida's Downtown'r and Paradise NEWS as a real estate columnist. Mudd is a member of the Florida Association of Realtors, National Association of Realtors and the Pinellas Realtor Organization.